diff --git "a/data/simplong_test-00000-of-00001.json" "b/data/simplong_test-00000-of-00001.json" new file mode 100644--- /dev/null +++ "b/data/simplong_test-00000-of-00001.json" @@ -0,0 +1,34116 @@ +[ + { + "question": "when pnc redeemed all shares of the series m preferred stock from the trust on december 10 , 2012 , what was the total cash cost of the redemption?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ADDITIONAL FINANCIAL INFORMATION OFF-BALANCE SHEET ARRANGEMENTS On December 31, 2016, other than operating leases, we had no material off-balance sheet arrangements.", + "CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS The following tables present information about our contractual obligations and commercial commitments on December 31, 2016:", + "|||Payments Due by Period|\n|Contractual Obligations|Total Amount Committed|Less Than 1 Year|1-3 Years|4-5 Years|More Than 5 Years|\n|Long-term debt (a)|$4,791|$991|$162|$661|$2,977|\n|Capital lease obligations|30|2|5|4|19|\n|Operating leases|1,187|241|339|164|443|\n|Purchase obligations (b)|26,155|11,783|9,938|3,443|991|\n|Other long-term liabilities (c)|18,169|3,004|2,287|1,783|11,095|\n||$50,332|$16,021|$12,731|$6,055|$15,525|\n", + "(a) Includes scheduled interest payments.", + "See Note J to the Consolidated Financial Statements in Item 8 for a discussion of long-term debt.", + "(b) Includes amounts committed under legally enforceable agreements for goods and services with defined terms as to quantity, price and timing of delivery.", + "This amount includes $16.3 billion of purchase obligations for products and services to be delivered under firm government contracts under which we would expect full recourse under normal contract termination clauses.", + "(c) Represents other long-term liabilities on our Consolidated Balance Sheet, including the current portion of these liabilities.", + "The projected timing of cash flows associated with these obligations is based on management\u2019s estimates, which are based largely on historical experience.", + "This amount also includes all liabilities under our defined-benefit retirement plans.", + "See Note P to the Consolidated Financial Statements in Item 8 for information regarding these liabilities and the plan assets available to satisfy them.", + "|||Amount of Commitment Expiration by Period|\n|Commercial Commitments|Total Amount Committed|Less Than 1 Year|1-3 Years|4-5 Years|More Than 5 Years|\n|Letters of credit and guarantees*|$1,044|$560|$257|$68|$159|\n", + "* See Note N to the Consolidated Financial Statements in Item 8 for a discussion of letters of credit.", + "APPLICATION OF CRITICAL ACCOUNTING POLICIES Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations is based on our Consolidated Financial Statements, which have been prepared in accordance with GAAP.", + "The preparation of financial statements in accordance with GAAP requires that we make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the period.", + "On an ongoing basis, we evaluate our estimates, including most pervasively those related to various assumptions and projections for our long-term contracts and programs.", + "Other significant estimates include those related to goodwill and other intangible assets, income taxes, pension and other post-retirement benefits, workers\u2019 compensation, warranty obligations and litigation and other contingencies.", + "We employ judgment in making our estimates but they are based on historical experience, currently available information and various other assumptions that we believe to be reasonable under the circumstances.", + "The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily available from other sources.", + "Actual results may differ from these estimates.", + "We believe that our judgment is applied consistently and produces financial information that fairly depicts the results of operations for all periods presented.", + "In our opinion, the following policies are critical and require the use of significant judgment in their application: Revenue Recognition We account for revenue and earnings using the percentage-of\u0002completion method.", + "Under this method, we recognize contract costs and revenue as the work progresses, either as the products are produced or as services are rendered.", + "We determine progress using either input measures (e. g. , costs incurred) or output measures (e. g. , contract milestones or units delivered), as appropriate to the circumstances.", + "An input measure is used in most cases unless an output measure is identified that is reliably determinable and representative of progress toward completion.", + "We estimate the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit", + "Table 66: Commercial Lending Asset Quality Indicators (a)", + "|||Criticized Commercial Loans||\n|In millions|PassRated (b)|Special Mention (c)|Substandard (d)|Doubtful (e)|TotalLoans|\n| December 31, 2012||||||\n|Commercial|$78,048|$1,939|$2,600|$145|$82,732|\n|Commercial real estate|14,898|804|1,802|210|17,714|\n|Equipment lease financing|7,062|68|112|5|7,247|\n|Purchased impaired loans|49|60|852|288|1,249|\n|Total commercial lending (f)|$100,057|$2,871|$5,366|$648|$108,942|\n|December 31, 2011||||||\n|Commercial|$60,649|$1,831|$2,817|$257|$65,554|\n|Commercial real estate|11,478|791|2,823|400|15,492|\n|Equipment lease financing|6,210|48|153|5|6,416|\n|Purchased impaired loans|107|35|542|168|852|\n|Total commercial lending (f)|$78,444|$2,705|$6,335|$830|$88,314|\n", + "(a) Based upon PDs and LGDs.", + "(b) Pass Rated loans include loans not classified as \u201cSpecial Mention\u201d, \u201cSubstandard\u201d, or \u201cDoubtful\u201d.", + "(c) Special Mention rated loans have a potential weakness that deserves management\u2019s close attention.", + "If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects at some future date.", + "These loans do not expose us to sufficient risk to warrant a more adverse classification at this time.", + "(d) Substandard rated loans have a well-defined weakness or weaknesses that jeopardize the collection or liquidation of debt.", + "They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected.", + "(e) Doubtful rated loans possess all the inherent weaknesses of a Substandard rated loan with the additional characteristics that the weakness makes collection or liquidation in full improbable due to existing facts, conditions, and values.", + "(f) Loans are included above based on their contractual terms as \u201cPass\u201d, \u201cSpecial Mention\u201d, \u201cSubstandard\u201d or \u201cDoubtful\u201d.", + "CONSUMER LENDING ASSET CLASSES Home Equity and Residential Real Estate Loan Classes We use several credit quality indicators, including delinquency information, nonperforming loan information, updated credit scores, originated and updated LTV ratios, and geography, to monitor and manage credit risk within the home equity and residential real estate loan classes.", + "We evaluate mortgage loan performance by source originators and loan servicers.", + "A summary of asset quality indicators follows: Delinquency/Delinquency Rates: We monitor trending of delinquency/delinquency rates for home equity and residential real estate loans.", + "See the Asset Quality section of this Note 5 for additional information.", + "Nonperforming Loans: We monitor trending of nonperforming loans for home equity and residential real estate loans.", + "See the Asset Quality section of this Note 5 for additional information.", + "Credit Scores: We use a national third-party provider to update FICO credit scores for home equity loans and lines of credit and residential real estate loans on at least a quarterly basis.", + "The updated scores are incorporated into a series of credit management reports, which are utilized to monitor the risk in the loan classes.", + "LTV (inclusive of combined loan-to-value (CLTV) ratios for second lien positions): At least semi-annually, we update the property values of real estate collateral and calculate an updated LTV ratio.", + "For open-end credit lines secured by real estate in regions experiencing significant declines in property values, more frequent valuations may occur.", + "We examine LTV migration and stratify LTV into categories to monitor the risk in the loan classes.", + "Historically, we used, and we continue to use, a combination of original LTV and updated LTV for internal risk management reporting and risk management purposes (e. g. , line management, loss mitigation strategies).", + "In addition to the fact that estimated property values by their nature are estimates, given certain data limitations it is important to note that updated LTVs may be based upon management\u2019s assumptions (e. g. , if an updated LTV is not provided by the third-party service provider, home price index (HPI) changes will be incorporated in arriving at management\u2019s estimate of updated LTV).", + "Geography: Geographic concentrations are monitored to evaluate and manage exposures.", + "Loan purchase programs are sensitive to, and focused within, certain regions to manage geographic exposures and associated risks.", + "ITEM 5 \u2013 MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES (a) (1) Our common stock is listed on the New York Stock Exchange and is traded under the symbol \u201cPNC.", + "\u201d At the close of business on February 15, 2013, there were 75,100 common shareholders of record.", + "Holders of PNC common stock are entitled to receive dividends when declared by the Board of Directors out of funds legally available for this purpose.", + "Our Board of Directors may not pay or set apart dividends on the common stock until dividends for all past dividend periods on any series of outstanding preferred stock have been paid or declared and set apart for payment.", + "The Board presently intends to continue the policy of paying quarterly cash dividends.", + "The amount of any future dividends will depend on economic and market conditions, our financial condition and operating results, and other factors, including contractual restrictions and applicable government regulations and policies (such as those relating to the ability of bank and non\u0002bank subsidiaries to pay dividends to the parent company and regulatory capital limitations).", + "The amount of our dividend is also currently subject to the results of the Federal Reserve\u2019s 2013 Comprehensive Capital Analysis and Review (CCAR) as part of its supervisory assessment of capital adequacy described under \u201cSupervision and Regulation\u201d in Item 1 of this Report.", + "The Federal Reserve has the power to prohibit us from paying dividends without its approval.", + "For further information concerning dividend restrictions and restrictions on loans, dividends or advances from bank subsidiaries to the parent company, see \u201cSupervision and Regulation\u201d in Item 1 of this Report, \u201cFunding and Capital Sources\u201d in the Consolidated Balance Sheet Review section, \u201cLiquidity Risk Management\u201d in the Risk Management section, and \u201cTrust Preferred Securities\u201d in the Off-Balance Sheet Arrangements And Variable Interest Entities section of Item 7 of this Report, and Note 14 Capital Securities of Subsidiary Trusts and Perpetual Trust Securities and Note 22 Regulatory Matters in the Notes To Consolidated Financial Statements in Item 8 of this Report, which we include here by reference.", + "We include here by reference additional information relating to PNC common stock under the caption \u201cCommon Stock Prices/Dividends Declared\u201d in the Statistical Information (Unaudited) section of Item 8 of this Report.", + "We include here by reference the information regarding our compensation plans under which PNC equity securities are authorized for issuance as of December 31, 2012 in the table (with introductory paragraph and notes) that appears in Item 12 of this Report.", + "Our registrar, stock transfer agent, and dividend disbursing agent is: Computershare Trust Company, N. A.250 Royall Street Canton, MA 02021 800-982-7652 We include here by reference the information that appears under the caption \u201cCommon Stock Performance Graph\u201d at the end of this Item 5.", + "(a)(2) None.", + "(b) Not applicable.", + "(c) Details of our repurchases of PNC common stock during the fourth quarter of 2012 are included in the following table: In thousands, except per share data", + "|2012 period (a)|Total sharespurchased (b)|Averagepricepaid pershare|Total sharespurchased aspartofpubliclyannouncedprograms (c)|Maximumnumber ofshares thatmay yet bepurchasedundertheprograms (c)|\n|October 1 \u2013 31|13|$60.05||22,552|\n|November 1 \u2013 30|750|$55.08|750|21,802|\n|December 1 \u2013 31|292|$55.74|251|21,551|\n|Total|1,055|$55.32|1,001||\n", + "(a) In addition to the repurchases of PNC common stock during the fourth quarter of 2012 included in the table above, PNC redeemed all 5,001 shares of its Series M Preferred Stock on December 10, 2012 as further described below.", + "As part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M (the \u201cSeries M Preferred Stock\u201d), which mirrored in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. On December 10, 2012, PNC issued $500.1 million aggregate liquidation amount (5,001 shares) of the Series M Preferred Stock to the National City Preferred Capital Trust I (the \u201cTrust\u201d) as required pursuant to the settlement of a Stock Purchase Contract Agreement between the Trust and PNC dated as of January 30, 2008.", + "Immediately upon such issuance, PNC redeemed all 5,001 shares of the Series M Preferred Stock from the Trust on December 10, 2012 at a redemption price equal to $100,000 per share.", + "(b) Includes PNC common stock purchased under the program referred to in note (c) to this table and PNC common stock purchased in connection with our various employee benefit plans.", + "Note 15 Employee Benefit Plans and Note 16 Stock Based Compensation Plans in the Notes To Consolidated Financial Statements in Item 8 of this Report include additional information regarding our employee benefit plans that use PNC common stock.", + "(c) Our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions.", + "This program was authorized on October 4, 2007 and will remain in effect until fully utilized or until modified, superseded or terminated.", + "The extent and timing of share repurchases under this program will depend on a number of factors including, among others, market and general economic conditions, economic capital and regulatory capital considerations, alternative uses of capital, the potential impact on our credit ratings, and contractual and regulatory limitations, including the impact of the Federal Reserve\u2019s supervisory assessment of capital adequacy program." + ], + "question_id": "simplong-test-0", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in fuel surcharge revenues from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table 58 \u2014 Selected Quarterly Income Statement Data(1)", + "||2009|\n||Fourth|Third|Second|First|\n|(Dollar amounts in thousands, except per share amounts)|\n|Interest income|$551,335|$553,846|$563,004|$569,957|\n|Interest expense|177,271|191,027|213,105|232,452|\n|Net interest income|374,064|362,819|349,899|337,505|\n|Provision for credit losses|893,991|475,136|413,707|291,837|\n|Net interest (loss) income after provision for credit losses|-519,927|-112,317|-63,808|45,668|\n|Total noninterest income|244,546|256,052|265,945|239,102|\n|Total noninterest expense|322,596|401,097|339,982|2,969,769|\n|Loss before income taxes|-597,977|-257,362|-137,845|-2,684,999|\n|Benefit for income taxes|-228,290|-91,172|-12,750|-251,792|\n|Net loss|$-369,687|$-166,190|$-125,095|$-2,433,207|\n|Dividends on preferred shares|29,289|29,223|57,451|58,793|\n| Net loss applicable to common shares|$-398,976|$-195,413|$-182,546|$-2,492,000|\n| Common shares outstanding|||||\n|Average \u2014 basic|715,336|589,708|459,246|366,919|\n|Average \u2014 diluted-2|715,336|589,708|459,246|366,919|\n|Ending|715,762|714,469|568,741|390,682|\n|Book value per share|$5.10|$5.59|$6.23|$7.80|\n|Tangible book value per share-3|4.21|4.69|5.07|6.08|\n| Per common share|||||\n|Net loss- basic|$-0.56|$-0.33|$-0.40|$-6.79|\n|Net loss \u2014 diluted|-0.56|-0.33|-0.40|-6.79|\n|Cash dividends declared|0.0100|0.0100|0.0100|0.0100|\n| Common stock price, per share|||||\n|High-4|$4.770|$4.970|$6.180|$8.000|\n|Low-4|3.500|3.260|1.550|1.000|\n|Close|3.650|4.710|4.180|1.660|\n|Average closing price|3.970|4.209|3.727|2.733|\n|Return on average total assets|-2.80%|-1.28%|-0.97%|-18.22%|\n|Return on average common shareholders\u2019 equity|-39.1|-21.5|-23.0|-188.9|\n|Return on average tangible common shareholders\u2019 equity-5|-45.1|-24.7|-27.2|-479.2|\n|Efficiency ratio-6|49.0|61.4|51.0|60.5|\n|Effective tax rate (benefit)|-38.2|-35.4|-9.2|-9.4|\n|Margin analysis-as a % of average earning assets-7|||||\n|Interest income-7|4.70%|4.86%|4.99%|4.99%|\n|Interest expense|1.51|1.66|1.89|2.02|\n|Net interest margin-7|3.19%|3.20%|3.10%|2.97%|\n| Revenue \u2014 FTE|||||\n|Net interest income|$374,064|$362,819|$349,899|$337,505|\n|FTE adjustment|2,497|4,177|1,216|3,582|\n|Net interest income-7|376,561|366,996|351,115|341,087|\n|Noninterest income|244,546|256,052|265,945|239,102|\n| Total revenue-7|$621,107|$623,048|$617,060|$580,189|\n|Continued|||||\n", + "Consolidated Financial Statements.", + "A list of trust-preferred securities outstanding at December 31, 2010 follows:", + "| (Dollar amounts in thousands)| Rate|| Principal Amount of Subordinated Note/ Debenture Issued to Trust -1| Investment in Unconsolidated Subsidiary -2|\n|Huntington Capital I|0.99|-3|$138,816|$6,186|\n|Huntington Capital II|0.93|-4|60,093|3,093|\n|Huntington Capital III|6.69||114,072|10|\n|BancFirst Ohio Trust Preferred|8.54||23,248|619|\n|Sky Financial Capital Trust I|8.52||64,474|1,856|\n|Sky Financial Capital Trust II|3.52|-5|30,929|929|\n|Sky Financial Capital Trust III|1.28|-6|77,481|2,320|\n|Sky Financial Capital Trust IV|1.27|-6|77,482|2,320|\n|Prospect Trust I|3.54|-7|6,186|186|\n| Total|||$592,781|$17,519|\n", + "(1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.", + "(2) Huntington\u2019s investment in the unconsolidated trusts represents the only risk of loss.", + "(3) Variable effective rate at December 31, 2010, based on three month LIBOR + 0.70.", + "(4) Variable effective rate at December 31, 2010, based on three month LIBOR + 0.625.", + "(5) Variable effective rate at December 31, 2010, based on three month LIBOR + 2.95.", + "(6) Variable effective rate at December 31, 2010, based on three month LIBOR + 1.40.", + "(7) Variable effective rate at December 31, 2010, based on three month LIBOR + 3.25.", + "Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate.", + "Huntington has the right to defer payment of interest on the debentures at any time, or from time to time for a period not exceeding five years, provided that no extension period may extend beyond the stated maturity of the related debentures.", + "During any such extension period, distributions to the trust securities will also be deferred and Huntington\u2019s ability to pay dividends on its common stock will be restricted.", + "Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts.", + "The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt.", + "The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington.", + "Low Income Housing Tax Credit Partnerships Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit pursuant to Section 42 of the Internal Revenue Code.", + "The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Commu\u0002nity Reinvestment Act.", + "The primary activities of the limited partnerships include the identification, develop\u0002ment, and operation of multi-family housing that is leased to qualifying residential tenants.", + "Generally, these types of investments are funded through a combination of debt and equity.", + "Huntington does not own a majority of the limited partnership interests in these entities and is not the primary beneficiary.", + "Huntington uses the equity method to account for the majority of its investments in these entities.", + "These investments are included in accrued income and other assets.", + "At December 31, 2010 and 2009, Huntington has commitments of $316.0 million and $285.3 million, respectively, of which $260.1 million and", + "Financial Expectations \u2013 We are cautious about the economic environment, but, assuming that industrial production grows approximately 3% as projected, volume should exceed 2013 levels.", + "Even with no volume growth, we expect earnings to exceed 2013 earnings, generated by core pricing gains, on-going network improvements and productivity initiatives.", + "We expect that free cash flow for 2014 will be lower than 2013 as higher cash from operations will be more than offset by additional cash of approximately $400 million that will be used to pay income taxes that were previously deferred through bonus depreciation, increased capital spend and higher dividend payments.", + "RESULTS OF OPERATIONS Operating Revenues", + "|Millions|2013|2012|2011|% Change 2013 v 2012|% Change 2012 v 2011|\n|Freight revenues|$20,684|$19,686|$18,508|5%|6%|\n|Other revenues|1,279|1,240|1,049|3|18|\n|Total|$21,963|$20,926|$19,557|5%|7%|\n", + "We generate freight revenues by transporting freight or other materials from our six commodity groups.", + "Freight revenues vary with volume (carloads) and ARC.", + "Changes in price, traffic mix and fuel surcharges drive ARC.", + "We provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations, which we record as reductions to freight revenues based on the actual or projected future shipments.", + "We recognize freight revenues as shipments move from origin to destination.", + "We allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them.", + "Other revenues include revenues earned by our subsidiaries, revenues from our commuter rail operations, and accessorial revenues, which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage.", + "We recognize other revenues as we perform services or meet contractual obligations.", + "Freight revenues from five of our six commodity groups increased during 2013 compared to 2012.", + "Revenue from agricultural products was down slightly compared to 2012.", + "ARC increased 5%, driven by core pricing gains, shifts in business mix and an automotive logistics management arrangement.", + "Volume was essentially flat year over year as growth in automotives, frac sand, crude oil and domestic intermodal offset declines in coal, international intermodal and grain shipments.", + "Freight revenues from four of our six commodity groups increased during 2012 compared to 2011.", + "Revenues from coal and agricultural products declined during the year.", + "Our franchise diversity allowed us to take advantage of growth from shale-related markets (crude oil, frac sand and pipe) and strong automotive manufacturing, which offset volume declines from coal and agricultural products.", + "ARC increased 7%, driven by core pricing gains and higher fuel cost recoveries.", + "Improved fuel recovery provisions and higher fuel prices, including the lag effect of our programs (surcharges trail fluctuations in fuel price by approximately two months), combined to increase revenues from fuel surcharges.", + "Our fuel surcharge programs generated freight revenues of $2.6 billion, $2.6 billion, and $2.2 billion in 2013, 2012, and 2011, respectively.", + "Fuel surcharge in 2013 was essentially flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs (surcharges trail fluctuations in fuel price by approximately two months).", + "Rising fuel prices and more shipments subject to fuel surcharges drove the increase from 2011 to 2012.", + "In 2013, other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services.", + "In 2012, other revenues increased from 2011 due primarily to higher revenues at our subsidiaries that broker intermodal and automotive services.", + "Assessorial revenues also increased in 2012 due to container revenue related to an increase in intermodal shipments." + ], + "question_id": "simplong-test-1", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Cost of sales to the total in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents ITEM 2.", + "PROPERTIES Flight Equipment and Fleet Renewal As of December 31, 2016, American operated a mainline fleet of 930 aircraft.", + "In 2016, we continued our extensive fleet renewal program, which has provided us with the youngest fleet of the major U. S. network carriers.", + "During 2016, American took delivery of 55 new mainline aircraft and retired 71 aircraft.", + "We are supported by our wholly-owned and third-party regional carriers that fly under capacity purchase agreements operating as American Eagle.", + "As of December 31, 2016, American Eagle operated 606 regional aircraft.", + "During 2016, we increased our regional fleet by 61 regional aircraft, we removed and placed in temporary storage one Embraer ERJ 140 aircraft and retired 41 other regional aircraft.", + "Mainline As of December 31, 2016, American\u2019s mainline fleet consisted of the following aircraft:", + "||Average Seating Capacity|Average Age (Years)|Owned|Leased|Total|\n|Airbus A319|128|12.8|19|106|125|\n|Airbus A320|150|15.5|10|41|51|\n|Airbus A321|178|4.9|153|46|199|\n|AirbusA330-200|258|5.0|15|\u2014|15|\n|AirbusA330-300|291|16.4|4|5|9|\n|Boeing737-800|160|7.7|123|161|284|\n|Boeing757-200|179|17.9|39|12|51|\n|Boeing767-300ER|211|19.5|28|3|31|\n|Boeing777-200ER|263|16.0|44|3|47|\n|Boeing777-300ER|310|2.8|18|2|20|\n|Boeing787-8|226|1.3|17|\u2014|17|\n|Boeing787-9|285|0.2|4|\u2014|4|\n|Embraer 190|99|9.2|20|\u2014|20|\n|McDonnell DouglasMD-80|140|22.0|25|32|57|\n|Total||10.3|519|411|930|\n", + "CF INDUSTRIES HOLDINGS, INC. 123 Changes in common shares outstanding are as follows:", + "||Year ended December 31,|\n||2016|2015|2014|\n|Beginning balance|233,081,556|241,673,050|279,240,970|\n|Exercise of stock options|17,600|274,705|942,560|\n|Issuance of restricted stock-1|44,941|40,673|20,875|\n|Forfeitures of restricted stock|-10,000|\u2014|-65,680|\n|Purchase of treasury shares-2|-19,928|-8,906,872|-38,465,675|\n|Ending balance|233,114,169|233,081,556|241,673,050|\n", + "(1) Includes shares issued from treasury.", + "(2) Includes shares withheld to pay employee tax obligations upon the vesting of restricted stock.", + "Preferred Stock CF Holdings is authorized to issue 50 million shares of $0.01 par value preferred stock.", + "Our Second Amended and Restated Certificate of Incorporation, as amended, authorizes the Board, without any further stockholder action or approval, to issue these shares in one or more classes or series, and (except in the case of our Series A Junior Participating Preferred Stock, 500,000 shares of which are authorized and the terms of which were specified in the original certificate of incorporation of CF Holdings) to fix the rights, preferences and privileges of the shares of each wholly unissued class or series and any of its qualifications, limitations or restrictions.", + "In connection with the Plan (as defined below), 500,000 shares of preferred stock have been designated as Series B Junior Participating Preferred Stock.", + "The Series A Junior Participating Preferred Stock had been established in CF Holdings\u2019 original certificate of incorporation in connection with our former stockholder rights plan that expired in 2015.", + "No shares of preferred stock have been issued.", + "Tax Benefits Preservation Plan On September 6, 2016, CF Holdings entered into a Tax Benefits Preservation Plan (the Plan) with Computershare Trust Company, N. A. , as rights agent.", + "The Plan is intended to help protect our tax net operating losses and certain other tax assets (the Tax Benefits) by deterring any person from becoming a \"5-percent shareholder\" (as defined in Section 382 of the Internal Revenue Code of 1986, as amended) (a 5% Shareholder).", + "Under the Plan, each share of common stock has attached to it one right.", + "Each right entitles the holder to purchase one one-thousandth of a share of our preferred stock designated as Series B Junior Participating Preferred Stock at a purchase price of $100, subject to adjustment.", + "Rights will only be exercisable under the limited circumstances specified in the Plan when there has been a distribution of the rights and such rights are no longer redeemable by CF Holdings.", + "A distribution of the rights would occur upon the earlier of (i) 10 business days following a public announcement that a person or group of affiliated or associated persons has become a 5% Shareholder (subject to certain exceptions described in the Plan) and (ii) 10 business days (or such later date as the Board shall determine) following the commencement of a tender offer or exchange offer that would result in a person or group of affiliated or associated persons becoming a 5% Shareholder (subject to certain exceptions described in the Plan).", + "The rights will expire at the earliest of (i) 5:00 P. M. (New York City time) on September 5, 2017, or such later date and time (but not later than 5:00 P. M. (New York City time) on September 5, 2019) as may be determined by the Board and approved by the stockholders of CF Holdings by a vote of the majority of the votes cast by the holders of shares entitled to vote thereon at a meeting of the stockholders of CF Holdings prior to 5:00 P. M. (New York City time) on September 5, 2017, (ii) the time at which the rights are redeemed or exchanged as provided in the Plan, (iii) the time at which the Board determines that the Plan is no longer necessary or desirable for the preservation of Tax Benefits, and (iv) the close of business on the first day of a taxable year of CF Holdings to which the Board determines that no Tax Benefits may be carried forward.", + "In the event that a person or group of affiliated or associated persons becomes a 5% Shareholder (subject to certain exceptions described in the Plan), each holder of a right, other than such person, any member of such group or related person, all of whose rights will be null and void, will thereafter have the right to receive, upon exercise, common stock having a value equal to two times the exercise price of the right.", + "CF INDUSTRIES HOLDINGS, INC. 126 19.", + "Stock-Based Compensation 2014 Equity and Incentive Plan On May 14, 2014, our shareholders approved the CF Industries Holdings, Inc. 2014 Equity and Incentive Plan (the 2014 Equity and Incentive Plan) which replaced the CF Industries Holdings, Inc. 2009 Equity and Incentive Plan.", + "Under the 2014 Equity and Incentive Plan, we may grant incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards (payable in cash or stock) and other stock-based awards to our officers, employees, consultants and independent contractors (including non-employee directors).", + "The purpose of the 2014 Equity and Incentive Plan is to provide an incentive for our employees, officers, consultants and non-employee directors that is aligned with the interests of our stockholders.", + "Share Reserve and Individual Award Limits The maximum number of shares reserved for the grant of awards under the 2014 Equity and Incentive Plan is the sum of (i) 13.9 million and (ii) the number of shares subject to outstanding awards under our predecessor plans to the extent such awards terminate or expire without delivery of shares.", + "For purposes of determining the number of shares of stock available for grant under the 2014 Equity and Incentive Plan, each option or stock appreciation right is counted against the reserve as one share.", + "Each share of stock granted, other than an option or a stock appreciation right, is counted against the reserve as 1.61 shares.", + "If any outstanding award expires or is settled in cash, any unissued shares subject to the award are again available for grant under the 2014 Equity and Incentive Plan.", + "Shares tendered in payment of the exercise price of an option and shares withheld by the Company or otherwise received by the Company to satisfy tax withholding obligations are not available for future grant under the 2014 Equity and Incentive Plan.", + "As of December 31, 2016, we had 11.7 million shares available for future awards under the 2014 Equity and Incentive Plan.", + "The 2014 Equity and Incentive Plan provides that no more than 5.0 million underlying shares may be granted to a participant in any one calendar year.", + "Stock Options Under the 2014 Equity and Incentive Plan and our predecessor plans, we granted to plan participants nonqualified stock options to purchase shares of our common stock.", + "The exercise price of these options is equal to the market price of our common stock on the date of grant.", + "The contractual life of each option is ten years and generally one-third of the options vest on each of the first three anniversaries of the date of grant.", + "The fair value of each stock option award is estimated using the Black-Scholes option valuation model.", + "Key assumptions used and resulting grant date fair values are shown in the following table.", + "||2016|2015|2014|\n|Weighted-average assumptions:||||\n|Expected volatility|39%|31%|33%|\n|Expected term of stock options|4.3 Years|4.3 Years|4.3 Years|\n|Risk-free interest rate|1.2%|1.5%|1.3%|\n|Expected dividend yield|3.3%|1.9%|1.6%|\n|Weighted-average grant date fair value|$8.97|$13.99|$12.77|\n", + "The expected volatility of our stock options is based on the combination of the historical volatility of our common stock and implied volatilities of exchange traded options on our common stock.", + "The expected term of options is estimated based on our historical exercise experience, post-vesting employment termination behavior and the contractual term.", + "The risk-free interest rate is based on the U. S. Treasury Strip yield curve in effect at the time of grant for the expected term of the options.", + "Ammonia Segment Our ammonia segment produces anhydrous ammonia (ammonia), which is our most concentrated nitrogen fertilizer as it contains 82% nitrogen.", + "The results of our ammonia segment consist of sales of ammonia to external customers.", + "In addition, ammonia is the \"basic\" nitrogen product that we upgrade into other nitrogen products such as granular urea, UAN and AN.", + "We produce ammonia at all of our nitrogen manufacturing complexes.", + "The following table presents summary operating data for our ammonia segment, including the impact of our acquisition of the remaining 50% equity interest in CF Fertilisers UK:", + "||Twelve months ended December 31,|\n||2016|2015|2014|2016 v. 2015|2015 v. 2014|\n||(in millions, except as noted)|\n|Net sales|$981|$1,523|$1,576|$-542|-36%|$-53|-3%|\n|Cost of sales|715|884|983|-169|-19%|-99|-10%|\n|Gross margin|$266|$639|$593|$-373|-58%|$46|8%|\n|Gross margin percentage|27.1%|42.0%|37.6%|-14.9%||4.4%||\n|Sales volume by product tons (000s)|2,874|2,995|2,969|-121|-4%|26|1%|\n|Sales volume by nutrient tons (000s)(1)|2,358|2,456|2,434|-98|-4%|22|1%|\n|Average selling price per product ton|$341|$509|$531|$-168|-33%|$-22|-4%|\n|Average selling price per nutrient ton-1|$416|$620|$648|$-204|-33%|$-28|-4%|\n|Gross margin per product ton|$93|$213|$200|$-120|-56%|$13|7%|\n|Gross margin per nutrient ton-1|$113|$260|$244|$-147|-57%|$16|7%|\n|Depreciation and amortization|$96|$95|$69|$1|1%|$26|38%|\n|Unrealized net mark-to-market loss (gain) on natural gas derivatives|$-85|$40|$25|$-125|N/M|$15|60%|\n", + "(1) Ammonia represents 82% nitrogen content.", + "Nutrient tons represent the tons of nitrogen within the product tons.", + "Year Ended December 31, 2016 Compared to Year Ended December 31, 2015 Net Sales.", + "Total net sales in the ammonia segment decreased by $542 million, or 36%, to $981 million in 2016 from $1.52 billion in 2015 due primarily to a 33% decrease in average selling prices and a 4% decrease in sales volume.", + "These results include the impact of the CF Fertilisers UK acquisition, which increased net sales by $26 million, or 2%.", + "The remaining decrease in our ammonia net sales of $568 million, or 37%, was due primarily to lower average selling prices and sales volume.", + "Selling prices declined due to excess global nitrogen supply.", + "In addition, our selling prices reflect the impact of a higher proportion of export sales, the volumes of which increased as a result of the weak fall application season attributable to the combined impact of weather conditions and low crop prices on our customers' decisions related to applying fertilizer in the fall.", + "Sales volume in 2016 declined due to combination of the weak fall application season and the impact of upgrading additional ammonia production at our Donaldsonville facility into granular urea and UAN as a result of our capacity expansion projects coming on line at our Donaldsonville, Louisiana complex.", + "Cost of Sales.", + "Cost of sales per ton in our ammonia segment averaged $248 per ton in 2016, including the impact of the CF Fertilisers UK acquisition, which averaged $220 per ton.", + "The remaining cost of sales per ton was $250 in 2016, a 16% decrease from the $296 per ton in 2015.", + "The decrease was due primarily to the impact of unrealized net mark-to-market gains on natural gas derivatives in 2016 compared to losses in 2015 and to the impact of lower realized natural gas costs in 2016.", + "This was partly offset by capacity expansion project start-up costs of $50 million and an increase in expansion project depreciation as a result of the new ammonia plants at our Donaldsonville and Port Neal facilities." + ], + "question_id": "simplong-test-2", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Fixed income in 2015? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Contractual Obligations and Commercial Commitments The following table (in thousands) summarizes our contractual obligations at March 31, 2007 and the effects such obligations are expected to have on our liquidity and cash flows in future periods.", + "||Payments Due By Fiscal Year|\n|Contractual Obligations|Total|Less than 1 Year|1-3 Years|3-5 Years|More than 5 Years|\n|Operating Lease Obligations|$7,669|$1,960|$3,441|$1,652|$616|\n|Purchase Obligations|6,421|6,421|\u2014|\u2014|\u2014|\n|Total Obligations|$14,090|$8,381|$3,441|$1,652|$616|\n", + "We have no long-term debt, capital leases or material commitments at March 31, 2007 other than those shown in the table above.", + "In May 2005, we acquired all the shares of outstanding capital stock of Impella CardioSystems AG, a company headquartered in Aachen, Germany.", + "The aggregate purchase price excluding a contingent payment in the amount of $5.6 million made on January 30, 2007 in the form of common stock, was approximately $45.1 million, which consisted of $42.2 million of our common stock, $1.6 million of cash paid to certain former shareholders of Impella, and $1.3 million of transaction costs, consisting primarily of fees paid for financial advisory and legal services.", + "We may make additional contingent payments to Impella\u2019s former shareholders based on additional milestone payments related to FDA approvals in the amount of up to $11.2 million.", + "These contingent payments may be made in a combination of cash or stock under circumstances described in the purchase agreement.", + "If any contingent payments are made, they will result in an increase to the carrying value of goodwill.", + "We apply the disclosure provisions of FIN No.45, Guarantor\u2019s Accounting and Disclosure Requirements for Guarantees, Including Guarantees of Indebtedness of Others, and Interpretation of FASB Statements No.5, 57 and 107 and Rescission of FASB Interpretation No.34 (FIN No.45) to our agreements that contain guarantee or indemnification clauses.", + "These disclosure provisions expand those required by SFAS No.5 by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor\u2019s performance is remote.", + "The following is a description of arrangements in which we are a guarantor.", + "We enter into agreements with other companies in the ordinary course of business, typically with underwriters, contractors, clinical sites and customers that include indemnification provisions.", + "Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities.", + "These indemnification provisions generally survive termination of the underlying agreement.", + "The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited.", + "We have never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements.", + "As a result, the estimated fair value of these agreements is minimal.", + "Accordingly, we have no liabilities recorded for these agreements as of March 31, 2007.", + "Clinical study agreements \u2013 In our clinical study agreements, we have agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to use of our devices in accordance with the clinical study agreement, the protocol for the device and our instructions.", + "The indemnification provisions contained within our clinical study agreements do not generally include limits on the claims.", + "We have never incurred any material costs related to the indemnification provisions contained in our clinical study agreements.", + "Product warranties\u2014We routinely accrue for estimated future warranty costs on our product sales at the time of shipment.", + "All of our products are subject to rigorous regulation and quality standards.", + "While we engage in extensive product quality programs and processes, including monitoring and evaluating the quality of our component suppliers, our warranty obligations are affected by product failure rates.", + "Our operating results could be adversely affected if the actual cost of product failures exceeds the estimated warranty provision.", + "Patent indemnifications\u2014In many sales transactions, we indemnify customers against possible claims of patent infringement caused by our products.", + "The indemnifications contained within sales contracts usually do not include limits on the claims.", + "We have never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions.", + "Under the provisions of FIN No.45, intellectual property indemnifications require disclosure only.", + "iShares iShares is the leading ETF provider in the world, with $1.3 trillion of AUM at December 31, 2016 and was the top asset gatherer globally in 20161 with record net inflows of $140.5 billion resulting in an organic growth rate of 13%.", + "Equity net inflows of $74.9 billion were driven by flows into the Core range and into funds with U. S. and broad developed market equity exposures.", + "Record fixed income net inflows of $59.9 billion were diversified across exposures and product lines, led by flows into the Core range, corporate and high yield bond funds.", + "iShares multi-asset and alternatives funds contributed a combined $5.7 billion of net inflows, primarily into commodities funds.", + "iShares represented 27% of long-term AUM at December 31, 2016 and 36% of long-term base fees for 2016.", + "Component changes in iShares AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Netinflows|Marketchange|FX impact|December 31,2016|\n|Equity|$823,156|$74,914|$56,469|$-3,287|$951,252|\n|Fixed income|254,190|59,913|3,782|-3,178|314,707|\n|Multi-asset|2,730|354|61|4|3,149|\n|Alternatives-1|12,485|5,298|1,055|-67|18,771|\n|Total|$1,092,561|$140,479|$61,367|$-6,528|$1,287,879|\n", + "(1) Amounts include commodity iShares.", + "Our broad iShares product range offers investors a precise, transparent and efficient way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult for many investors to access, as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently. ?", + "U. S. iShares AUM ended 2016 at $967.3 billion with $106.9 billion of net inflows driven by strong demand for the Core range and U. S. and broad developed market equities as well as a diverse range of fixed income products.2 In 2016, we saw increased investor focus on risk-aware, \u201csmart beta\u201d products, which saw $20.2 billion of net inflows. ?", + "International iShares AUM ended 2016 at $320.5 billion with net inflows of $33.6 billion led by fixed income net inflows of $21.9 billion, diversified across high yield, emerging market and investment grade corporate bond funds.2 Our international Core ranges in Canada and Europe demonstrated solid results in their third year, raising a combined $11.6 billion in net inflows as we continue to expand our international presence among buy-and-hold investors.", + "Institutional BlackRock\u2019s institutional AUM is well diversified by both product and region, and we serve institutional investors on six continents in sub-categories including: pensions, endowments and foundations, official institutions, and financial institutions.", + "Component changes in Institutional long-term AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Net inflows (outflows)|Marketchange|FX impact|December 31,2016|\n|Active:||||||\n|Equity|$121,442|$-7,449|$11,112|$-4,406|$120,699|\n|Fixed income|514,428|10,234|20,242|-8,177|536,727|\n|Multi-asset|252,041|13,322|18,516|-6,946|276,933|\n|Alternatives|74,941|1,811|619|-1,756|75,615|\n|Active subtotal|962,852|17,918|50,489|-21,285|1,009,974|\n|Index:||||||\n|Equity|1,285,419|-8,612|135,997|-23,800|1,389,004|\n|Fixed income|441,097|41,401|55,665|-39,488|498,675|\n|Multi-asset|6,258|-82|843|-91|6,928|\n|Alternatives|6,003|784|790|-503|7,074|\n|Index subtotal|1,738,777|33,491|193,295|-63,882|1,901,681|\n|Total|$2,701,629|$51,409|$243,784|$-85,167|$2,911,655|\n", + "From an enterprise risk management perspective, management sets limits on the levels of catastrophe loss exposure the Company may underwrite.", + "The limits are revised periodically based on a variety of factors, including but not limited to the Company\u2019s financial resources and expected earnings and risk/reward analyses of the business being underwritten.", + "The Company may purchase reinsurance to cover specific business written or the potential accumulation or aggregation of exposures across some or all of its operations.", + "Reinsurance purchasing decisions consider both the potential coverage and market conditions including the pricing, terms, conditions, availability and collectability of coverage, with the aim of securing cost effective protection from financially secure counterparties.", + "The amount of reinsurance purchased has varied over time, reflecting the Company\u2019s view of its exposures and the cost of reinsurance.", + "Management estimates that the projected net economic loss from its largest 100-year event in a given zone represents approximately 10% of its December 31, 2018 shareholders\u2019 equity.", + "Economic loss is the PML exposure, net of third party reinsurance, reduced by estimated reinstatement premiums to renew coverage and estimated income taxes.", + "The impact of income taxes on the PML depends on the distribution of the losses by corporate entity, which is also affected by inter-affiliate reinsurance.", + "Management also monitors and controls its largest PMLs at multiple points along the loss distribution curve, such as loss amounts at the 20, 50, 100, 250, 500 and 1,000 year return periods.", + "This process enables management to identify and control exposure accumulations and to integrate such exposures into enterprise risk, underwriting and capital management decisions.", + "The Company\u2019s catastrophe loss projections, segmented by risk zones, are updated quarterly and reviewed as part of a formal risk management review process.", + "The table below reflects the Company\u2019s PML exposure, net of third party reinsurance at various return periods for its top three zones/perils (as ranked by the largest 1 in 100 year economic loss) based on loss projection data as of January 1, 2019, adjusted to reflect Industry Loss Warranty (ILW) purchases at the same level the Company had available during 2018.", + "|Return Periods (in years)|1 in 20|1 in 50|1 in 100||1 in 250|1 in 500|1 in 1,000|\n|Exceeding Probability|5.0%|2.0%|1.0%|0.4%|0.2%|0.1%|\n|(Dollars in millions)||||||||\n|Zone/ Peril||||||||\n|Southeast U.S., Wind|$639|$888|$1,036||$1,315|$1,583|$2,444|\n|California, Earthquake|136|470|781||1,132|1,302|1,571|\n|Texas, Wind|158|467|769||1,077|1,152|1,236|\n", + "The projected net economic losses, defined as PML exposures, net of third party reinsurance, reinstatement premiums and estimated income taxes, for the top three zones/perils scheduled above are as follows:" + ], + "question_id": "simplong-test-3", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Company, what's the sum of Bank ? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents related to Mac OS X Version 10.6 Snow Leopard and excluded from R&D expense, while R&D expense for 2007 excluded $75 million of capitalized software development costs related to Mac OS X Leopard and iPhone.", + "Although total R&D expense increased 42% during 2008, it remained relatively flat as a percentage of net sales given the 35% increase in revenue during 2008.", + "The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company\u2019s core business strategy.", + "As such, the Company expects to increase spending in R&D to remain competitive.", + "Expenditures for R&D increased 10% or $70 million to $782 million in 2007 compared to 2006.", + "The increases in R&D expense were due primarily to an increase in R&D headcount in 2007 to support expanded R&D activities, partially offset by one less week of expenses in the first quarter of 2007 and the capitalized software development costs mentioned above.", + "Selling, General, and Administrative Expense (\u201cSG&A\u201d) Expenditures for SG&A increased $798 million or 27% to $3.8 billion in 2008 compared to 2007.", + "These increases are due primarily to higher stock-based compensation expenses, higher variable selling expenses resulting from the significant year-over-year increase in total net sales and the Company\u2019s continued expansion of its Retail segment in both domestic and international markets.", + "In addition, the Company incurred higher spending on marketing and advertising during 2008 compared to 2007.", + "Expenditures for SG&A increased $530 million or 22% during 2007 compared to 2006.", + "The increase was due primarily to higher direct and indirect channel variable selling expenses resulting from the significant year-over-year increase in total net sales in 2007, the Company\u2019s continued expansion of its Retail segment in both domestic and international markets, and higher spending on marketing and advertising, partially offset by one less week of expenses in the first quarter of 2007.", + "Other Income and Expense Other income and expense for the three fiscal years ended September 27, 2008, are as follows (in millions):", + "||2008|2007|2006|\n|Interest income|$653|$647|$394|\n|Other income (expense), net|-33|-48|-29|\n|Total other income and expense|$620|$599|$365|\n", + "Total other income and expense increased $21 million to $620 million during 2008 as compared to $599 million and $365 million in 2007 and 2006, respectively.", + "While the Company\u2019s cash, cash equivalents and short-term investment balances increased by 59% in 2008, other income and expense increased only 4% due to the decline in the weighted average interest rate earned of 3.44%.", + "The overall increase in other income and expense is attributable to the Company\u2019s higher cash and short-term investment balances, which more than offset the decline in interest rates during 2008 as compared to 2007.", + "The weighted average interest rate earned by the Company on its cash, cash equivalents, and short-term investments was 5.27% and 4.58% during 2007 and 2006, respectively.", + "During 2008, 2007 and 2006, the Company had no debt outstanding and accordingly did not incur any related interest expense.", + "Provision for Income Taxes The Company\u2019s effective tax rates were 30% for the years ended September 27, 2008 and September 29, 2007, and 29% for the year ended September 30, 2006.", + "The Company\u2019s effective rates differ from the statutory federal income tax rate of 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 27, 2008, the Company had deferred tax assets arising from deductible temporary differences, tax losses, and tax credits of $2.1 billion before being offset against certain deferred liabilities for presentation on the Company\u2019s balance sheet.", + "Management believes it is more likely than not that forecasted income, including", + "SILICON VALLEY BANCSHARES AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 23.", + "Regulatory Matters (Continued) The Company and the Bank are subject to capital adequacy guidelines issued by the Federal Reserve Board.", + "Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a material impact on the Company\u2019s and/or the Bank\u2019s financial condition and results of operations.", + "Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company\u2019s and the Bank\u2019s balance sheet items, as well as certain off-balance sheet items, as calculated under regulatory accounting practices.", + "The Company\u2019s and the Bank\u2019s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.", + "Under these capital guidelines, the minimum total risk-based capital ratio and Tier 1 risk-based capital ratio requirements are 10.0% and 6.0%, respectively, of risk-weighted assets and certain off-balance sheet items for a well capitalized depository institution.", + "The Federal Reserve Board has also established minimum capital leverage ratio guidelines for state member banks.", + "The ratio is determined using Tier 1 capital divided by quarterly average total assets.", + "The guidelines require a minimum of 5.0% for a well-capitalized depository institution.", + "The following table presents the capital ratios for the Company and the bank, as compared to the minimum regulatory capital requirements for an adequately capitalized depository institution, as of December 31, 2003 and 2002:", + "| | Actual Ratio| Actual Amount| Minimum Ratio| Minimum Capital Requirement|\n| | (Dollars in thousands)|\n|As of December 31, 2003:|||||\n|Total risk-based capital ratio|||||\n|Company|16.6%|$590,298|8.0%|$284,675|\n|Bank|14.0%|$476,807|8.0%|$273,308|\n|Tier 1 risk-based capital ratio|||||\n|Company|12.0%|$425,570|4.0%|$142,337|\n|Bank|12.7%|$433,834|4.0%|$136,654|\n|Tier 1 leverage ratio|||||\n|Company|10.3%|$425,570|4.0%|$164,855|\n|Bank|11.0%|$433,834|4.0%|$158,222|\n|As of December 31, 2002:|||||\n|Total risk-based capital ratio|||||\n|Company|16.0%|$555,979|8.0%|$277,383|\n|Bank|13.9%|$463,439|8.0%|$267,554|\n|Tier 1 risk-based capital ratio|||||\n|Company|14.8%|$512,303|4.0%|$138,691|\n|Bank|12.6%|$421,324|4.0%|$133,777|\n|Tier 1 leverage ratio|||||\n|Company|13.9%|$512,303|4.0%|$147,764|\n|Bank|11.8%|$421,324|4.0%|$142,365|\n", + "SILICON VALLEY BANCSHARES AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 24.", + "Stockholders\u2019 Rights Plan On October 22, 1998, the Company\u2019s board of directors (the \u201cBoard\u201d) approved and adopted a stockholders\u2019 rights plan (the \u201cRights Plan\u201d) to, among other things, protect the Company\u2019s stockholders from coercive takeover tactics.", + "On November 6, 2003, the Board approved and adopted Amendment No.1 to the Rights Plan to increase from 10% to 15% the minimum percentage of common shares that any person shall beneficially own to qualify as an \u201cAcquiring Person\u201d for purposes of triggering the stockholders\u2019 rights under the Rights Plan.", + "On January 29, 2004, the Board approved and adopted an amended and restated Rights Plan (the \u201cAmended and Restated Rights Plan\u201d), which supercedes and replaces in entirety the Rights Plan.", + "The following summary of the Rights and the Amended and Restated Rights Plan is a general description only and is subject to the detailed terms and conditions of the Amended and Restated Rights Plan, a copy of which is attached as Exhibit 4.20 to the Company\u2019s", + "SVB FINANCIAL GROUP AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - (Continued) Investments in Entities that Calculate Net Asset Value Per Share FASB guidance over certain fund investments requires that we disclose the fair value of funds, significant investment strategies of the investees, redemption features of the investees, restrictions on the ability to sell investments, estimate of the period of time over which the underlying assets are expected to be liquidated by the investee, and unfunded commitments related to the investments.", + "Our investments in debt funds and venture capital and private equity fund investments generally cannot be redeemed.", + "Alternatively, we expect distributions, if any, to be received primarily through IPOs and M&A activity of the underlying assets of the fund.", + "We currently do not have any plans to sell any of these fund investments.", + "If we decide to sell these investments in the future, the investee fund\u2019s management must approve of the buyer before the sale of the investments can be completed.", + "The fair values of the fund investments have been estimated using the net asset value per share of the investments, adjusted for any differences between our measurement date and the date of the fund investment\u2019s net asset value by using the most recently available financial information from the investee general partner, for example September 30 th , for our December 31 st consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period.", + "The following table is a summary of the estimated fair values of these investments and remaining unfunded commitments for each major category of these investments as of December 31, 2014 :", + "|(Dollars in thousands)|Carrying Amount|Fair Value|Unfunded Commitments|\n|Non-marketable securities (fair value accounting):||||\n|Venture capital and private equity fund investments -1|$1,130,882|$1,130,882|$462,314|\n|Non-marketable securities (equity method accounting):||||\n|Other investments -2|47,876|49,066|5,836|\n|Non-marketable securities (cost method accounting):||||\n|Venture capital and private equity fund investments -3|140,551|234,053|18,563|\n|Total|$1,319,309|$1,414,001|$486,713|\n", + "(1) Venture capital and private equity fund investments within non-marketable and other securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds.", + "These investments represent investments in venture capital and private equity funds that invest primarily in U. S. and global technology and life science & healthcare companies.", + "Included in the fair value and unfunded commitments of fund investments under fair value accounting are $1.0 billion and $459 million , respectively, attributable to noncontrolling interests.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds.", + "(2) Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U. S. and global technology and life science & healthcare companies.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds.", + "(3) Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U. S. and global technology and life science & healthcare companies.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds.", + "HEALTH CARE PROPERTY INVESTORS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued)", + "| | Year Ended December 31,|\n| |2005| 2004| 2003|\n| | (In thousands)|\n|Rental and other income|$74,690|$70,330|$16,850|\n|Net income (loss)|$-3,829|$4,932|$3,853|\n|HCP\u2019s equity income (loss)|$-1,379|$1,537|$1,694|\n|Fees earned by HCP|$3,102|$3,112|$2,491|\n|Distributions received|$5,302|$98,291|$\u2014|\n", + "HCP MOP acquired 100 properties from MedCap in October 2003 for cash of $464 million and the assumption of $26 million of mortgage debt that accrues interest at 7%.", + "In connection therewith, the Company contributed $143 million to HCP MOP.", + "In January 2004, HCP MOP completed $288 million of non-recourse mortgage financings, including $254 million at a weighted average fixed interest rate of 5.57% with the balance based on LIBOR plus 1.75%.", + "The Company received $92 million of distributions from HCP MOP in connection with this financing during early 2004.", + "The Company has not guaranteed any indebtedness or other obligations of HCP MOP.", + "Generally, the Company may only be required to provide additional funding to HCP MOP under limited circumstances as specified in the related agreements.", + "At December 31, 2005 and 2004, investments and advances to unconsolidated joint ventures includes outstanding advances to HCP MOP of $3.7 million and $6.4 million, respectively.", + "During the year ended December 31, 2005, HCP MOP revised its purchase price allocation related to its 2003 acquisition of certain properties acquired from MedCap Properties, LLC.", + "The revisions made by HCP MOP to the purchase price allocation attributed more value to below-market lease intangibles and other intangibles from real estate assets.", + "Lease intangibles generally amortize over a shorter period of time relative to tangible real estate assets.", + "The impact to net income for HCP MOP, for the year ended December 31, 2005, resulting from the purchase price allocation revisions was a charge of $1.4 million.", + "In late August and early September 2005, ten medical office buildings owned by HCP MOP, principally in Louisiana and the surrounding area, sustained varying degrees of damage due to hurricanes Katrina and Rita.", + "Due to the nature and extent of the overall damage to the area, the Company has not been able to finalize damage assessments.", + "Preliminary estimates indicate that four of the buildings have incurred substantial damage, and may be a total loss.", + "For the years ended December 31, 2005 and 2004, the four buildings generated revenues of $0.9 million and $1.4 million, respectively.", + "As of December 31, 2005, the $3.8 million carrying value of these four buildings was written off and an equal amount was recorded as a receivable for the expected insurance proceeds up to the carrying value of each building.", + "At December 31, 2005, the remaining six buildings had resumed operations with repairs underway.", + "Revenues for the six facilities undergoing repair were $5.8 million and $5.9 million for the years ended December 31, 2005, and 2004, respectively.", + "Repair costs and other related expenses for damages caused by hurricanes Katrina and Rita during the year ended December 31, 2005, were approximately $1.4 million.", + "The Company has property, business interruption and other related insurance coverage to mitigate the financial impact of these types of events; such coverage is subject to various limits and deductible provisions based on the terms of the policies.", + "Any excess insurance recovery above the carrying value of the assets is expected to be recognized by HCP MOP as a gain at the time the claims settle with the insurance carrier.", + "HCP, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Mr. Sullivan, a director of the Company, was a director of Covenant Care, Inc. through March 2006.", + "During 2006 Covenant Care made payments of approximately $8.2 million to the Company for the lease of certain of its nursing home properties.", + "Mr. Elcan, a former Executive Vice President of the Company through April 30, 2008, and certain members of Mr. Elcan\u2019s immediate family, including without limitation his wife and father-in-law, may be deemed to own directly or indirectly, in the aggregate, greater than 10% of the outstanding common stock of HCA, Inc. (\u2018\u2018HCA\u2019\u2019) at April 29, 2008.", + "During 2008, 2007 and 2006, HCA contributed $95 million, $83 million and $37 million, respectively, in aggregate revenues and interest income, for the lease of certain assets and obligations under debt securities.", + "Mr. Elcan and Mr. Klaritch, an Executive Vice President of the Company, were previously senior executives and limited liability company members of MedCap Properties, LLC, which was acquired in October 2003 by HCP and a joint venture of which HCP was the managing member.", + "As part of that transaction, MedCap Properties, LLC contributed certain property interests to a newly-formed entity, HCPI/Tennessee LLC, in exchange for DownREIT units.", + "In connection with the transactions, Messrs. Elcan and Klaritch received 610,397 and 113,431 non-managing member units, respectively, in HCPI/Tennessee, LLC in a distribution of their respective interests in MedCap Properties, LLC.", + "Each DownREIT unit is redeemable for an amount of cash approximating the then-current market value of two shares of HCP\u2019s common stock or, at HCP\u2019s option, two shares of HCP\u2019s common stock (subject to certain adjustments, such as stock splits, stock dividends and reclassifications).", + "In addition, the HCPI/Tennessee, LLC agreement provides for a \u2018\u2018make-whole\u2019\u2019 payment, intended to cover grossed-up tax liabilities, to the non-managing members upon the sale of certain properties acquired by HCPI/Tennessee, LLC in the MedCap transactions and other events.", + "The HCPI/Tennessee, LLC agreement was amended, with an effective date of January 1, 2007, to change the allocation of the taxable income among the members, to more closely correspond with the relative cash distributions each member receives.", + "Previously, taxable income was allocated disproportionately to the non-managing members to reflect the priority rights of the non-managing member unit holders in distributions of cash.", + "The amendment has no effect on the amounts of cash distributions to the non-managing members.", + "(25) Selected Quarterly Financial Data Selected quarterly information for the years ended December 31, 2008 and 2007 is as follows (in thousands, except per share amounts).", + "Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:", + "| | Three Months Ended During 2008|\n| | March 31| June 30| September 30| December 31|\n| | (in thousands, except share data, unaudited) |\n|Total revenues|$245,052|$249,054|$268,447|$263,265|\n|Income before income taxes, equity income from unconsolidated joint ventures and minority interests' share in earnings|37,495|43,976|100,211|44,876|\n|Total discontinued operations|19,457|194,018|30,450|241|\n|Net income applicable to common shares|45,129|227,012|120,135|35,089|\n|Dividends paid per common share|0.455|0.455|0.455|0.455|\n|Basic earnings per common share|0.21|0.97|0.49|0.14|\n|Diluted earnings per common share|0.21|0.96|0.49|0.14|\n", + "The following table summarizes our outstanding interest rate swap contracts as of December 31, 2010 (dollars in thousands):", + "| Date Entered| Maturity Date| Hedge Designation|Fixed Rate| Floating Rate Index| Notional Amount|Fair Value|\n|July 2005-1|July 2020|Cash Flow|3.82%|BMA Swap Index|$45,600|$-4,184|\n|November 2008|October 2016|Cash Flow|5.95%|1 Month LIBOR+1.50%|28,200|-3,191|\n|June 2009|September 2011|Fair Value|5.95%|1 Month LIBOR+4.21%|250,000|2,291|\n|July 2009|July 2013|Cash Flow|6.13%|1 Month LIBOR+3.65%|14,200|-545|\n|August 2009|February 2011|Cash Flow|0.87%|1 Month LIBOR|250,000|165|\n|August 2009|August 2011|Cash Flow|1.24%|1 Month LIBOR|250,000|1,409|\n", + "(1) Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million.", + "For a more detailed description of our derivative financial instruments, see Note 24 of the Consolidated Financial Statements and \u2018\u2018Quantitative and Qualitative Disclosures About Market Risk\u2019\u2019 in Item 7A.", + "Equity At December 31, 2010, we had 4.0 million shares of 7.25% Series E cumulative redeemable preferred stock, 7.8 million shares of 7.10% Series F cumulative redeemable preferred stock and 370.9 million shares of common stock outstanding.", + "At December 31, 2010, equity totaled $8.1 billion and our equity securities had a market value of $14.2 billion.", + "As of December 31, 2010, there were a total of 4.2 million DownREIT units outstanding in five limited liability companies in which we are the managing member.", + "The DownREIT units are exchangeable for an amount of cash approximating the then-current market value of shares of our common stock or, at our option, shares of our common stock (subject to certain adjustments, such as stock splits and reclassifications).", + "Shelf Registration We have a prospectus on file with the SEC as part of a registration statement on Form S-3, using a shelf registration process that expires in September 2012.", + "Under this \u2018\u2018shelf\u2019\u2019 process, we may sell from time to time any combination of the registered securities in one or more offerings.", + "The securities described in the prospectus include common stock, preferred stock and debt securities.", + "Each time we sell securities under the shelf registration, we will provide a prospectus supplement that will contain specific information about the terms of the securities being offered and of the offering.", + "We may offer and sell the securities pursuant to this prospectus from time to time in one or more of the following ways: through underwriters or dealers, through agents, directly to purchasers or through a combination of any of these methods of sales.", + "Proceeds from the sale of these securities may be used for general corporate purposes, which may include repayment of indebtedness, working capital and potential acquisitions.", + "Non-GAAP Financial Measure\u2014Funds From Operations (\u2018\u2018FFO\u2019\u2019) We believe FFO applicable to common shares, diluted FFO applicable to common shares, FFO, before the impact of impairments, recoveries and litigation provision, and basic and diluted FFO per common share are important supplemental measures of operating performance for a real estate investment trust.", + "Because the historical cost accounting convention used for real estate assets utilizes straight-line depreciation (except on land), such accounting presentation implies that the value of real estate assets diminishes predictably over time.", + "Since real estate values instead have historically risen and fallen with market conditions, presentations of operating results for a real estate investment trust", + "The following table summarizes occupancy and average annual rent trends for our owned portfolio for the years ended December 31, (square feet in thousands):", + "| |2012|2011|2010|2009| 2008|\n|Senior housing-1:||||||\n|Average annual rent per unit-2|$13,059|$12,887|$12,656|$11,918|$12,530|\n|Average capacity (units)(3)|37,089|33,911|24,453|24,209|24,143|\n|Post-acute/skilled nursing-1:||||||\n|Average annual rent per bed-2|$11,624|$11,140|$6,885|$6,817|$6,537|\n|Average capacity (beds)(3)|39,856|30,565|5,063|5,041|5,043|\n|Life science:||||||\n|Average occupancy percentage|90%|90%|89%|91%|87%|\n|Average annual rent per square foot-2|$45|$44|$44|$43|$37|\n|Average occupied square feet-3|6,250|6,076|5,740|5,554|5,362|\n|Medical office:||||||\n|Average occupancy percentage|91%|91%|91%|91%|90%|\n|Average annual rent per square foot-2|$27|$26|$26|$26|$25|\n|Average occupied square feet-3|12,295|11,865|11,583|11,577|11,719|\n|Hospital-1:||||||\n|Average annual rent per bed-2|$34,236|$33,499|$32,710|$29,825|$33,357|\n|Average capacity (beds)(3)|2,410|2,410|2,399|2,376|2,392|\n", + "(1) Senior housing includes average units of 5,008 and 1,672 for the years ended December 31, 2012 and 2011, respectively, that are in a RIDEA structure in which resident occupancy impacts our annual revenue.", + "The average resident occupancy for these units was 86% and 88% for the years ended December 31, 2012 and 2011, respectively.", + "All other senior housing, post-acute/skilled nursing and hospital facilities are generally leased to single tenants under triple-net lease structures for each of the periods reported, for which these facilities were or approximately 100% leased.", + "(2) Average annual rent per unit/square feet is presented as a ratio of revenues comprised of rental and related revenues, tenant recoveries and income from direct financing leases divided by the average capacity or average occupied square feet of the facilities and annualized for mergers and acquisitions for the year in which they occurred.", + "Average annual rent for leased properties (including DFLs) exclude termination fees and non-cash revenue adjustments (i. e. , straight-line rents, amortization of above and below market lease intangibles and DFL interest accretion).", + "Average annual rent for operating properties operated under a RIDEA structure is calculated based on NOI divided by the average capacity of the facilities.", + "(3) Capacity for senior housing facilities is measured in units (e. g. , studio, one or two bedroom units).", + "Capacity for post-acute/ skilled nursing and hospitals is measured in licensed bed count.", + "Capacity for life science facilities and MOBs is measured in square feet.", + "Average capacity for senior housing, post-acute/skilled nursing and hospitals is as reported by the respective tenants or operators for the twelve month period and one quarter in arrears from the periods presented." + ], + "question_id": "simplong-test-4", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "As As the chart 4 shows,what do all Total revenues sum up, excluding the Total revenues for Retirement Products and the Total revenues for Corporate Benefit Funding? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of the Company\u2019s common stock with (1) the Standard & Poor\u2019s (S&P) 500?", + "Index, (2) the S&P 500?", + "Materials Index, a group of 25 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector, (3) the S&P Aerospace & Defense Select Industry Index, a group of 33 companies categorized by Standard & Poor\u2019s as active in the \u201caerospace & defense\u201d industry and (4) the S&P 500?", + "Industrials Index, a group of 69 companies categorized by Standard & Poor\u2019s as active in the \u201cindustrials\u201d market sector.", + "The graph assumes, in each case, an initial investment of $100 on December 31, 2013, and the reinvestment of dividends.", + "Historical prices prior to the separation of Alcoa Corporation from the Company on November 1, 2016, have been adjusted to reflect the value of the Separation transaction.", + "The graph, table and related information shall not be deemed to be \u201cfiled\u201d with the SEC, nor shall such information be incorporated by reference into future filings under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.", + "Please note that the Company intends to replace the S&P 500?", + "Materials Index with the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index in subsequent stock performance graphs.", + "We believe that the companies and industries represented in the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index better reflect the markets in which the Company currently participates.", + "All three indices are represented in the graph below.", + "|As of December 31,|2013|2014|2015|2016|2017|2018|\n|Arconic Inc.|$100|$149.83|$94.62|$80.22|$119.02|$74.47|\n|S&P 500\u00aeIndex|100|113.69|115.26|129.05|157.22|150.33|\n|S&P 500\u00aeMaterials Index|100|106.91|97.95|114.30|141.55|120.74|\n|S&P Aerospace & Defense Select Industry Index|100|111.43|117.49|139.70|197.50|181.56|\n|S&P 500\u00aeIndustrials Index|100|109.83|107.04|127.23|153.99|133.53|\n", + "Copyright?2019 Standard & Poor's, a division of S&P Global.", + "All rights reserved", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2010|$415|$15|$287|\n|2011|$357|$17|$237|\n|2012|$288|$16|$190|\n|2013|$253|$15|$169|\n|2014|$221|$9|$119|\n|Thereafter|$723|$44|$994|\n", + "During 2008, the Company moved certain of its operations in New York from Long Island City to New York City.", + "As a result of this movement of operations and current market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Banking, Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "During 2009, pending sublease deals were impacted by the further decline of market conditions, which resulted in an additional lease impairment charge of $52 million.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.1 billion and $4.5 billion at December 31, 2009 and 2008, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $2.7 billion and $8.0 billion at December 31, 2009 and 2008, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards in Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $2.2 billion and $2.7 billion at December 31, 2009 and 2008, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.3 billion and $1.0 billion at December 31, 2009 and 2008, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.6 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Options.", + "Additional shares carried forward from the Stock Incentive Plan and available for issuance under the 2005 Stock Plan were 13,018,939 at December 31, 2009.", + "There were no shares carried forward from the 2000 Directors Stock Plan.", + "Each share issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares.", + "The number of shares reserved for issuance under the 2005 Directors Stock Plan are 2,000,000.", + "At December 31, 2009, the aggregate number of shares remaining available for issuance pursuant to the 2005 Stock Plan and the 2005 Directors Stock Plan were 47,903,044 and 1,838,594, respectively.", + "Stock Option exercises and other stock-based awards to employees settled in shares are satisfied through the issuance of shares held in treasury by the Company.", + "Under the current authorized share repurchase program, as described previously, sufficient treasury shares exist to satisfy foreseeable obligations under the Incentive Plans.", + "Compensation expense related to awards under the Incentive Plans is recognized based on the number of awards expected to vest, which represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant.", + "Unless a material deviation from the assumed rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual experience is recognized in the period the award becomes payable or exercisable.", + "Compensation expense of $69 million, $123 million and $146 million, and income tax benefits of $24 million, $43 million and $51 million, related to the Incentive Plans was recognized for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Compensation expense is principally related to the issuance of Stock Options, Performance Shares and Restricted Stock Units.", + "The majority of the awards granted by the Holding Company are made in the first quarter of each year.", + "Stock Options All Stock Options granted had an exercise price equal to the closing price of the Holding Company\u2019s common stock as reported on the New York Stock Exchange on the date of grant, and have a maximum term of ten years.", + "Certain Stock Options granted under the Stock Incentive Plan and the 2005 Stock Plan have or will become exercisable over a three year period commencing with the date of grant, while other Stock Options have or will become exercisable three years after the date of grant.", + "Stock Options issued under the 2000 Directors Stock Plan were exercisable immediately.", + "The date at which a Stock Option issued under the 2005 Directors Stock Plan becomes exercisable would be determined at the time such Stock Option is granted.", + "A summary of the activity related to Stock Options for the year ended December 31, 2009 is presented below.", + "The aggregate intrinsic value was computed using the closing share price on December 31, 2009 of $35.35 and December 31, 2008 of $34.86, as applicable.", + "||Shares Under| Weighted Average | Weighted Average Remaining Contractual Term (Years)| Aggregate Intrinsic Value (In millions)|\n||Option| Exercise Price|\n|Outstanding at January 1, 2009|26,158,275|$41.73|5.73|$\u2014|\n|Granted|5,450,662|$23.61|||\n|Exercised|-254,576|$30.23|||\n|Cancelled/Expired|-794,655|$39.79|||\n|Forfeited|-407,301|$48.72|||\n|Outstanding at December 31, 2009|30,152,405|$38.51|5.50|$\u2014|\n|Aggregate number of stock options expected to vest at December 31, 2009|29,552,636|$38.58|5.43|$\u2014|\n|Exercisable at December 31, 2009|21,651,876|$38.94|4.28|$\u2014|\n", + "The fair value of Stock Options is estimated on the date of grant using a binomial lattice model.", + "Significant assumptions used in the Company\u2019s binomial lattice model, which are further described below, include: expected volatility of the price of the Holding Company\u2019s common stock; risk-free rate of return; expected dividend yield on the Holding Company\u2019s common stock; exercise multiple; and the post\u0002vesting termination rate.", + "Expected volatility is based upon an analysis of historical prices of the Holding Company\u2019s common stock and call options on that common stock traded on the open market.", + "The Company uses a weighted-average of the implied volatility for publicly-traded call options with the longest remaining maturity nearest to the money as of each valuation date and the historical volatility, calculated using monthly closing prices of the Holding Company\u2019s common stock.", + "The Company chose a monthly measurement interval for historical volatility as it believes this better depicts the nature of employee option exercise decisions being based on longer-term trends in the price of the underlying shares rather than on daily price movements.", + "The binomial lattice model used by the Company incorporates different risk-free rates based on the imputed forward rates for U. S. Treasury Strips for each year over the contractual term of the option.", + "The table below presents the full range of rates that were used for options granted during the respective periods.", + "Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the Stock Option.", + "Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses Year Ended December 31, 2009", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home|International|Banking Corporate & Other|Total|\n||||(In millions)||||\n|Total revenues|$23,483|$3,543|$5,669|$3,113|$4,383|$867|$41,058|\n|Less: Net investment gains (losses)|-2,258|-1,606|-2,260|-2|-903|-743|-7,772|\n|Less: Adjustments related to net investment gains (losses)|-27|\u2014|\u2014|\u2014|\u2014|\u2014|-27|\n|Less: Other adjustments to revenues|-74|-217|187|\u2014|-169|22|-251|\n|Total operating revenues|$25,842|$5,366|$7,742|$3,115|$5,455|$1,588|$49,108|\n|Total expenses|$24,165|$4,108|$6,982|$2,697|$4,868|$2,571|$45,391|\n|Less: Adjustments related to net investment gains (losses)|39|-739|\u2014|\u2014|\u2014|\u2014|-700|\n|Less: Other adjustments to expenses|-1|\u2014|64|\u2014|37|38|138|\n|Total operating expenses|$24,127|$4,847|$6,918|$2,697|$4,831|$2,533|$45,953|\n", + "Year Ended December 31, 2008", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home| International|Banking Corporate & Other|Total|\n||(In millions)|\n|Total revenues|$26,754|$5,630|$7,559|$3,061|$6,001|$1,979|$50,984|\n|Less: Net investment gains (losses)|1,558|901|-1,629|-134|169|947|1,812|\n|Less: Adjustments related to net investment gains (losses)|18|\u2014|\u2014|\u2014|\u2014|\u2014|18|\n|Less: Other adjustments to revenues|-1|-35|45|\u2014|69|13|91|\n|Total operating revenues|$25,179|$4,764|$9,143|$3,195|$5,763|$1,019|$49,063|\n|Total expenses|$23,418|$5,049|$7,735|$2,728|$5,044|$1,949|$45,923|\n|Less: Adjustments related to net investment gains (losses)|262|577|\u2014|\u2014|\u2014|\u2014|839|\n|Less: Other adjustments to expenses|-52|\u2014|-29|\u2014|17|-4|-68|\n|Total operating expenses|$23,208|$4,472|$7,764|$2,728|$5,027|$1,953|$45,152|\n", + "Less: Adjustments related to net investment gains", + "The volatile market conditions that began in 2008 and continued into 2009 impacted several key components of our operating earnings available to common shareholders including net investment income, hedging costs, and certain market sensitive expenses.", + "The markets also positively impacted our operating earnings available to common shareholders as conditions began to improve during 2009, resulting in lower DAC and DSI amortization.", + "A $722 million decline in net investment income was the result of decreasing yields, including the effects of our higher quality, more liquid, but lower yielding investment position in response to the extraordinary market conditions.", + "The impact of declining yields caused a $1.6 billion decrease in net investment income, which was partially offset by an increase of $846 million due to growth in average invested assets calculated excluding unrealized gains and losses.", + "The decrease in yields resulted from the disruption and dislocation in the global financial markets experienced in 2008, which continued, but moderated, in 2009.", + "The adverse yield impact was concentrated in the following four invested asset classes: ?", + "Fixed maturity securities \u2014 primarily due to lower yields on floating rate securities from declines in short-term interest rates and an increased allocation to lower yielding, higher quality, U. S. Treasury, agency and government guaranteed securities, to increase liquidity in response to the extraordinary market conditions, as well as decreased income on our securities lending program, primarily due to the smaller size of the program in the current year.", + "These adverse impacts were offset slightly as conditions improved late in 2009 and we began to reallocate our portfolio to higher-yielding assets; ?", + "Real estate joint ventures \u2014 primarily due to declining property valuations on certain investment funds that carry their real estate at estimated fair value and operating losses incurred on properties that were developed for sale by development joint ventures; ?", + "Cash, cash equivalents and short-term investments \u2014 primarily due to declines in short-term interest rates; and ?", + "Mortgage loans \u2014 primarily due to lower prepayments on commercial mortgage loans and lower yields on variable rate loans reflecting declines in short-term interest rates.", + "Equity markets experienced some recovery in 2009, which led to improved yields on other limited partnership interests.", + "As many of our products are interest spread-based, the lower net investment income was significantly offset by lower interest credited expense on our investment and insurance products.", + "The financial market conditions also resulted in a $348 million increase in net guaranteed annuity benefit costs in our Retirement Products segment, as increased hedging losses were only partially offset by lower guaranteed benefit costs.", + "The key driver of the increase in other expenses stemmed from the impact of market conditions on certain expenses, primarily pension and postretirement benefit costs, reinsurance expenses and letter of credit fees.", + "These increases coupled with higher variable costs, such as" + ], + "question_id": "simplong-test-5", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Debt maturities of Thereafter, and Capital lease obligations of Less than 1 year ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "A summary of these various obligations at December 31, 2012, follows (in millions):", + "||Total|2013|2014 to2015|2016 to2017|Thereafter|\n|Reclamation and environmental obligationsa|$5,243|$246|$471|$329|$4,197|\n|Debt maturities|3,527|2|500|500|2,525|\n|Take-or-pay contractsb|2,200|976|731|286|207|\n|Scheduled interest payment obligationsc|1,289|121|241|226|701|\n|Operating lease obligations|205|32|38|31|104|\n|Totald|$12,464|$1,377|$1,981|$1,372|$7,734|\n", + "a.", + "Represents estimated cash payments, on an undiscounted and unescalated basis, associated with reclamation and environmental activities.", + "The timing and the amount of these payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for additional discussion of environmental and reclamation matters.", + "b.", + "Represents contractual obligations for purchases of goods or services that are defined by us as agreements that are enforceable and legally binding and that specify all significant terms.", + "Take-or\u0002pay contracts primarily comprise the procurement of copper concentrates ($799 million), electricity ($524 million) and transportation services ($448 million).", + "Some of our take-or-pay contracts are settled based on the prevailing market rate for the service or commodity purchased, and in some cases, the amount of the actual obligation may change over time because of market conditions.", + "Obligations for copper concentrates provide for deliveries of specified volumes to Atlantic Copper at market-based prices.", + "Electricity obligations are primarily for contractual minimum demand at the South America and Tenke mines.", + "Transportation obligations are primarily for South America contracted ocean freight and for North America rail freight.", + "c. Scheduled interest payment obligations were calculated using stated coupon rates for fixed-rate debt and interest rates applicable at December 31, 2012, for variable-rate debt.", + "d. This table excludes certain other obligations in our consolidated balance sheets, including estimated funding for pension obligations as the funding may vary from year to year based on changes in the fair value of plan assets and actuarial assumptions, accrued liabilities totaling $107 million that relate to unrecognized tax benefits where the timing of settlement is not determinable; Atlantic Copper's obligations for retired employees totaling $38 million (refer to Note 10); and PT Freeport Indonesia's reclamation and closure cash fund obligation totaling $17 million (refer to Note 13).", + "This table also excludes purchase orders for the purchase of inventory and other goods and services, as purchase orders typically represent authorizations to purchase rather than binding agreements.", + "In addition to our debt maturities and other contractual obligations discussed above, we have other commitments, which we expect to fund with available cash, projected operating cash flows, available credit facility or future financing transactions, if necessary.", + "These include (i) PT Freeport Indonesia\u2019s commitment to provide one percent of its annual revenue for the development of the local people in its area of operations through the Freeport Partnership Fund for Community Development, (ii) TFM\u2019s commitment to provide 0.3 percent of its annual revenue for the development of the local people in its area of operations and (iii) other commercial commitments, including standby letters of credit, surety bonds and guarantees.", + "Refer to Notes 13 and 14 for further discussion.", + "CONTINGENCIES Environmental The cost of complying with environmental laws is a fundamental and substantial cost of our business.", + "At December 31, 2012, we had $1.2 billion recorded in our consolidated balance sheets for environmental obligations attributed to CERCLA or analogous state programs and for estimated future costs associated with environmental obligations that are considered probable based on specific facts and circumstances.", + "During 2012, we incurred environmental capital expenditures and other environmental costs (including our joint venture partners\u2019 shares) of $612 million for programs to comply with applicable environmental laws and regulations that affect our operations, compared to $387 million in 2011 and $372 million in 2010.", + "The increase in environmental costs in 2012, compared with 2011 and 2010, primarily relates to higher expenditures for land and settlements of environmental matters (see Note 13 for further discussion).", + "For 2013, we expect to incur approximately $600 million of aggregate environmental capital expenditures and other environmental costs, which are part of our overall 2013 operating budget.", + "The timing and amount of estimated payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for further information about environmental regulation, including significant environmental matters.", + "Asset Retirement Obligations We recognize AROs as liabilities when incurred, with the initial measurement at fair value.", + "These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to income.", + "Reclamation costs for disturbances are recorded as an ARO in the period of disturbance.", + "Our cost estimates are reflected on a third-party cost basis and comply with our legal obligation to retire tangible, long-lived assets.", + "At December 31, 2012, we had $1.1 billion recorded in our consolidated balance sheets for AROs.", + "Spending", + "ILLUMINA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Advertising Costs The Company expenses advertising costs as incurred.", + "Advertising costs were approximately $440,000 for 2003, $267,000 for 2002 and $57,000 for 2001.", + "Income Taxes A deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities, as well as the expected future tax benefit to be derived from tax loss and credit carryforwards.", + "Deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability.", + "Valuation allowances are established when realizability of deferred tax assets is uncertain.", + "The effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted.", + "Foreign Currency Translation The functional currencies of the Company\u2019s wholly owned subsidiaries are their respective local currencies.", + "Accordingly, all balance sheet accounts of these operations are translated to U. S. dollars using the exchange rates in effect at the balance sheet date, and revenues and expenses are translated using the average exchange rates in effect during the period.", + "The gains and losses from foreign currency translation of these subsidiaries\u2019 financial statements are recorded directly as a separate component of stockholders\u2019 equity under the caption \u2018\u2018Accumulated other comprehensive income.", + "\u2019\u2019 Stock-Based Compensation At December 28, 2003, the Company has three stock-based employee and non-employee director compensation plans, which are described more fully in Note 5.", + "As permitted by SFAS No.123, Accounting for Stock-Based Compensation, the Company accounts for common stock options granted, and restricted stock sold, to employees, founders and directors using the intrinsic value method and, thus, recognizes no compensation expense for options granted, or restricted stock sold, with exercise prices equal to or greater than the fair value of the Company\u2019s common stock on the date of the grant.", + "The Company has recorded deferred stock compensation related to certain stock options, and restricted stock, which were granted prior to the Company\u2019s initial public offering with exercise prices below estimated fair value (see Note 5), which is being amortized on an accelerated amortiza\u0002tion methodology in accordance with Financial Accounting Standards Board Interpretation Number (\u2018\u2018FIN\u2019\u2019) 28.", + "Pro forma information regarding net loss is required by SFAS No.123 and has been determined as if the Company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement.", + "The fair value for these options was estimated at the dates of grant using the fair value option pricing model (Black Scholes) with the following weighted-average assumptions for 2003, 2002 and 2001:", + "||Year Ended December 28, 2003|Year Ended December 29, 2002|Year Ended December 30, 2001|\n|Weighted average risk-free interest rate|3.03%|3.73%|4.65%|\n|Expected dividend yield|0%|0%|0%|\n|Weighted average volatility|103%|104%|119%|\n|Estimated life (in years)|5|5|5|\n|Weighted average fair value of options granted|$3.31|$4.39|$7.51|\n", + "The Company renewed an unsecured bank credit line on April 29, 2010 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at June 30, 2010).", + "The credit line was renewed through April 29, 2012.", + "At June 30, 2010, $762 was outstanding.", + "The Company renewed a bank credit line on March 7, 2010 which provides for funding of up to $8,000 and bears interest at the Federal Reserve Board\u2019s prime rate (3.25% at June 30, 2010).", + "The credit line expires March 7, 2011 and is secured by $1,000 of investments.", + "At June 30, 2010, no amount was outstanding.", + "The Company has entered into a bank credit facility agreement that includes a revolving loan, a term loan and a bullet term loan.", + "The revolving loan allows short-term borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000.", + "The revolving loan terminates June 4, 2015.", + "At June 30, 2010, the outstanding revolving loan balance was $120,000.", + "The term loan has an original principal balance of $150,000, with quarterly principal payments of $5,625 beginning on September 30, 2011, and the remaining balance due June 4, 2015.", + "The bullet term loan had an original principal balance of $100,000.", + "The full balance, which would have been due on December 4, 2010, was paid in full on July 8, 2010 as set forth in Note 15 to the Consolidated Financial Statements (see Item 8).", + "Each of the loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company\u2019s leverage ratio.", + "The outstanding balances bear interest at a weighted average rate of 2.99%.", + "The loans are secured by pledges of capital stock of certain subsidiaries of the Company.", + "The loans are also guaranteed by certain subsidiaries of the Company.", + "The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement.", + "As of June 30, 2010, the Company was in compliance with all such covenants.", + "The Company has entered into various capital lease obligations for the use of certain computer equipment.", + "Included in property and equipment are related assets of $8,872.", + "At June 30, 2010, $5,689 was outstanding, of which $4,380 will be maturing in the next twelve months.", + "Contractual Obligations and Other Commitments At June 30, 2010 the Company\u2019s total off balance sheet contractual obligations were $36,935.", + "This balance consists of $27,228 of long-term operating leases for various facilities and equipment which expire from 2011 to 2017 and the remaining $9,707 is for purchase commitments related to property and equipment, particularly for contractual obligations related to the on-going construction of new facilities.", + "The table excludes $7,548 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.", + "Contractual obligations by Less than More than", + "|Contractual obligations by|Less than 1 year|||More than 5 years||\n|period as of June 30, 2010|1-3 years|3-5 years|TOTAL|\n|Operating lease obligations|$ 8,765|$ 9,422|$ 5,851|$ 3,190|$ 27,228|\n|Capital lease obligations|4,380|1,309|-|-|5,689|\n|Notes payable, including accrued interest|102,493|46,210|225,213|-|373,916|\n|Purchase obligations|9,707|-|-|-|9,707|\n|Total|$125,345|$56,941|$231,064|$3,190|$416,540|\n", + "Recent Accounting Pronouncements In December 2007, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Statement on Financial Accounting Standards (\u201cSFAS\u201d) No.141(R), \u201cBusiness Combinations,\u201d (\u201cSFAS 141(R)\u201d) which replaces SFAS No.141 and has since been incorporated into the Accounting Standards Codification (\u201cASC\u201d) as ASC 805-10.", + "ASC 805-10 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in the acquired entity and the goodwill acquired.", + "The Statement also establishes disclosure requirements which will enable users of the financial statements to evaluate the nature and financial effects of the business combination.", + "Relative to SFAS 141(R), the FASB issued FSP 141(R)-1 on April 1, 2009, which is now incorporated in ASC 805-20.", + "ASC 805-20 eliminates the requirement under FAS 141(R) to record assets and liabilities at the acquisition date for noncontractual contingencies at fair value where it is deemed \u201cmore-likely-than-not\u201d that an asset or liability would result.", + "Under ASC 805-20, such assets and liabilities would only need to be recorded where the fair value can be determined during the measurement period or where it is probable that an asset or liability exists at the acquisition date and the amount of fair value can be reasonably determined.", + "ASC 805-10 was effective for the Company on July 1, 2009.", + "The adoption", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2012/2011|2011/2010|\n|(Dollars in millions)|2012|2011|2010|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,073.1|$975.6|$865.4|$97.5|10.0%|$110.3|12.7%|\n|Net written premiums|852.1|820.5|620.3|31.6|3.9%|200.2|32.3%|\n|Premiums earned|$852.4|$821.2|$641.1|$31.3|3.8%|$180.1|28.1%|\n|Incurred losses and LAE|700.3|705.9|536.8|-5.6|-0.8%|169.2|31.5%|\n|Commission and brokerage|117.6|137.7|120.8|-20.1|-14.6%|16.9|14.0%|\n|Other underwriting expenses|103.0|89.5|69.7|13.5|15.1%|19.8|28.5%|\n|Underwriting gain (loss)|$-68.5|$-111.9|$-86.1|$43.5|-38.8%|$-25.8|30.0%|\n||||||Point Chg||Point Chg|\n|Loss ratio|82.2%|86.0%|83.7%||-3.8||2.3|\n|Commission and brokerage ratio|13.8%|16.8%|18.8%||-3.0||-2.0|\n|Other underwriting expense ratio|12.0%|10.8%|10.9%||1.2||-0.1|\n|Combined ratio|108.0%|113.6%|113.4%||-5.6||0.2|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums.", + "Gross written premiums increased by 12.7% to $975.6 million in 2011 compared to $865.4 million in 2010.", + "This was due to strategic portfolio changes with growth in short-tail business, primarily driven by the acquisition of Heartland, which provided $169.6 million of new crop insurance premium in 2011 and $54.0 million growth in A&H primary business, partially offset by the reduction of a large casualty program.", + "Net written premiums increased 32.3% to $820.5 million in 2011 compared to $620.3 million for the same period in 2010 due to higher gross premiums and reduced levels of ceded reinsurance, primarily due to the reduction of the large casualty program.", + "Premiums earned increased 28.1% to $821.2 million in 2011 compared to $641.1 million in 2010.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-6", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Cash and cash equivalents and marketable securities, Inventories and Total assets in 2014? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of 3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of \u20ac590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share).", + "The sale proceeds included \u20ac110 million ($144) that was contingent on the outcome of certain retender arrangements.", + "These proceeds were reflected in payables and accrued liabilities on our consolidated balance sheet as of 30 September 2013.", + "Based on the outcome of the retenders, we were contractually required to return proceeds to The Linde Group.", + "In the fourth quarter of 2014, we made a payment to settle this liability and recognized a gain of $1.5.", + "During the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business, which was primarily in the United Kingdom and Ireland, to its estimated net realizable value.", + "In the fourth quarter of 2013, an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) was recorded to update our estimate of the net realizable value.", + "In the first quarter of 2014, we sold the remaining portion of the Homecare business for \u00a1\u00ea6.1 million ($9.8) and recorded a gain on sale of $2.4.", + "We entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction.", + "Refer to Note 16, Commitments and Contingencies, for additional information.", + "The results of discontinued operations are summarized below:", + "||2014|2013|2012|\n|Sales|$8.5|$52.3|$258.0|\n|Income before taxes|$.7|$3.8|$68.1|\n|Income tax provision|\u2014|.2|20.8|\n|Income from operations of discontinued operations|.7|3.6|47.3|\n|Gain (Loss) on sale of business and impairment/write-down, net of tax|3.9|-13.6|120.8|\n|Income (Loss) from Discontinued Operations, net of tax|$4.6|$-10.0|$168.1|\n", + "The assets and liabilities classified as discontinued operations for the Homecare business at 30 September 2013 consisted of $2.5 in trade receivables, net, and $2.4 in payables and accrued liabilities.", + "As of 30 September 2014, no assets or liabilities were classified as discontinued operations.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) The Company measures and recognizes compensation expense at an amount equal to the fair value of share-based payments granted under compensation arrangements.", + "The weighted average fair value of options granted in fiscal 2014 and 2013 was $11.21 per share and $10.92 per share, respectively.", + "The fair values of the options granted were estimated on the date of their grant using the Black-Scholes option pricing model based on the following weighted average assumptions:", + "||Year Ended September 30,|\n||2014|2013|2012|\n|Risk free interest rate|2.01%|1.13%|\u2014|\n|Expected life (in years)|6.48|6.46|\u2014|\n|Expected volatility|48.80%|49.30%|\u2014|\n|Expected dividend yield|0.63%|0.63%|\u2014|\n", + "For fiscal 2014, 2013 and 2012, the Company\u2019s compensation expense related to stock option grants was $25.5 million, $18.6 million and $15.1 million, respectively, and at September 30, 2014, there was $71.7 million of total unrecognized compensation expense related to unvested stock option awards.", + "This expense is expected to be recognized over a weighted average period of 3.75 years.", + "Incentive Bonus Plan The Company's Incentive Bonus Plan provides for the Compensation Committee to award short-term performance bonuses to senior management based upon the level of achievement of certain criteria.", + "For fiscal 2014, 2013 and 2012 the Compensation Committee approved awards whereby certain executive officers could earn performance bonuses based upon percentages of the Company's pre-tax income.", + "Compensation expense related to these plans was $11.8 million, $9.8 million and $4.9 million in fiscal 2014, 2013 and 2012, respectively.", + "Restricted Stock Unit Agreement The Company has a Restricted Stock Unit Agreement (RSU Agreement) for awards to certain executive officers, other key employees and non-management directors pursuant to the Stock Incentive Plan.", + "Under the RSU Agreement, the Compensation Committee may award performance or service (time) based restricted stock units subject to the terms and conditions of the RSU Agreement and the Stock Incentive Plan.", + "In September 2010, the Compensation Committee approved and granted awards of 200,000 performance based restricted stock units (Performance RSUs) that vested at the end of a two-year performance period that ended September 30, 2012.", + "The number of units that vested depended on the Company's relative position as compared to its peers at the end of the two-year period in achieving certain performance criteria and ranged from 0% to 200% of the number of units granted.", + "The performance criteria were total shareholder return, return on investment, SG&A expense containment and gross profit.", + "Each Performance RSU represented the contingent right to receive one share of the Company's common stock if the vesting conditions were satisfied.", + "The Performance RSUs had no dividend or voting rights during the performance period.", + "The fair value of these awards on the date of grant was $11.53 per unit.", + "Based on the achievement of the performance criteria, 325,000 Performance RSUs were earned and vested on September 30, 2012.", + "Compensation expense for these awards was based on the Company's performance against the peer group, the elapsed portion of the performance period and the grant date fair value of the award.", + "Compensation expense for these awards was $2.6 million in fiscal 2012.", + "ITEM 6.", + "SELECTED FINANCIAL DATA The following selected consolidated financial data are derived from our Consolidated Financial Statements.", + "The data should be read in conjunction with Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d Item 1A, \u201cRisk Factors,\u201d Item 8, \u201cFinancial Statements and Supplementary Data,\u201d and all other financial data contained in this annual report on Form 10-K.", + "These historical results are not necessarily indicative of the results to be expected in the future.", + "||Year Ended September 30,|\n||2014|2013|2012|2011|2010|\n|||(In millions, except per share data)||\n|Operating Data:||||||\n|Revenues:||||||\n|Homebuilding|$7,858.5|$6,085.9|$4,236.2|$3,549.6|$4,309.7|\n|Financial Services|166.4|173.4|117.8|87.2|90.5|\n|Inventory and land option charges|85.2|31.1|6.2|45.4|64.7|\n|Gross profit \u2014 Homebuilding|1,589.9|1,232.4|743.8|526.3|682.1|\n|Income (loss) before income taxes:||||||\n|Homebuilding|768.8|592.3|203.7|-7.0|78.1|\n|Financial Services|45.4|65.5|39.2|19.1|21.4|\n|Income tax expense (benefit) (1) (2)|280.7|195.1|-713.4|-59.7|-145.6|\n|Net income|533.5|462.7|956.3|71.8|245.1|\n|Net income per share:||||||\n|Basic|1.57|1.44|3.01|0.23|0.77|\n|Diluted|1.50|1.33|2.77|0.23|0.77|\n|Cash dividends declared per common share|0.1375|0.1875|0.15|0.15|0.15|\n", + "September 30,", + "||September 30,|\n||2014|2013|2012|2011|2010|\n||(In millions)|\n|Balance Sheet Data:||||||\n|Cash and cash equivalents and marketable securities -3|$661.8|$977.4|$1,384.8|$1,068.1|$1,645.0|\n|Inventories|7,700.5|6,197.4|4,165.2|3,449.7|3,449.0|\n|Total assets|10,202.5|8,856.4|7,248.2|5,358.4|5,938.6|\n|Notes payable -4|3,682.8|3,509.0|2,493.1|1,704.6|2,171.8|\n|Total equity|5,119.7|4,061.4|3,594.7|2,623.5|2,622.9|\n", + "(1) The income tax benefit in fiscal 2012 reflects a $753.2 million reduction of our deferred tax asset valuation allowance during the year.", + "The income tax benefit in fiscal 2011 was due to receiving a favorable result from the Internal Revenue Service on a ruling request concerning capitalization of inventory costs, and the income tax benefit in fiscal 2010 resulted from a tax law change regarding net operating loss (NOL) carrybacks.", + "(2) At September 30, 2013 we recorded an out-of-period adjustment which increased both our deferred income taxes and the valuation allowance on our deferred income taxes by $23.9 million.", + "The out-of-period adjustment had no impact on our statement of operations during fiscal 2013.", + "Had deferred income taxes related to the state NOL carryforwards of each of our legal entities been reflected at state specific tax rates as of September 30, 2012, our deferred income taxes would have increased by $31.6 million and the corresponding valuation allowance on our deferred income taxes would have increased by $37.6 million.", + "This would have resulted in a decrease in our income tax benefit of $6.0 million in fiscal 2012, which would have reversed and decreased our income tax expense by $6.0 million in fiscal 2013.", + "The unadjusted amounts from fiscal 2012 were not material to our financial statements for fiscal 2012, and the out-of-period adjustment recorded in fiscal 2013 was not material to our financial statements for fiscal 2013.", + "(3) Cash balances of our captive insurance subsidiary, which are expected to be used to pay future anticipated legal claims, have been correctly presented within cash and cash equivalents rather than other assets as classified in prior years.", + "These balances were $40.9 million, $39.1 million, $37.9 million and $38.0 million at September 30, 2013, 2012, 2011 and 2010, respectively.", + "(4) Notes payable includes both homebuilding notes payable and the amount outstanding on our mortgage repurchase facility" + ], + "question_id": "simplong-test-7", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all Value (In millions) that are in the range of 400 and 1000 in 2011? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U. S. Acquisitions\u2014During the year ended December 31, 2010, the Company acquired 548 towers through multiple acquisitions in the United States for an aggregate purchase price of $329.3 million and contingent consideration of approximately $4.6 million.", + "The acquisition of these towers is consistent with the Company\u2019s strategy to expand in selected geographic areas and have been accounted for as business combinations.", + "The following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition (in thousands):", + "||Purchase Price Allocation|\n|Non-current assets|$442|\n|Property and equipment|64,564|\n|Intangible assets -1|260,898|\n|Current liabilities|-360|\n|Long-term liabilities|-7,802|\n|Fair value of net assets acquired|$317,742|\n|Goodwill -2|16,131|\n", + "(1) Consists of customer relationships of approximately $205.4 million and network location intangibles of approximately $55.5 million.", + "The customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years.", + "(2) Goodwill is expected to be deductible for income tax purposes.", + "The goodwill was allocated to the domestic rental and management segment.", + "The allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed.", + "South Africa Acquisition\u2014On November 4, 2010, the Company entered into a definitive agreement with Cell C (Pty) Limited to purchase up to approximately 1,400 existing towers, and up to 1,800 additional towers that either are under construction or will be constructed, for an aggregate purchase price of up to approximately $430 million.", + "The Company anticipates closing the purchase of up to 1,400 existing towers during 2011, subject to customary closing conditions.", + "Other Transactions Coltel Transaction\u2014On September 3, 2010, the Company entered into a definitive agreement to purchase the exclusive use rights for towers in Colombia from Colombia Telecomunicaciones S. A. E. S. P. (\u201cColtel\u201d) until 2023, when ownership of the towers will transfer to the Company at no additional cost.", + "Pursuant to that agreement, the Company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $86.8 million during the year ended December 31, 2010.", + "The Company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011, subject to customary closing conditions.", + "The transaction has been accounted for as a capital lease, with the aggregated purchase price being allocated to property and equipment and non-current assets.", + "Joint Venture with MTN Group\u2014On December 6, 2010, the Company entered into a definitive agreement with MTN Group Limited (\u201cMTN Group\u201d) to establish a joint venture in Ghana (\u201cTowerCo Ghana\u201d).", + "TowerCo Ghana, which will be managed by the Company, will be owned by a holding company of which a wholly owned American Tower subsidiary will hold a 51% share and a wholly owned MTN Group subsidiary (\u201cMTN Ghana\u201d) will hold a 49% share.", + "The transaction involves the sale of up to 1,876 of MTN Ghana\u2019s existing sites to", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) its homes constructed in these markets and of the warranty claims received in these markets as well as testing of specific homes.", + "Through September 30, 2010, the Company has spent approximately $4.9 million to remediate these homes.", + "While the Company will seek reimbursement for these remediation costs from various sources, it has not recorded a receivable for potential recoveries as of September 30, 2010.", + "The Company is continuing its investigation to determine if there are additional homes with the Chinese Drywall in these markets, which if found, would likely require the Company to further increase its warranty reserve for this matter in the future.", + "The remaining costs accrued to complete this remediation are based on the Company\u2019s estimate of remaining repair costs.", + "If the actual costs to remediate the homes differ from the estimated costs, the Company may revise its warranty estimate.", + "As of September 30, 2010, the Company has been named as a defendant in several lawsuits in Louisiana and Florida pertaining to Chinese Drywall.", + "As these actions are still in their early stages, the Company is unable to express an opinion as to the amount of damages, if any, beyond what has been reserved for repair as discussed above.", + "Changes in the Company\u2019s warranty liability during fiscal 2010 and 2009 were as follows:", + "||September 30,|\n||2010|2009|\n||(In millions)|\n|Warranty liability, beginning of year|$59.6|$83.4|\n|Warranties issued|19.5|16.8|\n|Changes in liability for pre-existing warranties|-5.0|-16.0|\n|Settlements made|-27.9|-24.6|\n|Warranty liability, end of year|$46.2|$59.6|\n", + "Insurance and Legal Claims The Company has been named as defendant in various claims, complaints and other legal actions including construction defect claims on closed homes and other claims and lawsuits incurred in the ordinary course of business, including employment matters, personal injury claims, land development issues, contract disputes and claims related to its mortgage activities.", + "The Company has established reserves for these contingencies, based on the expected costs of the claims.", + "The Company\u2019s estimates of such reserves are based on the facts and circumstances of individual pending claims and historical data and trends, including costs relative to revenues, home closings and product types, and include estimates of the costs of construction defect claims incurred but not yet reported.", + "These reserve estimates are subject to ongoing revision as the circumstances of individual pending claims and historical data and trends change.", + "Adjustments to estimated reserves are recorded in the accounting period in which the change in estimate occurs.", + "The Company\u2019s liabilities for these items were $571.3 million and $534.0 million at September 30, 2010 and 2009, respectively, and are included in homebuilding accrued expenses and other liabilities in the consolidated balance sheets.", + "Related to the contingencies for construction defect claims and estimates of construction defect claims incurred but not yet reported, and other legal claims and lawsuits incurred in the ordinary course of business, the Company estimates and records insurance receivables for these matters under applicable insurance policies when recovery is probable.", + "Additionally, the Company may have the ability to recover a portion of its legal expenses from its subcontractors when the Company has been named as an additional insured on their insurance policies.", + "Estimates of the Company\u2019s insurance receivables related to these matters totaled $251.5 million and $234.6 million at September 30, 2010 and 2009, respectively, and are included in homebuilding other assets in the consolidated balance sheets.", + "Expenses related to these items were approximately $43.2 million, $58.3 million and $53.8 million in fiscal 2010, 2009 and 2008, respectively.", + "Management believes that, while the outcome of such contingencies cannot be predicted with certainty, the liabilities arising from these matters will not have a material adverse effect on the Company\u2019s consolidated", + "The average price of our net sales orders in 2011 was $214,000, an increase of 3% from the $207,000 average in 2010.", + "The largest percentage increases were in our Southwest and West regions and were primarily due to opening new communities and adjusting our product mix, with higher priced communities representing more of our sales.", + "Our annual sales order cancellation rate was 27% in fiscal 2011, compared to 26% in fiscal 2010.", + "These cancellation rates were above historical levels, reflecting the challenges in most of our homebuilding markets.", + "||Sales Order Backlog As of September 30,|\n||Homes in Backlog|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|606|472|28%|$147.6|$103.4|43%|$243,600|$219,100|11%|\n|Midwest|288|247|17%|80.6|70.1|15%|279,900|283,800|-1%|\n|Southeast|1,285|812|58%|246.9|162.5|52%|192,100|200,100|-4%|\n|South Central|1,710|1,691|1%|309.5|297.3|4%|181,000|175,800|3%|\n|Southwest|426|405|5%|76.6|71.9|7%|179,800|177,500|1%|\n|West|539|501|8%|175.0|145.6|20%|324,700|290,600|12%|\n||4,854|4,128|18%|$1,036.2|$850.8|22%|$213,500|$206,100|4%|\n", + "Sales Order Backlog Our homes in backlog at September 30, 2011 increased 18% from the prior year, with significant increases in our East, Midwest and Southeast regions.", + "The number of homes in backlog in these regions benefited from more active communities and improved third and fourth quarter sales as compared with the same periods of the prior year.", + "Homes Closed and Home Sales Revenue", + "||Homes Closed and Home Sales Revenue Fiscal Year Ended September 30,|\n||Homes Closed|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|1,932|2,114|-9%|$438.4|$492.2|-11%|$226,900|$232,800|-3%|\n|Midwest|964|1,187|-19%|261.5|330.9|-21%|271,300|278,800|-3%|\n|Southeast|3,546|4,049|-12%|691.8|745.2|-7%|195,100|184,000|6%|\n|South Central|6,150|8,046|-24%|1,080.0|1,378.8|-22%|175,600|171,400|2%|\n|Southwest|1,263|1,872|-33%|234.8|329.7|-29%|185,900|176,100|6%|\n|West|2,840|3,607|-21%|835.8|1,025.5|-18%|294,300|284,300|4%|\n||16,695|20,875|-20%|$3,542.3|$4,302.3|-18%|$212,200|$206,100|3%|\n", + "Home Sales Revenue Revenues from home sales decreased 18%, to $3,542.3 million (16,695 homes closed) in 2011 from $4,302.3 million (20,875 homes closed) in 2010.", + "The average selling price of homes closed during 2011 was $212,200, up 3% from the $206,100 average in 2010 which reflected a change in product mix rather than broad price appreciation.", + "During fiscal 2011, home sales revenues decreased in all of our market regions, resulting from decreases in the number of homes closed.", + "The number of homes closed in fiscal 2011 decreased 20% due to decreases in all of our market regions.", + "The federal homebuyer tax credit helped stimulate demand for new homes during fiscal 2010 and following its expiration we experienced a significant decline in demand for our homes that extended into fiscal 2011.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 75 Effective August 1, 2017, the Board of Directors authorized the repurchase of up to $500 million of the Company\u2019s debt securities effective through July 31, 2018.", + "All of the $500 million authorization was remaining at September 30, 2017.", + "Financial Services: The Company\u2019s mortgage subsidiary, DHI Mortgage, has a mortgage repurchase facility that is accounted for as a secured financing.", + "The mortgage repurchase facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to the counterparties against the transfer of funds by the counterparties, thereby becoming purchased loans.", + "DHI Mortgage then has the right and obligation to repurchase the purchased loans upon their sale to third-party purchasers in the secondary market or within specified time frames from 45 to 60 days in accordance with the terms of the mortgage repurchase facility.", + "In February 2017, the mortgage repurchase facility was amended to increase its capacity to $600 million and extend its maturity date to February 23, 2018.", + "The capacity of the facility increases, without requiring additional commitments, to $725 million for approximately 30 days at each quarter end and to $800 million for approximately 45 days at fiscal year end.", + "The capacity can also be increased to $1.0 billion subject to the availability of additional commitments.", + "As of September 30, 2017, $540.1 million of mortgage loans held for sale with a collateral value of $520.0 million were pledged under the mortgage repurchase facility.", + "As a result of advance paydowns totaling $100.0 million, DHI Mortgage had an obligation of $420.0 million outstanding under the mortgage repurchase facility at September 30, 2017 at a 3.3% annual interest rate.", + "The mortgage repurchase facility is not guaranteed by D. R. Horton, Inc. or any of the subsidiaries that guarantee the Company\u2019s homebuilding debt.", + "The facility contains financial covenants as to the mortgage subsidiary\u2019s minimum required tangible net worth, its maximum allowable ratio of debt to tangible net worth and its minimum required liquidity.", + "These covenants are measured and reported to the lenders monthly.", + "At September 30, 2017, DHI Mortgage was in compliance with all of the conditions and covenants of the mortgage repurchase facility.", + "In the past, DHI Mortgage has been able to renew or extend its mortgage credit facility at a sufficient capacity and on satisfactory terms prior to its maturity and obtain temporary additional commitments through amendments to the credit facility during periods of higher than normal volumes of mortgages held for sale.", + "The liquidity of the Company\u2019s financial services business depends upon its continued ability to renew and extend the mortgage repurchase facility or to obtain other additional financing in sufficient capacities.", + "NOTE E \u2013 CAPITALIZED INTEREST The following table summarizes the Company\u2019s interest costs incurred, capitalized and expensed during the years ended September 30, 2017, 2016 and 2015." + ], + "question_id": "simplong-test-8", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Projected benefit obligation at beginning of year of Con Edison reach in 2016 if it continues to grow at its current rate? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "(a) Relates to an increase in CECONY\u2019s pension obligation of $45 million from a 1999 special retirement program.", + "Funded Status The funded status at December 31, 2015, 2014 and 2013 was as follows:", + "||Con Edison|CECONY|\n|(Millions of Dollars)|2015|2014|2013|2015|2014|2013|\n|CHANGE IN PROJECTED BENEFIT OBLIGATION|||||||\n|Projected benefit obligation at beginning of year|$15,081|$12,197|$13,406|$14,137|$11,429|$12,572|\n|Service cost \u2013 excluding administrative expenses|293|221|259|274|206|241|\n|Interest cost on projected benefit obligation|575|572|537|538|536|503|\n|Net actuarial (gain)/loss|-996|2,641|-1,469|-931|2,484|-1,388|\n|Plan amendments|\u2014|6|\u2014|\u2014|\u2014|\u2014|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|PROJECTED BENEFIT OBLIGATION AT END OF YEAR|$14,377|$15,081|$12,197|$13,482|$14,137|$11,429|\n|CHANGE IN PLAN ASSETS|||||||\n|Fair value of plan assets at beginning of year|$11,495|$10,755|$9,135|$10,897|$10,197|$8,668|\n|Actual return on plan assets|126|752|1,310|118|715|1,241|\n|Employer contributions|750|578|879|697|535|819|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|Administrative expenses|-36|-34|-33|-35|-32|-32|\n|FAIR VALUE OF PLAN ASSETS AT END OF YEAR|$11,759|$11,495|$10,755|$11,141|$10,897|$10,197|\n|FUNDED STATUS|$-2,618|$-3,586|$-1,442|$-2,341|$-3,240|$-1,232|\n|Unrecognized net loss|$3,909|$4,888|$2,759|$3,704|$4,616|$2,617|\n|Unrecognized prior service costs|16|20|17|3|4|6|\n|Accumulated benefit obligation|12,909|13,454|11,004|12,055|12,553|10,268|\n", + "The decrease in the pension plan\u2019s projected benefit obligation (due primarily to increased discount rates) was the primary cause of the decreased pension liability at Con Edison and CECONY of $968 million and $899 million, respectively, compared with December 31, 2014.", + "For Con Edison, this decrease in pension liability corresponds with a decrease to regulatory assets of $967 million for unrecognized net losses and unrecognized prior service costs associated with the Utilities consistent with the accounting rules for regulated operations, a credit to OCI of $10 million (net of taxes) for the unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses and O&R\u2019s New Jersey and Pennsylvania utility subsidiaries.", + "For CECONY, the decrease in pension liability corresponds with a decrease to regulatory assets of $911 million for unrecognized net losses and unrecognized prior service costs consistent with the accounting rules for regulated operations, a credit to OCI of $1 million (net of taxes) for unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses.", + "A portion of the unrecognized net loss and prior service cost for the pension plan, equal to $603 million and $4 million, respectively, will be recognized from accumulated OCI and the regulatory asset into net periodic benefit cost over the next year for Con Edison.", + "Included in these amounts are $570 million and $2 million, respectively, for CECONY.", + "At December 31, 2015 and 2014, Con Edison\u2019s investments include $243 million and $225 million, respectively, held in external trust accounts for benefit payments pursuant to the supplemental retirement plans.", + "Included in these amounts for CECONY were $221 million and $208 million, respectively.", + "See Note P. The accumulated benefit obligations for the supplemental retirement plans for Con Edison and CECONY were $285 million and $249 million as of December 31, 2015 and $289 million and $250 million as of December 31, 2014, respectively", + "Contract options in our defense businesses represent agreements to perform additional work beyond the products and services associated with firm contracts, if the customer exercises the option.", + "These options are negotiated in conjunction with a firm contract and provide the terms under which the customer may elect to procure additional units or serv\u0002ices at a future date.", + "Contract options in the Aerospace group represent options to purchase new aircraft and long-term agreements with fleet customers.", + "We recognize options in backlog when the customer exercises the option and establishes a firm order.", + "On December 31, 2009, the estimated potential value associated with these IDIQ contracts and contract options was approximately $17.6 billion, up from $16.8 billion at the end of 2008.", + "This represents our estimate of the potential value we will receive.", + "The actual amount of funding received in the future may be higher or lower.", + "We expect to realize this value over the next 10 to 15 years.", + "REVIEW OF OPERATING SEGMENTS AEROSPACE Review of 2009 vs. 2008", + "| Year Ended December 31|2009|2008|Variance|\n|Revenues|$5,171|$5,512|$-341|-6.2%|\n|Operating earnings|707|1,021|-314|-30.8%|\n|Operating margin|13.7%|18.5%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|94|156|-62|-39.7%|\n|Completion|110|152|-42|-27.6%|\n", + "The Aerospace group\u2019s revenues decreased in 2009, the net result of a 24 percent decline in Gulfstream revenues that was offset in part by revenues from Jet Aviation, which we acquired in the fourth quarter of 2008.", + "The combination of the global economic deterioration and credit crisis along with negative business-jet rhetoric had a significant impact on the business-jet market in 2009.", + "To adjust to the economic conditions and weakened demand, we reduced Gulfstream\u2019s 2009 aircraft production and delivery schedule, primarily in the group\u2019s mid\u0002size models, to bridge the market downturn.", + "This included a five-week furlough at the group\u2019s production center in Savannah, Georgia, in July and August.", + "As a result, aircraft-manufacturing revenues decreased 28 percent in 2009 compared with 2008.", + "The economic environment also impacted the group\u2019s aircraft services business.", + "Organic aircraft\u0002services revenues were down 15 percent in 2009 resulting from reduced flying hours and customer deferral of aircraft maintenance.", + "The decline in aircraft manufacturing and services revenues was slightly offset by higher pre-owned aircraft revenues in 2009.", + "The group sold six pre-owned aircraft for $124 in 2009 compared with two sales for $18 in 2008.", + "The group\u2019s operating earnings declined in 2009 compared with 2008 due primarily to the factors noted above.", + "The components of the reduction in earnings were as follows:", + "|Aircraft manufacturing and completions|$-220|\n|Pre-owned aircraft|-18|\n|Aircraft services|1|\n|Other|-77|\n|Total decrease in operating earnings|$-314|\n", + "The net decrease in the group\u2019s aircraft manufacturing and comple\u0002tions earnings in 2009 resulted from the reduction in Gulfstream aircraft deliveries offset in part by the addition of Jet Aviation\u2019s aircraft comple\u0002tions and refurbishing business.", + "The earnings decline associated with the decreased Gulfstream volume was mitigated by cost-reduction initiatives, a shift in the mix of aircraft deliveries toward large-cabin aircraft, and liq\u0002uidated damages collected on defaulted aircraft contracts.", + "As a result, aircraft manufacturing margins increased in 2009 over 2008 despite the decline in volume during the year.", + "The group continues to focus on reduc\u0002ing costs through production improvements and operational efficiencies to maintain aircraft-manufacturing margins.", + "In late 2008 and early 2009, the supply in the global pre-owned air\u0002craft market increased significantly, putting considerable pressure on pricing.", + "As a result, the group wrote down the carrying value of its pre\u0002owned aircraft inventory in 2009.", + "Pricing in the pre-owned market appears to have stabilized in the second half of 2009, particularly for large-cabin aircraft.", + "The group continues to work to minimize its pre\u0002owned aircraft exposure, with four pre-owned aircraft valued at $60 remaining in inventory at the end of 2009.", + "Aircraft services earnings were steady in 2009 compared with 2008 as the addition of Jet Aviation\u2019s maintenance and repair activities, fixed\u0002base operations and aircraft management services offset a decrease in organic aircraft services earnings.", + "A significant reduction in flight hours in the business-jet market put competitive pressure on aircraft mainte\u0002nance and repair earnings in 2009.", + "The group\u2019s operating earnings also were impacted negatively in 2009 by severance costs associated with workforce reduction activities and intangible asset amortization related to the Jet Aviation acquisition.", + "The factors discussed above and the addition of lower-margin Jet Aviation business caused the group\u2019s overall operating margins to decrease 480 basis points in 2009 compared with 2008.", + "Overview Vornado Realty Trust (\u201cVornado\u201d) is a fully-integrated real estate investment trust (\u201cREIT\u201d) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L. P. , a Delaware limited partnership (the \u201cOperating Partnership\u201d).", + "Accordingly, Vornado\u2019s cash flow and ability to pay dividends to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors.", + "Vornado is the sole general partner of, and owned approximately 93.5% of the common limited partnership interest in the Operating Partnership at December 31, 2011.", + "All references to \u201cwe,\u201d \u201cus,\u201d \u201cour,\u201d the \u201cCompany\u201d and \u201cVornado\u201d refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.", + "We own and operate office, retail and showroom properties (our \u201ccore\u201d operations) with large concentrations of office and retail properties in the New York City metropolitan area and in the Washington, DC / Northern Virginia area.", + "In addition, we have a 32.7% interest in Toys \u201cR\u201d Us, Inc. (\u201cToys\u201d) which has a significant real estate component, a 32.4% interest in Alexander\u2019s, Inc. (NYSE: ALX) (\u201cAlexander\u2019s\u201d), which has seven properties in the greater New York metropolitan area, as well as interests in other real estate and related investments.", + "Our business objective is to maximize shareholder value, which we measure by the total return provided to our shareholders.", + "Below is a table comparing our performance to the Morgan Stanley REIT Index (\u201cRMS\u201d) and the SNL REIT Index (\u201cSNL\u201d) for the following periods ended December 31, 2011:", + "| | Total Return-1|\n| | Vornado| RMS| SNL|\n|One-year|-4.6%|8.7%|8.3%|\n|Three-year|40.2%|79.6%|79.9%|\n|Five-year|-25.2%|-7.3%|-3.9%|\n|Ten-year|187.0%|163.2%|175.4%|\n|||||\n||||\n", + "We intend to achieve our business objective by continuing to pursue our investment philosophy and executing our operating strategies through: ?", + "Maintaining a superior team of operating and investment professionals and an entrepreneurial spirit; ?", + "Investing in properties in select markets, such as New York City and Washington, DC, where we believe there is a high likelihood of capital appreciation; ?", + "Acquiring quality properties at a discount to replacement cost and where there is a significant potential for higher rents; ?", + "Investing in retail properties in select under-stored locations such as the New York City metropolitan area; ?", + "Developing and redeveloping existing properties to increase returns and maximize value; and ?", + "Investing in operating companies that have a significant real estate component.", + "We expect to finance our growth, acquisitions and investments using internally generated funds, proceeds from possible asset sales and by accessing the public and private capital markets.", + "We may also offer Vornado common or preferred shares or Operating Partnership units in exchange for property and may repurchase or otherwise reacquire these securities in the future.", + "We compete with a large number of real estate property owners and developers, some of which may be willing to accept lower returns on their investments than we are.", + "Principal factors of competition include rents charged, attractiveness of location, the quality of the property and the breadth and the quality of services provided.", + "Our success depends upon, among other factors, trends of the national, regional and local economies, the financial condition and operating results of current and prospective tenants and customers, availability and cost of capital, construction and renovation costs, taxes, governmental regulations, legislation and population trends.", + "See \u201cRisk Factors\u201d in Item 1A for additional information regarding these factors.", + "Costs under the Transformational Cost Management Program, which were primarily recorded in selling, general and administrative expenses and included in the fiscal year ended August 31, 2019 were as follows (in millions):" + ], + "question_id": "simplong-test-9", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Active and other in the years with the least Company stock/ESOP?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Note 21.", + "Expenses During the fourth quarter of 2008, we elected to provide support to certain investment accounts managed by SSgA through the purchase of asset- and mortgage-backed securities and a cash infusion, which resulted in a charge of $450 million.", + "SSgA manages certain investment accounts, offered to retirement plans, that allow participants to purchase and redeem units at a constant net asset value regardless of volatility in the underlying value of the assets held by the account.", + "The accounts enter into contractual arrangements with independent third-party financial institutions that agree to make up any shortfall in the account if all the units are redeemed at the constant net asset value.", + "The financial institutions have the right, under certain circumstances, to terminate this guarantee with respect to future investments in the account.", + "During 2008, the liquidity and pricing issues in the fixed-income markets adversely affected the market value of the securities in these accounts to the point that the third-party guarantors considered terminating their financial guarantees with the accounts.", + "Although we were not statutorily or contractually obligated to do so, we elected to purchase approximately $2.49 billion of asset- and mortgage-backed securities from these accounts that had been identified as presenting increased risk in the current market environment and to contribute an aggregate of $450 million to the accounts to improve the ratio of the market value of the accounts\u2019 portfolio holdings to the book value of the accounts.", + "We have no ongoing commitment or intent to provide support to these accounts.", + "The securities are carried in investment securities available for sale in our consolidated statement of condition.", + "The components of other expenses were as follows for the years ended December 31:", + "|(In millions)|2008|2007|2006|\n|Customer indemnification obligation|$200|||\n|Securities processing|187|$79|$37|\n|Other|505|399|281|\n|Total other expenses|$892|$478|$318|\n", + "In September and October 2008, Lehman Brothers Holdings Inc. , or Lehman Brothers, and certain of its affiliates filed for bankruptcy or other insolvency proceedings.", + "While we had no unsecured financial exposure to Lehman Brothers or its affiliates, we indemnified certain customers in connection with these and other collateralized repurchase agreements with Lehman Brothers entities.", + "In the then current market environment, the market value of the underlying collateral had declined.", + "During the third quarter of 2008, to the extent these declines resulted in collateral value falling below the indemnification obligation, we recorded a reserve to provide for our estimated net exposure.", + "The reserve, which totaled $200 million, was based on the cost of satisfying the indemnification obligation net of the fair value of the collateral, which we purchased during the fourth quarter of 2008.", + "The collateral, composed of commercial real estate loans which are discussed in note 5, is recorded in loans and leases in our consolidated statement of condition.", + "Management Fees We provide a broad range of investment management strategies, specialized investment management advisory services and other financial services for corporations, public funds, and other sophisticated investors.", + "These services are offered through SSgA.", + "Based upon assets under management, SSgA is the largest manager of institutional assets worldwide, the largest manager of assets for tax-exempt organizations (primarily pension plans) in the United States, and the third largest investment manager overall in the world.", + "SSgA offers a broad array of investment management strategies, including passive and active, such as enhanced indexing and hedge fund strategies, using quantitative and fundamental methods for both U. S. and global equities and fixed income securities.", + "SSgA also offers exchange traded funds, or ETFs, such as the SPDR?", + "Dividend ETFs.", + "The 10% decrease in management fees from 2007 primarily resulted from declines in average month-end equity market valuations and lower performance fees.", + "Average month-end equity market valuations, individually presented in the above \u201cINDEX\u201d table, were down an average of 18% compared to 2007.", + "The decrease in performance fees from $72 million in 2007 to $21 million in 2008 was generally the result of reduced levels of assets under management subject to performance fees, and somewhat lower relative performance measured against specified benchmarks during 2008.", + "Management fees generated from customers outside the United States were approximately 40% of total management fees for 2008, down slightly from 41% for 2007.", + "At year-end 2008, assets under management were $1.44 trillion, compared to $1.98 trillion at year-end 2007.", + "While certain management fees are directly determined by the value of assets under management and the investment strategy employed, management fees reflect other factors as well, including our relationship pricing for customers who use multiple services, and the benchmarks specified in the respective management agreements related to performance fees.", + "Accordingly, no direct correlation necessarily exists between the value of assets under management, market indices and management fee revenue.", + "The overall decrease in assets under management at December 31, 2008 compared to December 31, 2007 resulted from declines in market valuations and from a net loss of business, with declines in market valuations representing the substantial majority of the decrease.", + "During 2008, we experienced an aggregate net loss of business of approximately $55 billion, compared to net new business of approximately $116 billion during 2007.", + "Our levels of assets under management were affected by a number of factors, including investor issues related to SSgA\u2019s active fixed-income strategies and the relative under-performance of certain of our passive equity products.", + "The net loss of business of $55 billion for 2008 did not reflect new business awarded to us during 2008 that had not been installed prior to December 31, 2008.", + "This new business will be reflected in assets under management in future periods after installation.", + "Assets under management consisted of the following at December 31: ASSETS UNDER MANAGEMENT", + "| As of December 31,| 2008| 2007| 2006| 2005| 2004|2007-2008 Annual Growth Rate|2004-2008 Compound Annual Growth Rate|\n| (Dollars in billions)||||||||\n|Equities:||||||||\n|Passive|$576|$803|$691|$625|$600|-28%|-1%|\n|Active and other|91|206|181|147|122|-56|-7|\n|Company stock/ESOP|39|79|85|76|77|-51|-16|\n|Total equities|706|1,088|957|848|799|-35|-3|\n|Fixed-income:||||||||\n|Passive|238|218|180|128|106|9|22|\n|Active|32|41|34|28|35|-22|-2|\n|Cash and money market|468|632|578|437|414|-26|3|\n|Total fixed-income and cash/money market|738|891|792|593|555|-17|7|\n|Total|$1,444|$1,979|$1,749|$1,441|$1,354|-27|2|\n", + "To measure, monitor, and report on our interest-rate risk position, we use (1) NIR simulation, or NIR-at-risk, which measures the impact on NIR over the next twelve months to immediate, or \u201crate shock,\u201d and gradual, or \u201crate ramp,\u201d changes in market interest rates; and (2) economic value of equity, or EVE, which measures the impact on the present value of all NIR-related principal and interest cash flows of an immediate change in interest rates.", + "NIR-at-risk is designed to measure the potential impact of changes in market interest rates on NIR in the short term.", + "EVE, on the other hand, is a long-term view of interest-rate risk, but with a view toward liquidation of State Street.", + "Both of these measures are subject to ALCO-established guidelines, and are monitored regularly, along with other relevant simulations, scenario analyses and stress tests by both Global Treasury and ALCO.", + "In calculating our NIR-at-risk, we start with a base amount of NIR that is projected over the next twelve months, assuming that the then-current yield curve remains unchanged over the period.", + "Our existing balance sheet assets and liabilities are adjusted by the amount and timing of transactions that are forecasted to occur over the next twelve months.", + "That yield curve is then \u201cshocked,\u201d or moved immediately, \u00b1100 basis points in a parallel fashion, or at all points along the yield curve.", + "Two new twelve-month NIR projections are then developed using the same balance sheet and forecasted transactions, but with the new yield curves, and compared to the base scenario.", + "We also perform the calculations using interest rate ramps, which are \u00b1100 basis point changes in interest rates that are assumed to occur gradually over the next twelve-month period, rather than immediately as we do with interest-rate shocks.", + "EVE is based on the change in the present value of all NIR-related principal and interest cash flows for changes in market rates of interest.", + "The present value of existing cash flows with a then-current yield curve serves as the base case.", + "We then apply an immediate parallel shock to that yield curve of \u00b1200 basis points and recalculate the cash flows and related present values.", + "A large shock is used to better capture the embedded option risk in our mortgage-backed securities that results from the borrower\u2019s prepayment opportunity.", + "Key assumptions used in the models described above include the timing of cash flows; the maturity and repricing of balance sheet assets and liabilities, especially option-embedded financial instruments like mortgage-backed securities; changes in market conditions; and interest-rate sensitivities of our customer liabilities with respect to the interest rates paid and the level of balances.", + "These assumptions are inherently uncertain and, as a result, the models cannot precisely predict future NIR or predict the impact of changes in interest rates on NIR and economic value.", + "Actual results could differ from simulated results due to the timing, magnitude and frequency of changes in interest rates and market conditions, changes in spreads and management strategies, among other factors.", + "Projections of potential future streams of NIR are assessed as part of our forecasting process.", + "The following table presents the estimated exposure of NIR for the next twelve months, calculated as of December 31, 2008 and 2007, due to an immediate \u00b1 100 basis point shift in then-current interest rates.", + "Estimated incremental exposures presented below are dependent on management\u2019s assumptions about asset and liability sensitivities under various interest-rate scenarios, such as those previously discussed, and do not reflect any actions management may undertake in order to mitigate some of the adverse effects of interest-rate changes on State Street\u2019s financial performance.", + "NIR-AT-RISK", + "||Estimated Exposure to Net Interest Revenue|\n| (In millions)|2008|2007|\n|Rate change:|||\n|+100 bps shock|$7|$-98|\n|-100 bps shock|-439|7|\n|+100 bps ramp|-29|-44|\n|-100 bps ramp|-166|20|\n", + "The NIR-at-risk exposure to an immediate 100 bp increase in market interest rates changed from negative at December 31, 2007 to slightly positive at December 31, 2008, while the NIR-at-risk exposure to a 100 bp downward shock in rates changed from slightly positive to significantly negative.", + "These changes were the result of two factors.", + "First, the level of on-balance sheet liquid assets was increased during 2008 in response to the" + ], + "question_id": "simplong-test-10", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of hombuilding in the year with the most financial services?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of 3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of \u20ac590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share).", + "The sale proceeds included \u20ac110 million ($144) that was contingent on the outcome of certain retender arrangements.", + "These proceeds were reflected in payables and accrued liabilities on our consolidated balance sheet as of 30 September 2013.", + "Based on the outcome of the retenders, we were contractually required to return proceeds to The Linde Group.", + "In the fourth quarter of 2014, we made a payment to settle this liability and recognized a gain of $1.5.", + "During the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business, which was primarily in the United Kingdom and Ireland, to its estimated net realizable value.", + "In the fourth quarter of 2013, an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) was recorded to update our estimate of the net realizable value.", + "In the first quarter of 2014, we sold the remaining portion of the Homecare business for \u00a1\u00ea6.1 million ($9.8) and recorded a gain on sale of $2.4.", + "We entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction.", + "Refer to Note 16, Commitments and Contingencies, for additional information.", + "The results of discontinued operations are summarized below:", + "||2014|2013|2012|\n|Sales|$8.5|$52.3|$258.0|\n|Income before taxes|$.7|$3.8|$68.1|\n|Income tax provision|\u2014|.2|20.8|\n|Income from operations of discontinued operations|.7|3.6|47.3|\n|Gain (Loss) on sale of business and impairment/write-down, net of tax|3.9|-13.6|120.8|\n|Income (Loss) from Discontinued Operations, net of tax|$4.6|$-10.0|$168.1|\n", + "The assets and liabilities classified as discontinued operations for the Homecare business at 30 September 2013 consisted of $2.5 in trade receivables, net, and $2.4 in payables and accrued liabilities.", + "As of 30 September 2014, no assets or liabilities were classified as discontinued operations.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) The Company measures and recognizes compensation expense at an amount equal to the fair value of share-based payments granted under compensation arrangements.", + "The weighted average fair value of options granted in fiscal 2014 and 2013 was $11.21 per share and $10.92 per share, respectively.", + "The fair values of the options granted were estimated on the date of their grant using the Black-Scholes option pricing model based on the following weighted average assumptions:", + "||Year Ended September 30,|\n||2014|2013|2012|\n|Risk free interest rate|2.01%|1.13%|\u2014|\n|Expected life (in years)|6.48|6.46|\u2014|\n|Expected volatility|48.80%|49.30%|\u2014|\n|Expected dividend yield|0.63%|0.63%|\u2014|\n", + "For fiscal 2014, 2013 and 2012, the Company\u2019s compensation expense related to stock option grants was $25.5 million, $18.6 million and $15.1 million, respectively, and at September 30, 2014, there was $71.7 million of total unrecognized compensation expense related to unvested stock option awards.", + "This expense is expected to be recognized over a weighted average period of 3.75 years.", + "Incentive Bonus Plan The Company's Incentive Bonus Plan provides for the Compensation Committee to award short-term performance bonuses to senior management based upon the level of achievement of certain criteria.", + "For fiscal 2014, 2013 and 2012 the Compensation Committee approved awards whereby certain executive officers could earn performance bonuses based upon percentages of the Company's pre-tax income.", + "Compensation expense related to these plans was $11.8 million, $9.8 million and $4.9 million in fiscal 2014, 2013 and 2012, respectively.", + "Restricted Stock Unit Agreement The Company has a Restricted Stock Unit Agreement (RSU Agreement) for awards to certain executive officers, other key employees and non-management directors pursuant to the Stock Incentive Plan.", + "Under the RSU Agreement, the Compensation Committee may award performance or service (time) based restricted stock units subject to the terms and conditions of the RSU Agreement and the Stock Incentive Plan.", + "In September 2010, the Compensation Committee approved and granted awards of 200,000 performance based restricted stock units (Performance RSUs) that vested at the end of a two-year performance period that ended September 30, 2012.", + "The number of units that vested depended on the Company's relative position as compared to its peers at the end of the two-year period in achieving certain performance criteria and ranged from 0% to 200% of the number of units granted.", + "The performance criteria were total shareholder return, return on investment, SG&A expense containment and gross profit.", + "Each Performance RSU represented the contingent right to receive one share of the Company's common stock if the vesting conditions were satisfied.", + "The Performance RSUs had no dividend or voting rights during the performance period.", + "The fair value of these awards on the date of grant was $11.53 per unit.", + "Based on the achievement of the performance criteria, 325,000 Performance RSUs were earned and vested on September 30, 2012.", + "Compensation expense for these awards was based on the Company's performance against the peer group, the elapsed portion of the performance period and the grant date fair value of the award.", + "Compensation expense for these awards was $2.6 million in fiscal 2012.", + "ITEM 6.", + "SELECTED FINANCIAL DATA The following selected consolidated financial data are derived from our Consolidated Financial Statements.", + "The data should be read in conjunction with Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d Item 1A, \u201cRisk Factors,\u201d Item 8, \u201cFinancial Statements and Supplementary Data,\u201d and all other financial data contained in this annual report on Form 10-K.", + "These historical results are not necessarily indicative of the results to be expected in the future.", + "||Year Ended September 30,|\n||2014|2013|2012|2011|2010|\n|||(In millions, except per share data)||\n|Operating Data:||||||\n|Revenues:||||||\n|Homebuilding|$7,858.5|$6,085.9|$4,236.2|$3,549.6|$4,309.7|\n|Financial Services|166.4|173.4|117.8|87.2|90.5|\n|Inventory and land option charges|85.2|31.1|6.2|45.4|64.7|\n|Gross profit \u2014 Homebuilding|1,589.9|1,232.4|743.8|526.3|682.1|\n|Income (loss) before income taxes:||||||\n|Homebuilding|768.8|592.3|203.7|-7.0|78.1|\n|Financial Services|45.4|65.5|39.2|19.1|21.4|\n|Income tax expense (benefit) (1) (2)|280.7|195.1|-713.4|-59.7|-145.6|\n|Net income|533.5|462.7|956.3|71.8|245.1|\n|Net income per share:||||||\n|Basic|1.57|1.44|3.01|0.23|0.77|\n|Diluted|1.50|1.33|2.77|0.23|0.77|\n|Cash dividends declared per common share|0.1375|0.1875|0.15|0.15|0.15|\n", + "September 30,", + "||September 30,|\n||2014|2013|2012|2011|2010|\n||(In millions)|\n|Balance Sheet Data:||||||\n|Cash and cash equivalents and marketable securities -3|$661.8|$977.4|$1,384.8|$1,068.1|$1,645.0|\n|Inventories|7,700.5|6,197.4|4,165.2|3,449.7|3,449.0|\n|Total assets|10,202.5|8,856.4|7,248.2|5,358.4|5,938.6|\n|Notes payable -4|3,682.8|3,509.0|2,493.1|1,704.6|2,171.8|\n|Total equity|5,119.7|4,061.4|3,594.7|2,623.5|2,622.9|\n", + "(1) The income tax benefit in fiscal 2012 reflects a $753.2 million reduction of our deferred tax asset valuation allowance during the year.", + "The income tax benefit in fiscal 2011 was due to receiving a favorable result from the Internal Revenue Service on a ruling request concerning capitalization of inventory costs, and the income tax benefit in fiscal 2010 resulted from a tax law change regarding net operating loss (NOL) carrybacks.", + "(2) At September 30, 2013 we recorded an out-of-period adjustment which increased both our deferred income taxes and the valuation allowance on our deferred income taxes by $23.9 million.", + "The out-of-period adjustment had no impact on our statement of operations during fiscal 2013.", + "Had deferred income taxes related to the state NOL carryforwards of each of our legal entities been reflected at state specific tax rates as of September 30, 2012, our deferred income taxes would have increased by $31.6 million and the corresponding valuation allowance on our deferred income taxes would have increased by $37.6 million.", + "This would have resulted in a decrease in our income tax benefit of $6.0 million in fiscal 2012, which would have reversed and decreased our income tax expense by $6.0 million in fiscal 2013.", + "The unadjusted amounts from fiscal 2012 were not material to our financial statements for fiscal 2012, and the out-of-period adjustment recorded in fiscal 2013 was not material to our financial statements for fiscal 2013.", + "(3) Cash balances of our captive insurance subsidiary, which are expected to be used to pay future anticipated legal claims, have been correctly presented within cash and cash equivalents rather than other assets as classified in prior years.", + "These balances were $40.9 million, $39.1 million, $37.9 million and $38.0 million at September 30, 2013, 2012, 2011 and 2010, respectively.", + "(4) Notes payable includes both homebuilding notes payable and the amount outstanding on our mortgage repurchase facility" + ], + "question_id": "simplong-test-11", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Other operating revenues in Table 1, what's the increasing rate of Total fair value of RSUs vested in Table 2?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "We have unrealized losses relating to certain available-for-sale investments included in our decommissioning trust fund, recorded as regulatory assets as discussed above.", + "Decommissioning will not occur until the operating license for our nuclear energy center expires.", + "Ameren Missouri submitted a license extension application to the NRC to extend the Callaway energy center\u2019s operating license to 2044.", + "The following table presents the fair value and the gross unrealized losses of the available-for-sale securities held in Ameren Missouri\u2019s nuclear decommissioning trust fund.", + "They are aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013:", + "||Less than 12 Months|12 Months or Greater Fair Value||Total|\n||Fair Value|GrossUnrealizedLosses|Gross Unrealized Losses|Fair Value|GrossUnrealizedLosses|\n|Debt securities|$72|$2|$(a)|$(a)|$72|$2|\n|Equity securities|6(a)||7|4|13|4|\n|Total|$78|$2|$7|$4|$85|$6|\n", + "(a) Amount less than $1 million.", + "NOTE 10 \u2013 CALLAWAY ENERGY CENTER Under the NWPA, the DOE is responsible for disposing of spent nuclear fuel from the Callaway energy center and other commercial nuclear energy centers.", + "Under the NWPA, Ameren and other utilities that own and operate those energy centers are responsible for paying the disposal costs.", + "The NWPA established the fee that these utilities pay the federal government for disposing of the spent nuclear fuel at one mill, or one-tenth of one cent, for each kilowatthour generated by those plants and sold.", + "The NWPA also requires the DOE to review the nuclear waste fee against the cost of the nuclear waste disposal program and to propose to the United States Congress any fee adjustment necessary to offset the costs of the program.", + "As required by the NWPA, Ameren Missouri and other utilities have entered into standard contracts with the federal government.", + "The government, represented by the DOE, is responsible for implementing these provisions of the NWPA.", + "Consistent with the NWPA and its standard contract, Ameren Missouri collects one mill from its electric customers for each kilowatthour of electricity that it generates and sells from its Callaway energy center.", + "Although both the NWPA and the standard contract stated that the federal government would begin to dispose of spent nuclear fuel by 1998, the federal government is not meeting its disposal obligation.", + "Ameren Missouri has sufficient installed capacity at the Callaway energy center to store its spent nuclear fuel generated through 2020, and it has the capability for additional storage capacity for spent nuclear fuel generated through the end of the energy center\u2019s current licensed life.", + "The DOE\u2019s delay in carrying out its obligation to dispose of spent nuclear fuel from the Callaway energy center is not expected to adversely affect the continued operations of the energy center.", + "In January 2009, the federal government announced that a spent nuclear fuel repository at Yucca Mountain, Nevada was unworkable.", + "The federal government took steps to terminate the Yucca Mountain program, while acknowledging its continuing obligation to dispose of utilities\u2019 spent nuclear fuel.", + "In January 2013, the DOE issued its plan for the management and disposal of spent nuclear fuel.", + "The DOE\u2019s plan calls for a pilot interim storage facility to begin operation with an initial focus on accepting spent nuclear fuel from shutdown reactor sites by 2021.", + "By 2025, a larger interim storage facility would be available, co\u0002located with the pilot facility.", + "The plan also proposes to site a permanent geological repository by 2026, to characterize the site and to design and to license the repository by 2042, and to begin operation by 2048.", + "In view of the federal government\u2019s efforts to terminate the Yucca Mountain program, the Nuclear Energy Institute, a number of individual utilities, and the National Association of Regulatory Utility Commissioners sued the DOE in the United States Court of Appeals for the District of Columbia Circuit, seeking the suspension of the one mill nuclear waste fee, alleging that the DOE failed to undertake an appropriate fee adequacy review reflecting the current unsettled state of the nuclear waste program.", + "In a June 2012 decision, the court ruled that DOE\u2019s fee adequacy review was legally inadequate and remanded the matter to the DOE.", + "Although the court ruled it has the power to direct the DOE to suspend the fee, the court decided that it was premature to do so.", + "Instead, the court ordered the DOE to provide within six months a revised assessment of the amount that should be collected.", + "In January 2013, the DOE issued the revised assessment required by the court.", + "The DOE determined that \u201cneither insufficient nor excess revenues are being collected,\u201d and it proposed no adjustment to the one mill nuclear waste fee.", + "In November 2013, the court rejected the DOE\u2019s revised assessment and ordered the DOE to submit a proposal to the United States Congress to reduce the fee to zero.", + "The DOE filed for rehearing, however there is no deadline for the court to act.", + "In January 2014, the DOE, pursuant to the court\u2019s November 2013 order, submitted to Congress a proposal to reduce the fee to zero.", + "As a result of the DOE\u2019s failure to begin to dispose of the utilities\u2019 spent nuclear fuel and fulfill its contractual obligations, Ameren Missouri and other nuclear energy center owners have also sued the DOE to recover costs incurred for ongoing storage of their spent fuel.", + "Ameren Missouri filed a breach of contract lawsuit to recover costs that it incurred through 2009.", + "It sought reimbursement for", + "Transmission Facilities The company\u2019s transmission facilities are located in New York City and Westchester, Orange, Rockland, Putnam and Dutchess counties in New York State.", + "At December 31, 2016, CECONY owned or jointly owned 438 miles of overhead circuits operating at 138, 230, 345 and 500 kV and 749 miles of underground circuits operating at 69, 138 and 345 kV.", + "The company\u2019s 39 transmission substations and 62 area stations are supplied by circuits operated at 69 kV and above.", + "For information about transmission projects to address, among other things, reliability concerns associated with the scheduled closure of the Indian Point Energy Center (which is owned by Entergy Corporation subsidiaries) see \u201cCECONY \u2013 Electric Operations \u2013 Electric Supply\u201d and \u201cCon Edison Transmission,\u201d below.", + "CECONY\u2019s transmission facilities interconnect with those of National Grid, Central Hudson Gas & Electric Corporation, O&R, New York State Electric & Gas, Connecticut Light & Power Company, Long Island Power Authority, NYPA and Public Service Electric and Gas Company.", + "Generating Facilities CECONY\u2019s electric generating facilities consist of plants located in Manhattan whose primary purpose is to produce steam for the company's steam business.", + "The facilities have an aggregate capacity of 726 MW.", + "The company expects to have sufficient amounts of gas and fuel oil available in 2017 for use in these facilities.", + "Electric Sales and Deliveries CECONY delivers electricity to its full-service customers who purchase electricity from the company.", + "The company also delivers electricity to its customers who choose to purchase electricity from other suppliers (retail choice program).", + "In addition, the company delivers electricity to state and municipal customers of NYPA and economic development customers of municipal electric agencies.", + "The company charges all customers in its service area for the delivery of electricity.", + "The company generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the electricity it sells.", + "CECONY\u2019s electric revenues are subject to a revenue decoupling mechanism.", + "As a result, its electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "CECONY\u2019s electric sales and deliveries for the last five years were", + "||Year Ended December 31,|\n||2012|2013|2014|2015|2016|\n|Electric Energy Delivered(millions of kWh)||||||\n|CECONY full service customers|20,622|20,118|19,757|20,206|19,886|\n|Delivery service for retail choice customers|25,990|26,574|26,221|26,662|26,813|\n|Delivery service to NYPA customers and others|10,267|10,226|10,325|10,147|10,046|\n|Delivery service for municipal agencies|322|\u2014|\u2014|\u2014|\u2014|\n|Total Deliveries in Franchise Area|57,201|56,918|56,303|57,015|56,745|\n|Electric Energy Delivered($ in millions)||||||\n|CECONY full service customers|$4,731|$4,799|$5,023|$4,757|$4,404|\n|Delivery service for retail choice customers|2,750|2,683|2,646|2,714|2,768|\n|Delivery service to NYPA customers and others|596|602|625|600|610|\n|Delivery service for municipal agencies|10|\u2014|\u2014|\u2014|\u2014|\n|Other operating revenues|89|47|143|101|324|\n|Total Deliveries in Franchise Area|$8,176|$8,131|$8,437|$8,172|$8,106|\n|Average Revenue per kWh Sold(Cents)(a)||||||\n|Residential|25.6|27.0|28.9|26.3|24.9|\n|Commercial and Industrial|20.0|20.6|22.1|20.6|19.1|\n", + "(a) Includes Municipal Agency sales.", + "For further discussion of the company\u2019s electric operating revenues and its electric results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8.", + "Electric Peak Demand The electric peak demand in CECONY\u2019s service area occurs during the summer air conditioning season.", + "The weather during the summer of 2016 was cooler than design conditions.", + "CECONY\u2019s 2016 service area peak demand was 12,652 MW, which occurred on August 11, 2016.", + "The 2016 peak demand included an estimated 6,114 MW for", + "Additional information regarding our RSUs is shown in the table below.", + "||Twelve Months Ended July 31,|\n|(In millions)|2013|2012|2011|\n|Total fair value of RSUs vested|$224|$258|$150|\n|Share-based compensation for RSUs|$135|$106|$93|\n|Total tax benefit related to RSU share-based compensation expense|$46|$37|$33|\n|Cash tax benefits realized for tax deductions for RSUs|$77|$46|$36|\n", + "At July 31, 2013, there was $293 million of unrecognized compensation cost related to non-vested RSUs that we will amortize to expense in the future.", + "Unrecognized compensation cost will be adjusted for future changes in estimated forfeitures.", + "We expect to recognize that cost over a weighted average vesting period of 2.4 years.13.", + "Benefit Plans Executive Deferred Compensation Plan In December 2004 we initially adopted our 2005 Executive Deferred Compensation Plan, which became effective January 1, 2005.", + "We adopted this plan to meet the requirements for deferred compensation under Section 409A of the Internal Revenue Code.", + "The plan provides that executives who meet minimum compensation requirements are eligible to defer up to 75% of their salaries, bonuses and commissions.", + "We have agreed to credit the participants\u2019 contributions with earnings that reflect the performance of certain independent investment funds.", + "We may also make discretionary employer contributions to participant accounts in certain circumstances.", + "The timing, amounts and vesting schedules of employer contributions are at the sole discretion of the Compensation and Organizational Development Committee of our Board of Directors or its delegate.", + "The benefits under this plan are unsecured.", + "Participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with Intuit for any reason or at a later date to comply with the restrictions of Section 409A.", + "Discretionary company contributions and the related earnings vest completely upon the participant\u2019s disability, death or a change of control of Intuit.", + "Employer contributions to the plan were not significant for any period presented.", + "We had liabilities related to this plan of $64 million at July 31, 2013 and $56 million at July 31, 2012.", + "We have matched the plan liabilities with similar performing assets.", + "These assets are recorded in other long-term assets while liabilities related to obligations are recorded in other current liabilities on our balance sheets.401(k) Plan In the United States, employees who participate in the Intuit Inc. 401(k) Plan may currently contribute up to 30% of pre-tax compensation, subject to Internal Revenue Service limitations and the terms and conditions of the plan.", + "We match a portion of employee contributions, currently 125% up to six percent of salary, subject to Internal Revenue Service limitations.", + "Matching contributions were $44 million for the twelve months ended July 31, 2013; $38 million for the twelve months ended July 31, 2012; and $30 million for the twelve months ended July 31, 2011.14.", + "Litigation On January 13, 2012, two putative class actions were filed against Intuit Inc. in connection with our TurboTax income tax preparation software: Smith v. Intuit Inc. (U. S. District Court, Northern District of California) and Quildon v. Intuit Inc. (California Superior Court, Santa Clara County).", + "The plaintiffs in both cases had asserted that the fees charged for the refund processing service offered within TurboTax are \u201crefund anticipation loans\u201d and the disclosures about those fees do not comply with California and federal laws.", + "The Smith case was brought in federal court on behalf of a proposed nationwide class and subclasses; the Quildon case was brought in state court on behalf of a proposed California class and subclasses.", + "In January", + "benefits as an increase to earnings of $152 million ($0.50 per share) during the year ended December 31, 2016.", + "Additionally, we recognized additional income tax benefits as an increase to operating cash flows of $152 million during the year ended December 31, 2016.", + "The new accounting standard did not impact any periods prior to January 1, 2016, as we applied the changes in the ASU on a prospective basis.", + "In September 2015, the FASB issued ASU No.2015-16, Business Combinations (Topic 805), which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments.", + "Instead, adjustments will be recognized in the period in which the adjustments are determined, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date.", + "We adopted the ASU on January 1, 2016 and are prospectively applying the ASU to business combination adjustments identified after the date of adoption.", + "In November 2015, the FASB issued ASU No.2015-17, Income Taxes (Topic 740), which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities, as well as any related valuation allowance, be classified as noncurrent in our consolidated balance sheets.", + "We applied the provisions of the ASU retrospectively and reclassified approximately $1.6 billion from current to noncurrent assets and approximately $140 million from current to noncurrent liabilities in our consolidated balance sheet as of December 31, 2015.", + "Note 2 \u2013 Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):", + "||2016|2015|2014|\n|Weighted average common shares outstanding for basic computations|299.3|310.3|316.8|\n|Weighted average dilutive effect of equity awards|3.8|4.4|5.6|\n|Weighted average common shares outstanding for dilutedcomputations|303.1|314.7|322.4|\n", + "We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented.", + "Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method.", + "There were no anti-dilutive equity awards for the years ended December 31, 2016, 2015 and 2014.", + "Note 3 \u2013 Acquisitions and Divestitures Acquisitions Acquisition of Sikorsky Aircraft Corporation On November 6, 2015, we completed the acquisition of Sikorsky Aircraft Corporation and certain affiliated companies (collectively \u201cSikorsky\u201d) from United Technologies Corporation (UTC) and certain of UTC\u2019s subsidiaries.", + "The purchase price of the acquisition was $9.0 billion, net of cash acquired.", + "As a result of the acquisition, Sikorsky became a wholly\u0002owned subsidiary of ours.", + "Sikorsky is a global company primarily engaged in the research, design, development, manufacture and support of military and commercial helicopters.", + "Sikorsky\u2019s products include military helicopters such as the Black Hawk, Seahawk, CH-53K, H-92; and commercial helicopters such as the S-76 and S-92.", + "The acquisition enables us to extend our core business into the military and commercial rotary wing markets, allowing us to strengthen our position in the aerospace and defense industry.", + "Further, this acquisition will expand our presence in commercial and international markets.", + "Sikorsky has been aligned under our RMS business segment.", + "To fund the $9.0 billion acquisition price, we utilized $6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility (the 364-day Facility), $2.0 billion of cash on hand and $1.0 billion from the issuance of commercial paper.", + "In the fourth quarter of 2015, we repaid all outstanding borrowings under the 364-day Facility with the proceeds from the issuance of $7.0 billion of fixed interest-rate long-term notes in a public offering (the November 2015 Notes).", + "In the fourth quarter of 2015, we also repaid the $1.0 billion in commercial paper borrowings (see \u201cNote 10 \u2013 Debt\u201d)." + ], + "question_id": "simplong-test-12", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of Fixed maturities, available-for-sale (\"AFS\"), at fair value for Amount and Balance, beginning of period in 2013 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE HARTFORD FINANCIAL SERVICES GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) 9.", + "Goodwill (continued) The annual goodwill assessment for the Mutual Funds and Consumer Markets reporting units and the Group Benefits reporting unit within Corporate was completed as of October 31, 2012, which resulted in no write-downs of goodwill for the year ended December 31, 2012.", + "The reporting units passed the first step of their annual impairment test with a significant margin with the exception of the Group Benefits reporting unit.", + "Group Benefits passed the first step of its annual impairment test with less than a 10% margin.", + "The fair value of the Group Benefits reporting unit is based on discounted cash flows using earnings projections on in force business and future business growth.", + "There could be a positive or negative impact on the result of step one in future periods if assumptions change about the level of economic capital, future business growth, earnings projections or the weighted average cost of capital.", + "Year ended December 31, 2011 During the second quarter of 2011, the Company wrote off the remaining $15 of goodwill associated with the Federal Trust Corporation (\u201cFTC\u201d) reporting unit within Corporate due to the announced divestiture of FTC.", + "The write-off of the FTC reporting unit goodwill was recorded as a loss on disposal within discontinued operations.", + "The Consumer Markets reporting unit completed its annual goodwill assessment on October 1, 2011 and again on October 31, 2011, which resulted in no impairment of goodwill.", + "In both tests, the Consumer Markets reporting unit passed the first step of the annual impairment tests with a significant margin.", + "The annual goodwill assessment for the Property & Casualty Commercial reporting unit that was performed on October 1, 2011 resulted in a write-down of goodwill of $30, pre-tax leaving no remaining goodwill.", + "The results of the discounted cash flow calculations indicated that the fair value of the reporting unit was less than the carrying value; this was due primarily to a decrease in future expected underwriting cash flows.", + "The decrease in future expected underwriting cash flows is driven by an expected reduction in written premium in the short term as the Company maintains pricing discipline in a downward market cycle, while retaining long term capabilities for future opportunities.", + "The Company completed its annual goodwill assessment for Mutual Funds, Individual Life, Retirement Plans and Group Benefits, including the goodwill within Corporate, on January 1, 2011 and October 31, 2011, which resulted in no impairment of goodwill.", + "In both tests, the reporting units passed the first step of their annual impairment tests with a significant margin with the exception of the Individual Life reporting unit at the January 1, 2011 test.", + "The Individual Life reporting unit had a margin of less than 10% between fair value and book value on January 1, 2011.", + "As of the October 31, 2011 impairment test, the Individual Life reporting unit had a fair value in excess of book value of approximately 15%, a modest improvement from January 1, 2011 results due to improving cost of capital.10.", + "Sales Inducements The Company offered enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products.", + "The expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs.", + "Amortization expense associated with expenses previously deferred is recorded over the remaining life of the contract.", + "Consistent with the Unlock, the Company unlocks the amortization of the sales inducement asset.", + "For further information concerning the Unlock, see Note 8 - Deferred Policy Acquisition Costs and Present Value of Future Profits of Notes to Consolidated Financial Statements.", + "Changes in sales inducement activity are as follows:", + "||For the years ended December 31,|\n||2013|2012|2011|\n|Balance, beginning of period|$325|$434|$459|\n|Sales inducements deferred|\u2014|7|20|\n|Amortization \u2014 Unlock charge [1]|-72|-82|-28|\n|Amortization charged to income|-33|-34|-17|\n|Amortization charged to business dispositions [2]|-71|\u2014|\u2014|\n|Balance, end of period|$149|$325|$434|\n", + "[1] Includes Unlock charge of $52 in the first quarter of 2013 related to elimination of future estimated gross profits on the Japan variable annuity block due to the increased costs associated with expanding Japan variable annuity hedging program.", + "[2] Represents accelerated amortization of $22 and $49 in the first quarter of 2013 recognized upon the sale of the Retirement Plans and Individual Life businesses, respectively.", + "For further information, see Note 2 - Business Dispositions of Notes to Consolidated Financial Statements.", + "Table of Contents THE HARTFORD FINANCIAL SERVICES GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) 13.", + "Debt (continued)The Debentures are unsecured, subordinated and junior in right of payment and upon liquidation to all of the Company\u2019s existing and future senior indebtedness.", + "In addition, the Debentures are effectively subordinated to all of the Company\u2019s subsidiaries\u2019 existing and future indebtedness and other liabilities, including obligations to policyholders.", + "The Debentures do not limit the Company\u2019s or the Company\u2019s subsidiaries\u2019 ability to incur additional debt, including debt that ranks senior in right of payment and upon liquidation to the Debentures.", + "The Debentures rank equally in right of payment and upon liquidation with (i) any indebtedness the terms of which provide that such indebtedness ranks equally with the Debentures, including guarantees of such indebtedness, (ii) the Company\u2019s existing 8.125% fixed\u0002to-floating rate junior subordinated debentures due 2068 (the \u201c8.125% Debentures\u201d), (iii) the Company\u2019s Income Capital Obligation Notes due 2067, issuable pursuant to the Junior Subordinated Indenture, dated as of February 12, 2007, between the Company and Wilmington Trust Company (the \u201cICON securities\u201d), (iv) our trade accounts payable, and (v) any of our indebtedness owed to a person who is our subsidiary or employee.", + "Long-Term Debt Maturities Long-term debt maturities (at par values), as of December 31, 2013 are summarized as follows:", + "|2014|$200|\n|2015|456|\n|2016|275|\n|2017|711|\n|2018|320|\n|Thereafter|4,438|\n", + "Shelf Registrations On August 9, 2013, the Company filed with the Securities and Exchange Commission (the \u201cSEC\u201d) an automatic shelf registration statement (Registration No.333-190506) for the potential offering and sale of debt and equity securities.", + "The registration statement allows for the following types of securities to be offered: debt securities, junior subordinated debt securities, preferred stock, common stock, depositary shares, warrants, stock purchase contracts, and stock purchase units.", + "In that The Hartford is a well-known seasoned issuer, as defined in Rule 405 under the Securities Act of 1933, the registration statement went effective immediately upon filing and The Hartford may offer and sell an unlimited amount of securities under the registration statement during the three-year life of the registration statement.", + "Contingent Capital Facility The Company is party to a put option agreement that provides The Hartford with the right to require the Glen Meadow ABC Trust, a Delaware statutory trust, at any time and from time to time, to purchase The Hartford\u2019s junior subordinated notes in a maximum aggregate principal amount not to exceed $500.", + "Under the Put Option Agreement, The Hartford will pay the Glen Meadow ABC Trust premiums on a periodic basis, calculated with respect to the aggregate principal amount of notes that The Hartford had the right to put to the Glen Meadow ABC Trust for such period.", + "The Hartford has agreed to reimburse the Glen Meadow ABC Trust for certain fees and ordinary expenses.", + "The Company holds a variable interest in the Glen Meadow ABC Trust where the Company is not the primary beneficiary.", + "As a result, the Company did not consolidate the Glen Meadow ABC Trust.", + "As of December 31, 2013, The Hartford has not exercised its right to require Glen Meadow ABC Trust to purchase the notes.", + "As a result, the notes remain a source of capital for the HFSG Holding Company.", + "Revolving Credit Facilities The Company has a senior unsecured revolving credit facility (the \"Credit Facility\") that provides for borrowing capacity up to $1.75 billion (which is available in U. S. dollars, and in Euro, Sterling, Canadian dollars and Japanese Yen) through January 6, 2016.", + "As of December 31, 2013, there were no borrowings outstanding under the Credit Facility.", + "Of the total availability under the Credit Facility, up to $250 is available to support letters of credit issued on behalf of the Company or subsidiaries of the Company.", + "Under the Credit Facility, the Company must maintain a minimum level of consolidated net worth of $14.9 billion.", + "The definition of consolidated net worth under the terms of the Credit Facility, excludes AOCI and includes the Company's outstanding junior subordinated debentures and, if any, perpetual preferred securities, net of discount.", + "In addition, the Company\u2019s maximum ratio of consolidated total debt to consolidated total capitalization is limited to 35%, and the ratio of consolidated total debt of subsidiaries to consolidated total capitalization is limited to 10%.", + "As of December 31, 2013, the Company was in compliance with all financial covenants under the Credit Facility", + "Table of Contents THE HARTFORD FINANCIAL SERVICES GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) 19.", + "Stock Compensation Plans (continued) Restricted Unit awards In 2010 and 2009, The Hartford issued restricted units as part of The Hartford\u2019s 2005 Stock Plan.", + "Restricted stock unit awards under the plan have historically been settled in shares, but under this award will be settled in cash and are thus referred to as \u201cRestricted Units\u201d.", + "The economic value recipients will ultimately realize will be identical to the value that would have been realized if the awards had been settled in shares, i. e. , upon settlement, recipients will receive cash equal to The Hartford\u2019s share price multiplied by the number of restricted units awarded.", + "Because Restricted Units will be settled in cash, the awards are remeasured at the end of each reporting period until settlement.", + "Awards granted in 2009 vested after a three year period.", + "Awards granted in 2010 include both graded and cliff vesting restricted units which vest over a three year period.", + "The graded vesting attribution method is used to recognize the expense of the award over the requisite service period.", + "For example, the graded vesting attribution method views one three-year grant with annual graded vesting as three separate sub-grants, each representing one third of the total number of awards granted.", + "The first sub-grant vests over one year, the second sub-grant vests over two years and the third sub-grant vests over three years.", + "There were no restricted units awarded for 2013 or 2012.", + "As of December 31, 2013 and 2012, 27 thousand and 832 thousand restricted units were outstanding, respectively.", + "Deferred Stock Unit Plan Effective July 31, 2009, the Compensation and Management Development Committee of the Board authorized The Hartford Deferred Stock Unit Plan (\u201cDeferred Stock Unit Plan\u201d), and, on October 22, 2009, it was amended.", + "The Deferred Stock Unit Plan provides for contractual rights to receive cash payments based on the value of a specified number of shares of stock.", + "The Deferred Stock Unit Plan provides for two award types, Deferred Units and Restricted Units.", + "Deferred Units are earned ratably over a year, based on the number of regular pay periods occurring during such year.", + "Deferred Units are credited to the participant's account on a quarterly basis based on the market price of the Company\u2019s common stock on the date of grant and are fully vested at all times.", + "Deferred Units credited to employees prior to January 1, 2010 (other than senior executive officers hired on or after October 1, 2009) are not paid until after two years from their grant date.", + "Deferred Units credited on or after January 1, 2010 (and any credited to senior executive officers hired on or after October 1, 2009) are paid in three equal installments after the first, second and third anniversaries of their grant date.", + "Restricted Units are intended to be incentive compensation and, unlike Deferred Units, vest over time, generally three years, and are subject to forfeiture.", + "The Deferred Stock Unit Plan is structured consistent with the limitations and restrictions on employee compensation arrangements imposed by the Emergency Economic Stabilization Act of 2008 and the TARP Standards for Compensation and Corporate Governance Interim Final Rule issued by the U. S. Department of Treasury on June 10, 2009.", + "There were no deferred stock units awarded in 2013 or 2012.", + "A summary of the status of the Company\u2019s non-vested awards under the Deferred Stock Unit Plan as of December 31, 2013, is presented below:", + "|Non-vested Units|Restricted Units (in thousands)|Weighted-Average Grant-Date Fair Value|\n|Non-vested at beginning of year|309|25.08|\n|Granted|\u2014|\u2014|\n|Vested|-306|25.04|\n|Forfeited|-3|28.99|\n|Non-vested at end of year|\u2014|$\u2014|\n", + "Subsidiary Stock Plan In 2013 The Hartford established a subsidiary stock-based compensation plan similar to The Hartford 2010 Incentive Stock Plan except that it awards non-public subsidiary stock as compensation.", + "The Company recognized stock-based compensation plans expense of $1 in the year ended December 31, 2013 for the subsidiary stock plan.", + "Upon employee vesting of subsidiary stock, the Company will recognize a noncontrolling equity interest.", + "Employees will be restricted from selling vested subsidiary stock to other than the Company and the Company will have discretion on the amount of stock to repurchase.", + "Therefore the subsidiary stock will be classified as equity because it is not mandatorily redeemable.", + "Investment Results Composition of Invested Assets", + "||December 31, 2013|December 31, 2012|\n||Amount|Percent|Amount|Percent|\n|Fixed maturities, available-for-sale (\"AFS\"), at fair value|$62,357|79.2%|$85,922|81.6%|\n|Fixed maturities, at fair value using the fair value option (\"FVO\")|844|1.1%|1,087|1.0%|\n|Equity securities, AFS, at fair value|868|1.1%|890|0.8%|\n|Mortgage loans|5,598|7.1%|6,711|6.4%|\n|Policy loans, at outstanding balance|1,420|1.8%|1,997|1.9%|\n|Limited partnerships and other alternative investments|3,040|3.9%|3,015|2.9%|\n|Other investments [1]|521|0.7%|1,114|1.1%|\n|Short-term investments|4,008|5.1%|4,581|4.3%|\n|Total investments excluding equity securities, trading|78,656|100%|105,317|100%|\n|Equity securities, trading, at fair value [2]|19,745||28,933||\n|Total investments|$98,401||$134,250||\n", + "[1] Primarily relates to derivative instruments.", + "[2] As of December 31, 2013 and 2012, approximately $19.7 billion and $27.1 billion, respectively, of equity securities, trading, support Japan variable annuities.", + "Those equity securities, trading, were invested in mutual funds, which, in turn, invested in the following asset classes as of December 31, 2013 and 2012, respectively: Japan equity 22% and 20%, Japan fixed income (primarily government securities) 15% and 15%, global equity 22% and 21%, global government bonds 40% and 43%, and cash and other 1% and 1%.", + "Total investments decreased since December 31, 2012, principally due to the sale of the Retirement Plans and Individual Life businesses resulting in the transfer of fixed maturities, AFS, fixed maturities, FVO, equity securities, AFS, mortgage loans, and policy loans with a total carrying value of $17.3 billion in January 2013.", + "In addition, the sale of the U. K. variable annuity business, HLIL, in the fourth quarter of 2013 resulted in a decline in the carrying value of fixed maturities, AFS and equity securities, trading of $469 and $1.7 billion, respectively.", + "Refer to Note 2 - Business Dispositions of Notes to Consolidated Financial Statements for further discussion of these transactions.", + "The remaining decrease in total invested assets is primarily due to a decrease in equity securities, trading, fixed maturities, AFS, other investments, and short-term investments.", + "The decline in equity securities, trading was primarily due to variable annuity policy surrenders, the depreciation of the Japanese Yen as compared to the U. S. dollar, partially offset by equity market gains.", + "The decrease in fixed maturities, AFS was due to a decline in valuations due to an increase in interest rates, a reduction in assets levels in Talcott Resolution associated with dollar rolls and repurchase agreements, and capital management actions, including debt repayments and share repurchases.", + "The decline in other investments was largely due to a decline in derivative market value primarily resulting from an increase in interest rates and the depreciation of the Japanese yen in comparison to the euro and U.", + "S dollar.", + "The decrease in short\u0002term investments is primarily attributable to a decline in derivative collateral held due to decreases in derivative market values." + ], + "question_id": "simplong-test-13", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of the Weighted average of fair value for options granted in the years where Expected life (in years) is greater than 4?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Japanese Yen (approximately $63 million and $188 million, respectively, based on applicable exchange rates at that time).", + "The cash paid of approximately $63 million during the quarter ended March 31, 2010 as a result of the purchase of Sumitomo 3M shares from SEI is classified as \u201cOther financing activities\u201d in the consolidated statement of cash flows.", + "The remainder of the purchase financed by the note payable to SEI is considered non-cash financing activity in the first quarter of 2010.", + "As discussed in Note 2, during the second quarter of 2010, 3M recorded a financed liability of 1.7 billion Japanese yen (approximately $18 million based on applicable exchange rates at that time) related to the A-One acquisition, which is also considered a non-cash financing activity.", + "Off-Balance Sheet Arrangements and Contractual Obligations: As of December 31, 2012, the Company has not utilized special purpose entities to facilitate off-balance sheet financing arrangements.", + "Refer to the section entitled \u201cWarranties/Guarantees\u201d in Note 13 for discussion of accrued product warranty liabilities and guarantees.", + "In addition to guarantees, 3M, in the normal course of business, periodically enters into agreements that require the Company to indemnify either major customers or suppliers for specific risks, such as claims for injury or property damage arising out of the use of 3M products or the negligence of 3M personnel, or claims alleging that 3M products infringe third\u0002party patents or other intellectual property.", + "While 3M\u2019s maximum exposure under these indemnification provisions cannot be estimated, these indemnifications are not expected to have a material impact on the Company\u2019s consolidated results of operations or financial condition.", + "A summary of the Company\u2019s significant contractual obligations as of December 31, 2012, follows: Contractual Obligations", + "|||Payments due by year|\n|(Millions)|Total|2013|2014|2015|2016|2017|After 2017|\n|Long-term debt, including current portion (Note 9)|$5,902|$986|$1,481|$107|$994|$648|$1,686|\n|Interest on long-term debt|1,721|189|152|97|96|79|1,108|\n|Operating leases (Note 13)|735|194|158|119|77|68|119|\n|Capital leases (Note 13)|96|22|21|8|7|4|34|\n|Unconditional purchase obligations and other|1,489|1,060|209|111|48|33|28|\n|Total contractual cash obligations|$9,943|$2,451|$2,021|$442|$1,222|$832|$2,975|\n", + "Long-term debt payments due in 2013 and 2014 include floating rate notes totaling $132 million (classified as current portion of long-term debt) and $97 million, respectively, as a result of put provisions associated with these debt instruments.", + "Unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the Company.", + "Included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts, capital commitments, service agreements and utilities.", + "These estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year.", + "Many of these commitments relate to take or pay contracts, in which 3M guarantees payment to ensure availability of products or services that are sold to customers.", + "The Company expects to receive consideration (products or services) for these unconditional purchase obligations.", + "Contractual capital commitments are included in the preceding table, but these commitments represent a small part of the Company\u2019s expected capital spending in 2013 and beyond.", + "The purchase obligation amounts do not represent the entire anticipated purchases in the future, but represent only those items for which the Company is contractually obligated.", + "The majority of 3M\u2019s products and services are purchased as needed, with no unconditional commitment.", + "For this reason, these amounts will not provide a reliable indicator of the Company\u2019s expected future cash outflows on a stand-alone basis.", + "Other obligations, included in the preceding table within the caption entitled \u201cUnconditional purchase obligations and other,\u201d include the current portion of the liability for uncertain tax positions under ASC 740, which is expected to be paid out in cash in the next 12 months.", + "The Company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time; therefore, the long-term portion of the net tax liability of $170 million is excluded from the preceding table.", + "Refer to Note 7 for further details.", + "Compensation expense was determined from the estimates of fair values of stock options granted using the Black-Scholes option-pricing model.", + "The following summarizes the weighted average of fair value and the significant assumptions used in applying the Black-Scholes model for options granted:", + "|| 2006 | 2005 | 2004 |\n|Weighted average of fair value for options granted|$15.02|15.33|11.85|\n|Weighted average assumptions used:||||\n|Expected dividend yield|2.0%|2.0%|2.0%|\n|Expected volatility|18.0%|25.0%|26.8%|\n|Risk-free interest rate|4.95%|3.95%|3.11%|\n|Expected life (in years)|4.1|4.1|3.8|\n", + "The methodology used to estimate the fair values of stock options is consistent with the estimates used for the pro forma presentation in years prior to the adoption of SFAS 123R.", + "The assumptions for expected dividend yield, expected volatility and expected life reflect management\u2019s judgment and include consideration of historical experience.", + "Expected volatility is based on historical volatility.", + "The risk-free interest rate is based on the U. S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.", + "The following summarizes our stock option activity for the three years ended December 31, 2006:", + "|| Number of shares | Weighted average exercise price |\n|Balance at December 31, 2003|7,570,645|$49.51|\n|Granted|2,279,621|57.28|\n|Exercised|-1,812,594|48.32|\n|Expired|-170,662|52.54|\n|Forfeited|-233,235|51.59|\n|Balance at December 31, 2004|7,633,775|51.98|\n|Granted|912,905|71.37|\n|Assumed in acquisition|1,559,693|47.44|\n|Exercised|-1,872,753|50.00|\n|Expired|-519,521|66.53|\n|Forfeited|-216,533|55.46|\n|Balance at December 31, 2005|7,497,566|52.79|\n|Granted|979,274|81.14|\n|Exercised|-1,631,012|49.43|\n|Expired|-52,398|50.00|\n|Forfeited|-106,641|62.89|\n|Balance at December 31, 2006|6,686,789|57.62|\n|Outstanding options exercisable as of:|||\n|December 31, 2006|4,409,971|$50.73|\n|December 31, 2005|4,663,707|49.04|\n|December 31, 2004|3,711,405|51.02|\n", + "We issue new authorized shares for the exercise of stock options.", + "During 2006, the total intrinsic value of options exercised was approximately $50.8 million.", + "Additional selected information on stock options at December 31, 2006 follows:", + "|| Outstanding options | Exercisable options |\n| Exercise price range| Number of shares | Weighted average exercise price | Weighted average remaining contractual life (years) | Number of shares | Weighted average exercise price |\n|$ 0.32 to $ 19.99|76,164|$11.63|0.9-1|76,164|$11.63|\n|$ 20.00 to $ 39.99|190,986|27.44|2.2|190,986|27.44|\n|$ 40.00 to $ 44.99|1,290,243|42.23|2.6|1,290,243|42.23|\n|$ 45.00 to $ 49.99|356,590|48.30|4.6|356,590|48.30|\n|$ 50.00 to $ 54.99|1,011,382|53.72|2.4|1,006,735|53.71|\n|$ 55.00 to $ 59.99|1,550,516|56.92|4.5|917,585|57.03|\n|$ 60.00 to $ 64.99|172,390|61.51|2.7|102,522|61.72|\n|$ 65.00 to $ 69.99|198,253|67.30|6.4|146,699|67.42|\n|$ 70.00 to $ 74.99|759,814|70.86|5.5|255,919|70.91|\n|$ 75.00 to $ 79.99|116,126|75.92|6.0|57,528|75.84|\n|$ 80.00 to $ 82.92|964,325|81.14|6.4|9,000|80.65|\n||6,686,789|57.62|4.2-1|4,409,971|50.73|\n", + "1 The weighted average remaining contractual life excludes 35,023 stock options that do not have a fixed expiration date.", + "They expire between the date of termination and one year from the date of termination, depending upon certain circumstances.", + "For outstanding options at December 31, 2006, the aggregate intrinsic value was $166.0 million.", + "For exercisable options at December 31, 2006, the aggregate intrinsic value was $139.9 million and the weighted average remaining contractual life was 3.4 years, excluding the stock options previously noted without a fixed expiration date.", + "The previous tables do not include options for employees to purchase common stock of our subsidiaries, TCBO and NetDeposit.", + "At December 31, 2006 for TCBO, there were options to purchase 87,000 shares at an exercise price of $20.00.", + "At December 31, 2006, there were 1,038,000 issued and outstanding shares of TCBO common stock.", + "For NetDeposit, there were options to purchase 11,739,920 shares at exercise prices from $0.42 to $1.00.", + "At December 31, 2006, there were 100,536,568 issued and outstanding shares of NetDeposit common stock.", + "TCBO and NetDeposit options are included in the previous pro forma disclosure.", + "Net income increased 6.0% to $172.6 million in 2006 compared with $162.9 million for 2005, and $145.8 million for 2004.", + "Loan growth, interest rate risk management, credit management, customer profitability management and expense control were the primary contributors to the positive results of operations for 2006 while the loss of deposits and higher cost of funding negatively impacted earnings.", + "Net interest income for 2006 increased $18.0 million or 4.0% to $469.4 million compared to $451.4 million for 2005 and $410.2 million for 2004.", + "CB&T\u2019s net interest margin was 4.81%, 4.91% and 4.78% for 2006, 2005 and 2004, respectively.", + "The bank strives to maintain a slightly asset-sensitive position with regard to interest rate risk management, meaning that when market interest rates rise, the net interest margin increases.", + "Net interest income in 2006 increased although the margin narrowed due to the flattening yield curve and the competitive pressures of increases in interest rates on deposits and increased reliance on higher cost nondeposit funding.", + "The efficiency ratio has improved in each of the past three years: 44.4% for 2006, 46.3% for 2005, and 47.9% for 2004.", + "CB&T continues to focus on managing operating efficiencies and costs in relation to revenue.", + "Total revenue was $550.1 million, an increase of 4.5% over $526.4 million in 2005.", + "Noninterest expense grew to $244.6 million, an increase of 0.3% over $243.9 million in 2005.", + "This modest expense growth was primarily due to strong controls over staffing levels and other variable expenses.", + "Full-time equivalent employees declined to 1,659 in December 2006 from 1,673 in December 2005.", + "Schedule 15 CALIFORNIA BANK & TRUST", + "|| 2006 | 2005 | 2004 |\n| PERFORMANCE RATIOS||||\n|Return on average assets|1.59%|1.59%|1.51%|\n|Return on average common equity|15.40%|15.53%|14.52%|\n|Efficiency ratio|44.42%|46.29%|47.93%|\n|Net interest margin|4.81%|4.91%|4.78%|\n| OTHER INFORMATION||||\n|Full-time equivalent employees|1,659|1,673|1,722|\n|Domestic offices:||||\n|Traditional branches|91|91|91|\n|ATMs|103|105|107|\n", + "Net loans and leases grew $421 million or 5.5% in 2006 compared to 2005.", + "Commercial, small business, real estate construction, and commercial real estate loans grew modestly in 2006 compared to 2005, while consumer loans declined and residential real estate loans remained flat.", + "CB&T does not expect overall loan growth in 2007 to be much different than 2006 given the tenuous business climate particularly in its primary Southern California commercial and residential real estate construction and development markets.", + "Total deposits declined $486 million or 5.5% in 2006 compared to 2005.", + "The ratio of noninterest-bearing deposits to total deposits was 33.6% and 33.2% for 2006 and 2005, respectively.", + "Reflecting general banking conditions in California, CB&T was challenged in its deposit growth in 2006 and expects to continue to be challenged in 2007.", + "Nonperforming assets were $27.1 million at December 31, 2006 compared to $20.0 million one year ago.", + "Nonperforming assets to net loans and other real estate owned at December 31, 2006 was 0.34% compared to 0.26% at December 31, 2005.", + "Net loan and lease charge-offs were $10.9 million for 2006 compared with $4.9 million for 2005.", + "CB&T\u2019s loan loss provision was $15.0 million for 2006 compared to $9.9 million for 2005.", + "The ratio of the allowance for loan losses to nonperforming loans was 360.3% at year-end 2006 compared to 512.1% at year-end 2005.", + "The ratio of the allowance for loan losses to net loans and leases was 1.17% and 1.18% at December 31, 2006 and 2005, respectively.", + "Amegy Corporation Amegy is headquartered in Houston, Texas and operates Amegy Bank, the tenth largest full-service commercial bank in Texas measured by deposits in the state.", + "Amegy operates 64 full-service traditional branches and 8 banking centers in grocery stores in the Houston metropolitan area, and five traditional branches and one loan production office in the Dallas metropolitan area.", + "During the first quarter of 2007, Amegy continued its expansion into the attractive markets in Texas by opening its first location in San Antonio, a loan production office to serve the Central Texas market.", + "Amegy also operates a broker-dealer (Amegy Investments, Inc), a trust and private bank group, and a mortgage bank (Amegy Mortgage Company).", + "The Texas economy is the eleventh largest in the world with two-thirds of all state economic activity occurring in", + "We monitor this risk through the use of two complementary measurement methods: duration of equity and income simulation.", + "In the duration of equity method, we measure the expected changes in the market values of equity in response to changes in interest rates.", + "In the income simulation method, we analyze the expected changes in income in response to changes in interest rates.", + "Duration of equity is derived by first calculating the dollar duration of all assets, liabilities and derivative instruments.", + "Dollar duration is determined by calculating the market value of each instrument assuming interest rates sustain immediate and parallel movements up 1% and down 1%.", + "The average of these two changes in market value is the dollar duration.", + "Subtracting the dollar duration of liabilities from the dollar duration of assets and adding the net dollar duration of derivative instruments results in the dollar duration of equity.", + "Duration of equity is computed by dividing the dollar duration of equity by the market value of equity.", + "Income simulation is an estimate of the net interest income that would be recognized under different rate environments.", + "Net interest income is measured under several parallel and nonparallel interest rate environments and deposit repricing assumptions, taking into account an estimate of the possible exercise of options within the portfolio.", + "Both of these measurement methods require that we assess a number of variables and make various assumptions in managing the Company\u2019s exposure to changes in interest rates.", + "The assessments address loan and security prepayments, early deposit withdrawals, and other embedded options and noncontrollable events.", + "As a result of uncertainty about the maturity and repricing characteristics of both deposits and loans, the Company estimates ranges of duration and income simulation under a variety of assumptions and scenarios.", + "The Company\u2019s interest rate risk position changes as the interest rate environment changes and is managed actively to try to maintain a consistent slightly asset-sensitive position.", + "However, positions at the end of any period may not be reflective of the Company\u2019s position in any subsequent period.", + "We should note that duration of equity is highly sensitive to the assumptions used for deposits that do not have specific maturities, such as checking, savings, and money market accounts and also to prepayment assumptions used for loans with prepayment options.", + "Given the uncertainty of these durations, we view the duration of equity as falling within a range of possibilities.", + "For income simulation, Company policy requires that interest sensitive income from a static balance sheet is expected to decline by no more than 10% during one year if rates were to immediately rise or fall in parallel by 200 basis points.", + "As of the dates indicated, Schedule 41 shows the Company\u2019s estimated range of duration of equity, duration of equity simulation, and percentage change in interest sensitive income in the first year after the rate change if interest rates were to sustain an immediate parallel change of 200 basis points; the \u201clow\u201d and \u201chigh\u201d results differ based on the assumed speed of repricing of administered-rate deposits (money market, interest-on-checking, and savings): Schedule 41 DURATION OF EQUITY AND INTEREST SENSITIVE INCOME" + ], + "question_id": "simplong-test-14", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Fuel in the year with the most Electric?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements\u2014(Continued) Note 12.", + "Stock Award Plans and Stock Based Compensation (Continued) Restricted Stock The following table summarizes restricted stock activity for the fiscal year ended March 31, 2009:", + "|| March 31, 2009|\n||Number of Shares (in thousands)| Grant Date Fair Value|\n|Restricted stock awards at March 31, 2008|54|$11.52|\n|Granted|666|16.75|\n|Vested|-167|14.65|\n|Forfeited|-73|17.53|\n|Restricted stock awards at March 31, 2009|480|$16.77|\n", + "The remaining unrecognized compensation expense for restricted stock awards at March 31, 2009 was $4.6 million.", + "The weighted average remaining contractual life for restricted stock awards at March 31, 2009 and 2008 was 1.8 and 2.4 years, respectively.", + "In May 2008, 260,001 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, of which 130,002 of these shares vest upon achievement of a prescribed performance milestone.", + "In September 2008, the Company met the prescribed performance milestone, and all of these performance-based shares vested.", + "In connection with the vesting of these shares, these employees paid withholding taxes due by returning 39,935 shares valued at $0.7 million.", + "These shares have been recorded as treasury stock as of March 31, 2009.", + "The remaining 129,999 of the restricted shares award vest ratably over four years from the grant date.", + "The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period, based on the probability of achieving the performance milestones.", + "In August 2008, 406,250 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, all of which could vest upon achievement of certain prescribed performance milestones.", + "In March 2009, the Company met a prescribed performance milestone, and a portion of these performance-based shares vested.", + "The remaining stock compensation expense for the restricted stock awards is being recognized on a straight-line basis over the vesting period through March 31, 2011 based on the probability of achieving the performance milestones.", + "The cumulative effects of changes in the probability of achieving the milestones will be recorded in the period in which the changes occur.", + "During the year ended March 31, 2008, 60,000 shares of restricted stock were issued to certain executive officers of the Company that vest on the third anniversary of the date of grant.", + "The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period.", + "Employee Stock Purchase Plan In March 1988, the Company adopted the 1988 Employee Stock Purchase Plan (\u201cthe Purchase Plan\u201d or \u201cESPP\u201d), as amended.", + "Under the Purchase Plan, eligible employees, including officers and directors, who have completed three months of employment with the Company or its subsidiaries who elect to participate in the Purchase plan instruct the Company to withhold a specified amount from each payroll period during a six-month payment period (the periods April 1\u2014September 30 and October 1\u2014March 31).", + "On the last business day of each payment period, the amount withheld is used to purchase common stock at an exercise price equal to 85% of the lower of its market price on the first business day or the last business day of the payment period.", + "Up to 500,000 shares of common stock may be issued under the Purchase Plan, of which 163,245 shares are available for future issuance as of March 31, 2009.", + "During the years ended March 31, 2009, 2008 and 2007, 45,823, 23,930, and 27,095 shares of common stock, respectively, were sold pursuant to the Purchase Plan.", + "PAR T I I Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.", + "Market Information Our common stock is traded on the New York Stock Exchange under the ticker symbol BBY.", + "The table below sets forth the high and low sales prices of our common stock as reported on the New York Stock Exchange \u2014 Composite Index during the periods indicated.", + "The stock prices below have been revised to reflect a three-for-two stock split effected on August 3, 2005.", + "| | Sales Price|\n| | High| Low|\n|Fiscal 2006|||\n|First Quarter|$36.99|$31.93|\n|Second Quarter|53.17|36.20|\n|Third Quarter|50.88|40.40|\n|Fourth Quarter|56.00|42.75|\n|Fiscal 2005|||\n|First Quarter|$37.50|$30.10|\n|Second Quarter|36.42|29.25|\n|Third Quarter|41.47|30.57|\n|Fourth Quarter|40.48|33.91|\n", + "Holders As of April 24, 2006, there were 2,632 holders of record of Best Buy common stock.", + "Dividends In fiscal 2004, our Board initiated the payment of a regular quarterly cash dividend, then $0.07 per common share per quarter.", + "A quarterly cash dividend has been paid in each subsequent quarter.", + "Effective with the quarterly cash dividend paid in the third quarter of fiscal 2005, we increased our quarterly cash dividend per common share by 10 percent.", + "Effective with the quarterly cash dividend paid in the third quarter of fiscal 2006, we increased our quarterly cash dividend per common share by 9 percent to $0.08 per common share per quarter.", + "The payment of cash dividends is subject to customary legal and contractual restrictions.", + "Future dividend payments will depend on the Company\u2019s earnings, capital requirements, financial condition and other factors considered relevant by our Board.", + "Purchases of Equity Securities by the Issuer and Affiliated Purchasers In April 2005, our Board authorized a $1.5 billion share repurchase program.", + "The program, which became effective on April 27, 2005, terminated and replaced a $500 million share repurchase program authorized by our Board in June 2004.", + "Effective on June 24, 2004, our Board authorized the $500 million share repurchase program, which terminated and replaced a $400 million share repurchase program authorized by our Board in fiscal 2000.", + "During the fourth quarter of fiscal 2006, we purchased and retired 7.1 million shares at a cost of $338 million.", + "Since the inception of the $1.5 billion share repurchase program in fiscal 2006, we purchased and retired 16.5 million shares at a cost of $711 million.", + "We consider several factors in determining when to make share repurchases including, among other things, our cash needs and the market price of the stock.", + "At the end of fiscal 2006, $790 million of the $1.5 billion originally authorized by our Board was available for future share repurchases.", + "Cash provided by future operating activities, available cash and cash equivalents, as well as short-term investments, are the expected sources of funding for the share repurchase program.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Continued Con Edison\u2019s principal business segments are CECONY\u2019s regulated utility activities, O&R\u2019s regulated utility activities and Con Edison\u2019s competitive energy businesses.", + "CECONY\u2019s principal business segments are its regulated electric, gas and steam utility activities.", + "A discussion of the results of operations by principal business segment for the years ended December 31, 2014, 2013 and 2012 follows.", + "For additional business segment financial information, see Note N to the financial statements in Item 8.", + "Year Ended December 31, 2014 Compared with Year Ended December 31, 2013 The Companies\u2019 results of operations in 2014 compared with 2013 were:", + "||CECONY|O&R|Competitive Energy Businesses|Other(a)|Con Edison(b)|\n| (Millions of Dollars)|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|\n|Operating revenues|$356|3.4%|$59|7.1%|$148|13.5%|$2|40.0%|$565|4.6%|\n|Purchased power|70|3.5|21|9.7|227|26.4|-|-|318|10.3|\n|Fuel|-35|-10.9|-|-|-|-|-|-|-35|-10.9|\n|Gas purchased for resale|77|14.5|12|15.8|88|Large|-1|Large|176|27.7|\n|Other operations and maintenance|138|5.0|16|5.3|3|2.9|-|-|157|5.0|\n|Depreciation and amortization|45|4.8|5|8.9|-4|-17.4|1|Large|47|4.6|\n|Taxes, other than income taxes|-18|-1.0|-2|-3.2|2|11.8|-|-|-18|-0.9|\n|Gain on sale of solar electric production projects|-|-|-|-|45|-|-|-|45|-|\n|Operating income (loss)|79|3.8|7|5.8|-123|Large|2|Large|-35|-1.6|\n|Other income less deductions|10|Large|2|Large|20|Large|-3|Large|29|Large|\n|Net interest expense|16|3.1|-2|-5.4|-143|Large|1|3.8|-128|-17.8|\n|Income before income tax expense|73|4.7|11|13.1|40|62.5|-2|-9.1|122|7.9|\n|Income tax expense|35|6.7|16|84.2|34|82.9|7|31.8|92|19.3|\n|Net income for common stock|$38|3.7%|$-5|-7.7%|$6|26.1%|$-9|Large|$30|2.8%|\n", + "(a) Includes parent company and consolidation adjustments.", + "(b) Represents the consolidated financial results of Con Edison and its businesses.", + "|| Twelve Months Ended December 31, 2014|| Twelve Months Ended December 31, 2013|||\n| (Millions of Dollars)| Electric| Gas| Steam| 2014 Total| Electric| Gas| Steam| 2013 Total|2014-2013 Variation|\n|Operating revenues|$8,437|$1,721|$628|$10,786|$8,131|$1,616|$683|$10,430|$356|\n|Purchased power|2,036|-|55|2,091|1,974|-|47|2,021|70|\n|Fuel|180|-|105|285|174|-|146|320|-35|\n|Gas purchased for resale|-|609|-|609|-|532|-|532|77|\n|Other operations and maintenance|2,270|418|185|2,873|2,180|351|204|2,735|138|\n|Depreciation and amortization|781|132|78|991|749|130|67|946|45|\n|Taxes, other than income taxes|1,458|248|92|1,798|1,459|241|116|1,816|-18|\n| Operating income|$1,712|$314|$113|$2,139|$1,595|$362|$103|$2,060|$79|\n", + "reasonably possible that such matters will be resolved in the next twelve months, but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position.", + "Foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years.", + "Years still open to examination by foreign tax authorities in major jurisdictions include Australia (2003 onward), Canada (2002 onward), France (2006 onward), Germany (2005 onward), Italy (2005 onward), Japan (2002 onward), Puerto Rico (2005 onward), Singapore (2003 onward), Switzerland (2006 onward) and the United Kingdom (2006 onward).", + "Our tax returns are currently under examination in various foreign jurisdictions.", + "The most significant foreign tax jurisdiction under examination is the United Kingdom.", + "It is reasonably possible that such audits will be resolved in the next twelve months, but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position.13.", + "CAPITAL STOCK AND EARNINGS PER SHARE We are authorized to issue 250 million shares of preferred stock, none of which were issued or outstanding as of December 31, 2008.", + "The numerator for both basic and diluted earnings per share is net earnings available to common stockholders.", + "The denominator for basic earnings per share is the weighted average number of common shares outstanding during the period.", + "The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards.", + "The following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending December 31 (in millions):", + "||2008|2007|2006|\n|Weighted average shares outstanding for basic net earnings per share|227.3|235.5|243.0|\n|Effect of dilutive stock options and other equity awards|1.0|2.0|2.4|\n|Weighted average shares outstanding for diluted net earnings per share|228.3|237.5|245.4|\n", + "For the year ended December 31, 2008, an average of 11.2 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock.", + "For the years ended December 31, 2007 and 2006, an average of 3.1 million and 7.6 million options, respectively, were not included.", + "During 2008, we repurchased approximately 10.8 million shares of our common stock at an average price of $68.72 per share for a total cash outlay of $737.0 million, including commissions.", + "In April 2008, we announced that our Board of Directors authorized a $1.25 billion share repurchase program which expires December 31, 2009.", + "Approximately $1.13 billion remains authorized under this plan.14.", + "SEGMENT DATA We design, develop, manufacture and market orthopaedic and dental reconstructive implants, spinal implants, trauma products and related surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation.", + "We also provide other healthcare-related services.", + "Revenue related to these services currently represents less than 1 percent of our total net sales.", + "We manage operations through three major geographic segments \u2013 the Americas, which is comprised principally of the United States and includes other North, Central and South American markets; Europe, which is comprised principally of Europe and includes the Middle East and Africa; and Asia Pacific, which is comprised primarily of Japan and includes other Asian and Pacific markets.", + "This structure is the basis for our reportable segment information discussed below.", + "Management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses, share-based compensation expense, settlement, certain claims, acquisition, integration and other expenses, inventory step-up, in-process research and development write-offs and intangible asset amortization expense.", + "Global operations include research, development engineering, medical education, brand management, corporate legal, finance, and human resource functions, and U. S. and Puerto Rico-based manufacturing operations and logistics.", + "Intercompany transactions have been eliminated from segment operating profit.", + "Management reviews accounts receivable, inventory, property, plant and equipment, goodwill and intangible assets by reportable segment exclusive of U.", + "S and Puerto Rico-based manufacturing operations and logistics and corporate assets." + ], + "question_id": "simplong-test-15", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Noninterest income of 2015 Quarters Fourth, Net income of Change Fiscal Year 2019, and Total revenue, net of interest expense of 2016 Quarters Second ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The tax rate for fiscal 2019 was below the U. S. statutory tax rate of 21% partially due to lower statutory tax rates applicable to our operations in the foreign jurisdictions from which we earn income and tax incentives such as the foreign derived intangible income deduction and research and development tax credits.", + "These items are partially offset by the global intangible low-tax income (GILTI) tax.", + "The tax rate for f fiscal 2019 includes a $17.2 million tax benefit from a voluntary accounting policy change in the statutory statements of a foreign f subsidiary, an $11.2 million tax benefit from an increase in tax credits upon filing our fiscal 2018 federal income tax return and excess tax benefits from stock-based compensation payments of $28.7 million.", + "Similarly, our tax rate for fiscal 2018 was below our then blended U. S. federal statutory tax rate of 23.4%, primarily due to lower statutory tax rates applicable to our operations in the foreign jurisdictions in which we earn income and $25.6 million of tax benefit related to the release of uncertain tax positions due to laapses in statute of limitations.", + "In addition, our effective tax rate for fiscal f 2018 includes a provisional estimate for f a discrete tax benefit of $637.0 million from remeasuring our U. S. deferred tax assets and liaabilities at the lower 21.0% U. S. federal statutory tax rate and a provisional estimate of $691.0 million for the discrete tax charge from the Tax Legislation\u2019s one-time transition tax associated with our undistributed foreign earnings, which is comprised of a $755.0 million transitional tax less a deferred tax liability of $64.0 million that was recorded in prior years and excess tax benefits from stock-based compensation payments of $26.2 million.", + "Non-U.", + "S. jurisdictions accounted for approximately 75.9% of our total revenues for both fiscal 2019 and fiscal 2018.", + "This revenue generated outside of the U. S. results in a material portion of our pretax income being taxed outside the U. S. In fiscal 2019, this was primarily in Ireland and Singapore, at tax rates ranging from 12.5% to 17% and in fiscal 2018, this was primarily in Bermuda, Ireland and Singapore, at tax rates ranging from 0 to 33.3%.", + "The impact on our provision for income taxes on income earned in fforeign jurisdictions being taxed at rates different than the U. S. federal statutory rate was a benefit of approximately $242.9 million and a fforeign effective tax rate of approximately 21.1% for fiscal 2019 as compared to a benefit of approximately $420.8 million and a fforeign effective tax rate of approximately 5.2% for fiscal 2018.", + "Our foreign effective tax rates for both periods are inclusive of certain non-deductible expenses which can result in tax rates higher than the applicable statutory tax rates.", + "In addition, our effective income tax rate can be impacted each year by amounts for discrete factors or events and acquisition-related accounting adjustments.", + "See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K for further discussion.", + "Net Income", + "|||||Change||\n||Fiscal Year|||2019 over 2018|2018 over 2017|\n||2019|2018 -1|2017 -1|$ Change|% Change|$ Change|% Change||\n|Net income|$1,363,011|$1,506,980|$805,379|$-143,969|-10%|$701,601|87%||\n|Net income, as a % of revenue|22.8%|24.2%|15.4%||||||\n|Diluted EPS|$3.65|$4.00|$2.29|$-0.35|-9%|$1.71|75%||\n", + "(1) Balances have been restated to reflect the adoption of ASU 2014-09.", + "See Note 2a, Principles of Consolidation, in the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K.", + "The decrease in net income in fiscal 2019 as compared to fiscal 2018 was a result of a $189.0 million decrease in operating income, partially offset by a $25.6 million decrease in provision for income taxes and a $19.4 million decrease in nonoperating expense.", + "The increase in net income in fiscal 2018 as compared to fiscal 2017 was a result of a $736.8 million increase in operating income, partially offset by a $19.0 million increase in provision for income taxes and a $16.3 increase in nonoperating expense.", + "The impact of inflation and foreign currency exchange rate movement on our results of operations during the past three fiscal years has not been significant.", + "Table XII Selected Quarterly Financial Data", + "||2016 Quarters|2015 Quarters|\n|(In millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Income statement|||||||||\n|Net interest income|$10,292|$10,201|$10,118|$10,485|$9,686|$9,900|$9,517|$9,855|\n|Noninterest income|9,698|11,434|11,168|10,305|9,896|11,092|11,523|11,496|\n|Total revenue, net of interest expense|19,990|21,635|21,286|20,790|19,582|20,992|21,040|21,351|\n|Provision for credit losses|774|850|976|997|810|806|780|765|\n|Noninterest expense|13,161|13,481|13,493|14,816|14,010|13,939|13,959|15,826|\n|Income before income taxes|6,055|7,304|6,817|4,977|4,762|6,247|6,301|4,760|\n|Income tax expense|1,359|2,349|2,034|1,505|1,478|1,628|1,736|1,392|\n|Net income|4,696|4,955|4,783|3,472|3,284|4,619|4,565|3,368|\n|Net income applicable to common shareholders|4,335|4,452|4,422|3,015|2,954|4,178|4,235|2,986|\n|Average common shares issued and outstanding|10,170|10,250|10,328|10,370|10,399|10,444|10,488|10,519|\n|Average diluted common shares issued and outstanding|10,959|11,000|11,059|11,100|11,153|11,197|11,238|11,267|\n|Performance ratios|||||||||\n|Return on average assets|0.85%|0.90%|0.88%|0.64%|0.60%|0.84%|0.85%|0.64%|\n|Four quarter trailing return on average assets-1|0.82|0.76|0.74|0.73|0.73|0.74|0.52|0.42|\n|Return on average common shareholders\u2019 equity|7.04|7.27|7.40|5.11|4.99|7.16|7.43|5.37|\n|Return on average tangible common shareholders\u2019 equity-2|9.92|10.28|10.54|7.33|7.19|10.40|10.85|7.91|\n|Return on average shareholders' equity|6.91|7.33|7.25|5.36|5.07|7.22|7.29|5.55|\n|Return on average tangible shareholders\u2019 equity-2|9.38|9.98|9.93|7.40|7.04|10.08|10.24|7.87|\n|Total ending equity to total ending assets|12.20|12.30|12.23|12.03|11.95|11.88|11.70|11.68|\n|Total average equity to total average assets|12.24|12.28|12.13|11.98|11.79|11.70|11.67|11.50|\n|Dividend payout|17.68|17.32|11.73|17.13|17.57|12.48|12.36|17.62|\n|Per common share data|||||||||\n|Earnings|$0.43|$0.43|$0.43|$0.29|$0.28|$0.40|$0.40|$0.28|\n|Diluted earnings|0.40|0.41|0.41|0.28|0.27|0.38|0.38|0.27|\n|Dividends paid|0.075|0.075|0.05|0.05|0.05|0.05|0.05|0.05|\n|Book value|24.04|24.19|23.71|23.14|22.53|22.40|21.89|21.67|\n|Tangible book value-2|16.95|17.14|16.71|16.19|15.62|15.50|15.00|14.80|\n|Market price per share of common stock|||||||||\n|Closing|$22.10|$15.65|$13.27|$13.52|$16.83|$15.58|$17.02|$15.39|\n|High closing|23.16|16.19|15.11|16.43|17.95|18.45|17.67|17.90|\n|Low closing|15.63|12.74|12.18|11.16|15.38|15.26|15.41|15.15|\n|Market capitalization|$222,163|$158,438|$135,577|$139,427|$174,700|$162,457|$178,231|$161,909|\n", + "(1) Calculated as total net income for four consecutive quarters divided by annualized average assets for four consecutive quarters.", + "(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "For more information on these ratios, see Supplemental Financial Data on page 26, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "(3) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 55.", + "(4) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(5) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio Credit Risk Management \u2013 Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 63 and corresponding Table 30, and Commercial Portfolio Credit Risk Management \u2013 Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 69 and corresponding Table 37.", + "(6) Asset quality metrics as of December 31, 2016 include $243 million of non-U.", + "S. credit card allowance for loan and lease losses and $9.2 billion of non-U.", + "S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "(7) Primarily includes amounts allocated to the U. S. credit card and unsecured consumer lending portfolios in Consumer Banking, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "(8) Net charge-offs exclude $70 million, $83 million, $82 million and $105 million of write-offs in the PCI loan portfolio in the fourth, third, second and first quarters of 2016, respectively, and $82 million, $148 million, $290 million and $288 million in the fourth, third, second and first quarters of 2015, respectively.", + "For more information on PCI write-offs, see Consumer Portfolio Credit Risk Management \u2013 Purchased Credit-impaired Loan Portfolio on page 61.", + "(9) Risk-based capital ratios are reported under Basel 3 Advanced - Transition beginning in the fourth quarter of 2015.", + "Prior to fourth quarter of 2015, we were required to report risk-based capital ratios under Basel 3 Standardized - Transition only.", + "For additional information, see Capital Management on page 44.", + "FUTURE MINIMUM LEASE OBLIGATIONS", + "||As of February 28, 2010|\n|(In thousands)|Capital Leases -1|Operating Lease Commitments-1|\n|Fiscal 2011|$3,608|$82,832|\n|Fiscal 2012|3,608|82,788|\n|Fiscal 2013|3,608|82,688|\n|Fiscal 2014|3,643|83,026|\n|Fiscal 2015|3,884|83,041|\n|Fiscal 2016 and thereafter|37,056|557,452|\n|Total minimum lease payments|55,407|$971,827|\n|Less amounts representing interest|-27,319||\n|Present value of net minimum capital lease payments|$28,088||\n", + "(1) Excludes taxes, insurance and other costs payable directly by us.", + "These costs vary from year to year and are incurred in the ordinary course of business.", + "We did not enter into any sale-leaseback transactions in fiscal 2010 or fiscal 2008.", + "We completed sale-leaseback transactions involving two superstores valued at approximately $31.3 million in fiscal 2009.", + "All sale-leaseback transactions are structured at competitive rates.", + "Gains or losses on sale-leaseback transactions are recorded as deferred rent and amortized over the lease term.", + "Other than occupancy, we do not have continuing involvement under the sale-leaseback transactions.", + "In conjunction with certain sale-leaseback transactions, we must meet financial covenants relating to minimum tangible net worth and minimum coverage of rent expense.", + "We were in compliance with all such covenants as of February 28, 2010.15.", + "SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (A) Goodwill and Other Intangibles Other assets included goodwill and other intangibles with a carrying value of $10.1 million as of February 28, 2010, and February 28, 2009.", + "No impairment of goodwill or intangible assets resulted from our annual impairment tests in fiscal 2010, fiscal 2009 or fiscal 2008.", + "(B) Restricted Investments Restricted investments, included in other assets, consisted of $30.7 million in money market securities as of February 28, 2010, and $28.5 million in money market securities and $2.2 million in other debt securities as of February 28, 2009.", + "For fiscal 2010, proceeds from the sales of other debt securities totaled $2.2 million.", + "For fiscal 2009, there were no proceeds from the sales of other debt securities.", + "Due to the short-term nature and/or variable rates associated with these financial instruments, the carrying value approximates fair value.", + "(C) Other Accrued Expenses As of February 28, 2010 and 2009, accrued expenses and other current liabilities included accrued compensation and benefits of $62.1 million and $24.3 million, respectively, and loss reserves for general liability and workers\u2019 compensation insurance of $23.9 million and $22.2 million, respectively.", + "(D) Advertising Expense SG&A expenses included advertising expense of $75.1 million in fiscal 2010, $101.5 million in fiscal 2009 and $108.8 million in fiscal 2008.", + "Advertising expenses were 1.0% of net sales and operating revenues for fiscal 2010, 1.5% for fiscal 2009 and 1.3% for fiscal year 2008.16.", + "CONTINGENT LIABILITIES (A) Litigation On April 2, 2008, Mr. John Fowler filed a putative class action lawsuit against CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. in the Superior Court of California, County of Los Angeles.", + "Subsequently, two other lawsuits, Leena Areso et al.", + "v. CarMax Auto Superstores California, LLC and Justin Weaver v. CarMax Auto Superstores California, LLC, were consolidated as part of the Fowler case.", + "The allegations", + "FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES Selected cash flows for the years ended December 31, 2014, 2013, and 2012 are as follows (in millions):" + ], + "question_id": "simplong-test-16", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Total loans and leases in table1, what's the sum of total assets in table 1? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "BCC enters into certain transactions with Boeing, reflected in Unallocated items, eliminations and other, in the form of intercompany guarantees and other subsidies that mitigate the effects of certain credit quality or asset impairment issues on the BCC segment.", + "Liquidity and Capital Resources Cash Flow Summary", + "|Years ended December 31,|2015|2014|2013|\n|Net earnings|$5,176|$5,446|$4,585|\n|Non-cash items|2,392|2,515|2,516|\n|Changes in working capital|1,795|897|1,078|\n|Net cash provided by operating activities|9,363|8,858|8,179|\n|Net cash (used)/provided by investing activities|-1,846|2,467|-5,154|\n|Net cash used by financing activities|-7,920|-8,593|-4,249|\n|Effect of exchange rate changes on cash and cash equivalents|-28|-87|-29|\n|Net (decrease)/increase in cash and cash equivalents|-431|2,645|-1,253|\n|Cash and cash equivalents at beginning of year|11,733|9,088|10,341|\n|Cash and cash equivalents at end of period|$11,302|$11,733|$9,088|\n", + "Operating Activities Net cash provided by operating activities was $9.4 billion during 2015, compared with $8.9 billion during 2014 and $8.2 billion in 2013.", + "The increase of $0.5 billion in 2015 was primarily due to lower inventory growth, partially offset by lower receipts of advances and progress billings.", + "The increase of $0.7 billion in 2014 was primarily due to higher customer advances which more than offset higher gross inventory.", + "Our investment in gross inventories decreased by $0.3 billion in 2015 primarily in our BDS business, largely driven by ending production of C-17 aircraft, which more than offset continued investment in commercial airplane program inventory.", + "Our investment in gross inventories increased $7.6 billion in 2014 and $5.7 billion in 2013, largely driven by continued investment in commercial airplane program inventory, primarily 787 inventory.", + "Advances and progress billings increased by $0.4 billion in 2015, $6.9 billion in 2014 and $3.9 billion in 2013, primarily due to payments from Commercial Airplane customers.", + "Discretionary contributions to our pension plans were insignificant in 2015 compared with $0.8 billion in 2014 and $1.5 billion in 2013.", + "Investing Activities Cash used by investing activities was $1.8 billion during 2015 compared with $2.5 billion provided during 2014 and $5.2 billion used during 2013, largely due to changes in investments in time deposits.", + "Net proceeds from investments were $0.6 billion in 2015 compared with $4.8 billion in 2014 and net contributions to investments of $2.9 billion in 2013.", + "In 2015, capital expenditures totaled $2.5 billion, up from $2.2 billion in 2014 and $2.1 billion in 2013.", + "We expect capital expenditures in 2016 to be consistent with 2015 due to continued investment to support growth.", + "Financing Activities Cash used by financing activities was $7.9 billion during 2015, a decrease of $0.7 billion compared with 2014 primarily due to higher new borrowings of $0.8 billion and lower repayments of debt and distribution rights of $0.9 billion in 2015, which more than offset higher share repurchases of $0.8 billion and higher dividend payments of $0.4 billion in 2015.", + "Cash used by financing activities was $8.6 billion during 2014, an increase of $4.3 billion compared with 2013 primarily due to higher share repurchases of $3.2 billion, higher dividends paid of $0.6 billion and a decrease in proceeds from stock options exercised of $0.8 billion in 2014, partially offset by higher new borrowings of $0.4 billion in 2014.", + "Table XII Selected Quarterly Financial Data (continued)", + "||2013 Quarters|2012 Quarters|\n|(Dollars in millions)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Average balance sheet|||||||||\n|Total loans and leases|$929,777|$923,978|$914,234|$906,259|$893,166|$888,859|$899,498|$913,722|\n|Total assets|2,134,875|2,123,430|2,184,610|2,212,430|2,210,365|2,173,312|2,194,563|2,187,174|\n|Total deposits|1,112,674|1,090,611|1,079,956|1,075,280|1,078,076|1,049,697|1,032,888|1,030,112|\n|Long-term debt|251,055|258,717|270,198|273,999|277,894|291,684|333,173|363,518|\n|Common shareholders\u2019 equity|220,088|216,766|218,790|218,225|219,744|217,273|216,782|214,150|\n|Total shareholders\u2019 equity|233,415|230,392|235,063|236,995|238,512|236,039|235,558|232,566|\n|Asset quality-4|||||||||\n|Allowance for credit losses-5|$17,912|$19,912|$21,709|$22,927|$24,692|$26,751|$30,862|$32,862|\n|Nonperforming loans, leases and foreclosed properties-6|17,772|20,028|21,280|22,842|23,555|24,925|25,377|27,790|\n|Allowance for loan and lease losses as a percentage of total loans and leases outstanding-6|1.90%|2.10%|2.33%|2.49%|2.69%|2.96%|3.43%|3.61%|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases-6|102|100|103|102|107|111|127|126|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the PCI loan portfolio-6|87|84|84|82|82|81|90|91|\n|Amounts included in allowance that are excluded from nonperforming loans and leases-7|$7,680|$8,972|$9,919|$10,690|$12,021|$13,978|$16,327|$17,006|\n|Allowance as a percentage of total nonperforming loans and leases, excluding amounts included in the allowance that are excluded from nonperforming loans and leases-7|57%|54%|55%|53%|54%|52%|59%|60%|\n|Net charge-offs-8|$1,582|$1,687|$2,111|$2,517|$3,104|$4,122|$3,626|$4,056|\n|Annualized net charge-offs as a percentage of average loans and leases outstanding-6, 8|0.68%|0.73%|0.94%|1.14%|1.40%|1.86%|1.64%|1.80%|\n|Annualized net charge-offs as a percentage of average loans and leases outstanding, excluding the PCI loan portfolio-6|0.70|0.75|0.97|1.18|1.44|1.93|1.69|1.87|\n|Annualized net charge-offs and PCI write-offs as a percentage of average loans and leases outstanding-6, 9|1.00|0.92|1.07|1.52|1.90|2.63|1.64|1.80|\n|Nonperforming loans and leases as a percentage of total loans and leases outstanding-6|1.87|2.10|2.26|2.44|2.52|2.68|2.70|2.85|\n|Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties-6|1.93|2.17|2.33|2.53|2.62|2.81|2.87|3.10|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs-8|2.78|2.90|2.51|2.20|1.96|1.60|2.08|1.97|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs, excluding the PCI loan portfolio|2.38|2.42|2.04|1.76|1.51|1.17|1.46|1.43|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs and PCI write-offs-9|1.89|2.30|2.18|1.65|1.44|1.13|2.08|1.97|\n|Capital ratios at period end-10|||||||||\n|Risk-based capital:|||||||||\n|Tier 1 common capital|11.19%|11.08%|10.83%|10.49%|11.06%|11.41%|11.24%|10.78%|\n|Tier 1 capital|12.44|12.33|12.16|12.22|12.89|13.64|13.80|13.37|\n|Total capital|15.44|15.36|15.27|15.50|16.31|17.16|17.51|17.49|\n|Tier 1 leverage|7.86|7.79|7.49|7.49|7.37|7.84|7.84|7.79|\n|Tangible equity-3|7.86|7.73|7.67|7.78|7.62|7.85|7.73|7.48|\n|Tangible common equity-3|7.20|7.08|6.98|6.88|6.74|6.95|6.83|6.58|\n", + "For footnotes see page 134", + "ITEM 12.", + "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.", + "The information required by Item 12 is included under the heading \u201cSecurity Ownership of Management and Certain Beneficial Owners\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K. Equity Compensation Plan Information The following table provides information about our equity compensation plans that authorize the issuance of shares of Lockheed Martin common stock to employees and directors.", + "The information is provided as of December 31, 2016.", + "|Plan category|Number of securities to beissued upon exercise of outstanding options, warrants and rights (a)|Weighted-average exercise price of outstanding options, warrants and rights (b)|Number of securities remaining availablefor future issuance under equity compensation plans (excluding securities reflected in column (a)) (c)|\n|Equity compensation plans approved by securityholders-1|5,802,673|$85.82|6,216,471|\n|Equity compensation plans not approved bysecurity holders-2|1,082,347|\u2014|2,481,032|\n|Total|6,885,020|$85.82|8,697,503|\n", + "(1) Column (a) includes, as of December 31, 2016: 1,747,151 shares that have been granted as Restricted Stock Units (RSUs), 936,308 shares that could be earned pursuant to grants of Performance Stock Units (PSUs) (assuming the maximum number of PSUs are earned and payable at the end of the three-year performance period) and 2,967,046 shares granted as options under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (2011 IPA Plan) or predecessor plans prior to January 1, 2013 and 23,346 shares granted as options and 128,822 stock units payable in stock or cash under the Lockheed Martin Corporation 2009 Directors Equity Plan (Directors Equity Plan) or predecessor plans for members (or former members) of the Board of Directors.", + "Column (c) includes, as of December 31, 2016, 5,751,655 shares available for future issuance under the 2011 IPA Plan as options, stock appreciation rights (SARs), restricted stock awards (RSAs), RSUs or PSUs and 464,816 shares available for future issuance under the Directors Equity Plan as stock options and stock units.", + "Of the 5,751,655 shares available for grant under the 2011 IPA Plan on December 31, 2016, 516,653 and 236,654 shares are issuable pursuant to grants made on January 26, 2017, of RSUs and PSUs (assuming the maximum number of PSUs are earned and payable at the end of the three-year performance period), respectively.", + "The weighted average price does not take into account shares issued pursuant to RSUs or PSUs.", + "(2) The shares represent annual incentive bonuses and Long-Term Incentive Performance (LTIP) payments earned and voluntarily deferred by employees.", + "The deferred amounts are payable under the Deferred Management Incentive Compensation Plan (DMICP).", + "Deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective.", + "Amounts equal to our dividend are credited as stock units at the time we pay a dividend.", + "Following termination of employment, a number of shares of stock equal to the number of stock units credited to the employee\u2019s DMICP account are distributed to the employee.", + "There is no discount or value transfer on the stock distributed.", + "Distributions may be made from newly issued shares or shares purchased on the open market.", + "Historically, all distributions have come from shares held in a separate trust and, therefore, do not further dilute our common shares outstanding.", + "As a result, these shares also were not considered in calculating the total weighted average exercise price in the table.", + "Because the DMICP shares are outstanding, they should be included in the denominator (and not the numerator) of a dilution calculation.", + "ITEM 13.", + "Certain Relationships and Related Transactions and Director Independence.", + "The information required by this Item 13 is included under the captions \u201cCorporate Governance \u2013 Related Person Transaction Policy,\u201d \u201cCorporate Governance \u2013 Certain Relationships and Related Person Transactions of Directors, Executive Officers, and 5 Percent Stockholders,\u201d and \u201cCorporate Governance \u2013 Director Independence\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K.", + "ITEM 14.", + "Principal Accountant Fees and Services.", + "The information required by this Item 14 is included under the caption \u201cProposal 2 \u2013 Ratification of Appointment of Independent Auditors\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K.", + "Total debt at December 31 consisted of the following (in thousands):", + "||2017|2016|\n|2016 Facility|$1,270,000|$1,930,000|\n|$400 million 1.850% senior notes due 2017|\u2014|400,000|\n|$800 million 2.050% senior notes due 2018|800,000|800,000|\n|$500 million 6.250% senior notes due 2019|500,000|500,000|\n|$600 million 3.000% senior notes due 2020|600,000|600,000|\n|$500 million 2.800% senior notes due 2021|500,000|500,000|\n|$500 million 3.125% senior notes due 2022|500,000|500,000|\n|$300 million 3.850% senior notes due 2025|300,000|300,000|\n|$700 million 3.800% senior notes due 2026|700,000|700,000|\n|Other|3,149|2,989|\n|Less unamortized debt issuance costs|-17,594|-23,453|\n|Total debt|5,155,555|6,209,536|\n|Less current portion, net of issuance costs|800,944|400,975|\n|Long-term debt|$4,354,611|$5,808,561|\n", + "The 2016 Facility and Roper\u2019s $3.9 billion senior notes provide substantially all of Roper\u2019s daily external financing require\u0002ments.", + "The interest rate on the borrowings under the 2016 Facility is calculated based upon various recognized indices plus a margin as defined in the credit agreement.", + "At December 31, 2017, Roper\u2019s fixed debt consisted of $3.9 billion of senior notes, $3.1 million of other debt in the form of capital leases, several smaller facilities that allow for borrowings or the issuance of letters of credit in foreign locations to support Roper\u2019s non-U.", + "S. businesses and $75.9 million of outstanding letters of credit at December 31, 2017.", + "Future maturities of total debt during each of the next five years ending December 31 and thereafter were as follows", + "|2018|$801,503|\n|2019|501,061|\n|2020|600,529|\n|2021|1,770,047|\n|2022|500,009|\n|Thereafter|1,000,000|\n|Total|$5,173,149|\n", + "(9) FAIR VALUE Roper\u2019s debt at December 31, 2017 included $3.9 billion of fixed-rate senior notes with the following fair values (in millions):" + ], + "question_id": "simplong-test-17", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Fixed income of Active develops with the same increasing rate in2016, what will it reach in 2017? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Contractual Obligations and Commercial Commitments The following table (in thousands) summarizes our contractual obligations at March 31, 2007 and the effects such obligations are expected to have on our liquidity and cash flows in future periods.", + "||Payments Due By Fiscal Year|\n|Contractual Obligations|Total|Less than 1 Year|1-3 Years|3-5 Years|More than 5 Years|\n|Operating Lease Obligations|$7,669|$1,960|$3,441|$1,652|$616|\n|Purchase Obligations|6,421|6,421|\u2014|\u2014|\u2014|\n|Total Obligations|$14,090|$8,381|$3,441|$1,652|$616|\n", + "We have no long-term debt, capital leases or material commitments at March 31, 2007 other than those shown in the table above.", + "In May 2005, we acquired all the shares of outstanding capital stock of Impella CardioSystems AG, a company headquartered in Aachen, Germany.", + "The aggregate purchase price excluding a contingent payment in the amount of $5.6 million made on January 30, 2007 in the form of common stock, was approximately $45.1 million, which consisted of $42.2 million of our common stock, $1.6 million of cash paid to certain former shareholders of Impella, and $1.3 million of transaction costs, consisting primarily of fees paid for financial advisory and legal services.", + "We may make additional contingent payments to Impella\u2019s former shareholders based on additional milestone payments related to FDA approvals in the amount of up to $11.2 million.", + "These contingent payments may be made in a combination of cash or stock under circumstances described in the purchase agreement.", + "If any contingent payments are made, they will result in an increase to the carrying value of goodwill.", + "We apply the disclosure provisions of FIN No.45, Guarantor\u2019s Accounting and Disclosure Requirements for Guarantees, Including Guarantees of Indebtedness of Others, and Interpretation of FASB Statements No.5, 57 and 107 and Rescission of FASB Interpretation No.34 (FIN No.45) to our agreements that contain guarantee or indemnification clauses.", + "These disclosure provisions expand those required by SFAS No.5 by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor\u2019s performance is remote.", + "The following is a description of arrangements in which we are a guarantor.", + "We enter into agreements with other companies in the ordinary course of business, typically with underwriters, contractors, clinical sites and customers that include indemnification provisions.", + "Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities.", + "These indemnification provisions generally survive termination of the underlying agreement.", + "The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited.", + "We have never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements.", + "As a result, the estimated fair value of these agreements is minimal.", + "Accordingly, we have no liabilities recorded for these agreements as of March 31, 2007.", + "Clinical study agreements \u2013 In our clinical study agreements, we have agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to use of our devices in accordance with the clinical study agreement, the protocol for the device and our instructions.", + "The indemnification provisions contained within our clinical study agreements do not generally include limits on the claims.", + "We have never incurred any material costs related to the indemnification provisions contained in our clinical study agreements.", + "Product warranties\u2014We routinely accrue for estimated future warranty costs on our product sales at the time of shipment.", + "All of our products are subject to rigorous regulation and quality standards.", + "While we engage in extensive product quality programs and processes, including monitoring and evaluating the quality of our component suppliers, our warranty obligations are affected by product failure rates.", + "Our operating results could be adversely affected if the actual cost of product failures exceeds the estimated warranty provision.", + "Patent indemnifications\u2014In many sales transactions, we indemnify customers against possible claims of patent infringement caused by our products.", + "The indemnifications contained within sales contracts usually do not include limits on the claims.", + "We have never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions.", + "Under the provisions of FIN No.45, intellectual property indemnifications require disclosure only.", + "iShares iShares is the leading ETF provider in the world, with $1.3 trillion of AUM at December 31, 2016 and was the top asset gatherer globally in 20161 with record net inflows of $140.5 billion resulting in an organic growth rate of 13%.", + "Equity net inflows of $74.9 billion were driven by flows into the Core range and into funds with U. S. and broad developed market equity exposures.", + "Record fixed income net inflows of $59.9 billion were diversified across exposures and product lines, led by flows into the Core range, corporate and high yield bond funds.", + "iShares multi-asset and alternatives funds contributed a combined $5.7 billion of net inflows, primarily into commodities funds.", + "iShares represented 27% of long-term AUM at December 31, 2016 and 36% of long-term base fees for 2016.", + "Component changes in iShares AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Netinflows|Marketchange|FX impact|December 31,2016|\n|Equity|$823,156|$74,914|$56,469|$-3,287|$951,252|\n|Fixed income|254,190|59,913|3,782|-3,178|314,707|\n|Multi-asset|2,730|354|61|4|3,149|\n|Alternatives-1|12,485|5,298|1,055|-67|18,771|\n|Total|$1,092,561|$140,479|$61,367|$-6,528|$1,287,879|\n", + "(1) Amounts include commodity iShares.", + "Our broad iShares product range offers investors a precise, transparent and efficient way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult for many investors to access, as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently. ?", + "U. S. iShares AUM ended 2016 at $967.3 billion with $106.9 billion of net inflows driven by strong demand for the Core range and U. S. and broad developed market equities as well as a diverse range of fixed income products.2 In 2016, we saw increased investor focus on risk-aware, \u201csmart beta\u201d products, which saw $20.2 billion of net inflows. ?", + "International iShares AUM ended 2016 at $320.5 billion with net inflows of $33.6 billion led by fixed income net inflows of $21.9 billion, diversified across high yield, emerging market and investment grade corporate bond funds.2 Our international Core ranges in Canada and Europe demonstrated solid results in their third year, raising a combined $11.6 billion in net inflows as we continue to expand our international presence among buy-and-hold investors.", + "Institutional BlackRock\u2019s institutional AUM is well diversified by both product and region, and we serve institutional investors on six continents in sub-categories including: pensions, endowments and foundations, official institutions, and financial institutions.", + "Component changes in Institutional long-term AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Net inflows (outflows)|Marketchange|FX impact|December 31,2016|\n|Active:||||||\n|Equity|$121,442|$-7,449|$11,112|$-4,406|$120,699|\n|Fixed income|514,428|10,234|20,242|-8,177|536,727|\n|Multi-asset|252,041|13,322|18,516|-6,946|276,933|\n|Alternatives|74,941|1,811|619|-1,756|75,615|\n|Active subtotal|962,852|17,918|50,489|-21,285|1,009,974|\n|Index:||||||\n|Equity|1,285,419|-8,612|135,997|-23,800|1,389,004|\n|Fixed income|441,097|41,401|55,665|-39,488|498,675|\n|Multi-asset|6,258|-82|843|-91|6,928|\n|Alternatives|6,003|784|790|-503|7,074|\n|Index subtotal|1,738,777|33,491|193,295|-63,882|1,901,681|\n|Total|$2,701,629|$51,409|$243,784|$-85,167|$2,911,655|\n", + "From an enterprise risk management perspective, management sets limits on the levels of catastrophe loss exposure the Company may underwrite.", + "The limits are revised periodically based on a variety of factors, including but not limited to the Company\u2019s financial resources and expected earnings and risk/reward analyses of the business being underwritten.", + "The Company may purchase reinsurance to cover specific business written or the potential accumulation or aggregation of exposures across some or all of its operations.", + "Reinsurance purchasing decisions consider both the potential coverage and market conditions including the pricing, terms, conditions, availability and collectability of coverage, with the aim of securing cost effective protection from financially secure counterparties.", + "The amount of reinsurance purchased has varied over time, reflecting the Company\u2019s view of its exposures and the cost of reinsurance.", + "Management estimates that the projected net economic loss from its largest 100-year event in a given zone represents approximately 10% of its December 31, 2018 shareholders\u2019 equity.", + "Economic loss is the PML exposure, net of third party reinsurance, reduced by estimated reinstatement premiums to renew coverage and estimated income taxes.", + "The impact of income taxes on the PML depends on the distribution of the losses by corporate entity, which is also affected by inter-affiliate reinsurance.", + "Management also monitors and controls its largest PMLs at multiple points along the loss distribution curve, such as loss amounts at the 20, 50, 100, 250, 500 and 1,000 year return periods.", + "This process enables management to identify and control exposure accumulations and to integrate such exposures into enterprise risk, underwriting and capital management decisions.", + "The Company\u2019s catastrophe loss projections, segmented by risk zones, are updated quarterly and reviewed as part of a formal risk management review process.", + "The table below reflects the Company\u2019s PML exposure, net of third party reinsurance at various return periods for its top three zones/perils (as ranked by the largest 1 in 100 year economic loss) based on loss projection data as of January 1, 2019, adjusted to reflect Industry Loss Warranty (ILW) purchases at the same level the Company had available during 2018.", + "|Return Periods (in years)|1 in 20|1 in 50|1 in 100||1 in 250|1 in 500|1 in 1,000|\n|Exceeding Probability|5.0%|2.0%|1.0%|0.4%|0.2%|0.1%|\n|(Dollars in millions)||||||||\n|Zone/ Peril||||||||\n|Southeast U.S., Wind|$639|$888|$1,036||$1,315|$1,583|$2,444|\n|California, Earthquake|136|470|781||1,132|1,302|1,571|\n|Texas, Wind|158|467|769||1,077|1,152|1,236|\n", + "The projected net economic losses, defined as PML exposures, net of third party reinsurance, reinstatement premiums and estimated income taxes, for the top three zones/perils scheduled above are as follows:" + ], + "question_id": "simplong-test-18", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the amount of Commercial and Commercial realestate in the years with the least Commercial for Gross Charge-offs ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Tobacco-Related Cases Set for Trial: As of January 29, 2018, three Engle progeny cases are set for trial through March 31, 2018.", + "There are no other individual smoking and health cases against PM USA set for trial during this period.", + "Cases against other companies in the tobacco industry may be scheduled for trial during this period.", + "Trial dates are subject to change.", + "Trial Results: Since January 1999, excluding the Engle progeny cases (separately discussed below), verdicts have been returned in 63 smoking and health, \u201cLights/Ultra Lights\u201d and health care cost recovery cases in which PM USA was a defendant.", + "Verdicts in favor of PM USA and other defendants were returned in 42 of the 63 cases.", + "These 42 cases were tried in Alaska (1), California (7), Connecticut (1), Florida (10), Louisiana (1), Massachusetts (2), Mississippi (1), Missouri (4), New Hampshire (1), New Jersey (1), New York (5), Ohio (2), Pennsylvania (1), Rhode Island (1), Tennessee (2) and West Virginia (2).", + "A motion for a new trial was granted in one of the cases in Florida and in the case in Alaska.", + "In the Alaska case (Hunter), the trial court withdrew its order for a new trial upon PM USA\u2019s motion for reconsideration.", + "In December 2015, the Alaska Supreme Court reversed the trial court decision and remanded the case with directions for the trial court to reassess whether to grant a new trial.", + "In March 2016, the trial court granted a new trial and PM USA filed a petition for review of that order with the Alaska Supreme Court, which the court denied in July 2016.", + "The retrial began in October 2016.", + "In November 2016, the court declared a mistrial after the jury failed to reach a verdict.", + "The plaintiff subsequently moved for a new trial, which is scheduled to begin April 9, 2018.", + "See Types and Number of Cases above for a discussion of the trial results in In re: Tobacco Litigation (West Virginia consolidated cases).", + "Of the 21 non-Engle progeny cases in which verdicts were returned in favor of plaintiffs, 18 have reached final resolution.", + "As of January 29, 2018, 116 state and federal Engle progeny cases involving PM USA have resulted in verdicts since the Florida Supreme Court\u2019s Engle decision as follows: 61 verdicts were returned in favor of plaintiffs; 45 verdicts were returned in favor of PM USA.", + "Eight verdicts that were initially returned in favor of plaintiff were reversed post-trial or on appeal and remain pending and two verdicts in favor of PM USA were reversed for a new trial.", + "See Smoking and Health Litigation - Engle Progeny Trial Court Results below for a discussion of these verdicts.", + "Judgments Paid and Provisions for Tobacco and Health Litigation Items (Including Engle Progeny Litigation): After exhausting all appeals in those cases resulting in adverse verdicts associated with tobacco-related litigation, since October 2004, PM USA has paid in the aggregate judgments and settlements (including related costs and fees) totaling approximately $490 million and interest totaling approximately $184 million as of December 31, 2017.", + "These amounts include payments for Engle progeny judgments (and related costs and fees) totaling approximately $99 million, interest totaling approximately $22 million and payment of approximately $43 million in connection with the Federal Engle Agreement, discussed below.", + "The changes in Altria Group, Inc. \u2019s accrued liability for tobacco and health litigation items, including related interest costs, for the periods specified below are as follows:", + "|(in millions)|2017|2016|2015|\n|Accrued liability for tobacco and health litigation items at beginning of year|$47|$132|$39|\n|Pre-tax charges for:||||\n|Tobacco and health judgments|72|21|84|\n|Related interest costs|8|7|23|\n|Agreement to resolve federalEngleprogeny cases|\u2014|\u2014|43|\n|Agreement to resolveAspinallincluding relatedinterest costs|\u2014|32|\u2014|\n|Agreement to resolveMiner|\u2014|45|\u2014|\n|Payments|-21|-190|-57|\n|Accrued liability for tobacco and health litigation items atend of year|$106|$47|$132|\n", + "The accrued liability for tobacco and health litigation items, including related interest costs, was included in liabilities on Altria Group, Inc. \u2019s consolidated balance sheets.", + "Pre-tax charges for tobacco and health judgments, the agreement to resolve federal Engle progeny cases and the agreements to resolve the Aspinall and Miner \u201clights\u201d class action cases (excluding related interest costs of approximately $10 million in Aspinall) were included in marketing, administration and research costs on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Pre-tax charges for related interest costs were included in interest and other debt expense, net on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Security for Judgments: To obtain stays of judgments pending current appeals, as of December 31, 2017, PM USA has posted various forms of security totaling approximately $61 million, the majority of which has been collateralized with cash deposits that are included in assets on the consolidated balance sheet.", + "Information about stock options at December 31, 2007 follows:", + "||Options Outstanding|Options Exercisable(a)|\n|December 31, 2007Shares in thousandsRange of exercise prices|Shares|Weighted- averageexercise price|Weighted-average remaining contractual life (in years)|Shares|Weighted-averageexercise price|\n|$37.43 \u2013 $46.99|1,444|$43.05|4.0|1,444|$43.05|\n|47.00 \u2013 56.99|3,634|53.43|5.4|3,022|53.40|\n|57.00 \u2013 66.99|3,255|60.32|5.2|2,569|58.96|\n|67.00 \u2013 76.23|5,993|73.03|5.5|3,461|73.45|\n|Total|14,326|$62.15|5.3|10,496|$59.95|\n", + "(a) The weighted-average remaining contractual life was approximately 4.2 years.", + "At December 31, 2007, there were approximately 13,788,000 options in total that were vested and are expected to vest.", + "The weighted-average exercise price of such options was $62.07 per share, the weighted-average remaining contractual life was approximately 5.2 years, and the aggregate intrinsic value at December 31, 2007 was approximately $92 million.", + "Stock options granted in 2005 include options for 30,000 shares that were granted to non-employee directors that year.", + "No such options were granted in 2006 or 2007.", + "Awards granted to non-employee directors in 2007 include 20,944 deferred stock units 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 under SFAS 123R until such awards are paid to the participants as cash.", + "As there are no vestings or service requirements on these awards, total compensation expense is recognized in full on all awarded units on the date of grant.", + "The weighted-average grant-date fair value of options granted in 2007, 2006 and 2005 was $11.37, $10.75 and $9.83 per option, respectively.", + "To determine stock-based compensation expense under SFAS 123R, the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures.", + "At December 31, 2006 and 2005 options for 10,743,000 and 13,582,000 shares of common stock, respectively, were exercisable at a weighted-average price of $58.38 and $56.58, respectively.", + "The total intrinsic value of options exercised during 2007, 2006 and 2005 was $52 million, $111 million and $31 million, respectively.", + "At December 31, 2007 the aggregate intrinsic value of all options outstanding and exercisable was $94 million and $87 million, respectively.", + "Cash received from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $111 million, $233 million and $98 million, respectively.", + "The actual tax benefit realized for tax deduction purposes from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $39 million, $82 million and $34 million, respectively.", + "There were no options granted in excess of market value in 2007, 2006 or 2005.", + "Shares of common stock available during the next year for the granting of options and other awards under the Incentive Plans were 40,116,726 at December 31, 2007.", + "Total shares of PNC common stock authorized for future issuance under equity compensation plans totaled 41,787,400 shares at December 31, 2007, which includes shares available for issuance under the Incentive Plans, the Employee Stock Purchase Plan as described below, and a director plan.", + "During 2007, we issued approximately 2.1 million shares from treasury stock in connection with stock option exercise activity.", + "As with past exercise activity, we intend to utilize treasury stock for future stock option exercises.", + "As discussed in Note 1 Accounting Policies, we adopted the fair value recognition provisions of SFAS 123 prospectively to all employee awards including stock options granted, modified or settled after January 1, 2003.", + "As permitted under SFAS 123, we recognized compensation expense for stock options on a straight-line basis over the pro rata vesting period.", + "Total compensation expense recognized related to PNC stock options in 2007 was $29 million compared with $31 million in 2006 and $29 million in 2005.", + "PRO FORMA EFFECTS A table is included in Note 1 Accounting Policies that sets forth pro forma net income and basic and diluted earnings per share as if compensation expense had been recognized under SFAS 123 and 123R, as amended, for stock options for 2005.", + "For purposes of computing stock option expense and 2005 pro forma results, we estimated the fair value of stock options using the Black-Scholes option pricing model.", + "The model requires the use of numerous assumptions, many of which are very subjective.", + "Therefore, the 2005 pro forma results are estimates of results of operations as if compensation expense had been recognized for all stock-based compensation awards and are not indicative of the impact on future periods.", + "See Note 1 Accounting Policies and Note 3 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances.", + "Table 23: Allowance for Loan and Lease Losses", + "|Dollars in millions|2017|2016|\n|January 1|$2,589|$2,727|\n|Total net charge-offs|-457|-543|\n|Provision for credit losses|441|433|\n|Net decrease / (increase) in allowance forunfunded loan commitments andletters of credit|4|-40|\n|Other|34|12|\n|December 31|$2,611|$2,589|\n|Net charge-offs to average loans (for theyear ended)|.21%|.26%|\n|Allowance for loan and lease losses tototal loans|1.18%|1.23%|\n|Commercial lending net charge-offs|$-105|$-185|\n|Consumer lending net charge-offs|-352|-358|\n|Total net charge-offs|$-457|$-543|\n|Net charge-offs to average loans (for theyear ended)|||\n|Commercial lending|.07%|.14%|\n|Consumer lending|.49%|.50%|\n", + "At December 31, 2017, total ALLL to total nonperforming loans was 140%.", + "The comparable amount for December 31, 2016 was 121%.", + "These ratios are 102% and 89%, respectively, when excluding the $.7 billion of ALLL at both December 31, 2017 and December 31, 2016 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans.", + "We have excluded these amounts from ALLL in these ratios as these asset classes are not included in nonperforming loans.", + "See Table 18 within this Credit Risk Management section for additional information.", + "The ALLL balance increases or decreases across periods in relation to fluctuating risk factors, including asset quality trends, net charge-offs and changes in aggregate portfolio balances.", + "During 2017, overall credit quality remained stable, which resulted in an essentially flat ALLL balance as of December 31, 2017 compared to December 31, 2016.", + "The following table summarizes our loan charge-offs and recoveries.", + "Table 24: Loan Charge-Offs and Recoveries", + "|Year ended December 31Dollars in millions|Gross Charge-offs|Recoveries|Net Charge-offs / (Recoveries)|Percent of Average Loans|\n|2017|||||\n|Commercial|$186|$81|$105|.10%|\n|Commercial realestate|24|28|-4|-.01%|\n|Equipmentlease financing|11|7|4|.05%|\n|Home equity|123|91|32|.11%|\n|Residential realestate|9|18|-9|-.06%|\n|Credit card|182|21|161|3.06%|\n|Other consumer|251|83|168|.77%|\n|Total|$786|$329|$457|.21%|\n|2016|||||\n|Commercial|$332|$117|$215|.21%|\n|Commercial realestate|26|51|-25|-.09%|\n|Equipment leasefinancing|5|10|-5|-.07%|\n|Home equity|143|84|59|.19%|\n|Residential realestate|14|9|5|.03%|\n|Credit card|161|19|142|2.90%|\n|Other consumer|205|53|152|.70%|\n|Total|$886|$343|$543|.26%|\n", + "See Note 1 Accounting Policies and Note 4 Allowance for Loan and Lease Losses in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information on the ALLL." + ], + "question_id": "simplong-test-19", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what portion of the securities approved by the security holders remains available for future issunce?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Survival Ratios-Asbestos and Environmental The following table presents AlG's survival ratios for asbestos and environmental claims for year-end 2006,2005 and 2004.", + "The survival ratio is derived by dividing the year end carried loss reserve by the average payments for the three most recent calendar years for these claims.", + "Therefore, the survival ratio is a simplistic measure estimating the number of years it would be before the current ending loss reser ves for these claims would be paid off using recent year average payments.", + "The December 31, 2006 survival ratio is lower than the ratio at December 31,2005because the more recent periods included in the rolling average reflect higher claims payments.", + "Many factors, such as aggressive settlement procedures, mix of business and level of coverage provided, have a significant effect on the amount of asbestos and environmental reserves and payments and the resultant survivalratio.", + "Thus, caution should be exercised in attempting to deter- mine reserve adequacy for these claims based simply on this survival ratio.", + "AlG's survival ratios for asbestos and environmental claims, separately and combined were based upon a three-year average payment.", + "These ratios for the years ended December 31,2006,2005 and 2004 were as follows:", + "||Gross|Net|\n| 2006|||\n|Survival ratios:|||\n|Asbestos| 11.7| 12.9|\n|Environmental| 5.3| 4.5|\n|Combined| 10.3| 10.3|\n|2005|||\n|Survival ratios:|||\n|Asbestos|15.9|19.8|\n|Environmental|6.9|6.2|\n|Combined|13.0|14.2|\n|2004|||\n|Survival ratios:|||\n|Asbestos|10.7|13.5|\n|Environmental|6.5|6.8|\n|Combined|9.1|10.5|\n", + "Life Insurance & Retirement Services Operations AIG's Life Insurance & Retirement Services subsidiaries offer a wide range of insurance and retirement savings products both domestically and abroad.", + "Domestically, AlG's Life Insurance & Retirement Services operations offer a broad range of protection products, such as life insurance and group life and health products, including disability income products and payout annuities, which include single premium immediate annuities, structured settlements and termi- nal funding annuities.", + "Home service operations include an array of life insurance, accident and health and annuity products soldprimarily through career agents.", + "In addition, home service in- cludes a small block of runoff property and casualty coverage.", + "Retirement services include group retirement products, individual fixed and variable annuities sold through banks, broker-dealers and exclusive sales representatives, and annuity runoff opera- tions, which include previously acquired\"closed blocks\"and other fixed and variable annuities largely sold through distribution relationships that have been discontinued.", + "Overseas, AlG's Life Insurance & Retirement Services opera- tions include insurance and investment-oriented products such as whole and term life, investment linked, universal life and endo- ments, personal accident and health products, group products including pension, life and health, and fixed and variable annuities.", + "AlG's Life Insurance & Retirement Ser vices subsidiaries reporttheir operations through the following major internal reporting units and business units: Foreign Life Insurance & Retirement Services Japan and Other* \u00b7ALICO \u00b7AlG Star Life \u00b7AIG Edison Life Asia\u00b7AIA \u00b7Nan Shan \u00b7AlRCO \u00b7Philamlife Domestic Life Insurance \u00b7AlG American General \u00b7USLIFE \u00b7AGLA Domestic Retirement Services \u00b7VALIC \u00b7AlG Annuity \u00b7AlG SunAmerica *Japan and Other consists of all operations in Japan and the operations of ALICO and its subsidi aries worldwide.", + "American International Group, Inc. and Subsidiaries 15.", + "Employee Benefits Continued (i) Components of net periodic benefit cost and other amounts recognized in other comprehensive income: The following table presents the components of net periodic benefit cost recognized in income and other amounts recognized in other comprehensive income with respect to the defined benefit pension plans and other postretirement benefit plans for the year ended December 31, 2006 (no amounts were recognized in other comprehensive income for the years ended 2005 and 2004):", + "||Pensions|Postretirement|\n|(in millions)|Non-U.S. Plans|U.S. Plans|Total|Non-U.S. Plans|U.S. Plans|Total|\n| 2006|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$78|$130|$208|$4|$6|$10|\n|Interest cost|36|169|205|2|11|13|\n|Expected return on assets|-28|-201|-229|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-9|-3|-12|\u2014|-6|-6|\n|Amortization of transitional obligation|1|\u2014|1|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|16|75|91|\u2014|\u2014|\u2014|\n|Other|1|6|7|\u2014|\u2014|\u2014|\n|Net periodic benefit cost|$95|$176|$271|$6|$11|$17|\n|Total recognized in other comprehensive income|$38|$24|$62|$\u2014|$\u2014|$\u2014|\n|Total recognized in net periodic benefit cost and other comprehensive income|$133|$200|$333|$6|$11|$17|\n|2005|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$71|$111|$182|$4|$5|$9|\n|Interest cost|32|153|185|2|11|13|\n|Expected return on assets|-21|-180|-201|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-10|-3|-13|\u2014|-6|-6|\n|Amortization of transitional obligation|1|\u2014|1|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|21|55|76|\u2014|\u2014|\u2014|\n|Other|7|1|8|\u2014|\u2014|\u2014|\n|Net periodic benefit cost|$101|$137|$238|$6|$10|$16|\n|2004|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$59|$101|$160|$3|$6|$9|\n|Interest cost|33|147|180|2|14|16|\n|Expected return on assets|-22|-170|-192|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-8|\u2014|-8|\u2014|-7|-7|\n|Amortization of transitional obligation|2|\u2014|2|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|15|53|68|11|2|13|\n|Other*|-24|\u2014|-24|3|\u2014|3|\n|Net periodic benefit cost|$55|$131|$186|$19|$15|$34|\n", + "* The reduction resulted from transferring to the Japanese government certain Japanese plan obligations approximating $50 million reduced by approximately $26 million loss incurred with respect to the settlement of those obligations.", + "For the U. S. plans, the estimated net loss, prior service credit and transition obligation for the defined benefit pension plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $37 million, $3 million and $0 million, respectively.", + "For the non-U.", + "S. plans, the estimated net loss, prior service credit and transition obligation for the defined benefit pension plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $11 million, $10 million and $1 million, respectively.", + "The estimated net loss, prior service credit and transition obligation for the other defined benefit postretirement plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year will be less than $5 million in the aggregate.", + "PART?III 59 ITEM?10.", + "DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE For the information required by this Item?10 with respect to our Executive Officers, see Part?I, Item 1. of this report.", + "For the other information required by this Item?10, see \u201cElection Of Directors,\u201d \u201cNominees for Election to the Board of Directors,\u201d \u201cCorporate Governance\u201d and \u201cSection?16(a) Beneficial Ownership Reporting Compliance,\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "The Proxy Statement for our 2019 Annual Meeting will be filed within 120?days after the end of the fiscal year covered by this Annual Report on Form 10-K.", + "ITEM?11.", + "EXECUTIVE COMPENSATION For the information required by this Item?11, see \u201cCompensation Discussion and Analysis,\u201d \u201cCompensation Committee Report,\u201d and \u201cExecutive Compensation\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "ITEM?12.", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS For the information required by this Item?12 with respect to beneficial ownership of our common stock, see \u201cSecurity Ownership of Certain Beneficial Owners and Management\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "The following table sets forth certain information as of December?31, 2018 regarding our equity plans :", + "|Plan Category|Number of Securitiesto be Issued UponExercise ofOutstanding Options, Warrants and Rights-1 (A)(B)|Weighted-AverageExercise Price ofOutstanding Options, Warrants and Rights|Number of SecuritiesRemaining Available forFuture Issuance UnderEquity CompensationPlans (ExcludingSecurities Reflected in Column (A)) (C)|\n|Equity compensation plans approved by security holders|1,471,449|$136.62|3,578,241|\n", + "(1) The number of securities in column (A) include 22,290 shares of common stock underlying performance stock units if maximum performance levels are achieved; the actual number of shares, if any, to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures.", + "ITEM?13.", + "CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE For the information required by this Item?13, see \u201cCertain Transactions\u201d and \u201cCorporate Governance\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "ITEM?14.", + "PRINCIPAL ACCOUNTING FEES AND SERVICES For the information required by this Item?14, see \u201cAudit and Non-Audit Fees\u201d and \u201cAudit Committee Pre-Approval Procedures\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference." + ], + "question_id": "simplong-test-20", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Income (loss) before income taxes and minority interest of As Reported in 2006 and Sales in 2003? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "because the put option was voided, we began accounting for the synthetic fuel joint ventures using the equity method of accounting.", + "Beginning March 26, 2004, as a result of adopting FIN 46(R), we have again consolidated the synthetic fuel joint ventures, and we reflect our partner\u2019s share of the operating losses as minority interest.", + "Internal Revenue Service (\u201cIRS\u201d) Placed-in-Service Challenge In July 2004, IRS field auditors issued a notice of proposed adjustment and later a Summary Report to PacifiCorp, the previous owner of the Facilities, that included a challenge to the placed-in-service dates of three of the four synthetic fuel facilities owned by one of our synthetic fuel joint ventures.", + "One of the conditions to qualify for tax credits under Section 29 of the Internal Revenue Code is that the production facility must have been placed in service before July 1, 1998.", + "We strongly believe that all the facilities meet the placed-in-service requirement.", + "Although we are engaged in discussions with the IRS and are confident this issue will be resolved in our favor and not result in a material charge to us, we cannot assure you as to the ultimate outcome of this matter.", + "If ultimately resolved against us we could be prevented from realizing projected future tax credits and cause us to reverse previously utilized tax credits, requiring payment of substantial additional taxes.", + "Since acquiring the plants, we have recognized approximately $435 million of tax credits from all four plants through December 31, 2004.", + "The tax credits recognized through December 31, 2004, associated with the three facilities in question totaled approximately $330 million.", + "On October 6, 2004, we entered into amendment agreements with our synthetic fuel partner that result in a shift in the allocation of tax credits between us.", + "On the synthetic fuel facility that is not being reviewed by the IRS, our partner increased its allocation of tax credits from approximately 50 percent to 90 percent through March 31, 2005, and pays a higher price per tax credit to us for that additional share of tax credits.", + "With respect to the three synthetic fuel facilities under IRS review, our partner reduced its allocation of tax credits from approximately 50 percent to an average of roughly 5 per\u0002cent through March 31, 2005.", + "If the IRS\u2019 placed-in-service challenge regarding the three facilities is not successfully resolved by March 31, 2005, our partner will have the right to return its ownership interest in those three facilities to us at that time.", + "We will have the flexibility to continue to operate at current levels, reduce production and/or sell an interest to another party.", + "If there is a successful resolution by March 31, 2005, our part\u0002ner\u2019s share of the tax credits from all four facilities will return to approximately 50 per\u0002cent.", + "In any event, on March 31, 2005, our share of the tax credits from the one facility not under review will return to approximately 50 percent.8 DISCONTINUED OPERATIONS Senior Living Services During 2002, we completed the sale of 41 properties for $210 million and recorded an after-tax loss of $2 million.", + "On December 30, 2002, we entered into a definitive agree\u0002ment to sell our senior living management business to Sunrise Senior Living, Inc. (\u201cSunrise\u201d) and to sell nine senior living communities to CNL Retirement Properties, Inc. (\u201cCNL\u201d) and recorded an after-tax charge of $131 million.", + "We completed the sales to Sunrise and CNL, in addition to the related sale of a parcel of land to Sunrise in March 2003, for $266 million.", + "We recorded after-tax gains of $19 million in 2003.", + "Also, on December 30, 2002, we purchased 14 senior living communities for approxi\u0002mately $15 million in cash, plus the assumption of $227 million in debt, from an unre\u0002lated owner.", + "We had previously agreed to provide a form of credit enhancement on the outstanding debt related to these communities.", + "Management approved and committed to a plan to sell these communities within 12 months.", + "As part of that plan, on March 31, 2003, we acquired all of the subordinated credit-enhanced mortgage securities relating to the 14 communities in a transaction in which we issued $46 million of unsecured Marriott International, Inc. notes, due April 2004.", + "In the 2003 third quarter, we sold the 14 communities to CNL for approximately $184 million.", + "We provided a $92 million acquisition loan to CNL in connection with the sale.", + "Sunrise currently operates, and will continue to operate, the 14 communities under long-term management agreements.", + "We recorded a gain, net of taxes, of $1 million.", + "The operating results of our senior living segment are reported in discontinued operations during the years ended January 2, 2004, and January 3, 2003, and the remaining assets and liabilities were classified as assets held for sale and liabilities of businesses held for sale, respectively, on the accompanying Consolidated Balance Sheet at January 3, 2003.", + "The following table provides additional income statement and balance sheet infor\u0002mation relating to the Senior Living Services business:", + "| ($ in millions) | 2004 |2003|2002|\n|Income Statement Summary||||\n|Sales|$\u2014|$184|$802|\n|Pre-tax income on operations|$\u2014|$11|$37|\n|Tax provision|\u2014|-4|-14|\n|Income on operations, net of tax|$\u2014|$7|$23|\n|Pre-tax gain (loss) on disposal|$\u2014|$31|$-141|\n|Tax (provision) benefit|\u2014|-12|10|\n|Gain (loss) on disposal, net of tax|$\u2014|$19|$-131|\n|Balance Sheet Summary||||\n|Property, plant and equipment|$\u2014|$\u2014|$434|\n|Goodwill|\u2014|\u2014|115|\n|Other assets|\u2014|\u2014|54|\n|Liabilities|\u2014|\u2014|317|\n", + "The tax benefit in 2002 of $10 million associated with the loss on disposal includes $45 million of additional taxes related to goodwill with no tax basis.", + "Distribution Services In the third quarter of 2002, we completed a previously announced strategic review of our Distribution Services business and decided to exit that business.", + "We completed that exit during the fourth quarter of 2002 through a combination of transferring certain facilities, closing other facilities and other suitable arrangements.", + "In the year ended", + "16 FA I R VA LU E O F F I NA N C I A L I N S T RU M E N T S We believe that the fair values of current assets and current liabilities approximate their reported carrying amounts.", + "The fair values of noncurrent financial assets, liabilities and derivatives are shown below.", + "||2004|2003|\n|($ in millions)|Carrying Amount|Fair Value|Carrying Amount|Fair Value|\n|Notes and other long-term assets|$1,702|$1,770|$1,740|$1,778|\n|Long-term debt and other long-term liabilities|$848|$875|$1,373|$1,487|\n|Derivative instruments|$\u2014|$\u2014|$-1|$-1|\n", + "We value notes and other receivables based on the expected future cash flows dis\u0002counted at risk-adjusted rates.", + "We determine valuations for long-term debt and other long-term liabilities based on quoted market prices or expected future payments dis\u0002counted at risk-adjusted rates.17 D E R I VAT I V E I N S T RU M E N T S During the year ended January 2, 2004, we entered into an interest rate swap agreement under which we receive a floating rate of interest and pay a fixed rate of interest.", + "The swap modifies our interest rate exposure by effectively converting a note receivable with a fixed rate to a floating rate.", + "The aggregate notional amount of the swap is $92 mil\u0002lion, and it matures in 2010.", + "The swap is classified as a fair value hedge, and the change in the fair value of the swap, as well as the change in the fair value of the underlying note receivable, is recognized in interest income.", + "The fair value of the swap was a liabil\u0002ity of approximately $3 million at December 31, 2004, and January 2, 2004.", + "The hedge is highly effective, and therefore, no net gain or loss was reported in earnings during the years ended December 31, 2004, and January 2, 2004.", + "At December 31, 2004, we had six outstanding interest rate swap agreements to manage interest rate risk associated with the residual interests we retain in conjunction with our timeshare note sales.", + "We are required by purchasers and/or rating agencies to utilize interest rate swaps to protect the excess spread within our sold note pools.", + "The aggregate notional amount of the swaps is $535 million, and they expire through 2022.", + "These swaps are not accounted for as hedges under FAS No.133, \u201cAccounting for Derivative Instruments and Hedging Activities.", + "\u201d The fair value of the swaps is a net asset of approximately $3 million at December 31, 2004, a net asset of approximately $1 million at January 2, 2004, and a net liability of $2 million at January 3, 2003.", + "We recorded a $2 million net gain, $3 million net gain and $21 million net loss during the years ended December 31, 2004, January 2, 2004 and January 3, 2003, respectively.", + "These expenses were largely offset by income resulting from the change in fair value of the retained interests and note sale gains in response to changes in interest rates.", + "During the years ended December 31, 2004, and January 2, 2004, we entered into interest rate swaps to manage interest rate risk associated with forecasted timeshare note sales.", + "These swaps were not accounted for as hedges under FAS No.133.", + "The swaps were terminated upon the sale of the notes and resulted in a gain of $2 million during the year ended December 31, 2004, and a loss of $4 million during the year ended January 2, 2004.", + "These amounts were largely offset by changes in the note sale gains and losses.", + "During the years ended December 31, 2004, and January 2, 2004, we entered into forward foreign exchange contracts to manage the foreign currency exposure related to certain monetary assets denominated in pounds sterling.", + "The aggregate dollar equiva\u0002lent of the notional amount of the contracts is $36 million at December 31, 2004.", + "The forward exchange contracts are not accounted for as hedges in accordance with FAS No.133.", + "The fair value of the forward contracts is approximately zero at December 31, 2004, and January 2, 2004.", + "We recorded a $3 million and $2 million net loss relating to these forward foreign exchange contracts for the years ended December 31, 2004 and January 2, 2004, respectively.", + "The net losses for both years were offset by income recorded from translating the related monetary assets denominated in pounds sterling into U. S. dollars.", + "During fiscal years 2004 and 2003, we entered into foreign exchange option and forward contracts to hedge the potential volatility of earnings and cash flows associated with variations in foreign exchange rates.", + "The aggregate dollar equivalent of the notional amounts of the contracts is $36 million at December 31, 2004.", + "These contracts have terms of less than a year and are classified as cash flow hedges.", + "Changes in their fair values are recorded as a component of other comprehensive income.", + "The fair value of the forward contracts is approximately zero and $1 million at December 31, 2004, and January 2, 2004, respectively.", + "During 2004, it was determined that certain deriva\u0002tives were no longer effective in offsetting the hedged item.", + "Thus, cash flow hedge accounting treatment was discontinued and the ineffective contracts resulted in a loss of $1 million, which was reported in earnings for fiscal year 2004.", + "The remaining hedges were highly effective and there was no net gain or loss reported in earnings for the fiscal years 2004 and 2003.", + "As of December 31, 2004, there were no deferred gains or losses accumulated in other comprehensive income that we expect to reclassify into earnings over the next 12 months.18 CONTINGENCIES Guarantees We issue guarantees to certain lenders and hotel owners primarily to obtain long-term management contracts.", + "The guarantees generally have a stated maximum amount of funding and a term of five years or less.", + "The terms of guarantees to lenders generally require us to fund if cash flows from hotel operations are inadequate to cover annual debt service or to repay the loan at the end of the term.", + "The terms of the guarantees to hotel owners generally require us to fund if the hotels do not attain specified levels of operating profit.", + "Synthetic Fuel See Footnote No.2,\u201cSynthetic Fuel,\u201d and Footnote No.18, \u201cContingencies,\u201d in this report for additional information regard\u0002ing the Synthetic Fuel segment.", + "The tables that follow detail the impact of our Synthetic Fuel segment on our income from continuing operations for 2006, 2005 and 2004.", + "Our management evaluates the figures pre\u0002sented in the \u201cBefore Syn.", + "Fuel Impact\u201d columns because man\u0002agement expects the Synthetic Fuel segment will no longer have a material impact on our business after the Internal Revenue Code synthetic fuel tax credit program expires at the end of 2007 and because the presentation reflects the results of our core Lodging operations.", + "Management also believes that these presentations facilitate the comparison of our results with the results of other lodging companies.", + "However, the figures pre\u0002sented in the \u201cBefore Syn.", + "Fuel Impact\u201d columns are non-GAAP financial measures, may be calculated and/or presented differ\u0002ently than presentations of other companies, and are not alter\u0002natives to operating income, total tax (provision) benefit, income from continuing operations, or any other operating measure prescribed by U. S. generally accepted accounting principles.2006 COMPARED TO 2005 For 2006, the synthetic fuel operation generated revenue of $165 million versus revenue of $421 million for the prior year, pri\u0002marily reflecting significantly lower production in 2006 as a result of production suspensions instituted in response to high oil prices.", + "The $76 million operating loss for 2006 includes a $5 mil\u0002lion charge reflecting the write-down of assets at the Alabama production facility as the adjacent mine was closed at year-end, and we did not anticipate operating the facility again at this loca\u0002tion.", + "Gains and other income (expense) reflects either net earn\u0002out payments received or net earn-out payments made.", + "In 2006, net earn-out payments made totaled $15 million, while in 2005 net earn-out payments received totaled $32 million.", + "Lower minority interest income primarily reflects the redemption, early in 2006, of our partner\u2019s interest in SAFE II.", + "Additionally, lower minority interest income in 2006 also reflects our buy-out in the 2006 fourth quarter of our partner\u2019s interest in SAFE I.", + "Interest costs in 2006 of $4 million reflect the cost of hedges entered into during 2006 in response to high oil prices and the uncertainty surrounding the potential phase-out of tax credits.", + "Income from continuing operations for the Synthetic Fuel segment declined from $125 million in 2005 to $5 million in 2006, primarily as a result of both lower production in 2006 and the estimated 39 percent phase-out of tax credits due to high oil prices in 2006.", + "The table below details the impact of our Synthetic Fuel segment on our continuing operations for 2006 and 2005", + "||2006|2005|\n| ($ in millions)|As Reported|Syn. Fuel Impact|Before Syn. Fuel Impact|As Reported|Syn. Fuel Impact|Before Syn. Fuel Impact|\n|Operating income (loss)|$1,011|$-76|$1,087|$555|$-144|$699|\n|Gains and other income (expense)|59|-15|74|181|32|149|\n|Interest income, provision for loan losses and interest expense|-76|-4|-72|-55|\u2014|-55|\n|Equity in earnings (losses)|3|\u2014|3|36|\u2014|36|\n|Income (loss) before income taxes and minority interest|997|-95|1,092|717|-112|829|\n|Tax (provision) benefit|-348|32|-380|-261|23|-284|\n|Tax credits|62|62|\u2014|167|167|\u2014|\n|Total tax (provision) benefit|-286|94|-380|-94|190|-284|\n|Income from continuing operations before minority interest|711|-1|712|623|78|545|\n|Minority interest|6|6|\u2014|45|47|-2|\n|Income from continuing operations|$717|$5|$712|$668|$125|$543|\n", + "2005 COMPARED TO 2004 For 2005, the synthetic fuel operation generated revenue of $421 million versus revenue of $321 million for the prior year, primarily due to the consolidation of our synthetic fuel opera\u0002tions from the start of the 2004 second quarter, which resulted in the recognition of revenue for the entire 2005 year compared with only three quarters in 2004, as we accounted for the syn\u0002thetic fuel operations using the equity method of accounting in the 2004 first quarter.", + "The $18 million increase in synthetic fuel income from con\u0002tinuing operations to $125 million from $107 million in 2004 is primarily due to our increased proportion of tax credits through May 31, 2005, associated with the SAFE II facilities that were then under IRS review and higher gains and other income, partially offset by our decreased proportion of tax credits through March 31, 2005, associated with the SAFE I facility that was not under IRS review.", + "In addition, in 2005 pro\u0002duction was slightly lower and raw materials prices were higher than in 2004.", + "Gains and other income represents net earn-out payments received.", + "Minority interest increased from a benefit of $40 million in 2004 to a benefit of $47 million in 2005, primarily as a result of the change in the method of accounting for our synthetic fuel operations.", + "For 2004, minority interest reflects our partner\u2019s share of the synthetic fuel losses from March 26, 2004 (when we began consolidating the ven\u0002tures due to the adoption of FIN 46(R)) through year-end.", + "For 2005, minority interest represents our partner\u2019s share of the synthetic fuel losses for the entire year." + ], + "question_id": "simplong-test-21", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much square feet could the company use to build properies ? ( 1 acre = 43560 square feet )", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 2: Properties Information concerning Applied\u2019s properties is set forth below:", + "|(Square feet in thousands)|United States|Other Countries|Total|\n|Owned|3,964|1,652|5,616|\n|Leased|845|1,153|1,998|\n|Total|4,809|2,805|7,614|\n", + "Because of the interrelation of Applied\u2019s operations, properties within a country may be shared by the segments operating within that country.", + "The Company\u2019s headquarters offices are in Santa Clara, California.", + "Products in Semiconductor Systems are manufactured in Santa Clara, California; Austin, Texas; Gloucester, Massachusetts; Kalispell, Montana; Rehovot, Israel; and Singapore.", + "Remanufactured equipment products in the Applied Global Services segment are produced primarily in Austin, Texas.", + "Products in the Display and Adjacent Markets segment are manufactured in Alzenau, Germany; and Tainan, Taiwan.", + "Other products are manufactured in Treviso, Italy.", + "Applied also owns and leases offices, plants and warehouse locations in many locations throughout the world, including in Europe, Japan, North America (principally the United States), Israel, China, India, Korea, Southeast Asia and Taiwan.", + "These facilities are principally used for manufacturing; research, development and engineering; and marketing, sales and customer support.", + "Applied also owns a total of approximately 269 acres of buildable land in Montana, Texas, California, Israel and Italy that could accommodate additional building space.", + "Applied considers the properties that it owns or leases as adequate to meet its current and future requirements.", + "Applied regularly assesses the size, capability and location of its global infrastructure and periodically makes adjustments based on these assessments.", + "General and administrative expense, which excludes integration charges, decreased $42 million, or 3%, to $1.2 billion for the year ended December 31, 2012 compared to $1.3 billion for the prior year primarily due to continued expense controls, partially offset by an increase of approximately $19 million related to higher performance fee-related compensation.", + "Annuities Our Annuities segment provides variable and fixed annuity products of RiverSource Life companies to individual clients.", + "We provide our variable annuity products through our advisors, and fixed annuity products are provided through both affiliated and unaffiliated advisors and financial institutions.", + "Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows.", + "Revenues for our fixed annuity products are primarily earned as net investment income on assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances.", + "We also earn net investment income on owned assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business.", + "Intersegment revenues for this segment reflect fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of variable insurance trust funds (\u2018\u2018VIT Funds\u2019\u2019) under the variable annuity contracts.", + "Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.", + "The following table presents the results of operations of our Annuities segment on an operating basis:", + "| | Years Ended December 31,|||\n| | 2012| 2011|Change|\n| |(in millions)|\n| Revenues|||||\n|Management and financial advice fees|$648|$622|$26|4%|\n|Distribution fees|317|312|5|2|\n|Net investment income|1,132|1,279|-147|-11|\n|Premiums|118|161|-43|-27|\n|Other revenues|309|256|53|21|\n|Total revenues|2,524|2,630|-106|-4|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|2,524|2,630|-106|-4|\n| Expenses|||||\n|Distribution expenses|395|400|-5|-1|\n|Interest credited to fixed accounts|688|714|-26|-4|\n|Benefits, claims, losses and settlement expenses|419|405|14|3|\n|Amortization of deferred acquisition costs|229|264|-35|-13|\n|Interest and debt expense|2|1|1|NM|\n|General and administrative expense|224|221|3|1|\n|Total expenses|1,957|2,005|-48|-2|\n|Operating earnings|$567|$625|$-58|-9%|\n", + "NM Not Meaningful.", + "Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed living benefits (net of hedges and the related DSIC and DAC amortization), decreased $58 million, or 9%, to $567 million for the year ended December 31, 2012 compared to $625 million for the prior year primarily due to a decline in net investment income and an unfavorable impact from unlocking and model changes, partially offset by the market impact on DAC and DSIC, lower interest credited to fixed accounts and higher fee revenues.", + "Results for 2011 included $34 million of additional bond discount accretion investment income related to prior periods resulting from revisions to the accounting classification of certain structured securities, net of DAC and DSIC amortization.", + "The impact of unlocking and model changes was a decrease to pretax operating income of $11 million in 2012 compared to an increase of $1 million in the prior year.", + "The impact of unlocking and model changes for 2012 included a $43 million benefit, net of DAC and DSIC amortization, from an adjustment to the model which values the reserves related to living benefit guarantees primarily attributable to prior periods.", + "This revision aligns the model to more accurately reflect best estimate assumptions for living benefit utilization going forward.", + "The market impact on DAC and DSIC was a benefit of $29 million in 2012 compared to an expense of $10 million in the prior year.", + "RiverSource variable annuity account balances increased 9% to $68.1 billion at December 31, 2012 compared to the prior year driven by market appreciation.", + "Variable annuity net outflows of $457 million in 2012 reflected the closed book", + "Note 5.", + "Long-Term Obligations Long-Term Obligations consist of the following (in thousands):", + "||December 31,|\n||2012|2011|\n|Senior secured credit agreement:|||\n|Term loans payable|$420,625|$240,625|\n|Revolving credit facility|553,964|660,730|\n|Receivables securitization facility|80,000|\u2014|\n|Notes payable through October 2018 at weighted average interest rates of 1.7% and 2.0%, respectively|42,398|38,338|\n|Other long-term debt at weighted average interest rates of 3.3% and 3.2%, respectively|21,491|16,383|\n||1,118,478|956,076|\n|Less current maturities|-71,716|-29,524|\n||$1,046,762|$926,552|\n", + "The scheduled maturities of long-term obligations outstanding at December 31, 2012 are as follows (in thousands):" + ], + "question_id": "simplong-test-22", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Group Retirement Products*, what is the growth rate of Individual Fixed Annuities ? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "2010 and 2009 Comparison Surrender rates have improved compared to the prior year for group retirement products, individual fixed annuities and individual variable annuities as surrenders have returned to more normal levels.", + "Surrender rates for individual fixed annuities have decreased significantly in 2010 due to the low interest rate environment and the relative competitiveness of interest credited rates on the existing block of fixed annuities versus interest rates on alternative investment options available in the marketplace.", + "Surrender rates for group retirement products are expected to increase in 2011 as certain large group surrenders are anticipated.2009 and 2008 Comparison Surrenders and other withdrawals increased in 2009 for group retirement products primarily due to higher large group surrenders.", + "However, surrender rates and withdrawals have improved for individual fixed annuities and individual variable annuities.", + "The following table presents reserves by surrender charge category and surrender rates:", + "| |2010| 2009|\n| At December 31, (in millions) |Group Retirement Products*|Individual Fixed Annuities|Individual Variable Annuities|Group Retirement Products*|Individual Fixed Annuities|Individual Variable Annuities |\n|No surrender charge|$52,742|$14,006|$11,859|$47,854|$11,444|$11,161|\n|0% - 2%|1,292|3,510|4,083|1,509|3,054|4,094|\n|Greater than 2% - 4%|1,754|5,060|2,040|1,918|5,635|2,066|\n|Greater than 4%|2,753|22,777|7,361|3,213|23,885|6,758|\n|Non-Surrenderable|792|3,136|238|850|3,184|558|\n|Total reserves|$59,333|$48,489|$25,581|$55,344|$47,202|$24,637|\n|Surrender rates|10.3%|7.4%|11.4%|12.3%|14.4%|12.1%|\n", + "* Excludes mutual funds of $9.0 billion and $8.1 billion in 2010 and 2009, respectively.", + "Financial Services Operations AIG\u2019s Financial Services subsidiaries engage in diversified activities including commercial aircraft leasing and the remaining Capital Markets portfolios, which are conducted through ILFC and AIGFP, respectively.", + "Following the classification of AGF as discontinued operations in the third quarter of 2010 (see Note 4 to the Consolidated Financial Statements), AIG\u2019s remaining consumer finance businesses are now reported in AIG\u2019s Other operations category as part of Divested businesses.", + "As discussed in Note 3 to the Consolidated Financial Statements, in order to align financial reporting with changes made during the third quarter of 2010 to the manner in which AIG\u2019s chief operating decision makers review the businesses to make decisions about resources to be allocated and to assess performance, changes were made to AIG\u2019s segment information.", + "During the third quarter of 2010, AIG\u2019s Asset Management Group undertook the management responsibilities for non-derivative assets and liabilities of the Capital Markets\u2019 businesses of the Financial Services segment.", + "These assets and liabilities are being managed on a spread basis, in concert with the MIP.", + "Accordingly, gains and losses related to these assets and liabilities, primarily consisting of credit valuation adjustment gains and losses are reported in AIG\u2019s Other operations category as part of Asset Management \u2014 Direct Investment business.", + "Also, intercompany interest related to loans from AIG Funding Inc. (AIG Funding) to AIGFP is no longer being allocated to Capital Markets from Other operations.", + "The remaining Capital Markets derivatives business continues to be reported in the Financial Services segment as part of Capital Markets results.", + "American International Group, Inc. , and Subsidiaries solely for illustrative purposes.", + "The selection of these specific events should not be construed as a prediction, but only as a demonstration of the potential effects of such events.", + "These scenarios should not be construed as the only risks AIG faces; these events are shown as an indication of several possible losses AIG could experience.", + "In addition, losses from these and other risks could be materially higher than illustrated.", + "The sensitivity factors utilized for 2010 and presented above were selected based on historical data from 1990 to 2010, as follows (see the table below): ?", + "a 100 basis point parallel shift in the yield curve is broadly consistent with a one standard deviation movement of the benchmark ten-year treasury yield; ?", + "a 20 percent drop for equity and alternative investments is broadly consistent with a one standard deviation movement in the S&P 500; and ?", + "a 10 percent depreciation of foreign currency exchange rates is consistent with a one standard deviation movement in the U. S. dollar (USD)/Japanese Yen (JPY) exchange rate.", + "||Period|StandardDeviation|Suggested2010Scenario|2010 Scenarioas aMultiple ofStandardDeviation|2010 Change/ Return|2010 as aMultiple ofStandardDeviation|Original2009 Scenario(based onStandardDeviation for1989-2009Period)|\n|10-Year Treasury|1990-2010|0.01|0.01|1.01|-0.01|0.56|0.01|\n|S&P 500|1990-2010|0.19|0.20|1.05|0.13|0.67|0.20|\n|USD/JPY|1990-2010|0.11|0.10|0.92|0.15|1.34|0.10|\n", + "Operational Risk Management AIG\u2019s Operational Risk Management department (ORM) oversees AIG\u2019s operational risk management practices.", + "The Director of ORM reports to the CRO.", + "ORM is responsible for establishing and maintaining the framework, principles and guidelines of AIG\u2019s operational risk management program.", + "Each business unit is responsible for its operational risks and implementing the components of the operational risk management program to effectively identify, assess, monitor and mitigate such risks.", + "This responsibility includes developing and implementing policies, procedures, management oversight processes, and other governance-related activities consistent with AIG\u2019s overall operational risk management process.", + "Senior operational risk executives in the businesses report to the Director of ORM and to business management.", + "This reporting structure facilitates development of business-specific knowledge of operational risk matters, while at the same time maintaining company-wide consistency in AIG\u2019s overall approach to operational risk management.", + "A strong operational risk management program facilitates escalation and resolution of operational risk issues.", + "In order to accomplish this, AIG\u2019s operational risk management program is designed to: ?", + "pro-actively address potential operational risk issues; ?", + "create transparency at all levels of the organization; and ?", + "assign clear ownership and accountability for addressing identified issues.", + "As part of the operational risk management framework, AIG has implemented a risk and control self assessment (RCSA) process.", + "The RCSA process is used to identify key operational risks and evaluate the effectiveness of existing controls to mitigate those risks.", + "Corrective action plans are developed to address any identified issues.", + "In 2010, business units continued to enhance their RCSA processes to perform more robust risk assessments.", + "American International Group, Inc. , and Subsidiaries AIG\u2019s consolidated risk target is to maintain a minimum liquidity buffer such that AIG Parent\u2019s liquidity needs under the ERM stress scenarios do not exceed 80 percent of AIG Parent\u2019s overall liquidity sources over the specified two-year horizon.", + "If the 80 percent minimum threshold is projected to be breached over this defined time horizon, AIG will take appropriate actions to further increase liquidity sources or reduce liquidity needs to maintain the target threshold, although no assurance can be given that this would be possible under then-prevailing market conditions.", + "AIG expects to enter into additional capital maintenance agreements with its U. S. insurance companies to manage the flow of capital and funds between AIG Parent and the insurance companies.", + "As a result of these ERM stress tests, AIG believes that it has sufficient liquidity at the AIG Parent level to satisfy future liquidity requirements and meet its obligations, including reasonably foreseeable contingencies or events.", + "See further discussion regarding AIG Parent and subsidiary liquidity considerations in Liquidity of Parent and Subsidiaries below.", + "Analysis of sources and uses of cash The following table presents selected data from AIG\u2019s Consolidated Statement of Cash Flows:", + "| Years Ended December 31, (in millions) |2010|2009|2008|\n|Summary:||||\n|Net cash provided by (used in) operating activities|$16,910|$18,584|$-122|\n|Net cash provided by (used in) investing activities|-10,225|5,778|47,176|\n|Net cash used in financing activities|-9,261|-28,997|-40,734|\n|Effect of exchange rate changes on cash|39|533|38|\n|Change in cash|-2,537|-4,102|6,358|\n|Cash at beginning of year|4,400|8,642|2,284|\n|Reclassification of assets held for sale|-305|-140|-|\n|Cash at end of year|$1,558|$4,400|$8,642|\n", + "Net cash provided by operating activities was positive for both 2010 and 2009 compared to negative in 2008, principally due to positive cash flows from AIG\u2019s life insurance subsidiaries.", + "Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits, but the ability of Chartis to generate positive cash flow is affected by operating expenses, the frequency and severity of losses under its insurance policies and policy retention rates.", + "Cash provided by Chartis operations was $1.9 billion for 2010 compared to $2.8 billion in 2009 as a reduction in claims paid was more than offset by declines in premiums collected, arising primarily from a decrease in domestic production.", + "Catastrophic events and significant casualty losses, the timing and effect of which are inherently unpredictable, reduce operating cash flow for Chartis operations.", + "Cash provided by AIG\u2019s life insurance subsidiaries, including entities presented as discontinued operations, was $15.5 billion for 2010 compared to $9.1 billion in 2009 as growth in international markets was partially offset by a decrease in cash flows from domestic operations.", + "Cash flows provided from Financial Services including entities presented as discontinued operations were $1.4 billion and $5.4 billion for 2010 and 2009, respectively.", + "The decrease can be attributed in part to the continued wind-down of AIGFP\u2019s businesses and portfolio.", + "Cash provided by Chartis was $2.8 billion for 2009 compared to $4.8 billion in 2008 as a reduction in claims paid was more than offset by reduced premiums collected.", + "Cash provided by life insurance operations, including entities presented as discontinued operations, was $9.1 billion for 2009 compared to $22 billion in 2008.", + "Reduced cash flows were primarily driven by the continuing impact of the negative events during the second half of 2008.", + "Cash provided from Financial Services, including entities presented as discontinued operations, was $5.4 billion for 2009 compared to $28.9 billion operating cash outflows in 2008, primarily related to collateral posting requirements.", + "Although many clients use both active and passive strategies, the application of these strategies differs greatly.", + "For example, clients may use index products to gain exposure to a market or asset class pending reallocation to an active manager.", + "This has the effect of increasing turnover of index AUM.", + "In addition, institutional non-ETP index assignments tend to be very large (multi\u0002billion dollars) and typically reflect low fee rates.", + "This has the potential to exaggerate the significance of net flows in institutional index products on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2012 equity AUM of $1.845 trillion increased by $285.4 billion, or 18%, from the end of 2011, largely due to flows into regional, country-specific and global mandates and the effect of higher market valuations.", + "Equity AUM growth included $54.0 billion in net new business and $3.6 billion in new assets related to the acquisition of Claymore.", + "Net new business of $54.0 billion was driven by net inflows of $53.0 billion and $19.1 billion into iShares and non-ETP index accounts, respectively.", + "Passive inflows were offset by active net outflows of $18.1 billion, with net outflows of $10.0 billion and $8.1 billion from fundamental and scientific active equity products, respectively.", + "Passive strategies represented 84% of equity AUM with the remaining 16% in active mandates.", + "Institutional investors represented 62% of equity AUM, while iShares, and retail and HNW represented 29% and 9%, respectively.", + "At year-end 2012, 63% of equity AUM was managed for clients in the Americas (defined as the United States, Caribbean, Canada, Latin America and Iberia) compared with 28% and 9% managed for clients in EMEA and Asia-Pacific, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s 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 tandem with U. S. markets, may have a greater impact on BlackRock\u2019s effective equity fee rates and revenues.", + "Fixed Income Fixed income AUM ended 2012 at $1.259 trillion, rising $11.6 billion, or 1%, relative to December 31, 2011.", + "Growth in AUM reflected $43.3 billion in net new business, excluding the two large previously mentioned low-fee outflows, $75.4 billion in market and foreign exchange gains and $3.0 billion in new assets related to Claymore.", + "Net new business was led by flows into domestic specialty and global bond mandates, with net inflows of $28.8 billion, $13.6 billion and $3.1 billion into iShares, non-ETP index and model-based products, respectively, partially offset by net outflows of $2.2 billion from fundamental strategies.", + "Fixed Income AUM was split between passive and active strategies with 48% and 52%, respectively.", + "Institutional investors represented 74% of fixed income AUM while iShares and retail and HNW represented 15% and 11%, respectively.", + "At year-end 2012, 59% of fixed income AUM was managed for clients in the Americas compared with 33% and 8% managed for clients in EMEA and Asia\u0002Pacific, respectively.", + "Multi-Asset Class Component Changes in Multi-Asset Class AUM" + ], + "question_id": "simplong-test-23", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Residential mortgage in the years with the least Home equity \uff1f", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) for 2017 and 2016, respectively:", + "||Level 3|\n|Balance as of January 1, 2017|$140|\n|Actual return on assets|2|\n|Purchases, issuances and settlements, net|136|\n|Balance as of December 31, 2017|$278|\n", + "The Company\u2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts.", + "The investments and risk mitigation strategies for the plans are tailored specifically for each trust.", + "In setting new strategic asset mixes, consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the Company.", + "The Company periodically updates the long-term, strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation.", + "Considerations include plan liability characteristics, liquidity needs, funding requirements, expected rates of return and the distribution of returns.", + "Strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and, within asset classes, strategies are employed to provide adequate returns, diversification and liquidity.", + "In 2012, the Company implemented a de-risking strategy for the American Water Pension Plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan.", + "As part of the de-risking strategy, the Company revised the asset allocations to increase the matching characteristics of fixed-income assets relative to liabilities.", + "The fixed income portion of the portfolio was designed to match the bond-like and long-dated nature of the postretirement liabilities.", + "In 2017, the Company further increased its exposure to liability-driven investing and increased its fixed-income allocation to 50%, up from 40%, in an effort to further decrease the funded status volatility of the plan and hedge the portfolio from movements in interest rates.", + "In 2012, the Company also implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility.", + "In 2017, the Company conducted a new asset-liability study that indicated medical trend inflation that outpaced the Consumer Price Index by more than 2% for the last 20 years.", + "Given continuously rising medical costs, the Company decided to increase the equity exposure of the portfolio to 30%, up from 20%, while reducing the fixed-income portion of the portfolio from 80% to 70%.", + "The Company also conducted an asset-liability study for the Post-Retirement Non-Bargaining Medical Plan.", + "Its allocation was adjusted to make it more conservative, reducing the equity allocation from 70% to 60% and increasing the fixed\u0002income allocation from 30% to 40%.", + "The Post-Retirement Medical Non-Bargaining plan\u2019s equity allocation was reduced due to the cap on benefits for some non-union participants and resultant reduction in the plan\u2019s liabilities.", + "These changes will take place in 2018.", + "The Company engages third party investment managers for all invested assets.", + "Managers are not permitted to invest outside of the asset class (e. g. fixed income, equity, alternatives) or strategy for which they have been appointed.", + "Investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided.", + "Futures and options may be used to adjust portfolio duration to align with a plan\u2019s targeted investment policy", + "Table VIII Allocation of the Allowance for Credit Losses by Product Type", + "||December 31|\n||2013|2012|2011|2010|2009|\n|(Dollars in millions)|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|\n|Allowance for loan and lease losses|||||||||||\n|Residential mortgage|$4,084|23.43%|$7,088|29.31%|$7,985|23.64%|$6,365|15.20%|$5,640|15.17%|\n|Home equity|4,434|25.44|7,845|32.45|13,094|38.76|12,887|30.77|10,116|27.19|\n|U.S. credit card|3,930|22.55|4,718|19.51|6,322|18.71|10,876|25.97|6,017|16.17|\n|Non-U.S. credit card|459|2.63|600|2.48|946|2.80|2,045|4.88|1,581|4.25|\n|Direct/Indirect consumer|417|2.39|718|2.97|1,153|3.41|2,381|5.68|4,227|11.36|\n|Other consumer|99|0.58|104|0.43|148|0.44|161|0.38|204|0.55|\n|Total consumer|13,423|77.02|21,073|87.15|29,648|87.76|34,715|82.88|27,785|74.69|\n|U.S. commercial-1|2,394|13.74|1,885|7.80|2,441|7.23|3,576|8.54|5,152|13.85|\n|Commercial real estate|917|5.26|846|3.50|1,349|3.99|3,137|7.49|3,567|9.59|\n|Commercial lease financing|118|0.68|78|0.32|92|0.27|126|0.30|291|0.78|\n|Non-U.S. commercial|576|3.30|297|1.23|253|0.75|331|0.79|405|1.09|\n|Total commercial-2|4,005|22.98|3,106|12.85|4,135|12.24|7,170|17.12|9,415|25.31|\n|Allowance for loan and lease losses|17,428|100.00%|24,179|100.00%|33,783|100.00%|41,885|100.00%|37,200|100.00%|\n|Reserve for unfunded lending commitments|484||513||714||1,188||1,487||\n|Allowance for credit losses-3|$17,912||$24,692||$34,497||$43,073||$38,687||\n", + "(1) Includes allowance for loan and lease losses for U. S. small business commercial loans of $462 million, $642 million, $893 million, $1.5 billion and $2.4 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(2) Includes allowance for loan and lease losses for impaired commercial loans of $277 million, $475 million, $545 million, $1.1 billion and $1.2 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(3) Includes $2.5 billion, $5.5 billion, $8.5 billion, $6.4 billion and $3.9 billion of valuation allowance included as part of the allowance for credit losses related to PCI loans at December 31, 2013, 2012, 2011, 2010 and 2009, respectively", + "At December 31, 2012, we had $3.7 billion in consolidated cash and $3.5 billion in long-term debt.", + "In February 2012, we sold $3.0 billion in senior notes in three tranches with a weighted average interest rate of approximately three percent.", + "We used the proceeds from this offering, plus cash on hand, to redeem the remaining $3.0 billion of our 8.375% Senior Notes.", + "Refer to \u201cCapital Resources and Liquidity \u2014 Financing Activities\u201d and to Note 9 for further discussion of these transactions.", + "In February 2013, we entered into a new senior unsecured revolving credit facility, which will refinance and replace our existing revolving credit facility upon completion of the proposed acquisition of PXP.", + "No amounts are currently available to us under the new revolving credit facility.", + "Refer to Note 20 for further discussion.", + "In February 2012, our Board of Directors (the Board) authorized an increase in the cash dividend on our common stock to an annual rate of $1.25 per share ($0.3125 per share quarterly), and we paid dividends on our common stock totaling $1.1 billion in 2012.", + "Refer to Note 11 for further discussion.", + "At current copper prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects and return cash to shareholders through dividends on our common stock.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the years ended December 31, 2012, 2011 and 2010.", + "OUTLOOK We view the long-term outlook for our business positively, supported by limitations on supplies of copper and by the requirements for copper in the world\u2019s economy.", + "We will continue to adjust our operating strategy as market conditions change.", + "Our financial results vary as a result of fluctuations in market prices for copper, gold and molybdenum and other factors.", + "World market prices for these commodities have fluctuated historically and are affected by numerous factors beyond our control.", + "Because we cannot control the price of our products, the key measures that management focuses on in operating our business are sales volumes, unit net cash costs and operating cash flow.", + "Discussion of the outlook for each of these measures follows.", + "Sales Volumes.", + "Following are our projected consolidated sales volumes for 2013 and actual consolidated sales volumes for 2012:", + "||2013 (Projected)||2012 (Actual)|\n|Copper(millions of recoverable pounds):||||\n|North America copper mines|1,445||1,351|\n|South America mining|1,325||1,245|\n|Indonesia mining|1,120||716|\n|Africa mining|410||336|\n||4,300||3,648|\n|Gold(thousands of recoverable ounces):||||\n|Indonesia mining|1,240||915|\n|North and South America mining|140||95|\n||1,380||1,010|\n|Molybdenum(millions of recoverable pounds)|90|a|83|\n", + "a.", + "Includes projected sales of 40 million pounds of molybdenum produced at our North and South America copper mines.", + "Projected copper sales for 2013 are expected to be higher than 2012 sales primarily reflecting access to higher grade ore in Indonesia and South America and higher production in North America and Africa.", + "Projected 2013 gold sales volumes are expected to be higher than 2012, primarily reflecting higher ore grades at Grasberg.", + "Molybdenum sales in 2013 are expected to be higher than 2012, primarily reflecting higher production from our Climax molybdenum mine.", + "Projected sales volumes are dependent on a number of factors, including achievement of targeted mining rates, the successful operation of production facilities, the impact of weather conditions and other factors.", + "Unit Net Cash Costs.", + "We expect to gain access to higher grade ore at Grasberg in late 2013, which will result in higher copper and gold production volumes (approximately 29 percent of 2013 consolidated copper sales volumes and 37 percent of consolidated gold sales volumes are expected in fourth-quarter 2013).", + "Quarterly unit net cash costs vary with fluctuations in sales volumes and average realized prices for gold and molybdenum, and are expected to be lower in late 2013 as we gain access to higher grade ore at Grasberg.", + "Assuming average prices of $1,700 per ounce of gold and $11 per pound of molybdenum and achievement of current 2013 sales volume and cost estimates, consolidated unit net cash costs (net of by-product credits) are expected to average $1.35 per pound in 2013.", + "The impact of price changes in 2013 on consolidated unit net cash costs would approximate $0.015 per pound for each $50 per ounce change in the average price of gold and $0.015 per pound for each $2 per pound change in the average price of molybdenum.", + "Refer to \u201cConsolidated Results \u2013 Production and Delivery Costs\u201d for further discussion of consolidated production and delivery costs.", + "Operating Cash Flows.", + "Our operating cash flows vary with prices realized from copper, gold and molybdenum sales, our sales volumes, production costs, income taxes and other working capital changes and other factors.", + "Based on current sales volume and cost estimates and assuming average prices of $3.65 per", + "Net Operating Revenues Year Ended December 31, 2014 versus Year Ended December 31, 2013 The Company\u2019s net operating revenues decreased $856 million, or 2 percent.", + "The following table illustrates, on a percentage basis, the estimated impact of key factors resulting in the increase (decrease) in net operating revenues for each of our operating segments:" + ], + "question_id": "simplong-test-24", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of the Financial standby letters of credit in the years where Benefit plans-3 is less than -6,250 (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "7.", + "INCENTIVE PLANS Discretionary Annual Incentive Awards Citigroup grants immediate cash bonus payments and various forms of immediate and deferred awards as part of its discretionary annual incentive award program involving a large segment of Citigroup\u2019s employees worldwide.", + "Most of the shares of common stock issued by Citigroup as part of its equity compensation programs are to settle the vesting of the stock components of these awards.", + "Discretionary annual incentive awards are generally awarded in the first quarter of the year based on the previous year\u2019s performance.", + "Awards valued at less than U. S. $100,000 (or the local currency equivalent) are generally paid entirely in the form of an immediate cash bonus.", + "Pursuant to Citigroup policy and/or regulatory requirements, certain employees and officers are subject to mandatory deferrals of incentive pay and generally receive 25%\u2013 60% of their awards in a combination of restricted or deferred stock, deferred cash stock units or deferred cash.", + "Discretionary annual incentive awards to many employees in the EU are subject to deferral requirements regardless of the total award value, with at least 50% of the immediate incentive delivered in the form of a stock payment award subject to a restriction on sale or transfer (generally, for 12 months).", + "Deferred annual incentive awards may be delivered in the form of one or more award types: a restricted or deferred stock award under Citi\u2019s Capital Accumulation Program (CAP), or a deferred cash stock unit award and/or a deferred cash award under Citi\u2019s Deferred Cash Award Plan.", + "The applicable mix of awards may vary based on the employee\u2019s minimum deferral requirement and the country of employment.", + "Subject to certain exceptions (principally, for retirement-eligible employees), continuous employment within Citigroup is required to vest in CAP, deferred cash stock unit and deferred cash awards.", + "Post employment vesting by retirement-eligible employees and participants who meet other conditions is generally conditioned upon their refraining from competition with Citigroup during the remaining vesting period, unless the employment relationship has been terminated by Citigroup under certain conditions.", + "Generally, the deferred awards vest in equal annual installments over three- or four-year periods.", + "Vested CAP awards are delivered in shares of common stock.", + "Deferred cash awards are payable in cash and, except as prohibited by applicable regulatory guidance, earn a fixed notional rate of interest that is paid only if and when the underlying principal award amount vests.", + "Deferred cash stock unit awards are payable in cash at the vesting value of the underlying stock.", + "Generally, in the EU, vested CAP shares are subject to a restriction on sale or transfer after vesting, and vested deferred cash awards and deferred cash stock units are subject to hold back (generally, for 12 months in each case).", + "Unvested CAP, deferred cash stock units and deferred cash awards are subject to one or more clawback provisions that apply in certain circumstances, including gross misconduct.", + "CAP and deferred cash stock unit awards, made to certain employees, are subject to a formulaic performance\u0002based vesting condition pursuant to which amounts otherwise scheduled to vest will be reduced based on the amount of any pretax loss in the participant\u2019s business in the calendar year preceding the scheduled vesting date.", + "A minimum reduction of 20% applies for the first dollar of loss for CAP and deferred cash stock unit awards.", + "In addition, deferred cash awards are subject to a discretionary performance-based vesting condition under which an amount otherwise scheduled to vest may be reduced in the event of a \u201cmaterial adverse outcome\u201d for which a participant has \u201csignificant responsibility.", + "\u201d These awards are also subject to an additional clawback provision pursuant to which unvested awards may be canceled if the employee engaged in misconduct or exercised materially imprudent judgment, or failed to supervise or escalate the behavior of other employees who did.", + "Sign-on and Long-Term Retention Awards Stock awards and deferred cash awards may be made at various times during the year as sign-on awards to induce new hires to join Citi or to high\u0002potential employees as long-term retention awards.", + "Vesting periods and other terms and conditions pertaining to these awards tend to vary by grant.", + "Generally, recipients must remain employed through the vesting dates to vest in the awards, except in cases of death, disability or involuntary termination other than for gross misconduct.", + "These awards do not usually provide for post employment vesting by retirement-eligible participants.", + "Outstanding (Unvested) Stock Awards A summary of the status of unvested stock awards granted as discretionary annual incentive or sign-on and long-term retention awards is presented below:", + "|Unvested stock awards|Shares|Weighted-average grantdate fairvalue per share|\n|Unvested at December 31, 2017|36,931,040|$47.89|\n|Granted-1|12,896,599|73.87|\n|Canceled|-1,315,456|54.50|\n|Vested-2|-16,783,587|49.54|\n|Unvested at December 31, 2018|31,728,596|$57.30|\n", + "(1) The weighted-average fair value of the shares granted during 2017 and 2016 was $59.12 and $37.35, respectively.", + "(2) The weighted-average fair value of the shares vesting during 2018 was approximately $77.65 per share.", + "Total unrecognized compensation cost related to unvested stock awards was $538 million at December 31, 2018.", + "The cost is expected to be recognized over a weighted-average period of 1.7 years.", + "19.", + "CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) Changes in each component of Citigroup\u9225\u6a9a Accumulated other comprehensive income (loss) were as follows:", + "|In millions of dollars|Netunrealizedgains (losses)on investment securities|Debt valuation adjustment (DVA)(1)|Cash flow hedges-2|Benefit plans-3|Foreigncurrencytranslationadjustment (CTA), net of hedges(4)|Excluded component of fair value hedges-5|Accumulatedothercomprehensive income (loss)|\n|Balance, December 31, 2015|$-907|$\u2014|$-617|$-5,116|$-22,704|$\u2014|$-29,344|\n|Adjustment to opening balance, netof taxes-1|$\u2014|$-15|$\u2014|$\u2014|$\u2014|$\u2014|$-15|\n|Adjusted balance, beginning of period|$-907|$-15|$-617|$-5,116|$-22,704|$\u2014|$-29,359|\n|Other comprehensive income beforereclassifications|$531|$-335|$-88|$-208|$-2,802|$\u2014|$-2,902|\n|Increase (decrease) due to amountsreclassified from AOCI|-423|-2|145|160|\u2014|\u2014|-120|\n|Change, net of taxes|$108|$-337|$57|$-48|$-2,802|$\u2014|$-3,022|\n|Balance, December 31, 2016|$-799|$-352|$-560|$-5,164|$-25,506|$\u2014|$-32,381|\n|Adjustment to opening balance, netof taxes-6|$504|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$504|\n|Adjusted balance, beginning of period|$-295|$-352|$-560|$-5,164|$-25,506|$\u2014|$-31,877|\n|Impact of Tax Reform-7|-223|-139|-113|-1,020|-1,809|\u2014|-3,304|\n|Other comprehensive income before reclassifications|-186|-426|-111|-158|1,607|\u2014|726|\n|Increase (decrease) due to amounts reclassified from AOCI|-454|-4|86|159|\u2014|\u2014|-213|\n|Change, net of taxes|$-863|$-569|$-138|$-1,019|$-202|$\u2014|$-2,791|\n|Balance at December 31, 2017|$-1,158|$-921|$-698|$-6,183|$-25,708|$\u2014|$-34,668|\n|Adjustment to opening balance, netof taxes-8|-3|\u2014|\u2014|\u2014|\u2014|\u2014|-3|\n|Adjusted balance, beginning of period|$-1,161|$-921|$-698|$-6,183|$-25,708|$\u2014|$-34,671|\n|Other comprehensive income beforereclassifications|-866|1,081|-135|-240|-2,607|-57|-2,824|\n|Increase (decrease) due to amountsreclassified from AOCI(9)|-223|32|105|166|245|\u2014|325|\n|Change, net of taxes|$-1,089|$1,113|$-30|$-74|$-2,362|$-57|$-2,499|\n|Balance at December 31, 2018|$-2,250|$192|$-728|$-6,257|$-28,070|$-57|$-37,170|\n", + "(1)Changes in DVA are reflected as a component of AOCI, pursuant to the adoption of only the provisions of ASU 2016-01 relating to the presentation of DVA on fair value option liabilities.", + "See Note 1 to the Consolidated Financial Statements.", + "(2)Primarily driven by Citi\u9225\u6a9a pay fixed/receive floating interest rate swap programs that hedge the floating rates on liabilities.", + "(3)Primarily reflects adjustments based on the quarterly actuarial valuations of Citi\u9225\u6a9a significant pension and postretirement plans, annual actuarial valuations of all other plans and amortization of amounts previously recognized in Other comprehensive income.", + "(4)Primarily reflects the movements in (by order of impact) the Brazilian real, Indian rupee, Mexican peso, and Australian dollar against the U. S. dollar and changes in related tax effects and hedges for the year ended Primarily reflects the movements in (by order of impact) the Brazilian real, Indian rupee, Mexican peso, and Australian dollar against the U. S. dollar and changes in related tax effects and hedges for the year ended December\u807d31, 2018.", + "Primarily reflects the movements in (by order of impact) the Euro, Mexican peso, Polish zloty and Korean won against the U. S. dollar and changes in related tax effects and hedges for the year ended December\u807d31, 2017.", + "Primarily reflects the movements in (by order of impact) the Mexican peso, Euro, British pound and Indian rupee against the U. S. dollar and changes in related tax effects and hedges for the year ended December\u807d31, 2016.", + "(5)Beginning in the first quarter of 2018, changes in the excluded component of fair value hedges are reflected as a component of AOCI, pursuant to the early adoption of ASU No.2017-12, Targeted Improvements to Accounting for Hedging Activities.", + "See Note 1 of the Consolidated Financial Statements for further information regarding this change.", + "(6)In the second quarter of 2017, Citi early adopted ASU No.2017-08.", + "\u807dUpon adoption, a cumulative effect adjustment was recorded to reduce Retained earnings, effective January 1, 2017, for the incremental amortization of cumulative fair value hedge adjustments on callable state and municipal debt securities.", + "See Note 1 to the Consolidated Financial Statements.", + "(7)In the fourth quarter of 2017, Citi adopted ASU 2018-02, which transferred these amounts from AOCI to Retained earnings.", + "See Note 1 to the Consolidated Financial Statements.", + "(8)Citi adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018.", + "Upon adoption, a cumulative effect adjustment was recorded from AOCI to Retained earnings for net unrealized gains on former AFS equity securities.", + "For additional information, see Note 1 to the Consolidated Financial Statements (9)Includes the impact of the release upon meeting the accounting trigger for substantial liquidation of Citi\u9225\u6a9a Japan Consumer Finance business during the fourth quarter of 2018.", + "See Note 1 to the Consolidated Financial Statements.", + "Cash Flow Hedges Citigroup hedges the variability of forecasted cash flows associated with floating-rate assets/liabilities and other forecasted transactions.", + "Variable cash flows from those liabilities are synthetically converted to fixed-rate cash flows by entering into receive-variable, pay-fixed interest rate swaps and receive\u0002variable, pay-fixed forward-starting interest rate swaps.", + "Variable cash flows associated with certain assets are synthetically converted to fixed-rate cash flows by entering into receive-fixed, pay-variable interest rate swaps.", + "These cash flow hedging relationships use either regression analysis or dollar-offset ratio analysis to assess whether the hedging relationships are highly effective at inception and on an ongoing basis.", + "Prior to the adoption of ASU 2017-12, Citigroup designated the risk being hedged as the risk of overall variability in the hedged cash flows for certain items.", + "With the adoption of ASU 2017-12, Citigroup hedges the variability from changes in a contractually specified rate and recognizes the entire change in fair value of the cash flow hedging instruments in AOCI.", + "Prior to the adoption of ASU 2017-12, to the extent that these derivatives were not fully effective, changes in their fair values in excess of changes in the value of the hedged transactions were immediately included in Other revenue.", + "With the adoption of ASU 2017-12, such amounts are no longer required to be immediately recognized in income, but instead the full change in the value of the hedging instrument is required to be recognized in AOCI, and then recognized in earnings in the same period that the cash flows impact earnings.", + "The pretax change in AOCI from cash flow hedges is presented below:", + "||Year ended December 31,|\n|In millions of dollars|2018|2017|2016|\n|Amount of gain (loss) recognized in AOCI on derivative||||\n|Interest rate contracts-1|$-361||$-165|$-219|\n|Foreign exchange contracts|5|-8|69|\n|Total gain (loss) recognized in AOCI|$-356||$-173|$-150|\n|Amount of gain (loss) reclassified from AOCI to earnings|Otherrevenue|Net interestrevenue|Otherrevenue|Otherrevenue|\n|Interest rate contracts-1|$\u2014|$-301|$-126|$-140|\n|Foreign exchange contracts|-17|\u2014|-10|-93|\n|Total gain (loss) reclassified from AOCI into earnings|$-17|$-301|$-136|$-233|\n", + "(1) After January 1, 2018, all amounts reclassified into earnings for interest rate contracts are included in Interest income/Interest expense (Net interest revenue).", + "For all other hedges, including interest rate hedges prior to January 1, 2018, the amounts reclassified to earnings are included primarily in Other revenue and Net interest revenue in the Consolidated Statement of Income.", + "For cash flow hedges, the changes in the fair value of the hedging derivative remain in AOCI on the Consolidated Balance Sheet and will be included in the earnings of future periods to offset the variability of the hedged cash flows when such cash flows affect earnings.", + "The net gain (loss) associated with cash flow hedges expected to be reclassified from AOCI within 12?months of December?31, 2018 is approximately $404 million.", + "The maximum length of time over which forecasted cash flows are hedged is 10 years.", + "The after-tax impact of cash flow hedges on AOCI is shown in Note?19 to the Consolidated Financial Statements.", + "The following tables present information about Citi\u2019s guarantees:", + "||Maximum potential amount of future payments||\n|In billions of dollars at December 31, 2018, except carrying value in millions|Expire within1 year|Expire after1 year|Total amountoutstanding|Carrying value(in millions of dollars)|\n|Financial standby letters of credit|$31.8|$65.3|$97.1|$131|\n|Performance guarantees|7.7|4.2|11.9|29|\n|Derivative instruments considered to be guarantees|23.5|87.4|110.9|567|\n|Loans sold with recourse|\u2014|1.2|1.2|9|\n|Securities lending indemnifications-1|98.3|\u2014|98.3|\u2014|\n|Credit card merchant processing-1(2)|95.0|\u2014|95.0|\u2014|\n|Credit card arrangements with partners|0.3|0.8|1.1|162|\n|Custody indemnifications and other|\u2014|35.4|35.4|41|\n|Total|$256.6|$194.3|$450.9|$939|\n", + "Maximum potential amount of future payments" + ], + "question_id": "simplong-test-25", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of U.S. of As of December 31, 2014, and Client deposits of December 31, 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "countries which totaled between .75% and 1% of our consolidated total assets at December 31, 2009 amounted to $1.26 billion (Italy).", + "Aggregate cross-border outstandings to countries which totaled between .75% and 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% and 1% of our consolidated total assets as of December 31, 2007.", + "Capital The management of regulatory and economic capital both involve 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\u2019 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 is expected to be realized over both the short and long term, while protecting our obligations to depositors and creditors and satisfying regulatory capital adequacy requirements.", + "Our capital management process focuses on our risk exposures, our regulatory capital requirements, the evaluations of the major independent credit rating agencies that assign ratings to our public debt and our capital position relative to our peers.", + "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 of 1991.", + "State Street Bank must meet the regulatory capital thresholds for \u201cwell capitalized\u201d in order for the parent company to maintain its status as a financial holding company.", + "Regulatory capital ratios and related regulatory guidelines for State Street and State Street Bank were as follows as of December 31:", + "||REGULATORY GUIDELINES|STATE STREET| STATE STREET BANK|\n||Minimum|Well Capitalized|2009|2008 -2|2009| 2008-2|\n|Regulatory capital ratios:|||||||\n|Tier 1 risk-based capital|4%|6%|17.7%|20.3%|17.3%|19.8%|\n|Total risk-based capital|8|10|19.1|21.6|19.0|21.3|\n|Tier 1 leverage ratio-1|4|5|8.5|7.8|8.2|7.6|\n", + "(1) Regulatory guideline for well capitalized applies only to State Street Bank.", + "(2) Tier 1 and total risk-based capital and tier 1 leverage ratios exclude the impact, where applicable, of the asset-backed commercial paper purchased under the Federal Reserve\u2019s AMLF, as permitted by the AMLF\u2019s terms and conditions.", + "At December 31, 2009, State Street\u2019s and State Street Bank\u2019s tier 1 and total risk-based capital ratios decreased compared to year-end 2008.", + "With respect to State Street, the loss associated with the May 2009 conduit consolidation and the June 2009 redemption of the equity received from the U. S. Treasury in connection with the TARP Capital Purchase Program, partly offset by the aggregate impact of the May 2009 public offering", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults.", + "To the extent that such factors differ significantly from management's current expectations, resulting loss estimates may differ materially from those stated.", + "Excluding other-than-temporary impairment recorded in 2014, management considers the aggregate decline in fair value of the remaining investment securities and the resulting gross unrealized losses as of December 31, 2014 to be temporary and not the result of any material changes in the credit characteristics of the securities.", + "Additional information about these gross unrealized losses is provided in note 3 to the consolidated financial statements included under Item 8 of this Form 10-K. Loans and Leases TABLE 26: U. S. AND NON- U. S. LOANS AND LEASES", + "||As of December 31,|\n|(In millions)|2014|2013|2012|2011|2010|\n|Institutional:||||||\n|U.S.|$14,908|$10,623|$9,645|$7,115|$7,001|\n|Non-U.S.|3,263|2,654|2,251|2,478|4,192|\n|Commercial real estate:||||||\n|U.S.|28|209|411|460|764|\n|Total loans and leases|$18,199|$13,486|$12,307|$10,053|$11,957|\n|Average loans and leases|$15,912|$13,781|$11,610|$12,180|$12,094|\n", + "The increase in loans in the institutional segment as of December 31, 2014 as compared to December 31, 2013 was primarily driven by higher levels of short-duration advances and increased investment in the non-investment-grade lending market through participations in loan syndications, specifically senior secured bank loans.", + "Short-duration advances to our clients included in the institutional segment were $3.54 billion and $2.45 billion as of December 31, 2014 and 2013, respectively.", + "These short-duration advances provide liquidity to fund clients in support of their transaction flows associated with securities settlement activities.", + "As of December 31, 2014 and 2013, our investment in senior secured bank loans totaled approximately $2.07 billion and $724 million, respectively.", + "In addition, we had binding unfunded commitments as of December 31, 2014 totaling $337 million to participate in such syndications.", + "These senior secured bank loans, which we have rated \u201cspeculative\u201d under our internal risk-rating framework (refer to note 4 to the consolidated financial statements included under Item 8 of this Form 10-K), are externally rated \u201cBBB,\u201d \u201cBB\u201d or \u201cB,\u201d with approximately 95% of the loans rated \u201cBB\u201d or \u201cB\u201d as of December 31, 2014, compared to 94% as of December 31, 2013.", + "Our investment strategy involves limiting our investment to larger, more liquid credits underwritten by major global financial institutions, applying our internal credit analysis process to each potential investment, and diversifying our exposure by counterparty and industry segment.", + "However, these loans have significant exposure to credit losses relative to higher-rated loans.", + "As of December 31, 2014, our allowance for loan losses included approximately $26 million related to these senior secured bank loans.", + "As this portfolio grows and becomes more seasoned, our allowance for loan losses related to these loans may increase through additional provisions for credit losses.", + "As of December 31, 2014 and 2013, unearned income deducted from our investment in leveraged lease financing was $109 million and $121 million, respectively, for U. S. leases and $261 million and $298 million, respectively, for non-U.", + "S. leases.", + "The commercial real estate, or CRE, loans are composed of the loans acquired in 2008 pursuant to indemnified repurchase agreements with an affiliate of Lehman as a result of the Lehman Brothers bankruptcy.", + "Additional information about all of our loan-and-lease segments, as well as underlying classes, is provided in note 4 to the consolidated financial statements included under Item 8 of this Form 10-K.", + "The decrease in the CRE loans as of December 31, 2014 compared to December 31, 2013 resulted from one of the loans, acquired in 2008 pursuant to indemnified repurchase agreement with an affiliate of Lehman as a result of the Lehman Brothers bankruptcy being repaid.", + "As of December 31, 2014 no CRE loans were modified in troubled debt restructurings.", + "As of December 31, 2013, we held a CRE loan for approximately $130 million which had previously been modified in a troubled debt restructuring.", + "No loans were modified in troubled debt restructurings in 2014 or 2013.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) Funding Deposits: We provide products and services including custody, accounting, administration, daily pricing, foreign exchange services, cash management, financial asset management, securities finance and investment advisory services.", + "As a provider of these products and services, we generate client deposits, which have generally provided a stable, low-cost source of funds.", + "As a global custodian, clients place deposits with State Street entities in various currencies.", + "We invest these client deposits in a combination of investment securities and short\u0002duration financial instruments whose mix is determined by the characteristics of the deposits.", + "For the past several years, we have experienced higher client deposit inflows toward the end of the quarter or the end of the year.", + "As a result, we believe average client deposit balances are more reflective of ongoing funding than period-end balances.", + "TABLE 33: CLIENT DEPOSITS", + "||December 31,|Average Balance Year Ended December 31,|\n|(In millions)|2014|2013|2014|2013|\n|Client deposits-1|$195,276|$182,268|$167,470|$143,043|\n", + "(1) Balance as of December 31, 2014 excluded term wholesale certificates of deposit, or CDs, of $13.76 billion; average balances for the year ended December 31, 2014 and 2013 excluded average CDs of $6.87 billion and $2.50 billion, respectively.", + "Short-Term Funding: Our corporate commercial paper program, under which we can issue up to $3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance, had $2.48 billion and $1.82 billion of commercial paper outstanding as of December 31, 2014 and 2013, respectively.", + "Our on-balance sheet liquid assets are also an integral component of our liquidity management strategy.", + "These assets provide liquidity through maturities of the assets, but more importantly, they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales.", + "In addition, our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors.", + "As discussed earlier under \u201cAsset Liquidity,\u201d State Street Bank's membership in the FHLB allows for advances of liquidity with varying terms against high-quality collateral.", + "Short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase.", + "These transactions are short-term in nature, generally overnight, and are collateralized by high-quality investment securities.", + "These balances were $8.93 billion and $7.95 billion as of December 31, 2014 and 2013, respectively.", + "State Street Bank currently maintains a line of credit with a financial institution of CAD $800 million, or approximately $690 million as of December 31, 2014, to support its Canadian securities processing operations.", + "The line of credit has no stated termination date and is cancelable by either party with prior notice.", + "As of December 31, 2014, there was no balance outstanding on this line of credit.", + "Long-Term Funding: As of December 31, 2014, State Street Bank had Board authority to issue unsecured senior debt securities from time to time, provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $5 billion.", + "As of December 31, 2014, $4.1 billion was available for issuance pursuant to this authority.", + "As of December 31, 2014, State Street Bank also had Board authority to issue an additional $500 million of subordinated debt.", + "We maintain an effective universal shelf registration that allows for the public offering and sale of debt securities, capital securities, common stock, depositary shares and preferred stock, and warrants to purchase such securities, including any shares into which the preferred stock and depositary shares may be convertible, or any combination thereof.", + "We have issued in the past, and we may issue in the future, securities pursuant to our shelf registration.", + "The issuance of debt or equity securities will depend on future market conditions, funding needs and other factors.", + "Agency Credit Ratings Our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies.", + "Factors essential to maintaining high credit ratings include diverse and stable core earnings; relative market position; strong risk management; strong capital ratios; diverse liquidity sources, including the global capital markets and client deposits; strong liquidity monitoring procedures; and preparedness for current or future regulatory developments.", + "High ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors, increasing the potential market for our debt and improving our ability to offer products, serve markets, and engage in transactions in which clients value high credit ratings.", + "A downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital" + ], + "question_id": "simplong-test-26", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average value of the Fixed maturities: Foreign government bonds for AmortizedCost or Cost in the years where Corporate securities is positive for AmortizedCost or Cost? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Shares of common stock issued, in treasury, and outstanding were (in thousands of shares):", + "||Shares Issued|Treasury Shares|Shares Outstanding|\n|Balance at December 29, 2013|376,832|\u2014|376,832|\n|Exercise of stock options, issuance of other stock awards, and other|178|\u2014|178|\n|Balance at December 28, 2014|377,010|\u2014|377,010|\n|Exercise of warrants|20,480|\u2014|20,480|\n|Issuance of common stock to Sponsors|221,666|\u2014|221,666|\n|Acquisition of Kraft Foods Group, Inc.|592,898|\u2014|592,898|\n|Exercise of stock options, issuance of other stock awards, and other|2,338|-413|1,925|\n|Balance at January 3, 2016|1,214,392|-413|1,213,979|\n|Exercise of stock options, issuance of other stock awards, and other|4,555|-2,058|2,497|\n|Balance at December 31, 2016|1,218,947|-2,471|1,216,476|\n", + "Note 13. Financing Arrangements We routinely enter into accounts receivable securitization and factoring programs .", + "We account for transfers of receivables pursuant to these programs as a sale and remove them from our consolidated balance sheet.", + "At December 31, 2016 , our most significant program in place was the U. S. securitization program, which was amended in May 2016 and originally entered into in October of 2015.", + "Under the program, we are entitled to receive cash consideration of up to $800 million (which we elected to reduce to $500 million , effective February 21, 2017) and a receivable for the remainder of the purchase price (the \u201cDeferred Purchase Price\u201d).", + "This securitization program utilizes a bankruptcy\u0002remote special-purpose entity (\u201cSPE\u201d).", + "The SPE is wholly-owned by a subsidiary of Kraft Heinz and its sole business consists of the purchase or acceptance, through capital contributions of receivables and related assets, from a Kraft Heinz subsidiary and subsequent transfer of such receivables and related assets to a bank.", + "Although the SPE is included in our consolidated financial statements, it is a separate legal entity with separate creditors who will be entitled, upon its liquidation, to be satisfied out of the SPE's assets prior to any assets or value in the SPE becoming available to Kraft Heinz or its subsidiaries.", + "The assets of the SPE are not available to pay creditors of Kraft Heinz or its subsidiaries.", + "This program expires in May 2017.", + "In addition to the U. S. securitization program, we have accounts receivable factoring programs denominated in Australian dollars, New Zealand dollars, British pound sterling, euros, and Japanese yen.", + "Under these programs, we generally receive cash consideration up to a certain limit and a receivable for the Deferred Purchase Price.", + "There is no Deferred Purchase Price associated with the Japanese yen contract.", + "Related to these programs, our aggregate cash consideration limit, after applying applicable hold-backs, was $245 million U. S. dollars at December 31, 2016.", + "Generally, each of these programs automatically renews annually until terminated by either party.", + "The cash consideration and carrying amount of receivables removed from the consolidated balance sheets in connection with the above programs were $904 million at December 31, 2016 and $267 million at January 3, 2016 .", + "The fair value of the Deferred Purchase Price for the programs was $129 million at December 31, 2016 and $583 million at January 3, 2016 .", + "The Deferred Purchase Price is included in sold receivables on the consolidated balance sheets and had a carrying value which approximated its fair value at December 31, 2016 and January 3, 2016 .", + "The proceeds from these sales are recognized on the consolidated statements of cash flows as a component of operating activities.", + "We act as servicer for these arrangements and have not recorded any servicing assets or liabilities for these arrangements as of December 31, 2016 and January 3, 2016 because they were not material to the financial statements.", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements The following table sets forth a rollforward of pre-tax amounts remaining in OCI related to fixed maturity securities with credit loss impairments recognized in earnings, for the periods indicated:", + "||Years Ended December 31,|\n||2018|2017|\n||(in millions)|\n|Credit loss impairments:|||\n|Balance, beginning of period|$319|$359|\n|New credit loss impairments|1|10|\n|Additional credit loss impairments on securities previously impaired|0|11|\n|Increases due to the passage of time on previously recorded credit losses|10|15|\n|Reductions for securities which matured, paid down, prepaid or were sold during the period|-162|-58|\n|Reductions for securities impaired to fair value during the period-1|-24|-13|\n|Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected|-4|-5|\n|Balance, end of period|$140|$319|\n", + "(1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security\u2019s amortized cost.", + "Assets Supporting Experience-Rated Contractholder Liabilities The following table sets forth the composition of \u201cAssets supporting experience-rated contractholder liabilities,\u201d as of the dates indicated:", + "||December 31, 2018|December 31, 2017|\n||AmortizedCost or Cost|FairValue|AmortizedCost or Cost|FairValue|\n||(in millions)|\n|Short-term investments and cash equivalents|$215|$215|$245|$245|\n|Fixed maturities:|||||\n|Corporate securities|13,258|13,119|13,816|14,073|\n|Commercial mortgage-backed securities|2,346|2,324|2,294|2,311|\n|Residential mortgage-backed securities-1|828|811|961|966|\n|Asset-backed securities-2|1,649|1,665|1,363|1,392|\n|Foreign government bonds|1,087|1,083|1,050|1,057|\n|U.S. government authorities and agencies and obligations of U.S. states|538|577|357|410|\n|Total fixed maturities-3|19,706|19,579|19,841|20,209|\n|Equity securities|1,378|1,460|1,278|1,643|\n|Total assets supporting experience-rated contractholder liabilities-4|$21,299|$21,254|$21,364|$22,097|\n", + "(1) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations.", + "(2) Includes credit-tranched securities collateralized by sub-prime mortgages, auto loans, credit cards, education loans and other asset types.", + "Includes collateralized loan obligations at fair value of $1,028 million and $943 million as of December 31, 2018 and 2017, respectively, all of which were rated AAA.", + "(3) As a percentage of amortized cost, 93% and 92% of the portfolio was considered high or highest quality based on NAIC or equivalent ratings, as of December 31, 2018 and 2017, respectively.", + "(4) As a percentage of amortized cost, 78% and 80% of the portfolio consisted of public securities as of December 31, 2018 and 2017, respectively.", + "The net change in unrealized gains (losses) from assets supporting experience-rated contractholder liabilities still held at period end, recorded within \u201cOther income (loss),\u201d was $(778) million, $300 million and $75 million during the years ended December 31, 2018, 2017 and 2016, respectively.", + "Equity Securities The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within \u201cOther income (loss),\u201d was $(1,157) million during the year ended December 31, 2018.", + "The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within \u201cOther comprehensive income (loss),\u201d was $(494) million and $760 million during the years ended December 31, 2017 and 2016, respectively.", + "Benefits and expenses increased $735 million.", + "Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $709 million primarily driven by an increase in policyholders\u2019 benefits, including the change in policy reserves, related to the increase in premiums discussed above.", + "Account Values Account values are a significant driver of our operating results, and are primarily driven by net additions (withdrawals) and the impact of market changes.", + "The income we earn on most of our fee-based products varies with the level of fee-based account values, since many policy fees are determined by these values.", + "The investment income and interest we credit to policyholders on our spread-based products varies with the level of general account values.", + "To a lesser extent, changes in account values impact our pattern of amortization of DAC and VOBA and general and administrative expenses.", + "The following table shows the changes in the account values and net additions (withdrawals) of Retirement segment products for the periods indicated.", + "Net additions (withdrawals) are plan sales and participant deposits or additions, as applicable, minus plan and participant withdrawals and benefits.", + "Account values include both internally- and externally\u0002managed client balances as the total balances drive revenue for the Retirement segment.", + "For more information on internally-managed balances, see \u201c\u2014PGIM.", + "\u201d" + ], + "question_id": "simplong-test-27", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what were the remaining mondovi net assets acquired following the sale of certain excess assets from the deal , in thousands?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Consolidated Results of Operations Year Ended December 31, 2011 Compared to Year Ended December 31, 2010 Management believes that operating measures, which exclude net realized gains or losses; the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization; integration and restructuring charges; income (loss) from discontinued operations; and the impact of consolidating CIEs, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis.", + "See our discussion on the use of these non-GAAP measures in the Overview section above.", + "The following table presents our consolidated results of operations:", + "| |Years Ended December 31,|||\n| |2011 |2010 |||\n| |GAAP|Less: Adjustments -1|Operating |GAAP|Less: Adjustments -1|Operating |Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$4,537|$-49|$4,586|$3,784|$-38|$3,822|$764|20%|\n|Distribution fees|1,573|\u2014|1,573|1,447|\u2014|1,447|126|9|\n|Net investment income|2,046|97|1,949|2,309|308|2,001|-52|-3|\n|Premiums|1,220|\u2014|1,220|1,179|\u2014|1,179|41|3|\n|Other revenues|863|94|769|863|125|738|31|4|\n|Total revenues|10,239|142|10,097|9,582|395|9,187|910|10|\n|Banking and deposit interest expense|47|\u2014|47|70|\u2014|70|-23|-33|\n|Total net revenues|10,192|142|10,050|9,512|395|9,117|933|10|\n| Expenses|||||||||\n|Distribution expenses|2,497|\u2014|2,497|2,065|\u2014|2,065|432|21|\n|Interest credited to fixed accounts|853|\u2014|853|909|\u2014|909|-56|-6|\n|Benefits, claims, losses and settlement expenses|1,557|67|1,490|1,750|9|1,741|-251|-14|\n|Amortization of deferred acquisition costs|618|-8|626|127|16|111|515|NM|\n|Interest and debt expense|317|221|96|290|181|109|-13|-12|\n|General and administrative expense|2,965|116|2,849|2,737|129|2,608|241|9|\n|Total expenses|8,807|396|8,411|7,878|335|7,543|868|12|\n|Income from continuing operations before income tax provision|1,385|-254|1,639|1,634|60|1,574|65|4|\n|Income tax provision|355|-52|407|350|-36|386|21|5|\n|Income from continuing operations|1,030|-202|1,232|1,284|96|1,188|44|4|\n|Loss from discontinued operations, net of tax|-60|-60|\u2014|-24|-24|\u2014|\u2014|\u2014|\n|Net income|970|-262|1,232|1,260|72|1,188|44|4|\n|Less: Net income (loss) attributable to non- controlling interests|-106|-106|\u2014|163|163|\u2014|\u2014|\u2014|\n|Net income attributable to Ameriprise Financial|$1,076|$-156|$1,232|$1,097|$-91|$1,188|$44|4%|\n", + "NM Not Meaningful.", + "(1) Includes the elimination of management fees we earn for services provided to the CIEs and the related expense; revenues and expenses of the CIEs; net realized gains or losses; the market impact on variable annuity living benefits, net of hedges, DSIC and DAC amortization; integration and restructuring charges; and income (loss) from discontinued operations.", + "Income tax provision is calculated using the statutory tax rate of 35% on applicable adjustments.", + "CELANESE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Interest Expense", + "||Successor|Predecessor|\n||YearEndedDecember 31,2005|Nine MonthsEndedDecember 31,2004|Three MonthsEndedMarch31,2004|Year EndedDecember 31,2003|\n||(in $millions)|\n|Accelerated amortization of deferredfinancing costs on early redemption and prepayment ofdebt|28|89|\u2014|\u2014|\n|Premiumpaid on early redemption ofdebt|74|21|\u2014|\u2014|\n|Otherinterestexpense|285|190|6|49|\n|Totalinterestexpense|387|300|6|49|\n", + "Senior Credit Facilities.", + "As of December 31, 2005, the senior credit facilities consist of a term loan facility, a revolving credit facility and a credit-linked revolving facility.", + "The term loan facility consists of commitments of $1,386 million and u273 million, both maturing in 2011.", + "The revolving credit facility, through a syndication of banks, provides for borrowings of up to $600 million, including the availability of letters of credit in U. S. dollars and euros and for borrowings on same-day notice.", + "In January 2005, the Company amended and restated its senior credit facilities and increased the term loan facility from $624 million to $1,750 million (including u275 million) and increased the revolving credit facility from $380 million to $600 million.", + "As of December 31, 2005, $64 million of letters of credit have been issued under the revolving credit facility and $536 million remained available for borrowing.", + "In addition, the Company has a $228 million credit-linked revolving facility, which matures in 2009.", + "The credit-linked revolving facility includes borrowing capacity available for letters of credit.", + "As of December 31, 2005, there were $199 million of letters of credit issued under the credit-linked revolving facility and $29 million remained available for borrowing.", + "Substantially all of the assets of Celanese Holdings LLC (\u2018\u2018Celanese Holdings\u2019\u2019), the direct parent of BCP Crystal US Holdings Corp. (\u2018\u2018BCP Crystal\u2019\u2019), and, subject to certain exceptions, substantially all of its existing and future U. S. subsidiaries, referred to as U. S. Guarantors, secure these facilities.", + "The borrowings under the revolving senior credit facility bear interest at a rate equal to an applicable margin plus, at the borrower\u2019s option, either a base rate or a LIBOR rate.", + "The applicable margin for a revolving facility borrowing under the base rate option is 1.50% and for the LIBOR option, 2.50% (in each case, subject to a step-down based on a performance test, as defined).", + "In November 2005, the Company amended its senior credit facilities which lowered the margin over LIBOR on the U. S. dollar denominated portion of the term loan facility from 2.25% to 2.00%.", + "In addition, a further reduction of the interest rate to LIBOR plus 1.75% is allowed if certain conditions are met.", + "BCP Crystal may voluntarily repay outstanding loans under the senior credit facility at any time without premium or penalty, other than customary \u2018\u2018breakage\u2019\u2019 costs with respect to LIBOR loans.", + "Senior Subordinated Notes.", + "During June and July 2004, the Company issued $1,225 million and u200 million in senior subordinated notes for proceeds of $1,475 million, which included $4 million in premiums.", + "All of BCP Crystal\u2019s U. S. domestic, wholly owned subsidiaries that guarantee BCP Crystal\u2019s obligations under the senior credit facilities guarantee the senior subordinated notes on an unsecured senior subordinated basis.", + "In February 2005, $521 million of the net proceeds of the offering of the Company\u2019s Series A common stock were used to redeem a portion of the senior subordinated notes and $51 million was used to pay the premium associated with the redemption.", + "Baroness Philippine de Rothschild announced an agree\u0002ment to maintain equal ownership of Opus One.", + "Opus One produces fine wines at its Napa Valley winery.", + "The acquisition of Robert Mondavi supports the Com\u0002pany\u2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium, super-premium and fine wine categories.", + "The Company believes that the acquired Robert Mondavi brand names have strong brand recognition globally.", + "The vast majority of sales from these brands are generated in the United States.", + "The Company is leveraging the Robert Mondavi brands in the United States through its selling, marketing and distribution infrastructure.", + "The Company also intends to further expand distribution for the Robert Mondavi brands in Europe through its Constellation Europe infrastructure.", + "The Robert Mondavi acquisition supports the Com\u0002pany\u2019s strategy of growth and breadth across categories and geographies, and strengthens its competitive position in its core markets.", + "The Robert Mondavi acquisition provides the Company with a greater presence in the growing premium, super-premium and fine wine sectors within the United States and the ability to capitalize on the broader geographic distribution in strategic international markets.", + "In particular, the Company believes there are growth opportunities for premium, super-premium and fine wines in the United Kingdom and other \u201cnew world\u201d wine markets.", + "Total con\u0002sideration paid in cash to the Robert Mondavi shareholders was $1,030.7 million.", + "Additionally, the Company incurred direct acquisition costs of $12.0 million.", + "The purchase price was financed with borrowings under the Company\u2019s 2004 Credit Agreement (as defined in Note 9).", + "In accordance with the purchase method of accounting, the acquired net assets are recorded at fair value at the date of acquisition.", + "The purchase price was based primarily on the estimated future operating results of the Robert Mondavi business, including the factors described above, as well as an estimated benefit from operating cost synergies.", + "The results of operations of the Robert Mondavi busi\u0002ness are reported in the Constellation Wines segment and have been included in the Consolidated Statements of Income since the acquisition date.", + "The following table summarizes the fair values of the assets acquired and liabilities assumed in the Robert Mondavi acquisition at the date of acquisition, as adjusted for the final appraisal:", + "|Current assets|$513,782|\n|Property, plant and equipment|438,140|\n|Other assets|124,450|\n|Trademarks|138,000|\n|Goodwill|634,203|\n|Total assets acquired|1,848,575|\n|Current liabilities|310,919|\n|Long-term liabilities|494,995|\n|Total liabilities assumed|805,914|\n|Net assets acquired|$1,042,661|\n", + "The trademarks are not subject to amortization.", + "None of the goodwill is expected to be deductible for tax purposes.", + "Following the Robert Mondavi acquisition, the Company sold certain of the acquired vineyard properties and related assets, investments accounted for under the equity method, and other winery properties and related assets, during the years ended February 28, 2006, and February 28, 2005.", + "The Company realized net proceeds of $170.8 million from the sale of these assets during the year ended February 28, 2006.", + "Amounts realized during the year ended February 28, 2005, were not material.", + "No gain or loss has been recognized upon the sale of these assets.", + "HARDY ACQUISITION \u2013 On March 27, 2003, the Company acquired control of BRL Hardy Limited, now known as Hardy Wine Company Limited (\u201cHardy\u201d), and on April 9, 2003, the Company completed its acquisition of all of Hardy\u2019s outstanding capital stock.", + "As a result of the acquisi\u0002tion of Hardy, the Company also acquired the remaining 50% ownership of Pacific Wine Partners LLC (\u201cPWP\u201d), the joint venture the Company established with Hardy in July 2001.", + "The acquisition of Hardy along with the remaining interest in PWP is referred to together as the \u201cHardy Acquisition.", + "\u201d Through this acquisition, the Company acquired one of Australia\u2019s largest wine producers with interests in wineries and vineyards in most of Australia\u2019s major wine regions as well as New Zealand and the United States and Hardy\u2019s marketing and sales operations in the United Kingdom.", + "In October 2005, PWP was merged into another subsidiary of the Company.", + "Total consideration paid in cash and Class A Common Stock to the Hardy shareholders was $1,137.4 million.", + "Additionally, the Company recorded direct acquisition costs of $17.2 million.", + "The acquisition date for accounting pur\u0002poses is March 27, 2003.", + "The Company has recorded a $1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration.", + "This charge is included as interest expense in the Consolidated Statement of Income for the year ended February 29, 2004.", + "The cash portion of the purchase price paid to the Hardy shareholders and optionholders ($1,060.2 million) was financed with $660.2 million of borrowings under the Company\u2019s then existing credit agreement and $400.0 million of borrowings under the Company\u2019s then existing bridge loan agreement.", + "Addi\u0002tionally, the Company issued 6,577,826 shares of the Com\u0002pany\u2019s Class A Common Stock, which were valued at $77.2 million based on the simple average of the closing market price of the Company\u2019s Class A Common Stock beginning two days before and ending two days after April 4, 2003, the day the Hardy shareholders elected the form of consid\u0002eration they wished to receive.", + "The purchase price was based primarily on a discounted cash flow analysis that contemplated, among other things, the value of a broader geographic distribution in strategic international markets and a presence in the important Australian winemaking regions.", + "The Company and Hardy have complementary businesses that share a common growth orientation and operating philosophy.", + "The Hardy Acquisition supports the Company\u2019s strategy of growth and breadth across categories" + ], + "question_id": "simplong-test-28", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the pre-tax aggregate net unrealized loss in 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) of certain of its assets and liabilities under its interest rate swap agreements held as of December 31, 2006 and entered into during the first half of 2007.", + "In addition, the Company paid $8.0 million related to a treasury rate lock agreement entered into and settled during the year ended December 31, 2008.", + "The cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% Notes.", + "During the year ended December 31, 2007, the Company also received $3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $1.4 billion, which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the Certificates issued in the Securitization in May 2007.", + "The settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges.", + "The Company also received $17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes.", + "This gain is included in other income in the accompanying consolidated statement of operations for the year ended December 31, 2007.", + "As of December 31, 2008 and 2007, other comprehensive (loss) income included the following items related to derivative financial instruments (in thousands):", + "||2008|2007|\n|Deferred loss on the settlement of the treasury rate lock, net of tax|$-4,332|$-4,901|\n|Deferred gain on the settlement of interest rate swap agreements entered into in connection with the Securitization, net oftax|1,238|1,636|\n|Unrealized losses related to interest rate swap agreements, net of tax|-16,349|-486|\n", + "During the years ended December 31, 2008 and 2007, the Company recorded an aggregate net unrealized loss of approximately $15.8 million and $3.2 million, respectively (net of a tax provision of approximately $10.2 million and $2.0 million, respectively) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $0.1 million and $6.2 million, respectively (net of an income tax provision of $2.0 million and an income tax benefit of $3.3 million, respectively) into results of operations.9.", + "FAIR VALUE MEASUREMENTS The Company determines the fair market values of its financial instruments based on the fair value hierarchy established in SFAS No.157, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.", + "The standard describes three levels of inputs that may be used to measure fair value.", + "Level 1 Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.", + "The Company\u2019s Level 1 assets consist of available-for-sale securities traded on active markets as well as certain Brazilian Treasury securities that are highly liquid and are actively traded in over-the-counter markets.", + "Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The Company issued 82,865, 93,367 and 105,239 of non-vested restricted stock units in 2017, 2016 and 2015, respectively, the majority of which provide for vesting as to all underlying shares on the third anniversary of the grant date.", + "The weighted average grant-date fair value for non-vested restricted stock units granted during 2017, 2016 and 2015 was $187.85, $142.71 and $118.00, respectively.", + "The Company recorded $11.2 million of expense related to restricted stock units during 2017, which is included in cost of goods sold or selling, general and administrative expenses.", + "The unamortized share-based compensation cost related to non-vested restricted stock units, net of expected forfeitures, was $13.2 million, which is expected to be recognized over a weighted-average period of 1.8 years.", + "The Company uses treasury stock to provide shares of common stock in connection with vesting of the restricted stock units.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) F-37 Note 13?\u2014 Income taxes The following table summarizes the components of the provision for income taxes from continuing operations:", + "||2017|2016|2015|\n||(Dollars in thousands)|\n|Current:||||\n|Federal|$133,621|$2,344|$-4,700|\n|State|5,213|5,230|2,377|\n|Foreign|35,444|28,842|53,151|\n|Deferred:||||\n|Federal|-258,247|-25,141|-35,750|\n|State|1,459|-1,837|-5,012|\n|Foreign|212,158|-1,364|-2,228|\n||$129,648|$8,074|$7,838|\n", + "The Tax Cuts and Jobs Act (the \u201cTCJA\u201d) was enacted on December 22, 2017.", + "The legislation significantly changes U. S. tax law by, among other things, permanently reducing corporate income tax rates from a maximum of 35% to 21%, effective January 1, 2018; implementing a territorial tax system, by generally providing for, among other things, a dividends received deduction on the foreign source portion of dividends received from a foreign corporation if specified conditions are met; and imposing a one-time repatriation tax on undistributed post-1986 foreign subsidiary earnings and profits, which are deemed repatriated for purposes of the tax.", + "As a result of the TCJA, the Company reassessed and revalued its ending net deferred tax liabilities at December 31, 2017 and recognized a?$46.1 million?provisional tax benefit in the Company\u2019s consolidated statement of income for the year ended December 31, 2017.", + "As a result of the deemed repatriation tax under the TCJA, the Company recognized a $154.0 million provisional tax expense in the Company\u2019s consolidated statement of income for the year ended December 31, 2017, and the Company expects to pay this tax over an eight-year period.", + "While the TCJA provides for a territorial tax system, beginning in 2018, it includes?two?new U. S. tax base erosion provisions, the global intangible low-taxed income (\u201cGILTI\u201d) provisions and the base-erosion and anti-abuse tax (\u201cBEAT\u201d) provisions.", + "The GILTI provisions require the Company to include in its U. S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary\u2019s tangible assets.", + "The Company expects that it will be subject to incremental U. S. tax on GILTI income beginning in 2018.", + "Because of the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the TCJA and the application of Financial Accounting Standards Board Accounting Standards Codification Topic 740, \"Income Taxes. \"", + "Under U. S. GAAP, the Company may make an accounting policy election to either (1) treat future taxes with respect to the inclusion in U. S. taxable income of amounts related to GILTI as current period expense when incurred (the \u201cperiod cost method\u201d) or (2) take such amounts into a company\u2019s measurement of its deferred taxes (the \u201cdeferred method\u201d).", + "The Company\u2019s selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on an analysis of the Company\u2019s global income to determine whether the Company expects to have future U. S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be.", + "The determination of whether the Company expects to have future U. S. inclusions", + "?", + "Miller Insurance Services LLP, which is a Pounds sterling functional entity, earns significant non-functional currency revenues, in which case the Company limits its exposure to exchange rate changes by the use of forward contracts matched to a percentage of forecast cash inflows in specific currencies and periods.", + "However, where the foreign exchange risk relates to any Pounds sterling pension benefits assets or liability for pension benefits, we do not hedge the risk.", + "Consequently, if our London market operations have a significant pension asset or liability, we may be exposed to accounting gains and losses, recognized in other comprehensive income or loss, if the U. S. dollar and Pounds sterling exchange rates change.", + "We do, however, hedge the Pounds sterling contributions into the pension plan.", + "Translation risk Outside our U. S. and London market operations, we predominantly earn revenues and incur expenses in the local currency.", + "When we translate the results and net assets of these operations into U. S. dollars for reporting purposes, movements in exchange rates will affect reported results and net assets.", + "For example, if the U. S. dollar strengthens against the Euro, the reported results of our Eurozone operations in U. S. dollar terms will be lower.", + "With the exception of foreign currency hedges for certain intercompany loans that are not designated as hedging instruments, we do not hedge translation risk.", + "The table below provides information about our foreign currency forward exchange contracts, which are sensitive to exchange rate risk.", + "The table summarizes the U. S. dollar equivalent amounts of each currency bought and sold forward and the weighted average contractual exchange rates.", + "All forward exchange contracts mature within three years.", + "||Settlement date before December 31,|\n||2017|2018|2019|\n|December 31, 2016|Contract amount|Average contractual exchange rate|Contract amount|Average contractual exchange rate|Contract amount|Average contractual exchange rate|\n||(millions)||(millions)||(millions)||\n|Foreign currency sold|||||||\n|U.S. dollars sold for Pounds sterling|$390|$1.51 = \u00a31|$268|$1.46 = \u00a31|$77|$1.39 = \u00a31|\n|Euro sold for U.S. dollars|74|\u20ac1 = $1.20|48|\u20ac1 = $1.19|14|\u20ac1 = $1.17|\n|Japanese yen sold for U.S. dollars|21|\u00a5110.85 = $1|13|\u00a5110.90 - $1|5|\u00a598.63 = $1|\n|Euro sold for Pounds sterling|22|\u20ac1 = \u00a31.21|9|1 = \u00a31.33|4|\u20ac1 = \u00a31.24|\n|Total|$507||$338||$100||\n|Fair value(i)|$-65||$-40||$-5||\n", + "(i) Represents the difference between the contract amount and the cash flow in U. S. dollars which would have been receivable had the foreign currency forward exchange contracts been entered into on December 31, 2016 at the forward exchange rates prevailing at that date." + ], + "question_id": "simplong-test-29", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in net reserves in 2006?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Development of prior year incurred losses was $135.6 million unfavorable in 2006, $26.4 million favorable in 2005 and $249.4 million unfavorable in 2004.", + "Such losses were the result of the reserve development noted above, as well as inher\u0002ent uncertainty in establishing loss and LAE reserves.", + "Reserves for Asbestos and Environmental Losses and Loss Adjustment Expenses As of year end 2006, 7.4% of reserves reflect an estimate for the Company\u2019s ultimate liability for A&E claims for which ulti\u0002mate value cannot be estimated using traditional reserving techniques.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u2014Asbestos and Environmental Exposures\u201d and Note 3 of Notes to Consolidated Financial Statements.", + "Mt.", + "McKinley\u2019s book of direct A&E exposed insurance is relatively small and homogenous.", + "It also arises from a limited period, effective 1978 to 1984.", + "The book is based principally on excess liability policies, thereby limiting exposure analysis to a lim\u0002ited number of policies and forms.", + "As a result of this focused structure, the Company believes that it is able to comprehen\u0002sively analyze its exposures, allowing it to identify, analyze and actively monitor those claims which have unusual exposure, including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims.", + "The Company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to Mt.", + "McKinley.", + "Such engagement can take the form of pursuing a final settlement, negotiation, litigation, or the monitoring of claim activity under Settlement in Place (\u201cSIP\u201d) agreements.", + "SIP agreements generally condition an insurer\u2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer\u2019s payments.", + "The Company\u2019s Mt.", + "McKinley operation is currently managing eight SIP agreements, three of which were executed prior to the acquisition of Mt.", + "McKinley in 2000.", + "The Company\u2019s preference with respect to coverage settlements is to exe\u0002cute settlements that call for a fixed schedule of payments, because such settlements eliminate future uncertainty.", + "The Company has significantly enhanced its classification of insureds by exposure characteristics over time, as well as its analysis by insured for those it considers to be more exposed or active.", + "Those insureds identified as relatively less exposed or active are subject to less rigorous, but still active management, with an emphasis on monitoring those characteristics, which may indicate an increasing exposure or levels of activity.", + "The Company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders, including those that may not have reported significant A&E losses.", + "Everest Re\u2019s book of assumed reinsurance is relatively concentrated within a modest number of A&E exposed relationships.", + "It also arises from a limited period, effectively 1977 to 1984.", + "Because the book of business is relatively concentrated and the Company has been managing the A&E exposures for many years, its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities.", + "The Company\u2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies.", + "This level of familiarity enhances the quality of the Company\u2019s analysis of its exposure through those companies.", + "As a result, the Company believes that it can identify those claims on which it has unusual exposure, such as non-products asbestos claims, for concentrated attention.", + "However, in setting reserves for its reinsurance liabilities, the Company relies on claims data supplied, both formally and informally by its ceding companies and brokers.", + "This furnished information is not always timely or accurate and can impact the accuracy and timeli\u0002ness of the Company\u2019s ultimate loss projections.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the years ended December 31:", + "|(Dollars in millions)|2006|2005|2004|\n|Case reserves reported by ceding companies|$135.6|$125.2|$148.5|\n|Additional case reserves established by the Company (assumed reinsurance) (1)|152.1|157.6|151.3|\n|Case reserves established by the Company (direct insurance)|213.7|243.5|272.1|\n|Incurred but not reported reserves|148.7|123.3|156.4|\n|Gross reserves|650.1|649.6|728.3|\n|Reinsurance receivable|-138.7|-199.1|-221.6|\n|Net reserves|$511.4|$450.5|$506.7|\n", + "(1) Additional reserves are case specific reserves determined by the Company to be needed over and above those reported by the ceding company", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2016||||||||||\n|Attritional|$899.9|69.7%||$173.6|13.4%||$1,073.5|83.1%||\n|Catastrophes|49.4|3.8%||-0.2|0.0%||49.2|3.8%||\n|Total segment|$949.3|73.5%||$173.4|13.4%||$1,122.7|86.9%||\n|2015||||||||||\n|Attritional|$881.2|69.6%||$152.1|12.0%||$1,033.2|81.6%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$881.2|69.6%||$152.2|12.0%||$1,033.3|81.6%||\n|2014||||||||||\n|Attritional|$786.5|76.4%||$24.9|2.4%||$811.3|78.8%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$786.5|76.4%||$25.0|2.4%||$811.4|78.8%||\n|Variance 2016/2015||||||||||\n|Attritional|$18.7|0.1|pts|$21.5|1.4|pts|$40.3|1.5|pts|\n|Catastrophes|49.4|3.8|pts|-0.3|-|pts|$49.1|3.8|pts|\n|Total segment|$68.1|3.9|pts|$21.2|1.4|pts|$89.4|5.3|pts|\n|Variance 2015/2014||||||||||\n|Attritional|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|Catastrophes|-|-|pts|-|-|pts|-|-|pts|\n|Total segment|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 8.7% to $1,122.7 million in 2016 compared to $1,033.3 million in 2015 mainly due to an increase of $49.4 million in current year catastrophe losses, an increase of $21.5 million in prior years\u2019 attritional losses mainly related to run-off construction liability and umbrella program business and an increase of $18.7 million in current year attritional losses primarily related to the impact of the increase in premiums earned.", + "The $49.4 million of current year catastrophe losses in 2016 were due to the 2016 U. S. storms ($30.0 million), Hurricane Matthew ($11.0 million) and the Fort McMurray Canada wildfire ($8.4 million).", + "There were no current year catastrophe losses in 2015.", + "Incurred losses and LAE increased by 27.3% to $1,033.3 million in 2015 compared to $811.4 million in 2014, mainly due to an increase of $127.2 million in prior years\u2019 attritional losses related to run-off umbrella program and construction liability business and an increase of $94.7 million in current year attritional losses related primarily to the impact of the increase in premiums earned.", + "There were no current year catastrophe losses in 2015 and 2014.", + "Segment Expenses.", + "Commission and brokerage increased by 16.5% to $205.3 million in 2016 compared to $176.2 million in 2015.", + "The increase was mainly due to the impact of the increase in premiums earned and changes in the mix of business.", + "Segment other underwriting expenses increased to $176.8 million in 2016 compared to $136.7 million in 2015.", + "The increase was primarily due to increased expenses due to the build out of our insurance platform.", + "Commission and brokerage increased by 17.7% to $176.2 million in 2015 compared to $149.8 million in 2014.", + "The increase was primarily driven by the impact of the increase in premiums earned and the change in the mix of business.", + "Segment other underwriting expenses increased to $136.7 million in 2015 compared to $118.0 million in 2014.", + "The increase was primarily due to the impact of the increase in premiums earned and increased focus on insurance operations resulting in increased operating expenses, including new hires.", + "properly allocating responsibility and/or liability for asbestos or environmental damage; (d) changes in underlying laws and judicial interpretation of those laws; (e) the potential for an asbestos or environmental claim to involve many insurance providers over many policy periods; (f) questions concerning interpretation and application of insurance and reinsurance coverage; and (g) uncertainty regarding the number and identity of insureds with potential asbestos or environmental exposure.", + "Due to the uncertainties discussed above, the ultimate losses attributable to A&E, and particularly asbestos, may be subject to more variability than are non-A&E reserves and such variation could have a material adverse effect on our financial condition, results of operations and/or cash flows.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Notes 1 and 3 of Notes to the Consolidated Financial Statements.", + "Reinsurance Receivables.", + "We have purchased reinsurance to reduce our exposure to adverse claim experience, large claims and catastrophic loss occurrences.", + "Our ceded reinsurance provides for recovery from reinsurers of a portion of losses and loss expenses under certain circumstances.", + "Such reinsurance does not relieve us of our obligation to our policyholders.", + "In the event our reinsurers are unable to meet their obligations under these agreements or are able to successfully challenge losses ceded by us under the contracts, we will not be able to realize the full value of the reinsurance receivable balance.", + "To minimize exposure from uncollectible reinsurance receivables, we have a reinsurance security committee that evaluates the financial strength of each reinsurer prior to our entering into a reinsurance arrangement.", + "In some cases, we may hold full or partial collateral for the receivable, including letters of credit, trust assets and cash.", + "Additionally, creditworthy foreign reinsurers of business written in the U. S. , as well as capital markets\u2019 reinsurance mechanisms, are generally required to secure their obligations.", + "We have established reserves for uncollectible balances based on our assessment of the collectability of the outstanding balances.", + "As of December 31, 2016 and 2015, the reserve for uncollectible balances was $15.0 million.", + "Actual uncollectible amounts may vary, perhaps substantially, from such reserves, impacting income (loss) in the period in which the change in reserves is made.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 11 of Notes to the Consolidated Financial Statements and \u201cFinancial Condition \u2013 Reinsurance Receivables\u201d below.", + "Premiums Written and Earned.", + "Premiums written by us are earned ratably over the coverage periods of the related insurance and reinsurance contracts.", + "We establish unearned premium reserves to cover the unexpired portion of each contract.", + "Such reserves, for assumed reinsurance, are computed using pro rata methods based on statistical data received from ceding companies.", + "Premiums earned, and the related costs, which have not yet been reported to us, are estimated and accrued.", + "Because of the inherent lag in the reporting of written and earned premiums by our ceding companies, we use standard accepted actuarial methodologies to estimate earned but not reported premium at each financial reporting date.", + "These earned but not reported premiums are combined with reported earned premiums to comprise our total premiums earned for determination of our incurred losses and loss and LAE reserves.", + "Commission expense and incurred losses related to the change in earned but not reported premium are included in current period company and segment financial results.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1 of Notes to the Consolidated Financial Statements.", + "The following table displays the estimated components of net earned but not reported premiums by segment for the periods indicated.", + "||At December 31,|\n|(Dollars in millions)|2016|2015|2014|\n|U.S. Reinsurance|$385.5|$372.5|$388.3|\n|International|235.4|243.9|239.8|\n|Bermuda|258.4|253.4|208.4|\n|Total|$879.3|$869.8|$836.5|\n|(Some amounts may not reconcile due to rounding.)||||\n" + ], + "question_id": "simplong-test-30", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Pension Fundings, what's the sum of Commitment Type?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Overview U. S. economic growth, retail sales and industrial production continued at a moderate pace in 2014, which resulted in growth in the small package delivery market.", + "Continued strong growth in e-commerce and omni-channel retail sales has driven package volume increases in both commercial and residential products.", + "Given these trends, overall volume growth was strong during the year, and products most aligned with business-to-consumer and retail industry shipments experienced the fastest growth.", + "Economic conditions in Europe have deteriorated somewhat, as solid growth in the United Kingdom is being offset by slower growth in Germany and general economic weakness in France and Italy.", + "Economic growth in Asia has continued, though growth in China has moderated.", + "The uneven nature of economic growth worldwide, combined with a trend towards more intra-regional trade, has led to shifting trade patterns and resulted in overcapacity in certain trade lanes.", + "These factors have created an environment in which customers are more likely to trade-down from premium express products to standard delivery products in both Europe and Asia.", + "As a result of these circumstances, we have adjusted our air capacity and cost structure in our transportation network to better match the prevailing volume mix levels.", + "Our broad portfolio of product offerings and the flexibilities inherent in our transportation network have helped us adapt to these changing trends.", + "While the worldwide economic environment has remained challenging in 2014, we have continued to undertake several initiatives in the U. S. and internationally to (1) improve the flexibility and capacity in our delivery network; (2) improve yield management; and (3) increase operational efficiency and contain costs across all segments.", + "Most notably, the continued deployment of technology improvements (including several facility automation projects and the accelerated deployment of our On Road Integrated Optimization and Navigation system - \"ORION\") should increase our network capacity, and improve operational efficiency, flexibility and reliability.", + "Additionally, we have continued to adjust our transportation network and utilize new or expanded operating facilities to improve time-in-transit for shipments in each region.", + "Our consolidated results are presented in the table below:", + "||Year Ended December 31,|% Change|\n||2014|2013|2012|2014 / 2013|2013 / 2012|\n|Revenue (in millions)|$58,232|$55,438|$54,127|5.0%|2.4%|\n|Operating Expenses (in millions)|53,264|48,404|52,784|10.0%|-8.3%|\n|Operating Profit (in millions)|$4,968|$7,034|$1,343|-29.4%|N/A|\n|Operating Margin|8.5%|12.7%|2.5%|||\n|Average Daily Package Volume (in thousands)|18,016|16,938|16,295|6.4%|3.9%|\n|Average Revenue Per Piece|$10.58|$10.76|$10.82|-1.7%|-0.6%|\n|Net Income (in millions)|$3,032|$4,372|$807|-30.6%|N/A|\n|Basic Earnings Per Share|$3.31|$4.65|$0.84|-28.8%|N/A|\n|Diluted Earnings Per Share|$3.28|$4.61|$0.83|-28.9%|N/A|\n", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30 Revenue The change in overall revenue was impacted by the following factors for the years ended December 31, 2014 and 2013, compared with the corresponding prior year periods:", + "||Volume|Rates /Product Mix|FuelSurcharge|TotalRevenueChange|\n|Revenue Change Drivers:|||||\n|2014 / 2013|6.8%|-1.6%|\u2014%|5.2%|\n|2013 / 2012|3.7%|0.5%|-0.5%|3.7%|\n", + "Volume 2014 compared to 2013 Our total volume increased in 2014, largely due to continued solid growth in e-commerce and overall retail sales.", + "Business-to-consumer shipments, which represent more than 45% of total U. S. Domestic Package volume, grew 12% for the year and drove increases in both air and ground shipments.", + "UPS SurePost volume increased more than 45% in 2014, and accounted for approximately half of the overall volume growth for the segment.", + "Business-to-business volume grew 3% in 2014, largely due to increased volume from the retail industry, including the use of our solutions for omni-channel (including ship-from-store and ship-to-store models) and returns shipping; additionally, business-to-business volume was positively impacted by growth in shipments from the industrial, automotive and government sectors.", + "Among our air products, volume increased in 2014 for both our Next Day Air and deferred services.", + "Solid air volume growth continued for those products most aligned with business-to-consumer shipping, particularly our residential Second Day Air package product.", + "Our business-to-business air volume increased slightly as well, largely due to growth in the retail and industrial sectors.", + "This growth was slightly offset by a decline in air letter volume, which was negatively impacted by some competitive losses and slowing growth in the financial services industry.", + "The growth in premium and deferred air volume continues to be impacted by economic conditions and changes in our customers' supply chain networks; the combination of these factors influences their sensitivity towards the price and speed of shipments, and therefore favoring the use of our deferred air services.", + "The increase in ground volume in 2014 was driven by our SurePost service offering, which had a volume increase of more than 45% for the year; additionally, we experienced moderate volume growth in our traditional residential and commercial ground services.", + "Demand for SurePost and our traditional residential products continues to be driven by business\u0002to-consumer shipping activity from e-commerce retailers and other large customers.", + "The growth in business-to-business ground volume was largely due to growth in omni-channel retail volume, the increased use of our returns service offerings, and the growth in shipments from the industrial sector.2013 compared to 2012 Our overall volume increased in 2013 compared with 2012, largely due to continued solid growth in e-commerce and overall retail sales; however, the increase in volume was hindered by slow overall U. S. economic and industrial production growth.", + "Business-to-consumer shipments, which represent over 40% of total U. S. Domestic Package volume, grew approximately 8% for the year and drove increases in both air and ground shipments.", + "Growth accelerated during our peak holiday shipping season, as business-to-consumer volume grew over 11% in the fourth quarter of 2013, and business-to\u0002consumer shipments exceeded 50% of total U. S. Domestic Package volume for the first time.", + "Business-to-business volume increased slightly in 2013, largely due to increased shipping activity by the retail industry; however, business-to-business volume was negatively impacted by slowing industrial production.", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 49 Issuances of debt in 2014 and 2013 consisted primarily of longer-maturity commercial paper.", + "Issuances of debt in 2012 consisted primarily of senior fixed rate note offerings totaling $1.75 billion.", + "Repayments of debt in 2014 and 2013 consisted primarily of the maturity of our $1.0 and $1.75 billion senior fixed rate notes that matured in April 2014 and January 2013, respectively.", + "The remaining repayments of debt during the 2012 through 2014 time period included paydowns of commercial paper and scheduled principal payments on our capitalized lease obligations.", + "We consider the overall fixed and floating interest rate mix of our portfolio and the related overall cost of borrowing when planning for future issuances and non-scheduled repayments of debt.", + "We had $772 million of commercial paper outstanding at December 31, 2014, and no commercial paper outstanding at December 31, 2013 and 2012.", + "The amount of commercial paper outstanding fluctuates throughout each year based on daily liquidity needs.", + "The average commercial paper balance was $1.356 billion and the average interest rate paid was 0.10% in 2014 ($1.013 billion and 0.07% in 2013, and $962 million and 0.07% in 2012, respectively).", + "The variation in cash received from common stock issuances to employees was primarily due to level of stock option exercises in the 2012 through 2014 period.", + "The cash outflows in other financing activities were impacted by several factors.", + "Cash inflows (outflows) from the premium payments and settlements of capped call options for the purchase of UPS class B shares were $(47), $(93) and $206 million for 2014, 2013 and 2012, respectively.", + "Cash outflows related to the repurchase of shares to satisfy tax withholding obligations on vested employee stock awards were $224, $253 and $234 million for 2014, 2013 and 2012, respectively.", + "In 2013, we paid $70 million to purchase the noncontrolling interest in a joint venture that operates in the Middle East, Turkey and portions of the Central Asia region.", + "In 2012, we settled several interest rate derivatives that were designated as hedges of the senior fixed-rate debt offerings that year, which resulted in a cash outflow of $70 million.", + "Sources of Credit See note 7 to the audited consolidated financial statements for a discussion of our available credit and debt covenants.", + "Guarantees and Other Off-Balance Sheet Arrangements We do not have guarantees or other off-balance sheet financing arrangements, including variable interest entities, which we believe could have a material impact on financial condition or liquidity.", + "Contractual Commitments We have contractual obligations and commitments in the form of capital leases, operating leases, debt obligations, purchase commitments, and certain other liabilities.", + "We intend to satisfy these obligations through the use of cash flow from operations.", + "The following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of December 31, 2014 (in millions):", + "|Commitment Type|2015|2016|2017|2018|2019|After 2019|Total|\n|Capital Leases|$75|$74|$67|$62|$59|$435|$772|\n|Operating Leases|323|257|210|150|90|274|1,304|\n|Debt Principal|876|8|377|752|1,000|7,068|10,081|\n|Debt Interest|295|293|293|282|260|4,259|5,682|\n|Purchase Commitments|269|195|71|19|8|26|588|\n|Pension Fundings|1,030|1,161|344|347|400|488|3,770|\n|Other Liabilities|43|23|10|5|\u2014|\u2014|81|\n|Total|$2,911|$2,011|$1,372|$1,617|$1,817|$12,550|$22,278|\n" + ], + "question_id": "simplong-test-31", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what are the total current assets of metropolitan?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Humana Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(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\u2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows:", + "||Metropolitan (in millions)|\n|Cash and cash equivalents|$49|\n|Receivables, net|28|\n|Other current assets|40|\n|Property and equipment|22|\n|Goodwill|569|\n|Other intangible assets|263|\n|Other long-term assets|1|\n|Total assets acquired|972|\n|Current liabilities|-22|\n|Other long-term liabilities|-99|\n|Total liabilities assumed|-121|\n|Net assets acquired|$851|\n", + "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\u2014(Continued) 17.", + "EXPENSES ASSOCIATED WITH LONG-DURATION INSURANCE PRODUCTS Premiums associated with our long-duration insurance products accounted for approximately 2% of our consolidated premiums and services revenue for the year ended December 31, 2012.", + "We use long-duration accounting for products such as long-term care, life insurance, annuities, and certain health and other supplemental policies sold to individuals because they are expected to remain in force for an extended period beyond one year and because premium received in the earlier years is intended to pay anticipated benefits to be incurred in future years.", + "As a result, we defer policy acquisition costs, primarily consisting of commissions, and amortize them over the estimated life of the policies in proportion to premiums earned.", + "In addition, we establish reserves for future policy benefits in recognition of the fact that some of the premium received in the earlier years is intended to pay anticipated benefits to be incurred in future years.", + "These reserves are recognized on a net level premium method based on interest rates, mortality, morbidity, withdrawal and maintenance expense assumptions from published actuarial tables, modified based upon actual experience.", + "The assumptions used to determine the liability for future policy benefits are established and locked in at the time each contract is acquired and would only change if our expected future experience deteriorated to the point that the level of the liability, together with the present value of future gross premiums, are not adequate to provide for future expected policy benefits.", + "Long-term care policies provide for long-duration coverage and, therefore, our actual claims experience will emerge many years after assumptions have been established.", + "The risk of a deviation of the actual interest rates, morbidity rates, and mortality rates from those assumed in our reserves are particularly significant to our closed block of long-term care policies.", + "We monitor the loss experience of these long-term care policies and, when necessary, apply for premium rate increases through a regulatory filing and approval process in the jurisdictions in which such products were sold.", + "To the extent premium rate increases and/ or loss experience vary from our acquisition date assumptions, future adjustments to reserves could be required.", + "The table below presents deferred acquisition costs and future policy benefits payable associated with our long-duration insurance products for the years ended December 31, 2012 and 2011.", + "||2012|2011|\n|| Deferred acquisition costs|Future policy benefits payable| Deferred acquisition costs|Future policy benefits payable|\n||(in millions)|\n|Other long-term assets|$149|$0|$114|$0|\n|Trade accounts payable and accrued expenses|0|-63|0|-58|\n|Long-term liabilities|0|-1,858|0|-1,663|\n|Total asset (liability)|$149|$-1,921|$114|$-1,721|\n", + "In addition, future policy benefits payable include amounts of $220 million at December 31, 2012 and $224 million at December 31, 2011 which are subject to 100% coinsurance agreements as more fully described in Note 18.", + "Benefits expense associated with future policy benefits payable was $136 million in 2012, $114 million in 2011, and $266 million in 2010.", + "Benefits expense for 2012 and 2010 included net charges of $29 million and $139 million, respectively, associated with our long-term care policies discussed further below.", + "Amortization of deferred acquisition costs included in operating costs was $44 million in 2012, $34 million in 2011, and $198 million in 2010.", + "Amortization expense for 2010 included a write-down of deferred acquisition costs of $147 million discussed further below.", + "|||Change|\n||2011|2010|Dollars|Percentage|\n||(in millions)||\n| Premiums and Services Revenue:|||||\n|Premiums:|||||\n|Fully-insured commercial group|$4,782|$5,169|$-387|-7.5%|\n|Group Medicare Advantage|3,152|3,021|131|4.3%|\n|Group Medicare stand-alone PDP|8|5|3|60.0%|\n|Total group Medicare|3,160|3,026|134|4.4%|\n|Group specialty|935|885|50|5.6%|\n|Total premiums|8,877|9,080|-203|-2.2%|\n|Services|356|395|-39|-9.9%|\n|Total premiums and services revenue|$9,233|$9,475|$-242|-2.6%|\n| Income before income taxes|$242|$288|$-46|-16.0%|\n|Benefit ratio|82.4%|82.4%||0.0%|\n|Operating cost ratio|17.8%|17.5%||0.3%|\n", + "Pretax Results ?", + "Employer Group segment pretax income decreased $46 million, or 16%, to $242 million in 2011 primarily due to the impact of minimum benefit ratios required under the Health Insurance Reform Legislation which became effective in 2011.", + "Enrollment ?", + "Fully-insured commercial group medical membership decreased 72,000 members, or 5.7%, from December 31, 2010 to December 31, 2011 primarily due to continued pricing discipline in a highly competitive environment for large group business partially offset by small group business membership gains. ?", + "Group ASO commercial medical membership decreased 161,300 members, or 11.1%, from December 31, 2010 to December 31, 2011 primarily due to continued pricing discipline in a highly competitive environment for self-funded accounts.", + "Premiums revenue ?", + "Employer Group segment premiums decreased by $203 million, or 2.2%, from 2010 to $8.9 billion for 2011 primarily due to lower average commercial group medical membership year-over-year and rebates associated with minimum benefit ratios required under the Health Insurance Reform Legislation which became effective in 2011, partially offset by an increase in group Medicare Advantage membership.", + "Rebates result in the recognition of lower premiums revenue, as amounts are set aside for payments to commercial customers during the following year.", + "Benefits expense ?", + "The Employer Group segment benefit ratio of 82.4% for 2011 was unchanged from 2010 due to offsetting factors.", + "Factors increasing the 2011 ratio compared to the 2010 ratio include growth in our group Medicare Advantage products which generally carry a higher benefit ratio than our fully-insured commercial group products and the effect of rebates accrued in 2011 associated with the minimum benefit ratios required under the Health Insurance Reform Legislation.", + "Factors decreasing the 2011 ratio compared to the 2010 ratio include the beneficial effect of higher favorable prior-period medical claims reserve development in 2011 versus 2010 and lower utilization of benefits in our commercial group" + ], + "question_id": "simplong-test-32", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Commercial \u2013 domestic to the total in 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "GWIM provides a wide offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of our individual and institutional customer base.", + "Our clients have access to a range of services offered through three primary businesses: MLGWM; U. S. Trust, Bank of America Private Wealth Management (U. S. Trust); and Columbia.", + "The results of the Retirement & Philanthropic Serv\u0002ices business, the Corporation\u2019s approximate 34 percent economic ownership interest in BlackRock and other miscellaneous items are included in Other within GWIM.", + "As part of the Merrill Lynch acquisition, we added its financial advisors and an economic ownership interest of approximately 50 percent in BlackRock, a publicly traded investment management company.", + "During 2009, BlackRock completed its purchase of Barclays Global Investors, an asset management business, from Barclays PLC which had the effect of diluting our ownership interest in BlackRock and, for accounting pur\u0002poses, was treated as a sale of a portion of our ownership interest.", + "As a result, upon the closing of this transaction, the Corporation\u2019s economic ownership interest in BlackRock was reduced to approximately 34 percent and we recorded a pre-tax gain of $1.1 billion.", + "Net income increased $1.1 billion, or 78 percent, to $2.5 billion as higher total revenue was partially offset by increases in noninterest expense and provision for credit losses.", + "Net interest income increased $767 million, or 16 percent, to $5.6 billion primarily due to the acquisition of Merrill Lynch partially offset by a lower net interest income allocation from ALM activities and the impact of the migration of client balances during 2009 to Deposits and Home Loans & Insurance.", + "GWIM\u2019s average loan and deposit growth benefited from the acquisition of Merrill Lynch and the shift of client assets from off-balance sheet (e. g. , money market funds) to on-balance sheet prod\u0002ucts (e. g. , deposits) partially offset by the net migration of customer rela\u0002tionships.", + "A more detailed discussion regarding migrated customer relationships and related balances is provided in the following MLGWM discussion.", + "Noninterest income increased $9.5 billion to $12.6 billion primarily due to higher investment and brokerage services income driven by the Merrill Lynch acquisition, the $1.1 billion gain on our investment in BlackRock and the lower level of support provided to certain cash funds partially offset by the impact of lower average equity market levels and net outflows primarily in the cash complex.", + "Provision for credit losses increased $397 million, or 60 percent, to $1.1 billion, reflecting the weak economy during 2009 which drove higher net charge-offs in the consumer real estate and commercial portfolios including a single large commercial charge-off.", + "Noninterest expense increased $8.2 billion to $13.1 billion driven by the addition of Merrill Lynch and higher FDIC insurance and special assessment costs partially offset by lower revenue-related expenses.", + "Client Assets The following table presents client assets which consist of AUM, client brokerage assets, assets in custody and client deposits.", + "||December 31|\n|(Dollars in millions)|2009|2008|\n|Assets under management|$749,852|$523,159|\n|Client brokerage assets-1|1,270,461|172,106|\n|Assets in custody|274,472|133,726|\n|Client deposits|224,840|176,186|\n|Less: Client brokerage assets and assets incustody included in assets under management|-346,682|-87,519|\n| Total net client assets|$2,172,943|$917,658|\n", + "(1) Client brokerage assets include non-discretionary brokerage and fee-based assets.", + "The increase in net client assets was driven by the acquisition of Merrill Lynch and higher equity market values at December 31, 2009 compared to 2008 partially offset by outflows that primarily occurred in cash and money market assets due to increasing interest rate pressure.", + "Merrill Lynch Global Wealth Management Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined the Merrill Lynch wealth management business and our former Premier Banking & Investments business to form MLGWM.", + "MLGWM pro\u0002vides a high-touch client experience through a network of approximately 15,000 client-facing financial advisors to our affluent customers with a personal wealth profile of at least $250,000 of investable assets.", + "The addition of Merrill Lynch created one of the largest financial advisor net\u0002works in the world.", + "Merrill Lynch added $10.3 billion in revenue and $1.6 billion in net income during 2009.", + "Total client balances in MLGWM, which include deposits, AUM, client brokerage assets and other assets in cus\u0002tody, were $1.4 trillion at December 31, 2009.", + "MLGWM includes the impact of migrating customers and their related deposit and loan balances to or from Deposits and Home Loans & Insurance.", + "As of the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the segment to which the customers migrated.", + "During 2009, total deposits of $43.4 billion were migrated to Deposits from MLGWM.", + "Conversely, during 2008, total deposits of $20.5 billion were migrated from Deposits to MLGWM.", + "During 2009 and 2008, total loans of $16.6 billion and $1.7 billion were migrated from MLGWM, of which $11.5 billion and $1.6 bil\u0002lion were migrated to Home Loans & Insurance.", + "These changes in 2009 were mainly due to client segmentation threshold changes resulting from the Merrill Lynch acquisition.", + "Table 9 presents total long-term debt and other obligations at December 31, 2009.", + "|| December 31, 2009|\n|(Dollars in millions)| Due in 1 Year or Less| Due after 1 Year through 3 Years| Due after 3 Years through 5 Years| Due after 5 Years| Total|\n|Long-term debt and capital leases|$99,144|$124,054|$72,103|$143,220|$438,521|\n|Operating lease obligations|3,143|5,072|3,355|8,143|19,713|\n|Purchase obligations|11,957|3,667|1,627|2,119|19,370|\n|Other long-term liabilities|610|1,097|848|1,464|4,019|\n| Total long-term debt and other obligations|$114,854|$133,890|$77,933|$154,946|$481,623|\n", + "Debt, lease, equity and other obligations are more fully discussed in Note 13 \u2013 Long-term Debt and Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "The Plans are more fully discussed in Note 17 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "We enter into commitments to extend credit such as loan commit\u0002ments, standby letters of credit (SBLCs) and commercial letters of credit to meet the financing needs of our customers.", + "For a summary of the total unfunded, or off-balance sheet, credit extension commitment amounts by expiration date, see the table in Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "Regulatory Initiatives On November 12, 2009, the Federal Reserve issued the final rule related to changes to Regulation E and on May 22, 2009, the CARD Act was signed into law.", + "For more information on the impact of these new regu\u0002lations, see Regulatory Overview on page 29.", + "In December 2009, the Basel Committee on Banking Supervision released consultative documents on both capital and liquidity.", + "In addition, we will begin Basel II parallel implementation during the second quarter of 2010.", + "For more information, see Basel Regulatory Capital Requirements on page 64.", + "On January 21, 2010, the Federal Reserve, Office of the Comptroller of the Currency, FDIC and Office of Thrift Supervision (collectively, joint agencies) issued a final rule regarding risk-based capital and the impact of adoption of new consolidation rules issued by the FASB.", + "The final rule eliminates the exclusion of certain asset-backed commercial paper (ABCP) program assets from risk-weighted assets and provides a reser\u0002vation of authority to permit the joint agencies to require banks to treat structures that are not consolidated under the accounting standards as if they were consolidated for risk-based capital purposes commensurate with the risk relationship of the bank to the structure.", + "In addition, the final rule allows for an optional delay and phase-in for a maximum of one year for the effect on risk-weighted assets and the regulatory limit on the inclusion of the allowance for loan and lease losses in Tier 2 capital related to the assets that must be consolidated as a result of the accounting change.", + "The transitional relief does not apply to the leverage ratio or to assets in VIEs to which a bank provides implicit support.", + "We have elected to forgo the phase-in period, and accordingly, we con\u0002solidated the amounts for regulatory capital purposes as of January 1, 2010.", + "For more information on the impact of this guidance, see Impact of Adopting New Accounting Guidance on Consolidation on page 64.", + "On December 14, 2009, we announced our intention to increase lend\u0002ing to small- and medium-sized businesses to approximately $21 billion in 2010 compared to approximately $16 billion in 2009.", + "This announce\u0002ment is consistent with the U. S. Treasury\u2019s initiative, announced as part of the Financial Stability Plan on February 2, 2009, to help increase small business owners\u2019 access to credit.", + "As part of the initiative, the U. S. Treas\u0002ury began making direct purchases of up to $15 billion of certain secu\u0002rities backed by Small Business Administration (SBA) loans to improve liquidity in the credit markets and purchasing new securities to ensure that financial institutions feel confident in extending new loans to small businesses.", + "The program also temporarily raises guarantees to up to 90 percent in the SBA\u2019s loan program and temporarily eliminates certain SBA loan fees.", + "We continue to lend to creditworthy small business customers through small business credit cards, loans and lines of credit products.", + "In response to the economic downturn, the FDIC implemented the Temporary Liquidity Guarantee Program (TLGP) to strengthen confidence and encourage liquidity in the banking system by allowing the FDIC to guarantee senior unsecured debt (e. g. , promissory notes, unsubordinated unsecured notes and commercial paper) up to prescribed limits, issued by participating entities beginning on October 14, 2008, and continuing through October 31, 2009.", + "We participated in this program; however, as announced in September 2009, due to improved market liquidity and our ability to issue debt without the FDIC guarantee, we, with the FDIC\u2019s agreement, exited the program and have stopped issuing FDIC\u0002guaranteed debt.", + "At December 31, 2009, we still had FDIC-guaranteed debt outstanding issued under the TLGP of $44.3 billion.", + "The TLGP also offered the Transaction Account Guarantee Program (TAGP) that guaran\u0002teed noninterest-bearing deposit accounts held at participating FDIC\u0002insured institutions on balances in excess of $250,000.", + "We elected to opt out of the six-month extension of the TAGP which extends the program to June 30, 2010.", + "We exited the TAGP effective December 31, 2009.", + "On September 21, 2009, the Corporation reached an agreement to terminate its term sheet with the U. S. government under which the U. S. government agreed in principle to provide protection against the possi\u0002bility of unusually large losses on a pool of the Corporation\u2019s financial instruments that were acquired from Merrill Lynch.", + "In connection with the termination of the term sheet, the Corporation paid a total of $425 mil\u0002lion to the U. S. government to be allocated among the U. S. Treasury, the Federal Reserve and the FDIC.", + "In addition to exiting the TARP as discussed on page 30, terminating the U. S. Government\u2019s asset guarantee term sheet and exiting the TLGP, including the TAGP, we have exited or ceased participation in market dis\u0002ruption liquidity programs created by the U. S. government in response to the economic downturn of 2008.", + "We have exited or repaid borrowings under the Term Auction Facility, U. S. Treasury Temporary Liquidity Guaran\u0002tee Program for Money Market Funds, ABCP Money Market Fund Liquidity Facility, Commercial Paper Federal Funding Facility, Money Market Investor Funding Facility, Term Securities Lending Facility and Primary Dealer Credit Facility.", + "On November 17, 2009, the FDIC issued a final rule that required insured institutions to prepay on December 30, 2009 their estimated", + "Table 29 presents commercial credit exposure by type for utilized, unfunded and total binding committed credit exposure.", + "Commercial uti\u0002lized credit exposure includes funded loans, standby letters of credit, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which the bank is legally bound to advance funds under pre\u0002scribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial committed credit exposure decreased by $10.1 billion, or one percent, at December 31, 2009 compared to December 31, 2008.", + "The decrease was largely driven by reductions in loans and leases partially offset by an increase in derivatives due to the acquisition of Merrill Lynch.", + "Total commercial utilized credit exposure decreased to $494.4 billion at December 31, 2009 compared to $498.7 billion at December 31, 2008.", + "Funded loans and leases declined due to limited demand for acquisition financing and capital expenditures in the large corporate and middle-market portfolios and as clients utilized the improved capital markets more extensively for their funding needs.", + "With the economic outlook remaining uncertain, businesses are aggressively managing work\u0002ing capital and production capacity, maintaining low inventories and deferring capital spending.", + "The increase in derivative assets was driven by the acquisition of Merrill Lynch substantially offset during 2009 by maturing transactions, mark-to-market adjustments from changing inter\u0002est and foreign exchange rates, as well as narrower credit spreads.", + "The loans and leases funded utilization rate was 57 percent at December 31, 2009 compared to 58 percent at December 31, 2008.", + "|| December 31|\n|| Commercial Utilized-1, 2| Commercial Unfunded-1, 3, 4| Total Commercial Committed-1|\n|(Dollars in millions)| 2009|2008| 2009|2008| 2009|2008|\n|Loans and leases|$322,564|$342,767|$293,519|$300,856|$616,083|$643,623|\n|Derivative assets-5|80,689|62,252|\u2013|\u2013|80,689|62,252|\n|Standby letters of credit and financial guarantees|70,238|72,840|6,008|4,740|76,246|77,580|\n|Assets held-for-sale-6|13,473|14,206|781|183|14,254|14,389|\n|Bankers\u2019 acceptances|3,658|3,382|16|13|3,674|3,395|\n|Commercial letters of credit|2,958|2,974|569|791|3,527|3,765|\n|Foreclosed properties and other|797|328|\u2013|\u2013|797|328|\n| Total commercial credit exposure|$494,377|$498,749|$300,893|$306,583|$795,270|$805,332|\n", + "(1) At December 31, 2009, total commercial utilized, total commercial unfunded and total commercial committed exposure include $88.5 billion, $25.7 billion and $114.2 billion, respectively, related to Merrill Lynch.", + "(2) Total commercial utilized exposure at December 31, 2009 and 2008 includes loans and issued letters of credit accounted for under the fair value option and is comprised of loans outstanding of $4.9 billion and $5.4 billion, and letters of credit with a notional amount of $1.7 billion and $1.4 billion.", + "(3) Total commercial unfunded exposure at December 31, 2009 and 2008 includes loan commitments accounted for under the fair value option with a notional amount of $25.3 billion and $15.5 billion.", + "(4) Excludes unused business card lines which are not legally binding.", + "(5) Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements, and have been reduced by cash collateral of $58.4 billion and $34.8 billion at December 31, 2009 and 2008.", + "Not reflected in utilized and committed exposure is additional derivative collateral held of $16.2 billion and $13.4 billion which consists primarily of other marketable securities at December 31, 2009 and 2008.", + "(6) Total commercial committed assets held-for-sale exposure consists of $9.0 billion and $12.1 billion of commercial LHFS exposure (e. g. , commercial mortgage and leveraged finance) and $5.3 billion and $2.3 billion of assets held-for-sale exposure at December 31, 2009 and 2008.", + "Table 30 presents commercial utilized reservable criticized exposure by product type.", + "Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory author\u0002ities.", + "In addition to reservable loans and leases, excluding those accounted for under the fair value option, exposure includes SBLCs, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which we are legally bound to advance funds under prescribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial utilized reservable criticized exposure rose by $21.7 billion primarily due to increases in commercial real estate and commercial \u2013 domestic.", + "Commercial real estate increased $10.0 billion primarily due to the non-homebuilder portfolio which has been impacted by the weak economy partially offset by a decrease in the homebuilder portfolio.", + "The $9.3 billion increase in commercial \u2013 domestic reflects deterioration across various lines of business and industries, primarily in Global Banking.", + "At December 31, 2009, approximately 85 percent of the loans within criticized reservable utilized exposure are secured.", + "|| December 31|\n||2009|2008|\n|(Dollars in millions)| Amount|Percent -1|Amount|Percent-1|\n|Commercial \u2013 domestic-2|$28,259|11.66%|$18,963|7.20%|\n|Commercial real estate|23,804|32.13|13,830|19.73|\n|Commercial lease financing|2,229|10.04|1,352|6.03|\n|Commercial \u2013 foreign|2,605|7.12|1,459|3.65|\n||56,897|15.17|35,604|8.99|\n|Small business commercial \u2013 domestic|1,789|10.18|1,333|6.94|\n| Total commercial utilized reservable criticized exposure|$58,686|14.94|$36,937|8.90|\n", + "(1) Percentages are calculated as commercial utilized reservable criticized exposure divided by total commercial utilized reservable exposure for each exposure category.", + "(2) Excludes small business commercial \u2013 domestic exposure.", + "The following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs (Level 3) (in millions):", + "||December 31, 2017|\n|Beginning Balance|$78.7|\n|Gains on assets sold|0.3|\n|Change in fair value of assets|3.8|\n|Net purchases and sales|5.2|\n|Translation gain|3.0|\n|Ending Balance|$91.0|\n", + "We expect that we will have no legally required minimum funding requirements in 2018 for the qualified U. S. and Puerto Rico defined benefit retirement plans, nor do we expect to voluntarily contribute to these plans during 2018.", + "Contributions to foreign defined benefit plans are estimated to be $17.0 million in 2018 .", + "We do not expect the assets in any of our plans to be returned to us in the next year.", + "Defined Contribution Plans We also sponsor defined contribution plans for substantially all of the U. S. and Puerto Rico employees and certain employees in other countries.", + "The benefits offered under these plans are reflective of local customs and practices in the countries concerned.", + "We expensed $47.9 million, $42.5 million and $40.2 million related to these plans for the years ended December 31, 2017, 2016 and 2015, respectively.15.", + "Income Taxes 2017 Tax Act: The President signed U. S. tax reform legislation (\u201c2017 Tax Act\u201d) on December 22, 2017, which is considered the enactment date.", + "The 2017 Tax Act includes a broad range of provisions, many of which significantly differ from those contained in previous U. S. tax law.", + "Changes in tax law are accounted for in the period of enactment.", + "As such, our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 Tax Act.", + "The 2017 Tax Act contains several key provisions including, among other things: ?", + "a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits (E&P), referred to as the toll charge; ?", + "a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017; ?", + "the introduction of a new U. S. tax on certain off-shore earnings referred to as global intangible low-taxed income (GILTI) at an effective tax rate of 10.5 percent for tax years beginning after December 31, 2017 (increasing to 13.125 percent for tax years beginning after December 31, 2025), with a partial offset by foreign tax credits; and ?", + "the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries.", + "During the fourth quarter of 2017, we recorded an income tax benefit of $1,272.4 million, which was comprised of the following: ?", + "income tax benefit of $715.0 million for the one-time deemed repatriation of foreign earnings.", + "This is composed of a $1,181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 Tax Act offset by $466.0 million for the toll charge recognized under the 2017 Tax Act.", + "In accordance with the 2017 Tax Act, we expect to elect to pay the toll charge in installments over eight years.", + "As of December 31, 2017, we have recorded current and non-current income tax liabilities related to the toll charge of $82.0 million and $384.0 million, respectively. ?", + "an income tax benefit of $557.4 million, primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent.", + "The net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 Tax Act as of the time of filing this Annual Report on Form 10-K. We further refined our estimates related to the impact of the 2017 Tax Act subsequent to the issuance of our earnings release for the fourth quarter of 2017.", + "In accordance with authoritative guidance issued by the SEC, the income tax effect for certain aspects of the 2017 Tax Act represent provisional amounts for which our accounting is incomplete, but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017.", + "The actual effects of the 2017 Tax Act and final amounts recorded may differ materially from our current estimate of provisional amounts due to, among other things, further interpretive guidance that may be issued by U. S. tax authorities or regulatory bodies, including the SEC and the FASB.", + "We will continue to analyze the 2017 Tax Act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period, which ends in the fourth quarter of 2018.", + "We continue to evaluate the impacts of the 2017 Tax Act and consider the amounts recorded to be provisional.", + "In addition, we are still evaluating the GILTI provisions of the 2017 Tax Act and their impact, if any, on our consolidated financial statements as of December 31, 2017.", + "The FASB allows companies to adopt an accounting policy to either recognize deferred taxes for GILTI or treat such as a tax cost in the year incurred.", + "We have not yet determined which accounting policy to adopt because determining the impact of the GILTI provisions requires analysis of our existing legal entity structure, the reversal of our U. S. GAAP and U. S. tax basis differences in the assets and liabilities of our foreign subsidiaries, and our ability to offset any tax with foreign tax credits.", + "As such, we did not record a deferred income tax" + ], + "question_id": "simplong-test-33", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average of the Fixed-rate in the years where Total Commercial Banking is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "existing short-term and long-term commitments and plans, and also to provide adequate financial flexibility to take advantage of potential strategic business opportunities should they arise within the next year.", + "However, there can be no assurance of the cost or availability of future borrowings, if any, under our commercial paper program, in the debt markets or our credit facilities.", + "At December 31, 2016 and 2015, our pension plans were $20.1 billion and $17.9 billion underfunded as measured under GAAP.", + "On an Employee Retirement Income Security Act (ERISA) basis our plans are more than 100% funded at December 31, 2016 with minimal required contributions in 2017.", + "We expect to make contributions to our plans of approximately $0.5 billion in 2017.", + "We may be required to make higher contributions to our pension plans in future years.", + "At December 31, 2016, we were in compliance with the covenants for our debt and credit facilities.", + "The most restrictive covenants include a limitation on mortgage debt and sale and leaseback transactions as a percentage of consolidated net tangible assets (as defined in the credit agreements), and a limitation on consolidated debt as a percentage of total capital (as defined).", + "When considering debt covenants, we continue to have substantial borrowing capacity.", + "Contractual Obligations The following table summarizes our known obligations to make future payments pursuant to certain contracts as of December 31, 2016, and the estimated timing thereof.", + "|(Dollars in millions)|Total|Lessthan 1year|1-3years|3-5years|After 5years|\n|Long-term debt (including current portion)|$9,945|$327|$1,911|$1,840|$5,867|\n|Interest on debt-1|5,656|459|872|691|3,634|\n|Pension and other postretirement cash requirements|15,476|779|3,412|3,969|7,316|\n|Capital lease obligations|144|60|64|13|7|\n|Operating lease obligations|1,494|239|400|235|620|\n|Purchase obligations not recorded on the Consolidated Statements of Financial Position|107,564|38,458|31,381|20,478|17,247|\n|Purchase obligations recorded on the Consolidated Statements of Financial Position|17,415|16,652|746|3|14|\n|Total contractual obligations-2|$157,694|$56,974|$38,786|$27,229|$34,705|\n", + "(1) Includes interest on variable rate debt calculated based on interest rates at December 31, 2016.", + "Variable rate debt was 3% of our total debt at December 31, 2016.", + "(2) Excludes income tax matters.", + "As of December 31, 2016, our net liability for income taxes payable, including uncertain tax positions of $1,557 million, was $1,169 million.", + "For further discussion of income taxes, see Note 4 to our Consolidated Financial Statements.", + "We are not able to reasonably estimate the timing of future cash flows related to uncertain tax positions.", + "Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to ERISA regulations, although we may make additional discretionary contributions.", + "Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts.", + "Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable, or indexed price provision; and specify approximate timing of the transaction.", + "Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position.", + "2007: The gain from asset sales relates to the sale of the Corporation\u2019s interests in the Scott and Telford fields in the United Kingdom North Sea.", + "The charge for asset impairments relates to two mature fields also in the United Kingdom North Sea.", + "The estimated production imbalance settlements represent a charge for adjustments to prior meter readings at two offshore fields, which are recorded as a reduction of sales and other operating revenues.2006: The gains from asset sales relate to the sale of certain United States oil and gas producing properties located in the Permian Basin in Texas and New Mexico and onshore Gulf Coast.", + "The accrued office closing cost relates to vacated leased office space in the United Kingdom.", + "The related expenses are reflected principally in general and administrative expenses.", + "The income tax adjustment represents a one-time adjustment to the Corporation\u2019s deferred tax liability resulting from an increase in the supplementary tax on petroleum operations in the United Kingdom from 10% to 20%.", + "The Corporation\u2019s future Exploration and Production earnings may be impacted by external factors, such as political risk, volatility in the selling prices of crude oil and natural gas, reserve and production changes, industry cost inflation, exploration expenses, the effects of weather and changes in foreign exchange and income tax rates.", + "Marketing and Refining Earnings from Marketing and Refining activities amounted to $277 million in 2008, $300 million in 2007 and $394 million in 2006.", + "After considering the liquidation of LIFO inventories reflected in the table on page 21 and discussed below, the earnings were $277 million, $276 million and $394 million, respectively.", + "Refining: Refining earnings, which consist of the Corporation\u2019s share of HOVENSA\u2019s results, Port Reading earnings, interest income on a note receivable from PDVSA and results of other miscellaneous operating activities, were $73 million in 2008, $193 million in 2007, and $240 million in 2006.", + "The Corporation\u2019s share of HOVENSA\u2019s net income was $27 million ($44 million before income taxes) in 2008, $108 million ($176 million before income taxes) in 2007 and $124 million ($201 million before income taxes) in 2006.", + "The lower earnings in 2008 and 2007, compared with the respective prior years, were principally due to lower refining margins.", + "The 2008 utilization rate for the fluid catalytic cracking unit at HOVENSA reflects lower utilization due to weak refining margins, planned and unplanned maintenance of certain units, and a refinery wide shut down for Hurricane Omar.", + "In 2007, the coker unit at HOVENSAwas shutdown for approximately 30 days for a scheduled turnaround.", + "Certain related processing units were also included in this turnaround.", + "In 2006, the fluid catalytic cracking unit at HOVENSA was shutdown for approximately 22 days of unscheduled maintenance.", + "Cash distributions received by the Corporation from HOVENSA were $50 million in 2008, $300 million in 2007 and $400 million in 2006.", + "Pre-tax interest income on the PDVSA note was $4 million, $9 million and $15 million in 2008, 2007 and 2006, respectively.", + "Interest income is reflected in other income in the income statement.", + "At December 31, 2008, the remaining balance of the PDVSA note was $15 million, which was fully repaid in February 2009.", + "Port Reading and other after-tax refining earnings were $43 million in 2008, $79 million in 2007 and $107 million in 2006, also reflecting lower refining margins.", + "The following table summarizes refinery utilization rates:", + "||| Refinery Utilization|\n|| 2008| 2007| 2006|\n|HOVENSA||||||\n|Crude|500|| 88.2%|90.8%|89.7%|\n|Fluid catalytic cracker|150|| 72.7%|87.1%|84.3%|\n|Coker|58|| 92.4%|83.4%|84.3%|\n|Port Reading|70|*| 90.7%|93.2%|97.4%|\n", + "* Refinery utilization in 2007 and 2006 is based on capacity of 65 thousand barrels per day", + "Lending Activities People\u2019s United Financial conducts its lending activities principally through its Commercial Banking and Retail and Business Banking operating segments.", + "People\u2019s United Financial\u2019s lending activities consist of originating loans secured by commercial and residential properties, and extending secured and unsecured loans to commercial and consumer customers.", + "Total loans increased $2.65 billion in 2013 compared to 2012 and increased $1.35 billion in 2012 compared to 2011.", + "People\u2019s United Financial acquired loans with fair values of $1.87 billion in 2011 and $3.49 billion in 2010.", + "Loans acquired in connection with business combinations beginning in 2010 are referred to as \u2018acquired\u2019 loans as a result of the manner in which they are accounted for (see further discussion under \u2018Acquired Loans\u2019 in Note 1 to the Consolidated Financial Statements).", + "All other loans are referred to as \u2018originated\u2019 loans.", + "At December 31, 2013 and 2012, the carrying amount of the acquired loan portfolio totaled $1.53 billion and $2.24 billion, respectively.", + "The following table summarizes the loan portfolio before deducting the allowance for loan losses:", + "|As of December 31 (in millions)|2013|2012|2011|2010|2009|\n|Commercial Banking:||||||\n|Commercial real estate -1|$8,921.6|$7,294.2|$7,172.2|$7,306.3|$5,399.4|\n|Commercial and industrial -1|6,302.1|6,047.7|5,352.6|3,095.6|2,805.7|\n|Equipment financing|2,593.1|2,352.3|2,014.2|2,095.4|1,236.8|\n|Total Commercial Banking|17,816.8|15,694.2|14,539.0|12,497.3|9,441.9|\n|Retail:||||||\n|Residential mortgage:||||||\n|Adjustable-rate|3,895.3|3,335.2|2,947.7|2,117.9|2,230.2|\n|Fixed-rate|521.3|550.9|680.7|529.6|182.4|\n|Total residential mortgage|4,416.6|3,886.1|3,628.4|2,647.5|2,412.6|\n|Consumer:||||||\n|Home equity|2,084.6|2,051.5|2,057.7|1,976.8|1,986.3|\n|Other consumer|72.3|104.8|159.7|201.1|258.7|\n|Total consumer|2,156.9|2,156.3|2,217.4|2,177.9|2,245.0|\n|Total Retail|6,573.5|6,042.4|5,845.8|4,825.4|4,657.6|\n|Total loans|$24,390.3|$21,736.6|$20,384.8|$17,322.7|$14,099.5|\n", + "(1) Following the Company\u2019s 2010 acquisitions and core system conversion, the Company undertook a portfolio review to ensure consistent classification of commercial loans in an effort to align policy across the Company\u2019s expanded franchise and better conform to industry practice for such loans.", + "As a result, approximately $875 million of loans secured, in part, by owner-occupied commercial properties were reclassified from commercial real estate loans to commercial and industrial loans as of March 31, 2011.", + "The primary collateral for these loans generally consists of the borrower\u2019s general business assets (i. e. non-real estate collateral) and the loans were underwritten principally on the basis of the adequacy of business cash flows.", + "This reclassification is being applied prospectively as it was deemed impracticable to do so for prior periods due to the fact that the underlying loan information is no longer available as it previously resided on legacy loan systems that are no longer utilized or supported following the Company\u2019s core system conversion.", + "shipment volumes.", + "Plywood prices increased from 2006, providing a partial offset to the lower prices realized for OSB.", + "\u2013 The contribution from engineered I-joists and engineered solid section declined $180 million \u2013 about 50 percent from lower price realizations and 50 percent from reduced shipment volumes.", + "\u2013 The contribution from sales of other building products declined approximately $40 million primarily as a result of reduced shipment volumes due to the decline in demand.", + "?The net effect of legal settlements adversely affected the segment by $483 million.2007 included $21 million of charges for legal settlements.2006 included income of $462 million, including: \u2013 $344 million of income from refunds of countervailing and anti-dumping deposits relating to the softwood lumber dispute between the U. S. and Canada, \u2013 $95 million of income from a reversal of the reserve for alder antitrust litigation and \u2013 $23 million of income from a reduction in the reserve for hardboard siding claims.", + "?Charges resulting from the closure or sale of various manu\u0002facturing facilities and distribution locations.", + "?Gains on the sale of operations declined by $51 million as 2006 included the sale of the North American composite panel operations and 2007 had no comparable activity.", + "These decreases were partially offset by lower raw material, manufacturing, and selling and general administrative costs, which increased the contribution to earnings by approximately $290 million.", + "OUR OUTLOOK The segment recognized a fourth-quarter loss of $960 million, which included $761 million of charges for asset impairments, closures and restructuring activities.", + "The operating results reflected significantly lower prices for lumber and oriented strand board and reduced sales volumes as a result of the continued decline in the housing market.", + "We expect challenging housing market conditions to continue into the first quarter 2009 and expect first-quarter results for the segment to be comparable to the fourth quarter of 2008, excluding asset impairment, closure and restructuring charges.", + "CELLULOSE FIBERS HOW WE DID IN 2008 We report sales volume and annual production data for our Cellulose Fibers business segment in Our Business/What We Do/Cellulose Fibers.", + "Here is a comparison of net sales and revenues and con\u0002tribution to earnings for the last three years: Net Sales and Revenues and Contribution to Earnings for Cellulose Fibers" + ], + "question_id": "simplong-test-34", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Amount for Credit Card (a) in 2012? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (Continued) Corporate Investments", + "||For the fiscal years ended October 31,|\n||2019|2018|2017|\n||Dollars in millions|\n|Net revenue|$507|$543|$553|\n|Loss from operations|$-108|$-91|$-91|\n|Loss from operations as a % of net revenue|-21.3%|-16.8%|-16.5%|\n", + "Fiscal 2019 compared with Fiscal 2018 Corporate Investments net revenue decreased by $36 million, or 6.6% (decreased 4.4% on a constant currency bases), in fiscal 2019 as compared to fiscal 2018.", + "The decrease in Corporate Investments net revenue was due to lower services revenue from the Communications and Media Solutions (\u2018\u2018CMS\u2019\u2019) business and unfavorable currency fluctuations.", + "Corporate Investments loss from operations as a percentage of net revenue increased 4.5 percentage points in fiscal 2019 as compared to fiscal 2018, due primarily to higher R&D expenses from Hewlett Packard Labs and a legal settlement expense in the CMS business, partially offset by a higher gross margin from the CMS business.", + "Fiscal 2018 compared with Fiscal 2017 Corporate Investments net revenue decreased by $10 million, or 1.8% (decreased 4.0% on a constant currency bases), in fiscal 2018 as compared to fiscal 2017.", + "The decrease in Corporate Investments net revenue, was due to lower services revenue from the CMS business.", + "Corporate Investments loss from operations as a percentage of net revenue increased 0.3 percentage points in fiscal 2018 as compared to fiscal 2017, due primarily to the net revenue decline and a lower gross margin partially offset by lower R&D expenses from Hewlett Packard Labs, lower field selling costs and administrative expense from the CMS business.", + "We use cash generated by operations as our primary source of liquidity.", + "We believe that internally generated cash flows will be generally sufficient to support our operating businesses, capital expenditures, product development initiatives, acquisition and disposal activities including legal settlements, restructuring activities, transformation costs, indemnifications, maturing debt, interest payments, income tax payments, in addition to any future investments and any future share repurchases, and future stockholder dividend payments.", + "We expect to supplement this short-term liquidity, if necessary, by accessing the capital markets, issuing commercial paper, and borrowing under credit facilities made available by various domestic and foreign financial institutions.", + "However, our access to capital markets may be constrained and our cost of borrowing may increase under certain business, market and economic conditions.", + "Our liquidity is subject to various risks including the risks identified in the section entitled \u2018\u2018Risk Factors\u2019\u2019 in Item 1A and market risks identified in the section entitled \u2018\u2018Quantitative and Qualitative Disclosures about Market Risk\u2019\u2019 in Item 7A, each of which is incorporated herein by reference.", + "Our cash balances are held in numerous locations throughout the world, with a substantial amount held outside of the U. S. We utilize a variety of planning and financing strategies in an effort to ensure that our worldwide cash is available when and where it is needed.", + "Our cash position is strong and we expect that our cash balances, anticipated cash flow generated from operations and access to capital markets will be sufficient to cover our expected near-term cash outlays.", + "CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS \u2013 A summary of our borrowings and known or estimated contractual obligations as of April 30, 2018, and the timing and effect that such commitments are expected to have on our liquidity and capital requirements in future periods is as follows:", + "||Total|Less Than1 Year|1 - 3 Years|4 - 5 Years|After 5 Years|\n|Long-term debt (including future interest payments)|$1,841,887|$72,688|$781,969|$591,292|$395,938|\n|Contingent acquisition payments|12,060|6,979|5,081|\u2014|\u2014|\n|Capital lease obligations|5,628|1,026|2,197|2,405|\u2014|\n|Operating leases|820,905|230,163|401,809|155,120|33,813|\n|One-time transition tax liability|17,721|2,448|4,053|3,795|7,425|\n|Guaranty on Refund Advance loans|1,571|1,571|\u2014|\u2014|\u2014|\n|Total contractual cash obligations|$2,699,772|$314,875|$1,195,109|$752,612|$437,176|\n", + "The table above does not reflect unrecognized tax benefits of approximately $186 million due to the high degree of uncertainty regarding the future cash flows associated with these amounts.", + "In connection with our agreement with BofI, we are required to purchase a 90% participation interest, at par, in all EAs originated by our lending partner.", + "During fiscal year 2018, we decided to permanently close approximately 400 tax offices after this year's tax season and, as a result, wrote off $7.4 million in related leasehold improvements, furniture and signage.", + "In conjunction with these office closures, we expect to incur $15 million to $20 million of expense in fiscal year 2019 as we exit the related operating leases.", + "See discussion of contractual obligations and commitments in Item 8, within the notes to the consolidated financial statements.", + "REGULATORY ENVIRONMENT \u2013 The federal government, various state, local, provincial and foreign governments, and some self-regulatory organizations have enacted statutes and ordinances, or adopted rules and regulations, regulating aspects of our business.", + "These aspects include, but are not limited to, commercial income tax return preparers, income tax courses, the electronic filing of income tax returns, the offering of RTs, privacy, consumer protection, franchising, sales methods and banking.", + "We determine the applicability of such statutes, ordinances, rules and regulations (collectively, Laws) and work to comply with those Laws that are applicable to us or our services or products.", + "On November 17, 2017, the CFPB officially published the Payday Rule.", + "Certain limited provisions of the Payday Rule became effective on January 16, 2018, but most provisions do not become effective until August 19, 2019.", + "However, on January 16, 2018, the CFPB stated its intention to engage in a rulemaking process so that the CFPB may reconsider the Payday Rule, and industry groups have filed lawsuits challenging the rule.", + "Given these developments, we are unsure whether, and in what form, the Payday Rule will go into effect.", + "Depending on the outcome of the rulemaking process and litigation, which may include the Payday Rule becoming effective in its current form, the Payday Rule may have a material adverse impact on the EA product, our business, and our consolidated financial position, results of operations, and cash flows.", + "We will continue to analyze the potential impact on the Company as the CFPB\u2019s rulemaking process progresses.", + "On October 5, 2016, the CFPB released the Prepaid Card Rule.", + "The Prepaid Card Rule was scheduled to take effect on April 1, 2018, with certain provisions phased in over time following that date.", + "However, on January 25, 2018, the CFPB amended the Prepaid Card Rule and extended the general effective date until April 1, 2019.", + "Once effective, the Prepaid Card Rule will apply to the Emerald Card.", + "The Prepaid Card Rule, among other things: (i) requires consumer disclosures to be made prior to acquiring a prepaid account; (ii) requires periodic statements or online access to specified account information; and (iii) requires online posting of the Cardholder Agreement and submission of new and revised Cardholder Agreements to the CFPB.", + "We do not expect that the Prepaid Card Rule will have a material adverse effect on our business or our consolidated financial position, results of operations, and cash flows.", + "From time to time in the ordinary course of business, we receive inquiries from governmental and self-regulatory agencies regarding the applicability of Laws to our services and products.", + "In response to past inquiries, we have", + "Table 70: Credit Card and Other Consumer Loan Classes Asset Quality Indicators", + "||Credit Card (a)|Other Consumer (b)|\n|Dollars in millions|Amount|% of Total Loans Using FICO Credit Metric|Amount|% of Total Loans Using FICO Credit Metric|\n| December 31, 2012|||||\n|FICO score greater than 719|$2,247|52%|$7,006|60%|\n|650 to 719|1,169|27|2,896|25|\n|620 to 649|188|5|459|4|\n|Less than 620|271|6|602|5|\n|No FICO score available or required (c)|428|10|741|6|\n|Total loans using FICO credit metric|4,303|100%|11,704|100%|\n|Consumer loans using other internal credit metrics (b)|||9,747||\n|Total loan balance|$4,303||$21,451||\n|Weighted-average updated FICO score (d)||726||739|\n|December 31, 2011|||||\n|FICO score greater than 719|$2,016|51%|$5,556|61%|\n|650 to 719|1,100|28|2,125|23|\n|620 to 649|184|5|370|4|\n|Less than 620|284|7|548|6|\n|No FICO score available or required (c)|392|9|574|6|\n|Total loans using FICO credit metric|3,976|100%|9,173|100%|\n|Consumer loans using other internal credit metrics (b)|||9,993||\n|Total loan balance|$3,976||$19,166||\n|Weighted-average updated FICO score (d)||723||739|\n", + "(a) At December 31, 2012, we had $36 million of credit card loans that are higher risk (i. e. , loans with both updated FICO scores less than 660 and in late stage (90+ days) delinquency status).", + "The majority of the December 31, 2012 balance related to higher risk credit card loans is geographically distributed throughout the following areas: Ohio 18%, Pennsylvania 14%, Michigan 12%, Illinois 8%, Indiana 6%, Florida 6%, New Jersey 5%, Kentucky 4%, and North Carolina 4%.", + "All other states, none of which comprise more than 3%, make up the remainder of the balance.", + "At December 31, 2011, we had $49 million of credit card loans that are higher risk.", + "The majority of the December 31, 2011 balance related to higher risk credit card loans is geographically distributed throughout the following areas: Ohio 20%, Michigan 14%, Pennsylvania 13%, Illinois 7%, Indiana 7%, Florida 6% and Kentucky 5%.", + "All other states, none of which comprise more than 4%, make up the remainder of the balance.", + "(b) Other consumer loans for which updated FICO scores are used as an asset quality indicator include nongovernment guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans.", + "Other consumer loans (or leases) for which other internal credit metrics are used as an asset quality indicator include primarily government guaranteed or insured education loans, as well as consumer loans to high net worth individuals and pools of auto loans (and leases) financed for PNC clients via securitization facilities.", + "Other internal credit metrics may include delinquency status, geography, loan to value, asset concentrations, loss coverage multiples, net loss rates or other factors as well as servicer quality reviews associated with the securitizations or other factors.", + "(c) Credit card loans and other consumer loans with no FICO score available or required refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO (e. g. , recent profile changes), cards issued with a business name, and/or cards secured by collateral.", + "Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes actions to mitigate the credit risk.", + "(d) Weighted-average updated FICO score excludes accounts with no FICO score available or required.", + "DEVON ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) Debt maturities as of December 31, 2013, excluding premiums and discounts, are as follows (in millions):", + "|2014|$4,067|\n|2015|\u2014|\n|2016|500|\n|2017|750|\n|2018|125|\n|2019 and thereafter|6,600|\n|Total|$12,042|\n", + "Credit Lines Devon has a $3.0 billion syndicated, unsecured revolving line of credit (the \u201cSenior Credit Facility\u201d) that matures on October 24, 2018.", + "However, prior to the maturity date, Devon has the option to extend the maturity for up to one additional one-year period, subject to the approval of the lenders.", + "Amounts borrowed under the Senior Credit Facility may, at the election of Devon, bear interest at various fixed rate options for periods of up to twelve months.", + "Such rates are generally less than the prime rate.", + "However, Devon may elect to borrow at the prime rate.", + "The Senior Credit Facility currently provides for an annual facility fee of $3.8 million that is payable quarterly in arrears.", + "As of December 31, 2013, there were no borrowings under the Senior Credit Facility.", + "The Senior Credit Facility contains only one material financial covenant.", + "This covenant requires Devon\u2019s ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65 percent.", + "The credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements.", + "Also, total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments.", + "As of December 31, 2013, Devon was in compliance with this covenant with a debt-to\u0002capitalization ratio of 25.7 percent.", + "Commercial Paper Devon has access to $3.0 billion of short-term credit under its commercial paper program.", + "Commercial paper debt generally has a maturity of between 1 and 90 days, although it can have a maturity of up to 365 days, and bears interest at rates agreed to at the time of the borrowing.", + "The interest rate is generally based on a standard index such as the Federal Funds Rate, LIBOR, or the money market rate as found in the commercial paper market.", + "As of December 31, 2013, Devon\u2019s weighted average borrowing rate on its commercial paper borrowings was 0.30 percent.", + "Other Debentures and Notes Following are descriptions of the various other debentures and notes outstanding at December 31, 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 $2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately", + "Results of Operations \u2013 Capital Markets The following table presents consolidated financial information for the Capital Markets segment for the years indicated:", + "||Year Ended|\n||September 30, 2007|% Incr. (Decr.)|September 30, 2006|% Incr. (Decr.)|September 30, 2005|\n||($ in 000's)|\n|Revenues:||||||\n|Institutional Sales Commissions:||||||\n|Equity|$ 210,343|-3%|$ 217,840|13%|$ 193,001|\n|Fixed Income|44,454|6%|41,830|-37%|66,431|\n|Underwriting Fees|93,712|11%|84,303|8%|77,900|\n|Mergers & Acquisitions Fees|59,929|34%|44,693|5%|42,576|\n|Private Placement Fees|2,262|-3%|2,334|-56%|5,338|\n|Trading Profits|9,262|-58%|21,876|15%|19,089|\n|Raymond James Tax Credit Funds|35,123|11%|31,710|19%|26,630|\n|Interest|46,772|29%|36,311|74%|20,847|\n|Other|4,641|-29%|6,522|95%|3,339|\n|Total Revenue|506,498|4%|487,419|7%|455,151|\n|Interest Expense|56,841|23%|46,126|133%|19,838|\n|Net Revenues|449,657|2%|441,293|1%|435,313|\n|Non-Interest Expenses||||||\n|Sales Commissions|98,903|2%|96,649|-3%|99,223|\n|Admin & Incentive Comp and Benefit Costs|204,512|2%|200,453|2%|197,170|\n|Communications and Information Processing|32,366|20%|27,084|13%|24,071|\n|Occupancy and Equipment|13,196|9%|12,073|-4%|12,563|\n|Business Development|23,468|6%|22,177|17%|18,995|\n|Clearance and Other|23,054|16%|19,907|38%|14,395|\n|Total Non-Interest Expense|395,499|5%|378,343|3%|366,417|\n|Income Before Taxes and Minority Interest|54,158|-14%|62,950|-9%|68,896|\n|Minority Interest|-14,808||-15,271||-8,437|\n|Pre-tax Earnings|$ 68,966|-12%|$ 78,221|1%|$ 77,333|\n", + "Year ended September 30, 2007 Compared with the Year ended September 30, 2006 \u2013 Capital Markets The Capital Markets segment pre-tax earnings declined 12% despite a 2% increase in net revenues.", + "Commission revenue was down slightly, the net of a decline in equity commissions related to the decline in commissions generated by underwriting transactions, and an increase in fixed income commissions, a result of the increased volatility.", + "Commissions generated by underwriting transactions reached a record $41 million in the prior year and were only $22 million in the current year.", + "The increase in underwriting fees included increases of $3 million at RJA, despite a decline in the number of deals from 97 to 78, and $3 million at RJ Ltd. on 30 deals versus 29 in the prior year.", + "Merger and acquisition fees were up $15 million, reaching an all time record level of $60 million for the year.", + "During fiscal 2007, RJA closed 15 individual merger and acquisition transactions with fees in excess of $1 million.", + "Trading profits were down 58% from the prior year, reflecting a particularly difficult fixed income trading environment during the fourth quarter.", + "As credit issues drove fixed income product values down there was a flight to quality and the firm\u2019s economic hedges (short positions in US Treasuries) contributed additional losses.", + "Meanwhile, there were also increased losses in equity customer facilitations and OTC market making.", + "Raymond James Tax Credit Fund (\u201cRJTCF\u201d) revenues increased 11% as they invested $375 million for institutional investors versus $277 million in the prior year.", + "Interest revenue increased related to higher average fixed income inventory levels.", + "Expenses were generally in line with revenue growth with two exceptions.", + "Communications and information processing increased predominantly due to increased costs associated with market information systems and software development costs.", + "Other expense reflects a shift to the use of electronic and other non-exchange clearing methods and includes transaction related underwriting expenses incurred by RJTCF.", + "Year ended September 30, 2006 Compared with the Year ended September 30, 2005 \u2013 Capital Markets The Capital Markets segment\u2019s revenues and pre-tax profits increased just slightly from the prior year\u2019s record results.", + "Commission revenues in the segment were flat, as a 37% decline in fixed income commissions was offset by the 13% increase in institutional equity commissions, the latter continuing to be fueled by an active new issue market.", + "RJA equity market conditions remained strong, allowing RJA to complete 97 managed or co-managed domestic underwritings, just one short of the record 98 underwritings completed in fiscal 2005. RJ Ltd. completed a record 29 managed or co-managed underwritings, up nine from fiscal 2005.", + "Merger and acquisition fees increased modestly from the prior year's record level, offsetting the decline in private placement fees.", + "Equity Capital Market's most active strategic business units in fiscal 2006 were Energy, Technology, Financial Services and Real Estate.", + "increased taxes, licenses and fees by $25 million.", + "These factors combined to result in a 0.5 point negative impact on the Personal segment\u2019s 2005 underwriting expense ratio.", + "In 2004, the 1.2 increase in the underwriting expense ratio over 2003 reflected the impact of the same investments described above." + ], + "question_id": "simplong-test-35", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Total loans in terms of Card Member loans, what is the growth rate of Average loans in terms of Card Member loans?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Overall, billed business increased in 2017 compared to 2016.", + "U. S. billed business increased 1 percent and non-U.", + "S. billed business increased 12 percent.", + "See Tables 5 and 6 for more details on billed business performance.", + "The average discount rate was 2.43 percent, 2.45 percent and 2.46 percent for 2017, 2016 and 2015, respectively.", + "The decrease in the average discount rate in 2017 compared to 2016 primarily reflected rate pressure from merchant negotiations, including those resulting from the recent regulatory changes affecting competitor pricing in certain international markets, the continued growth of the OptBlue program, and changes in industry and geographic mix.", + "We expect the average discount rate will continue to decline over time due to a greater shift of existing merchants into OptBlue, merchant negotiations and competition, volume related pricing discounts, certain pricing initiatives mainly driven by pricing regulation (including regulation of competitors\u2019 interchange rates) and other factors.", + "Net card fees increased in both periods.", + "The increase in 2017 was primarily driven by growth in the Platinum and Delta portfolios and growth in key international markets.", + "The increase in 2016 was primarily driven by growth in the Platinum, Gold and Delta portfolios.", + "Other fees and commissions increased in 2017 compared to 2016, and decreased in 2016 compared to 2015.", + "The increase in 2017 was primarily driven by an increase in delinquency fees due to a change in the late fee assessment date for certain U. S. charge cards and an increase in foreign exchange conversion revenue.", + "The decrease in 2016 was primarily due to lower Costco-related fees, partially offset by an increase in delinquency and loyalty coalition-related fees.", + "Other revenues decreased in 2017 compared to 2016, and were relatively flat in 2016 compared to 2015.", + "The decrease in 2017 was primarily driven by prior-year revenues related to the Loyalty Edge business, which was sold in the fourth quarter of 2016, and a contractual payment from a GNS partner also in the prior year.2016 included the previously-mentioned contractual payment from a GNS partner and higher revenues from our Prepaid Services business compared to 2015, offset by lower revenues related to Costco, Loyalty Edge and the GBT JV transition services agreement.", + "Interest income increased in 2017 compared to 2016 and decreased in 2016 compared to 2015.", + "The increase in 2017 primarily reflected higher average Card Member loans and higher yields.", + "The growth in average Card Member loans was primarily driven by a mix shift over time towards non-cobrand lending products, where Card Members tend to revolve more of their loan balances.", + "The increase in yields was primarily driven by a greater percentage of loans at higher rate buckets, specific pricing actions, and increases in benchmark interest rates.", + "The decrease in 2016 was primarily driven by lower Costco cobrand loans and the associated interest income, partially offset by modestly higher yields and an increase in average Card Member loans across other lending products.", + "Interest expense increased in both periods.", + "The increase in 2017 was primarily driven by higher interest rates and higher average long-term debt.", + "The increase in 2016 was primarily driven by higher average customer deposit balances, partially offset by lower average long-term debt.", + "TABLE 3: PROVISIONS FOR LOSSES SUMMARY", + "|Years Ended December 31,||||||\n|(Millions, except percentages)|2017|2016|2015|\n|Charge card|$795|$696|$737|$99|14%|$-41|-6%|\n|Card Member loans|1,868|1,235|1,190|633|51|45|4|\n|Other|96|95|61|1|1|34|56|\n|Total provisions for losses(a)|$2,759|$2,026|$1,988|$733|36%|$38|2%|\n", + "(a) Beginning December 1, 2015 through to the sale completion dates, did not reflect the HFS portfolios.", + "EXPENSES Marketing, promotion, rewards, Card Member services and other expenses increased in 2017 compared to 2016, reflecting higher Card Member rewards and Card Member services and other expenses, partially offset by lower marketing and promotion expenses.", + "Card Member rewards expense increased $218 million, primarily driven by enhancements to Platinum rewards and increased spending volumes, partially offset by Costco-related expenses in the prior year.", + "Card Member services and other expense increased $173 million driven by higher usage of travel-related benefits and enhanced Platinum card benefits.", + "Marketing and promotion expenses decreased $112 million due to lower spending on growth initiatives.", + "Salaries and employee benefits and other operating expense increased in 2017 compared to 2016, primarily reflecting the gains on the sales of the HFS portfolios in the prior year, which were recognized as an expense reduction in other expenses, partially offset by lower technology and other servicing-related costs in the current year and restructuring charges in the prior year.", + "Total expenses decreased in 2016 compared to 2015, primarily driven by lower salaries and employee benefits and other operating expenses, largely reflecting the gains on the sales of the HFS portfolios as previously mentioned.", + "Income tax provision decreased in 2017 compared to 2016, primarily reflecting the impact of recurring permanent tax benefits on the lower level of pretax income.", + "|As of or for the Years Ended December 31,||||Change 2017 vs. 2016|Change 2016 vs. 2015|\n|(Millions, except percentages and where indicated)|2017|2016|2015|\n|Card billed business(billions)|$337.0|$345.3|$370.1|-2%|-7%|\n|Charge card billed business as a % of total|36.4%|34.7%|32.4%|||\n|Total cards-in-force|34.9|32.7|40.7|7|-20|\n|Basic cards-in-force|25.0|23.3|28.6|7|-19|\n|Average basic Card Member spending(dollars)|$13,950|$13,447|$13,441|4|\u2015|\n|Total segment assets(billions)|$94.2|$87.4|$92.7|8|-6|\n|Card Member loans:(a)||||||\n|Total loans(billions)|$53.7|$48.8|$43.5|10|12|\n|Average loans(billions)|$48.9|$44.4|$51.1|10%|-13%|\n|Net write-off rate \u2014 principal only(b)|1.8%|1.5%|1.4%|||\n|Net write-off rate \u2014 principal, interest and fees(b)|2.1%|1.8%|1.6%|||\n|30+ days past due loans as a % of total|1.3%|1.1%|1.0%|||\n|Calculation of Net Interest Yield on Average Card Member loans:||||||\n|Net interest income|$5,013|$4,546|$4,710|||\n|Exclude:||||||\n|Interest expense not attributable to our Card Member loan portfolio(c)|120|80|72|||\n|Interest income not attributable to our Card Member loan portfolio(d)|-101|-24|-15|||\n|Adjusted net interest income(e)|$5,032|$4,602|$4,767|||\n|Average Card Member loans including HFS loan portfolios(billions)(f)|$48.9|$49.4|$52.1|||\n|Net interest income divided by average Card Member loans|10.3%|9.2%|9.0%|||\n|Net interest yield on average Card Member loans(e)|10.3%|9.3%|9.2%|||\n|Card Member receivables:(a)||||||\n|Total receivables(billions)|$13.1|$12.3|$11.8|7%|4%|\n|Net write-off rate \u2014 principal only(b)|1.3%|1.4%|1.6%|||\n|Net write-off rate \u2014 principal and fees(b)|1.4%|1.6%|1.8%|||\n|30+ days past due as a % of total|1.1%|1.2%|1.4%|||\n", + "(a) Refer to Table 7 footnote (a).", + "(b) Refer to Table 7 footnote (e).", + "(c) Refer to Table 8 footnote (a).", + "(d) Refer to Table 8 footnote (b).", + "(e) Refer to Table 8 footnote (c).", + "(f) Refer to Table 8 footnote (d).", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) The following table summarizes the activity related to our unrecognized tax benefits (in millions):", + "|Balance at January 1, 2007|$373|\n|Additions for tax positions of the current year|13|\n|Additions for tax positions of prior years|34|\n|Reductions for tax positions of prior years for:||\n|Changes in judgment or facts|-12|\n|Settlements during the period|-49|\n|Lapses of applicable statute of limitations|-4|\n|Balance at December 31, 2007|$355|\n", + "As of December 31, 2007, the total amount of gross unrecognized tax benefits that, if recognized, would affect the effective tax rate was $134 million.", + "We also had gross recognized tax benefits of $567 million recorded as of December 31, 2007 associated with outstanding refund claims for prior tax years.", + "Therefore, we had a net receivable recorded with respect to prior year income tax matters in the accompanying balance sheets.", + "Our continuing practice is to recognize interest and penalties associated with income tax matters as a component of income tax expense.", + "Related to the uncertain tax benefits noted above, we accrued penalties of $5 million and interest of $36 million during 2007.", + "As of December 31, 2007, we have recognized a liability for penalties of $6 million and interest of $75 million.", + "Additionally, we have recognized a receivable for interest of $116 million for the recognized tax benefits associated with outstanding refund claims.", + "We file income tax returns in the U. S. federal jurisdiction, most U. S. state and local jurisdictions, and many non-U.", + "S. jurisdictions.", + "As of December 31, 2007, we had substantially resolved all U. S. federal income tax matters for tax years prior to 1999.", + "In the third quarter of 2007, we entered into a Joint Stipulation to Dismiss the case with the Department of Justice, effectively withdrawing our refund claim related to the 1994 disposition of a subsidiary in France.", + "The write-off of previously recognized tax receivable balances associated with the 1994 French matter resulted in a $37 million increase in income tax expense for the quarter.", + "However, this increase was offset by the impact of favorable developments with various other U. S. federal, U. S. state, and non-U.", + "S. contingency matters.", + "In February 2008, the IRS completed its audit of the tax years 1999 through 2002 with only a limited number of issues that will be considered by the IRS Appeals Office by 2009.", + "The IRS is in the final stages of completing its audit of the tax years 2003 through 2004.", + "We anticipate that the IRS will conclude its audit of the 2003 and 2004 tax years by 2009.", + "With few exceptions, we are no longer subject to U. S. state and local and non-U.", + "S. income tax examinations by tax authorities for tax years prior to 1999, but certain U. S. state and local matters are subject to ongoing litigation.", + "A number of years may elapse before an uncertain tax position is audited and ultimately settled.", + "It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions.", + "It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months.", + "Items that may cause changes to unrecognized tax benefits include the timing of interest deductions, the deductibility of acquisition costs, the consideration of filing requirements in various states, the allocation of income and expense between tax jurisdictions and the effects of terminating an election to have a foreign subsidiary join in filing a consolidated return.", + "These changes could result from the settlement of ongoing litigation, the completion of ongoing examinations, the expiration of the statute of limitations, or other unforeseen circumstances.", + "At this time, an estimate of the range of the reasonably possible change cannot be made." + ], + "question_id": "simplong-test-36", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the difference of Distribution fees in GAAP between 2010 and 2009? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Amortization of Intangibles", + "|||||Change|\n||Fiscal Year|2016 over 2015|2015 over 2014|\n||2016|2015|2014|$ Change|% Change|$ Change|% Change|\n|Amortization expenses|$70,123|$88,318|$26,020|$-18,195|-21%|$62,298|239%|\n|Amortization expenses as a % of revenue|2.0%|2.6%|0.9%|||||\n", + "Amortization expenses decreased in fiscal 2016 as compared to fiscal 2015 as a result of certain intangible assets becoming fully amortized during fiscal 2015.", + "Amortization expenses increased in fiscal 2015 as compared to fiscal 2014 as a result of acquired amortizable intangible assets from the Hittite Acquisition.", + "These intangible assets are being amortized on a straight-line basis over their estimated useful lives.", + "Special Charges We monitor global macroeconomic conditions on an ongoing basis, and continue to assess opportunities for improved operational effectiveness and efficiency and better alignment of expenses with revenues.", + "As a result of these assessments, we have undertaken various restructuring actions over the past several years.", + "The expense reductions relating to ongoing actions are described below.", + "During fiscal 2016, we recorded a special charge of approximately $13.7 million for severance and fringe benefit costs in accordance with the Company's ongoing benefit plan for 123 manufacturing, engineering and SMG&A employees.", + "As of October 29, 2016, we still employed 44 of the 123 employees included in these cost reduction actions.", + "These employees must continue to be employed by the Company until their employment is terminated in order to receive the severance benefit.", + "We expect this action will result in estimated annual cost savings of approximately $12.3 million once fully implemented.", + "During fiscal 2014, we recorded special charges of approximately $37.3 million.", + "These special charges included $37.9 million for severance and fringe benefit costs in accordance with our ongoing benefit plan or statutory requirements at foreign locations for 341 manufacturing, engineering and SMG&A employees; $0.5 million for lease obligations costs for facilities that we ceased using during the fourth quarter of fiscal 2014; and $0.4 million for the impairment of assets that have no future use located at closed facilities.", + "We reversed approximately $1.4 million of our severance accrual related to charges taken in fiscal 2013, primarily due to severance costs being lower than our estimates.", + "We terminated the employment of all employees associated with this action.", + "This action resulted in annual cost savings of approximately $46.2 million.", + "We expect that annual cost savings resulting from these actions will be used to make additional investments in products that we expect will drive revenue growth in the future.", + "Other Operating Expense During fiscal 2015, we converted the benefits provided to participants in our Irish defined benefits pension plan to benefits provided under our Irish defined contribution plan.", + "Retired pension plan participants received an annuity.", + "As a result, in fiscal 2015 we recorded settlement charges, legal, accounting and other professional fees totaling $223.7 million to settle all existing and future Irish pension plan liabilities.", + "The following table presents the results of operations of our Protection segment:", + "| |Years Ended December 31,|||\n| |2010 |2009 |||\n| |GAAP |Less: Adjustments-1 |Operating |GAAP |Less: Adjustments-1 |Operating |Operating Change|\n| |(in millions, except percentages)|\n| Revenues|||||||||\n|Management and financial advice fees|$54|$\u2014|$54|$47|$\u2014|$47|$7|15%|\n|Distribution fees|96|\u2014|96|97|\u2014|97|-1|-1|\n|Net investment income|429|1|428|422|27|395|33|8|\n|Premiums|1,055|\u2014|1,055|1,020|\u2014|1,020|35|3|\n|Other revenues|422|\u2014|422|386|\u2014|386|36|9|\n|Total revenues|2,056|1|2,055|1,972|27|1,945|110|6|\n|Banking and deposit interest expense|1|\u2014|1|1|\u2014|1|\u2014|\u2014|\n|Total net revenues|2,055|1|2,054|1,971|27|1,944|110|6|\n| Expenses|||||||||\n|Distribution expenses|32|\u2014|32|22|\u2014|22|10|45|\n|Interest credited to fixed accounts|147|\u2014|147|144|\u2014|144|3|2|\n|Benefits, claims, losses and settlement expenses|1,066|\u2014|1,066|924|\u2014|924|142|15|\n|Amortization of deferred acquisition costs|183|\u2014|183|159|\u2014|159|24|15|\n|General and administrative expense|223|\u2014|223|226|\u2014|226|-3|-1|\n|Total expenses|1,651|\u2014|1,651|1,475|\u2014|1,475|176|12|\n|Pretax income|$404|$1|$403|$496|$27|$469|$-66|-14%|\n", + "(1) Adjustments include net realized gains or losses.", + "Our Protection segment pretax income was $404 million for the year ended December 31, 2010, a decrease of $92 million, or 19%, from $496 million for the prior year.", + "Our Protection segment pretax operating income, which excludes net realized gains or losses, was $403 million for the year ended December 31, 2010, a decrease of $66 million, or 14%, from $469 million for the prior year.", + "Net Revenues Net revenues increased $84 million, or 4%, to $2.1 billion for the year ended December 31, 2010 compared to $2.0 billion for the prior year.", + "Operating net revenues, which exclude net realized gains or losses, increased $110 million, or 6%, to $2.1 billion for the year ended December 31, 2010 compared to $1.9 billion for the prior year primarily due to the impact of updating valuation assumptions and model changes and an increase in net investment income and premiums.", + "Management and financial advice fees increased $7 million, or 15%, to $54 million for the year ended December 31, 2010 compared to $47 million for the prior year primarily due to higher management fees from VUL separate account growth due to market appreciation.", + "Net investment income increased $7 million, or 2%, to $429 million for the year ended December 31, 2010 compared to $422 million for the prior year.", + "Operating net investment income, which excludes net realized gains or losses, increased $33 million, or 8%, to $428 million for the year ended December 31, 2010 compared to $395 million for the prior year primarily due to higher investment yields and increased general account assets.", + "Premiums increased $35 million, or 3%, to $1.1 billion for the year ended December 31, 2010 compared to $1.0 billion for the prior year due to growth in Auto and Home premiums driven by higher volumes.", + "Auto and Home policy counts increased 9% period-over-period.", + "Other revenues increased $36 million, or 9%, to $422 million for the year ended December 31, 2010 compared to $386 million for the prior year primarily due to updating valuation assumptions and model changes.", + "Other revenues in 2010 included a charge of $20 million from updating valuation assumptions and model changes compared to a charge of $65 million in the prior year.", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS A.", + "SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization.", + "General Dynamics is organized into four business groups: Aerospace, which produces Gulfstream aircraft, provides aircraft services and performs aircraft completions for other original equipment manufacturers (OEMs); Combat Systems, which designs and manufactures combat vehicles, weapons systems and munitions; Marine Systems, which designs, constructs and repairs surface ships and submarines; and Information Systems and Technology, which provides communications and information technology products and services.", + "Our primary customer is the U. S. government.", + "We also do significant business with international governments and a diverse base of corporate and individual buyers of business aircraft.", + "Basis of Consolidation and Classification.", + "The Consolidated Financial Statements include the accounts of General Dynamics Corporation and our wholly-owned and majority-owned subsidiaries.", + "We eliminate all inter-company balances and transactions in the Consolidated Financial Statements.", + "Consistent with defense industry practice, we classify assets and liabilities related to long-term production contracts as current, even though some of these amounts may not be realized within one year.", + "In addition, some prior-year amounts have been reclassified among financial statement accounts to conform to the current-year presentation.", + "Use of Estimates.", + "The nature of our business requires that we make a number of estimates and assumptions in accordance with U. S. generally accepted accounting principles (GAAP).", + "These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period.", + "We base our estimates on historical experience and currently available information and on various other assumptions that we believe are reasonable under the circumstances.", + "Actual results could differ from these estimates.", + "Revenue Recognition.", + "We account for revenues and earnings using the percentage-of-completion method.", + "Under this method, contract costs and revenues are recognized as the work progresses, either as the products are produced or as services are rendered.", + "We estimate the profit on a contract as the difference between the total estimated revenue and costs to complete a contract and recognize that profit over the life of the contract.", + "If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the loss in the quarter it is identified.", + "We generally measure progress toward completion on contracts in our defense business based on the proportion of costs incurred to date relative to total estimated costs at completion.", + "For our contracts for the manufacture of business-jet aircraft, we record revenue at two contractual milestones: when green aircraft are delivered to, and accepted by, the customer and when the customer accepts final delivery of the fully outfitted aircraft.", + "We review and update our contract estimates regularly.", + "We recognize changes in estimated profit on contracts under the reallocation method.", + "Under the reallocation method, the impact of a revision in estimate is recognized prospectively over the remaining contract term.", + "The net increase in our operating earnings (and on a per-share basis) from the favorable impact of revisions in contract estimates totaled $350 ($0.60) in 2010, $356 ($0.63) in 2011 and $180 ($0.33) in 2012.", + "Other than revisions on the T-AKE combat-logistics ship and Specialist Vehicle programs of $53 and ($32), respectively, no revisions on any one contract were material in 2012.", + "Discontinued Operations.", + "In 2011, we recognized losses from the settlement of an environmental matter associated with a former operation of the company and our estimate of continued legal costs associated with the A-12 litigation as a result of the U. S. Supreme Court\u2019s decision that extended the expected timeline associated with the litigation.", + "Net cash used by discontinued operations in 2011 consists primarily of cash associated with the environmental settlement and A-12 litigation costs.", + "See Note N to the Consolidated Financial Statements for further discussion of the A-12 litigation.", + "Research and Development Expenses.", + "Research and development (R&D) expenses consisted of the following:", + "|Year Ended December 31|2010|2011|2012|\n|Company-sponsored R&D, including product developmentcosts|$325|$372|$374|\n|Bid and proposal costs|183|173|170|\n|Total company-sponsored R&D|508|545|544|\n|Customer-sponsored R&D|696|994|1,063|\n|Total R&D|$1,204|$1,539|$1,607|\n", + "R&D expenses are included in operating costs and expenses in the Consolidated Statements of Earnings (Loss) in the period in which they are incurred.", + "Customer-sponsored R&D expenses are charged directly to the related contract.", + "The Aerospace group has cost-sharing arrangements with some of its suppliers that enhance the group\u2019s internal development capabilities and offset a portion of the financial cost associated with the group\u2019s" + ], + "question_id": "simplong-test-37", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Total revenues in 2011\uff1f (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Defined Contribution Plan In addition to the plans described previously, the Company\u2019s employees are generally eligible to participate in the Ameriprise Financial 401(k) Plan (the \u2018\u2018401(k) Plan\u2019\u2019).", + "The 401(k) Plan allows eligible employees to make contributions through payroll deductions up to IRS limits and invest their contributions in one or more of the 401(k) Plan investment options, which include the Ameriprise Financial Stock Fund.", + "Effective March 1, 2010, the Company matches 100% of the first 5% of eligible compensation an employee contributes on a pretax or Roth 401(k) basis for each annual period.", + "Prior to March 1, 2010, the Company matched 100% of the first 3% of base pay an employee contributed on a pretax basis each pay period.", + "Effective March 1, 2010, the Company no longer makes an annual discretionary variable match.", + "Prior to May 2009, the Company also made contributions equal to 1% of base pay each pay period, which were automatically invested in the Ameriprise Financial Stock Fund.", + "Under the 401(k) Plan, employees become eligible for contributions under the plan during the pay period they reach 60 days of service.", + "Fixed and variable match contributions and stock contributions are fully vested after five years of service, vesting ratably over the first five years of service.", + "The Company\u2019s defined contribution plan expense was $33 million, $32 million and $16 million in 2011, 2010 and 2009, respectively.", + "Threadneedle Profit Sharing Plan On an annual basis, Threadneedle employees are eligible for a profit sharing arrangement.", + "The employee profit sharing plan provides for profit sharing of 30% based on an internally defined recurring pretax operating income measure for Threadneedle, which primarily includes pretax income related to investment management services and investment portfolio income excluding gains and losses on asset disposals, certain reorganization expenses, EPP and EIP expenses and other non-recurring expenses.", + "Compensation expense related to the employee profit sharing plan was $54 million, $52 million and $32 million in 2011, 2010 and 2009, respectively.22.", + "Commitments, Guarantees and Contingencies Commitments The Company is committed to pay aggregate minimum rentals under noncancelable operating leases for office facilities and equipment in future years as follows:", + "||(in millions)|\n|2012|$97|\n|2013|88|\n|2014|83|\n|2015|73|\n|2016|61|\n|Thereafter|206|\n|Total|$608|\n", + "For the years ended December 31, 2011, 2010 and 2009, operating lease expense was $97 million, $103 million and $103 million, respectively.", + "The following table presents the Company\u2019s funding commitments:", + "||December 31,|\n||2011|2010|\n||(in millions)|\n|Commercial mortgage loan commitments|$19|$22|\n|Consumer mortgage loan commitments|730|525|\n|Consumer lines of credit|1,685|1,533|\n|Affordable housing partnerships|267|188|\n|Total funding commitments|$2,701|$2,268|\n", + "The Company\u2019s life and annuity products all have minimum interest rate guarantees in their fixed accounts.", + "As of December 31, 2011, these guarantees range up to 5%.", + "To the extent the yield on the Company\u2019s invested asset portfolio declines below its target spread plus the minimum guarantee, the Company\u2019s profitability would be negatively affected.", + "Guarantees Owing to conditions then-prevailing in the credit markets and the isolated defaults of unaffiliated structured investment vehicles held in the portfolios of money market funds advised by its Columbia Management Investment Advisers, LLC subsidiary (the \u2018\u20182a-7 Funds\u2019\u2019), the Company closely monitored the net asset value of the 2a-7 Funds during 2008 and", + "The following table presents the results of operations of our Corporate & Other segment:", + "| |Years Ended December 31,|||\n| |2011|2010|||\n| |GAAP|Less: Adjustments -1|Operating|GAAP|Less: Adjustments-1 |Operating|Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$-1|$\u2014|$-1|$\u2014|$\u2014|$\u2014|$-1|NM|\n|Distribution fees|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Net investment income (loss)|68|95|-27|273|294|-21|-6|-29%|\n|Other revenues|124|94|30|153|125|28|2|7|\n|Total revenues|191|189|2|426|419|7|-5|-71|\n|Banking and deposit interest expense|-1|\u2014|-1|3|\u2014|3|-4|NM|\n|Total net revenues|192|189|3|423|419|4|-1|-25|\n| Expenses|||||||||\n|Distribution expenses|1|\u2014|1|1|\u2014|1|\u2014|\u2014|\n|Interest and debt expense|316|221|95|288|181|107|-12|-11|\n|General and administrative expense|218|70|148|185|65|120|28|23|\n|Total expenses|535|291|244|474|246|228|16|7|\n|Pretax loss|-343|-102|-241|-51|173|-224|-17|-8|\n|Less: Net income (loss) attributable to noncontrolling interests|-106|-106|\u2014|163|163|\u2014|\u2014|\u2014|\n|Pretax loss attributable to Ameriprise Financial|$-237|$4|$-241|$-214|$10|$-224|$-17|-8%|\n", + "NM Not Meaningful.", + "(1) Includes revenues and expenses of the CIEs; net realized gains or losses; and integration and restructuring charges.", + "The following table presents the components of the adjustments in the table above:", + "| |Years Ended December 31,|\n| |2011|2010 |\n| |CIEs|Other Adjustments-1 |Total Adjustments|CIEs |Other Adjustments-1 |Total Adjustments |\n| |(in millions) |\n| Revenues|||||||\n|Net investment income (loss)|$91|$4|$95|$275|$19|$294|\n|Other revenues|94|\u2014|94|125|\u2014|125|\n|Total revenues|185|4|189|400|19|419|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|185|4|189|400|19|419|\n| Expenses|||||||\n|Distribution expenses|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Interest and debt expense|221|\u2014|221|181|\u2014|181|\n|General and administrative expense|70|\u2014|70|56|9|65|\n|Total expenses|291|\u2014|291|237|9|246|\n|Pretax loss|-106|4|-102|163|10|173|\n|Less: Net income (loss) attributable to noncontrolling interests|-106|\u2014|-106|163|\u2014|163|\n|Pretax loss attributable to Ameriprise Financial|$\u2014|$4|$4|$\u2014|$10|$10|\n", + "(1) Other adjustments include net realized gains or losses and integration and restructuring charges.", + "Our Corporate & Other segment pretax loss attributable to Ameriprise Financial was $237 million for the year ended December 31, 2011 compared to $214 million for the prior year.", + "Our Corporate & Other segment pretax operating loss excludes net realized gains or losses, integration and restructuring charges and the impact of consolidating CIEs.", + "Our Corporate & Other segment pretax operating loss was $241 million for the year ended December 31, 2011 compared to $224 million for the prior year.", + "Net revenues decreased $231 million, or 55%, to $192 million for the year ended December 31, 2011 compared to $423 million for the prior year reflecting the impact of consolidating CIEs.", + "Operating net revenues, which exclude revenues or losses of CIEs and net realized gains or losses, decreased $1 million, or 25%, to $3 million for the year ended December 31, 2011 compared to $4 million for the prior year.", + "Notes to the Consolidated Financial Statements repatriation of undistributed earnings of non-U.", + "S. subsidiaries as of December 31, 2013 and December 31, 2012 would have resulted in a U. S. tax cost of approximately $250 million and $110 million, respectively.", + "The Company files federal, state and local income tax returns in numerous domestic and foreign jurisdictions.", + "In most tax jurisdictions, returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed.", + "The Company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2006.", + "Additionally, the Internal Revenue Service has completed its examination of the Company\u2019s U. S. federal income tax returns filed for years through 2010.", + "The examination of the Company\u2019s U. S. federal income tax return for 2011 is currently underway and is expected to be finalized during 2014.", + "A reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties) as of December 31 follows:", + "|(Millions)|2013|2012|2011|\n|Balance at January 1|$82|$107|$111|\n|Additions based on tax positions related to the current year|12|12|15|\n|Additions for tax positions of prior years|9|2|17|\n|Reductions for tax positions of prior years|-10|-12|-19|\n|Pre-acquisition unrecognized tax benefits|\u2014|2|\u2014|\n|Reductions for expiration of the applicable statute of limitations|-10|-6|-7|\n|Settlements|\u2014|-23|-8|\n|Foreign currency translation|2|\u2014|-2|\n|Balance at December 31|$85|$82|$107|\n", + "The Company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant.", + "The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $81 million as of December 31, 2013.", + "The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.", + "As of December 31, 2013, 2012 and 2011, the Company had liabilities for estimated interest and penalties on unrecognized tax benefits of $9 million, $10 million and $15 million, respectively.", + "The Company recognized $2 million and $5 million of income in 2013 and 2012, respectively, related to the reduction of estimated interest and penalties.", + "The Company recognized no income or expense for estimated interest and penalties during the year ended December 31, 2011.13.", + "Pensions and Other Postretirement Benefits Defined Benefit Plans PPG has defined benefit pension plans that cover certain employees worldwide.", + "The principal defined benefit pension plans are those in the U. S. , Canada, the Netherlands and the U. K. which, in the aggregate represent approximately 91% of the projected benefit obligation at December 31, 2013, of which the U. S. defined benefit pension plans represent the majority.", + "PPG also sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain U. S. and Canadian employees and their dependents.", + "These programs require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between PPG and participants based on management discretion.", + "The Company has the right to modify or terminate certain of these benefit plans in the future.", + "Salaried and certain hourly employees in the U. S. hired on or after October 1, 2004, or rehired on or after October 1, 2012 are not eligible for postretirement medical benefits.", + "Salaried employees in the U. S. hired, rehired or transferred to salaried status on or after January 1, 2006, and certain U. S. hourly employees hired in 2006 or thereafter are eligible to participate in a defined contribution retirement plan.", + "These employees are not eligible for defined benefit pension plan benefits.", + "Plan Design Changes In January 2011, the Company approved an amendment to one of its U. S. defined benefit pension plans that represented about 77% of the total U. S. projected benefit obligation at December 31, 2011.", + "Depending upon the affected employee's combined age and years of service to PPG, this change resulted in certain employees no longer accruing benefits under this plan as of December 31, 2011, while the remaining employees will no longer accrue benefits under this plan as of December 31, 2020.", + "The affected employees will participate in the Company\u2019s defined contribution retirement plan from the date their benefit under the defined benefit plan is frozen.", + "The Company remeasured the projected benefit obligation of this amended plan, which lowered 2011 pension expense by approximately $12 million.", + "The Company made similar changes to certain other U. S. defined benefit pension plans in 2011.", + "The Company recognized a curtailment loss and special termination benefits associated with these plan amendments of $5 million in 2011.", + "The Company plans to continue reviewing and potentially changing other PPG defined benefit plans in the future.", + "Separation and Merger of Commodity Chemicals Business On January 28, 2013, PPG completed the separation of its commodity chemicals business and the merger of the subsidiary holding the PPG commodity chemicals business with a subsidiary of Georgia Gulf, as discussed in Note 22, \u201cSeparation and Merger Transaction.", + "\u201d PPG transferred the defined benefit pension plan and other postretirement benefit liabilities for the affected employees in the U. S. , Canada, and Taiwan in the separation resulting in a net partial settlement loss of $33 million" + ], + "question_id": "simplong-test-38", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all elements that are smaller than 15000 in Balance at December 31, 2007-1? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements\u2014(Continued) Note 8.", + "Goodwill and In-Process Research and Development (Continued) The Company has no accumulated impairment losses on goodwill.", + "The Company performed a Step 0 qualitative assessment during the annual impairment review for fiscal 2015 as of October 31, 2014 and concluded that it is not more likely than not that the fair value of the Company\u2019s single reporting unit is less than its carrying amount.", + "Therefore, the two-step goodwill impairment test for the reporting unit was not necessary in fiscal 2015.", + "As described in Note 3.", + "\u201cAcquisitions,\u201d in July 2014, the Company acquired ECP and AIS and recorded $18.5 million of IPR&D.", + "The estimated fair value of the IPR&D was determined using a probability-weighted income approach, which discounts expected future cash flows to present value.", + "The projected cash flows from the expandable catheter pump technology were based on certain key assumptions, including estimates of future revenue and expenses, taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development.", + "The Company used a discount rate of 22.5% and cash flows that have been probability adjusted to reflect the risks of product commercialization, which the Company believes are appropriate and representative of market participant assumptions.", + "The carrying value of the Company\u2019s IPR&D assets and the change in the balance for the year ended March 31, 2015 is as follows:", + "||March 31, 2015 (in $000\u2019s)|\n|Beginning balance|$\u2014|\n|Additions|18,500|\n|Foreign currency translation impact|-3,789|\n|Ending balance|$14,711|\n", + "Note 9.", + "Stockholders\u2019 Equity Class B Preferred Stock The Company has authorized 1,000,000 shares of Class B Preferred Stock, $.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.", + "Stock Repurchase Program In November 2012, the Company\u2019s Board of Directors authorized a stock repurchase program for up to $15.0 million of its common stock.", + "The Company financed the stock repurchase program with its available cash.", + "During the year ended March 31, 2013, the Company repurchased 1,123,587 shares for $15.0 million in open market purchases at an average cost of $13.39 per share, including commission expense.", + "The Company completed the purchase of common stock under this stock repurchase program in January 2013.", + "Note 10.", + "Stock Award Plans and Stock-Based Compensation Stock Award Plans The Company grants stock options and restricted stock awards to employees and others.", + "All outstanding stock options of the Company as of March 31, 2015 were granted with an exercise price equal to the fair market value on the date of grant.", + "Outstanding stock options, if not exercised, expire 10 years from the date of grant.", + "The Company\u2019s 2008 Stock Incentive Plan (the \u201cPlan\u201d) authorizes the grant of a variety of equity awards to the Company\u2019s officers, directors, employees, consultants and advisers, including awards of unrestricted and restricted stock, restricted stock units, incentive and nonqualified stock options to purchase shares of common stock, performance share awards and stock appreciation rights.", + "The Plan provides that options may only be granted at the current market value on the date of grant.", + "Each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the Plan, while each share of stock issued", + "Simultaneously, the FASB issued SFAS No.167, Amendments to FASB Interpretation No.46(R) (SFAS 167), which details three key changes to the consolidation model.", + "First, former QSPEs will now be included in the scope of SFAS 167.", + "In addition, the FASB has changed the method of analyzing which party to a variable interest entity (VIE) should consolidate the VIE (known as the primary beneficiary) to a qualitative determination of which party to the VIE has \u201cpower\u201d combined with potentially significant benefits or losses, instead of the current quantitative risks and rewards model.", + "The entity that has power has the ability to direct the activities of the VIE that most significantly impact the VIE\u2019s economic performance.", + "Finally, the new standard requires that the primary beneficiary analysis be re-evaluated whenever circumstances change.", + "The current rules require reconsideration of the primary beneficiary only when specified reconsideration events occur.", + "As a result of implementing these new accounting standards, Citigroup will consolidate certain of the VIEs and former QSPEs with which it currently has involvement.", + "An ongoing evaluation of the application of these new requirements could, with the resolution of certain uncertainties, result in the identification of additional VIEs and former QSPEs, other than those presented below, needing to be consolidated.", + "It is not currently anticipated, however, that any such newly identified VIEs and former QSPEs would have a significant impact on Citigroup\u2019s Consolidated Financial Statements or capital position.", + "In accordance with SFAS 167, Citigroup employed three approaches for consolidating all of the VIEs and former QSPEs that it consolidated as of January 1, 2010.", + "The first approach requires initially measuring the assets, liabilities, and noncontrolling interests of the VIEs and former QSPEs at their carrying values (the amounts at which the assets, liabilities, and noncontrolling interests would have been carried in the Consolidated Financial Statements, if Citigroup had always consolidated these VIEs and former QSPEs).", + "The second approach is to use the unpaid principal amounts, where using carrying values is not practicable.", + "The third approach is to elect the fair value option, in which all of the financial assets and liabilities of certain designated VIEs and former QSPEs would be recorded at fair value upon adoption of SFAS 167 and continue to be marked to market thereafter, with changes in fair value reported in earnings.", + "Citigroup consolidated all required VIEs and former QSPEs as of January 1, 2010 at carrying values or unpaid principal amounts, except for certain private label residential mortgage and mutual fund deferred sales commissions VIEs, for which the fair value option was elected.", + "The following tables present the pro forma impact of adopting these new accounting standards applying these approaches.", + "The pro forma impact of these changes on incremental GAAP assets and resulting risk-weighted assets for those VIEs and former QSPEs that were consolidated or deconsolidated for accounting purposes as of January 1, 2010 (based on financial information as of December 31, 2009), reflecting Citigroup\u2019s present understanding of the new accounting requirements and immediate implementation of the recently issued final risk-based capital rules regarding SFAS 166 and SFAS 167, was as follows:", + "||Incremental||\n|In billions of dollars|GAAP assets|Risk- weighted assets|-1|\n|Impact of consolidation||||\n|Credit cards|$86.3|$0.8||\n|Commercial paper conduits|28.3|13.0||\n|Student loans|13.6|3.7||\n|Private label consumer mortgages|4.4|1.3||\n|Municipal tender option bonds|0.6|0.1||\n|Collateralized loan obligations|0.5|0.5||\n|Mutual fund deferred sales commissions|0.5|0.5||\n|Subtotal|$134.2|$19.9||\n|Impact of deconsolidation||||\n|Collateralized debt obligations-2|$1.9|$3.6||\n|Equity-linked notes-3|1.2|0.5||\n|Total|$137.3|$24.0||\n", + "(1) Citigroup undertook certain actions during the first and second quarters of 2009 in support of its off-balance-sheet credit card securitization vehicles.", + "As a result of these actions, Citigroup included approximately $82 billion of incremental risk-weighted assets in its risk-based capital ratios as of March 31, 2009 and an additional approximate $900 million as of June 30, 2009.", + "See Note 23 to the Consolidated Financial Statements.", + "(2) The implementation of SFAS 167 will result in the deconsolidation of certain synthetic and cash collateralized debt obligation (CDO) VIEs that were previously consolidated under the requirements of ASC 810 (FIN 46(R)).", + "Upon deconsolidation of these synthetic CDOs, Citigroup\u2019s Consolidated Balance Sheet will reflect the recognition of current receivables and payables related to purchased and written credit default swaps entered into with these VIEs, which had previously been eliminated in consolidation.", + "The deconsolidation of certain cash CDOs will have a minimal impact on GAAP assets, but will cause a sizable increase in risk-weighted assets.", + "The impact on risk-weighted assets results from replacing, in Citigroup\u2019s trading account, largely investment grade securities owned by these VIEs when consolidated, with Citigroup\u2019s holdings of non-investment grade or unrated securities issued by these VIEs when deconsolidated.", + "(3) Certain equity-linked note client intermediation transactions that had previously been consolidated under the requirements of ASC 810 (FIN 46 (R)) will be deconsolidated with the implementation of SFAS 167.", + "Upon deconsolidation, Citigroup\u2019s Consolidated Balance Sheet will reflect both the equity\u0002linked notes issued by the VIEs and held by Citigroup as trading assets, as well as related trading liabilities in the form of prepaid equity derivatives.", + "These trading assets and trading liabilities were formerly eliminated in consolidation.", + "19.", + "GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in Goodwill during 2008 and 2009 were as follows:", + "|Balance at December 31, 2007|$41,053|\n|Sale of German retail bank|$-1,047|\n|Sale of CitiCapital|-221|\n|Sale of Citigroup Global Services Limited|-85|\n|Purchase accounting adjustments\u2014BISYS|-184|\n|Purchase of the remaining shares of Nikko Cordial\u2014net of purchase accounting adjustments|287|\n|Acquisition of Legg Mason Private Portfolio Group|98|\n|Foreign exchange translation|-3,116|\n|Impairment of goodwill|-9,568|\n|Smaller acquisitions, purchase accounting adjustments and other|-85|\n|Balance at December 31, 2008|$27,132|\n|Sale of Smith Barney|$-1,146|\n|Sale of Nikko Cordial Securities|-558|\n|Sale of Nikko Asset Management|-433|\n|Foreign exchange translation|547|\n|Smaller acquisitions/divestitures, purchase accounting adjustments and other|-150|\n|Balance at December 31, 2009|$25,392|\n", + "The changes in Goodwill by segment during 2008 and 2009 were as follows:", + "|In millions of dollars|Regional Consumer Banking|Institutional Clients Group|Citi Holdings|Corporate/ Other|Total|\n|Balance at December 31, 2007-1|$19,751|$9,288|$12,014|$\u2014|$41,053|\n|Goodwill acquired during 2008|$88|$108|$1,492|$\u2014|$1,688|\n|Goodwill disposed of during 2008|\u2014|\u2014|-1,378|\u2014|-1,378|\n|Goodwill impaired during 2008|-6,547|\u2014|-3,021|\u2014|-9,568|\n|Other-1|-4,006|775|-1,432|\u2014|-4,663|\n|Balance at December 31, 2008-1|$9,286|$10,171|$7,675|$\u2014|$27,132|\n|Goodwill acquired during 2009|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|\n|Goodwill disposed of during 2009|\u2014|-39|-2,248|\u2014|-2,287|\n|Other-1|307|225|15|\u2014|547|\n|Balance at December 31, 2009|$9,593|$10,357|$5,442|$\u2014|$25,392|\n", + "(1) Other changes in Goodwill primarily reflect foreign exchange effects on non-dollar-denominated goodwill, as well as purchase accounting adjustments.", + "Goodwill impairment testing is performed at a level below the business segments (referred to as a reporting unit).", + "The changes in the organizational structure in 2009 resulted in the creation of new reporting segments.", + "As a result, commencing with the second quarter of 2009, the Company has identified new reporting units as required under ASC 350, Intangibles\u2014 Goodwill and Other.", + "Goodwill affected by the reorganization has been reassigned from 10 reporting units to nine, using a fair value approach.", + "During 2009, goodwill was allocated to disposals and tested for impairment under the new reporting units.", + "The Company performed goodwill impairment testing for all reporting units as of April 1, 2009 and July 1, 2009.", + "Additionally, the Company performed an interim goodwill impairment test for the Local Consumer Lending\u2014Cards reporting unit as of November 30, 2009.", + "No goodwill was written off due to impairment in 2009.", + "During 2008, the share prices of financial stocks continued to be very volatile and were under considerable pressure in sustained turbulent markets.", + "In this environment, Citigroup\u2019s market capitalization remained below book value for most of the period and the Company performed goodwill impairment testing for all reporting units as of February 28, 2008, July 1, 2008 and December 31, 2008.", + "The results of the first step of the impairment test showed no indication of impairment in any of the reporting units at any of the periods except December 31, 2008 and, accordingly, the Company did not perform the second step of the impairment test, except for the test performed as of December 31, 2008.", + "As of December 31, 2008, there was an indication of impairment in the North America Consumer Banking, Latin America Consumer Banking, and Local Consumer Lending\u2014Other reporting units and, accordingly, the second step of testing was performed on these reporting units." + ], + "question_id": "simplong-test-39", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of Total assets and Corporate and other bonds for Fixed maturity securities for Total in 2016? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 1.", + "Summary of Significant Accounting Policies \u2013 (Continued) CNA applies the same impairment model as described above for the majority of its non-redeemable preferred stock securities on the basis that these securities possess characteristics similar to debt securities and that the issuers maintain their ability to pay dividends.", + "For all other equity securities, in determining whether the security is other\u0002than-temporarily impaired, the Impairment Committee considers a number of factors including, but not limited to: (i) the length of time and the extent to which the fair value has been less than amortized cost, (ii) the financial condition and near term prospects of the issuer, (iii) the intent and ability of CNA to retain its investment for a period of time sufficient to allow for an anticipated recovery in value and (iv) general market conditions and industry or sector specific outlook.", + "Joint venture investments \u2013 The Company has 20% to 50% interests in operating joint ventures related to hotel properties and had joint venture interests in the former Bluegrass Project, as discussed in Note 2, that are accounted for under the equity method.", + "The Company\u2019s investment in these entities was $217 million and $234 million for the years ended December 31, 2016 and 2015 and reported in Other assets on the Company\u2019s Consolidated Balance Sheets.", + "Equity income (loss) for these investments was $41 million, $43 million and $(62) million for the years ended December 31, 2016, 2015 and 2014 and reported in Other operating expenses on the Company\u2019s Consolidated Statements of Income.", + "Some of these investments are variable interest entities (\u201cVIE\u201d) as defined in the accounting guidance because the entities will require additional funding from each equity owner throughout the development and construction phase and are accounted for under the equity method since the Company is not the primary beneficiary.", + "The maximum exposure to loss for the VIE investments is $337 million, consisting of the amount of the investment and debt guarantees.", + "The following tables present summarized financial information for these joint ventures:", + "| Year Ended December 31|| 2016|2015|\n| (In millions)||||\n|Total assets||$1,749|$1,577|\n|Total liabilities||1,444|1,231|\n| Year Ended December 31| 2016|2015|2014|\n|Revenues|$693|$606|$491|\n|Net income|80|71|32|\n", + "Hedging \u2013 The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedging transactions.", + "The Company also formally assesses (both at the hedge\u2019s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods.", + "When it is determined that a derivative for which hedge accounting has been designated is not (or ceases to be) highly effective, the Company discontinues hedge accounting prospectively.", + "See Note 3 for additional information on the Company\u2019s use of derivatives.", + "Securities lending activities \u2013 The Company lends securities for the purpose of enhancing income or to finance positions to unrelated parties who have been designated as primary dealers by the Federal Reserve Bank of New York.", + "Borrowers of these securities must deposit and maintain collateral with the Company of no less than 100% of the fair value of the securities loaned.", + "U. S. Government securities and cash are accepted as collateral.", + "The Company maintains effective control over loaned securities and, therefore, continues to report such securities as investments on the Consolidated Balance Sheets.", + "Securities lending is typically done on a matched-book basis where the collateral is invested to substantially match the term of the loan.", + "This matching of terms tends to limit risk.", + "In accordance with the Company\u2019s lending agreements, securities on loan are returned immediately to the Company upon notice.", + "Collateral is not reflected as an asset of the Company.", + "There was no collateral held at December 31, 2016 and 2015.", + "Notes to Consolidated Financial Statements Note 4.", + "Fair Value \u2013 (Continued) x Level 2 \u2013 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.", + "x Level 3 \u2013 Valuations derived from valuation techniques in which one or more significant inputs are not observable.", + "Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security.", + "In general, the Company seeks to price securities using third party pricing services.", + "Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets.", + "Prices obtained from third-party pricing services or brokers are not adjusted by the Company.", + "The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable.", + "Procedures may include: (i) the review of pricing service methodologies or broker pricing qualifications, (ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, (iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, (iv) detailed analysis, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities and (v) pricing validation, where prices received are compared to prices independently estimated by the Company.", + "The fair values of CNA\u2019s life settlement contracts are included in Other assets on the Consolidated Balance Sheets.", + "Equity options purchased are included in Equity securities, and all other derivative assets are included in Receivables.", + "Derivative liabilities are included in Payable to brokers.", + "Assets and liabilities measured at fair value on a recurring basis are summarized in the tables below:", + "| December 31, 2016|Level 1| Level 2| Level 3| Total|\n| (In millions)|||||\n| Fixed maturity securities:|||||\n| Corporate and other bonds||$18,828|$130|$18,958|\n| States, municipalities and political subdivisions||13,239|1|13,240|\n| Asset-backed:|||||\n| Residential mortgage-backed||4,944|129|5,073|\n| Commercial mortgage-backed||2,027|13|2,040|\n| Other asset-backed||968|57|1,025|\n| Total asset-backed||7,939|199|8,138|\n| U.S. Treasury and obligations of government-sponsored enterprises|$93|||93|\n| Foreign government||445||445|\n| Redeemable preferred stock|19|||19|\n| Fixed maturitiesavailable-for-sale|112|40,451|330|40,893|\n| Fixed maturities trading||595|6|601|\n| Total fixed maturities|$112|$41,046|$336|$41,494|\n| Equity securitiesavailable-for-sale|$91||$19|$110|\n| Equity securities trading|438||1|439|\n| Total equity securities|$529|$-|$20|$549|\n| Short term investments|$3,833|$853||$4,686|\n| Other invested assets|55|5||60|\n| Receivables|1|||1|\n| Life settlement contracts|||$58|58|\n| Payable to brokers|-44|||-44|\n", + "Item 5.", + "Market for the Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The following graph compares annual total return of our Common Stock, the Standard & Poor\u2019s 500 Composite Stock Index (\u201cS&P 500 Index\u201d) and our Peer Group (\u201cLoews Peer Group\u201d) for the five years ended December 31, 2016.", + "The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index and the Loews Peer Group was $100 on December 31, 2011 and that all dividends were reinvested.", + "||2011|2012|2013|2014|2015|2016|\n|Loews Common Stock|100.0|108.91|129.64|113.59|104.47|128.19|\n|S&P 500 Index|100.0|116.00|153.57|174.60|177.01|198.18|\n|Loews Peer Group (a)|100.0|113.39|142.85|150.44|142.44|165.34|\n", + "(a) The Loews Peer Group consists of the following companies that are industry competitors of our principal operating subsidiaries: Chubb Limited (name change from ACE Limited after it acquired The Chubb Corporation on January 15, 2016), W. R. Berkley Corporation, The Chubb Corporation (included through January 15, 2016 when it was acquired by ACE Limited), Energy Transfer Partners L. P. , Ensco plc, The Hartford Financial Services Group, Inc. , Kinder Morgan Energy Partners, L. P. (included through November 26, 2014 when it was acquired by Kinder Morgan Inc. ), Noble Corporation, Spectra Energy Corp, Transocean Ltd. and The Travelers Companies, Inc. Dividend Information We have paid quarterly cash dividends in each year since 1967.", + "Regular dividends of $0.0625 per share of Loews common stock were paid in each calendar quarter of 2016 and 2015." + ], + "question_id": "simplong-test-40", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Goodwill develops with the same increasing rate in2016, what will it reach in 2017? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ANALOG DEVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The total intrinsic value of options exercised (i. e. the difference between the market price at exercise and the price paid by the employee to exercise the options) during fiscal 2011, 2010 and 2009 was $96.5 million, $29.6 million and $4.7 million, respectively.", + "The total amount of proceeds received by the Company from exercise of these options during fiscal 2011, 2010 and 2009 was $217.4 million, $240.4 million and $15.1 million, respectively.", + "Proceeds from stock option exercises pursuant to employee stock plans in the Company\u2019s statement of cash flows of $217.2 million, $216.1 million and $12.4 million for fiscal 2011, 2010 and 2009, respectively, are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options, and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "The withholding amount is based on the Company\u2019s minimum statutory withholding requirement.", + "A summary of the Company\u2019s restricted stock unit award activity as of October 29, 2011 and changes during the year then ended is presented below:", + "||Restricted Stock Units Outstanding|Weighted- Average Grant- Date Fair Value Per Share|\n|Restricted stock units outstanding at October 30, 2010|1,265|$28.21|\n|Units granted|898|$34.93|\n|Restrictions lapsed|-33|$24.28|\n|Units forfeited|-42|$31.39|\n|Restricted stock units outstanding at October 29, 2011|2,088|$31.10|\n", + "As of October 29, 2011, there was $88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units.", + "That cost is expected to be recognized over a weighted-average period of 1.3 years.", + "The total grant-date fair value of shares that vested during fiscal 2011, 2010 and 2009 was approximately $49.6 million, $67.7 million and $74.4 million, respectively.", + "Common Stock Repurchase Program The Company\u2019s common stock repurchase program has been in place since August 2004.", + "In the aggregate, the Board of Directors has authorized the Company to repurchase $5 billion of the Company\u2019s common stock under the program.", + "Under the program, the Company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions.", + "Unless terminated earlier by resolution of the Company\u2019s Board of Directors, the repurchase program will expire when the Company has repurchased all shares authorized under the program.", + "As of October 29, 2011, the Company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $4,278.5 million under this program.", + "An additional $721.5 million remains available for repurchase of shares under the current authorized program.", + "The repurchased shares are held as authorized but unissued shares of common stock.", + "Any future common stock repurchases will be dependent upon several factors, including the amount of cash available to the Company in the United States and the Company\u2019s financial performance, outlook and liquidity.", + "The Company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units, or in certain limited circumstances to satisfy the exercise price of options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT\u2019S DISCUSSION AND ANALYSIS", + "||As of|\n|(dollars in millions)|December 31,2016|September 30,2016|June 30,2016|March 31,2016|December 31,2015|September 30,2015|June 30,2015|March 31,2015|\n|Balance Sheet Data:|||||||||\n|Total assets|$149,520|$147,015|$145,183|$140,077|$138,208|$135,447|$137,251|$136,535|\n|Loans and leases-18|107,669|105,467|103,551|100,991|99,042|97,431|96,538|94,494|\n|Allowance for loan and lease losses|1,236|1,240|1,246|1,224|1,216|1,201|1,201|1,202|\n|Total securities|25,610|25,704|24,398|24,057|24,075|24,354|25,134|25,121|\n|Goodwill|6,876|6,876|6,876|6,876|6,876|6,876|6,876|6,876|\n|Total liabilities|129,773|126,834|124,957|120,112|118,562|115,847|117,665|116,971|\n|Deposits|109,804|108,327|106,257|102,606|102,539|101,866|100,615|98,990|\n|Federal funds purchased and securities sold under agreements to repurchase|1,148|900|717|714|802|1,293|3,784|4,421|\n|Other short-term borrowed funds|3,211|2,512|2,770|3,300|2,630|5,861|6,762|7,004|\n|Long-term borrowed funds|12,790|11,902|11,810|10,035|9,886|4,153|3,890|3,904|\n|Total stockholders\u2019 equity|19,747|20,181|20,226|19,965|19,646|19,600|19,586|19,564|\n|Other Balance Sheet Data:|||||||||\n|Asset Quality Ratios:|||||||||\n|Allowance for loan and lease losses as a percentage of total loans and leases|1.15%|1.18%|1.20%|1.21%|1.23%|1.23%|1.24%|1.27%|\n|Allowance for loan and lease losses as a percentage of nonperforming loans and leases|118|112|119|113|115|116|114|106|\n|Nonperforming loans and leases as a percentage of total loans and leases|0.97|1.05|1.01|1.07|1.07|1.06|1.09|1.20|\n|Capital ratios:-19|||||||||\n|CET1 capital ratio-20|11.2|11.3|11.5|11.6|11.7|11.8|11.8|12.2|\n|Tier 1 capital ratio-21|11.4|11.5|11.7|11.9|12.0|12.0|12.1|12.2|\n|Total capital ratio-22|14.0|14.2|14.9|15.1|15.3|15.4|15.3|15.5|\n|Tier 1 leverage ratio-23|9.9|10.1|10.3|10.4|10.5|10.4|10.4|10.5|\n", + "(1) Third quarter 2016 noninterest income included $67 million of pre-tax notable items consisting of a $72 million gain on mortgage/home equity TDR transaction, partially offset by $5 million related to asset finance repositioning.", + "(2) Third quarter 2016 noninterest expense included $36 million of pre-tax notable items consisting of $17 million of TOP III efficiency initiatives, $11 million related to asset finance repositioning and $8 million of home equity operational items.", + "(3) Third quarter 2016 net income included $19 million of after-tax notable items consisting of a $45 million gain on mortgage/home equity TDR transaction, partially offset by $11 million of TOP III efficiency initiatives, $10 million related to asset finance repositioning and $5 million of home equity operational items.", + "(4) Third quarter 2016 net income per average common share, basic and diluted, included $0.04 related to notable items consisting of $0.09 attributable to the gain on mortgage/home equity TDR transaction, partially offset by a $0.02 impact from TOP III efficiency initiatives, $0.02 impact related to asset finance repositioning and a $0.01 impact from home equity operational items.", + "(5) Second quarter 2015 noninterest expense included $40 million of pre-tax restructuring charges and special items consisting of $25 million of restructuring charges, $1 million of CCAR and regulatory expenses and $14 million related to separation and rebranding.", + "(6) Second quarter 2015 net income included $25 million of after-tax restructuring charges and special items consisting of $15 million of restructuring charges, $1 million of CCAR and regulatory expenses and $9 million related to separation and rebranding.", + "(7) Second quarter 2015 net income per average common share, basic and diluted, included $0.05 attributed to restructuring and special items.", + "(8) First quarter 2015 noninterest expense included $10 million of pre-tax restructuring charges and special items consisting of $1 million of restructuring charges, $1 million of CCAR and regulatory expenses and $8 million related to separation and rebranding.", + "(9) First quarter 2015 net income included $6 million of after-tax restructuring charges and special items consisting of $1 million of restructuring charges and $5 million related to separation and rebranding.", + "(10) First quarter 2015 net income per average common share, basic and diluted, included $0.01 attributed to restructuring and special items.", + "(11) \u201cReturn on average common equity\u201d is defined as net income available to common stockholders divided by average common equity.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(12) \u201cReturn on average tangible common equity\u201d is defined as net income (loss) available to common stockholders divided by average common equity excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(13) \u201cReturn on average total assets\u201d is defined as net income (loss) divided by average total assets.", + "(14) \u201cReturn on average total tangible assets\u201d is defined as net income (loss) divided by average total assets excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "(15) \u201cEfficiency ratio is defined as the ratio of our total noninterest expense to the sum of net interest income and total noninterest income.", + "(16) \u201cNet interest margin\u201d is defined as net interest income divided by average total interest-earning assets.", + "(17) Ratios for the periods above are presented on an annualized basis.", + "(18) Excludes loans held for sale of $625 million, $526 million, $850 million, $751 million, $365 million, $420 million, $697 million, and $376 million as of December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.", + "(19) Basel III transitional rules for institutions applying the Standardized approach to calculating risk-weighted assets became effective January 1, 2015.", + "The capital ratios and associated components are prepared using the Basel III Standardized transitional approach.", + "(20) \u201cCommon equity tier 1 capital ratio\u201d represents CET1 capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(21) \u201cTier 1 capital ratio\u201d is tier 1 capital, which includes CET1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(22) \u201cTotal capital ratio\u201d is total capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(23) \u201cTier 1 leverage ratio\u201d is tier 1 capital divided by quarterly average total assets as defined under Basel III Standardized approach.", + "In Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, \u201cwe,\u201d \u201cus\u201d and \u201cour\u201d refer to Freeport-McMoRan Copper & Gold Inc. (FCX) and its consolidated subsidiaries.", + "The results of operations reported and summarized below are not necessarily indicative of future operating results (refer to \u201cCautionary Statement\u201d for further discussion).", + "In particular, the financial results for the year ended 2013 include the results of FCX Oil & Gas Inc. (FM O&G) only since June 1, 2013.", + "References to \u201cNotes\u201d are Notes included in our Notes to Consolidated Financial Statements.", + "Throughout Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, all references to earnings or losses per share are on a diluted basis, unless otherwise noted.", + "OVERVIEW In 2013, we completed the acquisitions of Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR).", + "Refer to Note 2 for further discussion of these acquisitions, including a summary of the preliminary purchase price allocations.", + "With these acquisitions, we are a premier United States-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and natural gas resources, and a growing production profile.", + "We are the world\u2019s largest publicly traded copper producer.", + "Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world\u2019s largest copper and gold deposits, significant mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and significant oil and natural gas assets in North America, including reserves in the Deepwater Gulf of Mexico (GOM), onshore and offshore California, in the Eagle Ford shale play in Texas, in the Haynesville shale play in Louisiana, in the Madden area in central Wyoming, and an industry-leading position in the emerging shallow-water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana (previously referred to as the ultra-deep gas trend).", + "We have significant mineral reserves, resources and future development opportunities within our portfolio of mining assets.", + "At December 31, 2013, our estimated consolidated recoverable proven and probable mineral reserves totaled 111.2 billion pounds of copper, 31.3 million ounces of gold and 3.26 billion pounds of molybdenum, which were determined using long-term average prices of $2.00 per pound for copper, $1,000 per ounce for gold and $10 per pound for molybdenum.", + "Refer to \u201cCritical Accounting Estimates \u2014 Mineral Reserves\u201d for further discussion.", + "A summary of the sources of our consolidated copper, gold and molybdenum production for the year 2013 by geographic location follows:", + "||Copper|Gold|Molybdenum||\n|North America|35%|1%|86%|a|\n|South America|32%|8%|14%||\n|Indonesia|22%|91%|\u2014||\n|Africa|11%|\u2014|\u2014||\n||100%|100%|100%||\n", + "a.", + "For 2013, 60 percent of our consolidated molybdenum production in North America was from the Henderson and Climax primary molybdenum mines.", + "Copper production from the Grasberg, Morenci and Cerro Verde mines totaled 49 percent of our consolidated copper production in 2013.", + "During 2013, we completed our second phase expansion project at Tenke.", + "We also advanced construction on the Morenci mill expansion, with startup expected in the first half of 2014, and commenced construction on the Cerro Verde mill expansion, with completion expected in 2016.", + "These projects are expected to significantly increase our minerals production in future periods.", + "Refer to \u201cOperations\u201d for further discussion of our mining operations.", + "Our oil and gas business has significant proved, probable and possible reserves with financially attractive organic growth opportunities.", + "Our estimated proved oil and natural gas reserves at December 31, 2013, totaled 464 million barrels of oil equivalents (MMBOE), with 80 percent comprised of oil (including natural gas liquids, or NGLs).", + "Our portfolio includes a broad range of development opportunities and high-potential exploration prospects.", + "For the seven-month period following the acquisition date, our oil and gas sales volumes totaled 38.1 MMBOE, including 26.6 million barrels (MMBbls) of crude oil, 54.2 billion cubic feet (Bcf) of natural gas and 2.4 MMBbls of NGLs.", + "Refer to \u201cOperations\u201d for further discussion of our oil and gas operations and to \u201cCritical Accounting Estimates \u2014 Oil and Natural Gas Reserves\u201d for further discussion of our reserves.", + "Our results for 2013, compared with 2012, primarily benefited from higher copper and gold sales volumes, partly offset by lower metals price realizations, and include the results of FM O&G beginning June 1, 2013.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the three years ended December 31, 2013.", + "At December 31, 2013, we had $2.0 billion in consolidated cash and cash equivalents and $20.7 billion in total debt, including $10.5 billion of acquisition-related debt and $6.7 billion of debt assumed in connection with the oil and gas acquisitions.", + "Refer to Note 8 and \u201cCapital Resources and Liquidity\u201d for further discussion.", + "At current copper and crude oil prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects, reduce debt and return cash to shareholders through dividends on our common stock." + ], + "question_id": "simplong-test-41", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all elements that are in the range of 1000 and 3000 for Fair of Total?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Commercial Paper and Revolving Credit Facility The table below details the Company\u2019s short-term debt programs and the applicable balances outstanding", + "|| Effective| Expiration| Maximum Available As of December 31,| Outstanding As of December 31,|\n| Description| Date| Date| 2011| 2010| 2011| 2010|\n| Commercial Paper|||||||||\n|The Hartford|11/10/86|N/A|$2,000|$2,000||$\u2014||$\u2014|\n| Revolving Credit Facility|||||||||\n|5-year revolving credit facility [1]|8/9/07|8/9/12|1,900|1,900||\u2014||\u2014|\n| Total Commercial Paper and RevolvingCredit Facility|||$3,900|$3,900| $| \u2014| $|\u2014|\n", + "[1] Terminated in January 2012, see discussion that follows.", + "While The Hartford\u2019s maximum borrowings available under its commercial paper program are $2.0 billion, the Company is dependent upon market conditions to access short-term financing through the issuance of commercial paper to investors.", + "As of December 31, 2011, the Company has no commercial paper outstanding.", + "In January 2012, the Company entered into a senior unsecured revolving credit facility (the \u201cCredit Facility\u201d) that provides for borrowing capacity up to $1.75 billion (which is available in U. S. dollars, and in Euro, Sterling, Canadian dollars and Japanese Yen) through January 6, 2016 and terminated its $1.9 billion unsecured revolving credit facility due August 9, 2012.", + "As of December 31, 2011, the Company was in compliance with all financial covenants under the terminated credit facility.", + "Of the total availability under the Credit Facility, up to $250 is available to support letters of credit issued on behalf of the Company or subsidiaries of the Company.", + "Under the Credit Facility, the Company must maintain a minimum level of consolidated net worth of $16 billion.", + "The minimum level of consolidated net worth, as defined, will be adjusted in the first quarter of 2012 upon the adoption of a new DAC accounting standard, see Note 1 of the Notes to Consolidated Financial Statements, by the lesser of approximately $1.0 billion, after-tax representing 70% of the adoption-related estimated DAC charge, or $1.7 billion.", + "The definition of consolidated net worth under the terms of the credit facility excludes AOCI and includes the Company\u2019s outstanding junior subordinated debentures and perpetual preferred securities, net of discount.", + "In addition, the Company\u2019s maximum ratio of consolidated total debt to consolidated total capitalization is 35%, and the ratio of consolidated total debt of subsidiaries to consolidated total capitalization is limited to 10%.", + "The Company will certify compliance with the financial covenants for the syndicate of participating financial institutions on a quarterly basis.", + "The Hartford\u2019s Japan operations also maintain two lines of credit in support of operations.", + "Both lines of credit are in the amount of $65, or \uffe55 billion, and individually have expiration dates of September 30, 2012 and January 3, 2013.", + "Derivative Commitments Certain of the Company\u2019s derivative agreements contain provisions that are tied to the financial strength ratings of the individual legal entity that entered into the derivative agreement as set by nationally recognized statistical rating agencies.", + "If the legal entity\u2019s 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 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\u2019s 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, 2011, is $725.", + "Of this $725 the legal entities have posted collateral of $716 in the normal course of business.", + "Based on derivative market values as of December 31, 2011, a downgrade of one level below the current financial strength ratings by either Moody\u2019s or S&P could require approximately an additional $37 to be posted as collateral.", + "Based on derivative market values as of December 31, 2011, a downgrade by either Moody\u2019s or S&P of two levels below the legal entities\u2019 current financial strength ratings could require approximately an additional $48 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 would post, if required, would be primarily in the form of U. S. Treasury bills and U. S. Treasury notes.", + "The aggregate notional amount of derivative relationships that could be subject to immediate termination in the event of rating agency downgrades to either BBB+ or Baa1 as of December 31, 2011 was $14.5 billion with a corresponding fair value of $418.", + "The notional and fair value amounts include a customized GMWB derivative with a notional amount of $4.2 billion and a fair value of $207, for which the Company has a contractual right to make a collateral payment in the amount of approximately $45 to prevent its termination.", + "This customized GMWB derivative contains an early termination trigger such that if the unsecured, unsubordinated debt of the counterparty\u2019s related party guarantor is downgraded two levels or more below the current ratings by Moody\u2019s and one or more levels by S&P, the counterparty could terminate all transactions under the applicable International Swaps and Derivatives Association Master Agreement.", + "As of December 31, 2011, the gross fair value of the affected derivative contracts is $223, which would approximate the settlement value.", + "THE HARTFORD FINANCIAL SERVICES GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) 5.", + "Investments and Derivative Instruments (continued) Security Unrealized Loss Aging The following tables present the Company\u2019s unrealized loss aging for AFS securities by type and length of time the security was in a continuous unrealized loss position.", + "||December 31, 2011|\n||Less Than 12 Months|12 Months or More|Total|\n|| Amortized| Fair|Unrealized| Amortized| Fair|Unrealized| Amortized| Fair|Unrealized|\n|| Cost| Value|Losses| Cost| Value|Losses| Cost| Value|Losses|\n|ABS|$629|$594|$-35|$1,169|$872|$-297|$1,798|$1,466|$-332|\n|CDOs|81|59|-22|2,709|2,383|-326|2,790|2,442|-348|\n|CMBS|1,297|1,194|-103|2,144|1,735|-409|3,441|2,929|-512|\n|Corporate [1]|4,388|4,219|-169|3,268|2,627|-570|7,656|6,846|-739|\n|Foreign govt./govt. agencies|218|212|-6|51|47|-4|269|259|-10|\n|Municipal|299|294|-5|627|560|-67|926|854|-72|\n|RMBS|415|330|-85|1,206|835|-371|1,621|1,165|-456|\n|U.S. Treasuries|343|341|-2|\u2014|\u2014|\u2014|343|341|-2|\n| Total fixed maturities|7,670|7,243|-427|11,174|9,059|-2,044|18,844|16,302|-2,471|\n|Equity securities|167|138|-29|439|265|-174|606|403|-203|\n| Total securities in an unrealized loss|$7,837|$7,381|$-456|$11,613|$9,324|$-2,218|$19,450|$16,705|$-2,674|\n", + "December 31, 2010", + "||December 31, 2010|\n||Less Than 12 Months|12 Months or More|Total|\n|| Amortized| Fair|Unrealized| Amortized| Fair|Unrealized| Amortized| Fair|Unrealized|\n|| Cost| Value|Losses| Cost| Value|Losses| Cost| Value|Losses|\n|ABS|$302|$290|$-12|$1,410|$1,026|$-384|$1,712|$1,316|$-396|\n|CDOs|321|293|-28|2,724|2,274|-450|3,045|2,567|-478|\n|CMBS|556|530|-26|3,962|3,373|-589|4,518|3,903|-615|\n|Corporate|5,533|5,329|-199|4,017|3,435|-548|9,550|8,764|-747|\n|Foreign govt./govt. agencies|356|349|-7|78|68|-10|434|417|-17|\n|Municipal|7,485|7,173|-312|1,046|863|-183|8,531|8,036|-495|\n|RMBS|1,744|1,702|-42|1,567|1,147|-420|3,311|2,849|-462|\n|U.S. Treasuries|2,436|2,321|-115|158|119|-39|2,594|2,440|-154|\n| Total fixed maturities|18,733|17,987|-741|14,962|12,305|-2,623|33,695|30,292|-3,364|\n|Equity securities|53|52|-1|637|506|-131|690|558|-132|\n| Total securities in an unrealized loss|$18,786|$18,039|$-742|$15,599|$12,811|$-2,754|$34,385|$30,850|$-3,496|\n", + "[1] Unrealized losses exclude the change in fair value of bifurcated embedded derivative features of certain securities.", + "Subsequent changes in fair value are recorded in net realized capital gains (losses).", + "As of December 31, 2011, AFS securities in an unrealized loss position, comprised of 2,549 securities, primarily related to corporate securities within the financial services sector, CMBS, and RMBS which have experienced significant price deterioration.", + "As of December 31, 2011, 75% of these securities were depressed less than 20% of cost or amortized cost.", + "The decline in unrealized losses during 2011 was primarily attributable to a decline in interest rates, partially offset by credit spread widening.", + "Most of the securities depressed for twelve months or more relate to structured securities with exposure to commercial and residential real estate, as well as certain floating rate corporate securities or those securities with greater than 10 years to maturity, concentrated in the financial services sector.", + "Current market spreads continue to be significantly wider for structured securities with exposure to commercial and residential real estate, as compared to spreads at the security\u2019s respective purchase date, largely due to the economic and market uncertainties regarding future performance of commercial and residential real estate.", + "In addition, the majority of securities have a floating-rate coupon referenced to a market index where rates have declined substantially.", + "The Company neither has an intention to sell nor does it expect to be required to sell the securities outlined above.", + "THE HARTFORD FINANCIAL SERVICES GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) F-40 5.", + "Investments and Derivative Instruments (continued) Variable Interest Entities The Company is involved with various special purpose entities and other entities that are deemed to be VIEs primarily as a collateral manager and as an investor through normal investment activities, as well as a means of accessing capital.", + "A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest or lacks sufficient funds to finance its own activities without financial support provided by other entities.", + "The Company performs ongoing qualitative assessments of its VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary.", + "The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE.", + "Based on the Company\u2019s assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in the Company\u2019s Consolidated Financial Statements.", + "Consolidated VIEs The following table presents the carrying value of assets and liabilities, and the maximum exposure to loss relating to the VIEs for which the Company is the primary beneficiary.", + "Creditors have no recourse against the Company in the event of default by these VIEs nor does the Company have any implied or unfunded commitments to these VIEs.", + "The Company\u2019s financial or other support provided to these VIEs is limited to its investment management services and original investment.", + "|| December 31, 2011| December 31, 2010|\n|| Total Assets| Total Liabilities [1]| Maximum Exposure to Loss [2]| Total Assets| Total Liabilities [1]| Maximum Exposure to Loss [2]|\n|CDOs [3]|$491|$471|$29|$729|$393|$289|\n|Limited partnerships|7|\u2014|7|14|1|13|\n| Total|$498|$471|$36|$743|$394|$302|\n", + "[1] Included in other liabilities in the Company\u2019s Consolidated Balance Sheets.", + "[2] The maximum exposure to loss represents the maximum loss amount that the Company could recognize as a reduction in net investment income or as a realized capital loss and is the cost basis of the Company\u2019s investment.", + "[3] Total assets included in fixed maturities, AFS, and fixed maturities, FVO, in the Company\u2019s Consolidated Balance Sheets.", + "CDOs represent structured investment vehicles for which the Company has a controlling financial interest as it provides collateral management services, earns a fee for those services and also holds investments in the securities issued by these vehicles.", + "Limited partnerships represent one hedge fund for which the Company holds a majority interest in the fund as an investment.", + "Non-Consolidated VIEs The Company holds a significant variable interest for one VIE for which it is not the primary beneficiary and, therefore, was not consolidated on the Company\u2019s Consolidated Balance Sheets.", + "This VIE represents a contingent capital facility (\u201cfacility\u201d) that has been held by the Company since February 2007 for which the Company has no implied or unfunded commitments.", + "Assets and liabilities recorded for the facility were $28 as of December 31, 2011 and $32 as of December 31, 2010.", + "Additionally, the Company has a maximum exposure to loss of $3 as of December 31, 2011 and $4 as of December 31, 2010, which represents the issuance costs that were incurred to establish the facility.", + "The Company does not have a controlling financial interest as it does not manage the assets of the facility nor does it have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the facility, as the asset manager has significant variable interest in the vehicle.", + "The Company\u2019s financial or other support provided to the facility is limited to providing ongoing support to cover the facility\u2019s operating expenses.", + "For further information on the facility, see Note 14.", + "In addition, the Company, through normal investment activities, makes passive investments in structured securities issued by VIEs for which the Company is not the manager which are included in ABS, CDOs, CMBS and RMBS in the Available-for-Sale Securities table and fixed maturities, FVO, in the Company\u2019s Consolidated Balance Sheets.", + "The Company has not provided financial or other support with respect to these investments other than its original investment.", + "For these investments, the Company determined it is not the primary beneficiary due to the relative size of the Company\u2019s investment in comparison to the principal amount of the structured securities issued by the VIEs, the level of credit subordination which reduces the Company\u2019s obligation to absorb losses or right to receive benefits and the Company\u2019s inability to direct the activities that most significantly impact the economic performance of the VIEs.", + "The Company\u2019s maximum exposure to loss on these investments is limited to the amount of the Company\u2019s investment.", + "In reporting environmental results, the Company classifies its gross exposure into Direct, Assumed Reinsurance, and London Market.", + "The following table displays gross environmental reserves and other statistics by category as of December 31, 2011.", + "Summary of Environmental Reserves As of December 31, 2011", + "||Total Reserves|\n|Gross [1] [2]||\n|Direct|$271|\n|Assumed Reinsurance|39|\n|London Market|57|\n|Total|367|\n|Ceded|-47|\n|Net|$320|\n", + "[1] The one year gross paid amount for total environmental claims is $58, resulting in a one year gross survival ratio of 6.4.", + "[2] The three year average gross paid amount for total environmental claims is $58, resulting in a three year gross survival ratio of 6.4.", + "During the second quarters of 2011, 2010 and 2009, the Company completed its annual ground-up asbestos reserve evaluations.", + "As part of these evaluations, the Company reviewed all of its open direct domestic insurance accounts exposed to asbestos liability, as well as assumed reinsurance accounts and its London Market exposures for both direct insurance and assumed reinsurance.", + "Based on this evaluation, the Company strengthened its net asbestos reserves by $290 in second quarter 2011.", + "During 2011, for certain direct policyholders, the Company experienced increases in claim frequency, severity and expense which were driven by mesothelioma claims, particularly against certain smaller, more peripheral insureds.", + "The Company also experienced unfavorable development on its assumed reinsurance accounts driven largely by the same factors experienced by the direct policyholders.", + "During 2010 and 2009, for certain direct policyholders, the Company experienced increases in claim severity and expense.", + "Increases in severity and expense were driven by litigation in certain jurisdictions and, to a lesser extent, development on primarily peripheral accounts.", + "The Company also experienced unfavorable development on its assumed reinsurance accounts driven largely by the same factors experienced by the direct policyholders.", + "The net effect of these changes in 2010 and 2009 resulted in $169 and $138 increases in net asbestos reserves, respectively.", + "The Company currently expects to continue to perform an evaluation of its asbestos liabilities annually.", + "The Company divides its gross asbestos exposures into Direct, Assumed Reinsurance and London Market.", + "The Company further divides its direct asbestos exposures into the following categories: Major Asbestos Defendants (the \u201cTop 70\u201d accounts in Tillinghast\u2019s published Tiers 1 and 2 and Wellington accounts), which are subdivided further as: Structured Settlements, Wellington, Other Major Asbestos Defendants, Accounts with Future Expected Exposures greater than $2.5, Accounts with Future Expected Exposures less than $2.5, and Unallocated. ?", + "Structured Settlements are those accounts where the Company has reached an agreement with the insured as to the amount and timing of the claim payments to be made to the insured. ?", + "The Wellington subcategory includes insureds that entered into the \u201cWellington Agreement\u201d dated June 19, 1985.", + "The Wellington Agreement provided terms and conditions for how the signatory asbestos producers would access their coverage from the signatory insurers. ?", + "The Other Major Asbestos Defendants subcategory represents insureds included in Tiers 1 and 2, as defined by Tillinghast that are not Wellington signatories and have not entered into structured settlements with The Hartford.", + "The Tier 1 and 2 classifications are meant to capture the insureds for which there is expected to be significant exposure to asbestos claims. ?", + "Accounts with future expected exposures greater or less than $2.5 include accounts that are not major asbestos defendants. ?", + "The Unallocated category includes an estimate of the reserves necessary for asbestos claims related to direct insureds that have not previously tendered asbestos claims to the Company and exposures related to liability claims that may not be subject to an aggregate limit under the applicable policies.", + "An account may move between categories from one evaluation to the next.", + "For example, an account with future expected exposure of greater than $2.5 in one evaluation may be reevaluated due to changing conditions and recategorized as less than $2.5 in a subsequent evaluation or vice versa." + ], + "question_id": "simplong-test-42", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much has the balance changed from 2013 to 2015?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Undistributed earnings of $696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the United States in the foreseeable future.", + "Because those earnings are considered to be indefinitely reinvested, no domestic federal or state deferred income taxes have been provided thereon.", + "If we were to make a distribution of any portion of those earnings in the form of dividends or otherwise, we would be subject to both U. S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to the various foreign jurisdictions.", + "Because of the availability of U. S. foreign tax credit carryforwards, it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely.", + "A valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.", + "Changes to our valuation allowance during the years ended May 31, 2015 and 2014 are summarized below (in thousands):", + "|Balance at May 31, 2013|$-28,464|\n|Utilization of foreign net operating loss carryforwards|2,822|\n|Allowance for foreign tax credit carryforward|18,061|\n|Other|382|\n|Balance at May 31, 2014|-7,199|\n|Utilization of foreign net operating loss carryforwards|3,387|\n|Other|-11|\n|Balance at May 31, 2015|$-3,823|\n", + "Net operating loss carryforwards of foreign subsidiaries totaling $12.4 million and U. S. net operating loss carryforwards previously acquired totaling $19.8 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2033 if not utilized.", + "Capital loss carryforwards of U. S. subsidiaries totaling $4.7 million will expire if not utilized by May 31, 2017.", + "Tax credit carryforwards totaling $8.4 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2023 if not utilized.", + "We conduct business globally and file income tax returns in the U. S. federal jurisdiction and various state and foreign jurisdictions.", + "In the normal course of business, we are subject to examination by taxing authorities around the world.", + "As a result of events that occurred in the fourth quarter of the year ended May 31, 2015, management concluded that it was more likely than not that the tax positions in a foreign jurisdiction, for which we had recorded estimated liabilities of $65.6 million in other noncurrent liabilities on our consolidated balance sheet, would be sustained on their technical merits based on information available as of May 31, 2015.", + "Therefore, the liability and corresponding deferred tax assets were eliminated as of May 31, 2015.", + "The uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority.", + "Discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased.", + "Subsequent to May 31, 2015, we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended May 31, 2010 through May 31, 2013.", + "The unrecognized tax benefits were effectively settled with this final closure notice.", + "We are no longer subjected to state income tax examinations for years ended on or before May 31, 2008, U. S. federal income tax examinations for fiscal years prior to 2012 and United Kingdom federal income tax examinations for years ended on or before May 31, 2013.", + "Item 6.", + "SELECTED FINANCIAL DATA The following table sets forth selected consolidated financial and other information as of and for each of the years in the five-year period ended December 31, 2007.", + "The table should be read in conjunction with our consolidated financial statements and the notes thereto, and Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations, included elsewhere in this Report.", + "||Years Ended December 31, (In thousands, except per share data and apartment homes owned)|\n||2007|2006|2005|2004|2003|\n| Operating Data(a)||||||\n|Rental income|$497,474|$463,719|$407,038|$306,691|$244,758|\n|Loss before minority interests and discontinued operations|-100,596|-91,870|-63,499|-58,003|-59,187|\n|Income from discontinued operations, net of minority interests|208,130|214,102|214,126|150,073|123,453|\n|Net income|221,349|128,605|155,166|97,152|70,404|\n|Distributions to preferred stockholders|13,911|15,370|15,370|19,531|26,326|\n|Net income available to common stockholders|205,177|113,235|139,796|71,892|24,807|\n|Common distributions declared|177,540|168,408|163,690|152,203|134,876|\n|Weighted average number of common shares outstanding \u2014 basic|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares outstanding \u2014 diluted|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares, OP Units, and common stock equivalents outstanding \u2014 diluted|146,936|147,981|150,141|145,842|136,975|\n|Per share \u2014 basic and diluted:||||||\n|Loss from continuing operations available to common stockholders, net of minority interests|$-0.02|$-0.75|$-0.54|$-0.61|$-0.86|\n|Income from discontinued operations, net of minority interests|1.55|1.60|1.57|1.17|1.08|\n|Net income available to common stockholders|1.53|0.85|1.03|0.56|0.22|\n|Common distributions declared|1.32|1.25|1.20|1.17|1.14|\n| Balance Sheet Data||||||\n|Real estate owned, at cost|$5,952,541|$5,820,122|$5,512,424|$5,243,296|$4,351,551|\n|Accumulated depreciation|1,371,759|1,253,727|1,123,829|1,007,887|896,630|\n|Total real estate owned, net of accumulated depreciation|4,580,782|4,566,395|4,388,595|4,235,409|3,454,921|\n|Total assets|4,801,121|4,675,875|4,541,593|4,332,001|3,543,643|\n|Secured debt|1,137,936|1,182,919|1,116,259|1,197,924|1,018,028|\n|Unsecured debt|2,364,740|2,155,866|2,043,518|1,682,058|1,114,009|\n|Total debt|3,502,676|3,338,785|3,159,777|2,879,982|2,132,037|\n|Stockholders\u2019 equity|1,019,393|1,055,255|1,107,724|1,195,451|1,163,436|\n|Number of common shares outstanding|133,318|135,029|134,012|136,430|127,295|\n| Other Data||||||\n| Cash Flow Data||||||\n|Cash provided by operating activities|$250,578|$229,613|$248,186|$251,747|$234,945|\n|Cash used in investing activities|-71,397|-149,973|-219,017|-595,966|-304,217|\n|Cash (used in)/provided by financing activities|-178,105|-93,040|-21,530|347,299|70,944|\n| Funds from Operations(b)||||||\n|Funds from operations \u2014 basic|$247,210|$244,471|$238,254|$211,670|$193,750|\n|Funds from operations \u2014 diluted|250,936|248,197|241,980|219,557|208,431|\n| Apartment Homes Owned||||||\n|Total apartment homes owned at December 31|65,867|70,339|74,875|78,855|76,244|\n|Weighted average number of apartment homes owned during the year|69,662|73,731|76,069|76,873|74,550|\n", + "(a) Reclassified to conform to current year presentation in accordance with FASB Statement No.144, \u201cAccounting for the Impairment or Disposal of Long-Lived Assets,\u201d as described in Note 3 to the consolidated financial statements.", + "(b) Funds from operations, or FFO, is defined as net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of depreciable property, premiums or original issuance costs associated with preferred stock redemptions, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.", + "This defini\u0002tion conforms with the National Association of Real Estate Investment Trust\u2019s definition issued in April 2002.", + "We consider FFO in evaluating property acquisitions and our operating performance and believe that FFO should be considered along with, but not as an alternative to, net income and cash flows as a measure of our activities in accordance with generally accepted accounting principles.", + "FFO does not represent cash generated from operating activities in accordance with generally accepted accounting principles and is not necessarily indicative of cash available to fund cash needs.", + "RE3 is our subsidiary that focuses on development, land entitlement and short-term hold investments.", + "RE3 tax benefits and gain on sales, net of taxes, is defined as net sales proceeds less a tax provision and the gross investment basis of the asset before accumulated depreciation.", + "We consider FFO with RE3 tax benefits and gain on sales, net of taxes, to be a meaningful supplemental measure of per\u0002formance because the short-term use of funds produce a profit that differs from the traditional long-term investment in real estate for REITs.", + "For 2005, FFO includes $2.5 million of hurricane related insurance recoveries.", + "For 2004, FFO includes a charge of $5.5 million to cover hurricane related expenses.", + "For the years ended December 31, 2007, 2004 and 2003, distributions to preferred stockholders exclude $2.6 million, $5.7 million and $19.3 million, respectively, related to premiums on preferred stock repurchases.", + "$1,138 per home, and major renovations totaled $71.8 million or $1,045 per home for the year ended December 31, 2007.", + "The following table outlines capital expenditures and repair and maintenance costs for all of our communities, excluding real estate under development, condominium conversions and commercial properties, for the periods presented:", + "||Year Ended December 31, (dollars in thousands)|Year Ended December 31, (per home)|\n|| 2007| 2006|% Change| 2007| 2006|% Change|\n|Turnover capital expenditures|$13,362|$14,214|-6.0%|$194|$197|-1.5%|\n|Asset preservation expenditures|31,071|20,409|52.2%|452|283|59.7%|\n|Total recurring capital expenditures|44,433|34,623|28.3%|646|480|34.6%|\n|Revenue enhancing improvements|78,209|144,102|-45.7%|1,138|2,002|-43.2%|\n|Major renovations|71,785|36,996|94.0%|1,045|514|103.3%|\n|Total capital expenditures|$194,427|$215,721|-9.9%|$2,829|$2,996|-5.6%|\n|Repair and maintenance expense|$42,518|$43,498|-2.3%|$619|$604|2.5%|\n", + "Total capital expenditures for our communities decreased $21.3 million or $167 per home for the year ended December 31, 2007 compared to the same period in 2006.", + "This decrease was attributable to a $65.9 million decrease in revenue enhancing improvements at certain of our properties that was offset by an additional $9.8 million being invested in recurring capital expenditures and an additional $34.8 million being invested in major renovations as compared to the same period in 2006.", + "We will continue to selectively add revenue enhancing improvements which we believe will provide a return on investment substantially in excess of our cost of capital.", + "Recurring capital expenditures during 2008 are currently expected to be approximately $650 per home.", + "Impairment of Long-Lived Assets We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets.", + "Our cash flow estimates are based upon historical results adjusted to reflect our best estimate of future market and operating conditions and our estimated holding periods.", + "The net book value of impaired assets is reduced to fair market value.", + "Our estimates of fair market value represent our best estimate based upon industry trends and reference to market rates and transactions.", + "Real Estate Investment Properties We purchase real estate investment properties from time to time and allocate the purchase price to various components, such as land, buildings, and intangibles related to in-place leases in accordance with FASB Statement No.141, \u201cBusiness Combinations.", + "\u201d The purchase price is allocated based on the relative fair value of each component.", + "The fair value of buildings is determined as if the buildings were vacant upon acquisition and subsequently leased at market rental rates.", + "As such, the determination of fair value considers the present value of all cash flows expected to be generated from the property including an initial lease-up period.", + "We determine the fair value of in-place leases by assessing the net effective rent and remaining term of the lease relative to market terms for similar leases at acquisition.", + "In addition, we consider the cost of acquiring similar leases, the foregone rents associated with the lease-up period, and the carrying costs associated with the lease-up period.", + "The fair value of in-place leases is recorded and amortized as amortization expense over the remaining contractual lease period." + ], + "question_id": "simplong-test-43", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the change in asset retirement obligations between 2002 and 2003?\\\\n", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable.", + "In the event such cash flows are not expected to be sufficient to recover the recorded value of the assets, the assets are written down to their estimated fair values (see Note 5).", + "ASSET RETIREMENT OBLIGATIONS\u2014Effective January 1, 2003, the Company adopted Statement of Financial Accounting Standards (\u2018\u2018SFAS\u2019\u2019) No.143, \u2018\u2018Accounting for Asset Retirement Obligations.", + "\u2019\u2019 SFAS No.143 requires the Company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred.", + "When a new liability is recorded the Company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset.", + "The liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset.", + "Upon settlement of the liability, the Company settles the obligation for its recorded amount or incurs a gain or loss upon settlement.", + "The Company\u2019s retirement obligations covered by SFAS No.143 include primarily active ash landfills, water treatment basins and the removal or dismantlement of certain plant and equipment.", + "As of December 31, 2003 and 2002, the Company had recorded liabilities of approximately $29 million and $15 million, respectively, related to asset retirement obligations.", + "There are no assets that are legally restricted for purposes of settling asset retirement obligations.", + "Upon adoption of SFAS No.143, the Company recorded an additional liability of approximately $13 million, a net asset of approximately $9 million, and a cumulative effect of a change in accounting principle of approximately $2 million, after income taxes.", + "Amounts recorded related to asset retirement obligations during the years ended December 31, 2003 were as follows (in millions):", + "|Balance at December 31, 2002|$15|\n|Additional liability recorded from cumulative effect of accounting change|13|\n|Accretion expense|2|\n|Change in the timing of estimated cash flows|-1|\n|Balance at December 31, 2003|$29|\n", + "Proforma net (loss) income and (loss) earnings per share have not been presented for the years ended December 31, 2002 and 2001 because the proforma application of SFAS No.143 to prior periods would result in proforma net (loss) income and (loss) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations.", + "Had SFAS 143 been applied during all periods presented the asset retirement obligation at January 1, 2001, December 31, 2001 and December 31, 2002 would have been approximately $21 million, $23 million and $28 million, respectively.", + "Included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at IPALCO amounting to $361 million and $339 million at December 31, 2003 and 2002, respectively.", + "DEFERRED FINANCING COSTS\u2014Financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method.", + "Deferred financing costs are shown net of accumulated amortization of $202 million and $173 million as of December 31, 2003 and 2002, respectively.", + "PROJECT DEVELOPMENT COSTS\u2014The Company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project\u2019s completion is probable.", + "These costs represent amounts incurred for professional services, permits, options, capitalized interest, and other costs directly related to construction.", + "These costs are transferred to construction in progress when significant construction activity commences, or expensed at the time the Company determines that development of a particular project is no longer probable (see Note 5).", + "We review and assess operating performance using segment revenues and operating income before interest, taxes and minority interest.", + "These performance measures include the allocation of expenses to the operating segments based on management judgment.", + "Prior to the third quarter of 2003, we had two reportable segments: the Core Products and Foundry Services segments.", + "Primarily as a result of the formation of FASL LLC, we re\u0002evaluated our reportable segments.", + "Beginning in the third quarter of 2003, we changed our reportable segments to: the Computation Products segment, which includes microprocessor products for desktop and mobile PCs, servers and workstations and chipset products, and the Memory Products segment, which includes Flash memory products.", + "We believe that separate reporting of these operating segments, given our new focus on FASL LLC as a separate operating company and its separate market brand\u2014Spansion, provides more useful information to our stockholders.", + "In addition to our reportable segments, we also have the All Other category that is not a reportable segment, but rather it includes other small operating segments that are neither individually nor in the aggregate greater than ten percent of our consolidated revenues or assets.", + "This category also includes certain operating expenses and credits that are not allocated to the operating segments.", + "Prior period segment information has been reclassified to conform to the current period presentation.", + "However, as FASL LLC did not exist prior to June 30, 2003, the results of operations for prior periods did not include the consolidation of FASL LLC\u2019s operations.", + "Accordingly, the segment operating information for the Memory Products segment for the year ended December 28, 2003, is not fully comparable to the reclassified segment information for all prior periods presented.", + "We use a 52- to 53-week fiscal year ending on the last Sunday in December.", + "The years ended December 28, 2003, December 29, 2002, and December 30, 2001, each included 52 weeks.", + "The following is a summary of our net sales for 2003, 2002 and 2001.", + "|| 2003| 2002| 2001|\n|| (Millions)|\n|Computation Products|$1,960|$1,756|$2,466|\n|Memory Products|1,419|741|1,133|\n|All Other|140|200|293|\n|Total|$3,519|$2,697|$3,892|\n", + "Net Sales Comparison for Years Ended December 28, 2003 and December 29, 2002 Total net sales of $3,519 million in 2003 increased 30 percent compared to net sales of $2,697 million in 2002.", + "Computation Products net sales of $1,960 million in 2003 increased 12 percent compared to net sales of $1,756 million in 2002.", + "The increase in net sales was primarily due to a 15 percent increase in microprocessor unit shipments due primarily to increased demand from our OEM customers, partially offset by a decline of four percent in the average selling prices of our microprocessor products.", + "Unit shipment growth was particularly strong in Latin America and China, which accounted for 77 percent of overall unit growth.", + "Memory Products net sales of $1,419 million in 2003 increased 92 percent compared to net sales of $741 million in 2002.", + "The increase in net sales was primarily attributable to the effect of consolidating FASL LLC\u2019s results of operations, which include FASL LLC\u2019s sales to Fujitsu, and increased demand for Flash memory products.", + "Further quantification of the breakdown in the increase in net sales is not practical due to the reorganization of geographical sales territories between AMD and Fujitsu.", + "All Other net sales of $140 million in 2003 decreased 30 percent compared to net sales of $200 million in 2002 and consisted primarily of net sales of our Personal Connectivity Solutions products.", + "The decrease was due", + "We recorded an income tax provision of $3 million in 2003, an income tax provision of $45 million in 2002 and an income tax benefit of $14 million in 2001.", + "The income tax provision in 2003 primarily reflected income tax expense generated in certain foreign tax jurisdictions, offset by a benefit of a U. S. federal tax refund from a carryback claim we filed in 2003.", + "No net tax benefit was recorded in 2003 on pre-tax losses due to continuing operating losses.", + "Our tax provision for 2003 does not reflect an increase in our net deferred tax liability of approximately $46 million.", + "This net deferred tax liability was recognized by the Japanese subsidiary of FASL LLC, FASL JAPAN, as tax expense in periods prior to our consolidation of FASL LLC on June 30, 2003, and therefore has not been recorded as a component of our tax expense for 2003.", + "The 2002 income tax provision was recorded primarily for taxes due on income generated in certain state and foreign tax jurisdictions.", + "No tax benefit was recorded in 2002 on pre-tax losses due to the establishment of a valuation allowance against the remainder of our U. S. deferred tax assets, net of U. S. deferred tax liabilities in the fourth quarter, due to the incurrence of continuing substantial operating losses in the U. S. The effective benefit rate of 15.4 percent for 2001 was less than the statutory rate because of a lower than U. S. statutory 24 percent tax benefit rate on the 2001 restructuring charges, reflecting the allocation of the charges between the U. S. and foreign lower-taxed jurisdictions, and a provision for U. S. taxes on certain previously undistributed earnings of lower-taxed foreign subsidiaries.", + "Other Items International sales as a percent of net sales were 80 percent in 2003, compared to 73 percent in 2002 and 67 percent in 2001.", + "During 2003, approximately 15 percent of our net sales were denominated in currencies other than the U. S. dollar, primarily the Japanese yen, as compared to one percent during 2002.", + "The increase was primarily due to the consolidation of FASL LLC\u2019s results of operations, which include sales by FASL LLC to Fujitsu, which are denominated in yen.", + "Our foreign exchange risk exposure resulting from these sales is partially mitigated as a result of our yen-denominated manufacturing costs.", + "In addition, we are subject to foreign currency risk related to our manufacturing costs in Fab 30, which are denominated in euros.", + "We use foreign currency forward and option contracts to reduce our exposure to the euro, but future exchange rate fluctuations may cause increases or decreases to our Fab 30 manufacturing costs.", + "The impact on our operating results from changes in foreign currency rates individually and in the aggregate has not been material, principally as a result of our foreign currency hedging activities.", + "Comparison of Operating Income (Loss) The following is a summary of operating income (loss) for 2003, 2002 and 2001:", + "||2003|2002|2001|\n||(Millions)|\n|Computation Products|$-23|$-661|$-191|\n|Memory Products|-189|-159|268|\n|All Other|-21|-405|-135|\n|Total|$-233|$-1,225|$-58|\n", + "Computation Products operating loss of $23 million in 2003 improved by $638 million compared to $661 million in 2002.", + "The improvement was primarily due to incremental net sales of $204 million and a decrease in both manufacturing costs of $330 million and marketing, general and administrative expenses of $39 million, which resulted primarily from our cost reduction initiatives and the 2002 Restructuring Plan.", + "In addition, cooperative advertising and marketing expenses decreased by $55 million from 2002.", + "Computation Products operating loss of $661 million in 2002 increased by $470 million compared to $191 million in 2001 primarily due to a decrease in net sales.", + "The decrease was primarily due to a decline in average selling prices of 13 percent and a decline in unit sales of 16 percent for microprocessors as a result of the sustained downturn in the PC industry.", + "The amortized cost and estimated fair value of available-for-sale marketable securities at December 28, 2003, by contractual maturity, are shown below.", + "Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.", + "The Company does not have any available-for-sale marketable securities with maturities greater than five years from December 28, 2003.", + "|| Amortized Cost| Estimated Fair Value|\n|| (thousands)|\n|Due in one year or less|$119,105|$119,191|\n|Due after one year through five years|8,387|8,372|\n|Total|$127,492|$127,563|\n", + "The Company realized net gains from the sale of available-for-sale securities of $3.7 million and $5.3 million in 2003 and 2002, and net losses of $1.6 million in 2001.", + "At December 28, 2003 and December 29, 2002, the Company had approximately $12 million and $13 million of investments classified as held to maturity, consisting of commercial paper and treasury notes used for long-term workers\u2019 compensation and leasehold deposits, that are included in other assets.", + "The fair market value of these investments approximates their cost at December 28, 2003 and December 29, 2002.", + "The compensating balance of $218 million at December 28, 2003 represents the minimum cash balance that AMD Saxony must maintain pursuant to the terms of the Dresden Loan Agreements (see Notes 7 and 12).", + "Included in other current assets is $22 million of restricted cash associated with the advance receipt of interest subsidies from the Federal Republic of Germany and the State of Saxony.", + "Restrictions over the Company\u2019s access to the restricted cash will lapse as the Company incurs qualifying interest expense on the Dresden term loans (see Notes 7 and 12) over the next four quarters.", + "Fair Value of Other Financial Instruments.", + "The Company estimates the fair value of its debt instruments using a discounted cash flow analysis based on estimated interest rates for similar types of currently available instruments with similar remaining maturities.", + "The carrying amounts and estimated fair values of the Company\u2019s debt instruments are as follows:", + "|| 2003| 2002|\n|| Carrying amount| Estimated Fair Value| Carrying amount| Estimated Fair Value|\n|| (Thousands)|\n|Notes payable to banks|$\u2014|$\u2014|$913|$913|\n|Long-term debt and capital leases:|||||\n|Capital leases|245,958|244,641|40,321|37,229|\n|Long-term debt (excluding capital leases)|1,846,982|1,846,982|1,599,734|1,599,734|\n|Total long-term debt and capital leases|2,092,940|2,091,623|1,640,055|1,636,963|\n|Less: current portion|193,266|192,725|71,348|70,192|\n|Total long-term debt and capital leases, less current portion|$1,899,674|$1,898,898|$1,568,707|$1,566,771|\n", + "The fair value of the Company\u2019s accounts receivable and accounts payable approximate book value based on existing payment terms." + ], + "question_id": "simplong-test-44", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in pro forma diluted earnings per common share from 2001 to 2002?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "are reclassified to contributions in aid of construction.", + "Utility plant funded by advances and contributions is excluded from the rate base.", + "Generally, we depreciate contributed property and amortize contributions in aid of construction at the composite rate of the related property.", + "Some of our subsidiaries do not depreciate contributed property, based on regulatory guidelines.", + "We use our capital resources, including cash, primarily to; (i) fund operating and capital requirements; (ii) pay interest and meet debt maturities; (iii) pay dividends; (iv) fund pension and postretirement welfare obligations; and (v) fund acquisitions.", + "We invest a significant amount of cash on regulated capital projects where we expect to earn a long-term return on investment.", + "Additionally, we operate in rate-regulated environments in which the amount of new investment recovery may be limited, and where such recovery takes place over an extended period of time, as our recovery is subject to regulatory lag.", + "See Item 1\u2014Business\u2014Operating Segments\u2014Regulated Businesses\u2014Economic Regulation and Rate Making Process.", + "We expect to fund future maturities of long-term debt through a combination of external debt and, to the extent available, cash flows from operations.", + "Since we expect our capital investments over the next few years to be greater than or equal to our cash flows from operating activities, we have no plans to reduce debt significantly.", + "If necessary, the Company may delay certain capital investments or other funding requirements or pursue financing from other sources to preserve liquidity, if necessary.", + "In this event, we believe we can rely upon cash flows from operations to meet our obligations and fund our minimum required capital investments for an extended period of time.", + "Cash Flows Provided by Operating Activities Cash flows provided by operating activities primarily result from the sale of water and wastewater services and, due to the seasonality of demand, are generally greater during the third quarter of each fiscal year.", + "Our future cash flows provided by operating activities will be affected by, among other things, economic utility regulation; infrastructure investment; inflation; compliance with environmental, health and safety standards; production costs; customer growth; declining customer usage of water; employee-related costs, including pension funding; weather and seasonality; and overall economic conditions.", + "Cash flows provided by operating activities have been a reliable, steady source of funding, sufficient to meet operating requirements, make our dividend payments and fund a portion of our capital expenditure requirements.", + "We expect to seek access to debt capital markets to meet the balance of our capital expenditure requirements as needed.", + "We also have access to equity capital markets, if needed.", + "Operating cash flows can be negatively affected by changes in our rate regulated environments or changes in our customers\u2019 economic outlook and ability to pay for service in a timely manner.", + "As such, our working capital needs are primarily limited to funding increases in customer accounts receivable and unbilled revenues mainly associated with revenue increases in our Regulated Businesses.", + "We can provide no assurance that our customers\u2019 historical payment pattern will continue in the future.", + "We address cash timing differences through the liquidity funding mechanisms discussed above.", + "The following table provides a summary of the major items affecting our cash flows provided by operating activities:", + "||For the Years Ended December 31,|\n||2015|2014|2013|\n||(In millions)|\n|Net income|$476|$423|$369|\n|Add (less):||||\n|Non-cash activities(a)|773|723|762|\n|Changes in working capital(b)|-13|3|-137|\n|Pension and postretirement benefit contributions|-57|-52|-98|\n|Net cash flows provided by operating activities|$1,179|$1,097|$896|\n", + "Baker Hughes, a GE company Notes to Consolidated and Combined Financial Statements", + "|(In millions, except per share amounts)|2017|2016|2015|\n|Net income (loss)|$-242|$334|$-631|\n|Less: Net income (loss) attributable to GE O&G pre-merger|109|403|-606|\n|Less: Net loss attributable to noncontrolling interests|-278|-69|-25|\n|Net loss attributable to BHGE|$-73|$\u2014|$\u2014|\n|Weighted average shares outstanding:||||\n|Class A basic & diluted|427|||\n|Net loss per share attributable to common stockholders:||||\n|Class A basic & diluted|$-0.17|||\n", + "The allocation of net loss to holders of shares of Class A common stock began following the close of the Transactions on July 3, 2017.", + "Therefore, the earnings per share is Nil for 2016 and 2015.", + "Please refer to \"Note 2. Business Acquisition\" for proforma earnings per share.", + "As of July 3, 2017, GE, BHGE and BHGE LLC entered into an Exchange Agreement under which GE is entitled to exchange its holding in Class B common stock and units of BHGE LLC for Class A common stock on a one-for\u0002one basis (subject to adjustment in accordance with the terms of the Exchange Agreement) or, at the option of BHGE, an amount of cash equal to the aggregate value of the shares of Class A common stock that would have otherwise been received by GE in the exchange.", + "In computing the dilutive effect, if any, that the aforementioned exchange would have on net income (loss) per share, net income (loss) attributable to holders of Class A common stock would be adjusted due to the elimination of the noncontrolling interests associated with the Class B common stock (including any tax impact).", + "For the year ended December 31, 2017, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive.", + "For the year ended December 31, 2017, we excluded outstanding stock options and RSUs from the computation of diluted net income (loss) per share because their effect is antidilutive.", + "Shares of our Class B common stock do not share in earnings or losses of the Company and are not considered in the calculation of basic or diluted earnings per share (EPS).", + "As such, separate presentation of basic and diluted EPS of Class B under the two class method has not been presented.", + "NOTE 14.", + "FINANCIAL INSTRUMENTS RECURRING FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities.", + "||2017|2016|\n||Level 1|Level 2|Level 3|Net Balance|Level 1|Level 2|Level 3|Net Balance|\n|Assets|||||||||\n|Derivatives|$\u2014|$150|$\u2014|$150|$\u2014|$318|$\u2014|$318|\n|Investment securities|81|8|304|393|\u2014|\u2014|\u2014|\u2014|\n|Total assets|81|158|304|543|\u2014|318|\u2014|318|\n|Liabilities|||||||||\n|Derivatives|\u2014|-95|\u2014|-95|\u2014|-375|\u2014|-375|\n|Total liabilities|$\u2014|$-95|$\u2014|$-95|$\u2014|$-375|$\u2014|$-375|\n", + "Notes to Consolidated Financial Statements (continued) disclosure of, the issuance of certain types of guarantees.", + "The adoption of FASB Interpretation No.45 did not have a signif\u0002icant impact on the net income or equity of the Company.", + "In January 2003, FASB Interpretation No.46, \u201cConsolidation of Variable Interest Entities, an interpretation of ARB 51,\u201d was issued.", + "The primary objectives of this interpretation, as amended, are to provide guidance on the identification and consolidation of variable interest entities, or VIEs, which are entities for which control is achieved through means other than through voting rights.", + "The Company has completed an analysis of this Interpretation and has determined that it does not have any VIEs.4.", + "Acquisitions Family Health Plan, Inc.", + "Effective January 1, 2004, the Company commenced opera\u0002tions in Ohio through the acquisition from Family Health Plan, Inc. of certain Medicaid-related assets for a purchase price of approximately $6,800.", + "The cost to acquire the Medicaid-related assets will be allocated to the assets acquired and liabilities assumed according to estimated fair values.", + "HMO Blue Texas Effective August 1, 2003, the Company acquired certain Medicaid-related contract rights of HMO Blue Texas in the San Antonio, Texas market for $1,045.", + "The purchase price was allocated to acquired contracts, which are being amor\u0002tized on a straight-line basis over a period of five years, the expected period of benefit.", + "Group Practice Affiliates During 2003, the Company acquired a 100% ownership interest in Group Practice Affiliates, LLC, a behavioral healthcare services company (63.7% in March 2003 and 36.3% in August 2003).", + "The consolidated financial state\u0002ments include the results of operations of GPA since March 1, 2003.", + "The Company paid $1,800 for its purchase of GPA.", + "The cost to acquire the ownership interest has been allocated to the assets acquired and liabilities assumed according to estimated fair values and is subject to adjustment when additional information concerning asset and liability valuations are finalized.", + "The preliminary allocation has resulted in goodwill of approximately $3,895.", + "The goodwill is not amortized and is not deductible for tax purposes.", + "Pro forma disclosures related to the acquisition have been excluded as immaterial.", + "ScriptAssist In March 2003, the Company purchased contract and name rights of ScriptAssist, LLC (ScriptAssist), a medication com\u0002pliance company.", + "The purchase price of $563 was allocated to acquired contracts, which are being amortized on a straight-line basis over a period of five years, the expected period of benefit.", + "The investor group who held membership interests in ScriptAssist included one of the Company\u2019s executive officers.", + "University Health Plans, Inc. On December 1, 2002, the Company purchased 80% of the outstanding capital stock of University Health Plans, Inc. (UHP) in New Jersey.", + "In October 2003, the Company exercised its option to purchase the remaining 20% of the outstanding capital stock.", + "Centene paid a total purchase price of $13,258.", + "The results of operations for UHP are included in the consolidated financial statements since December 1, 2002.", + "The acquisition of UHP resulted in identified intangible assets of $3,800, representing purchased contract rights and provider network.", + "The intangibles are being amortized over a ten-year period.", + "Goodwill of $7,940 is not amortized and is not deductible for tax purposes.", + "Changes during 2003 to the preliminary purchase price allocation primarily consisted of the purchase of the remaining 20% of the outstanding stock and the recognition of intangible assets and related deferred tax liabilities.", + "The following unaudited pro forma information presents the results of operations of Centene and subsidiaries as if the UHP acquisition described above had occurred as of January 1, 2001.", + "These pro forma results may not necessar\u0002ily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.", + "||2002|2001|\n|Revenue|$567,048|$395,155|\n|Net earnings|25,869|11,573|\n|Diluted earnings per common share|1.48|1.00|\n", + "Texas Universities Health Plan In June 2002, the Company purchased SCHIP contracts in three Texas service areas.", + "The cash purchase price of $595 was recorded as purchased contract rights, which are being amortized on a straight-line basis over five years, the expected period of benefit.", + "Bankers Reserve In March 2002, the Company acquired Bankers Reserve Life Insurance Company of Wisconsin for a cash purchase price of $3,527.", + "The Company allocated the purchase price to net tangible and identifiable intangible assets based on their fair value.", + "Centene allocated $479 to identifiable intangible assets, representing the value assigned to acquired licenses, which are being amortized on a straight-line basis over a", + "M & T BANK CORPORATION AND SUBSIDIARIES Notes to Financial Statements \u2014 (Continued) delinquent or foreclosed loans from the trusts by the Company in 2006 or 2005.", + "Certain cash flows between the Company and the trusts were as follows:", + "|| Year Ended December 31|\n|| 2006| 2005|\n|| (In thousands)|\n|Principal and interest payments on retained securities|$173,207|$240,211|\n|Servicing fees received|2,223|2,735|\n", + "A summary of the fair values of retained subordinated interests resulting from the Company\u2019s residential mortgage loan securitization activities follows.", + "Although the estimated fair values of the retained subordinated interests were obtained from independent pricing sources, the Company has modeled the sensitivity of such fair values to changes in certain assumptions as summarized in the table below.", + "These calculated sensitivities are hypothetical and actual changes in the fair value may differ significantly from the amounts presented herein.", + "The effect of a variation in a particular assumption on the fair values is calculated without changing any other assumption.", + "In reality, changes in one factor may result in changes in another which may magnify or counteract the sensitivities.", + "The changes in assumptions are presumed to be instantaneous.", + "The hypothetical effect of adverse changes on the Company\u2019s retained capitalized servicing assets at December 31, 2006 is included in note 7." + ], + "question_id": "simplong-test-45", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of all Qualifying Accounting Hedges-2 that are positive to the total amount, in 2010 for Gross Derivative Assets?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTE 3 Trading Account Assets and Liabilities The table below presents the components of trading account assets and liabilities at December 31, 2010 and 2009.", + "|| December 31|\n|(Dollars in millions)| 2010|2009|\n| Trading account assets|||\n|U.S. government and agency securities-1|$60,811|$44,585|\n|Corporate securities, trading loans and other|49,352|57,009|\n|Equity securities|32,129|33,562|\n|Non-U.S.sovereign debt|33,523|28,143|\n|Mortgage trading loans and asset-backed securities|18,856|18,907|\n| Total trading account assets|$194,671|$182,206|\n| Trading account liabilities|||\n|U.S. government and agency securities|$29,340|$26,519|\n|Equity securities|15,482|18,407|\n|Non-U.S.sovereign debt|15,813|12,897|\n|Corporate securities and other|11,350|7,609|\n| Total trading account liabilities|$71,985|$65,432|\n", + "(1) Includes $29.7 billion and $23.5 billion at December 31, 2010 and 2009 of GSE obligations.", + "NOTE 4 Derivatives Derivative Balances Derivatives are entered into on behalf of customers, for trading, as economic hedges or as qualifying accounting hedges.", + "The Corporation enters into derivatives to facilitate client transactions, for principal trading purposes and to manage risk exposures.", + "For additional information on the Corporation\u2019s derivatives and hedging activities, see Note 1 \u2013 Summary of Significant Accounting Principles.", + "The table below identifies derivative instruments in\u0002cluded on the Corporation\u2019s Consolidated Balance Sheet in derivative assets and liabilities at December 31, 2010 and 2009.", + "Balances are presented on a gross basis, prior to the application of counterparty and collateral netting.", + "Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral applied.", + "|||December 31, 2010|\n|||Gross Derivative Assets|Gross Derivative Liabilities|\n||| Trading ||| Trading |||\n||| Derivatives ||| Derivatives |||\n||| and | Qualifying || and | Qualifying ||\n|| Contract/ | Economic | Accounting || Economic | Accounting ||\n|(Dollars in billions)| Notional-1| Hedges| Hedges-2|Total| Hedges| Hedges-2|Total|\n| Interest rate contracts||||||||\n|Swaps|$42,719.2|$1,193.9|$14.9|$1,208.8|$1,187.9|$2.2|$1,190.1|\n|Futures and forwards|9.939.2|6.0|\u2013|6.0|4.7|\u2013|4.7|\n|Written options|2,887.7|\u2013|\u2013|\u2013|82.8|\u2013|82.8|\n|Purchased options|3,026.2|88.0|\u2013|88.0|\u2013|\u2013|\u2013|\n| Foreign exchange contracts||||||||\n|Swaps|630.1|26.5|3.7|30.2|28.5|2.1|30.6|\n|Spot, futures and forwards|2,652.9|41.3|\u2013|41.3|44.2|\u2013|44.2|\n|Written options|439.6|\u2013|\u2013|\u2013|13.2|\u2013|13.2|\n|Purchased options|417.1|13.0|\u2013|13.0|\u2013|\u2013|\u2013|\n| Equity contracts||||||||\n|Swaps|42.4|1.7|\u2013|1.7|2.0|\u2013|2.0|\n|Futures and forwards|78.8|2.9|\u2013|2.9|2.1|\u2013|2.1|\n|Written options|242.7|\u2013|\u2013|\u2013|19.4|\u2013|19.4|\n|Purchased options|193.5|21.5|\u2013|21.5|\u2013|\u2013|\u2013|\n| Commodity contracts||||||||\n|Swaps|90.2|8.8|0.2|9.0|9.3|\u2013|9.3|\n|Futures and forwards|413.7|4.1|\u2013|4.1|2.8|\u2013|2.8|\n|Written options|86.3|\u2013|\u2013|\u2013|6.7|\u2013|6.7|\n|Purchased options|84.6|6.6|\u2013|6.6|\u2013|\u2013|\u2013|\n| Credit derivatives||||||||\n|Purchased credit derivatives:||||||||\n|Credit default swaps|2,184.7|69.8|\u2013|69.8|34.0|\u2013|34.0|\n|Total return swaps/other|26.0|0.9|\u2013|0.9|0.2|\u2013|0.2|\n|Written credit derivatives:||||||||\n|Credit default swaps|2,133.5|33.3|\u2013|33.3|63.2|\u2013|63.2|\n|Total return swaps/other|22.5|0.5|\u2013|0.5|0.5|\u2013|0.5|\n|Gross derivative assets/liabilities||$1,518.8|$18.8|$1,537.6|$1,501.5|$4.3|$1,505.8|\n|Less: Legally enforceable master netting agreements||||-1,406.3|||-1,406.3|\n|Less: Cash collateral applied||||-58.3|||-43.6|\n| Total derivative assets/liabilities||||$73.0|||$55.9|\n", + "(1) Represents the total contract/notional amount of derivative assets and liabilities outstanding.", + "(2) Excludes $4.1 billion of long-term debt designated as a hedge of foreign currency risk.", + "Core Net Interest Income We manage core net interest income which is reported net interest income on a FTE basis adjusted for the impact of market-based activities.", + "As discussed in the GBAM business segment section beginning on page 49, we evaluate our market-based results and strategies on a total market-based revenue approach by combining net interest income and noninterest income for GBAM.", + "In addition, 2009 is presented on a managed basis which is adjusted for loans that we originated and subsequently sold into credit card securitizations.", + "Noninterest income, rather than net interest income and provision for credit losses, was recorded for securitized assets as we are compensated for servicing the securitized assets and we recorded servicing income and gains or losses on securitizations, where appropriate.2010 is presented in accor\u0002dance with new consolidation guidance.", + "An analysis of core net interest income, core average earning assets and core net interest yield on earning assets, all of which adjust for the impact of these two non-core items from reported net interest income on a FTE basis, is shown below.", + "We believe the use of this non-GAAP presentation provides additional clarity in assessing our results.", + "|(Dollars in millions)|2010|2009|\n| Net interest income-1|||\n|As reported-2|$52,693|$48,410|\n|Impact of market-based net interest income-3|-4,430|-6,117|\n|Core net interest income|48,263|42,293|\n|Impact of securitizations-4|n/a|10,524|\n| Core net interest income|48,263|52,817|\n| Average earning assets|||\n|As reported|1,897,573|1,830,193|\n|Impact of market-based earning assets-3|-504,360|-481,376|\n|Core average earning assets|1,393,213|1,348,817|\n|Impact of securitizations-5|n/a|83,640|\n| Core average earning assets|1,393,213|1,432,457|\n| Net interest yield contribution-1|||\n|As reported-2|2.78%|2.65%|\n|Impact of market-based activities-3|0.68|0.49|\n|Core net interest yield on earning assets|3.46|3.14|\n|Impact of securitizations|n/a|0.55|\n| Core net interest yield on earning assets|3.46%|3.69%|\n", + "(1) FTE basis (2) Balance and calculation include fees earned on overnight deposits placed with the Federal Reserve of $368 million and $379 million for 2010 and 2009.", + "(3) Represents the impact of market-based amounts included in GBAM.", + "(4) Represents the impact of securitizations utilizing actual bond costs which is different from the business segment view which utilizes funds transfer pricing methodologies.", + "(5) Represents average securitized loans less accrued interest receivable and certain securitized bonds retained.", + "n/a = not applicable Core net interest income decreased $4.6 billion to $48.3 billion for 2010 compared to 2009.", + "The decrease was driven by lower loan levels compared to managed loan levels in 2009, and lower yields for the discretionary and credit card portfolios.", + "These impacts were partially offset by lower rates on deposits.", + "Core average earning assets decreased $39.2 billion to $1.4 trillion for 2010 compared to 2009.", + "The decrease was primarily due to lower commercial loan levels and lower consumer loan levels compared to managed consumer loan levels in 2009.", + "The impact was partially offset by increased securities levels in 2010.", + "Core net interest yield decreased 23 bps to 3.46 percent for 2010 compared to 2009 due to the factors noted above.", + "The fair value of variable rate debt approximates the carrying value since interest rates are variable and, thus, approximate current market rates.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with Generally Accepted Accounting Principles in the United States, as 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.", + "Our free cash flow for the years ended December 31, 2005, 2004 and 2003 is calculated as follows (in millions):" + ], + "question_id": "simplong-test-46", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of 2019 Notes of 2013, and Granted of Number of shares ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "also subject to financial covenants which require the Company to limit its consolidated total leverage ratio and to maintain a consolidated interest coverage ratio.", + "The most restrictive covenant is the consolidated total leverage ratio which is limited to 3.5.", + "The Company was in compliance with its debt covenants throughout the years ended December 31, 2013 and 2012.", + "On June 6, 2013, the Company completed a public offering of $800 million aggregate principal amount of 2.050% senior unsecured notes due October 1, 2018.", + "The notes were issued at 99.791% of their principal amount.", + "Net proceeds of $793.5 million were used to pay off a portion of the outstanding revolver balance under the 2012 Facility.", + "The notes bear interest at a fixed rate of 2.050% per year, payable semi-annually in arrears on April 1 and October 1 of each year, beginning October 1, 2013.", + "Roper may redeem some or all of the notes at any time or from time to time, at 100% of their principal amount plus a make-whole premium based on a spread to U. S. Treasury securities as described in the indenture relating to the notes.", + "On November 21, 2012, Roper completed a public offering of $400 million aggregate principal amount of 1.850% senior unsecured notes due November 15, 2017 and $500 million aggregate principal amount of 3.125% senior unsecured notes due November 15, 2022.", + "The notes bear interest at a fixed rate of 1.850% and 3.125% per year, respectively, payable semi-annually in arrears on May 15 and November 15 of each year, beginning May 15, 2013.", + "Roper may redeem some or all of the notes at any time or from time to time, at 100% of their principal amount plus a make-whole premium based on a spread to U. S. Treasury securities as described in the indenture relating to the notes.", + "In September 2009, the Company completed a public offering of $500 million aggregate principal amount of 6.25% senior unsecured notes due September 2019.", + "The notes bear interest at a fixed rate of 6.25% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning March 1, 2010.", + "Roper may redeem some of all of these notes at any time or from time to time, at 100% of their principal amount, plus a make\u0002whole premium based on a spread to U. S. Treasury securities.", + "The Company\u2019s senior notes are unsecured senior obligations of the Company and rank equally in right of payment with all of Roper\u2019s existing and future unsecured and unsubordinated indebtedness.", + "The notes are effectively subordinated to any of its existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness.", + "The notes are not guaranteed by any of Roper\u2019s subsidiaries and are effectively subordinated to all existing and future indebtedness and other liabilities of Roper\u2019s subsidiaries.", + "On August 15, 2013, $500 million of senior notes due 2013 matured, and were repaid using revolver borrowings from the 2012 Facility.", + "Other debt includes $8 million of senior subordinated convertible notes due 2034.", + "Total debt at December 31 consisted of the following (in thousands):", + "||2013|2012|\n|$1.50 billion revolving credit facility|$250,000|$100,000|\n|2013 Notes*|-|505,087|\n|2017 Notes|400,000|400,000|\n|2018 Notes|800,000|-|\n|2019 Notes|500,000|500,000|\n|2022 Notes|500,000|500,000|\n|Senior Subordinated Convertible Notes|8,270|11,594|\n|Other|6,582|5,441|\n|Total debt|2,464,852|2,022,122|\n|Less current portion|11,016|519,015|\n|Long-term debt|$2,453,836|$1,503,107|\n", + "*Shown net of fair value swap adjustment of $5,087.", + "represents the period of time that options granted are expected to be outstanding.", + "The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant.", + "The weighted-average fair value of options granted in 2013, 2012 and 2011 were calculated using the following weighted-average assumptions:", + "||2013|2012|2011|\n|Weighted-average fair value ($)|37.08|30.25|24.45|\n|Risk-free interest rate (%)|0.86|0.77|1.91|\n|Average expected option life (years)|5.19|5.24|5.34|\n|Expected volatility (%)|36.09|36.51|35.27|\n|Expected dividend yield (%)|0.56|0.58|0.60|\n", + "The following table summarizes the Company\u2019s activities with respect to its stock option plans for the years ended December 31, 2013 and 2012:", + "||Number of shares|Weighted-average exercise price per share|Weighted-average contractual term|Aggregate intrinsic value|\n|Outstanding at January 1, 2012|3,822,662|$ 50.44|||\n|Granted|538,100|95.27|||\n|Exercised|-1,389,069|40.46|||\n|Canceled|-53,498|70.01|||\n|Outstanding at December 31, 2012|2,918,195|63.15|6.52|$ 141,029,378|\n|Granted|601,350|117.78|||\n|Exercised|-424,945|56.48|||\n|Canceled|-106,164|98.74|||\n|Outstanding at December 31, 2013|2,988,436|74.00|6.22|$ 193,279,214|\n|Exercisable at December 31, 2013|1,859,725|$ 56.99|4.84|$ 151,929,651|\n", + "The following table summarizes information for stock options outstanding at December 31, 2013:", + "||Outstanding options|Exercisable options|\n|Exercise price|Number|Averageexerciseprice|Average remaininglife (years)|Number|Averageexerciseprice|\n|$ 14.09 - 28.17|157,638|$ 23.70|0.2|157,638|$ 23.70|\n|28.17 - 42.26|126,574|41.81|5.2|126.574|41.81|\n|42.27 - 56.34|1,113,058|53.79|4.4|1,113,058|53.79|\n|56.35 - 70.43|96,800|67.88|7.5|45,300|66.71|\n|70.44 - 84.52|453,392|74.63|7.1|278,034|75.21|\n|84.53 - 98.60|419,924|94.00|8.1|130,085|93.91|\n|98.61 - 112.69|48,700|103.41|8.6|9,036|103.64|\n|112.70 - 126.77|547,350|117.03|9.2|-|-|\n|126.78 - 140.86|25,000|131.54|9.6|-|-|\n|$ 14.09 - 140.86|2,988,436|$ 74.00|6.2|1,859,725|$ 56.99|\n", + "At December 31, 2013, there was $23.7 million of total unrecognized compensation expense related to nonvested options granted under the Company\u2019s share-based payment plans.", + "That cost is expected to be recognized over a weighted-average period of 2.0 years.", + "The total intrinsic value of options exercised in 2013, 2012 and 2011 was $28.8 million, $86.0 million and $41.2 million, respectively.", + "Cash received from option exercises under all plans in 2013 and 2012 was $24.0 million and $56.1 million, respectively", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):" + ], + "question_id": "simplong-test-47", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Securities loaned in 2017 and Aggregate contractual principal in excess of fair value in 2015? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis The table below presents a reconciliation of our common shareholders\u2019 equity to the estimated Basel III Advanced CET1 on a fully phased-in basis.", + "|$ in millions|As of December 2013|\n|Common shareholders\u2019 equity|$ 71,267|\n|Goodwill|-3,705|\n|Identifiable intangible assets|-671|\n|Deferred tax liabilities|908|\n|Goodwill and identifiable intangible assets, net of deferred tax liabilities|-3,468|\n|Deductions for investments in nonconsolidated financial institutions1|-9,091|\n|Otheradjustments2|-489|\n|Basel III CET1|$ 58,219|\n|Basel III Advanced RWAs|$594,662|\n|Basel III Advanced CET1 Ratio|9.8%|\n", + "1.", + "This deduction, which represents the fully phased-in requirement, is the amount by which our investments in the capital of nonconsolidated financial institutions exceed certain prescribed thresholds.", + "During both the transitional period and thereafter, no deduction will be required if the applicable proportion of our investments in the capital of nonconsolidated financial institutions falls below the prescribed thresholds.2.", + "Principally includes credit valuation adjustments on derivative liabilities and debt valuation adjustments, as well as other required credit risk\u0002based deductions.", + "In addition, beginning with the first quarter of 2015, subject to transitional provisions, we will also be required to disclose ratios calculated under the Standardized approach.", + "Our estimated CET1 ratio under the Standardized approach (Standardized CET1 ratio) on a fully phased-in basis was approximately 60 basis points lower than our estimated Basel III Advanced CET1 ratio in the table above.", + "Both the Basel III Advanced CET1 ratio and the Standardized CET1 ratio are subject to transitional provisions.", + "Reflecting the transitional provisions that became effective January 1, 2014, our estimated Basel III Advanced CET1 ratio and our estimated Standardized CET1 ratio are approximately 150 basis points higher than the respective CET1 ratios on a fully phased-in basis as of December 2013.", + "Effective January 1, 2014, Group Inc. \u2019s capital and leverage ratios are calculated under, and subject to the minimums as defined in, the Revised Capital Framework.", + "The changes to the definition of capital and minimum ratios, subject to transitional provisions, were effective beginning January 1, 2014.", + "RWAs are based on Basel I Adjusted, as defined in Note 20 to the consolidated financial statements.", + "The firm will transition to Basel III beginning on April 1, 2014.", + "Including the impact of the changes to the definition of regulatory capital and reflecting the transitional provisions effective in 2014, our estimated CET1 ratio (CET1 to RWAs on a Basel I Adjusted basis) as of December 2013 would have been essentially unchanged as compared to our Tier 1 common ratio under Basel I.", + "Regulatory Leverage Ratios.", + "The Revised Capital Framework increased the minimum Tier 1 leverage ratio applicable to us from 3% to 4% effective January 1, 2014.", + "In addition, the Revised Capital Framework will introduce a new Tier 1 supplementary leverage ratio (supplementary leverage ratio) for Advanced approach banking organizations.", + "The supplementary leverage ratio compares Tier 1 capital (as defined under the Revised Capital Framework) to a measure of leverage exposure, defined as the sum of the firm\u2019s assets less certain CET1 deductions plus certain off-balance-sheet exposures, including a measure of derivatives exposures and commitments.", + "The Revised Capital Framework requires a minimum supplementary leverage ratio of 3%, effective January 1, 2018, but with disclosure required beginning in the first quarter of 2015.", + "In addition, subsequent to the approval of the Revised Capital Framework, the Agencies issued a proposal to increase the minimum supplementary leverage ratio requirement for the largest U. S. banks (those deemed to be global systemically important banking institutions (G-SIBs) under the Basel G-SIB framework).", + "These proposals would require the firm and other G-SIBs to meet a 5% supplementary leverage ratio (comprised of the minimum requirement of 3% plus a 2% buffer).", + "As of December 2013, our estimated supplementary leverage ratio based on the Revised Capital Framework approximates this proposed minimum.", + "In addition, the Basel Committee recently finalized revisions that would increase the size of the leverage exposure for purposes of the supplementary leverage ratio, but would retain a minimum supplementary leverage ratio requirement of 3%.", + "It is not known with certainty at this point whether the U. S. regulators will adopt this revised definition of leverage into their rules and proposals for the supplementary leverage ratio.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements Gains and Losses on Financial Assets and Financial Liabilities Accounted for at Fair Value Under the Fair Value Option The table below presents the gains and losses recognized in earnings as a result of the firm electing to apply the fair value option to certain financial assets and financial liabilities.", + "These gains and losses are included in \u201cMarket making\u201d and \u201cOther principal transactions.", + "\u201d The table below also includes gains and losses on the embedded derivative component of hybrid financial instruments included in unsecured short-term borrowings, unsecured long-term borrowings and deposits.", + "These gains and losses would have been recognized under other U. S. GAAP even if the firm had not elected to account for the entire hybrid financial instrument at fair value.", + "||Year Ended December|\n|$ in millions|2016|2015|2014|\n|Unsecured short-term borrowings|$-1,028|$ 346|$-1,180|\n|Unsecured long-term borrowings|584|771|-592|\n|Other liabilities and accrued expenses|-55|-684|-441|\n|Other|-630|-217|-366|\n| Total|$-1,129|$ 216|$-2,579|\n", + "In the table above: \u2030 Gains/(losses) exclude contractual interest, which is included in \u201cInterest income\u201d and \u201cInterest expense,\u201d for all instruments other than hybrid financial instruments.", + "See Note 23 for further information about interest income and interest expense.", + "\u2030 Unsecured short-term borrowings includes gains/(losses) on the embedded derivative component of hybrid financial instruments of $(1.05) billion for 2016, $339 million for 2015 and $(1.22) billion for 2014, respectively.", + "\u2030 Unsecured long-term borrowings includes gains/(losses) on the embedded derivative component of hybrid financial instruments of $737 million for 2016, $653 million for 2015 and $(697) million for 2014, respectively.", + "\u2030 Other liabilities and accrued expenses includes gains/ (losses) on certain subordinated liabilities of consolidated VIEs.", + "\u2030 Other primarily consists of gains/(losses) on receivables from customers and counterparties, deposits and other secured financings.", + "Excluding the gains and losses on the instruments accounted for under the fair value option described above, \u201cMarket making\u201d and \u201cOther principal transactions\u201d primarily represent gains and losses on \u201cFinancial instruments owned, at fair value\u201d and \u201cFinancial instruments sold, but not yet purchased, at fair value.", + "\u201d Loans and Lending Commitments The table below presents the difference between the aggregate fair value and the aggregate contractual principal amount for loans and long-term receivables for which the fair value option was elected.", + "In the table below, the aggregate contractual principal amount of loans on non\u0002accrual status and/or more than 90 days past due (which excludes loans carried at zero fair value and considered uncollectible) exceeds the related fair value primarily because the firm regularly purchases loans, such as distressed loans, at values significantly below the contractual principal amounts.", + "||As of December|\n|$ in millions| 2016|2015|\n| Performing loans and long-term receivables|||\n|Aggregate contractual principal in excess of fair value| $ 478|$1,330|\n| Loans on nonaccrual status and/or more than 90 days past due|\n|Aggregate contractual principal in excess of fair value| 8,101|9,600|\n|Aggregate fair value of loans on nonaccrual status and/or more than90 days past due| 2,138|2,391|\n", + "As of December 2016 and December 2015, the fair value of unfunded lending commitments for which the fair value option was elected was a liability of $80 million and $211 million, respectively, and the related total contractual amount of these lending commitments was $7.19 billion and $14.01 billion, respectively.", + "See Note 18 for further information about lending commitments.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis Funding Sources Our primary sources of funding are deposits, collateralized financings, unsecured short-term and long-term borrowings, and shareholders\u2019 equity.", + "We seek to maintain broad and diversified funding sources globally across products, programs, markets, currencies and creditors to avoid funding concentrations.", + "The table below presents information about our funding sources.", + "||As of December|\n|$ in millions| 2018|2017|\n|Deposits| $158,257| 25%|$138,604|23%|\n|Collateralized financings:|||||\n|Repurchase agreements| 78,723| 13%|84,718|14%|\n|Securities loaned| 11,808| 2%|14,793|2%|\n|Other secured financings| 21,433| 3%|24,788|4%|\n|Total collateralized financings| 111,964| 18%|124,299|20%|\n|Unsecured short-term borrowings| 40,502| 7%|46,922|8%|\n|Unsecured long-term borrowings| 224,149| 36%|217,687|36%|\n|Total shareholders\u2019 equity| 90,185| 14%|82,243|13%|\n| Total funding sources| $625,057| 100%|$609,755|100%|\n", + "Our funding is primarily raised in U. S. dollar, Euro, British pound and Japanese yen.", + "We generally distribute our funding products through our own sales force and third\u0002party distributors to a large, diverse creditor base in a variety of markets in the Americas, Europe and Asia.", + "We believe that our relationships with our creditors are critical to our liquidity.", + "Our creditors include banks, governments, securities lenders, corporations, pension funds, insurance companies, mutual funds and individuals.", + "We have imposed various internal guidelines to monitor creditor concentration across our funding programs.", + "Deposits.", + "Our deposits provide us with a diversified source of funding and reduce our reliance on wholesale funding.", + "A growing portion of our deposit base consists of consumer deposits.", + "Deposits are primarily used to finance lending activity, other inventory and a portion of our GCLA.", + "We raise deposits, including savings, demand and time deposits, through internal and third-party broker-dealers, and from consumers and institutional clients, and primarily through Goldman Sachs Bank USA (GS Bank USA) and Goldman Sachs International Bank (GSIB).", + "In September 2018, we launched Marcus: by Goldman Sachs in the U. K. to accept deposits.", + "See Note 14 to the consolidated financial statements for further information about our deposits.", + "Secured Funding.", + "We fund a significant amount of inventory on a secured basis.", + "Secured funding includes collateralized financings in the consolidated statements of financial condition.", + "We may also pledge our inventory as collateral for securities borrowed under a securities lending agreement.", + "We also use our own inventory to cover transactions in which we or our clients have sold securities that have not yet been purchased.", + "Secured funding is less sensitive to changes in our credit quality than unsecured funding, due to our posting of collateral to our lenders.", + "Nonetheless, we continually analyze the refinancing risk of our secured funding activities, taking into account trade tenors, maturity profiles, counterparty concentrations, collateral eligibility and counterparty roll over probabilities.", + "We seek to mitigate our refinancing risk by executing term trades with staggered maturities, diversifying counterparties, raising excess secured funding, and pre-funding residual risk through our GCLA.", + "We seek to raise secured funding with a term appropriate for the liquidity of the assets that are being financed, and we seek longer maturities for secured funding collateralized by asset classes that may be harder to fund on a secured basis, especially during times of market stress.", + "Our secured funding, excluding funding collateralized by liquid government and agency obligations, is primarily executed for tenors of one month or greater and is primarily executed through term repurchase agreements and securities loaned contracts.", + "The weighted average maturity of our secured funding included in collateralized financings in the consolidated statements of financial condition, excluding funding that can only be collateralized by liquid government and agency obligations, exceeded 120 days as of December 2018.", + "Assets that may be harder to fund on a secured basis during times of market stress include certain financial instruments in the following categories: mortgage and other asset\u0002backed loans and securities, non-investment-grade corporate debt securities, equity securities and emerging market securities.", + "Assets that are classified in level 3 of the fair value hierarchy are generally funded on an unsecured basis.", + "See Notes 5 and 6 to the consolidated financial statements for further information about the classification of financial instruments in the fair value hierarchy and \u201cUnsecured Long-Term Borrowings\u201d below for further information about the use of unsecured long-term borrowings as a source of funding.", + "We also raise financing through other types of collateralized financings, such as secured loans and notes.", + "GS Bank USA has access to funding from the Federal Home Loan Bank.", + "Our outstanding borrowings against the Federal Home Loan Bank were $528 million as of December 2018 and $3.40 billion as of December 2017." + ], + "question_id": "simplong-test-48", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of the Camarillo Oaks and Bonita Cedars in the sections where Anavia is greater than 312000?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables describe the Company\u2019s Portfolio as of December 31, 2011.", + "The first table describes the Company\u2019s communities and the second table describes the Company\u2019s other real estate assets.", + "(See Note 7 of the Company\u2019s consolidated financial statements for more information about the Company\u2019s secured mortgage debt and Schedule III for a list of secured mortgage loans related to the Company\u2019s Portfolio. )", + "|Communities-1|Location|Units|RentableSquareFootage|YearBuilt|YearAcquired|Occupancy-2|\n|Southern California|||||||\n|Alpine Country|Alpine, CA|108|81,900|1986|2002|95%|\n|Alpine Village|Alpine, CA|301|254,400|1971|2002|97%|\n|Anavia|Anaheim, CA|250|312,343|2009|2010|92%|\n|Barkley, The-3(4)|Anaheim, CA|161|139,800|1984|2000|97%|\n|Bonita Cedars|Bonita, CA|120|120,800|1983|2002|96%|\n|Camarillo Oaks|Camarillo, CA|564|459,000|1985|1996|96%|\n|Camino Ruiz Square|Camarillo, CA|160|105,448|1990|2006|98%|\n|Cielo -5|Chatsworth, CA|119|125,400|2009|2009|96%|\n|Cambridge|Chula Vista, CA|40|22,100|1965|2002|96%|\n|Mesa Village|Clairemont, CA|133|43,600|1963|2002|98%|\n|Parcwood-5|Corona, CA|312|270,000|1989|2004|95%|\n|Tierra del Sol/Norte|El Cajon, CA|156|117,000|1969|2002|97%|\n|Regency at Encino|Encino, CA|75|78,487|1989|2009|96%|\n|Valley Park-6|Fountain Valley, CA|160|169,700|1969|2001|97%|\n|Capri at Sunny Hills-6|Fullerton, CA|100|128,100|1961|2001|97%|\n|Wilshire Promenade|Fullerton, CA|149|128,000|1992|1997|97%|\n|Montejo-6|Garden Grove, CA|124|103,200|1974|2001|96%|\n|CBC Apartments|Goleta, CA|148|91,538|1962|2006|96%|\n|Chimney Sweep Apartments|Goleta, CA|91|88,370|1967|2006|83%|\n|416 on Broadway|Glendale, CA|115|126,782|2009|2010|93%|\n|Hampton Court|Glendale, CA|83|71,500|1974|1999|97%|\n|Hampton Place|Glendale, CA|132|141,500|1970|1999|97%|\n|Devonshire|Hemet, CA|276|207,200|1988|2002|94%|\n|Huntington Breakers|Huntington Beach, CA|342|241,700|1984|1997|96%|\n|Axis 2300|Irvine, CA|115|170,714|2010-7|2010|96%|\n|Hillsborough Park|La Habra, CA|235|215,500|1999|1999|97%|\n|Trabuco Villas|Lake Forest, CA|132|131,000|1985|1997|97%|\n|Marbrisa|Long Beach, CA|202|122,800|1987|2002|97%|\n|Pathways|Long Beach, CA|296|197,700|1975-8|1991|96%|\n|Belmont Station|Los Angeles, CA|275|225,000|2008|2008|97%|\n|Bellerive|Los Angeles, CA|63|79,296|2011|2011|99%|\n|Bunker Hill|Los Angeles, CA|456|346,600|1968|1998|96%|\n|Cochran Apartments|Los Angeles, CA|58|51,400|1989|1998|97%|\n|Kings Road|Los Angeles, CA|196|132,100|1979-9|1997|97%|\n|Marbella, The|Los Angeles, CA|60|50,108|1991|2005|97%|\n|Park Place|Los Angeles, CA|60|48,000|1988|1997|97%|\n|Renaissance, The-5|Los Angeles, CA|169|154,268|1990-10|2006|97%|\n|Santee Court|Los Angeles, CA|165|132,040|2004|2010|93%|\n|Santee Village|Los Angeles, CA|73|69,817|2011|2010|99%|\n|Windsor Court|Los Angeles, CA|58|46,600|1988|1997|97%|\n|Marina City Club-11|Marina Del Rey, CA|101|127,200|1971|2004|98%|\n|Mirabella|Marina Del Rey, CA|188|176,800|2000|2000|97%|\n|Mira Monte|Mira Mesa, CA|355|262,600|1982-12|2002|97%|\n|Hillcrest Park|Newbury Park, CA|608|521,900|1973|1998|96%|\n|Fairways-13|Newport Beach, CA|74|107,100|1972|1999|98%|\n|Muse|North Hollywood, CA|152|135,292|2011|2011|99%|\n|Country Villas|Oceanside, CA|180|179,700|1976|2002|96%|\n|Mission Hills|Oceanside, CA|282|244,000|1984|2005|96%|\n|Mariners Place|Oxnard, CA|105|77,200|1987|2000|97%|\n|Monterey Villas|Oxnard, CA|122|122,100|1974|1997|96%|\n|Tierra Vista|Oxnard, CA|404|387,100|2001|2001|97%|\n|Arbors Parc Rose-14|Oxnard, CA|373|503,196|2001|2011|94%|\n|Monterra del Mar|Pasadena, CA|123|74,400|1972|1997|96%|\n|Monterra del Rey|Pasadena, CA|84|73,100|1972|1999|97%|\n|Monterra del Sol|Pasadena, CA|85|69,200|1972|1999|97%|\n|Villa Angelina-6|Placentia, CA|256|217,600|1970|2001|97%|\n", + "As of December 31, 2011, the Company had ownership interests in 159 communities, comprising 32,753 apartment units, and the apartment communities are located in the following major West Coast regions: Southern California (Los Angeles, Orange, Riverside, Santa Barbara, San Diego, and Ventura counties) Northern California (the San Francisco Bay Area) Seattle Metro (Seattle metropolitan area) As of December 31, 2011, the Company also had ownership interests in five commercial buildings (with approximately 315,900 square feet).", + "As of December 31, 2011, the Company\u2019s development pipeline was comprised of five unconsolidated joint venture projects under development, one unconsolidated joint venture predevelopment project and three consolidated land parcels held for future development or sale aggregating 2,014 units, with total incurred costs of $227.1 million, and estimated remaining project costs of approximately $282.6 million for total estimated project costs of $422.6 million.", + "By region, the Company's operating results for 2010 and 2011 and projections for 2012 new housing supply, job growth, and rental income as follows: Southern California Region: As of December 31, 2011, this region represented 48% of the Company\u2019s consolidated apartment units.", + "During the year ended December 31, 2011, revenues for \u201c2011/2010 Same\u0002Properties\u201d (as defined below), or \u201cSame-Property revenues,\u201d increased 2.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply (excluding Santa Barbara and Riverside counties) of 5,400 multifamily and 5,100 single family homes, which represents a total new supply of 0.2% and 0.1% of existing stock, respectively.", + "The Company assumes an increase of 78,800 jobs or 1.2%, and an increase in rental income of 3.0% to 5.0% in 2012.", + "Northern California Region: As of December 31, 2011, this region represented 30% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 5.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 3,000 multifamily and 2,200 single family homes, which represents a total new supply of 0.3% and 0.2%, respectively, of existing stock.", + "The Company assumes an increase of 48,000 jobs or 1.7%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "Seattle Metro Region: As of December 31, 2011, this region represented 22% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 4.6% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 1,800 multifamily and 3,400 single family homes, which represents a total new supply of 0.5% of existing stock.", + "The Company assumes an increase of 25,000 jobs or 1.8%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "The Company expects 2012 same-property revenues to increase between 5% and 7% compared to 2011 results, as renewal leases and new leases are signed at higher rents than 2011 during 2012.", + "The Company expects same\u0002property financial occupancy to be consistent with 2011 at 96.4%, thus 2012 revenues will increase 5% to 7% due to a similar increase in scheduled rent.", + "Same-property operating expenses are expected to increase from 1.1% in 2011, to a range of 2% and 3% in 2012.", + "Finally, same-property net operating income (\u201cNOI\u201d) which is defined as same\u0002property revenues less same-property operating expenses is expected to increase from 5.5% for 2011 to a range of 7% to 9% in 2012.", + "The Company\u2019s consolidated communities are as follows:", + "||As of December 31, 2011|As of December 31, 2010|\n||Apartment Units|%|Apartment Units|%|\n|Southern California|13,205|48%|13,076|49%|\n|Northern California|8,106|30%|7,696|29%|\n|Seattle Metro|6,108|22%|5,980|22%|\n|Total|27,419|100%|26,752|100%|\n", + "Co-investments including Fund II and Wesco I communities, Essex Skyline at MacArthur Place, and preferred equity co-investment communities are not included in the table presented above for both years.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Liquidity and Capital Resources Snap-on\u2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing.", + "Snap-on believes that its cash from operations and collections of finance receivables, coupled with its sources of borrowings and available cash on hand, are sufficient to fund its currently anticipated requirements for scheduled debt payments (including the March 2014 repayment of $100.0 million of 5.85% unsecured notes upon maturity), payments of interest and dividends, new receivables originated by our financial services businesses, capital expenditures, working capital, restructuring activities, the funding of pension plans, and funding for additional share repurchases and acquisitions, if any.", + "Due to Snap-on\u2019s credit rating over the years, external funds have been available at an acceptable cost.", + "As of the close of business on February 7, 2014, Snap-on\u2019s long-term debt and commercial paper were rated, respectively, A3 and P-2 by Moody\u2019s Investors Service; A- and A-2 by Standard & Poor\u2019s; and A- and F2 by Fitch Ratings.", + "Snap-on believes that its current credit arrangements are sound and that the strength of its balance sheet affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions.", + "However, Snap-on cannot provide any assurances of the availability of future financing or the terms on which it might be available, or that its debt ratings may not decrease.", + "The following discussion focuses on information included in the accompanying Consolidated Balance Sheets.", + "As of 2013 year end, working capital (current assets less current liabilities) of $1,080.8 million increased $1.0 million from $1,079.8 million as of 2012 year end.", + "The following represents the company\u2019s working capital position as of 2013 and 2012 year end:", + "|(Amounts in millions)|2013|2012|\n|Cash and cash equivalents|$217.6|$214.5|\n|Trade and other accounts receivable \u2013 net|531.6|497.9|\n|Finance receivables \u2013 net|374.6|323.1|\n|Contract receivables \u2013 net|68.4|62.7|\n|Inventories \u2013 net|434.4|404.2|\n|Other current assets|169.6|166.6|\n|Total current assets|1,796.2|1,669.0|\n|Notes payable and current maturities of long-term debt|-113.1|-5.2|\n|Accounts payable|-155.6|-142.5|\n|Other current liabilities|-446.7|-441.5|\n|Total current liabilities|-715.4|-589.2|\n|Working capital|$1,080.8|$1,079.8|\n", + "Cash and cash equivalents of $217.6 million as of 2013 year end compared to cash and cash equivalents of $214.5 million at 2012 year end.", + "The $3.1 million net increase in cash and cash equivalents includes the impacts of (i) $508.8 million of cash from collections of finance receivables; (ii) $392.6 million of cash generated from operations, net of $24.3 million of discretionary cash contributions to the company\u2019s pension plans; (iii) $29.2 million of cash proceeds from stock purchase and option plan exercises; and (iv) $8.4 million of cash proceeds from the sale of property and equipment.", + "These increases in cash and cash equivalents were largely offset by (i) the funding of $651.3 million of new finance receivables; (ii) dividend payments to shareholders of $92.0 million; (iii) the repurchase of 926,000 shares of the company\u2019s common stock for $82.6 million; (iv) the funding of $70.6 million of capital expenditures; and (v) the May 2013 acquisition of Challenger for a cash purchase price of $38.2 million.", + "Of the $217.6 million of cash and cash equivalents as of 2013 year end, $124.3 million was held outside of the United States.", + "Snap-on considers these non-U.", + "S. funds as permanently invested in its foreign operations to (i) provide adequate working capital; (ii) satisfy various regulatory requirements; and/or (iii) take advantage of business expansion opportunities as they arise; as such, the company does not presently expect to repatriate these funds to fund its U. S. operations or obligations.", + "The repatriation of cash from certain foreign subsidiaries could have adverse net tax consequences on the company should Snap-on be required to pay and record U. S. income taxes and foreign withholding taxes on funds that were previously considered permanently invested.", + "Alternatively, the repatriation of such cash from certain other foreign subsidiaries could result in favorable net tax consequences for the company.", + "Snap-on periodically evaluates opportunities to repatriate certain foreign cash amounts to the extent that it does not incur additional unfavorable net tax consequences." + ], + "question_id": "simplong-test-49", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the proportion of all elements that are greater than 5000 to the total amount of elements in Total contractual obligations?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Industrial Participation Agreements We have entered into various industrial participation agreements with certain customers outside of the U. S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us.", + "These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance.", + "However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.", + "S. customers.", + "In certain cases, penalties could be imposed if we do not meet our industrial participation commitments.", + "During 2017, we incurred no such penalties.", + "As of December 31, 2017, we have outstanding industrial participation agreements totaling $17.9 billion that extend through 2030.", + "Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above.", + "To be eligible for such a purchase order commitment from us, a non-U.", + "S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule.", + "Commercial Commitments The following table summarizes our commercial commitments outstanding as of December 31, 2017.", + "|(Dollars in millions)|Total AmountsCommitted/MaximumAmount of Loss|Less than1 year|1-3years|4-5years|After 5years|\n|Standby letters of credit and surety bonds|$3,708|$1,659|$782|$559|$708|\n|Commercial aircraft financing commitments|10,221|2,047|4,372|2,256|1,546|\n|Total commercial commitments|$13,929|$3,706|$5,154|$2,815|$2,254|\n", + "Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates.", + "Based on historical experience, we anticipate that we will not be required to fund a significant portion of our financing commitments.", + "However, there can be no assurances that we will not be required to fund greater amounts than historically required, particularly if the Export-Import Bank of the United States continues to be unable to, or does not, provide new financing support.", + "See Note 11 to our Consolidated Financial Statements.", + "Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us.", + "Legal contingencies are discussed in Note 20 to our Consolidated Financial Statements.", + "Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $524 million at December 31, 2017.", + "For additional information, see Note 11 to our Consolidated Financial Statements.", + "Off-Balance Sheet Arrangements We are a party to certain off-balance sheet arrangements including certain guarantees.", + "For discussion of these arrangements, see Note 12 to our Consolidated Financial Statements.", + "COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*", + "|Measurement PointDecember 31|The Priceline Group Inc.|NASDAQComposite Index|S&P 500Index|RDG InternetComposite|\n|2010|100.00|100.00|100.00|100.00|\n|2011|117.06|100.53|102.11|102.11|\n|2012|155.27|116.92|118.45|122.23|\n|2013|290.93|166.19|156.82|199.42|\n|2014|285.37|188.78|178.29|195.42|\n|2015|319.10|199.95|180.75|267.25|\n", + "Contractual Obligations: Presented in the following table are CMS Energy\u2019s and Consumers\u2019 contractual obligations for each of the periods presented.", + "The table excludes all amounts classified as current liabilities on CMS Energy\u2019s and Consumers\u2019 consolidated balance sheets, other than the current portion of long-term debt, capital leases, and financing obligation", + "||||||In Millions||\n||Payments Due||\n|||Less Than|One to|Three to|More Than||\n|December 31, 2013|Total|One Year|Three Years|Five Years|Five Years||\n| CMS Energy, including Consumers|||||||\n|Long-term debt|$7,654|$368|$1,207|$1,443|$4,636||\n|Interest payments on long-term debt|3,335|364|694|573|1,704||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,215|11|37|36|1,131||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|198|14|34|36|114||\n|Purchase obligations1|12,068|1,879|2,015|2,007|6,167||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$26,141|$2,787|$4,268|$4,365|$14,721||\n| Consumers|||||||\n|Long-term debt|$4,625|$43|$449|$848|$3,285||\n|Interest payments on long-term debt|2,259|225|441|370|1,223||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,214|11|37|36|1,130||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|127|8|24|28|67||\n|Purchase obligations1|11,838|1,803|1,960|1,953|6,122||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$21,734|$2,241|$3,192|$3,505|$12,796||\n", + "1 Long-term contracts for purchase of commodities and related services, and construction and service agreements.", + "The commodities and related services include natural gas and associated transportation, electricity, and coal and associated transportation.2 Long-term power purchase agreements from certain affiliates of CMS Enterprises.", + "CMS Energy and Consumers also have recognized non-current liabilities for which the timing of payments cannot be reasonably estimated.", + "These items, which are excluded from the table above, include regulatory liabilities, deferred income taxes, workers compensation liabilities, accrued liabilities under renewable energy programs, and other liabilities.", + "Retirement benefits are also excluded from the table above.", + "For details related to benefit payments, see Note 11, Retirement Benefits.", + "Off-Balance-Sheet Arrangements: CMS Energy, Consumers, and certain of their subsidiaries also enter into various arrangements in the normal course of business to facilitate commercial transactions with third parties.", + "These arrangements include indemnities, surety bonds, letters of credit, and financial and performance guarantees.", + "Indemnities are usually agreements to reimburse a counterparty that may incur losses due to outside claims or breach of contract terms.", + "The maximum payment that could be required under a number of these indemnity obligations is not estimable; the maximum obligation under", + "In December 2006 the Tax Relief and Health Care Act of 2006 was signed into law.", + "The Act included a reinstatement of the federal research and experimental credit through December 31, 2007 that was retroactive to January 1, 2006.", + "We recorded a discrete tax benefit of approximately $3.7 million for the retroactive amount related to fiscal 2006 during the twelve months ended July 31, 2007.", + "Significant deferred tax assets and liabilities were as follows at the dates indicated:", + "||July 31,|\n|(In thousands)| 2008|2007|\n|Deferred tax assets:|||\n|Accruals and reserves not currently deductible|$28,178|$34,095|\n|Deferred rent|13,859|21,363|\n|Accrued and deferred compensation|33,954|30,397|\n|Loss and tax credit carryforwards|38,782|19,448|\n|Property and equipment|12,130|30,385|\n|Share-based compensation|77,336|46,021|\n|Other, net|21,002|22,740|\n|Total deferred tax assets|225,241|204,449|\n|Deferred tax liabilities:|||\n|Intangible assets|65,925|41,152|\n|Other, net|5,095|4,022|\n|Total deferred tax liabilities|71,020|45,174|\n|Total net deferred tax assets|154,221|159,275|\n|Valuation allowance|\u2014|-2,527|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We had provided a valuation allowance related to the benefits of certain state capital loss carryforwards and state net operating losses that we believed were unlikely to be realized.", + "The valuation allowance decreased by $2.5 million during the twelve months ended July 31, 2008 as a result of the elimination of the deferred tax asset in connection with the sale of certain outsourced payroll assets.", + "See Note 7.", + "The valuation allowance decreased by $1.9 million during the twelve months ended July 31, 2007 due to utilization of $1.0 million and expired losses of $0.9 million.", + "The components of total net deferred tax assets, net of valuation allowance, as shown on our balance sheet were as follows at the dates indicated:", + "|| July 31,|\n|(In thousands)| 2008| 2007|\n|Current deferred income taxes|$101,730|$84,682|\n|Long-term deferred income taxes|52,491|72,066|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We acquired Electronic Clearing House, Inc. and Homestead Technologies Inc. in fiscal 2008 and Digital Insight in fiscal 2007.", + "See Note 6.", + "These companies had federal net operating loss carryforwards at their respective dates of acquisition that totaled approximately $164 million.", + "The tax effects of these federal net operating loss carryforwards and other federal tax credit carryforwards totaled approximately $66 million.", + "We recorded the tax effects of these carryforwards as deferred tax assets at the respective dates of acquisition.", + "These carryforwards do not result in an income tax provision benefit, but they reduce income taxes payable and cash paid for income taxes as we utilize them.", + "At July 31, 2008, we had total federal net operating loss carryforwards of approximately $95.0 million that will expire starting in fiscal 2019.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization.", + "At July 31, 2008, we had various state net operating loss and tax credit carryforwards for which we have recorded a deferred tax asset of $4.3 million.", + "The state net operating losses will expire starting in fiscal 2013.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization." + ], + "question_id": "simplong-test-50", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average growth rate of Other cost of management of Cost of operations between 2008 and 2009 for Year Ended December 31,?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Strategy Our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers.", + "Our strategy to achieve this has been and will continue to be built on the following pillars: ?", + "Expand Client Relationships \u2014 The overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships.", + "As the market dynamics shift, we expect our clients to rely more on our multidimensional service offerings.", + "Our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes, improved service quality and speed for our clients' customers. ?", + "Buy, Build or Partner to Add Solutions to Cross-Sell \u2014 We continue to invest in growth through internal product development, as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell.", + "We also partner from time to time with other entities to provide comprehensive offerings to our customers.", + "By investing in solution innovation and integration, we continue to expand our value proposition to clients. ?", + "Support Our Clients Through Market Transformation \u2014 The changing market dynamics are transforming the way our clients operate, which is driving incremental demand for our leveraged solutions, consulting expertise, and services around intellectual property.", + "Our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes. ?", + "Continually Improve to Drive Margin Expansion \u2014 We strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion. ?", + "Build Global Diversification \u2014 We continue to deploy resources in emerging global markets where we expect to achieve meaningful scale.", + "Revenues by Segment The table below summarizes the revenues by our reporting segments (in millions):", + "||2012|2011|2010|\n|FSG|$2,246.4|$2,076.8|$1,890.8|\n|PSG|2,380.6|2,372.1|2,354.2|\n|ISG|1,180.5|1,177.6|917.0|\n|Corporate & Other|0.1|-0.9|-16.4|\n|Total Consolidated Revenues|$5,807.6|$5,625.6|$5,145.6|\n", + "Financial Solutions Group The focus of FSG is to provide the most comprehensive software and services for the core processing, customer channel, treasury services, cash management, wealth management and capital market operations of our financial institution customers in North America.", + "We service the core and related ancillary processing needs of North American banks, credit unions, automotive financial companies, commercial lenders, and independent community and savings institutions.", + "FIS offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes.", + "FSG customers are typically committed under multi-year contracts that provide a stable, recurring revenue base and opportunities for cross-selling additional financial and payments offerings.", + "We employ several business models to provide our solutions to our customers.", + "We typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements, such as an application service provider, facilities management processing or an application management arrangement.", + "We are also able to deliver individual applications through a software licensing arrangement.", + "Based upon our expertise gained through the foregoing arrangements, some clients also retain us to manage their IT operations without using any of our proprietary software.", + "Our solutions in this segment include:", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) 5.", + "Fair Value Considerable judgment is often required in interpreting market data to develop estimates of fair value, and the use of different assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.", + "Assets and Liabilities Measured at Fair Value Recurring Fair Value Measurements The assets and liabilities measured at estimated fair value on a recurring basis, including those items for which the Company has elected the FVO, were determined as described below.", + "These estimated fair values and their corresponding placement in the fair value hierarchy are summarized as", + "|| December 31, 2011|\n|| Fair Value Measurements at Reporting Date Using||\n|| Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)| Significant Other Observable Inputs (Level 2)| Significant Unobservable Inputs (Level 3)| Total Estimated Fair Value|\n|| (In millions)|\n| Assets|||||\n|Fixed maturity securities:|||||\n|U.S. corporate securities|$\u2014|$99,001|$6,784|$105,785|\n|Foreign corporate securities|\u2014|59,648|4,370|64,018|\n|Foreign government securities|76|50,138|2,322|52,536|\n|RMBS|\u2014|41,035|1,602|42,637|\n|U.S. Treasury and agency securities|19,911|20,070|31|40,012|\n|CMBS|\u2014|18,316|753|19,069|\n|State and political subdivision securities|\u2014|13,182|53|13,235|\n|ABS|\u2014|11,129|1,850|12,979|\n|Other fixed maturity securities|\u2014|\u2014|\u2014|\u2014|\n|Total fixed maturity securities|19,987|312,519|17,765|350,271|\n|Equity securities:|||||\n|Common stock|819|1,105|281|2,205|\n|Non-redeemable preferred stock|\u2014|380|438|818|\n|Total equity securities|819|1,485|719|3,023|\n|Trading and other securities:|||||\n|Actively Traded Securities|\u2014|473|\u2014|473|\n|FVO general account securities|\u2014|244|23|267|\n|FVO contractholder-directed unit-linked investments|7,572|8,453|1,386|17,411|\n|FVO securities held by CSEs|\u2014|117|\u2014|117|\n|Total trading and other securities|7,572|9,287|1,409|18,268|\n|Short-term investments -1|8,150|8,120|590|16,860|\n|Mortgage loans:|||||\n|Commercial mortgage loans held by CSEs|\u2014|3,138|\u2014|3,138|\n|Mortgage loans held-for-sale: -2|||||\n|Residential mortgage loans|\u2014|2,836|228|3,064|\n|Securitized reverse residential mortgage loans|\u2014|6,466|1,186|7,652|\n|Total mortgage loans held-for-sale|\u2014|9,302|1,414|10,716|\n|Total mortgage loans|\u2014|12,440|1,414|13,854|\n|Other invested assets:|||||\n|MSRs|\u2014|\u2014|666|666|\n|Other investments|312|124|\u2014|436|\n|Derivative assets: -3|||||\n|Interest rate contracts|32|10,426|338|10,796|\n|Foreign currency contracts|1|1,316|61|1,378|\n|Credit contracts|\u2014|301|29|330|\n|Equity market contracts|29|2,703|964|3,696|\n|Total derivative assets|62|14,746|1,392|16,200|\n|Total other invested assets|374|14,870|2,058|17,302|\n|Net embedded derivatives within asset host contracts -4|\u2014|1|362|363|\n|Separate account assets -5|28,191|173,507|1,325|203,023|\n|Total assets|$65,093|$532,229|$25,642|$622,964|\n", + "a yield curve used to measure the benefit obligation.", + "The new method utilized a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to their underlying projected cash flows.", + "The Company changed to the new method to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows and their corresponding spot rates.", + "The change is accounted for as a change in accounting estimate which is applied prospectively.", + "This change in estimate is not expected to have a material impact on the Company\u2019s pension and postretirement net periodic benefit expense in future periods.", + "Although the discount rate used for each plan will be established and applied individually, a weighted average discount rate of 3.0% will be used in calculating the fiscal 2018 net periodic benefit costs (income).", + "The discount rate reflects the market rate for high-quality fixed-income investments on the Company\u2019s annual measurement date of June 30 and is subject to change each fiscal year.", + "The discount rate assumptions used to account for pension and other postretirement benefit plans reflect the rates at which the benefit obligations could be effectively settled.", + "The rate was determined by matching the Company\u2019s expected benefit payments for the plans to a hypothetical yield curve developed using a portfolio of several hundred high-quality non-callable corporate bonds.", + "The weighted average discount rate is volatile from year to year because it is determined based upon the prevailing rates in the U. S. , the U. K. , Australia and other foreign countries as of the measurement date.", + "The key assumptions used in developing the Company\u2019s fiscal 2017, 2016 and 2015 net periodic benefit costs (income) for its plans consist of the following:", + "||2017|2016| 2015|\n|| (in millions, except %)|\n|Weighted average assumptions used to determine net periodic benefit costs (income)||||\n|Discount rate for PBO|3.1%|3.9%|4.2%|\n|Discount rate for Service Cost|3.1%|3.9%|4.2%|\n|Discount rate for Interest on PBO|2.6%|3.9%|4.2%|\n|Discount rate for Interest on Service Cost|2.9%|3.9%|4.2%|\n|Assets:||||\n|Expected rate of return|5.7%|5.7%|6.3%|\n|Expected return|$75|$81|$93|\n|Actual return|$106|$121|$96|\n|Gain/(Loss)|$31|$40|$3|\n|One year actual return|8.2%|9.4%|7.2%|\n|Five year actual return|8.8%|7.7%|8.6%|\n", + "The Company will use a weighted average long-term rate of return of 5.1% for fiscal 2018 based principally on a combination of current asset mix and an expectation of future long term investment returns.", + "The accumulated net pre-tax losses on the Company\u2019s pension plans as of June 30, 2017 were approximately $595 million which decreased from approximately $610 million for the Company\u2019s pension plans as of June 30, 2016.", + "This decrease of $15 million was primarily due to favorable asset returns.", + "Lower discount rates increase present values of benefit obligations and increase the Company\u2019s deferred losses and also increase subsequent-year benefit costs.", + "Higher discount rates decrease the present values of benefit obligations and reduce the Company\u2019s accumulated net loss and also decrease subsequent-year benefit costs.", + "These deferred losses are being systematically recognized in future net periodic benefit costs (income) in accordance with ASC 715, \u201cCompensation\u2014 Retirement Benefits.", + "\u201d Unrecognized losses for the primary plans in excess of 10% of the greater of the market\u0002related value of plan assets or the plan\u2019s projected benefit obligation are recognized over the average life expectancy for plan participants for the primary plans.", + "The Company made contributions of $26 million, $26 million and $9 million to its funded pension plans in fiscal 2017, 2016 and 2015, respectively.", + "Future plan contributions are dependent upon actual plan asset returns, statutory requirements and interest rate movements.", + "Assuming that actual plan returns are consistent with the", + "On April 25, 2013 Delphi granted 37,674 RSUs to the Board of Directors at a grant date fair value of approximately $2 million.", + "The grant date fair value was determined based on the closing price of the Company's ordinary shares on April 25, 2013.", + "The RSUs vested on April 2, 2014, the day before the 2014 annual meeting of shareholders.", + "On April 3, 2014, Delphi granted 24,144 RSUs to the Board of Directors at a grant date fair value of approximately $2 million.", + "The grant date fair value was determined based on the closing price of the Company's ordinary shares on April 3, 2014.", + "The RSUs will vest on April 22, 2015, the day before the 2015 annual meeting of shareholders.", + "In February 2012, Delphi granted approximately 1.88 million RSUs to its executives.", + "These awards include a time-based vesting portion and a performance-based vesting portion.", + "The time-based RSUs, which make up 25% of the awards for Delphi\u2019s officers and 50% for Delphi\u2019s other executives, will vest ratably over three years beginning on the first anniversary of the grant date.", + "The performance-based RSUs, which make up 75% of the awards for Delphi\u2019s officers and 50% for Delphi\u2019s other executives, vested at the completion of a three-year performance period at the end of 2014.", + "In February 2013, under the time-based vesting terms of the 2012 grant, 218,070 ordinary shares were issued to Delphi executives at a fair value of $9 million, of which 78,692 ordinary shares were withheld to cover withholding taxes.", + "In February 2013, Delphi granted approximately 1.45 million RSUs to its executives.", + "These awards include time and performance-based components and vesting terms similar to the 2012 awards described above, as well as continuity awards.", + "The time-based RSUs will vest ratably over three years beginning on the first anniversary of the grant date and the performance-based RSUs will vest at the completion of a three-year performance period at the end of 2015 if certain targets are met.", + "In February 2014, under the time-based vesting terms of the 2012 and 2013 grants, 365,930 ordinary shares were issued to Delphi executives at a fair value of $23 million, of which 131,913 ordinary shares were withheld to cover minimum withholding taxes.", + "In February 2014, Delphi granted approximately 0.8 million RSUs to its executives.", + "These awards include time and performance-based components and vesting terms similar to the 2013 awards described above.", + "The time-based RSUs will vest ratably over three years beginning on the first anniversary of the grant date and the performance-based RSUs will vest at the completion of a three-year performance period at the end of 2016 if certain targets are met.", + "Any new executives hired after the annual executive RSU grant date may be eligible to participate in the PLC LTIP.", + "Any off cycle grants made for new hires will be valued at their grant date fair value based on the closing price of the Company's ordinary shares on the date of such grant.", + "Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company\u2019s performance against established company-wide performance metrics, which are:", + "|Metric|2014 Grant|2013 Grant|2012 Grant|\n|Average return on net assets -1|50%|50%|50%|\n|Cumulative net income|N/A|N/A|30%|\n|Cumulative earnings per share -2|30%|30%|N/A|\n|Relative total shareholder return -3|20%|20%|20%|\n", + "(1) Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period.", + "(2) Cumulative earnings per share is measured by net income attributable to Delphi divided by the weighted average number of diluted shares outstanding for the respective three-year performance period.", + "(3) Relative total shareholder return is measured by comparing the average closing price per share of the Company\u2019s ordinary shares for all available trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company\u2019s ordinary shares for all available trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies.", + "The grant date fair value of the RSUs was determined based on the closing price of the Company\u2019s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards.", + "Based on the target number of awards issued for the February 2014, 2013 and 2012 grants, the fair value at grant date was estimated to be approximately $53 million, $60 million and $59 million, respectively.", + "Each pension plan is overseen by a local committee or board that is responsible for the overall administration and investment of the pension plans.", + "In determining investment policies, strategies and goals, each committee or board considers factors including, local pension rules and regulations; local tax regulations; availability of investment vehicles (separate accounts, commingled accounts, insurance funds, etc.", + "); funded status of the plans; ratio of actives to retirees; duration of liabilities; and other relevant factors including: diversification, liquidity of local markets and liquidity of base currency.", + "A majority of the Company\u2019s pension funds are open to new entrants and are expected to be on-going plans.", + "Permitted investments are primarily liquid and/or listed, with little reliance on illiquid and non-traditional investments such as hedge funds.", + "The Company\u2019s retirement plan asset allocation at the end of 2018 and 2017 and target allocations for 2019 are as follows:", + "||Percent ofPlan Assets|TargetAllocation 2019|\n||2018|2017|\n|Worldwide Retirement Plans||||\n|Equity securities|71%|76%|70%|\n|Debt securities|29|24|30|\n|Total plan assets|100%|100%|100%|\n", + "Determination of Fair Value of Plan Assets The Plan has an established and well-documented process for determining fair values.", + "Fair value is based upon quoted market prices, where available.", + "If listed prices or quotes are not available, fair value is based upon models that primarily use, as inputs, market-based or independently sourced market parameters, including yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates and credit curves.", + "While the Plan believes its 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 estimate of fair value at the reporting date.", + "Valuation Hierarchy The authoritative literature establishes a three-level hierarchy to prioritize the inputs used in measuring fair value.", + "The levels within the hierarchy are described in the table below with Level 1 having the highest priority and Level 3 having the lowest.", + "A financial instrument\u2019s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.", + "Following is a description of the valuation methodologies used for the investments measured at fair value. ?", + "Short-term investment funds \u2014 Cash and quoted short-term instruments are valued at the closing price or the amount held on deposit by the custodian bank.", + "Other investments are through investment vehicles valued using the Net Asset Value (NAV) provided by the administrator of the fund.", + "The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.", + "The NAV is a quoted price in a market that is not active and classified as Level 2. ?", + "Government and agency securities \u2014 A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded.", + "Where quoted prices are available in an active market, the investments are classified within Level 1 of the valuation hierarchy.", + "If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows.", + "When quoted market prices for a security are not available in an active market, they are classified as Level 2. ?", + "Debt instruments \u2014 A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded.", + "Where quoted prices are available in an active market, the investments are classified as Level 1.", + "If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and are classified as Level 2.", + "Level 3 debt instruments are priced based on unobservable inputs. ?", + "Equity securities \u2014 Equity securities are valued at the closing price reported on the major market on which the individual securities are traded.", + "Substantially all common stock is classified within Level 1 of the valuation hierarchy. ?", + "Commingled funds \u2014 These investment vehicles are valued using the NAV provided by the fund administrator.", + "The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.", + "Assets in the Level 2 category have a quoted market price.", + "PUBLIC STORAGE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2009 F-26 of our common shares.", + "Through December 31, 2009, we have repurchased a total of 23,721,916 of our common shares pursuant to this authorization.", + "At December 31, 2009 and 2008, we had 4,244,022 and 3,027,544 of common shares reserved in connection with our share-based incentive plans, respectively, (see Note 10) and 231,978 shares reserved for the conversion of Convertible Partnership Units, respectively.", + "Equity Shares, Series AAA In November 1999, we sold $100,000,000 (4,289,544 shares) of Equity Shares, Series AAA (\u201cEquity Shares AAA\u201d) to a newly formed joint venture.", + "The Equity Shares AAA ranks on a parity with common shares and junior to the Senior Preferred Shares with respect to general preference rights, and has a liquidation amount equal to 120% of the amount distributed to each common share.", + "Annual distributions per share are equal to the lesser of (i) five times the amount paid per common share or (ii) $2.1564.", + "We have no obligation to pay distributions if no distributions are paid to common shareholders.", + "During the years ended December 31, 2009, 2008 and 2007, we paid quarterly distributions to the holder of the Equity Shares, Series AAA of $0.5391 per share for each of the quarters ended March 31, June 30, September 30 and December 31.", + "For all periods presented, the Equity Shares, Series AAA and related dividends are eliminated in consolidation as the shares are held by a Subsidiary.", + "Dividends The unaudited characterization of dividends for Federal income tax purposes is made based upon earnings and profits of the Company, as defined by the Internal Revenue Code.", + "Common share dividends including amounts paid to our restricted share unitholders totaled $371.7 million ($2.20 per share), $472.8 million ($2.80 per share) and $340.0 million ($2.00 per share), for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Equity Shares, Series A dividends totaled $20.5 million ($2.45 per share), $21.2 million ($2.45 per share) and $21.4 million ($2.45 per share), for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Preferred share dividends pay fixed rates from 6.125% to 7.500% with a total liquidation amount of $3,399,777,000 at December 31, 2009 ($3,424,327,000 at December 31, 2008) and dividends aggregating $232.4 million, $239.7 million and $236.8 million for the years ended December 31, 2009, 2008 and 2007, respectively.", + "For the tax year ended December 31, 2009, distributions for the common shares, Equity Shares, Series A, and all the various series of preferred shares were classified as follows:", + "||2009 (unaudited)|\n||1 st Quarter|2 nd Quarter|3 rd Quarter|4thQuarter|\n|Ordinary Income|100.00%|100.00%|98.57%|100.00%|\n|Long-Term Capital Gain|0.00%|0.00%|1.43%|0.00%|\n|Total|100.00%|100.00%|100.00%|100.00%|\n", + "9.", + "Related Party Transactions Mr. Hughes, Public Storage\u2019s Chairman of the Board of Trustees, and his family (collectively the \u201cHughes Family\u201d) have ownership interests in, and operate approximately 52 self-storage facilities in Canada using the \u201cPublic Storage\u201d brand name (\u201cPS Canada\u201d) pursuant to a royalty-free trademark license agreement with Public Storage.", + "We currently do not own any interests in these facilities nor do we own any facilities in Canada.", + "The Hughes Family owns approximately 17.3% of our common shares outstanding at December 31, 2009.", + "We have a right of first refusal to acquire the stock or assets of the corporation that manages the 52 self-storage facilities in Canada, if the Hughes Family or the corporation agrees to sell them.", + "However, we have no interest in the operations of this corporation, we have no right to acquire this stock or assets unless the Hughes Family decides to sell and we receive no benefit from the profits and increases in value of the Canadian self-storage facilities.", + "Same Store Facilities The \u201cSame Store Facilities\u201d represents those 1,899 facilities that we have owned, and have been operated on a stabilized basis, since January 1, 2007 and therefore provide meaningful comparisons for 2007, 2008, and 2009.", + "The following table summarizes the historical operating results of these 1,899 facilities (117.5 million net rentable square feet) that represent approximately 93% of the aggregate net rentable square feet of our U. S. consolidated self\u0002storage portfolio at December 31, 2009.", + "|SAME STORE FACILITIES|Year Ended December 31,|Year Ended December 31,|\n||2009|2008|Percentage Change|2008|2007|Percentage Change|\n|Revenues:|(Dollar amounts in thousands, except weighted average amounts)|\n|Rental income|$1,324,747|$1,375,484|-3.7%|$1,375,484|$1,339,637|2.7%|\n|Late charges and admin fees collected|64,768|60,146|7.7%|60,146|57,121|5.3%|\n|Total revenues (a)|1,389,515|1,435,630|-3.2%|1,435,630|1,396,758|2.8%|\n|Cost of operations:|||||||\n|Property taxes|139,776|135,825|2.9%|135,825|132,411|2.6%|\n|Direct property payroll|94,262|94,303|0.0%|94,303|93,152|1.2%|\n|Media advertising|19,795|19,853|-0.3%|19,853|20,917|-5.1%|\n|Other advertising and promotion|20,079|18,235|10.1%|18,235|18,778|-2.9%|\n|Utilities|34,636|36,411|-4.9%|36,411|35,094|3.8%|\n|Repairs and maintenance|38,356|42,696|-10.2%|42,696|43,332|-1.5%|\n|Telephone reservation center|11,040|12,580|-12.2%|12,580|12,642|-0.5%|\n|Property insurance|9,761|11,391|-14.3%|11,391|13,498|-15.6%|\n|Other cost of management|86,908|91,502|-5.0%|91,502|89,744|2.0%|\n|Total cost of operations (a)|454,613|462,796|-1.8%|462,796|459,568|0.7%|\n|Net operating income (b)|934,902|972,834|-3.9%|972,834|937,190|3.8%|\n|Depreciation and amortization expense (c)|-301,647|-344,905|-12.5%|-344,905|-447,245|-22.9%|\n|Net income|$633,255|$627,929|0.8%|$627,929|$489,945|28.2%|\n|Gross margin (before depreciation and amortization expense)|67.3%|67.8%|-0.7%|67.8%|67.1%|1.0%|\n|Weighted average for the period:|||||||\n|Square foot occupancy (d)|88.7%|89.5%|-0.9%|89.5%|89.3%|0.2%|\n|Realized annual rent per occupied square foot (e)(f)|$12.71|$13.08|-2.8%|$13.08|$12.77|2.4%|\n|REVPAF (f)(g)|$11.28|$11.71|-3.7%|$11.71|$11.40|2.7%|\n|Weighted average at December 31:|||||||\n|Square foot occupancy|87.1%|87.1%|-|87.1%|87.9%|-0.9%|\n|In place annual rent per occupied square foot (h)|$13.46|$14.02|-4.0%|$14.02|$13.89|0.9%|\n|Total net rentable square feet (in thousands)|117,462|117,462|-|117,462|117,462|-|\n|Number of facilities|1,899|1,899|-|1,899|1,899|-|\n", + "(a) Revenues and cost of operations do not include ancillary revenues and expenses generated at the facilities with respect to tenant reinsurance, retail sales and truck rentals.", + "\u201cOther costs of management\u201d included in cost of operations principally represents all the indirect costs incurred in the operations of the facilities.", + "Indirect costs principally include supervisory costs and corporate overhead cost incurred to support the operating activities of the facilities.", + "(b) See \u201cNet Operating Income\u201d above.", + "(c) Depreciation and amortization expense for the years ended December 31, 2009 and 2008 decreased, as compared to the year prior, primarily due to a reduction in amortization expense related to intangible assets that we obtained in the Shurgard Merger.", + "(d) Square foot occupancies represent weighted average occupancy levels over the entire period.", + "(e) Realized annual rent per occupied square foot is computed by annualizing the result of dividing rental income (which excludes late charges and administrative fees) by the weighted average occupied square feet for the period.", + "Realized" + ], + "question_id": "simplong-test-51", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "by what percentage did adjustments to valuation allowances increase from 2011 to 2012>", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Marathon maintains an equity compensation program for its non-employee directors under the Plan.", + "Pursuant to the program, non-employee directors must defer 50% of their annual retainers in the form of common stock units.", + "In addition, the program provides each non-employee director with a matching grant of up to 1,000 shares of common stock upon his or her initial election to the board if he or she purchases an equivalent number of shares within 60 days of joining the board.", + "Common stock units are book entry units equal in value to a share of stock.", + "During 2003, 15,799 shares of stock were issued; during 2002, 14,472 shares of stock were issued and during 2001, 12,358 shares of stock were issued.26.", + "Stockholder Rights Plan In 2002, the Marathon\u2019s stockholder rights plan (the Rights Plan), was amended due to the Separation.", + "In January 2003, the expiration date of the Rights Plan was accelerated to January 31, 2003.27.", + "Leases Marathon leases a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.", + "Most long-term leases include renewal options and, in certain leases, purchase options.", + "Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having remaining noncancelable lease terms in excess of one year are as follows:", + "| (In millions) | Capital Lease Obligations |Operating Lease Obligations|\n|2004|$29|$108|\n|2005|20|80|\n|2006|26|67|\n|2007|34|38|\n|2008|26|31|\n|Later years|127|131|\n|Sublease rentals|\u2013|-77|\n|Total minimum lease payments|262|$378|\n|Less imputed interest costs|81||\n|Present value of net minimum lease payments included in long-term debt|$181||\n", + "In connection with past sales of various plants and operations, Marathon assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.", + "In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, Marathon remains primarily obligated for payments under these leases.", + "Minimum lease payments under these operating lease obligations of $54 million have been included above and an equal amount has been reported as sublease rentals.", + "Of the $181 million present value of net minimum capital lease payments, $135 million was related to obligations assumed by United States Steel under the Financial Matters Agreement.", + "Of the $378 million total minimum operating lease payments, $18 million was assumed by United States Steel under the Financial Matters Agreement.", + "During 2003, Marathon purchased two LNG tankers to transport LNG primarily from Kenai, Alaska to Tokyo, Japan which were previously leased.", + "A $17 million charge was recorded on the termination of the two tanker operating leases.", + "Operating lease rental expense was:", + "| (In millions) |2003 $182(a)|2002 $196(a)|2001 $159|\n|Minimum rental|\n|Contingent rental|15|13|13|\n|Sublease rentals|-9|-11|-11|\n|Net rental expense|$188|$198|$161|\n", + "(a) Excludes $23 million and $24 million paid by United States Steel in 2003 and 2002 on assumed leases.", + "The above discussion contains forward-looking statements with regard to the Jackpine mine expansion and Quest CCS.", + "Some factors that could affect the Jackpine mine expansion include the inability to obtain or delay in obtaining third-party approvals and permits.", + "The Quest CCS is subject to the inability to obtain or delay in obtaining government funds, the availability of materials and labor, unforeseen hazards such as weather conditions and other risks customarily associated with these types of projects.", + "Actual results may differ materially from these expectations, estimates and projections and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and difficult to predict.", + "The foregoing factors (among others) could cause actual results to differ materially from those set forth in the forward-looking statements.", + "Reserves Estimated Reserve Quantities The following table sets forth estimated quantities of our proved liquid hydrocarbon, natural gas and synthetic crude oil reserves based upon an unweighted average of closing prices for the first day of each month in the 12-month periods ended December 31, 2013, 2012 and 2011.", + "Included in our liquid hydrocarbon reserves are NGLs which represent approximately 7 percent, 6 percent and 5 percent of our total proved reserves on an oil equivalent barrel basis as of December 2013, 2012 and 2011.", + "Approximately 72 percent, 63 percent and 40 percent of those NGL reserves are associated with our U. S. unconventional resource plays as of December 31, 2013, 2012 and 2011.", + "Reserves are disclosed by continent and by country if the proved reserves related to any geographic area, on an oil equivalent barrel basis, represent 15 percent or more of our total proved reserves.", + "A geographic area can be an individual country, group of countries within a continent, or a continent.", + "Due to the agreements entered in 2013 to sell our Angola assets, estimated proved reserves for Angola are reported as discontinued operations (\"Disc Ops\") for all presented periods.", + "Approximately 73 percent of our December 31, 2013 proved reserves are located in OECD countries.", + "||North America|Africa|Europe Total|||\n|December 31, 2013|U.S.|Canada|Total|E.G.|Other|Total|Disc Ops|GrandTotal|\n|Proved Developed Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|292|\u2014|292|55|176|231|78|19|620|\n|Natural gas(bcf)|540|\u2014|540|823|95|918|41|\u2014|1,499|\n|Synthetic crude oil(mmbbl)|\u2014|674|674|\u2014|\u2014|\u2014|\u2014|\u2014|674|\n|Total proved developed reserves(mmboe)|382|674|1,056|193|192|385|84|19|1,544|\n|Proved Undeveloped Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|324|\u2014|324|43|39|82|11|9|426|\n|Natural gas(bcf)|485|\u2014|485|497|110|607|80|\u2014|1,172|\n|Synthetic crude oil(mmbbl)|\u2014|6|6|\u2014|\u2014|\u2014|\u2014|\u2014|6|\n|Total proved undeveloped reserves(mmboe)|405|6|411|125|57|182|25|9|627|\n|Total Proved Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|616|\u2014|616|98|215|313|89|28|1,046|\n|Natural gas(bcf)|1,025|\u2014|1,025|1,320|205|1,525|121|\u2014|2,671|\n|Synthetic crude oil(mmbbl)|\u2014|680|680|\u2014|\u2014|\u2014|\u2014|\u2014|680|\n|Total proved reserves(mmboe)|787|680|1,467|318|249|567|109|28|2,171|\n", + "discount to Brent was narrower in 2013 than in 2012 and 2011.", + "As a result of the significant increase in U. S. production of light sweet crude oil, the historical relationship between WTI, Brent and LLS pricing may not be indicative of future periods.", + "Composition \u2013 The proportion of our liquid hydrocarbon sales volumes that are NGLs continues to increase due to our development of United States unconventional liquids-rich plays.", + "NGLs were 15 percent of our North America E&P liquid hydrocarbon sales volumes in 2013 compared to 10 percent in 2012 and 7 percent in 2011.", + "Natural gas \u2013 A significant portion of our natural gas production in the U. S. is sold at bid-week prices, or first-of-month indices relative to our specific producing areas.", + "Average Henry Hub settlement prices for natural gas were 31 percent higher for 2013 than for 2012. International E&P Liquid hydrocarbons \u2013 Our International E&P crude oil production is relatively sweet and has historically sold in relation to the Brent crude benchmark, which on average was 3 percent lower for 2013 than 2012.", + "Natural gas \u2013 Our major International E&P natural gas-producing regions are Europe and E. G. Natural gas prices in Europe have been considerably higher than the U. S. in recent years.", + "In the case of E. G. , our natural gas sales are subject to term contracts, making realized prices in these areas less volatile.", + "The natural gas sales from E. G. are at fixed prices; therefore, our reported average International E&P natural gas realized prices may not fully track market price movements.", + "Oil Sands Mining The Oil Sands Mining segment produces and sells various qualities of synthetic crude oil.", + "Output mix can be impacted by operational problems or planned unit outages at the mines or upgrader.", + "Sales prices for roughly two-thirds of the normal output mix has historically tracked movements in WTI and one-third has historically tracked movements in the Canadian heavy crude oil marker, primarily WCS.", + "The WCS discount to WTI has been increasing on average in each year presented below.", + "Despite a wider WCS discount in 2013, our average Oil Sands Mining price realizations increased due to a greater proportion of higher value synthetic crude oil sales volumes compared to 2012.", + "The operating cost structure of the Oil Sands Mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime.", + "Per-unit costs are sensitive to production rates.", + "Key variable costs are natural gas and diesel fuel, which track commodity markets such as the AECO natural gas sales index and crude oil prices, respectively.", + "The table below shows average benchmark prices that impact both our revenues and variable costs:", + "|Benchmark|2013|2012|2011|\n|WTI crude oil(Dollars per bbl)|$98.05|$94.15|$95.11|\n|WCS(Dollars per bbl)(a)|$72.77|$73.18|$77.97|\n|AECO natural gas sales index(Dollars per mmbtu)(b)|$3.08|$2.39|$3.68|\n", + "Provision for income taxes increased $1,791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations, including the impact of the resumption of sales in Libya in the first quarter of 2012.", + "The following is an analysis of the effective income tax rates for 2012 and 2011:", + "||2012|2011|\n|Statutory rate applied to income from continuing operations before income taxes|35%|35%|\n|Effects of foreign operations, including foreign tax credits|18|6|\n|Change in permanent reinvestment assertion|\u2014|5|\n|Adjustments to valuation allowances|21|14|\n|Tax law changes|\u2014|1|\n|Effective income tax rate on continuing operations|74%|61%|\n", + "The effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income.", + "The provision for income taxes is allocated on a discrete, stand-alone basis to pretax segment income and to individual items not allocated to segments.", + "The difference between the total provision and the sum of the amounts allocated to segments appears in the \"Corporate and other unallocated items\" shown in the reconciliation of segment income to net income below.", + "Effects of foreign operations \u2013 The effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011, primarily due to the resumption of sales in Libya in the first quarter of 2012, where the statutory rate is in excess of 90 percent.", + "Change in permanent reinvestment assertion \u2013 In the second quarter of 2011, we recorded $716 million of deferred U. S. tax on undistributed earnings of $2,046 million that we previously intended to permanently reinvest in foreign operations.", + "Offsetting this tax expense were associated foreign tax credits of $488 million.", + "In addition, we reduced our valuation allowance related to foreign tax credits by $228 million due to recognizing deferred U. S. tax on previously undistributed earnings.", + "Adjustments to valuation allowances \u2013 In 2012 and 2011, we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all U. S. benefits on foreign taxes accrued in those years.", + "See Item 8.", + "Financial Statements and Supplementary Data - Note 10 to the consolidated financial statements for further information about income taxes.", + "Discontinued operations is presented net of tax, and reflects our downstream business that was spun off June 30, 2011 and our Angola business which we agreed to sell in 2013.", + "See Item 8.", + "Financial Statements and Supplementary Data \u2013 Notes 3 and 6 to the consolidated financial statements for additional information." + ], + "question_id": "simplong-test-52", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Long-term debt (a) in the years where Operating leases (b) is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table details the fee-paid committed and uncommitted credit lines we had available as of May 28, 2017:", + "| In Billions| Facility Amount| Borrowed Amount|\n|Credit facility expiring:|||\n|May 2022|$2.7|$\u2014|\n|June 2019|0.2|0.1|\n|Total committed credit facilities|2.9|0.1|\n|Uncommitted credit facilities|0.5|0.1|\n|Total committed and uncommitted credit facilities|$3.4|$0.2|\n", + "In fiscal 2016, we entered into a $2.7 billion fee-paid committed credit facility that was originally scheduled to expire in May 2021.", + "During the fourth quarter of fis\u0002cal 2017 we amended the credit facility\u2019s expiration date by one year to May 2022.", + "To ensure availability of funds, we maintain bank credit lines sufficient to cover our outstanding notes payable.", + "Commercial paper is a continuing source of short-term financing.", + "We have commercial paper pro\u0002grams available to us in the United States and Europe.", + "We also have uncommitted and asset-backed credit lines that support our foreign operations.", + "The credit facilities contain several covenants, including a require\u0002ment to maintain a fixed charge coverage ratio of at least 2.5 times.", + "Certain of our long-term debt agreements, our credit facilities, and our noncontrolling interests contain restrictive covenants.", + "As of May 28, 2017, we were in compliance with all of these covenants.", + "We have $605 million of long-term debt maturing in the next 12 months that is classified as current, includ\u0002ing $500 million of 1.4 percent notes due October 2017 and $100 million of 6.39 percent fixed rate medium term notes due for remarketing in February 2018.", + "We believe that cash flows from operations, together with available short- and long-term debt financing, will be adequate to meet our liquidity and capital needs for at least the next 12 months.", + "As of May 28, 2017, our total debt, including the impact of derivative instruments designated as hedges, was 67 percent in fixed-rate and 33 percent in float\u0002ing-rate instruments, compared to 78 percent in fixed\u0002rate and 22 percent in floating-rate instruments on May 29, 2016.", + "Return on average total capital was 12.7 percent in fiscal 2017 compared to 12.9 percent in fiscal 2016.", + "Improvement in adjusted return on average total capital is one of our key performance measures (see the \u201cNon\u0002GAAP Measures\u201d section below for our discussion of this measure, which is not defined by GAAP).", + "Adjusted return on average total capital increased 30 basis points from 11.3 percent in fiscal 2016 to 11.6 percent in fis\u0002cal 2017 as fiscal 2017 adjusted earnings increased.", + "On a constant-currency basis, adjusted return on average total capital increased 40 basis points.", + "We also believe that our fixed charge coverage ratio and the ratio of operating cash flow to debt are import\u0002ant measures of our financial strength.", + "Our fixed charge coverage ratio in fiscal 2017 was 7.26 compared to 7.40 in fiscal 2016.", + "The measure decreased from fiscal 2016 as earnings before income taxes and after-tax earnings from joint ventures decreased by $132 million in fiscal 2017.", + "Our operating cash flow to debt ratio decreased 6.8 percentage points to 24.4 percent in fiscal 2017, driven by a decrease in cash provided by operations and an increase in notes payable.", + "We have a 51 percent controlling interest in Yoplait SAS and a 50 percent interest in Yoplait Marques SNC and Libert\u00e9 Marques S\u00e0rl.", + "Sodiaal holds the remaining interests in each of these entities.", + "We consolidate these entities into our consolidated financial statements.", + "We record Sodiaal\u2019s 50 percent interest in Yoplait Marques SNC and Libert\u00e9 Marques S\u00e0rl as noncontrolling inter\u0002ests, and its 49 percent interest in Yoplait SAS as a redeemable interest on our Consolidated Balance Sheets.", + "These euro- and Canadian dollar-denominated interests are reported in U. S. dollars on our Consolidated Balance Sheets.", + "Sodiaal has the ability to put all or a portion of its redeemable interest to us at fair value once per year, up to three times before December 2024.", + "As of May 28, 2017, the redemption value of the redeemable interest was $911 million which approximates its fair value.", + "The third-party holder of the General Mills Cereals, LLC (GMC) Class A Interests receives quarterly pre\u0002ferred distributions from available net income based on the application of a floating preferred return rate to the holder\u2019s capital account balance established in the most recent mark-to-market valuation (currently $252 million).", + "On June 1, 2015, the floating preferred return rate on GMC\u2019s Class A Interests was reset to the sum of three-month LIBOR plus 125 basis points.", + "The pre\u0002ferred return rate is adjusted every three years through a negotiated agreement with the Class A Interest holder or through a remarketing auction.", + "We have an option to purchase the Class A Interests for consideration equal to the then current capital account value, plus any unpaid preferred return and the prescribed make-whole amount.", + "If we purchase these interests, any change in the third-party holder\u2019s capital account from its original value will be charged directly to retained earnings and will increase or decrease the net earnings used to calculate EPS in that period.", + "OFF-BALANCE SHEET ARRANGEMENTS AND CONTRACTUAL OBLIGATIONS As of May 28, 2017, we have issued guarantees and comfort letters of $505 million for the debt and other obligations of consolidated subsidiaries, and guarantees and comfort letters of $165 million for the debt and other obligations of non-consolidated affiliates, mainly CPW.", + "In addition, off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases, which totaled $501 million as of May 28, 2017.", + "As of May 28, 2017, we had invested in five variable interest entities (VIEs).", + "None of our VIEs are material to our results of operations, financial condition, or liquidity as of and for the fiscal year ended May 28, 2017.", + "Our defined benefit plans in the United States are subject to the requirements of the Pension Protection Act (PPA).", + "In the future, the PPA may require us to make additional contributions to our domestic plans.", + "We do not expect to be required to make any contribu\u0002tions in fiscal 2017.", + "The following table summarizes our future estimated cash payments under existing contractual obligations, including payments due by period:", + "|| Payments Due by Fiscal Year|\n| In Millions|Total|2018|2019 -20|2021 -22|2023 and Thereafter|\n|Long-term debt (a)|$8,290.6|604.2|2,647.7|1,559.3|3,479.4|\n|Accrued interest|83.8|83.8|\u2014|\u2014|\u2014|\n|Operating leases (b)|500.7|118.8|182.4|110.4|89.1|\n|Capital leases|1.2|0.4|0.6|0.1|0.1|\n|Purchase obligations (c)|3,191.0|2,304.8|606.8|264.3|15.1|\n|Total contractual obligations|12,067.3|3,112.0|3,437.5|1,934.1|3,583.7|\n|Other long-term obligations (d)|1,372.7|\u2014|\u2014|\u2014|\u2014|\n|Total long-term obligations|$13,440.0|$3,112.0|$3,437.5|$1,934.1|$3,583.7|\n", + "(a) Amounts represent the expected cash payments of our long-term debt and do not include $1.2 million for capital leases or $44.4 million for net unamortized debt issuance costs, premiums and discounts, and fair value adjustments.", + "(b) Operating leases represents the minimum rental commitments under non-cancelable operating leases.", + "(c) The majority of the purchase obligations represent commitments for raw material and packaging to be utilized in the normal course of business and for consumer marketing spending commitments that support our brands.", + "For purposes of this table, arrangements are considered purchase obliga\u0002tions if a contract specifies all significant terms, including fixed or minimum quantities to be purchased, a pricing structure, and approximate timing of the transaction.", + "Most arrangements are cancelable without a significant penalty and with short notice (usually 30 days).", + "Any amounts reflected on the Consolidated Balance Sheets as accounts payable and accrued liabilities are excluded from the table above.", + "(d) The fair value of our foreign exchange, equity, commodity, and grain derivative contracts with a payable position to the counterparty was $24 million as of May 28, 2017, based on fair market values as of that date.", + "Future changes in market values will impact the amount of cash ultimately paid or received to settle those instruments in the future.", + "Other long-term obligations mainly consist of liabilities for accrued compensation and bene\u0002fits, including the underfunded status of certain of our defined benefit pen\u0002sion, other postretirement benefit, and postemployment benefit plans, and miscellaneous liabilities.", + "We expect to pay $21 million of benefits from our unfunded postemployment benefit plans and $14.6 million of deferred com\u0002pensation in fiscal 2018.", + "We are unable to reliably estimate the amount of these payments beyond fiscal 2018.", + "As of May 28, 2017, our total liability for uncertain tax positions and accrued interest and penalties was $158.6 million.", + "SIGNIFICANT ACCOUNTING ESTIMATES For a complete description of our significant account\u0002ing policies, see Note 2 to the Consolidated Financial Statements on page 51 of this report.", + "Our significant accounting estimates are those that have a meaning\u0002ful impact on the reporting of our financial condition and results of operations.", + "These estimates include our accounting for promotional expenditures, valuation of long-lived assets, intangible assets, redeemable interest, stock-based compensation, income taxes, and defined benefit pension, other postretirement benefit, and pos\u0002temployment benefit plans.", + "Promotional Expenditures Our promotional activi\u0002ties are conducted through our customers and directly or indirectly with end consumers.", + "These activities include: payments to customers to perform merchan\u0002dising activities on our behalf, such as advertising or in-store displays; discounts to our list prices to lower retail shelf prices; payments to gain distribution of new products; coupons, contests, and other incentives; and media and advertising expenditures.", + "The recognition of these costs requires estimation of customer participa\u0002tion and performance levels.", + "These estimates are based" + ], + "question_id": "simplong-test-53", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Securities to the total for Net realized losses reclassified into earnings in 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The calculation of earnings per common share and diluted earnings per common share for 2004, 2003 and 2002 is presented below.", + "See Note 1 of the Consolidated Financial Statements for a discus\u0002sion on the calculation of earnings per common share.", + "| (Dollars in millions, except per share information; shares in thousands)|2004|2003|2002|\n| Earnings per common share||||\n|Net income|$14,143|$10,810|$9,249|\n|Preferred stock dividends|-16|-4|-5|\n|Net income available to common shareholders|$14,127|$10,806|$9,244|\n|Average common shares issued and outstanding|3,758,507|2,973,407|3,040,085|\n| Earnings per common share|$3.76|$3.63|$3.04|\n| Diluted earnings per common share||||\n|Net income available to common shareholders|$14,127|$10,806|$9,244|\n|Convertible preferred stock dividends|2|4|5|\n|Net income available to common shareholders and assumed conversions|$14,129|$10,810|$9,249|\n|Average common shares issued and outstanding|3,758,507|2,973,407|3,040,085|\n|Dilutive potential common shares-1, 2|65,436|56,949|90,850|\n|Total diluted average common shares issued and outstanding|3,823,943|3,030,356|3,130,935|\n| Diluted earnings per common share|$3.69|$3.57|$2.95|\n", + "(1) For 2004, 2003 and 2002, average options to purchase 10 million, 19 million and 45 million shares, respectively, were outstanding but not included in the computation of earnings per common share because they were antidilutive.", + "(2) Includes incremental shares from assumed conversions of convertible preferred stock, restricted stock units, restricted stock shares and stock options.", + "Note 14 Regulatory Requirements and Restrictions The Board of Governors of the Federal Reserve System (FRB) requires the Corporation\u2019s banking subsidiaries to maintain reserve balances based on a percentage of certain deposits.", + "Average daily reserve bal\u0002ances required by the FRB were $6.9 billion and $4.1 billion for 2004 and 2003, respectively.", + "Currency and coin residing in branches and cash vaults (vault cash) are used to partially satisfy the reserve requirement.", + "The average daily reserve balances, in excess of vault cash, held with the Federal Reserve Bank amounted to $70 million and $317 million for 2004 and 2003, respectively.", + "The primary source of funds for cash distributions by the Corporation to its shareholders is dividends received from its bank\u0002ing subsidiaries.", + "Bank of America, N. A. and Fleet National Bank declared and paid dividends of $5.9 billion and $1.3 billion, respec\u0002tively, for 2004 to the parent.", + "In 2005, Bank of America, N. A. and Fleet National Bank can declare and pay dividends to the parent of $4.7 billion and $790 million plus an additional amount equal to their net profits for 2005, as defined by statute, up to the date of any such dividend declaration.", + "The other subsidiary national banks can initiate aggregate dividend payments in 2005 of $2.6 billion plus an addi\u0002tional amount equal to their net profits for 2005, as defined by statute, up to the date of any such dividend declaration.", + "The amount of dividends that each subsidiary bank may declare in a calendar year without approval by the OCC is the subsidiary bank\u2019s net profits for that year combined with its net retained profits, as defined, for the preceding two years.", + "The FRB, the OCC and the Federal Deposit Insurance Corporation (collectively, the Agencies) have issued regulatory capital guidelines for U. S. banking organizations.", + "Failure to meet the capital requirements can initiate certain mandatory and discretionary actions by regulators that could have a material effect on the Corporation\u2019s financial statements.", + "At December 31, 2004 and 2003, the Corporation and Bank of America, N. A. were classified as well-capitalized under this regulatory framework.", + "At December 31, 2004, Fleet National Bank was classified as well-capitalized under this regulatory framework.", + "There have been no conditions or events since December 31, 2004 that management believes have changed the Corporation\u2019s, Bank of America, N. A.", + "\u2019s or Fleet National Bank\u2019s capital classifications.", + "|| December 31| Average Balance|\n|(Dollars in millions)| 2007|2006| 2007|2006|\n|Total loans and leases|$359,946|$307,661|$327,810|$288,131|\n|Total earning assets-1|383,384|343,338|353,591|344,013|\n|Total assets-1|442,987|399,373|408,034|396,559|\n|Total deposits|344,850|329,195|328,918|332,242|\n", + "The strategy for GCSBB is to attract, retain and deepen customer relationships.", + "We achieve this strategy through our ability to offer a wide range of products and services through a franchise that stretches coast to coast through 32 states and the District of Columbia.", + "We also provide credit card products to customers in Canada, Ireland, Spain and the United Kingdom.", + "In the U. S. , we serve approximately 59 million consumer and small business relationships utilizing our network of 6,149 banking centers, 18,753 domestic branded ATMs, and telephone and Internet channels.", + "Within GCSBB, there are three primary businesses: Deposits, Card Services, and Consumer Real Estate.", + "In addition, ALM/Other includes the results of ALM activities and other consumer-related busi\u0002nesses (e. g. , insurance).", + "GCSBB, specifically Card Services, is presented on a managed basis.", + "For a reconciliation of managed GCSBB to held GCSBB, see Note 22 \u2013 Business Segment Information to the Consolidated Financial Statements.", + "During 2007, Visa Inc. filed a registration statement with the SEC with respect to a proposed IPO.", + "Subject to market conditions and other factors, Visa Inc. expects the IPO to occur in the first half of 2008.", + "We expect to record a gain associated with the IPO.", + "In addition, we expect that a portion of the proceeds from the IPO will be used by Visa Inc. to fund liabilities arising from litigation which would allow us to record an offset to the litigation liabilities that we recorded in the fourth quarter of 2007 as discussed below.", + "Net income decreased $1.9 billion, or 17 percent, to $9.4 billion compared to 2006 as increases in noninterest income and net interest income were more than offset by increases in provision for credit losses and noninterest expense.", + "Net interest income increased $612 million, or two percent, to $28.8 billion due to the impacts of organic growth and the LaSalle acquisition on average loans and leases, and deposits compared to 2006.", + "Noninterest income increased $2.1 billion, or 13 percent, to $18.9 billion compared to the same period in 2006, mainly due to increases in card income, service charges and mortgage banking income.", + "Provision for credit losses increased $4.4 billion, or 51 percent, to $12.9 billion compared to 2006.", + "This increase primarily resulted from a $3.2 billion increase in Card Services and a $978 million increase in Consumer Real Estate.", + "For further discussion of the increase in provision for credit losses related to Card Services and Consumer Real Estate, see their respective discussions.", + "Noninterest expense increased $1.7 billion, or nine percent, to $20.1 billion largely due to increases in personnel-related expenses, Visa\u0002related litigation costs, equally allocated to Card Services and Treasury Services on a management accounting basis, and technology related costs.", + "For additional information on Visa-related litigation, see Note 13 \u2013 Commitments and Contingencies to the Consolidated Financial Statements.", + "Deposits Deposits provides a comprehensive range of products to consumers and small businesses.", + "Our products include traditional savings accounts, money market savings accounts, CDs and IRAs, and noninterest and interest-bearing checking accounts.", + "Debit card results are also included in Deposits.", + "Deposit products provide a relatively stable source of funding and liquidity.", + "We earn net interest spread revenues from investing this liquidity in earning assets through client-facing lending activity and our ALM activ\u0002ities.", + "The revenue is allocated to the deposit products using our funds transfer pricing process which takes into account the interest rates and maturity characteristics of the deposits.", + "Deposits also generate fees such as account service fees, non-sufficient fund fees, overdraft charges and ATM fees, while debit cards generate merchant interchange fees based on purchase volume.", + "Excluding accounts obtained through acquisitions, we added approx\u0002imately 2.3 million net new retail checking accounts in 2007.", + "These addi\u0002tions resulted from continued improvement in sales and service results in the Banking Center Channel and Online, and the success of such products as Keep the ChangeTM, Risk Free CDs, Balance Rewards and Affinity.", + "We continue to migrate qualifying affluent customers and their related deposit balances from GCSBB to GWIM.", + "In 2007, a total of $11.4 billion of deposits were migrated from GCSBB to GWIM compared to $10.7 billion in 2006.", + "After migration, the associated net interest income, serv\u0002ice charges and noninterest expense are recorded in GWIM.", + "Net income increased $364 million, or seven percent, to $5.2 billion compared to 2006 as an increase in noninterest income was partially offset by an increase in noninterest expense.", + "Net interest income remained relatively flat at $9.4 billion compared to 2006 as the addition of LaSalle and higher deposit spreads resulting from disciplined pricing were offset by the impact of lower balances.", + "Average deposits decreased $3.2 billion, or one percent, largely due to the migration of customer rela\u0002tionships and related balances to GWIM, partially offset by the acquisition of LaSalle.", + "The increase in noninterest income was driven by higher serv\u0002ice charges of $665 million, or 12 percent, primarily as a result of new demand deposit account growth and the addition of LaSalle.", + "Additionally, debit card revenue growth of $248 million, or 13 percent, was due to a higher number of checking accounts, increased usage, the addition of LaSalle and market penetration (i. e. , increase in the number of existing account holders with debit cards).", + "Noninterest expense increased $323 million, or four percent, to $9.1 billion compared to 2006, primarily due to the addition of LaSalle, and to higher account and transaction volumes.", + "Card Services Card Services, which excludes the results of debit cards (included in Deposits), provides a broad offering of products, including U. S. Consumer and Business Card, Unsecured Lending, and International Card.", + "We offer a variety of co-branded and affinity credit card products and have become the leading issuer of credit cards through endorsed marketing in the U. S. and Europe.", + "During 2007, Merchant Services was transferred to Treasury Services within GCIB.", + "Previously their results were reported in Card Serv\u0002ices.", + "Prior period amounts have been reclassified.", + "The shares of the series of preferred stock previously discussed are not subject to the operation of a sinking fund and have no participation rights.", + "With the exception of the Series L Preferred Stock, the shares of the series of preferred stock in the previous table are not convertible.", + "The holders of these series have no general voting rights.", + "If any dividend payable on these series is in arrears for three or more semi-annual or six or more quarterly dividend periods, as applicable (whether consecutive or not), the holders of these series and any other class or series of pre\u0002ferred stock ranking equally as to payment of dividends and upon which equivalent voting rights have been conferred and are exercisable (voting as a single class) will be entitled to vote for the election of two additional directors.", + "These voting rights terminate when the Corporation has paid in full dividends on these series for at least two semi-annual or four quar\u0002terly dividend periods, as applicable, following the dividend arrearage (or, in the case of the Series N Preferred Stock, upon payment of all accrued and unpaid dividends).", + "In October 2008, in connection with the TARP Capital Purchase Pro\u0002gram, established as part of the Emergency Economic Stabilization Act of 2008, the Corporation issued to the U. S. Treasury 600 thousand shares of Series N Preferred Stock as presented in the previous table.", + "The Ser\u0002ies N Preferred Stock has a call feature after three years.", + "In connection with this investment, the Corporation also issued to the U. S. Treasury 10-year warrants to purchase approximately 73.1 million shares of Bank of America Corporation common stock at an exercise price of $30.79 per share.", + "Upon the request of the U. S. Treasury, at any time, the Corpo\u0002ration has agreed to enter into a deposit arrangement pursuant to which the Series N Preferred Stock may be deposited and depositary shares, representing 1/25th of a share of Series N Preferred Stock, may be issued.", + "The Corporation has agreed to register the Series N Preferred Stock, the warrants, the shares of common stock underlying the warrants and the depositary shares, if any, for resale under the Securities Act of 1933.", + "As required under the TARP Capital Purchase Program in connection with the sale of the Series N Preferred Stock to the U. S. Treasury, divi\u0002dend payments on, and repurchases of, the Corporation\u2019s outstanding preferred and common stock are subject to certain restrictions.", + "For as long as any Series N Preferred Stock is outstanding, no dividends may be declared or paid on the Corporation\u2019s outstanding preferred and common stock until all accrued and unpaid dividends on Series N Preferred Stock are fully paid.", + "In addition, the U. S. Treasury\u2019s consent is required for any increase in dividends declared on shares of common stock before the third anniversary of the issuance of the Series N Preferred Stock unless the Series N Preferred Stock is redeemed by the Corporation or trans\u0002ferred in whole by the U. S. Treasury.", + "Further, the U. S. Treasury\u2019s consent is required for any repurchase of any equity securities or trust preferred securities except for repurchases of Series N Preferred Stock or repurchases of common shares in connection with benefit plans con\u0002sistent with past practice before the third anniversary of the issuance of the Series N Preferred Stock unless redeemed by the Corporation or transferred in whole by the U. S. Treasury.", + "On July 14, 2006, the Corporation redeemed its 6.75% Perpetual Preferred Stock with a stated value of $250 per share.", + "The 382.5 thousand shares, or $96 million, outstanding of preferred stock were redeemed at the stated value of $250 per share, plus accrued and unpaid dividends.", + "On July 3, 2006, the Corporation redeemed its Fixed/Adjustable Rate Cumulative Preferred Stock with a stated value of $250 per share.", + "The 700 thousand shares, or $175 million, outstanding of preferred stock were redeemed at the stated value of $250 per share, plus accrued and unpaid dividends.", + "All preferred stock outstanding has preference over the Corporation\u2019s common stock with respect to the payment of dividends and distribution of the Corporation\u2019s assets in the event of a liquidation or dissolution.", + "Except in certain circumstances, the holders of preferred stock have no voting rights.", + "During 2008, 2007 and 2006 the aggregate dividends declared on preferred stock were $1.3 billion, $182 million and $22 million respectively.", + "In addition, in January 2009, the Corporation declared aggregate dividends on preferred stock of $909 million, including $145 million related to preferred stock exchanged in connection with the Merrill Lynch acquisition.", + "Accumulated OCI The following table presents the changes in accumulated OCI for 2008, 2007 and 2006, net-of-tax.", + "|(Dollars in millions)|Securities -1|Derivatives -2|Employee Benefit Plans -3|Foreign Currency -4|Total|\n| Balance, December 31, 2007|$6,536|$-4,402|$-1,301|$296|$1,129|\n|Net change in fair value recorded in accumulated OCI-5|-10,354|104|-3,387|-1,000|-14,637|\n|Net realized losses reclassified into earnings-6|1,797|840|46|\u2013|2,683|\n| Balance, December 31, 2008|$-2,021|$-3,458|$-4,642|$-704|$-10,825|\n| Balance, December 31, 2006|$-2,733|$-3,697|$-1,428|$147|$-7,711|\n|Net change in fair value recorded in accumulated OCI-5|9,416|-1,252|4|142|8,310|\n|Net realized (gains) losses reclassified into earnings(6)|-147|547|123|7|530|\n| Balance, December 31, 2007|$6,536|$-4,402|$-1,301|$296|$1,129|\n| Balance, December 31, 2005|$-2,978|$-4,338|$-118|$-122|$-7,556|\n|Net change in fair value recorded in accumulated OCI|465|534|-1,310|219|-92|\n|Net realized (gains) losses reclassified into earnings(6)|-220|107|\u2013|50|-63|\n| Balance, December 31, 2006|$-2,733|$-3,697|$-1,428|$147|$-7,711|\n", + "(1) In 2008, 2007 and 2006, the Corporation reclassified net realized losses into earnings on the sales and other-than-temporary impairments of AFS debt securities of $1.4 billion, $137 million and $279 million, net-of-tax, respectively, and net realized (gains) losses on the sales and other-than-temporary impairments of AFS marketable equity securities of $377 million, $(284) million, and $(499) million, net-of-tax, respectively.", + "(2) The amounts included in accumulated OCI for terminated interest rate derivative contracts were losses of $3.4 billion, $3.8 billion and $3.2 billion, net-of-tax, at December 31, 2008, 2007 and 2006, respectively.", + "(3) For more information, see Note 16 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "(4) For 2008, the net change in fair value recorded in accumulated OCI represented $3.8 billion in losses associated with the Corporation\u2019s foreign currency translation adjustments on its net investment in consolidated foreign operations partially offset by gains of $2.8 billion on the related foreign currency exchange hedging results.", + "(5) Securities include the fair value adjustment of $4.8 billion and $8.4 billion, net-of-tax, related to the Corporation\u2019s investment in CCB at December 31, 2008 and 2007.", + "(6) Included in this line item are amounts related to derivatives used in cash flow hedge relationships.", + "These amounts are reclassified into earnings in the same period or periods during which the hedged forecasted transactions affect earnings.", + "This line item also includes (gains) losses on AFS debt and marketable equity securities and impairment charges.", + "These amounts are reclassified into earnings upon sale of the related security or when the other-than-temporary impairment charge is recognized.", + "Entering 2006, earnings in the first quarter are ex\u0002pected to improve compared with the 2005 fourth quar\u0002ter due principally to higher average price realizations, reflecting announced price increases.", + "Product demand for the first quarter should be seasonally slow, but is ex\u0002pected to strengthen as the year progresses, supported by continued economic growth in North America, Asia and Eastern Europe.", + "Average prices should also improve in 2006 as price increases announced in late 2005 and early 2006 for uncoated freesheet paper and pulp con\u0002tinue to be realized.", + "Operating rates are expected to improve as a result of industry-wide capacity reductions in 2005.", + "Although energy and raw material costs remain high, there has been some decline in both natural gas and delivered wood costs, with further moderation ex\u0002pected later in 2006.", + "We will continue to focus on fur\u0002ther improvements in our global manufacturing operations, implementation of supply chain enhance\u0002ments and reductions in overhead costs during 2006.", + "Industrial Packaging Demand for Industrial Packaging products is closely correlated with non-durable industrial goods production in the United States, as well as with demand for proc\u0002essed foods, poultry, meat and agricultural products.", + "In addition to prices and volumes, major factors affecting the profitability of Industrial Packaging are raw material and energy costs, manufacturing efficiency and product mix.", + "Industrial Packaging\u2019s net sales for 2005 increased 2% compared with 2004, and were 18% higher than in 2003, reflecting the inclusion of International Paper Distribution Limited (formerly International Paper Pacific Millennium Limited) beginning in August 2005.", + "Operating profits in 2005 were 39% lower than in 2004 and 13% lower than in 2003.", + "Sales volume increases ($24 million), improved price realizations ($66 million), and strong mill operating performance ($27 million) were not enough to offset the effects of increased raw material costs ($103 million), higher market related downtime costs ($50 million), higher converting operating costs ($22 million), and unfavorable mix and other costs ($67 million).", + "Additionally, the May 2005 sale of our Industrial Papers business resulted in a $25 million lower earnings contribution from this business in 2005.", + "The segment took 370,000 tons of downtime in 2005, including 230,000 tons of lack-of-order downtime to balance internal supply with customer demand, com\u0002pared to a total of 170,000 tons in 2004, which included 5,000 tons of lack-of-order downtime.", + "| In millions|2005|2004|2003|\n|Sales|$4,935|$4,830|$4,170|\n|Operating Profit|$230|$380|$264|\n", + "Containerboard\u2019s net sales totaled $895 million in 2005, $951 million in 2004 and $815 million in 2003.", + "Soft market conditions and declining customer demand at the end of the first quarter led to lower average sales prices during the second and third quarters.", + "Beginning in the fourth quarter, prices recovered as a result of in\u0002creased customer demand and a rationalization of sup\u0002ply.", + "Full year sales volumes trailed 2004 levels early in the year, reflecting the weak market conditions in the first half of 2005.", + "However, volumes rebounded in the second half of the year, and finished the year ahead of 2004 levels.", + "Operating profits decreased 38% from 2004, but were flat with 2003.", + "The favorable impacts of in\u0002creased sales volumes, higher average sales prices and improved mill operating performance were not enough to offset the impact of higher wood, energy and other raw material costs and increased lack-of-order down\u0002time.", + "Implementation of the new supply chain operating model in our containerboard mills during 2005 resulted in increased operating efficiency and cost savings.", + "Specialty Papers in 2005 included the Kraft Paper business for the full year and the Industrial Papers busi\u0002ness for five months prior to its sale in May 2005.", + "Net sales totaled $468 million in 2005, $723 million in 2004 and $690 million in 2003.", + "Operating profits in 2005 were down 23% compared with 2004 and 54% com\u0002pared with 2003, reflecting the lower contribution from Industrial Papers.", + "U. S. Converting Operations net sales for 2005 were $2.6 billion compared with $2.3 billion in 2004 and $1.9 billion in 2003.", + "Sales volumes were up 10% in 2005 compared with 2004, mainly due to the acquisition of Box USA in July 2004.", + "Average sales prices in 2005 began the year above 2004 levels, but softened in the second half of the year.", + "Operating profits in 2005 de\u0002creased 46% and 4% from 2004 and 2003 levels, re\u0002spectively, primarily due to increased linerboard, freight and energy costs.", + "European Container sales for 2005 were $883 mil\u0002lion compared with $865 million in 2004 and $801 mil\u0002lion in 2003.", + "Operating profits declined 19% and 13% compared with 2004 and 2003, respectively.", + "The in\u0002crease in sales in 2005 reflected a slight increase in de\u0002mand over 2004, but this was not sufficient to offset the negative earnings effect of increased operating costs, unfavorable foreign exchange rates and a reduction in average sales prices.", + "The Moroccan box plant acquis\u0002ition, which was completed in October 2005, favorably impacted fourth-quarter results.", + "Industrial Packaging\u2019s sales in 2005 included $104 million from International Paper Distribution Limited, our Asian box and containerboard business, subsequent to the acquisition of an additional 50% interest in Au\u0002gust 2005." + ], + "question_id": "simplong-test-54", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the 25% of the value of Net plan assets totally as of December 31, 2017? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The Company has also encountered various quality issues on its aircraft carrier construction and overhaul programs and its Virginia-class submarine construction program at its Newport News location.", + "These primarily involve matters related to filler metal used in pipe welds identified in 2007, and issues associated with non-nuclear weld inspection and the installation of weapons handling equipment on certain submarines, and certain purchased material quality issues identified in 2009.", + "The Company does not believe that resolution of these issues will have a material effect upon its consolidated financial position, results of operations or cash flows.", + "Environmental Matters\u2014The estimated cost to complete environmental remediation has been accrued where it is probable that the Company will incur such costs in the future to address environmental conditions at currently or formerly owned or leased operating facilities, or at sites where it has been named a Potentially Responsible Party (\u201cPRP\u201d) by the Environmental Protection Agency, or similarly designated by another environmental agency, and these costs can be estimated by management.", + "These accruals do not include any litigation costs related to environmental matters, nor do they include amounts recorded as asset retirement obligations.", + "To assess the potential impact on the Company\u2019s consolidated financial statements, management estimates the range of reasonably possible remediation costs that could be incurred by the Company, taking into account currently available facts on each site as well as the current state of technology and prior experience in remediating contaminated sites.", + "These estimates are reviewed periodically and adjusted to reflect changes in facts and technical and legal circumstances.", + "Management estimates that as of December 31, 2011, the probable future costs for environmental remediation is $3 million, which is accrued in other current liabilities.", + "Factors that could result in changes to the Company\u2019s estimates include: modification of planned remedial actions, increases or decreases in the estimated time required to remediate, changes to the determination of legally responsible parties, discovery of more extensive contamination than anticipated, changes in laws and regulations affecting remediation requirements, and improvements in remediation technology.", + "Should other PRPs not pay their allocable share of remediation costs, the Company may have to incur costs exceeding those already estimated and accrued.", + "In addition, there are certain potential remediation sites where the costs of remediation cannot be reasonably estimated.", + "Although management cannot predict whether new information gained as projects progress will materially affect the estimated liability accrued, management does not believe that future remediation expenditures will have a material effect on the Company\u2019s consolidated financial position, results of operations or cash flows.", + "Financial Arrangements\u2014In the ordinary course of business, HII uses standby letters of credit issued by commercial banks and surety bonds issued by insurance companies principally to support the Company\u2019s self-insured workers\u2019 compensation plans.", + "At December 31, 2011, there were $121 million of standby letters of credit issued but undrawn and $297 million of surety bonds outstanding related to HII.", + "U. S. Government Claims\u2014From time to time, the U. S. Government advises the Company of claims and penalties concerning certain potential disallowed costs.", + "When such findings are presented, the Company and U. S. Government representatives engage in discussions to enable HII to evaluate the merits of these claims as well as to assess the amounts being claimed.", + "The Company does not believe that the outcome of any such matters will have a material effect on its consolidated financial position, results of operations or cash flows.", + "Collective Bargaining Agreements\u2014The Company believes that it maintains good relations with its approximately 38,000 employees of which approximately 50% are covered by a total of 10 collective bargaining agreements.", + "The Company expects to renegotiate renewals of each of its collective bargaining agreements between 2013 and 2015 as they approach expiration.", + "Collective bargaining agreements generally expire after three to five years and are subject to renegotiation at that time.", + "It is not expected that the results of these negotiations, either individually or in the aggregate, will have a material effect on the Company\u2019s consolidated results of operations.", + "Operating Leases\u2014Rental expense for operating leases was $44 million in 2011, $44 million in 2010, and $48 million in 2009.", + "These amounts are net of immaterial amounts of sublease rental income.", + "Minimum rental commitments under long\u0002term non-cancellable operating leases for the next five years and thereafter are:", + "|2012|$21|\n|2013|17|\n|2014|15|\n|2015|13|\n|2016|10|\n|Thereafter|48|\n|Total|$124|\n", + "10.", + "GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS Goodwill HII performs impairment tests for goodwill as of November 30 of each year, or when evidence of potential impairment exists.", + "Goodwill is tested for impairment between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the Company\u2019s reporting units below their carrying value.", + "In light of the adverse equity market conditions that began in the second quarter of 2011 and the resultant decline in industry market multiples and its market capitalization, the Company performed an interim goodwill impairment analysis as of September 30, 2011.", + "The analysis resulted in a $290 million non-cash goodwill impairment charge recorded in the Company\u2019s Ingalls segment in 2011.", + "Due to the complexities involved in determining the implied fair value of the goodwill of each reporting unit, the Company initially recorded a preliminary goodwill impairment charge of $300 million in the third quarter of 2011, which represented its best estimate of the impairment amount at the time of the filing of the Company\u2019s third quarter report.", + "The goodwill impairment charge was later adjusted to $290 million in the fourth quarter of 2011, based on the final impairment analysis.", + "The goodwill at these businesses has no tax basis, and, accordingly, there was no tax benefit associated with recording the impairment charge.", + "No goodwill impairment was recognized at the Newport News segment, as the Company\u2019s analysis indicated its fair value was in excess of its carrying value as of September 30, 2011.", + "The Company performed its annual goodwill impairment testing as of November 30, 2011, and determined that no further impairment was necessary, as the testing indicated the fair value of each reporting unit exceeded its corresponding carrying value.", + "Accumulated goodwill impairment losses at December 31, 2011 and 2010, were $2,780 million and $2,490 million, respectively.", + "The accumulated goodwill impairment losses at December 31, 2011 and 2010, for Ingalls were $1,568 million and $1,278 million, respectively.", + "The accumulated goodwill impairment losses at both December 31, 2011 and 2010, for Newport News were $1,212 million.", + "Prior to completing the second step related to the goodwill impairment charge in 2011, HII tested its purchased intangible assets and other long-lived assets for impairment, and the carrying values of these assets were determined not to be impaired.", + "The changes in the carrying amounts of goodwill during 2011 and 2010 were as follows:", + "| ($ in millions)|Ingalls| Newport News|Total|\n|Balance as of December 31, 2009|$488|$646|$1,134|\n|Balance as of December 31, 2010|488|646|1,134|\n|Goodwill impairment|-290|0|-290|\n| Balance as of December 31, 2011|$198|$646|$844|\n", + "Purchased Intangible Assets The following table summarizes the Company\u2019s aggregate purchased intangible assets, all of which are contract or program related intangible assets:", + "||December 31|\n| ($ in millions)|2011|2010|\n|Gross carrying amount|$939|$939|\n|Accumulated amortization|-372|-352|\n|Net carrying amount|$567|$587|\n", + "The Company\u2019s purchased intangible assets other than goodwill are subject to amortization on a straight-line basis over an aggregate weighted-average period of 40 years.", + "Remaining unamortized intangible assets consist principally of amounts pertaining to nuclear-powered aircraft carrier and submarine intangibles whose useful lives have been estimated based on the long life cycle of the related programs.", + "Amortization expense for the years ended December 31, 2011, 2010 and 2009, was $20 million, $23 million and $30 million, respectively.", + "||December 31, 2017|\n|($ in millions)|Total|Level 1|Level 2|Level 3|\n|Plan assets subject to leveling|||||\n|U.S. and international equities|$1,270|$1,270|$\u2014|$\u2014|\n|Government and agency debt securities|409|\u2014|409|\u2014|\n|Corporate and other debt securities|1,287|\u2014|1,287|\u2014|\n|Group annuity contract|3|\u2014|3|\u2014|\n|Cash and cash equivalents, net|\u2014|\u2014|\u2014|\u2014|\n|Net plan assets subject to leveling|$2,969|$1,270|$1,699|$\u2014|\n|Plan assets not subject to leveling|||||\n|U.S. and international equities (a)|2,012||||\n|Corporate and other debt securities|165||||\n|Real estate investments|279||||\n|Private partnerships|16||||\n|Hedge funds|281||||\n|Cash and cash equivalents, net (b)|115||||\n|Total plan assets not subject to leveling|2,868||||\n|Net plan assets|$5,837||||\n", + "(a) U. S. and international equity securities include investments in small, medium, and large capitalization stocks of public companies held in commingled trust funds.", + "(b) Cash and cash equivalents are liquid short-term investment funds and include net receivables and payables of the trust.", + "These funds are available for immediate use to fund daily operations, execute investment policies, and serve as a temporary investment vehicle.", + "The master trust limits the use of derivatives through direct or separate account investments, such that the derivatives used are liquid and able to be readily valued in the market.", + "Derivative usage in separate account structures is primarily for gaining market exposure in an unlevered manner or hedging investment risks.", + "The fair market value of the pension master trust's derivatives through direct or separate account investments resulted in a net asset of approximately $4 million and a net liability of $1 million as of December 31, 2018 and 2017, respectively.", + "There was no activity attributable to Level 3 retirement plan assets during the years ended December 31, 2018 and 2017.18.", + "STOCK COMPENSATION PLANS As of December 31, 2018, HII had stock-based compensation awards outstanding under the following plans: the Huntington Ingalls Industries, Inc. 2011 Long-Term Incentive Stock Plan (the \"2011 Plan\") and the Huntington Ingalls Industries, Inc. 2012 Long-Term Incentive Stock Plan (the \"2012 Plan\").", + "Stock Compensation Plans On March 23, 2012, the Company's board of directors adopted the 2012 Plan, subject to stockholder approval, and the Company's stockholders approved the 2012 Plan on May 2, 2012.", + "Award grants made on or after May 2, 2012, were made under the 2012 Plan.", + "Award grants made prior to May 2, 2012, were made under the 2011 Plan.", + "No future grants will be made under the 2011 Plan." + ], + "question_id": "simplong-test-55", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Commercial real estate of December 31 2008 Amount, and Assets in custody of December 31 2009 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "GWIM provides a wide offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of our individual and institutional customer base.", + "Our clients have access to a range of services offered through three primary businesses: MLGWM; U. S. Trust, Bank of America Private Wealth Management (U. S. Trust); and Columbia.", + "The results of the Retirement & Philanthropic Serv\u0002ices business, the Corporation\u2019s approximate 34 percent economic ownership interest in BlackRock and other miscellaneous items are included in Other within GWIM.", + "As part of the Merrill Lynch acquisition, we added its financial advisors and an economic ownership interest of approximately 50 percent in BlackRock, a publicly traded investment management company.", + "During 2009, BlackRock completed its purchase of Barclays Global Investors, an asset management business, from Barclays PLC which had the effect of diluting our ownership interest in BlackRock and, for accounting pur\u0002poses, was treated as a sale of a portion of our ownership interest.", + "As a result, upon the closing of this transaction, the Corporation\u2019s economic ownership interest in BlackRock was reduced to approximately 34 percent and we recorded a pre-tax gain of $1.1 billion.", + "Net income increased $1.1 billion, or 78 percent, to $2.5 billion as higher total revenue was partially offset by increases in noninterest expense and provision for credit losses.", + "Net interest income increased $767 million, or 16 percent, to $5.6 billion primarily due to the acquisition of Merrill Lynch partially offset by a lower net interest income allocation from ALM activities and the impact of the migration of client balances during 2009 to Deposits and Home Loans & Insurance.", + "GWIM\u2019s average loan and deposit growth benefited from the acquisition of Merrill Lynch and the shift of client assets from off-balance sheet (e. g. , money market funds) to on-balance sheet prod\u0002ucts (e. g. , deposits) partially offset by the net migration of customer rela\u0002tionships.", + "A more detailed discussion regarding migrated customer relationships and related balances is provided in the following MLGWM discussion.", + "Noninterest income increased $9.5 billion to $12.6 billion primarily due to higher investment and brokerage services income driven by the Merrill Lynch acquisition, the $1.1 billion gain on our investment in BlackRock and the lower level of support provided to certain cash funds partially offset by the impact of lower average equity market levels and net outflows primarily in the cash complex.", + "Provision for credit losses increased $397 million, or 60 percent, to $1.1 billion, reflecting the weak economy during 2009 which drove higher net charge-offs in the consumer real estate and commercial portfolios including a single large commercial charge-off.", + "Noninterest expense increased $8.2 billion to $13.1 billion driven by the addition of Merrill Lynch and higher FDIC insurance and special assessment costs partially offset by lower revenue-related expenses.", + "Client Assets The following table presents client assets which consist of AUM, client brokerage assets, assets in custody and client deposits.", + "||December 31|\n|(Dollars in millions)|2009|2008|\n|Assets under management|$749,852|$523,159|\n|Client brokerage assets-1|1,270,461|172,106|\n|Assets in custody|274,472|133,726|\n|Client deposits|224,840|176,186|\n|Less: Client brokerage assets and assets incustody included in assets under management|-346,682|-87,519|\n| Total net client assets|$2,172,943|$917,658|\n", + "(1) Client brokerage assets include non-discretionary brokerage and fee-based assets.", + "The increase in net client assets was driven by the acquisition of Merrill Lynch and higher equity market values at December 31, 2009 compared to 2008 partially offset by outflows that primarily occurred in cash and money market assets due to increasing interest rate pressure.", + "Merrill Lynch Global Wealth Management Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined the Merrill Lynch wealth management business and our former Premier Banking & Investments business to form MLGWM.", + "MLGWM pro\u0002vides a high-touch client experience through a network of approximately 15,000 client-facing financial advisors to our affluent customers with a personal wealth profile of at least $250,000 of investable assets.", + "The addition of Merrill Lynch created one of the largest financial advisor net\u0002works in the world.", + "Merrill Lynch added $10.3 billion in revenue and $1.6 billion in net income during 2009.", + "Total client balances in MLGWM, which include deposits, AUM, client brokerage assets and other assets in cus\u0002tody, were $1.4 trillion at December 31, 2009.", + "MLGWM includes the impact of migrating customers and their related deposit and loan balances to or from Deposits and Home Loans & Insurance.", + "As of the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the segment to which the customers migrated.", + "During 2009, total deposits of $43.4 billion were migrated to Deposits from MLGWM.", + "Conversely, during 2008, total deposits of $20.5 billion were migrated from Deposits to MLGWM.", + "During 2009 and 2008, total loans of $16.6 billion and $1.7 billion were migrated from MLGWM, of which $11.5 billion and $1.6 bil\u0002lion were migrated to Home Loans & Insurance.", + "These changes in 2009 were mainly due to client segmentation threshold changes resulting from the Merrill Lynch acquisition.", + "Table 9 presents total long-term debt and other obligations at December 31, 2009.", + "|| December 31, 2009|\n|(Dollars in millions)| Due in 1 Year or Less| Due after 1 Year through 3 Years| Due after 3 Years through 5 Years| Due after 5 Years| Total|\n|Long-term debt and capital leases|$99,144|$124,054|$72,103|$143,220|$438,521|\n|Operating lease obligations|3,143|5,072|3,355|8,143|19,713|\n|Purchase obligations|11,957|3,667|1,627|2,119|19,370|\n|Other long-term liabilities|610|1,097|848|1,464|4,019|\n| Total long-term debt and other obligations|$114,854|$133,890|$77,933|$154,946|$481,623|\n", + "Debt, lease, equity and other obligations are more fully discussed in Note 13 \u2013 Long-term Debt and Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "The Plans are more fully discussed in Note 17 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "We enter into commitments to extend credit such as loan commit\u0002ments, standby letters of credit (SBLCs) and commercial letters of credit to meet the financing needs of our customers.", + "For a summary of the total unfunded, or off-balance sheet, credit extension commitment amounts by expiration date, see the table in Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "Regulatory Initiatives On November 12, 2009, the Federal Reserve issued the final rule related to changes to Regulation E and on May 22, 2009, the CARD Act was signed into law.", + "For more information on the impact of these new regu\u0002lations, see Regulatory Overview on page 29.", + "In December 2009, the Basel Committee on Banking Supervision released consultative documents on both capital and liquidity.", + "In addition, we will begin Basel II parallel implementation during the second quarter of 2010.", + "For more information, see Basel Regulatory Capital Requirements on page 64.", + "On January 21, 2010, the Federal Reserve, Office of the Comptroller of the Currency, FDIC and Office of Thrift Supervision (collectively, joint agencies) issued a final rule regarding risk-based capital and the impact of adoption of new consolidation rules issued by the FASB.", + "The final rule eliminates the exclusion of certain asset-backed commercial paper (ABCP) program assets from risk-weighted assets and provides a reser\u0002vation of authority to permit the joint agencies to require banks to treat structures that are not consolidated under the accounting standards as if they were consolidated for risk-based capital purposes commensurate with the risk relationship of the bank to the structure.", + "In addition, the final rule allows for an optional delay and phase-in for a maximum of one year for the effect on risk-weighted assets and the regulatory limit on the inclusion of the allowance for loan and lease losses in Tier 2 capital related to the assets that must be consolidated as a result of the accounting change.", + "The transitional relief does not apply to the leverage ratio or to assets in VIEs to which a bank provides implicit support.", + "We have elected to forgo the phase-in period, and accordingly, we con\u0002solidated the amounts for regulatory capital purposes as of January 1, 2010.", + "For more information on the impact of this guidance, see Impact of Adopting New Accounting Guidance on Consolidation on page 64.", + "On December 14, 2009, we announced our intention to increase lend\u0002ing to small- and medium-sized businesses to approximately $21 billion in 2010 compared to approximately $16 billion in 2009.", + "This announce\u0002ment is consistent with the U. S. Treasury\u2019s initiative, announced as part of the Financial Stability Plan on February 2, 2009, to help increase small business owners\u2019 access to credit.", + "As part of the initiative, the U. S. Treas\u0002ury began making direct purchases of up to $15 billion of certain secu\u0002rities backed by Small Business Administration (SBA) loans to improve liquidity in the credit markets and purchasing new securities to ensure that financial institutions feel confident in extending new loans to small businesses.", + "The program also temporarily raises guarantees to up to 90 percent in the SBA\u2019s loan program and temporarily eliminates certain SBA loan fees.", + "We continue to lend to creditworthy small business customers through small business credit cards, loans and lines of credit products.", + "In response to the economic downturn, the FDIC implemented the Temporary Liquidity Guarantee Program (TLGP) to strengthen confidence and encourage liquidity in the banking system by allowing the FDIC to guarantee senior unsecured debt (e. g. , promissory notes, unsubordinated unsecured notes and commercial paper) up to prescribed limits, issued by participating entities beginning on October 14, 2008, and continuing through October 31, 2009.", + "We participated in this program; however, as announced in September 2009, due to improved market liquidity and our ability to issue debt without the FDIC guarantee, we, with the FDIC\u2019s agreement, exited the program and have stopped issuing FDIC\u0002guaranteed debt.", + "At December 31, 2009, we still had FDIC-guaranteed debt outstanding issued under the TLGP of $44.3 billion.", + "The TLGP also offered the Transaction Account Guarantee Program (TAGP) that guaran\u0002teed noninterest-bearing deposit accounts held at participating FDIC\u0002insured institutions on balances in excess of $250,000.", + "We elected to opt out of the six-month extension of the TAGP which extends the program to June 30, 2010.", + "We exited the TAGP effective December 31, 2009.", + "On September 21, 2009, the Corporation reached an agreement to terminate its term sheet with the U. S. government under which the U. S. government agreed in principle to provide protection against the possi\u0002bility of unusually large losses on a pool of the Corporation\u2019s financial instruments that were acquired from Merrill Lynch.", + "In connection with the termination of the term sheet, the Corporation paid a total of $425 mil\u0002lion to the U. S. government to be allocated among the U. S. Treasury, the Federal Reserve and the FDIC.", + "In addition to exiting the TARP as discussed on page 30, terminating the U. S. Government\u2019s asset guarantee term sheet and exiting the TLGP, including the TAGP, we have exited or ceased participation in market dis\u0002ruption liquidity programs created by the U. S. government in response to the economic downturn of 2008.", + "We have exited or repaid borrowings under the Term Auction Facility, U. S. Treasury Temporary Liquidity Guaran\u0002tee Program for Money Market Funds, ABCP Money Market Fund Liquidity Facility, Commercial Paper Federal Funding Facility, Money Market Investor Funding Facility, Term Securities Lending Facility and Primary Dealer Credit Facility.", + "On November 17, 2009, the FDIC issued a final rule that required insured institutions to prepay on December 30, 2009 their estimated", + "Table 29 presents commercial credit exposure by type for utilized, unfunded and total binding committed credit exposure.", + "Commercial uti\u0002lized credit exposure includes funded loans, standby letters of credit, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which the bank is legally bound to advance funds under pre\u0002scribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial committed credit exposure decreased by $10.1 billion, or one percent, at December 31, 2009 compared to December 31, 2008.", + "The decrease was largely driven by reductions in loans and leases partially offset by an increase in derivatives due to the acquisition of Merrill Lynch.", + "Total commercial utilized credit exposure decreased to $494.4 billion at December 31, 2009 compared to $498.7 billion at December 31, 2008.", + "Funded loans and leases declined due to limited demand for acquisition financing and capital expenditures in the large corporate and middle-market portfolios and as clients utilized the improved capital markets more extensively for their funding needs.", + "With the economic outlook remaining uncertain, businesses are aggressively managing work\u0002ing capital and production capacity, maintaining low inventories and deferring capital spending.", + "The increase in derivative assets was driven by the acquisition of Merrill Lynch substantially offset during 2009 by maturing transactions, mark-to-market adjustments from changing inter\u0002est and foreign exchange rates, as well as narrower credit spreads.", + "The loans and leases funded utilization rate was 57 percent at December 31, 2009 compared to 58 percent at December 31, 2008.", + "|| December 31|\n|| Commercial Utilized-1, 2| Commercial Unfunded-1, 3, 4| Total Commercial Committed-1|\n|(Dollars in millions)| 2009|2008| 2009|2008| 2009|2008|\n|Loans and leases|$322,564|$342,767|$293,519|$300,856|$616,083|$643,623|\n|Derivative assets-5|80,689|62,252|\u2013|\u2013|80,689|62,252|\n|Standby letters of credit and financial guarantees|70,238|72,840|6,008|4,740|76,246|77,580|\n|Assets held-for-sale-6|13,473|14,206|781|183|14,254|14,389|\n|Bankers\u2019 acceptances|3,658|3,382|16|13|3,674|3,395|\n|Commercial letters of credit|2,958|2,974|569|791|3,527|3,765|\n|Foreclosed properties and other|797|328|\u2013|\u2013|797|328|\n| Total commercial credit exposure|$494,377|$498,749|$300,893|$306,583|$795,270|$805,332|\n", + "(1) At December 31, 2009, total commercial utilized, total commercial unfunded and total commercial committed exposure include $88.5 billion, $25.7 billion and $114.2 billion, respectively, related to Merrill Lynch.", + "(2) Total commercial utilized exposure at December 31, 2009 and 2008 includes loans and issued letters of credit accounted for under the fair value option and is comprised of loans outstanding of $4.9 billion and $5.4 billion, and letters of credit with a notional amount of $1.7 billion and $1.4 billion.", + "(3) Total commercial unfunded exposure at December 31, 2009 and 2008 includes loan commitments accounted for under the fair value option with a notional amount of $25.3 billion and $15.5 billion.", + "(4) Excludes unused business card lines which are not legally binding.", + "(5) Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements, and have been reduced by cash collateral of $58.4 billion and $34.8 billion at December 31, 2009 and 2008.", + "Not reflected in utilized and committed exposure is additional derivative collateral held of $16.2 billion and $13.4 billion which consists primarily of other marketable securities at December 31, 2009 and 2008.", + "(6) Total commercial committed assets held-for-sale exposure consists of $9.0 billion and $12.1 billion of commercial LHFS exposure (e. g. , commercial mortgage and leveraged finance) and $5.3 billion and $2.3 billion of assets held-for-sale exposure at December 31, 2009 and 2008.", + "Table 30 presents commercial utilized reservable criticized exposure by product type.", + "Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory author\u0002ities.", + "In addition to reservable loans and leases, excluding those accounted for under the fair value option, exposure includes SBLCs, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which we are legally bound to advance funds under prescribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial utilized reservable criticized exposure rose by $21.7 billion primarily due to increases in commercial real estate and commercial \u2013 domestic.", + "Commercial real estate increased $10.0 billion primarily due to the non-homebuilder portfolio which has been impacted by the weak economy partially offset by a decrease in the homebuilder portfolio.", + "The $9.3 billion increase in commercial \u2013 domestic reflects deterioration across various lines of business and industries, primarily in Global Banking.", + "At December 31, 2009, approximately 85 percent of the loans within criticized reservable utilized exposure are secured.", + "|| December 31|\n||2009|2008|\n|(Dollars in millions)| Amount|Percent -1|Amount|Percent-1|\n|Commercial \u2013 domestic-2|$28,259|11.66%|$18,963|7.20%|\n|Commercial real estate|23,804|32.13|13,830|19.73|\n|Commercial lease financing|2,229|10.04|1,352|6.03|\n|Commercial \u2013 foreign|2,605|7.12|1,459|3.65|\n||56,897|15.17|35,604|8.99|\n|Small business commercial \u2013 domestic|1,789|10.18|1,333|6.94|\n| Total commercial utilized reservable criticized exposure|$58,686|14.94|$36,937|8.90|\n", + "(1) Percentages are calculated as commercial utilized reservable criticized exposure divided by total commercial utilized reservable exposure for each exposure category.", + "(2) Excludes small business commercial \u2013 domestic exposure.", + "The following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs (Level 3) (in millions):", + "||December 31, 2017|\n|Beginning Balance|$78.7|\n|Gains on assets sold|0.3|\n|Change in fair value of assets|3.8|\n|Net purchases and sales|5.2|\n|Translation gain|3.0|\n|Ending Balance|$91.0|\n", + "We expect that we will have no legally required minimum funding requirements in 2018 for the qualified U. S. and Puerto Rico defined benefit retirement plans, nor do we expect to voluntarily contribute to these plans during 2018.", + "Contributions to foreign defined benefit plans are estimated to be $17.0 million in 2018 .", + "We do not expect the assets in any of our plans to be returned to us in the next year.", + "Defined Contribution Plans We also sponsor defined contribution plans for substantially all of the U. S. and Puerto Rico employees and certain employees in other countries.", + "The benefits offered under these plans are reflective of local customs and practices in the countries concerned.", + "We expensed $47.9 million, $42.5 million and $40.2 million related to these plans for the years ended December 31, 2017, 2016 and 2015, respectively.15.", + "Income Taxes 2017 Tax Act: The President signed U. S. tax reform legislation (\u201c2017 Tax Act\u201d) on December 22, 2017, which is considered the enactment date.", + "The 2017 Tax Act includes a broad range of provisions, many of which significantly differ from those contained in previous U. S. tax law.", + "Changes in tax law are accounted for in the period of enactment.", + "As such, our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 Tax Act.", + "The 2017 Tax Act contains several key provisions including, among other things: ?", + "a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits (E&P), referred to as the toll charge; ?", + "a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017; ?", + "the introduction of a new U. S. tax on certain off-shore earnings referred to as global intangible low-taxed income (GILTI) at an effective tax rate of 10.5 percent for tax years beginning after December 31, 2017 (increasing to 13.125 percent for tax years beginning after December 31, 2025), with a partial offset by foreign tax credits; and ?", + "the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries.", + "During the fourth quarter of 2017, we recorded an income tax benefit of $1,272.4 million, which was comprised of the following: ?", + "income tax benefit of $715.0 million for the one-time deemed repatriation of foreign earnings.", + "This is composed of a $1,181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 Tax Act offset by $466.0 million for the toll charge recognized under the 2017 Tax Act.", + "In accordance with the 2017 Tax Act, we expect to elect to pay the toll charge in installments over eight years.", + "As of December 31, 2017, we have recorded current and non-current income tax liabilities related to the toll charge of $82.0 million and $384.0 million, respectively. ?", + "an income tax benefit of $557.4 million, primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent.", + "The net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 Tax Act as of the time of filing this Annual Report on Form 10-K. We further refined our estimates related to the impact of the 2017 Tax Act subsequent to the issuance of our earnings release for the fourth quarter of 2017.", + "In accordance with authoritative guidance issued by the SEC, the income tax effect for certain aspects of the 2017 Tax Act represent provisional amounts for which our accounting is incomplete, but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017.", + "The actual effects of the 2017 Tax Act and final amounts recorded may differ materially from our current estimate of provisional amounts due to, among other things, further interpretive guidance that may be issued by U. S. tax authorities or regulatory bodies, including the SEC and the FASB.", + "We will continue to analyze the 2017 Tax Act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period, which ends in the fourth quarter of 2018.", + "We continue to evaluate the impacts of the 2017 Tax Act and consider the amounts recorded to be provisional.", + "In addition, we are still evaluating the GILTI provisions of the 2017 Tax Act and their impact, if any, on our consolidated financial statements as of December 31, 2017.", + "The FASB allows companies to adopt an accounting policy to either recognize deferred taxes for GILTI or treat such as a tax cost in the year incurred.", + "We have not yet determined which accounting policy to adopt because determining the impact of the GILTI provisions requires analysis of our existing legal entity structure, the reversal of our U. S. GAAP and U. S. tax basis differences in the assets and liabilities of our foreign subsidiaries, and our ability to offset any tax with foreign tax credits.", + "As such, we did not record a deferred income tax" + ], + "question_id": "simplong-test-56", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentual return for s&p 500 in the first year?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PERFORMANCE GRAPH The following graph compares the cumulative five-year total return provided shareholders on our Class A common stock relative to the cumulative total returns of the S&P 500 index and two customized peer groups.", + "The old peer group includes IntercontinentalExchange, Inc. , NYSE Euronext and The Nasdaq OMX Group Inc.", + "The new peer group is the same as the old peer group with the addition of CBOE Holdings, Inc. which completed its initial public offering in June 2010.", + "An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our Class A common stock, in the peer groups and the S&P 500 index on December 31, 2005 and its relative performance is tracked through December 31, 2010.", + "COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among CME Group Inc. , the S&P 500 Index, an Old Peer Group and a New Peer Group", + "||2006|2007|2008|2009|2010|\n|CME Group Inc.|$139.48|$188.81|$58.66|$96.37|$93.73|\n|S&P 500|115.80|122.16|76.96|97.33|111.99|\n|Old Peer Group|155.58|190.78|72.25|76.11|87.61|\n|New Peer Group|155.58|190.78|72.25|76.11|87.61|\n", + "*$100 invested on 12/31/05 in stock or index, including reinvestment of dividends.", + "Fiscal year ending December 31.", + "Copyright?2011 S&P, a division of The McGraw-Hill Companies Inc. All rights reserved.", + "New Peer Group The stock price performance included in this graph is not necessarily indicative of future stock price performance", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) Company has the option to satisfy the repurchases with any combination of cash and/or shares of the Company\u2019s common stock.", + "The Company will have the option to redeem the Notes, in cash, at any time after the fifth anniversary for the initial issue price plus accrued yield to redemption.", + "The Company will pay contingent interest on the Notes during specified six-month periods beginning on April 4, 2006 if the market price of the Notes exceeds specified levels.", + "At November 30, 2003, the carrying value of outstanding Notes, net of unamortized original issue discount, was $261.0 million.", + "At November 30, 2003, the Company had mortgage notes on land and other debt bearing interest at fixed interest rates ranging from 2.9% to 25.0% with an average rate of 8.8%.", + "The notes are due through 2009 and are collateralized by land.", + "At November 30, 2003, the carrying value of the mortgage notes on land and other debt was $73.0 million.", + "The minimum aggregate principal maturities of senior notes and other debts payable during the five years subsequent to November 30, 2003 are as follows: 2004\u2014$21.5 million; 2005\u2014$45.7 million; 2006\u2014$18.4 million; 2007\u2014$4.0 million and 2008\u2014$4.0 million.", + "The remaining principal obligations are due subsequent to November 30, 2008.", + "The Company\u2019s debt arrangements contain certain financial covenants with which the Company was in compliance at November 30, 2003.8.", + "Financial Services The assets and liabilities related to the Company\u2019s financial services operations were as follows:", + "|| November 30, |\n|| 2003 | 2002 |\n|| (In thousands)|\n| Assets:|||\n|Cash and receivables, net|$301,530|239,893|\n|Mortgage loans held for sale, net|542,507|708,304|\n|Mortgage loans, net|30,451|30,341|\n|Title plants|18,215|15,586|\n|Investment securities|28,022|22,379|\n|Goodwill, net|43,503|34,002|\n|Other|46,670|35,422|\n|Limited-purpose finance subsidiaries|5,812|9,202|\n||$1,016,710|1,095,129|\n| Liabilities:|||\n|Notes and other debts payable|$734,657|853,416|\n|Other|132,797|108,770|\n|Limited-purpose finance subsidiaries|5,812|9,202|\n||$873,266|971,388|\n", + "At November 30, 2003, the Financial Services Division had warehouse lines of credit totaling $750 million, which included a $145 million temporary increase that expired in December 2003, to fund its mortgage loan activities.", + "Borrowings under the facilities were $714.4 million and $489.7 million at November 30, 2003 and 2002, respectively, and were collateralized by mortgage loans and receivables on loans sold not yet funded with outstanding principal balances of $742.2 million and $523.8 million, respectively.", + "There are several interest rate pricing options which fluctuate with market rates.", + "The effective interest rate on the facilities at November 30, 2003 and 2002 was 1.7% and 2.3%, respectively.", + "The warehouse lines of credit mature in May 2004 ($250 million) and in October 2005 ($500 million), at which time the Division expects both facilities to be renewed.", + "Additionally, the line of credit maturing in May 2004 includes an incremental $100 million commitment available at each fiscal quarter-end.", + "At November 30, 2003 and 2002, the Division had advances under a conduit funding agreement with a major financial institution amounting to $0.6 million and $343.7 million, respectively.", + "Borrowings under this agreement are collateralized by mortgage loans and had an", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) The following table summarizes information about stock options outstanding at November 30, 2003 (adjusted for the January 2004 two-for-one stock split):", + "|| Options Outstanding | Options Exercisable |\n| Range of Per Share Exercise Prices| Number Outstanding at November 30, 2003 | Weighted Average Remaining Contractual Life | Weighted Average Per Share Exercise Price | Number Outstanding at November 30, 2003 | Weighted Average Per Share Exercise Price |\n|$ 4.02\u2014$ 5.19|66,176|2.7 years|$4.80|31,126|$4.88|\n|$ 7.02\u2014$ 8.38|1,022,714|4.3 years|$7.58|290,114|$7.67|\n|$ 9.25\u2014$12.88|379,944|4.0 years|$9.88|64,244|$9.92|\n|$14.93\u2014$18.88|1,179,736|7.2 years|$16.70|275,448|$16.75|\n|$21.10\u2014$26.32|3,843,448|5.4 years|$24.91|84,404|$24.06|\n|$27.84\u2014$43.16|168,950|4.6 years|$35.73|\u2014|$\u2014|\n", + "Employee Stock Ownership/401(k) Plan Prior to 1998, the Employee Stock Ownership/401(k) Plan (the \u201cPlan\u201d) provided shares of stock to employees who had completed one year of continuous service with the Company.", + "During 1998, the Plan was amended to exclude any new shares from being provided to employees.", + "All prior year contributions to employees actively employed on or after October 1, 1998 vested at a rate of 20% per year over a five year period.", + "All active participants in the Plan whose employment terminated prior to October 1, 1998 vested based upon the Plan that was active prior to their termination of employment.", + "Under the 401(k) portion of the Plan, contributions made by employees can be invested in a variety of mutual funds or proprietary funds provided by the Plan trustee.", + "The Company may also make contributions for the benefit of employees.", + "The Company records as compensation expense an amount which approximates the vesting of the contributions to the Employee Stock Ownership portion of the Plan, as well as the Company\u2019s contribution to the 401(k) portion of the Plan.", + "This amount was $9.1 million in 2003, $7.0 million in 2002 and $6.5 million in 2001.13.", + "Deferred Compensation Plan In June 2002, the Company adopted the Lennar Corporation Nonqualified Deferred Compensation Plan (the \u201cDeferred Compensation Plan\u201d) that allows a selected group of members of management to defer a portion of their salaries and bonuses and up to 100% of their restricted stock.", + "All participant contributions to the Deferred Compensation Plan are vested.", + "Salaries and bonuses that are deferred under the Deferred Compensation Plan are credited with earnings or losses based on investment decisions made by the participants.", + "The cash contributions to the Deferred Compensation Plan are invested by the Company in various investment securities that are classified as trading.", + "Restricted stock is deferred under the Deferred Compensation Plan by surrendering the restricted stock in exchange for the right to receive in the future a number of shares equal to the number of restricted shares that are surrendered.", + "The surrender is reflected as a reduction in stockholders\u2019 equity equal to the value of the restricted stock when it was issued, with an offsetting increase in stockholders\u2019 equity to reflect a deferral of the compensation expense related to the surrendered restricted stock.", + "Changes in the value of the shares that will be issued in the future are not reflected in the financial statements.", + "As of November 30, 2003, approximately 534,000 Class A shares and 53,400 Class B shares of restricted stock (adjusted for the April 2003 10% Class B stock distribution and January 2004 two-for-one stock split) had been surrendered in exchange for rights under the Deferred Compensation Plan, resulting in a reduction in stockholders\u2019 equity of $4.9 million fully offset by an increase in stockholders\u2019 equity to reflect the deferral of compensation in that amount.", + "Shares that the Company is obligated to issue in the future under the Deferred Compensation Plan are treated as outstanding shares in both the Company\u2019s basic and diluted earnings per share calculations for the years ended November 30, 2003 and 2002.", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) 14.", + "Financial Instruments The following table presents the carrying amounts and estimated fair values of financial instruments held by the Company at November 30, 2003 and 2002, using available market information and what the Company believes to be appropriate valuation methodologies.", + "Considerable judgment is required in interpreting market data to develop the estimates of fair value.", + "Accordingly, the estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.", + "The use of different market assumptions and/or estimation methodologies might have a material effect on the estimated fair value amounts.", + "The table excludes cash, receivables and accounts payable, which had fair values approximating their carrying values.", + "||November 30,|\n||2003|2002|\n||Carrying Amount|Fair Value|Carrying Amount|Fair Value|\n||(In thousands)|\n| ASSETS|||||\n| Homebuilding:|||||\n|Investments\u2014trading|$6,859|6,859|\u2014|\u2014|\n| Financial services:|||||\n|Mortgage loans held for sale, net|$542,507|542,507|708,304|708,304|\n|Mortgage loans, net|30,451|29,355|30,341|29,666|\n|Investments held-to-maturity|28,022|28,021|22,379|22,412|\n|Limited-purpose finance subsidiaries\u2014collateral for bonds and notes payable|5,812|6,129|9,202|9,703|\n| LIABILITIES|||||\n| Homebuilding:|||||\n|Senior notes and other debts payable|$1,552,217|1,878,830|1,585,309|1,779,705|\n| Financial services:|||||\n|Notes and other debts payable|$734,657|734,657|853,416|853,416|\n|Limited-purpose finance subsidiaries\u2014bonds and notes payable|5,812|6,129|9,202|9,703|\n| OTHER FINANCIAL INSTRUMENTS|||||\n| Homebuilding:|||||\n|Interest rate swaps|$-33,696|-33,696|-39,256|-39,256|\n| Financial services assets (liabilities):|||||\n|Commitments to originate loans|$-229|-229|-717|-717|\n|Forward commitments to sell loans and option contracts|-1,120|-1,120|1,430|1,430|\n", + "The following methods and assumptions are used by the Company in estimating fair values: Homebuilding\u2014Investments classified as trading (included in other assets): The fair value is based on quoted market prices.", + "Senior notes and other debts payable: The fair value of fixed rate borrowings is based on quoted market prices.", + "Variable rate borrowings are tied to market indices and therefore approximate fair value.", + "Interest rate swaps: The fair value is based on dealer quotations and generally represents an estimate of the amount the Company would pay or receive to terminate the agreement at the reporting date.", + "Financial services\u2014The fair values are based on quoted market prices, if available.", + "The fair values for instruments which do not have quoted market prices are estimated by the Company on the basis of discounted cash flows or other financial information.", + "The Company utilizes interest rate swap agreements to manage interest costs and hedge against risks associated with changing interest rates.", + "Counterparties to these agreements are major financial institutions.", + "Credit loss from counterparty non-performance is not anticipated.", + "A majority of the Company\u2019s available variable rate borrowings are based on the London Interbank Offered Rate (\u201cLIBOR\u201d) index.", + "At November 30, 2003, the" + ], + "question_id": "simplong-test-57", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Curtailments and Settlements and Special termination benefits in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Unconditional Purchase Obligations Approximately $390 of our long-term unconditional purchase obligations relate to feedstock supply for numerous HyCO (hydrogen, carbon monoxide, and syngas) facilities.", + "The price of feedstock supply is principally related to the price of natural gas.", + "However, long-term take-or-pay sales contracts to HyCO customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply.", + "Due to the matching of most long-term feedstock supply obligations to customer sales contracts, we do not believe these purchase obligations would have a material effect on our financial condition or results of operations.", + "Refer to Note 17, Commitments and Contingencies, to the consolidated financial statements for additional information on our unconditional purchase obligations.", + "The unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations, which are primarily pass-through contracts with our customers.", + "In addition, purchase commitments to spend approximately $540 for additional plant and equipment are included in the unconditional purchase obligations in 2016.", + "We also purchase materials, energy, capital equipment, supplies, and services as part of the ordinary course of business under arrangements that are not unconditional purchase obligations.", + "The majority of such purchases are for raw materials and energy, which are obtained under requirements-type contracts at market prices.", + "Obligation for Future Contribution to an Equity Affiliate On 19 April 2015, a joint venture between Air Products and ACWA Holding entered into a 20-year oxygen and nitrogen supply agreement to supply Saudi Aramco\u2019s oil refinery and power plant being built in Jazan, Saudi Arabia.", + "Air Products owns 25% of the joint venture and guarantees the repayment of its share of an equity bridge loan.", + "In total, we expect to invest approximately $100 in this joint venture.", + "As of 30 September 2015, we recorded a noncurrent liability of $67.5 for our obligation to make future equity contributions based on advances received by the joint venture under the loan.", + "Income Tax Liabilities Noncurrent deferred income tax liabilities as of 30 September 2015 were $903.3.", + "Tax liabilities related to unrecognized tax benefits as of 30 September 2015 were $97.5.", + "These tax liabilities were excluded from the Contractual Obligations table, as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws, tax rates, and our operating results.", + "In addition, there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities.", + "Refer to Note 23, Income Taxes, to the consolidated financial statements for additional information.", + "PENSION BENEFITS The Company sponsors defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees.", + "The principal defined benefit pension plans\u2014the U. S. salaried pension plan and the U. K. pension plan\u2014were closed to new participants in 2005 and were replaced with defined contribution plans.", + "Over the long run, the shift to defined contribution plans is expected to reduce volatility of both plan expense and contributions.", + "The fair market value of plan assets for our defined benefit pension plans as of the 30 September 2015 measurement date decreased to $3,916.4 from $4,114.6 at the end of fiscal year 2014.", + "The projected benefit obligation for these plans was $4,787.8 and $4,738.6 at the end of the fiscal years 2015 and 2014, respectively.", + "Refer to Note 16, Retirement Benefits, to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits.", + "Pension Expense", + "||2015|2014|2013|\n|Pension expense|$135.6|$135.9|$169.7|\n|Special terminations, settlements, and curtailments (included above)|35.2|5.8|19.8|\n|Weighted average discount rate|4.0%|4.6%|4.0%|\n|Weighted average expected rate of return on plan assets|7.4%|7.7%|7.7%|\n|Weighted average expected rate of compensation increase|3.5%|3.9%|3.8%|\n", + "2010 Annual Report 83 During 2008, $254 million aggregate principal value of debt was repurchased and $241 million notional amount of interest rate swaps related to the debt repurchases was terminated.", + "The following table summarizes the activity:", + "| Dollars in Millions| Principal Value| Repurchase Price| Gain on Repurchase| Swap Termination Proceeds|Other, Including Basis Adjustment for Terminated Swaps| Gain/ (Loss)|\n|5.875% Notes due 2036|$227|$201|$26|$32|$-3|$55|\n|6.88% Debentures due 2097|13|13|\u2014|\u2014|\u2014|\u2014|\n|7.15% Debentures due 2023|11|11|\u2014|2|\u2014|2|\n|5.25% Notes due 2013|3|3|\u2014|\u2014|\u2014|\u2014|\n|Total|$254|$228|$26|$34|$-3|$57|\n", + "For further discussion of interest rate swaps see Note 24 \u201cFinancial Instruments.", + "\u201d Interest payments, net of amounts related to interest rate swaps, were $178 million in 2010, $206 million in 2009 and $303 million in 2008.", + "The principal value of long-term debt obligations was $4,749 million at December 31, 2010 of which $597 million is due in 2013, and the remaining $4,152 million is due later than 2013.", + "The fair value of long-term debt was $5,861 million and $6,258 million at December 31, 2010 and 2009, respectively, and was estimated based upon the quoted market prices for the same or similar debt instruments.", + "The fair value of short-term borrowings approximates the carrying value due to the short maturities of the debt instruments.", + "A $2.0 billion five year revolving credit facility from a syndicate of lenders maturing in December 2011 is maintained.", + "The facility is extendable with the consent of the lenders and contains customary terms and conditions, including a financial covenant whereby the ratio of consolidated net debt to consolidated capital cannot exceed 50% at the end of each quarter.", + "The Company has been in compliance with this covenant since the inception of the facility.", + "There were no borrowings outstanding under the facility at December 31, 2010 and 2009.", + "At December 31, 2010, $178 million of financial guarantees were provided in the form of stand-by letters of credit and performance bonds.", + "The stand-by letters of credit are with insurance companies in support of third-party liability programs.", + "The performance bonds were issued to support a range of ongoing operating activities, including sale of products to hospitals and foreign ministries of health, bonds for customs, duties and value added tax and guarantees related to miscellaneous legal actions.", + "A significant majority of the outstanding financial guarantees will expire within the year and are not expected to be funded.", + "Note 24 FINANCIAL INSTRUMENTS Financial instruments include cash and cash equivalents, marketable securities, receivables, accounts payable, debt instruments and derivatives.", + "Due to their short term maturity, the carrying amount of receivables and accounts payable approximate fair value.", + "There is exposure to market risk due to changes in currency exchange rates and interest rates.", + "As a result, certain derivative financial instruments are used when available on a cost-effective basis to hedge the underlying economic exposure.", + "These instruments qualify as cash flow, net investment and fair value hedges upon meeting certain criteria, including effectiveness of offsetting hedged exposures.", + "Changes in fair value of derivatives that do not qualify for hedge accounting are recognized in earnings as they occur.", + "All financial instruments, including derivatives, are subject to counterparty credit risk which is considered as part of the overall fair value measurement.", + "Derivative financial instruments are not used for trading purposes.", + "Foreign currency forward contracts are used to manage cash flow exposures.", + "The primary net foreign currency exposures hedged are the Euro, Japanese yen, Canadian dollar, British pound, Australian dollar and Mexican peso.", + "Fixed-to-floating interest rate swaps are used as part of the interest rate risk management strategy.", + "These swaps qualify for fair-value hedge accounting treatment.", + "Certain net asset changes due to foreign exchange volatility are hedged through non-U.", + "S. dollar borrowings which qualify as a net investment hedge.", + "Derivative financial instruments present certain market and counterparty risks; however, concentration of counterparty risk is mitigated by limiting amounts with any individual counterparty and using banks worldwide with Standard & Poor's and Moody's long-term debt ratings of A or higher.", + "In addition, only conventional derivative financial instruments are utilized.", + "The consolidated financial statements would not be materially impacted if any counterparties failed to perform according to the terms of its agreement.", + "Currently, collateral or any other form of securitization is not required to be furnished by the counterparties to derivative financial instruments.", + "2010 Annual Report 27 We continue to maximize our operating cash flows with our working capital initiatives designed to improve working capital items that are most directly affected by changes in sales volume, such as receivables, inventories and accounts payable.", + "Those improvements are being driven by several actions including non-recourse factoring of non-US trade receivables, revised contractual payment terms with customers and vendors, enhanced collection processes and various supply chain initiatives designed to optimize inventory levels.", + "Progress in this area is monitored each period and is a component of our annual incentive plan.", + "The following summarizes certain working capital components expressed as a percentage of trailing twelve months\u2019 net sales.", + "| Dollars in Millions|December 31, 2010|% of Trailing Twelve Month Net Sales|December 31, 2009|% of Trailing Twelve Month Net Sales|\n|Net trade receivables|$1,985|10.2%|$1,897|10.1%|\n|Inventories|1,204|6.2%|1,413|7.5%|\n|Accounts payable|-1,983|-10.2%|-1,711|-9.1%|\n|Total|$1,206|6.2%|$1,599|8.5%|\n", + "During 2010, changes in operating assets and liabilities aggregated to a net cash outflow of $166 million including: ?", + "Cash outflows from receivables ($270 million) which are primarily attributed to increased sales; ?", + "Cash outflows from other operating assets and liabilities ($248 million) primarily related to pension funding in excess of current year expense ($370 million), partially offset by increased rebate and sales returns ($238 million) primarily due to the increase in Medicaid rebates which was effective January 1, 2010 and agencies\u2019 administrative delays in payments to managed care organizations; ?", + "Cash inflows from accounts payables ($315 million) which are primarily attributed to the timing of vendor and alliance payments; and ?", + "Cash inflows from inventories ($156 million) primarily related to the work down of inventory balances.", + "In 2009, changes in operating assets and liabilities aggregated to a net cash inflow of $42 million including: ?", + "Cash inflows from accounts payable ($472 million) primarily attributed to the timing of payments to vendors and alliances, as well as the impact of the working capital initiative discussed above; ?", + "Cash inflows from receivables ($227 million) primarily attributed to additional factoring of non-U.", + "S. trade receivables in Japan and Spain; ?", + "Cash inflows from deferred income ($135 million) mainly due to the milestone payments received from Pfizer ($150 million) and AstraZeneca ($150 million), partially offset by amortization; and ?", + "Cash outflows from other operating assets and liabilities ($932 million) primarily related to pension funding in excess of current year expense ($532 million), and a payment to Otsuka which is amortized as a reduction of net sales through the extension period ($400 million).", + "In 2008, changes in operating assets aggregated to a net cash inflow of $117 million including: ?", + "Cash inflows from income tax payable/receivable ($371 million) which includes the impact of the receipt of a $432 million tax refund, including interest, related to a prior year foreign tax credit carryback claim; ?", + "Cash inflows from accounts payables ($253 million) which are primarily attributed to the timing of vendor and alliance payments; ?", + "Cash inflows from inventory ($130 million) which is primarily attributed to the utilization of inventories which were built up in the prior year for new product launches and strategic builds for existing products launches including for new indications of Abilify; ?", + "Cash inflows from deferred income ($61 million) which are primarily due to receipt of upfront licensing and milestone payments from alliance partners; ?", + "Cash outflows from accounts receivables ($360 million) which are attributed to increased sales; and ?", + "Cash outflows from other operating assets and liabilities ($338 million) which are primarily due to net litigation related payments ($190 million) attributed to the settlement of certain pricing and sales litigation accrued in prior periods; pension funding in excess of current year expense ($120 million); and increase in non-current inventory ($112 million).", + "Investing Activities Net cash used in investing activities was $3.8 billion in 2010 including: ?", + "Net purchases of marketable securities ($2.6 billion); ?", + "Purchase of ZymoGenetics, Inc. ($829 million); and ?", + "Capital expenditures ($424 million)", + "Bristol-Myers Squibb 72 In May 2010, the Board of Directors authorized the repurchase of up to $3.0 billion of common stock.", + "Repurchases may be made either in the open market or through private transactions, including under repurchase plans established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.", + "The stock repurchase program does not have an expiration date but is expected to take place over the next few years.", + "It may be suspended or discontinued at any time.", + "During 2010, the Company repurchased 23 million shares at the average price of approximately $25.50 per share for an aggregate cost of $587 million which includes $1 million of transaction fees.", + "Note 21 PENSION, POSTRETIREMENT AND POSTEMPLOYMENT LIABILITIES The Company and certain of its subsidiaries sponsor defined benefit pension plans, defined contribution plans and termination indemnity plans for regular full-time employees.", + "The principal defined benefit pension plan is the Bristol-Myers Squibb Retirement Income Plan, which covers most U. S. employees and which represents approximately 70% of the consolidated pension plan assets and obligations.", + "The funding policy is to contribute amounts to fund past service liability .", + "Plan benefits are based primarily on the participant\u2019s years of credited service and final average compensation.", + "Plan assets consist principally of equity and fixed-income securities.", + "Comprehensive medical and group life benefits are provided for substantially all U. S. retirees who elect to participate in comprehensive medical and group life plans.", + "The medical plan is contributory.", + "Contributions are adjusted periodically and vary by date of retirement.", + "The life insurance plan is noncontributory.", + "Plan assets consist principally of equity and fixed-income securities.", + "Similar plans exist for employees in certain countries outside of the U. S. The net periodic benefit cost of defined benefit pension and postretirement benefit plans includes:", + "||Pension Benefits|Other Benefits|\n| Dollars in Millions|2010|2009|2008|2010|2009|2008|\n|Service cost \u2014 benefits earned during the year|$44|$178|$227|$6|$6|$7|\n|Interest cost on projected benefit obligation|347|381|389|30|37|38|\n|Expected return on plan assets|-453|-453|-469|-24|-19|-28|\n|Amortization of prior service cost/(benefit)|\u2014|4|10|-3|-3|-3|\n|Amortization of net actuarial loss|95|94|98|10|10|5|\n|Net periodic benefit cost|33|204|255|19|31|19|\n|Curtailments|5|24|1|\u2014|\u2014|-2|\n|Settlements|22|29|36|\u2014|\u2014|\u2014|\n|Special termination benefits|1|\u2014|14|\u2014|\u2014|2|\n|Total net periodic benefit cost|$61|$257|$306|$19|$31|$19|\n|Continuing operations|$61|$242|$256|$19|$28|$17|\n|Discontinued operations|\u2014|15|50|\u2014|3|2|\n|Total net periodic benefit cost|$61|$257|$306|$19|$31|$19|\n", + "The U. S. Retirement Income Plan and several other plans were amended during June 2009.", + "The amendments eliminate the crediting of future benefits relating to service effective December 31, 2009.", + "Salary increases will continue to be considered for an additional five-year period in determining the benefit obligation related to prior service.", + "The plan amendments were accounted for as a curtailment.", + "As a result, the applicable plan assets and obligations were remeasured.", + "The remeasurement resulted in a $455 million reduction to accumulated OCI ($295 million net of taxes) and a corresponding decrease to the unfunded status of the plan due to the curtailment, updated plan asset valuations and a change in the discount rate from 7.0% to 7.5%.", + "A curtailment charge of $25 million was also recognized in other (income)/expense during the second quarter of 2009 for the remaining amount of unrecognized prior service cost.", + "In addition, all participants were reclassified as inactive for benefit plan purposes and actuarial gains and losses will be amortized over the expected weighted-average remaining lives of plan participants (32 years).", + "In connection with the plan amendment, contributions to principal defined contribution plans in the U. S. and Puerto Rico increased effective January 1, 2010.", + "The net impact of the above actions is expected to reduce the future retiree benefit costs, although future costs will continue to be subject to market conditions and other factors including actual and expected plan asset performance, interest rate fluctuations and lump-sum benefit payments.", + "In 2009, certain plan assets and related obligations were transferred from the U. S. Retirement Income Plan and several other plans to new plans sponsored by Mead Johnson for active Mead Johnson participants resulting in a $170 million reduction to accumulated OCI ($110 million net of taxes) in the first quarter of 2009 and a corresponding decrease to the unfunded status of the plan due to updated plan asset valuations and a change in the discount rate from 6.5% to 7.0%." + ], + "question_id": "simplong-test-58", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Active in the range of 100000 and 500000 in 2015? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Contractual Obligations and Commercial Commitments The following table (in thousands) summarizes our contractual obligations at March 31, 2007 and the effects such obligations are expected to have on our liquidity and cash flows in future periods.", + "||Payments Due By Fiscal Year|\n|Contractual Obligations|Total|Less than 1 Year|1-3 Years|3-5 Years|More than 5 Years|\n|Operating Lease Obligations|$7,669|$1,960|$3,441|$1,652|$616|\n|Purchase Obligations|6,421|6,421|\u2014|\u2014|\u2014|\n|Total Obligations|$14,090|$8,381|$3,441|$1,652|$616|\n", + "We have no long-term debt, capital leases or material commitments at March 31, 2007 other than those shown in the table above.", + "In May 2005, we acquired all the shares of outstanding capital stock of Impella CardioSystems AG, a company headquartered in Aachen, Germany.", + "The aggregate purchase price excluding a contingent payment in the amount of $5.6 million made on January 30, 2007 in the form of common stock, was approximately $45.1 million, which consisted of $42.2 million of our common stock, $1.6 million of cash paid to certain former shareholders of Impella, and $1.3 million of transaction costs, consisting primarily of fees paid for financial advisory and legal services.", + "We may make additional contingent payments to Impella\u2019s former shareholders based on additional milestone payments related to FDA approvals in the amount of up to $11.2 million.", + "These contingent payments may be made in a combination of cash or stock under circumstances described in the purchase agreement.", + "If any contingent payments are made, they will result in an increase to the carrying value of goodwill.", + "We apply the disclosure provisions of FIN No.45, Guarantor\u2019s Accounting and Disclosure Requirements for Guarantees, Including Guarantees of Indebtedness of Others, and Interpretation of FASB Statements No.5, 57 and 107 and Rescission of FASB Interpretation No.34 (FIN No.45) to our agreements that contain guarantee or indemnification clauses.", + "These disclosure provisions expand those required by SFAS No.5 by requiring that guarantors disclose certain types of guarantees, even if the likelihood of requiring the guarantor\u2019s performance is remote.", + "The following is a description of arrangements in which we are a guarantor.", + "We enter into agreements with other companies in the ordinary course of business, typically with underwriters, contractors, clinical sites and customers that include indemnification provisions.", + "Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities.", + "These indemnification provisions generally survive termination of the underlying agreement.", + "The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited.", + "We have never incurred any material costs to defend lawsuits or settle claims related to these indemnification agreements.", + "As a result, the estimated fair value of these agreements is minimal.", + "Accordingly, we have no liabilities recorded for these agreements as of March 31, 2007.", + "Clinical study agreements \u2013 In our clinical study agreements, we have agreed to indemnify the participating institutions against losses incurred by them for claims related to any personal injury of subjects taking part in the study to the extent they relate to use of our devices in accordance with the clinical study agreement, the protocol for the device and our instructions.", + "The indemnification provisions contained within our clinical study agreements do not generally include limits on the claims.", + "We have never incurred any material costs related to the indemnification provisions contained in our clinical study agreements.", + "Product warranties\u2014We routinely accrue for estimated future warranty costs on our product sales at the time of shipment.", + "All of our products are subject to rigorous regulation and quality standards.", + "While we engage in extensive product quality programs and processes, including monitoring and evaluating the quality of our component suppliers, our warranty obligations are affected by product failure rates.", + "Our operating results could be adversely affected if the actual cost of product failures exceeds the estimated warranty provision.", + "Patent indemnifications\u2014In many sales transactions, we indemnify customers against possible claims of patent infringement caused by our products.", + "The indemnifications contained within sales contracts usually do not include limits on the claims.", + "We have never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions.", + "Under the provisions of FIN No.45, intellectual property indemnifications require disclosure only.", + "iShares iShares is the leading ETF provider in the world, with $1.3 trillion of AUM at December 31, 2016 and was the top asset gatherer globally in 20161 with record net inflows of $140.5 billion resulting in an organic growth rate of 13%.", + "Equity net inflows of $74.9 billion were driven by flows into the Core range and into funds with U. S. and broad developed market equity exposures.", + "Record fixed income net inflows of $59.9 billion were diversified across exposures and product lines, led by flows into the Core range, corporate and high yield bond funds.", + "iShares multi-asset and alternatives funds contributed a combined $5.7 billion of net inflows, primarily into commodities funds.", + "iShares represented 27% of long-term AUM at December 31, 2016 and 36% of long-term base fees for 2016.", + "Component changes in iShares AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Netinflows|Marketchange|FX impact|December 31,2016|\n|Equity|$823,156|$74,914|$56,469|$-3,287|$951,252|\n|Fixed income|254,190|59,913|3,782|-3,178|314,707|\n|Multi-asset|2,730|354|61|4|3,149|\n|Alternatives-1|12,485|5,298|1,055|-67|18,771|\n|Total|$1,092,561|$140,479|$61,367|$-6,528|$1,287,879|\n", + "(1) Amounts include commodity iShares.", + "Our broad iShares product range offers investors a precise, transparent and efficient way to tap market returns and gain access to a full range of asset classes and global markets that have been difficult for many investors to access, as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently. ?", + "U. S. iShares AUM ended 2016 at $967.3 billion with $106.9 billion of net inflows driven by strong demand for the Core range and U. S. and broad developed market equities as well as a diverse range of fixed income products.2 In 2016, we saw increased investor focus on risk-aware, \u201csmart beta\u201d products, which saw $20.2 billion of net inflows. ?", + "International iShares AUM ended 2016 at $320.5 billion with net inflows of $33.6 billion led by fixed income net inflows of $21.9 billion, diversified across high yield, emerging market and investment grade corporate bond funds.2 Our international Core ranges in Canada and Europe demonstrated solid results in their third year, raising a combined $11.6 billion in net inflows as we continue to expand our international presence among buy-and-hold investors.", + "Institutional BlackRock\u2019s institutional AUM is well diversified by both product and region, and we serve institutional investors on six continents in sub-categories including: pensions, endowments and foundations, official institutions, and financial institutions.", + "Component changes in Institutional long-term AUM for 2016 are presented below.", + "|(in millions)|December 31,2015|Net inflows (outflows)|Marketchange|FX impact|December 31,2016|\n|Active:||||||\n|Equity|$121,442|$-7,449|$11,112|$-4,406|$120,699|\n|Fixed income|514,428|10,234|20,242|-8,177|536,727|\n|Multi-asset|252,041|13,322|18,516|-6,946|276,933|\n|Alternatives|74,941|1,811|619|-1,756|75,615|\n|Active subtotal|962,852|17,918|50,489|-21,285|1,009,974|\n|Index:||||||\n|Equity|1,285,419|-8,612|135,997|-23,800|1,389,004|\n|Fixed income|441,097|41,401|55,665|-39,488|498,675|\n|Multi-asset|6,258|-82|843|-91|6,928|\n|Alternatives|6,003|784|790|-503|7,074|\n|Index subtotal|1,738,777|33,491|193,295|-63,882|1,901,681|\n|Total|$2,701,629|$51,409|$243,784|$-85,167|$2,911,655|\n", + "From an enterprise risk management perspective, management sets limits on the levels of catastrophe loss exposure the Company may underwrite.", + "The limits are revised periodically based on a variety of factors, including but not limited to the Company\u2019s financial resources and expected earnings and risk/reward analyses of the business being underwritten.", + "The Company may purchase reinsurance to cover specific business written or the potential accumulation or aggregation of exposures across some or all of its operations.", + "Reinsurance purchasing decisions consider both the potential coverage and market conditions including the pricing, terms, conditions, availability and collectability of coverage, with the aim of securing cost effective protection from financially secure counterparties.", + "The amount of reinsurance purchased has varied over time, reflecting the Company\u2019s view of its exposures and the cost of reinsurance.", + "Management estimates that the projected net economic loss from its largest 100-year event in a given zone represents approximately 10% of its December 31, 2018 shareholders\u2019 equity.", + "Economic loss is the PML exposure, net of third party reinsurance, reduced by estimated reinstatement premiums to renew coverage and estimated income taxes.", + "The impact of income taxes on the PML depends on the distribution of the losses by corporate entity, which is also affected by inter-affiliate reinsurance.", + "Management also monitors and controls its largest PMLs at multiple points along the loss distribution curve, such as loss amounts at the 20, 50, 100, 250, 500 and 1,000 year return periods.", + "This process enables management to identify and control exposure accumulations and to integrate such exposures into enterprise risk, underwriting and capital management decisions.", + "The Company\u2019s catastrophe loss projections, segmented by risk zones, are updated quarterly and reviewed as part of a formal risk management review process.", + "The table below reflects the Company\u2019s PML exposure, net of third party reinsurance at various return periods for its top three zones/perils (as ranked by the largest 1 in 100 year economic loss) based on loss projection data as of January 1, 2019, adjusted to reflect Industry Loss Warranty (ILW) purchases at the same level the Company had available during 2018.", + "|Return Periods (in years)|1 in 20|1 in 50|1 in 100||1 in 250|1 in 500|1 in 1,000|\n|Exceeding Probability|5.0%|2.0%|1.0%|0.4%|0.2%|0.1%|\n|(Dollars in millions)||||||||\n|Zone/ Peril||||||||\n|Southeast U.S., Wind|$639|$888|$1,036||$1,315|$1,583|$2,444|\n|California, Earthquake|136|470|781||1,132|1,302|1,571|\n|Texas, Wind|158|467|769||1,077|1,152|1,236|\n", + "The projected net economic losses, defined as PML exposures, net of third party reinsurance, reinstatement premiums and estimated income taxes, for the top three zones/perils scheduled above are as follows:" + ], + "question_id": "simplong-test-59", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "by what percentage did the amount of claims as of sept 30 , 2007 decrease to equal the combined claims september 30 of 2009-2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 14.", + "Significant Transactions \u0010 (Continued) The issuance price of the common units exceeded the Company\u2019s carrying amount, resulting in a pretax gain of approximately $133.1 million.", + "In accordance with SEC Staff Accounting Bulletin No.51, \u201cAccounting for Sales of Stock by a Subsidiary,\u201d recognition of a gain is only appropriate if the class of securities sold by the subsidiary does not contain any preference over the subsidiary\u2019s other classes of securities.", + "As a result, the Company will defer gain recognition until the subordinated units are converted into common units.", + "Boardwalk Pipeline used the net proceeds of approximately $271.4 million to fund the repayment of its intercompany debt ($250.0 million) relating to the acquisition of Gulf South and to provide additional working capital.", + "Acquisitions The Company, through its subsidiary Boardwalk Pipelines, LLC acquired Gulf South Pipeline, LP (\u201cGulf South\u201d) from Entergy-Koch, LP, a venture between Entergy Corporation and Koch Energy, Inc. , a subsidiary of privately\u0002owned Koch Industries, Inc. , in December of 2004.", + "The Company funded the $1.14 billion purchase price, including transaction costs and closing adjustments, with $575.0 million of proceeds from an interim loan and the remaining approximately $561.0 million from its available cash.", + "In January of 2005, Boardwalk Pipelines, LLC and Gulf South issued long-term debt and used the proceeds to repay the $575.0 million interim loan.", + "See Note 12.", + "Gulf South owns and operates a 7,570-mile interstate natural gas pipeline and storage system located in the states of Texas, Louisiana, Mississippi, Alabama and Florida.", + "The Gulf South pipeline system is comprised of the interstate transmission pipeline and 80.0 billion cubic feet (\u201cBcf\u201d) of working gas storage capacity.", + "In May of 2003, Boardwalk Pipelines, LLC acquired Texas Gas from The Williams Companies, Inc. (\u201cWilliams\u201d).", + "The transaction value was approximately $1.05 billion, which included $250.0 million of existing Texas Gas debt.", + "The results of Texas Gas have been included in the Consolidated Financial Statements from the date of acquisition.", + "The Company funded the approximately $803.3 million balance of the purchase price, including transaction costs and closing adjustments, with $528.3 million of its available cash and $275.0 million of proceeds from an interim loan incurred by Texas Gas immediately after the acquisition.", + "Upon completion of the acquisition, Boardwalk Pipelines, LLC issued $185.0 million of 5.2% Notes due 2018 and Texas Gas issued $250.0 million of 4.6% Notes due 2015.", + "The net offering proceeds of approximately $431.0 million were used to repay the $275.0 million interim loan and to retire approximately $132.7 million principal amount of Texas Gas\u2019s existing $150.0 million of 8.625% Notes due 2004 and to pay related tender premiums.", + "In March of 2004, Texas Gas retired the remaining $17.3 million principal amount of its 8.625% Notes upon final maturity.", + "Texas Gas used its existing cash balances to fund this maturity.", + "Boardwalk Pipelines, LLC was converted to a limited partnership in November 2005 and is now known as Boardwalk Pipelines, LP.", + "Texas Gas owns and operates a 5,900-mile natural gas pipeline system that transports natural gas originating in the Louisiana Gulf Coast and East Texas and running north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, Indiana and into Ohio, with smaller diameter lines extending into Illinois.", + "Texas Gas currently has a delivery capacity of 2.8 Bcf per day and a working storage capacity of 63.0 Bcf.", + "The allocation of purchase price to the assets and liabilities acquired was as follows:", + "||Gulf South|Texas Gas|\n|(In millions)|||\n|Current assets|$77.4|$81.6|\n|Property, plant and equipment|1,159.0|691.4|\n|Goodwill||169.3|\n|Other non-current assets|28.3|243.9|\n|Current liabilities|-108.7|-58.9|\n|Short-term debt||-149.8|\n|Long-term debt||-99.2|\n|Other liabilities and deferred credits|-34.8|-74.6|\n||$1,121.2|$803.7|\n", + "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\u0002lien 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 (\u201crescission rate\u201d), 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 2012|September 30 2012|June 30 2012|March 31 2012|December 312011|\n|2004 & Prior|$11|$15|$31|$10|$11|\n|2005|8|10|19|12|13|\n|2006|23|30|56|41|28|\n|2007|45|137|182|100|90|\n|2008|7|23|49|17|18|\n|2008 & Prior|94|215|337|180|160|\n|2009 \u2013 2012|38|52|42|33|29|\n|Total|$132|$267|$379|$213|$189|\n|FNMA, FHLMC, and GNMA %|94%|87%|86%|88%|91%|\n", + "CONSOLIDATED INCOME STATEMENT REVIEW Our Consolidated Income Statement is presented in Item 8 of this Report.", + "Net income for 2017 was $5.4 billion, or $10.36 per diluted common share, an increase of 35% compared with $4.0 billion, or $7.30 per diluted common share, for 2016.", + "Higher net income was driven by an 8% increase in total revenue and a tax benefit from the new federal tax legislation, partially offset by a 10% increase in noninterest expense.", + "Revenue growth resulted from a 9% increase in net interest income and a 7% increase in noninterest income.", + "Net Interest Income Table 1: Summarized Average Balances and Net Interest Income (a)", + "||2017|2016|\n|Year Ended December 31Dollars in millions|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|\n|Assets|||||||\n|Interest-earning assets|||||||\n|Investment securities|$75,057|2.74%|$2,059|$72,046|2.62%|$1,889|\n|Loans|217,271|3.86%|8,390|208,817|3.61%|7,543|\n|Interest-earning deposits with banks|24,043|1.11%|267|26,328|.52%|136|\n|Other|8,983|3.48%|313|7,843|3.56%|279|\n|Total interest-earning assets/interest income|$325,354|3.39%|11,029|$315,034|3.13%|9,847|\n|Liabilities|||||||\n|Interest-bearing liabilities|||||||\n|Interest-bearing deposits|$179,447|.35%|623|$172,764|.25%|430|\n|Borrowed funds|56,889|1.90%|1,083|52,939|1.57%|831|\n|Total interest-bearing liabilities/interest expense|$236,336|.72%|1,706|$225,703|.56%|1,261|\n|Net interest income/margin (Non-GAAP)||2.87%|9,323||2.73%|8,586|\n|Taxable-equivalent adjustments|||-215|||-195|\n|Net interest income (GAAP)|||$9,108|||$8,391|\n", + "(a) Interest income calculated as taxable-equivalent interest income.", + "To provide more meaningful comparisons of interest income and yields for all interest-earning assets, as well as net interest margins, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under GAAP on the Consolidated Income Statement.", + "For more information, see Reconciliation of Taxable-Equivalent Net Interest Income in the Statistical Information (Unaudited) section in Item 8 of this Report.", + "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) \u2013 Average Consolidated Balance Sheet And Net Interest Analysis and Analysis Of Year-To-Year Changes In Net Interest Income in Item 8 of this Report.", + "Net interest income increased $717 million, or 9%, in 2017 compared with 2016 due to increases in loan and securities balances and yields, partially offset by an increase in borrowing and deposit costs.", + "Net interest margin increased largely reflecting the benefit to loans and securities yields from higher interest rates in 2017.", + "Average investment securities increased $3.0 billion, or 4%, reflecting net purchases of U. S. Treasury and government agency securities of $2.9 billion and agency residential mortgage-backed securities of $2.8 billion, partially offset by declines in average commercial mortgage-backed securities of $1.6 billion and non-agency residential mortgage-backed securities of $.8 billion.", + "Total investment securities were 23% of average interest-earning assets in both 2017 and 2016.", + "Average loans grew by $8.5 billion, or 4%, reflecting an increase in average commercial lending of $8.4 billion driven by broad-based growth in our Corporate Banking, Real Estate, Equipment Finance and Business Credit businesses in our Commercial & Institutional Banking segment.", + "Growth in Equipment Finance included the impact of the acquisition of a commercial and vendor finance business with $1.0 billion of loans and leases in the second quarter of 2017.", + "Average consumer lending increased $.1 billion in the comparison, as growth in average residential real estate, automobile and credit card loans was substantially offset by declines in average home equity and education loans.", + "These declines reflected run-off in the non-strategic consumer loan portfolios of brokered home equity and government guaranteed education loans.", + "Average loans represented 67% of average interest\u0002earning assets in 2017 compared to 66% in 2016.", + "Average total deposits increased $7.2 billion, or 3%, primarily due to growth in average interest-bearing deposits of $6.7 billion, or 4%, driven by higher average savings deposits of $13.1 billion.", + "This increase reflected a shift, in part, to relationship-based savings products from money market deposits, which decreased $9.2 billion.", + "Additionally, average interest-bearing demand deposits grew $4.3 billion, mainly" + ], + "question_id": "simplong-test-60", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Services, what's the increasing rate of Hardware ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "McKESSON CORPORATION FINANCIAL REVIEW (Continued)", + "|| Years Ended March 31,| Change|\n| (Dollars in millions) | 2012| 2011| 2010| 2012| 2011|\n|Distribution Solutions||||||\n|Direct distribution & services|$85,523|$77,554|$72,210|10%|7%|\n|Sales to customers\u2019 warehouses|20,453|18,631|21,435|10|-13|\n|Total U.S. pharmaceutical distribution & services|105,976|96,185|93,645|10|3|\n|Canada pharmaceutical distribution & services|10,303|9,784|9,072|5|8|\n|Medical-Surgical distribution & services|3,145|2,920|2,861|8|2|\n|Total Distribution Solutions|119,424|108,889|105,578|10|3|\n|Technology Solutions||||||\n|Services|2,594|2,483|2,439|4|2|\n|Software & software systems|596|590|571|1|3|\n|Hardware|120|122|114|-2|7|\n|Total Technology Solutions|3,310|3,195|3,124|4|2|\n|Total Revenues|$122,734|$112,084|$108,702|10|3|\n", + "Revenues increased 10% to $122.7 billion in 2012 and 3% to $112.1 billion in 2011.", + "The increase in revenues in each year primarily reflects market growth in our Distribution Solutions segment, which accounted for approximately 97% of our consolidated revenues, and our acquisition of US Oncology.", + "Direct distribution and services revenues increased in 2012 compared to 2011 primarily due to market growth, which includes growing drug utilization and price increases, and from our acquisition of US Oncology.", + "These increases were partially offset by price deflation associated with brand to generic drug conversions.", + "Direct distribution and services revenues increased in 2011 compared to 2010 primarily due to market growth, the effect of a shift of revenues from sales to customers\u2019 warehouses to direct store delivery, the lapping of which was completed in the third quarter of 2011, and due to our acquisition of US Oncology.", + "These increases were partially offset by a decline in demand associated with the flu season and the impact of price deflation associated with brand to generic drug conversions.", + "Sales to customers\u2019 warehouses for 2012 increased compared to 2011 primarily due to a new customer and new business with existing customers.", + "Sales to customers\u2019 warehouses for 2011 decreased compared to 2010 primarily reflecting reduced revenues associated with existing customers, the effect of a shift of revenues to direct store delivery, the lapping of which was completed in the third quarter of 2011, and the impact of price deflation associated with brand to generic drug conversions.", + "Sales to retail customers\u2019 warehouses represent large volume sales of pharmaceuticals primarily to a limited number of large self-warehousing retail chain customers whereby we order bulk product from the manufacturer, receive and process the product through our central distribution facility and subsequently deliver the bulk product (generally in the same form as received from the manufacturer) directly to our customers\u2019 warehouses.", + "This distribution method is typically not marketed or sold by the Company as a stand-alone service; rather, it is offered as an additional distribution method for our large retail chain customers that have an internal self-warehousing distribution network.", + "Sales to customers\u2019 warehouses provide a benefit to these customers because they can utilize the Company as one source for both their direct-to-store business and their warehouse business.", + "We generally have significantly lower gross profit margins on sales to customers\u2019 warehouses as we pass much of the efficiency of this low cost-to-serve model on to the customer.", + "These sales do, however, contribute to our gross profit dollars.", + "McKESSON CORPORATION FINANCIAL NOTES (Continued) Expected benefit payments, including assumed executive lump sum payments, for our pension plans are as follows: $180 million, $64 million, $64 million, $62 million and $62 million for 2020 to 2024 and $327 million for 2025 through 2029.", + "Expected benefit payments are based on the same assumptions used to measure the benefit obligations and include estimated future employee service.", + "Expected contributions to be made for our pension plans are $146 million for 2020.", + "Weighted-average assumptions used to estimate the net periodic pension expense and the actuarial present value of benefit obligations were as follows:", + "||U.S. Plans Years Ended March 31,|Non-U.S. Plans Years Ended March 31,|\n||2019|2018|2017|2019|2018|2017|\n|Net periodic pension expense|||||||\n|Discount rates|3.83%|3.55%|3.40%|2.35%|2.34%|2.72%|\n|Rate of increase in compensation|N/A -1|4.00|4.00|3.13|2.72|2.76|\n|Expected long-term rate of return on plan assets|5.25|6.25|6.25|3.71|4.03|4.51|\n|Benefit obligation|||||||\n|Discount rates|3.65%|3.69%|3.39%|2.13%|2.35%|2.35%|\n|Rate of increase in compensation|N/A -1|N/A -1|4.00|3.18|2.59|3.18|\n", + "(1) This assumption is no longer needed in actuarial valuations as U. S. plans are frozen or have fixed benefits for the remaining active participants.", + "Our defined benefit pension plan liabilities are valued using a discount rate based on a yield curve developed from a portfolio of high quality corporate bonds rated AA or better whose maturities are aligned with the expected benefit payments of our plans.", + "For March 31, 2019, our U. S. defined benefit liabilities are valued using a weighted average discount rate of 3.65%, which represents a decrease of 4 basis points from our 2018 weighted-average discount rate of 3.69%.", + "Our non-U.", + "S. defined benefit pension plan liabilities are valued using a weighted-average discount rate of 2.13%, which represents a decrease of 22 basis points from our 2018 weighted average discount rate of 2.35%.", + "Plan Assets Investment Strategy: The overall objective for U. S. pension plan assets has been to generate long-term investment returns consistent with capital preservation and prudent investment practices, with a diversification of asset types and investment strategies.", + "Periodic adjustments were made to provide liquidity for benefit payments and to rebalance plan assets to their target allocations.", + "In September 2018, a new investment allocation strategy was put in place to protect the funded status of the U. S. plan assets subsequent to Board approval of U. S. pension plan termination.", + "The target allocation for U. S. plan assets at March 31, 2019 is 100% fixed income investments including cash and cash equivalents.", + "The target allocations for U. S. plan assets at March 31, 2018 were 26% equity investments, 70% fixed income investments including cash and cash equivalents and 4% real estate.", + "Equity investments include common stock, preferred stock, and equity commingled funds.", + "Fixed income investments include corporate bonds, government securities, mortgage-backed securities, asset-backed securities, other directly held fixed income investments, and fixed income commingled funds.", + "The real estate investments are in a commingled real estate fund.", + "Year Ended December 31, 2010 Compared to Year Ended December 31, 2009 Net revenues increased $207.5 million, or 24.2%, to $1,063.9 million in 2010 from $856.4 million in 2009.", + "Net revenues by product category are summarized below:", + "||Year Ended December 31,|\n|(In thousands)|2010|2009|$ Change|% Change|\n|Apparel|$853,493|$651,779|$201,714|30.9%|\n|Footwear|127,175|136,224|-9,049|-6.6|\n|Accessories|43,882|35,077|8,805|25.1|\n|Total net sales|1,024,550|823,080|201,470|24.5|\n|License revenues|39,377|33,331|6,046|18.1|\n|Total net revenues|$1,063,927|$856,411|$207,516|24.2%|\n", + "Net sales increased $201.5 million, or 24.5%, to $1,024.6 million in 2010 from $823.1 million in 2009 as noted in the table above.", + "The increase in net sales primarily reflects: ?", + "$88.9 million, or 56.8%, increase in direct to consumer sales, which includes 19 additional stores in 2010; and ?", + "unit growth driven by increased distribution and new offerings in multiple product categories, most significantly in our training, base layer, mountain, golf and underwear categories; partially offset by ?", + "$9.0 million decrease in footwear sales driven primarily by a decline in running and training footwear sales.", + "License revenues increased $6.1 million, or 18.1%, to $39.4 million in 2010 from $33.3 million in 2009.", + "This increase in license revenues was primarily a result of increased sales by our licensees due to increased distribution and continued unit volume growth.", + "We have developed our own headwear and bags, and beginning in 2011, these products are being sold by us rather than by one of our licensees.", + "Gross profit increased $120.4 million to $530.5 million in 2010 from $410.1 million in 2009.", + "Gross profit as a percentage of net revenues, or gross margin, increased 200 basis points to 49.9% in 2010 compared to 47.9% in 2009.", + "The increase in gross margin percentage was primarily driven by the following: ?", + "approximate 100 basis point increase driven by increased direct to consumer higher margin sales; ?", + "approximate 50 basis point increase driven by decreased sales markdowns and returns, primarily due to improved sell-through rates at retail; and ?", + "approximate 50 basis point increase driven primarily by liquidation sales and related inventory reserve reversals.", + "The current year period benefited from reversals of inventory reserves established in the prior year relative to certain cleated footwear, sport specific apparel and gloves.", + "These products have historically been more difficult to liquidate at favorable prices.", + "Selling, general and administrative expenses increased $93.3 million to $418.2 million in 2010 from $324.9 million in 2009.", + "As a percentage of net revenues, selling, general and administrative expenses increased to 39.3% in 2010 from 37.9% in 2009.", + "These changes were primarily attributable to the following: ?", + "Marketing costs increased $19.3 million to $128.2 million in 2010 from $108.9 million in 2009 primarily due to an increase in sponsorship of events and collegiate and professional teams and athletes, increased television and digital campaign costs, including media campaigns for specific customers and additional personnel costs.", + "In addition, we incurred increased expenses for our performance incentive plan as compared to the prior year.", + "As a percentage of net revenues, marketing costs decreased to 12.0% in 2010 from 12.7% in 2009 primarily due to decreased marketing costs for specific customers." + ], + "question_id": "simplong-test-61", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Total costs and expenses in the year with the most Total revenue?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ECHOSTAR COMMUNICATIONS CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-34 closing price of the class A common stock on the last business day of each calendar quarter in which such shares of class A common stock are deemed sold to an employee under the ESPP.", + "The ESPP shall terminate upon the first to occur of (i) October 1, 2007 or (ii) the date on which the ESPP is terminated by the Board of Directors.", + "During 2000, 2001 and 2002 employees purchased approximately 58,000; 80,000 and 108,000 shares of class A common stock through the ESPP, respectively.401(k) Employee Savings Plan EchoStar sponsors a 401(k) Employee Savings Plan (the \u201c401(k) Plan\u201d) for eligible employees.", + "Voluntary employee contributions to the 401(k) Plan may be matched 50% by EchoStar, subject to a maximum annual contribution by EchoStar of $1,000 per employee.", + "Matching 401(k) contributions totaled approximately $1.6 million, $2.1 million and $2.4 million during the years ended December 31, 2000, 2001 and 2002, respectively.", + "EchoStar also may make an annual discretionary contribution to the plan with approval by EchoStar\u2019s Board of Directors, subject to the maximum deductible limit provided by the Internal Revenue Code of 1986, as amended.", + "These contributions may be made in cash or in EchoStar stock.", + "Forfeitures of unvested participant balances which are retained by the 401(k) Plan may be used to fund matching and discretionary contributions.", + "Expense recognized relating to discretionary contributions was approximately $7 million, $225 thousand and $17 million during the years ended December 31, 2000, 2001 and 2002, respectively.9.", + "Commitments and Contingencies Leases Future minimum lease payments under noncancelable operating leases as of December 31, 2002, are as follows (in thousands):", + "|2003|$17,274|\n|2004|14,424|\n|2005|11,285|\n|2006|7,698|\n|2007|3,668|\n|Thereafter|1,650|\n|Total minimum lease payments|55,999|\n", + "Total rent expense for operating leases approximated $9 million, $14 million and $16 million in 2000, 2001 and 2002, respectively.", + "Purchase Commitments As of December 31, 2002, EchoStar\u2019s purchase commitments totaled approximately $359 million.", + "The majority of these commitments relate to EchoStar receiver systems and related components.", + "All of the purchases related to these commitments are expected to be made during 2003.", + "EchoStar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations.", + "Patents and Intellectual Property Many entities, including some of EchoStar\u2019s competitors, now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that EchoStar offers.", + "EchoStar may not be aware of all patents and other intellectual property rights that its products may potentially infringe.", + "Damages in patent infringement cases can include a tripling of actual damages in certain cases.", + "Further, EchoStar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 52 Tivo litigation expense.", + "We recorded $361 million of \u201cTivo litigation expense\u201d during the year ended December 31, 2009 for supplemental damages, contempt sanctions and interest.", + "See Note 14 in the Notes to the Consolidated Financial Statements in Item 15 of this Annual Report on Form 10-K for further discussion.", + "Depreciation and amortization.", + "\u201cDepreciation and amortization\u201d expense totaled $940 million during the year ended December 31, 2009, a $60 million or 6.0% decrease compared to the same period in 2008.", + "The decrease in \u201cDepreciation and amortization\u201d expense was primarily due to the declines in depreciation expense related to set-top boxes used in our lease programs and the abandonment of a software development project during 2008 that was designed to support our IT systems.", + "The decrease related to set-top-boxes was primarily attributable to capitalization of a higher mix of new advanced equipment in 2009 compared to the same period in 2008, which has a longer estimated useful life.", + "In addition, the satellite depreciation expense declined due to the retirements of certain satellites from commercial service, almost entirely offset by depreciation expense associated with satellites placed in service in 2008.", + "Interest income.", + "\u201cInterest income\u201d totaled $30 million during the year ended December 31, 2009, a decrease of $21 million or 41.4% compared to the same period in 2008.", + "This decrease principally resulted from lower percentage returns earned on our cash and marketable investment securities, partially offset by higher average cash and marketable investment securities balances during the year ended December 31, 2009.", + "Interest expense, net of amounts capitalized.", + "\u201cInterest expense, net of amounts capitalized\u201d totaled $388 million during the year ended December 31, 2009, an increase of $19 million or 5.0% compared to the same period in 2008.", + "This change primarily resulted from an increase in interest expense related to the issuance of debt during 2009 and 2008 and the Ciel II capital lease, partially offset by a decrease in interest expense associated with 2008 debt redemptions.", + "Other, net.", + "\u201cOther, net\u201d expense totaled $16 million during the year ended December 31, 2009 compared to $169 million in 2008, a decrease of $153 million.", + "This decrease primarily resulted from $178 million less in impairment charges on marketable and other investment securities, partially offset by $33 million less in net gains on the sale and exchanges of investments in 2009 compared to 2008.", + "Earnings before interest, taxes, depreciation and amortization.", + "EBITDA was $2.311 billion during the year ended December 31, 2009, a decrease of $576 million or 20.0% compared to the same period in 2008.", + "EBITDA for the year ended December 31, 2009 was negatively impacted by the $361 million \u201cTivo litigation expense.", + "\u201d The following table reconciles EBITDA to the accompanying financial statements.", + "|| For the Years Ended December 31,|\n|| 2009| 2008|\n||(In thousands)|\n|EBITDA|$2,311,398|$2,887,697|\n|Less:|||\n|Interest expense, net|358,391|318,661|\n|Income tax provision (benefit), net|377,429|665,859|\n|Depreciation and amortization|940,033|1,000,230|\n|Net income (loss) attributable to DISH Network common shareholders|$635,545|$902,947|\n", + "EBITDA is not a measure determined in accordance with accounting principles generally accepted in the United States, or GAAP, and should not be considered a substitute for operating income, net income or any other measure determined in accordance with GAAP.", + "EBITDA is used as a measurement of operating efficiency and overall financial performance and we believe it to be a helpful measure for those evaluating companies in the pay-TV industry.", + "Conceptually, EBITDA measures the amount of income generated each period that could be used to service debt, pay taxes and fund capital expenditures.", + "EBITDA should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.", + "Income tax (provision) benefit, net.", + "Our income tax provision was $377 million during the year ended December 31, 2009, a decrease of $288 million compared to the same period in 2008.", + "The decrease in the provision was primarily related to the decrease in \u201cIncome (loss) before income taxes\u201d and a decrease in our effective tax rate.", + "DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-28 9.", + "Acquisitions DBSD North America and TerreStar Transactions On March 2, 2012, the FCC approved the transfer of 40 MHz of AWS-4 wireless spectrum licenses held by DBSD North America and TerreStar to us.", + "On March 9, 2012, we completed the DBSD Transaction and the TerreStar Transaction, pursuant to which we acquired, among other things, certain satellite assets and wireless spectrum licenses held by DBSD North America and TerreStar.", + "In addition, during the fourth quarter 2011, we and Sprint entered into a mutual release and settlement agreement (the \u201cSprint Settlement Agreement\u201d) pursuant to which all issues then being disputed relating to the DBSD Transaction and the TerreStar Transaction were resolved between us and Sprint, including, but not limited to, issues relating to costs allegedly incurred by Sprint to relocate users from the spectrum then licensed to DBSD North America and TerreStar.", + "The total consideration to acquire the DBSD North America and TerreStar assets was approximately $2.860 billion.", + "This amount includes $1.364 billion for the DBSD Transaction, $1.382 billion for the TerreStar Transaction, and the net payment of $114 million to Sprint pursuant to the Sprint Settlement Agreement.", + "See Note 16 for further information.", + "As a result of these acquisitions, we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date, including $102 million in an uncertain tax position in \u201cLong-term deferred revenue, distribution and carriage payments and other long-term liabilities\u201d on our Consolidated Balance Sheets.", + "Subsequently, in the third quarter 2013, this uncertain tax position was resolved and $102 million was reversed and recorded as a decrease in \u201cIncome tax (provision) benefit, net\u201d on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2013.10.", + "Discontinued Operations As of December 31, 2013, Blockbuster had ceased all material operations.", + "Accordingly, our Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income (Loss) and Consolidated Statements of Cash Flows have been recast to present Blockbuster as discontinued operations for all periods presented and the amounts presented in the Notes to our Consolidated Financial Statements relate only to our continuing operations, unless otherwise noted.", + "During the years ended December 31, 2013, 2012 and 2011, the revenue from our discontinued operations was $503 million, $1.085 billion and $974 million, respectively.", + "\u201cIncome (loss) from discontinued operations, before income taxes\u201d for the same periods was a loss of $54 million, $62 million and $3 million, respectively.", + "In addition, \u201cIncome (loss) from discontinued operations, net of tax\u201d for the same periods was a loss of $47 million, $37 million and $7 million, respectively.", + "As of December 31, 2013, the net assets from our discontinued operations consisted of the following:", + "||As of December 31, 2013 (In thousands)|\n|Current assets from discontinued operations|$68,239|\n|Noncurrent assets from discontinued operations|9,965|\n|Current liabilities from discontinued operations|-49,471|\n|Long-term liabilities from discontinued operations|-19,804|\n|Net assets from discontinued operations|$8,929|\n", + "PART II Item 5.", + "MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Price of and Dividends on the Registrant\u2019s Common Equity and Related Stockholder Matters Market Information.", + "Our Class A common stock is quoted on the Nasdaq Global Select Market under the symbol \u201cDISH.", + "\u201d The high and low closing sale prices of our Class A common stock during 2014 and 2013 on the Nasdaq Global Select Market (as reported by Nasdaq) are set forth below.", + "|2014|High|Low|\n|First Quarter|$62.42|$54.10|\n|Second Quarter|65.64|56.23|\n|Third Quarter|66.71|61.87|\n|Fourth Quarter|79.41|57.96|\n|2013|High|Low|\n|First Quarter|$38.02|$34.19|\n|Second Quarter|42.52|36.24|\n|Third Quarter|48.09|41.66|\n|Fourth Quarter|57.92|45.68|\n", + "As of February 13, 2015, there were approximately 8,208 holders of record of our Class A common stock, not including stockholders who beneficially own Class A common stock held in nominee or street name.", + "As of February 10, 2015, 213,247,004 of the 238,435,208 outstanding shares of our Class B common stock were beneficially held by Charles W. Ergen, our Chairman, and the remaining 25,188,204 were held in trusts established by Mr. Ergen for the benefit of his family.", + "There is currently no trading market for our Class B common stock.", + "Dividends.", + "On December 28, 2012, we paid a cash dividend of $1.00 per share, or approximately $453 million, on our outstanding Class A and Class B common stock to stockholders of record at the close of business on December 14, 2012.", + "While we currently do not intend to declare additional dividends on our common stock, we may elect to do so from time to time.", + "Payment of any future dividends will depend upon our earnings and capital requirements, restrictions in our debt facilities, and other factors the Board of Directors considers appropriate.", + "We currently intend to retain our earnings, if any, to support future growth and expansion, although we may repurchase shares of our common stock from time to time.", + "See further discussion under \u201cItem 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Liquidity and Capital Resources\u201d in this Annual Report on Form 10-K. Securities Authorized for Issuance Under Equity Compensation Plans.", + "See \u201cItem 12.", + "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\u201d in this Annual Report on Form 10-K.", + "Item 6.", + "SELECTED FINANCIAL DATA The selected consolidated financial data as of and for each of the five years ended December 31, 2018 have been derived from our consolidated financial statements.", + "On February 28, 2017, we and EchoStar and certain of our respective subsidiaries completed the Share Exchange.", + "As the Share Exchange was a transaction between entities that are under common control accounting rules require that our Consolidated Financial Statements include the results of the Transferred Businesses for all periods presented, including periods prior to the completion of the Share Exchange.", + "We initially recorded the Transferred Businesses at EchoStar\u2019s historical cost basis.", + "The difference between the historical cost basis of the Transferred Businesses and the net carrying value of the Tracking Stock was recorded in \u201cAdditional paid-in capital\u201d on our Consolidated Balance Sheets.", + "The results of the Transferred Businesses were prepared from separate records maintained by EchoStar for the periods prior to March 1, 2017, and may not necessarily be indicative of the conditions that would have existed, or the results of operations, if the Transferred Businesses had been operated on a combined basis with our subsidiaries.", + "The selected consolidated financial data includes the results of the Transferred Businesses as described above for all periods presented, including periods prior to the completion of the Share Exchange.", + "See Note 2 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for further information.", + "Certain prior year amounts have been reclassified to conform to the current year presentation.", + "See further information under \u201cItem 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Explanation of Key Metrics and Other Items\u201d in this Annual Report on Form 10-K.", + "This data should be read in conjunction with our consolidated financial statements and related notes thereto for the three years ended December 31, 2018, and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d included elsewhere in this Annual Report on Form 10-K.", + "||As of December 31,|\n|Balance Sheet Data|2018|2017|2016|2015|2014|\n||(In thousands)|\n|Cash, cash equivalents and current marketable investment securities|$2,068,817|$1,980,673|$5,360,119|$1,611,894|$9,236,888|\n|Total assets|30,587,012|29,773,766|27,914,292|22,665,292|21,756,516|\n|Long-term debt and capital lease obligations (including current portion)|15,152,777|16,202,965|16,483,639|13,763,018|14,430,009|\n|Total stockholders\u2019 equity (deficit)|8,594,189|6,937,906|4,611,323|2,694,161|1,925,243|\n", + "For the Years Ended December 31,", + "||For the Years Ended December 31,|\n|Statements of Operations Data|2018|2017|2016|2015|2014|\n||(In thousands, except per share amounts)|\n|Total revenue|$13,621,302|$14,391,375|$15,212,302|$15,225,493|$14,819,289|\n|Total costs and expenses|11,473,681|12,823,610|12,893,041|13,797,121|12,915,803|\n|Operating income (loss)|$2,147,621|$1,567,765|$2,319,261|$1,428,372|$1,903,486|\n|Net income (loss) attributable to DISH Network|$1,575,091|$2,098,689|$1,497,939|$802,374|$996,648|\n|Basic net income (loss) per share attributable to DISH Network|$3.37|$4.50|$3.22|$1.73|$2.17|\n|Diluted net income (loss) per share attributable to DISH Network|$3.00|$4.07|$3.15|$1.73|$2.15|\n" + ], + "question_id": "simplong-test-62", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Granted Exercised - Canceled and Expired in 2006 for Options For Shares?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ANALOG DEVICES, INC. NOTES TO CONSOLIDATED FINANCIALSTATEMENTS-(Continued)", + "||October 28, 2017|October 29, 2016|\n||Principal Amount Outstanding|Fair Value|Principal Amount Outstanding|Fair Value|\n|3-Year term loan|$1,950,000|1,950,000|\u2014|\u2014|\n|5-Year term loan|2,100,000|2,100,000|\u2014|\u2014|\n|2021 Notes, due December 2021|400,000|399,530|\u2014|\u2014|\n|2023 Notes, due June 2023|500,000|498,582|500,000|501,307|\n|2023 Notes, due December 2023|550,000|554,411|\u2014|\u2014|\n|2025 Notes, due December 2025|850,000|884,861|850,000|901,523|\n|2026 Notes, due December 2026|900,000|902,769|\u2014|\u2014|\n|2036 Notes, due December 2036|250,000|259,442|\u2014|\u2014|\n|2045 Notes, due December 2045|400,000|460,588|400,000|425,109|\n", + "k. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure f of contingencies at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.", + "Such estimates relate to the useful lives of fixed assets, identified intangible assets allowances for doubtful accounts and customer returns, the net realizable value of inventory, potential reserves relating to litigation matters, accrued liabilities, y accrued taxes, deferred tax valuation allowances, assumptions pertaining to share-based payments, and fair value of acquired assets and liabilities, including inventoryy, propertyy, plant and equipment and acquired intangibles, and other reserves.", + "Actual results could differ from those estimates and such dif f ferences may be material to the financial statements.", + "f l. Concentrations of Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of investments and trade accounts receivable.", + "The Company maintains cash, cash equivalents and short-term and long-term investments with high credit quality counterparties, continuously monitors the amount of credit exposure to any one issuer and diversifies its investments in order to minimize its credit risk.", + "The Company sells its products to distributors and original equipment manufacturers involved in a variety of industries including industrial process automation, instrumentation, defense/aerospace, automotive, communications, computers and computer peripherals and consumer electronics.", + "The Company has adopted credit policies and standards to accommodate growth in these markets.", + "The Company performs continuing credit evaluations of its customers\u2019 financial condition and although the Company generally does not require collateral, the Company may require letters of credit from customers in certain circumstances.", + "The Company provides reserves for estimated amounts of accounts receivable that may not be collected.", + "The Company's largest single end customer represented approximately14%, 12% and 13% of total revenue in fiscal years 2017, 2016 and 2015, respectively.", + "m. Concentration of Other Risks The semiconductor industry is characterized by rapid technological change, competitive pricing pressures and cyclical market patterns.", + "The Company\u2019s financial results are affected by a wide variety of factors, including general economic f conditions worldwide, economic conditions specific to the semiconductor industry, the timely implementation of new y manufacturing technologies, the ability to safeguard patents and intellectual property in a rapidly evolving market and reliance on assembly and test subcontractors, third-party wafer fabricators and independent distributors.", + "In addition, the semiconductor market has historically been cyclical and subject to significant economic downturns at various times.", + "The Company is exposed to the risk of obsolescence of its inventory depending on the mix of future business.", + "Additionallyy, a large portion of the Company\u2019s purchases of external wafer and foundry services are from a limited number of suppliers, primarily Taiwan T Semiconductor Manufacturing Company (TSMC).", + "If TSMC or any of the Company\u2019s other key suppliers are unable or unwilling to manufacture and deliver suffficient quantities of components, on the time schedule and of the quality that the Company requires, the Company may be forced to engage additional or replacement suppliers, which could result in significant expenses and disruptions or delays in manufacturing, product development and shipment of product to the Company\u2019s", + "Warranties and Indemnities The Company generally warrants that its products sold to its customers will conform to the Company\u2019s approved specifications and be free from defects in material and workmanship under normal use and service for one year.", + "Subject to certain exceptions, the Company also offers a three-year limited warranty to end users for only those CPU and AMD A-Series APU products that are commonly referred to as \u201cprocessors in a box\u201d and for PC workstation products.", + "The Company has also offered extended limited warranties to certain customers of \u201ctray\u201d microprocessor products and/or workstation graphics products who have written agreements with the Company and target their computer systems at the commercial and/or embedded markets.", + "Changes in the Company\u2019s estimated liability for product warranty during the years ended December 28, 2013 and December 29, 2012 are as follows:", + "||December 28, 2013|December 29, 2012|\n||(In millions)|\n|Beginning balance|$16|$20|\n|New warranties issued during the period|27|28|\n|Settlements during the period|-25|-30|\n|Changes in liability for pre-existing warranties during the period, includingexpirations|-1|-2|\n|Ending balance|$17|$16|\n", + "In addition to product warranties, the Company, from time to time in its normal course of business, indemnifies other parties, with whom it enters into contractual relationships, including customers, lessors and parties to other transactions with the Company, with respect to certain matters.", + "In these limited matters, the Company has agreed to hold certain third parties harmless against specific types of claims or losses, such as those arising from a breach of representations or covenants, third-party claims that the Company\u2019s products when used for their intended purpose(s) and under specific conditions infringe the intellectual property rights of a third party, or other specified claims made against the indemnified party.", + "It is not possible to determine the maximum potential amount of liability under these indemnification obligations due to the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision.", + "Historically, payments made by the Company under these obligations have not been material.", + "NOTE 17: Contingencies Securities Class Action On January 15, 2014, a class action lawsuit captioned Hatamian v. AMD, et al.", + ", C. A.", + "No.3:14-cv-00226 was filed against the Company in the United States District Court for the Northern District of California.", + "The complaint purports to assert claims against the Company and certain individual officers for alleged violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the Exchange Act), and Rule 10b-5 of the Exchange Act.", + "The plaintiff seeks to represent a proposed class of all persons who purchased or otherwise acquired AMD common stock during the period October 27, 2011 through October 28, 2012.", + "The complaint seeks damages allegedly caused by alleged materially misleading statements and/or material omissions by the Company and the individual officers regarding our 32nm technology and \u201cLlano\u201d product, which statements and omissions, the plaintiffs claim, allegedly operated to inflate artificially the price paid for AMD\u2019s common stock during the period.", + "The complaint seeks unspecified compensatory damages, attorneys\u2019 fees and costs.", + "Based upon information presently known to the Company\u2019s management, the Company believes that the potential liability, if any, will not have a material adverse effect on our financial condition, cash flows or results of operations.", + "GUR is an engineered material used in heavy-duty automotive and industrial applications such as car battery separator panels and industrial conveyor belts, as well as in specialty medical and consumer applications, such as sports equipment and prostheses.", + "GUR micro powder grades are used for high-performance filters, membranes, diagnostic devices, coatings and additives for thermoplastics and elastomers.", + "GUR fibers are also used in protective ballistic applications.", + "Celstran and Compel are long fiber reinforced thermoplastics, which impart extra strength and stiffness, making them more suitable for larger parts than conventional thermoplastics.", + "Polyesters such as Celanex PBT, Vandar, a series of PBT-polyester blends and Riteflex, a thermoplastic polyester elastomer, are used in a wide variety of automotive, electrical and consumer applications, including ignition system parts, radiator grilles, electrical switches, appliance and sensor housings, LEDs and technical fibers.", + "Raw materials for polyesters vary.", + "Base monomers, such as dimethyl terephthalate and PTA, are widely available with pricing dependent on broader polyester fiber and packaging resins market conditions.", + "Smaller volume specialty co-monomers for these products are typically supplied by a few companies.", + "Liquid crystal polymers (\u201cLCP\u201d), such as Vectra, are used in electrical and electronics applications and for precision parts with thin walls and complex shapes or on high-heat cookware application.", + "Fortron, a PPS product, is used in a wide variety of automotive and other applications, especially those requiring heat and/or chemical resistance, including fuel system parts, radiator pipes and halogen lamp housings, and often replaces metal in these demanding applications.", + "Other possible application fields include non-woven filtration devices such as coal fired power plants.", + "Fortron is manufactured by Fortron Industries LLC, Advanced Engineered Materials\u2019 50-50 venture with Kureha Corporation of Japan.", + "Facilities Advanced Engineered Materials has polymerization, compounding and research and technology centers in Germany, Brazil and the United States.", + "On November 29, 2006, Advanced Engineered Materials reached a settlement with the Frankfurt, Germany, Airport (\u201cFraport\u201d) to relocate its Kelsterbach, Germany, business, resolving several years of legal disputes related to the planned Frankfurt airport expansion.", + "The final settlement agreement was signed on June 12, 2007.", + "As a result of the settlement, Advanced Engineered Materials will transition its operations from Kelsterbach to the Hoechst Industrial Park in the Rhine Main area by 2011.", + "See Note 29 to the consolidated financial statements for further information.", + "Markets The following table illustrates the destination of the net sales of the Advanced Engineered Materials segment by geographic region for the years ended December 31, 2007, 2006 and 2005.", + "Net Sales to External Customers by Destination \u2014 Advanced Engineered Materials", + "|| Year Ended|\n||December 31, 2007|December 31, 2006| December 31, 2005|\n|||% of||% of|| % of |\n|| $|Segment| $|Segment| $| Segment|\n|| (In millions, except percentages)|\n|North America|388|38%|311|34%|339|38%|\n|Europe/Africa|517|50%|500|55%|465|53%|\n|Asia/Australia|88|8%|55|6%|44|5%|\n|Rest of World|37|4%|49|5%|39|4%|\n", + "Advanced Engineered Materials\u2019 sales in the Asian market are made mainly through its ventures, Polyplastics, KEPCO and Fortron Industries, which are accounted for under the equity method and therefore not included in Advanced Engineered Materials\u2019 consolidated net sales.", + "If Advanced Engineered Materials\u2019 portion of the sales made by these ventures were included in the chart above, the percentage of sales sold in Asia/Australia would be substantially higher.", + "A number of Advanced Engineered Materials\u2019 POM customers, particularly in the appliance,", + "estimated at reporting dates prior to that time.", + "The compensation expense recognized each period should be based on the most recent estimated value.", + "The Company\u2019s recording of compensation expenses prior to fiscal 2006 for these grants were an estimate based on grant date fair value.", + "Fiscal 2006 includes the effect of the change for that year.", + "The effect on years prior to fiscal 2006 was not material.", + "Further, in accordance with EITF 00-19, \u201cAccounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company\u2019s Own Stock,\u201d the Company classifies these non-employee awards as liabilities at fair value upon vesting, with changes in fair value reported in earnings until these awards are exercised or forfeited.", + "The Company\u2019s net income for the years ended September 30, 2007, September 30, 2006, and September 30, 2005 includes $7.0 million, $9.7 million, and $2.1 million, respectively, of compensation costs and $2.7 million, $3.7 million, and $804,000, respectively, net of income tax benefits related to option grants to its independent contractor Financial Advisors.", + "The fair value of each fixed option grant awarded to an independent contractor Financial Advisor is estimated on the date of grant and periodically revalued using the Black-Scholes option pricing model with the following weighted average assumptions used for fiscal years ended 2007, 2006, and 2005:", + "||2007|2006|2005|\n|Dividend Yield|1.27%|1.11%|1.10%|\n|Expected Volatility|29.65%|30.89%|38.20%|\n|Risk-free Interest Rate|4.70%|4.62%|3.37%|\n|Expected Lives|2.92 yrs|2.76 yrs|2.56 yrs|\n", + "The dividend yield assumption is based on the Company\u2019s current declared dividend as a percentage of the stock price.", + "The expected volatility assumption for the current period and fiscal 2006 is based on the Company\u2019s historical stock price and is a weighted average combining (1) the volatility of the most recent year, (2) the volatility of the most recent time period equal to the expected lives assumption, and (3) the annualized volatility of the price of the Company\u2019s stock since the late 1980\u2019s.", + "The expected volatility used by the Company in fiscal 2005 was based on the annualized volatility of the price of the Company\u2019s stock since the late 1980\u2019s.", + "The risk-free interest rate assumption is based on the U. S. Treasury yield curve in effect at each point in time the options are valued.", + "The expected lives assumption is based on the difference between the option\u2019s vesting date plus 90 days (the average exercise period) and the date of the current reporting period.", + "A summary of option activity of the Company's fixed stock option plans under which awards are granted to its independent contractor Financial Advisors for the year ended September 30, 2007 is presented below:", + "||Options For Shares|Weighted Average Exercise Price ($)|Weighted Average Remaining Contractual Term (Years)|Aggregate Intrinsic Value ($)|\n|Outstanding at|||||\n|October 1, 2006|1,687,325|$ 16.64|-|-|\n|Granted|327,200|31.78|-|-|\n|Exercised|-383,728|15.27|-|-|\n|Canceled|-58,568|17.73|-|-|\n|Expired|-4,263|19.62|-|-|\n|Outstanding at|||||\n|September 30, 2007|1,567,966|$ 20.25|3.17|$ 19,761,733|\n|Exercisable at|||||\n|September 30, 2007|107,675|$ 13.54|0.71|$ 2,078,723|\n", + "As of September 30, 2007, there was $7.7 million of total unrecognized compensation cost related to unvested stock options granted to its independent contractor Financial Advisors based on estimated fair value at that date.", + "These costs are expected to be recognized over a weighted average period of approximately 2.3 years.", + "The weighted average grant date fair value of stock options granted under these plans during the years ended September 30, 2007, September 30, 2006 and September 30, 2005 was $9.70 per share, $11.87 per share and $9.51 per share, respectively.", + "The total intrinsic value of stock options exercised for these plans during the years ended September 30, 2007, September 30, 2006 and September 30, 2005 was $6.1 million, $5.6 million and $2.7 million, respectively.", + "The total estimated fair value of stock options vested for these plans during the years ended September 30, 2007, September 30, 2006 and September 30, 2005 was $6.2 million, $4.1 million and $3.5 million, respectively.", + "Cash received from stock option exercises for these plans for the year ended September 30, 2007 was $5.9 million.", + "There were no actual tax benefits realized for the tax deductions from option exercise of awards to its independent contractor Financial Advisors for the year ended September 30, 2007." + ], + "question_id": "simplong-test-63", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Gross profit in the year with the most Net revenues ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 6.", + "SELECTED FINANCIAL DATA The following selected financial data is qualified by reference to, and should be read in conjunction with, the Consolidated Financial Statements, including the notes thereto, and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d included elsewhere in this Form 10-K.", + "||Year Ended December 31,|\n|(In thousands, except per share amounts)|2016|2015|2014|2013|2012|\n|Net revenues|$4,825,335|$3,963,313|$3,084,370|$2,332,051|$1,834,921|\n|Cost of goods sold|2,584,724|2,057,766|1,572,164|1,195,381|955,624|\n|Gross profit|2,240,611|1,905,547|1,512,206|1,136,670|879,297|\n|Selling, general and administrative expenses|1,823,140|1,497,000|1,158,251|871,572|670,602|\n|Income from operations|417,471|408,547|353,955|265,098|208,695|\n|Interest expense, net|-26,434|-14,628|-5,335|-2,933|-5,183|\n|Other expense, net|-2,755|-7,234|-6,410|-1,172|-73|\n|Income before income taxes|388,282|386,685|342,210|260,993|203,439|\n|Provision for income taxes|131,303|154,112|134,168|98,663|74,661|\n|Net income|256,979|232,573|208,042|162,330|128,778|\n|Adjustment payment to Class C|59,000|\u2014|\u2014|\u2014|\u2014|\n|Net income available to all stockholders|$197,979|$232,573|$208,042|$162,330|$128,778|\n|Net income available per common share||||||\n|Basic net income per share of Class A and B common stock|$0.45|$0.54|$0.49|$0.39|$0.31|\n|Basic net income per share of Class C common stock|$0.72|$0.54|$0.49|$0.39|$0.31|\n|Diluted net income per share of Class A and B common stock|$0.45|$0.53|$0.47|$0.38|$0.30|\n|Diluted net income per share of Class C common stock|$0.71|$0.53|$0.47|$0.38|$0.30|\n|Weighted average common shares outstanding Class A and B common stock|\n|Basic|217,707|215,498|213,227|210,696|208,686|\n|Diluted|221,944|220,868|219,380|215,958|212,760|\n|Weighted average common shares outstanding Class C common stock|\n|Basic|218,623|215,498|213,227|210,696|208,686|\n|Diluted|222,904|220,868|219,380|215,958|212,760|\n|Dividends declared|$59,000|$\u2014|$\u2014|$\u2014|$\u2014|\n", + "Our net revenues for the full year 2016 were $4,825.3 million, which reflects a revision from the $4,828.2 million reported in our earnings release, filed January 31, 2017, on Form 8-K.", + "This revision reflects a $2.9 million adjustment related to a return credit for footwear that was identified in connection with the closing of our January 2017 books and records, following the earnings release.", + "As a result,", + "other items on our Consolidated Financial Statements have been appropriately adjusted from the amounts provided in the earnings release, including a reduction of our full year 2016 gross profit and income from operations by $2.9 million, and a reduction of net income by $1.7 million.", + "||At December 31,|\n|(In thousands)|2016|2015|2014|2013|2012|\n|Cash and cash equivalents|$250,470|$129,852|$593,175|$347,489|$341,841|\n|Working capital -1|1,279,337|1,019,953|1,127,772|702,181|651,370|\n|Inventories|917,491|783,031|536,714|469,006|319,286|\n|Total assets|3,644,331|2,865,970|2,092,428|1,576,369|1,155,052|\n|Total debt, including current maturities|817,388|666,070|281,546|151,551|59,858|\n|Total stockholders\u2019 equity|$2,030,900|$1,668,222|$1,350,300|$1,053,354|$816,922|\n", + "(1) Working capital is defined as current assets minus current liabilities.", + "In March 2016, the FASB issued ASU 2016-09, which effects all entities that issue share-based payment awards to their employees.", + "The amendments in this ASU cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows.", + "This ASU is effective for annual and interim periods beginning after December 15, 2016.", + "This guidance can be applied either prospectively, retrospectively or using a modified retrospective transition method.", + "Early adoption is permitted.", + "The Company will not early adopt this ASU.", + "The adoption of this guidance may have a material impact on the Company\u2019s effective tax rate and income tax expense, depending in part on whether significant employee stock option exercises occur.", + "In August 2016, the FASB issued ASU 2016-15, which eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues.", + "This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.", + "The Company does not believe this ASU will have a material impact on its consolidated financial statements.", + "In October 2016, the FASB issued ASU 2016-16, which will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs.", + "This ASU is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted in the first interim period of 2017.", + "Upon adoption, any deferred charge established upon an intra-company transfer would be recorded as a cumulative-effect adjustment to retained earnings.", + "At December 31, 2016, the Company had a deferred charge of $26.0 million with $1.8 million and $24.2 million recorded within Prepaid expenses and Other long term assets, respectively.", + "The Company plans to adopt this ASU during the interim period ending March 31, 2017.", + "Recently Adopted Accounting Standards In April 2015, the FASB issued ASU 2015-03, which requires costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt.", + "This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, with early adoption permitted.", + "The Company adopted the provisions of this ASU in the first quarter of 2016, and reclassified approximately $2.9 million from \u201cOther long term assets\u201d to \u201cLong term debt, net of current maturities\u201d as of December 31, 2015.3.", + "Property and Equipment, Net Property and equipment consisted of the following:", + "||December 31,|\n|(In thousands)|2016|2015|\n|Leasehold and tenant improvements|$326,617|$214,834|\n|Furniture, fixtures and displays|168,720|132,736|\n|Buildings|47,216|47,137|\n|Software|151,059|99,309|\n|Office equipment|75,196|50,399|\n|Plant equipment|124,140|118,138|\n|Land|83,574|17,628|\n|Construction in progress|204,362|147,581|\n|Other|20,383|4,002|\n|Subtotal property and equipment|1,201,267|831,764|\n|Accumulated depreciation|-397,056|-293,233|\n|Property and equipment, net|$804,211|$538,531|\n" + ], + "question_id": "simplong-test-64", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Total trading account assets be like in 2011 if it continues to grow at the same rate as it did in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTE 3 Trading Account Assets and Liabilities The table below presents the components of trading account assets and liabilities at December 31, 2010 and 2009.", + "|| December 31|\n|(Dollars in millions)| 2010|2009|\n| Trading account assets|||\n|U.S. government and agency securities-1|$60,811|$44,585|\n|Corporate securities, trading loans and other|49,352|57,009|\n|Equity securities|32,129|33,562|\n|Non-U.S.sovereign debt|33,523|28,143|\n|Mortgage trading loans and asset-backed securities|18,856|18,907|\n| Total trading account assets|$194,671|$182,206|\n| Trading account liabilities|||\n|U.S. government and agency securities|$29,340|$26,519|\n|Equity securities|15,482|18,407|\n|Non-U.S.sovereign debt|15,813|12,897|\n|Corporate securities and other|11,350|7,609|\n| Total trading account liabilities|$71,985|$65,432|\n", + "(1) Includes $29.7 billion and $23.5 billion at December 31, 2010 and 2009 of GSE obligations.", + "NOTE 4 Derivatives Derivative Balances Derivatives are entered into on behalf of customers, for trading, as economic hedges or as qualifying accounting hedges.", + "The Corporation enters into derivatives to facilitate client transactions, for principal trading purposes and to manage risk exposures.", + "For additional information on the Corporation\u2019s derivatives and hedging activities, see Note 1 \u2013 Summary of Significant Accounting Principles.", + "The table below identifies derivative instruments in\u0002cluded on the Corporation\u2019s Consolidated Balance Sheet in derivative assets and liabilities at December 31, 2010 and 2009.", + "Balances are presented on a gross basis, prior to the application of counterparty and collateral netting.", + "Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral applied.", + "|||December 31, 2010|\n|||Gross Derivative Assets|Gross Derivative Liabilities|\n||| Trading ||| Trading |||\n||| Derivatives ||| Derivatives |||\n||| and | Qualifying || and | Qualifying ||\n|| Contract/ | Economic | Accounting || Economic | Accounting ||\n|(Dollars in billions)| Notional-1| Hedges| Hedges-2|Total| Hedges| Hedges-2|Total|\n| Interest rate contracts||||||||\n|Swaps|$42,719.2|$1,193.9|$14.9|$1,208.8|$1,187.9|$2.2|$1,190.1|\n|Futures and forwards|9.939.2|6.0|\u2013|6.0|4.7|\u2013|4.7|\n|Written options|2,887.7|\u2013|\u2013|\u2013|82.8|\u2013|82.8|\n|Purchased options|3,026.2|88.0|\u2013|88.0|\u2013|\u2013|\u2013|\n| Foreign exchange contracts||||||||\n|Swaps|630.1|26.5|3.7|30.2|28.5|2.1|30.6|\n|Spot, futures and forwards|2,652.9|41.3|\u2013|41.3|44.2|\u2013|44.2|\n|Written options|439.6|\u2013|\u2013|\u2013|13.2|\u2013|13.2|\n|Purchased options|417.1|13.0|\u2013|13.0|\u2013|\u2013|\u2013|\n| Equity contracts||||||||\n|Swaps|42.4|1.7|\u2013|1.7|2.0|\u2013|2.0|\n|Futures and forwards|78.8|2.9|\u2013|2.9|2.1|\u2013|2.1|\n|Written options|242.7|\u2013|\u2013|\u2013|19.4|\u2013|19.4|\n|Purchased options|193.5|21.5|\u2013|21.5|\u2013|\u2013|\u2013|\n| Commodity contracts||||||||\n|Swaps|90.2|8.8|0.2|9.0|9.3|\u2013|9.3|\n|Futures and forwards|413.7|4.1|\u2013|4.1|2.8|\u2013|2.8|\n|Written options|86.3|\u2013|\u2013|\u2013|6.7|\u2013|6.7|\n|Purchased options|84.6|6.6|\u2013|6.6|\u2013|\u2013|\u2013|\n| Credit derivatives||||||||\n|Purchased credit derivatives:||||||||\n|Credit default swaps|2,184.7|69.8|\u2013|69.8|34.0|\u2013|34.0|\n|Total return swaps/other|26.0|0.9|\u2013|0.9|0.2|\u2013|0.2|\n|Written credit derivatives:||||||||\n|Credit default swaps|2,133.5|33.3|\u2013|33.3|63.2|\u2013|63.2|\n|Total return swaps/other|22.5|0.5|\u2013|0.5|0.5|\u2013|0.5|\n|Gross derivative assets/liabilities||$1,518.8|$18.8|$1,537.6|$1,501.5|$4.3|$1,505.8|\n|Less: Legally enforceable master netting agreements||||-1,406.3|||-1,406.3|\n|Less: Cash collateral applied||||-58.3|||-43.6|\n| Total derivative assets/liabilities||||$73.0|||$55.9|\n", + "(1) Represents the total contract/notional amount of derivative assets and liabilities outstanding.", + "(2) Excludes $4.1 billion of long-term debt designated as a hedge of foreign currency risk.", + "Core Net Interest Income We manage core net interest income which is reported net interest income on a FTE basis adjusted for the impact of market-based activities.", + "As discussed in the GBAM business segment section beginning on page 49, we evaluate our market-based results and strategies on a total market-based revenue approach by combining net interest income and noninterest income for GBAM.", + "In addition, 2009 is presented on a managed basis which is adjusted for loans that we originated and subsequently sold into credit card securitizations.", + "Noninterest income, rather than net interest income and provision for credit losses, was recorded for securitized assets as we are compensated for servicing the securitized assets and we recorded servicing income and gains or losses on securitizations, where appropriate.2010 is presented in accor\u0002dance with new consolidation guidance.", + "An analysis of core net interest income, core average earning assets and core net interest yield on earning assets, all of which adjust for the impact of these two non-core items from reported net interest income on a FTE basis, is shown below.", + "We believe the use of this non-GAAP presentation provides additional clarity in assessing our results.", + "|(Dollars in millions)|2010|2009|\n| Net interest income-1|||\n|As reported-2|$52,693|$48,410|\n|Impact of market-based net interest income-3|-4,430|-6,117|\n|Core net interest income|48,263|42,293|\n|Impact of securitizations-4|n/a|10,524|\n| Core net interest income|48,263|52,817|\n| Average earning assets|||\n|As reported|1,897,573|1,830,193|\n|Impact of market-based earning assets-3|-504,360|-481,376|\n|Core average earning assets|1,393,213|1,348,817|\n|Impact of securitizations-5|n/a|83,640|\n| Core average earning assets|1,393,213|1,432,457|\n| Net interest yield contribution-1|||\n|As reported-2|2.78%|2.65%|\n|Impact of market-based activities-3|0.68|0.49|\n|Core net interest yield on earning assets|3.46|3.14|\n|Impact of securitizations|n/a|0.55|\n| Core net interest yield on earning assets|3.46%|3.69%|\n", + "(1) FTE basis (2) Balance and calculation include fees earned on overnight deposits placed with the Federal Reserve of $368 million and $379 million for 2010 and 2009.", + "(3) Represents the impact of market-based amounts included in GBAM.", + "(4) Represents the impact of securitizations utilizing actual bond costs which is different from the business segment view which utilizes funds transfer pricing methodologies.", + "(5) Represents average securitized loans less accrued interest receivable and certain securitized bonds retained.", + "n/a = not applicable Core net interest income decreased $4.6 billion to $48.3 billion for 2010 compared to 2009.", + "The decrease was driven by lower loan levels compared to managed loan levels in 2009, and lower yields for the discretionary and credit card portfolios.", + "These impacts were partially offset by lower rates on deposits.", + "Core average earning assets decreased $39.2 billion to $1.4 trillion for 2010 compared to 2009.", + "The decrease was primarily due to lower commercial loan levels and lower consumer loan levels compared to managed consumer loan levels in 2009.", + "The impact was partially offset by increased securities levels in 2010.", + "Core net interest yield decreased 23 bps to 3.46 percent for 2010 compared to 2009 due to the factors noted above.", + "The fair value of variable rate debt approximates the carrying value since interest rates are variable and, thus, approximate current market rates.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with Generally Accepted Accounting Principles in the United States, as 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.", + "Our free cash flow for the years ended December 31, 2005, 2004 and 2003 is calculated as follows (in millions):" + ], + "question_id": "simplong-test-65", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Residential mortgage-backed securities sum up without those Residential mortgage-backed securities smaller than 20,000, in 2008? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Subscription Cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure, including depreciation expenses and operating lease payments associated with computer equipment, data center costs, salaries and related expenses of network operations, implementation, account management and technical support personnel, amortization of intangible assets and allocated overhead.", + "We enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space, power and similar items.", + "Cost of subscription revenue increased due to the following:", + "||% Change2014-2013|% Change2013-2012|\n|Data center cost|10%|11%|\n|Compensation cost and related benefits associated with headcount|4|5|\n|Depreciation expense|3|3|\n|Royalty cost|3|4|\n|Amortization of purchased intangibles|\u2014|4|\n|Various individually insignificant items|1|\u2014|\n|Total change|21%|27%|\n", + "Cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs, compensation cost and related benefits, deprecation expense, and royalty cost.", + "Data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services.", + "Compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014, including from our acquisition of Neolane in the third quarter of fiscal 2013.", + "Depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business.", + "Royalty cost increased primarily due to increases in subscriptions and downloads of our SaaS offerings.", + "Cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles.", + "Hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services, depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount.", + "Amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of Behance and Neolane in fiscal 2013.", + "Services and Support Cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services, training and product support.", + "Cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers.", + "Cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount, including headcount from our acquisition of Neolane in fiscal 2013.", + "with the disposition of real estate property and other investment transactions.", + "The Company\u2019s recorded liabilities were $6 million at both December 31, 2008 and 2007 for indemnities, guarantees and commitments.", + "In connection with synthetically created investment transactions, the Company writes credit default swap obligations that generally require payment of principal outstanding due in exchange for the referenced credit obligation.", + "If a credit event, as defined by the contract, occurs the Company\u2019s maximum amount at risk, assuming the value of all referenced credit obligations is zero, was $1.9 billion at December 31, 2008.", + "However, the Company believes that any actual future losses will be significantly lower than this amount.", + "Additionally, the Company can terminate these contracts at any time through cash settlement with the counterparty at an amount equal to the then current estimated fair value of the credit default swaps.", + "As of December 31, 2008, the Company would have paid $37 million to terminate all of these contracts.", + "Other Commitments MetLife Insurance Company of Connecticut is a member of the Federal Home Loan Bank of Boston (the \u201cFHLB of Boston\u201d) and holds $70 million of common stock of the FHLB of Boston at both December 31, 2008 and 2007, which is included in equity securities.", + "MICC has also entered into funding agreements with the FHLB of Boston whereby MICC has issued such funding agreements in exchange for cash and for which the FHLB of Boston has been granted a blanket lien on certain MICC assets, including residential mortgage-backed securities, to collateralize MICC\u2019s obligations under the funding agreements.", + "MICC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "Upon any event of default by MICC, the FHLB of Boston\u2019s recovery on the collateral is limited to the amount of MICC\u2019s liability to the FHLB of Boston.", + "The amount of the Company\u2019s liability for funding agreements with the FHLB of Boston was $526 million and $726 million at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.", + "In addition, at December 31, 2008, MICC had advances of $300 million from the FHLB of Boston with original maturities of less than one year and therefore, such advances are included in short-term debt.", + "These advances and the advances on these funding agreements are collateralized by mortgage-backed securities with estimated fair values of $1.3 billion and $901 million at December 31, 2008 and 2007, respectively.", + "Metropolitan Life Insurance Company is a member of the FHLB of NY and holds $830 million and $339 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.", + "MLIC has also entered into funding agreements with the FHLB of NY whereby MLIC has issued such funding agreements in exchange for cash and for which the FHLB of NY has been granted a lien on certain MLIC assets, including residential mortgage-backed securities to collateralize MLIC\u2019s obligations under the funding agreements.", + "MLIC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "Upon any event of default by MLIC, the FHLB of NY\u2019s recovery on the collateral is limited to the amount of MLIC\u2019s liability to the FHLB of NY.", + "The amount of the Company\u2019s liability for funding agreements with the FHLB of NY was $15.2 billion and $4.6 billion at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.", + "The advances on these agreements are collateralized by mortgage-backed securities with estimated fair values of $17.8 billion and $4.8 billion at December 31, 2008 and 2007, respectively.", + "MetLife Bank is a member of the FHLB of NY and holds $89 million and $64 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.", + "MetLife Bank has also entered into repurchase agreements with the FHLB of NY whereby MetLife Bank has issued repurchase agreements in exchange for cash and for which the FHLB of NY has been granted a blanket lien on MetLife Bank\u2019s residential mortgages and mortgage-backed securities to collateralize MetLife Bank\u2019s obligations under the repurchase agreements.", + "MetLife Bank maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "The repurchase agreements and the related security agreement represented by this blanket lien provide that upon any event of default by MetLife Bank, the FHLB of NY\u2019s recovery is limited to the amount of MetLife Bank\u2019s liability under the outstanding repurchase agreements.", + "The amount of the Company\u2019s liability for repurchase agreements with the FHLB of NY was $1.8 billion and $1.2 billion at December 31, 2008 and 2007, respectively, which is included in long-term debt and short-term debt depending on the original tenor of the advance.", + "The advances on these repurchase agreements are collateralized by residential mortgage\u0002backed securities and residential mortgage loans with estimated fair values of $3.1 billion and $1.3 billion at December 31, 2008 and 2007, respectively.", + "Collateral for Securities Lending The Company has non-cash collateral for securities lending on deposit from customers, which cannot be sold or repledged, and which has not been recorded on its consolidated balance sheets.", + "The amount of this collateral was $279 million and $40 million at December 31, 2008 and 2007, respectively.", + "Goodwill Goodwill is the excess of cost over the estimated fair value of net assets acquired.", + "Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances, such as adverse changes in the business climate, indicate that there may be justification for conducting an interim test.", + "Impairment testing is performed using the fair value approach, which requires the use of estimates and judgment, at the \u201creporting unit\u201d level.", + "A reporting unit is the operating segment or a business one level below the operating segment, if discrete financial information is prepared and regularly reviewed by management at that level.", + "Information regarding changes in goodwill is as follows:", + "|| December 31,|\n||2008| 2007| 2006|\n|| (In millions)|\n|Balance at beginning of the period,|$4,814|$4,801|$4,701|\n|Acquisitions -1|256|2|93|\n|Other, net -2|-62|11|7|\n|Balance at the end of the period|$5,008|$4,814|$4,801|\n", + "The Subsidiaries recognized no other postretirement benefit expense in 2008 as compared to $8 million in 2007 and $58 million in 2006.", + "The major components of net periodic other postretirement benefit plan cost described above were as follows:", + "||Years Ended December 31,|\n||2008|2007|2006|\n||(In millions)|\n|Service cost|$21|$27|$35|\n|Interest cost|103|103|116|\n|Expected return on plan assets|-86|-86|-79|\n|Amortization of net actuarial (gains) losses|-1|\u2014|22|\n|Amortization of prior service cost (credit)|-37|-36|-36|\n|Net periodic benefit cost|$\u2014|$8|$58|\n", + "The decrease in benefit cost from 2006 to 2007 primarily resulted from a change in the Medicare integration methodology for certain retirees.", + "The decrease in benefit cost from 2007 to 2008 was due to primarily to increases in the discount rate and better than expected medical trend experience.", + "For 2009 postretirement benefit expense, we anticipate an increase of approximately $25 million due to poor plan asset performance as a result of the economic downturn of the financial markets.", + "The expected increase in expense can be attributed to lower expected return on assets and increased amortization of net actuarial losses.", + "The estimated net actuarial losses and prior service credit for the other postretirement benefit plans that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost over the next year are less than $10 million and ($36) million, respectively.", + "The weighted average discount rate used to calculate the net periodic postretirement cost was 6.65%, 6.00% and 5.82% for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The weighted average expected rate of return on plan assets used to calculate the net other postretirement benefit plan cost for the years ended December 31, 2008, 2007 and 2006 was 7.33%, 7.47% and 7.42%, respectively.", + "The expected rate of return on plan assets is based on anticipated performance of the various asset sectors in which the plan invests, weighted by target allocation percentages.", + "Anticipated future performance is based on long-term historical returns of the plan assets by sector, adjusted for the Subsidiaries\u2019 long\u0002term expectations on the performance of the markets.", + "While the precise expected return derived using this approach will fluctuate from year to year, the Subsidiaries\u2019 policy is to hold this long-term assumption constant as long as it remains within reasonable tolerance from the derived rate.", + "Based on the December 31, 2008 asset balances, a 25 basis point increase (decrease) in the expected rate of return on plan assets would result in a decrease (increase) in net periodic benefit cost of $3 million for the other postretirement benefit plans.", + "Funding and Cash Flows of Pension and Other Postretirement Benefit Plan Obligations Pension Plan Obligations It is the Subsidiaries\u2019 practice to make contributions to the qualified pension plans to comply with minimum funding requirements of ERISA, as amended.", + "In accordance with such practice, no contributions were required for the years ended December 31, 2008 or 2007.", + "No contributions will be required for 2009.", + "The Subsidiaries made a discretionary contribution of $300 million to the qualified pension plans during the year ended December 31, 2008.", + "During the year ended December 31, 2007, the Subsidiaries did not make any discretionary contributions to the qualified pension plans.", + "The Subsidiaries expect to make additional discretionary contributions of $150 million in 2009.", + "Benefit payments due under the non-qualified pension plans are funded from the Subsidiaries\u2019 general assets as they become due under the provision of the plans.", + "These payments totaled $43 million and $48 million for the years ended December 31, 2008 and 2007, respectively.", + "These benefit payments are expected to be at approximately the same level in 2009.", + "Gross pension benefit payments for the next ten years, which reflect expected future service as appropriate, are expected to be as follows:", + "|| Pension Benefits (In millions)|\n|2009|$384|\n|2010|$398|\n|2011|$408|\n|2012|$424|\n|2013|$437|\n|2014-2018|$2,416|\n", + "Other Postretirement Benefit Plan Obligations Other postretirement benefits represent a non-vested, non-guaranteed obligation of the Subsidiaries and current regulations do not require specific funding levels for these benefits.", + "While the Subsidiaries have partially funded such plans in advance, it has been the Subsidiaries\u2019 practice to primarily use their general assets, net of participants\u2019 contributions, to pay postretirement medical claims as they come due in lieu of utilizing plan assets.", + "Total payments equaled $149 million and $173 million for the years ended December 31, 2008 and 2007, respectively.", + "The Subsidiaries\u2019 expect to make contributions of $120 million, net of participants\u2019 contributions, towards the other postretirement plan obligations in 2009.", + "As noted previously, the Subsidiaries expect to receive subsidies under the Prescription Drug Act to partially offset such payments.", + "Corporate Fixed Maturity Securities.", + "The table below shows the major industry types that comprise the corporate fixed maturity holdings at:", + "|| December 31,|\n||2008| 2007|\n|| Estimated |% of| Estimated | % of |\n|| Fair Value|Total| Fair Value| Total|\n|| (In millions)|\n|Foreign -1|$29,679|32.0%|$37,166|33.4%|\n|Finance|14,996|16.1|20,639|18.6|\n|Industrial|13,324|14.3|15,838|14.3|\n|Consumer|13,122|14.1|15,793|14.2|\n|Utility|12,434|13.4|13,206|11.9|\n|Communications|5,714|6.1|7,679|6.9|\n|Other|3,713|4.0|764|0.7|\n|Total|$92,982|100.0%|$111,085|100.0%|\n", + "(1) Includes U. S. dollar-denominated debt obligations of foreign obligors, and other fixed maturity foreign investments.", + "The Company maintains a diversified corporate fixed maturity portfolio across industries and issuers.", + "The portfolio does not have exposure to any single issuer in excess of 1% of the total invested assets of the portfolio.", + "At December 31, 2008 and 2007, the Company\u2019s combined holdings in the ten issuers to which it had the greatest exposure totaled $8.4 billion and $7.8 billion, respectively, the total of these ten issuers being less than 3% of the Company\u2019s total invested assets at such dates.", + "The exposure to the largest single issuer of corporate fixed maturity securities held at December 31, 2008 and 2007 was $1.5 billion and $1.2 billion, respectively.", + "The Company has hedged all of its material exposure to foreign currency risk in its corporate fixed maturity portfolio.", + "In the Company\u2019s international insurance operations, both its assets and liabilities are generally denominated in local currencies.", + "Structured Securities.", + "The following table shows the types of structured securities the Company held at:", + "|| December 31,|\n||2008| 2007|\n|| Estimated |% of| Estimated | % of |\n|| Fair Value|Total| Fair Value| Total|\n||| (In millions)||\n|Residential mortgage-backed securities:|||||\n|Collateralized mortgage obligations|$26,025|44.0%|$36,303|44.0%|\n|Pass-through securities|10,003|16.8|18,692|22.6|\n|Total residential mortgage-backed securities|36,028|60.8|54,995|66.6|\n|Commercial mortgage-backed securities|12,644|21.4|16,993|20.6|\n|Asset-backed securities|10,523|17.8|10,572|12.8|\n|Total|$59,195|100.0%|$82,560|100.0%|\n", + "Collateralized mortgage obligations are a type of mortgage-backed security that creates separate pools or tranches of pass-through cash flows for different classes of bondholders with varying maturities.", + "Pass-through mortgage-backed securities are a type of asset\u0002backed security that is secured by a mortgage or collection of mortgages.", + "The monthly mortgage payments from homeowners pass from the originating bank through an intermediary, such as a government agency or investment bank, which collects the payments, and for fee, remits or passes these payments through to the holders of the pass-through securities.", + "Residential Mortgage-Backed Securities.", + "At December 31, 2008, the exposures in the Company\u2019s residential mortgage-backed securities portfolio consist of agency, prime, and alternative residential mortgage loans (\u201cAlt-A\u201d) securities of 68%, 23%, and 9% of the total holdings, respectively.", + "At December 31, 2008 and 2007, $33.3 billion and $54.7 billion, respectively, or 92% and 99% respectively, of the residential mortgage-backed securities were rated Aaa/AAA by Moody\u2019s, S&P or Fitch.", + "The majority of the agency residential mortgage\u0002backed securities are guaranteed or otherwise supported by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Government National Mortgage Association.", + "Prime residential mortgage lending includes the origination of residential mortgage loans to the most credit-worthy customers with high quality credit profiles.", + "Alt-A residential mortgage loans are a classification of mortgage loans where the risk profile of the borrower falls between prime and sub-prime.", + "At December 31, 2008 and 2007, the Company\u2019s Alt-A residential mortgage-backed securities exposure was $3.4 billion and $6.3 billion, respectively, with an unrealized loss of $1,963 mil\u0002lion and $139 million, respectively.", + "At December 31, 2008 and December 31, 2007, $2.1 billion and $6.3 billion, respectively, or 63% and 99%, respectively, of the Company\u2019s Alt-A residential mortgage-backed securities were rated Aa/AA or better by Moody\u2019s, S&P or Fitch; At December 31, 2008 the Company\u2019s Alt-A holdings are distributed as follows: 23% 2007 vintage year, 25% 2006 vintage year; and 52% in the 2005 and prior vintage years.", + "Vintage year refers to the year of origination and not to the year of purchase.", + "In December 2008, certain Alt-A residential mortgage-backed securities experienced ratings downgrades from investment grade to below investment grade, con\u0002tributing to the decrease year over year cited above in those securities rated Aa/AA or better.", + "In January 2009 Moody\u2019s revised its loss projections for Alt-A residential mortgage-backed securities, and the Company anticipates that Moody\u2019s will be downgrading virtually all 2006 and 2007 vintage year Alt-A securities to below investment grade, which will increase the percentage of our Alt-A residential mortgage-backed securities portfolio that will be rated below investment grade.", + "Our analysis suggests that Moody\u2019s is applying essentially" + ], + "question_id": "simplong-test-66", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of Total operating revenues for Corporate Benefit Funding, Auto & Home, and International ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of the Company\u2019s common stock with (1) the Standard & Poor\u2019s (S&P) 500?", + "Index, (2) the S&P 500?", + "Materials Index, a group of 25 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector, (3) the S&P Aerospace & Defense Select Industry Index, a group of 33 companies categorized by Standard & Poor\u2019s as active in the \u201caerospace & defense\u201d industry and (4) the S&P 500?", + "Industrials Index, a group of 69 companies categorized by Standard & Poor\u2019s as active in the \u201cindustrials\u201d market sector.", + "The graph assumes, in each case, an initial investment of $100 on December 31, 2013, and the reinvestment of dividends.", + "Historical prices prior to the separation of Alcoa Corporation from the Company on November 1, 2016, have been adjusted to reflect the value of the Separation transaction.", + "The graph, table and related information shall not be deemed to be \u201cfiled\u201d with the SEC, nor shall such information be incorporated by reference into future filings under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.", + "Please note that the Company intends to replace the S&P 500?", + "Materials Index with the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index in subsequent stock performance graphs.", + "We believe that the companies and industries represented in the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index better reflect the markets in which the Company currently participates.", + "All three indices are represented in the graph below.", + "|As of December 31,|2013|2014|2015|2016|2017|2018|\n|Arconic Inc.|$100|$149.83|$94.62|$80.22|$119.02|$74.47|\n|S&P 500\u00aeIndex|100|113.69|115.26|129.05|157.22|150.33|\n|S&P 500\u00aeMaterials Index|100|106.91|97.95|114.30|141.55|120.74|\n|S&P Aerospace & Defense Select Industry Index|100|111.43|117.49|139.70|197.50|181.56|\n|S&P 500\u00aeIndustrials Index|100|109.83|107.04|127.23|153.99|133.53|\n", + "Copyright?2019 Standard & Poor's, a division of S&P Global.", + "All rights reserved", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2010|$415|$15|$287|\n|2011|$357|$17|$237|\n|2012|$288|$16|$190|\n|2013|$253|$15|$169|\n|2014|$221|$9|$119|\n|Thereafter|$723|$44|$994|\n", + "During 2008, the Company moved certain of its operations in New York from Long Island City to New York City.", + "As a result of this movement of operations and current market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Banking, Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "During 2009, pending sublease deals were impacted by the further decline of market conditions, which resulted in an additional lease impairment charge of $52 million.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.1 billion and $4.5 billion at December 31, 2009 and 2008, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $2.7 billion and $8.0 billion at December 31, 2009 and 2008, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards in Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $2.2 billion and $2.7 billion at December 31, 2009 and 2008, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.3 billion and $1.0 billion at December 31, 2009 and 2008, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.6 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Options.", + "Additional shares carried forward from the Stock Incentive Plan and available for issuance under the 2005 Stock Plan were 13,018,939 at December 31, 2009.", + "There were no shares carried forward from the 2000 Directors Stock Plan.", + "Each share issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares.", + "The number of shares reserved for issuance under the 2005 Directors Stock Plan are 2,000,000.", + "At December 31, 2009, the aggregate number of shares remaining available for issuance pursuant to the 2005 Stock Plan and the 2005 Directors Stock Plan were 47,903,044 and 1,838,594, respectively.", + "Stock Option exercises and other stock-based awards to employees settled in shares are satisfied through the issuance of shares held in treasury by the Company.", + "Under the current authorized share repurchase program, as described previously, sufficient treasury shares exist to satisfy foreseeable obligations under the Incentive Plans.", + "Compensation expense related to awards under the Incentive Plans is recognized based on the number of awards expected to vest, which represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant.", + "Unless a material deviation from the assumed rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual experience is recognized in the period the award becomes payable or exercisable.", + "Compensation expense of $69 million, $123 million and $146 million, and income tax benefits of $24 million, $43 million and $51 million, related to the Incentive Plans was recognized for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Compensation expense is principally related to the issuance of Stock Options, Performance Shares and Restricted Stock Units.", + "The majority of the awards granted by the Holding Company are made in the first quarter of each year.", + "Stock Options All Stock Options granted had an exercise price equal to the closing price of the Holding Company\u2019s common stock as reported on the New York Stock Exchange on the date of grant, and have a maximum term of ten years.", + "Certain Stock Options granted under the Stock Incentive Plan and the 2005 Stock Plan have or will become exercisable over a three year period commencing with the date of grant, while other Stock Options have or will become exercisable three years after the date of grant.", + "Stock Options issued under the 2000 Directors Stock Plan were exercisable immediately.", + "The date at which a Stock Option issued under the 2005 Directors Stock Plan becomes exercisable would be determined at the time such Stock Option is granted.", + "A summary of the activity related to Stock Options for the year ended December 31, 2009 is presented below.", + "The aggregate intrinsic value was computed using the closing share price on December 31, 2009 of $35.35 and December 31, 2008 of $34.86, as applicable.", + "||Shares Under| Weighted Average | Weighted Average Remaining Contractual Term (Years)| Aggregate Intrinsic Value (In millions)|\n||Option| Exercise Price|\n|Outstanding at January 1, 2009|26,158,275|$41.73|5.73|$\u2014|\n|Granted|5,450,662|$23.61|||\n|Exercised|-254,576|$30.23|||\n|Cancelled/Expired|-794,655|$39.79|||\n|Forfeited|-407,301|$48.72|||\n|Outstanding at December 31, 2009|30,152,405|$38.51|5.50|$\u2014|\n|Aggregate number of stock options expected to vest at December 31, 2009|29,552,636|$38.58|5.43|$\u2014|\n|Exercisable at December 31, 2009|21,651,876|$38.94|4.28|$\u2014|\n", + "The fair value of Stock Options is estimated on the date of grant using a binomial lattice model.", + "Significant assumptions used in the Company\u2019s binomial lattice model, which are further described below, include: expected volatility of the price of the Holding Company\u2019s common stock; risk-free rate of return; expected dividend yield on the Holding Company\u2019s common stock; exercise multiple; and the post\u0002vesting termination rate.", + "Expected volatility is based upon an analysis of historical prices of the Holding Company\u2019s common stock and call options on that common stock traded on the open market.", + "The Company uses a weighted-average of the implied volatility for publicly-traded call options with the longest remaining maturity nearest to the money as of each valuation date and the historical volatility, calculated using monthly closing prices of the Holding Company\u2019s common stock.", + "The Company chose a monthly measurement interval for historical volatility as it believes this better depicts the nature of employee option exercise decisions being based on longer-term trends in the price of the underlying shares rather than on daily price movements.", + "The binomial lattice model used by the Company incorporates different risk-free rates based on the imputed forward rates for U. S. Treasury Strips for each year over the contractual term of the option.", + "The table below presents the full range of rates that were used for options granted during the respective periods.", + "Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the Stock Option.", + "Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses Year Ended December 31, 2009", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home|International|Banking Corporate & Other|Total|\n||||(In millions)||||\n|Total revenues|$23,483|$3,543|$5,669|$3,113|$4,383|$867|$41,058|\n|Less: Net investment gains (losses)|-2,258|-1,606|-2,260|-2|-903|-743|-7,772|\n|Less: Adjustments related to net investment gains (losses)|-27|\u2014|\u2014|\u2014|\u2014|\u2014|-27|\n|Less: Other adjustments to revenues|-74|-217|187|\u2014|-169|22|-251|\n|Total operating revenues|$25,842|$5,366|$7,742|$3,115|$5,455|$1,588|$49,108|\n|Total expenses|$24,165|$4,108|$6,982|$2,697|$4,868|$2,571|$45,391|\n|Less: Adjustments related to net investment gains (losses)|39|-739|\u2014|\u2014|\u2014|\u2014|-700|\n|Less: Other adjustments to expenses|-1|\u2014|64|\u2014|37|38|138|\n|Total operating expenses|$24,127|$4,847|$6,918|$2,697|$4,831|$2,533|$45,953|\n", + "Year Ended December 31, 2008", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home| International|Banking Corporate & Other|Total|\n||(In millions)|\n|Total revenues|$26,754|$5,630|$7,559|$3,061|$6,001|$1,979|$50,984|\n|Less: Net investment gains (losses)|1,558|901|-1,629|-134|169|947|1,812|\n|Less: Adjustments related to net investment gains (losses)|18|\u2014|\u2014|\u2014|\u2014|\u2014|18|\n|Less: Other adjustments to revenues|-1|-35|45|\u2014|69|13|91|\n|Total operating revenues|$25,179|$4,764|$9,143|$3,195|$5,763|$1,019|$49,063|\n|Total expenses|$23,418|$5,049|$7,735|$2,728|$5,044|$1,949|$45,923|\n|Less: Adjustments related to net investment gains (losses)|262|577|\u2014|\u2014|\u2014|\u2014|839|\n|Less: Other adjustments to expenses|-52|\u2014|-29|\u2014|17|-4|-68|\n|Total operating expenses|$23,208|$4,472|$7,764|$2,728|$5,027|$1,953|$45,152|\n", + "Less: Adjustments related to net investment gains", + "The volatile market conditions that began in 2008 and continued into 2009 impacted several key components of our operating earnings available to common shareholders including net investment income, hedging costs, and certain market sensitive expenses.", + "The markets also positively impacted our operating earnings available to common shareholders as conditions began to improve during 2009, resulting in lower DAC and DSI amortization.", + "A $722 million decline in net investment income was the result of decreasing yields, including the effects of our higher quality, more liquid, but lower yielding investment position in response to the extraordinary market conditions.", + "The impact of declining yields caused a $1.6 billion decrease in net investment income, which was partially offset by an increase of $846 million due to growth in average invested assets calculated excluding unrealized gains and losses.", + "The decrease in yields resulted from the disruption and dislocation in the global financial markets experienced in 2008, which continued, but moderated, in 2009.", + "The adverse yield impact was concentrated in the following four invested asset classes: ?", + "Fixed maturity securities \u2014 primarily due to lower yields on floating rate securities from declines in short-term interest rates and an increased allocation to lower yielding, higher quality, U. S. Treasury, agency and government guaranteed securities, to increase liquidity in response to the extraordinary market conditions, as well as decreased income on our securities lending program, primarily due to the smaller size of the program in the current year.", + "These adverse impacts were offset slightly as conditions improved late in 2009 and we began to reallocate our portfolio to higher-yielding assets; ?", + "Real estate joint ventures \u2014 primarily due to declining property valuations on certain investment funds that carry their real estate at estimated fair value and operating losses incurred on properties that were developed for sale by development joint ventures; ?", + "Cash, cash equivalents and short-term investments \u2014 primarily due to declines in short-term interest rates; and ?", + "Mortgage loans \u2014 primarily due to lower prepayments on commercial mortgage loans and lower yields on variable rate loans reflecting declines in short-term interest rates.", + "Equity markets experienced some recovery in 2009, which led to improved yields on other limited partnership interests.", + "As many of our products are interest spread-based, the lower net investment income was significantly offset by lower interest credited expense on our investment and insurance products.", + "The financial market conditions also resulted in a $348 million increase in net guaranteed annuity benefit costs in our Retirement Products segment, as increased hedging losses were only partially offset by lower guaranteed benefit costs.", + "The key driver of the increase in other expenses stemmed from the impact of market conditions on certain expenses, primarily pension and postretirement benefit costs, reinsurance expenses and letter of credit fees.", + "These increases coupled with higher variable costs, such as" + ], + "question_id": "simplong-test-67", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the highest total amount of Total available-for-sale securities? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "higher in the fiscal 2013 period, including about $100 million for higher staffing expenses, about $60 million for higher advertising and other marketing program expenses, and about $23 million for higher share-based compensation expenses.", + "See \u201cCost of Revenue\u201d and \u201cOperating Expenses\u201d later in this Item 7 for more information.", + "Net income from continuing operations increased 8% in fiscal 2013 compared with fiscal 2012 due to higher operating income and lower interest expense due to the repayment of debt in March 2012.", + "Diluted net income per share from continuing operations for fiscal 2013 increased 8% to $2.72, in line with the increase in net income compared with fiscal 2012.", + "Segment Results The information below is organized in accordance with our three reportable segments.", + "All of our segments operate primarily in the United States and sell primarily to customers in the United States.", + "International total net revenue was approximately 5% of consolidated total net revenue for all periods presented.", + "Segment operating income is segment net revenue less segment cost of revenue and operating expenses.", + "Segment expenses do not include certain costs, such as corporate selling and marketing, product development, and general and administrative expenses and share-based compensation expenses, which are not allocated to specific segments.", + "These unallocated costs totaled $890 million in fiscal 2014, $809 million in fiscal 2013, and $724 million in fiscal 2012.", + "Unallocated costs increased in fiscal 2014 compared with fiscal 2013 and in fiscal 2013 compared with fiscal 2012 due to increases in corporate product development and selling and marketing expenses in support of the growth of our businesses and to a lesser extent due to increases in share-based compensation expenses.", + "Segment expenses also do not include amortization of acquired technology, amortization of other acquired intangible assets, and goodwill and intangible asset impairment charges.", + "See Note 14 to the financial statements in Item 8 of this Annual Report for reconciliations of total segment operating income to consolidated operating income from continuing operations for each fiscal year presented.", + "We calculate revenue growth rates and segment operating margin figures using dollars in thousands.", + "Those results may vary slightly from figures calculated using the dollars in millions presented.", + "Small Business", + "|(Dollars in millions)|Fiscal2014|Fiscal2013|Fiscal2012|2014-2013% Change|2013-2012% Change|\n|Product revenue|$851|$849|$811|||\n|Service and other revenue|1,402|1,208|968|||\n|Total segment revenue|$2,253|$2,057|$1,779|10%|16%|\n|% of total revenue|50%|49%|47%|||\n|Segment operating income|$843|$800|$712|5%|13%|\n|% of related revenue|37%|39%|40%|||\n", + "Service and other revenue in our Small Business segment is derived primarily from QuickBooks Online and QuickBooks Online Accountant, our hosted financial and business management offerings; QuickBooks Pro Plus, QuickBooks Premier Plus, and QuickBooks Accountant Plus, our subscription offerings; QuickBooks technical support plans; small business payroll services, including Quickbooks Online Payroll, Intuit Online Payroll, Intuit Full Service Payroll, and QuickBooks Assisted Payroll; payment processing services for small businesses; Demandforce; and QuickBase.", + "Product revenue in our Small Business segment is derived primarily from QuickBooks desktop software products, including QuickBooks Pro, QuickBooks Premier, QuickBooks Accountant, and QuickBooks Enterprise Solutions; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program subscriptions for the accounting professionals who serve small businesses; and financial supplies.", + "As part of our connected services strategy, over the past several quarters we have been focusing Small Business segment resources on the enhancement and marketing of our QuickBooks Online and QuickBooks desktop subscription offerings.", + "As a result, QuickBooks desktop license units and revenue have been declining as more customers choose our hosted and subscription offerings and we expect this trend to continue.", + "In our payments business we have recently begun focusing resources on core offerings for QuickBooks merchants in support of our small business ecosystem approach.", + "Over the next few quarters we anticipate declining revenue for certain non-QuickBooks payments offerings that may slow overall revenue growth in our payments business.", + "Fiscal 2014 Compared with Fiscal 2013 Small Business segment total net revenue increased $196 million or 10% in fiscal 2014 compared with fiscal 2013.", + "Customer acquisition in our Small Business Online Ecosystem continued to drive Small Business segment revenue growth in fiscal 2014.", + "QuickBooks Online customers grew 40%, online payroll customers grew 25%, and active online payments customers grew 4%.", + "Online payments charge volume was 24% higher in fiscal 2014 compared with fiscal 2013.", + "Annualized recurring revenue (ARR) for our Small Business Online Ecosystem grew 34% in fiscal 2014 compared with fiscal 2013.", + "In our Small Business Desktop Ecosystem, revenue from QuickBooks desktop software licenses declined 9% on 10% lower unit sales while revenue from QuickBooks Enterprise Solutions grew 25% and revenue from QuickBooks Plus subscriptions grew 16% in fiscal 2014.", + "Revenue for certain non-core payments offerings was lower in fiscal 2014.", + "Small Business segment operating income as a percentage of related revenue decreased in fiscal 2014 compared with fiscal 2013.", + "The increase in segment revenue described above was partially offset by $73 million in higher staffing expenses due to an increase in headcount and $35 million in higher advertising and other marketing program expenses.", + "Fiscal 2013 Compared with Fiscal 2012 Small Business segment total net revenue increased $278 million or 16% in fiscal 2013 compared with fiscal 2012.", + "When adjusted to exclude revenue from Demandforce, which we acquired in May 2012, Small Business segment revenue was 12% higher in fiscal 2013.", + "Customer acquisition in our Small Business Online Ecosystem drove organic Small Business segment revenue growth in fiscal 2013.", + "QuickBooks Online customers grew 28%, online payroll customers grew 18%, and active online payments customers grew 21%.", + "Online payments charge volume was 37% higher in fiscal 2013 compared with fiscal 2012.", + "In our Small Business Desktop Ecosystem, revenue from QuickBooks desktop software licenses was flat on 6% lower unit sales while revenue from QuickBooks Enterprise Solutions grew 10% and revenue from QuickBooks Plus subscriptions more than doubled in fiscal 2013.", + "Small Business segment operating income as a percentage of related revenue decreased slightly in fiscal 2013 compared with fiscal 2012.", + "The increase in segment revenue described above was partially offset by higher segment costs and expenses that included costs and expenses for Demandforce.", + "Fiscal 2013 staffing expenses were about $100 million higher, driven by an increase in headcount.", + "Advertising and other marketing program expenses also increased.", + "Consumer", + "|(Dollars in millions)|Fiscal2014|Fiscal2013|Fiscal2012|2014-2013% Change|2013-2012% Change|\n|Product revenue|$309|$324|$334|||\n|Service and other revenue|1,522|1,384|1,307|||\n|Total segment revenue|$1,831|$1,708|$1,641|7%|4%|\n|% of total revenue|41%|41%|43%|||\n|Segment operating income|$1,139|$1,035|$965|10%|7%|\n|% of related revenue|62%|61%|59%|||\n", + "Our Consumer segment includes our Consumer Tax and Consumer Ecosystem product lines.", + "Consumer Tax service and other revenue is derived primarily from TurboTax Online tax return preparation services and electronic tax filing services.", + "Consumer Tax product revenue is derived primarily from TurboTax desktop tax return preparation software.", + "Consumer Ecosystem product revenue is derived primarily from Quicken desktop personal finance software products.", + "Consumer Ecosystem service and other revenue is derived primarily from mobile and online consumer finance offerings as well as from online lead generation fees from our Mint personal finance offerings.", + "2.", + "Fair Value Measurements Fair Value Hierarchy The authoritative guidance defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.", + "When determining fair value, we consider the principal or most advantageous market for an asset or liability and assumptions that market participants would use when pricing the asset or liability.", + "In addition, we consider and use all valuation methods that are appropriate in estimating the fair value of an asset or liability.", + "The authoritative guidance establishes a fair value hierarchy that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities.", + "In general, the authoritative guidance requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.", + "An asset or liability\u2019s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the measurement of its fair value.", + "The three levels of input defined by the authoritative guidance are as follows: ?", + "Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. ?", + "Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data.", + "These include quoted prices in active markets for similar assets or liabilities: quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data for substantially the full term of the assets or liabilities. ?", + "Level 3 uses one or more unobservable inputs that are supported by little or no market activity and that are significant to the determination of fair value.", + "Level 3 assets and liabilities include those whose fair values are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation.", + "Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes financial assets and financial liabilities that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above.", + "||At July 31, 2014|At July 31, 2013|\n|(In millions)|Level 1|Level 2|Level 3|TotalFair Value|Level 1|Level 2|Level 3|TotalFair Value|\n|Assets:|||||||||\n|Cash equivalents, primarily money market funds|$652|$\u2014|$\u2014|$652|$917|$\u2014|$\u2014|$917|\n|Available-for-sale debt securities:|||||||||\n|Municipal bonds|\u2014|701|\u2014|701|\u2014|489|\u2014|489|\n|Municipal auction rate securities|\u2014|\u2014|21|21|\u2014|\u2014|33|33|\n|Corporate notes|\u2014|466|\u2014|466|\u2014|269|\u2014|269|\n|U.S. agency securities|\u2014|42|\u2014|42|\u2014|69|\u2014|69|\n|Available-for-sale corporate equity securities|\u2014|\u2014|\u2014|\u2014|33|\u2014|\u2014|33|\n|Total available-for-sale securities|\u2014|1,209|21|1,230|33|827|33|893|\n|Total assets measured at fair value on a recurring basis|$652|$1,209|$21|$1,882|$950|$827|$33|$1,810|\n|Liabilities:|||||||||\n|Senior notes -1|$\u2014|$556|$\u2014|$556|$\u2014|$560|$\u2014|$560|\n", + "(1) Carrying value on our balance sheets at July 31, 2014 was $499 million and at July 31, 2013 was $499 million.", + "See Note 9.", + "Table of Contents VALERO ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Commodity Price Risk We are exposed to market risks related to the volatility in the price of crude oil, refined products (primarily gasoline and distillate), grain (primarily corn), and natural gas used in our operations.", + "To reduce the impact of price volatility on our results of operations and cash flows, we use commodity derivative instruments, including futures, swaps, and options.", + "We use the futures markets for the available liquidity, which provides greater flexibility in transacting our hedging and trading operations.", + "We use swaps primarily to manage our price exposure.", + "Our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors.", + "For risk management purposes, we use fair value hedges, cash flow hedges, and economic hedges.", + "In addition to the use of derivative instruments to manage commodity price risk, we also enter into certain commodity derivative instruments for trading purposes.", + "Our objective for entering into each type of hedge or trading derivative is described below.", + "Fair Value Hedges Fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories.", + "The level of activity for our fair value hedges is based on the level of our operating inventories, and generally represents the amount by which our inventories differ from our previous year-end LIFO inventory levels.", + "As of December 31, 2012, we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price.", + "The information presents the notional volume of outstanding contracts by type of instrument and year of maturity (volumes in thousands of barrels)." + ], + "question_id": "simplong-test-68", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the difference between the greatest Stores Opened in 2011 and 2010\uff1f", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "which resulted in charges for inventory write-downs, property and equipment impairments, employee termination benefits, intangible asset impairments and facility closure costs. ?", + "We ended fiscal 2011 with $1.1 billion of cash and cash equivalents, compared to $1.8 billion at the end of fiscal 2010.", + "Operating cash flow decreased to $1.2 billion in fiscal 2011 compared to fiscal 2010 operating cash flow of $2.2 billion due primarily to changes in working capital, while capital expenditures increased 21.0% to $744 million. ?", + "During fiscal 2011, we made four dividend payments totaling $0.58 per share, or $237 million in the aggregate. ?", + "We repurchased and retired 32.6 million shares at a cost of $1.2 billion during fiscal 2011.", + "Consolidated Results The following table presents selected consolidated financial data for each of the past three fiscal years ($ in millions, except per share amounts):", + "| Consolidated Performance Summary |2011 -1|2010 -2|2009 -3(4)|\n|Revenue|$50,272|$49,694|$45,015|\n|Revenue gain %|1.2%|10.4%|12.5%|\n|Comparable store sales % (decline) gain|-1.8%|0.6%|-1.3%|\n|Gross profit as % of revenue-5|25.1%|24.5%|24.4%|\n|SG&A as % of revenue-5|20.5%|19.9%|20.0%|\n|Operating income|$2,114|$2,235|$1,870|\n|Operating income as % of revenue|4.2%|4.5%|4.2%|\n|Net earnings|$1,277|$1,317|$1,003|\n|Diluted earnings per share|$3.08|$3.10|$2.39|\n", + "(1) Included within our operating income and net earnings for fiscal 2011 is $222 million ($147 million net of taxes) of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our businesses.", + "These charges resulted in a decrease in our operating income of 0.5% of revenue for the fiscal year.", + "(2) Included within our operating income and net earnings for fiscal 2010 is $52 million ($25 million net of taxes and noncontrolling interest) of restructuring charges recorded in the fiscal first quarter related to measures we took to restructure our businesses.", + "These charges resulted in a decrease in our operating income of 0.1% of revenue for the fiscal year.", + "(3) Included within our operating income and net earnings for fiscal 2009 is $78 million ($48 million net of tax) of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our businesses.", + "In addition, operating income is inclusive of goodwill and tradename impairment charges of $66 million ($64 net of tax) related to our former Speakeasy business.", + "Collectively, these charges resulted in a decrease in our operating income of 0.2% of revenue for the fiscal year.", + "(4) Included within our net earnings for fiscal 2009 is $111 million ($96 million net of tax) of investment impairment charges related to our investment in the common stock of CPW.", + "(5) Because retailers vary in how they record costs of operating their supply chain between cost of goods sold and SG&A, our gross profit rate and SG&A rate may not be comparable to other retailers\u2019 corresponding rates.", + "For additional information regarding costs classified in cost of goods sold and SG&A, refer to Note 1, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. Fiscal 2011 Results Compared With Fiscal 2010 Throughout fiscal 2011, the majority of geographic markets in which we operate generally continued to endure difficult and uncertain economic conditions.", + "In addition, customer appetite for certain product categories was below industry expectations.", + "Both of these factors had a direct bearing on our revenue.", + "We have responded to the current economic environment by closely managing our SG&A, as well as focusing on efforts to improve our gross profit.", + "The 1.2% revenue increase in fiscal 2011 resulted primarily from the net addition of 147 new stores during fiscal 2011 and the positive impact of foreign currency exchange rate fluctuations, partially offset by a comparable store sales decline.", + "The following table presents the Domestic segment\u2019s revenue mix percentages and comparable store sales percentage changes by revenue category in fiscal 2010 and 2009:", + "||Revenue Mix Summary Year Ended|Comparable Store Sales Summary Year Ended|\n||February 27, 2010|February 28, 2009|February 27, 2010|February 28, 2009|\n|Consumer electronics|39%|39%|1.1%|-5.8%|\n|Home office|34%|31%|12.8%|10.4%|\n|Entertainment|16%|19%|-13.2%|-5.9%|\n|Appliances|4%|5%|-4.2%|-15.4%|\n|Services|6%|6%|-1.1%|4.1%|\n|Other|1%|<1%|n/a|n/a|\n|Total|100%|100%|1.7%|-1.3%|\n", + "Our Domestic segment\u2019s comparable store sales gain in fiscal 2010 improved sequentially each quarter of the fiscal year due primarily to an increase in average ticket and reflected our market share gains.", + "The products having the largest effect on our Domestic segment\u2019s comparable store sales gain in fiscal 2010 were notebook computers, flat-panel televisions and mobile phones.", + "Stronger sales in these product categories were partially offset by comparable store sales declines in our entertainment revenue category.", + "Revenue from our Domestic segment\u2019s online operations increased 22% in fiscal 2010 and is incorporated in the table above.", + "The 1.1% comparable store sales gain in the consumer electronics revenue category was driven primarily by increases in the sales of flat-panel televisions as unit sales increases more than offset average selling price decreases, partially offset by declines in the sales of navigation products and MP3 players.", + "The 12.8% comparable store sales gain in the home office revenue category was primarily the result of continued growth in the sales of notebook computers, which benefited from the launch of a new operating system, as well as mobile phones, which included a full year of our Best Buy Mobile store\u0002within-a-store experience in all U. S. Best Buy stores, partially offset by declines in the sales of computer monitors.", + "The 13.2% comparable store sales decline in the entertainment revenue category was due principally to a decline in sales of video gaming, partially caused by industry-wide softness and a maturing product platform, as well as a continued decline in sales of DVDs and CDs.", + "The 4.2% comparable store sales decline in the appliances revenue category was due to a decrease in unit sales which more than offset increases in average selling prices.", + "The 1.1% comparable store sales decline in the services revenue category was due primarily to a decline in home theater installation, partially offset by modest increases in our sales of extended warranties.", + "Our Domestic segment experienced gross profit growth of $407 million in fiscal 2010, or 4.7% compared to fiscal 2009, due to increased revenue volumes.", + "The 0.4% of revenue decrease in the gross profit rate was due primarily to a change in revenue mix, which reduced the gross profit rate by 0.5% of revenue and resulted from a continued shift in the revenue mix to sales of lower-margin notebook computers, partially offset by additional mix shift into higher-margin mobile phones.", + "In addition, improved margin rate performance provided a 0.1% of revenue increase to the gross profit rate.", + "Despite revenue growth of 6.4%, our Domestic segment\u2019s SG&A grew only 3.1% or by $207 million.", + "Continued store openings and significant year over year performance improvements drove higher SG&A spend in fiscal 2010 for incentive pay, payroll and benefits and rent, partially offset by lower SG&A spend in various discretionary categories such as information technology and supply chain project expenditures, store reset and transformation costs, advertising and travel.", + "The 0.6% of revenue SG&A rate decline was primarily due to the reductions in discretionary categories discussed above, which collectively reduced the SG&A rate by 1.0% of revenue.", + "The overall leveraging impact of higher comparable store sales on payroll and benefits further reduced the SG&A rate by 0.2% of revenue.", + "However, we had higher incentive pay expense due to improvements in performance in fiscal 2010 and no incentive pay expense in the prior year, which collectively offset the SG&A rate improvement by 0.6% of revenue.", + "The following table reconciles our International segment stores open at the end of each of the last three fiscal years:", + "| | Fiscal 2009 Total Stores at End of Fiscal Year | Fiscal 2010| Fiscal 2011|\n| | Stores Opened |Stores Closed| Total Stores at End of Fiscal Year | Stores Opened |Stores Closed| Total Stores at End of Fiscal Year |\n|Best Buy Europe \u2014 small box-1|2,465|82|-94|2,453|86|-99|2,440|\n|Best Buy Europe \u2014 big box-2|\u2014|\u2014|\u2014|\u2014|6|\u2014|6|\n|Canada||||||||\n|Future Shop|139|5|\u2014|144|2|\u2014|146|\n|Best Buy|58|6|\u2014|64|7|\u2014|71|\n|Best Buy Mobile|3|1|\u2014|4|6|\u2014|10|\n|China||||||||\n|Five Star|164|6|-12|158|12|-4|166|\n|Best Buy-3|5|1|\u2014|6|2|\u2014|8|\n|Mexico||||||||\n|Best Buy|1|4|\u2014|5|1|\u2014|6|\n|Turkey||||||||\n|Best Buy-3|\u2014|1|\u2014|1|1|\u2014|2|\n|Total International segment stores|2,835|106|-106|2,835|123|-103|2,855|\n", + "(1) Represents The Carphone Warehouse and The Phone House small-format stores.", + "(2) Represents Best Buy branded large-format stores in the U. K. (3) On February 21, 2011, we announced plans to exit the Turkey market and restructure the Best Buy branded stores in China during fiscal 2012.", + "Fiscal 2011 Results Compared With Fiscal 2010 While challenging economic conditions persisted in fiscal 2011 in many of the countries in which we operate, our International segment continued to grow revenue and experienced a comparable store sales gain for the year.", + "A decline in operating income was due principally to the impact of the restructuring activities in fiscal 2011.", + "Excluding the impact of foreign currency exchange rate fluctuations, the International segment experienced gross profit improvements with only a modest increase in SG&A.", + "Continued growth in consumer spending and temporary government stimulus programs contributed to stronger sales and improved operating income in our China operations, particularly in our Five Star business.", + "Our Canada operations faced many of the same market conditions and factors affecting the U. S. consumer electronics industry, with the adoption of new technology and the timing of product life-cycles continuing to play an important role in revenue trends.", + "Similarly, our Europe operations saw the impacts from a constrained economy, but continued to benefit from higher Best Buy Mobile profit share-based management fees paid in fiscal 2011.", + "The 5.7% increase in revenue for fiscal 2011 was due to the positive impact of foreign currency exchange rate fluctuations (mainly related to the Canadian dollar), the impact of net new stores opened during fiscal 2011, and a 2.4% comparable store sales gain, partially offset by the impact of having one less week of revenue in Europe and a decline in sales in non\u0002comparable sales channels.", + "The increase in comparable store sales in fiscal 2011 was the result of gains in China and Europe, partially offset by a decline in Canada.", + "Hologic, Inc. Notes to Consolidated Financial Statements (continued) (In thousands, except per share data) Fiscal 2007 Acquisition: Acquisition of BioLucent, Inc. On September 18, 2007 the Company completed the acquisition of BioLucent, Inc. (\u201cBioLucent\u201d) pursuant to a definitive agreement dated June 20, 2007.", + "The results of operations for BioLucent have been included in the Company\u2019s consolidated financial statements from the date of acquisition as part of its Mammography/Breast Care business segment.", + "The Company has concluded that the acquisition of BioLucent does not represent a material business combination and therefore no pro forma financial information has been provided herein.", + "BioLucent, previously located in Aliso Viejo, California, develops, markets and sells MammoPad breast cushions to decrease the discomfort associated with mammography.", + "Prior to the acquisition, BioLucent\u2019s primary research and development efforts were directed at its brachytherapy business which was focused on breast cancer therapy.", + "Prior to the acquisition, BioLucent spun-off its brachytherapy technology and business to the holders of BioLucent\u2019s outstanding shares of capital stock.", + "As a result, the Company only acquired BioLucent\u2019s MammoPad cushion business and related assets.", + "The Company invested $1,000 directly in the spun-off brachytherapy business in exchange for shares of preferred stock issued by the new business.", + "The aggregate purchase price for BioLucent was approximately $73,200, consisting of approximately $6,800 in cash and 2,314 shares of Hologic Common Stock valued at approximately $63,200, debt assumed and paid off of approximately $1,600 and approximately $1,600 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.", + "The acquisition also provides for up to two annual earn-out payments not to exceed $15,000 in the aggregate based on BioLucent\u2019s achievement of certain revenue targets.", + "The Company has considered the provision of EITF Issue No.95-8, Accounting for Contingent Consideration Paid to the Shareholders of an Acquired Enterprise in a Purchase Business Combination, and concluded that this contingent consideration will represent additional purchase price.", + "As a result, goodwill will be increased by the amount of the additional consideration, if any, when it becomes due and payable.", + "As of September 27, 2008, the Company has not recorded any amounts for these potential earn-outs.", + "The allocation of the purchase price is based upon estimates of the fair value of assets acquired and liabilities assumed as of September 18, 2007.", + "The components and allocation of the purchase price consists of the following approximate amounts:" + ], + "question_id": "simplong-test-69", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Target date/risk of FXimpact, Operating leases of Thereafter, and Principal of Total ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Long-term product offerings include alpha-seeking active and index strategies.", + "Our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile, and leverage fundamental research and 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.", + "Although many clients use both alpha-seeking 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, or may use a combination of index strategies to target active returns.", + "In addition, institutional non-ETF index assignments tend to be very large (multi-billion dollars) and typically reflect low fee rates.", + "Net flows in institutional index products generally have a small impact on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2017 equity AUM totaled $3.372 trillion, reflecting net inflows of $130.1 billion.", + "Net inflows included $174.4 billion into iShares ETFs, driven by net inflows into Core funds and broad developed and emerging market equities, partially offset by non-ETF index and active net outflows of $25.7 billion and $18.5 billion, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s equity AUM is tied to international markets, including emerging markets, which tend to have higher fee rates than U. S. equity strategies.", + "Accordingly, fluctuations in international equity markets, which may not consistently move in tandem with U. S. markets, have a greater impact on BlackRock\u2019s equity revenues and effective fee rate.", + "Fixed Income Fixed income AUM ended 2017 at $1.855 trillion, reflecting net inflows of $178.8 billion.", + "In 2017, active net inflows of $21.5 billion were diversified across fixed income offerings, and included strong inflows into municipal, unconstrained and total return bond funds.", + "iShares ETFs net inflows of $67.5 billion were led by flows into Core, corporate and treasury bond funds.", + "Non-ETF index net inflows of $89.8 billion were driven by demand for liability-driven investment solutions.", + "Multi-Asset BlackRock\u2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities, bonds, currencies 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 AUM for 2017 are presented below.", + "|(in millions)|December 31,2016|Net inflows (outflows)|Marketchange|FXimpact|December 31,2017|\n|Asset allocation and balanced|$176,675|$-2,502|$17,387|$4,985|$196,545|\n|Target date/risk|149,432|23,925|24,532|1,577|199,466|\n|Fiduciary|68,395|-1,047|7,522|8,819|83,689|\n|FutureAdvisor-1|505|-46|119|\u2014|578|\n|Total|$395,007|$20,330|$49,560|$15,381|$480,278|\n", + "(1) FutureAdvisor amounts do not include AUM held in iShares ETFs.", + "Multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $18.9 billion of net inflows coming from institutional clients.", + "Defined contribution plans of institutional clients remained a significant driver of flows, and contributed $20.8 billion to institutional multi-asset net inflows in 2017, primarily into target date and target risk product offerings.", + "Retail net inflows of $1.1 billion reflected demand for our Multi-Asset Income fund family, which raised $5.8 billion in 2017.", + "The Company\u2019s multi-asset strategies include the following: ?", + "Asset allocation and balanced products represented 41% of multi-asset AUM at year-end.", + "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 and Multi-Asset Income fund families. ?", + "Target date and target risk products grew 16% organically in 2017, with net inflows of $23.9 billion.", + "Institutional investors represented 93% of target date and target risk AUM, with defined contribution plans accounting for 87% of AUM.", + "Flows were driven by defined contribution investments in our LifePath offerings.", + "LifePath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor\u2019s expected retirement timing.", + "Underlying investments are primarily index products. ?", + "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 investment management.", + "These customized services require strong partnership with the clients\u2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives.", + "not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at December 31, 2017.", + "The 2017 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities.", + "At December 31, 2017, the Company had no amount outstanding under the 2017 credit facility Commercial Paper Program.", + "The Company can issue unsecured commercial paper notes (the \u201cCP Notes\u201d) on a private-placement basis up to a maximum aggregate amount outstanding at any time of $4.0 billion.", + "The commercial paper program is currently supported by the 2017 credit facility.", + "At December 31, 2017, BlackRock had no CP Notes outstanding Long-Term Borrowings The carrying value of long-term borrowings at December 31, 2017 included the following:", + "|(in millions)|Maturity Amount|Carrying Value|Maturity|\n|5.00% Notes|$1,000|$999|December 2019|\n|4.25% Notes|750|747|May 2021|\n|3.375% Notes|750|746|June 2022|\n|3.50% Notes|1,000|994|March 2024|\n|1.25% Notes-1|841|835|May 2025|\n|3.20% Notes|700|693|March 2027|\n|Total Long-term Borrowings|$5,041|$5,014||\n", + "(1) The carrying value of the 1.25% Notes estimated using foreign exchange rate as of December 31, 2017.", + "For more information on Company\u2019s borrowings, see Note 12, Borrowings, in the notes to the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Contractual Obligations, Commitments and Contingencies The following table sets forth contractual obligations, commitments and contingencies by year of payment at December 31, 2017:", + "|(in millions)|2018|2019|2020|2021|2022|Thereafter-1|Total|\n|Contractual obligations and commitments-1:||||||||\n|Long-term borrowings-2:||||||||\n|Principal|$\u2014|$1,000|$\u2014|$750|$750|$2,541|$5,041|\n|Interest|175|175|125|109|81|185|850|\n|Operating leases|141|132|126|118|109|1,580|2,206|\n|Purchase obligations|128|101|29|22|19|28|327|\n|Investment commitments|298|\u2014|\u2014|\u2014|\u2014|\u2014|298|\n|Total contractual obligations and commitments|742|1,408|280|999|959|4,334|8,722|\n|Contingent obligations:||||||||\n|Contingent payments related to business acquisitions-3|33|179|39|34|\u2014|\u2014|285|\n|Total contractual obligations, commitments andcontingent obligations-4|$775|$1,587|$319|$1,033|$959|$4,334|$9,007|\n", + "(1) Amounts do not include $350 million of cash payment consideration and contingent consideration related to the Company\u2019s agreement to acquire the asset management business of Citibanamex.", + "(2) The amount of principal and interest payments for the 2025 Notes (issued in Euros) represents the expected payment amounts using foreign exchange rates as of December 31, 2017.", + "(3) The amount of contingent payments reflected for any year represents the expected payments using foreign currency exchange rates as of December 31, 2017.", + "The fair value of the remaining aggregate contingent payments at December 31, 2017 totaled $236 million and is included in other liabilities on the consolidated statements of financial condition.", + "(4) At December 31, 2017, the Company had approximately $365 million of net unrecognized tax benefits.", + "Due to the uncertainty of timing and amounts that will ultimately be paid, this amount has been excluded from the table above.", + "Operating Leases.", + "The Company leases its primary office locations under agreements that expire on varying dates through 2043.", + "In connection with certain lease agreements, the Company is responsible for escalation payments.", + "The contractual obligations table above includes only guaranteed minimum lease payments for such leases and does not project potential escalation or other lease-related payments.", + "These leases are classified as operating leases and, as such, are not recorded as liabilities on the consolidated statements of financial condition.", + "In May 2017, the Company entered into an agreement with 50 HYMC Owner LLC, for the lease of approximately 847,000 square feet of office space located at 50 Hudson Yards, New York, New York.", + "The term of the lease is twenty years from the date that rental payments begin, expected to occur in", + "McKESSON CORPORATION FINANCIAL REVIEW (Continued) 46 In July 2008, the Board authorized the retirement of shares of the Company\u2019s common stock that may be repurchased from time-to-time pursuant to its stock repurchase program.", + "During the second quarter of 2009, all of the 4 million repurchased shares, which we purchased for $204 million, were formally retired by the Company.", + "The retired shares constitute authorized but unissued shares.", + "We elected to allocate any excess of share repurchase price over par value between additional paid-in capital and retained earnings.", + "As such, $165 million was recorded as a decrease to retained earnings.", + "The Company anticipates that it will continue to pay quarterly cash dividends in the future.", + "However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company\u2019s future earnings, financial condition, capital requirements and other factors.", + "Although we believe that our operating cash flow, financial assets, current access to capital and credit markets, including our existing credit and sales facilities, will give us the ability to meet our financing needs for the foreseeable future, there can be no assurance that continued or increased volatility and disruption in the global capital and credit markets will not impair our liquidity or increase our costs of borrowing.", + "Selected Measures of Liquidity and Capital Resources:" + ], + "question_id": "simplong-test-70", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage change in weighted average common shares outstanding for diluted computations from 2015 to 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "We have unrealized losses relating to certain available-for-sale investments included in our decommissioning trust fund, recorded as regulatory assets as discussed above.", + "Decommissioning will not occur until the operating license for our nuclear energy center expires.", + "Ameren Missouri submitted a license extension application to the NRC to extend the Callaway energy center\u2019s operating license to 2044.", + "The following table presents the fair value and the gross unrealized losses of the available-for-sale securities held in Ameren Missouri\u2019s nuclear decommissioning trust fund.", + "They are aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013:", + "||Less than 12 Months|12 Months or Greater Fair Value||Total|\n||Fair Value|GrossUnrealizedLosses|Gross Unrealized Losses|Fair Value|GrossUnrealizedLosses|\n|Debt securities|$72|$2|$(a)|$(a)|$72|$2|\n|Equity securities|6(a)||7|4|13|4|\n|Total|$78|$2|$7|$4|$85|$6|\n", + "(a) Amount less than $1 million.", + "NOTE 10 \u2013 CALLAWAY ENERGY CENTER Under the NWPA, the DOE is responsible for disposing of spent nuclear fuel from the Callaway energy center and other commercial nuclear energy centers.", + "Under the NWPA, Ameren and other utilities that own and operate those energy centers are responsible for paying the disposal costs.", + "The NWPA established the fee that these utilities pay the federal government for disposing of the spent nuclear fuel at one mill, or one-tenth of one cent, for each kilowatthour generated by those plants and sold.", + "The NWPA also requires the DOE to review the nuclear waste fee against the cost of the nuclear waste disposal program and to propose to the United States Congress any fee adjustment necessary to offset the costs of the program.", + "As required by the NWPA, Ameren Missouri and other utilities have entered into standard contracts with the federal government.", + "The government, represented by the DOE, is responsible for implementing these provisions of the NWPA.", + "Consistent with the NWPA and its standard contract, Ameren Missouri collects one mill from its electric customers for each kilowatthour of electricity that it generates and sells from its Callaway energy center.", + "Although both the NWPA and the standard contract stated that the federal government would begin to dispose of spent nuclear fuel by 1998, the federal government is not meeting its disposal obligation.", + "Ameren Missouri has sufficient installed capacity at the Callaway energy center to store its spent nuclear fuel generated through 2020, and it has the capability for additional storage capacity for spent nuclear fuel generated through the end of the energy center\u2019s current licensed life.", + "The DOE\u2019s delay in carrying out its obligation to dispose of spent nuclear fuel from the Callaway energy center is not expected to adversely affect the continued operations of the energy center.", + "In January 2009, the federal government announced that a spent nuclear fuel repository at Yucca Mountain, Nevada was unworkable.", + "The federal government took steps to terminate the Yucca Mountain program, while acknowledging its continuing obligation to dispose of utilities\u2019 spent nuclear fuel.", + "In January 2013, the DOE issued its plan for the management and disposal of spent nuclear fuel.", + "The DOE\u2019s plan calls for a pilot interim storage facility to begin operation with an initial focus on accepting spent nuclear fuel from shutdown reactor sites by 2021.", + "By 2025, a larger interim storage facility would be available, co\u0002located with the pilot facility.", + "The plan also proposes to site a permanent geological repository by 2026, to characterize the site and to design and to license the repository by 2042, and to begin operation by 2048.", + "In view of the federal government\u2019s efforts to terminate the Yucca Mountain program, the Nuclear Energy Institute, a number of individual utilities, and the National Association of Regulatory Utility Commissioners sued the DOE in the United States Court of Appeals for the District of Columbia Circuit, seeking the suspension of the one mill nuclear waste fee, alleging that the DOE failed to undertake an appropriate fee adequacy review reflecting the current unsettled state of the nuclear waste program.", + "In a June 2012 decision, the court ruled that DOE\u2019s fee adequacy review was legally inadequate and remanded the matter to the DOE.", + "Although the court ruled it has the power to direct the DOE to suspend the fee, the court decided that it was premature to do so.", + "Instead, the court ordered the DOE to provide within six months a revised assessment of the amount that should be collected.", + "In January 2013, the DOE issued the revised assessment required by the court.", + "The DOE determined that \u201cneither insufficient nor excess revenues are being collected,\u201d and it proposed no adjustment to the one mill nuclear waste fee.", + "In November 2013, the court rejected the DOE\u2019s revised assessment and ordered the DOE to submit a proposal to the United States Congress to reduce the fee to zero.", + "The DOE filed for rehearing, however there is no deadline for the court to act.", + "In January 2014, the DOE, pursuant to the court\u2019s November 2013 order, submitted to Congress a proposal to reduce the fee to zero.", + "As a result of the DOE\u2019s failure to begin to dispose of the utilities\u2019 spent nuclear fuel and fulfill its contractual obligations, Ameren Missouri and other nuclear energy center owners have also sued the DOE to recover costs incurred for ongoing storage of their spent fuel.", + "Ameren Missouri filed a breach of contract lawsuit to recover costs that it incurred through 2009.", + "It sought reimbursement for", + "Transmission Facilities The company\u2019s transmission facilities are located in New York City and Westchester, Orange, Rockland, Putnam and Dutchess counties in New York State.", + "At December 31, 2016, CECONY owned or jointly owned 438 miles of overhead circuits operating at 138, 230, 345 and 500 kV and 749 miles of underground circuits operating at 69, 138 and 345 kV.", + "The company\u2019s 39 transmission substations and 62 area stations are supplied by circuits operated at 69 kV and above.", + "For information about transmission projects to address, among other things, reliability concerns associated with the scheduled closure of the Indian Point Energy Center (which is owned by Entergy Corporation subsidiaries) see \u201cCECONY \u2013 Electric Operations \u2013 Electric Supply\u201d and \u201cCon Edison Transmission,\u201d below.", + "CECONY\u2019s transmission facilities interconnect with those of National Grid, Central Hudson Gas & Electric Corporation, O&R, New York State Electric & Gas, Connecticut Light & Power Company, Long Island Power Authority, NYPA and Public Service Electric and Gas Company.", + "Generating Facilities CECONY\u2019s electric generating facilities consist of plants located in Manhattan whose primary purpose is to produce steam for the company's steam business.", + "The facilities have an aggregate capacity of 726 MW.", + "The company expects to have sufficient amounts of gas and fuel oil available in 2017 for use in these facilities.", + "Electric Sales and Deliveries CECONY delivers electricity to its full-service customers who purchase electricity from the company.", + "The company also delivers electricity to its customers who choose to purchase electricity from other suppliers (retail choice program).", + "In addition, the company delivers electricity to state and municipal customers of NYPA and economic development customers of municipal electric agencies.", + "The company charges all customers in its service area for the delivery of electricity.", + "The company generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the electricity it sells.", + "CECONY\u2019s electric revenues are subject to a revenue decoupling mechanism.", + "As a result, its electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "CECONY\u2019s electric sales and deliveries for the last five years were", + "||Year Ended December 31,|\n||2012|2013|2014|2015|2016|\n|Electric Energy Delivered(millions of kWh)||||||\n|CECONY full service customers|20,622|20,118|19,757|20,206|19,886|\n|Delivery service for retail choice customers|25,990|26,574|26,221|26,662|26,813|\n|Delivery service to NYPA customers and others|10,267|10,226|10,325|10,147|10,046|\n|Delivery service for municipal agencies|322|\u2014|\u2014|\u2014|\u2014|\n|Total Deliveries in Franchise Area|57,201|56,918|56,303|57,015|56,745|\n|Electric Energy Delivered($ in millions)||||||\n|CECONY full service customers|$4,731|$4,799|$5,023|$4,757|$4,404|\n|Delivery service for retail choice customers|2,750|2,683|2,646|2,714|2,768|\n|Delivery service to NYPA customers and others|596|602|625|600|610|\n|Delivery service for municipal agencies|10|\u2014|\u2014|\u2014|\u2014|\n|Other operating revenues|89|47|143|101|324|\n|Total Deliveries in Franchise Area|$8,176|$8,131|$8,437|$8,172|$8,106|\n|Average Revenue per kWh Sold(Cents)(a)||||||\n|Residential|25.6|27.0|28.9|26.3|24.9|\n|Commercial and Industrial|20.0|20.6|22.1|20.6|19.1|\n", + "(a) Includes Municipal Agency sales.", + "For further discussion of the company\u2019s electric operating revenues and its electric results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8.", + "Electric Peak Demand The electric peak demand in CECONY\u2019s service area occurs during the summer air conditioning season.", + "The weather during the summer of 2016 was cooler than design conditions.", + "CECONY\u2019s 2016 service area peak demand was 12,652 MW, which occurred on August 11, 2016.", + "The 2016 peak demand included an estimated 6,114 MW for", + "Additional information regarding our RSUs is shown in the table below.", + "||Twelve Months Ended July 31,|\n|(In millions)|2013|2012|2011|\n|Total fair value of RSUs vested|$224|$258|$150|\n|Share-based compensation for RSUs|$135|$106|$93|\n|Total tax benefit related to RSU share-based compensation expense|$46|$37|$33|\n|Cash tax benefits realized for tax deductions for RSUs|$77|$46|$36|\n", + "At July 31, 2013, there was $293 million of unrecognized compensation cost related to non-vested RSUs that we will amortize to expense in the future.", + "Unrecognized compensation cost will be adjusted for future changes in estimated forfeitures.", + "We expect to recognize that cost over a weighted average vesting period of 2.4 years.13.", + "Benefit Plans Executive Deferred Compensation Plan In December 2004 we initially adopted our 2005 Executive Deferred Compensation Plan, which became effective January 1, 2005.", + "We adopted this plan to meet the requirements for deferred compensation under Section 409A of the Internal Revenue Code.", + "The plan provides that executives who meet minimum compensation requirements are eligible to defer up to 75% of their salaries, bonuses and commissions.", + "We have agreed to credit the participants\u2019 contributions with earnings that reflect the performance of certain independent investment funds.", + "We may also make discretionary employer contributions to participant accounts in certain circumstances.", + "The timing, amounts and vesting schedules of employer contributions are at the sole discretion of the Compensation and Organizational Development Committee of our Board of Directors or its delegate.", + "The benefits under this plan are unsecured.", + "Participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with Intuit for any reason or at a later date to comply with the restrictions of Section 409A.", + "Discretionary company contributions and the related earnings vest completely upon the participant\u2019s disability, death or a change of control of Intuit.", + "Employer contributions to the plan were not significant for any period presented.", + "We had liabilities related to this plan of $64 million at July 31, 2013 and $56 million at July 31, 2012.", + "We have matched the plan liabilities with similar performing assets.", + "These assets are recorded in other long-term assets while liabilities related to obligations are recorded in other current liabilities on our balance sheets.401(k) Plan In the United States, employees who participate in the Intuit Inc. 401(k) Plan may currently contribute up to 30% of pre-tax compensation, subject to Internal Revenue Service limitations and the terms and conditions of the plan.", + "We match a portion of employee contributions, currently 125% up to six percent of salary, subject to Internal Revenue Service limitations.", + "Matching contributions were $44 million for the twelve months ended July 31, 2013; $38 million for the twelve months ended July 31, 2012; and $30 million for the twelve months ended July 31, 2011.14.", + "Litigation On January 13, 2012, two putative class actions were filed against Intuit Inc. in connection with our TurboTax income tax preparation software: Smith v. Intuit Inc. (U. S. District Court, Northern District of California) and Quildon v. Intuit Inc. (California Superior Court, Santa Clara County).", + "The plaintiffs in both cases had asserted that the fees charged for the refund processing service offered within TurboTax are \u201crefund anticipation loans\u201d and the disclosures about those fees do not comply with California and federal laws.", + "The Smith case was brought in federal court on behalf of a proposed nationwide class and subclasses; the Quildon case was brought in state court on behalf of a proposed California class and subclasses.", + "In January", + "benefits as an increase to earnings of $152 million ($0.50 per share) during the year ended December 31, 2016.", + "Additionally, we recognized additional income tax benefits as an increase to operating cash flows of $152 million during the year ended December 31, 2016.", + "The new accounting standard did not impact any periods prior to January 1, 2016, as we applied the changes in the ASU on a prospective basis.", + "In September 2015, the FASB issued ASU No.2015-16, Business Combinations (Topic 805), which simplifies the accounting for adjustments made to preliminary amounts recognized in a business combination by eliminating the requirement to retrospectively account for those adjustments.", + "Instead, adjustments will be recognized in the period in which the adjustments are determined, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date.", + "We adopted the ASU on January 1, 2016 and are prospectively applying the ASU to business combination adjustments identified after the date of adoption.", + "In November 2015, the FASB issued ASU No.2015-17, Income Taxes (Topic 740), which simplifies the presentation of deferred income taxes and requires that deferred tax assets and liabilities, as well as any related valuation allowance, be classified as noncurrent in our consolidated balance sheets.", + "We applied the provisions of the ASU retrospectively and reclassified approximately $1.6 billion from current to noncurrent assets and approximately $140 million from current to noncurrent liabilities in our consolidated balance sheet as of December 31, 2015.", + "Note 2 \u2013 Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):", + "||2016|2015|2014|\n|Weighted average common shares outstanding for basic computations|299.3|310.3|316.8|\n|Weighted average dilutive effect of equity awards|3.8|4.4|5.6|\n|Weighted average common shares outstanding for dilutedcomputations|303.1|314.7|322.4|\n", + "We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented.", + "Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method.", + "There were no anti-dilutive equity awards for the years ended December 31, 2016, 2015 and 2014.", + "Note 3 \u2013 Acquisitions and Divestitures Acquisitions Acquisition of Sikorsky Aircraft Corporation On November 6, 2015, we completed the acquisition of Sikorsky Aircraft Corporation and certain affiliated companies (collectively \u201cSikorsky\u201d) from United Technologies Corporation (UTC) and certain of UTC\u2019s subsidiaries.", + "The purchase price of the acquisition was $9.0 billion, net of cash acquired.", + "As a result of the acquisition, Sikorsky became a wholly\u0002owned subsidiary of ours.", + "Sikorsky is a global company primarily engaged in the research, design, development, manufacture and support of military and commercial helicopters.", + "Sikorsky\u2019s products include military helicopters such as the Black Hawk, Seahawk, CH-53K, H-92; and commercial helicopters such as the S-76 and S-92.", + "The acquisition enables us to extend our core business into the military and commercial rotary wing markets, allowing us to strengthen our position in the aerospace and defense industry.", + "Further, this acquisition will expand our presence in commercial and international markets.", + "Sikorsky has been aligned under our RMS business segment.", + "To fund the $9.0 billion acquisition price, we utilized $6.0 billion of proceeds borrowed under a temporary 364-day revolving credit facility (the 364-day Facility), $2.0 billion of cash on hand and $1.0 billion from the issuance of commercial paper.", + "In the fourth quarter of 2015, we repaid all outstanding borrowings under the 364-day Facility with the proceeds from the issuance of $7.0 billion of fixed interest-rate long-term notes in a public offering (the November 2015 Notes).", + "In the fourth quarter of 2015, we also repaid the $1.0 billion in commercial paper borrowings (see \u201cNote 10 \u2013 Debt\u201d)." + ], + "question_id": "simplong-test-71", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Mutual funds, Insurance and annuity products, Equity products and Fixed income products in 2018? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "In 2017, the company granted 440,076 shares of restricted Class A common stock and 7,568 shares of restricted stock units.", + "Restricted common stock and restricted stock units generally have a vesting period of two to four years.", + "The fair value related to these grants was $58.7 million, which is recognized as compensation expense on an accelerated basis over the vesting period.", + "Dividends are accrued on restricted Class A common stock and restricted stock units and are paid once the restricted stock vests.", + "In 2017, the company also granted 203,298 performance shares.", + "The fair value related to these grants was $25.3 million, which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period.", + "The vesting of these shares is contingent on meeting stated performance or market conditions.", + "The following table summarizes restricted stock, restricted stock units, and performance shares activity for 2017:", + "||Number of Shares|WeightedAverageGrant DateFair Value|\n|Outstanding at December 31, 2016|1,820,578|$98|\n|Granted|650,942|129|\n|Vested|-510,590|87|\n|Cancelled|-401,699|95|\n|Outstanding at December 31, 2017|1,559,231|116|\n", + "The total fair value of restricted stock, restricted stock units, and performance shares that vested during 2017, 2016 and 2015 was $66.0 million, $59.8 million and $43.3 million, respectively.", + "Under the ESPP, eligible employees may acquire shares of Class A common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration.", + "Shares are purchased at the end of each offering period at a price of 90% of the closing price of the Class A common stock as reported on the NASDAQ Global Select Market.", + "Compensation expense is recognized on the dates of purchase for the discount from the closing price.", + "In 2017, 2016 and 2015, a total of 19,936, 19,858 and 19,756 shares, respectively, of Class A common stock were issued to participating employees.", + "These shares are subject to a six-month holding period.", + "Annual expense of $0.3 million for the purchase discount was recognized in 2017, and $0.2 million was recognized in both 2016 and 2015.", + "Non-executive directors receive an annual award of Class A common stock with a value equal to $100,000.", + "Non-executive directors may also elect to receive some or all of the cash portion of their annual stipend, up to $60,000, in shares of stock based on the closing price at the date of distribution.", + "As a result, 19,736 shares, 26,439 shares and 25,853 shares of Class A common stock were issued to non-executive directors during 2017, 2016 and 2015, respectively.", + "These shares are not subject to any vesting restrictions.", + "Expense of $2.5 million, $2.4 million and $2.5 million related to these stock-based payments was recognized for the years ended December 31, 2017, 2016 and 2015, respectively.", + "Income Taxes The Company utilizes the asset and liability approach defined in SFAS No.109, \u201cAccounting for Income Taxes\u201d, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement amounts and the tax bases of assets and liabilities.", + "Earnings per Share (\u201cEPS\u201d) Basic EPS is calculated by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding.", + "Diluted EPS is similar to basic EPS, but adjusts for the effect of the potential issuance of common shares by application of the treasury stock method.", + "Reclassifications Certain revisions and reclassifications have been made to the consolidated financial statements of the prior years to conform to the current year presentation.", + "As a result, Financial Service Fees revenue and Investment Advisory Fees expense increased by approximately $12.8 million and $11.2 million, respectively, for the years ended September 30, 2006 and 2005.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "The Company also reclassified certain amounts from cash to segregated assets and reverse repurchase agreements on its 2006 and 2005 Consolidated Statements of Financial Condition and related cash flow activity on its 2006 and 2005 Consolidated Statements of Cash Flows.", + "For fiscal year 2006, $176.8 million was reclassified from cash to segregated assets and $72.5 million was reclassified from cash to securities purchased under agreements to resell.", + "For fiscal year 2005, $146.4 million was reclassified from cash to segregated assets and $137.3 million was reclassified from cash to securities purchased under agreements to resell.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "In the quarter ended September 30, 2007, a new segment was established: Proprietary Capital.", + "The components of this segment were previously included in the Asset Management and Other segments.", + "Reclassifications have been made in the segment disclosure for previous years to conform to this presentation.", + "Additional information is provided in Note 22 below.", + "NOTE 2 \u2013 TRADING INSTRUMENTS AND TRADING INSTRUMENTS SOLD BUT NOT YET PURCHASED:", + "||September 30, 2007|September 30, 2006|\n||Trading Instruments|Instruments Sold but Not Yet Purchased|Trading Instruments|Instruments Sold but Not Yet Purchased|\n||(in 000's)|\n|Marketable:|||||\n|Municipal Obligations|$ 200,024|$ 54|$ 192,028|$ 5|\n|Corporate Obligations|56,069|952|134,431|968|\n|Government Obligations|83,322|45,275|37,793|31,636|\n|Agencies|47,123|60,829|68,380|34,023|\n|Total Debt Securities|386,538|107,110|432,632|66,632|\n|Derivative Contracts|30,603|8,445|20,904|8,309|\n|Equity Securities|46,913|34,174|29,532|19,068|\n|Other Securities|3,707|-|2,703|-|\n|Total|$ 467,761|$ 149,729|$ 485,771|$ 94,009|\n", + "Mortgage backed securities of $48.9 million and $77.1 million at September 30, 2007 and September 30, 2006, respectively, are included in Corporate Obligations and Agencies in the table above.", + "Mortgage backed securities sold but not yet purchased of $60.8 million and $34 million at September 30, 2007 and September 30, 2006, respectively, are included in Agencies in the table above.", + "Net unrealized (losses) gains related to open trading positions at September 30, 2007, September 30, 2006, and September 30, 2005 were $(726,000), $4,387,000, and $(1,257,000), respectively.", + "NOTE 3 - AVAILABLE FOR SALE SECURITIES: Available for sale securities are comprised primarily of CMOs, mortgage related debt, and certain equity securities of the Company's non-broker-dealer subsidiaries, principally RJBank.", + "There were proceeds from the sale of available for sale securities of $81,000 for the year ended September 30, 2007, $252,000 for the year ended September 30, 2006 and $9,250,000 for the year ended September 30, 2005.", + "The realized gains and losses related to the sale of available for sale securities were immaterial to the consolidated financial statements for all years presented.", + "NOTE 15 - CAPITAL TRANSACTIONS: The following table presents information on a monthly basis for purchases of the Company\u2019s stock for the quarter ended September 30, 2007:", + "|Period|Number of Shares Purchased -1|Average Price Per Share|\n|July 1, 2007 \u2013 July 31, 2007|-|$ -|\n|August 1, 2007 \u2013 August 31, 2007|-|-|\n|September 1, 2007 \u2013 September 30, 2007|1,548|33.64|\n|Total|1,548|$33.64|\n", + "(1) The Company does not have a formal stock repurchase plan.", + "Shares are repurchased at the discretion of management pursuant to prior authorization from the Board of Directors.", + "On May 20, 2004, the Board of Directors authorized purchases of up to $75 million.", + "Since that date 461,500 shares have been repurchased for a total of $9.6 million, leaving $65.4 million available to repurchase shares.", + "Historically the Company has considered such purchases when the price of its stock approaches 1.5 times book value or when employees surrender shares as payment for option exercises.", + "The decision to repurchase shares is subject to cash availability and other factors.", + "During 2007 and 2006, 69,986 and 189,664 shares were repurchased at an average price of $31.54 and $28.97, respectively.", + "During the three months ended December 31, 2006, 42,618 shares were purchased for the trust fund that was established and funded to acquire Company common stock in the open market to be used to settle restricted stock units granted as a retention vehicle for certain employees of the Company\u2019s wholly owned Canadian subsidiary (see Note 17 below for more information on this trust fund).", + "With the exception of the shares purchased through this trust fund, the Company only purchased shares during the balance of the year that were surrendered by employees as a payment for option exercises.", + "NOTE 16 - OTHER COMPREHENSIVE INCOME: The activity in other comprehensive income and related tax effects are as follows:", + "||September 30, 2007|September 30, 2006|September 30, 2005|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Available for Sale Securities, Net of||||\n|Tax Effect Of -$1,217 in 2007, $129 in 2006, and $51 in 2005|$ -2,150|$ 217|$ 79|\n|Net Unrealized Gain on Interest Rate Swaps Accounted for as Cash Flow||||\n|Hedges, Net of Tax Effect of $0 in 2007, $28 in 2006, and||||\n|$566 in 2005|-|44|882|\n|Net Change in Currency Translations, Net of Tax Effect of $11,463 in||||\n|2007, $1,312 in 2006, and $3,078 in 2005|20,246|2,202|4,796|\n|Other Comprehensive Income|$ 18,096|$ 2,463|$ 5,757|\n", + "The components of accumulated other comprehensive income, net of income taxes:", + "||September 30, 2007|September 30, 2006|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Securities Available for Sale, Net of Tax Effect of ($998) in 2007|||\n|and $245 in 2006|$ -1,747|$ 403|\n|Net Currency Translations, Net of Tax Effect of $18,593 in 2007 and $7,285 in 2006|31,938|11,692|\n|Accumulated Other Comprehensive Income|$ 30,191|$ 12,095|\n", + "NOTE 17 - EMPLOYEE BENEFIT PLANS: The Company's profit sharing plan and employee stock ownership plan provide certain death, disability or retirement benefits for all employees who meet certain service requirements.", + "The plans are noncontributory.", + "Contributions by the Company, if any, are determined annually by the Company\u2019s Board of Directors on a discretionary basis and are recognized as compensation cost throughout the year.", + "Benefits become fully vested after seven years of qualified service.", + "All shares owned by the ESOP are included in earnings per share calculations.", + "Cash dividends paid to the ESOP are reflected as a reduction of", + "RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES Management's Discussion and Analysis 41 periods where equity markets improve, assets under administration and client activity generally increase, thereby having a favorable impact on net revenues.", + "We also earn certain servicing fees, such as omnibus and education and marketing support (\u201cEMS\u201d) fees from mutual fund and annuity companies whose products we distribute, and from banks to which we sweep client cash in the RJBDP.", + "Such fees are included in \u201cAccount and service fees.", + "\u201d Servicing fees earned by mutual fund and annuity companies are generally based on the level of assets or number of positions in such programs.", + "Fees earned from our RJBDP are generally based on client cash balances in the program, as well as the level of short-term interest rates relative to interest paid to clients on balances in the RJBDP.", + "Net interest revenue in the PCG segment is generated by interest earnings on margin loans provided to clients and on cash segregated pursuant to regulations, less interest paid on client cash balances.", + "Higher client cash balances generally lead to increased interest income, depending on spreads realized in our client interest program.", + "For more information on client cash balances, see our previous discussion of interest-earning assets and interest-bearing liabilities in the Net interest analysis section of this MD&A.", + "For an overview of our PCG segment operations, refer to the information presented in Item 1 \u201cBusiness\u201d of this Form 10-K. Operating results", + "||Year ended September 30,|% change|\n|$ in thousands|2018|2017|2016|2018 vs. 2017|2017 vs. 2016|\n|Revenues:||||||\n|Securities commissions and fees:||||||\n|Fee-based accounts|$2,540,336|$2,040,839|$1,589,124|24%|28%|\n|Mutual funds|641,603|646,614|631,102|-1%|2%|\n|Insurance and annuity products|413,591|385,493|377,329|7%|2%|\n|Equity products|325,514|303,015|240,855|7%|26%|\n|Fixed income products|112,509|118,062|95,908|-5%|23%|\n|New issue sales credits|47,200|72,281|44,088|-35%|64%|\n|Subtotal securities commissions and fees|4,080,753|3,566,304|2,978,406|14%|20%|\n|Interest income|193,105|152,711|107,281|26%|42%|\n|Account and service fees:||||||\n|Mutual fund and annuity service fees|331,543|290,661|255,405|14%|14%|\n|RJBDP fees - third-party banks|262,424|202,049|92,315|30%|119%|\n|Affiliate deposit account servicing fees from RJ Bank|91,720|67,981|43,145|35%|58%|\n|Client account and service fees|95,794|98,500|95,010|-3%|4%|\n|Client transaction fees and other|22,658|25,103|23,156|-10%|8%|\n|Subtotal account and service fees|804,139|684,294|509,031|18%|34%|\n|Other|42,834|34,279|32,000|25%|7%|\n|Total revenues|5,120,831|4,437,588|3,626,718|15%|22%|\n|Interest expense|-27,801|-15,955|-10,239|74%|56%|\n|Net revenues|5,093,030|4,421,633|3,616,479|15%|22%|\n|Non-interest expenses:||||||\n|Sales commissions|3,050,539|2,653,287|2,193,099|15%|21%|\n|Admin & incentive compensation and benefit costs|835,662|713,043|595,541|17%|20%|\n|Communications and information processing|234,300|193,902|166,507|21%|16%|\n|Occupancy and equipment costs|154,020|146,394|125,555|5%|17%|\n|Business development|115,056|98,138|88,535|17%|11%|\n|Jay Peak matter|\u2014|130,000|20,000|-100%|550%|\n|Other|127,359|113,919|86,678|12%|31%|\n|Total non-interest expenses|4,516,936|4,048,683|3,275,915|12%|24%|\n|Pre-tax income|$576,094|$372,950|$340,564|54%|10%|\n" + ], + "question_id": "simplong-test-72", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Amplifiers/Radio frequency in table 0 in the year with the most Converters in table 0?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The year-to-year increase in communications end market revenue in fiscal 2014 was primarily a result of increased wireless base station deployment activity and, to a lesser extent, an increase in revenue as a result of the Acquisition.", + "Industrial end market revenue increased year-over-year in fiscal 2014 as compared to fiscal 2013 as a result of an increase in demand in this end market, which was most significant for products sold into the instrumentation and automation sectors and, to a lesser extent, an increase in revenue as a result of the Acquisition.", + "The year-to-year increase in automotive end market revenue in fiscal 2014 was primarily a result of increasing electronic content in vehicles and higher demand for new vehicles.", + "The year-to\u0002year decrease in revenue in the consumer end market in fiscal 2014 was primarily the result of the sale of our microphone product line in the fourth quarter of fiscal 2013.", + "The year-to-year decrease in revenue in the industrial and consumer end markets in fiscal 2013 was primarily the result of a weak global economic environment and one less week of operations in fiscal 2013 as compared to fiscal 2012.", + "Automotive end market revenue increased in fiscal 2013 primarily as a result of increasing electronic content in vehicles.", + "Revenue Trends by Product Type The following table summarizes revenue by product categories.", + "The categorization of our products into broad categories is based on the characteristics of the individual products, the specification of the products and in some cases the specific uses that certain products have within applications.", + "The categorization of products into categories is therefore subject to judgment in some cases and can vary over time.", + "In instances where products move between product categories, we reclassify the amounts in the product categories for all prior periods.", + "Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each product category", + "||2014|2013|2012|\n||Revenue|% ofTotalProductRevenue*|Y/Y%|Revenue|% ofTotalProductRevenue*|Revenue|% ofTotalProductRevenue*|\n|Converters|$1,285,368|45%|9%|$1,180,072|45%|$1,192,064|44%|\n|Amplifiers/Radio frequency|806,975|28%|18%|682,759|26%|697,687|26%|\n|Other analog|356,406|12%|-4%|372,281|14%|397,376|15%|\n|Subtotal analog signal processing|2,448,749|85%|10%|2,235,112|85%|2,287,127|85%|\n|Power management & reference|174,483|6%|1%|172,920|7%|182,134|7%|\n|Total analog products|$2,623,232|92%|9%|$2,408,032|91%|$2,469,261|91%|\n|Digital signal processing|241,541|8%|7%|225,657|9%|231,881|9%|\n|Total Revenue|$2,864,773|100%|9%|$2,633,689|100%|$2,701,142|100%|\n", + "The sum of the individual percentages does not equal the total due to rounding.", + "The year-to-year increase in total revenue in fiscal 2014 as compared to fiscal 2013 was the result of improving demand across most product type categories and the result of the Acquisition, which was partially offset by declines in the other analog product category, primarily as a result of the sale of our microphone product line in the fourth quarter of fiscal 2013.", + "The year-to-year decrease in total revenue in fiscal 2013 as compared to fiscal 2012 was the result of one less week of operations in fiscal 2013 as compared to fiscal 2012 and a broad-based decrease in demand across most product type categories.", + "Revenue Trends by Geographic Region Revenue by geographic region, based upon the primary location of our customers' design activity for its products, for fiscal 2014, 2013 and 2012 was as follows.", + "ANALOG DEVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued)", + "|Stock Options|2014|2013|2012|\n|Options granted (in thousands)|2,240|2,407|2,456|\n|Weighted-average exercise price|$51.52|$46.40|$39.58|\n|Weighted-average grant-date fair value|$8.74|$7.38|$7.37|\n|Assumptions:||||\n|Weighted-average expected volatility|24.9%|24.6%|28.4%|\n|Weighted-average expected term (in years)|5.3|5.4|5.3|\n|Weighted-average risk-free interest rate|1.7%|1.0%|1.1%|\n|Weighted-average expected dividend yield|2.9%|2.9%|3.0%|\n", + "As it relates to our market-based restricted stock units, the Company utilizes the Monte Carlo simulation valuation model to value these awards.", + "The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the performance conditions stipulated in the award grant and calculates the fair market value for the market-based restricted stock units granted.", + "The Monte Carlo simulation model also uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions, including the possibility that the market condition may not be satisfied, and the resulting fair value of the award.", + "Information pertaining to the Company's market-based restricted stock units and the related estimated assumptions used to calculate the fair value of market-based restricted stock units granted using the Monte Carlo simulation model is as follows:", + "|Market-based Restricted Stock Units|2014|\n|Units granted (in thousands)|86|\n|Grant-date fair value|$50.79|\n|Assumptions:||\n|Historical stock price volatility|23.2%|\n|Risk-free interest rate|0.8%|\n|Expected dividend yield|2.8%|\n", + "Market-based restricted stock units were not granted during fiscal 2013 or 2012.", + "Expected volatility \u2014 The Company is responsible for estimating volatility and has considered a number of factors, including third-party estimates.", + "The Company currently believes that the exclusive use of implied volatility results in the best estimate of the grant-date fair value of employee stock options because it reflects the market\u2019s current expectations of future volatility.", + "In evaluating the appropriateness of exclusively relying on implied volatility, the Company concluded that: (1) options in the Company\u2019s common stock are actively traded with sufficient volume on several exchanges; (2) the market prices of both the traded options and the underlying shares are measured at a similar point in time to each other and on a date close to the grant date of the employee share options; (3) the traded options have exercise prices that are both near-the-money and close to the exercise price of the employee share options; and (4) the remaining maturities of the traded options used to estimate volatility are at least one year.", + "Expected term \u2014 The Company uses historical employee exercise and option expiration data to estimate the expected term assumption for the Black-Scholes grant-date valuation.", + "The Company believes that this historical data is currently the best estimate of the expected term of a new option, and that generally its employees exhibit similar exercise behavior.", + "Risk-free interest rate \u2014 The yield on zero-coupon U. S. Treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate.", + "Expected dividend yield \u2014 Expected dividend yield is calculated by annualizing the cash dividend declared by the Company\u2019s Board of Directors for the current quarter and dividing that result by the closing stock price on the date of grant.", + "Until such time as the Company\u2019s Board of Directors declares a cash dividend for an amount that is different from the current quarter\u2019s cash dividend, the current dividend will be used in deriving this assumption.", + "Cash dividends are not paid on options, restricted stock or restricted stock units.", + "an adverse development with respect to one claim in 2008 and favorable developments in three cases in 2009.", + "Other costs were also lower in 2009 compared to 2008, driven by a decrease in expenses for freight and property damages, employee travel, and utilities.", + "In addition, higher bad debt expense in 2008 due to the uncertain impact of the recessionary economy drove a favorable year-over-year comparison.", + "Conversely, an additional expense of $30 million related to a transaction with Pacer International, Inc. and higher property taxes partially offset lower costs in 2009.", + "Other costs were higher in 2008 compared to 2007 due to an increase in bad debts, state and local taxes, loss and damage expenses, utility costs, and other miscellaneous expenses totaling $122 million.", + "Conversely, personal injury costs (including asbestos-related claims) were $8 million lower in 2008 compared to 2007.", + "The reduction reflects improvements in our safety experience and lower estimated costs to resolve claims as indicated in the actuarial studies of our personal injury expense and annual reviews of asbestos-related claims in both 2008 and 2007.", + "The year-over-year comparison also includes the negative impact of adverse development associated with one claim in 2008.", + "In addition, environmental and toxic tort expenses were $7 million lower in 2008 compared to 2007.", + "Non-Operating Items" + ], + "question_id": "simplong-test-73", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all Year Ended October 31, that are in the range of 0 and 5 in 2017? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on November 1, 2010 or of results that may occur in the future.", + "|| Year Ended October 31,||\n|| 2012|| 2011||\n|| (in thousands)||\n|Revenue-1|$1,798,626||$1,682,036||\n|Net Income-1|$183,564|-2|$165,418|-2|\n", + "(1) Disclosure of the specific revenue contribution and net income of Magma subsequent to the acquisition, for the periods presented, is impracticable as the operations of Magma are integrated with the Company\u2019s operations and not separately tracked.", + "(2) 2012 supplemental pro forma net income was adjusted to exclude $33.5 million of acquisition\u0002related costs.", + "Corresponding periods of 2011 supplemental pro forma net income were adjusted to include these charges.", + "Other Fiscal 2012 Acquisitions During fiscal 2012, the Company acquired five other companies, including Emulation & Verification Engineering, S. A.", + "(EVE), for cash and preliminarily allocated the total purchase consideration of $212.9 million to the assets acquired and liabilities assumed based on their respective fair values at the acquisition dates, resulting in total goodwill of $123.4 million, of which $11.8 million is expected to be deductible for tax purposes.", + "Acquired identifiable intangible assets totaling $73.3 million were valued using appropriate valuation methods such as income or cost methods and are being amortized over their respective useful lives ranging from one to eight years.", + "During fiscal 2012, acquisition-related costs totaling $6.8 million were expensed as incurred in the consolidated statements of operations.", + "The Company continues to evaluate certain assets and liabilities related to business combinations completed within 12 months from the applicable acquisition date.", + "Additional information, which existed as of the acquisition date but is yet unknown to the Company, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date.", + "Changes to amounts recorded as assets or liabilities will be recorded as retrospective adjustments to the provisional amounts recognized as of the acquisition date and may result in a corresponding adjustment to goodwill.", + "Fiscal 2011 Acquisitions During fiscal 2011, the Company completed two acquisitions for cash and allocated the total purchase consideration of $37.4 million to the assets and liabilities acquired based on their respective fair values at the acquisition date resulting in goodwill of $30.6 million.", + "Acquired identifiable intangible assets of $9.3 million are being amortized over two to ten years.", + "Fiscal 2010 Acquisitions Virage Logic Corporation On September 2, 2010, the Company acquired all outstanding shares of Virage Logic Corporation (Virage).", + "Virage was a leading provider of embedded memories with test and repair, non-volatile memories (NVMs), logic libraries, and configurable cores for control and multimedia sub-systems.", + "The acquisition expanded the Company\u2019s DesignWare interface and analog IP portfolio.", + "Purchase Price.", + "Synopsys paid $12.00 per share for all outstanding shares, including vested awards of Virage for an aggregate cash payment of $299.5 million, net of cash acquired.", + "Additionally, the Company assumed unvested restricted stock units and stock appreciation rights, collectively called \u201cstock awards.", + "\u201d", + "Table of Contents SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued 54 Property and Equipment.", + "Property and equipment is recorded at cost less accumulated depreciation.", + "Assets, excluding land, are depreciated using the straight-line method over their estimated useful lives.", + "Leasehold improvements are amortized using the straight-line method over the remaining term of the lease or the economic useful life of the asset, whichever is shorter.", + "Depreciation expenses were $73.8 million, $71.1 million and $63.1 million in fiscal 2016, 2015 and 2014, respectively.", + "Repair and maintenance costs are expensed as incurred and such costs were $38.8 million, $32.3 million and $28.7 million in fiscal 2016, 2015 and 2014, respectively.", + "A summary of property and equipment, at cost less accumulated depreciation and amortization, as of October 31, 2016 and 2015 is as follows:", + "||October 31,|\n||2016|2015|\n||(in thousands)|\n|Computer and other equipment|$486,109|$436,425|\n|Buildings|68,194|67,943|\n|Furniture and fixtures|51,589|50,075|\n|Land|20,414|20,414|\n|Leasehold improvements|136,773|142,275|\n||763,079|717,132|\n|Less accumulated depreciation and amortization-1|-506,044|-454,055|\n|Total|$257,035|$263,077|\n", + "(1) Accumulated depreciation and amortization includes write-offs due to retirement of fully amortized fixed assets.", + "The useful lives of depreciable assets are as follows:", + "||Useful Life in Years|\n|Computer and other equipment|3-5|\n|Buildings|30|\n|Furniture and fixtures|5|\n|Leasehold improvements (average)|5|\n", + "Goodwill.", + "Goodwill represents the excess of the aggregate purchase price over the fair value of the net tangible and identifiable intangible assets acquired by the Company.", + "The carrying amount of goodwill is tested for impairment annually as of October 31 or more frequently if facts and circumstances warrant a review.", + "The Company determined that it is a single reporting unit for the purpose of goodwill impairment tests.", + "For purposes of assessing the impairment of goodwill, the Company estimates the value of the reporting unit using its market capitalization as the best evidence of fair value.", + "This fair value is then compared to the carrying value of the reporting unit.", + "During fiscal 2016, 2015 and 2014, there were no indicators of impairment to goodwill.", + "Intangible Assets.", + "Intangible assets consist of acquired technology, certain contract rights, customer relationships, trademarks and trade names, covenants not to compete, capitalized software, and in-process research and development.", + "These intangible assets are either acquired through business combinations, direct purchases, or internally developed capitalized software.", + "Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from one to ten years.", + "The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets, including property and equipment and intangible assets, may not be recoverable.", + "When such events or changes in circumstances occur, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such asset group will be recovered through the undiscounted future cash flow.", + "If the undiscounted future cash flow is less than the carrying amount of the asset group, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the asset group.", + "The Company had no impairments of any long-lived assets in fiscal 2016, 2015 or 2014.", + "The following is a summary of our restructuring activities:", + "|Fiscal Year|Balance at Beginning of Period|Costs Incurred (Reduced)|Cash Payments|Balance at End of Period|\n||(in millions)|\n|2017|$5.7|$36.6|$-24.8|$17.5|\n|2016|$\u2014|$9.6|$-3.9|$5.7|\n|2015|$\u2014|$15.1|$-15.1|$\u2014|\n", + "See Note 2 of Notes to Consolidated Financial Statements.", + "Other Income (Expense), Net", + "||Year Ended October 31,|$ Change|% Change|$ Change|% Change|\n||2017|2016|2015|2016 to 2017|2015 to 2016|\n||(dollars in millions)|\n|Interest income|$7.2|$3.7|$2.8|$3.5|95%|$0.9|32%|\n|Interest expense|-7.3|-3.8|-2.8|-3.5|92%|-1.0|36%|\n|Gain (loss) on assets related to executive deferred compensation plan|29.6|4.4|3.7|25.2|573%|0.7|19%|\n|Foreign currency exchange gain (loss)|3.4|0.2|6.3|3.2|1,600%|-6.1|-97%|\n|Other, net|2.6|7.7|5.1|-5.1|-66%|2.6|51%|\n|Total|$35.5|$12.2|$15.1|$23.3|191%|$-2.9|-19%|\n", + "The net increase in other income (expense) in fiscal 2017 as compared to fiscal 2016 was primarily due to higher gains in the market value of our executive deferred compensation plan assets.", + "The net decrease in other income (expense) in fiscal 2016 as compared to fiscal 2015 was primarily due to lower gains in foreign currency exchange as a result of the weakened U. S. dollar against the related foreign currencies, partially offset by increased income on foreign exchange hedging contracts that was recorded in Other, net.", + "Income Taxes Our effective tax rate for fiscal 2017 was 64.4%, which included income tax expense of $166.2 million relating to a repatriation of foreign earnings of $825 million in anticipation of potential U. S. corporate tax reform, $30.5 million due to an increase in valuation allowance on state deferred tax assets, a settlement with the Korean National Tax Service for the audit of fiscal years 2012 to 2016 of $7.9 million, and tax expense related to the integration of acquired technologies of $36.4 million.", + "These expenses were partially offset by excess tax benefits from stock-based compensation of $38.1 million, a U. S. federal research tax credit of $25.5 million, and a settlement with the Taiwanese tax authorities for fiscal 2014 of $10.9 million.", + "Our effective tax rate for fiscal 2016 was 19.0%, which included tax benefits from a settlement with the Internal Revenue Service (IRS) of $20.7 million for fiscal 2015 and the permanent reinstatement of the U. S. federal research tax credit of approximately $37.1 million, partially offset by tax expense from the integration of acquired technologies of $37.5 million, the impact of undistributed foreign earnings of $9.6 million, and an increase in the valuation allowance on deferred tax assets of $14.0 million as a result of changes in the expected utilization of state tax credits.", + "The reinstatement of the research tax credit resulted in an additional tax credit for ten months of fiscal 2015 and the full year of fiscal 2016, which was recorded in fiscal 2016.", + "Our effective tax rate for fiscal 2015 was 19.8%, which included tax expense from the integration of acquired technologies of $33.0 million partially offset by tax benefits from the reinstatement of the U. S. federal research tax credit of", + "VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 9.", + "Debt - continued Our revolving credit facility and senior unsecured notes contain financial covenants which require us to maintain minimum interest coverage ratios and limit our debt to market capitalization ratios.", + "We believe that we have complied with all of our financial covenants as of December 31, 2007.", + "On May 9, 2006, we executed supplemental indentures with respect to our senior unsecured notes due 2007, 2009 and 2010 (collectively, the \u201cNotes\u201d), pursuant to our consent solicitation statement dated April 18, 2006, as amended.", + "Holders of approximately 96.7% of the aggregate principal amount of the Notes consented to the solicitation.", + "The supplemental indentures contain modifications of certain covenants and related defined terms governing the terms of the Notes to make them consistent with corresponding provisions of the covenants and defined terms included in the senior unsecured notes due 2011 issued on February 16, 2006.", + "The supplemental indentures also include a new covenant that provides for an increase in the interest rate of the Notes upon certain decreases in the ratings assigned by rating agencies to the Notes.", + "In connection with the consent solicitation we paid an aggregate fee of $2,241,000 to the consenting note holders, which will be amortized into expense over the remaining term of the Notes.", + "In addition, we incurred advisory and professional fees aggregating $1,415,000, which were expensed in 2006.", + "The net carrying amount of properties collateralizing the notes and mortgages payable amounted to $10.920 billion at December 31, 2007.", + "As at December 31, 2007, the principal repayments required for the next five years and thereafter are as follows:" + ], + "question_id": "simplong-test-74", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio for unallocated items to the Other for selling, general and administrative expenses. in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Earnings from operations in 2017 increased by $4,444 million compared with 2016, primarily due to higher earnings at BCA and BDS, and higher unallocated pension income, which more than offset other unallocated items and eliminations.", + "BCA's 2017 earnings increased by $3,437 million primarily reflecting lower reach-forward losses, lower research and development costs, and improved margins reflecting favorable cost performance, which more than offset the impact of lower revenues.", + "In 2016, BCA recorded reach-forward losses of $1,258 million on the 747 program and reclassified $1,235 million of 787 flight test aircraft inventory costs to research and development expense.", + "BDS earnings from operations in 2017 increased by $257 million compared with 2016 primarily due to lower charges on the KC-46A Tanker and Commercial Crew programs, which more than offset the impact of fewer C-17 deliveries and Apache delivery mix.", + "Earnings from operations in 2016 decreased by $1,609 million compared with 2015 due to lower earnings at BCA, partially offset by the change in unallocated pension and postretirement income/(expense).", + "BCA earnings in 2016 decreased by $2,289 million primarily due to the reclassification of $1,235 million of 787 flight test aircraft costs to research and development and higher reach-forward losses on the 747 and KC-46ATanker programs.", + "The reclassification of flight test aircraft costs was recorded in the second quarter of 2016 as a result of our determination that two 787 flight test aircraft were no longer commercially saleable.", + "The change in the unallocated pension and postretirement income/(expense) in 2016 was primarily driven by lower service costs and lower amortization of actuarial losses.", + "During 2017, 2016 and 2015, we recorded reach-forward losses on the KC-46A Tanker program.", + "In 2017, we recorded charges of $471 million, of which $378 million was recorded at BCA and $93 million at BDS.", + "During 2016, we recorded charges of $1,128 million: $772 million at BCA and $356 million at BDS.", + "During 2015, we recorded charges of $835 million: $513 million at BCA and $322 million at BDS.", + "During 2016 and 2015 we recorded reach-forward losses on the 747 program of $1,258 million and $885 million.", + "Core operating earnings for 2017 increased by $3,506 million compared with 2016 primarily due to lower reach forward losses and the reclassification of costs related to the 787 flight test aircraft in 2016.", + "Core operating earnings in 2016 decreased by $2,227 million compared with 2015 primarily due to the reclassification of costs related to the 787 flight test aircraft and higher charges on the 747 and KC-46A Tanker programs described above.", + "Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other are shown in the following table:", + "|Years ended December 31,|2017|2016|2015|\n|Share-based plans|-$77|-$66|-$76|\n|Deferred compensation|-240|-46|-63|\n|Eliminations and other|-738|-621|-601|\n|Sub-total (included in core operating earnings*)|-1,055|-733|-740|\n|Pension|1,120|217|-421|\n|Postretirement|188|153|123|\n|Pension and other postretirement benefit income/(expense)(excluded from core operating earnings*)|1,308|370|-298|\n|Total unallocated items, eliminations and other|$253|-$363|-$1,038|\n", + "* Core operating earnings is a Non-GAAP measure that excludes certain components of pension and other postretirement benefit expense.", + "See pages 39 - 40.", + "Notes to the Financial Statements \u2014 Continued Note O \u2013 Derivative Instruments and Hedging Activities Con Edison\u2019s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.", + "Derivatives are recognized on the balance sheet at fair value (See Note P), unless an exception is available under the accounting rules for derivatives and hedging.", + "Qualifying derivative contracts that have been designated as normal purchases or normal sales contracts are not reported at fair value under the accounting rules.", + "The fair values of the Companies\u2019 commodity derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at December 31, 2014 and 2013 were:", + "| (Millions of Dollars)|2014|2013|\n| Balance Sheet Location|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|\n| Con Edison|||||||\n|Fair value of derivative assets|||||||\n|Current|$111|$-67|$44(b)|$134|$-77|$57(b)|\n|Non-current|34|-23|11|32|-24|8|\n|Total fair value of derivative assets|$145|$-90|$55|$166|$-101|$65|\n|Fair value of derivative liabilities|||||||\n|Current|$-242|$139|$-103|$-82|$72|$-10|\n|Non-current|-66|91|25|-31|26|-5|\n|Total fair value of derivative liabilities|$-308|$230|$-78|$-113|$98|$-15|\n|Net fair value derivative assets/(liabilities)|$-163|$140|$-23(b)|$53|$-3|$50(b)|\n| CECONY|||||||\n|Fair value of derivative assets|||||||\n|Current|$26|$-15|$11(b)|$27|$-19|$8(b)|\n|Non-current|22|-20|2|14|-13|1|\n|Total fair value of derivative assets|$48|$-35|$13|$41|$-32|$9|\n|Fair value of derivative liabilities|||||||\n|Current|$-96|$48|$-48|$-32|$21|$-11|\n|Non-current liabilities|-42|32|-10|-19|16|-3|\n|Total fair value of derivative liabilities|$-138|$80|$-58|$-51|$37|$-14|\n|Net fair value derivative assets/(liabilities)|$-90|$45|$-45(b)|$-10|$5|$-5(b)|\n", + "(a) Derivative instruments and collateral were set off on the consolidated balance sheet as applicable under the accounting rules.", + "The Companies enter into master agreements for their commodity derivatives.", + "These agreements typically provide setoff in the event of contract termination.", + "In such case, generally the non-defaulting party\u2019s payable will be set-off by the defaulting party\u2019s payable.", + "The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.", + "(b) At December 31, 2014 and 2013, margin deposits for Con Edison ($27 million and $17 million, respectively) and CECONY ($25 million and $16 million, respectively) were classified as derivative assets in the balance sheet, but not included in the table.", + "Margin is collateral, typically cash, that the holder of a derivative instrument is required to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.", + "The Utilities generally recover their prudently incurred fuel, purchased power and gas costs, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility regulators.", + "See \u201cRecoverable Energy Costs\u201d in Note A.", + "In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives.", + "As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies\u2019 consolidated income statements.", + "Con Edison\u2019s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in purchased power, gas purchased for resale and non-utility revenue in the reporting period in which they occur.", + "Management believes that these derivative instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.", + "acquire operations and facilities from municipalities and other local governments, as they increasingly seek to raise capital and reduce risk.", + "We realize synergies from consolidating businesses into our existing operations, whether through acquisitions or public-private partnerships, which allows us to reduce capital expenditures and expenses associated with truck routing, personnel, fleet maintenance, inventories and back-office administration.", + "Operating Model The goal of our operating model pillar is to deliver a consistent, high-quality service to all of our customers through the Republic Way: One Way.", + "Everywhere.", + "Every day.", + "This approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence.", + "The Republic Way is the key to harnessing the best of what we do as operators and translating that across all facets of our business.", + "A key enabler of the Republic Way is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management, supported by a functional structure to provide subject matter expertise.", + "This structure allows us to take advantage of our scale by coordinating functionally across all of our markets, while empowering local management to respond to unique market dynamics.", + "We have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way.", + "Fleet Automation Approximately 75% 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, decrease emissions 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 19% of our fleet operates on natural gas.", + "We expect to continue our gradual fleet conversion to CNG as part of our ordinary annual fleet replacement process.", + "We believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments.", + "Approximately 30% of our replacement vehicle purchases during 2017 were CNG vehicles.", + "We believe using CNG vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment.", + "Although upfront capital costs are higher, using CNG reduces our overall fleet operating costs through lower fuel expenses.", + "As of December 31, 2017, we operated 37 CNG fueling stations.", + "Standardized Maintenance Based on an industry trade publication, we operate the seventh largest vocational fleet in the United States.", + "As of December 31, 2017, our average fleet age in years, by line of business, was as follows:", + "||Approximate Number of Vehicles|Approximate Average Age|\n|Residential|7,200|7.5|\n|Small-container|4,600|7.1|\n|Large-container|4,100|8.8|\n|Total|15,900|7.7|\n", + "Landfill depletion and amortization expense increased primarily due to increased landfill disposal volumes and an overall increase in our average depletion and amortization rate.", + "The increase in expense was partially offset by favorable amortization adjustments recorded during 2016 of $6.5 million relative to asset retirement obligations, compared to favorable amortization adjustments of $0.7 million during 2015.", + "Amortization of Other Intangible Assets and Other Assets Expenses for amortization of other intangible assets and other assets were $71.0 million, $71.3 million and $71.9 million for the years ended December 31, 2017, 2016 and 2015, respectively, or 0.7% of revenue for 2017 and 0.8% for 2016 and 2015.", + "Our other intangible assets and other assets primarily relate to customer relationships, franchise agreements, other municipal agreements, and, to a lesser extent, non-compete agreements and trade names.", + "The changes in amortization expense are the result of assets acquired in the acquisitions of various waste businesses throughout the year, offset by certain intangible assets now being fully amortized.", + "Accretion Expense Accretion expense was $79.8 million, $79.1 million and $79.4 million, or 0.8% of revenue, for the years ended December 31, 2017 and 2016, and 0.9% of revenue for the year ended December 31, 2015.", + "Accretion expense has remained relatively unchanged as our asset retirement obligations remained relatively consistent period over period.", + "Selling, General and Administrative Expenses Selling, general and administrative expenses include salaries, health and welfare benefits, and incentive compensation for corporate and field general management, field support functions, sales force, accounting and finance, legal, management information systems, and clerical and administrative departments.", + "Other expenses include rent and office costs, fees for professional services provided by third parties, legal settlements, marketing, investor and community relations services, directors\u2019 and officers\u2019 insurance, general employee relocation, travel, entertainment and bank charges.", + "Restructuring charges are excluded from selling, general and administrative expenses and are discussed separately below.", + "The following table summarizes our selling, general and administrative expenses for the years ended December 31, 2017, 2016 and 2015 (in millions of dollars and as a percentage of revenue):", + "||2017|2016|2015|\n|Salaries|$706.3|7.0%|$646.3|6.9%|$636.6|7.0%|\n|Provision for doubtful accounts|30.6|0.3|20.4|0.2|22.7|0.2|\n|Other|320.5|3.2|303.1|3.2|323.8|3.6|\n|Total selling, general and administrative expenses|$1,057.4|10.5%|$969.8|10.3%|$983.1|10.8%|\n", + "These cost categories may change from time to time and may not be comparable to similarly titled categories used by other companies.", + "As such, you should take care when comparing our selling, general and administrative expenses by cost component to those of other companies.", + "Selling, General and Administrative Expenses \u2013 2017 compared to 2016 Salaries increased primarily due to higher incentive pay and wages and other payroll related items resulting from merit increases.", + "Other selling, general and administrative expenses increased primarily due a favorable legal settlement during 2016.", + "Additionally, we had an increase in acquisition-related transaction costs associated with our increased acquisition activity during the year." + ], + "question_id": "simplong-test-75", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of Interest, Operating leases, Purchase obligations and Investment commitments in 2018? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Long-term product offerings include alpha-seeking active and index strategies.", + "Our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile, and leverage fundamental research and 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.", + "Although many clients use both alpha-seeking 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, or may use a combination of index strategies to target active returns.", + "In addition, institutional non-ETF index assignments tend to be very large (multi-billion dollars) and typically reflect low fee rates.", + "Net flows in institutional index products generally have a small impact on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2017 equity AUM totaled $3.372 trillion, reflecting net inflows of $130.1 billion.", + "Net inflows included $174.4 billion into iShares ETFs, driven by net inflows into Core funds and broad developed and emerging market equities, partially offset by non-ETF index and active net outflows of $25.7 billion and $18.5 billion, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s equity AUM is tied to international markets, including emerging markets, which tend to have higher fee rates than U. S. equity strategies.", + "Accordingly, fluctuations in international equity markets, which may not consistently move in tandem with U. S. markets, have a greater impact on BlackRock\u2019s equity revenues and effective fee rate.", + "Fixed Income Fixed income AUM ended 2017 at $1.855 trillion, reflecting net inflows of $178.8 billion.", + "In 2017, active net inflows of $21.5 billion were diversified across fixed income offerings, and included strong inflows into municipal, unconstrained and total return bond funds.", + "iShares ETFs net inflows of $67.5 billion were led by flows into Core, corporate and treasury bond funds.", + "Non-ETF index net inflows of $89.8 billion were driven by demand for liability-driven investment solutions.", + "Multi-Asset BlackRock\u2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities, bonds, currencies 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 AUM for 2017 are presented below.", + "|(in millions)|December 31,2016|Net inflows (outflows)|Marketchange|FXimpact|December 31,2017|\n|Asset allocation and balanced|$176,675|$-2,502|$17,387|$4,985|$196,545|\n|Target date/risk|149,432|23,925|24,532|1,577|199,466|\n|Fiduciary|68,395|-1,047|7,522|8,819|83,689|\n|FutureAdvisor-1|505|-46|119|\u2014|578|\n|Total|$395,007|$20,330|$49,560|$15,381|$480,278|\n", + "(1) FutureAdvisor amounts do not include AUM held in iShares ETFs.", + "Multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $18.9 billion of net inflows coming from institutional clients.", + "Defined contribution plans of institutional clients remained a significant driver of flows, and contributed $20.8 billion to institutional multi-asset net inflows in 2017, primarily into target date and target risk product offerings.", + "Retail net inflows of $1.1 billion reflected demand for our Multi-Asset Income fund family, which raised $5.8 billion in 2017.", + "The Company\u2019s multi-asset strategies include the following: ?", + "Asset allocation and balanced products represented 41% of multi-asset AUM at year-end.", + "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 and Multi-Asset Income fund families. ?", + "Target date and target risk products grew 16% organically in 2017, with net inflows of $23.9 billion.", + "Institutional investors represented 93% of target date and target risk AUM, with defined contribution plans accounting for 87% of AUM.", + "Flows were driven by defined contribution investments in our LifePath offerings.", + "LifePath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor\u2019s expected retirement timing.", + "Underlying investments are primarily index products. ?", + "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 investment management.", + "These customized services require strong partnership with the clients\u2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives.", + "not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at December 31, 2017.", + "The 2017 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities.", + "At December 31, 2017, the Company had no amount outstanding under the 2017 credit facility Commercial Paper Program.", + "The Company can issue unsecured commercial paper notes (the \u201cCP Notes\u201d) on a private-placement basis up to a maximum aggregate amount outstanding at any time of $4.0 billion.", + "The commercial paper program is currently supported by the 2017 credit facility.", + "At December 31, 2017, BlackRock had no CP Notes outstanding Long-Term Borrowings The carrying value of long-term borrowings at December 31, 2017 included the following:", + "|(in millions)|Maturity Amount|Carrying Value|Maturity|\n|5.00% Notes|$1,000|$999|December 2019|\n|4.25% Notes|750|747|May 2021|\n|3.375% Notes|750|746|June 2022|\n|3.50% Notes|1,000|994|March 2024|\n|1.25% Notes-1|841|835|May 2025|\n|3.20% Notes|700|693|March 2027|\n|Total Long-term Borrowings|$5,041|$5,014||\n", + "(1) The carrying value of the 1.25% Notes estimated using foreign exchange rate as of December 31, 2017.", + "For more information on Company\u2019s borrowings, see Note 12, Borrowings, in the notes to the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Contractual Obligations, Commitments and Contingencies The following table sets forth contractual obligations, commitments and contingencies by year of payment at December 31, 2017:", + "|(in millions)|2018|2019|2020|2021|2022|Thereafter-1|Total|\n|Contractual obligations and commitments-1:||||||||\n|Long-term borrowings-2:||||||||\n|Principal|$\u2014|$1,000|$\u2014|$750|$750|$2,541|$5,041|\n|Interest|175|175|125|109|81|185|850|\n|Operating leases|141|132|126|118|109|1,580|2,206|\n|Purchase obligations|128|101|29|22|19|28|327|\n|Investment commitments|298|\u2014|\u2014|\u2014|\u2014|\u2014|298|\n|Total contractual obligations and commitments|742|1,408|280|999|959|4,334|8,722|\n|Contingent obligations:||||||||\n|Contingent payments related to business acquisitions-3|33|179|39|34|\u2014|\u2014|285|\n|Total contractual obligations, commitments andcontingent obligations-4|$775|$1,587|$319|$1,033|$959|$4,334|$9,007|\n", + "(1) Amounts do not include $350 million of cash payment consideration and contingent consideration related to the Company\u2019s agreement to acquire the asset management business of Citibanamex.", + "(2) The amount of principal and interest payments for the 2025 Notes (issued in Euros) represents the expected payment amounts using foreign exchange rates as of December 31, 2017.", + "(3) The amount of contingent payments reflected for any year represents the expected payments using foreign currency exchange rates as of December 31, 2017.", + "The fair value of the remaining aggregate contingent payments at December 31, 2017 totaled $236 million and is included in other liabilities on the consolidated statements of financial condition.", + "(4) At December 31, 2017, the Company had approximately $365 million of net unrecognized tax benefits.", + "Due to the uncertainty of timing and amounts that will ultimately be paid, this amount has been excluded from the table above.", + "Operating Leases.", + "The Company leases its primary office locations under agreements that expire on varying dates through 2043.", + "In connection with certain lease agreements, the Company is responsible for escalation payments.", + "The contractual obligations table above includes only guaranteed minimum lease payments for such leases and does not project potential escalation or other lease-related payments.", + "These leases are classified as operating leases and, as such, are not recorded as liabilities on the consolidated statements of financial condition.", + "In May 2017, the Company entered into an agreement with 50 HYMC Owner LLC, for the lease of approximately 847,000 square feet of office space located at 50 Hudson Yards, New York, New York.", + "The term of the lease is twenty years from the date that rental payments begin, expected to occur in", + "McKESSON CORPORATION FINANCIAL REVIEW (Continued) 46 In July 2008, the Board authorized the retirement of shares of the Company\u2019s common stock that may be repurchased from time-to-time pursuant to its stock repurchase program.", + "During the second quarter of 2009, all of the 4 million repurchased shares, which we purchased for $204 million, were formally retired by the Company.", + "The retired shares constitute authorized but unissued shares.", + "We elected to allocate any excess of share repurchase price over par value between additional paid-in capital and retained earnings.", + "As such, $165 million was recorded as a decrease to retained earnings.", + "The Company anticipates that it will continue to pay quarterly cash dividends in the future.", + "However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company\u2019s future earnings, financial condition, capital requirements and other factors.", + "Although we believe that our operating cash flow, financial assets, current access to capital and credit markets, including our existing credit and sales facilities, will give us the ability to meet our financing needs for the foreseeable future, there can be no assurance that continued or increased volatility and disruption in the global capital and credit markets will not impair our liquidity or increase our costs of borrowing.", + "Selected Measures of Liquidity and Capital Resources:" + ], + "question_id": "simplong-test-76", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Other operations and maintenance in 2018? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Rupture\" in Note H to the financial statements in Item 8) ($14 million), offset in part by surcharges for assessments and fees that are collected in revenues from customers ($4 million) and lower municipal infrastructure support costs ($2 million).", + "Depreciation and amortization increased $2 million in 2018 compared with 2017 due primarily to higher steam utility plant balances.", + "Taxes, other than income taxes increased $14 million in 2018 compared with 2017 due primarily to higher property taxes ($13 million) and state and local taxes ($2 million), offset in part by a sales and use tax refund ($1 million).", + "Taxes, Other Than Income Taxes At $2,156 million, taxes other than income taxes remain one of CECONY\u2019s largest operating expenses.", + "The principal components of, and variations in, taxes other than income taxes were:", + "||For the Years Ended December 31,||\n|(Millions of Dollars)|2018|2017|Variation|\n|Property taxes|$1,845|$1,692|$153|\n|State and local taxes related to revenue receipts|330|319|11|\n|Payroll taxes|69|67|2|\n|Other taxes|-88|-21|-67|\n|Total|$2,156(a)|$2,057(a)|$99|\n", + "(a) Including sales tax on customers\u2019 bills, total taxes other than income taxes in 2018 and 2017 were $2,628 and $2,495 million, respectively.", + "Other Income (Deductions) Other income (deductions) decreased $6 million in 2018 compared with 2017 due primarily to an increase in non- service costs related to pension and other postretirement benefits.", + "Net Interest Expense Net interest expense increased $66 million in 2018 compared with 2017 due primarily to higher debt balances in 2018.", + "Income Tax Expense Income taxes decreased $359 million in 2018 compared with 2017 due primarily to lower income before income tax expense ($56 million), a decrease in the corporate federal income tax rate due to the TCJA ($250 million), a decrease in tax benefits for plant-related flow items ($9 million) and an increase in the amortization of excess deferred federal income taxes due to the TCJA ($52 million), offset in part by non-deductible business expenses ($3 million) and a decrease in bad debt write-offs ($4 million).", + "CECONY deferred as a regulatory liability its estimated net benefits for the 2018 period under the TCJA.", + "See \u201cOther Regulatory Matters\u201d in Note B to the financial statements in Item 8.", + "O&R", + "||For the Year Ended December 31, 2018||For the Year Ended December 31, 2017|||\n|(Millions of Dollars)|Electric|Gas|2018 Total|Electric|Gas|2017 Total|2018-2017Variation|\n|Operating revenues|$642|$249|$891|$642|$232|$874|$17|\n|Purchased power|208|\u2014|208|191|\u2014|191|17|\n|Gas purchased for resale|\u2014|86|86|\u2014|73|73|13|\n|Other operations and maintenance|233|72|305|232|64|296|9|\n|Depreciation and amortization|56|21|77|51|20|71|6|\n|Taxes, other than income taxes|52|31|83|53|29|82|1|\n|Operating income|$93|$39|$132|$115|$46|$161|$-29|\n", + "fund\u2019s third-party administrator based upon the valuation of the underlying securities and instruments and primarily by applying a market or income valuation methodology as appropriate depending on the specific type of security or instrument held.", + "Funds-of-funds are valued based upon the net asset values of the underlying investments in hedge funds.", + "Private equity consists of interests in partnerships that invest in U. S. and non-U.", + "S. debt and equity securities.", + "Partnership interests are valued using the most recent general partner statement of fair value, updated for any subsequent partnership interest cash flows.", + "Real estate includes commercial properties, land and timberland, and generally includes, but is not limited to, retail, office, industrial, multifamily and hotel properties.", + "Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments which include inputs such as cost, discounted cash flows, independent appraisals and market based comparable data.", + "Risk Parity Funds are defined as engineered beta exposure to a wide range of asset classes and risk premia, including equity, interest rates, credit, and commodities.", + "Risk parity funds seek to provide high risk-adjusted returns while providing a high level of diversification relative to a traditional equity/fixed income portfolio.", + "These funds seek to achieve this objective with the use of modest leverage applied to lower-risk, more diverse asset classes.", + "Investments in Risk parity funds are valued using monthly reported net asset values.", + "Also included in these funds are related derivative instruments which are generally employed as asset class substitutes for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes.", + "Derivative instruments are generally valued by the investment managers or in certain instances by third-party pricing sources.", + "The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2015 were as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3)", + "|In millions|Otherfixedincome|Hedgefunds|Privateequity|Realestate|Risk parity funds|Total|\n|Beginning balance at December 31, 2014|$10|$867|$519|$1,101|$376|$2,873|\n|Actual return on plan assets:|||||||\n|Relating to assets still held at the reporting date|\u2014|27|27|41|-39|56|\n|Relating to assets sold during the period|\u2014|3|-9|27|-7|14|\n|Purchases, sales and settlements|\u2014|-3|-45|-75|10|-113|\n|Transfers in and/or out of Level 3|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Ending balance at December 31, 2015|$10|$894|$492|$1,094|$340|$2,830|\n", + "FUNDING AND CASH FLOWS The Company\u2019s funding policy for the Pension Plan is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors.", + "The Company continually reassesses the amount and timing of any discretionary contributions.", + "Contributions to the qualified plan totaling $750 million, $353 million and $31 million were made by the Company in 2015, 2014 and 2013, respectively.", + "Generally, International Paper\u2019s non-U.", + "S. pension plans are funded using the projected benefit as a target, except in certain countries where funding of benefit plans is not required.", + "At December 31, 2015, projected future pension benefit payments, excluding any termination benefits, were as follows:", + "|2016|$782|\n|2017|792|\n|2018|803|\n|2019|818|\n|2020|832|\n|2021 \u2013 2025|4,365|\n", + "OTHER U. S. PLANS International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of which are tax-qualified defined contribution 401(k) savings plans.", + "The following table presents information related to the major classes of assets and liabilities that were classified as held for sale in our consolidated balance sheet (in millions):", + "||December 31, 2017||\n|Cash, cash equivalents and short-term investments|$13||\n|Trade accounts receivable, less allowances|10||\n|Inventories|11||\n|Prepaid expenses and other assets|12||\n|Other assets|7||\n|Property, plant and equipment \u2014 net|85||\n|Bottlers' franchise rights with indefinite lives|5||\n|Goodwill|103||\n|Other intangible assets|1||\n|Allowance for reduction of assets held for sale|-28||\n|Assets held for sale|$219|1|\n|Accounts payable and accrued expenses|$22||\n|Other liabilities|12||\n|Deferred income taxes|3||\n|Liabilities held for sale|$37|2|\n", + "1 Consists of total assets relating to North America refranchising of $9 million and Latin America bottling operations of $210 million, which are included in the Bottling Investments operating segment.2 Consists of total liabilities relating to North America refranchising of $5 million and Latin America bottling operations of $32 million, which are included in the Bottling Investments operating segment.", + "We determined that the operations included in the table above did not meet the criteria to be classified as discontinued operations under the applicable guidance.", + "Discontinued Operations In October 2017, the Company and ABI completed the transition of ABI\u2019s controlling interest in CCBA to the Company for $3,150 million.", + "We plan to hold a controlling interest in CCBA temporarily.", + "We anticipate that we will divest a portion of our ownership interest in 2019, which will result in the Company no longer having a controlling interest in CCBA.", + "Accordingly, we have presented the financial position and results of operations of CCBA as discontinued operations in the accompanying consolidated financial statements.", + "As CCBA met the criteria to be classified as held for sale, we were required to record their assets and liabilities at the lower of carrying value or fair value less any costs to sell and present the related assets and liabilities as separate line items in our consolidated balance sheet.", + "During the year ended December 31, 2018, we recorded an impairment charge of $554 million, reflecting management\u2019s view of the proceeds that are expected to be received based on revised projections of future operating results and foreign currency exchange rate fluctuations.", + "Refer to Note 17.", + "Upon consolidation of CCBA, we remeasured our previously held equity interests in CCBA and its South African subsidiary to fair value and recorded a gain on the remeasurement of $150 million.", + "The fair values in our previously held equity investments in CCBA and its South African subsidiary were determined using income approaches, including discounted cash flow models (a Level 3 measurement), and the Company believes the inputs and assumptions used are consistent with those hypothetical marketplace participants would use.", + "We recorded $1,805 million for the noncontrolling interests of CCBA.", + "The fair value of the noncontrolling interests was determined in a manner similar to our previously held equity investments.", + "The preliminary goodwill recorded at the time of the transaction was $4,262 million, none of which is tax deductible.", + "This goodwill is in part due to the significant synergies that are expected from the consolidation of the bottling system in Southern and East Africa, especially within the country of South Africa.", + "As a result, upon finalization of purchase accounting $411 million of the final goodwill balance of $4,186 million was allocated to other reporting units expected to benefit from this transaction.", + "During 2018, the Company acquired additional bottling operations in Zambia and Botswana, which have also been included in assets held for sale \u2014 discontinued operations and liabilities held for sale \u2014 discontinued operations.", + "Notes to Consolidated Financial Statements Note 1.", + "Summary of Significant Accounting Policies \u2013 (Continued) accounted for under the previous accounting guidance, FTB No.85-4, where the carrying value of life settlement contracts was the cash surrender value, and revenue was recognized and included in Other revenues on the Consolidated Statements of Income when the life insurance policy underlying the life settlement contract matured.", + "Under the previous accounting guidance, maintenance expenses were expensed as incurred and included in Other operating expenses on the Consolidated Statements of Income.", + "CNA\u2019s investments in life settlement contracts were $129 million and $115 million at December 31, 2008 and 2007 and are included in Other assets on the Consolidated Balance Sheets.", + "The cash receipts and payments related to life settlement contracts are included in Cash flows from operating activities on the Consolidated Statements of Cash Flows for all periods presented.", + "The fair value of each life insurance policy is determined as the present value of the anticipated death benefits less anticipated premium payments for that policy.", + "These anticipated values are determined using mortality rates and policy terms that are distinct for each insured.", + "The discount rate used reflects current risk-free rates at applicable durations and the risks associated with assessing the current medical condition of the insured, the potential volatility of mortality experience for the portfolio and longevity risk.", + "CNA used its own experience to determine the fair value of its portfolio of life settlement contracts.", + "The mortality experience of this portfolio of life insurance policies may vary by quarter due to its relatively small size.", + "The following table details the values for life settlement contracts as of December 31, 2008." + ], + "question_id": "simplong-test-77", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Short-term debt, Long-term debt and Collateral financing arrangements in 2006? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Mississippi, Inc. Management's Financial Discussion and Analysis 321 The net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the Municipal Energy Agency of Mississippi.", + "Gross operating revenues, fuel and purchased power expenses, and other regulatory charges Gross operating revenues increased primarily due to an increase of $152.5 million in fuel cost recovery revenues due to higher fuel rates, partially offset by a decrease of $43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts.", + "Fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power, partially offset by decreased demand and decreased recovery from customers of deferred fuel costs.", + "Other regulatory charges increased primarily due to increased recovery through the Grand Gulf rider of Grand Gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider.", + "There is no material effect on net income due to quarterly adjustments to the power management recovery rider.2007 Compared to 2006 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits).", + "Following is an analysis of the change in net revenue comparing 2007 to 2006.", + "||Amount (In Millions)|\n|2006 net revenue|$466.1|\n|Base revenue|7.9|\n|Volume/weather|4.5|\n|Transmission revenue|4.1|\n|Transmission equalization|4.0|\n|Reserve equalization|3.8|\n|Attala costs|-10.2|\n|Other|6.7|\n|2007 net revenue|$486.9|\n", + "The base revenue variance is primarily due to a formula rate plan increase effective July 2007.", + "The formula rate plan filing is discussed further in \"State and Local Rate Regulation\" below.", + "The volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors, including the effect of more favorable weather on billed electric sales in 2007 compared to 2006.", + "Billed electricity usage increased 214 GWh.", + "The increase in usage was partially offset by decreased usage in the industrial sector.", + "The transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006.", + "The transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among Entergy companies.", + "The reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among Entergy companies due to a FERC ruling regarding the inclusion of interruptible loads in reserve", + "Revenues and Expenses Premiums, Fees and Other Revenues Premiums, fees and other revenues increased by $2,185 million, or 7%, to $34,739 million for the year ended December 31, 2007 from $32,554 million for the comparable 2006 period.", + "The following table provides the change from the prior year in premiums, fees and other revenues by segment:", + "||| % of Total |\n|| $ Change (In millions)| $ Change|\n|Institutional|$594|27%|\n|Reinsurance|573|26|\n|International|560|26|\n|Individual|364|17|\n|Auto & Home|65|3|\n|Corporate & Other|29|1|\n|Total change|$2,185|100%|\n", + "The growth in the Institutional segment was primarily due to increases in the non-medical health & other and group life businesses.", + "The non-medical health & other business increased primarily due to growth in the dental, disability, accidental death & dismemberment (\u201cAD&D\u201d) and individual disability insurance (\u201cIDI\u201d) businesses.", + "Partially offsetting these increases is a decrease in the long-term care (\u201cLTC\u201d) business, net of a decrease resulting from a shift to deposit liability-type contracts in the current year, partially offset by growth in the business.", + "The group life business increased primarily due to business growth in term life and increases in corporate-owned life insurance and life insurance sold to postretirement benefit plans.", + "These increases in the non-medical health & other and group life businesses were partially offset by a decrease in the retirement & savings business.", + "The decrease in retirement & savings was primarily due to a decrease in structured settlement and pension closeout premiums, partially offset by an increase in other products.", + "The growth in the Reinsurance segment was primarily attributable to premiums from new facultative and automatic treaties and renewal premiums on existing blocks of business in all RGA\u2019s operating segments.", + "In addition, other revenues increased due to an increase in surrender charges on asset-intensive business reinsured and an increase in fees associated with financial reinsurance.", + "The growth in the International segment was primarily due to the following factors: ?", + "An increase in Mexico\u2019s premiums, fees and other revenues due to higher fees and growth in its institutional and universal life businesses, a decrease in experience refunds during the first quarter of 2007 on Mexico\u2019s institutional business, as well as the adverse impact in the prior year of an adjustment for experience refunds on Mexico\u2019s institutional business, offset by lower fees resulting from management\u2019s update of assumptions used to determine estimated gross profits and various one-time revenue items which benefited both the current and prior years. ?", + "Premiums, fees and other revenues increased in Hong Kong primarily due to the acquisition of the remaining 50% interest in MetLife Fubon and the resulting consolidation of the operation as well as business growth. ?", + "Chile\u2019s premiums, fees and other revenues increased primarily due to higher annuity sales, higher institutional premiums from its traditional and bank distribution channels, and the decrease in the prior year resulting from management\u2019s decision not to match aggressive pricing in the marketplace. ?", + "South Korea\u2019s premiums, fees and other revenues increased primarily due to higher fees from growth in its guaranteed annuity and variable universal life businesses. ?", + "Brazil\u2019s premiums, fees and other revenues increased due to changes in foreign currency exchange rates and business growth. ?", + "Premiums, fees and other revenues increased in Japan due to an increase in reinsurance assumed. ?", + "Australia\u2019s premiums, fees and other revenues increased primarily due to growth in the institutional and reinsurance business in\u0002force, an increase in retention levels and changes in foreign currency exchange rates. ?", + "Argentina\u2019s premiums, fees and other revenues increased due to higher pension contributions resulting from higher participant salaries and a higher salary threshold subject to fees and growth in bancassurance, offset by the reduction of cost of insurance fees as a result of the new pension system reform regulation. ?", + "Taiwan\u2019s and India\u2019s premiums, fees and other revenues increased primarily due to business growth.", + "These increases in premiums, fees and other revenues were partially offset by a decrease in the United Kingdom due to an unearned premium calculation refinement, partially offset by changes in foreign currency exchange rates.", + "The growth in the Individual segment was primarily due to higher fee income from variable life and annuity and investment-type products and growth in premiums from other life products, partially offset by a decrease in immediate annuity premiums and a decline in premiums associated with the Company\u2019s closed block business, in line with expectations.", + "The growth in the Auto & Home segment was primarily due to an increase in premiums related to increased exposures, an increase in various voluntary and involuntary programs, and a change in estimate on auto rate refunds due to a regulatory examination, as well as an increase in other revenues primarily due to slower than anticipated claim payments in 2006.", + "These increases were partially offset by a reduction in average earned premium per policy, and an increase in catastrophe reinsurance costs.", + "The increase in Corporate & Other was primarily related to the resolution of an indemnification claim associated with the 2000 acquisition of General American Life Insurance Company (\u201cGALIC\u201d), partially offset by an adjustment of surrender values on corporate\u0002owned life insurance policies.", + "Net Investment Income Net investment income increased by $1,924 million, or 11%, to $19,006 million for the year ended December 31, 2007 from $17,082 million for the comparable 2006 period.", + "Management attributes $1,336 million of this increase to growth in the average asset base and $588 million to an increase in yields.", + "The increase in net investment income from growth in the average asset base was primarily within fixed maturity securities, mortgage loans, real estate joint ventures and other limited partnership interests.", + "The increase in net", + "||December 31,|\n||2007|2006|2005|2004|2003|\n||(In millions)|\n| Balance Sheet Data -1||||||\n|Assets:||||||\n|General account assets|$398,403|$383,350|$353,776|$270,039|$251,085|\n|Separate account assets|160,159|144,365|127,869|86,769|75,756|\n|Total assets -2|$558,562|$527,715|$481,645|$356,808|$326,841|\n|Liabilities:||||||\n|Life and health policyholder liabilities -4|$278,246|$267,146|$257,258|$193,612|$177,947|\n|Property and casualty policyholder liabilities -4|3,324|3,453|3,490|3,180|2,943|\n|Short-term debt|667|1,449|1,414|1,445|3,642|\n|Long-term debt|9,628|9,129|9,489|7,412|5,703|\n|Collateral financing arrangements|5,732|850|\u2014|\u2014|\u2014|\n|Junior subordinated debt securities|4,474|3,780|2,533|\u2014|\u2014|\n|Payables for collateral under securities loaned and other transactions|44,136|45,846|34,515|28,678|27,083|\n|Other|17,017|17,899|15,976|12,888|12,618|\n|Separate account liabilities|160,159|144,365|127,869|86,769|75,756|\n|Total liabilities -2|523,383|493,917|452,544|333,984|305,692|\n|Stockholders\u2019 Equity||||||\n|Preferred stock, at par value|1|1|1|\u2014|\u2014|\n|Common stock, at par value|8|8|8|8|8|\n|Additional paid-in capital|17,098|17,454|17,274|15,037|14,991|\n|Retained earnings -5|19,884|16,574|10,865|6,608|4,193|\n|Treasury stock, at cost|-2,890|-1,357|-959|-1,785|-835|\n|Accumulated other comprehensive income -6|1,078|1,118|1,912|2,956|2,792|\n|Total stockholders\u2019 equity|35,179|33,798|29,101|22,824|21,149|\n|Total liabilities and stockholders\u2019 equity|$558,562|$527,715|$481,645|$356,808|$326,841|\n", + "|| Years Ended December 31,|\n|| 2007| 2006| 2005| 2004| 2003|\n| Other Data -1||||||\n|Net income available to common shareholders|$4,180|$6,159|$4,651|$2,758|$2,196|\n|Return on common equity -7|13.0%|21.9%|18.5%|12.5%|11.4%|\n|Return on common equity, excluding accumulated other comprehensive income|13.2%|22.6%|20.4%|14.4%|13.0%|\n| EPS Data -1||||||\n| Income from Continuing Operations Available to Common Shareholders Per Common Share||||||\n|Basic|$5.57|$3.85|$4.02|$3.43|$2.36|\n|Diluted|$5.44|$3.81|$3.98|$3.41|$2.34|\n| Income (loss) from Discontinued Operations Per Common Share||||||\n|Basic|$0.05|$4.24|$2.19|$0.35|$0.65|\n|Diluted|$0.04|$4.18|$2.18|$0.35|$0.64|\n| Cumulative Effect of a Change in Accounting Per Common Share -3||||||\n|Basic|$\u2014|$\u2014|$\u2014|$-0.11|$-0.04|\n|Diluted|$\u2014|$\u2014|$\u2014|$-0.11|$-0.04|\n| Net Income Available to Common Shareholders Per Common Share||||||\n|Basic|$5.62|$8.09|$6.21|$3.67|$2.97|\n|Diluted|$5.48|$7.99|$6.16|$3.65|$2.94|\n| Dividends Declared Per Common Share|$0.74|$0.59|$0.52|$0.46|$0.23|\n", + "Years Ended December 31, @t@ (1) On July 1, 2005, the Company acquired Travelers.", + "The 2005 selected financial data includes total revenues and total expenses of $966 million and $577 million, respectively, from the date of the acquisition.", + "See \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Acquisitions and Dispositions.", + "\u201d (2) Discontinued Operations:" + ], + "question_id": "simplong-test-78", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Goodwill reach in 2019 if it continues to grow at its current rate? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "that these costs would be recovered from customers with no material adverse effect on its results of operations, financial position, or liquidity.", + "Ameren\u2019s and Ameren Missouri\u2019s earnings could benefit from increased investment to comply with environmental regulations if those investments are reflected and recovered on a timely basis in customer rates.", + "\u2030 The Ameren Companies have multiyear credit agreements that cumulatively provide $2.1 billion of credit through December 2022, subject to a 364-day repayment term for Ameren Missouri and Ameren Illinois, with the option to seek incremental commitments to increase the cumulative credit provided to $2.5 billion.", + "See Note 4 \u2013 Short-term Debt and Liquidity under Part II, Item 8, of this report for additional information regarding the Credit Agreements.", + "Ameren, Ameren Missouri, and Ameren Illinois believe that their liquidity is adequate given their expected operating cash flows, capital expenditures, and related financing plans.", + "However, there can be no assurance that significant changes in economic conditions, disruptions in the capital and credit markets, or other unforeseen events will not materially affect their ability to execute their expected operating, capital, or financing plans.", + "\u2030 Federal income tax legislation enacted under the TCJA will continue to have significant impacts on our results of operations, financial position, liquidity, and financial metrics.", + "The TCJA, among other things, reduced the federal statutory corporate income tax rate from 35% to 21%, effective January 1, 2018.", + "Customer rates were reduced to reflect the lower income tax rate, without a corresponding reduction in income tax payments because of our use of net operating losses and tax credit carryforwards until about 2020.", + "Customer rates were also reduced to reflect the return of excess deferred taxes.", + "The result of these customer rate reductions is a decrease in operating cash flows in the near term.", + "Over time, the decrease in operating cash flows will be offset as temporary differences between book and taxable income reverse, and by increased customer rates due to higher rate base amounts resulting from lower accumulated deferred income tax liabilities.", + "\u2030 Ameren Missouri expects a decrease in operating cash flows of approximately $100 million in 2019 compared with 2018, as a result of the TCJA.", + "Over time, the decrease in operating cash flows will be offset as temporary differences between book and taxable income reverse, and by increased customer rates due to higher rate base amounts, once approved by the MoPSC, resulting from lower accumulated deferred income tax liabilities.", + "\u2030 The following table presents the net regulatory liabilities associated with excess deferred taxes as of December 31, 2018, and the related amortization periods:", + "|Amortization Period|Ameren Missouri|Ameren Illinois|ATXI|Total|\n|30\u201360 years|$947|$796|$84|$1,827|\n|7\u201310 years|524|-4|2|522|\n|Total|$1,471|$792|$86|$2,349|\n", + "\u2030 In 2018, our rate-regulated businesses began to amortize excess deferred taxes.", + "Ameren Illinois and ATXI\u2019s 2018 income tax expense reflect a full year of amortization, while Ameren Missouri\u2019s 2018 income tax expense reflects five months of amortization related to its electric business, in accordance with a MoPSC order received in July 2018.", + "The amortization of such balances related to Ameren Missouri\u2019s gas business started in January 2019, in accordance with a MoPSC order received in December 2018.", + "These amortizations reduce our income tax expense and effective tax rates.", + "Due to formula ratemaking, Ameren Illinois Electric Distribution and Ameren Transmission have an offsetting reduction in revenue from customers, with no overall impact on earnings.", + "Ameren Missouri and Ameren Illinois Natural Gas 2019 interim period earnings may be affected by timing differences between income tax expense and revenue reductions based on their revenue patterns; however, no material impact to year-over-year earnings is expected.", + "\u2030 As of December 31, 2018, Ameren had $91 million in tax benefits from federal and state net operating loss carryforwards and $127 million in federal and state income tax credit carryforwards.", + "These carryforwards are expected to largely offset income tax obligations in 2019.", + "Ameren does not expect to make material federal or state income tax payments over the next five years based on planned capital expenditures and related income tax credits.", + "Consistent with the tax allocation agreement between Ameren (parent) and its subsidiaries, Ameren Missouri expects to make material income tax payments to Ameren (parent) in 2019 and 2020 and immaterial payments in 2021 through 2023 based on planned capital expenditures and related income tax credits, while Ameren Illinois expects to make material income tax payments to Ameren (parent) in 2020 through 2023.", + "\u2030 Ameren expects its cash used for currently planned capital expenditures and dividends to exceed cash provided by operating activities over the next several years.", + "To fund a portion of these cash requirements, beginning in the first quarter of 2018, Ameren began using newly issued shares, rather than market-purchased shares, to satisfy requirements under its DRPlus and employee benefit plans and expects to continue to do so over the next five years.", + "Ameren also plans to issue incremental common equity to fund a portion of Ameren Missouri\u2019s wind generation investments.", + "Ameren, Ameren Missouri, and Ameren Illinois expect their respective equity to total capitalization levels over the period ending December 2023 to remain in-line with their respective equity to total capitalization levels as of December 31, 2018.", + "Ameren Missouri", + "Table 44: Allowance for Loan and Lease Losses", + "|Dollars in millions|2012|2011|\n|January 1|$4,347|$4,887|\n|Total net charge-offs|-1,289|-1,639|\n|Provision for credit losses|987|1,152|\n|Net change in allowance for unfunded loan commitments and letters of credit|-10|-52|\n|Other|1|-1|\n|December 31|$4,036|$4,347|\n|Net charge-offs to average loans (for the year ended)|.73%|1.08%|\n|Allowance for loan and lease losses to total loans|2.17|2.73|\n|Commercial lending net charge-offs|$-359|$-712|\n|Consumer lending net charge-offs|-930|-927|\n|Total net charge-offs|$-1,289|$-1,639|\n|Net charge-offs to average loans (for the year ended)|||\n|Commercial lending|.35%|.86%|\n|Consumer lending|1.24|1.33|\n", + "As further described in the Consolidated Income Statement Review section of this Item 7, the provision for credit losses totaled $1.0 billion for 2012 compared to $1.2 billion for 2011.", + "For 2012, the provision for commercial lending credit losses declined by $39 million or 22% from 2011.", + "Similarly, the provision for consumer lending credit losses decreased $126 million or 13% from 2011.", + "At December 31, 2012, total ALLL to total nonperforming loans was 124%.", + "The comparable amount for December 31, 2011 was 122%.", + "These ratios are 79% and 84%, respectively, when excluding the $1.5 billion and $1.4 billion, respectively, of allowance at December 31, 2012 and December 31, 2011 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans.", + "We have excluded consumer loans and lines of credit not secured by real estate as they are charged off after 120 to 180 days past due and not placed on nonperforming status.", + "Additionally, we have excluded purchased impaired loans as they are considered performing regardless of their delinquency status as interest is accreted based on our estimate of expected cash flows and additional allowance is recorded when these cash flows are below recorded investment.", + "See Table 33: Nonperforming Assets By Type within this Credit Risk Management section for additional information.", + "The ALLL balance increases or decreases across periods in relation to fluctuating risk factors, including asset quality trends, charge-offs and changes in aggregate portfolio balances.", + "During 2012, improving asset quality trends, including, but not limited to, delinquency status, improving economic conditions, realization of previously estimated losses through charge-offs and overall portfolio growth, combined to result in reducing the estimated credit losses within the portfolio.", + "As a result, the ALLL balance declined $311 million, or 7%, to $4.0 billion during the year ended December 31, 2012.", + "See Note 7 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit and Note 6 Purchased Loans in the Notes To Consolidated Financial Statements in Item 8 of this Report regarding changes in the ALLL and in the allowance for unfunded loan commitments and letters of credit.", + "CREDIT DEFAULT SWAPS From a credit risk management perspective, we use credit default swaps (CDS) as a tool to manage risk concentrations in the credit portfolio.", + "That risk management could come from protection purchased or sold in the form of single name or index products.", + "When we buy loss protection by purchasing a CDS, we pay a fee to the seller, or CDS counterparty, in return for the right to receive a payment if a specified credit event occurs for a particular obligor or reference entity.", + "When we sell protection, we receive a CDS premium from the buyer in return for PNC\u2019s obligation to pay the buyer if a specified credit event occurs for a particular obligor or reference entity.", + "We evaluate the counterparty credit worthiness for all our CDS activities.", + "Counterparty creditworthiness is approved based on a review of credit quality in accordance with our traditional credit quality standards and credit policies.", + "The credit risk of our counterparties is monitored in the normal course of business.", + "In addition, all counterparty credit lines are subject to collateral thresholds and exposures above these thresholds are secured.", + "CDSs are included in the \u201cDerivatives not designated as hedging instruments under GAAP\u201d section of Table 54: Financial Derivatives Summary in the Financial Derivatives section of this Risk Management discussion.", + "||At or for the year ended December 31|\n|Dollars in millions, except as noted|2018|2017|2016|2015|2014|\n|Balance Sheet Highlights||||||\n|Assets|$382,315|$380,768|$366,380|$358,493|$345,072|\n|Loans|$226,245|$220,458|$210,833|$206,696|$204,817|\n|Allowance for loan and lease losses|$2,629|$2,611|$2,589|$2,727|$3,331|\n|Interest-earning deposits with banks (a)|$10,893|$28,595|$25,711|$30,546|$31,779|\n|Investment securities|$82,701|$76,131|$75,947|$70,528|$55,823|\n|Loans held for sale|$994|$2,655|$2,504|$1,540|$2,262|\n|Equity investments (b)|$12,894|$11,392|$10,728|$10,587|$10,728|\n|Mortgage servicing rights|$1,983|$1,832|$1,758|$1,589|$1,351|\n|Goodwill|$9,218|$9,173|$9,103|$9,103|$9,103|\n|Other assets|$34,408|$27,894|$27,506|$26,566|$28,180|\n|Noninterest-bearing deposits|$73,960|$79,864|$80,230|$79,435|$73,479|\n|Interest-bearing deposits|$193,879|$185,189|$176,934|$169,567|$158,755|\n|Total deposits|$267,839|$265,053|$257,164|$249,002|$232,234|\n|Borrowed funds (c)|$57,419|$59,088|$52,706|$54,532|$56,768|\n|Total shareholders\u2019 equity|$47,728|$47,513|$45,699|$44,710|$44,551|\n|Common shareholders\u2019 equity|$43,742|$43,530|$41,723|$41,258|$40,605|\n|Accumulated other comprehensive income (loss)|$-725|$-148|$-265|$130|$503|\n|Period-end common shares outstanding (millions)|457|473|485|504|523|\n|Loans to deposits|84%|83%|82%|83%|88%|\n|Client Assets(billions)||||||\n|Discretionary client assets under management|$148|$151|$137|$134|$135|\n|Nondiscretionary client assets under administration|124|131|120|119|123|\n|Total client assets under administration|272|282|257|253|258|\n|Brokerage account client assets|47|49|44|43|43|\n|Total|$319|$331|$301|$296|$301|\n|Capital Ratios (d) (e)||||||\n|Basel III (f)||||||\n|Common equity Tier 1|9.6%|9.8%|10.0%|10.0%|10.0%|\n|Tier 1 risk-based|10.8%|N/A|N/A|N/A|N/A|\n|Total capital risk-based|13.0%|N/A|N/A|N/A|N/A|\n|Transitional Basel III||||||\n|Common equity Tier I|N/A|10.4%|10.6%|10.6%|10.9%|\n|Tier 1 risk-based capital|N/A|11.6%|12.0%|12.0%|12.6%|\n|Other Selected Ratios||||||\n|Dividend payout|31.5%|24.7%|29.0%|27.0%|25.3%|\n|Common shareholders\u2019 equity to total assets|11.4%|11.4%|11.4%|11.5%|11.8%|\n|Average common shareholders\u2019 equity to average assets|11.3%|11.3%|11.5%|11.5%|12.1%|\n|Selected Statistics||||||\n|Employees|53,063|52,906|52,006|52,513|53,587|\n|Retail Banking branches|2,372|2,459|2,520|2,616|2,697|\n|ATMs|9,162|9,051|9,024|8,956|8,605|\n", + "(a) Includes balances held with the Federal Reserve Bank of Cleveland of $10.5 billion, $28.3 billion, $25.1 billion, $30.0 billion and $31.4 billion as of December 31, 2018, 2017, 2016, 2015 and 2014, respectively.", + "(b) Includes our equity interest in BlackRock.", + "On January 1, 2018, $.6 billion of trading and available for sale securities, primarily money market funds, were reclassified to Equity investments in accordance with the adoption of Accounting Standards Update (ASU) 2016-01.", + "See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies in Item 8 of this Report for additional detail on this adoption.", + "(c) Includes long-term borrowings of $37.4 billion, $43.1 billion, $38.3 billion, $43.6 billion and $41.5 billion for 2018, 2017, 2016, 2015 and 2014, respectively.", + "Borrowings which mature more than one year after December 31, 2018 are considered to be long-term.", + "(d) See capital ratios discussion in the Supervision and Regulation section of Item 1 and in the Liquidity and Capital Management portion of the Risk Management section in Item 7 of this Report for additional discussion on these capital ratios.", + "Additional information on the 2014-2016 fully phased-in ratios and Transitional Basel III ratios is included in the Statistical Information (Unaudited) section in Item 8 of this Report.", + "(e) All ratios are calculated using the regulatory capital methodology applicable to PNC during each period presented, except for the prior period Basel III Common equity Tier 1 ratios, which are fully phased-in Basel III ratios and are presented as pro forma estimates.", + "Ratios for all periods were calculated based on the standardized approach.", + "(f) The 2018 Basel III ratios for Common equity Tier 1 capital and Tier 1 risk-based capital reflect the full phase-in of all Basel III adjustments to these metrics applicable to PNC.", + "The 2018 Basel III Total risk-based capital ratio includes $80 million of nonqualifying trust preferred capital securities that are subject to a phase-out period that runs through 2021." + ], + "question_id": "simplong-test-79", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "by how much did the fair value of stock-based performance units outstanding decrease from 2016 to 2018?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||2009|2008|\n| E&P Operating Statistics|||\n|Average Realizations(d)|||\n|Liquid Hydrocarbons (per bbl)|||\n|United States|$54.67|$86.68|\n|Europe|64.46|90.60|\n|Africa|53.91|89.85|\n|Total International|59.31|90.14|\n|Worldwide Continuing Operations|58.09|89.07|\n|Discontinued Operations(b)|56.47|96.41|\n|Worldwide|$58.06|$89.29|\n|Natural Gas (per mcf)|||\n|United States|$4.14|$7.01|\n|Europe|4.90|7.67|\n|Africa|0.25|0.25|\n|Total International|1.38|2.50|\n|Worldwide Continuing Operations|2.47|4.56|\n|Discontinued Operations(b)|8.54|9.62|\n|Worldwide|$2.58|$4.75|\n", + "(a) Includes crude oil, condensate and natural gas liquids.", + "The amounts correspond with the basis for fiscal settlements with governments, representing equity tanker liftings and direct deliveries of liquid hydrocarbons.", + "(b) Our businesses in Ireland and Gabon were sold in 2009.", + "All periods have been recast to reflect these businesses as discontinued operations.", + "(c) Includes natural gas acquired for injection and subsequent resale of 22 mmcfd and 32 mmcfd in 2009 and 2008.", + "(d) Excludes gains and losses on derivative instruments and the unrealized effects of U. K. natural gas contracts that are accounted for as derivatives.", + "E&P segment revenues included derivative losses of $13 million in 2009 and gains of $22 million in 2008.", + "Excluded from E&P segment revenues were gains of $72 million in 2009 and $218 million in 2008 related to natural gas sales contracts in the U. K. that were accounted for as derivative instruments.", + "These U. K contracts expired in September 2009.", + "OSM segment revenues decreased $455 million from 2008 to 2009.", + "Revenues were impacted by net gains of $12 million in 2009 and $48 million in 2008 on derivative instruments, which expired December 2009.", + "Excluding the derivatives, the decrease in revenue reflects the almost 40 percent decline in synthetic crude oil realizations.", + "Synthetic crude oil sales volumes were consistent between the years.", + "RM&T segment revenues decreased $18,951 million from 2008 to 2009 matching relative price level changes.", + "While our overall refined product sales volumes in 2009 were relatively unchanged compared to 2008, the level of average petroleum prices declined significantly as shown in Item 1.", + "Business\u2014Refining, Marketing and Transportation.", + "The level of crude oil prices has a direct influence on our refined product prices.", + "The table below shows the average annual refined product benchmark prices for our marketing area.", + "|(Dollars per gallon)|2009|2008|\n|Chicago Spot Unleaded regular gasoline|$1.68|$2.50|\n|Chicago Spot Ultra-low sulfur diesel|$1.66|$2.95|\n|U.S. Gulf Coast Spot Unleaded regular gasoline|$1.64|$2.48|\n|U.S. Gulf Coast Spot Ultra-low sulfur diesel|$1.66|$2.93|\n", + "Sales to related parties decreased in 2009 as a result of the sale of our interest in Pilot Travel Centers LLC (\u201cPTC\u201d) during the fourth quarter of 2008.", + "Income from equity method investments decreased $467 million in 2009 from 2008 primarily as the result of lower commodity prices on the earnings of many of our equity investees in 2009 and the sale of our equity method investment in PTC during the fourth quarter of 2008.", + "Net gain on disposal of assets in 2009 includes our gain on the sale of our operated and a portion of our outside-operated Permian Basin producing assets in New Mexico and west Texas, plus sales of other oil and gas properties and retail stores.", + "In 2008, we sold our outside-operated interests (24 percent of Heimdal field, 47 percent", + "MARATHON OIL CORPORATIONNotes to Consolidated Financial Statements90Stock-based performance unit awards \u2013 During 2018, 2017 and 2016 we granted 754,140, 563,631 and 1,205,517 stock\u0002based performance unit awards to officers.", + "At December 31, 2018, there were 1,196,176 units outstanding.", + "Total stock-based performance unit awards expense was $13 million in 2018, $8 million in 2017 and $6 million in 2016.", + "The key assumptions used in the Monte Carlo simulation to determine the fair value of stock-based performance units granted in 2018, 2017 and 2016 were:", + "||2018|2017|2016|\n|Valuation date stock price|$14.17|$14.17|$14.17|\n|Expected annual dividend yield|1.4%|1.4%|1.4%|\n|Expected volatility|39%|43%|52%|\n|Risk-free interest rate|2.5%|2.6%|2.4%|\n|Fair value of stock-based performance units outstanding|$19.60|$19.45|$21.51|\n", + "18.", + "Defined Benefit Postretirement Plans and Defined Contribution PlanWe have noncontributory defined benefit pension plans covering substantially all domestic employees, as well as U. K. employees who were hired before April 2010.", + "Certain employees located in E. G. , who are U. S. or U. K. based, also participate in these plans.", + "Benefits under these plans are based on plan provisions specific to each plan.", + "For the U. K. pension plan, the principal employer and plan trustees reached a decision to close the plan to future benefit accruals effective December 31, 2015.", + "We also have defined benefit plans for other postretirement benefits covering our U. S. employees.", + "Health care benefits are provided up to age 65 through comprehensive hospital, surgical and major medical benefit provisions subject to various cost\u0002sharing features.", + "Post-age 65 health care benefits are provided to certain U. S. employees on a defined contribution basis.", + "Life insurance benefits are provided to certain retiree beneficiaries.", + "These other postretirement benefits are not funded in advance.", + "Employees hired after 2016 are not eligible for any postretirement health care or life insurance benefits.", + "MARATHON OIL CORPORATION Notes to Consolidated Financial Statements 92 Components of net periodic benefit cost from continuing operations and other comprehensive (income) loss \u2013 The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive (income) loss for our defined benefit pension and other postretirement plans", + "||Pension Benefits Year Ended December 31,|Other Benefits Year Ended December 31,|\n||2018|2017|2016|2018|2017|2016|\n|(In millions)|U.S.|Int\u2019l|U.S.|Int\u2019l|U.S.|Int\u2019l|U.S.|U.S.|U.S.|\n|Components of net periodic benefit cost:||||||||||\n|Service cost|$18|$\u2014|$22|$\u2014|$25|$\u2014|$2|$2|$2|\n|Interest cost|12|14|13|17|16|23|7|8|11|\n|Expected return on plan assets|-11|-24|-13|-30|-18|-35|\u2014|\u2014|\u2014|\n|Amortization:||||||||||\n|- prior service cost (credit)|-10|\u2014|-10|\u2014|-10|1|-8|-7|-3|\n|- actuarial loss|11|\u2014|8|1|14|\u2014|1|\u2014|\u2014|\n|Net settlement loss(a)|18|3|28|4|97|6|\u2014|\u2014|\u2014|\n|Net periodic benefit cost(b)|$38|$-7|$48|$-8|$124|$-5|$2|$3|$10|\n|Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss (pretax):||||||||||\n|Actuarial loss (gain)|$-4|$8|$28|$-26|$70|$41|$-15|$5|$11|\n|Amortization of actuarial gain (loss)|-29|-3|-36|-4|-111|-6|-1|\u2014|\u2014|\n|Prior service cost (credit)|\u2014|3|\u2014|\u2014|\u2014|1|-99|\u2014|-38|\n|Amortization of prior service credit (cost)|10|\u2014|10|\u2014|10|-1|8|7|3|\n|Total recognized in other comprehensive (income) loss|$-23|$8|$2|$-30|$-31|$35|$-107|$12|$-24|\n|Total recognized in net periodic benefit cost and other comprehensive (income) loss|$15|$1|$50|$-38|$93|$30|$-105|$15|$-14|\n", + "(a) Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan\u2019s total service and interest costs for that year.", + "(b) Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.", + "The estimated net loss and prior service credit for our defined benefit pension plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2019 are $7 million and $7 million.", + "The estimated net loss and prior service credit for our other defined benefit postretirement plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2019 are $1 million and $18 million.", + "Plan assumptions \u2013 The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2018, 2017 and 2016." + ], + "question_id": "simplong-test-80", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Ending balance of Fiscal Year 2017, and ETBH Capital Trust XXIII\u2014XXIV of Face Value ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "FHLB Advances and Other Borrowings FHLB Advances\u2014The Company had $0.7 billion in floating-rate and $0.2 billion in fixed-rate FHLB advances at both December 31, 2013 and 2012.", + "The floating-rate advances adjust quarterly based on the LIBOR.", + "During the year ended December 31, 2012, $650.0 million of fixed-rate FHLB advances were converted to floating-rate for a total cost of approximately $128 million which was capitalized and will be amortized over the remaining maturities using the effective interest method.", + "In addition, during the year ended December 31, 2012, the Company paid down in advance of maturity $1.0 billion of its FHLB advances and recorded $69.1 million in losses on the early extinguishment.", + "This loss was recorded in the gains (losses) on early extinguishment of debt line item in the consolidated statement of income (loss).", + "The Company did not have any similar transactions for the years ended December 31, 2013 and 2011.", + "As a condition of its membership in the FHLB Atlanta, the Company is required to maintain a FHLB stock investment currently equal to the lesser of: a percentage of 0.12% of total Bank assets; or a dollar cap amount of $20 million.", + "Additionally, the Bank must maintain an Activity Based Stock investment which is currently equal to 4.5% of the Bank\u2019s outstanding advances at the time of borrowing.", + "The Company had an investment in FHLB stock of $61.4 million and $67.4 million at December 31, 2013 and 2012, respectively.", + "The Company must also maintain qualified collateral as a percent of its advances, which varies based on the collateral type, and is further adjusted by the outcome of the most recent annual collateral audit and by FHLB\u2019s internal ranking of the Bank\u2019s creditworthiness.", + "These advances are secured by a pool of mortgage loans and mortgage-backed securities.", + "At December 31, 2013 and 2012, the Company pledged loans with a lendable value of $3.9 billion and $4.8 billion, respectively, of the one- to four-family and home equity loans as collateral in support of both its advances and unused borrowing lines.", + "Other Borrowings\u2014Prior to 2008, ETBH raised capital through the formation of trusts, which sold trust preferred securities in the capital markets.", + "The capital securities must be redeemed in whole at the due date, which is generally 30 years after issuance.", + "Each trust issued Floating Rate Cumulative Preferred Securities (\u201ctrust preferred securities\u201d), at par with a liquidation amount of $1,000 per capital security.", + "The trusts used the proceeds from the sale of issuances to purchase Floating Rate Junior Subordinated Debentures (\u201csubordinated debentures\u201d) issued by ETBH, which guarantees the trust obligations and contributed proceeds from the sale of its subordinated debentures to E*TRADE Bank in the form of a capital contribution.", + "The most recent issuance of trust preferred securities occurred in 2007.", + "The face values of outstanding trusts at December 31, 2013 are shown below (dollars in thousands):", + "|Trusts|Face Value|Maturity Date|Annual Interest Rate|\n|ETBH Capital Trust II|$5,000|2031|10.25%|\n|ETBH Capital Trust I|20,000|2031|3.75% above 6-month LIBOR|\n|ETBH Capital Trust V, VI, VIII|51,000|2032|3.25%-3.65% above 3-month LIBOR|\n|ETBH Capital Trust VII, IX\u2014XII|65,000|2033|3.00%-3.30% above 3-month LIBOR|\n|ETBH Capital Trust XIII\u2014XVIII, XX|77,000|2034|2.45%-2.90% above 3-month LIBOR|\n|ETBH Capital Trust XIX, XXI, XXII|60,000|2035|2.20%-2.40% above 3-month LIBOR|\n|ETBH Capital Trust XXIII\u2014XXIV|45,000|2036|2.10% above 3-month LIBOR|\n|ETBH Capital Trust XXV\u2014XXX|110,000|2037|1.90%-2.00% above 3-month LIBOR|\n|Total|$433,000|||\n", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 6.", + "Derivative Financial Instruments \u2014 (continued) The fair value of our derivative instruments classified as assets and liabilities was as follows:", + "| | Derivative assets -1| Derivative liabilities -2|\n| | December 31, 2009| December 31, 2008| December 31, 2009| December 31, 2008|\n| |(in millions) |\n| Derivatives designated as hedging instruments|||||\n|Interest rate contracts|$81.5|$250.8|$309.1|$819.2|\n|Foreign exchange contracts|444.4|410.8|240.6|300.4|\n|Total derivatives designated as hedging instruments|$525.9|$661.6|$549.7|$1,119.6|\n| Derivatives not designated as hedging instruments|||||\n|Interest rate contracts|$433.5|$802.1|$336.8|$621.5|\n|Foreign exchange contracts|107.5|121.3|75.0|155.1|\n|Equity contracts|149.8|222.1|\u2014|\u2014|\n|Credit contracts|15.5|70.7|84.0|227.2|\n|Other contracts|\u2014|\u2014|128.1|185.2|\n|Total derivatives not designated as hedging instruments|$706.3|$1,216.2|$623.9|$1,189.0|\n|Total derivative instruments|$1,232.2|$1,877.8|$1,173.6|$2,308.6|\n", + "(1) The fair value of derivative assets is reported with other investments on the consolidated statements of financial position.", + "(2) The fair value of derivative liabilities is reported with other liabilities on the consolidated statements of financial position, with the exception of certain embedded derivative liabilities.", + "Embedded derivative liabilities with a fair value of $23.6 million and $60.2 million as of December 31, 2009, and December 31, 2008, respectively, are reported with contractholder funds on the consolidated statements of financial position.", + "Credit Derivatives Sold When we sell credit protection, we are exposed to the underlying credit risk similar to purchasing a fixed maturity security instrument.", + "The majority of our credit derivative contracts sold reference a single name or reference security (referred to as \u2018\u2018single name credit default swaps\u2019\u2019).", + "The remainder of our credit derivatives reference either a basket or index of securities.", + "These instruments are either referenced in an over-the-counter credit derivative transaction, or embedded within an investment structure that has been fully consolidated into our financial statements.", + "These credit derivative transactions are subject to events of default defined within the terms of the contract, which normally consist of bankruptcy, failure to pay, or modified restructuring of the reference entity and/or issue.", + "If a default event occurs for a reference name or security, we are obligated to pay the counterparty an amount equal to the notional amount of the credit derivative transaction.", + "As a result, our maximum future payment is equal to the notional amount of the credit derivative.", + "In certain cases, we also have purchased credit protection with identical underlyings to certain of our sold protection transactions.", + "The effect of this purchased protection would reduce our total maximum future payments by $47.0 million and $60.8 million as of December 31, 2009, and December 31, 2008, respectively.", + "These credit derivative transactions had a net fair value of $2.4 million and $21.2 million as of December 31, 2009, and December 31, 2008, respectively.", + "Our potential loss could also be reduced by any amount recovered in the default proceedings of the underlying credit name.", + "We purchased certain investment structures with embedded credit features that are fully consolidated into our financial statements.", + "This consolidation results in recognition of the underlying credit derivatives and collateral within the structure, typically high quality fixed maturity securities that are owned by a special purpose vehicle.", + "These credit derivatives reference a single name or several names in a basket structure.", + "In the event of default, the collateral within the structure would typically be liquidated to pay the claims of the credit derivative counterparty.", + "Qorvo, Inc. and Subsidiaries Annual Report on Form 10-K 2019 Notes to Consolidated Financial Statements income to substantially offset the losses earned in prior years.", + "The balance of the cumulative pre-tax book loss was expected to be offset by income in the first half of fiscal 2018 as production at the assembly and test facility continued to increase as the Company reduced its dependence on outside assembly and test subcontractors.", + "After evaluating the positive and negative evidence, management determined that it was more likely than not that the deferred tax assets of this China manufacturing subsidiary would be realized and a valuation allowance would not be provided as of the end of fiscal 2017.", + "As of March 30, 2019, the Company had federal loss carryovers of approximately $39.6 million that expire in fiscal years 2020 to 2030 if unused and state losses of approximately $105.2 million that expire in fiscal years 2020 to 2039 if unused.", + "Federal research credits of $127.6 million, and state credits of $64.9 million may expire in fiscal years 2020 to 2039 and 2020 to 2037, respectively.", + "Foreign losses in the Netherlands of approximately $5.1 million expire in fiscal years 2020 to 2027.", + "Included in the amounts above may be certain net operating losses and other tax attribute assets acquired in conjunction with acquisitions in the current and prior years.", + "The utilization of acquired domestic assets is subject to certain annual limitations as required under Section 382 of the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d) and similar state income tax provisions.", + "The Company has continued to expand its operations and increase its investments in numerous international jurisdictions.", + "These activities expose the Company to taxation in multiple foreign jurisdictions.", + "It is management\u2019s opinion that current and future undistributed foreign earnings will be permanently reinvested, except for the earnings of Qorvo International Pte.", + "Ltd. , our operating subsidiary in Singapore.", + "No provision for U. S. federal income, state income or foreign local withholding taxes has been made with respect to the undistributed earnings of any other foreign subsidiary.", + "It is not practical to estimate the additional tax that would be incurred, if any, if the permanently reinvested earnings were repatriated.", + "The Company has foreign subsidiaries with tax holiday agreements in Singapore and Costa Rica.", + "These tax holiday agreements have varying rates and expire in December 2021 and March 2024, respectively.", + "Incentives from these countries are subject to the Company meeting certain employment and investment requirements.", + "The Company does not expect that the Singapore legislation enacted in February 2017, which will exclude from the Company\u2019s existing Development and Expansion Incentive grant the benefit of the reduced tax rate for intellectual property income earned after June 30, 2021, will have an impact on the Company.", + "Income tax expense decreased by $34.6 million (an impact of approximately $0.28 and $0.27 per basic and diluted share, respectively) in fiscal 2019 and $7.9 million (an impact of approximately $0.06 per basic and diluted share) in fiscal 2018 as a result of these agreements.", + "The Company\u2019s gross unrecognized tax benefits totaled $103.2 million as of March 30, 2019, $122.8 million as of March 31, 2018, and $90.6 million as of April 1, 2017.", + "Of these amounts, $99.1 million (net of federal benefit of state taxes), $118.7 million (net of federal benefit of state taxes) and $84.4 million (net of federal benefit of state taxes) as of March 30, 2019, March 31, 2018, and April 1, 2017, respectively, represent the amounts of unrecognized tax benefits that, if recognized, would impact the effective tax rate in each of the fiscal years.", + "The Company\u2019s gross unrecognized tax benefits decreased from $122.8 million as of March 31, 2018 to $103.2 million as of March 30, 2019, primarily due to lapses of statutes of limitations, the conclusion of examinations by U. S. and Singapore tax authorities, the finalization of Regulations related to the Transitional Repatriation Tax, and finalization of the provisional estimates related to the impact of the Tax Act.", + "A reconciliation of fiscal 2017 through fiscal 2019 beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):", + "||Fiscal Year|\n||2019|2018|2017|\n|Beginning balance|$122,823|$90,615|$69,052|\n|Additions based on positions related to current year|7,193|26,431|20,036|\n|Additions for tax positions in prior years|8,369|5,844|1,878|\n|Reductions for tax positions in prior years|-24,932|-67|-29|\n|Expiration of statute of limitations|-6,972|\u2014|-322|\n|Settlements|-3,303|\u2014|\u2014|\n|Ending balance|$103,178|$122,823|$90,615|\n", + "It is the Company\u2019s policy to recognize interest and penalties related to uncertain tax positions as a component of income tax expense.", + "During fiscal years 2019, 2018 and 2017, the Company recognized", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2008 (In thousands, except share and per share data) 10.", + "Commitments and Contingencies a.", + "Leases Most of our leased facilities are leased under various operating leases that typically have initial lease terms of ten to fifteen years.", + "A majority of these leases have renewal options with one or more five year options to extend and may have fixed or Consumer Price Index escalation clauses.", + "We also lease equipment under operating leases, primarily computers which have an average lease life of three years.", + "Vehicles and office equipment are also leased and have remaining lease lives ranging from one to seven years.", + "Due to the declining economic environment in 2008, the current fair market values of vans, trucks and mobile shredding units within our vehicle fleet portfolio, which we lease, have declined.", + "As a result, certain vehicle leases that previously met the requirements to be considered operating leases were classified as capital leases upon renewal.", + "The 2008 impact of this change on our consolidated balance sheet as of December 31, 2008 was an increase in property, plant and equipment and debt of $58,517 and had no impact on 2008 operating results.", + "Future operating results will have lower vehicle rent expense (a component of transportation costs within cost of sales), offset by an increased amount of combined depreciation and interest expense in future periods.", + "Total rent expense (including common area maintenance charges) under all of our operating leases was $207,760, $240,833 and $280,360 (including $20,828 associated with vehicle leases which became capital leases in 2008) for the years ended December 31, 2006, 2007 and 2008, respectively.", + "Included in total rent expense was sublease income of $3,740, $4,973 and $5,341 for the years ended December 31, 2006, 2007 and 2008, respectively.", + "Estimated minimum future lease payments (excluding common area maintenance charges) include payments for certain renewal periods at our option because failure to renew results in an economic disincentive due to significant capital expenditure costs (e. g. , racking), thereby making it reasonably assured that we will renew the lease.", + "Such payments in effect at December 31, are as follows:", + "| Year| Operating Lease Payment| Sublease Income|Capital Leases|\n|2009|$225,290|$3,341|$28,608|\n|2010|201,315|1,847|27,146|\n|2011|191,588|1,223|19,116|\n|2012|186,600|1,071|25,489|\n|2013|181,080|988|9,419|\n|Thereafter|2,109,086|3,539|95,445|\n|Total minimum lease payments|$3,094,959|$12,009|$205,223|\n|Less amounts representing interest|||-73,536|\n|Present value of capital lease obligations|||$131,687|\n", + "We have guaranteed the residual value of certain vehicle operating leases to which we are a party.", + "The maximum net residual value guarantee obligation for these vehicles as of December 31, 2008 was $30,415.", + "Such amount does not take into consideration the recovery or resale value associated with these vehicles.", + "We believe that it is not reasonably likely that we will be required to perform under", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2012 (In thousands, except share and per share data) 5.", + "Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors (Continued", + "||Year Ended December 31, 2012|\n||Parent|Guarantors|Canada Company|Non- Guarantors|Eliminations|Consolidated|\n|Cash Flows from Operating Activities:|||||||\n|Cash Flows from Operating Activities-Continuing Operations|$-195,478|$496,542|$48,037|$94,551|$\u2014|$443,652|\n|Cash Flows from Operating Activities-Discontinued Operations|\u2014|-8,814|\u2014|-2,102|\u2014|-10,916|\n|Cash Flows from Operating Activities|-195,478|487,728|48,037|92,449|\u2014|432,736|\n|Cash Flows from Investing Activities:|||||||\n|Capital expenditures|\u2014|-134,852|-10,829|-95,002|\u2014|-240,683|\n|Cash paid for acquisitions, net of cash acquired|\u2014|-28,126|\u2014|-97,008|\u2014|-125,134|\n|Intercompany loans to subsidiaries|88,376|-110,142|\u2014|\u2014|21,766|\u2014|\n|Investment in subsidiaries|-37,572|-37,572|\u2014|\u2014|75,144|\u2014|\n|Investment in restricted cash|1,498|\u2014|\u2014|\u2014|\u2014|1,498|\n|Additions to customer relationship and acquisition costs|\u2014|-23,543|-2,132|-3,197|\u2014|-28,872|\n|Investment in joint ventures|-2,330|\u2014|\u2014|\u2014|\u2014|-2,330|\n|Proceeds from sales of property and equipment and other, net|\u2014|-1,739|5|3,191|\u2014|1,457|\n|Cash Flows from Investing Activities-Continuing Operations|49,972|-335,974|-12,956|-192,016|96,910|-394,064|\n|Cash Flows from Investing Activities-Discontinued Operations|\u2014|-1,982|\u2014|-4,154|\u2014|-6,136|\n|Cash Flows from Investing Activities|49,972|-337,956|-12,956|-196,170|96,910|-400,200|\n|Cash Flows from Financing Activities:|||||||\n|Repayment of revolving credit and term loan facilities and other debt|\u2014|-2,774,070|-3,069|-67,554|\u2014|-2,844,693|\n|Proceeds from revolving credit and term loan facilities and other debt|\u2014|2,680,107|\u2014|51,078|\u2014|2,731,185|\n|Early retirement of senior subordinated notes|-525,834|\u2014|\u2014|\u2014|\u2014|-525,834|\n|Net proceeds from sales of senior subordinated notes|985,000|\u2014|\u2014|\u2014|\u2014|985,000|\n|Debt financing (repayment to) and equity contribution from (distribution to) noncontrolling interests, net|\u2014|\u2014|\u2014|480|\u2014|480|\n|Intercompany loans from parent|\u2014|-89,878|714|110,930|-21,766|\u2014|\n|Equity contribution from parent|\u2014|37,572|\u2014|37,572|-75,144|\u2014|\n|Stock repurchases|-38,052|\u2014|\u2014|\u2014|\u2014|-38,052|\n|Parent cash dividends|-318,845|\u2014|\u2014|\u2014|\u2014|-318,845|\n|Proceeds from exercise of stock options and employee stock purchase plan|40,244|\u2014|\u2014|\u2014|\u2014|40,244|\n|Excess tax benefits from stock-based compensation|1,045|\u2014|\u2014|\u2014|\u2014|1,045|\n|Payment of debt finacing costs|-1,480|-781|\u2014|\u2014|\u2014|-2,261|\n|Cash Flows from Financing Activities-Continuing Operations|142,078|-147,050|-2,355|132,506|-96,910|28,269|\n|Cash Flows from Financing Activities-Discontinued Operations|\u2014|\u2014|\u2014|-39|\u2014|-39|\n|Cash Flows from Financing Activities|142,078|-147,050|-2,355|132,467|-96,910|28,230|\n|Effect of exchange rates on cash and cash equivalents|\u2014|\u2014|1,867|937|\u2014|2,804|\n|(Decrease) Increase in cash and cash equivalents|-3,428|2,722|34,593|29,683|\u2014|63,570|\n|Cash and cash equivalents, beginning of period|3,428|10,750|68,907|96,760|\u2014|179,845|\n|Cash and cash equivalents, end of period|$\u2014|$13,472|$103,500|$126,443|$\u2014|$243,415|\n", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2014 (In thousands, except share and per share data) 2.", + "Summary of Significant Accounting Policies (Continued) Stock Options Under our various stock option plans, options are generally granted with exercise prices equal to the market price of the stock on the date of grant; however, in certain limited instances, options are granted at prices greater than the market price of the stock on the date of grant.", + "The majority of our options become exercisable ratably over a period of five years from the date of grant and generally have a contractual life of ten years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "Certain of the options we issue become exercisable ratably over a period of ten years from the date of grant and have a contractual life of 12 years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "As of December 31, 2014, ten-year vesting options represented 8.0% of total outstanding options.", + "Certain of the options we issue become exercisable ratably over a period of three years from the date of grant and have a contractual life of ten years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "As of December 31, 2014, three-year vesting options represented 34.3% of total outstanding options.", + "Our non-employee directors are considered employees for purposes of our stock option plans and stock option reporting.", + "Options granted to our non-employee directors generally become exercisable one year from the date of grant.", + "Our equity compensation plans generally provide that any unvested options and other awards granted thereunder shall vest immediately if an employee is terminated by the Company, or terminates his or her own employment for good reason (as defined in each plan), in connection with a vesting change in control (as defined in each plan).", + "On January 20, 2015, our stockholders approved the adoption of the Iron Mountain Incorporated 2014 Stock and Cash Incentive Plan (the \u2018\u20182014 Plan\u2019\u2019).", + "Under the 2014 Plan, the total amount of shares of common stock reserved and available for issuance pursuant to awards granted under the 2014 Plan is 7,750,000.", + "The 2014 Plan permits the Company to continue to grant awards through January 20, 2025.", + "A total of 43,253,839 shares of common stock have been reserved for grants of options and other rights under our various stock incentive plans, including the 2014 Plan.", + "The number of shares available for grant under our various stock incentive plans, not including the 2014 Plan, at December 31, 2014 was 4,581,754.", + "The weighted average fair value of options granted in 2012, 2013 and 2014 was $7.00, $7.69 and $5.70 per share, respectively.", + "These values were estimated on the date of grant using the Black-Scholes option pricing model." + ], + "question_id": "simplong-test-81", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of Volume \u2013 Units excluding those Volume \u2013 Units greater than 1000 inEMEA Latin America", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents ADOBE INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Goodwill, Purchased Intangibles and Other Long-Lived Assets Goodwill is assigned to one or more reporting segments on the date of acquisition.", + "We review our goodwill for impairment annually during our second quarter of each fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount.", + "In performing our goodwill impairment test, we first perform a qualitative assessment, which requires that we consider events or circumstances including macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting segment\u2019s net assets and changes in our stock price.", + "If, after assessing the totality of events or circumstances, we determine that it is more likely than not that the fair values of our reporting segments are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed.", + "If the qualitative assessment indicates that the quantitative analysis should be performed, we then 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 equal weighting of 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 completed our annual goodwill impairment test in the second quarter of fiscal 2018.", + "We determined, after performing a qualitative review of each reporting segment, that it is more likely than not that the fair value of each of our reporting segments substantially exceeds the respective carrying amounts.", + "Accordingly, there was no indication of impairment and the quantitative goodwill impairment test was not performed.", + "We did not identify any events or changes in circumstances since the performance of our annual goodwill impairment test that would require us to perform another goodwill impairment test during the fiscal year.", + "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 2018, 2017 or 2016.", + "During fiscal 2018, our intangible assets were amortized over their estimated useful lives ranging from 1 to 14 years.", + "Amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent.", + "The weighted average useful lives of our intangible assets were as follows:", + "||Weighted AverageUseful Life (years)|\n|Purchased technology|6|\n|Customer contracts and relationships|9|\n|Trademarks|9|\n|Acquired rights to use technology|10|\n|Backlog|2|\n|Other intangibles|4|\n", + "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.", + "2007 compared with 2006 The decrease in interest expense in 2007 compared with 2006 was primarily due to the following: ?", + "a $7.2 million decrease due to the retirement of the Company\u2019s 5.625% euro notes in July 2006; ?", + "a decrease of $4.3 million related to higher capitalized interest during the construction of capital investment projects in 2007 compared with 2006; partially offset by; ?", + "an increase of $1.8 million as a result of additional expense related to the compounding of interest on the amount payable pursuant to the asbestos settlement agreement; and ?", + "an increase of $1.2 million due to the impact of higher interest rates on the Company\u2019s $300.0 million of outstanding interest rate swaps entered into to effectively convert its 5.375% senior notes due April 2008 into floating rate debt.2006 compared with 2005 The decrease in interest expense in 2006 compared with 2005 was primarily due to the following: ?", + "a $7.5 million decrease due to the retirement of the Company\u2019s 5.625% euro notes in July 2006, and ?", + "a decrease of $1.8 million related to higher capitalized interest during the construction of capital investment projects in 2006 compared with 2005; partially offset by; ?", + "an increase of $5.0 million due to the impact of higher interest rates on the Company\u2019s $300.0 million of outstanding interest rate swaps entered into to effectively convert its 5.375% senior notes due April 2008 into floating rate debt; and ?", + "an increase of $1.7 million caused by additional expense related to the compounding of interest on the amount payable pursuant to the asbestos settlement agreement.", + "Gain on Sale of Equity Method Investment On February 9, 2007, the Company sold its 50% investment in PolyMask Corporation to its joint venture partner, 3M Company (the \u2018\u2018PolyMask transaction\u2019\u2019).", + "The joint venture was formed in 1991 between the Company and 3M to produce and sell non-packaging surface protection films.", + "Prior to the sale, the Company accounted for this joint venture under the equity method of accounting.", + "The Company received an aggregate cash amount of $36.0 million for the transaction and other related assets and recorded a pre-tax gain of $35.3 million ($22.4 million after-tax) in the first quarter of 2007.", + "This gain was reflected as a gain on sale of equity method investment on the Company\u2019s consolidated statements of operations.", + "The Company\u2019s proportionate share of PolyMask Corporation\u2019s net income was $0.4 million in 2007, $3.9 million in 2006 and $2.6 million in 2005 and was included in other income, net, on the consolidated statements of operations.", + "The Company\u2019s investment in this joint venture was not material to the Company\u2019s consolidated financial position or results of operations.", + "Other Income, Net The following table provides details of the Company\u2019s other income, net:", + "||2007|2006|2005|\n|Interest and dividend income|$19.9|$16.8|$11.1|\n|Net foreign exchange transaction loss|-6.4|-4.1|-4.7|\n|Asbestos settlement and related costs|-0.7|-1.6|-2.2|\n|Advisory expenses incurred prior to ceasing work on an acquisition|-7.5|\u2014|\u2014|\n|Loss on sale of small product line|-6.8|\u2014|\u2014|\n|Gain on termination of forward starting interest rate swaps|3.7|\u2014|\u2014|\n|Other, net|9.8|10.9|11.7|\n|Other income, net|$12.0|$22.0|$15.9|\n", + "Interest and dividend income increased in 2007 compared with 2006 and 2005 primarily due to higher interest rates on the Company\u2019s investments and to a lesser extent higher cash balances.", + "See Note 12,", + "Global Operations We operate through our subsidiaries and have a presence in the U. S. and the 57 other countries/regions listed below, enabling us to distribute our products to our customers in 122 countries/regions.", + "|Argentina|Egypt|Italy|Peru|Sweden|\n|Australia|Finland|Jamaica|Philippines|Switzerland|\n|Austria|France|Japan|Poland|Taiwan|\n|Belgium|Germany|Kenya|Portugal|Thailand|\n|Brazil|Greece|Luxembourg|Romania|Turkey|\n|Canada|Guatemala|Malaysia|Russia|Ukraine|\n|Chile|Hong Kong|Mexico|Saudi Arabia|United Arab Emirates|\n|China|Hungary|Morocco|Singapore|United Kingdom|\n|Colombia|India|Netherlands|Slovakia|Uruguay|\n|Costa Rica|Indonesia|New Zealand|South Africa||\n|Czech Republic|Ireland|Nigeria|South Korea||\n|Denmark|Israel|Norway|Spain||\n", + "In maintaining our foreign operations, we face risks inherent in these operations, such as currency fluctuations, inflation and political instability.", + "Information on currency exchange risk appears in Part II, Item 7A of this Annual Report on Form 10-K, which information is incorporated herein by reference.", + "Other risks attendant to our foreign operations are set forth in Part I, Item 1A \u201cRisk Factors,\u201d of this Annual Report on Form 10-K, which information is incorporated herein by reference.", + "Information on the impact of currency exchange on our Consolidated Financial Statements appears in Part II, Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations.", + "\u201d Financial information showing net sales and total long-lived assets by geographic region for each of the two years ended December 31, 2017 appears in Note 4, \u201cSegments,\u201d which information is incorporated herein by reference.", + "We maintain programs to comply with the various laws, rules and regulations related to the protection of the environment that we may be subject to in the many countries/regions in which we operate.", + "See Part II, Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d under the caption \u201cEnvironmental Matters.", + "\u201d Employees As of December 31, 2017, we had approximately 15,000 employees worldwide.", + "Approximately 5,800 of these employees were in the U. S. , with approximately 112 of these employees covered by collective bargaining agreements.", + "Of the approximately 9,200 employees who were outside the U. S. , approximately 5,400 were covered by collective bargaining agreements.", + "Collective bargaining agreements related to 15% of our employees, primarily outside the U. S. , will expire within the next year and we will be engaged in negotiations to attain new agreements.", + "Many of the covered employees are represented by works councils or industrial boards, as is customary in the jurisdictions in which they are employed.", + "We believe that our employee relations are satisfactory.", + "Marketing, Distribution and Customers At December 31, 2017, we employed approximately 2,300 sales, marketing and customer service personnel throughout the world who sell and market our products to and through a large number of distributors, fabricators, converters, e-commerce and mail order fulfillment firms, and contract packaging firms as well as directly to end-users such as food processors, foodservice businesses, supermarket retailers, lodging, retail, pharmaceutical companies, healthcare facilities, medical device manufacturers, and other manufacturers.", + "To support our Food Care and New Ventures customers, we operate three Packforum?", + "innovation and learning centers that are located in the U. S. , France, and China.", + "At Packforum?", + "Centers, we assist customers in identifying the appropriate packaging materials and systems to meet their needs.", + "We also offer ideation services, educational seminars, employee training and customized graphic design services to our customers.", + "To assist our marketing efforts for our Product Care products and to provide specialized customer services, we operate 35 industrial Package Design Centers (PDCs) worldwide within our facilities.", + "These PDCs are staffed with professional", + "net sales excluding the impact of foreign currency translation, a non-U.", + "S. GAAP measure, which we define as \u201cconstant dollar\u201d and the change in net sales excluding acquisitions and divestitures and the impact of foreign currency translation, a non-U.", + "S. GAAP measure, which we define as \"organic. \"", + "We believe using constant and organic dollar measures aids in the comparability between periods as it eliminates the volatility of changes in foreign currency exchange rates and eliminates large fluctuations due to acquisitions or divestitures.", + "|(In millions)|North America|EMEA|Latin America|APAC|Total|\n|2017 Net Sales|$2,415.0|54.1%|$984.7|22.1%|$409.3|9.2%|$652.6|14.6%|$4,461.6||\n|Volume \u2013 Units|14.2|0.6%|15.1|1.5%|23.4|5.7%|15.0|2.3%|67.7|1.5%|\n|Price/mix-1|76.0|3.1%|13.7|1.4%|45.6|11.1%|-2.3|-0.4%|133.0|3.0%|\n|Total organic change (non-U.S. GAAP)|90.2|3.7%|28.8|2.9%|69.0|16.8%|12.7|1.9%|200.7|4.5%|\n|Acquisition|43.8|1.8%|\u2014|\u2014%|1.4|0.3%|68.6|10.5%|113.8|2.6%|\n|Total constant dollar change (non-U.S. GAAP)|134.0|5.5%|28.8|2.9%|70.4|17.1%|81.3|12.4%|314.5|7.1%|\n|Foreign currency translation|-0.1|\u2014%|24.5|2.5%|-62.6|-15.3%|-5.2|-0.8%|-43.4|-1.0%|\n|Total change (U.S. GAAP)|133.9|5.5%|53.3|5.4%|7.8|1.8%|76.1|11.6%|271.1|6.1%|\n|2018 Net Sales|$2,548.9|53.9%|$1,038.0|21.9%|$417.1|8.8%|$728.7|15.4%|$4,732.7||\n", + "(In millions)", + "|(In millions)|North America|EMEA|Latin America|APAC|Total|\n|2016 Net Sales|$2,237.8|53.1%|$962.7|22.9%|$396.8|9.4%|$614.0|14.6%|$4,211.3||\n|Volume \u2013 Units|161.4|7.2%|12.9|1.3%|5.9|1.5%|8.6|1.4%|188.8|4.5%|\n|Price/mix-1|12.9|0.6%|-7.9|-0.8%|4.0|1.0%|-1.0|-0.2%|8.0|0.2%|\n|Total organic change (non-U.S. GAAP)|174.3|7.8%|5.0|0.5%|9.9|2.5%|7.6|1.2%|196.8|4.7%|\n|Acquisition|\u2014|\u2014%|\u2014|\u2014%|\u2014|\u2014%|23.6|3.8%|23.6|0.6%|\n|Total constant dollar change (non-U.S. GAAP)|174.3|7.8%|5.0|0.5%|9.9|2.5%|31.2|5.0%|220.4|5.3%|\n|Foreign currency translation|2.9|0.1%|17.0|1.8%|2.6|0.7%|7.4|1.2%|29.9|0.7%|\n|Total change (U.S. GAAP)|177.2|7.9%|22.0|2.3%|12.5|3.2%|38.6|6.2%|250.3|6.0%|\n|2017 Net Sales|$2,415.0|54.1%|$984.7|22.1%|$409.3|9.2%|$652.6|14.6%|$4,461.6||\n", + "(1) Our price/mix reported above includes the net impact of our pricing actions and rebates as well as the period-to-period change in the mix of products sold.", + "Also included in our reported price/mix is the net effect of some of our customers purchasing our products in non-U.", + "S. dollar or euro-denominated countries at selling prices denominated in U. S. dollars or euros.", + "This primarily arises when we export products from the U. S. and euro-zone countries.", + "The impact to our reported price/mix of these purchases in other countries at selling prices denominated in U. S. dollars or euros was not material in the periods included in the table above.", + "Net Sales by Segment The following tables present the components of change in net sales by our segment reporting structure for the year ended December 31, 2018 compared with 2017 and for the year ended December 31, 2017 compared with 2016.", + "We also present the change in net sales excluding the impact of foreign currency translation, a non-U.", + "S. GAAP measure, which we define as \u201cconstant dollar\u201d and the change in net sales excluding acquisitions and divestitures and the impact of foreign currency" + ], + "question_id": "simplong-test-82", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Net written premiums for Specialty and Other revenue, primarily operating in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 11.", + "Income Taxes \u2013 (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 (\u201cCAP\u201d), 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 2000.", + "As discussed in Note 1, the Company adopted the provisions of FIN No.48, \u201cAccounting for Uncertainty in Income Taxes,\u201d 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:", + "|Balance, January 1, 2007|$70|\n|Additions based on tax positions related to the current year|12|\n|Additions for tax positions of prior years|3|\n|Reductions for tax positions related to the current year|-23|\n|Settlements|-6|\n|Expiration of statute of limitations|-3|\n|Balance, December 31, 2007|$53|\n", + "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\u2019s 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 $1,601 million, $1,557 million and $639 million, computed by applying the statutory U. S. federal income tax rate of 35% to income before income taxes and minority interest for each of the years.", + "Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations \u2013 CNA Financial \u2013 (Continued)", + "|Year Ended December 31, 2014|Specialty|Commercial|International|Total|\n|(In millions, except %)|||||\n|Net written premiums|$2,839|$2,817|$880|$6,536|\n|Net earned premiums|2,838|2,906|913|6,657|\n|Net investment income|560|723|61|1,344|\n|Net operating income|569|276|63|908|\n|Net realized investment gains (losses)|9|9|-1|17|\n|Net income|578|285|62|925|\n|Other performance metrics:|||||\n|Loss and loss adjustment expense ratio|57.3%|75.3%|53.5%|64.6%|\n|Expense ratio|30.1|33.7|38.9|32.9|\n|Dividend ratio|0.2|0.3||0.2|\n|Combined ratio|87.6%|109.3%|92.4%|97.7%|\n|Rate|3%|5%|-1%|3%|\n|Retention|87%|73%|74%|78%|\n|New Business (a)|$309|$491|$115|$915|\n", + "(a) Includes Hardy new business of $133 million for the year ended December 31, 2016.", + "Prior years amounts are not included for Hardy.2016 Compared with 2015 Net written premiums increased $21 million in 2016 as compared with 2015.", + "Net written premiums for Commercial increased $23 million in 2016 as compared with 2015, driven by strong retention in middle markets, partially offset by a decrease in small business, which included a premium rate adjustment, as discussed in Note 18 of the Notes to Consolidated Financial Statements under Item 8.", + "Net written premiums for Specialty in 2016 were consistent with 2015 as growth in warranty was offset by a decrease in management and professional liability and health care due to underwriting actions undertaken in certain business lines.", + "Net written premiums for International in 2016 were consistent with 2015 and include favorable period over period premium development of $24 million.", + "Excluding the effect of foreign currency exchange rates and premium development, net written premiums increased 1.4% in 2016 in International.", + "The increase in net earned premiums was consistent with the trend in net written premiums in Commercial.", + "Excluding the effect of foreign currency exchange rates and premium development, the increase in net earned premiums was consistent with the trend in net written premiums in International.", + "Net operating income increased $15 million in 2016 as compared with 2015.", + "The increase in net operating income was primarily due to higher favorable net prior year reserve development and net investment income, partially offset by an increase in the current accident year loss ratio and higher underwriting expenses.", + "Catastrophe losses were $100 million (after tax and noncontrolling interests) in 2016 as compared to catastrophe losses of $85 million (after tax and noncontrolling interests) in 2015.", + "Favorable net prior year development of $316 million and $218 million was recorded in 2016 and 2015.", + "Specialty recorded favorable net prior year development of $305 million and $152 million in 2016 and 2015, Commercial recorded unfavorable net prior year development of $53 million in 2016 as compared with favorable net prior year development of $30 million in 2015 and International recorded favorable net prior year development of $64 million and $36 million in 2016 and 2015.", + "Further information on net prior year development is included in Note 8 of the Notes to Consolidated Financial Statements included under Item 8.", + "Specialty\u2019s combined ratio decreased 3.7 points in 2016 as compared with 2015.", + "The loss ratio decreased 4.6 points due to higher favorable net prior year reserve development, partially offset by a higher current accident year loss ratio.", + "Specialty\u2019s expense ratio increased 0.9 points in 2016 as compared with 2015 due to higher employee costs and higher information technology (\u201cIT\u201d) spending primarily related to new underwriting platforms.", + "Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations \u2013 Boardwalk Pipeline \u2013 (Continued) Results of Operations The following table summarizes the results of operations for Boardwalk Pipeline for the years ended December 31, 2016, 2015 and 2014 as presented in Note 20 of the Notes to Consolidated Financial Statements included under Item 8:", + "| Year Ended December 31|2016|2015|2014|\n| (In millions)||||\n|Revenues:||||\n|Other revenue, primarily operating|$ 1,316|$ 1,253|$ 1,235|\n|Net investment income||1|1|\n|Total|1,316|1,254|1,236|\n|Expenses:||||\n|Operating|835|851|931|\n|Interest|183|176|165|\n|Total|1,018|1,027|1,096|\n|Income before income tax|298|227|140|\n|Income tax expense|-61|-46|-11|\n|Amounts attributable to noncontrolling interests|-148|-107|-111|\n|Net income attributable to Loews Corporation|$ 89|$ 74|$ 18|\n", + "2016 Compared with 2015 Total revenues increased $62 million in 2016 as compared with 2015.", + "Excluding the net effect of $13 million of proceeds received from the settlement of a legal matter in 2016, $9 million of proceeds received from a business interruption claim in 2015 and items offset in fuel and transportation expense, primarily retained fuel, operating revenues increased $83 million.", + "The increase was driven by an increase in transportation revenues of $71 million, which resulted primarily from growth projects recently placed into service, incremental revenues from the Gulf South rate case of $18 million and a full year of revenues from the Evangeline pipeline.", + "Storage and PAL revenues were higher by $17 million primarily from the effects of favorable market conditions on time period price spreads.", + "Operating expenses decreased $16 million in 2016 as compared with 2015.", + "Excluding receipt of a franchise tax refund of $10 million in 2015 and items offset in operating revenues, operating costs and expenses increased $5 million primarily due to higher employee related costs, partially offset by decreases in maintenance activities and depreciation expense.", + "Interest expense increased $7 million primarily due to higher average interest rates compared to 2015.", + "Net income increased $15 million in 2016 as compared with 2015, primarily reflecting higher revenues and lower operating expenses, partially offset by higher interest expense as discussed above.2015 Compared with 2014 Total revenues increased $18 million in 2015 as compared with 2014.", + "Excluding the business interruption claim proceeds of $8 million and items offset in fuel and transportation expense, primarily retained fuel, operating revenues increased $33 million.", + "This increase is primarily due to higher transportation revenues of $39 million from growth projects recently placed into service, including the Evangeline pipeline which was acquired in October of 2014 and $20 million of additional revenues resulting from the Gulf South rate case, partially offset by the effects of comparably warm weather experienced in the early part of the 2015 period in Boardwalk Pipeline\u2019s market areas and unfavorable market conditions.", + "Storage and PAL revenues decreased $20 million primarily as a result of the effects of unfavorable market conditions on time period price spreads.", + "Operating expenses decreased $80 million in 2015 as compared with 2014.", + "This decrease is primarily due to a $94 million prior year charge to write off all capitalized costs associated with the terminated Bluegrass project, a $10 million franchise tax refund related to settlement of prior tax periods and a decrease in fuel and transportation expense due to lower natural gas prices.", + "These decreases were partially offset by higher depreciation expense of $35" + ], + "question_id": "simplong-test-83", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage change in aggregate notional amount of outstanding foreign currency hedges from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The Company recognizes over the requisite service period the fair value cost determined at the grant date based on numerous assumptions, including an estimate of the likelihood that Apache\u2019s stock price will achieve these thresholds and the expected forfeiture rate.", + "If a price target is not met before the end of the stated achievement period, any unamortized expense must be immediately recognized.", + "Since the $162 interim price target of the 2008 Share Appreciation Program was not met prior to the stated achievement period, on December 31, 2010, Apache recognized $27 million of unamortized expense and $14 million of unamortized capital costs.", + "The Company will recognize total expense and capitalized costs for the 2008 Share Appreciation Program of approximately $188 million through 2014.", + "As of March 2011, the Company had recognized $79 million of total expense and capitalized costs for the 2005 Share Appreciation Program and had no unamortized costs remaining.", + "A summary of the amounts recognized as expense and capitalized costs for each plan are detailed in the table below:", + "|| For the Year Ended December 31,|\n|| 2011| 2010| 2009|\n|| (In millions)|\n| 2008 Share Appreciation Program||||\n|Compensation expense|$8|$49|$23|\n|Compensation expense, net of tax|5|31|15|\n|Capitalized costs|5|27|13|\n| 2005 Share Appreciation Plan||||\n|Compensation expense|$1|$6|$6|\n|Compensation expense, net of tax|1|4|4|\n|Capitalized costs|1|3|3|\n", + "Preferred Stock The Company has 10,000,000 shares of no par preferred stock authorized, of which 25,000 shares have been designated as Series A Junior Participating Preferred Stock (the Series A Preferred Stock) and 1.265 million shares as 6.00-percent Mandatory Convertible Preferred Stock, Series D (the Series D Preferred Stock).", + "The Company redeemed the 100,000 outstanding shares of its 5.68 percent Series B Cumulative Preferred Stock (the Series B Preferred Stock) on December 30, 2009.", + "Series A Preferred Stock In December 1995, the Company declared a dividend of one right (a Right) for each 2.31 shares (adjusted for subsequent stock dividends and a two-for-one stock split) of Apache common stock outstanding on January 31, 1996.", + "Each full Right entitles the registered holder to purchase from the Company one ten-thousandth (1/10,000) of a share of Series A Preferred Stock at a price of $100 per one ten-thousandth of a share, subject to adjustment.", + "The Rights are exercisable 10 calendar days following a public announcement that certain persons or groups have acquired 20 percent or more of the outstanding shares of Apache common stock or 10 business days following commencement of an offer for 30 percent or more of the outstanding shares of Apache\u2019s outstanding common stock (flip in event); each Right will become exercisable for shares of Apache\u2019s common stock at 50 percent of the then-market price of the common stock.", + "If a 20-percent shareholder of Apache acquires Apache, by merger or otherwise, in a transaction where Apache does not survive or in which Apache\u2019s common stock is changed or exchanged (flip over event), the Rights become exercisable for shares of the common stock of the Company acquiring Apache at 50 percent of the then-market price for Apache common stock.", + "Any Rights that are or were beneficially owned by a person who has acquired 20 percent or more of the outstanding shares of Apache common stock and who engages in certain transactions or realizes the benefits of", + "Shareholder Information Stock Data", + "|| Price Range| Dividends per Share|\n|| High| Low| Declared| Paid|\n|2011|||||\n|First Quarter|$132.50|$110.29|$0.15|$0.15|\n|Second Quarter|134.13|114.94|0.15|0.15|\n|Third Quarter|129.26|80.05|0.15|0.15|\n|Fourth Quarter|105.64|73.04|0.15|0.15|\n|2010|||||\n|First Quarter|$108.92|$95.15|$0.15|$0.15|\n|Second Quarter|111.00|83.55|0.15|0.15|\n|Third Quarter|99.09|81.94|0.15|0.15|\n|Fourth Quarter|120.80|96.51|0.15|0.15|\n", + "The Company has paid cash dividends on its common stock for 47 consecutive years through December 31, 2011.", + "Future dividend payments will depend upon the Company\u2019s level of earnings, financial requirements and other relevant factors.", + "Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ National Market (symbol APA).", + "At December 31, 2011, the Company\u2019s shares of common stock outstanding were held by approximately 5,600 shareholders of record and 444,000 beneficial owners.", + "Also listed on the New York Stock Exchange are: ?", + "Apache Depositary Shares (symbol APA/PD), each representing a 1/20th interest in Apache\u2019s 6% Mandatory Convertible Preferred Stock, Series D ?", + "Apache Finance Canada\u2019s 7.75% notes, due 2029 (symbol APA/29) Corporate Offices One Post Oak Central 2000 Post Oak Boulevard Suite 100 Houston, Texas 77056-4400 (713) 296-6000 Independent Public Accountants Ernst & Young LLP Five Houston Center 1401 McKinney Street, Suite 1200 Houston, Texas 77010-2007 Stock Transfer Agent and Registrar Wells Fargo Bank, N. A. Attn: Shareowner Services P. O.", + "Box 64854 South St. Paul, Minnesota 55164-0854 (651) 450-4064 or (800) 468-9716 Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings, or change of address should be directed to the stock transfer agent.", + "Shareholders can access account information on the web site: www.", + "shareowneronline.", + "com Dividend Reinvestment Plan Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price.", + "Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service.", + "All bank service fees and brokerage commissions on purchases are paid by Apache.", + "A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Direct Registration Shareholders of record may hold their shares of Apache common stock in book-entry form.", + "This eliminates costs related to safekeeping or replacing paper stock certificates.", + "In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company\u2019s stock transfer agent and your broker.", + "Stock certificates may be converted to book-entry shares at any time.", + "Questions regarding this service may be directed to the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Annual Meeting Apache will hold its annual meeting of shareholders on Thursday, May 24, 2012, at 10:00 a. m. in the Ballroom, Hilton Houston Post Oak, 2001 Post Oak Boulevard, Houston, Texas.", + "Apache plans to web cast the annual meeting live; connect through the Apache web site: www.", + "apachecorp.", + "com Stock Held in \u201cStreet Name\u201d The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis.", + "Shareholders wanting to be added to this list should direct their requests to Apache\u2019s Public and International Affairs Department, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400, by calling (713) 296-6157 or by registering on Apache\u2019s web site: www.", + "apachecorp.", + "com Form 10-K Request Shareholders and other persons interested in obtaining, without cost, a copy of the Company\u2019s Form 10-K filed with the Securities and Exchange Commission may do so by writing to Cheri L. Peper, Corporate Secretary, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400.", + "Investor Relations Shareholders, brokers, securities analysts, or portfolio managers seeking information about the Company are welcome to contact Patrick Cassidy, Investor Relations Director, at (713) 296-6100.", + "Members of the news media and others seeking information about the Company should contact Apache\u2019s Public and International Affairs Department at (713) 296-7276.", + "Web site: www.", + "apachecorp.", + "com", + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures.", + "The reserve data in the following tables only represent estimates and should not be construed as being exact.", + "||Crude Oil and Condensate (Thousands of barrels)|\n||United States|Canada|Egypt-1|Australia|North Sea|Argentina|Total-1|\n| Proved developed reserves:||||||||\n|December 31, 2010|422,737|90,292|109,657|48,072|115,705|16,583|803,046|\n|December 31, 2011|428,251|81,846|105,840|35,725|136,990|16,001|804,653|\n|December 31, 2012|474,837|79,695|106,746|29,053|119,635|15,845|825,811|\n|December 31, 2013|457,981|80,526|119,242|22,524|100,327|14,195|794,795|\n| Proved undeveloped reserves:||||||||\n|December 31, 2010|214,117|56,855|17,470|18,064|38,663|4,062|349,231|\n|December 31, 2011|205,763|59,746|22,195|32,220|32,415|4,585|356,924|\n|December 31, 2012|203,068|70,650|17,288|34,808|28,019|2,981|356,814|\n|December 31, 2013|195,835|56,366|16,302|36,703|29,253|2,231|336,690|\n| Total proved reserves:||||||||\n|Balance December 31, 2010|636,855|147,146|127,127|66,136|154,368|20,645|1,152,277|\n|Extensions, discoveries and other additions|45,676|16,712|45,021|15,762|332|3,230|126,733|\n|Purchase of minerals in-place|5,097|705|\u2014|\u2014|34,612|\u2014|40,414|\n|Revisions of previous estimates|-8,904|-17,117|-6,185|\u2014|\u2014|215|-31,991|\n|Production|-43,587|-5,202|-37,928|-13,953|-19,907|-3,503|-124,080|\n|Sale of properties|-1,123|-653|\u2014|\u2014|\u2014|\u2014|-1,776|\n|Balance December 31, 2011|634,014|141,591|128,035|67,945|169,405|20,587|1,161,577|\n|Extensions, discoveries and other additions|84,656|18,935|36,188|6,277|346|1,133|147,535|\n|Purchase of minerals in-place|15,942|188|\u2014|276|2,143|\u2014|18,549|\n|Revisions of previous estimates|-7,474|-4,577|-3,678|-66|-928|671|-16,052|\n|Production|-49,089|-5,792|-36,511|-10,571|-23,312|-3,565|-128,840|\n|Sale of properties|-144|\u2014|\u2014|\u2014|\u2014|\u2014|-144|\n|Balance December 31, 2012|677,905|150,345|124,034|63,861|147,654|18,826|1,182,625|\n|Extensions, discoveries and other additions|133,227|10,177|43,738|2,539|1,543|998|192,222|\n|Purchase of minerals in-place|85|\u2014|5|\u2014|3,623|\u2014|3,713|\n|Revisions of previous estimates|1,683|-531|457|-118|18|24|1,533|\n|Production|-53,621|-6,469|-32,690|-7,055|-23,258|-3,422|-126,515|\n|Sale of properties|-105,463|-16,630|\u2014|\u2014|\u2014|\u2014|-122,093|\n|Balance December 31, 2013|653,816|136,892|135,544|59,227|129,580|16,426|1,131,485|\n", + "(1) 2013 includes proved reserves of 45 MMbbls as of December 31, 2013 attributable to a noncontrolling interest in Egypt.", + "until the hedged transaction is recognized in earnings.", + "Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.", + "The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2012 and 2011 was $1.3 billion and $1.7 billion.", + "The aggregate notional amount of our outstanding interest rate swaps at December 31, 2012 and 2011 was $503 million and $450 million.", + "Derivative instruments did not have a material impact on net earnings and comprehensive income during 2012, 2011, and 2010.", + "Substantially all of our derivatives are designated for hedge accounting.", + "See Note 15 for more information on the fair value measurements related to our derivative instruments.", + "Stock-based compensation \u2013 Compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award.", + "We generally recognize the compensation cost ratably over a three-year vesting period.", + "Income taxes \u2013 We periodically assess our tax filing exposures related to periods that are open to examination.", + "Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS).", + "If we cannot reach a more-likely-than-not determination, no benefit is recorded.", + "If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled.", + "We record interest and penalties related to income taxes as a component of income tax expense on our Statements of Earnings.", + "Interest and penalties are not material.", + "Accumulated other comprehensive loss \u2013 Changes in the balance of accumulated other comprehensive loss, net of income taxes, consisted of the following (in millions):" + ], + "question_id": "simplong-test-84", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in fuel surcharge program freight revenue from 2012 to 2013?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table presents net revenues by geographic region for the Company\u2019s International segment for 2013, 2012 and 2011.", + "|| 2013|% Change| 2012|% Change| 2011|\n|Europe|$1,190,350|3%|1,154,310|-8%|1,254,427|\n|Latin America|407,710|12%|362,689|8%|334,887|\n|Asia Pacific|274,920|4%|265,120|-3%|272,587|\n|Net revenues|$1,872,980||1,782,119||1,861,901|\n", + "In 2013, a positive impact from currency translation of approximately $27,400 for Europe was partially offset by a negative impact from currency translation of approximately $14,400 and $6,000 for the Latin America and Asia Pacific regions, respectively.", + "Absent the impact of foreign exchange, 2013 net revenues grew 1%, 16% and 6% for Europe, Latin America and Asia Pacific, respectively, compared to 2012.", + "Growth in International segment net revenues in 2013 was primarily driven by growth in emerging markets, including Russia, Brazil and China.", + "Net revenues in emerging markets increased 25% in 2013 compared to 2012, and were partially offset by lower net revenues in certain developed markets including Australia, France and the United Kingdom.", + "In 2012, a negative impact from currency translation of $79,100 and $20,000 for Europe and Latin America, respectively, in addition to challenging economic environments in certain developed economies contributed to the overall decline in net revenues for the segment.", + "Currency translation did not have a material impact on net revenues for the Asia Pacific region in 2012.", + "In 2012, net revenues in Latin America increased 14% and net revenues in Europe decreased 2% compared to 2011, absent the impact of foreign exchange.", + "Net revenues in emerging international markets, including Brazil, Russia and Colombia, increased 16% in 2012 compared to 2011.", + "By product category, growth in the games, girls\u2019 and preschool categories in 2013 was partially offset by lower net revenues in the boys\u2019 category.", + "In 2012, the decrease in net revenues was predominantly the result of lower net revenues from boys\u2019 products and marginally lower net revenues from games and girls products while net revenues from preschool products were flat for the year.", + "In the boys\u2019 category, lower sales of BEYBLADE, MARVEL, STAR WARS and KRE-O products in 2013 were partially offset by higher net revenues from TRANSFROMERS and NERF products.", + "In 2012, higher net revenues from MARVEL, particularly entertainment-based products related to THE AVENGERS and SPIDER\u0002MAN, and STAR WARS products in 2012 compared to 2011 were more than offset by lower net revenues from BEYBLADE and TRANSFORMERS products.", + "In the games category, higher net revenues from MAGIC: THE GATHERING, JENGA, TWISTER, ELEFUN & FRIENDS and action battling gaming products in 2013 compared to 2012 were partially offset by lower net revenues from other game brands.", + "In 2012, higher net revenues from boys\u2019 action gaming products, primarily related to STAR WARS and TRANSFORMERS brands, MAGIC: THE GATHERING, TWISTER and BATTLESHIP products in 2012 compared to 2011 were more than offset by decreased net revenues from other game brands.", + "The girls\u2019 category grew approximately 47% in 2013 compared to 2012 attributable to higher net revenues from MY LITTLE PONY products as well as the introduction of FURBY products in non-English speaking markets and NERF REBELLE products.", + "This growth was partially offset by lower net revenues from LITTLEST PET SHOP and FURREAL FRIENDS products.", + "In 2012, higher net revenues from MY LITTLE PONY compared to 2011 as well as the introduction of FURBY products were more than offset by lower net revenues from LITTLEST PET SHOP and FURREAL FRIENDS products.", + "FURBY products were introduced in English\u0002speaking markets in 2012 and globally in 2013.", + "In the preschool category, higher net revenues from PLAY-DOH and TRANSFORMERS products in 2013 were partially offset by lower net revenues from TONKA and SESAME STREET products.", + "In 2012, net revenues in the preschool category were flat compared to 2011.", + "Increased net revenues from PLAYSKOOL", + "Year Ended December 31", + "|||Year Ended December 31|\n|||2018|2017|2016|2015|2014|\n|||(Dollars in millions, except per share data)|\n|INCOME\u2014CONSOLIDATED|||||||\n|Net income (GAAP)||$1,759|$1,263|$1,163|$1,062|$1,147|\n|Preferred dividends (GAAP)||-64|-64|-64|-64|-52|\n|Net income available to common shareholders (GAAP)|A|$1,695|$1,199|$1,099|$998|$1,095|\n|Income (loss) from discontinued operations, net of tax||191|22|9|-9|16|\n|Net income from continuing operations available to common shareholders (GAAP)|B|$1,504|$1,177|$1,090|$1,007|$1,079|\n|ADJUSTED EFFICIENCY AND FEE INCOME RATIOS\u2014CONTINUING OPERATIONS|||||||\n|Non-interest expense (GAAP)|C|$3,570|$3,491|$3,483|$3,478|$3,318|\n|Adjustments:|||||||\n|Contribution to Regions Financial Corporation foundation||-60|-40|\u2014|\u2014|\u2014|\n|Professional, legal and regulatory expenses-2(3)||\u2014|\u2014|-3|-48|-93|\n|Branch consolidation, property and equipment charges||-11|-22|-58|-56|-16|\n|Expenses associated with residential mortgage loan sale||-4|\u2014|\u2014|\u2014|\u2014|\n|Gain on sale of TDRs held for sale, net||\u2014|\u2014|\u2014|\u2014|35|\n|Loss on early extinguishment of debt||\u2014|\u2014|-14|-43|\u2014|\n|Salary and employee benefits\u2014severance charges||-61|-10|-21|-6|\u2014|\n|Adjusted non-interest expense (non-GAAP)|D|$3,434|$3,419|$3,387|$3,325|$3,244|\n|Net interest income and other financing income (GAAP)|E|$3,735|$3,539|$3,398|$3,305|$3,279|\n|Reduction in leveraged lease interest income resulting from tax reform||\u2014|6|\u2014|\u2014|\u2014|\n|Adjusted net interest income and other financing income (non-GAAP)|F|$3,735|$3,545|$3,398|$3,305|$3,279|\n|Net interest income and other financing income (GAAP)||$3,735|$3,539|$3,398|$3,305|$3,279|\n|Taxable-equivalent adjustment||51|90|84|75|63|\n|Net interest income and other financing income, taxable-equivalent basis - continuing operations|G|3,786|3,629|3,482|3,380|3,342|\n|Reduction in leveraged lease interest income resulting from Tax Reform||\u2014|6|\u2014|\u2014|\u2014|\n|Adjusted net interest income and other financing income, taxable equivalent basis (non-GAAP)|H|$3,786|$3,635|$3,482|$3,380|$3,342|\n|Net interest margin (GAAP)(4)||3.50%|3.32%|3.14%|3.13%|3.21%|\n|Reduction in leveraged lease interest income resulting from Tax Reform||\u2014|0.01|\u2014|\u2014|\u2014|\n|Adjusted net interest margin (non-GAAP)||3.50%|3.33%|3.14%|3.13%|3.21%|\n|Non-interest income (GAAP)|I|2,019|1,962|2,011|1,937|1,785|\n|Adjustments:|||||||\n|Securities (gains) losses, net||-1|-19|-6|-29|-27|\n|Insurance proceeds-5||\u2014|\u2014|-50|-91|\u2014|\n|Leveraged lease termination gains||-8|-1|-8|-8|-10|\n|Gain on sale of affordable housing residential mortgage loans-6||\u2014|-5|-5|\u2014|\u2014|\n|Adjusted non-interest income (non-GAAP)|J|2,010|1,937|1,942|1,809|1,748|\n|Total revenue|E+I=K|$5,754|$5,501|$5,409|$5,242|$5,064|\n|Adjusted total revenue (non-GAAP)|F+J=L|$5,745|$5,482|$5,340|$5,114|$5,027|\n|Total revenue, taxable-equivalent basis|G+I=M|$5,805|$5,591|$5,493|$5,317|$5,127|\n|Adjusted total revenue, taxable-equivalent basis (non-GAAP)|H+J=N|$5,796|$5,572|$5,424|$5,189|$5,090|\n|Efficiency ratio (GAAP)|C/M|61.50%|62.44%|63.42%|65.42%|64.72%|\n|Adjusted efficiency ratio (non-GAAP)|D/N|59.26%|61.35%|62.46%|64.08%|63.72%|\n|Fee income ratio (GAAP)|I/M|34.78%|35.09%|36.62%|36.42%|34.82%|\n|Adjusted fee income ratio (non-GAAP)|J/N|34.68%|34.80%|35.82%|34.87%|34.34%|\n", + "RESULTS OF OPERATIONS Operating Revenues", + "|Millions|2014|2013|2012|% Change 2014 v 2013|% Change 2013 v 2012|\n|Freight revenues|$22,560|$20,684|$19,686|9%|5%|\n|Other revenues|1,428|1,279|1,240|12%|3%|\n|Total|$23,988|$21,963|$20,926|9%|5%|\n", + "We generate freight revenues by transporting freight or other materials from our six commodity groups.", + "Freight revenues vary with volume (carloads) and average revenue per car (ARC).", + "Changes in price, traffic mix and fuel surcharges drive ARC.", + "We provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations, which we record as reductions to freight revenues based on the actual or projected future shipments.", + "We recognize freight revenues as shipments move from origin to destination.", + "We allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them.", + "Other revenues include revenues earned by our subsidiaries, revenues from our commuter rail operations, and accessorial revenues, which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage.", + "We recognize other revenues as we perform services or meet contractual obligations.", + "Freight revenues from all six commodity groups increased during 2014 compared to 2013 driven by 7% volume growth and core pricing gains of 2.5%.", + "Volume growth from grain, frac sand, rock, and intermodal (domestic and international) shipments offset declines in crude oil.", + "Freight revenues from five of our six commodity groups increased during 2013 compared to 2012.", + "Revenue from Agricultural Products was down slightly compared to 2012.", + "ARC increased 5%, driven by core pricing gains, shifts in business mix and an automotive logistics management arrangement.", + "Volume essentially was flat year over year as growth in automotive, frac sand, crude oil and domestic intermodal offset declines in coal, international intermodal and grain shipments.", + "Our fuel surcharge programs generated freight revenues of $2.8 billion, $2.6 billion, and $2.6 billion in 2014, 2013, and 2012, respectively.", + "Fuel surcharge in 2014 increased 6% driven by our 7% carloadings increase.", + "Fuel surcharge in 2013 essentially was flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs (surcharges trail fluctuations in fuel price by approximately two months).", + "In 2014, other revenue increased from 2013 due to higher revenues at our subsidiaries, primarily those that broker intermodal and automotive services, accessorial revenue driven by increased volume and per diem revenue for container usage (previously included in automotive freight revenue).", + "In 2013, other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services." + ], + "question_id": "simplong-test-85", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Bermuda of At December 31, 2017 IBNR Reserves, and Bermuda of At December 31, 2016 IBNR Reserves ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 1A.", + "RISK FACTORS In addition to the other information provided in this report, the following risk factors should be considered when evaluating an investment in our securities.", + "If the circumstances contemplated by the individual risk factors materialize, our business, financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly.", + "RISKS RELATING TO OUR BUSINESS Fluctuations in the financial markets could result in investment losses.", + "Prolonged and severe disruptions in the overall public debt and equity markets, such as occurred during 2008, could result in significant realized and unrealized losses in our investment portfolio.", + "Although financial markets have significantly improved since 2008, they could deteriorate in the future.", + "There could also be disruption in individual market sectors, such as occurred in the energy sector in recent years.", + "Such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations, equity, business and insurer financial strength and debt ratings.", + "Our results could be adversely affected by catastrophic events.", + "We are exposed to unpredictable catastrophic events, including weather-related and other natural catastrophes, as well as acts of terrorism.", + "Any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations.", + "By way of illustration, during the past five calendar years, pre-tax catastrophe losses, net of reinsurance, were as follows:", + "|Calendar year:|Pre-tax catastrophe losses|\n|(Dollars in millions)||\n|2017|$1,472.6|\n|2016|301.2|\n|2015|53.8|\n|2014|56.3|\n|2013|194.0|\n", + "Our losses from future catastrophic events could exceed our projections.", + "We use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool.", + "We use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area.", + "These loss projections are approximations, reliant on a mix of quantitative and qualitative processes, and actual losses may exceed the projections by a material amount, resulting in a material adverse effect on our financial condition and results of operations.", + "Gross written premiums decreased by 7.8% to $1,230.7 million in 2016 compared to $1,334.2 million in 2015, primarily due to declines in Latin American, Middle East and Asian business and the negative impact of $40.7 million from the movement of foreign exchange rates.", + "Net written premiums decreased by 10.4% to $1,082.7 million in 2016 compared to $1,209.0 million in 2015.", + "The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance related to the quota share contracts.", + "Premiums earned decreased 10.6% to $1,119.1 million in 2016 compared to $1,251.1 million in 2015.", + "The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the International segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2017||||||||||\n|Attritional|$605.3|50.4%||$0.2|0.0%||$605.6|50.4%||\n|Catastrophes|456.3|38.0%||-2.3|-0.2%||454.0|37.8%||\n|Total segment|$1,061.6|88.4%||$-2.1|-0.2%||$1,059.6|88.2%||\n|2016||||||||||\n|Attritional|$576.2|51.5%||$-224.8|-20.1%||$351.4|31.4%||\n|Catastrophes|178.8|16.0%||-43.7|-3.9%||135.2|12.1%||\n|Total segment|$755.0|67.5%||$-268.5|-24.0%||$486.6|43.5%||\n|2015||||||||||\n|Attritional|$721.3|57.7%||$-31.4|-2.5%||$689.9|55.2%||\n|Catastrophes|70.5|5.6%||-10.5|-0.8%||60.0|4.8%||\n|Total segment|$791.8|63.3%||$-41.9|-3.3%||$749.9|60.0%||\n|Variance 2017/2016||||||||||\n|Attritional|$29.1|-1.1|pts|$225.0|20.1|pts|$254.2|19.0|pts|\n|Catastrophes|277.5|22.0|pts|41.4|3.7|pts|318.8|25.7|pts|\n|Total segment|$306.6|20.9|pts|$266.4|23.8|pts|$573.1|44.7|pts|\n|Variance 2016/2015||||||||||\n|Attritional|$-145.1|-6.2|pts|$-193.4|-17.6|pts|$-338.5|-23.8|pts|\n|Catastrophes|108.3|10.4|pts|-33.2|-3.1|pts|75.2|7.3|pts|\n|Total segment|$-36.8|4.2|pts|$-226.6|-20.7|pts|$-263.3|-16.5|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 117.8% to $1,059.6 million in 2017 compared to $486.6 million in 2016, primarily due to an increase of $277.5 million in current year catastrophe losses, favorable development of $224.8 million on prior years attritional losses in 2016 mainly related to property business which did not recur in 2017 and favorable development of $43.7 million on prior years catastrophe losses in 2016 which did not recur in 2017.", + "The $456.3 million of current year catastrophe losses in 2017 related to Hurricane Maria ($263.2 million), Hurricane Irma ($107.6 million), the Mexico City earthquake ($25.6 million), the South Africa Knysna fires ($24.0 million), Cyclone Debbie in Australia ($17.1 million), the Peru storms ($15.2 million) and Hurricane Harvey ($3.7 million).", + "The $178.8 million of current year catastrophe losses in 2016 were due to the Fort McMurray Canada wildfire ($97.5 million), Hurricane Matthew ($27.4 million), the Ecuador earthquake ($23.6 million), the 2016 Taiwan earthquake ($15.2 million) and the New Zealand earthquake ($14.0 million).", + "Incurred losses and LAE decreased by 35.1% to $486.6 million in 2016 compared to $749.9 million in 2015, primarily due to more favorable development on prior year attritional losses of $193.4 million, a decrease in current year attritional losses of $145.1 million, mainly due to lower Canadian, Latin American, Middle Eastern and African losses in 2016 and the impact of the decrease in premiums earned, as well as more favorable development of prior year catastrophe losses of $33.2 million, partially offset by an increase of $108.3 million in current year catastrophe losses.", + "The $224.8 million of favorable development on prior years attritional losses was mainly related to property business.", + "The $178.8 million of current year catastrophe losses in 2016 are outlined above.", + "The $70.5 million of current year catastrophe losses in 2015 were due to the Chilean earthquake ($34.8 million), Northern Chile storms ($19.5 million) and the", + "Loss and LAE Reserves.", + "Gross loss and LAE reserves totaled $11,884.3 million and $10,312.3 million at December 31, 2017 and 2016, respectively.", + "The following tables summarize gross outstanding loss and LAE reserves by segment, classified by case reserves and IBNR reserves, for the periods indicated.", + "||At December 31, 2017|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,719.6|$2,041.0|$3,760.6|31.6%|\n|International|1,147.6|1,022.9|2,170.5|18.3%|\n|Bermuda|1,037.8|1,417.0|2,454.8|20.7%|\n|Insurance|1,049.4|2,000.0|3,049.4|25.7%|\n|Total excluding A&E|4,954.3|6,481.0|11,435.3|96.2%|\n|A&E|306.0|143.0|449.0|3.8%|\n|Total including A&E|$5,260.4|$6,623.9|$11,884.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "At December 31, 2016", + "||At December 31, 2016|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,316.3|$2,033.9|$3,350.3|32.5%|\n|International|893.5|850.3|1,743.8|16.9%|\n|Bermuda|770.0|1,189.0|1,959.1|19.0%|\n|Insurance|1,018.5|1,799.5|2,818.1|27.3%|\n|Total excluding A&E|3,998.4|5,872.8|9,871.2|95.7%|\n|A&E|293.5|147.6|441.1|4.3%|\n|Total including A&E|$4,291.9|$6,020.4|$10,312.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "Changes in premiums earned and business mix, reserve re-estimations, catastrophe losses and changes in catastrophe loss reserves and claim settlement activity all impact loss and LAE reserves by segment and in total.", + "Our loss and LAE reserves represent management\u2019s best estimate of our ultimate liability for unpaid claims.", + "We continuously re-evaluate our reserves, including re-estimates of prior period reserves, taking into consideration all available information and, in particular, newly reported loss and claim experience.", + "Changes in reserves resulting from such re-evaluations are reflected in incurred losses in the period when the re\u0002evaluation is made.", + "Our analytical methods and processes operate at multiple levels including individual contracts, groupings of like contracts, classes and lines of business, internal business units, segments, legal entities, and in the aggregate.", + "In order to set appropriate reserves, we make qualitative and quantitative analyses and judgments at these various levels.", + "Additionally, the attribution of reserves, changes in reserves and incurred losses among accident years requires qualitative and quantitative adjustments and allocations at these various levels.", + "We utilize actuarial science, business expertise and management judgment in a manner intended to ensure the accuracy and consistency of our reserving practices.", + "Nevertheless, our reserves are estimates, which are subject to variation, which may be significant.", + "There can be no assurance that reserves for, and losses from, claim obligations will not increase in the future, possibly by a material amount.", + "However, we believe that our existing reserves and reserving methodologies lessen the probability that any such increase would have a material adverse effect on our financial condition, results of operations or cash flows.", + "We have included ranges for loss reserve estimates determined by our actuaries, which have been developed through a combination of objective and subjective criteria.", + "Our presentation of this information may not be directly comparable to similar presentations of other companies as there are no consistently applied actuarial or accounting standards governing such presentations.", + "Our recorded reserves are an aggregation of our best point estimates for approximately 200 reserve groups and reflect our best point estimate of our liabilities.", + "Our actuarial methodologies develop point estimates rather than ranges and the ranges are developed subsequently based upon historical and prospective variability measures." + ], + "question_id": "simplong-test-86", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the yearly interest income generated by the collateralized credit facility provided to the real estate company for the execution of its property acquisitions program , in million cad?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Kimco Realty Corporation and Subsidiaries", + "||2006|2005|\n|Remaining net rentals|$62.3|$68.9|\n|Estimated unguaranteed residual value|40.5|43.8|\n|Non-recourse mortgage debt|-48.4|-52.8|\n|Unearned and deferred income|-50.7|-55.9|\n|Net investment in leveraged lease|$3.7|$4.0|\n", + "9.", + "Mortgages and Other Financing Receivables: During January 2006, the Company provided approximately $16.0 million as its share of a $50.0 million junior participation in a $700.0 million first mortgage loan, in connection with a private investment firm\u2019s acquisition of a retailer.", + "This loan participation bore interest at LIBOR plus 7.75% per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer.", + "During June 2006, the borrower elected to pre-pay the outstanding loan balance of approximately $16.0 million in full satisfaction of this loan.", + "Additionally, during January 2006, the Company provided approximately $5.2 million as its share of an $11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in San Antonio, TX.", + "This loan is interest only at a fixed rate of 11.0% for a term of two years payable monthly and collateralized by a first mortgage on the subject property.", + "As of December 31, 2006, the outstanding balance on this loan was approximately $5.2 million.", + "During February 2006, the Company committed to provide a one year $17.2 million credit facility at a fixed rate of 8.0% for a term of nine months and 9.0% for the remaining term to a real estate investor for the recapitalization of a discount and entertain\u0002ment mall that it currently owns.", + "During 2006, this facility was fully paid and was terminated.", + "During April 2006, the Company provided two separate mortgages aggregating $14.5 million on a property owned by a real estate investor.", + "Proceeds were used to payoff the existing first mortgage, buyout the existing partner and for redevelopment of the property.", + "The mortgages bear interest at 8.0% per annum and mature in 2008 and 2013.", + "These mortgages are collateralized by the subject property.", + "As of December 31, 2006, the aggregate outstanding balance on these mortgages was approximately $15.0 million, including $0.5 million of accrued interest.", + "During May 2006, the Company provided a CAD $23.5 million collateralized credit facility at a fixed rate of 8.5% per annum for a term of two years to a real estate company for the execution of its property acquisitions program.", + "The credit facility is guaranteed by the real estate company.", + "The Company was issued 9,811 units, valued at approximately USD $0.1 million, and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee.", + "During August 2006, the Company increased the credit facility to CAD $45.0 million and received an additional 9,811 units, valued at approximately USD $0.1 million, and warrants to purchase up to 0.1 million shares of the real estate company.", + "As of December 31, 2006, the outstand\u0002ing balance on this credit facility was approximately CAD $3.6 million (approximately USD $3.1 million).", + "During September 2005, a newly formed joint venture, in which the Company had an 80% interest, acquired a 90% interest in a $48.4 million mortgage receivable for a purchase price of approximately $34.2 million.", + "This loan bore interest at a rate of three-month LIBOR plus 2.75% per annum and was scheduled to mature on January 12, 2010.", + "A 626-room hotel located in Lake Buena Vista, FL collateralized the loan.", + "The Company had determined that this joint venture entity was a VIE and had further determined that the Company was the primary benefici\u0002ary of this VIE and had therefore consolidated it for financial reporting purposes.", + "During March 2006, the joint venture acquired the remaining 10% of this mortgage receivable for a purchase price of approximately $3.8 million.", + "During June 2006, the joint venture accepted a pre-payment of approximately $45.2 million from the borrower as full satisfaction of this loan.", + "During August 2006, the Company provided $8.8 million as its share of a $13.2 million 12-month term loan to a retailer for general corporate purposes.", + "This loan bears interest at a fixed rate of 12.50% with interest payable monthly and a balloon payment for the principal balance at maturity.", + "The loan is collateralized by the underlying real estate of the retailer.", + "Additionally, the Company funded $13.3 million as its share of a $20.0 million revolving Debtor-in-Possession facility to this retailer.", + "The facility bears interest at LIBOR plus 3.00% and has an unused line fee of 0.375%.", + "This credit facility is collateralized by a first priority lien on all the retailer\u2019s assets.", + "As of December 31, 2006, the Compa\u0002ny\u2019s share of the outstanding balance on this loan and credit facility was approximately $7.6 million and $4.9 million, respec\u0002tively.", + "During September 2006, the Company provided a MXP 57.3 million (approximately USD $5.3 million) loan to an owner of an operating property in Mexico.", + "The loan, which is collateralized by the property, bears interest at 12.0% per annum and matures in 2016.", + "The Company is entitled to a participation feature of 25% of annual cash flows after debt service and 20% of the gain on sale of the property.", + "As of December 31, 2006, the outstand\u0002ing balance on this loan was approximately MXP 57.8 million (approximately USD $5.3 million).", + "During November 2006, the Company committed to provide a MXP 124.8 million (approximately USD $11.5 million) loan to an owner of a land parcel in Acapulco, Mexico.", + "The loan, which is collateralized with an operating property owned by the bor\u0002rower, bears interest at 10% per annum and matures in 2016.", + "The Company is entitled to a participation feature of 20% of excess cash flows and gains on sale of the property.", + "As of Decem\u0002ber 31, 2006, the outstanding balance on this loan was MXP 12.8 million (approximately USD $1.2 million).", + "Table of Contents requiring more management judgment to estimate the appropriate fair value measurement.", + "Accordingly, the degree of judgment exercised by management in determining fair value is greater for financial assets and liabilities categorized as Level 3.", + "Our valuation processes include a number of key controls that are designed to ensure that fair value is measured appropriately.", + "The following table summarizes our financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2011 and 2010:", + "|| December 31,|\n||2011| 2010|\n| (Dollars in thousands)|Total Balance|Level 3|Total Balance| Level 3|\n|Assets carried at fair value|$11,372,081|$799,962|$8,546,528|$547,608|\n|As a percentage of total assets|56.9%|4.0%|48.8%|3.1%|\n|Liabilities carried at fair value|$16,868|$\u2014|$10,267|$\u2014|\n|As a percentage of total liabilities|0.1%|\u2014%|0.1%|\u2014%|\n||Level 1 and 2|Level 3|Level 1 and 2|Level 3|\n|Percentage of assets measured at fair value|93.0%|7.0%|93.6%|6.4%|\n", + "As of December 31, 2011, our available-for-sale securities portfolio, consisting of agency-issued mortgage-backed securities, agency-issued collateralized mortgage obligations, U. S. agency debentures, U. S. treasury securities and municipal bonds and notes, represented $10.5 billion, or 92.6 percent of our portfolio of assets measured at fair value on a recurring basis, compared to $7.9 billion, or 92.6 percent, as of December 31, 2010.", + "These instruments were classified as Level 2 because their valuations were based on indicative prices corroborated by observable market quotes or valuation techniques with all significant inputs derived from or corroborated by observable market data.", + "The fair value of our available-for-sale securities portfolio is sensitive to changes in levels of market interest rates and market perceptions of credit quality of the underlying securities.", + "Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis.", + "Assets valued using Level 2 measurements also include equity warrant assets in shares of public company capital stock, marketable securities, interest rate swaps, foreign exchange forward and option contracts, loan conversion options and client interest rate derivatives.", + "To the extent available-for-sale securities are used to secure borrowings, changes in the fair value of those securities could have an impact on the total amount of secured financing available.", + "We pledge securities to the Federal Home Loan Bank of San Francisco and the discount window at the Federal Reserve Bank.", + "The market value of collateral pledged to the Federal Home Loan Bank of San Francisco (comprised entirely of U. S. agency debentures) at December 31, 2011 totaled $1.5 billion, all of which was unused and available to support additional borrowings.", + "The market value of collateral pledged at the discount window of the Federal Reserve Bank in accordance with our liquidity risk management practices at December 31, 2011 totaled $100.5 million, all of which was unused and available to support additional borrowings.", + "We have repurchase agreements in place with multiple securities dealers, which allow us to access short-term borrowings by using available-for-sale securities as collateral.", + "At December 31, 2011, we had not utilized any of our repurchase lines to secure borrowed funds.", + "Financial assets valued using Level 3 measurements consist primarily of our investments in venture capital and private equity funds and direct equity investments in privately held companies.", + "Our managed funds and debt fund that hold these investments qualify as investment companies under the American Institute of Certified Public Accountants (\u201cAICPA\u201d) Audit and Accounting Guide for Investment Companies and accordingly, these funds report their investments at estimated fair value, with unrealized gains and losses resulting from changes in fair value reflected as investment gains or losses in our consolidated statements of income.", + "Assets valued using Level 3 measurements also include equity warrant assets in shares of private company capital stock.", + "Table of Contents Average Balances, Yields and Rates Paid (Fully Taxable Equivalent Basis) The average yield earned on interest-earning assets is the amount of annualized fully taxable equivalent interest income expressed as a percentage of average interest-earning assets.", + "The average rate paid on funding sources is the amount of annualized interest expense expressed as a percentage of average funding sources.", + "The following tables set forth average assets, liabilities, noncontrolling interests and SVBFG stockholders\u2019 equity, interest income, interest expense, annualized yields and rates, and the composition of our annualized net interest margin in 2011, 2010 and 2009.", + "|| Year ended December 31,|\n||2011|2010| 2009|\n| (Dollars in thousands)|Average Balance|Interest Income/ Expense|Yield/ Rate|Average Balance|Interest Income/ Expense|Yield/ Rate|Average Balance|Interest Income/ Expense| Yield/ Rate|\n|Interest-earning assets:||||||||||\n|Federal Reserve deposits, federal funds sold, securities purchased under agreements to resell and other short-term investment securities-1|$1,974,001|$6,486|0.33%|$3,869,781|$10,960|0.28%|$3,333,182|$9,790|0.29%|\n|Available-for-sale securities: -2||||||||||\n|Taxable|9,256,688|165,449|1.79|5,249,884|127,422|2.43|2,179,181|81,536|3.74|\n|Non-taxable -3|93,693|5,574|5.95|97,443|5,860|6.01|103,150|6,298|6.11|\n|Total loans, net of unearned income -4|5,815,071|389,830|6.70|4,435,911|319,540|7.20|4,699,696|335,806|7.15|\n|Total interest-earning assets|17,139,453|567,339|3.31|13,653,019|463,782|3.40|10,315,209|433,430|4.20|\n|Cash and due from banks|283,596|||232,058|||238,911|||\n|Allowance for loan losses|-88,104|||-77,999|||-107,512|||\n|Goodwill|\u2014|||\u2014|||1,000|||\n|Other assets -5|1,335,554|||1,051,158|||878,733|||\n|Total assets|$18,670,499|||$14,858,236|||$11,326,341|||\n|Funding sources:||||||||||\n|Interest-bearing liabilities:||||||||||\n|NOW deposits|$87,099|$270|0.31%|$51,423|$208|0.40%|$42,022|$160|0.38%|\n|Money market deposits|2,508,279|5,131|0.20|1,818,113|5,308|0.29|1,183,848|6,152|0.52|\n|Money market deposits in foreign offices|130,693|294|0.22|83,253|272|0.33|62,440|416|0.67|\n|Time deposits|258,810|1,102|0.43|361,921|1,786|0.49|355,602|2,445|0.69|\n|Sweep deposits in foreign offices|2,346,076|2,065|0.09|2,496,649|7,204|0.29|1,860,899|12,173|0.65|\n|Total interest-bearing deposits|5,330,957|8,862|0.17|4,811,359|14,778|0.31|3,504,811|21,346|0.61|\n|Short-term borrowings|16,994|25|0.15|49,972|92|0.18|46,133|72|0.16|\n|5.375% Senior Notes|347,689|19,244|5.53|98,081|5,345|5.45|\u2014|\u2014|\u2014|\n|3.875% Convertible Notes|71,108|4,210|5.92|248,056|14,147|5.70|245,756|14,043|5.71|\n|Junior Subordinated Debentures|55,467|3,325|5.99|55,706|3,061|5.49|55,948|3,465|6.19|\n|5.70% Senior Note and 6.05% Subordinated Notes|317,855|3,151|0.99|559,915|5,895|1.05|560,398|9,166|1.64|\n|Other long-term debt|4,704|294|6.25|6,620|278|4.20|61,752|984|1.59|\n|Total interest-bearing liabilities|6,144,774|39,111|0.64|5,829,709|43,596|0.75|4,474,798|49,076|1.10|\n|Portion of noninterest-bearing funding sources|10,994,679|||7,823,310|||5,840,411|||\n|Total funding sources|17,139,453|39,111|0.23|13,653,019|43,596|0.32|10,315,209|49,076|0.47|\n|Noninterest-bearing funding sources:||||||||||\n|Demand deposits|10,237,844|||7,216,968|||5,289,288|||\n|Other liabilities|268,721|||189,475|||179,795|||\n|SVBFG stockholders\u2019 equity|1,448,398|||1,230,569|||1,063,175|||\n|Noncontrolling interests|570,762|||391,515|||319,285|||\n|Portion used to fund interest-earning assets|-10,994,679|||-7,823,310|||-5,840,411|||\n|Total liabilities, noncontrolling interest, and SVBFG stockholders\u2019 equity stockholders\u2019 equity|$18,670,499|||$14,858,236|||$11,326,341|||\n|Net interest income and margin||$528,228|3.08%||$420,186|3.08%||$384,354|3.73%|\n|Total deposits|$15,568,801|||$12,028,327|||$8,794,099|||\n|Reconciliation to reported net interest income:||||||||||\n|Adjustment for tax-equivalent basis||-1,951|||-2,051|||-2,204||\n|Net interest income, as reported||$526,277|||$418,135|||$382,150||\n", + "(1) Includes average interest-earning deposits in other financial institutions of $324.2 million, $217.4 million and $176.5 million in 2011, 2010 and 2009, respectively.", + "For 2011, 2010 and 2009, balances also include $1.4 billion, $3.5 billion and $3.1 billion, respectively, deposited at the Federal Reserve Bank, earning interest at the Federal Funds target rate." + ], + "question_id": "simplong-test-87", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Premiums in 2012 and Negotiated amount in 2011? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Continued Domestic Retirement Services Results Domestic Retirement Services results, presented on a sub-product basis for 2007, 2006 and 2005 were as follows:", + "|(in millions)|Premiums and Other Considerations|Net Investment Income|Net Realized Capital Gains (Losses)|Total Revenues|Operating Income|\n| 2007||||||\n|Group retirement products|$446|$2,280|$-451|2,275|$696|\n|Individual fixed annuities|96|3,664|-829|2,931|530|\n|Individual variable annuities|627|166|-45|748|122|\n|Individual annuities \u2014 runoff*|21|387|-83|325|-1|\n|Total|$1,190|$6,497|$-1,408|$6,279|$1,347|\n|2006||||||\n|Group retirement products|$386|$2,279|$-144|$2,521|$1,017|\n|Individual fixed annuities|122|3,581|-257|3,446|1,036|\n|Individual variable annuities|531|202|5|738|193|\n|Individual annuities \u2014 runoff*|18|426|-8|436|77|\n|Total|$1,057|$6,488|$-404|$7,141|$2,323|\n|2005||||||\n|Group retirement products|$351|$2,233|$-67|$2,517|$1,055|\n|Individual fixed annuities|97|3,346|-214|3,229|858|\n|Individual variable annuities|467|217|4|688|189|\n|Individual annuities \u2014 runoff*|22|430|\u2014|452|62|\n|Total|$937|$6,226|$-277|$6,886|$2,164|\n| Percentage Increase/(Decrease) 2007 vs. 2006:||||||\n|Group retirement products|16%|\u2014%|\u2014%|-10%|-32%|\n|Individual fixed annuities|-21|2|\u2014|-15|-49|\n|Individual variable annuities|18|-18|\u2014|1|-37|\n|Individual annuities \u2014 runoff|17|-9|\u2014|-25|\u2014|\n|Total|13%|\u2014%|\u2014%|-12%|-42%|\n|Percentage Increase/(Decrease) 2006 vs. 2005:||||||\n|Group retirement products|10%|2%|\u2014%|\u2014%|-4%|\n|Individual fixed annuities|26|7|\u2014|7|21|\n|Individual variable annuities|14|-7|25|7|2|\n|Individual annuities \u2014 runoff|-18|-1|\u2014|-4|24|\n|Total|13%|4%|\u2014%|4%|7%|\n", + "* Primarily represents runoff annuity business sold through discontinued distribution relationships.2007 and 2006 Comparison Total revenues and operating income for Domestic Retirement Services declined in 2007 compared to 2006 primarily due to increased net realized capital losses.", + "Net realized capital losses for Domestic Retirement Services increased due to higher other- than-temporary impairmentcharges of$1.2 billion in 2007 compared to $368 million in 2006 and sales to reposition assets in certain investment portfolios for both group retirement products and individual ?xed annuities, as well as from changes in the value of certain individual variable annuity product guarantees and related hedges associated with living bene?t features.", + "Changes in actuarial estimates, including DAC unlockingsand re?nements to estimates resulting from actuarial valuation system enhance- ments, resulted in a net decrease to operating income of $112 million in 2007.", + "Group retirement products operating income in 2007 de- creased compared to 2006 primarily as a result of increased net realized capital losses due to higher other-than-temporary impair- mentcharges and an increase in DAC amortization related to both an increase in surrenders and to policy changes adding guaran- teed minimum withdrawal bene?t riders to existing contracts.", + "Operating income was also negatively affected in 2007 by an $18 million adjustment,primarily re?ecting changes in actuarial estimates from the conversion to a new valuation system.", + "These were partially offset by higher variable annuity fees which resulted from an increase in separate account assets compared to 2006.", + "Individual ?xed annuities operating income in 2007 decreased compared to 2006 as a result of net realized capital losses due to higher other-than-temporary impairmentcharges partially offset by increases in partnership income.", + "The decline in operating income also re?ected higher DAC amortization and sales induce-ment costs related to increased surrenders and a $33 million charge re?ecting changes in actuarial estimates from the conver-", + "American International Group, Inc. , and Subsidiaries Expected Loss Models \u2014 Under this mechanism, the amount of collateral to be posted is determined based on the amount of expected credit losses, generally determined using a rating-agency model.", + "Negotiated Amount \u2014 Under this mechanism, the amount of collateral to be posted is determined based on terms negotiated between AIGFP and the counterparty, which could be a fixed percentage of the notional amount or present value of premiums to be earned by AIGFP.", + "The following table presents the amount of collateral postings by underlying mechanism as described above with respect to the regulatory capital relief portfolio (prior to consideration of transactions other than the Capital Markets super senior credit default swaps subject to the same Master Agreements) as of the periods ended:", + "|(in millions)|December 31, 2009|December 31, 2010|February 16, 2011|\n|Reference to market indices|$60|$19|$10|\n|Expected loss models|20|-|-|\n|Negotiated amount|230|217|216|\n|Total|$310|$236|$226|\n", + "Arbitrage Portfolio \u2014 Multi-Sector CDOs In the CDS transactions with physical settlement provisions, in respect of multi-sector CDOs, the standard CSA provisions for the calculation of exposure have been modified, with the exposure amount determined pursuant to an agreed formula that is based on the difference between the net notional amount of such transaction and the market value of the relevant underlying CDO security, rather than the replacement value of the transaction.", + "As of any date, the \u2018\u2018market value\u2019\u2019 of the relevant CDO security is the price at which a marketplace participant would be willing to purchase such CDO security in a market transaction on such date, while the \u2018\u2018replacement value of the transaction\u2019\u2019 is the cost on such date of entering into a credit default swap transaction with substantially the same terms on the same referenced obligation (e. g. , the CDO security).", + "In cases where a formula is utilized, a transaction-specific threshold is generally factored into the calculation of exposure, which reduces the amount of collateral required to be posted.", + "These thresholds typically vary based on the credit ratings of AIG and/or the reference obligations, with greater posting obligations arising in the context of lower ratings.", + "For the large majority of counterparties to these transactions, the Master Agreement and CSA cover non-CDS transactions (e. g. , interest rate and cross currency swap transactions) as well as CDS transactions.", + "As a result, the amount of collateral to be posted by AIGFP in relation to the CDS transactions will be added to or offset by the amount, if any, of the exposure AIG has to the counterparty on the non-CDS transactions.", + "Arbitrage Portfolio \u2014 Corporate Debt/CLOs All of the Capital Markets corporate arbitrage-CLO transactions are subject to CSAs.", + "These transactions are treated the same as other transactions subject to the same Master Agreement and CSA, with the calculation of collateral in accordance with the standard CSA procedures outlined above.", + "The vast majority of corporate debt transactions are no longer subject to future collateral postings.", + "In exchange for an upfront payment to an intermediary counterparty, AIGFP has eliminated all future obligations to post collateral on corporate debt transactions that mature after 2011.", + "Collateral Calls AIGFP has received collateral calls from counterparties in respect of certain super senior credit default swaps, of which a large majority relate to multi-sector CDOs.", + "To a lesser extent, AIGFP has also received collateral calls in respect of certain super senior credit default swaps entered into by counterparties for regulatory capital relief purposes and in respect of corporate arbitrage.", + "From time to time, valuation methodologies used and estimates made by counterparties with respect to certain super senior credit default swaps or the underlying reference CDO securities, for purposes of determining the", + "ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES The following table presents a summary of AIG\u2019s Consolidated Statement of Cash Flows:", + "| Years Ended December 31, (in millions) |2012|2011|2010|\n|Summary:||||\n|Net cash provided by (used in) operating activities|$3,676|$-81|$16,597|\n|Net cash provided by (used in) investing activities|16,612|36,448|-9,912|\n|Net cash used in financing activities|-20,564|-36,926|-9,261|\n|Effect of exchange rate changes on cash|16|29|39|\n|Decrease in cash|-260|-530|-2,537|\n|Cash at beginning of year|1,474|1,558|4,400|\n|Change in cash of businesses held for sale|-63|446|-305|\n|Cash at end of year|$1,151|$1,474|$1,558|\n", + "Operating Cash Flow Activities Interest payments totaled $4.0 billion in 2012 compared to $9.0 billion in 2011.", + "Cash paid for interest in 2011 includes the payment of FRBNY Credit Facility accrued compounded interest totaling $6.4 billion.", + "Excluding interest payments, AIG generated positive operating cash flow of $7.7 billion and $8.9 billion in 2012 and 2011, respectively.", + "Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits.", + "The ability of insurance companies to generate positive cash flow is affected by the frequency and severity of losses under their insurance policies, policy retention rates and operating expenses.", + "Cash provided by AIG Property Casualty operating activities was $1.1 billion in 2012 compared to $1.9 billion in 2011, primarily reflecting the decrease in net premiums written as a result of the continued execution of strategic initiatives to improve business mix and the timing of the cash flows used to pay claims and claims adjustment expenses and the related reinsurance recoveries.", + "Cash provided by operating activities by AIG Life and Retirement was $2.9 billion in 2012 compared to $2.4 billion in 2011, primarily reflecting efforts to actively manage spread income.", + "Cash provided by operating activities of discontinued operations of $2.9 billion in 2012 compared to $6.2 billion in 2011, includes ILFC, and in 2011 and 2010, foreign life insurance subsidiaries that were divested in 2011, including Nan Shan, AIG Star and AIG Edison.", + "Net cash provided by operating activities declined in 2011 compared to 2010, principally due to the following: ?", + "the cash payment by AIG Parent of $6.4 billion in accrued compounded interest and fees under the FRBNY Credit Facility.", + "In prior periods, these payments were paid in-kind and did not affect operating cash flows; ?", + "cash provided by operating activities of foreign life subsidiaries declined by $10.4 billion due to the sale of those subsidiaries (AIA, ALICO, AIG Star, AIG Edison and Nan Shan).", + "The subsidiaries generated operational cash inflows of $3.4 billion and $13.8 billion in 2011 and 2010, respectively; and ?", + "the effect of catastrophes and the cession of a large portion of AIG Property Casualty\u2019s net asbestos liabilities in the U. S. to NICO.", + "Excluding the impact of the NICO cession and catastrophes, cash provided by AIG\u2019s reportable segments in 2011 is consistent with 2010, as increases in claims paid were offset by increases in premiums collected at the insurance subsidiaries.", + "Investing Cash Flow Activities Net cash provided by investing activities for 2012 includes the following items: ?", + "payments received relating to the sale of the underlying assets held by ML II of approximately $1.6 billion; ?", + "payments of approximately $8.5 billion received in connection with the dispositions of ML III assets by the FRBNY;", + "ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE low interest rate environment, partially offset by growth in average assets.", + "See MD&A \u2013 Investments \u2013 Life Insurance Companies for additional information on the investment strategy, asset-liability management process and invested assets of our Life Insurance Companies, which include the invested assets of the Institutional Markets business.", + "General operating expenses in 2014 increased slightly compared to 2013, primarily due to investments in technology.2013 and 2012 Comparison Pre-tax operating income for 2013 increased compared to 2012, due in part to higher net investment income from alternative investments, partially offset by lower base net investment income.", + "Interest credited to policyholder account balances in 2012 included $110 million of expense resulting from a comprehensive review of reserves for the GIC portfolio.", + "Results for 2013 included a full year of the growing stable value wrap business, which contributed $31 million to the increase in pre-tax operating income compared to 2012.", + "Stable value wrap notional assets under management grew to $24.6 billion at December 31, 2013 from $10.4 billion at December 31, 2012, including the notional amount of contracts transferred from an AIG affiliate.", + "Net investment income for 2013 increased slightly compared to 2012, primarily due to higher net investment income from alternative investments, largely offset by lower income from the base portfolio.", + "The increase in alternative investment income in 2013 compared to 2012 reflected higher hedge fund income due to favorable equity market conditions.", + "The decrease in base net income was primarily due to investment of available cash, including proceeds from sales of securities made during 2013 to utilize capital loss carryforwards, at rates below the weighted average yield of the overall portfolio.", + "General operating expenses in 2013 increased compared to 2012, primarily to support increased volume in the stable value wrap business.", + "Institutional Markets Premiums, Deposits and Net Flows For Institutional Markets, premiums represent amounts received on traditional life insurance policies and life-contingent payout annuities or structured settlements.", + "Premiums and deposits is a non-GAAP financial measure that includes direct and assumed premiums as well as deposits received on universal life insurance and investment-type annuity contracts, including GICs and stable value wrap funding agreements.", + "The following table presents a reconciliation of Institutional Markets premiums and deposits to GAAP premiums:", + "|(in millions)|2014|2013|2012|\n|Premiums and deposits|$3,797|$991|$774|\n|Deposits|-3,344|-354|-289|\n|Other|-21|-27|-27|\n|Premiums|$432|$610|$458|\n", + "The decrease in premiums in 2014 compared to 2013 was primarily due to a high volume of single-premium products sold in 2013, including life-contingent payout annuities.", + "Sales of these products decreased in 2014 compared to 2013 due to a more competitive environment as well as continued low interest rates.", + "The increase in deposits in 2014 compared to 2013 included a $2.5 billion deposit to the separate accounts of one of the Life Insurance Companies for a stable value wrap funding agreement.", + "The majority of stable value wrap sales are measured based on the notional amount included in assets under management, but do not include the receipt of funds that would be included in premiums and deposits.", + "The increase in deposits in 2014 compared to 2013 also reflected a $450 million GIC issued in 2014.", + "The increase in premiums in 2013 compared to 2012 reflected a high volume of single-premium product sales in 2013, including structured settlements with life contingencies and terminal funding annuities.", + "The increase in deposits in 2013 compared to 2012 reflected strong sales of high net worth products, primarily private placement variable annuities." + ], + "question_id": "simplong-test-88", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Ship improvements of 2015, and Other comprehensive income before reclassifications of Changes in definedbenefit plans ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The fair value of the PSU award at the date of grant is amortized to expense over the performance period, which is typically three years after the date of the award, or upon death, disability or reaching the age of 58.", + "As of December 31, 2017, PMI had $34 million of total unrecognized compensation cost related to non-vested PSU awards.", + "This cost is recognized over a weighted-average performance cycle period of two years, or upon death, disability or reaching the age of 58.", + "During the years ended December 31, 2017, and 2016, there were no PSU awards that vested.", + "PMI did not grant any PSU awards during 2015.", + "Note 10.", + "Earnings per Share:Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in PMI\u2019s earnings per share calculation pursuant to the two-class method.", + "Basic and diluted earnings per share (\u201cEPS\u201d) were calculated using the following:", + "||For the Years Ended December 31,|\n|(in millions)|2017|2016|2015|\n|Net earnings attributable to PMI|$6,035|$6,967|$6,873|\n|Less distributed and undistributed earnings attributable to share-based payment awards|14|19|24|\n|Net earnings for basic and diluted EPS|$6,021|$6,948|$6,849|\n|Weighted-average shares for basic EPS|1,552|1,551|1,549|\n|Plus contingently issuable performance stock units (PSUs)|1|\u2014|\u2014|\n|Weighted-average shares for diluted EPS|1,553|1,551|1,549|\n", + "For the 2017, 2016 and 2015 computations, there were no antidilutive stock options.", + "Notes to the Consolidated Financial Statements income (loss).", + "Refer to Note 14.", + "Fair Value Measurements and Derivative Instruments for further discussion.", + "For the years ended December 31, 2014 and December 31, 2013, we did not record an impairment of goodwill for our reporting units.", + "Accumulated goodwill impairment losses as of December 31, 2015 were $443.0 million attributable to our Pullmantur reporting unit.", + "NOTE 4.", + "INTANGIBLE ASSETS Intangible assets are reported in Other assets in our consolidated balance sheets and consist of the following (in thousands):", + "||2015|2014|\n|Indefinite-life intangible asset\u2014Pullmantur trademarks and trade names|$188,038|$214,112|\n|Impairment charge|-174,285|\u2014|\n|Foreign currency translation adjustment|-13,753|-26,074|\n|Total|$\u2014|$188,038|\n", + "As described in Note 3.", + "Goodwill, the increased challenges facing Pullmantur\u2019s Latin American strategy led to our decision to significantly change Pullmantur\u2019s strategy from growing the brand through vessel transfers to a right-sizing strategy causing us to negatively adjust our cash flow projections for the Pullmantur reporting unit.", + "As a result, during the third quarter of 2015, we performed an interim impairment evaluation of Pullmantur\u2019s trademarks and trade names using a discounted cash flow model and the relief-from-royalty method to compare the fair value of these indefinite-lived intangible assets to its carrying value.", + "We used a discount rate comparable to the rate used in valuing the Pullmantur reporting unit in our goodwill impairment test.", + "Based on our updated cash flow projections, we determined that the fair value of Pullmantur\u2019s trademarks and trade names no longer exceeded their carrying value.", + "Accordingly, we recognized an impairment charge of approximately $174.3 million to write down trademarks and trade names to their fair value.", + "The charge reflects the full carrying amount of the trademark and trade names leaving Pullmantur with no intangible assets on its books.", + "This impairment charge was recognized in earnings during the third quarter of 2015 and is reported within Impairment of Pullmantur related assets within our consolidated statements of comprehensive income (loss).", + "Refer to Note 14.", + "Fair Value Measurements and Derivative Instruments for further discussion.", + "For the years ended December 31, 2014 and December 31, 2013, we did not record an impairment of Pullmantur\u2019s trademark and trade names.", + "Finite-life intangible assets had a net carrying amount of zero as of December 31, 2015, December 31, 2014 and December 31, 2013.", + "NOTE 5.", + "PROPERTY AND EQUIPMENT Property and equipment consists of the following (in thousands):", + "||2015|2014|\n|Ships|$22,102,025|$21,620,336|\n|Ship improvements|2,019,294|1,904,524|\n|Ships under construction|734,998|561,779|\n|Land, buildings and improvements, including leasehold improvements and port facilities|337,109|303,394|\n|Computer hardware and software, transportation equipment and other|1,025,264|889,579|\n|Total property and equipment|26,218,690|25,279,612|\n|Less\u2014accumulated depreciation and amortization|-7,440,912|-7,085,985|\n||$18,777,778|$18,193,627|\n", + "Ships under construction include progress payments for the construction of new ships as well as planning, design, interest and other associated costs.", + "We capitalized interest costs of $26.5 million, $28.8 million and $17.9 million for the years 2015, 2014 and 2013, respectively.", + "We review our long-lived assets for impairment whenever events or changes in circumstances indicate potential impairment.", + "In conjunction with performing the two-step goodwill impairment test for the Pullmantur reporting unit, we identified that the estimated fair value of certain long-lived assets, consisting of two ships and three aircraft were less than their carrying values.", + "As a result of this determination, we evaluated these assets pursuant to our long-lived asset impairment test.", + "The decision to significantly reduce our exposure to the Latin American market negatively impacted the expected undiscounted cash flows of these vessels and aircraft and resulted in an impairment charge of $113.2 million to write down these assets to their estimated fair values.", + "This impairment charge was recognized in earnings during the third quarter of 2015 and is reported within Impairment of Pullmantur related assets within our consolidated statements of comprehensive income (loss).", + "Additionally, during 2013, the fair value of Pullmantur\u2019s aircraft were determined to be less than their carrying value which led to a restructuring related impairment charge of $13.5 million.", + "Furthermore, Pullmantur\u2019s non-core businesses met the accounting criteria to be classified as held for sale during the fourth quarter of 2013 which led to restructuring related impairment charges of $18.2 million to adjust the carrying value of property and equipment held for sale to its fair value, less cost to sell.", + "These impairment charges were reported within Restructuring and related impairment charges in our consolidated statements of comprehensive income (loss).", + "Notes to the Consolidated Financial Statements << 84 >> | 2015 ANNUAL REPORT NOTE 13.", + "CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2015 and 2014 (in thousands):", + "||Changes related to cash flow derivative hedges|Changes in definedbenefit plans|Foreign currency translation adjustments|Accumulated other comprehensive income (loss)|\n|Accumulated comprehensive loss at January 1, 2013|$-84,505|$-34,823|$-15,188|$-134,516|\n|Other comprehensive income before reclassifications|188,073|8,240|1,529|197,842|\n|Amounts reclassified from accumulated other comprehensive income (loss)|-60,244|2,589|\u2014|-57,655|\n|Net current-period other comprehensive income|127,829|10,829|1,529|140,187|\n|Accumulated comprehensive income (loss) at January 1, 2014|43,324|-23,994|-13,659|5,671|\n|Other comprehensive loss before reclassifications|-919,094|-8,937|-28,099|-956,130|\n|Amounts reclassified from accumulated other comprehensive income (loss)|49,744|1,724|1,997|53,465|\n|Net current-period other comprehensive loss|-869,350|-7,213|-26,102|-902,665|\n|Accumulated comprehensive loss at January 1, 2015|-826,026|-31,207|-39,761|-896,994|\n|Other comprehensive (loss) income before reclassifications|-697,671|3,053|-25,952|-720,570|\n|Amounts reclassified from accumulated other comprehensive income (loss)|291,624|1,707|-4,200|289,131|\n|Net current-period other comprehensive (loss) income|-406,047|4,760|-30,152|-431,439|\n|Accumulated comprehensive loss at December 31, 2015|$-1,232,073|$-26,447|$-69,913|$-1,328,433|\n", + "The following table presents reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2015 and 2014 (in thousands):" + ], + "question_id": "simplong-test-89", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Gas Delivered($ in millions), what's the sum of Firm sales for Gas Delivered($ in millions)? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE AES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) DECEMBER 31, 2017, 2016, AND 2015 145 On December 8, 2017, the Board of Directors declared a quarterly common stock dividend of $0.13 per share payable on February 15, 2018 to shareholders of record at the close of business on February 1, 2018.", + "Stock Repurchase Program \u2014 No shares were repurchased in 2017.", + "The cumulative repurchases from the commencement of the Program in July 2010 through December 31, 2017 totaled 154.3 million shares for a total cost of $1.9 billion, at an average price per share of $12.12 (including a nominal amount of commissions).", + "As of December 31, 2017, $246 million remained available for repurchase under the Program.", + "The common stock repurchased has been classified as treasury stock and accounted for using the cost method.", + "A total of 155,924,785 and 156,878,891 shares were held as treasury stock at December 31, 2017 and 2016, respectively.", + "Restricted stock units under the Company's employee benefit plans are issued from treasury stock.", + "The Company has not retired any common stock repurchased since it began the Program in July 2010.15.", + "SEGMENTS AND GEOGRAPHIC INFORMATION The segment reporting structure uses the Company's organizational structure as its foundation to reflect how the Company manages the businesses internally and is organized by geographic regions which provides a socio\u0002political-economic understanding of our business.", + "During the third quarter of 2017, the Europe and Asia SBUs were merged in order to leverage scale and are now reported as part of the Eurasia SBU.", + "The management reporting structure is organized by five SBUs led by our President and Chief Executive Officer: US, Andes, Brazil, MCAC and Eurasia SBUs.", + "The Company determined that it has five operating and five reportable segments corresponding to its SBUs.", + "All prior period results have been retrospectively revised to reflect the new segment reporting structure.", + "In February 2018, we announced a reorganization as a part of our ongoing strategy to simplify our portfolio, optimize our cost structure, and reduce our carbon intensity.", + "The Company is currently evaluating the impact this reorganization will have on our segment reporting structure.", + "Corporate and Other \u2014 Corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in \"Corporate and Other. \"", + "Also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation.", + "The Company uses Adjusted PTC as its primary segment performance measure.", + "Adjusted PTC, a non-GAAP measure, is defined by the Company as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation.", + "Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities.", + "The Company has concluded Adjusted PTC better reflects the underlying business performance of the Company and is the most relevant measure considered in the Company's internal evaluation of the financial performance of its segments.", + "Additionally, given its large number of businesses and complexity, the Company concluded that Adjusted PTC is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the Company's results.", + "Revenue and Adjusted PTC are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable.", + "All intra-segment activity has been eliminated within the segment.", + "Inter-segment activity has been eliminated within the total consolidated results.", + "The following tables present financial information by segment for the periods indicated (in millions):", + "||Total Revenue|\n|Year Ended December 31,|2017|2016|2015|\n|US SBU|$3,229|$3,429|$3,593|\n|Andes SBU|2,710|2,506|2,489|\n|Brazil SBU|542|450|962|\n|MCAC SBU|2,448|2,172|2,353|\n|Eurasia SBU|1,590|1,670|1,875|\n|Corporate and Other|35|77|31|\n|Eliminations|-24|-23|-43|\n|Total Revenue|$10,530|$10,281|$11,260|\n", + "Gas Operations Gas Facilities CECONY\u2019s capitalized costs for utility plant, net of accumulated depreciation, for gas facilities, which are primarily distribution facilities, were $5,749 million and $5,196 million at December 31, 2016 and 2015, respectively.", + "Natural gas is delivered by pipeline to CECONY at various points in or near its service territory and is distributed to customers by the company through an estimated 4,375 miles of mains and 370,924 service lines.", + "The company owns a natural gas liquefaction facility and storage tank at its Astoria property in Queens, New York.", + "The plant can store 1,062 MDt of which a maximum of about 240 MDt can be withdrawn per day.", + "The company has about 1,226 MDt of additional natural gas storage capacity at a field in upstate New York, owned and operated by Honeoye Storage Corporation, a corporation 28.8 percent owned by CECONY and 71.2 percent owned by Con Edison Development.", + "Gas Sales and Deliveries The company generally recovers the cost of the gas that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the gas it sells.", + "CECONY\u2019s gas revenues are subject to a weather normalization clause and a revenue decoupling mechanism.", + "As a result, its gas delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "CECONY\u2019s gas sales and deliveries for the last five years were:", + "||Year Ended December 31,|\n||2012|2013|2014|2015|2016|\n|Gas Delivered(MDt)||||||\n|Firm Sales||||||\n|Full service|57,595|67,007|75,630|77,197|75,892|\n|Firm transportation of customer-owned gas|52,860|61,139|68,731|72,864|68,442|\n|Total Firm Sales|110,455|128,146|144,361|150,061|144,334|\n|Interruptible Sales (a)|5,961|10,900|10,498|6,332|8,957|\n|Total Gas Delivered to CECONY Customers|116,416|139,046|154,859|156,393|153,291|\n|Transportation of customer-owned gas||||||\n|NYPA|48,107|48,682|47,548|44,038|43,101|\n|Other (mainly generating plants and interruptible transportation)|108,086|87,379|105,012|104,857|109,000|\n|Off-System Sales|730|4,638|15|389|\u2014|\n|Total Sales|273,339|279,745|307,434|305,677|305,392|\n|Gas Delivered($ in millions)||||||\n|Firm Sales||||||\n|Full service|$889|$1,059|$1,141|$956|$933|\n|Firm transportation of customer-owned gas|380|414|453|458|426|\n|Total Firm Sales|1,269|1,473|1,594|1,414|1,359|\n|Interruptible Sales|39|69|91|46|34|\n|Total Gas Delivered to CECONY Customers|1,308|1,542|1,685|1,460|1,393|\n|Transportation of customer-owned gas||||\n|NYPA|2|2|2|2|2|\n|Other (mainly generating plants and interruptible transportation)|68|71|70|54|57|\n|Off-System Sales|5|18|\u2014|1|\u2014|\n|Other operating revenues (mainly regulatory amortizations)|32|-17|-36|11|56|\n|Total Sales|$1,415|$1,616|$1,721|$1,528|$1,508|\n|Average Revenue per Dt Sold||||\n|Residential|$18.14|$18.52|$16.76|$13.91|$13.96|\n|General|$11.68|$12.05|$12.38|$9.73|$9.47|\n", + "(a) Includes 563, 5,362, 6,057, 1,229 and 4,708 MDt for 2012, 2013, 2014, 2015 and 2016, respectively, which are also reflected in firm transportation and other.", + "For further discussion of the company\u2019s gas operating revenues and its gas results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8", + "floating-rate notes to fixed-rates.", + "This includes notional amounts of offsetting swaps that neutralize our exposure to interest rates on other interest rate swaps.", + "FOREIGN EXCHANGE RISK Foreign currency fluctuations affect our net investments in foreign subsidiaries and foreign currency cash flows related to third party purchases, intercompany loans, and product shipments.", + "We are also exposed to the translation of foreign currency earnings to the U. S. dollar.", + "Our principal exposures are to the Australian dollar, British pound sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, and Mexican peso.", + "We mainly use foreign currency forward contracts to selectively hedge our foreign currency cash flow exposures.", + "We generally do not hedge more than 12 months forward and generally do not hedge intercompany transactions.", + "We also have many net investments in foreign subsidiaries that are denominated in euros.", + "We hedge a portion of these net investments by issuing euro-denominated commercial paper.", + "As of May 25, 2008, we had issued $472.9 million of euro\u0002denominated commercial paper and foreign exchange forward contracts that we have designated as a net investment hedge and thus deferred net foreign currency transaction losses of $69.6 million to accumulated other comprehensive income (loss).", + "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 hedge price risk for our principal ingredient and energy costs, including grains (oats, wheat, and corn), oils (principally soybean), non-fat dry milk, natural gas, and diesel fuel.", + "We manage our exposures through a combination of purchase orders, long-term contracts with suppliers, exchange\u0002traded 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.", + "As of May 25, 2008, the net notional value of commodity derivatives was $784.8 million, of which $524.8 million relates to agricultural positions and $260.0 million relates to energy positions.", + "These hedges relate to inputs that generally will be utilized within the next 12 months.", + "EQUITY INSTRUMENTS Equity price movements affect our compensation expense as certain investments owned by our employees related to our deferred compensation plan are revalued.", + "We use equity swaps to manage this market risk.", + "VALUE AT RISK The estimates in the table below 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, and equity prices under normal market conditions.", + "A Monte Carlo value-at-risk (VAR) methodology 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 exposure, 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; investments; interest rate swaps; foreign exchange forwards; commodity swaps, futures and options; and equity instruments.", + "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 potential VAR arising from a one-day loss in fair value for our interest rate, foreign currency, commodity, and equity market-risk-sensitive instruments outstanding as of May 25, 2008, and May 27, 2007, and the average fair value impact during the year ended May 25, 2008.", + "||Fair Value Impact|\n|In Millions|May 25, 2008|Average During Fiscal 2008|May 27, 2007|\n|Interest rate instruments|$18.9|$14.0|$10.1|\n|Foreign currency instruments|5.0|4.1|3.5|\n|Commodity instruments|6.3|4.7|4.0|\n|Equity instruments|1.2|1.0|0.9|\n" + ], + "question_id": "simplong-test-90", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Other investments for Amount in the sections where Equity securities is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "strategy to provide omni-channel solutions that combine gateway services, payment service provisioning and merchant acquiring across Europe.", + "This transaction was accounted for as a business combination.", + "We recorded the assets acquired, liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date.", + "In connection with the acquisition of Realex, we paid a transaction-related tax of $1.2 million.", + "Other acquisition costs were not material.", + "The revenue and earnings of Realex for the year ended May 31, 2015 were not material nor were the historical revenue and earnings of Realex material for the purpose of presenting pro forma information for the current or prior-year periods.", + "The estimated acquisition date fair values of the assets acquired, liabilities assumed and the noncontrolling interest, including a reconciliation to the total purchase consideration, are as follows (in thousands):", + "|Cash|$4,082|\n|Customer-related intangible assets|16,079|\n|Acquired technology|39,820|\n|Trade name|3,453|\n|Other intangible assets|399|\n|Other assets|6,213|\n|Liabilities|-3,479|\n|Deferred income tax liabilities|-7,216|\n|Total identifiable net assets|59,351|\n|Goodwill|66,809|\n|Noncontrolling interest|-7,280|\n|Total purchase consideration|$118,880|\n", + "Goodwill of $66.8 million arising from the acquisition, included in the Europe segment, was attributable to expected growth opportunities in Europe, potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology.", + "Goodwill associated with this acquisition is not deductible for income tax purposes.", + "The customer-related intangible assets have an estimated amortization period of 16 years.", + "The acquired technology has an estimated amortization period of 10 years.", + "The trade name has an estimated amortization period of 7 years.", + "strategy to provide omni-channel solutions that combine gateway services, payment service provisioning and merchant acquiring across Europe.", + "This transaction was accounted for as a business combination.", + "We recorded the assets acquired, liabilities assumed and noncontrolling interest at their estimated fair values as of the acquisition date.", + "In connection with the acquisition of Realex, we paid a transaction-related tax of $1.2 million.", + "Other acquisition costs were not material.", + "The revenue and earnings of Realex for the year ended May 31, 2015 were not material nor were the historical revenue and earnings of Realex material for the purpose of presenting pro forma information for the current or prior-year periods.", + "The estimated acquisition date fair values of the assets acquired, liabilities assumed and the noncontrolling interest, including a reconciliation to the total purchase consideration, are as follows (in thousands):", + "Goodwill of $66.8 million arising from the acquisition, included in the Europe segment, was attributable to expected growth opportunities in Europe, potential synergies from combining our existing business with gateway services and payment service provisioning in certain markets and an assembled workforce to support the newly acquired technology.", + "Goodwill associated with this acquisition is not deductible for income tax purposes.", + "The customer-related intangible assets have an estimated amortization period of 16 years.", + "The acquired technology has an estimated amortization period of 10 years.", + "The trade name has an estimated amortization period of 7 years.", + "On October 5, 2015, we paid \u20ac6.7 million ($7.5 million equivalent as of October 5, 2015) to acquire the remaining shares of Realex after which we own 100% of the outstanding shares.", + "Ezidebit On October 10, 2014, we completed the acquisition of 100% of the outstanding stock of Ezi Holdings Pty Ltd (\u00a1\u00b0Ezidebit\u00a1\u00b1) for AUD302.6 million in cash ($266.0 million equivalent as of the acquisition date).", + "This acquisition was funded by a combination of cash on hand and borrowings on our revolving credit facility.", + "Ezidebit is a leading integrated payments company focused on recurring payments verticals in Australia and New Zealand.", + "Ezidebit markets its services through a network of integrated software vendors and direct channels to numerous vertical markets.", + "We acquired Ezidebit to establish a direct distribution channel in Australia and New Zealand and to further enhance our existing integrated solutions offerings.", + "This transaction was accounted for as a business combination.", + "We recorded the assets acquired and liabilities assumed at their estimated fair values as of the acquisition date.", + "Certain adjustments to estimated fair value were recorded during the year ended May 31, 2016 based on new information obtained that existed as of the acquisition date.", + "During the measurement period, management determined that deferred income taxes should be reflected for certain nondeductible intangible assets.", + "Measurement-period adjustments, which are reflected in the table below, had no material effect on earnings or other comprehensive income for the current or prior periods.", + "The revenue and earnings of Ezidebit", + "for which $92 million of the fees are offset in incentive compensation expense in accordance with the terms of the contractual agreements.", + "Certain of these incentive fees are subject to positive or negative future adjustment based on cumulative fund performance in relation to specified benchmarks.", + "The increase also reflects $68 million greater revenues from proprietary investing mainly due to appreciation and gains on sale of real estate related investments, including income of $12 million relating to a single investment in the current period and $58 million relating to two sale transactions in the prior year.", + "Asset management fees increased $88 million mainly from institutional and retail customer assets as a result of increased asset values due to market appreciation and net asset flows.", + "Expenses 2007 to 2006 Annual Comparison.", + "Expenses, as shown in the table above under \u201c\u2014Operating Results,\u201d increased $170 million, from $1.457 billion in 2006 to $1.627 billion in 2007.", + "The increase is primarily driven by higher expenses associated with certain real estate funds, as discussed above.2006 to 2005 Annual Comparison.", + "Expenses increased $225 million, from $1.232 billion in 2005 to $1.457 billion in 2006.", + "The increase in expenses was primarily due to higher performance-based compensation costs resulting from favorable performance in 2006, higher expenses related to proprietary investing activities and incentive compensation related to performance based incentive fees, as discussed above.", + "Financial Advisory Operating Results The following table sets forth the Financial Advisory segment\u2019s operating results for the periods indicated.", + "||Year ended December 31,|\n||2007|2006|2005|\n||(in millions)|\n| Operating results:||||\n|Revenues|$373|$314|$199|\n|Expenses|76|287|454|\n|Adjusted operating income|297|27|-255|\n|Equity in earnings of operating joint ventures-1|-370|-294|-192|\n|Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures|$-73|$-267|$-447|\n", + "(1) Equity in earnings of operating joint ventures are included in adjusted operating income but excluded from income from continuing operations before income taxes and equity in earnings of operating joint ventures, as they are reflected on a U. S. GAAP basis on an after-tax basis as a separate line on our Consolidated Statements of Operations.", + "On July 1, 2003, we combined our retail securities brokerage and clearing operations with those of Wachovia Corporation, or Wachovia, and formed Wachovia Securities Financial Holdings, LLC, or Wachovia Securities, a joint venture now headquartered in St. Louis, Missouri.", + "As of December 31, 2007, we had a 38% ownership interest in the joint venture, with Wachovia owning the remaining 62%.", + "As part of the transaction, we retained certain assets and liabilities related to the contributed businesses, including liabilities for certain litigation and regulatory matters.", + "We account for our ownership of the joint venture under the equity method of accounting.", + "On October 1, 2007, Wachovia completed the acquisition of A. G. Edwards, Inc. , or A. G. Edwards, for $6.8 billion and on January 1, 2008 combined the retail securities brokerage business of A. G. Edwards with Wachovia Securities.", + "As discussed in Note 6 to the Consolidated Financial Statements, we have elected the \u201clookback\u201d option under the terms of the agreements relating to the joint venture in connection with the combination of the A. G. Edwards business with Wachovia Securities.", + "The \u201clookback\u201d option permits us to delay for approximately two years following the combination of the A. G. Edwards business with Wachovia Securities our decision to make or not to make payments to avoid or limit dilution of our ownership interest in the joint venture.", + "During this \u201clookback\u201d period, our share in the earnings of the joint venture, as well as our share of the one-time costs associated with the combination, will be based on our diluted ownership level, which is in the process of being determined.", + "Any payment at the end of the \u201clookback\u201d period to restore all or part of our ownership interest in the joint venture would be based on the appraised or agreed value of the existing joint venture and the A. G. Edwards business.", + "In such event, we would also need to make a true-up payment of one-time costs associated with the combination to reflect the incremental increase in our ownership interest in the joint venture.", + "Alternatively, we may at the end of the \u201clookback\u201d period \u201cput\u201d our joint venture interests to Wachovia based on the appraised value of the joint venture, excluding the A. G. Edwards business, as of the date of the combination of the A. G. Edwards business with Wachovia Securities.", + "We also retain our separate right to \u201cput\u201d our joint venture interests to Wachovia at any time after July 1, 2008 based on the appraised value of the joint venture, including the A. G. Edwards business, determined as if it were a public company and including a control premium such as would apply in the case of a sale of 100% of its common equity.", + "However, if in connection with the \u201clookback\u201d option we elect at the end of the \u201clookback\u201d period to make payments to avoid or limit dilution, we may not exercise this \u201cput\u201d option prior to the first anniversary of the end of the \u201clookback\u201d period.", + "Investment Results The following tables set forth the income yield and investment income, excluding realized investment gains (losses), for each major investment category of our general account for the periods indicated.", + "||Year Ended December 31, 2007|\n||Financial Services Businesses|Closed Block Business|Combined|\n||Yield-1|Amount|Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|5.10%|$5,700|6.59%|$3,047|5.53%|$8,747|\n|Trading account assets supporting insurance liabilities|5.12|716|\u2014|\u2014|5.12|716|\n|Equity securities|4.95|198|2.91|93|4.04|291|\n|Commercial loans|6.17|1,081|7.00|504|6.41|1,585|\n|Policy loans|5.23|188|6.35|333|5.90|521|\n|Short-term investments and cash equivalents|4.58|378|9.83|183|5.05|561|\n|Other investments|4.80|136|17.83|176|8.19|312|\n|Gross investment income before investment expenses|5.20|8,397|6.64|4,336|5.60|12,733|\n|Investment expenses|-0.14|-521|-0.23|-547|-0.17|-1,068|\n|Investment income after investment expenses|5.06%|7,876|6.41%|3,789|5.43%|11,665|\n|Investment results of other entities and operations-2||352||\u2014||352|\n|Total investment income||$8,228||$3,789||$12,017|\n", + "Year Ended December 31, 2006", + "||Year Ended December 31, 2006|\n||Financial Services Businesses|Closed Block Business|Combined|\n||Yield-1|Amount|Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|4.95%|$5,315|6.59%|$3,001|5.42%|$8,316|\n|Trading account assets supporting insurance liabilities|4.73|652|\u2014|\u2014|4.73|652|\n|Equity securities|5.15|182|2.81|81|4.10|263|\n|Commercial loans|6.15|982|7.58|529|6.58|1,511|\n|Policy loans|5.04|158|6.35|333|5.86|491|\n|Short-term investments and cash equivalents|5.38|342|10.91|191|6.06|533|\n|Other investments|8.03|217|10.76|94|8.72|311|\n|Gross investment income before investment expenses|5.14|7,848|6.61|4,229|5.56|12,077|\n|Investment expenses|-0.15|-515|-0.24|-549|-0.18|-1,064|\n|Investment income after investment expenses|4.99%|7,333|6.37%|3,680|5.38%|11,013|\n|Investment results of other entities and operations-2||307||\u2014||307|\n|Total investment income||$7,640||$3,680||$11,320|\n", + "(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity.", + "Yields for fixed maturities are based on amortized cost.", + "Yields for equity securities are based on cost.", + "Yields for securities lending activity are calculated net of corresponding liabilities and rebate expenses.", + "Yields exclude investment income on assets other than those included in invested assets of the Financial Services Businesses.", + "Prior periods yields are presented on a basis consistent with the current period presentation.", + "(2) Includes investment income of securities brokerage, securities trading, banking operations, real estate and relocation services, and asset management operations.", + "The net investment income yield on our general account investments after investment expenses, excluding realized investment gains (losses), was 5.43% and 5.38% for the years ended December 31, 2007 and 2006, respectively.", + "The net investment income yield attributable to the Financial Services Businesses was 5.06% for the year ended December 31, 2007, compared to 4.99% for the year ended December 31, 2006.", + "See below for a discussion of the change in the Financial Services Businesses\u2019 yields.", + "The net investment income yield attributable to the Closed Block Business was 6.41% for the year ended December 31, 2007, compared to 6.37% for the year ended December 31, 2006.", + "The increase was primarily due to higher income from investments in joint ventures and limited partnerships, driven by net appreciation of underlying assets and gains from the sale of underlying assets partially offset by lower mortgage loan prepayment income." + ], + "question_id": "simplong-test-91", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the proportion of all March 31 of Three months ended that are greater than 6000 to the total amount of March 31 of Three months ended in 2005?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The table below sets forth information on our share repurchases and dividends paid in 2015, 2014 and 2013.", + "||Payment Due by Period|\n|As of December 31, 2015 (in millions)|Total|Year 1|Years 2-3|Years 4-5|More than 5|\n|Debtobligations(a)|$52,727|$3,597|$6,842|$8,482|$33,806|\n|Capital lease obligations|156|30|47|39|40|\n|Operating lease obligations|3,459|452|782|608|1,617|\n|Purchaseobligations(b)|53,644|10,848|10,080|8,537|24,179|\n|Other long-term liabilities reflected on the balance sheet(c)|6,280|590|1,245|2,390|2,055|\n|Total(d)(e)|$116,266|$15,517|$18,996|$20,056|$61,697|\n", + "Refer to Note 10 and Note 17 to Comcast\u2019s consolidated financial statements.", + "(a) Excludes interest payments.", + "(b) Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum quantities to be purchased and price provisions.", + "Our purchase obligations related to our Cable Communications segment include programming contracts with cable networks and local broadcast television stations; contracts with customer premise equipment manufacturers, communications vendors and multichannel video providers for which we provide advertising sales representation; and other contracts entered into in the normal course of business.", + "Cable Communications programming contracts in the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts, which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming.", + "Our purchase obligations related to our NBCUniversal segments consist primarily of commitments to acquire film and television programming, including U. S. television rights to future Olympic Games through 2032, Sunday Night Football on the NBC network through the 2022-23 season, including the Super Bowl in 2018 and 2021, NHL games through the 2020-21 season, Spanish-language U. S. television rights to FIFA World Cup games through 2022, U.", + "S television rights to English Premier League soccer games through the 2021-22 season, certain PGA TOUR and other golf events through 2030 and certain NASCAR events through 2024, as well as obligations under various creative talent and employment agreements, including obligations to actors, producers, television personalities and executives, and various other television commitments.", + "Purchase obligations do not include contracts with immaterial future commitments.", + "(c) Other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares; deferred compensation obliga\u0002tions; and pension, postretirement and postemployment benefit obligations.", + "A contractual obligation with a carrying value of $1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled.", + "The contractual obligation involves an interest held by a third party in the revenue of certain theme parks.", + "The arrangement provides the counterparty with the right to periodic pay\u0002ments associated with current period revenue and, beginning in 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractually specified formula, which amount could be significantly higher than our current carrying value.", + "See Note 11 to Comcast\u2019s consolidated financial statements for additional information related to this arrangement.", + "Reserves for uncertain tax positions of $1.1 billion are not included in the table above because it is uncertain if and when these reserves will become payable.", + "Payments of $2.1 billion of participations and residuals are also not included in the table above because we cannot make a reliable esti\u0002mate of the period in which these obligations will be settled.", + "(d) Our contractual obligations do not include the commitment to invest up to $4 billion at any one time as an investor in Atairos due to our inability to estimate the timing of this funding.", + "In addition, we do not include any future expenditures related to the construction and development of the proposed Universal Studios theme park in Beijing, China as we are not currently obligated to make such funding.", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements 21.", + "COMMITMENTS AND GUARANTEES, CONTINGENT LIABILITIES AND LITIGATION AND REGULATORY MATTERS (continued) Summary The Company\u2019s litigation and regulatory matters are subject to many uncertainties, and given their complexity and scope, their outcome cannot be predicted.", + "It is possible that the results of operations or the cash flow of the Company in a particular quarterly or annual period could be materially affected by an ultimate unfavorable resolution of pending litigation and regulatory matters depending, in part, upon the results of operations or cash flow for such period.", + "Management believes, however, that the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company\u2019s financial position.22.", + "QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2005 and 2004 are summarized in the table below:", + "||Three months ended|\n|| March 31 | June 30 | September 30 |December 31|\n||(in millions, except per share amounts)|\n| 2005|||||\n|Total revenues|$7,721|$8,318|$7,787|$7,882|\n|Total benefits and expenses|6,403|7,002|6,670|7,162|\n|Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange|1,318|1,316|1,117|720|\n|Net income|929|883|1,364|364|\n|Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|1.51|1.59|2.66|0.80|\n|Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|1.49|1.56|2.61|0.78|\n|Basic net income per share\u2014Common Stock-1|1.51|1.50|2.63|0.79|\n|Diluted net income per share\u2014Common Stock-1|1.49|1.48|2.59|0.78|\n|Basic and diluted net income (loss) per share\u2014Class B Stock|70.50|53.50|11.50|-16.00|\n| 2004|||||\n|Total revenues|$6,692|$6,844|$7,299|$7,288|\n|Total benefits and expenses|5,985|6,155|6,228|6,387|\n|Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange|707|689|1,071|901|\n|Net income|401|549|728|578|\n|Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|0.75|1.02|1.14|0.78|\n|Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|0.73|1.00|1.11|0.76|\n|Basic net income per share\u2014Common Stock-1|0.58|1.04|1.11|0.65|\n|Diluted net income per share\u2014Common Stock-1|0.57|1.02|1.08|0.64|\n|Basic and diluted net income per share\u2014Class B Stock|46.00|3.50|79.00|120.50|\n", + "(1) Quarterly earnings per share amounts may not add to the full year amounts due to the averaging of shares.", + "Results for the second and fourth quarters of 2005 include pre-tax expenses of $136 million and $267 million, respectively, related to obligations and costs we retained in connection with businesses contributed to the retail securities brokerage joint venture with Wachovia, including accruals for estimated settlement costs related to market timing issues under active negotiation with state and federal authorities.", + "Results for the third quarter of 2005 include an income tax benefit of $720 million, as discussed further in Note 17.", + "As discussed in Note 2, the Company adopted SOP 03-1 effective January 1, 2004.", + "Results for the first quarter of 2004 include a loss from the cumulative effect of accounting changes, net of taxes, of $79 million related to the adoption of SOP 03-1.", + "In the fourth quarter of 2004 the Company committed to the sale or exit of its Dryden Wealth Management Business and results for the fourth quarter include a charge of $53 million for the impairment of goodwill associated with this business.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The effective income tax rate for 2016 was impacted by a tax benefit associated with U. S. federal tax return filings, a benefit resulting from the reduction of our German reserves as a result of the conclusion of an audit, a benefit resulting from the expiration of various statutes of limitation, and a benefit associated with the IP R&D asset impairment referenced in Note 4.", + "The Company and its subsidiaries are routinely subject to examinations by various taxing authorities.", + "In conjunction with these examinations and as a regular practice, the Company establishes and adjusts reserves with respect to its uncertain tax positions to address developments related to those positions.", + "The Company realized a net benefit of approximately $5.2 million in 2017 as a result of reducing its reserves with respect to uncertain tax positions, principally due to the expiration of a number of applicable statutes of limitations.", + "The Company realized a net benefit of approximately $8.8 million in 2016, as a result of reducing its reserves with respect to uncertain tax positions, principally due to the conclusion of a tax audit in Germany and the expiration of various statutes of limitations.", + "The Company realized a net benefit of approximately $4.6 million in 2015, which resulted from a reduction in the Company's U. S. reserves due to the conclusion of a tax audit, offset by an increase in the Company's foreign reserves with respect to developments in the tax audit in Germany discussed above.", + "The following table summarizes significant components of the Company\u2019s deferred tax assets and liabilities at December?31, 2017 and?2016:", + "||2017|2016|\n||(Dollars in thousands)|\n|Deferred tax assets:|||\n|Tax loss and credit carryforwards|$210,055|$136,046|\n|Pension|28,147|46,563|\n|Reserves and accruals|62,378|52,343|\n|Other|3,619|17,704|\n|Less: valuation allowances|-104,799|-104,520|\n|Total deferred tax assets|199,400|148,136|\n|Deferred tax liabilities:|||\n|Property, plant and equipment|22,299|32,209|\n|Intangibles \u2014 stock acquisitions|553,245|321,707|\n|Unremitted foreign earnings|223,494|63,419|\n|Other|228|466|\n|Total deferred tax liabilities|799,266|417,801|\n|Net deferred tax liability|$-599,866|$-269,665|\n", + "As a result of the TCJA, the Company reassessed and revalued its deferred tax positions at December 31, 2017.", + "As a result, the Company recognized a $46.1 million decrease in the net deferred tax liability in 2017.", + "Under the tax laws of various jurisdictions in which the Company operates, deductions or credits that cannot be fully utilized for tax purposes during the current year may be carried forward, subject to statutory limitations, to reduce taxable income or taxes payable in a future tax year.", + "At December?31, 2017, the tax effect of such carryforwards approximated $210.1 million.", + "Of this amount, $11.5 million has no expiration date, $2.0 million expires after 2017 but before the end of 2022 and $196.6 million expires after 2022.", + "A portion of these carryforwards consists of tax losses and credits obtained by the Company as a result of acquisitions; the utilization of these carryforwards are subject to an annual limitation imposed by Section?382 of the Internal Revenue Code, which limits a company\u2019s ability to deduct prior net operating losses following a more than 50 percent change in ownership.", + "It is not expected that the Section?382 limitation will prevent the Company ultimately from utilizing the applicable loss carryforwards.", + "The determination of state net operating loss carryforwards is dependent upon the United States?subsidiaries\u2019 taxable income or loss, the state\u2019s proportion of each subsidiary's taxable net income and the application of state laws, which can change from year to year and impact the amount of such carryforward.", + "The valuation allowance for deferred tax assets of $104.8 million and $104.5 million at December?31, 2017 and?2016, respectively, relates principally to the uncertainty of the Company\u2019s ability to utilize certain deferred tax", + "$3.8 bllin at the end of fiscal 2007.", + "Working capital, the excess of current assets over current liabilities, was $0.6 bllion at the end of fiscal 2008, down from $2.8 bllin at the end of fiscal 2007.", + "The decreases in cosh and cash equivolents, short-term investments and working capital were due primarily to the liquidation of a substantial portion of our investment portfolio to repay debt and to fund our ASR program.", + "In addition, at March 1, 2008, we ecassified $4 17 miion (par value) of our short-term investments in auction-rate securities to non-current assets within equity and other investments in our consolidoted balance sheet given the uncertainty of when these investments can be successfully liquidated at par as a result of the current market failures for auction-rate securities as described below.", + "In accordance with our investment policy, we invest with issuers who have high-quality credit and limit the amount of investment exposure to any one ssuer.", + "The primary objective of our investment activities is to preserve principal and maintain a desired level of liquidity to meet working capital needs.", + "We seek to preserve principal and minimize exposure to interest- rate fluctuations by limiting default risk, market risk and reinvestment risk.", + "All investment debt securities we own are investment grade.", + "We do not have any investments in securities that are collateralized by assets that include mortgages or subprime debt.", + "The vast majority of our investments in auction-rate securities are AAA/Aaa-rated and collateralized by student loans, which are guaranteed 95% to 100% by the U. S. government.", + "Until February 2008, the market for auction-rate securities was highly liquid.", + "Begining February 11, 2008, a substantial number of auctions began to fail as the amount of securities submitted for sale in those auctions exceeded the aggregate amount of the bids.", + "Substantially all of our auction-rate securities portfolio at March 1, 2008, has been subject to failed audions.", + "For each unsuccessful audion, the interest rate moves to a maximum rate defined for each security.", + "To date, we have collected all interest due on our audion-rate securities and expect to continue to do so in the future.", + "Since March 1, 2008 and through April 25, 2008, we have liquidated $20 million of auction-rate securities at par value.", + "At April 25, 2008, our auction-rate securities portfolio was $397 million (par value).", + "The principal associated with failed auctions will not be accessible until successful auctions occur, a buyer is found outside of the auction process, the issuers establish a different form of financing to replace these securities, or final payments come due according to the contractual maturities of the debt issues, which range from 8 to 40 years.", + "We believe that the credit quality of our auction-rote securities is high and that we will ultimately recover all amounts invested in these securities.", + "We do not believe the current iliquidity of these investments will have a material impact on our ability to execute our business plans as described below in the Outlook for Fiscal 2009 section of this MD&A.", + "Our liquidity is also ffected by restricted cash and investments in debt securities that are pledged as collateral or restricted to use for vendor payables, general liability insurance, workers' compensation insurance and warranty programs.", + "Restrided cash and investments in debt securities totaled $ 408 million and $382 million at March 1, 2008, and March 3, 2007, respectively, and were included in other current assets or equity and other invest ments.", + "Cash Flows The following table summarizes our cash flows from operating, investing and financing activities for each of the past three fiscal years ($ in millions):", + "||2008|2007|2006|\n|Total cash provided by (used in):||||\n|Operating activities|$2,025|$1,762|$1,740|\n|Investing activities|1,464|-780|-754|\n|Financing activities|-3,378|-513|-619|\n|Effect of exchange rate changes on cash|122|-12|27|\n|Increase in cash and cash equivalents|$233|$457|$394|\n", + "ITEM 2.", + "PROPERTIES Our worldwide headquarters is located on a 35-acre office complex in Atlanta, Georgia.", + "The complex includes our 621,000 square foot headquarters building and an 870,000 square foot building in which our North America group\u2019s main offices are located.", + "The complex also includes several other buildings, including our 264,000 square foot Coca-Cola Plaza building, technical and engineering facilities and a reception center.", + "We also own an office and retail building at 711 Fifth Avenue in New York, New York.", + "These properties, except for the North America group\u2019s main offices, are included in Corporate.", + "The North America group\u2019s main offices are included in the North America operating segment.", + "We own or lease additional facilities, real estate and office space throughout the world which we use for administrative, manufacturing, processing, packaging, storage, warehousing, distribution and retail operations.", + "These properties are generally included in the geographic operating segment in which they are located.", + "The following table summarizes our principal production, distribution and storage facilities by operating segment and Corporate as of December 31, 2018:", + "||Principal Concentrate and/or Syrup Plants|Principal Beverage Manufacturing/Bottling Plants|Distribution and Storage Warehouses|\n||Owned|Leased|Owned|Leased|Owned|Leased|\n|Europe, Middle East & Africa|6|\u2014|\u2014|\u2014|\u2014|1|\n|Latin America|5|\u2014|\u2014|\u2014|2|6|\n|North America|11|\u2014|9|1|\u2014|41|\n|Asia Pacific|6|\u2014|\u2014|\u2014|2|9|\n|Bottling Investments|\u2014|\u2014|45|5|64|69|\n|Corporate|3|\u2014|\u2014|\u2014|\u2014|7|\n|Total1|31|\u2014|54|6|68|133|\n", + "1 Does not include 36 owned and 2 leased principal beverage manufacturing/bottling plants and 23 owned and 30 leased distribution and storage warehouses related to our discontinued operations.", + "Management believes that our Company\u2019s facilities for the production of our products are suitable and adequate, that they are being appropriately utilized in line with past experience, and that they have sufficient production capacity for their present intended purposes.", + "The extent of utilization of such facilities varies based upon seasonal demand for our products.", + "However, management believes that additional production can be achieved at the existing facilities by adding personnel and capital equipment and, at some facilities, by adding shifts of personnel or expanding the facilities.", + "We continuously review our anticipated requirements for facilities and, on the basis of that review, may from time to time acquire or lease additional facilities and/or dispose of existing facilities.", + "ITEM 3.", + "LEGAL PROCEEDINGS The Company is involved in various legal proceedings, including the proceedings specifically discussed below.", + "Management believes that, except as disclosed in U. S. Federal Income Tax Dispute below, the total liabilities of the Company that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Company taken as a whole.", + "Aqua-Chem Litigation On December 20, 2002, the Company filed a lawsuit (The Coca-Cola Company v. Aqua-Chem, Inc. , Civil Action No.2002CV631-50) in the Superior Court of Fulton County, Georgia (\u201cGeorgia Case\u201d), seeking a declaratory judgment that the Company has no obligation to its former subsidiary, Aqua-Chem, Inc. , now known as Cleaver-Brooks, Inc. (\u201cAqua-Chem\u201d), for any past, present or future liabilities or expenses in connection with any claims or lawsuits against Aqua-Chem.", + "Subsequent to the Company\u2019s filing but on the same day, Aqua-Chem filed a lawsuit (Aqua-Chem, Inc. v. The Coca-Cola Company, Civil Action No.02CV012179) in the Circuit Court, Civil Division of Milwaukee County, Wisconsin (\u201cWisconsin Case\u201d).", + "In the Wisconsin Case, Aqua-Chem sought a declaratory judgment that the Company is responsible for all liabilities and expenses not covered by insurance in connection with certain of Aqua-Chem\u2019s general and product liability claims arising from occurrences prior to the Company\u2019s sale of Aqua-Chem in 1981, and a judgment for breach of contract in an amount exceeding $9 million for costs incurred by Aqua-Chem to date in connection with such claims.", + "The Wisconsin Case initially was stayed, pending final resolution of the Georgia Case, and later was voluntarily dismissed without prejudice by Aqua-Chem.", + "The Company owned Aqua-Chem from 1970 to 1981.", + "During that time, the Company purchased over $400 million of insurance coverage, which also insures Aqua-Chem for some of its prior and future costs for certain product liability and other claims.", + "The Company sold Aqua-Chem to Lyonnaise American Holding, Inc. , in 1981 under the terms of a stock sale agreement.", + "The 1981 agreement, and a subsequent 1983 settlement agreement, outlined the parties\u2019 rights and obligations concerning past and future", + "In addition to the consolidated operating results shown on the previous page, consolidated results for 2007 and adjusted growth rates for 2008 and 2007 are presented in the following table excluding the impact of the Latam transaction.", + "These results include the effect of foreign currency translation further discussed in the section titled Impact of foreign currency translation on reported results.", + "While the Company has converted certain other markets to a developmental license arrangement, management believes the Latam transaction and the associated charge are not indicative of ongoing operations due to the size and scope of the transaction.", + "Management believes that the adjusted operating results better reflect the underlying business trends relevant to the periods presented.", + "|Dollars in millions, except per share data| 2008|2007-1|Latam Transaction -1|2007ExcludingLatamTransaction|2006| 2008 Adjusted % Inc|2007 Adjusted% Inc|\n|Operating income|$6,443|$3,879|$-1,641|$5,520|$4,433| 17|25|\n|Income from continuing operations|4,313|2,335|-1,579|3,914|2,866| 10|37|\n|Income from discontinued operations||60||60|678| nm|nm|\n|Net income|4,313|2,395|-1,579|3,974|3,544| 9|12|\n|Income per common share \u2013 diluted||||||||\n|Continuing operations-2,3|3.76|1.93|-1.30|3.23|2.29| 16|41|\n|Discontinued operations||0.05||0.05|0.54| nm|nm|\n|Net income-2,3|3.76|1.98|-1.30|3.28|2.83| 15|16|\n", + "nm Not meaningful.", + "(1) The results for the full year 2007 included impairment and other charges of $1,665 million, partly offset by a benefit of $24 million due to eliminating depreciation on the assets in Latam in mid-April 2007, and a tax benefit of $62 million.", + "(2) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2008 compared with 2007.", + "On a net basis, these items negatively impact the comparison by 7 and 6 percentage points, respectively: 2008 ?", + "$0.09 per share gain on the sale of the Company\u2019s minority interest in Pret A Manger.2007 ?", + "$0.26 per share of income tax benefit resulting from the completion of an Internal Revenue Service (IRS) examination of the Company\u2019s 2003-2004 U. S. federal income tax returns; partly offset by ?", + "$0.02 per share of income tax expense related to the impact of a tax law change in Canada.", + "(3) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2007 compared with 2006.", + "On a net basis, these items positively impact the comparison by 15 and 12 percentage points, respectively: 2007 ?", + "$0.26 per share of income tax benefit resulting from the completion of an IRS examination of the Company\u2019s 2003-2004 U. S. federal income tax returns; partly offset by ?", + "$0.02 per share of income tax expense related to the impact of a tax law change in Canada.2006 ?", + "$0.08 per share of operating expenses primarily related to strategic actions taken to enhance overall profitability and improve returns; and ?", + "$0.01 per share of incremental income tax expense primarily related to the impact of a tax law change in Canada.", + "Net income and diluted net income per common share In 2008, net income and diluted net income per common share were $4.3 billion and $3.76.", + "Results benefited by a $109 million, or $0.09 per share, gain on the sale of the Company\u2019s minority interest in Pret A Manger.", + "In 2007, net income and diluted net income per common share were $2.4 billion and $1.98.", + "Income from continuing operations was $2.3 billion or $1.93 per share, which included $1.6 billion or $1.30 per share of net expense related to the Latam transaction.", + "This reflects an impairment charge of $1.32 per share, partly offset by a $0.02 per share benefit due to eliminating depreciation on the assets in Latam in mid-April 2007 in accordance with accounting rules.", + "In addition, 2007 results included a net tax benefit of $288 million or $0.24 per share resulting from the completion of an IRS examination of the Company\u2019s 2003-2004 U. S. federal income tax returns, partly offset by the impact of a tax law change in Canada.", + "Income from discontinued operations was $60 million or $0.05 per share.", + "In 2006, net income and diluted net income per common share were $3.5 billion and $2.83.", + "Income from continuing operations was $2.9 billion or $2.29 per share, which included $134 million ($98 million after tax or $0.08 per share) of impairment and other charges primarily related to strategic actions taken to enhance overall profitability and improve returns, as well as $0.01 per share of net incremental income tax expense primarily related to the impact of a tax law change in Canada.", + "Income from discontinued operations was $678 million or $0.54 per share.", + "Refer to the Impairment and other charges, net and Dis\u0002continued operations sections for further discussion.", + "The Company repurchased 69.7 million shares of its stock for $4.0 billion in 2008 and 77.1 million shares for $3.9 billion in 2007, driving reductions of over 4% and 3% of total shares out\u0002standing, respectively, net of stock option exercises.", + "maintenance and contract expenses incurred by our subsidiaries for external transportation services); materials used to maintain the Railroad\u2019s lines, structures, and equipment; costs of operating facilities jointly used by UPRR and other railroads; transportation and lodging for train crew employees; trucking and contracting costs for intermodal containers; leased automobile maintenance expenses; and tools and supplies.", + "Expenses for contract services increased $103 million in 2012 versus 2011, primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars.", + "Expenses for contract services increased $106 million in 2011 versus 2010, driven by volume-related external transportation services incurred by our subsidiaries, and various other types of contractual services, including flood-related repairs, mitigation and improvements.", + "Volume-related crew transportation and lodging costs, as well as expenses associated with jointly owned operating facilities, also increased costs compared to 2010.", + "In addition, an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011.", + "Depreciation \u2013 The majority of depreciation relates to road property, including rail, ties, ballast, and other track material.", + "A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2012 compared to 2011.", + "A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2011 compared to 2010.", + "Higher depreciation rates for rail and other track material also contributed to the increase.", + "The higher rates, which became effective January 1, 2011, resulted primarily from increased track usage (based on higher gross ton-miles in 2010).", + "Equipment and Other Rents \u2013 Equipment and other rents expense primarily includes rental expense that the Railroad pays for freight cars owned by other railroads or private companies; freight car, intermodal, and locomotive leases; and office and other rent expenses.", + "Increased automotive and intermodal shipments, partially offset by improved car-cycle times, drove an increase in our short-term freight car rental expense in 2012.", + "Conversely, lower locomotive lease expense partially offset the higher freight car rental expense.", + "Costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense.", + "Other \u2013 Other expenses include personal injury, freight and property damage, destruction of equipment, insurance, environmental, bad debt, state and local taxes, utilities, telephone and cellular, employee travel, computer software, and other general expenses.", + "Other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes.", + "Despite continual improvement in our safety experience and lower estimated annual costs, personal injury expense increased in 2012 compared to 2011, as the liability reduction resulting from historical claim experience was less than the reduction in 2011.", + "Higher property taxes, casualty costs associated with destroyed equipment, damaged freight and property and environmental costs increased other costs in 2011 compared to 2010.", + "A one-time payment of $45 million in the first quarter of 2010 related to a transaction with CSXI and continued improvement in our safety performance and lower estimated liability for personal injury, which reduced our personal injury expense year-over-year, partially offset increases in other costs." + ], + "question_id": "simplong-test-92", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much money can the company deduct on the income tax in the future after this acquisition?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CITIZENS FINANCIAL GROUP, INC.", + "SELECTED STATISTICAL INFORMATION", + "||As of and for the Year Ended December 31,|\n|(dollars in millions)|2014|2013|2012|2011|2010|\n|Gross Charge-offs:||||||\n|Commercial|-$31|-$72|-$127|-$170|-$267|\n|Commercial real estate|-12|-36|-129|-208|-420|\n|Leases|\u2014|\u2014|-1|\u2014|-1|\n|Total commercial|-43|-108|-257|-378|-688|\n|Residential mortgages|-36|-54|-85|-98|-121|\n|Home equity loans|-55|-77|-121|-124|-131|\n|Home equity lines of credit|-80|-102|-118|-106|-112|\n|Home equity loans serviced by others-2|-55|-119|-220|-300|-443|\n|Home equity lines of credit serviced by others-2|-12|-27|-48|-66|-97|\n|Automobile|-41|-19|-29|-47|-94|\n|Student|-54|-74|-88|-97|-118|\n|Credit cards|-64|-68|-68|-85|-176|\n|Other retail|-53|-55|-76|-85|-111|\n|Total retail|-450|-595|-853|-1,008|-1,403|\n|Total gross charge-offs|-$493|-$703|-$1,110|-$1,386|-$2,091|\n|Gross Recoveries:||||||\n|Commercial|$35|$46|$64|$42|$33|\n|Commercial real estate|23|40|47|47|23|\n|Leases|\u2014|1|2|3|1|\n|Total commercial|58|87|113|92|57|\n|Residential mortgages|11|10|16|15|11|\n|Home equity loans|24|26|27|27|32|\n|Home equity lines of credit|15|19|9|9|5|\n|Home equity loans serviced by others-2|21|23|22|18|16|\n|Home equity lines of credit serviced by others-2|5|5|5|4|4|\n|Automobile|20|12|21|35|46|\n|Student|9|13|14|12|57|\n|Credit cards|7|7|8|9|14|\n|Other retail|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total retail|112|115|122|129|185|\n|Total gross recoveries|$170|$202|$235|$221|$242|\n|Net (Charge-offs)/Recoveries:||||||\n|Commercial|$4|-$26|-$63|-$128|-$234|\n|Commercial real estate|11|4|-82|-161|-397|\n|Leases|\u2014|1|1|3|\u2014|\n|Total commercial|15|-21|-144|-286|-631|\n|Residential mortgages|-25|-44|-69|-83|-110|\n|Home equity loans|-31|-51|-94|-97|-99|\n|Home equity lines of credit|-65|-83|-109|-97|-107|\n|Home equity loans serviced by others-2|-34|-96|-198|-282|-427|\n|Home equity lines of credit serviced by others-2|-7|-22|-43|-62|-93|\n|Automobile|-21|-7|-8|-12|-48|\n|Student|-45|-61|-74|-85|-61|\n|Credit cards|-57|-61|-60|-76|-162|\n|Other retail|-53|-55|-76|-85|-111|\n|Total retail|-338|-480|-731|-879|-1,218|\n|Total net (charge-offs)/recoveries|-$323|-$501|-$875|-$1,165|-$1,849|\n|Ratio of net charge-offs to average loans and leases|-0.36%|-0.59%|-1.01%|-1.35%|-2.04%|\n", + "The estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed, including a reconciliation to the total purchase consideration, are as follows (in thousands):", + "|Cash|$45,826|\n|Customer-related intangible assets|42,721|\n|Acquired technology|27,954|\n|Trade name|2,901|\n|Other assets|2,337|\n|Deferred income tax assets (liabilities)|-9,788|\n|Other liabilities|-49,797|\n|Total identifiable net assets|62,154|\n|Goodwill|203,828|\n|Total purchase consideration|$265,982|\n", + "Goodwill of $203.8 million arising from the acquisition, included in the Asia-Pacific segment, was attributable to expected growth opportunities in Australia and New Zealand, as well as growth opportunities and operating synergies in integrated payments in our existing Asia-Pacific and North America markets.", + "Goodwill associated with this acquisition is not deductible for income tax purposes.", + "The customer-related intangible assets have an estimated amortization period of 15 years.", + "The acquired technology has an estimated amortization period of 15 years.", + "The trade name has an estimated amortization period of 5 years.", + "NOTE 3 \u2014 SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS Funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants.", + "For transactions processed on our systems, we use our internal network to provide funding instructions to financial institutions that in turn fund the merchants.", + "We process funds settlement under two models, a sponsorship model and a direct membership model.", + "Under the sponsorship model, we are designated as a Merchant Service Provider by MasterCard and an Independent Sales Organization by Visa, which means that member clearing banks (\u201cMember\u201d) sponsor us and require our adherence to the standards of the payment networks.", + "In certain markets, we have sponsorship or depository and clearing agreements with financial institution sponsors.", + "These agreements allow us to route transactions under the Members\u2019 control and identification numbers to clear credit card transactions through MasterCard and Visa.", + "In this model, the standards of the payment networks restrict us from performing funds settlement or accessing merchant settlement funds, and, instead, require that these funds be in the possession of the Member until the merchant is funded.", + "Under the direct membership model, we are members in various payment networks, allowing us to process and fund transactions without third-party sponsorship.", + "In this model, we route and clear transactions directly through the card brand\u2019s network and are not restricted from performing funds settlement.", + "Otherwise, we process these transactions similarly to how we process transactions in the sponsorship model.", + "We are required to adhere to the standards of the payment networks in which we are direct members.", + "We maintain relationships with financial institutions, which may also serve as our Member sponsors for other card brands or in other markets, to assist with funds settlement.", + "Timing differences, interchange fees, Merchant Reserves and exception items cause differences between the amount received from the payment networks and the amount funded to the merchants.", + "These intermediary balances arising in our settlement process for direct merchants are reflected as settlement processing assets and obligations on our consolidated balance sheets.", + "Settlement processing assets and obligations include the components outlined below: ?", + "Interchange reimbursement.", + "Our receivable from merchants for the portion of the discount fee related to reimbursement of the interchange fee.", + "x The Executive Benefits business offers corporate-owned universal and variable universal life insurance (\u201cCOLI\u201d) and bank\u0002owned universal and variable universal life insurance (\u201cBOLI\u201d) to small to mid-sized banks and mid to large-sized corporations, mostly through executive benefit brokers.11 The Group Protection segment focuses on offering group term life, disability income and dental insurance primarily in the small to mid-sized employer marketplace for their eligible employees.", + "Employer Markets - Retirement Products The Defined Contribution business is the largest business in this segment and focuses on 403(b) plans and 401(k) plans.", + "Lincoln has a strong historical presence in the 403(b) space where assets account for about 61% of total assets under management in this segment as of December 31, 2007.", + "The 401(k) business accounts for 51% of our new deposits as of December 31, 2007.", + "The Retirement Products segment\u2019s deposits (in millions) were as follows:", + "|| For the Years Ended December 31,|\n|| 2007| 2006| 2005|\n|Variable portion of variable annuity|$2,355|$2,525|$2,254|\n|Fixed portion of variable annuity|351|441|520|\n|Total variable annuity|2,706|2,966|2,774|\n|Fixed annuity|754|506|563|\n|Alliance Mutual Fund|2,090|1,113|1,066|\n|Total annuity and Alliance|5,550|4,585|4,403|\n|COLI and BOLI|303|267|210|\n|Total deposits|$5,853|$4,852|$4,613|\n", + "Retirement Products - Defined Contribution Products Employer Markets currently offers four primary products to the employer-sponsored market: Lincoln American Legacy RetirementSM, LINCOLN DIRECTORSM, LINCOLN ALLIANCE?", + "and Multi-Fund?.", + "Lincoln American Legacy RetirementSM , LINCOLN DIRECTORSM and Multi-Fund?", + "products are group variable annuities.", + "LINCOLN ALLIANCE?", + "is a mutual fund-based product.", + "These products cover both the 403(b) and 401(k) marketplace.", + "Both 403(b) and 401(k) plans are tax-deferred, defined contribution plans offered to employees of an entity to enable them to save for retirement.", + "The 403(b) plans are available to employees of educational institutions and certain non-profit entities, while 401(k) plans are generally available to employees of for\u0002profit entities.", + "The investment options for our annuities encompass the spectrum of asset classes with varying levels of risk and include both equity and fixed income.", + "As of December 31, 2007, healthcare clients accounted for 43% of account values for these products.", + "The Lincoln American Legacy RetirementSM variable annuity, launched in the third quarter of 2006, offers 51 investment options with 10 fund families, 20 of which are American Funds?", + "options.", + "This product is focused on the micro to small corporate 401(k) market.", + "LALR account values were $49 million as of December 31, 2007.", + "LINCOLN DIRECTORSM is a defined contribution retirement plan solution available to businesses of all sizes, but focused on micro- to small-sized corporations, generally with five to 200 lives.", + "Funded through a Lincoln National Life Insurance Company (\u201cLNL\u201d) group variable annuity contract, LINCOLN DIRECTORSM offers participants 60 investment options from 15 fund families.", + "In New York, Lincoln Life & Annuity Company of New York (\u201cLLANY\u201d) underwrites the annuity contracts, and these contracts offer 57 investment options from 16 fund families.", + "LINCOLN DIRECTORSM has the option of being serviced through a third-party administrator or fully serviced by Lincoln.", + "The Employer Markets Defined Contribution segment earns advisory fees, investment income, surrender charges and recordkeeping fees from this product.", + "Account values for LINCOLN DIRECTORSM were $7.7 billion, $7.5 billion and $6.5 billion as of December 31, 2007, 2006 and 2005, respectively.", + "Deposits for LINCOLN DIRECTORSM were $1.5 billion, $1.7 billion and $1.6 billion as of December 31, 2007, 2006 and 2005, respectively.", + "The LINCOLN ALLIANCE?", + "program, with an open architecture platform, bundles our traditional fixed annuity products with the employer\u2019s choice of retail mutual funds, along with recordkeeping and customized employee education components.", + "We earn fees for the services we provide to mutual fund accounts and investment margins on fixed annuities of LINCOLN ALLIANCE?", + "program accounts.", + "The retail mutual funds associated with this program are not included in the separate accounts reported on our Consolidated Balance Sheets.", + "This program is customized for each employer.", + "The target market is primarily education and" + ], + "question_id": "simplong-test-93", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Distribution fees reach in 2010 if it continues to grow at its current rate? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The Company is required to establish a valuation allowance for any portion of the deferred tax assets that management believes will not be realized.", + "Included in deferred tax assets is a significant deferred tax asset relating to capital losses that have been recognized for financial statement purposes but not yet for tax return purposes.", + "Under current U. S. federal income tax law, capital losses generally must be used against capital gain income within five years of the year in which the capital losses are recognized for tax purposes.", + "Significant judgment is required in determining if a valuation allowance should be established, and the amount of such allowance if required.", + "Factors used in making this determination include estimates relating to the performance of the business including the ability to generate capital gains.", + "Consideration is given to, among other things in making this determination, i) future taxable income exclusive of reversing temporary differences and carryforwards, ii) future reversals of existing taxable temporary differences, iii) taxable income in prior carryback years, and iv) tax planning strategies.", + "Based on analysis of the Company\u2019s tax position, management believes it is more likely than not that the results of future operations and implementation of tax planning strategies will generate sufficient taxable income to enable the Company to utilize all of its deferred tax assets.", + "Accordingly, no valuation allowance for deferred tax assets has been established as of December 31, 2009 and 2008.", + "Included in the Company\u2019s deferred income tax assets are tax benefits related to net operating loss carryforwards of $59 million which will expire beginning December 31, 2025 as well as tax credit carryforwards of $166 million which will expire beginning December 31, 2025.", + "A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2009 is as follows:", + "||2009|2008|2007|\n||(in millions)|\n|Balance at January 1|$-56|$164|$113|\n|Additions (reductions) based on tax positions related to the current year|1|-164|42|\n|Additions for tax positions of prior years|45|64|56|\n|Reductions for tax positions of prior years|-23|-120|-45|\n|Settlements|\u2014|\u2014|-2|\n|Balance at December 31|$-33|$-56|$164|\n", + "If recognized, approximately $81 million, $62 million and $84 million, net of federal tax benefits, of the unrecognized tax benefits as of December 31, 2009, 2008 and 2007, respectively, would affect the effective tax rate.", + "The Company recognizes interest and penalties related to unrecognized tax benefits as a component of the income tax provision.", + "The Company recognized $1 million in interest and penalties for the year ended December 31, 2009 and a net reduction of $25 million and $4 million in interest and penalties for the years ended December 31, 2008 and 2007, respectively.", + "At December 31, 2009 and 2008, the Company had a receivable of $12 million and $13 million, respectively, related to accrued interest and penalties.", + "It is reasonably possible that the total amounts of unrecognized tax benefits will change in the next 12 months.", + "However, there are a number of open audits and quantification of a range cannot be made at this time.", + "The Company or one or more of its subsidiaries files income tax returns in the U. S. federal jurisdiction, and various states and foreign jurisdictions.", + "With few exceptions, the Company is no longer subject to U. S. federal, state and local, or non-U.", + "S. income tax examinations by tax authorities for years before 1997.", + "The Internal Revenue Service (\u2018\u2018IRS\u2019\u2019), as part of the overall examination of the American Express Company consolidated return, completed its field examination of the Company\u2019s U. S. income tax returns for 1997 through 2002 during 2008 and completed its field examination of 2003 through 2004 in the third quarter of 2009.", + "However, for federal income tax purposes these years continue to remain open as a consequence of certain issues under appeal.", + "In the fourth quarter of 2008, the IRS commenced an examination of the Company\u2019s U. S. income tax returns for 2005 through 2007, which is expected to be completed in 2010.", + "The Company\u2019s or certain of its subsidiaries\u2019 state income tax returns are currently under examination by various jurisdictions for years ranging from 1998 through 2006.", + "On September 25, 2007, the IRS issued Revenue Ruling 2007-61 in which it announced that it intends to issue regulations with respect to certain computational aspects of the Dividends Received Deduction (\u2018\u2018DRD\u2019\u2019) related to separate account assets held in connection with variable contracts of life insurance companies.", + "Revenue Ruling 2007-61 suspended a revenue ruling issued in August 2007 that purported to change accepted industry and IRS interpretations of the statutes governing these computational questions.", + "Any regulations that the", + "The following table presents the changes in wrap account assets:", + "| | 2009|2008|\n| |(in billions)|\n|Balance at January 1|$72.8|$93.9|\n|Net flows|9.3|3.7|\n|Market appreciation/(depreciation)|12.8|-26.8|\n|Other|\u2014|2.0|\n|Balance at December 31|$94.9|$72.8|\n", + "Our wrap accounts had net inflows of $9.3 billion in 2009 compared to net inflows of $3.7 billion in 2008 and market appreciation of $12.8 billion in 2009 compared to market depreciation of $26.8 billion in 2008.", + "In 2008, we acquired $2.0 billion in wrap account assets attributable to our acquisition of H&R Block Financial Advisors, Inc. We provide securities execution and clearing services for our retail and institutional clients through our registered broker-dealer subsidiaries.", + "As of December 31, 2009, we administered $95.1 billion in assets for clients, an increase of $19.6 billion compared to the prior year primarily due to market appreciation.", + "The following table presents the results of operations of our Advice & Wealth Management segment:", + "| |Years Ended December 31,|||\n| |2009|2008|Change|\n| |(in millions, except percentages)|\n| Revenues|||||\n|Management and financial advice fees|$1,234|$1,339|$-105|-8%|\n|Distribution fees|1,733|1,912|-179|-9|\n|Net investment income|297|-43|340|NM|\n|Other revenues|85|80|5|6|\n|Total revenues|3,349|3,288|61|2|\n|Banking and deposit interest expense|133|178|-45|-25|\n|Total net revenues|3,216|3,110|106|3|\n| Expenses|||||\n|Distribution expenses|1,968|2,121|-153|-7|\n|General and administrative expense|1,282|1,138|144|13|\n|Total expenses|3,250|3,259|-9|\u2014|\n|Pretax loss|$-34|$-149|$115|77%|\n", + "Our Advice & Wealth Management segment pretax loss was $34 million in 2009 compared to pretax loss of $149 million in 2008.", + "Net revenues Net revenues were $3.2 billion for the year ended December 31, 2009 compared to $3.1 billion in the prior year, an increase of $106 million, or 3%, driven by an increase in net investment income as well as revenues resulting from our 2008 acquisitions and a decrease in banking and deposit interest expense, partially offset by decreases in management and financial advice fees and distribution fees.", + "Management and financial advice fees decreased $105 million, or 8%, to $1.2 billion for the year ended December 31, 2009, driven by a 22% decline in the daily average S&P 500 Index on a period-over-period basis, partially offset by net inflows.", + "Wrap account assets increased $22.1 billion, or 30%, compared to the prior year due to net inflows and market appreciation.", + "Financial planning fees were lower for the year ended December 31, 2009 compared to the prior year resulting from accelerated financial plan delivery standards in 2008.", + "Distribution fees decreased $179 million, or 9%, to $1.7 billion for the year ended December 31, 2009, primarily due to lower client activity levels and lower asset-based fees driven by lower equity markets, partially offset by revenues resulting from our 2008 acquisitions.", + "Liquidity and Capital Resources Overview We maintained substantial liquidity during 2009.", + "At December 31, 2009, we had $3.1 billion in cash and cash equivalents compared to $6.2 billion at December 31, 2008.", + "Excluding collateral received from derivative counterparties, cash and cash equivalents were $3.0 billion and $4.4 billion at December 31, 2009 and 2008, respectively.", + "We have additional liquidity available through an unsecured revolving credit facility for $750 million that expires in September 2010, which we anticipate re-establishing before expiration.", + "Under the terms of the underlying credit agreement, we can increase this facility to $1.0 billion.", + "Available borrowings under this facility are reduced by any outstanding letters of credit.", + "We have had no borrowings under this credit facility and had $2 million of outstanding letters of credit at December 31, 2009.", + "In June 2009, we issued $200 million of 7.75% senior notes due 2039 and $300 million of 7.30% senior notes due 2019 (collectively, \u2018\u2018senior notes\u2019\u2019).", + "In July 2009, we used a portion of the proceeds from the issuance of our senior notes to repurchase $450 million aggregate principal amount of our 5.35% senior notes due 2010 pursuant to a cash tender offer.", + "In addition, in June 2009, we received cash of $869 million from the issuance and sale of 36 million shares of our common stock.", + "In September 2009, we announced the all-cash acquisition of the long-term asset management business of Columbia Management, which is expected to close in the spring of 2010.", + "The total consideration to be paid will be between $900 million and $1.2 billion, which is expected to be funded through the use of cash on hand.", + "In 2009, our subsidiaries, Ameriprise Bank, FSB and RiverSource Life, became members of the Federal Home Loan Bank of Des Moines (\u2018\u2018FHLB of Des Moines\u2019\u2019), which provides these subsidiaries with access to collateralized borrowings.", + "As of December 31, 2009, we had no borrowings from the FHLB of Des Moines.", + "We believe cash flows from operating activities, available cash balances and our availability of revolver borrowings will be sufficient to fund our operating liquidity needs.", + "Various ratings organizations publish financial strength ratings, which measure an insurance company\u2019s ability to meet contractholder and policyholder obligations, and credit ratings.", + "The following table summarizes the ratings for Ameriprise Financial, Inc. and certain of its insurance subsidiaries as of the date of this filing:", + "| | A.M. Best Company, Inc.| Standard & Poor's Ratings Services| Moody's Investors Service| Fitch Ratings Ltd.|\n| Financial Strength Ratings|||||\n|RiverSource Life|A+|AA-|Aa3|AA-|\n|IDS Property Casualty Insurance Company|A|N/R|N/R|N/R|\n| Credit Ratings|||||\n|Ameriprise Financial, Inc.|a-|A|A3|A-|\n", + "As of December 31, 2009, A. M. Best Company, Inc. , Standard & Poor\u2019s Ratings Services, Moody\u2019s Investors Service and Fitch Ratings Ltd. retained negative outlooks on Ameriprise Financial, Inc. and RiverSource Life and the life insurance industry as a whole.", + "For information on how changes in our financial strength or credit ratings could affect our financial condition and results of operations, see the \u2018\u2018Risk Factors\u2019\u2019 discussion included in Part 1, Item 1A in our Annual Report on Form 10-K. Dividends from Subsidiaries Ameriprise Financial is primarily a parent holding company for the operations carried out by our wholly owned subsidiaries.", + "Because of our holding company structure, our ability to meet our cash requirements, including the payment of dividends on our common stock, substantially depends upon the receipt of dividends or return of capital from our subsidiaries, particularly our life insurance subsidiary, RiverSource Life, our face-amount certificate subsidiary, Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019), AMPF Holding Corporation, which is the parent company of our retail introducing broker-dealer subsidiary, Ameriprise Financial Services, Inc. (\u2018\u2018AFSI\u2019\u2019) and our clearing broker-dealer subsidiary, American Enterprise Investment Services, Inc. (\u2018\u2018AEIS\u2019\u2019), our auto and home insurance subsidiary, IDS Property Casualty Insurance Company (\u2018\u2018IDS Property Casualty\u2019\u2019), doing business as Ameriprise Auto & Home Insurance, Threadneedle, RiverSource Service Corporation and our investment advisory company, RiverSource Investments, LLC.", + "The payment of dividends by many of our subsidiaries is restricted and certain of our subsidiaries are subject to regulatory capital requirements.", + "Kendal Vroman, 39 Mr. Vroman has served as our Managing Director, Commodity Products, OTC Services & Information Products since February 2010.", + "Mr. Vroman previously served as Managing Director and Chief Corporate Development Officer from 2008 to 2010.", + "Mr. Vroman joined us in 2001 and since then has held positions of increasing responsibility, including most recently as Managing Director, Corporate Development and Managing Director, Information and Technology Services.", + "Scot E. Warren, 47 Mr. Warren has served as our Managing Director, Equity Index Products and Index Services since February 2010.", + "Mr. Warren previously served as our Managing Director, Equity Products since joining us in 2007.", + "Prior to that, Mr. Warren worked for Goldman Sachs as its President, Manager Trading and Business Analysis Team.", + "Prior to Goldman Sachs, Mr. Warren managed equity and option execution and clearing businesses for ABN Amro in Chicago and was a Senior Consultant for Arthur Andersen & Co. for financial services firms.", + "FINANCIAL INFORMATION ABOUT GEOGRAPHIC AREAS Due to the nature of its business, CME Group does not track revenues based upon geographic location.", + "We do, however, track trading volume generated outside of traditional U. S. trading hours and through our international telecommunication hubs.", + "Our customers can directly access our exchanges throughout the world.", + "The following table shows the percentage of our total trading volume on our Globex electronic trading platform generated during non-U.", + "S. hours and through our international hubs." + ], + "question_id": "simplong-test-94", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the mostGross written premiums what is the growth rate of Premiums earned?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "A summary of these various obligations at December 31, 2012, follows (in millions):", + "||Total|2013|2014 to2015|2016 to2017|Thereafter|\n|Reclamation and environmental obligationsa|$5,243|$246|$471|$329|$4,197|\n|Debt maturities|3,527|2|500|500|2,525|\n|Take-or-pay contractsb|2,200|976|731|286|207|\n|Scheduled interest payment obligationsc|1,289|121|241|226|701|\n|Operating lease obligations|205|32|38|31|104|\n|Totald|$12,464|$1,377|$1,981|$1,372|$7,734|\n", + "a.", + "Represents estimated cash payments, on an undiscounted and unescalated basis, associated with reclamation and environmental activities.", + "The timing and the amount of these payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for additional discussion of environmental and reclamation matters.", + "b.", + "Represents contractual obligations for purchases of goods or services that are defined by us as agreements that are enforceable and legally binding and that specify all significant terms.", + "Take-or\u0002pay contracts primarily comprise the procurement of copper concentrates ($799 million), electricity ($524 million) and transportation services ($448 million).", + "Some of our take-or-pay contracts are settled based on the prevailing market rate for the service or commodity purchased, and in some cases, the amount of the actual obligation may change over time because of market conditions.", + "Obligations for copper concentrates provide for deliveries of specified volumes to Atlantic Copper at market-based prices.", + "Electricity obligations are primarily for contractual minimum demand at the South America and Tenke mines.", + "Transportation obligations are primarily for South America contracted ocean freight and for North America rail freight.", + "c. Scheduled interest payment obligations were calculated using stated coupon rates for fixed-rate debt and interest rates applicable at December 31, 2012, for variable-rate debt.", + "d. This table excludes certain other obligations in our consolidated balance sheets, including estimated funding for pension obligations as the funding may vary from year to year based on changes in the fair value of plan assets and actuarial assumptions, accrued liabilities totaling $107 million that relate to unrecognized tax benefits where the timing of settlement is not determinable; Atlantic Copper's obligations for retired employees totaling $38 million (refer to Note 10); and PT Freeport Indonesia's reclamation and closure cash fund obligation totaling $17 million (refer to Note 13).", + "This table also excludes purchase orders for the purchase of inventory and other goods and services, as purchase orders typically represent authorizations to purchase rather than binding agreements.", + "In addition to our debt maturities and other contractual obligations discussed above, we have other commitments, which we expect to fund with available cash, projected operating cash flows, available credit facility or future financing transactions, if necessary.", + "These include (i) PT Freeport Indonesia\u2019s commitment to provide one percent of its annual revenue for the development of the local people in its area of operations through the Freeport Partnership Fund for Community Development, (ii) TFM\u2019s commitment to provide 0.3 percent of its annual revenue for the development of the local people in its area of operations and (iii) other commercial commitments, including standby letters of credit, surety bonds and guarantees.", + "Refer to Notes 13 and 14 for further discussion.", + "CONTINGENCIES Environmental The cost of complying with environmental laws is a fundamental and substantial cost of our business.", + "At December 31, 2012, we had $1.2 billion recorded in our consolidated balance sheets for environmental obligations attributed to CERCLA or analogous state programs and for estimated future costs associated with environmental obligations that are considered probable based on specific facts and circumstances.", + "During 2012, we incurred environmental capital expenditures and other environmental costs (including our joint venture partners\u2019 shares) of $612 million for programs to comply with applicable environmental laws and regulations that affect our operations, compared to $387 million in 2011 and $372 million in 2010.", + "The increase in environmental costs in 2012, compared with 2011 and 2010, primarily relates to higher expenditures for land and settlements of environmental matters (see Note 13 for further discussion).", + "For 2013, we expect to incur approximately $600 million of aggregate environmental capital expenditures and other environmental costs, which are part of our overall 2013 operating budget.", + "The timing and amount of estimated payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for further information about environmental regulation, including significant environmental matters.", + "Asset Retirement Obligations We recognize AROs as liabilities when incurred, with the initial measurement at fair value.", + "These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to income.", + "Reclamation costs for disturbances are recorded as an ARO in the period of disturbance.", + "Our cost estimates are reflected on a third-party cost basis and comply with our legal obligation to retire tangible, long-lived assets.", + "At December 31, 2012, we had $1.1 billion recorded in our consolidated balance sheets for AROs.", + "Spending", + "ILLUMINA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Advertising Costs The Company expenses advertising costs as incurred.", + "Advertising costs were approximately $440,000 for 2003, $267,000 for 2002 and $57,000 for 2001.", + "Income Taxes A deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities, as well as the expected future tax benefit to be derived from tax loss and credit carryforwards.", + "Deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability.", + "Valuation allowances are established when realizability of deferred tax assets is uncertain.", + "The effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted.", + "Foreign Currency Translation The functional currencies of the Company\u2019s wholly owned subsidiaries are their respective local currencies.", + "Accordingly, all balance sheet accounts of these operations are translated to U. S. dollars using the exchange rates in effect at the balance sheet date, and revenues and expenses are translated using the average exchange rates in effect during the period.", + "The gains and losses from foreign currency translation of these subsidiaries\u2019 financial statements are recorded directly as a separate component of stockholders\u2019 equity under the caption \u2018\u2018Accumulated other comprehensive income.", + "\u2019\u2019 Stock-Based Compensation At December 28, 2003, the Company has three stock-based employee and non-employee director compensation plans, which are described more fully in Note 5.", + "As permitted by SFAS No.123, Accounting for Stock-Based Compensation, the Company accounts for common stock options granted, and restricted stock sold, to employees, founders and directors using the intrinsic value method and, thus, recognizes no compensation expense for options granted, or restricted stock sold, with exercise prices equal to or greater than the fair value of the Company\u2019s common stock on the date of the grant.", + "The Company has recorded deferred stock compensation related to certain stock options, and restricted stock, which were granted prior to the Company\u2019s initial public offering with exercise prices below estimated fair value (see Note 5), which is being amortized on an accelerated amortiza\u0002tion methodology in accordance with Financial Accounting Standards Board Interpretation Number (\u2018\u2018FIN\u2019\u2019) 28.", + "Pro forma information regarding net loss is required by SFAS No.123 and has been determined as if the Company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement.", + "The fair value for these options was estimated at the dates of grant using the fair value option pricing model (Black Scholes) with the following weighted-average assumptions for 2003, 2002 and 2001:", + "||Year Ended December 28, 2003|Year Ended December 29, 2002|Year Ended December 30, 2001|\n|Weighted average risk-free interest rate|3.03%|3.73%|4.65%|\n|Expected dividend yield|0%|0%|0%|\n|Weighted average volatility|103%|104%|119%|\n|Estimated life (in years)|5|5|5|\n|Weighted average fair value of options granted|$3.31|$4.39|$7.51|\n", + "The Company renewed an unsecured bank credit line on April 29, 2010 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at June 30, 2010).", + "The credit line was renewed through April 29, 2012.", + "At June 30, 2010, $762 was outstanding.", + "The Company renewed a bank credit line on March 7, 2010 which provides for funding of up to $8,000 and bears interest at the Federal Reserve Board\u2019s prime rate (3.25% at June 30, 2010).", + "The credit line expires March 7, 2011 and is secured by $1,000 of investments.", + "At June 30, 2010, no amount was outstanding.", + "The Company has entered into a bank credit facility agreement that includes a revolving loan, a term loan and a bullet term loan.", + "The revolving loan allows short-term borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000.", + "The revolving loan terminates June 4, 2015.", + "At June 30, 2010, the outstanding revolving loan balance was $120,000.", + "The term loan has an original principal balance of $150,000, with quarterly principal payments of $5,625 beginning on September 30, 2011, and the remaining balance due June 4, 2015.", + "The bullet term loan had an original principal balance of $100,000.", + "The full balance, which would have been due on December 4, 2010, was paid in full on July 8, 2010 as set forth in Note 15 to the Consolidated Financial Statements (see Item 8).", + "Each of the loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company\u2019s leverage ratio.", + "The outstanding balances bear interest at a weighted average rate of 2.99%.", + "The loans are secured by pledges of capital stock of certain subsidiaries of the Company.", + "The loans are also guaranteed by certain subsidiaries of the Company.", + "The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement.", + "As of June 30, 2010, the Company was in compliance with all such covenants.", + "The Company has entered into various capital lease obligations for the use of certain computer equipment.", + "Included in property and equipment are related assets of $8,872.", + "At June 30, 2010, $5,689 was outstanding, of which $4,380 will be maturing in the next twelve months.", + "Contractual Obligations and Other Commitments At June 30, 2010 the Company\u2019s total off balance sheet contractual obligations were $36,935.", + "This balance consists of $27,228 of long-term operating leases for various facilities and equipment which expire from 2011 to 2017 and the remaining $9,707 is for purchase commitments related to property and equipment, particularly for contractual obligations related to the on-going construction of new facilities.", + "The table excludes $7,548 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.", + "Contractual obligations by Less than More than", + "|Contractual obligations by|Less than 1 year|||More than 5 years||\n|period as of June 30, 2010|1-3 years|3-5 years|TOTAL|\n|Operating lease obligations|$ 8,765|$ 9,422|$ 5,851|$ 3,190|$ 27,228|\n|Capital lease obligations|4,380|1,309|-|-|5,689|\n|Notes payable, including accrued interest|102,493|46,210|225,213|-|373,916|\n|Purchase obligations|9,707|-|-|-|9,707|\n|Total|$125,345|$56,941|$231,064|$3,190|$416,540|\n", + "Recent Accounting Pronouncements In December 2007, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Statement on Financial Accounting Standards (\u201cSFAS\u201d) No.141(R), \u201cBusiness Combinations,\u201d (\u201cSFAS 141(R)\u201d) which replaces SFAS No.141 and has since been incorporated into the Accounting Standards Codification (\u201cASC\u201d) as ASC 805-10.", + "ASC 805-10 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in the acquired entity and the goodwill acquired.", + "The Statement also establishes disclosure requirements which will enable users of the financial statements to evaluate the nature and financial effects of the business combination.", + "Relative to SFAS 141(R), the FASB issued FSP 141(R)-1 on April 1, 2009, which is now incorporated in ASC 805-20.", + "ASC 805-20 eliminates the requirement under FAS 141(R) to record assets and liabilities at the acquisition date for noncontractual contingencies at fair value where it is deemed \u201cmore-likely-than-not\u201d that an asset or liability would result.", + "Under ASC 805-20, such assets and liabilities would only need to be recorded where the fair value can be determined during the measurement period or where it is probable that an asset or liability exists at the acquisition date and the amount of fair value can be reasonably determined.", + "ASC 805-10 was effective for the Company on July 1, 2009.", + "The adoption", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2012/2011|2011/2010|\n|(Dollars in millions)|2012|2011|2010|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,073.1|$975.6|$865.4|$97.5|10.0%|$110.3|12.7%|\n|Net written premiums|852.1|820.5|620.3|31.6|3.9%|200.2|32.3%|\n|Premiums earned|$852.4|$821.2|$641.1|$31.3|3.8%|$180.1|28.1%|\n|Incurred losses and LAE|700.3|705.9|536.8|-5.6|-0.8%|169.2|31.5%|\n|Commission and brokerage|117.6|137.7|120.8|-20.1|-14.6%|16.9|14.0%|\n|Other underwriting expenses|103.0|89.5|69.7|13.5|15.1%|19.8|28.5%|\n|Underwriting gain (loss)|$-68.5|$-111.9|$-86.1|$43.5|-38.8%|$-25.8|30.0%|\n||||||Point Chg||Point Chg|\n|Loss ratio|82.2%|86.0%|83.7%||-3.8||2.3|\n|Commission and brokerage ratio|13.8%|16.8%|18.8%||-3.0||-2.0|\n|Other underwriting expense ratio|12.0%|10.8%|10.9%||1.2||-0.1|\n|Combined ratio|108.0%|113.6%|113.4%||-5.6||0.2|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums.", + "Gross written premiums increased by 12.7% to $975.6 million in 2011 compared to $865.4 million in 2010.", + "This was due to strategic portfolio changes with growth in short-tail business, primarily driven by the acquisition of Heartland, which provided $169.6 million of new crop insurance premium in 2011 and $54.0 million growth in A&H primary business, partially offset by the reduction of a large casualty program.", + "Net written premiums increased 32.3% to $820.5 million in 2011 compared to $620.3 million for the same period in 2010 due to higher gross premiums and reduced levels of ceded reinsurance, primarily due to the reduction of the large casualty program.", + "Premiums earned increased 28.1% to $821.2 million in 2011 compared to $641.1 million in 2010.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-95", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Long-term debt in relation to the total for Total contractual obligations ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Industrial Participation Agreements We have entered into various industrial participation agreements with certain customers outside of the U. S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us.", + "These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance.", + "However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.", + "S. customers.", + "In certain cases, penalties could be imposed if we do not meet our industrial participation commitments.", + "During 2017, we incurred no such penalties.", + "As of December 31, 2017, we have outstanding industrial participation agreements totaling $17.9 billion that extend through 2030.", + "Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above.", + "To be eligible for such a purchase order commitment from us, a non-U.", + "S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule.", + "Commercial Commitments The following table summarizes our commercial commitments outstanding as of December 31, 2017.", + "|(Dollars in millions)|Total AmountsCommitted/MaximumAmount of Loss|Less than1 year|1-3years|4-5years|After 5years|\n|Standby letters of credit and surety bonds|$3,708|$1,659|$782|$559|$708|\n|Commercial aircraft financing commitments|10,221|2,047|4,372|2,256|1,546|\n|Total commercial commitments|$13,929|$3,706|$5,154|$2,815|$2,254|\n", + "Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates.", + "Based on historical experience, we anticipate that we will not be required to fund a significant portion of our financing commitments.", + "However, there can be no assurances that we will not be required to fund greater amounts than historically required, particularly if the Export-Import Bank of the United States continues to be unable to, or does not, provide new financing support.", + "See Note 11 to our Consolidated Financial Statements.", + "Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us.", + "Legal contingencies are discussed in Note 20 to our Consolidated Financial Statements.", + "Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $524 million at December 31, 2017.", + "For additional information, see Note 11 to our Consolidated Financial Statements.", + "Off-Balance Sheet Arrangements We are a party to certain off-balance sheet arrangements including certain guarantees.", + "For discussion of these arrangements, see Note 12 to our Consolidated Financial Statements.", + "COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*", + "|Measurement PointDecember 31|The Priceline Group Inc.|NASDAQComposite Index|S&P 500Index|RDG InternetComposite|\n|2010|100.00|100.00|100.00|100.00|\n|2011|117.06|100.53|102.11|102.11|\n|2012|155.27|116.92|118.45|122.23|\n|2013|290.93|166.19|156.82|199.42|\n|2014|285.37|188.78|178.29|195.42|\n|2015|319.10|199.95|180.75|267.25|\n", + "Contractual Obligations: Presented in the following table are CMS Energy\u2019s and Consumers\u2019 contractual obligations for each of the periods presented.", + "The table excludes all amounts classified as current liabilities on CMS Energy\u2019s and Consumers\u2019 consolidated balance sheets, other than the current portion of long-term debt, capital leases, and financing obligation", + "||||||In Millions||\n||Payments Due||\n|||Less Than|One to|Three to|More Than||\n|December 31, 2013|Total|One Year|Three Years|Five Years|Five Years||\n| CMS Energy, including Consumers|||||||\n|Long-term debt|$7,654|$368|$1,207|$1,443|$4,636||\n|Interest payments on long-term debt|3,335|364|694|573|1,704||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,215|11|37|36|1,131||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|198|14|34|36|114||\n|Purchase obligations1|12,068|1,879|2,015|2,007|6,167||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$26,141|$2,787|$4,268|$4,365|$14,721||\n| Consumers|||||||\n|Long-term debt|$4,625|$43|$449|$848|$3,285||\n|Interest payments on long-term debt|2,259|225|441|370|1,223||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,214|11|37|36|1,130||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|127|8|24|28|67||\n|Purchase obligations1|11,838|1,803|1,960|1,953|6,122||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$21,734|$2,241|$3,192|$3,505|$12,796||\n", + "1 Long-term contracts for purchase of commodities and related services, and construction and service agreements.", + "The commodities and related services include natural gas and associated transportation, electricity, and coal and associated transportation.2 Long-term power purchase agreements from certain affiliates of CMS Enterprises.", + "CMS Energy and Consumers also have recognized non-current liabilities for which the timing of payments cannot be reasonably estimated.", + "These items, which are excluded from the table above, include regulatory liabilities, deferred income taxes, workers compensation liabilities, accrued liabilities under renewable energy programs, and other liabilities.", + "Retirement benefits are also excluded from the table above.", + "For details related to benefit payments, see Note 11, Retirement Benefits.", + "Off-Balance-Sheet Arrangements: CMS Energy, Consumers, and certain of their subsidiaries also enter into various arrangements in the normal course of business to facilitate commercial transactions with third parties.", + "These arrangements include indemnities, surety bonds, letters of credit, and financial and performance guarantees.", + "Indemnities are usually agreements to reimburse a counterparty that may incur losses due to outside claims or breach of contract terms.", + "The maximum payment that could be required under a number of these indemnity obligations is not estimable; the maximum obligation under", + "In December 2006 the Tax Relief and Health Care Act of 2006 was signed into law.", + "The Act included a reinstatement of the federal research and experimental credit through December 31, 2007 that was retroactive to January 1, 2006.", + "We recorded a discrete tax benefit of approximately $3.7 million for the retroactive amount related to fiscal 2006 during the twelve months ended July 31, 2007.", + "Significant deferred tax assets and liabilities were as follows at the dates indicated:", + "||July 31,|\n|(In thousands)| 2008|2007|\n|Deferred tax assets:|||\n|Accruals and reserves not currently deductible|$28,178|$34,095|\n|Deferred rent|13,859|21,363|\n|Accrued and deferred compensation|33,954|30,397|\n|Loss and tax credit carryforwards|38,782|19,448|\n|Property and equipment|12,130|30,385|\n|Share-based compensation|77,336|46,021|\n|Other, net|21,002|22,740|\n|Total deferred tax assets|225,241|204,449|\n|Deferred tax liabilities:|||\n|Intangible assets|65,925|41,152|\n|Other, net|5,095|4,022|\n|Total deferred tax liabilities|71,020|45,174|\n|Total net deferred tax assets|154,221|159,275|\n|Valuation allowance|\u2014|-2,527|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We had provided a valuation allowance related to the benefits of certain state capital loss carryforwards and state net operating losses that we believed were unlikely to be realized.", + "The valuation allowance decreased by $2.5 million during the twelve months ended July 31, 2008 as a result of the elimination of the deferred tax asset in connection with the sale of certain outsourced payroll assets.", + "See Note 7.", + "The valuation allowance decreased by $1.9 million during the twelve months ended July 31, 2007 due to utilization of $1.0 million and expired losses of $0.9 million.", + "The components of total net deferred tax assets, net of valuation allowance, as shown on our balance sheet were as follows at the dates indicated:", + "|| July 31,|\n|(In thousands)| 2008| 2007|\n|Current deferred income taxes|$101,730|$84,682|\n|Long-term deferred income taxes|52,491|72,066|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We acquired Electronic Clearing House, Inc. and Homestead Technologies Inc. in fiscal 2008 and Digital Insight in fiscal 2007.", + "See Note 6.", + "These companies had federal net operating loss carryforwards at their respective dates of acquisition that totaled approximately $164 million.", + "The tax effects of these federal net operating loss carryforwards and other federal tax credit carryforwards totaled approximately $66 million.", + "We recorded the tax effects of these carryforwards as deferred tax assets at the respective dates of acquisition.", + "These carryforwards do not result in an income tax provision benefit, but they reduce income taxes payable and cash paid for income taxes as we utilize them.", + "At July 31, 2008, we had total federal net operating loss carryforwards of approximately $95.0 million that will expire starting in fiscal 2019.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization.", + "At July 31, 2008, we had various state net operating loss and tax credit carryforwards for which we have recorded a deferred tax asset of $4.3 million.", + "The state net operating losses will expire starting in fiscal 2013.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization." + ], + "question_id": "simplong-test-96", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in accrued warranties and related costs from 2005 to 2006?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Note 8\u2014Commitments and Contingencies (Continued) The following table reconciles changes in the Company\u2019s accrued warranties and related costs (in millions):", + "||2007|2006|2005|\n|Beginning accrued warranty and related costs|$284|$188|$105|\n|Cost of warranty claims|-281|-267|-188|\n|Accruals for product warranties|227|363|271|\n|Ending accrued warranty and related costs|$230|$284|$188|\n", + "The Company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights.", + "Other agreements entered into by the Company sometimes include indemnification provisions under which the Company could be subject to costs and/or damages in the event of an infringement claim against the Company or an indemnified third-party.", + "However, the Company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and, in the opinion of management, does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results.", + "Therefore, the Company did not record a liability for infringement costs as of either September 29, 2007 or September 30, 2006.", + "Concentrations in the Available Sources of Supply of Materials and Product Certain key components including, but not limited to, microprocessors, enclosures, certain LCDs, certain optical drives, and application-specific integrated circuits (\u2018\u2018ASICs\u2019\u2019) are currently obtained by the Company from single or limited sources which subjects the Company to supply and pricing risks.", + "Many of these and other key components that are available from multiple sources including, but not limited to, NAND flash memory, DRAM memory, and certain LCDs, are at times subject to industry-wide shortages and significant commodity pricing fluctuations.", + "In addition, the Company has entered into certain agreements for the supply of critical components at favorable pricing, and there is no guarantee that the Company will be able to extend or renew these agreements when they expire.", + "Therefore, the Company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins.", + "In addition, the Company uses some components that are not common to the rest of the global personal computer, consumer electronics and mobile communication industries, and new products introduced by the Company often utilize custom components obtained from only one source until the Company has evaluated whether there is a need for and subsequently qualifies additional suppliers.", + "If the supply of a key single-sourced component to the Company were to be delayed or curtailed, or in the event a key manufacturing vendor delays shipments of completed products to the Company, the Company\u2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected.", + "The Company\u2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source, or to identify and obtain sufficient quantities from an alternative source.", + "Continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the Company\u2019s requirements.", + "Finally, significant portions of the Company\u2019s CPUs, iPods, iPhones, logic boards, and other assembled products are now manufactured by outsourcing partners, primarily in various parts of Asia.", + "A significant concentration of this outsourced manufacturing is currently performed by only a few of the Company\u2019s outsourcing partners, often in single locations.", + "Certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the Company\u2019s key products, including but not limited to, assembly", + "substances, including asbestos (i. e. A&E).", + "The Company\u2019s asbestos claims typically involve potential liability for bodily injury from exposure to asbestos or for property damage resulting from asbestos or products containing asbestos.", + "The Company\u2019s environmental claims typically involve potential liability for (a) the mitigation or remediation of environmental contamination or (b) bodily injury or property damages caused by the release of hazardous substances into the land, air or water.", + "As of December 31, 2006, roughly 7% of the Company\u2019s gross reserves are an estimate of the Company\u2019s ultimate liability for A&E claims.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "This estimate is made based on assessments of the underlying exposures as the result of (1) long and variable reporting delays, both from insureds to insurance companies and from ceding companies to reinsurers; (2) historical data, which is more limited and variable on A&E losses than historical information on other types of casualty claims; and (3) unique aspects of A&E exposures for which ultimate value cannot be estimated using traditional reserving techniques.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims.", + "Among the uncer\u0002tainties are: (a) potential passing of many years between exposure and manifestation of any bodily injury or property damage; (b) difficulty in identifying sources of asbestos or environmental contamination; (c) difficulty in properly allocating responsibil\u0002ity and/or liability for asbestos or environmental damage; (d) changes in underlying laws and judicial interpretation of those laws; (e) the potential for an asbestos or environmental claim to involve many insurance providers over many policy periods; (f) questions concerning interpretation and application of insurance and reinsurance coverage; and (g) uncertainty regarding the number and identity of insureds with potential asbestos or environmental exposure.", + "With respect to asbestos claims in particular, several additional factors have emerged in recent years that further compound the difficulty in estimating the Company\u2019s liability.", + "These developments include: (a) the significant growth over a short period of time in the number of claims filed, in part reflecting a much more aggressive plaintiff bar and including claims against defendants who may only have a \u201cperipheral\u201d connection to asbestos; (b) a disproportionate percentage of claims filed by individuals with no physical injury, which should have little to no financial value but which have increasingly been considered in jury verdicts and settlements; (c) the growth in the number and significance of bankruptcy filings by companies as a result of asbestos claims (including, more recently, bankruptcy filings in which companies attempt to resolve their asbestos liabili\u0002ties in a manner that is prejudicial to insurers and forecloses insurers from participating in the negotiation of asbestos related bankruptcy reorganization plans); (d) the concentration of claims in a small number of states that favor plaintiffs; (e) the growth in the number of claims that might impact the general liability portion of insurance policies rather than the product lia\u0002bility portion; (f) measures adopted by specific courts to ameliorate the worst procedural abuses; (g) an increase in settle\u0002ment values being paid to asbestos claimants, especially those with cancer or functional impairment; (h) legislation in some states to address asbestos litigation issues; and (i) the potential that other states or the U. S. Congress may adopt legislation on asbestos litigation.", + "Anecdotal evidence suggest that new claims filing rates have decreased, that new filings of asbestos\u0002driven bankruptcies have decreased and legislative reforms are beginning to diminish the potential ultimate liability for asbestos losses.", + "Management believes that these uncertainties and factors continue to render reserves for A&E and particularly asbestos losses significantly less subject to traditional actuarial analysis than reserves for other types of losses.", + "Given these uncertain\u0002ties, management believes that no meaningful range for such ultimate losses can be established, particularly for asbestos.", + "Further, A&E reserves may be subject to more variability than non-A&E reserves and such variation could have a material adverse effect on the Company\u2019s financial condition, results of operation and/or cash flow.", + "The Company establishes reserves to the extent that, in the judgment of management, the facts and prevailing law reflect an exposure for the Company or its ceding companies.", + "The following table summarizes incurred losses with respect to A&E on both a gross and net of retrocessional basis for the years indicated:", + "|(Dollars in thousands)|2006|2005|2004|\n|Gross basis:||||\n|Beginning of period reserves|$649,460|$728,325|$765,257|\n|Incurred losses|113,400|77,050|171,729|\n|Paid losses|-112,726|-155,915|-208,661|\n|End of period reserves|$650,134|$649,460|$728,325|\n|Net basis:||||\n|Beginning of period reserves|$450,350|$506,675|$534,369|\n|Incurred losses|106,595|81,351|159,422|\n|Paid losses|-45,533|-137,676|-187,116|\n|End of period reserves|$511,412|$450,350|$506,675|\n", + "The Company endeavors to actively engage with every insured account posing significant potential asbestos exposure to Mt.", + "McKinley.", + "Such engagement can take the form of pursuing a final settlement, negotiation, litigation, or the monitoring of claim activity under Settlement in Place (\u201cSIP\u201d) agreements.", + "SIP agreements generally condition an insurer\u2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer\u2019s payments.", + "The Company\u2019s Mt.", + "McKinley operation is currently managing seven SIP agreements, three of which were executed prior to the acquisition of Mt.", + "McKinley in 2000.", + "The Company\u2019s preference with respect to coverage settlements is to execute settlements that call for a fixed schedule of payments, because such settlements eliminate future uncertainty.", + "The Company has significantly enhanced its classification of insureds by exposure characteristics over time, as well as its analysis by insured for those it considers to be more exposed or active.", + "Those insureds identified as relatively less exposed or active are subject to less rigorous, but still active management, with an emphasis on monitoring those characteristics, which may indicate an increasing exposure or levels of activity.", + "The Company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders, including those that may not have reported significant A&E losses.", + "Everest Re\u2019s book of assumed A&E reinsurance is relatively concentrated within a limited number of contracts and for a limited period, from 1977 to 1984.", + "Because the book of business is relatively concentrated and the Company has been managing the A&E exposures for many years, its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities.", + "The Company\u2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies.", + "This level of familiarity enhances the quality of the Company\u2019s analysis of its exposure through those companies.", + "As a result, the Company believes that it can identify those claims on which it has unusual exposure, such as non-products asbestos claims, for concentrated attention.", + "However, in setting reserves for its reinsurance liabilities, the Company relies on claims data supplied, both formally and informally by its ceding companies and brokers.", + "This furnished information is not always timely or accurate and can impact the accuracy and timeliness of the Company\u2019s ultimate loss projections.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the periods indicated:", + "||Years Ended December 31,|\n|(Dollars in millions)|2010|2009|2008|\n|Case reserves reported by ceding companies|$135.4|$141.5|$161.0|\n|Additional case reserves established by the Company (assumed reinsurance)(1)|116.1|150.2|139.7|\n|Case reserves established by the Company (direct insurance)|38.9|63.0|133.8|\n|Incurred but not reported reserves|264.4|283.9|352.3|\n|Gross reserves|554.8|638.7|786.8|\n|Reinsurance receivable|-21.9|-25.6|-37.7|\n|Net reserves|$532.9|$613.1|$749.1|\n|______________||||\n", + "(1) Additional reserves are case specific reserves established by the Company in excess of those reported by the ceding company, based on the Company\u2019s assessment of the covered loss.", + "(Some amounts may not reconcile due to rounding. )", + "Additional losses, including those relating to latent injuries and other exposures, which are as yet unrecognized, the type or magnitude of which cannot be foreseen by either the Company or the industry, may emerge in the future.", + "Such future emergence could have material adverse effects on the Company\u2019s future financial condition, results of operations and cash flows.", + "Commission and brokerage increased by 5.9% to $184.4 million in 2012 compared to $174.0 million in 2011 reflecting higher contingent commissions in 2012.", + "Segment other underwriting expenses increased to $30.6 million in 2012 compared to $26.3 million for the same period in 2011.", + "The increases are primarily attributable to higher personnel benefit costs.", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2013/2012|2012/2011|\n|(Dollars in millions)|2013|2012|2011|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,268.7|$1,073.1|$975.6|$195.6|18.2%|$97.5|10.0%|\n|Net written premiums|1,086.2|852.1|820.5|234.1|27.5%|31.6|3.9%|\n|Premiums earned|$1,037.4|$852.4|$821.2|$185.0|21.7%|$31.3|3.8%|\n|Incurred losses and LAE|931.5|700.3|705.9|231.2|33.0%|-5.6|-0.8%|\n|Commission and brokerage|133.7|117.6|137.7|16.1|13.7%|-20.1|-14.6%|\n|Other underwriting expenses|119.3|103.0|89.5|16.3|15.8%|13.5|15.1%|\n|Underwriting gain (loss)|$-147.0|$-68.5|$-111.9|$-78.6|114.8%|$43.5|-38.8%|\n||||||Point Chg||Point Chg|\n|Loss ratio|89.8%|82.2%|86.0%||7.6||-3.8|\n|Commission and brokerage ratio|12.9%|13.8%|16.8%||-0.9||-3.0|\n|Other underwriting expense ratio|11.5%|12.0%|10.8%||-0.5||1.2|\n|Combined ratio|114.2%|108.0%|113.6%||6.2||-5.6|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 18.2% to $1,268.7 million in 2013 compared to $1,073.1 million in 2012.", + "This increase was primarily driven by California workers\u2019 compensation, crop and non\u0002standard auto business.", + "Net written premiums increased by 27.5% to $1,086.2 million in 2013 compared to $852.1 million in 2012.", + "The larger increase in net written premiums compared to gross written premiums is mainly due to less use of reinsurance, particularly on the crop business.", + "Premiums earned increased 21.7% to $1,037.4 million in 2013 compared to $852.4 million in 2012.", + "The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased by 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-97", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of U.S. credit card Loans and leases charged off of 2016, and Cash proceeds from new securitizations of Residential Mortgage Agency 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table VII Allowance for Credit Losses", + "|(Dollars in millions)|2016|2015|2014|2013|2012|\n|Allowance for loan and lease losses, January 1|$12,234|$14,419|$17,428|$24,179|$33,783|\n|Loans and leases charged off||||||\n|Residential mortgage|-403|-866|-855|-1,508|-3,276|\n|Home equity|-752|-975|-1,364|-2,258|-4,573|\n|U.S. credit card|-2,691|-2,738|-3,068|-4,004|-5,360|\n|Non-U.S. credit card|-238|-275|-357|-508|-835|\n|Direct/Indirect consumer|-392|-383|-456|-710|-1,258|\n|Other consumer|-232|-224|-268|-273|-274|\n|Total consumer charge-offs|-4,708|-5,461|-6,368|-9,261|-15,576|\n|U.S. commercial-1|-567|-536|-584|-774|-1,309|\n|Commercial real estate|-10|-30|-29|-251|-719|\n|Commercial lease financing|-30|-19|-10|-4|-32|\n|Non-U.S. commercial|-133|-59|-35|-79|-36|\n|Total commercial charge-offs|-740|-644|-658|-1,108|-2,096|\n|Total loans and leases charged off|-5,448|-6,105|-7,026|-10,369|-17,672|\n|Recoveries of loans and leases previously charged off||||||\n|Residential mortgage|272|393|969|424|165|\n|Home equity|347|339|457|455|331|\n|U.S. credit card|422|424|430|628|728|\n|Non-U.S. credit card|63|87|115|109|254|\n|Direct/Indirect consumer|258|271|287|365|495|\n|Other consumer|27|31|39|39|42|\n|Total consumer recoveries|1,389|1,545|2,297|2,020|2,015|\n|U.S. commercial-2|175|172|214|287|368|\n|Commercial real estate|41|35|112|102|335|\n|Commercial lease financing|9|10|19|29|38|\n|Non-U.S. commercial|13|5|1|34|8|\n|Total commercial recoveries|238|222|346|452|749|\n|Total recoveries of loans and leases previously charged off|1,627|1,767|2,643|2,472|2,764|\n|Net charge-offs|-3,821|-4,338|-4,383|-7,897|-14,908|\n|Write-offs of PCI loans|-340|-808|-810|-2,336|-2,820|\n|Provision for loan and lease losses|3,581|3,043|2,231|3,574|8,310|\n|Other-3|-174|-82|-47|-92|-186|\n|Allowance for loan and lease losses, December 31|11,480|12,234|14,419|17,428|24,179|\n|Less: Allowance included in assets of business held for sale-4|-243|\u2014|\u2014|\u2014|\u2014|\n|Total allowance for loan and lease losses, December 31|11,237|12,234|14,419|17,428|24,179|\n|Reserve for unfunded lending commitments, January 1|646|528|484|513|714|\n|Provision for unfunded lending commitments|16|118|44|-18|-141|\n|Other-3|100|\u2014|\u2014|-11|-60|\n|Reserve for unfunded lending commitments, December 31|762|646|528|484|513|\n|Allowance for credit losses, December 31|$11,999|$12,880|$14,947|$17,912|$24,692|\n", + "(1) Includes U. S. small business commercial charge-offs of $253 million, $282 million, $345 million, $457 million and $799 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(2) Includes U. S. small business commercial recoveries of $45 million, $57 million, $63 million, $98 million and $100 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(3) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications.", + "(4) Represents allowance for loan and lease losses related to the non-U.", + "S. credit card loan portfolio, which is included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "Valuation Adjustments on Derivatives The Corporation records credit risk valuation adjustments on derivatives in order to properly reflect the credit quality of the counterparties and its own credit quality.", + "The Corporation calculates valuation adjustments on derivatives based on a modeled expected exposure that incorporates current market risk factors.", + "The exposure also takes into consideration credit mitigants such as enforceable master netting agreements and collateral.", + "CDS spread data is used to estimate the default probabilities and severities that are applied to the exposures.", + "Where no observable credit default data is available for counterparties, the Corporation uses proxies and other market data to estimate default probabilities and severity.", + "Valuation adjustments on derivatives are affected by changes in market spreads, non-credit related market factors such as interest rate and currency changes that affect the expected exposure, and other factors like changes in collateral arrangements and partial payments.", + "Credit spreads and non-credit factors can move independently.", + "For example, for an interest rate swap, changes in interest rates may increase the expected exposure, which would increase the counterparty credit valuation adjustment (CVA).", + "Independently, counterparty credit spreads may tighten, which would result in an offsetting decrease to CVA.", + "The Corporation early adopted, retrospective to January 1, 2015, the provision of new accounting guidance issued in January 2016 that requires the Corporation to record unrealized DVA resulting from changes in the Corporation\u2019s own credit spreads on liabilities accounted for under the fair value option in accumulated OCI.", + "This new accounting guidance had no impact on the accounting for DVA on derivatives.", + "For additional information, see New Accounting Pronouncements in Note 1 \u2013 Summary of Significant Accounting Principles.", + "The Corporation enters into risk management activities to offset market driven exposures.", + "The Corporation often hedges the counterparty spread risk in CVA with CDS.", + "The Corporation hedges other market risks in both CVA and DVA primarily with currency and interest rate swaps.", + "In certain instances, the net-of-hedge amounts in the table below move in the same direction as the gross amount or may move in the opposite direction.", + "This movement is a consequence of the complex interaction of the risks being hedged resulting in limitations in the ability to perfectly hedge all of the market exposures at all times.", + "The table below presents CVA, DVA and FVA gains (losses) on derivatives, which are recorded in trading account profits, on a gross and net of hedge basis for 2016, 2015 and 2014.", + "CVA gains reduce the cumulative CVA thereby increasing the derivative assets balance.", + "DVA gains increase the cumulative DVA thereby decreasing the derivative liabilities balance.", + "CVA and DVA losses have the opposite impact.", + "FVA gains related to derivative assets reduce the cumulative FVA thereby increasing the derivative assets balance.", + "FVA gains related to derivative liabilities increase the cumulative FVA thereby decreasing the derivative liabilities balance.", + "||2016|2015|2014|\n|(Dollars in millions)|Gross|Net|Gross|Net|Gross|Net|\n|Derivative assets (CVA)(1)|$374|$214|$255|$227|$-22|$191|\n|Derivative assets/liabilities (FVA)(1)|186|102|16|16|-497|-497|\n|Derivative liabilities (DVA)(1)|24|-141|-18|-153|-28|-150|\n", + "(1) At December 31, 2016, 2015 and 2014, cumulative CVA reduced the derivative assets balance by $1.0 billion, $1.4 billion and $1.6 billion, cumulative FVA reduced the net derivatives balance by $296 million, $481 million and $497 million, and cumulative DVA reduced the derivative liabilities balance by $774 million, $750 million and $769 million, respectively", + "NOTE 6 Securitizations and Other Variable Interest Entities The Corporation utilizes VIEs in the ordinary course of business to support its own and its customers\u2019 financing and investing needs.", + "The Corporation routinely securitizes loans and debt securities using VIEs as a source of funding for the Corporation and as a means of transferring the economic risk of the loans or debt securities to third parties.", + "The assets are transferred into a trust or other securitization vehicle such that the assets are legally isolated from the creditors of the Corporation and are not available to satisfy its obligations.", + "These assets can only be used to settle obligations of the trust or other securitization vehicle.", + "The Corporation also administers, structures or invests in other VIEs including CDOs, investment vehicles and other entities.", + "For more information on the Corporation\u2019s utilization of VIEs, see Note 1 \u2013 Summary of Significant Accounting Principles.", + "The tables in this Note present the assets and liabilities of consolidated and unconsolidated VIEs at December 31, 2016 and 2015, in situations where the Corporation has continuing involvement with transferred assets or if the Corporation otherwise has a variable interest in the VIE.", + "The tables also present the Corporation\u2019s maximum loss exposure at December 31, 2016 and 2015, resulting from its involvement with consolidated VIEs and unconsolidated VIEs in which the Corporation holds a variable interest.", + "The Corporation\u2019s maximum loss exposure is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments, such as unfunded liquidity commitments and other contractual arrangements.", + "The Corporation\u2019s maximum loss exposure does not include losses previously recognized through write-downs of assets.", + "As a result of new accounting guidance, which was effective on January 1, 2016, the Corporation identified certain limited partnerships and similar entities that are now considered to be VIEs and are included in the unconsolidated VIE tables in this Note at December 31, 2016.", + "The Corporation had a maximum loss exposure of $6.1 billion related to these VIEs, which had total assets of $16.7 billion.", + "The Corporation invests in ABS issued by third-party VIEs with which it has no other form of involvement and enters into certain commercial lending arrangements that may also incorporate the use of VIEs to hold collateral.", + "These securities and loans are included in Note 3 \u2013 Securities or Note 4 \u2013 Outstanding Loans and Leases.", + "In addition, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities.", + "For additional information, see Note 11 \u2013 Long-term Debt.", + "The Corporation uses VIEs, such as common trust funds managed within Global Wealth & Investment Management (GWIM), to provide investment opportunities for clients.", + "These VIEs, which are generally not consolidated by the Corporation, as applicable, are not included in the tables in this Note.", + "Except as described below, the Corporation did not provide financial support to consolidated or unconsolidated VIEs during 2016 or 2015 that it was not previously contractually required to provide, nor does it intend to do so.", + "First-lien Mortgage Securitizations First-lien Mortgages As part of its mortgage banking activities, the Corporation securitizes a portion of the first-lien residential mortgage loans it originates or purchases from third parties, generally in the form of RMBS guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or Government National Mortgage Association (GNMA) primarily in the case of FHA-insured and U. S. Department of Veterans Affairs (VA)-guaranteed mortgage loans.", + "Securitization usually occurs in conjunction with or shortly after origination or purchase, and the Corporation may also securitize loans held in its residential mortgage portfolio.", + "In addition, the Corporation may, from time to time, securitize commercial mortgages it originates or purchases from other entities.", + "The Corporation typically services the loans it securitizes.", + "Further, the Corporation may retain beneficial interests in the securitization trusts including senior and subordinate securities and equity tranches issued by the trusts.", + "Except as described below and in Note 7 \u2013 Representations and Warranties Obligations and Corporate Guarantees, the Corporation does not provide guarantees or recourse to the securitization trusts other than standard representations and warranties.", + "The table below summarizes select information related to first\u0002lien mortgage securitizations for 2016, 2015 and 2014.", + "||Residential Mortgage|||\n||Agency|Non-agency - Subprime|Commercial Mortgage|\n|(Dollars in millions)|2016|2015|2014|2016|2015|2014|2016|2015|2014|\n|Cash proceeds from new securitizations-1|$24,201|$27,164|$36,905|$\u2014|$\u2014|$809|$3,887|$7,945|$5,710|\n|Gain on securitizations-2|370|894|371|\u2014|\u2014|49|38|49|68|\n|Repurchases from securitization trusts-3|3,611|3,716|5,155|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n", + "(1) The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds.", + "(2) A majority of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option.", + "Gains recognized on these LHFS prior to securitization, which totaled $487 million, $750 million and $715 million net of hedges, during 2016, 2015 and 2014, respectively are not included in the table above.", + "(3) The Corporation may have the option to repurchase delinquent loans out of securitization trusts, which reduces the amount of servicing advances it is required to make.", + "The Corporation may also repurchase loans from securitization trusts to perform modifications.", + "The majority of repurchased loans are FHA-insured mortgages collateralizing GNMA securities.", + "In addition to cash proceeds as reported in the table above, the Corporation received securities with an initial fair value of $4.2 billion, $22.3 billion and $5.4 billion in connection with first-lien mortgage securitizations in 2016, 2015 and 2014.", + "The receipt of these securities represents non-cash operating and investing activities and, accordingly, is not reflected on the Consolidated Statement of Cash Flows.", + "All of these securities were initially classified as Level 2 assets within the fair value hierarchy.", + "During 2016, 2015 and 2014 there were no changes to the initial classification.", + "The Corporation recognizes consumer MSRs from the sale or securitization of first-lien mortgage loans.", + "Servicing fee and ancillary fee income on consumer mortgage loans serviced, including securitizations where the Corporation has continuing", + "The following table shows the major categories of ongoing claims for which the Company has been able to estimate its probable liability and for which the Company has taken reserves and the related insurance receivables:" + ], + "question_id": "simplong-test-98", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in non-cash stock-based compensation expense from 2013 to 2014?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Note 11 \u2013 Stock-Based Compensation During 2014, 2013 and 2012, we recorded non-cash stock-based compensation expense totaling $164 million, $189 million and $167 million, which is included as a component of other unallocated, net on our Statements of Earnings.", + "The net impact to earnings for the respective years was $107 million, $122 million and $108 million.", + "As of December 31, 2014, we had $91 million of unrecognized compensation cost related to nonvested awards, which is expected to be recognized over a weighted average period of 1.6 years.", + "We received cash from the exercise of stock options totaling $308 million, $827 million and $440 million during 2014, 2013 and 2012.", + "In addition, our income tax liabilities for 2014, 2013 and 2012 were reduced by $215 million, $158 million, $96 million due to recognized tax benefits on stock-based compensation arrangements.", + "Stock-Based Compensation Plans Under plans approved by our stockholders, we are authorized to grant key employees stock-based incentive awards, including options to purchase common stock, stock appreciation rights, restricted stock units (RSUs), performance stock units (PSUs) or other stock units.", + "The exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant.", + "No award of stock options may become fully vested prior to the third anniversary of the grant and no portion of a stock option grant may become vested in less than one year.", + "The minimum vesting period for restricted stock or stock units payable in stock is three years.", + "Award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death, disability, divestiture, retirement, change of control or layoff.", + "The maximum term of a stock option or any other award is 10 years.", + "At December 31, 2014, inclusive of the shares reserved for outstanding stock options, RSUs and PSUs, we had 19 million shares reserved for issuance under the plans.", + "At December 31, 2014, 7.8 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans.", + "We issue new shares upon the exercise of stock options or when restrictions on RSUs and PSUs have been satisfied.", + "RSUs The following table summarizes activity related to nonvested RSUs during 2014:", + "||Number of RSUs (In thousands)|Weighted Average Grant-Date Fair Value PerShare|\n|Nonvested at December 31, 2011|4,302|$ 78.25|\n|Granted|1,987|81.93|\n|Vested|-1,299|80.64|\n|Forfeited|-168|79.03|\n|Nonvested at December 31, 2012|4,822|$ 79.10|\n|Granted|1,356|89.24|\n|Vested|-2,093|79.26|\n|Forfeited|-226|81.74|\n|Nonvested at December 31, 2013|3,859|$ 82.42|\n|Granted|745|146.85|\n|Vested|-2,194|87.66|\n|Forfeited|-84|91.11|\n|Nonvested at December 31, 2014|2,326|$ 97.80|\n", + "RSUs are valued based on the fair value of our common stock on the date of grant.", + "Employees who are granted RSUs receive the right to receive shares of stock after completion of the vesting period; however, the shares are not issued and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the RSUs vest, generally three years from the date of the award.", + "Employees who are granted RSUs receive dividend-equivalent cash payments only upon vesting.", + "For these RSU awards, the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments.", + "We recognize the grant-date fair value of RSUs, less estimated forfeitures, as compensation expense ratably over the requisite service period, which beginning with the RSUs granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period.", + "ITEM 6 SELECTED FINANCIAL DATA The following table summarizes certain selected consolidated financial data for, and as of the end of, each of the fiscal years in the five-year period ended June 30, 2009.", + "The data set forth below should be read in conjunction with the Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements and related Notes included elsewhere in this Report.", + "The consolidated statements of operations data for the years ended June 30, 2009, 2008 and 2007 and the balance sheet data as of June 30, 2009 and 2008 are derived from our audited consolidated financial statements included elsewhere in this Report.", + "The consolidated statements of operations data for the years ended June 30, 2006 and 2005 and the balance sheet data as of June 30, 2007, 2006 and 2005 are derived from our audited consolidated financial statements not included herein.", + "Historical results are not necessarily indicative of the results to be expected in the future, and the results for the years presented should not be considered indicative of our future results of operations.", + "| Consolidated Statement of Income Data:|Years Ended June 30|\n| (In thousands, except per share data)|2009|2008|2007|2006|2005|\n|Net revenues|$920,735|$835,397|$716,332|$606,996|$425,505|\n|Cost of sales|366,933|338,544|272,140|230,101|150,645|\n|Product recall expenses|-|3,103|59,700|-|-|\n|Gross profit|553,802|493,750|384,492|376,895|274,860|\n|Selling, general and administrative expenses|289,875|278,087|237,326|200,168|135,703|\n|Research and development expenses|63,056|60,524|50,106|37,216|30,014|\n|Donations to research foundations|3,500|2,000|-|760|500|\n|In-process research and development charge|-|-|-|-|5,268|\n|Amortization of acquired intangible assets|7,060|7,791|6,897|6,327|870|\n|Restructuring expenses|-|2,378|-|1,124|5,152|\n|Total operating expenses|363,491|350,780|294,329|245,595|177,507|\n|Income from operations|190,311|142,970|90,163|131,300|97,353|\n|Other income (expenses):||||||\n|Interest income (expense), net|10,205|10,058|6,477|1,320|-808|\n|Other, net|1,168|4,827|1,333|774|81|\n|Total other income (expenses)|11,373|14,885|7,810|2,094|-727|\n|Income before income taxes|201,684|157,855|97,973|133,394|96,626|\n|Income taxes|-55,236|-47,552|-31,671|-45,183|-31,841|\n|Net income|$146,448|$110,303|$66,302|$88,211|$64,785|\n|Basic earnings per share|$1.94|$1.43|$0.86|$1.22|$0.94|\n|Diluted earnings per share|$1.90|$1.40|$0.85|$1.16|$0.91|\n|Weighted average:||||||\n|Basic shares outstanding|75,629|77,378|76,709|72,307|68,643|\n|Diluted shares outstanding|77,113|78,712|78,253|77,162|74,942|\n", + "The results of our international operations are affected by changes in exchange rates between currencies.", + "Changes in exchange rates may negatively affect our consolidated net revenue and gross profit margins from international operations.", + "We are exposed to the risk that the dollar value equivalent of anticipated cash flows would be adversely affected by changes in foreign currency exchange rates.", + "We manage this risk through foreign currency option contracts.", + "Stock-Based Compensation Costs We have granted stock options to personnel, including officers and directors, under our 2006 Incentive Award Plan, as amended (the \u201c2006 Plan\u201d).", + "These options have expiration dates of seven years from the date of grant and vest over four years.", + "We granted these options with the exercise price equal to the market value as determined at the date of grant.", + "We have also offered to our personnel, including officers and directors, the right to purchase shares of our common stock at a discount under our employee stock purchase plan (\u201cESPP\u201d).", + "As of July 1, 2005, we adopted SFAS 123(R) using the modified prospective method, which requires measurement of compensation expense of all stock-based awards at fair value on the date of grant and recognition of compensation expense over the service period for awards expected to vest.", + "Under this method, the provisions of SFAS 123(R) apply to all awards granted or modified after the date of adoption.", + "In addition, the unrecognized expense of awards not yet vested at the date of adoption, determined under the original provisions of SFAS No.123 shall be recognized in net income in the periods after adoption.", + "The fair value of stock options is determined using the Black-Scholes valuation model.", + "Such value is recognized as expense over the service period, using the graded\u0002attribution method for stock-based awards granted prior to July 1, 2005 and the straight-line method for stock-based awards granted after July 1, 2005.", + "The fair value of stock options granted under our stock option plans and purchase rights granted under our ESPP is estimated on the date of the grant using the Black-Scholes option-pricing model, assuming no dividends and the following assumptions:", + "|| Years ended June 30|\n||2009| 2008| 2007|\n|Stock Options:||||\n|Weighted average grant date fair value|$10.58|$12.87|$14.53|\n|Weighted average risk-free interest rate|1.9%|2.6-4.6%|4.3-5.1%|\n|Dividend yield|-|-|-|\n|Expected option life in years|4.0-4.8|4.0-4.8|4.0-5.2|\n|Volatility|27-38%|27-28%|26-30%|\n|ESPP Purchase rights:||||\n|Weighted average risk-free interest rate|1.3%|1.7-5.0%|4.9-5.1%|\n|Dividend yield|-|-|-|\n|Expected option life|6 months|6 months|6 months|\n|Volatility|33-55%|23-33%|30-41%|\n", + "Expected volatilities are based on a combination of historical volatilities of our stock and the implied volatilities from tradeable options of our stock corresponding to their expected term.", + "We use a combination of the historic and implied volatilities as the additional use of the implied volatilities are more representative of our future stock price trends.", + "The expected life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and our historical exercise patterns.", + "The risk-free rate is based on the U. S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option." + ], + "question_id": "simplong-test-99", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Income taxes in 2008 and Municipal investments for LoanCommitments? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Citigroup\u2019s repurchases are primarily from Government Sponsored Entities.", + "The specific representations and warranties made by the Company depend on the nature of the transaction and the requirements of the buyer.", + "Market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the Company may agree to in loan sales.", + "In the event of a breach of the representations and warranties, the Company may be required to either repurchase the mortgage loans (generally at unpaid principal balance plus accrued interest) with the identified defects or indemnify (\u201cmake-whole\u201d) the investor or insurer.", + "The Company has recorded a repurchase reserve that is included in Other liabilities in the Consolidated Balance Sheet.", + "In the case of a repurchase, the Company will bear any subsequent credit loss on the mortgage loans.", + "The Company\u2019s representations and warranties are generally not subject to stated limits in amount or time of coverage.", + "However, contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach.", + "In the case of a repurchase, the loan is typically considered a credit\u0002impaired loan and accounted for under SOP 03-3, \u201cAccounting for Certain Loans and Debt Securities, Acquired in a Transfer\u201d (now incorporated into ASC 310-30, Receivables\u2014Loans and Debt Securities Acquired with Deteriorated Credit Quality).", + "These repurchases have not had a material impact on nonperforming loan statistics, because credit-impaired purchased SOP 03-3 loans are not included in nonaccrual loans.", + "The Company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole.", + "This estimate is calculated separately by sales vintage (i. e. , the year the loans were sold) based on a combination of historical trends and forecasted repurchases and losses considering the: (1) trends in requests by investors for loan documentation packages to be reviewed; (2) trends in recent repurchases and make-wholes; (3) historical percentage of claims made as a percentage of loan documentation package requests; (4) success rate in appealing claims; (5) inventory of unresolved claims; and (6) estimated loss given repurchase or make-whole, including the loss of principal, accrued interest, and foreclosure costs.", + "The Company does not change its estimation methodology by counterparty, but the historical experience and trends are considered when evaluating the overall reserve.", + "The request for loan documentation packages is an early indicator of a potential claim.", + "During 2009, loan documentation package requests and the level of outstanding claims increased.", + "In addition, our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience.", + "These factors contributed to a $493 million change in estimate for this reserve in 2009.", + "As indicated above, the repurchase reserve is calculated by sales vintage.", + "The majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages, which also represent the vintages with the largest loss\u0002given-repurchase.", + "An insignificant percentage of 2009 repurchases were from vintages prior to 2006, and this is expected to decrease, because those vintages are later in the credit cycle.", + "Although early in the credit cycle, the Company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages.", + "In the case of a repurchase of a credit-impaired SOP 03-3 loan (now incorporated into ASC 310-30), the difference between the loan\u2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve.", + "Payments to make the investor whole are also treated as utilizations and charged directly against the reserve.", + "The provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale, which is included in Other revenue in the Consolidated Statement of Income.", + "A liability for representations and warranties is estimated when the Company sells loans and is updated quarterly.", + "Any subsequent adjustment to the provision is recorded in Other revenue in the Consolidated Statement of Income.", + "The activity in the repurchase reserve for the years ended December 31, 2009 and 2008 is as follows:", + "|In millions of dollars|2009|2008|\n|Balance, beginning of the year|$75|$2|\n|Additions for new sales|33|23|\n|Change in estimate|493|59|\n|Utilizations|-119|-9|\n|Balance, end of the year|$482|$75|\n", + "Goodwill Goodwill represents an acquired company\u2019s acquisition cost over the fair value of net tangible and intangible assets acquired.", + "Goodwill is subject to annual impairment tests, whereby Goodwill is allocated to the Company\u2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value.", + "Furthermore, on any business dispositions, Goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit.", + "Intangible Assets Intangible assets\u2014including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs\u2014are amortized over their estimated useful lives.", + "Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests.", + "An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value.", + "For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.", + "Other Assets and Other Liabilities Other assets include, among other items, loans held-for-sale, deferred tax assets, equity-method investments, interest and fees receivable, premises and equipment, end-user derivatives in a net receivable position, repossessed assets, and other receivables.", + "This table does not include: ?", + "certain venture capital investments made by some of the Company\u2019s private equity subsidiaries, as the Company accounts for these investments in accordance with the Investment Company Audit Guide; ?", + "certain limited partnerships where the Company is the general partner and the limited partners have the right to replace the general partner or liquidate the funds; ?", + "certain investment funds for which the Company provides investment management services and personal estate trusts for which the Company provides administrative, trustee and/or investment management services; ?", + "VIEs structured by third parties where the Company holds securities in inventory.", + "These investments are made on arm\u2019s-length terms; and ?", + "transferred assets to a VIE where the transfer did not qualify as a sale and where the Company did not have any other involvement that is deemed to be a variable interest with the VIE.", + "These transfers are accounted for as secured borrowings by the Company.", + "The asset balances for consolidated VIEs represent the carrying amounts of the assets consolidated by the Company.", + "The carrying amount may represent the amortized cost or the current fair value of the assets depending on the legal form of the asset (e. g. , security or loan) and the Company\u2019s standard accounting policies for the asset type and line of business.", + "he asset balances for unconsolidated VIEs where the Company has significant involvement represent the most current information available to the Company.", + "In most cases, the asset balances represent an amortized cost basis without regard to impairments in fair value, unless fair value information is readily available to the Company.", + "For VIEs that obtain asset exposures synthetically through derivative instruments (for example, synthetic CDOs), the table includes the full original notional amount of the derivative as an asset.", + "The maximum funded exposure represents the balance sheet carrying amount of the Company\u2019s investment in the VIE.", + "It reflects the initial amount of cash invested in the VIE plus any accrued interest and is adjusted for any impairments in value recognized in earnings and any cash principal payments received.", + "The maximum exposure of unfunded positions represents the remaining undrawn committed amount, including liquidity and credit facilities provided by the Company, or the notional amount of a derivative instrument considered to be a variable interest, adjusted for any declines in fair value recognized in earnings.", + "In certain transactions, the Company has entered into derivative instruments or other arrangements that are not considered variable interests in the VIE (e. g. , interest rate swaps, cross\u0002currency swaps, or where the Company is the purchaser of credit protection under a credit default swap or total return swap where the Company pays the total return on certain assets to the SPE).", + "Receivables under such arrangements are not included in the maximum exposure amounts.", + "Funding Commitments for Significant Unconsolidated VIEs\u2014 Liquidity Facilities and Loan Commitments The following table presents the notional amount of liquidity facilities and loan commitments that are classified as funding commitments in the SPE table as of December 31, 2009:", + "|In millions of dollars|Liquidity Facilities|LoanCommitments|\n|Citicorp|||\n|Citi-administered asset-backed commercial paper conduits (ABCP)|$20,486|$1,718|\n|Third-party commercial paper conduits|353|\u2014|\n|Asset-based financing|\u2014|549|\n|Municipal securities tender option bond trusts (TOBs)|6,304|\u2014|\n|Municipal investments|\u2014|18|\n|Other|10|23|\n|Total Citicorp|$27,153|$2,308|\n|Citi Holdings|||\n|Citi-administered asset-backed commercial paper conduits (ABCP)|$11,978|$1,682|\n|Third-party commercial paper conduits|252|\u2014|\n|Collateralized loan obligations (CLOs)|\u2014|19|\n|Asset-based financing|\u2014|1,311|\n|Municipal investments|\u2014|386|\n|Investment Funds|\u2014|93|\n|Other|\u2014|257|\n|Total CitiHoldings|$12,230|$3,748|\n|Total Citigroup funding commitments|$39,383|$6,056|\n", + "TRANSACTION SERVICES Transaction Services is composed of Treasury and Trade Solutions (TTS) and Securities and Fund Services (SFS).", + "TTS provides comprehensive cash management and trade finance for corporations, financial institutions and public sector entities worldwide.", + "SFS provides custody and funds services to investors such as insurance companies and mutual funds, clearing services to intermediaries such as broker-dealers, and depository and agency/trust services to multinational corporations and governments globally.", + "Revenue is generated from net interest revenue on deposits in TTS and SFS, as well as trade loans and from fees for transaction processing and fees on assets under custody in SFS.", + "|In millions of dollars|2009|2008|2007|% Change 2009 vs. 2008|% Change 2008 vs. 2007|\n|Net interest revenue|$5,651|$5,485|$4,254|3%|29%|\n|Non-interest revenue|4,138|4,461|3,844|-7|16|\n|Total revenues, net of interest expense|$9,789|$9,946|$8,098|-2%|23%|\n|Total operating expenses|4,515|5,156|4,634|-12|11|\n|Provisions for credit losses and for benefits and claims|7|35|-30|-80|NM|\n|Income before taxes and noncontrolling interests|$5,267|$4,755|$3,494|11%|36%|\n|Income taxes|1,531|1,402|1,038|9|35|\n|Income from continuing operations|3,736|3,353|2,456|11|37|\n|Net income attributable to noncontrolling interests|13|31|20|-58|55|\n|Net income|$3,723|$3,322|$2,436|12%|36%|\n|Average assets(in billions of dollars)|$60|$71|$69|-15%|3%|\n|Return on assets|6.21%|4.68%|3.53%|||\n|Revenues by region||||||\n|North America|$2,526|$2,161|$1,646|17%|31%|\n|EMEA|3,389|3,677|2,999|-8|23|\n|Latin America|1,373|1,439|1,199|-5|20|\n|Asia|2,501|2,669|2,254|-6|18|\n|Total revenues|$9,789|$9,946|$8,098|-2%|23%|\n|Income from continuing operations by region||||||\n|North America|$615|$323|$209|90%|55%|\n|EMEA|1,287|1,246|816|3|53|\n|Latin America|604|588|463|3|27|\n|Asia|1,230|1,196|968|3|24|\n|Total net income from continuing operations|$3,736|$3,353|$2,456|11%|37%|\n|Key indicators(in billions of dollars)||||||\n|Average deposits and other customer liability balances|$303|$280|$246|8%|14%|\n|EOP assets under custody(in trillions of dollars)|12.1|11.0|13.1|10|-16|\n", + "2009 vs. 2008 Revenues, net of interest expense declined 2% compared to 2008 as strong growth in balances was more than offset by lower spreads driven by low interest rates globally.", + "Average deposits and other customer liability balances grew 8%, driven by strong growth in all regions.", + "Treasury and Trade Solutions revenues grew 7% as a result of strong growth in balances and higher trade revenues.", + "Securities and Funds Services revenues declined 18%, attributable to reductions in asset valuations and volumes.", + "Operating expenses declined 12%, mainly as a result of headcount reductions and successful execution of reengineering initiatives.", + "Cost of credit declined 80%, which was primarily attributable to overall portfolio management.", + "Net income increased 12%, leading to a record net income, with growth across all regions reflecting benefits of continued re-engineering and expense management efforts.2008 vs. 2007 Revenues, net of interest expense grew 23% driven by new business and implementations, growth in customer liability balances, increased transaction volumes and the impact of acquisitions.", + "Average deposits and other customer liability balances grew 14% driven by success of new business growth and implementations.", + "Treasury and Trade Solutions revenues grew 26% as a result of strong liability and fee growth as well as increased client penetration.", + "Securities and Funds Services revenues grew 17% as a result of increased assets under custody, volumes and liability balances.2010 Outlook Transaction Services business performance will continue to be impacted in 2010 by levels of interest rates, economic activity, volatility in global capital markets, foreign exchange and market valuations globally.", + "Levels of client activity and client cash and security flows are key factors dependent on macroeconomic conditions.", + "Transaction Services intends to continue to invest in technology to support its global network, as well as investments to build out its investor services suite of products aimed at large, under\u0002penetrated markets for middle and back office outsourcing among a range of investors.", + "These and similar investments could lead to increasing operating expenses.", + "BROKERAGE AND ASSET MANAGEMENT Brokerage and Asset Management (BAM), which constituted approximately 6% of Citi Holdings by assets as of December 31, 2009, consists of Citi\u2019s global retail brokerage and asset management businesses.", + "This segment was substantially affected and reduced in size in 2009 due to the divestitures of Smith Barney (to the Morgan Stanley Smith Barney joint venture (MSSB JV)) and Nikko Cordial Securities.", + "At December 31, 2009, BAM had approximately $35 billion of assets, which included $26 billion of assets from the 49% interest in the MSSB JV ($13 billion investment and $13 billion in loans associated with the clients of the MSSB JV) and $9 billion of assets from a diverse set of asset management and insurance businesses of which approximately half will be transferred into the LATAM RCB during the first quarter of 2010, as discussed under \u201cCiti Holdings\u201d above.", + "Morgan Stanley has options to purchase Citi\u2019s remaining stake in the MSSB JV over three years starting in 2012.", + "The 2009 results include an $11.1 billion gain ($6.7 billion after-tax) on the sale of Smith Barney." + ], + "question_id": "simplong-test-100", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "as of dec 31 , 2015 , what percentage of total indebtedness was nonsecure?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ended December 31, 2015 and 2014, respectively.", + "The increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement.", + "For a description of the inventory financing transactions impacting each period, see Note 6 (Inventory Financing Agreements) to the accompanying Consolidated Financial Statements.", + "For a description of the debt transactions impacting each period, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "Net cash used in financing activities decreased $56.3 million in 2014 compared to 2013.", + "The decrease was primarily driven by several debt refinancing transactions during each period and our July 2013 IPO, which generated net proceeds of $424.7 million after deducting underwriting discounts, expenses and transaction costs.", + "The net impact of our debt transactions resulted in cash outflows of $145.9 million and $518.3 million during 2014 and 2013, respectively, as cash was used in each period to reduce our total long-term debt.", + "For a description of the debt transactions impacting each period, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "Long-Term Debt and Financing Arrangements As of December 31, 2015, we had total indebtedness of $3.3 billion, of which $1.6 billion was secured indebtedness.", + "At December 31, 2015, we were in compliance with the covenants under our various credit agreements and indentures.", + "The amount of CDW\u2019s restricted payment capacity under the Senior Secured Term Loan Facility was $679.7 million at December 31, 2015.", + "For further details regarding our debt and each of the transactions described below, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "During the year ended December 31, 2015, the following events occurred with respect to our debt structure: ?", + "On August 1, 2015, we consolidated Kelway\u2019s Term Loan and Kelway\u2019s Revolving Credit Facility.", + "Kelway\u2019s Term Loan is denominated in British Pounds.", + "The Kelway Revolving Credit Facility is a multi-currency revolving credit facility under which Kelway is permitted to borrow an aggregate amount of \uffe150.0 million ($73.7 million) as of December 31, 2015. ?", + "On March 3, 2015, we completed the issuance of $525.0 million principal amount of 5.0% Senior Notes due 2023 which will mature on September 1, 2023. ?", + "On March 3, 2015, we redeemed the remaining $503.9 million aggregate principal amount of the 8.5% Senior Notes due 2019, plus accrued and unpaid interest through the date of redemption, April 2, 2015.", + "Inventory Financing Agreements We have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions.", + "These amounts are classified separately as accounts payable-inventory financing on the Consolidated Balance Sheets.", + "We do not incur any interest expense associated with these agreements as balances are paid when they are due.", + "For further details, see Note 6 (Inventory Financing Agreements) to the accompanying Consolidated Financial Statements.", + "Contractual Obligations We have future obligations under various contracts relating to debt and interest payments, operating leases and asset retirement obligations.", + "Our estimated future payments, based on undiscounted amounts, under contractual obligations that existed as of December 31, 2015, are as follows:", + "||Payments Due by Period|\n|(in millions)|Total|< 1 year|1-3 years|4-5 years|> 5 years|\n|Term Loan-1|$1,703.4|$63.9|$126.3|$1,513.2|$\u2014|\n|Kelway Term Loan-1|90.9|13.5|77.4|\u2014|\u2014|\n|Senior Notes due 2022-2|852.0|36.0|72.0|72.0|672.0|\n|Senior Notes due 2023-2|735.1|26.3|52.5|52.5|603.8|\n|Senior Notes due 2024-2|859.7|31.6|63.3|63.3|701.5|\n|Operating leases-3|143.2|22.5|41.7|37.1|41.9|\n|Asset retirement obligations-4|1.8|0.8|0.5|0.3|0.2|\n|Total|$4,386.1|$194.6|$433.7|$1,738.4|$2,019.4|\n", + "ES TO CONSOLIDATED FINANCIAL STATEMENTS 90 Selected Segment Financial Information Information regarding the Company\u2019s segments for the years ended December 31, 2015, 2014 and 2013 is as follows:", + "|(in millions)|Corporate|Public|Other|Headquarters|Total|\n|2015:||||||\n|Net sales|$6,816.4|$5,125.5|$1,046.8|$\u2014|$12,988.7|\n|Income (loss) from operations|470.1|343.3|43.1|-114.5|742.0|\n|Depreciation and amortization expense|-96.0|-43.7|-24.4|-63.3|-227.4|\n|2014:||||||\n|Net sales|$6,475.5|$4,879.4|$719.6|$\u2014|$12,074.5|\n|Income (loss) from operations|439.8|313.2|32.9|-112.9|673.0|\n|Depreciation and amortization expense|-96.3|-43.8|-8.8|-59.0|-207.9|\n|2013:||||||\n|Net sales|$5,960.1|$4,164.5|$644.0|$\u2014|$10,768.6|\n|Income (loss) from operations(1)|363.3|246.5|27.2|-128.4|508.6|\n|Depreciation and amortization expense|-97.3|-44.0|-8.6|-58.3|-208.2|\n", + "(1) Includes $75.0 million of IPO- and secondary-offering related expenses, as follows: Corporate $26.4 million; Public $14.4 million; Other $3.6 million; and Headquarters $30.6 million.", + "For additional information relating to the IPO- and secondary-offering, see Note 10 (Stockholders\u2019 Equity).", + "Geographic Areas and Revenue Mix The Company does not have Net sales to customers outside of the U. S. exceeding 10% of the Company\u2019s total Net sales in 2015, 2014 and 2013.", + "The Company does not have long-lived assets located outside of the U. S. exceeding 10% of the Company\u2019s total long-lived assets as of December 31, 2015 and 2014, respectively.", + "The following table presents net sales by major category for the years ended December 31, 2015, 2014 and 2013.", + "Categories are based upon internal classifications.", + "Amounts for the years ended December 31, 2014 and 2013 have been reclassified for certain changes in individual product classifications to conform to the presentation for the year ended December 31, 2015.", + "||Year EndedDecember 31, 2015|Year EndedDecember 31, 2014|Year EndedDecember 31, 2013|\n||Dollars inMillions|Percentageof Total NetSales|Dollars inMillions|Percentageof Total NetSales|Dollars inMillions|Percentageof Total NetSales|\n|Notebooks/Mobile Devices|$2,539.4|19.6%|$2,354.0|19.5%|$1,696.5|15.8%|\n|Netcomm Products|1,914.9|14.7|1,613.3|13.4|1,482.7|13.8|\n|Enterprise and Data Storage (Including Drives)|1,065.2|8.2|1,024.2|8.5|999.3|9.3|\n|Other Hardware|4,756.4|36.6|4,551.1|37.6|4,184.1|38.8|\n|Software|2,163.6|16.7|2,064.1|17.1|1,982.4|18.4|\n|Services|478.0|3.7|371.9|3.1|332.7|3.1|\n|Other-1|71.2|0.5|95.9|0.8|90.9|0.8|\n|Total Net sales|$12,988.7|100.0%|$12,074.5|100.0%|$10,768.6|100.0%|\n", + "(1) Includes items such as delivery charges to customers and certain commission revenue.17.", + "Supplemental Guarantor Information The 2022 Senior Notes, the 2023 Senior Notes and the 2024 Senior Notes are, and, prior to being redeemed in full, the 2019 Senior Notes, the 12.535% Senior Subordinated Exchange Notes due 2017, and the 8.0% Senior Secured Notes due 2018 were guaranteed by Parent and each of CDW LLC\u2019s direct and indirect, 100% owned, domestic subsidiaries", + "PART II Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Our common stock has been listed on the Nasdaq Global Select Market since June 27, 2013 under the symbol \u201cCDW.", + "\u201d The following table sets forth the ranges of high and low sales prices per share of our common stock as reported on the Nasdaq Global Select Market and the cash dividends per share of common stock declared for the two most recent fiscal years." + ], + "question_id": "simplong-test-101", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the average rental expense in millions for 2000 through 2002?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The contracts were valued as of April 1, 2002, and an asset and a corresponding gain of $127 million, net of income taxes, was recorded as a cumulative effect of a change in accounting principle in the second quarter of 2002.", + "The majority of the gain recorded relates to the Warrior Run contract, as the asset value of the Deepwater contract on April 1, 2002, was less than $1 million.", + "The Warrior Run contract qualifies and was designated as a cash flow hedge as defined by SFAS No.133 and hedge accounting is applied for this contract subsequent to April 1, 2002.", + "The contract valuations were performed using current forward electricity and gas price quotes and current market data for other contract variables.", + "The forward curves used to value the contracts include certain assumptions, including projections of future electricity and gas prices in periods where future prices are not quoted.", + "Fluctuations in market prices and their impact on the assumptions will cause the value of these contracts to change.", + "Such fluctuations will increase the volatility of the Company\u2019s reported results of operations.11.", + "COMMITMENTS, CONTINGENCIES AND RISKS OPERATING LEASES\u2014As of December 31, 2002, the Company was obligated under long-term non-cancelable operating leases, primarily for office rental and site leases.", + "Rental expense for operating leases, excluding amounts related to the sale/leaseback discussed below, was $31 million $32 million and $13 million in the years ended December 31, 2002, 2001and 2000, respectively, including commitments of businesses classified as discontinued amounting to $6 million in 2002, $16 million in 2001 and $6 million in 2000.", + "The future minimum lease commitments under these leases are as follows (in millions):", + "||Total|Discontinued Operations|\n|2003|$30|$4|\n|2004|20|4|\n|2005|15|3|\n|2006|11|1|\n|2007|9|1|\n|Thereafter|84|1|\n|Total|$169|$14|\n", + "SALE/LEASEBACK\u2014In May 1999, a subsidiary of the Company acquired six electric generating stations from New York State Electric and Gas (\u2018\u2018NYSEG\u2019\u2019).", + "Concurrently, the subsidiary sold two of the plants to an unrelated third party for $666 million and simultaneously entered into a leasing arrangement with the unrelated party.", + "This transaction has been accounted for as a sale/leaseback with operating lease treatment.", + "Rental expense was $54 million, $58 million and $54 million in 2002, 2001 and 2000, respectively.", + "Future minimum lease commitments are as follows (in millions): In connection with the lease of the two power plants, the subsidiary is required to maintain a rent reserve account equal to the maximum semi-annual payment with respect to the sum of the basic rent (other then deferrable basic rent) and fixed charges expected to become due in the immediately succeeding three-year period.", + "At December 31, 2002, 2001 and 2000, the amount deposited in the rent reserve account approximated", + "The estimated fair values of the Company\u2019s debt and derivative financial instruments as of December 31, 2002 and 2001 are as follows (in millions):", + "| | December 31, 2002| December 31, 2001|\n| | Carrying Amount| Fair Value| Carrying Amount| Fair Value|\n|Assets:|||||\n|Foreign currency forwards and swaps, net|$17|$17|$14|$14|\n|Energy derivatives, net|201|201|7|7|\n| Liabilities:|||||\n|Non-recourse debt|17,658|20,447|16,857|17,064|\n|Recourse debt|5,804|3,895|5,401|4,730|\n|Tecons|978|284|978|626|\n|Interest rate swaps|557|557|166|166|\n|Interest rate caps and floors, net|115|115|72|72|\n", + "Amounts in the table above include the carrying amount and fair value of financial instruments of discontinued operations and assets held for sale, except for preferred stock with mandatory redemption of one of our discontinued operations that has a carrying amount of $22 million.", + "As of December 31, 2002, discontinued operations and assets held for sale had non-recourse debt with a carrying amount and fair value of $3,415 million and $4,994 million, respectively, foreign currency forwards and swaps, net (assets), with a carrying amount and fair value of $13 million, interest rate swaps (liabilities) with a carrying amount and fair value of $103 million and interest rate caps and floors, net (liabilities), with a carrying amount and fair value of $43 million.", + "The fair value estimates presented herein are based on pertinent information as of December 31, 2002 and 2001.", + "The Company is not aware of any factors that would significantly affect the estimated fair value amounts since December 31, 2002.21.", + "NEW ACCOUNTING PRONOUNCEMENTS Asset retirement obligations.", + "In June 2001, the Financial Accounting Standards Board issued SFAS No.143, \u2018\u2018Accounting for Asset Retirement Obligations.", + "\u2019\u2019 SFAS No.143, which is effective January 1, 2003, requires entities to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred.", + "When a new liability is recorded beginning in 2003, the entity will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset.", + "The liability is accreted to its present value each period, and the capitalized cost is depreciated over the useful life of the related asset.", + "Upon settlement of the liability, an entity settles the obligation for its recorded amount or incurs a gain or loss upon settlement.", + "The Company will adopt SFAS No.143 effective January 1, 2003.", + "The Company has completed a detailed assessment of the specific applicability and implications of SFAS No.143.", + "The scope of SFAS No.143 includes primarily active ash landfills, water treatment basins and the removal or dismantlement of certain plant and equipment.", + "As of December 31, 2002, the Company had a recorded liability of approximately $15 million related to asset retirement obligations.", + "Upon adoption of SFAS No.143, the Company will record an additional liability of approximately $13 million, a net asset of approximately $9 million, and a cumulative effect of a change in accounting principle of approximately $2 million, after income taxes.", + "Proforma net (loss) income and (loss) earnings per share have not been presented for the years ended December 31, 2002, 2001 and 2000 because the proforma application of SFAS No.143 to prior periods would result in proforma net (loss) income and (loss) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations.", + "Review of Consolidated Results of Operations", + "||Years Ended December 31,|||\n|Results of operations|2014|2013|2012|% change 2014 vs. 2013|% change 2013 vs. 2012|\n||(in millions, except per share amounts)|||\n|Revenue:|||\n|US SBU|$3,826|$3,630|$3,736|5%|-3%|\n|Andes SBU|2,642|2,639|3,020|\u2014%|-13%|\n|Brazil SBU|6,009|5,015|5,788|20%|-13%|\n|MCAC SBU|2,682|2,713|2,573|-1%|5%|\n|Europe SBU|1,439|1,347|1,344|7%|\u2014%|\n|Asia SBU|558|550|733|1%|-25%|\n|Corporate and Other|15|7|9|114%|-22%|\n|Intersegment eliminations|-25|-10|-39|-150%|74%|\n|Total Revenue|17,146|15,891|17,164|8%|-7%|\n|Operating Margin:||||||\n|US SBU|699|668|711|5%|-6%|\n|Andes SBU|587|533|580|10%|-8%|\n|Brazil SBU|742|871|969|-15%|-10%|\n|MCAC SBU|541|543|560|\u2014%|-3%|\n|Europe SBU|403|415|504|-3%|-18%|\n|Asia SBU|76|169|236|-55%|-28%|\n|Corporate and Other|53|25|-15|112%|267%|\n|Intersegment eliminations|-13|23|38|-157%|-39%|\n|Total Operating Margin|3,088|3,247|3,583|-5%|-9%|\n|General and administrative expenses|-187|-220|-274|15%|20%|\n|Interest expense|-1,471|-1,482|-1,544|1%|4%|\n|Interest income|365|275|348|33%|-21%|\n|Loss on extinguishment of debt|-261|-229|-8|-14%|NM|\n|Other expense|-68|-76|-82|11%|7%|\n|Other income|124|125|98|-1%|28%|\n|Gain on disposal and sale of investments|358|26|219|NM|-88%|\n|Goodwill impairment expense|-164|-372|-1,817|56%|80%|\n|Asset impairment expense|-91|-95|-73|4%|-30%|\n|Foreign currency transaction gains (losses)|11|-22|-170|150%|87%|\n|Other non-operating expense|-128|-129|-50|1%|-158%|\n|Income tax expense|-419|-343|-685|-22%|50%|\n|Net equity in earnings of affiliates|19|25|35|-24%|-29%|\n|INCOME (LOSS) FROM CONTINUING OPERATIONS|1,176|730|-420|61%|274%|\n|Income (loss) from operations of discontinued businesses|27|-27|47|200%|-157%|\n|Net gain (loss) from disposal and impairments of discontinued operations|-56|-152|16|63%|NM|\n|NET INCOME (LOSS)|1,147|551|-357|108%|254%|\n|Noncontrolling interests:||||||\n|(Income) from continuing operations attributable to noncontrolling interests|-387|-446|-540|13%|17%|\n|(Income) loss from discontinued operations attributable to noncontrolling interests|9|9|-15|\u2014%|160%|\n|Net income (loss) attributable to The AES Corporation|$769|$114|$-912|575%|113%|\n|AMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:||||||\n|Income (loss) from continuing operations, net of tax|$789|$284|$-960|178%|130%|\n|Income (loss) from discontinued operations, net of tax|-20|-170|48|88%|-454%|\n|Net income (loss)|$769|$114|$-912|575%|113%|\n|Net cash provided by operating activities|$1,791|$2,715|$2,901|-34%|-6%|\n|DIVIDENDS DECLARED PER COMMON SHARE|$0.25|$0.17|$0.08|47%|113%|\n", + "Components of Revenue, Cost of Sales and Operating Margin\u2014Revenue includes revenue earned from the sale of energy from our utilities and the production of energy from our generation plants, which are classified as regulated and non-regulated on the Consolidated Statements of Operations, respectively.", + "Revenue also includes the gains or losses on derivatives associated with the sale of electricity.", + "Cost of sales includes costs incurred directly by the businesses in the ordinary course of business.", + "Examples include electricity and fuel purchases, O&M costs, depreciation and amortization expense, bad debt expense and recoveries, general administrative and support costs (including employee-related costs directly associated with the operations of the business).", + "Cost of sales also includes the gains or losses on derivatives (including embedded derivatives other than foreign currency embedded derivatives) associated with the purchase of electricity or fuel.", + "Operating margin is defined as revenue less cost of sales.", + "In March 2013, the Secretariat of Energy released Resolution 95/2013, which affects the remuneration of generators whose sales prices had been frozen since 2003.", + "This regulation is applicable to generation companies with certain exceptions.", + "It defined a compensation system based on compensating for fixed costs, non-fuel variable costs and an additional margin.", + "Resolution 95/2013 converted the Argentine electric market to an \"average cost\" compensation scheme.", + "Thermal units must achieve an availability target, which varies by technology, in order to receive full fixed cost revenues.", + "The Resolution also established that all fuels, except coal, are to be provided by CAMMESA.", + "Thermoelectric natural gas plants not affected by the Resolution, such as TermoAndes, are able to purchase gas directly from the producers for Energy Plus sales.", + "In May 2014, the Argentine government passed Resolution No.529/214 (\"Resolution 529\") which retroactively updated the prices of Resolution 95/2013 to February 1, 2014, changed target availability and added a remuneration for non-periodic maintenance.", + "This remuneration is aimed to cover the expenses that the generator incurs when performing major maintenances in its units.", + "Since 2014, this resolution has been updated annually, the most recent of which was issued in March 2016.", + "On February 2, 2017, the Ministry of Energy issued Resolution 19/2017 establishing changes to the Energia Base price framework.", + "Effective in February 2017, the framework will maintain the current tolling agreement structure, as fuels will continue to be sourced by CAMMESA.", + "A key change will be introduced to the tariff structure which will now have prices set in USD and also eliminates all future non-cash retention of margins.", + "In December 2015, the finance minister lifted foreign currency controls, allowing the peso to float under the administration of Argentinean Central Bank.", + "The newly freed currency fell by more than 30%.", + "Over the course of 2016, the Argentinean Peso devalued by approximately 22%.", + "At December 31, 2016, all transactions at our businesses in Argentina were translated using the official exchange rate published by the Argentine Central Bank.", + "See Note 7\u2014Financing Receivables in Item 8.", + "\u2014Financial Statements and Supplementary Data of this Form 10-K for further information on the long-term receivables.", + "Further weakening of the Argentine Peso and local economic activity could cause significant volatility in our results of operations, cash flows, the ability to pay dividends to the Parent Company, and the value of our assets.", + "Key Financial Drivers \u2014 Financial results are likely to be driven by many factors including, but not limited to: ?", + "Forced outages may impact earnings ?", + "FX exposure to fluctuations of the Argentine Peso ?", + "Hydrology ?", + "Timely collection of FONINVEMEM installment and outstanding receivables (See Note 7\u2014Financing Receivables in Item 8.", + "\u2014Financial Statements and Supplementary Data for further discussion) ?", + "Level of gas prices for contracted generation (Energy Plus) Brazil SBU Our Brazil SBU has generation and distribution businesses.", + "Tiet\u00ea and Eletropaulo are publicly listed companies in Brazil.", + "AES has a 24% economic interest in Tiet\u00ea and a 17% economic interest in Eletropaulo.", + "These businesses are consolidated in our financial statements as we maintain control over their operations.", + "Generation \u2014 Operating installed capacity of our Brazil SBU totals 2,658 MW in AES Tiet\u00ea plants, located in the state of S?o Paulo.", + "As of December 31, 2016, Tiet\u00ea represents approximately 10% of the total generation capacity in the state of S?o Paulo and is one of the largest generation companies in Brazil.", + "We also have another generation plant, AES Uruguaiana, located in southern Brazil with an installed capacity of 640 MW.", + "The following table lists our Brazil SBU generation facilities:" + ], + "question_id": "simplong-test-102", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of all Shares that are positive in 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part II Item 5\u2014Market for Registrant\u2019s Common Equity and Related Stockholder Matters Market Information.", + "The common stock of the Company is currently traded on the New York Stock Exchange (NYSE) under the symbol \u2018\u2018AES.", + "\u2019\u2019 The following tables set forth the high and low sale prices for the common stock as reported by the NYSE for the periods indicated.", + "|2002|High|Low|2001|High|Low|\n|First Quarter|$17.84|$4.11|First Quarter|$60.15|$41.30|\n|Second Quarter|9.17|3.55|Second Quarter|52.25|39.95|\n|Third Quarter|4.61|1.56|Third Quarter|44.50|12.00|\n|Fourth Quarter|3.57|0.95|Fourth Quarter|17.80|11.60|\n", + "Holders.", + "As of March 3, 2003, there were 9,663 record holders of the Company\u2019s Common Stock, par value $0.01 per share.", + "Dividends.", + "Under the terms of the Company\u2019s senior secured credit facilities entered into with a commercial bank syndicate, the Company is not allowed to pay cash dividends.", + "In addition, the Company is precluded from paying cash dividends on its Common Stock under the terms of a guaranty to the utility customer in connection with the AES Thames project in the event certain net worth and liquidity tests of the Company are not met.", + "The ability of the Company\u2019s project subsidiaries to declare and pay cash dividends to the Company is subject to certain limitations in the project loans, governmental provisions and other agreements entered into by such project subsidiaries.", + "Securities Authorized for Issuance under Equity Compensation Plans.", + "See the information contained under the caption \u2018\u2018Securities Authorized for Issuance under Equity Compensation Plans\u2019\u2019 of the Proxy Statement for the Annual Meeting of Stockholders of the Registrant to be held on May 1, 2003, which information is incorporated herein by reference.", + "Key actuarial assumptions contain no explicit provisions for reserve uncertainty nor does the Company supplement the actuarially determined reserves for uncertainty.", + "Carried reserves at each reporting date are the Company\u2019s best estimate of ultimate unpaid losses and LAE at that date.", + "The Company completes detailed reserve studies for each exposure group annually for both reinsurance and insurance operations.", + "The completed annual reserve studies are \u201crolled-forward\u201d for each accounting period until the subsequent reserve study is completed.", + "Analyzing the roll-forward process involves comparing actual reported losses to expected losses based on the most recent reserve study.", + "The Company analyzes significant variances between actual and expected losses and post adjustments to its reserves as warranted.", + "The Company continues to receive claims under expired insurance and reinsurance contracts asserting injuries and/or damages relating to or resulting from environmental pollution and hazardous substances, including asbestos.", + "Environmental claims typically assert liability for (a) the mitigation or remediation of environmental contamination or (b) bodily injury or property damage caused by the release of hazardous substances into the land, air or water.", + "Asbestos claims typically assert liability for bodily injury from exposure to asbestos or for property damage resulting from asbestos or products containing asbestos.", + "The Company\u2019s reserves include an estimate of the Company\u2019s ultimate liability for A&E claims.", + "The Company\u2019s A&E liabilities emanate from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "All of the contracts of insurance and reinsurance, under which the Company has received claims during the past three years, expired more than 20 years ago.", + "There are significant uncertainties surrounding the Company\u2019s reserves for its A&E losses.", + "A&E exposures represent a separate exposure group for monitoring and evaluating reserve adequacy.", + "The following table summarizes incurred losses with respect to A&E reserves on both a gross and net of reinsurance basis for the periods indicated:", + "||At December 31,|\n|(Dollars in thousands)|2017|2016|2015|\n|Gross basis:||||\n|Beginning of period reserves|$441,111|$433,117|$476,205|\n|Incurred losses|90,009|73,336|40,000|\n|Paid losses|-82,126|-65,342|-83,088|\n|End of period reserves|$448,994|$441,111|$433,117|\n|Net basis:||||\n|Beginning of period reserves|$319,072|$319,620|$458,211|\n|Incurred losses|37,137|53,909|38,440|\n|Paid losses|-38,128|-54,457|-177,031|\n|End of period reserves|$318,081|$319,072|$319,620|\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley, a Delaware domiciled insurance company and wholly\u0002owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater Insurance Company.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which related entirely to A&E business and had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Everest Re Bermuda transferred cash of $140,279 thousand, an amount equal to the net loss reserves as of the closing date.", + "The maximum liability retroceded under the retrocession treaty will be $440,279 thousand, equal to the retrocession payment plus $300,000 thousand.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "The following table summarizes information about share options outstanding for the period indicated:", + "||At December 31, 2017|\n||Options Outstanding|Options Exercisable|\n|||Weighted-||||\n|||Average|Weighted-||Weighted-|\n||Number|Remaining|Average|Number|Average|\n|Range of|Outstanding|Contractual|Exercise|Exercisable|Exercise|\n|Exercise Prices|at 12/31/17|Life|Price|at 12/31/17|Price|\n|$71.7150 - $78.1700|79,760|1.1|$71.72|79,760|$71.72|\n|$78.1800 - $85.6300|61,900|2.1|84.63|61,900|84.63|\n|$85.6400 - $87.4700|88,590|3.1|86.62|88,590|86.62|\n|$87.4800 - $89.4100|110,060|4.1|88.32|110,060|88.32|\n|$89.4200 - $110.1300|20,054|1.1|97.41|20,054|97.41|\n||360,364|2.7|84.10|360,364|84.10|\n", + "The following table summarizes the status of the Company\u2019s non-vested shares and changes for the periods indicated:", + "||Years Ended December 31,|\n||2017|2016|2015|\n|||Weighted-||Weighted-||Weighted-|\n|||Average||Average||Average|\n|||Grant Date||Grant Date||Grant Date|\n|Restricted (non-vested) Shares|Shares|Fair Value|Shares|Fair Value|Shares|Fair Value|\n|Outstanding at January 1,|435,338|$164.21|435,336|$143.02|467,745|$120.84|\n|Granted|160,185|234.01|173,546|186.37|156,262|178.80|\n|Vested|152,397|151.80|145,834|130.54|154,387|113.12|\n|Forfeited|21,865|187.82|27,710|147.32|34,284|138.19|\n|Outstanding at December 31,|421,261|194.01|435,338|164.21|435,336|143.02|\n", + "As of December 31, 2017, there was $56,981 thousand of total unrecognized compensation cost related to non-vested share-based compensation expense.", + "That cost is expected to be recognized over a weighted\u0002average period of 3.1 years.", + "The total fair value of shares vested during the years ended December 31, 2017, 2016 and 2015, was $23,134 thousand, $19,037 thousand and $17,464 thousand, respectively.", + "The tax benefit realized from the shares vested for the year ended December 31, 2017 was $10,130 thousand.", + "In addition to the 2010 Employee Plan, the 2009 Director Plan and the 2003 Director Plan, Group issued 404 common shares in 2017, 547 common shares in 2016 and 426 common shares in 2015 to the Company\u2019s non-employee directors as compensation for their service as directors.", + "These issuances had aggregate values of approximately $94 thousand, $103 thousand and $75 thousand, respectively.", + "Since its 1995 initial public offering, the Company has issued to certain key employees of the Company 2,141,557 restricted common shares, of which 280,452 restricted shares have been cancelled.", + "The Company has issued to non-employee directors of the Company 145,817 restricted common shares, of which no restricted shares have been cancelled.", + "The Company acquired 60,453, 70,010 and 82,277 common shares at a cost of $14,240 thousand, $12,111 thousand and $14,666 thousand in 2017, 2016 and 2015, respectively, from employees and non-employee directors who chose to pay required withholding taxes and/or the exercise cost on option exercises or restricted share vestings by withholding shares.", + "The Company\u2019s loss reserving methodologies continuously monitor the emergence of loss and loss development trends, seeking, on a timely basis, to both adjust reserves for the impact of trend shifts and to factor the impact of such shifts into the Company\u2019s underwriting and pricing on a prospective basis.", + "Reserves for Asbestos and Environmental Losses and LAE.", + "At December 31, 2017, the Company\u2019s gross reserves for A&E claims represented 3.8% of its total reserves.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "Liabilities related to Mt.", + "McKinley\u2019s direct business, which had been ceded to Bermuda Re previously, were retroceded to an affiliate of Clearwater Insurance Company in July 2015, concurrent with the sale of Mt.", + "McKinley to Clearwater Insurance Company.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims and ultimate values cannot be estimated using traditional reserving techniques.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Asbestos and Environmental Exposures\u201d and Item 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 3 of Notes to Consolidated Financial Statements.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the periods indicated:", + "||Years Ended December 31,|\n|(Dollars in millions)|2017|2016|2015|\n|Gross reserves|$449.0|$441.1|$433.1|\n|Reinsurance receivable|-130.9|-122.0|-113.5|\n|Net reserves|$318.1|$319.1|$319.6|\n|(Some amounts may not reconcile due to rounding.)||||\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley to Clearwater Insurance Company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Bermuda Re transferred cash of $140.3 million, an amount equal to the net loss reserves as of the closing date.", + "Of the $140.3 million of net loss reserves retroceded, $100.5 million were related to A&E business.", + "The maximum liability retroceded under the retrocession treaty will be $440.3 million, equal to the retrocession payment plus $300.0 million.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "In 2017, during its normal exposure analysis, the Company increased its net A&E reserves by $37.1 million, all of which related to its assumed reinsurance business.", + "Additional losses, including those relating to latent injuries and other exposures, which are as yet unrecognized, the type or magnitude of which cannot be foreseen by either the Company or the industry, may emerge in the future.", + "Such future emergence could have material adverse effects on the Company\u2019s future financial condition, results of operations and cash flows.", + "Future Policy Benefit Reserves.", + "The Company wrote a limited amount of life and annuity reinsurance in its Bermuda segment.", + "Future policy benefit liabilities for annuities are reported at the accumulated fund balance of these contracts.", + "Reserves for those liabilities include mortality provisions with respect to life and annuity claims, both reported and unreported.", + "Actual experience in a particular period may be worse than assumed experience and, consequently, may adversely affect the Company\u2019s operating results for that period.", + "See ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1F of Notes to Consolidated Financial Statements." + ], + "question_id": "simplong-test-103", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of No surrender charge of 2010 Individual Fixed Annuities, Change in cash of 2008, and Total reserves of 2010 Individual Variable Annuities ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "2010 and 2009 Comparison Surrender rates have improved compared to the prior year for group retirement products, individual fixed annuities and individual variable annuities as surrenders have returned to more normal levels.", + "Surrender rates for individual fixed annuities have decreased significantly in 2010 due to the low interest rate environment and the relative competitiveness of interest credited rates on the existing block of fixed annuities versus interest rates on alternative investment options available in the marketplace.", + "Surrender rates for group retirement products are expected to increase in 2011 as certain large group surrenders are anticipated.2009 and 2008 Comparison Surrenders and other withdrawals increased in 2009 for group retirement products primarily due to higher large group surrenders.", + "However, surrender rates and withdrawals have improved for individual fixed annuities and individual variable annuities.", + "The following table presents reserves by surrender charge category and surrender rates:", + "| |2010| 2009|\n| At December 31, (in millions) |Group Retirement Products*|Individual Fixed Annuities|Individual Variable Annuities|Group Retirement Products*|Individual Fixed Annuities|Individual Variable Annuities |\n|No surrender charge|$52,742|$14,006|$11,859|$47,854|$11,444|$11,161|\n|0% - 2%|1,292|3,510|4,083|1,509|3,054|4,094|\n|Greater than 2% - 4%|1,754|5,060|2,040|1,918|5,635|2,066|\n|Greater than 4%|2,753|22,777|7,361|3,213|23,885|6,758|\n|Non-Surrenderable|792|3,136|238|850|3,184|558|\n|Total reserves|$59,333|$48,489|$25,581|$55,344|$47,202|$24,637|\n|Surrender rates|10.3%|7.4%|11.4%|12.3%|14.4%|12.1%|\n", + "* Excludes mutual funds of $9.0 billion and $8.1 billion in 2010 and 2009, respectively.", + "Financial Services Operations AIG\u2019s Financial Services subsidiaries engage in diversified activities including commercial aircraft leasing and the remaining Capital Markets portfolios, which are conducted through ILFC and AIGFP, respectively.", + "Following the classification of AGF as discontinued operations in the third quarter of 2010 (see Note 4 to the Consolidated Financial Statements), AIG\u2019s remaining consumer finance businesses are now reported in AIG\u2019s Other operations category as part of Divested businesses.", + "As discussed in Note 3 to the Consolidated Financial Statements, in order to align financial reporting with changes made during the third quarter of 2010 to the manner in which AIG\u2019s chief operating decision makers review the businesses to make decisions about resources to be allocated and to assess performance, changes were made to AIG\u2019s segment information.", + "During the third quarter of 2010, AIG\u2019s Asset Management Group undertook the management responsibilities for non-derivative assets and liabilities of the Capital Markets\u2019 businesses of the Financial Services segment.", + "These assets and liabilities are being managed on a spread basis, in concert with the MIP.", + "Accordingly, gains and losses related to these assets and liabilities, primarily consisting of credit valuation adjustment gains and losses are reported in AIG\u2019s Other operations category as part of Asset Management \u2014 Direct Investment business.", + "Also, intercompany interest related to loans from AIG Funding Inc. (AIG Funding) to AIGFP is no longer being allocated to Capital Markets from Other operations.", + "The remaining Capital Markets derivatives business continues to be reported in the Financial Services segment as part of Capital Markets results.", + "American International Group, Inc. , and Subsidiaries solely for illustrative purposes.", + "The selection of these specific events should not be construed as a prediction, but only as a demonstration of the potential effects of such events.", + "These scenarios should not be construed as the only risks AIG faces; these events are shown as an indication of several possible losses AIG could experience.", + "In addition, losses from these and other risks could be materially higher than illustrated.", + "The sensitivity factors utilized for 2010 and presented above were selected based on historical data from 1990 to 2010, as follows (see the table below): ?", + "a 100 basis point parallel shift in the yield curve is broadly consistent with a one standard deviation movement of the benchmark ten-year treasury yield; ?", + "a 20 percent drop for equity and alternative investments is broadly consistent with a one standard deviation movement in the S&P 500; and ?", + "a 10 percent depreciation of foreign currency exchange rates is consistent with a one standard deviation movement in the U. S. dollar (USD)/Japanese Yen (JPY) exchange rate.", + "||Period|StandardDeviation|Suggested2010Scenario|2010 Scenarioas aMultiple ofStandardDeviation|2010 Change/ Return|2010 as aMultiple ofStandardDeviation|Original2009 Scenario(based onStandardDeviation for1989-2009Period)|\n|10-Year Treasury|1990-2010|0.01|0.01|1.01|-0.01|0.56|0.01|\n|S&P 500|1990-2010|0.19|0.20|1.05|0.13|0.67|0.20|\n|USD/JPY|1990-2010|0.11|0.10|0.92|0.15|1.34|0.10|\n", + "Operational Risk Management AIG\u2019s Operational Risk Management department (ORM) oversees AIG\u2019s operational risk management practices.", + "The Director of ORM reports to the CRO.", + "ORM is responsible for establishing and maintaining the framework, principles and guidelines of AIG\u2019s operational risk management program.", + "Each business unit is responsible for its operational risks and implementing the components of the operational risk management program to effectively identify, assess, monitor and mitigate such risks.", + "This responsibility includes developing and implementing policies, procedures, management oversight processes, and other governance-related activities consistent with AIG\u2019s overall operational risk management process.", + "Senior operational risk executives in the businesses report to the Director of ORM and to business management.", + "This reporting structure facilitates development of business-specific knowledge of operational risk matters, while at the same time maintaining company-wide consistency in AIG\u2019s overall approach to operational risk management.", + "A strong operational risk management program facilitates escalation and resolution of operational risk issues.", + "In order to accomplish this, AIG\u2019s operational risk management program is designed to: ?", + "pro-actively address potential operational risk issues; ?", + "create transparency at all levels of the organization; and ?", + "assign clear ownership and accountability for addressing identified issues.", + "As part of the operational risk management framework, AIG has implemented a risk and control self assessment (RCSA) process.", + "The RCSA process is used to identify key operational risks and evaluate the effectiveness of existing controls to mitigate those risks.", + "Corrective action plans are developed to address any identified issues.", + "In 2010, business units continued to enhance their RCSA processes to perform more robust risk assessments.", + "American International Group, Inc. , and Subsidiaries AIG\u2019s consolidated risk target is to maintain a minimum liquidity buffer such that AIG Parent\u2019s liquidity needs under the ERM stress scenarios do not exceed 80 percent of AIG Parent\u2019s overall liquidity sources over the specified two-year horizon.", + "If the 80 percent minimum threshold is projected to be breached over this defined time horizon, AIG will take appropriate actions to further increase liquidity sources or reduce liquidity needs to maintain the target threshold, although no assurance can be given that this would be possible under then-prevailing market conditions.", + "AIG expects to enter into additional capital maintenance agreements with its U. S. insurance companies to manage the flow of capital and funds between AIG Parent and the insurance companies.", + "As a result of these ERM stress tests, AIG believes that it has sufficient liquidity at the AIG Parent level to satisfy future liquidity requirements and meet its obligations, including reasonably foreseeable contingencies or events.", + "See further discussion regarding AIG Parent and subsidiary liquidity considerations in Liquidity of Parent and Subsidiaries below.", + "Analysis of sources and uses of cash The following table presents selected data from AIG\u2019s Consolidated Statement of Cash Flows:", + "| Years Ended December 31, (in millions) |2010|2009|2008|\n|Summary:||||\n|Net cash provided by (used in) operating activities|$16,910|$18,584|$-122|\n|Net cash provided by (used in) investing activities|-10,225|5,778|47,176|\n|Net cash used in financing activities|-9,261|-28,997|-40,734|\n|Effect of exchange rate changes on cash|39|533|38|\n|Change in cash|-2,537|-4,102|6,358|\n|Cash at beginning of year|4,400|8,642|2,284|\n|Reclassification of assets held for sale|-305|-140|-|\n|Cash at end of year|$1,558|$4,400|$8,642|\n", + "Net cash provided by operating activities was positive for both 2010 and 2009 compared to negative in 2008, principally due to positive cash flows from AIG\u2019s life insurance subsidiaries.", + "Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits, but the ability of Chartis to generate positive cash flow is affected by operating expenses, the frequency and severity of losses under its insurance policies and policy retention rates.", + "Cash provided by Chartis operations was $1.9 billion for 2010 compared to $2.8 billion in 2009 as a reduction in claims paid was more than offset by declines in premiums collected, arising primarily from a decrease in domestic production.", + "Catastrophic events and significant casualty losses, the timing and effect of which are inherently unpredictable, reduce operating cash flow for Chartis operations.", + "Cash provided by AIG\u2019s life insurance subsidiaries, including entities presented as discontinued operations, was $15.5 billion for 2010 compared to $9.1 billion in 2009 as growth in international markets was partially offset by a decrease in cash flows from domestic operations.", + "Cash flows provided from Financial Services including entities presented as discontinued operations were $1.4 billion and $5.4 billion for 2010 and 2009, respectively.", + "The decrease can be attributed in part to the continued wind-down of AIGFP\u2019s businesses and portfolio.", + "Cash provided by Chartis was $2.8 billion for 2009 compared to $4.8 billion in 2008 as a reduction in claims paid was more than offset by reduced premiums collected.", + "Cash provided by life insurance operations, including entities presented as discontinued operations, was $9.1 billion for 2009 compared to $22 billion in 2008.", + "Reduced cash flows were primarily driven by the continuing impact of the negative events during the second half of 2008.", + "Cash provided from Financial Services, including entities presented as discontinued operations, was $5.4 billion for 2009 compared to $28.9 billion operating cash outflows in 2008, primarily related to collateral posting requirements.", + "Although many clients use both active and passive strategies, the application of these strategies differs greatly.", + "For example, clients may use index products to gain exposure to a market or asset class pending reallocation to an active manager.", + "This has the effect of increasing turnover of index AUM.", + "In addition, institutional non-ETP index assignments tend to be very large (multi\u0002billion dollars) and typically reflect low fee rates.", + "This has the potential to exaggerate the significance of net flows in institutional index products on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2012 equity AUM of $1.845 trillion increased by $285.4 billion, or 18%, from the end of 2011, largely due to flows into regional, country-specific and global mandates and the effect of higher market valuations.", + "Equity AUM growth included $54.0 billion in net new business and $3.6 billion in new assets related to the acquisition of Claymore.", + "Net new business of $54.0 billion was driven by net inflows of $53.0 billion and $19.1 billion into iShares and non-ETP index accounts, respectively.", + "Passive inflows were offset by active net outflows of $18.1 billion, with net outflows of $10.0 billion and $8.1 billion from fundamental and scientific active equity products, respectively.", + "Passive strategies represented 84% of equity AUM with the remaining 16% in active mandates.", + "Institutional investors represented 62% of equity AUM, while iShares, and retail and HNW represented 29% and 9%, respectively.", + "At year-end 2012, 63% of equity AUM was managed for clients in the Americas (defined as the United States, Caribbean, Canada, Latin America and Iberia) compared with 28% and 9% managed for clients in EMEA and Asia-Pacific, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s 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 tandem with U. S. markets, may have a greater impact on BlackRock\u2019s effective equity fee rates and revenues.", + "Fixed Income Fixed income AUM ended 2012 at $1.259 trillion, rising $11.6 billion, or 1%, relative to December 31, 2011.", + "Growth in AUM reflected $43.3 billion in net new business, excluding the two large previously mentioned low-fee outflows, $75.4 billion in market and foreign exchange gains and $3.0 billion in new assets related to Claymore.", + "Net new business was led by flows into domestic specialty and global bond mandates, with net inflows of $28.8 billion, $13.6 billion and $3.1 billion into iShares, non-ETP index and model-based products, respectively, partially offset by net outflows of $2.2 billion from fundamental strategies.", + "Fixed Income AUM was split between passive and active strategies with 48% and 52%, respectively.", + "Institutional investors represented 74% of fixed income AUM while iShares and retail and HNW represented 15% and 11%, respectively.", + "At year-end 2012, 59% of fixed income AUM was managed for clients in the Americas compared with 33% and 8% managed for clients in EMEA and Asia\u0002Pacific, respectively.", + "Multi-Asset Class Component Changes in Multi-Asset Class AUM" + ], + "question_id": "simplong-test-104", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Commercial realestate sum up, excluding those negative ones for Net Charge-offs / (Recoveries)? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Tobacco-Related Cases Set for Trial: As of January 29, 2018, three Engle progeny cases are set for trial through March 31, 2018.", + "There are no other individual smoking and health cases against PM USA set for trial during this period.", + "Cases against other companies in the tobacco industry may be scheduled for trial during this period.", + "Trial dates are subject to change.", + "Trial Results: Since January 1999, excluding the Engle progeny cases (separately discussed below), verdicts have been returned in 63 smoking and health, \u201cLights/Ultra Lights\u201d and health care cost recovery cases in which PM USA was a defendant.", + "Verdicts in favor of PM USA and other defendants were returned in 42 of the 63 cases.", + "These 42 cases were tried in Alaska (1), California (7), Connecticut (1), Florida (10), Louisiana (1), Massachusetts (2), Mississippi (1), Missouri (4), New Hampshire (1), New Jersey (1), New York (5), Ohio (2), Pennsylvania (1), Rhode Island (1), Tennessee (2) and West Virginia (2).", + "A motion for a new trial was granted in one of the cases in Florida and in the case in Alaska.", + "In the Alaska case (Hunter), the trial court withdrew its order for a new trial upon PM USA\u2019s motion for reconsideration.", + "In December 2015, the Alaska Supreme Court reversed the trial court decision and remanded the case with directions for the trial court to reassess whether to grant a new trial.", + "In March 2016, the trial court granted a new trial and PM USA filed a petition for review of that order with the Alaska Supreme Court, which the court denied in July 2016.", + "The retrial began in October 2016.", + "In November 2016, the court declared a mistrial after the jury failed to reach a verdict.", + "The plaintiff subsequently moved for a new trial, which is scheduled to begin April 9, 2018.", + "See Types and Number of Cases above for a discussion of the trial results in In re: Tobacco Litigation (West Virginia consolidated cases).", + "Of the 21 non-Engle progeny cases in which verdicts were returned in favor of plaintiffs, 18 have reached final resolution.", + "As of January 29, 2018, 116 state and federal Engle progeny cases involving PM USA have resulted in verdicts since the Florida Supreme Court\u2019s Engle decision as follows: 61 verdicts were returned in favor of plaintiffs; 45 verdicts were returned in favor of PM USA.", + "Eight verdicts that were initially returned in favor of plaintiff were reversed post-trial or on appeal and remain pending and two verdicts in favor of PM USA were reversed for a new trial.", + "See Smoking and Health Litigation - Engle Progeny Trial Court Results below for a discussion of these verdicts.", + "Judgments Paid and Provisions for Tobacco and Health Litigation Items (Including Engle Progeny Litigation): After exhausting all appeals in those cases resulting in adverse verdicts associated with tobacco-related litigation, since October 2004, PM USA has paid in the aggregate judgments and settlements (including related costs and fees) totaling approximately $490 million and interest totaling approximately $184 million as of December 31, 2017.", + "These amounts include payments for Engle progeny judgments (and related costs and fees) totaling approximately $99 million, interest totaling approximately $22 million and payment of approximately $43 million in connection with the Federal Engle Agreement, discussed below.", + "The changes in Altria Group, Inc. \u2019s accrued liability for tobacco and health litigation items, including related interest costs, for the periods specified below are as follows:", + "|(in millions)|2017|2016|2015|\n|Accrued liability for tobacco and health litigation items at beginning of year|$47|$132|$39|\n|Pre-tax charges for:||||\n|Tobacco and health judgments|72|21|84|\n|Related interest costs|8|7|23|\n|Agreement to resolve federalEngleprogeny cases|\u2014|\u2014|43|\n|Agreement to resolveAspinallincluding relatedinterest costs|\u2014|32|\u2014|\n|Agreement to resolveMiner|\u2014|45|\u2014|\n|Payments|-21|-190|-57|\n|Accrued liability for tobacco and health litigation items atend of year|$106|$47|$132|\n", + "The accrued liability for tobacco and health litigation items, including related interest costs, was included in liabilities on Altria Group, Inc. \u2019s consolidated balance sheets.", + "Pre-tax charges for tobacco and health judgments, the agreement to resolve federal Engle progeny cases and the agreements to resolve the Aspinall and Miner \u201clights\u201d class action cases (excluding related interest costs of approximately $10 million in Aspinall) were included in marketing, administration and research costs on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Pre-tax charges for related interest costs were included in interest and other debt expense, net on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Security for Judgments: To obtain stays of judgments pending current appeals, as of December 31, 2017, PM USA has posted various forms of security totaling approximately $61 million, the majority of which has been collateralized with cash deposits that are included in assets on the consolidated balance sheet.", + "Information about stock options at December 31, 2007 follows:", + "||Options Outstanding|Options Exercisable(a)|\n|December 31, 2007Shares in thousandsRange of exercise prices|Shares|Weighted- averageexercise price|Weighted-average remaining contractual life (in years)|Shares|Weighted-averageexercise price|\n|$37.43 \u2013 $46.99|1,444|$43.05|4.0|1,444|$43.05|\n|47.00 \u2013 56.99|3,634|53.43|5.4|3,022|53.40|\n|57.00 \u2013 66.99|3,255|60.32|5.2|2,569|58.96|\n|67.00 \u2013 76.23|5,993|73.03|5.5|3,461|73.45|\n|Total|14,326|$62.15|5.3|10,496|$59.95|\n", + "(a) The weighted-average remaining contractual life was approximately 4.2 years.", + "At December 31, 2007, there were approximately 13,788,000 options in total that were vested and are expected to vest.", + "The weighted-average exercise price of such options was $62.07 per share, the weighted-average remaining contractual life was approximately 5.2 years, and the aggregate intrinsic value at December 31, 2007 was approximately $92 million.", + "Stock options granted in 2005 include options for 30,000 shares that were granted to non-employee directors that year.", + "No such options were granted in 2006 or 2007.", + "Awards granted to non-employee directors in 2007 include 20,944 deferred stock units 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 under SFAS 123R until such awards are paid to the participants as cash.", + "As there are no vestings or service requirements on these awards, total compensation expense is recognized in full on all awarded units on the date of grant.", + "The weighted-average grant-date fair value of options granted in 2007, 2006 and 2005 was $11.37, $10.75 and $9.83 per option, respectively.", + "To determine stock-based compensation expense under SFAS 123R, the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures.", + "At December 31, 2006 and 2005 options for 10,743,000 and 13,582,000 shares of common stock, respectively, were exercisable at a weighted-average price of $58.38 and $56.58, respectively.", + "The total intrinsic value of options exercised during 2007, 2006 and 2005 was $52 million, $111 million and $31 million, respectively.", + "At December 31, 2007 the aggregate intrinsic value of all options outstanding and exercisable was $94 million and $87 million, respectively.", + "Cash received from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $111 million, $233 million and $98 million, respectively.", + "The actual tax benefit realized for tax deduction purposes from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $39 million, $82 million and $34 million, respectively.", + "There were no options granted in excess of market value in 2007, 2006 or 2005.", + "Shares of common stock available during the next year for the granting of options and other awards under the Incentive Plans were 40,116,726 at December 31, 2007.", + "Total shares of PNC common stock authorized for future issuance under equity compensation plans totaled 41,787,400 shares at December 31, 2007, which includes shares available for issuance under the Incentive Plans, the Employee Stock Purchase Plan as described below, and a director plan.", + "During 2007, we issued approximately 2.1 million shares from treasury stock in connection with stock option exercise activity.", + "As with past exercise activity, we intend to utilize treasury stock for future stock option exercises.", + "As discussed in Note 1 Accounting Policies, we adopted the fair value recognition provisions of SFAS 123 prospectively to all employee awards including stock options granted, modified or settled after January 1, 2003.", + "As permitted under SFAS 123, we recognized compensation expense for stock options on a straight-line basis over the pro rata vesting period.", + "Total compensation expense recognized related to PNC stock options in 2007 was $29 million compared with $31 million in 2006 and $29 million in 2005.", + "PRO FORMA EFFECTS A table is included in Note 1 Accounting Policies that sets forth pro forma net income and basic and diluted earnings per share as if compensation expense had been recognized under SFAS 123 and 123R, as amended, for stock options for 2005.", + "For purposes of computing stock option expense and 2005 pro forma results, we estimated the fair value of stock options using the Black-Scholes option pricing model.", + "The model requires the use of numerous assumptions, many of which are very subjective.", + "Therefore, the 2005 pro forma results are estimates of results of operations as if compensation expense had been recognized for all stock-based compensation awards and are not indicative of the impact on future periods.", + "See Note 1 Accounting Policies and Note 3 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances.", + "Table 23: Allowance for Loan and Lease Losses", + "|Dollars in millions|2017|2016|\n|January 1|$2,589|$2,727|\n|Total net charge-offs|-457|-543|\n|Provision for credit losses|441|433|\n|Net decrease / (increase) in allowance forunfunded loan commitments andletters of credit|4|-40|\n|Other|34|12|\n|December 31|$2,611|$2,589|\n|Net charge-offs to average loans (for theyear ended)|.21%|.26%|\n|Allowance for loan and lease losses tototal loans|1.18%|1.23%|\n|Commercial lending net charge-offs|$-105|$-185|\n|Consumer lending net charge-offs|-352|-358|\n|Total net charge-offs|$-457|$-543|\n|Net charge-offs to average loans (for theyear ended)|||\n|Commercial lending|.07%|.14%|\n|Consumer lending|.49%|.50%|\n", + "At December 31, 2017, total ALLL to total nonperforming loans was 140%.", + "The comparable amount for December 31, 2016 was 121%.", + "These ratios are 102% and 89%, respectively, when excluding the $.7 billion of ALLL at both December 31, 2017 and December 31, 2016 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans.", + "We have excluded these amounts from ALLL in these ratios as these asset classes are not included in nonperforming loans.", + "See Table 18 within this Credit Risk Management section for additional information.", + "The ALLL balance increases or decreases across periods in relation to fluctuating risk factors, including asset quality trends, net charge-offs and changes in aggregate portfolio balances.", + "During 2017, overall credit quality remained stable, which resulted in an essentially flat ALLL balance as of December 31, 2017 compared to December 31, 2016.", + "The following table summarizes our loan charge-offs and recoveries.", + "Table 24: Loan Charge-Offs and Recoveries", + "|Year ended December 31Dollars in millions|Gross Charge-offs|Recoveries|Net Charge-offs / (Recoveries)|Percent of Average Loans|\n|2017|||||\n|Commercial|$186|$81|$105|.10%|\n|Commercial realestate|24|28|-4|-.01%|\n|Equipmentlease financing|11|7|4|.05%|\n|Home equity|123|91|32|.11%|\n|Residential realestate|9|18|-9|-.06%|\n|Credit card|182|21|161|3.06%|\n|Other consumer|251|83|168|.77%|\n|Total|$786|$329|$457|.21%|\n|2016|||||\n|Commercial|$332|$117|$215|.21%|\n|Commercial realestate|26|51|-25|-.09%|\n|Equipment leasefinancing|5|10|-5|-.07%|\n|Home equity|143|84|59|.19%|\n|Residential realestate|14|9|5|.03%|\n|Credit card|161|19|142|2.90%|\n|Other consumer|205|53|152|.70%|\n|Total|$886|$343|$543|.26%|\n", + "See Note 1 Accounting Policies and Note 4 Allowance for Loan and Lease Losses in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information on the ALLL." + ], + "question_id": "simplong-test-105", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in based rent for hudson yards , new york facility in the third period?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "used to refinance certain indebtedness which matured in the fourth quarter of 2014.", + "Interest is payable semi-annually in arrears on March 18 and September 18 of each year, or approximately $35 million per year.", + "The 2024 Notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a \u201cmake-whole\u201d redemption price.", + "The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2024 Notes.2022 Notes.", + "In May 2012, the Company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations.", + "These notes were issued as two separate series of senior debt securities, including $750 million of 1.375% notes, which were repaid in June 2015 at maturity, and $750 million of 3.375% notes maturing in June 2022 (the \u201c2022 Notes\u201d).", + "Net proceeds were used to fund the repurchase of BlackRock\u2019s common stock and Series B Preferred from Barclays and affiliates and for general corporate purposes.", + "Interest on the 2022 Notes of approximately $25 million per year is payable semi-annually on June 1 and December 1 of each year.", + "The 2022 Notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a \u201cmake-whole\u201d redemption price.", + "The \u201cmake-whole\u201d redemption price represents a price, subject to the specific terms of the 2022 Notes and related indenture, that is the greater of (a) par value and (b) the present value of future payments that will not be paid because of an early redemption, which is discounted at a fixed spread over a comparable Treasury security.", + "The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2022 Notes.2021 Notes.", + "In May 2011, the Company issued $1.5 billion in aggregate principal amount of unsecured unsubordinated obligations.", + "These notes were issued as two separate series of senior debt securities, including $750 million of 4.25% notes maturing in May 2021 and $750 million of floating rate notes, which were repaid in May 2013 at maturity.", + "Net proceeds of this offering were used to fund the repurchase of BlackRock\u2019s Series B Preferred from affiliates of Merrill Lynch & Co. , Inc. Interest on the 4.25% notes due in 2021 (\u201c2021 Notes\u201d) is payable semi-annually on May 24 and November 24 of each year, and is approximately $32 million per year.", + "The 2021 Notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a \u201cmake-whole\u201d redemption price.", + "The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2021 Notes.2019 Notes.", + "In December 2009, the Company issued $2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations.", + "These notes were issued as three separate series of senior debt securities including $0.5 billion of 2.25% notes, which were repaid in December 2012, $1.0 billion of 3.50% notes, which were repaid in December 2014 at maturity, and $1.0 billion of 5.0% notes maturing in December 2019 (the \u201c2019 Notes\u201d).", + "Net proceeds of this offering were used to repay borrowings under the CP Program, which was used to finance a portion of the acquisition of Barclays Global Investors from Barclays on December 1, 2009, and for general corporate purposes.", + "Interest on the 2019 Notes of approximately $50 million per year is payable semi-annually in arrears on June 10 and December 10 of each year.", + "These notes may be redeemed prior to maturity at any time in whole or in part at the option of the Company at a \u201cmake-whole\u201d redemption price.", + "The unamortized discount and debt issuance costs are being amortized over the remaining term of the 2019 Notes.13.", + "Commitments and Contingencies Operating Lease Commitments The Company leases its primary office spaces under agreements that expire through 2043.", + "Future minimum commitments under these operating leases are as follows:", + "|Year|Amount|\n|2018|141|\n|2019|132|\n|2020|126|\n|2021|118|\n|2022|109|\n|Thereafter|1,580|\n|Total|$2,206|\n", + "In May 2017, the Company entered into an agreement with 50 HYMC Owner LLC, for the lease of approximately 847,000 square feet of office space located at 50 Hudson Yards, New York, New York.", + "The term of the lease is twenty years from the date that rental payments begin, expected to occur in May 2023, with the option to renew for a specified term.", + "The lease requires annual base rental payments of approximately $51 million per year during the first five years of the lease term, increasing every five years to $58 million, $66 million and $74 million per year (or approximately $1.2 billion in base rent over its twenty-year term).", + "This lease is classified as an operating lease and, as such, is not recorded as a liability on the consolidated statements of financial condition.", + "Rent expense and certain office equipment expense under lease agreements amounted to $132 million, $134 million and $136 million in 2017, 2016 and 2015, respectively.", + "Investment Commitments.", + "At December 31, 2017, the Company had $298 million of various capital commitments to fund sponsored investment funds, including consolidated VIEs.", + "These funds include private equity funds, real assets funds, and opportunistic funds.", + "This amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds.", + "Generally, the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment.", + "These unfunded commitments are not recorded on the consolidated statements of financial condition.", + "These commitments do not include potential future commitments approved by the Company that are not yet legally binding.", + "The Company intends to make additional capital commitments from time to time to fund additional investment products for, and with, its clients.", + "Contingencies Contingent Payments Related to Business Acquisitions.", + "In connection with certain acquisitions, BlackRock is required to make contingent payments, subject to achieving specified performance targets, which may include revenue related to acquired contracts or new capital commitments for certain products.", + "The fair value of the remaining aggregate contingent payments at December 31, 2017 totaled $236 million, including $128 million related to the First Reserve Transaction, and is included in other liabilities on the consolidated statements of financial condition.", + "Institutional active AUM ended 2017 at $1.1 trillion, reflecting $5.9 billion of net inflows.", + "Institutional active represented 19% of long-term AUM and 18% of long-term base fees.", + "Growth in AUM reflected continued strength in multi-asset products with net inflows of $19.6 billion reflecting ongoing demand for solutions offerings and the LifePath?", + "target-date suite.", + "Alternatives net inflows of $0.6 billion were led by inflows into infrastructure, hedge fund solutions and alternatives solutions offerings.", + "Excluding return of capital and investment of $6.0 billion, alternatives net inflows were $6.6 billion.", + "In addition, 2017 was another strong fundraising year for illiquid alternatives, and we raised approximately $11 billion in new commitments, which will be a source of future net inflows.", + "Equity and fixed income net outflows were $13.6 billion and $0.7 billion, respectively.", + "Institutional index AUM totaled $2.3 trillion at December 31, 2017, reflecting net inflows of $49.1 billion.", + "Fixed income net inflows of $87.5 billion were driven by demand for liability\u0002driven investment solutions, particularly in Europe.", + "Equity net outflows of $34.8 billion were primarily due to low-fee regional index equity outflows as clients looked to re-allocate, re-balance or meet their cash needs.", + "Alternatives net outflows of $2.9 billion reflected outflows from passive currency overlays.", + "Institutional index represented 40% of long-term AUM at December 31, 2017 and accounted for 10% of long-term base fees for 2017.", + "The Company\u2019s institutional clients consist of the following: ?", + "Pensions, Foundations and Endowments.", + "BlackRock is among the world\u2019s largest managers of pension plan assets with $2.403 trillion, or 69%, of long-term institutional AUM managed for defined benefit, defined contribution and other pension plans for corporations, governments and unions at December 31, 2017.", + "The market landscape continues to shift from defined benefit to defined contribution, driving strong flows in our defined contribution channel, which had $46.5 billion of long-term net inflows for the year, driven by continued demand for our LifePath target-date suite.", + "Defined contribution represented $887.1 billion of total pension AUM, and we remain well positioned to capitalize on the on-going evolution of the defined contribution market and demand for outcome-oriented investments.", + "An additional $76.4 billion, or 2%, of long\u0002term institutional AUM was managed for other tax-exempt investors, including charities, foundations and endowments. ?", + "Official Institutions.", + "BlackRock managed $195.3 billion, or 6%, of long-term institutional AUM for official institutions, including central banks, sovereign wealth funds, supranationals, multilateral entities and government ministries and agencies at year-end 2017.", + "These clients often require specialized investment advice, the use of customized benchmarks and training support. ?", + "Financial and Other Institutions.", + "BlackRock is a top independent manager of assets for insurance companies, which accounted for $274.3 billion, or 8%, of institutional long-term AUM at year-end 2017.", + "Assets managed for other taxable institutions, including corporations, banks and third-party fund sponsors for which we provide sub-advisory services, totaled $506.9 billion, or 15%, of long-term institutional AUM at year-end.", + "PRODUCT TYPE AND INVESTMENT STYLE Component changes in AUM by product type and investment style for 2017 are presented below.", + "|(in millions)|December 31,2016|Net inflows (outflows)|Acquisition-1|Market change|FXimpact|December 31,2017|\n|Equity:|||||||\n|Active|$275,033|$-18,506|$\u2014|$46,134|$8,548|$311,209|\n|iSharesETFs|951,252|174,377|\u2014|189,472|14,509|1,329,610|\n|Non-ETF index|1,430,891|-25,725|\u2014|289,829|35,827|1,730,822|\n|Equity subtotal|2,657,176|130,146|\u2014|525,435|58,884|3,371,641|\n|Fixed income:|||||||\n|Active|749,996|21,541|\u2014|28,800|14,798|815,135|\n|iSharesETFs|314,707|67,451|\u2014|4,497|8,597|395,252|\n|Non-ETF index|507,662|89,795|\u2014|14,324|33,297|645,078|\n|Fixed income subtotal|1,572,365|178,787|\u2014|47,621|56,692|1,855,465|\n|Multi-asset|395,007|20,330|\u2014|49,560|15,381|480,278|\n|Alternatives:|||||||\n|Core|88,630|780|3,264|3,438|2,421|98,533|\n|Currency and commodities|28,308|197|\u2014|1,813|496|30,814|\n|Alternatives subtotal|116,938|977|3,264|5,251|2,917|129,347|\n|Long-term|4,741,486|330,240|3,264|627,867|133,874|5,836,731|\n|Cash management|403,584|38,259|\u2014|1,239|6,867|449,949|\n|Advisory|2,782|-1,245|\u2014|-205|183|1,515|\n|Total|$5,147,852|$367,254|$3,264|$628,901|$140,924|$6,288,195|\n", + "(1) Amount represents AUM acquired in the First Reserve Transaction.", + "occurs, at which time they are recorded as adjustments to interest expense over the term of the related notes.", + "At December 31, 2005, AOCI included a deferred loss of $4.1 million, net of tax, related to an interest rate swap.", + "This amount is being reclassified into earnings as adjustments to interest expense over the term of the Company\u2019s 51?4% senior notes due 2014.", + "At December 31, 2004, the amount of deferred loss included in AOCI was $4.6 million, net of tax.", + "The amounts amortized to interest expense were $0.8 million and $0.5 million for the years ending December 31, 2005 and 2004, respectively.", + "Note 13 \u2013 Equity Method Investments Noble Energy owns a 45% interest in Atlantic Methanol Production Company, LLC (\u2018\u2018AMPCO\u2019\u2019), which owns and operates a methanol production facility and related facilities in Equatorial Guinea and a 28% interest in Alba Plant, LLC (\u2018\u2018Alba Plant\u2019\u2019), which owns and operates a liquefied petroleum gas (\u2018\u2018LPG\u2019\u2019) processing plant.", + "Construction of the Alba Plant was funded primarily through advances by the Company and other owners in exchange for notes payable by the Alba Plant.", + "The notes mature on December 31, 2011 and bear interest at the 90-day LIBOR rate plus 3%.", + "Noble Energy owns 50% interests in AMPCO Marketing, LLC and AMPCO Services, LLC, which provide technical and consulting services.", + "These investments, which are accounted for using the equity method, are included in equity method investments on the Company\u2019s balance sheets, and the Company\u2019s share of earnings is reported as income from equity method investments on the Company\u2019s statements of operations.", + "Summarized, 100% combined financial information for equity method investees was as follows: Balance Sheet Information", + "| | December 31, |\n| | 2005 | 2004 |\n| | (in thousands) |\n|Current assets|$274,484|$174,864|\n|Noncurrent assets|877,402|826,499|\n|Current liabilities|119,912|118,784|\n|Noncurrent liabilities|450,156|381,509|\n", + "Statements of Operations Information" + ], + "question_id": "simplong-test-106", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Salaries and employee benefits in 2018 and 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except per Share Amounts) common stock.", + "The Series B Preferred Stock may be converted at our option if the closing price of our common stock multiplied by the conversion rate in effect at that time equals or exceeds 130% of the liquidation preference for 20 trading days during any consecutive 30 trading day period.", + "Holders of the Series B Preferred Stock will be entitled to an adjustment to the conversion rate if they convert their shares in connection with a fundamental change satisfying certain specified conditions.", + "The Series B Preferred Stock is junior to all of our existing and future debt obligations and senior to our common stock with respect to payments of dividends and rights upon liquidation, winding up or dissolution, to the extent of the liquidation preference.", + "The number of shares outstanding, conversion rates and corresponding conversion prices and conversion shares for our Series B Preferred Stock are listed below.", + "||December 31,|\n||2012|2011|2010|\n|Shares outstanding (actual number)|221,474|221,474|221,474|\n|Conversion rate per share|76.2197|74.4500|73.1904|\n|Conversion price|$13.12|$13.43|$13.66|\n|Conversion shares|16.9|16.5|16.2|\n", + "During 2012 and 2011, the conversion rate per share for our Series B Preferred Stock was adjusted as a result of the cumulative effect of certain cash dividends declared and paid on our common stock during the year, which resulted in a corresponding adjustment of the conversion price and conversion shares.", + "In 2010, we launched a tender offer and purchased 303,526 shares (actual number) of our Series B Preferred Stock for cash for an aggregate purchase price of $267.6.", + "The aggregate purchase price was calculated as the number of shares tendered multiplied by the purchase price of $869.86 per share plus unpaid dividends of $1.9, which were prorated for the period the tendered shares were outstanding, and transaction costs directly associated with the repurchase.", + "The carrying value of the tendered shares was $293.3 and was determined based on the number of shares tendered multiplied by the liquidation preference, less the pro-rata amount of issuance costs associated with the original issuance of the preferred stock.", + "A benefit of $25.7, representing the excess carrying value of the tendered shares over consideration from the repurchase, was recorded as an adjustment to additional paid-in capital.", + "Additionally, the pro-rata amount of issuance costs of $10.2 was recorded as an adjustment to additional paid-in capital.", + "The terms of our Series B Preferred Stock do not permit us to pay dividends on our common stock unless all accumulated and unpaid dividends on the Series B Preferred Stock have been or contemporaneously are declared and paid, or provision for the payment thereof has been made.", + "We declared annual dividends of $52.50 per share, or $11.6, $11.6 and $15.6, on our Series B Preferred Stock during 2012, 2011 and 2010, respectively.", + "Regular quarterly dividends, if declared, are $13.125 per share.", + "Dividends on each share of Series B Preferred Stock are payable quarterly in cash or, if certain conditions are met, in common stock, at our option on January 15, April 15, July 15 and October 15, or the next business date if these dates fall on the weekend or a holiday, of each year.", + "Dividends on our Series B Preferred Stock are cumulative from the date of issuance and are payable on each payment date to the extent that we have assets that are legally available to pay dividends and our Board of Directors, or an authorized committee of our Board, declares a dividend payable.", + "The terms of the Series B Preferred Stock include an embedded derivative instrument, the fair value of which as of December 31, 2012 and 2011 was negligible.", + "The Series B Preferred Stock is not considered a security with participation rights in earnings available to IPG common stockholders due to the contingent nature of the conversion feature of these securities.", + "was estimated on the date of the grant using a Monte-Carlo simulation method.", + "The assumptions related to this grant included expected volatility of 84.81 percent, expected dividend yield of 1.00 percent, and an expected term of 4.0 years based on the vesting term of the market condition.", + "The risk-free rate is consistent with the assumption used to value stock options.", + "For all other grants that vest solely upon a service condition, the fair value of the awards is estimated based upon the fair value of the underlying shares on the date of the grant.", + "Restricted stock award and unit activity for 2011, 2010 and 2009 is summarized as follows:", + "||Numberof Shares| Weighted-Average GrantDate Fair Value||\n|Non-vested at December 31, 2008||4,123,911|$27.67|\n|Granted||3,100,415|2.87|\n|Vested||-804,229|16.39|\n|Forfeited||-455,503|16.47|\n|Non-vested at December 31, 2009||5,964,594|$17.15|\n|Granted||1,166,968|6.96|\n|Vested||-936,412|34.00|\n|Forfeited||-1,264,706|15.97|\n|Non-vested at December 31, 2010||4,930,444|$12.13|\n|Granted||2,705,834|6.66|\n|Vested||-1,206,373|23.36|\n|Forfeited||-149,545|12.93|\n|Non-vested at December 31, 2011||6,280,360|$7.60|\n", + "As of December 31, 2011, the pre-tax amount of non-vested stock options and restricted stock awards and units not yet recognized was $31 million, which will be recognized over a weighted-average period of 1.4 years.", + "No share-based compensation costs were capitalized during the years ended December 31, 2011, 2010 and 2009.", + "Regions issued approximately 867 thousand, 799 thousand, and 638 thousand of cash-settled restricted stock units during 2011, 2010, and 2009, respectively.", + "NOTE 17.", + "EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Regions has a defined-benefit pension plan (the \u201cpension plan\u201d) covering only certain employees as the pension plan is closed to new entrants.", + "Benefits under the pension plan are based on years of service and the employee\u2019s highest five years of compensation during the last ten years of employment.", + "Regions\u2019 funding policy is to contribute annually at least the amount required by Internal Revenue Service minimum funding standards.", + "Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.", + "The Company also sponsors a supplemental executive retirement program (the \u201cSERP\u201d), which is a non-qualified plan that provides certain senior executive officers defined benefits in relation to their compensation.", + "Regions also sponsors defined-benefit postretirement health care plans that cover certain retired employees.", + "For these certain employees retiring before normal retirement age, the Company currently pays a portion of the costs of certain health care benefits until the retired employee becomes eligible for Medicare.", + "Certain retirees, participating in plans of acquired entities, are offered a Medicare supplemental benefit.", + "The plan is contributory and contains other cost-sharing features such as deductibles and co-payments.", + "Retiree health care benefits, as well as similar benefits for active employees, are provided through a self-insured program in which Company and retiree costs are based on the amount of benefits paid.", + "The Company\u2019s policy is to fund the Company\u2019s share of the cost of health care benefits in amounts determined at the discretion of management.", + "Postretirement life insurance is also provided to a grandfathered group of employees and retirees.", + "Actuarially determined pension expense is charged to current operations using the projected unit credit method.", + "All defined-benefit plans are referred to as \u201cthe plans\u201d throughout the remainder of this footnote.", + "Mortgage Income Mortgage income is generated through the origination and servicing of residential mortgage loans for long-term investors and sales of residential mortgage loans in the secondary market.", + "The decrease in mortgage income during 2018 compared to 2017 was due to lower production, tighter margins and a reduction in the valuation of mortgage servicing rights and related hedges.", + "The decreases were partially offset by increases in mortgage servicing income as a result of purchasing the rights to service a total of approximately $6.1 billion in residential mortgage loans during 2018.", + "See Note 7 \"Servicing of Financial Assets\" to the consolidated financial statements for more information.", + "Investment Services Fee Income Investment services fee income represents income earned through investment advisory services, the primary revenue streams of which include sales of annuity and brokerage products.", + "The increase in investment services fees during 2018 compared to 2017 was driven primarily by improved productivity as the result of hiring additional financial advisors.", + "Bank-owned Life Insurance Bank-owned life insurance decreased in 2018 compared to 2017 primarily due to reduced claims benefits throughout the year, as well as valuation declines in the fourth quarter of 2018 related to market volatility.", + "Securities Gains, net Net securities gains primarily result from the Company's asset/liability management process and the sale of certain securities held for employee benefit purposes.", + "See Note 4 \"Securities\" to the consolidated financial statements for more information.", + "Market Value Adjustments on Employee Benefit Assets Market value adjustments on employee benefit assets, both defined benefit and other, are the reflection of market value variations related to assets held for certain employee benefits.", + "The adjustments reported as employee benefit assets - other are offset in salaries and benefits expense.", + "Other Miscellaneous Income Other miscellaneous income includes net revenue from affordable housing, valuation adjustments to equity investments, fees from safe deposit boxes, check fees and other miscellaneous income.", + "Net revenue from affordable housing includes actual gains and losses resulting from the sale of affordable housing investments, cash distributions from the investments and any related impairment charges.", + "Other miscellaneous income increased in 2018 compared to 2017 primarily due to net gains associated with the sale of certain low income housing tax credit investments, increases in the value of equity investments, and decreases in net impairment charges related to certain operating lease assets.", + "NON-INTEREST EXPENSE Table 6\u2014Non-Interest Expense from Continuing Operations", + "||Year Ended December 31|Change 2018 vs. 2017|\n||2018|2017|2016|Amount|Percent|\n||(Dollars in millions)|\n|Salaries and employee benefits|$1,947|$1,874|$1,842|$73|3.9%|\n|Net occupancy expense|335|339|342|-4|-1.2%|\n|Furniture and equipment expense|325|326|312|-1|-0.3%|\n|Outside services|187|172|154|15|8.7%|\n|Professional, legal and regulatory expenses|119|93|92|26|28.0%|\n|Marketing|92|93|101|-1|-1.1%|\n|FDIC insurance assessments|85|108|99|-23|-21.3%|\n|Branch consolidation, property and equipment charges|11|22|58|-11|-50.0%|\n|Visa class B shares expense|10|19|15|-9|-47.4%|\n|Provision (credit) for unfunded credit losses|-2|-16|17|14|-87.5%|\n|Loss on early extinguishment of debt|\u2014|\u2014|14|\u2014|NM|\n|Other miscellaneous expenses|461|461|437|\u2014|\u2014%|\n||$3,570|$3,491|$3,483|$79|2.3%|\n", + "unrealized gains and losses on cash flow hedges, unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions.", + "Treasury Stock \u2013 We account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders\u2019 equity.", + "We reissue common stock held in treasury only for limited purposes.", + "Noncontrolling Interest \u2013 In 2011, we made an investment in a company in which we acquired a controlling financial interest, but not 100 percent of the equity.", + "In 2013, we purchased additional shares of the company from the minority shareholders.", + "Further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements.", + "Accounting Pronouncements \u2013 Effective January 1, 2013, we adopted the FASB\u2019s Accounting Standard Updates (ASUs) requiring reporting of amounts reclassified out of accumulated other comprehensive income (OCI) and balance sheet offsetting between derivative assets and liabilities.", + "These ASUs only change financial statement disclosure requirements and therefore do not impact our financial position, results of operations or cash flows.", + "See Note 12 for disclosures relating to OCI.", + "See Note 13 for disclosures relating to balance sheet offsetting.", + "There are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.3.", + "SHARE-BASED COMPENSATION Our share-based payments primarily consist of stock options, restricted stock, restricted stock units (RSUs), and an employee stock purchase plan.", + "Share-based compensation expense is as follows (in millions):", + "|For the Years Ended December 31,|2013|2012|2011|\n|Stock options|$24.7|$32.4|$41.7|\n|RSUs and other|23.8|22.6|18.8|\n|Total expense, pre-tax|48.5|55.0|60.5|\n|Tax benefit related to awards|-15.6|-16.6|-17.8|\n|Total expense, net of tax|$32.9|$38.4|$42.7|\n", + "Share-based compensation cost capitalized as part of inventory for the years ended December 31, 2013, 2012 and 2011 was $4.1 million, $6.1 million, and $8.8 million, respectively.", + "As of December 31, 2013 and 2012, approximately $2.4 million and $3.3 million of capitalized costs remained in finished goods inventory.", + "Stock Options We had two equity compensation plans in effect at December 31, 2013: the 2009 Stock Incentive Plan (2009 Plan) and the Stock Plan for Non-Employee Directors.", + "The 2009 Plan succeeded the 2006 Stock Incentive Plan (2006 Plan) and the TeamShare Stock Option Plan (TeamShare Plan).", + "No further awards have been granted under the 2006 Plan or under the TeamShare Plan since May 2009, and shares remaining available for grant under those plans have been merged into the 2009 Plan.", + "Vested and unvested stock options and unvested restricted stock and RSUs previously granted under the 2006 Plan, the TeamShare Plan and another prior plan, the 2001 Stock Incentive Plan, remained outstanding as of December 31, 2013.", + "We have reserved the maximum number of shares of common stock available for award under the terms of each of these plans.", + "We have registered 57.9 million shares of common stock under these plans.", + "The 2009 Plan provides for the grant of nonqualified stock options and incentive stock options, long-term performance awards in the form of performance shares or units, restricted stock, RSUs and stock appreciation rights.", + "The Compensation and Management Development Committee of the Board of Directors determines the grant date for annual grants under our equity compensation plans.", + "The date for annual grants under the 2009 Plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year.", + "The Stock Plan for Non-Employee Directors provides for awards of stock options, restricted stock and RSUs to non-employee directors.", + "It has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares, except in limited circumstances where they are issued from treasury stock.", + "The total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited.", + "At December 31, 2013, an aggregate of 10.4 million shares were available for future grants and awards under these plans.", + "Stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years.", + "As established under our equity compensation plans, vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met.", + "We recognize expense related to stock options on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates.", + "Due to the accelerated retirement provisions, the requisite service period of our stock options range from one to four years.", + "Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise." + ], + "question_id": "simplong-test-107", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "in december 2016 the nclc issued senior unsecured notes due december 2021 , what is the payment they will receive on december 2021?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) 102 Employee Stock Purchase Plans Under the ESPP, substantially all employees may purchase Applied common stock through payroll deductions at a price equal to 85 percent of the lower of the fair market value of Applied common stock at the beginning or end of each 6-month purchase period, subject to certain limits.", + "Based on the Black-Scholes option pricing model, the weighted average estimated fair value of purchase rights under the ESPP was $3.08 per share for the year ended October 27, 2013, $2.73 per share for the year ended October 28, 2012 and $3.03 per share for the year ended October 30, 2011.", + "The number of shares issued under the ESPP during fiscal 2013, 2012 and 2011 was 7 million, 7 million and 6 million, respectively.", + "At October 27, 2013, there were 40 million available for future issuance under the ESPP.", + "Compensation expense is calculated using the fair value of the employees\u2019 purchase rights under the Black-Scholes model.", + "Underlying assumptions used in the model for fiscal 2013, 2012 and 2011 are outlined in the following table:", + "||2013|2012|2011|\n|ESPP:||||\n|Dividend yield|2.80%|3.01%|2.53%|\n|Expected volatility|24.8%|29.6%|31.1%|\n|Risk-free interest rate|0.09%|0.13%|0.09%|\n|Expected life (in years)|0.5|0.5|0.5|\n", + "Note 13 Employee Benefit Plans Employee Bonus Plans Applied has various employee bonus plans.", + "A discretionary bonus plan provides for the distribution of a percentage of pre\u0002tax income to Applied employees who are not participants in other performance-based incentive plans, up to a maximum percentage of eligible compensation.", + "Other plans provide for bonuses to Applied\u2019s executives and other key contributors based on the achievement of profitability and/or other specified performance criteria.", + "Charges under these plans were $269 million for fiscal 2013, $271 million for fiscal 2012, and $319 million charges for fiscal 2011.", + "Employee Savings and Retirement Plan Applied\u2019s Employee Savings and Retirement Plan (the 401(k) Plan) is qualified under Sections 401(a) and (k) of the Internal Revenue Code (the Code).", + "Effective as of the close of the stock market on December 31, 2012, the Varian-sponsored 401(k) plan was merged with and into the 401(k) Plan, with the 401(k) Plan being the surviving plan.", + "Eligible employees may make salary deferral and catch-up contributions under the 401(k) Plan on a pre-tax basis and/or (effective as of the first payroll period beginning on or after December 22, 2012) on a Roth basis, subject to an annual dollar limit established by the Code.", + "Applied matches 100% of participant salary and/or Roth deferral contributions up to the first 3% of eligible contribution and then 50% of every dollar between 4% and 6% of eligible contribution.", + "Applied does not make matching contributions on any catch-up contributions made by participants.", + "Plan participants who were employed by Applied or any of its affiliates on or after January 1, 2010 became 100% vested in their Applied matching contribution account balances.", + "Applied\u2019s matching contributions under the 401(k) Plan were approximately $29 million, net of $1 million in forfeitures for fiscal 2013, $37 million for fiscal 2012 and $27 million for fiscal 2011.", + "PART I Item 1: Business Incorporated in 1967, Applied, a Delaware corporation, provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.", + "Applied\u2019s customers include manufacturers of semiconductor wafers and chips, flat panel liquid crystal and other displays, solar PV cells and modules, and other electronic devices.", + "These customers may use what they manufacture in their own end products or sell the items to other companies for use in advanced electronic components.", + "Applied\u2019s fiscal year ends on the last Sunday in October.", + "Applied operates in four reportable segments: Silicon Systems Group, Applied Global Services, Display, and Energy and Environmental Solutions.", + "Applied manages its business based upon these segments.", + "A summary of financial information for each reportable segment is found in Note 16 of Notes to Consolidated Financial Statements.", + "A discussion of factors that could affect operations is set forth under \u201cRisk Factors\u201d in Item 1A, which is incorporated herein by reference.", + "Net sales by reportable segment for the past three fiscal years were as follows:", + "||2014|2013|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$5,978|66%|$4,775|64%|$5,536|64%|\n|Applied Global Services|2,200|24%|2,023|27%|2,285|26%|\n|Display|615|7%|538|7%|473|5%|\n|Energy and Environmental Solutions|279|3%|173|2%|425|5%|\n|Total|$9,072|100%|$7,509|100%|$8,719|100%|\n", + "Silicon Systems Group Segment The Silicon Systems Group segment develops, manufactures and sells manufacturing equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs).", + "Most chips are built on a silicon wafer base and include a variety of circuit components, such as transistors and other devices, that are connected by multiple layers of wiring (interconnects).", + "Applied offers systems that perform various processes used in chip fabrication, including chemical vapor deposition (CVD), physical vapor deposition (PVD), etch, electrochemical deposition (ECD), rapid thermal processing (RTP), ion implantation, chemical mechanical planarization (CMP), epitaxy (Epi), wet cleaning, atomic layer deposition (ALD), wafer metrology and inspection, and systems that etch or inspect circuit patterns on masks used in the photolithography process.", + "Applied\u2019s semiconductor manufacturing systems are used by integrated device manufacturers and foundries to build and package memory, logic and other types of chips.", + "The majority of the Company's new equipment sales are for leading-edge technology for advanced 2X nanometer (nm) nodes and smaller dimensions.", + "To build a chip, the transistors, capacitors and other circuit components are first created on the surface of the wafer by performing a series of processes to deposit and selectively remove portions of successive film layers.", + "Similar processes are then used to build the layers of wiring structures on the wafer.", + "As the density of the circuit components increases to enable greater computing capability in the same or smaller physical area, the complexity of building the chip also increases, necessitating more process steps to form smaller transistor structures and more intricate wiring schemes.", + "Advanced chip designs require more than 500 steps involving these and other processes to complete the manufacturing cycle.", + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The following table summarizes information with respect to options outstanding and exercisable at October 26, 2014:", + "||Options Outstanding|Options Exercisable|\n|Range ofExercise Prices|Number ofShares (In millions)|WeightedAverageExercisePrice|WeightedAverageRemainingContractualLife (In years)|AggregateIntrinsicValue (In millions)|Number ofShares (In millions)|WeightedAverageExercisePrice|AggregateIntrinsicValue (In millions)|\n|$3.36 \u2014 $9.99|1|$5.31|1.81|$12|1|$5.30|$12|\n|$10.00 \u2014 $15.06|1|$14.96|5.59|7|\u2014|$14.71|2|\n||2|$10.87|3.99|$19|1|$7.97|$14|\n|Options exercisable and expected to become exercisable|2|$10.87|3.99|$19||||\n", + "Option prices at the lower end of the range were principally attributable to stock options assumed in connection with the Varian acquisition in fiscal year 2012.", + "Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units Restricted stock units are converted into shares of Applied common stock upon vesting on a one-for-one basis.", + "Restricted stock has the same rights as other issued and outstanding shares of Applied common stock except these shares generally have no right to dividends and are held in escrow until the award vests.", + "Performance shares and performance units are awards that result in a payment to a grantee, generally in shares of Applied common stock on a one-for-one basis if performance goals and/or other vesting criteria established by the Human Resources and Compensation Committee of Applied's Board of Directors (the Committee) are achieved or the awards otherwise vest.", + "Restricted stock units, restricted stock, performance shares and performance units typically vest over four years and vesting is usually subject to the grantee\u2019s continued service with Applied and, in some cases, achievement of specified performance goals.", + "The compensation expense related to the service-based awards is determined using the fair market value of Applied common stock on the date of the grant, and the compensation expense is recognized over the vesting period.", + "Restricted stock, performance shares and performance units granted to certain executive officers are subject to the achievement of specified performance goals (performance-based awards).", + "These performance-based awards become eligible to vest only if performance goals are achieved and then actually will vest only if the grantee remains employed by Applied through each applicable vesting date.", + "These performance-based awards require the achievement of targeted levels of adjusted annual operating profit margin.", + "For the fiscal 2013 performance-based awards, additional shares become eligible for time-based vesting if Applied achieves certain levels of total shareholder return (TSR) relative to a peer group, comprised of companies in the Standard & Poor's 500 Information Technology Index, measured at the end of a two-year period.", + "The fair value of these performance-based awards is estimated on the date of grant and assumes that the specified performance goals will be achieved.", + "If the goals are achieved, these awards vest over a specified remaining service period of generally three or four years, provided that the grantee remains employed by Applied through each scheduled vesting date.", + "If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed.", + "The expected cost of each award is reflected over the service period and is reduced for estimated forfeitures.", + "Fiscal 2012 was characterized by significant fluctuations in demand for semiconductor equipment, coupled with an extremely weak market environment for display and solar equipment.", + "Applied completed its acquisition of Varian Semiconductor Equipment Associates, Inc. (Varian) in the first quarter of fiscal 2012.", + "Mobility was the greatest influence on semiconductor industry spending in fiscal 2012.", + "Investment levels for display equipment were low in fiscal 2012 due to decreased capacity requirements for larger flat panel televisions, while demand for mobility products, such as smartphones and tablets, significantly influenced equipment spending.", + "In the solar industry, fiscal 2012 was characterized by excess manufacturing capacity, which led to significantly reduced demand for crystalline-silicon (c-Si) equipment, as well as weak operating performance and outlook.", + "New Orders New orders by reportable segment for the past three fiscal years were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$6,132|64%|11%|$5,507|65%|4%|$5,294|66%|\n|Applied Global Services|2,433|25%|16%|2,090|25%|-8%|2,274|28%|\n|Display|845|9%|20%|703|8%|157%|274|4%|\n|Energy and Environmental Solutions|238|2%|43%|166|2%|-15%|195|2%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "New orders increased in fiscal 2014 from fiscal 2013 across all segments, primarily due to higher demand for semiconductor equipment, semiconductor spares and services, and display equipment.", + "New orders for the Silicon Systems Group and Applied Global Services continued to comprise a majority of Applied's consolidated total new orders.", + "New orders for fiscal 2013 increased compared to fiscal 2012, primarily due to a recovery in demand for display manufacturing equipment and increased demand in semiconductor equipment, partially offset by lower demand for service products, as well as depressed demand for c-Si solar equipment due to excess manufacturing capacity in the solar industry.", + "New orders by geographic region, determined by the product shipment destination specified by the customer, were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Taiwan|$2,740|28%|-5%|$2,885|34%|34%|$2,155|27%|\n|China|1,517|16%|13%|1,339|16%|232%|403|5%|\n|Korea|1,086|11%|19%|915|11%|-49%|1,784|22%|\n|Japan|1,031|11%|25%|822|10%|37%|600|7%|\n|Southeast Asia|412|4%|17%|351|4%|24%|283|4%|\n|Asia Pacific|6,786|70%|8%|6,312|75%|21%|5,225|65%|\n|United States|2,200|23%|55%|1,419|17%|-29%|1,995|25%|\n|Europe|662|7%|-10%|735|8%|-10%|817|10%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "The changes in new orders from customers in the United States, Japan, Taiwan and Korea for fiscal 2014 compared to fiscal 2013 primarily reflected changes in customers mix in the Silicon Systems Group, while the increase in new orders from China resulted from increased demand from display manufacturing equipment.", + "The recovery in demand for display manufacturing equipment in fiscal 2013 led to the increase in new orders from customers in China.", + "The change in the composition of new orders from customers in Taiwan, Korea, Japan and the United States was primarily related to changes in customer demand for semiconductor equipment.", + "New Term Loan A Facility, with the remaining unpaid principal amount of loans under the New Term Loan A Facility due and payable in full at maturity on June 6, 2021.", + "Principal amounts outstanding under the New Revolving Loan Facility are due and payable in full at maturity on June 6, 2021, subject to earlier repayment pursuant to the springing maturity date described above.", + "In addition to paying interest on outstanding principal under the borrowings, we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio, with a maximum commitment fee of 40% of the applicable margin for Eurocurrency loans.", + "In July 2016, Breakaway Four, Ltd. , as borrower, and NCLC, as guarantor, entered into a Supplemental Agreement, which amended the Breakaway four loan to, among other things, increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from \u20ac590.5 million to \u20ac729.9 million.", + "In June 2016, we took delivery of Seven Seas Explorer.", + "To finance the payment due upon delivery, we had export credit financing in place for 80% of the contract price.", + "The associated $373.6 million term loan bears interest at 3.43% with a maturity date of June 30, 2028.", + "Principal and interest payments shall be paid semiannually.", + "In December 2016, NCLC issued $700.0 million aggregate principal amount of 4.750% senior unsecured notes due December 2021 (the \u00a1\u00b0Notes\u00a1\u00b1) in a private offering (the \u00a1\u00b0Offering\u00a1\u00b1) at par.", + "NCLC used the net proceeds from the Offering, after deducting the initial purchasers\u00a1\u00af discount and estimated fees and expenses, together with cash on hand, to purchase its outstanding 5.25% senior notes due 2019 having an aggregate outstanding principal amount of $680 million.", + "The redemption of the 5.25% senior notes due 2019 was completed in January 2017.", + "NCLC will pay interest on the Notes at 4.750% per annum, semiannually on June 15 and December 15 of each year, commencing on June 15, 2017, to holders of record at the close of business on the immediately preceding June 1 and December 1, respectively.", + "NCLC may redeem the Notes, in whole or part, at any time prior to December 15, 2018, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date and a \u00a1\u00b0make-whole premium.", + "\u00a1\u00b1 NCLC may redeem the Notes, in whole or in part, on or after December 15, 2018, at the redemption prices set forth in the indenture governing the Notes.", + "At any time (which may be more than once) on or prior to December 15, 2018, NCLC may choose to redeem up to 40% of the aggregate principal amount of the Notes at a redemption price equal to 104.750% of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings, so long as at least 60% of the aggregate principal amount of the Notes issued remains outstanding following such redemption.", + "The indenture governing the Notes contains covenants that limit NCLC\u00a1\u00afs ability (and its restricted subsidiaries\u00a1\u00af ability) to, among other things: (i) incur or guarantee additional indebtedness or issue certain preferred shares; (ii) pay dividends and make certain other restricted payments; (iii) create restrictions on the payment of dividends or other distributions to NCLC from its restricted subsidiaries; (iv) create liens on certain assets to secure debt; (v) make certain investments; (vi) engage in transactions with affiliates; (vii) engage in sales of assets and subsidiary stock; and (viii) transfer all or substantially all of its assets or enter into merger or consolidation transactions.", + "The indenture governing the Notes also provides for events of default, which, if any of them occurs, would permit or require the principal, premium (if any), interest and other monetary obligations on all of the then-outstanding Notes to become due and payable immediately.", + "Interest expense, net for the year ended December 31, 2016 was $276.9 million which included $34.7 million of amortization of deferred financing fees and a $27.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2015 was $221.9 million which included $36.7 million of amortization of deferred financing fees and a $12.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2014 was $151.8 million which included $32.3 million of amortization of deferred financing fees and $15.4 million of expenses related to financing transactions in connection with the Acquisition of Prestige.", + "Certain of our debt agreements contain covenants that, among other things, require us to maintain a minimum level of liquidity, as well as limit our net funded debt-to-capital ratio, maintain certain other ratios and restrict our ability to pay dividends.", + "Substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt.", + "We believe we were in compliance with these covenants as of December 31, 2016.", + "The following are scheduled principal repayments on long-term debt including capital lease obligations as of December 31, 2016 for each of the next five years (in thousands):" + ], + "question_id": "simplong-test-108", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Capital leases of Carrying amount in 2003 and 2002? (in Thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable.", + "In the event such cash flows are not expected to be sufficient to recover the recorded value of the assets, the assets are written down to their estimated fair values (see Note 5).", + "ASSET RETIREMENT OBLIGATIONS\u2014Effective January 1, 2003, the Company adopted Statement of Financial Accounting Standards (\u2018\u2018SFAS\u2019\u2019) No.143, \u2018\u2018Accounting for Asset Retirement Obligations.", + "\u2019\u2019 SFAS No.143 requires the Company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred.", + "When a new liability is recorded the Company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset.", + "The liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset.", + "Upon settlement of the liability, the Company settles the obligation for its recorded amount or incurs a gain or loss upon settlement.", + "The Company\u2019s retirement obligations covered by SFAS No.143 include primarily active ash landfills, water treatment basins and the removal or dismantlement of certain plant and equipment.", + "As of December 31, 2003 and 2002, the Company had recorded liabilities of approximately $29 million and $15 million, respectively, related to asset retirement obligations.", + "There are no assets that are legally restricted for purposes of settling asset retirement obligations.", + "Upon adoption of SFAS No.143, the Company recorded an additional liability of approximately $13 million, a net asset of approximately $9 million, and a cumulative effect of a change in accounting principle of approximately $2 million, after income taxes.", + "Amounts recorded related to asset retirement obligations during the years ended December 31, 2003 were as follows (in millions):", + "|Balance at December 31, 2002|$15|\n|Additional liability recorded from cumulative effect of accounting change|13|\n|Accretion expense|2|\n|Change in the timing of estimated cash flows|-1|\n|Balance at December 31, 2003|$29|\n", + "Proforma net (loss) income and (loss) earnings per share have not been presented for the years ended December 31, 2002 and 2001 because the proforma application of SFAS No.143 to prior periods would result in proforma net (loss) income and (loss) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations.", + "Had SFAS 143 been applied during all periods presented the asset retirement obligation at January 1, 2001, December 31, 2001 and December 31, 2002 would have been approximately $21 million, $23 million and $28 million, respectively.", + "Included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at IPALCO amounting to $361 million and $339 million at December 31, 2003 and 2002, respectively.", + "DEFERRED FINANCING COSTS\u2014Financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method.", + "Deferred financing costs are shown net of accumulated amortization of $202 million and $173 million as of December 31, 2003 and 2002, respectively.", + "PROJECT DEVELOPMENT COSTS\u2014The Company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project\u2019s completion is probable.", + "These costs represent amounts incurred for professional services, permits, options, capitalized interest, and other costs directly related to construction.", + "These costs are transferred to construction in progress when significant construction activity commences, or expensed at the time the Company determines that development of a particular project is no longer probable (see Note 5).", + "We review and assess operating performance using segment revenues and operating income before interest, taxes and minority interest.", + "These performance measures include the allocation of expenses to the operating segments based on management judgment.", + "Prior to the third quarter of 2003, we had two reportable segments: the Core Products and Foundry Services segments.", + "Primarily as a result of the formation of FASL LLC, we re\u0002evaluated our reportable segments.", + "Beginning in the third quarter of 2003, we changed our reportable segments to: the Computation Products segment, which includes microprocessor products for desktop and mobile PCs, servers and workstations and chipset products, and the Memory Products segment, which includes Flash memory products.", + "We believe that separate reporting of these operating segments, given our new focus on FASL LLC as a separate operating company and its separate market brand\u2014Spansion, provides more useful information to our stockholders.", + "In addition to our reportable segments, we also have the All Other category that is not a reportable segment, but rather it includes other small operating segments that are neither individually nor in the aggregate greater than ten percent of our consolidated revenues or assets.", + "This category also includes certain operating expenses and credits that are not allocated to the operating segments.", + "Prior period segment information has been reclassified to conform to the current period presentation.", + "However, as FASL LLC did not exist prior to June 30, 2003, the results of operations for prior periods did not include the consolidation of FASL LLC\u2019s operations.", + "Accordingly, the segment operating information for the Memory Products segment for the year ended December 28, 2003, is not fully comparable to the reclassified segment information for all prior periods presented.", + "We use a 52- to 53-week fiscal year ending on the last Sunday in December.", + "The years ended December 28, 2003, December 29, 2002, and December 30, 2001, each included 52 weeks.", + "The following is a summary of our net sales for 2003, 2002 and 2001.", + "|| 2003| 2002| 2001|\n|| (Millions)|\n|Computation Products|$1,960|$1,756|$2,466|\n|Memory Products|1,419|741|1,133|\n|All Other|140|200|293|\n|Total|$3,519|$2,697|$3,892|\n", + "Net Sales Comparison for Years Ended December 28, 2003 and December 29, 2002 Total net sales of $3,519 million in 2003 increased 30 percent compared to net sales of $2,697 million in 2002.", + "Computation Products net sales of $1,960 million in 2003 increased 12 percent compared to net sales of $1,756 million in 2002.", + "The increase in net sales was primarily due to a 15 percent increase in microprocessor unit shipments due primarily to increased demand from our OEM customers, partially offset by a decline of four percent in the average selling prices of our microprocessor products.", + "Unit shipment growth was particularly strong in Latin America and China, which accounted for 77 percent of overall unit growth.", + "Memory Products net sales of $1,419 million in 2003 increased 92 percent compared to net sales of $741 million in 2002.", + "The increase in net sales was primarily attributable to the effect of consolidating FASL LLC\u2019s results of operations, which include FASL LLC\u2019s sales to Fujitsu, and increased demand for Flash memory products.", + "Further quantification of the breakdown in the increase in net sales is not practical due to the reorganization of geographical sales territories between AMD and Fujitsu.", + "All Other net sales of $140 million in 2003 decreased 30 percent compared to net sales of $200 million in 2002 and consisted primarily of net sales of our Personal Connectivity Solutions products.", + "The decrease was due", + "We recorded an income tax provision of $3 million in 2003, an income tax provision of $45 million in 2002 and an income tax benefit of $14 million in 2001.", + "The income tax provision in 2003 primarily reflected income tax expense generated in certain foreign tax jurisdictions, offset by a benefit of a U. S. federal tax refund from a carryback claim we filed in 2003.", + "No net tax benefit was recorded in 2003 on pre-tax losses due to continuing operating losses.", + "Our tax provision for 2003 does not reflect an increase in our net deferred tax liability of approximately $46 million.", + "This net deferred tax liability was recognized by the Japanese subsidiary of FASL LLC, FASL JAPAN, as tax expense in periods prior to our consolidation of FASL LLC on June 30, 2003, and therefore has not been recorded as a component of our tax expense for 2003.", + "The 2002 income tax provision was recorded primarily for taxes due on income generated in certain state and foreign tax jurisdictions.", + "No tax benefit was recorded in 2002 on pre-tax losses due to the establishment of a valuation allowance against the remainder of our U. S. deferred tax assets, net of U. S. deferred tax liabilities in the fourth quarter, due to the incurrence of continuing substantial operating losses in the U. S. The effective benefit rate of 15.4 percent for 2001 was less than the statutory rate because of a lower than U. S. statutory 24 percent tax benefit rate on the 2001 restructuring charges, reflecting the allocation of the charges between the U. S. and foreign lower-taxed jurisdictions, and a provision for U. S. taxes on certain previously undistributed earnings of lower-taxed foreign subsidiaries.", + "Other Items International sales as a percent of net sales were 80 percent in 2003, compared to 73 percent in 2002 and 67 percent in 2001.", + "During 2003, approximately 15 percent of our net sales were denominated in currencies other than the U. S. dollar, primarily the Japanese yen, as compared to one percent during 2002.", + "The increase was primarily due to the consolidation of FASL LLC\u2019s results of operations, which include sales by FASL LLC to Fujitsu, which are denominated in yen.", + "Our foreign exchange risk exposure resulting from these sales is partially mitigated as a result of our yen-denominated manufacturing costs.", + "In addition, we are subject to foreign currency risk related to our manufacturing costs in Fab 30, which are denominated in euros.", + "We use foreign currency forward and option contracts to reduce our exposure to the euro, but future exchange rate fluctuations may cause increases or decreases to our Fab 30 manufacturing costs.", + "The impact on our operating results from changes in foreign currency rates individually and in the aggregate has not been material, principally as a result of our foreign currency hedging activities.", + "Comparison of Operating Income (Loss) The following is a summary of operating income (loss) for 2003, 2002 and 2001:", + "||2003|2002|2001|\n||(Millions)|\n|Computation Products|$-23|$-661|$-191|\n|Memory Products|-189|-159|268|\n|All Other|-21|-405|-135|\n|Total|$-233|$-1,225|$-58|\n", + "Computation Products operating loss of $23 million in 2003 improved by $638 million compared to $661 million in 2002.", + "The improvement was primarily due to incremental net sales of $204 million and a decrease in both manufacturing costs of $330 million and marketing, general and administrative expenses of $39 million, which resulted primarily from our cost reduction initiatives and the 2002 Restructuring Plan.", + "In addition, cooperative advertising and marketing expenses decreased by $55 million from 2002.", + "Computation Products operating loss of $661 million in 2002 increased by $470 million compared to $191 million in 2001 primarily due to a decrease in net sales.", + "The decrease was primarily due to a decline in average selling prices of 13 percent and a decline in unit sales of 16 percent for microprocessors as a result of the sustained downturn in the PC industry.", + "The amortized cost and estimated fair value of available-for-sale marketable securities at December 28, 2003, by contractual maturity, are shown below.", + "Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.", + "The Company does not have any available-for-sale marketable securities with maturities greater than five years from December 28, 2003.", + "|| Amortized Cost| Estimated Fair Value|\n|| (thousands)|\n|Due in one year or less|$119,105|$119,191|\n|Due after one year through five years|8,387|8,372|\n|Total|$127,492|$127,563|\n", + "The Company realized net gains from the sale of available-for-sale securities of $3.7 million and $5.3 million in 2003 and 2002, and net losses of $1.6 million in 2001.", + "At December 28, 2003 and December 29, 2002, the Company had approximately $12 million and $13 million of investments classified as held to maturity, consisting of commercial paper and treasury notes used for long-term workers\u2019 compensation and leasehold deposits, that are included in other assets.", + "The fair market value of these investments approximates their cost at December 28, 2003 and December 29, 2002.", + "The compensating balance of $218 million at December 28, 2003 represents the minimum cash balance that AMD Saxony must maintain pursuant to the terms of the Dresden Loan Agreements (see Notes 7 and 12).", + "Included in other current assets is $22 million of restricted cash associated with the advance receipt of interest subsidies from the Federal Republic of Germany and the State of Saxony.", + "Restrictions over the Company\u2019s access to the restricted cash will lapse as the Company incurs qualifying interest expense on the Dresden term loans (see Notes 7 and 12) over the next four quarters.", + "Fair Value of Other Financial Instruments.", + "The Company estimates the fair value of its debt instruments using a discounted cash flow analysis based on estimated interest rates for similar types of currently available instruments with similar remaining maturities.", + "The carrying amounts and estimated fair values of the Company\u2019s debt instruments are as follows:", + "|| 2003| 2002|\n|| Carrying amount| Estimated Fair Value| Carrying amount| Estimated Fair Value|\n|| (Thousands)|\n|Notes payable to banks|$\u2014|$\u2014|$913|$913|\n|Long-term debt and capital leases:|||||\n|Capital leases|245,958|244,641|40,321|37,229|\n|Long-term debt (excluding capital leases)|1,846,982|1,846,982|1,599,734|1,599,734|\n|Total long-term debt and capital leases|2,092,940|2,091,623|1,640,055|1,636,963|\n|Less: current portion|193,266|192,725|71,348|70,192|\n|Total long-term debt and capital leases, less current portion|$1,899,674|$1,898,898|$1,568,707|$1,566,771|\n", + "The fair value of the Company\u2019s accounts receivable and accounts payable approximate book value based on existing payment terms." + ], + "question_id": "simplong-test-109", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Net interest income develops with the same increasing rate in 2010, what will it reach in 2011? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table 7 Five Year Summary of Selected Financial Data", + "|Table 7|Five Year Summary of Selected Financial Data||||||\n|(In millions, except per share information)|2011|2010|2009|2008|2007|\n|Income statement||||||\n|Net interest income|$44,616|$51,523|$47,109|$45,360|$34,441|\n|Noninterest income|48,838|58,697|72,534|27,422|32,392|\n|Total revenue, net of interest expense|93,454|110,220|119,643|72,782|66,833|\n|Provision for credit losses|13,410|28,435|48,570|26,825|8,385|\n|Goodwill impairment|3,184|12,400|\u2014|\u2014|\u2014|\n|Merger and restructuring charges|638|1,820|2,721|935|410|\n|All other noninterest expense-1|76,452|68,888|63,992|40,594|37,114|\n|Income (loss) before income taxes|-230|-1,323|4,360|4,428|20,924|\n|Income tax expense (benefit)|-1,676|915|-1,916|420|5,942|\n|Net income (loss)|1,446|-2,238|6,276|4,008|14,982|\n|Net income (loss) applicable to common shareholders|85|-3,595|-2,204|2,556|14,800|\n|Average common shares issued and outstanding|10,143|9,790|7,729|4,592|4,424|\n|Average diluted common shares issued and outstanding-2|10,255|9,790|7,729|4,596|4,463|\n|Performance ratios||||||\n|Return on average assets|0.06%|n/m|0.26%|0.22%|0.94%|\n|Return on average common shareholders\u2019 equity|0.04|n/m|n/m|1.80|11.08|\n|Return on average tangible common shareholders\u2019 equity-3|0.06|n/m|n/m|4.72|26.19|\n|Return on average tangible shareholders\u2019 equity-3|0.96|n/m|4.18|5.19|25.13|\n|Total ending equity to total ending assets|10.81|10.08%|10.38|9.74|8.56|\n|Total average equity to total average assets|9.98|9.56|10.01|8.94|8.53|\n|Dividend payout|n/m|n/m|n/m|n/m|72.26|\n|Per common share data||||||\n|Earnings (loss)|$0.01|$-0.37|$-0.29|$0.54|$3.32|\n|Diluted earnings (loss)(2)|0.01|-0.37|-0.29|0.54|3.29|\n|Dividends paid|0.04|0.04|0.04|2.24|2.40|\n|Book value|20.09|20.99|21.48|27.77|32.09|\n|Tangible book value-3|12.95|12.98|11.94|10.11|12.71|\n|Market price per share of common stock||||||\n|Closing|$5.56|$13.34|$15.06|$14.08|$41.26|\n|High closing|15.25|19.48|18.59|45.03|54.05|\n|Low closing|4.99|10.95|3.14|11.25|41.10|\n|Market capitalization|$58,580|$134,536|$130,273|$70,645|$183,107|\n|Average balance sheet||||||\n|Total loans and leases|$938,096|$958,331|$948,805|$910,871|$776,154|\n|Total assets|2,296,322|2,439,606|2,443,068|1,843,985|1,602,073|\n|Total deposits|1,035,802|988,586|980,966|831,157|717,182|\n|Long-term debt|421,229|490,497|446,634|231,235|169,855|\n|Common shareholders\u2019 equity|211,709|212,686|182,288|141,638|133,555|\n|Total shareholders\u2019 equity|229,095|233,235|244,645|164,831|136,662|\n|Asset quality-4||||||\n|Allowance for credit losses-5|$34,497|$43,073|$38,687|$23,492|$12,106|\n|Nonperforming loans, leases and foreclosed properties-6|27,708|32,664|35,747|18,212|5,948|\n|Allowance for loan and lease losses as a percentage of total loans and leases outstanding-6|3.68%|4.47%|4.16%|2.49%|1.33%|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases-6|135|136|111|141|207|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leasesexcluding the PCI loan portfolio-6|101|116|99|136|n/a|\n|Amounts included in allowance that are excluded from nonperforming loans-7|$17,490|$22,908|$17,690|$11,679|$6,520|\n|Allowances as a percentage of total nonperforming loans and leases excluding the amountsincluded in the allowance that are excluded from nonperforming loans-7|65%|62%|58%|70%|91%|\n|Net charge-offs|$20,833|$34,334|$33,688|$16,231|$6,480|\n|Net charge-offs as a percentage of average loans and leases outstanding-6|2.24%|3.60%|3.58%|1.79%|0.84%|\n|Nonperforming loans and leases as a percentage of total loans and leases outstanding-6|2.74|3.27|3.75|1.77|0.64|\n|Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leasesand foreclosed properties-6|3.01|3.48|3.98|1.96|0.68|\n|Ratio of the allowance for loan and lease losses at December 31 to net charge-offs|1.62|1.22|1.10|1.42|1.79|\n|Capital ratios (year end)||||||\n|Risk-based capital:||||||\n|Tier 1 common|9.86%|8.60%|7.81%|4.80%|4.93%|\n|Tier 1|12.40|11.24|10.40|9.15|6.87|\n|Total|16.75|15.77|14.66|13.00|11.02|\n|Tier 1 leverage|7.53|7.21|6.88|6.44|5.04|\n|Tangible equity-3|7.54|6.75|6.40|5.11|3.73|\n|Tangible common equity-3|6.64|5.99|5.56|2.93|3.46|\n", + "(1) Excludes merger and restructuring charges and goodwill impairment charges.", + "(2) Due to a net loss applicable to common shareholders for 2010 and 2009, the impact of antidilutive equity instruments was excluded from diluted earnings (loss) per share and average diluted common shares.", + "(3) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "Other companies may define or calculate these measures differently.", + "For additional information on these ratios and corresponding reconciliations to GAAP financial measures, see Supplemental Financial Data on page 32 and Table XV.", + "(4) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 75 and Commercial Portfolio Credit Risk Management on page 88.", + "(5) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(6) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions on nonperforming loans, leases and foreclosed properties, see Nonperforming Consumer Loans and Foreclosed Properties Activity on page 86 and corresponding Table 36 and Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 94 and corresponding Table 45.", + "(7) Amounts included in allowance that are excluded from nonperforming loans primarily include amounts allocated to Card Services portfolios, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "n/m = not meaningful n/a = not applicable", + "During the twelve months ended December 31, 2017, 2016 and 2015, we paid cash dividends to Equifax shareholders of $187.4 million, $157.6 million and $137.8 million, respectively, at $1.56 per share for 2017, $1.32 per share for 2016 and $1.16 per share for 2015.", + "We anticipate continuing the payment of quarterly cash dividends.", + "The actual amount of such dividends is subject to declaration by our Board of Directors and will depend upon future earnings, results of operations, capital requirements, our financial condition and other relevant factors.", + "There can be no assurance that the Company will continue to pay quarterly cash dividends at current levels or at all.", + "Contractual Obligations and Commercial Commitments The following table summarizes our significant contractual obligations and commitments as of December 31, 2017.", + "The table excludes commitments that are contingent based on events or factors uncertain at this time.", + "Some of the excluded commitments are discussed below the footnotes to the table.", + "||Payments due by|\n||Total|Less than 1 year|1 to 3 years|3 to 5 years|Thereafter|\n||(In millions)|\n|Debt (including capitalized lease obligation)(1)|$2,715.3|$965.3|$100.0|$1,000.0|$650.0|\n|Operating leases-2|150.0|27.3|38.9|28.6|55.2|\n|Data processing, outsourcing agreements and other purchase obligations-3|157.1|85.4|41.3|14.0|16.4|\n|Other long-term liabilities-4 (5)|143.2|9.1|18.1|18.9|97.1|\n|Product liability related to cybersecurity incident-6|27.1|27.1|\u2014|\u2014|\u2014|\n|Interest payments-7|647.3|75.4|131.2|108.9|331.8|\n||$3,840.0|$1,189.6|$329.5|$1,170.4|$1,150.5|\n", + "(1) The amounts are gross of unamortized discounts totaling $11.0 million at December 31, 2017.", + "Total debt on our Consolidated Balance Sheets is net of the unamortized discounts and fair value adjustments.", + "There were no fair value adjustments to our debt at December 31, 2017.", + "(2) Our operating lease obligations principally involve office space and equipment, which include the ground lease associated with our headquarters building that expires in 2048.", + "(3) These agreements primarily represent our minimum contractual obligations for services that we outsource associated with our computer data processing operations and related functions, and certain administrative functions.", + "These agreements expire between 2018 and 2022.", + "(4) These long-term liabilities primarily relate to obligations associated with certain pension, postretirement and other compensation-related plans, some of which are discounted in accordance with U. S. generally accepted accounting principles, or GAAP.", + "We made certain assumptions about the timing of such future payments.", + "In the table above, we have not included amounts related to future pension plan obligations, as such required funding amounts beyond 2018 have not been deemed necessary due to our current expectations regarding future plan asset performance.", + "(5) This table excludes $38.0 million of unrecognized tax benefits, including interest and penalties, as we cannot make a reasonably reliable estimate of the period of cash settlement with the respective taxing authorities.", + "(6) As a result of the cybersecurity incident, we offered free credit file monitoring and identity theft protection to all U. S. consumers.", + "We have recorded the expenses necessary to provide this service to those who signed up by the January 31, 2018 deadline.", + "The amount above represents the remaining obligation associated with these expenses.", + "(7) For future interest payments on variable-rate debt, which are generally based on a specified margin plus a base rate (LIBOR) or on CP, the Revolver and Term Loan rates for investment grade issuers, we used the variable rate in effect at December 31, 2017 to calculate these payments.", + "Our variable rate debt at December 31, 2017, consisted of CP, the", + "Entergy Corporation and Subsidiaries Notes to Financial Statements equitable discretion and not require refunds for the 20-month period from September 13, 2001 - May 2, 2003.", + "Because the ruling on refunds relied on findings in the interruptible load proceeding, which is discussed in a separate section below, the FERC concluded that the refund ruling will be held in abeyance pending the outcome of the rehearing requests in that proceeding.", + "On the second issue, the FERC reversed its prior decision and ordered that the prospective bandwidth remedy begin on June 1, 2005 (the date of its initial order in the proceeding) rather than January 1, 2006, as it had previously ordered.", + "Pursuant to the October 2011 order, Entergy was required to calculate the additional bandwidth payments for the period June - December 2005 utilizing the bandwidth formula tariff prescribed by the FERC that was filed in a December 2006 compliance filing and accepted by the FERC in an April 2007 order.", + "As is the case with bandwidth remedy payments, these payments and receipts will ultimately be paid by Utility operating company customers to other Utility operating company customers.", + "In December 2011, Entergy filed with the FERC its compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC\u2019s October 2011 order.", + "The filing shows the following payments/receipts among the Utility operating companies:", + "||Payments(Receipts) (In Millions)|\n|Entergy Arkansas|$156|\n|Entergy Gulf States Louisiana|-$75|\n|Entergy Louisiana|$\u2014|\n|Entergy Mississippi|-$33|\n|Entergy New Orleans|-$5|\n|Entergy Texas|-$43|\n", + "Entergy Arkansas made its payment in January 2012.", + "In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22-month period from March 2012 through December 2013.", + "In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund.", + "The LPSC and the APSC have requested rehearing of the FERC\u2019s October 2011 order.", + "In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D. C. Circuit.", + "In its petition, the LPSC requested that the D. C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests.", + "In its response to the LPSC petition, the FERC committed to rule on the pending rehearing request before the end of February.", + "In January 2014 the D. C. Circuit denied the LPSC's petition.", + "The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests.", + "Calendar Year 2013 Production Costs The liabilities and assets for the preliminary estimate of the payments and receipts required to implement the FERC\u2019s remedy based on calendar year 2013 production costs were recorded in December 2013, based on certain year-to-date information.", + "The preliminary estimate was recorded based on the following estimate of the payments/receipts among the Utility operating companies for 2014.", + "competition are rent charged, attractiveness of location, the quality of the property and breadth and quality of services provided.", + "Our success depends upon, among other factors, trends of the national, regional and local economies, financial condition and operating results of current and prospective tenants and customers, availability and cost of capital, construction and renovation costs, taxes, governmental regulations, legislation and population trends.", + "We may incur costs to comply with environmental laws.", + "Our operations and properties are subject to various federal, state and local laws and regulations concerning the protection of the environment, including air and water quality, hazardous or toxic substances and health and safety.", + "Under some environ\u0002mental laws, a current or previous owner or operator of real estate may be required to investigate and clean up hazardous or toxic substances released at a property.", + "The owner or operator may also be held liable to a governmental entity or to third par\u0002ties for property damage or personal injuries and for investigation and clean-up costs incurred by those parties because of the contamination.", + "These laws often impose liability without regard to whether the owner or operator knew of the release of the substances or caused the release.", + "The presence of contamination or the failure to remediate contamination may impair our ability to sell or lease real estate or to borrow using the real estate as collateral.", + "Other laws and regulations govern indoor and outdoor air quality including those that can require the abatement or removal of asbestos-containing materials in the event of damage, demolition, renovation or remodeling and also govern emissions of and exposure to asbestos fibers in the air.", + "The maintenance and removal of lead paint and certain electrical equipment containing polychlorinated biphenyls (PCBs) and underground storage tanks are also regulated by federal and state laws.", + "We are also subject to risks associated with human exposure to chemical or biological contaminants such as molds, pollens, viruses and bacteria which, above certain levels, can be alleged to be connected to allergic or other health effects and symptoms in susceptible individuals.", + "We could incur fines for environmental compliance and be held liable for the costs of remedial action with respect to the foregoing regulated sub\u0002stances or tanks or related claims arising out of environmental contamination or human exposure at or from our properties.", + "Each of our properties has been subjected to varying degrees of environmental assessment.", + "The environmental assessments did not, as of this date, reveal any environmental condition material to our business.", + "However, identification of new compliance concerns or undiscovered areas of contamination, changes in the extent or known scope of contamination, discovery of addi\u0002tional sites, human exposure to the contamination or changes in cleanup or compliance requirements could result in significant costs to us.", + "Some of our potential losses may not be covered by insurance.", + "We carry commercial liability and all risk property insurance ((i) fire, (ii) flood, (iii) extended coverage, (iv) \u201cacts of terrorism\u201d as defined in the Terrorism Risk Insurance Extension Act of 2005, which expires in 2007 and (v) rental loss insurance) with respect to our assets.", + "Below is a summary of the current all risk property insurance and terrorism risk insurance in effect through September 2007 for each of the following business segments:" + ], + "question_id": "simplong-test-110", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Interest cost on benefit obligation of U.S. plans for Pension plans in 2016 and Operating and maintenance in 2009? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Liquidity Monitoring and Measurement Stress Testing Liquidity stress testing is performed for each of Citi\u2019s major entities, operating subsidiaries and/or countries.", + "Stress testing and scenario analyses are intended to quantify the potential impact of a liquidity event on the balance sheet and liquidity position, and to identify viable funding alternatives that can be utilized.", + "These scenarios include assumptions about significant changes in key funding sources, market triggers (such as credit ratings), potential uses of funding and political and economic conditions in certain countries.", + "These conditions include expected and stressed market conditions as well as Company\u0002specific events.", + "Liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons (overnight, one week, two weeks, one month, three months, one year) and over a variety of stressed conditions.", + "Liquidity limits are set accordingly.", + "To monitor the liquidity of an entity, these stress tests and potential mismatches are calculated with varying frequencies, with several tests performed daily.", + "Given the range of potential stresses, Citi maintains a series of contingency funding plans on a consolidated basis and for individual entities.", + "These plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses.", + "Short-Term Liquidity Measurement: Liquidity Coverage Ratio (LCR) In addition to internal measures that Citi has developed for a 30-day stress scenario, Citi also monitors its liquidity by reference to the LCR, as calculated pursuant to the U. S. LCR rules.", + "Generally, the LCR is designed to ensure that banks maintain an adequate level of HQLA to meet liquidity needs under an acute 30-day stress scenario.", + "The LCR is calculated by dividing HQLA by estimated net outflows over a stressed 30-day period, with the net outflows determined by applying prescribed outflow factors to various categories of liabilities, such as deposits, unsecured and secured wholesale borrowings, unused lending commitments and derivatives\u0002related exposures, partially offset by inflows from assets maturing within 30 days.", + "Banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows.", + "The minimum LCR requirement is 100%, effective January 2017.", + "In December 2016, the Federal Reserve Board adopted final rules which require additional disclosures relating to the LCR of large financial institutions, including Citi.", + "Among other things, the final rules require Citi to disclose components of its average HQLA, LCR and inflows and outflows each quarter.", + "In addition, the final rules require disclosure of Citi\u2019s calculation of the maturity mismatch add-on as well as other qualitative disclosures.", + "The effective date for these disclosures is April 1, 2017.", + "|In billions of dollars|Dec. 31, 2016|Sept. 30, 2016|Dec. 31, 2015|\n|HQLA|$403.7|$403.8|$389.2|\n|Net outflows|332.5|335.3|344.4|\n|LCR|121%|120%|113%|\n|HQLA in excess of net outflows|$71.3|$68.5|$44.8|\n", + "The table below sets forth the components of Citi\u2019s LCR calculation and HQLA in excess of net outflows for the periods indicated: Note: Amounts set forth in the table above are presented on an average basis.", + "As set forth in the table above, Citi\u2019s LCR increased both year-over-year and sequentially.", + "The increase year-over-year was driven by both an increase in HQLA and a reduction in net outflows.", + "Sequentially, the increase was driven by a slight reduction in net outflows, as HQLA remained largely unchanged.", + "Long-Term Liquidity Measurement: Net Stable Funding Ratio (NSFR) In the second quarter of 2016, the Federal Reserve Board, the FDIC and the OCC issued a proposed rule to implement the Basel III NSFR requirement.", + "The U. S. -proposed NSFR is largely consistent with the Basel Committee\u2019s final NSFR rules.", + "In general, the NSFR assesses the availability of a bank\u2019s stable funding against a required level.", + "A bank\u2019s available stable funding would include portions of equity, deposits and long-term debt, while its required stable funding would be based on the liquidity characteristics of its assets, derivatives and commitments.", + "Standardized weightings would be required to be applied to the various asset and liabilities classes.", + "The ratio of available stable funding to required stable funding would be required to be greater than 100%.", + "While Citi believes that it is compliant with the proposed U. S. NSFR rules as of December 31, 2016, it will need to evaluate any final version of the rules, which are expected to be released during 2017.", + "The proposed rules would require full implementation of the U. S. NSFR beginning January 1, 2018.", + "8.", + "RETIREMENT BENEFITS Pension and Postretirement Plans The Company has several non-contributory defined benefit pension plans covering certain U. S. employees and has various defined benefit pension and termination indemnity plans covering employees outside the U. S. The U. S. qualified defined benefit plan was frozen effective January 1, 2008 for most employees.", + "Accordingly, no additional compensation-based contributions have been credited to the cash balance portion of the plan for existing plan participants after 2007.", + "However, certain employees covered under the prior final pay plan formula continue to accrue benefits.", + "The Company also offers postretirement health care and life insurance benefits to certain eligible U. S. retired employees, as well as to certain eligible employees outside the U. S. The Company also sponsors a number of non-contributory, nonqualified pension plans.", + "These plans, which are unfunded, provide supplemental defined pension benefits to certain U. S. employees.", + "With the exception of certain employees covered under the prior final pay plan formula, the benefits under these plans were frozen in prior years.", + "The plan obligations, plan assets and periodic plan expense for the Company\u9225\u6a9a most significant pension and postretirement benefit plans (Significant Plans) are measured and disclosed quarterly, instead of annually.", + "The Significant Plans captured approximately 90% of the Company\u9225\u6a9a global pension and postretirement plan obligations as of December 31, 2016.", + "All other plans (All Other Plans) are measured annually with a December 31 measurement date.", + "Net (Benefit) Expense The following table summarizes the components of net (benefit) expense recognized in the Consolidated Statement of Income for the Company\u9225\u6a9a pension and postretirement plans, for Significant Plans and All Other Plans:", + "||Pension plans|Postretirement benefit plans|\n||U.S. plans|Non-U.S. plans|U.S. plans|Non-U.S. plans|\n|In millions of dollars|2016|2015|2014|2016|2015|2014|2016|2015|2014|2016|2015|2014|\n|Qualified plans|||||||||||||\n|Benefits earned during the year|$3|$4|$6|$154|$168|$178|$\u2014|$\u2014|$\u2014|$10|$12|$15|\n|Interest cost on benefit obligation|520|553|541|282|317|376|25|33|33|94|108|120|\n|Expected return on plan assets|-886|-893|-878|-287|-323|-384|-9|-3|-1|-86|-105|-121|\n|Amortization of unrecognized|||||||||||||\n|Prior service (benefit) cost|\u2014|-3|-3|-1|2|1|\u2014|\u2014|\u2014|-10|-11|-12|\n|Net actuarial loss|160|139|105|69|73|77|-1|\u2014|\u2014|30|43|39|\n|Curtailment loss (gain)(1)|13|14|\u2014|-2|\u2014|14|\u2014|\u2014|\u2014|\u2014|-1|\u2014|\n|Settlement loss (gain)(1)|\u2014|\u2014|\u2014|6|44|53|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Special termination benefits-1|\u2014|\u2014|\u2014|\u2014|\u2014|9|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Net qualified plans (benefit) expense|$-190|$-186|$-229|$221|$281|$324|$15|$30|$32|$38|$46|$41|\n|Nonqualified plans expense|$40|$43|$45|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|\n|Total net (benefit) expense|$-150|$-143|$-184|$221|$281|$324|$15|$30|$32|$38|$46|$41|\n", + "(1) Losses and gains due to curtailment, settlement and special termination benefits relate to repositioning and divestiture actions.", + "The estimated net actuarial loss and prior service (benefit) cost that will be amortized from Accumulated other comprehensive income (loss) into net expense in 2017 are approximately $233 million and $(2) million, respectively, for defined benefit pension plans.", + "For postretirement plans, the estimated 2017 net actuarial loss and prior service (benefit) cost amortizations are approximately $28 million and $(9) million, respectively.", + "Results of Operations", + "||2009 (all amounts in millions)|2008|Increase/ (Decrease)|% change|\n|Revenues from rental property -1|$786.9|$758.7|$28.2|3.7%|\n|Rental property expenses: -2|||||\n|Rent|$14.1|$13.4|$0.7|5.2%|\n|Real estate taxes|112.4|98.0|14.4|14.7%|\n|Operating and maintenance|110.1|104.7|5.4|5.2%|\n||$236.6|$216.1|$20.5|9.5%|\n|Depreciation and amortization -3|$227.7|$206.0|$21.7|10.5%|\n", + "(1) Revenues from rental property increased primarily from the combined effect of (i) the acquisition of operating properties during 2008 and 2009, providing incremental revenues for the year ended December 31, 2009 of $29.3 million, as compared to the corresponding period in 2008 and (ii) the completion of certain development and redevelopment projects and tenant buyouts providing incremental revenues of approximately $7.4 million, for the year ended December 31, 2009, as compared to the corresponding period in 2008, which was partially offset by (iii) a decrease in revenues of approximately $8.5 million for the year ended December 31, 2009, as compared to the corresponding period in 2008, primarily resulting from the sale of certain properties during 2008 and 2009, and (iv) an overall occupancy decrease from the consolidated shopping center portfolio from 93.1% at December 31, 2008 to 92.2% at December 31, 2009.", + "(2) Rental property expenses increased primarily due to (i) operating property acquisitions during 2008 and 2009, (ii) the placement of certain development properties into service, which resulted in lower capitalization of carry costs, and (iii) an increase in snow removal costs during 2009 as compared to 2008, partially offset by (iv) a decrease in insurance costs during 2009 as compared to 2008 and (v) operating property dispositions during 2008 and 2009.", + "(3) Depreciation and amortization increased primarily due to (i) operating property acquisitions during 2008 and 2009, (ii) the placement of certain development properties into service and (iii) tenant vacates, partially offset by operating property dispositions during 2008 and 2009.", + "Mortgage and other financing income decreased $3.3 million to $15.0 million for the year ended December 31, 2009, as compared to $18.3 million for the corresponding period in 2008.", + "This decrease is primarily due to a decrease in interest income during 2009 resulting from the repayment of certain mortgage receivables during 2009 and 2008.", + "Management and other fee income decreased approximately $5.2 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to a decrease in property management fees of approximately $5.8 million for 2009, due to lower revenues attributable to lower occupancy and the sale of certain properties during 2008 and 2009, partially offset by an increase in other transaction related fees of approximately $0.6 million recognized during 2009.", + "General and administrative expenses decreased approximately $6.1 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to a reduction in force during 2009 as a result of implementing the Company\u2019s core business strategy of focusing on owning and operating shopping centers and a shift away from certain non-strategic assets along with a lack of transactional activity.", + "Interest, dividends and other investment income decreased approximately $23.0 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to (i) a decrease in realized gains of approximately $8.2 million during 2009 resulting from the sale of certain marketable securities during the corresponding period in 2008 as compared to 2009, and (ii) a decrease in interest and dividend income of approximately $14.8 million during 2009, as compared to the corresponding period in 2008, primarily resulting from the sale of investments in marketable securities and reductions in dividends declared from certain marketable securities during 2009 and 2008.", + "Other expense, net decreased approximately $1.3 million to $0.9 million for the year ended December 31, 2009, as compared to $2.2 million for the corresponding period in 2008.", + "This decrease is primarily due to (i) the receipt of fewer shares of Sears Holding Corp. common stock received as partial settlement of Kmart pre-petition claims during 2008," + ], + "question_id": "simplong-test-111", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of Management and financial advice fees, Distribution fees, Net investment income and Premiums in 2012? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PART II ITEM 7 Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Year Ended December 31, 2014 Compared to the Year Ended December 31, 2013 Net Loss Segment net loss decreased $25,510 or 25%, to $74,731 for Twelve Months 2014 compared with a net loss of $100,241 for Twelve Months 2013.", + "The decrease is primarily due to a $20,753 one-time tax benefi t related to the conversion of the Canadian branch operations of certain U. S. subsidiaries to foreign corporate entities, a $17,068 (after-tax) change in net realized gains on investments, lower employee-related costs and impact of expense reduction initiatives.", + "These items were partially offset by a $19,400 (after-tax) loss on an asset held for sale.", + "Total Revenues Total revenues increased $7,189 or 10%, to $79,282 for Twelve Months 2014 compared with $72,093 for Twelve Months 2013.", + "The increase in revenues is mainly due to an $26,258 increase in net realized gains on investments partially offset by a decrease of $17,816 in amortization of deferred gain on disposal of businesses (\u201camortization of deferred gain\u201d).", + "The reduction in the amortization of deferred gain is related to a change in estimate for the recognition of a deferred gain associated with FFG that we previously sold through reinsurance.", + "Total Benefi ts, Losses and Expenses Total benefi ts, losses and expenses decreased $19,600 or 9%, to $201,473 in Twelve Months 2014 compared with $221,073 in Twelve Months 2013.", + "Interest expense declined $19,340 primarily due to repayment of the 2004 Senior Notes with an aggregate principal amount of $500,000 on February 18, 2014.", + "Included in selling, underwriting and general expenses is a $21,526 loss on an asset held for sale.", + "Excluding this item, Twelve Months 2014 had lower selling, underwriting and general expenses compared with Twelve Months 2013 primarily due to lower employee-related costs and impact of expense reduction initiatives.", + "Year Ended December 31, 2013 Compared to the Year Ended December 31, 2012 Net Loss Segment net loss increased $45,183 or 82%, to $100,241 for Twelve Months 2013 compared with a net loss of $55,058 for Twelve Months 2012.", + "The increase is primarily related to a $19,388 (after-tax) decrease in net realized gains on investments, increased employee-related and business acquisition-related expenses and additional expenses in areas targeted for growth.", + "In addition, interest expense increased $11,329 (after-tax) due to the March 2013 issuance of senior notes with an aggregate principal amount of $700,000.", + "Total Revenues Total revenues decreased $34,713 or 33%, to $72,093 for Twelve Months 2013 compared with $106,806 for Twelve Months 2012.", + "The decrease in revenues is mainly due to decreased net realized gains on investments.", + "Total Benefi ts, Losses and Expenses Total benefi ts, losses and expenses increased $50,405 or 30%, to $221,073 in Twelve Months 2013 compared with $170,668 in Twelve Months 2012.", + "The increase is primarily due to increased employee-related and business acquisition-related expenses, additional expenses in areas targeted for growth and increased interest expense related to the March 2013 debt issuance mentioned above.", + "In addition, policyholders benefi ts increased $5,949 attributable to increased claims payable accruals associated with discontinued businesses.", + "Investments The Company had total investments of $14,131,452 and $14,244,015 as of December 31, 2014 and December 31, 2013, respectively.", + "For more information on our investments see Note 5 to the Consolidated Financial Statements included elsewhere in this report.", + "The following table shows the credit quality of our fi xed maturity securities portfolio as of the dates indicated:", + "|| As of|\n| Fixed Maturity Securities by Credit Quality (Fair Value)|December 31, 2014| December 31, 2013|\n|Aaa / Aa / A|$7,314,208|65.0%|$7,214,256|63.9%|\n|Baa|3,255,505|28.9%|3,316,035|29.4%|\n|Ba|432,203|3.8%|523,175|4.6%|\n|B and lower|261,258|2.3%|238,409|2.1%|\n|Total|$11,263,174|100.0%|$11,291,875|100.0%|\n", + "Annuities The following table presents the results of operations of our Annuities segment on an operating basis:", + "||Years Ended December 31,|||\n||2012|2011|Change|\n||(in millions)||\n|Revenues|||||\n|Management and financial advice fees|$648|$622|$26|4%|\n|Distribution fees|317|312|5|2|\n|Net investment income|1,132|1,279|-147|-11|\n|Premiums|118|161|-43|-27|\n|Other revenues|309|256|53|21|\n|Total revenues|2,524|2,630|-106|-4|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|2,524|2,630|-106|-4|\n|Expenses|||||\n|Distribution expenses|395|400|-5|-1|\n|Interest credited to fixed accounts|688|714|-26|-4|\n|Benefits, claims, losses and settlement expenses|419|405|14|3|\n|Amortization of deferred acquisition costs|229|264|-35|-13|\n|Interest and debt expense|2|1|1|NM|\n|General and administrative expense|224|221|3|1|\n|Total expenses|1,957|2,005|-48|-2|\n|Operating earnings|$567|$625|$-58|-9%|\n", + "NM Not Meaningful.", + "Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed benefits (net of hedges and the related DSIC and DAC amortization), decreased $58 million, or 9%, to $567 million for the year ended December 31, 2012 compared to $625 million for the prior year primarily due to a decline in net investment income and an unfavorable impact from unlocking and model changes, partially offset by the market impact on DAC and DSIC, lower interest credited to fixed accounts and higher fee revenues.", + "Results for 2011 included $34 million of additional bond discount accretion investment income related to prior periods resulting from revisions to the accounting classification of certain structured securities, net of DAC and DSIC amortization.", + "The impact of unlocking and model changes was a decrease to pretax operating income of $11 million in 2012 compared to an increase of $1 million in the prior year.", + "The impact of unlocking and model changes for 2012 included a $43 million benefit, net of DAC and DSIC amortization, from an adjustment to the model which values the reserves related to living benefit guarantees primarily attributable to prior periods.", + "This revision aligns the model to more accurately reflect best estimate assumptions for living benefit utilization going forward.", + "The market impact on DAC and DSIC was a benefit of $29 million in 2012 compared to an expense of $10 million in the prior year.", + "RiverSource variable annuity account balances increased 9% to $68.1 billion at December 31, 2012 compared to the prior year driven by market appreciation.", + "Variable annuity net outflows of $457 million in 2012 reflected the closed book of annuities previously sold through third parties and $511 million of net inflows in the Ameriprise channel.", + "RiverSource fixed annuity account balances declined 3% to $13.8 billion due to net outflows given the interest rate environment.", + "Net Revenues Net revenues, which exclude net realized gains or losses, decreased $106 million, or 4%, to $2.5 billion for the year ended December 31, 2012 compared to $2.6 billion for the prior year primarily due to decreases in net investment income and premiums, partially offset by higher management fees and higher fees from variable annuity guarantees.", + "Management and financial advice fees increased $26 million, or 4%, to $648 million for the year ended December 31, 2012 compared to $622 million for the prior year due to higher fees on variable annuities driven by higher separate account balances.", + "Average variable annuities contract accumulation values increased $2.9 billion, or 5%, from the prior year due to market appreciation.", + "Net investment income, which excludes net realized gains or losses, decreased $147 million, or 11%, to $1.1 billion for the year ended December 31, 2012 compared to $1.3 billion for the prior year due to a decrease in investment income on fixed maturities driven by low interest rates impacting both the variable and fixed businesses and $37 million of additional bond discount accretion investment income recognized in 2011 related to prior periods resulting from revisions to the accounting classification of certain structured securities.", + "expects to have sufficient liquidity to finance its announced capital growth projects.", + "ONEOK Partners believes that its available credit and cash and cash equivalents are adequate to meet liquidity requirements associated with commodity price volatility.", + "See discussion under \u201cCommodity Price Risk\u201d in Part I, Item 7A, Quantitative and Qualitative Disclosures about Market Risk in our Annual Report, for information on ONEOK Partners\u2019 hedging activities.", + "Pension and Postretirement Benefit Plans - Information about our pension and postretirement benefits plans, including anticipated contributions, is included under Note N of the Notes to Consolidated Financial Statements in this Annual Report.", + "During 2014, we made no contributions to our defined benefit pension plans, and $2.0 million in contributions to our postretirement benefit plans for both continuing and discontinued operations.", + "The contributions to our postretirement benefit plans were attributable to the 2014 plan year.", + "We expect to make $1.5 million in contributions to our defined benefit pension and postretirement plans in 2015.", + "CASH FLOW ANALYSIS We use the indirect method to prepare our Consolidated Statements of Cash Flows.", + "Under this method, we reconcile net income to cash flows provided by operating activities by adjusting net income for those items that impact net income but do not result in actual cash receipts or payments during the period and for operating cash items that do not impact net income.", + "These reconciling items include depreciation and amortization, allowance for equity funds used during construction, gain or loss on sale of assets, equity earnings from investments, distributions received from unconsolidated affiliates, deferred income taxes, share-based compensation expense, other amounts, and changes in our assets and liabilities not classified as investing or financing activities.", + "The following table sets forth the changes in cash flows by operating, investing and financing activities for the periods indicated:", + "||Years Ended December 31,|\n||2014|2013|2012|\n||(Millions of dollars)|\n|Total cash provided by (used in):||||\n|Operating activities|$1,285.6|$1,294.8|$984.0|\n|Investing activities|-2,566.2|-2,642.0|-1,814.2|\n|Financing activities|1,304.5|912.9|1,339.0|\n|Change in cash and cash equivalents|23.9|-434.3|508.8|\n|Change in cash and cash equivalents included in discontinued operations|3.3|2.9|11.5|\n|Change in cash and cash equivalents from continuing operations|27.2|-431.4|520.3|\n|Cash and cash equivalents at beginning of period|145.6|577.0|56.7|\n|Cash and cash equivalents at end of period|$172.8|$145.6|$577.0|\n", + "Operating Cash Flows - Operating cash flows are affected by earnings from our business activities.", + "Changes in commodity prices and demand for our services or products, whether because of general economic conditions, changes in supply, changes in demand for the end products that are made with our products or increased competition from other service providers, could affect our earnings and operating cash flows.2014 vs. 2013 - Cash flows from operating activities, before changes in operating assets and liabilities, were approximately $1,227.3 million in 2014 compared with $1,302.0 million 2013.", + "The decrease was due primarily to 2013 operating activities including a full year of operations of our former natural gas distribution business, which was separated from ONEOK on January 31, 2014, as discussed in Note B, offset partially by higher operating income from ONEOK Partners, as discussed in \u201cFinancial Results and Operating Information.", + "\u201d The changes in operating assets and liabilities increased operating cash flows by approximately $58.3 million in 2014, compared with a decrease of $7.2 million in 2013.", + "The increase was due primarily to the collection and payment of trade receivables and payables, resulting from the timing of cash collections from customers and paid to vendors and suppliers, which vary from period to period.", + "This change is also due to the change in NGL volumes in storage.", + "These increases were offset partially by higher settlements of liabilities associated with the wind down of our former energy services business and higher imbalances.", + "REPUBLIC SERVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) Changes in the deferred tax valuation allowance for the years ended December 31, 2012, 2011 and 2010 are as follows:", + "||2012|2011|2010|\n|Valuation allowance, beginning of year|$118.1|$120.1|$126.5|\n|Additions charged to income|1.9|2.1|8.3|\n|Usage|-3.2|-4.3|-10.4|\n|Expirations of state net operating losses|-0.3|-0.3|-0.3|\n|Other, net|8.3|0.5|-4.0|\n|Valuation allowance, end of year|$124.8|$118.1|$120.1|\n", + "In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized after the initial recognition of the deferred tax asset.", + "We also provide valuation allowances, as needed, to offset portions of deferred tax assets due to uncertainty surrounding the future realization of such deferred tax assets.", + "We adjust the valuation allowance in the period management determines it is more likely than not that deferred tax assets will or will not be realized.", + "We have state net operating loss carryforwards with an estimated tax effect of $130.2 million available at December 31, 2012.", + "These state net operating loss carryforwards expire at various times between 2013 and 2032.", + "We believe that it is more likely than not that the benefit from certain state net operating loss carryforwards will not be realized.", + "In recognition of this risk, at December 31, 2012, we have provided a valuation allowance of $113.5 million for certain state net operating loss carryforwards.", + "At December 31, 2012, we also have provided a valuation allowance of $11.3 million for certain other deferred tax assets.", + "Deferred income taxes have not been provided on the undistributed earnings of our Puerto Rican subsidiaries of approximately $40 million and $39 million as of December 31, 2012 and 2011, respectively, as such earnings are considered to be permanently invested in those subsidiaries.", + "If such earnings were to be remitted to us as dividends, we would incur approximately $14 million of federal income taxes.", + "We made income tax payments (net of refunds received) of approximately $185 million, $173 million and $418 million for 2012, 2011 and 2010, respectively.", + "Income taxes paid in 2012 and 2011 reflect the favorable tax depreciation provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Tax Relief Act) that was signed into law in December 2010.", + "The Tax Relief Act included 100% bonus depreciation for property placed in service after September 8, 2010 and through December 31, 2011 (and for certain long-term construction projects to be placed in service in 2012) and 50% bonus depreciation for property placed in service in 2012 (and for certain long-term construction projects to be placed in service in 2013).", + "Income taxes paid in 2010 includes $111 million related to the settlement of certain tax liabilities regarding BFI risk management companies.", + "We and our subsidiaries are subject to income tax in the U. S. and Puerto Rico, as well as income tax in multiple state jurisdictions.", + "Our compliance with income tax rules and regulations is periodically audited by tax authorities.", + "These authorities may challenge the positions taken in our tax filings.", + "Thus, to provide for certain potential tax exposures, we maintain liabilities for uncertain tax positions for our estimate of the final outcome of the examinations." + ], + "question_id": "simplong-test-112", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in net cash provided by operating activities from 2016 to 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Protection The following table presents the results of operations of our Protection segment on an operating basis:", + "||Years Ended December 31,|||\n||2013|2012|Change|\n||(in millions)||\n|Revenues|||||\n|Management and financial advice fees|$58|$55|$3|5%|\n|Distribution fees|91|91|\u2014|\u2014|\n|Net investment income|439|429|10|2|\n|Premiums|1,188|1,121|67|6|\n|Other revenues|410|392|18|5|\n|Total revenues|2,186|2,088|98|5|\n|Banking and deposit interest expense|\u2014|1|-1|\u2014|\n|Total net revenues|2,186|2,087|99|5|\n|Expenses|||||\n|Distribution expenses|62|53|9|17|\n|Interest credited to fixed accounts|145|143|2|1|\n|Benefits, claims, losses and settlement expenses|1,252|1,146|106|9|\n|Amortization of deferred acquisition costs|118|110|8|7|\n|Interest and debt expense|25|24|1|4|\n|General and administrative expense|248|238|10|4|\n|Total expenses|1,850|1,714|136|8|\n|Operating earnings|$336|$373|$-37|-10%|\n", + "Our Protection segment pretax operating income, which excludes net realized gains or losses and the market impact on indexed universal life benefits (net of hedges and the related DAC amortization, unearned revenue amortization and the reinsurance accrual), decreased $37 million, or 10%, to $336 million for the year ended December 31, 2013 compared to $373 million for the prior year reflecting lower auto and home earnings.", + "Net Revenues Net revenues, which exclude net realized gains or losses and the unearned revenue amortization and the reinsurance accrual offset to the market impact on indexed universal life benefits, increased $99 million, or 5%, to $2.2 billion for the year ended December 31, 2013 compared to $2.1 billion for the prior year primarily due to the impact of unlocking and growth in auto and home premiums, as well as an increase in net investment income.", + "Net investment income, which excludes net realized gains or losses, increased $10 million, or 2%, to $439 million for the year ended December 31, 2013 compared to $429 million for the prior year due to an increase in investment income on fixed maturities driven by higher average invested assets for life and health.", + "Premiums increased $67 million, or 6%, to $1.2 billion for the year ended December 31, 2013 compared to $1.1 billion for the prior year primarily due to growth in auto and home premiums driven by new policy sales growth across market segments, primarily from our affinity relationships with Costco and Progressive.", + "Auto and home policy counts increased 11% year-over-year.", + "Other revenues increased $18 million, or 5%, to $410 million for the year ended December 31, 2013 compared to $392 million for the prior year primarily due to an $18 million unfavorable impact from unlocking for the year ended December 31, 2013 compared to a $41 million unfavorable impact in the prior year.", + "The primary driver of the unlocking impact to other revenues in both periods was lower projected gains on reinsurance contracts resulting from favorable mortality experience.", + "Expenses Total expenses, which exclude the market impact on indexed universal life benefits (net of hedges and the related DAC amortization), increased $136 million, or 8%, to $1.9 billion for the year ended December 31, 2013 compared to $1.7 billion for the prior year primarily due to an increase in benefits, claims, losses and settlement expenses.", + "Distribution expenses increased $9 million, or 17%, to $62 million for the year ended December 31, 2013 compared to $53 million for the prior year driven by higher compensation related to higher sales.", + "Benefits, claims, losses and settlement expenses, which exclude the market impact on indexed universal life benefits (net of hedges), increased $106 million, or 9%, to $1.3 billion for the year ended December 31, 2013 compared to $1.1 billion for the prior year due to the impact of unlocking, higher expenses related to our auto and home business, an", + "We expect net interest expense of approximately $135 to $140 in 2011, subject to capital deployment activities during the year.", + "Our effective tax rate was 31.2 percent in 2008, 31.5 percent in 2009 and 30.7 percent in 2010.", + "The 2008 rate includeda$35, or approximately $0.09 per-share, benefit from the settlement of tax refund litigation, which reduced the 2008 tax rate by 100 basis points.", + "We anticipate an effective tax rate of approximately 31 percent in 2011.", + "For additional discussion of tax matters, see Note E to the Consolidated Financial Statements.", + "In 2008, we entered into an agreement to sell our Spanish nitrocellulose operation and recognized a pretax loss of $11 in discontinued operations in anticipation of the sale.", + "The sale of this operation was completed in 2010.", + "Our reported revenues exclude the revenues associated with this divested business.", + "We have presented the operating results of this business, along with the loss from the sale, as discontinued operations, net of income taxes.", + "R E V I EW OF BU S I NESS GROU P S AEROSPACE Review of 2010 vs. 2009", + "|Year Ended December 31|2009|2010|Variance|\n|Revenues|$5,171|$5,299|$128|2.5%|\n|Operating earnings|707|860|153|21.6%|\n|Operating margin|13.7%|16.2%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|94|99|5|5.3%|\n|Completion|110|89|-21|-19.1%|\n", + "The Aerospace group\u2019s revenues increased in 2010 compared with 2009 due primarily to steady growth in aircraft services activity throughout the year.", + "Aircraft manufacturing and outfitting revenues remained consistent with 2009 levels, with an increase in manufac- turing volume offset by reduced outfitting work.", + "Aircraft manufacturing revenues increased 9 percent in 2010, the result of additional deliveries and a more favorable mix of green Gulfstream aircraft.", + "The decline in aircraft outfitting revenues was associated primarily with the group\u2019s completions work for other original equipment manufacturers (OEMs), reflecting decreased OEM production across the broader business-jet market.", + "Aircraft services revenues, which include both Gulfstream and Jet Aviation\u2019s maintenance and repair work, fixed-base operations and aircraft management services, increased 15 percent in 2010, reflecting the growing installed base of business-jet aircraft and increased utilization as the business-jet market recovers following the economic downturn.", + "Revenues from sales of pre-owned aircraft were down slightly from 2009.", + "The group\u2019s operating earnings improved significantly in 2010 compared with 2009, with improvements in all areas of the group\u2019s portfolio.", + "The components of the earnings growth were as follows:", + "|Aircraft manufacturing and outfitting|$68|\n|Pre-owned aircraft|40|\n|Aircraft services|29|\n|SG&A/other|16|\n|Total increase in operating earnings|$153|\n", + "The group\u2019s aircraft manufacturing and outfitting earnings were up in 2010 compared with 2009 due to the increase in aircraft manufacturing volume, as well as improved pricing on large-cabin aircraft and mix shift within large-cabin models.", + "This increase was offset in part by reduced liquidated damages associated with fewer customer defaults.", + "Margins for these activities were up 190 basis points compared with 2009.", + "Pre-owned aircraft earnings improved significantly from 2009, when the group wrote down the carrying value of its pre-owned aircraft inventory.", + "Pricing in the pre-owned market has improved since mid-2009, particularly for large-cabin aircraft, although inventories across the industry remain higher than historic norms.", + "In 2010, the Aerospace group realized modest profits on its pre-owned sales, took no pre-owned aircraft write-downs and ended the year with no pre-owned aircraft in inventory.", + "Consistent with the increased volume, aircraft services earnings continued to improve from 2009.", + "Margins associated with aircraft services were up 70 basis points in 2010 due to improved marketplace pricing.", + "The group\u2019s operating earnings in 2010 were also favorably impacted by the timing of R&D expenditures and the absence of severance costs associated with workforce reductions in 2009.", + "As a result of the factors discussed above, the group\u2019s overall operating margins increased 250 basis points in 2010 compared with 2009. Review of 2009 vs. 2008", + "|Year Ended December 31|2008|2009|Variance|\n|Revenues|$5,512|$5,171|$ -341|-6.2%|\n|Operating earnings|1,021|707|-314|-30.8%|\n|Operating margin|18.5%|13.7%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|156|94|-62|-39.7%|\n|Completion|152|110|-42|-27.6%|\n", + "The Aerospace group\u2019s revenues decreased in 2009, the result ofadecline in sales of Gulfstream aircraft that was offset in part by the addition of Jet Aviation, which we acquired in the fourth quarter of 2008.", + "We reduced Gulfstream\u2019s 2009 aircraft production, primarily in the group\u2019s mid-cabin", + "In summary, our cash flows for each period were as follows:", + "|Years Ended(In Millions)|Dec 30,2017|Dec 31,2016|Dec 26,2015|\n|Net cash provided by operating activities|$22,110|$21,808|$19,018|\n|Net cash used for investing activities|-15,762|-25,817|-8,183|\n|Net cash provided by (used for) financing activities|-8,475|-5,739|1,912|\n|Net increase (decrease) in cash and cash equivalents|$-2,127|$-9,748|$12,747|\n", + "OPERATING ACTIVITIES Cash provided by operating activities is net income adjusted for certain non-cash items and changes in assets and liabilities.", + "For 2017 compared to 2016, the $302 million increase in cash provided by operating activities was due to changes to working capital partially offset by adjustments for non-cash items and lower net income.", + "Tax Reform did not have an impact on our 2017 cash provided by operating activities.", + "The increase in cash provided by operating activities was driven by increased income before taxes and $1.0 billion receipts of customer deposits.", + "These increases were partially offset by increased inventory and accounts receivable.", + "Income taxes paid, net of refunds, in 2017 compared to 2016 were $2.9 billion higher due to higher income before taxes, taxable gains on sales of ASML, and taxes on the ISecG divestiture.", + "We expect approximately $2.0 billion of additional customer deposits in 2018.", + "For 2016 compared to 2015, the $2.8 billion increase in cash provided by operating activities was due to adjustments for non-cash items and changes in working capital, partially offset by lower net income.", + "The adjustments for non-cash items were higher in 2016 primarily due to restructuring and other charges and the change in deferred taxes, partially offset by lower depreciation.", + "INVESTING ACTIVITIES Investing cash flows consist primarily of capital expenditures; investment purchases, sales, maturities, and disposals; and proceeds from divestitures and cash used for acquisitions.", + "Our capital expenditures were $11.8 billion in 2017 ($9.6 billion in 2016 and $7.3 billion in 2015).", + "The decrease in cash used for investing activities in 2017 compared to 2016 was primarily due to higher net activity of available-for sale-investments in 2017, proceeds from our divestiture of ISecG in 2017, and higher maturities and sales of trading assets in 2017.", + "This activity was partially offset by higher capital expenditures in 2017.", + "The increase in cash used for investing activities in 2016 compared to 2015 was primarily due to our completed acquisition of Altera, net purchases of trading assets in 2016 compared to net sales of trading assets in 2015, and higher capital expenditures in 2016.", + "This increase was partially offset by lower investments in non-marketable equity investments.", + "FINANCING ACTIVITIES Financing cash flows consist primarily of repurchases of common stock, payment of dividends to stockholders, issuance and repayment of short-term and long-term debt, and proceeds from the sale of shares of common stock through employee equity incentive plans.", + "The increase in cash used for financing activities in 2017 compared to 2016 was primarily due to net long-term debt activity, which was a use of cash in 2017 compared to a source of cash in 2016.", + "During 2017, we repurchased $3.6 billion of common stock under our authorized common stock repurchase program, compared to $2.6 billion in 2016.", + "As of December 30, 2017, $13.2 billion remained available for repurchasing common stock under the existing repurchase authorization limit.", + "We base our level of common stock repurchases on internal cash management decisions, and this level may fluctuate.", + "Proceeds from the sale of common stock through employee equity incentive plans totaled $770 million in 2017 compared to $1.1 billion in 2016.", + "Our total dividend payments were $5.1 billion in 2017 compared to $4.9 billion in 2016.", + "We have paid a cash dividend in each of the past 101 quarters.", + "In January 2018, our Board of Directors approved an increase to our cash dividend to $1.20 per share on an annual basis.", + "The board has declared a quarterly cash dividend of $0.30 per share of common stock for Q1 2018.", + "The dividend is payable on March 1, 2018 to stockholders of record on February 7, 2018.", + "Cash was used for financing activities in 2016 compared to cash provided by financing activities in 2015, primarily due to fewer debt issuances and the repayment of debt in 2016.", + "This activity was partially offset by repayment of commercial paper in 2015 and fewer common stock repurchases in 2016." + ], + "question_id": "simplong-test-113", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in operating profit for space systems in 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 6.", + "SELECTED FINANCIAL DATA The Coca-Cola Company and Subsidiaries", + "| |Compound Growth Rates |Year Ended December 31,|\n|(In millions except per share data, ratios and growth rates) |5 Years |10 Years |2003 2|2002 3,4|\n| SUMMARY OF OPERATIONS|||||\n|Net operating revenues|5.2 %|5.3%|$ 21,044|$ 19,564|\n|Cost of goods sold|6.9 %|4.2%|7,762|7,105|\n|Gross profit|4.3 %|6.1%|13,282|12,459|\n|Selling, general and administrative expenses|5.6 %|5.9%|7,488|7,001|\n|Other operating charges|||573|\u2014|\n|Operating income|1.0 %|5.4%|5,221|5,458|\n|Interest income|||176|209|\n|Interest expense|||178|199|\n|Equity income (loss)\u2014net|||406|384|\n|Other income (loss)\u2014net|||-138|-353|\n|Gains on issuances of stock by equity investees|||8|\u2014|\n|Income before income taxes and changes in accounting principles|1.1 %|5.6%|5,495|5,499|\n|Income taxes|-7.2%|1.4%|1,148|1,523|\n|Net income before changes in accounting principles|4.2 %|7.1%|$ 4,347|$ 3,976|\n|Net income|4.2 %|7.2%|$ 4,347|$ 3,050|\n|Average shares outstanding|||2,459|2,478|\n|Average shares outstanding assuming dilution|||2,462|2,483|\n| PER SHARE DATA|||||\n|Income before changes in accounting principles\u2014basic|4.4 %|7.7%|$ 1.77|$ 1.60|\n|Income before changes in accounting principles\u2014diluted|4.5 %|7.9%|1.77|1.60|\n|Basic net income|4.4 %|7.7%|1.77|1.23|\n|Diluted net income|4.5 %|7.9%|1.77|1.23|\n|Cash dividends|8.0 %|10.0%|0.88|0.80|\n|Market price on December 31,|-5.4%|8.6%|50.75|43.84|\n| TOTAL MARKET VALUE OF COMMON STOCK1|-5.6%|7.9%|$ 123,908|$ 108,328|\n| BALANCE SHEET AND OTHER DATA|||||\n|Cash, cash equivalents and current marketable securities|||$ 3,482|$ 2,345|\n|Property, plant and equipment\u2014net|||6,097|5,911|\n|Depreciation|||667|614|\n|Capital expenditures|||812|851|\n|Total assets|||27,342|24,406|\n|Long-term debt|||2,517|2,701|\n|Total debt|||5,423|5,356|\n|Share-owners' equity|||14,090|11,800|\n|Total capital1|||19,513|17,156|\n| OTHER KEY FINANCIAL MEASURES1|||||\n|Total debt-to-total capital|||27.8%|31.2%|\n|Net debt-to-net capital|||12.1%|20.3%|\n|Return on common equity|||33.6%|34.3%|\n|Return on capital|||24.5%|24.5%|\n|Dividend payout ratio|||49.8%|65.1%|\n|Net cash provided by operations|||$ 5,456|$ 4,742|\n", + "1 Refer to Glossary on pages 103 and 104.2 In 2003, we adopted SFAS No.146, \u2018\u2018Accounting for Costs Associated with Exit or Disposal Activities.", + "\u2019\u2019 3 In 2002, we adopted SFAS No.142, \u2018\u2018Goodwill and Other Intangible Assets.", + "\u2019\u2019 4 In 2002, we adopted the fair value method provisions of SFAS No.123, \u2018\u2018Accounting for Stock-Based Compensation,\u2019\u2019 and we adopted SFAS No.148, \u2018\u2018Accounting for Stock-Based Compensation\u2014Transition and Disclosure.", + "\u2019\u2019", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Coca-Cola Company and Subsidiaries NOTE 12: NET CHANGE IN OPERATING ASSETS AND LIABILITIES Net cash provided by operating activities attributable to the net change in operating assets and liabilities is composed of the following (in millions):", + "||2003|2002|2001|\n|Decrease (increase) in trade accounts receivable|$ 80|$ -83|$ -73|\n|Decrease (increase) in inventories|111|-49|-17|\n|Decrease (increase) in prepaid expenses and other assets|-276|74|-349|\n|Decrease in accounts payable and accrued expenses|-164|-442|-179|\n|Increase in accrued taxes|53|20|247|\n|Increase (decrease) in other liabilities|28|73|-91|\n||$ -168|$ -407|$ -462|\n", + "NOTE 13: RESTRICTED STOCK, STOCK OPTIONS AND OTHER STOCK PLANS Prior to 2002, our Company accounted for our stock option plans and restricted stock plans under the recognition and measurement provisions of APB No.25 and related interpretations.", + "Effective January 1, 2002, our Company adopted the preferable fair value recognition provisions of SFAS No.123.", + "Our Company selected the modified prospective method of adoption described in SFAS No.148.", + "Compensation cost recognized in 2002 was the same as that which would have been recognized had the fair value method of SFAS No.123 been applied from its original effective date.", + "Refer to Note 1.", + "In accordance with the provisions of SFAS No.123 and SFAS No.148, $422 million and $365 million, respectively, were recorded for total stock-based compensation expense in 2003 and 2002.", + "Of the $422 million recorded in 2003, $407 million was recorded in selling, general and administrative expenses and $15 million was recorded in other operating charges (refer to Note 17).", + "In accordance with APB No.25, total stock-based compensation expense was $41 million for the year ended December 31, 2001.", + "Stock Option Plans Under our 1991 Stock Option Plan (the \u2018\u20181991 Option Plan\u2019\u2019), a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options and stock appreciation rights granted under the 1991 Option Plan.", + "The stock appreciation rights permit the holder, upon surrendering all or part of the related stock option, to receive cash, common stock or a combination thereof, in an amount up to 100 percent of the difference between the market price and the option price.", + "Options to purchase common stock under the 1991 Option Plan have been granted to Company employees at fair market value at the date of grant.", + "The 1999 Stock Option Plan (the \u2018\u20181999 Option Plan\u2019\u2019) was approved by share owners in April of 1999.", + "Following the approval of the 1999 Option Plan, no grants were made from the 1991 Option Plan, and shares available under the 1991 Option Plan were no longer available to be granted.", + "Under the 1999 Option Plan, a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options granted under the 1999 Option Plan.", + "Options to purchase common stock under the 1999 Option Plan have been granted to Company employees at fair market value at the date of grant.", + "The 2002 Stock Option Plan (the \u2018\u20182002 Option Plan\u2019\u2019) was approved by share owners in April of 2002.", + "Under the 2002 Option Plan, a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options granted under the 2002 Option Plan.", + "2011 compared to 2010 MST\u2019s net sales for 2011 decreased $311 million, or 4%, compared to 2010.", + "The decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily Maritime Patrol Aircraft and PTDS) and approximately $75 million for training and logistics solutions programs.", + "Partially offsetting these decreases was higher sales of about $165 million from production on the LCS program.", + "MST\u2019s operating profit for 2011 decreased $68 million, or 10%, compared to 2010.", + "The decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions.", + "Partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010.", + "Adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010.", + "Backlog Backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily MH-60 and LCS), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily Aegis).", + "Backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs.", + "Trends We expect MST\u2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of PTDS deliveries in 2012 and expected lower volume on training services programs.", + "Operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance.", + "Space Systems Our Space Systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems.", + "Space Systems is also responsible for various classified systems and services in support of vital national security systems.", + "Space Systems\u2019 major programs include the Space-Based Infrared System (SBIRS), Advanced Extremely High Frequency (AEHF) system, Mobile User Objective System (MUOS), Global Positioning Satellite (GPS) III system, Geostationary Operational Environmental Satellite R-Series (GOES-R), Trident II D5 Fleet Ballistic Missile, and Orion.", + "Operating results for our Space Systems business segment include our equity interests in United Launch Alliance (ULA), which provides expendable launch services for the U. S. Government, United Space Alliance (USA), which provided processing activities for the Space Shuttle program and is winding down following the completion of the last Space Shuttle mission in 2011, and a joint venture that manages the U. K. \u2019s Atomic Weapons Establishment program.", + "Space Systems\u2019 operating results included the following (in millions):", + "||2012|2011|2010|\n|Net sales|$8,347|$8,161|$8,268|\n|Operating profit|1,083|1,063|1,030|\n|Operating margins|13.0%|13.0%|12.5%|\n|Backlog at year-end|18,100|16,000|17,800|\n", + "2012 compared to 2011 Space Systems\u2019 net sales for 2012 increased $186 million, or 2%, compared to 2011.", + "The increase was attributable to higher net sales of approximately $150 million due to increased commercial satellite deliveries (two commercial satellites delivered in 2012 compared to one during 2011); about $125 million from the Orion program due to higher volume and an increase in risk retirements; and approximately $70 million from increased volume on various strategic and defensive missile programs.", + "Partially offsetting the increases were lower net sales of approximately $105 million from certain government satellite programs (primarily SBIRS and MUOS) as a result of decreased volume and a decline in risk retirements; and about $55 million from the NASA External Tank program, which ended in connection with the completion of the Space Shuttle program in 2011." + ], + "question_id": "simplong-test-114", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Insurance of At December 31, 2017 Case Reserves, and Insurance of At December 31, 2016 Case Reserves ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 1A.", + "RISK FACTORS In addition to the other information provided in this report, the following risk factors should be considered when evaluating an investment in our securities.", + "If the circumstances contemplated by the individual risk factors materialize, our business, financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly.", + "RISKS RELATING TO OUR BUSINESS Fluctuations in the financial markets could result in investment losses.", + "Prolonged and severe disruptions in the overall public debt and equity markets, such as occurred during 2008, could result in significant realized and unrealized losses in our investment portfolio.", + "Although financial markets have significantly improved since 2008, they could deteriorate in the future.", + "There could also be disruption in individual market sectors, such as occurred in the energy sector in recent years.", + "Such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations, equity, business and insurer financial strength and debt ratings.", + "Our results could be adversely affected by catastrophic events.", + "We are exposed to unpredictable catastrophic events, including weather-related and other natural catastrophes, as well as acts of terrorism.", + "Any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations.", + "By way of illustration, during the past five calendar years, pre-tax catastrophe losses, net of reinsurance, were as follows:", + "|Calendar year:|Pre-tax catastrophe losses|\n|(Dollars in millions)||\n|2017|$1,472.6|\n|2016|301.2|\n|2015|53.8|\n|2014|56.3|\n|2013|194.0|\n", + "Our losses from future catastrophic events could exceed our projections.", + "We use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool.", + "We use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area.", + "These loss projections are approximations, reliant on a mix of quantitative and qualitative processes, and actual losses may exceed the projections by a material amount, resulting in a material adverse effect on our financial condition and results of operations.", + "Gross written premiums decreased by 7.8% to $1,230.7 million in 2016 compared to $1,334.2 million in 2015, primarily due to declines in Latin American, Middle East and Asian business and the negative impact of $40.7 million from the movement of foreign exchange rates.", + "Net written premiums decreased by 10.4% to $1,082.7 million in 2016 compared to $1,209.0 million in 2015.", + "The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance related to the quota share contracts.", + "Premiums earned decreased 10.6% to $1,119.1 million in 2016 compared to $1,251.1 million in 2015.", + "The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the International segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2017||||||||||\n|Attritional|$605.3|50.4%||$0.2|0.0%||$605.6|50.4%||\n|Catastrophes|456.3|38.0%||-2.3|-0.2%||454.0|37.8%||\n|Total segment|$1,061.6|88.4%||$-2.1|-0.2%||$1,059.6|88.2%||\n|2016||||||||||\n|Attritional|$576.2|51.5%||$-224.8|-20.1%||$351.4|31.4%||\n|Catastrophes|178.8|16.0%||-43.7|-3.9%||135.2|12.1%||\n|Total segment|$755.0|67.5%||$-268.5|-24.0%||$486.6|43.5%||\n|2015||||||||||\n|Attritional|$721.3|57.7%||$-31.4|-2.5%||$689.9|55.2%||\n|Catastrophes|70.5|5.6%||-10.5|-0.8%||60.0|4.8%||\n|Total segment|$791.8|63.3%||$-41.9|-3.3%||$749.9|60.0%||\n|Variance 2017/2016||||||||||\n|Attritional|$29.1|-1.1|pts|$225.0|20.1|pts|$254.2|19.0|pts|\n|Catastrophes|277.5|22.0|pts|41.4|3.7|pts|318.8|25.7|pts|\n|Total segment|$306.6|20.9|pts|$266.4|23.8|pts|$573.1|44.7|pts|\n|Variance 2016/2015||||||||||\n|Attritional|$-145.1|-6.2|pts|$-193.4|-17.6|pts|$-338.5|-23.8|pts|\n|Catastrophes|108.3|10.4|pts|-33.2|-3.1|pts|75.2|7.3|pts|\n|Total segment|$-36.8|4.2|pts|$-226.6|-20.7|pts|$-263.3|-16.5|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 117.8% to $1,059.6 million in 2017 compared to $486.6 million in 2016, primarily due to an increase of $277.5 million in current year catastrophe losses, favorable development of $224.8 million on prior years attritional losses in 2016 mainly related to property business which did not recur in 2017 and favorable development of $43.7 million on prior years catastrophe losses in 2016 which did not recur in 2017.", + "The $456.3 million of current year catastrophe losses in 2017 related to Hurricane Maria ($263.2 million), Hurricane Irma ($107.6 million), the Mexico City earthquake ($25.6 million), the South Africa Knysna fires ($24.0 million), Cyclone Debbie in Australia ($17.1 million), the Peru storms ($15.2 million) and Hurricane Harvey ($3.7 million).", + "The $178.8 million of current year catastrophe losses in 2016 were due to the Fort McMurray Canada wildfire ($97.5 million), Hurricane Matthew ($27.4 million), the Ecuador earthquake ($23.6 million), the 2016 Taiwan earthquake ($15.2 million) and the New Zealand earthquake ($14.0 million).", + "Incurred losses and LAE decreased by 35.1% to $486.6 million in 2016 compared to $749.9 million in 2015, primarily due to more favorable development on prior year attritional losses of $193.4 million, a decrease in current year attritional losses of $145.1 million, mainly due to lower Canadian, Latin American, Middle Eastern and African losses in 2016 and the impact of the decrease in premiums earned, as well as more favorable development of prior year catastrophe losses of $33.2 million, partially offset by an increase of $108.3 million in current year catastrophe losses.", + "The $224.8 million of favorable development on prior years attritional losses was mainly related to property business.", + "The $178.8 million of current year catastrophe losses in 2016 are outlined above.", + "The $70.5 million of current year catastrophe losses in 2015 were due to the Chilean earthquake ($34.8 million), Northern Chile storms ($19.5 million) and the", + "Loss and LAE Reserves.", + "Gross loss and LAE reserves totaled $11,884.3 million and $10,312.3 million at December 31, 2017 and 2016, respectively.", + "The following tables summarize gross outstanding loss and LAE reserves by segment, classified by case reserves and IBNR reserves, for the periods indicated.", + "||At December 31, 2017|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,719.6|$2,041.0|$3,760.6|31.6%|\n|International|1,147.6|1,022.9|2,170.5|18.3%|\n|Bermuda|1,037.8|1,417.0|2,454.8|20.7%|\n|Insurance|1,049.4|2,000.0|3,049.4|25.7%|\n|Total excluding A&E|4,954.3|6,481.0|11,435.3|96.2%|\n|A&E|306.0|143.0|449.0|3.8%|\n|Total including A&E|$5,260.4|$6,623.9|$11,884.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "At December 31, 2016", + "||At December 31, 2016|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,316.3|$2,033.9|$3,350.3|32.5%|\n|International|893.5|850.3|1,743.8|16.9%|\n|Bermuda|770.0|1,189.0|1,959.1|19.0%|\n|Insurance|1,018.5|1,799.5|2,818.1|27.3%|\n|Total excluding A&E|3,998.4|5,872.8|9,871.2|95.7%|\n|A&E|293.5|147.6|441.1|4.3%|\n|Total including A&E|$4,291.9|$6,020.4|$10,312.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "Changes in premiums earned and business mix, reserve re-estimations, catastrophe losses and changes in catastrophe loss reserves and claim settlement activity all impact loss and LAE reserves by segment and in total.", + "Our loss and LAE reserves represent management\u2019s best estimate of our ultimate liability for unpaid claims.", + "We continuously re-evaluate our reserves, including re-estimates of prior period reserves, taking into consideration all available information and, in particular, newly reported loss and claim experience.", + "Changes in reserves resulting from such re-evaluations are reflected in incurred losses in the period when the re\u0002evaluation is made.", + "Our analytical methods and processes operate at multiple levels including individual contracts, groupings of like contracts, classes and lines of business, internal business units, segments, legal entities, and in the aggregate.", + "In order to set appropriate reserves, we make qualitative and quantitative analyses and judgments at these various levels.", + "Additionally, the attribution of reserves, changes in reserves and incurred losses among accident years requires qualitative and quantitative adjustments and allocations at these various levels.", + "We utilize actuarial science, business expertise and management judgment in a manner intended to ensure the accuracy and consistency of our reserving practices.", + "Nevertheless, our reserves are estimates, which are subject to variation, which may be significant.", + "There can be no assurance that reserves for, and losses from, claim obligations will not increase in the future, possibly by a material amount.", + "However, we believe that our existing reserves and reserving methodologies lessen the probability that any such increase would have a material adverse effect on our financial condition, results of operations or cash flows.", + "We have included ranges for loss reserve estimates determined by our actuaries, which have been developed through a combination of objective and subjective criteria.", + "Our presentation of this information may not be directly comparable to similar presentations of other companies as there are no consistently applied actuarial or accounting standards governing such presentations.", + "Our recorded reserves are an aggregation of our best point estimates for approximately 200 reserve groups and reflect our best point estimate of our liabilities.", + "Our actuarial methodologies develop point estimates rather than ranges and the ranges are developed subsequently based upon historical and prospective variability measures." + ], + "question_id": "simplong-test-115", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Noninterest expense develops with the same growth rate in 2016, what will it reach in 2017? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT\u2019S DISCUSSION AND ANALYSIS 68 We operate our business through two business operating segments: Consumer Banking and Commercial Banking.", + "Segment results are derived from our business-line profitability reporting systems by specifically attributing managed assets, liabilities, capital and their related revenues, provision for credit losses and expenses, including income tax expense.", + "Residual assets, liabilities, capital and their related revenues, provision for credit losses and expenses are attributed to Other.", + "For further information, see \u201c\u2014Results of Operations - 2017 compared with 2016 \u2014 Business Operating Segments.", + "\u201d Consumer Banking", + "||As of and for the Year Ended December 31,|||\n|(dollars in millions)|2016|2015|Change|Percent|\n|Net interest income|$2,443|$2,198|$245|11%|\n|Noninterest income|883|910|-27|-3|\n|Total revenue|3,326|3,108|218|7|\n|Noninterest expense|2,547|2,456|91|4|\n|Profit before provision for credit losses|779|652|127|19|\n|Provision for credit losses|243|252|-9|-4|\n|Income before income tax expense|536|400|136|34|\n|Income tax expense|191|138|53|38|\n|Net income|$345|$262|$83|32|\n|Loans and loans held for sale (year-end)|$57,383|$53,344|$4,039|8|\n|Average Balances:|||||\n|Total assets|$56,388|$52,848|$3,540|7%|\n|Loans and leases and loans held for sale|55,052|51,484|3,568|7|\n|Deposits|72,003|69,748|2,255|3|\n|Interest-earning assets|55,101|51,525|3,576|7|\n|Key Performance Metrics:|||||\n|Net interest margin|4.43%|4.27%|16bps|\u2014|\n|Efficiency ratio|76.57|79.02|-245 bps|\u2014|\n|Period-end loans to deposits ratio-1|77.33|74.53|280bps|\u2014|\n|Average loans to average deposits ratio-1|76.46|73.81|265bps|\u2014|\n|Return on average total tangible assets|0.61|0.50|11bps|\u2014|\n|Return on average tangible common equity-2|6.68|5.53|115bps|\u2014|\n", + "(1) Ratios include loans and leases held for sale.", + "(2) Business operating segments are allocated capital on a risk-adjusted basis considering economic and regulatory capital requirements.", + "We approximate that regulatory capital is equivalent to a sustainable target level for CET1 capital and then allocate that approximation to the business operating segments based on economic capital.", + "Consumer Banking net income of $345 million in 2016 increased $83 million, or 32%, from 2015, reflecting an increase in total revenue, partially offset by an increase in noninterest expense.", + "Consumer Banking total revenue of $3.3 billion in 2016 increased $218 million from 2015, as net interest income increased driven by loan and deposit growth.", + "Net interest income of $2.4 billion increased 11% from 2015, driven by the benefit of $3.6 billion average loan growth, reflecting growth in education, residential mortgage, auto and other retail loans as well as improved loan yields.", + "Noninterest income decreased $27 million, or 3%, largely as growth in service charges and fees and mortgage banking fees were more than offset by the impact of a reclassification of card reward costs and lower trust and investment services fees.", + "Noninterest expense of $2.5 billion in 2016 increased $91 million, or 4%, from $2.5 billion in 2015, driven by higher salaries and benefits, outside services expense, amortization of software and other operating expense, partially offset by the impact of a reclassification of card reward costs.", + "Provision for credit losses of $243 million in 2016 decreased $9 million, or 4%, from $252 million in 2015, largely reflecting the benefit of lower real estate secured net charge-offs.", + "consolidated 2005 results of operations was an estimated reduction of gross profit and a corresponding decrease to inventory, at cost, of $5.2 million.", + "Store pre-opening costs Pre-opening costs related to new store openings and the construction periods are expensed as incurred.", + "Property and equipment Property and equipment are recorded at cost.", + "The Company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives:", + "|Land improvements|20|\n|Buildings|39-40|\n|Furniture, fixtures and equipment|3-10|\n", + "Improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset.", + "Impairment of long-lived assets When indicators of impairment are present, the Company evaluates the carrying value of long-lived assets, other than goodwill, in relation to the operating performance and future cash flows or the appraised values of the underlying assets.", + "In accordance with SFAS 144, \u201cAccounting for the Impairment or Disposal of Long-Lived Assets,\u201d the Company reviews for impairment stores open more than two years for which current cash flows from operations are negative.", + "Impairment results when the carrying value of the assets exceeds the undiscounted future cash flows over the life of the lease.", + "The Company\u2019s estimate of undiscounted future cash flows over the lease term is based upon historical operations of the stores and estimates of future store profitability which encompasses many factors that are subject to variability and difficult to predict.", + "If a long-lived asset is found to be impaired, the amount recognized for impairment is equal to the difference between the carrying value and the asset\u2019s fair value.", + "The fair value is estimated based primarily upon future cash flows (discounted at the Company\u2019s credit adjusted risk-free rate) or other reasonable estimates of fair market value.", + "Assets to be disposed of are adjusted to the fair value less the cost to sell if less than the book value.", + "The Company recorded impairment charges, included in SG&A expense, of approximately $9.4 million in 2006, $0.6 million in 2005 and $0.2 million in 2004 to reduce the carrying value of certain of its stores\u2019 assets as deemed necessary due to negative sales trends and cash flows at these locations.", + "The majority of the 2006 charges were recorded pursuant to certain strategic initiatives discussed in Note 2.", + "Other assets Other assets consist primarily of long-term investments, qualifying prepaid expenses, debt issuance costs which are amortized over the life of the related obligations, utility and security deposits, life insurance policies and goodwill.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements The table below presents information about the allowance for credit losses.", + "||Year Ended December 2018|Year Ended December 2017|\n|$ in millions|Loans Receivable|Lending Commitments|Loans Receivable|Lending Commitments|\n|Changes in the allowance for credit losses||\n|Beginning balance|$ 803|$274|$ 509|$212|\n|Net charge-offs|-337|\u2013|-203|\u2013|\n|Provision|654|20|574|83|\n|Other|-54|-8|-77|-21|\n| Ending balance|$1,066|$286|$ 803|$274|\n|Allowance for losses by impairment methodology||\n|Specific|$ 102|$ 3|$ 119|$ 14|\n|Portfolio|848|283|518|260|\n|PCI|116|\u2013|166|\u2013|\n| Total|$1,066|$286|$ 803|$274|\n", + "In the table above: \u2030 Net charge-offs were primarily related to consumer loans and commercial real estate PCI loans for 2018 and primarily related to corporate loans for 2017.", + "\u2030 The provision for credit losses was primarily related to consumer loans and corporate loans for 2018 and primarily related to corporate loans and lending commitments, and commercial real estate loans for 2017.", + "\u2030 Other represents the reduction to the allowance related to loans and lending commitments transferred to held for sale.", + "\u2030 Portfolio level reserves were primarily related to corporate loans and lending commitments, specific loan-level reserves were substantially all related to corporate loans and reserves on PCI loans were related to real estate loans.", + "\u2030 Substantially all of the allowance for losses on lending commitments was related to corporate lending commitments.", + "\u2030 Allowance for loan losses as a percentage of total gross loans receivable was 1.3% as of December 2018 and 1.2% as of December 2017.", + "\u2030 Net charge-offs as a percentage of average total gross loans receivable were 0.5% for 2018 and 0.4% for 2017.", + "Note 10.", + "Collateralized Agreements and Financings Collateralized agreements are resale agreements and securities borrowed.", + "Collateralized financings are repurchase agreements, securities loaned and other secured financings.", + "The firm enters into these transactions in order to, among other things, facilitate client activities, invest excess cash, acquire securities to cover short positions and finance certain firm activities.", + "Collateralized agreements and financings are presented on a net-by-counterparty basis when a legal right of setoff exists.", + "Interest on collateralized agreements, which is included in interest income, and collateralized financings, which is included in interest expense, is recognized over the life of the transaction.", + "See Note 23 for further information about interest income and interest expense.", + "The table below presents the carrying value of resale and repurchase agreements and securities borrowed and loaned transactions.", + "||As of December|\n|$ in millions| 2018|2017|\n|Resale agreements| $139,258|$120,822|\n|Securities borrowed| $135,285|$190,848|\n|Repurchase agreements| $ 78,723|$ 84,718|\n|Securities loaned| $ 11,808|$ 14,793|\n", + "In the table above: \u2030 Substantially all resale agreements and all repurchase agreements are carried at fair value under the fair value option.", + "See Note 8 for further information about the valuation techniques and significant inputs used to determine fair value.", + "\u2030 Securities borrowed of $23.14 billion as of December 2018 and $78.19 billion as of December 2017, and securities loaned of $3.24 billion as of December 2018 and $5.36 billion as of December 2017 were at fair value.", + "Resale and Repurchase Agreements A resale agreement is a transaction in which the firm purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a stated price plus accrued interest at a future date.", + "A repurchase agreement is a transaction in which the firm sells financial instruments to a buyer, typically in exchange for cash, and simultaneously enters into an agreement to repurchase the same or substantially the same financial instruments from the buyer at a stated price plus accrued interest at a future date.", + "Even though repurchase and resale agreements (including \u201crepos- and reverses-to-maturity\u201d) involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be repurchased or resold before or at the maturity of the agreement.", + "The financial instruments purchased or sold in resale and repurchase agreements typically include U. S. government and agency, and investment-grade sovereign obligations.", + "Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations \u2013 CNA Financial \u2013 (Continued) expense reduction initiatives as compared with the same period in 2003.", + "Partially offsetting these favorable impacts was $14.0 million of estimated underwriting assessments related to the 2004 Florida hurricanes.", + "During 2004, additional bad debt provisions for insurance receivables of $150.0 million were recorded as compared to $242.0 million recorded in 2003.", + "The substantial bad debt provisions for insurance receivables in 2004 and 2003 were primarily related to Professional Employer Organization (\u201cPEO\u201d) accounts.", + "During 2002, Standard Lines ceased writing coverages for PEO businesses, with the last contracts expiring on June 30, 2003.", + "In the third quarter of 2003, CNA performed a review of PEO accounts to estimate ultimate losses and the indicated recoveries under retrospective premium or high-deductible provisions of the insurance contracts.", + "Based on the 2003 analysis of the credit standing of the individual PEO accounts and the amount of collateral held, CNA recorded an increase in the bad debt provision.", + "In the third quarter of 2004, the review of PEO accounts was updated and the population of accounts reviewed was expanded to include Temporary Help accounts as well.", + "Payroll audits performed since the last study identified that the exposure base for many accounts was higher than expected.", + "In addition, recovery estimates were updated based on current credit information on the insured.", + "Based on the updated study, CNA recorded an estimated bad debt provision of $95.0 million in the third quarter of 2004 for these accounts.", + "In 2004, the expense ratio was adversely impacted by an additional $55.0 million bad debt provision for insurance receivables.", + "The primary drivers of the provision were the completion of updated ultimate loss projections on all large account business where the insured is currently in bankruptcy and a comprehensive review of all billed balances that are past due.", + "The dividend ratio decreased 2.0 points in 2004 as compared with 2003 due to favorable net prior year dividend development of $23.0 million in 2004, as compared to unfavorable net prior year dividend development of $46.0 million in 2003, primarily related to workers compensation products.", + "The favorable 2004 dividend development was related to a review that was completed in 2004 which indicated dividends were lower than prior expectations based on decreased usage of dividend programs.", + "Specialty Lines The following table summarizes the results of operations for Specialty Lines for the years ended December 31, 2005, 2004 and 2003." + ], + "question_id": "simplong-test-116", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Beginning Stores of 2010, and Principal balance outstanding At December 31 of Home Equity 2008 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table sets forth information concerning increases in the total number of our AAP stores during the past five years:", + "||2011|2010|2009|2008|2007|\n|Beginning Stores|3,369|3,264|3,243|3,153|2,995|\n|New Stores-1|95|110|75|109|175|\n|Stores Closed|-4|-5|-54|-19|-17|\n|Ending Stores|3,460|3,369|3,264|3,243|3,153|\n", + "(1) Does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores.6WRUH\u00037HFKQRORJ\\\u0011\u0003 Our store-based information systems, which are designed to improve the efficiency of our operations and enhance customer service, are comprised of a proprietary POS system and electronic parts catalog, or EPC, system.", + "Information maintained by our POS system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly.", + "Our POS system is fully integrated with our EPC system and enables our store Team Members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles.", + "Our centrally-based EPC data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information.", + "Our EPC system also contains enhanced search engines and user-friendly navigation tools that enhance our Team Members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project.", + "If a hard-to-find part or accessory is not available at one of our stores, the EPC system can determine whether the part is carried and in-stock through our HUB or PDQ?", + "networks or can be ordered directly from one of our vendors.", + "Available parts and accessories are then ordered electronically from another store, HUB, PDQ?", + "or directly from the vendor with immediate confirmation of price, availability and estimated delivery time.", + "We also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities.", + "Our store-level inventory management system provides real-time inventory tracking at the store level.", + "With the store-level system, store Team Members can check the quantity of on-hand inventory for any SKU, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate SKUs for cycle counts and track merchandise transfers.", + "Our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory.", + "Our standard operating procedure, or SOP, system is a web-based, electronic data management system that provides our Team Members with instant access to any of our standard operating procedures through a comprehensive on-line search function.", + "All of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, Team Member productivity and in-stock availability.6WRUH\u00036XSSRUW\u0003&HQWHU\u0003 0HUFKDQGLVLQJ\u0011\u0003 Purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: ?", + "Store support center in Roanoke, Virginia; ?", + "Regional office in Minneapolis, Minnesota; and ?", + "Global sourcing office in Taipei, Taiwan.", + "Our Roanoke team is primarily responsible for the parts categories and our Minnesota team is primarily responsible for accessories, oil and chemicals.", + "Our global sourcing team works closely with both teams.", + "In Fiscal 2011, we purchased merchandise from approximately 500 vendors, with no single vendor accounting for more than 9% of purchases.", + "Our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume.", + "The merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand.", + "We believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity.", + "There were no new securitizations of home equity loans during 2009 and 2008.", + "The following table summarizes selected information related to home equity and automobile loan securitizations at and for the year ended December 31, 2009 and 2008.", + "|| Home Equity|Automobile|\n|(Dollars in millions)| 2009|2008| 2009|2008|\n| For the Year Ended December 31|||||||\n|Cash proceeds from new securitizations| $| \u2013|$\u2013| $| \u2013|$741|\n|Losses on securitizations-1| | \u2013|\u2013| | \u2013|-31|\n|Collections reinvested in revolving period securitizations| | 177|235| | \u2013|\u2013|\n|Repurchases of loans from trust-2| | 268|128| | 298|184|\n|Cash flows received on residual interests| | 35|27| | 52|\u2013|\n| At December 31|||||||\n|Principal balance outstanding| | 46,282|34,169| | 2,656|5,385|\n|Senior securities held-3, 4| | 15|\u2013| | 2,119|4,102|\n|Subordinated securities held-5| | 48|3| | 195|383|\n|Residual interests held-6| | 100|93| | 83|84|\n", + "(1) Net of hedges (2) Repurchases of loans from the trust for home equity loans are typically a result of the Corporation\u2019s representations and warranties, modifications or the exercise of an optional clean-up call.", + "In addition, during 2009 and 2008, the Corporation paid $141 million and $34 million to indemnify the investor or insurer under the representations and warranties, and corporate guarantees.", + "For further information regarding representations and warranties, and corporate guarantees, see the First Lien Mortgage-related Securitizations discussion.", + "Repurchases of automobile loans during 2009 and 2008 were due to the exercise of an optional clean-up call.", + "(3) As a holder of these securities, the Corporation receives scheduled interest and principal payments.", + "During 2009, there were no other-than-temporary impairment losses recorded on those securities classified as AFS debt securities.", + "(4) At December 31, 2009, all of the held senior securities issued by the home equity securitization trusts were valued using quoted market prices and classified as trading account assets.", + "At December 31, 2009 and 2008, substantially all of the held senior securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(5) At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the home equity securitization trusts were valued using model valuations and classified as AFS debt securities.", + "At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(6) Residual interests include the residual asset, overcollateralization and cash reserve accounts, which are carried at fair value or amounts that approximate fair value.", + "The residual interests were derived using model valuations and substantially all are classified in other assets.", + "Under the terms of the Corporation\u2019s home equity securitizations, advances are made to borrowers when they draw on their lines of credit and the Corporation is reimbursed for those advances from the cash flows in the securitization.", + "During the revolving period of the securitiza\u0002tion, this reimbursement normally occurs within a short period after the advance.", + "However, when the securitization transaction has begun a rapid amortization period, reimbursement of the Corporation\u2019s advance occurs only after other parties in the securitization have received all of the cash flows to which they are entitled.", + "This has the effect of extending the time period for which the Corporation\u2019s advances are outstanding.", + "In partic\u0002ular, if loan losses requiring draws on monoline insurers\u2019 policies, which protect the bondholders in the securitization, exceed a specified thresh\u0002old or duration, the Corporation may not receive reimbursement for all of the funds advanced to borrowers, as the senior bondholders and the monoline insurers have priority for repayment.", + "The Corporation evaluates all of its home equity securitizations for their potential to experience a rapid amortization event by estimating the amount and timing of future losses on the underlying loans, the excess spread available to cover such losses and by evaluating any estimated shortfalls in relation to contractually defined triggers.", + "A maximum funding obligation attributable to rapid amortization cannot be calculated as a home equity borrower has the ability to pay down and redraw balances.", + "At December 31, 2009 and 2008, home equity securitization transactions in rapid amortization had $14.1 billion and $13.1 billion of trust certifi\u0002cates outstanding.", + "This amount is significantly greater than the amount the Corporation expects to fund.", + "At December 31, 2009, an additional $1.1 billion of trust certificates outstanding pertain to home equity securi\u0002tization transactions that are expected to enter rapid amortization during the next 24 months.", + "The charges that will ultimately be recorded as a result of the rapid amortization events are dependent on the performance of the loans, the amount of subsequent draws, and the timing of related cash flows.", + "At December 31, 2009 and 2008, the reserve for losses on expected future draw obligations on the home equity securitizations in or expected to be in rapid amortization was $178 million and $345 million.", + "The Corporation has consumer MSRs from the sale or securitization of home equity loans.", + "The Corporation recorded $128 million and $78 mil\u0002lion of servicing fee income related to home equity securitizations during 2009 and 2008.", + "For more information on MSRs, see Note 22 \u2013 Mortgage Servicing Rights.", + "At December 31, 2009 and 2008, there were no recog\u0002nized servicing assets or liabilities associated with any of the automobile securitization transactions.", + "The Corporation recorded $43 million and $30 million in servicing fees related to automobile securitizations during 2009 and 2008.", + "The Corporation provides financing to certain entities under asset\u0002backed financing arrangements.", + "These entities are controlled and con\u0002solidated by third parties.", + "At December 31, 2009, the principal balance outstanding for these asset-backed financing arrangements was $10.4 billion, the maximum loss exposure was $6.8 billion, and on-balance sheet assets were $6.7 billion which are primarily recorded in loans and leases.", + "The total cash flows for 2009 were $491 million and are primarily related to principal and interest payments received.", + "NOTE 9 \u2013 Variable Interest Entities The Corporation utilizes SPEs in the ordinary course of business to sup\u0002port its own and its customers\u2019 financing and investing needs.", + "These SPEs are typically structured as VIEs and are thus subject to con\u0002solidation by the reporting enterprise that absorbs the majority of the economic risks and rewards of the VIE.", + "To determine whether it must consolidate a VIE, the Corporation qualitatively analyzes the design of the VIE to identify the creators of variability within the VIE, including an assessment as to the nature of the risks that are created by the assets and other contractual arrangements of the VIE, and identifies whether it will absorb a majority of that variability.", + "In addition, the Corporation uses VIEs such as trust preferred secu\u0002rities trusts in connection with its funding activities, as described in more detail in Note 13 \u2013 Long-term Debt.", + "The Corporation also uses VIEs in the form of synthetic securitization vehicles to mitigate a portion of the credit risk on its residential mortgage loan portfolio as described in", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 54 LIQUIDITY AND CAPITAL RESOURCES Cash, cash equivalents and marketable investment securities.", + "We consider all liquid investments purchased within 90 days of their maturity to be cash equivalents.", + "See \u201cItem 7A.", + "\u2013 Quantitative and Qualitative Disclosures About Market Risk\u201d for further discussion regarding our marketable investment securities.", + "As of December 31, 2008, our cash, cash equivalents and current marketable investment securities totaled $559 million compared to $2.788 billion as of December 31, 2007, a decrease of $2.229 billion.", + "Our principal source of liquidity during 2008 was cash generated by operating activities of $2.188 billion, approximately $750 million raised in issuing our 7 ?% Senior Notes due 2015 and the net sales of marketable and strategic investments of $166 million.", + "Our primary uses of cash during 2008 were for the redemption of $1.5 billion of debt, the purchases of property and equipment of $1.130 billion, the acquisition of 700 MHz wireless spectrum for $712 million, the distribution of $1.532 billion to EchoStar related to the Spin-off, and the repurchase of 3.1 million shares of our common stock for $83 million.", + "In addition, we reclassified $240 million of marketable investment securities on hand at December 31, 2007 to noncurrent assets during 2008 as recent events in the credit markets have reduced or eliminated current liquidity for these investments.", + "The following discussion highlights our free cash flow and cash flow activities during the years ended December 31, 2008, 2007 and 2006.", + "Free cash flow.", + "We define free cash flow as \u201cNet cash flows from operating activities\u201d less \u201cPurchases of property and equipment,\u201d as shown on our Consolidated Statements of Cash Flows.", + "We believe free cash flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to repay debt obligations, make investments, fund acquisitions and for certain other activities.", + "Free cash flow is not a measure determined in accordance with GAAP and should not be considered a substitute for \u201cOperating income,\u201d \u201cNet income,\u201d \u201cNet cash flows from operating activities\u201d or any other measure determined in accordance with GAAP.", + "Since free cash flow includes investments in operating assets, we believe this non-GAAP liquidity measure is useful in addition to the most directly comparable GAAP measure - \u201cNet cash flows from operating activities.", + "\u201d During the years ended December 31, 2008, 2007 and 2006, free cash flow was significantly impacted by changes in operating assets and liabilities as shown in the \u201cNet cash flows from operating activities\u201d section of our Consolidated Statements of Cash Flows included herein.", + "Operating asset and liability balances can fluctuate significantly from period to period and there can be no assurance that free cash flow will not be negatively impacted by material changes in operating assets and liabilities in future periods, since these changes depend upon, among other things, management\u2019s timing of payments and control of inventory levels, and cash receipts.", + "In addition to fluctuations resulting from changes in operating assets and liabilities, free cash flow can vary significantly from period to period depending upon, among other things, subscriber growth, subscriber revenue, subscriber churn, subscriber acquisition costs including amounts capitalized under our equipment lease programs, operating efficiencies, increases or decreases in purchases of property and equipment and other factors.", + "The following table reconciles free cash flow to \u201cNet cash flows from operating activities.", + "\u201d", + "|| For the Years Ended December 31,|\n|| 2008| 2007 (In thousands)| 2006|\n|Free cash flow|$1,058,454|$1,172,198|$882,924|\n|Add back:||||\n|Purchases of property and equipment|1,129,890|1,444,522|1,396,318|\n|Net cash flows from operating activities|$2,188,344|$2,616,720|$2,279,242|\n", + "The decline in free cash flow from 2007 to 2008 of $114 million resulted from a decrease in \u201cNet cash flows from operating activities\u201d of $429 million, or 16.4%, partially offset by a decrease in \u201cPurchases of property and equipment\u201d of $315 million, or 21.8%.", + "The decrease in \u201cNet cash flows from operating activities\u201d was primarily attributable to a $351 million decrease in cash resulting from changes in operating assets and liabilities and a $59 million decrease in net income, adjusted to exclude non-cash changes in \u201cDepreciation and amortization\u201d expense and \u201cRealized and", + "Notes to Consolidated Financial Statements Note 16.", + "Statutory Accounting Practices (Unaudited) CNA\u2019s domestic insurance subsidiaries maintain their accounts in conformity with accounting practices prescribed or permitted by insurance regulatory authorities, which vary in certain respects from GAAP.", + "In converting from statutory accounting principles to GAAP, typical adjustments include deferral of policy acquisition costs and the inclusion of net unrealized holding gains or losses in shareholders\u2019 equity relating to certain fixed maturity securities.", + "CNA\u2019s insurance subsidiaries are domiciled in various jurisdictions.", + "These subsidiaries prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the respective jurisdictions\u2019 insurance regulators.", + "Prescribed statutory accounting practices are set forth in a variety of publications of the National Association of Insurance Commissioners (\u201cNAIC\u201d) as well as state laws, regulations and general administrative rules.", + "CCC follows a permitted practice related to the statutory provision for reinsurance, or the uncollectible reinsurance reserve.", + "This permitted practice allows CCC to record an additional uncollectible reinsurance reserve amount through a different financial statement line item than the prescribed statutory convention.", + "This permitted practice had no effect on CCC\u2019s statutory surplus at December 31, 2007 or 2006.", + "CNA\u2019s ability to pay dividends and other credit obligations is significantly dependent on receipt of dividends from its subsidiaries.", + "The payment of dividends to CNA by its insurance subsidiaries without prior approval of the insurance department of each subsidiary\u2019s domiciliary jurisdiction is limited by formula.", + "Dividends in excess of these amounts are subject to prior approval by the respective state insurance departments.", + "Dividends from CCC are subject to the insurance holding company laws of the State of Illinois, the domiciliary state of CCC.", + "Under these laws, ordinary dividends, or dividends that do not require prior approval of the Illinois Department of Financial and Professional Regulation \u2013 Division of Insurance (the \u201cDepartment\u201d), may be paid only from earned surplus, which is calculated by removing unrealized gains from unassigned surplus.", + "As of December 31, 2007, CCC is in a positive earned surplus position, enabling CCC to pay approximately $630 million of dividend payments during 2008 that would not be subject to the Department\u2019s prior approval.", + "The actual level of dividends paid in any year is determined after an assessment of available dividend capacity, holding company liquidity and cash needs as well as the impact the dividends will have on the statutory surplus of the applicable insurance company.", + "CNA\u2019s domestic insurance subsidiaries are subject to risk-based capital requirements.", + "Risk-based capital is a method developed by the NAIC to determine the minimum amount of statutory capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile.", + "The formula for determining the amount of risk-based capital specifies various factors, weighted based on the perceived degree of risk, which are applied to certain financial balances and financial activity.", + "The adequacy of a company\u2019s actual capital is evaluated by a comparison to the risk-based capital results, as determined by the formula.", + "Companies below minimum risk-based capital requirements are classified within certain levels, each of which requires specified corrective action.", + "As of December 31, 2007 and 2006, all of CNA\u2019s domestic insurance subsidiaries exceeded the minimum risk-based capital requirements.", + "Combined statutory capital and surplus and net income, determined in accordance with accounting practices prescribed or permitted by insurance regulatory authorities for the property and casualty and the life insurance subsidiaries, were as follows:" + ], + "question_id": "simplong-test-117", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all amount that are smaller than 100 in 2008? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTE 19 SHAREHOLDERS\u2019 EQUITY Preferred Stock Information related to preferred stock is as follows:", + "|||Preferred Shares|\n|December 31Shares in thousands|Liquidationvalue per share| 2008|2007|\n|Authorized||||\n|$1 par value|| 16,960|16,985|\n|Issued and outstanding||||\n|Series A|$40| 6|7|\n|Series B|40| 1|1|\n|Series C|20| 119|128|\n|Series D|20| 171|186|\n|Series K|10,000| 50||\n|Series L|100,000| 2||\n|Series N|100,000| 76||\n|Total issued and outstanding|| 425|322|\n", + "On December 31, 2008, we issued $7.6 billion of Fixed Rate Cumulative Perpetual Preferred Stock, Series N, to the US Treasury under the US Treasury\u2019s Troubled Asset Relief Program (\u201cTARP\u201d) Capital Purchase Program, together with a warrant to purchase shares of common stock of PNC described below.", + "Series N dividends are payable on the 15th of February, May, August and November beginning February 15, 2009.", + "Dividends will be paid at a rate of 5.00% through February 15, 2014 and 9.00% thereafter.", + "This preferred stock is redeemable at par plus accrued and unpaid dividends subject to the approval of our primary banking regulators.", + "Under the TARP Capital Purchase Program, there are restrictions on common and preferred dividends and common share repurchases associated with the preferred stock issued to the US Treasury.", + "As is typical with cumulative preferred stock, dividend payments for this preferred stock must be current before dividends can be paid on junior shares, including our common stock, or junior shares can be repurchased or redeemed.", + "Also, the US Treasury\u2019s consent is required for any increase in common dividends per share above the most recent level prior to October 14, 2008 until the third anniversary of the preferred stock issuance as long as the US Treasury continues to hold any of the preferred stock.", + "Further, during that same period, the US Treasury\u2019s consent is required, unless the preferred stock is no longer held by the US Treasury, for any share repurchases with limited exceptions, most significantly purchases of common shares in connection with any benefit plan in the ordinary course of business consistent with past practice.", + "As part of the National City transaction, we issued 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L in exchange for National City\u2019s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F. Dividends are payable if and when declared each 1st of February, May, August and November.", + "Dividends will be paid at a rate of 9.875% prior to February 1, 2013 and at a rate of three-month LIBOR plus 633 basis points beginning February 1, 2013.", + "The Series L is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after February 1, 2013 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "Also as part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M, which mirrors in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. PNC has designated 5,751preferred shares, liquidation value $100,000 per share, for this series.", + "No shares have yet been issued; however, National City issued stock purchase contracts for 5,001 shares of its Series E Preferred Stock (now replaced by the PNC Series M as part of the National City transaction) to the National City Preferred Capital Trust I in connection with the issuance by that Trust of $500 million of 12.000% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the \u201cNormal APEX Securities\u201d) in January 2008 by the Trust.", + "It is expected that the Trust will purchase 5,001 of the Series M preferred shares pursuant to these stock purchase contracts on December 10, 2012 or on an earlier date and possibly as late as December 10, 2013.", + "The Trust has pledged the $500,100,000 principal amount of National City 8.729% Junior Subordinated Notes due 2043 held by the Trust and their proceeds to secure this purchase obligation.", + "If Series M shares are issued prior to December 10, 2012, any dividends on such shares will be calculated at a rate per annum equal to 12.000% until December 10, 2012, and thereafter, at a rate per annum that will be reset quarterly and will equal three-month LIBOR for the related dividend period plus 8.610%.", + "Dividends will be payable if and when declared by the Board at the dividend rate so indicated applied to the liquidation preference per share of the Series M Preferred Stock.", + "The Series M is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after December 10, 2012 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "As a result of the National City transaction, we assumed National City\u2019s obligations under replacement capital covenants with respect to (i) the Normal APEX Securities and our Series M shares and (ii) National City\u2019s 6,000,000 of Depositary Shares (each representing 1/4000th of an interest in a share of our 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L), whereby we agreed not to cause the redemption or repurchase of the Normal APEX or Depositary Shares, as applicable, or the underlying Preferred Stock and/or junior subordinated notes, as applicable, unless such repurchases or redemptions are made from the proceeds of the issuance of certain qualified securities and pursuant to the other terms and conditions set", + "amount of unrecognized tax benefit related to permanent differences because a portion of those unrecognized benefits relate to state tax matters.", + "It is reasonably possible that the liability for uncertain tax positions could increase or decrease in the next twelve months due to completion of tax authorities\u2019 exams or the expiration of statutes of limitations.", + "Management estimates that the liability for uncertain tax positions could decrease by $5 million within the next twelve months.", + "The consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries through 2003 have been audited by the Internal Revenue Service and we have resolved all disputed matters through the IRS appeals division.", + "The Internal Revenue Service is currently examining the 2004 through 2006 consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries.", + "The consolidated federal income tax returns of National City Corporation and subsidiaries through 2004 have been audited by the Internal Revenue Service and we have reached agreement in principle on resolution of all disputed matters through the IRS appeals division.", + "However, because the agreement is still subject to execution of a closing agreement we have not treated it as effectively settled.", + "The Internal Revenue Service is currently examining the 2005 through 2007 consolidated federal income tax returns of National City Corporation and subsidiaries, and we expect the 2008 federal income tax return to begin being audited as soon as it is filed.", + "New York, New Jersey, Maryland and New York City are principally where we were subject to state and local income tax prior to our acquisition of National City.", + "The state of New York is currently in the process of closing the 2002 to 2004 audit and will begin auditing the years 2005 and 2006.", + "New York City is currently auditing 2004 and 2005.", + "However, years 2002 and 2003 remain subject to examination by New York City pending completion of the New York state audit.", + "Through 2006, BlackRock is included in our New York and New York City combined tax filings and constituted most of the tax liability.", + "Years subsequent to 2004 remain subject to examination by New Jersey and years subsequent to 2005 remain subject to examination by Maryland.", + "National City was principally subject to state and local income tax in California, Florida, Illinois, Indiana, and Missouri.", + "Audits currently in process for these states include: California (2003-2004), Illinois (2004-2006) and Missouri (2003-2005).", + "We will now also be principally subject to tax in those states.", + "In the ordinary course of business we are routinely subject to audit by the taxing authorities of these states and at any given time a number of audits will be in process.", + "Our policy is to classify interest and penalties associated with income taxes as income taxes.", + "At January 1, 2008, we had accrued $91 million of interest related to tax positions, most of which related to our cross-border leasing transactions.", + "The total accrued interest and penalties at December 31, 2008 was $164 million.", + "While the leasing related interest decreased with a payment to the IRS, the $73 million net increase primarily resulted from our acquisition of National City.", + "NOTE 22 SUMMARIZED FINANCIAL INFORMATION OF BLACKROCK As required by SEC Regulation S-X, summarized consolidated financial information of BlackRock follows (in millions).", + "|December 31|2008|2007|\n|Total assets|$19,924|$22,561|\n|Total liabilities|$7,367|$10,387|\n|Non-controlling interest|491|578|\n|Stockholders\u2019 equity|12,066|11,596|\n|Total liabilities, non-controlling interest and stockholders\u2019 equity|$19,924|$22,561|\n|Year ended December 31|2008|2007|\n|Total revenue|$5,064|$4,845|\n|Total expenses|3,471|3,551|\n|Operating income|1,593|1,294|\n|Non-operating income (expense)|-574|529|\n|Income before income taxes and non-controlling interest|1,019|1,823|\n|Income taxes|388|464|\n|Non-controlling interest|-155|364|\n|Net income|$786|$995|\n", + "NOTE 23 REGULATORY MATTERS We are subject to the regulations of certain federal and state agencies and undergo periodic examinations by such regulatory authorities.", + "The access to and cost of funding new business initiatives including acquisitions, the ability to pay dividends, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in large part, on a financial institution\u2019s capital strength.", + "The minimum US regulatory capital ratios are 4% for tier 1 risk-based, 8% for total risk\u0002based and 4% for leverage.", + "However, regulators may require higher capital levels when particular circumstances warrant.", + "To qualify as \u201cwell capitalized,\u201d regulators require banks to maintain capital ratios of at least 6% for tier 1 risk-based, 10% for total risk-based and 5% for leverage.", + "At December 31, 2008 and December 31, 2007, each of our domestic bank subsidiaries met the \u201cwell capitalized\u201d capital ratio requirements.", + "We recorded such loans at estimated fair value and considered them to be performing, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), since certain purchase accounting adjustments will be accreted to interest income over time.", + "The accretion will represent the discount associated with the difference between the expected cash flows and estimated fair value of the loans.", + "This accounting treatment resulted in the return to performing status of $3.2 billion of loans previously classified as nonperforming by National City.", + "The purchase accounting adjustments were estimated as of December 31, 2008 and such estimates may be refined during the first quarter of 2009.", + "At December 31, 2008, our largest nonperforming asset was approximately $36 million and our average nonperforming loan associated with commercial lending was less than $1 million.", + "The amount of nonperforming loans that was current as to principal and interest was $555 million at December 31, 2008 and $178 million at December 31, 2007.", + "Accruing Loans Past Due 90 Days Or More- Summary", + "|| Amount| Percent of Total Outstandings|\n|Dollars in millions| Dec. 31 2008 (a)|Dec. 312007|Dec. 31 2008 (a)|Dec. 312007|\n|Commercial|$97|$14|.14%|.05%|\n|Commercial real estate|723|18|2.81|.20|\n|Equipment lease financing|2||.03||\n|Consumer|419|49|.80|.27|\n|Residential real estate|2,011|43|9.32|.45|\n|Other|7|12|.37|2.91|\n|Total|$3,259|$136|1.86%|.20%|\n", + "(a) Amounts include the impact of National City.", + "Loans that are not included in nonperforming or past due categories but cause us to be uncertain about the borrower\u2019s ability to comply with existing repayment terms over the next six months totaled $745 million at December 31, 2008, compared with $134 million at December 31, 2007.", + "Allowances For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit We maintain an allowance for loan and lease losses to absorb losses from the loan portfolio.", + "We determine the allowance based on quarterly assessments of the probable estimated losses inherent in the loan portfolio.", + "While we make allocations to specific loans and pools of loans, the total reserve is available for all loan and lease losses.", + "In addition to the allowance for loan and lease losses, we maintain an allowance for unfunded loan commitments and letters of credit.", + "We report this allowance as a liability on our Consolidated Balance Sheet.", + "We determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures.", + "This methodology is similar to the one we use for determining the adequacy of our allowance for loan and lease losses.", + "We refer you to Note 5 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report regarding changes in the allowance for loan and lease losses and in the allowance for unfunded loan commitments and letters of credit.", + "Also see the Allocation Of Allowance For Loan And Lease Losses table in the Statistical Information (Unaudited) section of Item 8 of this Report for additional information included herein by reference.", + "We establish specific allowances for loans considered impaired using a method prescribed by SFAS 114, \u201cAccounting by Creditors for Impairment of a Loan.", + "\u201d All impaired loans except leases and large groups of smaller\u0002balance homogeneous loans which may include but are not limited to credit card, residential mortgage, and consumer installment loans are subject to SFAS 114 analysis.", + "Specific allowances for individual loans over a set dollar threshold are determined by our Special Asset Committee based on an analysis of the present value of expected future cash flows from the loans discounted at their effective interest rate, observable market price, or the fair value of the underlying collateral.", + "We establish specific allowance on all other impaired loans based on the loss given default credit risk rating.", + "Allocations to non-impaired commercial and commercial real estate loans (pool reserve allocations) are assigned to pools of loans as defined by our business structure and are based on internal probability of default and loss given default credit risk ratings.", + "Key elements of the pool reserve methodology include: ?", + "Probability of default (\u201cPD\u201d), which is primarily based on historical default analyses and is derived from the borrower\u2019s internal PD credit risk rating; ?", + "Exposure at default (\u201cEAD\u201d), which is derived from historical default data; and ?", + "Loss given default (\u201cLGD\u201d), which is based on historical loss data, collateral value and other structural factors that may affect our ultimate ability to collect on the loan and is derived from the loan\u2019s internal LGD credit risk rating.", + "Our pool reserve methodology is sensitive to changes in key risk parameters such as PDs, LGDs and EADs.", + "In general, a given change in any of the major risk parameters will have a corresponding change in the pool reserve allocations for non-impaired commercial loans.", + "Our commercial loans are the largest category of credits and are most sensitive to changes in the key risk parameters and pool reserve loss rates.", + "To illustrate, if we increase the pool reserve loss rates by 5% for all categories of non-impaired commercial loans, then the" + ], + "question_id": "simplong-test-118", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average increasing rate of Money market funds between 2012 and 2013?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "We have derivative instruments with credit-risk-related contingent features.", + "For foreign exchange contracts with original maturities of at least five years, our derivative counterparties could require settlement if we default on our five-year credit facility.", + "For commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings.", + "The fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position at December 31, 2013 was $7.", + "At December 31, 2013, there was no collateral posted related to our derivatives.", + "Note 18 \u2013 Significant Group Concentrations of Risk Credit Risk Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U. S. government.", + "Of the $10,670 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2013, $4,870 related predominantly to commercial aircraft customers ($924 of accounts receivable and $3,946 of customer financing) and $3,604 related to the U. S. government.", + "Of the $4,020 in gross customer financing, $2,720 related to customers we believe have less than investment-grade credit including American Airlines, United/Continental Airlines, and Hawaiian Airlines who were associated with 11%, 9% and 8%, respectively, of our financing portfolio.", + "Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.", + "Other Risk As of December 31, 2013, approximately 38% of our total workforce was represented by collective bargaining agreements and approximately 1% of our total workforce was represented by agreements expiring in 2014.", + "Note 19 \u2013 Fair Value Measurements The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.", + "The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.", + "Level 1 refers to fair values determined based on quoted prices in active markets for identical assets.", + "Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.", + "||December 31, 2013|December 31, 2012|\n||Total|Level 1|Level 2|Level 3|Total|Level 1|Level 2|Level 3|\n|Assets|||||||||\n|Money market funds|$3,783|$3,783|||$4,534|$4,534|||\n|Available-for-sale investments|8|6||$2|9|6||$3|\n|Derivatives|86||$86||178||$178||\n|Total assets|$3,877|$3,789|$86|$2|$4,721|$4,540|$178|$3|\n|Liabilities|||||||||\n|Derivatives|-$79||-$79||-$84||-$84||\n|Total liabilities|-$79||-$79||-$84||-$84||\n", + "Money market funds and available-for-sale equity securities are valued using a market approach based on the quoted market prices of identical instruments.", + "Available-for-sale debt investments are primarily valued using an income approach based on benchmark yields, reported trades and broker/dealer quotes.", + "on consolidated debt as a percentage of total capital (as defined).", + "When considering debt covenants, we continue to have substantial borrowing capacity.", + "Contractual Obligations The following table summarizes our known obligations to make future payments pursuant to certain contracts as of December 31, 2014, and the estimated timing thereof.", + "|(Dollars in millions)|Total|Lessthan 1year|1-3years|3-5years|After 5years|\n|Long-term debt (including current portion)|$8,950|$870|$1,356|$1,871|$4,853|\n|Interest on debt-1|5,387|431|800|729|3,427|\n|Pension and other postretirement cash requirements|10,965|477|1,080|1,972|7,436|\n|Capital lease obligations|169|67|73|17|12|\n|Operating lease obligations|1,503|226|386|271|620|\n|Purchase obligations not recorded on the Consolidated Statements of Financial Position|131,549|47,249|37,187|20,505|26,608|\n|Purchase obligations recorded on the Consolidated Statements of Financial Position|16,872|15,959|891|5|17|\n|Total contractual obligations|$175,395|$65,279|$41,773|$25,370|$42,973|\n", + "(1) Includes interest on variable rate debt calculated based on interest rates at December 31, 2014.", + "Variable rate debt was 3% of our total debt at December 31, 2014.", + "Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to ERISA regulations, although we may make additional discretionary contributions.", + "Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts.", + "Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable, or indexed price provision; and specify approximate timing of the transaction.", + "Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position.", + "Approximately 4% of the purchase obligations disclosed above are reimbursable to us pursuant to cost-type government contracts.", + "Purchase Obligations Not Recorded on the Consolidated Statements of Financial Position Production related purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, and other miscellaneous production related obligations.", + "The most significant obligation relates to inventory procurement contracts.", + "We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes.", + "In addition, we purchase raw materials on behalf of our suppliers.", + "These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules.", + "The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products.", + "A significant portion of these inventory commitments is supported by firm contracts and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery.", + "These amounts are also included in our forecasts of costs for program and contract accounting.", + "Some inventory procurement contracts may include escalation adjustments.", + "In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above.", + "The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2018 is as follows:", + "||Pension|Other Postretirement Benefits|\n|Recognized net actuarial loss/(gain)|$1,128|-$10|\n|Amortization of prior service (credits)|-56|-126|\n|Total|$1,072|-$136|\n", + "The accumulated benefit obligation (ABO) for all pension plans was $77,414 and $74,240 at December 31, 2017 and 2016.", + "Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:", + "||2017|2016|\n|Projected benefit obligation|$74,953|$76,586|\n|Accumulated benefit obligation|71,975|74,081|\n|Fair value of plan assets|$58,353|$56,530|\n", + "Assumptions The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.", + "|December 31,|2017|2016|2015|\n|Discount rate:||||\n|Pension|3.60%|4.00%|4.20%|\n|Other postretirement benefits|3.30%|3.70%|3.80%|\n|Expected return on plan assets|6.80%|6.80%|7.00%|\n|Rate of compensation increase|5.30%|4.40%|4.00%|\n", + "The discount rate for each plan is determined based on the plans\u2019 expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date.", + "The yield curve is fitted to yields developed from bonds at various maturity points.", + "Bonds with the ten percent highest and the ten percent lowest yields are omitted.", + "A portfolio of about 400 bonds is used to construct the yield curve.", + "Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point.", + "The present value of each plan\u2019s benefits is calculated by applying the discount rates to projected benefit cash flows.", + "All bonds are U. S. issues, with a minimum outstanding of $50.", + "The pension fund\u2019s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes.", + "While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return.", + "The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA).", + "Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets.", + "As of December 31, 2017, the MRVA was approximately $2,260 less than the fair market value of assets.", + "and machine tooling to enhance manufacturing operations, and ongoing replacements of manufacturing and distribution equipment.", + "Capital spending in all three years also included spending for the replacement and enhancement of the company\u2019s global enterprise resource planning (ERP) management information systems, as well as spending to enhance the company\u2019s corporate headquarters and research and development facilities in Kenosha, Wisconsin.", + "Snap-on believes that its cash generated from operations, as well as its available cash on hand and funds available from its credit facilities will be sufficient to fund the company\u2019s capital expenditure requirements in 2013.", + "In 2010, Snap-on acquired the remaining 40% interest in Snap-on Asia Manufacturing (Zhejiang) Co. , Ltd. , the company\u2019s tool manufacturing operation in Xiaoshan, China, for a purchase price of $7.7 million and $0.1 million of transaction costs; Snap-on acquired the initial 60% interest in 2008.", + "See Note 2 to the Consolidated Financial Statements for additional information.", + "Financing Activities Net cash used by financing activities was $127.0 million in 2012.", + "Net cash used by financing activities of $293.7 million in 2011 included the August 2011 repayment of $200 million of unsecured 6.25% notes upon maturity with available cash.", + "In December 2010, Snap-on sold $250 million of unsecured 4.25% long-term notes at a discount; Snap-on is using, and has used, the $247.7 million of proceeds from the sale of these notes, net of $1.6 million of transaction costs, for general corporate purposes, which included working capital, capital expenditures, repayment of all or a portion of the company\u2019s $200 million, 6.25% unsecured notes that matured in August 2011, and the financing of finance and contract receivables, primarily related to SOC.", + "In January 2010, Snap-on repaid $150 million of unsecured floating rate debt upon maturity with available cash.", + "Proceeds from stock purchase and option plan exercises totaled $46.8 million in 2012, $25.7 million in 2011 and $23.7 million in 2010.", + "Snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans, stock options and other corporate purposes.", + "In 2012, Snap-on repurchased 1,180,000 shares of its common stock for $78.1 million under its previously announced share repurchase programs.", + "As of 2012 year end, Snap-on had remaining availability to repurchase up to an additional $180.9 million in common stock pursuant to its Board of Directors\u2019 (the \u201cBoard\u201d) authorizations.", + "The purchase of Snap-on common stock is at the company\u2019s discretion, subject to prevailing financial and market conditions.", + "Snap-on repurchased 628,000 shares of its common stock for $37.4 million in 2011; Snap-on repurchased 152,000 shares of its common stock for $8.7 million in 2010.", + "Snap-on believes that its cash generated from operations, available cash on hand, and funds available from its credit facilities, will be sufficient to fund the company\u2019s share repurchases, if any, in 2013.", + "Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939.", + "Cash dividends paid in 2012, 2011 and 2010 totaled $81.5 million, $76.7 million and $71.3 million, respectively.", + "On November 1, 2012, the company announced that its Board increased the quarterly cash dividend by 11.8% to $0.38 per share ($1.52 per share per year).", + "Quarterly dividends declared in 2012 were $0.38 per share in the fourth quarter and $0.34 per share in the first three quarters ($1.40 per share for the year).", + "Quarterly dividends in 2011 were $0.34 per share in the fourth quarter and $0.32 per share in the first three quarters ($1.30 per share for the year).", + "Quarterly dividends in 2010 were $0.32 per share in the fourth quarter and $0.30 per share in the first three quarters ($1.22 per share for the year)." + ], + "question_id": "simplong-test-119", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of UPS Contributions and Accruals in the range of 100 and 1000 in 2013? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "an increase of $0.10 in the delivery area surcharge on both residential and commercial services to certain ZIP codes.", + "These rate changes are customary, and are consistent with previous years\u2019 rate increases.", + "Additionally, we modified the fuel surcharge on domestic and U. S. -origin international air services by reducing by 2% the index used to determine the fuel surcharge.", + "The UPS Ground fuel surcharge continues to fluctuate based on the U. S. Energy Department\u2019s On-Highway Diesel Fuel Price.", + "Rate changes for shipments originating outside the U. S. were made throughout the past year and varied by geographic market.", + "In January 2008, UPS Freight announced a general rate increase averaging 5.4 percent covering non-contractual shipments in the United States and Canada.", + "The increase goes into effect on February 4, 2008, and applies to minimum charge, LTL and TL rates.", + "Investing Activities Net cash used in investing activities was $2.199 billion, $2.340 billion, and $975 million in 2007, 2006, and 2005, respectively.", + "The decrease in cash used in 2007 compared with 2006 was primarily due to lower capital expenditures and increased net sales of marketable securities and short-term investments.", + "Net sales of marketable securities and short-term investments were $621 million, $482 million, and $2.752 billion in 2007, 2006, and 2005, respectively, and were primarily used to fund our pension and postretirement medical benefit plans, as well as complete business acquisitions.", + "In 2005, we spent $1.488 billion on business acquisitions, primarily Overnite Corp. , Lynx Express Ltd. in the United Kingdom, Messenger Service Stolica S. A. in Poland, and the express operations of Sinotrans Air Transportation Development Co. Ltd. in China (See Note 7 to the consolidated financial statements).", + "We had a net cash use of $39 million in 2007, compared with cash generation of $68 and $95 million in 2006 and 2005, respectively, due to originations, sales, and customer paydowns of finance receivables, primarily in our commercial lending, asset-based lending, and leasing portfolios.", + "In the second quarter of 2006, we terminated several energy derivatives and received $229 million in cash, which is reported in other investing activities in the statement of cash flows.", + "These derivatives were designated as hedges of forecasted cash outflows for purchases of fuel products.", + "As these derivatives maintained their effectiveness and qualified for hedge accounting, we recognized the gains associated with these hedges as a reduction of fuel expense over the original term of the hedges through 2007.", + "Capital expenditures represent a primary use of cash in investing activities, as follows (in millions):", + "|| 2007| 2006| 2005|\n|Buildings and facilities|$853|$720|$495|\n|Aircraft and parts|1,137|1,150|874|\n|Vehicles|492|831|456|\n|Information technology|338|384|362|\n||$2,820|$3,085|$2,187|\n", + "As described in the \u201cCommitments\u201d section below, we have commitments for the purchase of aircraft, vehicles, equipment and other fixed assets to provide for the replacement of existing capacity and anticipated future growth.", + "We fund our capital expenditures with our cash from operations.", + "Financing Activities Net cash provided by (used in) financing activities was $2.297, ($3.851), and ($4.175) billion in 2007, 2006, and 2005, respectively.", + "As of December 31, 2007, we increased our commercial paper borrowings to $7.366 billion, an increase of $6.575 billion over December 31, 2006.", + "This issuance of commercial paper was used to fund the withdrawal payment to the Central States Pension Fund upon ratification of our labor contract with the Teamsters, as previously discussed.", + "The commercial paper balance was reduced subsequent to December 31, 2007 as a result of an issuance of long-term debt (discussed further in the \u201cSources of Credit\u201d section) and the receipt of an income tax refund.", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) UPS class B common stock on the first or the last day of each quarterly period.", + "Employees purchased 1.8, 1.9, and 2.0 million shares at average prices of $64.20, $66.64, and $64.54 per share during 2007, 2006, and 2005, respectively.", + "Compensation cost is measured for the fair value of employees\u2019 purchase rights under our discounted employee stock purchase plan using the Black-Scholes option pricing model.", + "The weighted average assumptions used and the calculated weighted average fair value of employees\u2019 purchase rights granted, are as follows:", + "||2007|2006|2005|\n|Expected dividend yield|2.13%|1.79%|1.62%|\n|Risk-free interest rate|4.60%|4.59%|2.84%|\n|Expected life in years|0.25|0.25|0.25|\n|Expected volatility|16.26%|15.92%|15.46%|\n|Weighted average fair value of purchase rights*|$9.80|$10.30|$9.46|\n", + "* Includes the 10% discount from the market price.", + "Expected volatilities are based on the historical price volatility on our publicly-traded class B shares.", + "The expected dividend yield is based on the recent historical dividend yields for our stock, taking into account changes in dividend policy.", + "The risk-free interest rate is based on the term structure of interest rates on U. S. Treasury securities at the time of the option grant.", + "The expected life represents the three month option period applicable to the purchase rights.", + "NOTE 12.", + "SEGMENT AND GEOGRAPHIC INFORMATION We report our operations in three segments: U. S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations.", + "Package operations represent our most significant business and are broken down into regional operations around the world.", + "Regional operations managers are responsible for both domestic and export operations within their geographic area.", + "U. S. Domestic Package Domestic Package operations include the time-definite delivery of letters, documents, and packages throughout the United States.", + "International Package International Package operations include delivery to more than 200 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or distribution outside the United States.", + "Our International Package reporting segment includes the operations of our Europe, Asia, and Americas operating segments.", + "Supply Chain & Freight Supply Chain & Freight includes our forwarding and logistics operations, UPS Freight, and other aggregated business units.", + "Our forwarding and logistics business provides services in more than 175 countries and territories worldwide, and includes supply chain design and management, freight distribution, customs brokerage, mail and consulting services.", + "UPS Freight offers a variety of LTL and TL services to customers in North America.", + "Other aggregated business units within this segment include Mail Boxes, Etc.", + "(the franchisor of Mail Boxes, Etc.", + "and The UPS Store) and UPS Capital.", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 83 Certain plans have been aggregated in the \u201cAll Other Multiemployer Pension Plans\u201d line in the following table, as the contributions to each of these individual plans are not material.", + "||EIN / PensionPlan|PensionProtection ActZone Status|FIP/RP StatusPending/|(in millions)UPS Contributions and Accruals|Surcharge|\n|Pension Fund|Number|2013|2012|Implemented|2013|2012|2011|Imposed|\n|Alaska Teamster-Employer Pension Plan|92-6003463-024|Red|Red|Yes/Implemented|$5|$4|$4|No|\n|Automotive Industries Pension Plan|94-1133245-001|Red|Red|Yes/Implemented|4|4|4|No|\n|Central Pennsylvania Teamsters Defined Benefit Plan|23-6262789-001|Green|Yellow|Yes/Implemented|30|29|27|No|\n|Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund|55-6021850-001|Green|Green|No|9|9|8|No|\n|Hagerstown Motor Carriers and Teamsters Pension Fund|52-6045424-001|Red|Red|Yes/Implemented|5|5|5|No|\n|I.A.M. National Pension Fund / National Pension Plan|51-6031295-002|Green|Green|No|27|24|25|No|\n|International Brotherhood of Teamsters Union Local No. 710 Pension Fund|36-2377656-001|Green|Green|No|88|75|74|No|\n|Local 705, International Brotherhood of Teamsters Pension Plan|36-6492502-001|Red|Red|Yes/Implemented|68|46|58|No|\n|Local 804 I.B.T. & Local 447 I.A.M.\u2014UPS Multiemployer Retirement Plan|51-6117726-001|Red|Red|Yes/Implemented|88|87|84|No|\n|Milwaukee Drivers Pension Trust Fund|39-6045229-001|Green|Green|No|29|26|26|No|\n|New England Teamsters & Trucking Industry Pension Fund|04-6372430-001|Red|Red|Yes/Implemented|102|124|124|No|\n|New York State Teamsters Conference Pension and Retirement Fund|16-6063585-074|Red|Red|Yes/Implemented|72|65|57|No|\n|Teamster Pension Fund of Philadelphia and Vicinity|23-1511735-001|Yellow|Yellow|Yes/Implemented|46|44|41|No|\n|Teamsters Joint Council No. 83 of Virginia Pension Fund|54-6097996-001|Yellow|Yellow|Yes/Implemented|49|44|41|No|\n|Teamsters Local 639\u2014Employers Pension Trust|53-0237142-001|Green|Green|No|41|36|33|No|\n|Teamsters Negotiated Pension Plan|43-6196083-001|Yellow|Red|Yes/Implemented|26|24|22|No|\n|Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan|52-6043608-001|Yellow|Yellow|Yes/Implemented|14|14|12|No|\n|United Parcel Service, Inc.\u2014Local 177, I.B.T. Multiemployer Retirement Plan|13-1426500-419|Red|Red|Yes/Implemented|68|62|57|No|\n|Western Conference of Teamsters Pension Plan|91-6145047-001|Green|Green|No|553|520|476|No|\n|Western Pennsylvania Teamsters and Employers Pension Fund|25-6029946-001|Red|Red|Yes/Implemented|23|24|21|No|\n|All Other Multiemployer Pension Plans|||||49|59|44||\n|||||Total Contributions|$1,396|$1,325|$1,243||\n", + "In 2012, we reached an agreement with the New England Teamsters and Trucking Industry Pension Fund (\"NETTI Fund\"), a multiemployer pension plan in which UPS is a participant, to restructure the pension liabilities for approximately 10,200 UPS employees represented by the Teamsters.", + "The agreement reflected a decision by the NETTI Fund's trustees to restructure the NETTI Fund through plan amendments to utilize a \"two pool approach\", which effectively subdivided the plan assets and liabilities between two groups of beneficiaries.", + "As part of this agreement, UPS agreed to withdraw from the original pool of the NETTI Fund, of which it had historically been a participant, and reenter the NETTI Fund's newly-established pool as a new employer.", + "Upon ratification of the agreement by the Teamsters in September 2012, we withdrew from the original pool of the NETTI Fund and incurred an undiscounted withdrawal liability of $2.162 billion to be paid in equal monthly installments over 50 years.", + "The undiscounted withdrawal liability was calculated by independent actuaries employed by the NETTI Fund, in accordance with the governing plan documents and the applicable requirements of the Employee Retirement Income Security Act of 1974.", + "In 2012, we recorded a charge to expense to establish an $896 million withdrawal liability on our consolidated balance sheet, which represents the present value of the $2.162 billion future payment obligation discounted at a 4.25% interest rate.", + "This discount rate represents the estimated credit-adjusted market rate of interest at which we could obtain financing of a similar maturity and seniority.", + "As this agreement is not a contribution to the plan, the amounts reflected in the previous table do not include this $896 million non-cash transaction.", + "The $896 million charge to expense recorded in 2012 is included in \"compensation and benefits\" expense in the statements of consolidated income, while the corresponding withdrawal liability is included in \"other non-current liabilities\" on the consolidated balance sheet.", + "We impute interest on the withdrawal liability using the 4.25% discount rate, while the monthly payments made to the NETTI Fund reduce the remaining balance of the withdrawal liability.", + "AMGEN INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) sales (excluding amortization of intangible assets),\u201d \u201cResearch and development\u201d and \u201cSelling, general and ad\u0002ministrative\u201d expenses for the year ended December 31, 2007 are the reversal of previously accrued expenses for bonuses and stock-based compensation awards totaling $31 million, which were forfeited as a result of the em\u0002ployees\u2019 termination.", + "We also recorded asset impairment charges of $59 million and $408 million during the years ended De\u0002cember 31, 2008 and 2007, respectively.", + "The charges for both periods represent the write-off of the total cost of the related assets as they were abandoned with no alternative future uses or residual value.", + "The charges for 2008 included impairments primarily for certain manufacturing-related assets.", + "The charges in 2007 were primarily in\u0002curred in connection with our decisions to make changes to certain manufacturing and, to a lesser degree, certain R&D capital projects and to close certain production operations.", + "In particular, these decisions in 2007 included certain revisions to and the subsequent indefinite postponement of our planned Ireland manufacturing operations, certain revisions to our planned manufacturing expansion in Puerto Rico and the closure of a clinical manufactur\u0002ing facility in Thousand Oaks, California.", + "In addition, in connection with the rationalization of our worldwide network of manufacturing facilities in 2007, we decided to accelerate the closure of one of our ENBREL commercial bulk manufacturing operations.", + "The decision to accelerate the closure of this manufacturing operation was principally based on a thorough re\u0002view of the supply plans for bulk ENBREL inventory across its worldwide manufacturing network, including consideration of expected increases in manufacturing yields, and the determination that the related assets no lon\u0002ger had any alternative future uses in our operations.", + "Because the related estimated future cash flows for this manufacturing operation were sufficient to recover the respective book values, we were required to accelerate depreciation of the related assets rather than immediately impairing their carrying values.", + "The amount included in \u201cCost of sales (excluding amortization of intangible assets)\u201d in the table above, $147 million, represents the ex\u0002cess of the accelerated depreciation expense recognized during the year ended December 31, 2007 over the depreciation that would otherwise have been recorded, $6 million, if there were no plans to accelerate the closure of this manufacturing operation.", + "During the years ended December 31, 2008 and 2007, we also recorded cost recoveries of $1 million and $114 million, respectively, for certain restructuring charges, principally with respect to accelerated depreciation, in connection with our co-promotion agreement with Wyeth.", + "Such amounts are recorded as a reduction of the Wyeth profit share expense included in \u201cSelling, general and administrative\u201d expenses.", + "Also included in \u201cSelling, general and administrative\u201d expenses in 2008 are $12 million of loss accruals for leases principally related to cer\u0002tain facilities that will not be used in our operations and $9 million for implementation costs associated with certain restructuring initiatives.", + "In addition during the years ended December 31, 2008 and 2007, we accrued $49 million and $119 million, respectively, included in \u201cOther charges,\u201d primarily related to loss accruals for leases for certain facilities that will not be used in our operations.", + "For 2007, these charges primarily related to loss ac\u0002cruals for leases for certain R&D facilities.", + "In addition, in 2008, we recorded a $10 million loss on the disposal of certain less significant marketed products that is included in \u201cInterest and other income, net.", + "\u201d The following table summarizes the charges and spending relating to the restructuring plan (in millions):", + "||Separation costs|Other|Total|\n|Restructuring reserves as of January 1, 2007|$\u2014|$\u2014|$\u2014|\n|Expense|209|119|328|\n|Payments|-112|-17|-129|\n|Restructuring reserves as of December 31, 2007|97|102|199|\n|Expense|10|76|86|\n|Payments|-103|-16|-119|\n|Restructuring reserves as of December 31, 2008|$4|$162|$166|\n", + "Introduction This introduction contains certain information about Con Edison and its subsidiaries, including CECONY.", + "This introduction is not a summary and should be read together with, and is qualified in its entirety by reference to, the more detailed information appearing elsewhere or incorporated by reference in this report.", + "Con Edison\u2019s mission is to provide energy services to our customers safely, reliably, efficiently and in an environmentally sound manner; to provide a workplace that allows employees to realize their full potential; to provide a fair return to our investors; and to improve the quality of life in the communities we serve.", + "The company has ongoing programs designed to support its mission, including initiatives focused on safety, operational excellence, the customer experience and cost optimization.", + "Con Edison is a holding company that owns: ?", + "Consolidated Edison Company of New York, Inc. (CECONY), which delivers electricity, natural gas and steam to customers in New York City and Westchester County; ?", + "Orange & Rockland Utilities, Inc. (O&R), which together with its subsidiary, Rockland Electric Company, delivers electricity and natural gas to customers primarily located in southeastern New York State and northern New Jersey (O&R, together with CECONY referred to as the Utilities); ?", + "Con Edison Clean Energy Businesses, Inc. , which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers (Con Edison Clean Energy Businesses, Inc. , together with its subsidiaries referred to as the Clean Energy Businesses); and ?", + "Con Edison Transmission, Inc. , which through its subsidiaries invests in electric and gas transmission projects (Con Edison Transmission, Inc. , together with its subsidiaries referred to as Con Edison Transmission).", + "Con Edison anticipates that the Utilities, which are subject to extensive regulation, will continue to provide substantially all of its earnings over the next few years.", + "The Utilities have approved rate plans that are generally designed to cover each company\u2019s cost of service, including capital and other costs of each company\u2019s energy delivery systems.", + "The Utilities recover from their full-service customers (who purchase energy from them), generally on a current basis, the cost the Utilities pay for energy and charge all of their customers the cost of delivery service.", + "See \"Utility Regulation\" in Item 1, \"Risk Factors\" in Item 1A and \"Rate Plans\" in Note B to the financial statements in Item 8.", + "Selected Financial Data Con Edison", + "||For the Year Ended December 31,|\n|(Millions of Dollars, except per share amounts)|2014|2015|2016|2017|2018|\n|Operating revenues|$12,919|$12,554|$12,075|$12,033|12,337|\n|Energy costs|4,513|3,716|3,088|2,625|2,948|\n|Operating income (h)|2,591|2,879|2,780|2,774|2,664|\n|Net income|1,092|1,193|1,245|1,525(g)|1,382(g)|\n|Total assets (e)(f)|44,071|45,642(a)|48,255(b)|48,111(c)|53,920(d)|\n|Long-term debt (e)|11,546|12,006|14,735|14,731|17,495|\n|Total equity|12,585|13,061|14,306|15,425|16,839|\n|Net Income per common share \u2013 basic|$3.73|$4.07|$4.15|$4.97|$4.43|\n|Net Income per common share \u2013 diluted|$3.71|$4.05|$4.12|$4.94|$4.42|\n|Dividends declared per common share|$2.52|$2.60|$2.68|$2.76|$2.86|\n|Book value per share|$42.97|$44.50|$46.91|$49.72|$52.46|\n|Average common shares outstanding(millions)|293|293|300|307|312|\n", + "(a) Reflects a $2,382 million increase in net plant offset by a $970 million decrease in regulatory assets for unrecognized pension and other postretirement costs.", + "See Notes B, E and F to the financial statements in Item 8.", + "(b) Reflects a $3,007 million increase in net plant offset by a $1,002 million decrease in regulatory assets for unrecognized pension and other postretirement costs.", + "See Notes B, E and F to the financial statements in Item 8.", + "(c) Reflects a $2.384 million increase in net plant, offset by decreases in regulatory assets resulting from the enactment of the federal Tax Cuts and Jobs Act of 2017, as enacted on December 22, 2017 (TCJA) of $2,418 million (including the netting of $1,168 million against the", + "a material effect on its consolidated financial statements.", + "See Note 12 for details regarding a tax matter.", + "NOTE 14 VARIABLE INTEREST ENTITIES In connection with the 2006 sale of approximately 5.6 million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $4.8 billion.", + "The Timber Notes were used as collateral for borrowings from third party lenders, which effectively monetized the Timber Notes through the creation of newly formed special purposes entities (the Entities).", + "The monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales.", + "As of December 31, 2018, this deferred tax liability was $884 million.", + "During 2015, International Paper initiated a series of actions in order to extend the 2006 monetization structure and maintain the long-term nature of the deferred tax liability.", + "The Entities, with assets and liabilities primarily consisting of the Timber Notes and third-party bank loans (the Extension Loans), were restructured which resulted in the formation of wholly\u0002owned, bankruptcy-remote special purpose entities (the 2015 Financing Entities).", + "The Timber Notes are shown in Financial assets of special purpose entities on the accompanying consolidated balance sheet and mature in August 2021 unless extended for an additional five years.", + "These notes, which do not require principal payments prior to their maturity, are supported by approximately $4.8 billion of irrevocable letters of credit.", + "The Extension Loans are shown in Nonrecourse financial liabilities of special purpose entities on the accompanying consolidated balance sheet and mature in the fourth quarter of 2020.", + "These bank loans, totaling approximately $4.2 billion, are nonrecourse to the Company, and are secured by approximately $4.8 billion of Timber Notes, the irrevocable letters of credit supporting the Timber Notes and approximately $150 million of International Paper debt obligations.", + "The $150 million of International Paper debt obligations are eliminated in the consolidation of the 2015 Financing Entities and are not reflected in the Company\u2019s consolidated balance sheet.", + "Provisions of loan agreements related to approximately $1.1 billion of the Extension Loans require the bank issuing letters of credit supporting the Timber Notes pledged as collateral to maintain a credit rating at or above a specified threshold.", + "In the event the credit rating of the letter of credit bank is downgraded below the specified threshold, the letters of credit must be replaced within 60 days with letters of credit from a qualifying financial institution.", + "As of December 31, 2018 and 2017, the fair value of the Timber Notes was $4.7 billion and $4.8 billion, respectively, and the fair value of the Extension Loans was $4.2 billion and $4.3 billion for the years ended 2018 and 2017.", + "The Timber Notes and Extension Loans are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.", + "Activity between the Company and the 2015 Financing Entities was as follows:", + "|In millions|2018|2017|2016|\n|Revenue (a)|$95|$95|$95|\n|Expense (a)|128|128|128|\n|Cash receipts (b)|95|95|77|\n|Cash payments (c)|128|128|98|\n", + "(a) The revenue and expense are included in Interest expense, net in the accompanying consolidated statement of operations.", + "(b) The cash receipts are interest received on the Financial assets of special purpose entities.", + "(c) The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities.", + "In connection with the acquisition of Temple-Inland in February 2012, two special purpose entities became wholly-owned subsidiaries of International Paper.", + "The use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 Temple-Inland timberlands sales.", + "As of December 31, 2018, this deferred tax liability was $538 million, which will be settled with the maturity of the notes in 2027.", + "In October 2007, Temple-Inland sold 1.55 million acres of timberland for $2.4 billion.", + "The total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland, which Temple-Inland contributed to two wholly-owned, bankruptcy-remote special purpose entities.", + "The notes are shown in Financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $2.4 billion of irrevocable letters of credit issued by three banks, which are required to maintain minimum credit ratings on their long-term debt.", + "As of December 31, 2018 and 2017, the fair value of the notes was $2.2 billion and $2.3 billion, respectively.", + "These notes are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.", + "In December 2007, Temple-Inland's two wholly-owned special purpose entities borrowed $2.1 billion which is shown in Nonrecourse financial liabilities of special purpose entities.", + "The loans are repayable in 2027 and are secured by the $2.4 billion of notes and the irrevocable letters of credit securing the notes, and are nonrecourse to us.", + "The loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold, the" + ], + "question_id": "simplong-test-120", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the section with lowest amount of Equity, what's the increasing rate of Total Revenue?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (Continued) Corporate Investments", + "||For the fiscal years ended October 31,|\n||2019|2018|2017|\n||Dollars in millions|\n|Net revenue|$507|$543|$553|\n|Loss from operations|$-108|$-91|$-91|\n|Loss from operations as a % of net revenue|-21.3%|-16.8%|-16.5%|\n", + "Fiscal 2019 compared with Fiscal 2018 Corporate Investments net revenue decreased by $36 million, or 6.6% (decreased 4.4% on a constant currency bases), in fiscal 2019 as compared to fiscal 2018.", + "The decrease in Corporate Investments net revenue was due to lower services revenue from the Communications and Media Solutions (\u2018\u2018CMS\u2019\u2019) business and unfavorable currency fluctuations.", + "Corporate Investments loss from operations as a percentage of net revenue increased 4.5 percentage points in fiscal 2019 as compared to fiscal 2018, due primarily to higher R&D expenses from Hewlett Packard Labs and a legal settlement expense in the CMS business, partially offset by a higher gross margin from the CMS business.", + "Fiscal 2018 compared with Fiscal 2017 Corporate Investments net revenue decreased by $10 million, or 1.8% (decreased 4.0% on a constant currency bases), in fiscal 2018 as compared to fiscal 2017.", + "The decrease in Corporate Investments net revenue, was due to lower services revenue from the CMS business.", + "Corporate Investments loss from operations as a percentage of net revenue increased 0.3 percentage points in fiscal 2018 as compared to fiscal 2017, due primarily to the net revenue decline and a lower gross margin partially offset by lower R&D expenses from Hewlett Packard Labs, lower field selling costs and administrative expense from the CMS business.", + "We use cash generated by operations as our primary source of liquidity.", + "We believe that internally generated cash flows will be generally sufficient to support our operating businesses, capital expenditures, product development initiatives, acquisition and disposal activities including legal settlements, restructuring activities, transformation costs, indemnifications, maturing debt, interest payments, income tax payments, in addition to any future investments and any future share repurchases, and future stockholder dividend payments.", + "We expect to supplement this short-term liquidity, if necessary, by accessing the capital markets, issuing commercial paper, and borrowing under credit facilities made available by various domestic and foreign financial institutions.", + "However, our access to capital markets may be constrained and our cost of borrowing may increase under certain business, market and economic conditions.", + "Our liquidity is subject to various risks including the risks identified in the section entitled \u2018\u2018Risk Factors\u2019\u2019 in Item 1A and market risks identified in the section entitled \u2018\u2018Quantitative and Qualitative Disclosures about Market Risk\u2019\u2019 in Item 7A, each of which is incorporated herein by reference.", + "Our cash balances are held in numerous locations throughout the world, with a substantial amount held outside of the U. S. We utilize a variety of planning and financing strategies in an effort to ensure that our worldwide cash is available when and where it is needed.", + "Our cash position is strong and we expect that our cash balances, anticipated cash flow generated from operations and access to capital markets will be sufficient to cover our expected near-term cash outlays.", + "CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS \u2013 A summary of our borrowings and known or estimated contractual obligations as of April 30, 2018, and the timing and effect that such commitments are expected to have on our liquidity and capital requirements in future periods is as follows:", + "||Total|Less Than1 Year|1 - 3 Years|4 - 5 Years|After 5 Years|\n|Long-term debt (including future interest payments)|$1,841,887|$72,688|$781,969|$591,292|$395,938|\n|Contingent acquisition payments|12,060|6,979|5,081|\u2014|\u2014|\n|Capital lease obligations|5,628|1,026|2,197|2,405|\u2014|\n|Operating leases|820,905|230,163|401,809|155,120|33,813|\n|One-time transition tax liability|17,721|2,448|4,053|3,795|7,425|\n|Guaranty on Refund Advance loans|1,571|1,571|\u2014|\u2014|\u2014|\n|Total contractual cash obligations|$2,699,772|$314,875|$1,195,109|$752,612|$437,176|\n", + "The table above does not reflect unrecognized tax benefits of approximately $186 million due to the high degree of uncertainty regarding the future cash flows associated with these amounts.", + "In connection with our agreement with BofI, we are required to purchase a 90% participation interest, at par, in all EAs originated by our lending partner.", + "During fiscal year 2018, we decided to permanently close approximately 400 tax offices after this year's tax season and, as a result, wrote off $7.4 million in related leasehold improvements, furniture and signage.", + "In conjunction with these office closures, we expect to incur $15 million to $20 million of expense in fiscal year 2019 as we exit the related operating leases.", + "See discussion of contractual obligations and commitments in Item 8, within the notes to the consolidated financial statements.", + "REGULATORY ENVIRONMENT \u2013 The federal government, various state, local, provincial and foreign governments, and some self-regulatory organizations have enacted statutes and ordinances, or adopted rules and regulations, regulating aspects of our business.", + "These aspects include, but are not limited to, commercial income tax return preparers, income tax courses, the electronic filing of income tax returns, the offering of RTs, privacy, consumer protection, franchising, sales methods and banking.", + "We determine the applicability of such statutes, ordinances, rules and regulations (collectively, Laws) and work to comply with those Laws that are applicable to us or our services or products.", + "On November 17, 2017, the CFPB officially published the Payday Rule.", + "Certain limited provisions of the Payday Rule became effective on January 16, 2018, but most provisions do not become effective until August 19, 2019.", + "However, on January 16, 2018, the CFPB stated its intention to engage in a rulemaking process so that the CFPB may reconsider the Payday Rule, and industry groups have filed lawsuits challenging the rule.", + "Given these developments, we are unsure whether, and in what form, the Payday Rule will go into effect.", + "Depending on the outcome of the rulemaking process and litigation, which may include the Payday Rule becoming effective in its current form, the Payday Rule may have a material adverse impact on the EA product, our business, and our consolidated financial position, results of operations, and cash flows.", + "We will continue to analyze the potential impact on the Company as the CFPB\u2019s rulemaking process progresses.", + "On October 5, 2016, the CFPB released the Prepaid Card Rule.", + "The Prepaid Card Rule was scheduled to take effect on April 1, 2018, with certain provisions phased in over time following that date.", + "However, on January 25, 2018, the CFPB amended the Prepaid Card Rule and extended the general effective date until April 1, 2019.", + "Once effective, the Prepaid Card Rule will apply to the Emerald Card.", + "The Prepaid Card Rule, among other things: (i) requires consumer disclosures to be made prior to acquiring a prepaid account; (ii) requires periodic statements or online access to specified account information; and (iii) requires online posting of the Cardholder Agreement and submission of new and revised Cardholder Agreements to the CFPB.", + "We do not expect that the Prepaid Card Rule will have a material adverse effect on our business or our consolidated financial position, results of operations, and cash flows.", + "From time to time in the ordinary course of business, we receive inquiries from governmental and self-regulatory agencies regarding the applicability of Laws to our services and products.", + "In response to past inquiries, we have", + "Table 70: Credit Card and Other Consumer Loan Classes Asset Quality Indicators", + "||Credit Card (a)|Other Consumer (b)|\n|Dollars in millions|Amount|% of Total Loans Using FICO Credit Metric|Amount|% of Total Loans Using FICO Credit Metric|\n| December 31, 2012|||||\n|FICO score greater than 719|$2,247|52%|$7,006|60%|\n|650 to 719|1,169|27|2,896|25|\n|620 to 649|188|5|459|4|\n|Less than 620|271|6|602|5|\n|No FICO score available or required (c)|428|10|741|6|\n|Total loans using FICO credit metric|4,303|100%|11,704|100%|\n|Consumer loans using other internal credit metrics (b)|||9,747||\n|Total loan balance|$4,303||$21,451||\n|Weighted-average updated FICO score (d)||726||739|\n|December 31, 2011|||||\n|FICO score greater than 719|$2,016|51%|$5,556|61%|\n|650 to 719|1,100|28|2,125|23|\n|620 to 649|184|5|370|4|\n|Less than 620|284|7|548|6|\n|No FICO score available or required (c)|392|9|574|6|\n|Total loans using FICO credit metric|3,976|100%|9,173|100%|\n|Consumer loans using other internal credit metrics (b)|||9,993||\n|Total loan balance|$3,976||$19,166||\n|Weighted-average updated FICO score (d)||723||739|\n", + "(a) At December 31, 2012, we had $36 million of credit card loans that are higher risk (i. e. , loans with both updated FICO scores less than 660 and in late stage (90+ days) delinquency status).", + "The majority of the December 31, 2012 balance related to higher risk credit card loans is geographically distributed throughout the following areas: Ohio 18%, Pennsylvania 14%, Michigan 12%, Illinois 8%, Indiana 6%, Florida 6%, New Jersey 5%, Kentucky 4%, and North Carolina 4%.", + "All other states, none of which comprise more than 3%, make up the remainder of the balance.", + "At December 31, 2011, we had $49 million of credit card loans that are higher risk.", + "The majority of the December 31, 2011 balance related to higher risk credit card loans is geographically distributed throughout the following areas: Ohio 20%, Michigan 14%, Pennsylvania 13%, Illinois 7%, Indiana 7%, Florida 6% and Kentucky 5%.", + "All other states, none of which comprise more than 4%, make up the remainder of the balance.", + "(b) Other consumer loans for which updated FICO scores are used as an asset quality indicator include nongovernment guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans.", + "Other consumer loans (or leases) for which other internal credit metrics are used as an asset quality indicator include primarily government guaranteed or insured education loans, as well as consumer loans to high net worth individuals and pools of auto loans (and leases) financed for PNC clients via securitization facilities.", + "Other internal credit metrics may include delinquency status, geography, loan to value, asset concentrations, loss coverage multiples, net loss rates or other factors as well as servicer quality reviews associated with the securitizations or other factors.", + "(c) Credit card loans and other consumer loans with no FICO score available or required refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO (e. g. , recent profile changes), cards issued with a business name, and/or cards secured by collateral.", + "Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes actions to mitigate the credit risk.", + "(d) Weighted-average updated FICO score excludes accounts with no FICO score available or required.", + "DEVON ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) Debt maturities as of December 31, 2013, excluding premiums and discounts, are as follows (in millions):", + "|2014|$4,067|\n|2015|\u2014|\n|2016|500|\n|2017|750|\n|2018|125|\n|2019 and thereafter|6,600|\n|Total|$12,042|\n", + "Credit Lines Devon has a $3.0 billion syndicated, unsecured revolving line of credit (the \u201cSenior Credit Facility\u201d) that matures on October 24, 2018.", + "However, prior to the maturity date, Devon has the option to extend the maturity for up to one additional one-year period, subject to the approval of the lenders.", + "Amounts borrowed under the Senior Credit Facility may, at the election of Devon, bear interest at various fixed rate options for periods of up to twelve months.", + "Such rates are generally less than the prime rate.", + "However, Devon may elect to borrow at the prime rate.", + "The Senior Credit Facility currently provides for an annual facility fee of $3.8 million that is payable quarterly in arrears.", + "As of December 31, 2013, there were no borrowings under the Senior Credit Facility.", + "The Senior Credit Facility contains only one material financial covenant.", + "This covenant requires Devon\u2019s ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65 percent.", + "The credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements.", + "Also, total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments.", + "As of December 31, 2013, Devon was in compliance with this covenant with a debt-to\u0002capitalization ratio of 25.7 percent.", + "Commercial Paper Devon has access to $3.0 billion of short-term credit under its commercial paper program.", + "Commercial paper debt generally has a maturity of between 1 and 90 days, although it can have a maturity of up to 365 days, and bears interest at rates agreed to at the time of the borrowing.", + "The interest rate is generally based on a standard index such as the Federal Funds Rate, LIBOR, or the money market rate as found in the commercial paper market.", + "As of December 31, 2013, Devon\u2019s weighted average borrowing rate on its commercial paper borrowings was 0.30 percent.", + "Other Debentures and Notes Following are descriptions of the various other debentures and notes outstanding at December 31, 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 $2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately", + "Results of Operations \u2013 Capital Markets The following table presents consolidated financial information for the Capital Markets segment for the years indicated:", + "||Year Ended|\n||September 30, 2007|% Incr. (Decr.)|September 30, 2006|% Incr. (Decr.)|September 30, 2005|\n||($ in 000's)|\n|Revenues:||||||\n|Institutional Sales Commissions:||||||\n|Equity|$ 210,343|-3%|$ 217,840|13%|$ 193,001|\n|Fixed Income|44,454|6%|41,830|-37%|66,431|\n|Underwriting Fees|93,712|11%|84,303|8%|77,900|\n|Mergers & Acquisitions Fees|59,929|34%|44,693|5%|42,576|\n|Private Placement Fees|2,262|-3%|2,334|-56%|5,338|\n|Trading Profits|9,262|-58%|21,876|15%|19,089|\n|Raymond James Tax Credit Funds|35,123|11%|31,710|19%|26,630|\n|Interest|46,772|29%|36,311|74%|20,847|\n|Other|4,641|-29%|6,522|95%|3,339|\n|Total Revenue|506,498|4%|487,419|7%|455,151|\n|Interest Expense|56,841|23%|46,126|133%|19,838|\n|Net Revenues|449,657|2%|441,293|1%|435,313|\n|Non-Interest Expenses||||||\n|Sales Commissions|98,903|2%|96,649|-3%|99,223|\n|Admin & Incentive Comp and Benefit Costs|204,512|2%|200,453|2%|197,170|\n|Communications and Information Processing|32,366|20%|27,084|13%|24,071|\n|Occupancy and Equipment|13,196|9%|12,073|-4%|12,563|\n|Business Development|23,468|6%|22,177|17%|18,995|\n|Clearance and Other|23,054|16%|19,907|38%|14,395|\n|Total Non-Interest Expense|395,499|5%|378,343|3%|366,417|\n|Income Before Taxes and Minority Interest|54,158|-14%|62,950|-9%|68,896|\n|Minority Interest|-14,808||-15,271||-8,437|\n|Pre-tax Earnings|$ 68,966|-12%|$ 78,221|1%|$ 77,333|\n", + "Year ended September 30, 2007 Compared with the Year ended September 30, 2006 \u2013 Capital Markets The Capital Markets segment pre-tax earnings declined 12% despite a 2% increase in net revenues.", + "Commission revenue was down slightly, the net of a decline in equity commissions related to the decline in commissions generated by underwriting transactions, and an increase in fixed income commissions, a result of the increased volatility.", + "Commissions generated by underwriting transactions reached a record $41 million in the prior year and were only $22 million in the current year.", + "The increase in underwriting fees included increases of $3 million at RJA, despite a decline in the number of deals from 97 to 78, and $3 million at RJ Ltd. on 30 deals versus 29 in the prior year.", + "Merger and acquisition fees were up $15 million, reaching an all time record level of $60 million for the year.", + "During fiscal 2007, RJA closed 15 individual merger and acquisition transactions with fees in excess of $1 million.", + "Trading profits were down 58% from the prior year, reflecting a particularly difficult fixed income trading environment during the fourth quarter.", + "As credit issues drove fixed income product values down there was a flight to quality and the firm\u2019s economic hedges (short positions in US Treasuries) contributed additional losses.", + "Meanwhile, there were also increased losses in equity customer facilitations and OTC market making.", + "Raymond James Tax Credit Fund (\u201cRJTCF\u201d) revenues increased 11% as they invested $375 million for institutional investors versus $277 million in the prior year.", + "Interest revenue increased related to higher average fixed income inventory levels.", + "Expenses were generally in line with revenue growth with two exceptions.", + "Communications and information processing increased predominantly due to increased costs associated with market information systems and software development costs.", + "Other expense reflects a shift to the use of electronic and other non-exchange clearing methods and includes transaction related underwriting expenses incurred by RJTCF.", + "Year ended September 30, 2006 Compared with the Year ended September 30, 2005 \u2013 Capital Markets The Capital Markets segment\u2019s revenues and pre-tax profits increased just slightly from the prior year\u2019s record results.", + "Commission revenues in the segment were flat, as a 37% decline in fixed income commissions was offset by the 13% increase in institutional equity commissions, the latter continuing to be fueled by an active new issue market.", + "RJA equity market conditions remained strong, allowing RJA to complete 97 managed or co-managed domestic underwritings, just one short of the record 98 underwritings completed in fiscal 2005. RJ Ltd. completed a record 29 managed or co-managed underwritings, up nine from fiscal 2005.", + "Merger and acquisition fees increased modestly from the prior year's record level, offsetting the decline in private placement fees.", + "Equity Capital Market's most active strategic business units in fiscal 2006 were Energy, Technology, Financial Services and Real Estate.", + "increased taxes, licenses and fees by $25 million.", + "These factors combined to result in a 0.5 point negative impact on the Personal segment\u2019s 2005 underwriting expense ratio.", + "In 2004, the 1.2 increase in the underwriting expense ratio over 2003 reflected the impact of the same investments described above." + ], + "question_id": "simplong-test-121", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the net income per common share for the year 2007?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Comparison of Year Ended December 31, 2006 to Year Ended December 31, 2005 Rental Revenue from Continuing Operations Overall, rental revenue from continuing operations increased from $602.1 million in 2005 to $743.5 million in 2006.", + "The following table reconciles rental revenue from continuing operations by reportable segment to total reported rental revenue from continuing operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Office|$534,369|$443,927|\n|Industrial| 194,670|148,359|\n|Other| 14,509|9,776|\n|Total|$743,548|$602,062|\n", + "Both of our reportable segments that comprise Rental Operations (office and industrial) are within the real estate industry; however, the same economic and industry conditions do not affect each segment in the same manner.", + "The primary causes of the increase in rental revenue from continuing operations, with specific references to a particular segment when applicable, are summarized below: ?", + "In 2006, we acquired 50 new properties and placed 27 development projects in service.", + "These 2006 acquisitions and developments are the primary factor in the overall increase in rental revenue for the year ended 2006 compared to 2005 as they provided incremental revenues of $73.8 million and $9.3 million respectively.", + "These acquisitions totaled $948.4 million on 8.6 million square feet and were 99% leased at December 31, 2006. ?", + "Acquisitions and developments that were placed in service in 2005 provided $15.8 million and $11.2 million, respectively, of incremental revenue in 2006. ?", + "Rental revenue includes lease termination fees.", + "Lease termination fees relate to specific tenants who pay a fee to terminate their lease obligations before the end of the contractual lease term.", + "Lease termination fees increased from $7.3 million in 2005 to $16.1 million in 2006. ?", + "Our in-service occupancy increased from 92.7% at December 31, 2005, to 92.9% at December 31, 2006 and contributed to the remaining increase in rental revenue.", + "Equity in Earnings of Unconsolidated Companies Equity in earnings represents our ownership share of net income from investments in unconsolidated companies.", + "These joint ventures generally own and operate rental properties and develop properties.", + "These earnings increased from $29.5 million in 2005 to $38.0 million in 2006.", + "During 2006, our joint ventures sold 22 non-strategic buildings, with our share of the net gain recorded through equity in earnings totaling $18.8 million.", + "During the second quarter of 2005, one of our ventures sold three buildings, with our share of the net gain recorded through equity in earnings totaling $11.1 million.", + "Rental Expenses and Real Estate Taxes The following table reconciles rental expenses and real estate taxes by reportable segment to our total reported amounts in the statement of operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Rental Expenses:|||\n|Office|$143,567|$119,052|\n|Industrial| 21,991|18,264|\n|Other| 3,519|1,557|\n|Total|$169,077|$138,873|\n|Real Estate Taxes:|||\n|Office|$55,963|$49,936|\n|Industrial| 21,760|17,758|\n|Other| 6,015|5,104|\n|Total|$83,738|$72,798|\n", + "Rental expenses and real estate taxes for 2006 have increased from 2005 by $30.2 million and $10.9 million, respectively, as the result of acquisition and development activity in 2005 and 2006 as well as from an increase in occupancy over the past two years.", + "recognition and account for the continued operations of the property by applying the finance, installment or cost recovery methods, as appropriate, until the full accrual sales criteria are met.", + "Estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales.", + "Gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the Consolidated Statements of Cash Flows.", + "Gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental are classified as gain on sale of Service Operation properties in the Consolidated Statements of Operations.", + "All activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the Consolidated Statements of Cash Flows.", + "Net Income Per Common Share Basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period.", + "Diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to Units not owned by us, by the sum of the weighted average number of common shares outstanding and minority Units outstanding, including any dilutive potential common equivalents for the period.", + "The following table reconciles the components of basic and diluted net income per common share (in thousands):", + "||2007|2006|2005|\n|Basic net income available for common shareholders|$217,692|$145,095|$309,183|\n|Minority interest in earnings of common unitholders|14,399|14,238|29,649|\n|Diluted net income available for common shareholders|$232,091|$159,333|$338,832|\n|Weighted average number of common shares outstanding|139,255|134,883|141,508|\n|Weighted average partnership Units outstanding|9,204|13,186|13,551|\n|Dilutive shares for stock-based compensation plans -1|1,155|1,324|818|\n|Weighted average number of common shares and potential dilutive common equivalents|149,614|149,393|155,877|\n", + "(1) Excludes the effect of outstanding stock options, as well as the Exchangeable Senior Notes (\u201cExchangeable Notes\u201d) issued in 2006, that have an anti-dilutive effect on earnings per share for the periods presented.", + "A joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares.", + "The effect of this option on earnings per share was anti-dilutive for the years ended December 31, 2007, 2006 and 2005.", + "Federal Income Taxes We have elected to be taxed as a real estate investment trust (\u201cREIT\u201d) under the Internal Revenue Code.", + "To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders.", + "Management intends to continue to adhere to these requirements and to maintain our REIT status.", + "As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders.", + "Accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders.", + "We are also generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders.", + "If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.", + "schedule, excluding the leases in properties designated as held-for-sale, at December 31, 2016 (in thousands, except percentage data and number of leases):", + "||Total Consolidated Portfolio|Industrial|Medical Office|Non-reportable|\n|Year ofExpiration|SquareFeet|Ann. RentRevenue*|Number of Leases|SquareFeet|Ann. RentRevenue*|SquareFeet|Ann. Rent Revenue*|SquareFeet|Ann. RentRevenue*|\n|2017|8,215|$32,966|146|8,028|$29,835|171|2,975|16|$156|\n|2018|12,729|57,870|189|12,303|46,975|416|10,781|10|114|\n|2019|13,858|61,293|210|13,525|53,543|319|7,581|14|169|\n|2020|13,014|65,938|172|12,567|56,948|423|8,772|24|218|\n|2021|13,358|61,520|186|13,042|55,293|257|5,732|59|495|\n|2022|12,712|54,950|106|12,350|47,451|330|6,940|32|559|\n|2023|3,557|23,923|62|3,134|16,111|415|7,725|8|87|\n|2024|8,857|41,951|52|8,706|38,816|151|3,135|\u2014|\u2014|\n|2025|8,000|35,392|37|7,788|31,508|212|3,884|\u2014|\u2014|\n|2026|7,363|37,513|52|7,080|31,491|283|6,022|\u2014|\u2014|\n|2027 and Thereafter|14,003|124,434|84|11,156|49,740|2,419|67,753|428|6,941|\n|Total Leased|115,666|$597,750|1,296|109,679|$457,711|5,396|131,300|591|$8,739|\n|Total Portfolio Square Feet|118,945|||112,368||5,672||905||\n|Percent Leased|97.2%|||97.6%||95.1%||65.3%||\n", + "* Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period.", + "Annualized rental revenue excludes additional amounts paid by tenants as reimbursement for operating expenses.", + "Information on current market rents can be difficult to obtain, is highly subjective and is often not directly f comparable between properties.", + "As a result, we believe the increase or decrease in net efffective rent on lease renewals, as previously defined, is the most objective and meaningful relationship between rents on leases expiring in the near-term and current market rents.", + "Acquisition Activity Our decision process in determining whether or not to acquire a target property or portfolio involves several factors, including expected rent growth, multiple yield metrics, property locations and expected demographic growth in each location, current occupancy of the target properties, tenant profile and remaining terms of the in-place leases in the target properties.", + "We pursue both brokered and non-brokered acquisitions, and it is dif W ficult to predict which f markets and product types may present acquisition opportunities that align with our strategy.", + "Because of the numerous factors considered in our acquisition decisions, we do not establish specific target yields for future acquisitions.", + "Due to increased market prices and lower acquisition yields for the class and quality of assets that meet our investment criteria, we have shifted our near term focus from acquisitions to new development activities.", + "In addition to the 14 properties acquired from the Quantico Joint VVenture, we also acquired three other properties for a total of 17 properties during the year ended December 31, 2016 and two properties during the year ended December 31, 2015.", + "The following table summarizes the acquisition price, percent leased at time of acquisition and in-place yields by product type for these acquisitions (in thousands, except percentage data):" + ], + "question_id": "simplong-test-122", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average value of Interest rate swaps, Interest rate floors, Interest rate caps for Amount in 2007? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MetLife, Inc. Notes to Consolidated Financial Statements \u2014 (Continued) $4.3 billion, of which $1.6 billion is deductible for income tax purposes.", + "Further information on goodwill is described in Note 6.", + "See Note 5 for the VOBA acquired as part of the acquisition and Note 7 for the value of distribution agreements (\u201cVODA\u201d) and the value of customer relationships acquired (\u201cVOCRA\u201d).", + "As part of the integration of Travelers\u2019 operations, management approved and initiated plans to reduce approximately 1,000 domestic and international Travelers positions, which was completed in December 2006.", + "MetLife initially recorded restructuring costs, including severance, relocation and outplacement services of Travelers\u2019 employees, as liabilities assumed in the purchase business combination of $49 million.", + "For the years ended December 31, 2006 and 2005, the liability for restructuring costs was reduced by $4 million and $1 million, respectively, due to a reduction in the estimate of severance benefits to be paid to Travelers employees.", + "The restructuring costs associated with the Travelers acquisition were as follows:", + "||Years Ended December 31,|\n||2006|2005|\n||(In millions)|\n|Balance at January 1,|$28|$\u2014|\n|Acquisition|\u2014|49|\n|Cash payments|-24|-20|\n|Other reductions|-4|-1|\n|Balance at December 31,|$\u2014|$28|\n", + "Other Acquisitions and Dispositions On June 28, 2007, the Company acquired the remaining 50% interest in a joint venture in Hong Kong, MetLife Fubon Limited (\u201cMetLife Fubon\u201d), for $56 million in cash, resulting in MetLife Fubon becoming a consolidated subsidiary of the Company.", + "The transaction was treated as a step acquisition, and at June 30, 2007, total assets and liabilities of MetLife Fubon of $839 million and $735 million, respectively, were included in the Company\u2019s consolidated balance sheet.", + "The Company\u2019s investment for the initial 50% interest in MetLife Fubon was $48 million.", + "The Company used the equity method of accounting for such investment in MetLife Fubon.", + "The Company\u2019s share of the joint venture\u2019s results for the six months ended June 30, 2007, was a loss of $3 million.", + "The fair value of the assets acquired and the liabilities assumed in the step acquisition at June 30, 2007, was $427 million and $371 million, respectively.", + "No additional goodwill was recorded as a part of the step acquisition.", + "As a result of this acquisition, additional VOBA and VODA of $45 million and $5 million, respectively, were recorded and both have a weighted average amortization period of 16 years.", + "Further information on VOBA and VODA is described in Note 5 and Note 7, respectively.", + "On June 1, 2007, the Company completed the sale of its Bermuda insurance subsidiary, MetLife International Insurance, Ltd. (\u201cMLII\u201d), to a third party for $33 million in cash consideration, resulting in a gain upon disposal of $3 million, net of income tax.", + "The net assets of MLII at disposal were $27 million.", + "A liability of $1 million was recorded with respect to a guarantee provided in connection with this disposition.", + "Further information on guarantees is described in Note 16.", + "On September 1, 2005, the Company completed the acquisition of CitiStreet Associates, a division of CitiStreet LLC, which is primarily involved in the distribution of annuity products and retirement plans to the education, healthcare, and not-for-profit markets, for $56 million, of which $2 million was allocated to goodwill and $54 million to other identifiable intangibles, specifically the value of customer relationships acquired, which have a weighted average amortization period of 16 years.", + "CitiStreet Associates was integrated with MetLife Resources, a focused distribution channel of MetLife, which is dedicated to provide retirement plans and financial services to the same markets.", + "Further information on goodwill and VOCRA is described in Note 6 and Note 7, respectively.", + "See Note 23 for information on the disposition of the annuities and pension businesses of MetLife Insurance Limited (\u201cMetLife Australia\u201d), P. T. Sejahtera (\u201cMetLife Indonesia\u201d) and SSRM Holdings, Inc. (\u201cSSRM\u201d).", + "See Note 25 for information on the Company\u2019s acquisitions subsequent to December 31, 2007.", + "investment income attributable to higher yields was primarily due to higher returns on fixed maturity securities, other limited partnership interests excluding hedge funds, equity securities and improved securities lending results, partially offset by lower returns on real estate joint ventures, cash, cash equivalents and short-term investments, hedge funds and mortgage loans.", + "Management anticipates that investment income and the related yields on other limited partnership interests may decline during 2008 due to increased volatility in the equity and credit markets during 2007.", + "Interest Margin Interest margin, which represents the difference between interest earned and interest credited to policyholder account balances increased in the Institutional and Individual segments for the year ended December 31, 2007 as compared to the prior year.", + "Interest earned approximates net investment income on investable assets attributed to the segment with minor adjustments related to the consolidation of certain separate accounts and other minor non-policyholder elements.", + "Interest credited is the amount attributed to insurance products, recorded in policyholder benefits and claims, and the amount credited to policyholder account balances for investment-type products, recorded in interest credited to policyholder account balances.", + "Interest credited on insurance products reflects the current year impact of the interest rate assumptions established at issuance or acquisition.", + "Interest credited to policyholder account balances is subject to contractual terms, including some minimum guarantees.", + "This tends to move gradually over time to reflect market interest rate movements and may reflect actions by management to respond to competitive pressures and, therefore, generally does not introduce volatility in expense.", + "Net Investment Gains (Losses) Net investment losses decreased by $644 million to a loss of $738 million for the year ended December 31, 2007 from a loss of $1,382 million for the comparable 2006 period.", + "The decrease in net investment losses was primarily due to a reduction of losses on fixed maturity securities resulting principally from the 2006 portfolio repositioning in a rising interest rate environment, increased gains from asset-based foreign currency transactions due to a decline in the U. S. dollar year over year against several major currencies and increased gains on equity securities, partially offset by increased losses from the mark-to-market on derivatives and reduced gains on real estate and real estate joint ventures.", + "Underwriting Underwriting results are generally the difference between the portion of premium and fee income intended to cover mortality, morbidity or other insurance costs, less claims incurred, and the change in insurance-related liabilities.", + "Underwriting results are significantly influenced by mortality, morbidity or other insurance-related experience trends, as well as the reinsurance activity related to certain blocks of business.", + "Consequently, results can fluctuate from period to period.", + "Underwriting results, excluding catastrophes, in the Auto & Home segment were less favorable for the year ended December 31, 2007, as the combined ratio, excluding catastrophes, increased to 86.3% from 82.8% for the year ended December 31, 2006.", + "Underwriting results were favorable in the non-medical health & other, group life and retirement & savings businesses in the Institutional segment.", + "Underwriting results were unfavorable in the life products in the Individual segment.", + "Other Expenses Other expenses increased by $890 million, or 8%, to $11,673 million for the year ended December 31, 2007 from $10,783 million for the comparable 2006 period.", + "The following table provides the change from the prior year in other expenses by segment:", + "|||% of Total|\n||$ Change (In millions)|$ Change|\n|Individual|$512|57%|\n|International|219|25|\n|Institutional|124|14|\n|Corporate & Other|51|6|\n|Auto & Home|-15|-2|\n|Reinsurance|-1|\u2014|\n|Total change|$890|100%|\n", + "The Individual segment contributed to the year over year increase in other expenses primarily due to higher DAC amortization, higher expenses associated with business growth, information technology and other general expenses, the impact of revisions to certain liabilities, including pension and postretirement liabilities and policyholder liabilities in the prior year, and a write-off of a receivable in the current year.", + "The International segment contributed to the year over year increase in other expenses primarily due to the business growth commensurate with the increase in revenues discussed above.", + "It was driven by the following factors: ?", + "Argentina\u2019s other expenses increased primarily due to a liability for servicing obligations that was established as a result of pension reform, an increase in commissions on bancassurance business, an increase in retention incentives related to pension reform, and the impact of management\u2019s update of DAC assumptions as a result of pension reform and growth, partially offset by a lower increase in liabilities due to inflation and exchange rate indexing. ?", + "South Korea\u2019s other expenses increased primarily due to the favorable impact in DAC amortization associated with the implemen\u0002tation of a more refined reserve valuation system in the prior year, additional expenses associated with growth and infrastructure initiatives, as well as business growth and higher bank insurance fees, partially offset by a decrease in DAC amortization. ?", + "Mexico\u2019s other expenses increased due to higher expenses related to business growth and the favorable impact in the prior year of liabilities that were reduced, offset by a decrease in DAC amortization resulting from management\u2019s update of assumptions used to determine estimated gross profits in both the current and prior years and a decrease in liabilities based on a review of outstanding remittances.", + "The following table provides the change in income from continuing operations by segment, excluding Travelers, and certain transactions as mentioned above:", + "|||% of Total|\n||$ Change (In millions)|$ Change|\n|Institutional|$-319|-140%|\n|Individual|-68|-30|\n|International|-33|-15|\n|Corporate & Other|-25|-11|\n|Auto & Home|192|85|\n|Reinsurance|26|11|\n|Total change, net of income tax|$-227|-100%|\n", + "The Institutional segment\u2019s income from continuing operations decreased primarily due to an increase in net investment losses, a decline in interest margins, an increase in operating expenses, which included a charge associated with costs related to the sale of certain small market recordkeeping businesses, a charge associated with non-deferrable LTC commissions expense and a charge associated with costs related to a previously announced regulatory settlement, partially offset by the impact of integration costs in the prior year and favorable underwriting results.", + "The Individual segment\u2019s income from continuing operations decreased as a result of an increase in net investment losses, a decline in interest margins, higher expenses and annuity benefits, as well as increases in interest credited to policyholder account balances and policyholder dividends.", + "These decreases were partially offset by increased fee income related to the growth in separate account products, favorable underwriting results in life products, lower DAC amortization and a decrease in the closed block-related policyholder dividend obligation.", + "Income from continuing operations in Corporate & Other decreased primarily due to higher investment losses, higher interest expense on debt, corporate support expenses, interest credited to bankholder deposits and legal-related costs, partially offset by an increase in tax benefits, an increase in net investment income, lower integration costs and an increase in other revenues.", + "The decrease in income from continuing operations in the International segment was primarily attributable to the following factors: ?", + "Taiwan had a decrease due to a loss recognition adjustment and a restructuring charge, partially offset by reserve refinements associated with the implementation of a new valuation system. ?", + "Income from continuing operations decreased in Canada primarily due to the realignment of economic capital in the prior year. ?", + "Income from continuing operations in Mexico decreased primarily due to an increase in amortization of DAC, higher operating expenses, the net impact of an adjustment to the liability for experience refunds on a block of business, a decrease in various one\u0002time other revenue items in both periods, as well as an increase in income tax expense due to a tax benefit realized in the prior year.", + "These decreases in Mexico were partially offset by a decrease in certain policyholder liabilities caused by a decrease in unrealized investment gains on invested assets supporting those liabilities relative to the prior year, a decrease in policyholder benefits associated with a large group policy that was not renewed by the policyholder, a benefit in the current year from the release of liabilities for pending claims that were determined to be invalid following a review, and the unfavorable impact in the prior year of contingent liabilities. ?", + "In addition, a decrease in Brazil was primarily due to an increase in policyholder benefits and claims related to an increase in future policyholder benefit liabilities on specific blocks of business and an increase in litigation liabilities, as well as adverse claim experience in the current year. ?", + "The home office recorded higher infrastructure expenditures in support of segment growth, as well as a contingent tax liability.", + "This was offset by a reduction in the amount charged for economic capital. ?", + "Results of the Company\u2019s investment in Japan decreased primarily due to variability in the hedging program. ?", + "In addition, expenses related to the Company\u2019s start-up operations in Ireland reduced income from continuing operations.", + "A valuation allowance was established against the deferred tax benefit resulting from the Ireland losses. ?", + "Partially offsetting these decreases in income from continuing operations were increases in Chile and the United Kingdom due to continued growth of the in-force business. ?", + "In addition, an increase occurred in Australia due to reserve strengthening on a block of business in the prior year. ?", + "South Korea\u2019s income from continuing operations increased due to growth in the in-force business and the implementation of a more refined reserve valuation system. ?", + "Argentina\u2019s income from continuing operations increased due to higher net investment income resulting from capital contributions, the release of liabilities for pending claims that were determined to be invalid following a review, the favorable impact of foreign currency exchange rates and inflation rates on certain contingent liabilities, the utilization of net operating losses for which a valuation allowance had been previously established, and an increase in the prior year period of a deferred income tax valuation allowance, as well as business growth.", + "Changes in foreign currency exchange rates also contributed to the increase.", + "Partially offsetting the decreases in income from continuing operations was an increase in the Auto & Home segment primarily due to a loss in the third quarter of 2005 related to Hurricane Katrina, favorable development of prior year loss reserves, improvement in non\u0002catastrophe loss experience and a reduction in loss adjustment expenses.", + "These increases were partially offset by higher catastrophe losses, excluding Hurricanes Katrina and Wilma, in the current year period, and decreases in net earned premiums, other revenues, and net investment income, as well as an increase in other expenses.", + "Income from continuing operations in the Reinsurance segment increased primarily due to added business in-force from facultative and automatic treaties and renewal premiums on existing blocks of business in the U. S. and international operations, an increase in net investment income due to growth in the invested asset base and an increase in other revenues.", + "These items were partially offset by unfavorable mortality experience, an increase in liabilities associated with Reinsurance Group of America, Incorporated\u2019s (\u201cRGA\u201d) Argentine", + "The following table presents the notional amount and current market or fair value of derivative financial instruments held at:", + "|| December 31, 2007| December 31, 2006|\n|| Notional | Current Market or Fair Value| Notional | Current Market or Fair Value|\n|| Amount| Assets| Liabilities| Amount| Assets| Liabilities|\n|| (In millions)|\n|Interest rate swaps|$62,519|$785|$768|$27,148|$639|$150|\n|Interest rate floors|48,937|621|\u2014|37,437|279|\u2014|\n|Interest rate caps|45,498|50|\u2014|26,468|125|\u2014|\n|Financial futures|10,817|89|57|8,432|64|39|\n|Foreign currency swaps|21,399|1,480|1,724|19,627|986|1,174|\n|Foreign currency forwards|4,185|76|16|2,934|31|27|\n|Options|2,043|713|1|587|306|8|\n|Financial forwards|4,600|122|2|3,800|12|40|\n|Credit default swaps|6,850|58|35|6,357|5|21|\n|Synthetic GICs|3,670|\u2014|\u2014|3,739|\u2014|\u2014|\n|Other|250|43|\u2014|250|56|\u2014|\n|Total|$210,768|$4,037|$2,603|$136,779|$2,503|$1,459|\n", + "The above table does not include notional amounts for equity futures, equity variance swaps, and equity options.", + "At December 31, 2007 and 2006, the Company owned 4,658 and 2,749 equity futures, respectively.", + "Fair values of equity futures are included in financial futures in the preceding table.", + "At December 31, 2007 and 2006, the Company owned 695,485 and 225,000 equity variance swaps, respectively.", + "Fair values of equity variance swaps are included in financial forwards in the preceding table.", + "At December 31, 2007 and 2006, the Company owned 77,374,937 and 74,864,483 equity options, respectively.", + "Fair values of equity options are included in options in the preceding table.", + "Credit Risk.", + "The Company may be exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments.", + "Generally, the current credit exposure of the Company\u2019s derivative contracts is limited to the fair value at the reporting date.", + "The credit exposure of the Company\u2019s derivative transactions is represented by the fair value of contracts with a net positive fair value at the reporting date.", + "The Company manages its credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counter\u0002parties, maintaining collateral arrangements and through the use of master agreements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination.", + "Because exchange traded futures are effected through regulated exchanges, and positions are marked to market on a daily basis, the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to such derivative instruments.", + "The Company enters into various collateral arrangements, which require both the pledging and accepting of collateral in connection with its derivative instruments.", + "As of December 31, 2007 and 2006, the Company was obligated to return cash collateral under its control of $833 million and $428 million, respectively.", + "This unrestricted cash collateral is included in cash and cash equivalents and the obligation to return it is included in payables for collateral under securities loaned and other transactions in the consolidated balance sheets.", + "As of December 31, 2007 and 2006, the Company had also accepted collateral consisting of various securities with a fair market value of $678 million and $453 million, respectively, which are held in separate custodial accounts.", + "The Company is permitted by contract to sell or repledge this collateral, but as of December 31, 2007 and 2006, none of the collateral had been sold or repledged.", + "As of December 31, 2007 and 2006, the Company provided collateral of $162 million and $80 million, respectively, which is included in fixed maturity securities in the consolidated balance sheets.", + "In addition, the Company has exchange traded futures, which require the pledging of collateral.", + "As of December 31, 2007 and 2006, the Company pledged collateral of $167 million and $105 million, respectively, which is included in fixed maturity securities.", + "The counterparties are permitted by contract to sell or repledge this collateral.", + "Additionally, in October 2013, our board of directors declared a quarterly cash dividend of $0.40 per share of class A common stock (determined in the case of class B and C common stock, on an as-converted basis) payable on December 3, 2013, to holders of record as of November 15, 2013 of our class A, B and C common stock.", + "Subject to legally available funds, we expect to continue paying quarterly cash dividends on our outstanding class A, B and C common stock in the future.", + "However, the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors, including, but not limited to, our financial condition, settlement indemnifications, operating results, available cash and current and anticipated cash needs.", + "Issuer Purchases of Equity Securities The table below sets forth the information with respect to purchases of the Company\u2019s common stock made by or on behalf of the Company during the quarter ended September 30, 2013." + ], + "question_id": "simplong-test-123", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Land of December 31, 2016, and Interest expense, net of Year Ended December 31, 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 6.", + "SELECTED FINANCIAL DATA The following selected financial data is qualified by reference to, and should be read in conjunction with, the Consolidated Financial Statements, including the notes thereto, and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d included elsewhere in this Form 10-K.", + "||Year Ended December 31,|\n|(In thousands, except per share amounts)|2016|2015|2014|2013|2012|\n|Net revenues|$4,825,335|$3,963,313|$3,084,370|$2,332,051|$1,834,921|\n|Cost of goods sold|2,584,724|2,057,766|1,572,164|1,195,381|955,624|\n|Gross profit|2,240,611|1,905,547|1,512,206|1,136,670|879,297|\n|Selling, general and administrative expenses|1,823,140|1,497,000|1,158,251|871,572|670,602|\n|Income from operations|417,471|408,547|353,955|265,098|208,695|\n|Interest expense, net|-26,434|-14,628|-5,335|-2,933|-5,183|\n|Other expense, net|-2,755|-7,234|-6,410|-1,172|-73|\n|Income before income taxes|388,282|386,685|342,210|260,993|203,439|\n|Provision for income taxes|131,303|154,112|134,168|98,663|74,661|\n|Net income|256,979|232,573|208,042|162,330|128,778|\n|Adjustment payment to Class C|59,000|\u2014|\u2014|\u2014|\u2014|\n|Net income available to all stockholders|$197,979|$232,573|$208,042|$162,330|$128,778|\n|Net income available per common share||||||\n|Basic net income per share of Class A and B common stock|$0.45|$0.54|$0.49|$0.39|$0.31|\n|Basic net income per share of Class C common stock|$0.72|$0.54|$0.49|$0.39|$0.31|\n|Diluted net income per share of Class A and B common stock|$0.45|$0.53|$0.47|$0.38|$0.30|\n|Diluted net income per share of Class C common stock|$0.71|$0.53|$0.47|$0.38|$0.30|\n|Weighted average common shares outstanding Class A and B common stock|\n|Basic|217,707|215,498|213,227|210,696|208,686|\n|Diluted|221,944|220,868|219,380|215,958|212,760|\n|Weighted average common shares outstanding Class C common stock|\n|Basic|218,623|215,498|213,227|210,696|208,686|\n|Diluted|222,904|220,868|219,380|215,958|212,760|\n|Dividends declared|$59,000|$\u2014|$\u2014|$\u2014|$\u2014|\n", + "Our net revenues for the full year 2016 were $4,825.3 million, which reflects a revision from the $4,828.2 million reported in our earnings release, filed January 31, 2017, on Form 8-K.", + "This revision reflects a $2.9 million adjustment related to a return credit for footwear that was identified in connection with the closing of our January 2017 books and records, following the earnings release.", + "As a result,", + "other items on our Consolidated Financial Statements have been appropriately adjusted from the amounts provided in the earnings release, including a reduction of our full year 2016 gross profit and income from operations by $2.9 million, and a reduction of net income by $1.7 million.", + "||At December 31,|\n|(In thousands)|2016|2015|2014|2013|2012|\n|Cash and cash equivalents|$250,470|$129,852|$593,175|$347,489|$341,841|\n|Working capital -1|1,279,337|1,019,953|1,127,772|702,181|651,370|\n|Inventories|917,491|783,031|536,714|469,006|319,286|\n|Total assets|3,644,331|2,865,970|2,092,428|1,576,369|1,155,052|\n|Total debt, including current maturities|817,388|666,070|281,546|151,551|59,858|\n|Total stockholders\u2019 equity|$2,030,900|$1,668,222|$1,350,300|$1,053,354|$816,922|\n", + "(1) Working capital is defined as current assets minus current liabilities.", + "In March 2016, the FASB issued ASU 2016-09, which effects all entities that issue share-based payment awards to their employees.", + "The amendments in this ASU cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows.", + "This ASU is effective for annual and interim periods beginning after December 15, 2016.", + "This guidance can be applied either prospectively, retrospectively or using a modified retrospective transition method.", + "Early adoption is permitted.", + "The Company will not early adopt this ASU.", + "The adoption of this guidance may have a material impact on the Company\u2019s effective tax rate and income tax expense, depending in part on whether significant employee stock option exercises occur.", + "In August 2016, the FASB issued ASU 2016-15, which eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues.", + "This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.", + "The Company does not believe this ASU will have a material impact on its consolidated financial statements.", + "In October 2016, the FASB issued ASU 2016-16, which will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs.", + "This ASU is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted in the first interim period of 2017.", + "Upon adoption, any deferred charge established upon an intra-company transfer would be recorded as a cumulative-effect adjustment to retained earnings.", + "At December 31, 2016, the Company had a deferred charge of $26.0 million with $1.8 million and $24.2 million recorded within Prepaid expenses and Other long term assets, respectively.", + "The Company plans to adopt this ASU during the interim period ending March 31, 2017.", + "Recently Adopted Accounting Standards In April 2015, the FASB issued ASU 2015-03, which requires costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt.", + "This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, with early adoption permitted.", + "The Company adopted the provisions of this ASU in the first quarter of 2016, and reclassified approximately $2.9 million from \u201cOther long term assets\u201d to \u201cLong term debt, net of current maturities\u201d as of December 31, 2015.3.", + "Property and Equipment, Net Property and equipment consisted of the following:", + "||December 31,|\n|(In thousands)|2016|2015|\n|Leasehold and tenant improvements|$326,617|$214,834|\n|Furniture, fixtures and displays|168,720|132,736|\n|Buildings|47,216|47,137|\n|Software|151,059|99,309|\n|Office equipment|75,196|50,399|\n|Plant equipment|124,140|118,138|\n|Land|83,574|17,628|\n|Construction in progress|204,362|147,581|\n|Other|20,383|4,002|\n|Subtotal property and equipment|1,201,267|831,764|\n|Accumulated depreciation|-397,056|-293,233|\n|Property and equipment, net|$804,211|$538,531|\n" + ], + "question_id": "simplong-test-124", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Cash provided by operating activities of 2013, Reserve for unearned premiums of 2017 As Reported, and Future policy benefits for life and accident and health insurance contracts of 2017 As Reported ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Private equity fund investments included above are not redeemable, because distributions from the funds will be received when underlying investments of the funds are liquidated.", + "Private equity funds are generally expected to have 10-year lives at their inception, but these lives may be extended at the fund manager\u2019s discretion, typically in one or two-year increments.", + "At December 31, 2018, assuming average original expected lives of 10 years for the funds, 14 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 43 percent between four and six years and 43 percent between seven and 10 years.", + "The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (35 percent), quarterly (32 percent), semi-annually (9 percent) and annually (24 percent), with redemption notices ranging from one day to 180 days.", + "At December 31, 2018, investments representing approximately 51 percent of the total fair value of these hedge fund investments had partial contractual redemption restrictions.", + "These partial redemption restrictions are generally related to one or more investments held in the hedge funds that the fund manager deemed to be illiquid.", + "The majority of these contractual restrictions, which may have been put in place at the fund\u2019s inception or thereafter, have pre-defined end dates.", + "The majority of these restrictions are generally expected to be lifted by the end of 2019.", + "FAIR VALUE OPTION Under the fair value option, we may elect to measure at fair value financial assets and financial liabilities that are not otherwise required to be carried at fair value.", + "Subsequent changes in fair value for designated items are reported in earnings.", + "We elect the fair value option for certain hybrid securities given the complexity of bifurcating the economic components associated with the embedded derivatives.", + "For additional information related to embedded derivatives refer to Note 11 herein.", + "Additionally, we elect the fair value option for certain alternative investments when such investments are eligible for this election.", + "We believe this measurement basis is consistent with the applicable accounting guidance used by the respective investment company funds themselves.", + "For additional information on securities and other invested assets for which we have elected the fair value option refer to Note 6 herein.", + "The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option:", + "| Years Ended December 31,|Gain (Loss)|\n|(in millions)|2018|2017|2016|\n| Assets:||||\n|Bond and equity securities|$343|$1,646|$447|\n|Alternative investments(a)|213|509|28|\n|Other, including Short-term investments|-|1|-|\n| Liabilities:||||\n|Long-term debt(b)|-1|-49|-9|\n|Other liabilities|-|-2|-|\n| Total gain|$555|$2,105|$466|\n", + "(a) Includes certain hedge funds, private equity funds and other investment partnerships.", + "(b) Includes GIAs, notes, bonds and mortgages payable.", + "Interest income and dividend income on assets measured under the fair value option are recognized and included in Net investment income in the Consolidated Statements of Income with the exception of activity within AIG\u2019s Other Operations category, which is included in Other income.", + "Interest expense on liabilities measured under the fair value option is reported in Other Income in the Consolidated Statements of Income.", + "For additional information about our policies for recognition, measurement, and disclosure of interest and dividend income see Note 6 herein.", + "8.", + "Reinsurance In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses.", + "In addition, our general insurance subsidiaries assume reinsurance from other insurance companies.", + "We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased.", + "This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR.", + "Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid.", + "Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized.", + "We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk.", + "The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment.", + "The allowance for doubtful accounts on reinsurance assets was $140 million and $187 million at December 31, 2018 and 2017, respectively.", + "Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.", + "The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:", + "| At December 31,|2018 As Reported||2017 As Reported||\n|(in millions)|Net of Reinsurance|Net of Reinsurance|\n|Liability for unpaid losses and loss adjustment expenses|$-83,639|$-51,949|$-78,393|$-51,685|\n|Future policy benefits for life and accident and health insurance contracts|-44,935|-43,936|-45,432|-44,457|\n|Reserve for unearned premiums|-19,248|-16,300|-19,030|-15,890|\n|Reinsurance assets(a)|35,637||30,823||\n", + "(a) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.", + "SHORT-DURATION REINSURANCE Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks.", + "Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts.", + "Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received.", + "Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsurers.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the reinsurance contracts and the portion of premiums relating to the unexpired terms of coverage is included in the reserve for unearned premiums.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsureds.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "For both ceded and assumed reinsurance, risk transfer requirements must be met for reinsurance accounting to apply.", + "If risk transfer requirements are not met, the contract is accounted for as a deposit, resulting in the recognition of cash flows under the contract through a deposit asset or liability and not as revenue or expense.", + "To meet risk transfer requirements, a reinsurance contract must include both insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity.", + "Similar risk transfer criteria are used to determine whether directly written insurance contracts should be accounted for as insurance or as a deposit.", + "The following table presents the weighted average assumptions used to determine the net periodic benefit costs:", + "||Pension|Postretirement||\n| |U.S. Plans|Non-U.S. Plans *|U.S. Plans|Non-U.S. Plans*||\n| For the Year Ended December 31, 2018||||||\n|Discount rate|3.61%|1.60%|3.53%| 3.59| %|\n|Rate of compensation increase|N/A|2.27%|N/A| 3.00| %|\n|Expected return on assets|6.75%|2.78%|N/A| N/A| |\n| For the Year Ended December 31, 2017||||||\n|Discount rate|4.15%|1.50%|4.01%|3.95%||\n|Rate of compensation increase|N/A|2.50%|N/A|3.38%||\n|Expected return on assets|7.00%|2.92%|N/A|N/A||\n| For the Year Ended December 31, 2016||||||\n|Discount rate|4.33%|2.17%|4.21%|4.09%||\n|Rate of compensation increase|N/A%|2.64%|N/A|3.43%||\n|Expected return on assets|7.00%|3.28%|N/A|N/A||\n", + "* The non-U.", + "S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits.", + "Discount Rate Methodology The projected benefit cash flows under the U. S. AIG Retirement Plan were discounted using the spot rates derived from the Mercer U. S. Pension Discount Yield Curve at December 31, 2018 and 2017, which resulted in a single discount rate that would produce the same liability at the respective measurement dates.", + "The discount rates were 4.22 percent at December 31, 2018 and 3.61 percent at December 31, 2017.", + "The methodology was consistently applied for the respective years in determining the discount rates for the other U. S. pension plans.", + "In general, the discount rates for the non-U.", + "S. plans were developed using a similar methodology to the U. S. AIG Retirement plan, by using country-specific Mercer Yield Curves.", + "The projected benefit obligation for AIG\u2019s Japan pension plans represents approximately 52 percent and 50 percent of the total projected benefit obligations for our non-U.", + "S. pension plans at December 31, 2018 and 2017, respectively.", + "The weighted average discount rate of 0.72 percent and 0.66 percent at December 31, 2018 and 2017, respectively, was selected by reference to the Mercer Yield Curve for Japan.", + "Plan Assets The investment strategy with respect to assets relating to our U. S. and non-U.", + "S. pension plans is designed to achieve investment returns that will provide for the benefit obligations of the plans over the long term, limit the risk of short-term funding shortfalls and maintain liquidity sufficient to address cash needs.", + "Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including, but not limited to, volatility relative to the benefit obligations, liquidity, diversification and concentration, and incorporates the risk/return profile applicable to each asset class.", + "There were no shares of AIG Common Stock included in the U. S. and non-U.", + "S. pension plans assets at December 31, 2018 or 2017.", + "Financial Assurance We must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs, and related to our performance under certain collection, landfill and transfer station contracts.", + "We satisfy these financial assurance requirements by providing surety bonds, letters of credit, or insurance policies (Financial Assurance Instruments), or trust deposits, which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets.", + "The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations.", + "The financial assurance requirements for capping, closure and post-closure costs may be associated with a portion of the landfill or the entire landfill.", + "Generally, states require a third-party engineering specialist to determine the estimated capping, closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill.", + "The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U. S. GAAP.", + "The amount of the financial assurance requirements related to contract performance varies by contract.", + "Additionally, we must provide financial assurance for our insurance program and collateral for certain performance obligations.", + "We do not expect a material increase in financial assurance requirements during 2016, although the mix of Financial Assurance Instruments may change.", + "These Financial Assurance Instruments are issued in the normal course of business and are not considered indebtedness.", + "Because we currently have no liability for the Financial Assurance Instruments, they are not reflected in our consolidated balance sheets; however, we record capping, closure and post-closure liabilities and insurance liabilities as they are incurred.", + "Off-Balance Sheet Arrangements We have no off-balance sheet debt or similar obligations, other than operating leases and financial assurances, which are not classified as debt.", + "We have no transactions or obligations with related parties that are not disclosed, consolidated into or reflected in our reported financial position or results of operations.", + "We have not guaranteed any third-party debt.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with U. S. GAAP, as 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.", + "The following table calculates our free cash flow for the years ended December 31, 2015, 2014 and 2013 (in millions of dollars):", + "||2015|2014|2013|\n|Cash provided by operating activities|$1,679.7|$1,529.8|$1,548.2|\n|Purchases of property and equipment|-945.6|-862.5|-880.8|\n|Proceeds from sales of property and equipment|21.2|35.7|23.9|\n|Free cash flow|$755.3|$703.0|$691.3|\n", + "For a discussion of the changes in the components of free cash flow, see our discussion regarding Cash Flows Provided By Operating Activities and Cash Flows Used In Investing Activities contained elsewhere in this Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations." + ], + "question_id": "simplong-test-125", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If China develops with the same growth rate in 2013, what will it reach in 2014? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) 102 Employee Stock Purchase Plans Under the ESPP, substantially all employees may purchase Applied common stock through payroll deductions at a price equal to 85 percent of the lower of the fair market value of Applied common stock at the beginning or end of each 6-month purchase period, subject to certain limits.", + "Based on the Black-Scholes option pricing model, the weighted average estimated fair value of purchase rights under the ESPP was $3.08 per share for the year ended October 27, 2013, $2.73 per share for the year ended October 28, 2012 and $3.03 per share for the year ended October 30, 2011.", + "The number of shares issued under the ESPP during fiscal 2013, 2012 and 2011 was 7 million, 7 million and 6 million, respectively.", + "At October 27, 2013, there were 40 million available for future issuance under the ESPP.", + "Compensation expense is calculated using the fair value of the employees\u2019 purchase rights under the Black-Scholes model.", + "Underlying assumptions used in the model for fiscal 2013, 2012 and 2011 are outlined in the following table:", + "||2013|2012|2011|\n|ESPP:||||\n|Dividend yield|2.80%|3.01%|2.53%|\n|Expected volatility|24.8%|29.6%|31.1%|\n|Risk-free interest rate|0.09%|0.13%|0.09%|\n|Expected life (in years)|0.5|0.5|0.5|\n", + "Note 13 Employee Benefit Plans Employee Bonus Plans Applied has various employee bonus plans.", + "A discretionary bonus plan provides for the distribution of a percentage of pre\u0002tax income to Applied employees who are not participants in other performance-based incentive plans, up to a maximum percentage of eligible compensation.", + "Other plans provide for bonuses to Applied\u2019s executives and other key contributors based on the achievement of profitability and/or other specified performance criteria.", + "Charges under these plans were $269 million for fiscal 2013, $271 million for fiscal 2012, and $319 million charges for fiscal 2011.", + "Employee Savings and Retirement Plan Applied\u2019s Employee Savings and Retirement Plan (the 401(k) Plan) is qualified under Sections 401(a) and (k) of the Internal Revenue Code (the Code).", + "Effective as of the close of the stock market on December 31, 2012, the Varian-sponsored 401(k) plan was merged with and into the 401(k) Plan, with the 401(k) Plan being the surviving plan.", + "Eligible employees may make salary deferral and catch-up contributions under the 401(k) Plan on a pre-tax basis and/or (effective as of the first payroll period beginning on or after December 22, 2012) on a Roth basis, subject to an annual dollar limit established by the Code.", + "Applied matches 100% of participant salary and/or Roth deferral contributions up to the first 3% of eligible contribution and then 50% of every dollar between 4% and 6% of eligible contribution.", + "Applied does not make matching contributions on any catch-up contributions made by participants.", + "Plan participants who were employed by Applied or any of its affiliates on or after January 1, 2010 became 100% vested in their Applied matching contribution account balances.", + "Applied\u2019s matching contributions under the 401(k) Plan were approximately $29 million, net of $1 million in forfeitures for fiscal 2013, $37 million for fiscal 2012 and $27 million for fiscal 2011.", + "PART I Item 1: Business Incorporated in 1967, Applied, a Delaware corporation, provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.", + "Applied\u2019s customers include manufacturers of semiconductor wafers and chips, flat panel liquid crystal and other displays, solar PV cells and modules, and other electronic devices.", + "These customers may use what they manufacture in their own end products or sell the items to other companies for use in advanced electronic components.", + "Applied\u2019s fiscal year ends on the last Sunday in October.", + "Applied operates in four reportable segments: Silicon Systems Group, Applied Global Services, Display, and Energy and Environmental Solutions.", + "Applied manages its business based upon these segments.", + "A summary of financial information for each reportable segment is found in Note 16 of Notes to Consolidated Financial Statements.", + "A discussion of factors that could affect operations is set forth under \u201cRisk Factors\u201d in Item 1A, which is incorporated herein by reference.", + "Net sales by reportable segment for the past three fiscal years were as follows:", + "||2014|2013|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$5,978|66%|$4,775|64%|$5,536|64%|\n|Applied Global Services|2,200|24%|2,023|27%|2,285|26%|\n|Display|615|7%|538|7%|473|5%|\n|Energy and Environmental Solutions|279|3%|173|2%|425|5%|\n|Total|$9,072|100%|$7,509|100%|$8,719|100%|\n", + "Silicon Systems Group Segment The Silicon Systems Group segment develops, manufactures and sells manufacturing equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs).", + "Most chips are built on a silicon wafer base and include a variety of circuit components, such as transistors and other devices, that are connected by multiple layers of wiring (interconnects).", + "Applied offers systems that perform various processes used in chip fabrication, including chemical vapor deposition (CVD), physical vapor deposition (PVD), etch, electrochemical deposition (ECD), rapid thermal processing (RTP), ion implantation, chemical mechanical planarization (CMP), epitaxy (Epi), wet cleaning, atomic layer deposition (ALD), wafer metrology and inspection, and systems that etch or inspect circuit patterns on masks used in the photolithography process.", + "Applied\u2019s semiconductor manufacturing systems are used by integrated device manufacturers and foundries to build and package memory, logic and other types of chips.", + "The majority of the Company's new equipment sales are for leading-edge technology for advanced 2X nanometer (nm) nodes and smaller dimensions.", + "To build a chip, the transistors, capacitors and other circuit components are first created on the surface of the wafer by performing a series of processes to deposit and selectively remove portions of successive film layers.", + "Similar processes are then used to build the layers of wiring structures on the wafer.", + "As the density of the circuit components increases to enable greater computing capability in the same or smaller physical area, the complexity of building the chip also increases, necessitating more process steps to form smaller transistor structures and more intricate wiring schemes.", + "Advanced chip designs require more than 500 steps involving these and other processes to complete the manufacturing cycle.", + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The following table summarizes information with respect to options outstanding and exercisable at October 26, 2014:", + "||Options Outstanding|Options Exercisable|\n|Range ofExercise Prices|Number ofShares (In millions)|WeightedAverageExercisePrice|WeightedAverageRemainingContractualLife (In years)|AggregateIntrinsicValue (In millions)|Number ofShares (In millions)|WeightedAverageExercisePrice|AggregateIntrinsicValue (In millions)|\n|$3.36 \u2014 $9.99|1|$5.31|1.81|$12|1|$5.30|$12|\n|$10.00 \u2014 $15.06|1|$14.96|5.59|7|\u2014|$14.71|2|\n||2|$10.87|3.99|$19|1|$7.97|$14|\n|Options exercisable and expected to become exercisable|2|$10.87|3.99|$19||||\n", + "Option prices at the lower end of the range were principally attributable to stock options assumed in connection with the Varian acquisition in fiscal year 2012.", + "Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units Restricted stock units are converted into shares of Applied common stock upon vesting on a one-for-one basis.", + "Restricted stock has the same rights as other issued and outstanding shares of Applied common stock except these shares generally have no right to dividends and are held in escrow until the award vests.", + "Performance shares and performance units are awards that result in a payment to a grantee, generally in shares of Applied common stock on a one-for-one basis if performance goals and/or other vesting criteria established by the Human Resources and Compensation Committee of Applied's Board of Directors (the Committee) are achieved or the awards otherwise vest.", + "Restricted stock units, restricted stock, performance shares and performance units typically vest over four years and vesting is usually subject to the grantee\u2019s continued service with Applied and, in some cases, achievement of specified performance goals.", + "The compensation expense related to the service-based awards is determined using the fair market value of Applied common stock on the date of the grant, and the compensation expense is recognized over the vesting period.", + "Restricted stock, performance shares and performance units granted to certain executive officers are subject to the achievement of specified performance goals (performance-based awards).", + "These performance-based awards become eligible to vest only if performance goals are achieved and then actually will vest only if the grantee remains employed by Applied through each applicable vesting date.", + "These performance-based awards require the achievement of targeted levels of adjusted annual operating profit margin.", + "For the fiscal 2013 performance-based awards, additional shares become eligible for time-based vesting if Applied achieves certain levels of total shareholder return (TSR) relative to a peer group, comprised of companies in the Standard & Poor's 500 Information Technology Index, measured at the end of a two-year period.", + "The fair value of these performance-based awards is estimated on the date of grant and assumes that the specified performance goals will be achieved.", + "If the goals are achieved, these awards vest over a specified remaining service period of generally three or four years, provided that the grantee remains employed by Applied through each scheduled vesting date.", + "If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed.", + "The expected cost of each award is reflected over the service period and is reduced for estimated forfeitures.", + "Fiscal 2012 was characterized by significant fluctuations in demand for semiconductor equipment, coupled with an extremely weak market environment for display and solar equipment.", + "Applied completed its acquisition of Varian Semiconductor Equipment Associates, Inc. (Varian) in the first quarter of fiscal 2012.", + "Mobility was the greatest influence on semiconductor industry spending in fiscal 2012.", + "Investment levels for display equipment were low in fiscal 2012 due to decreased capacity requirements for larger flat panel televisions, while demand for mobility products, such as smartphones and tablets, significantly influenced equipment spending.", + "In the solar industry, fiscal 2012 was characterized by excess manufacturing capacity, which led to significantly reduced demand for crystalline-silicon (c-Si) equipment, as well as weak operating performance and outlook.", + "New Orders New orders by reportable segment for the past three fiscal years were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$6,132|64%|11%|$5,507|65%|4%|$5,294|66%|\n|Applied Global Services|2,433|25%|16%|2,090|25%|-8%|2,274|28%|\n|Display|845|9%|20%|703|8%|157%|274|4%|\n|Energy and Environmental Solutions|238|2%|43%|166|2%|-15%|195|2%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "New orders increased in fiscal 2014 from fiscal 2013 across all segments, primarily due to higher demand for semiconductor equipment, semiconductor spares and services, and display equipment.", + "New orders for the Silicon Systems Group and Applied Global Services continued to comprise a majority of Applied's consolidated total new orders.", + "New orders for fiscal 2013 increased compared to fiscal 2012, primarily due to a recovery in demand for display manufacturing equipment and increased demand in semiconductor equipment, partially offset by lower demand for service products, as well as depressed demand for c-Si solar equipment due to excess manufacturing capacity in the solar industry.", + "New orders by geographic region, determined by the product shipment destination specified by the customer, were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Taiwan|$2,740|28%|-5%|$2,885|34%|34%|$2,155|27%|\n|China|1,517|16%|13%|1,339|16%|232%|403|5%|\n|Korea|1,086|11%|19%|915|11%|-49%|1,784|22%|\n|Japan|1,031|11%|25%|822|10%|37%|600|7%|\n|Southeast Asia|412|4%|17%|351|4%|24%|283|4%|\n|Asia Pacific|6,786|70%|8%|6,312|75%|21%|5,225|65%|\n|United States|2,200|23%|55%|1,419|17%|-29%|1,995|25%|\n|Europe|662|7%|-10%|735|8%|-10%|817|10%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "The changes in new orders from customers in the United States, Japan, Taiwan and Korea for fiscal 2014 compared to fiscal 2013 primarily reflected changes in customers mix in the Silicon Systems Group, while the increase in new orders from China resulted from increased demand from display manufacturing equipment.", + "The recovery in demand for display manufacturing equipment in fiscal 2013 led to the increase in new orders from customers in China.", + "The change in the composition of new orders from customers in Taiwan, Korea, Japan and the United States was primarily related to changes in customer demand for semiconductor equipment.", + "New Term Loan A Facility, with the remaining unpaid principal amount of loans under the New Term Loan A Facility due and payable in full at maturity on June 6, 2021.", + "Principal amounts outstanding under the New Revolving Loan Facility are due and payable in full at maturity on June 6, 2021, subject to earlier repayment pursuant to the springing maturity date described above.", + "In addition to paying interest on outstanding principal under the borrowings, we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio, with a maximum commitment fee of 40% of the applicable margin for Eurocurrency loans.", + "In July 2016, Breakaway Four, Ltd. , as borrower, and NCLC, as guarantor, entered into a Supplemental Agreement, which amended the Breakaway four loan to, among other things, increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from \u20ac590.5 million to \u20ac729.9 million.", + "In June 2016, we took delivery of Seven Seas Explorer.", + "To finance the payment due upon delivery, we had export credit financing in place for 80% of the contract price.", + "The associated $373.6 million term loan bears interest at 3.43% with a maturity date of June 30, 2028.", + "Principal and interest payments shall be paid semiannually.", + "In December 2016, NCLC issued $700.0 million aggregate principal amount of 4.750% senior unsecured notes due December 2021 (the \u00a1\u00b0Notes\u00a1\u00b1) in a private offering (the \u00a1\u00b0Offering\u00a1\u00b1) at par.", + "NCLC used the net proceeds from the Offering, after deducting the initial purchasers\u00a1\u00af discount and estimated fees and expenses, together with cash on hand, to purchase its outstanding 5.25% senior notes due 2019 having an aggregate outstanding principal amount of $680 million.", + "The redemption of the 5.25% senior notes due 2019 was completed in January 2017.", + "NCLC will pay interest on the Notes at 4.750% per annum, semiannually on June 15 and December 15 of each year, commencing on June 15, 2017, to holders of record at the close of business on the immediately preceding June 1 and December 1, respectively.", + "NCLC may redeem the Notes, in whole or part, at any time prior to December 15, 2018, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date and a \u00a1\u00b0make-whole premium.", + "\u00a1\u00b1 NCLC may redeem the Notes, in whole or in part, on or after December 15, 2018, at the redemption prices set forth in the indenture governing the Notes.", + "At any time (which may be more than once) on or prior to December 15, 2018, NCLC may choose to redeem up to 40% of the aggregate principal amount of the Notes at a redemption price equal to 104.750% of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings, so long as at least 60% of the aggregate principal amount of the Notes issued remains outstanding following such redemption.", + "The indenture governing the Notes contains covenants that limit NCLC\u00a1\u00afs ability (and its restricted subsidiaries\u00a1\u00af ability) to, among other things: (i) incur or guarantee additional indebtedness or issue certain preferred shares; (ii) pay dividends and make certain other restricted payments; (iii) create restrictions on the payment of dividends or other distributions to NCLC from its restricted subsidiaries; (iv) create liens on certain assets to secure debt; (v) make certain investments; (vi) engage in transactions with affiliates; (vii) engage in sales of assets and subsidiary stock; and (viii) transfer all or substantially all of its assets or enter into merger or consolidation transactions.", + "The indenture governing the Notes also provides for events of default, which, if any of them occurs, would permit or require the principal, premium (if any), interest and other monetary obligations on all of the then-outstanding Notes to become due and payable immediately.", + "Interest expense, net for the year ended December 31, 2016 was $276.9 million which included $34.7 million of amortization of deferred financing fees and a $27.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2015 was $221.9 million which included $36.7 million of amortization of deferred financing fees and a $12.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2014 was $151.8 million which included $32.3 million of amortization of deferred financing fees and $15.4 million of expenses related to financing transactions in connection with the Acquisition of Prestige.", + "Certain of our debt agreements contain covenants that, among other things, require us to maintain a minimum level of liquidity, as well as limit our net funded debt-to-capital ratio, maintain certain other ratios and restrict our ability to pay dividends.", + "Substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt.", + "We believe we were in compliance with these covenants as of December 31, 2016.", + "The following are scheduled principal repayments on long-term debt including capital lease obligations as of December 31, 2016 for each of the next five years (in thousands):" + ], + "question_id": "simplong-test-126", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what percentage of employees are subject to collective bargaining agreements?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "R. ONEOK PARTNERS General Partner Interest - See Note B for discussion of the April 2006 acquisition of the additional general partner interest in ONEOK Partners.", + "The limited partner units we received from ONEOK Partners were newly created Class B limited partner units.", + "As of April 7, 2007, the Class B limited partner units are no longer subordinated to distributions on ONEOK Partners\u2019 common units and generally have the same voting rights as the common units and are entitled to receive increased quarterly distributions and distributions on liquidation equal to 110 percent of the distributions paid with respect to the common units.", + "On June 21, 2007, we, as the sole holder of ONEOK Partners Class B limited partner units, waived our right to receive the increased quarterly distributions on the Class B units for the period April 7, 2007, through December 31, 2007, and continuing thereafter until we give ONEOK Partners no less than 90 days advance notice that we have withdrawn our waiver.", + "Any such withdrawal of the waiver will be effective with respect to any distribution on the Class B units declared or paid on or after 90 days following delivery of the notice.", + "Under the ONEOK Partners\u2019 partnership agreement and in conjunction with the issuance of additional common units by ONEOK Partners, we, as the general partner, are required to make equity contributions in order to maintain our representative general partner interest.", + "Our investment in ONEOK Partners is shown in the table below for the periods presented.", + "||December 31, 2007|December 31, 2006|December 31, 2005|\n|General partner interest|2.00%|2.00%|1.65%|\n|Limited partner interest|43.70% (a)|43.70% (a)|1.05% (b)|\n|Total ownership interest|45.70%|45.70%|2.70%|\n", + "(a) - Represents approximately 0.5 million common units and 36.5 million Class B units.", + "(b) - Represents approximately 0.5 million common units.", + "Cash Distributions - Under the ONEOK Partners\u2019 partnership agreement, distributions are made to the partners with respect to each calendar quarter in an amount equal to 100 percent of available cash.", + "Available cash generally consists of all cash receipts adjusted for cash disbursements and net changes to cash reserves.", + "Available cash will generally be distributed 98 percent to limited partners and 2 percent to the general partner.", + "As an incentive, the general partner\u2019s percentage interest in quarterly distributions is increased after certain specified target levels are met.", + "Under the incentive distribution provisions, the general partner receives: ?15 percent of amounts distributed in excess of $0.605 per unit, ?25 percent of amounts distributed in excess of $0.715 per unit, and ?50 percent of amounts distributed in excess of $0.935 per unit.", + "ONEOK Partners\u2019 income is allocated to the general and limited partners in accordance with their respective partnership ownership percentages.", + "The effect of any incremental income allocations for incentive distributions that are allocated to the general partner is calculated after the income allocation for the general partner\u2019s partnership interest and before the income allocation to the limited partners.", + "The following table shows ONEOK Partners\u2019 general partner and incentive distributions related to the periods indicated.", + "|| Years Ended December 31,|\n|| 2007| 2006| 2005|\n||(Thousands of dollars)|\n|General partner distributions|$7,842|$6,228|$2,632|\n|Incentive distributions|50,627|31,102|6,568|\n|Total distributions from ONEOK Partners|$58,469|$37,330|$9,200|\n", + "The quarterly distributions paid by ONEOK Partners to limited partners in the first, second, third and fourth quarters of 2007 were $0.98 per unit, $0.99 per unit, $1.00 per unit, and $1.01 per unit, respectively.", + "gas.", + "The use of these derivative instruments and the associated recovery of these costs have been approved by the OCC, KCC and regulatory authorities in certain of our Texas jurisdictions.", + "ONEOK entered into forward-starting interest-rate swaps designated as cash flow hedges of the variability of interest payments on a portion of forecasted debt issuances that may result from changes in the benchmark interest rate before the debt is issued.", + "ONEOK had interest-rate swaps with notional values totaling $500 million at December 31, 2011.", + "In January 2012, ONEOK entered into additional interest-rate swaps with notional amounts totaling $200 million.", + "Upon issuance in January 2012 of our $700 million, 4.25-percent senior notes due 2022, ONEOK settled all $700 million of its interest-rate swaps and realized a loss of $44.1 million in accumulated other comprehensive income (loss) that will be amortized to interest expense over the term of the related debt.", + "ONEOK Partners entered into forward-starting interest-rate swaps designated as cash flow hedges of the variability of interest payments on a portion of forecasted debt issuances that may result from changes in the benchmark interest rate before the debt is issued.", + "At December 31, 2011, ONEOK Partners had interest-rate swaps with notional values totaling $750 million.", + "During the year ended December 31, 2012, ONEOK Partners entered into additional interest-rate swaps with notional amounts totaling $650 million.", + "Upon ONEOK Partners\u2019 debt issuance in September 2012, ONEOK Partners settled $1 billion of its interest-rate swaps and realized a loss of $124.9 million in accumulated other comprehensive income (loss) that will be amortized to interest expense over the term of the related debt.", + "At December 31, 2012, ONEOK Partners\u2019 remaining interest-rate swaps with notional amounts totaling $400 million have settlement dates greater than 12 months.", + "Fair Values of Derivative Instruments - The following table sets forth the fair values of our derivative instruments for our continuing and discontinued operations for the periods indicated:", + "||December 31, 2012 Fair Values of Derivatives (a)|December 31, 2011 Fair Values of Derivatives (a)|\n||Assets|(Liabilities)|Assets|(Liabilities)|\n||(Thousands of dollars)|\n|Derivatives designated as hedging instruments|||||\n|Commodity contracts|||||\n|Financial contracts|$47,516(b)|$-4,885|$184,184(c)|$-73,346|\n|Physical contracts|56|-126|62|-344|\n|Interest-rate contracts|10,923|\u2014|\u2014|-128,666|\n|Total derivatives designated as hedging instruments|58,495|-5,011|184,246|-202,356|\n|Derivatives not designated as hedging instruments|||||\n|Commodity contracts|||||\n|Nontrading instruments|||||\n|Financial contracts|24,970|-25,009|295,948|-323,170|\n|Physical contracts|4,059|-153|38,733|-1,665|\n|Trading instruments|||||\n|Financial contracts|15,358|-14,192|111,920|-110,050|\n|Total derivatives not designated as hedging instruments|44,387|-39,354|446,601|-434,885|\n|Total derivatives|$102,882|$-44,365|$630,847|$-637,241|\n", + "(a) - Included on a net basis in energy marketing and risk-management assets and liabilities, other assets and other deferred credits on our Consolidated Balance Sheets.", + "(b) - Includes $16.9 million of derivative net assets and ineffectiveness associated with cash flow hedges of inventory related to certain financial contracts that were used to hedge forecasted purchases and sales of natural gas.", + "The deferred gains associated with these assets have been reclassified from accumulated other comprehensive income (loss).", + "(c) - Includes $88.9 million of derivative assets associated with cash flow hedges of inventory that were adjusted to reflect the lower of cost or market value.", + "The deferred gains associated with these assets have been reclassified from accumulated other comprehensive income (loss).", + "guidance to amend or clarify portions of the final rule in 2013.", + "We anticipate that if the EPA issues additional responses, amendments and/or policy guidance on the final rule, it will reduce the anticipated capital, operations and maintenance costs resulting from the regulation.", + "Generally, the NSPS final rule will require expenditures for updated emissions controls, monitoring and record-keeping requirements at affected facilities in the crude-oil and natural gas industry.", + "We do not expect these expenditures will have a material impact on our results of operations, financial position or cash flows.", + "CERCLA - The federal Comprehensive Environmental Response, Compensation and Liability Act, also commonly known as Superfund (CERCLA), imposes strict, joint and several liability, without regard to fault or the legality of the original act, on certain classes of \u201cpersons\u201d (defined under CERCLA) that caused and/or contributed to the release of a hazardous substance into the environment.", + "These persons include but are not limited to the owner or operator of a facility where the release occurred and/or companies that disposed or arranged for the disposal of the hazardous substances found at the facility.", + "Under CERCLA, these persons may be liable for the costs of cleaning up the hazardous substances released into the environment, damages to natural resources and the costs of certain health studies.", + "Neither we nor ONEOK Partners expect our respective responsibilities under CERCLA, for this facility and any other, will have a material impact on our respective results of operations, financial position or cash flows.", + "Chemical Site Security - The United States Department of Homeland Security released an interim rule in April 2007 that requires companies to provide reports on sites where certain chemicals, including many hydrocarbon products, are stored.", + "We completed the Homeland Security assessments, and our facilities subsequently were assigned one of four risk-based tiers ranging from high (Tier 1) to low (Tier 4) risk, or not tiered at all due to low risk.", + "To date, four of our facilities have been given a Tier 4 rating.", + "Facilities receiving a Tier 4 rating are required to complete Site Security Plans and possible physical security enhancements.", + "We do not expect the Site Security Plans and possible security enhancements cost will have a material impact on our results of operations, financial position or cash flows.", + "Pipeline Security - The United States Department of Homeland Security\u2019s Transportation Security Administration and the DOT have completed a review and inspection of our \u201ccritical facilities\u201d and identified no material security issues.", + "Also, the Transportation Security Administration has released new pipeline security guidelines that include broader definitions for the determination of pipeline \u201ccritical facilities.", + "\u201d We have reviewed our pipeline facilities according to the new guideline requirements, and there have been no material changes required to date.", + "Environmental Footprint - Our environmental and climate change strategy focuses on taking steps to minimize the impact of our operations on the environment.", + "These strategies include: (i) developing and maintaining an accurate greenhouse gas emissions inventory according to current rules issued by the EPA; (ii) improving the efficiency of our various pipelines, natural gas processing facilities and natural gas liquids fractionation facilities; (iii) following developing technologies for emission control and the capture of carbon dioxide to keep it from reaching the atmosphere; and (iv) utilizing practices to reduce the loss of methane from our facilities.", + "We participate in the EPA\u2019s Natural Gas STAR Program to voluntarily reduce methane emissions.", + "We continue to focus on maintaining low rates of lost-and-unaccounted-for natural gas through expanded implementation of best practices to limit the release of natural gas during pipeline and facility maintenance and operations.", + "EMPLOYEESWe employed 4,859 people at January 31, 2013, including 705 people at Kansas Gas Service who are subject to collective bargaining agreements.", + "The following table sets forth our contracts with collective bargaining units at January 31, 2013:" + ], + "question_id": "simplong-test-127", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average of the Total operating revenues in the year where Other investment income/(losses) is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Other Liquidity Items Cash payments required for long-term debt maturities, rental payments under noncancellable operating leases, purchase obligations and other commitments in effect at December 31, 2010, are summarized in the following table:", + "||Payments Due By Period(a)|\n|($ in millions)|Total|Less than1 Year|1-3 Years|3-5 Years|More than5 Years|\n|Long-term debt, including capital leases|$2,750.1|$34.5|$188.3|$367.1|$2,160.2|\n|Interest payments on long-term debt(b)|1,267.5|160.5|316.4|304.2|486.4|\n|Operating leases|93.2|31.1|37.1|16.6|8.4|\n|Purchase obligations(c)|6,586.9|2,709.5|3,779.4|98.0|\u2212|\n|Total payments on contractual obligations|$10,697.7|$2,935.6|$4,321.2|$785.9|$2,655.0|\n", + "(a) Amounts reported in local currencies have been translated at the year-end 2010 exchange rates.", + "(b) For variable rate facilities, amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments.", + "(c) The company\u2019s purchase obligations include contracted amounts for aluminum, steel and other direct materials.", + "Also included are commitments for purchases of natural gas and electricity, aerospace and technologies contracts and other less significant items.", + "In cases where variable prices and/or usage are involved, management\u2019s best estimates have been used.", + "Depending on the circumstances, early termination of the contracts may or may not result in penalties and, therefore, actual payments could vary significantly.", + "The table above does not include $60.1 million of uncertain tax positions, the timing of which is uncertain.", + "Contributions to the company\u2019s defined benefit pension plans, not including the unfunded German plans, are expected to be in the range of $30 million in 2011.", + "This estimate may change based on changes in the Pension Protection Act and actual plan asset performance, among other factors.", + "Benefit payments related to these plans are expected to be $71.4 million, $74.0 million, $77.1 million, $80.3 million and $84.9 million for the years ending December 31, 2011 through 2015, respectively, and a total of $483.1 million for the years 2016 through 2020.", + "Payments to participants in the unfunded Other Liquidity Items Cash payments required for long-term debt maturities, rental payments under noncancellable operating leases, purchase obligations and other commitments in effect at December 31, 2010, are summarized in the following table:", + "(a) Amounts reported in local currencies have been translated at the year-end 2010 exchange rates.", + "(b) For variable rate facilities, amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments.", + "(c) The company\u00a1\u00afs purchase obligations include contracted amounts for aluminum, steel and other direct materials.", + "Also included are commitments for purchases of natural gas and electricity, aerospace and technologies contracts and other less significant items.", + "In cases where variable prices and/or usage are involved, management\u00a1\u00afs best estimates have been used.", + "Depending on the circumstances, early termination of the contracts may or may not result in penalties and, therefore, actual payments could vary significantly.", + "The table above does not include $60.1 million of uncertain tax positions, the timing of which is uncertain.", + "Contributions to the company\u00a1\u00afs defined benefit pension plans, not including the unfunded German plans, are expected to be in the range of $30 million in 2011.", + "This estimate may change based on changes in the Pension Protection Act and actual plan asset performance, among other factors.", + "Benefit payments related to these plans are expected to be $71.4 million, $74.0 million, $77.1 million, $80.3 million and $84.9 million for the years ending December 31, 2011 through 2015, respectively, and a total of $483.1 million for the years 2016 through 2020.", + "Payments to participants in the unfunded German plans are expected to be between $21.8 million (\u20ac16.5 million) to $23.2 million (\u20ac17.5 million) in each of the years 2011 through 2015 and a total of $102.7 million (\u20ac77.5 million) for the years 2016 through 2020.", + "For the U. S. pension plans in 2011, we changed our return on asset assumption to 8.00 percent (from 8.25 percent in 2010) and our discount rate assumption to an average of 5.55 percent (from 6.00 percent in 2010).", + "Based on the changes in assumptions, pension expense in 2011 is anticipated to be relatively flat compared to 2010.", + "A reduction of the expected return on pension assets assumption by a quarter of a percentage point would result in an estimated $2.9 million increase in the 2011 global pension expense, while a quarter of a percentage point reduction in the discount rate applied to the pension liability would result in an estimated $3.5 million of additional pension expense in 2011.", + "Additional information regarding the company\u00a1\u00afs pension plans is provided in Note 14 accompanying the consolidated financial statements within Item 8 of this report.", + "Annual cash dividends paid on common stock were 20 cents per share in 2010, 2009 and 2008.", + "Total dividends paid were $35.8 million in 2010, $37.4 million in 2009 and $37.5 million in 2008.", + "On January 26, 2011, the company\u00a1\u00afs board of directors approved an increase in the quarterly dividends to 7 cents per share.", + "Share Repurchases Our share repurchases, net of issuances, totaled $506.7 million in 2010, $5.1 million in 2009 and $299.6 million in 2008.", + "On November 2, 2010, we acquired 2,775,408 shares of our publicly held common stock in a private transaction for $88.8 million.", + "On February 17, 2010, we entered into an accelerated share repurchase agreement to buy $125.0 million of our common shares using cash on hand and available borrowings.", + "We advanced the $125.0 million on February 22, 2010, and received 4,323,598 shares, which represented 90 percent of the total shares as calculated using the previous day\u00a1\u00afs closing price.", + "The agreement was settled on May 20, 2010, and the company received an additional 398,206 shares.", + "Net repurchases in 2008 included a $31 million settlement on January 7, 2008, of a forward contract entered into in December 2007 for the repurchase of 1,350,000 shares.", + "From January 1 through February 24, 2011, Ball repurchased an additional $143.3 million of its common stock.", + "Table of Contents into U. S. Dollars using the spot foreign exchange rate in effect on the exercise date.", + "Upon the exercise of share options, the company either issues new shares or can utilize shares held in treasury (see Note 10, \u201cShare Capital\u201d) to satisfy the exercise.", + "The share option plans provided for a grant price equal to the quoted market price of the company's shares on the date of grant.", + "If the options remain unexercised after a period of 10 years from the date of grant, the options expire.", + "Furthermore, options are forfeited if the employee leaves the company before the options vest.", + "All options outstanding at December 31, 2011were exercisable and had a range of exercise prices from \uffe16.39 to \uffe119.19, and weighted average remaining contractual life of 2.62 years.", + "The total intrinsic value of options exercised during the years ended December 31, 2011, 2010, and 2009, was $9.2 million, $18.5 million, and $20.7 million, respectively.", + "At December 31, 2011, the aggregate intrinsic value of options outstanding and options exercisable was $36.3 million.", + "The market price of the company's common stock at December 31, 2011 was $20.09 (December 31, 2010: $24.06).", + "Changes in outstanding share option awards are as follows:", + "||2011|2010|2009|\n|Millions of shares, except prices|Options|Weighted Average Exercise Price(\u00a3 Sterling)|Options|Weighted Average Exercise Price(\u00a3 Sterling)|Options|Weighted Average Exercise Price(\u00a3 Sterling)|\n|Outstanding at the beginning of year|10.7|13.85|16.4|14.99|23.1|14.06|\n|Forfeited during the year|-5.3|19.70|-3.9|21.90|-2.1|15.15|\n|Exercised during the year|-0.9|8.33|-1.8|6.70|-4.6|10.20|\n|Outstanding at the end of the year|4.5|7.85|10.7|13.85|16.4|14.99|\n|Exercisable at the end of the year|4.5|7.85|10.7|13.85|16.4|14.99|\n", + "13.", + "RETIREMENT BENEFIT PLANS Defined Contribution Plans The company operates defined contribution retirement benefit plans for all qualifying employees.", + "The assets of the plans are held separately from those of the company in funds under the control of trustees.", + "When employees leave the plans prior to vesting fully in the contributions, the contributions payable by the company are reduced by the amount of forfeited contributions.", + "The total amounts charged to the Consolidated Statements of Income for the year ended December 31, 2011, of $53.2 million (December 31, 2010: $47.0 million, 2009: $43.6 million) represent contributions paid or payable to these plans by the company at rates specified in the rules of the plans.", + "As of December 31, 2011, accrued contributions of $20.0 million (December 31, 2010: $18.9 million) for the current year will be paid to the plans.", + "Defined Benefit Plans The company maintains legacy defined benefit pension plans for qualifying employees of its subsidiaries in the U. K. , Ireland, Germany and Taiwan.", + "All defined benefit plans are closed to new participants.", + "The company also maintains a postretirement medical plan in the U. S. , which was closed to new participants in 2005.", + "In 2006, the plan was amended to eliminate benefits for all participants who will not meet retirement eligibility by 2008.", + "The assets of all defined benefit schemes are held in separate trustee-administered funds.", + "Under the plans, the employees are generally entitled to retirement benefits based on final salary at retirement.", + "The most recent actuarial valuations of plan assets and the present value of the defined benefit obligation were valued as of December 31, 2011.", + "The benefit obligation, related current service cost and prior service cost were measured using the projected unit credit method.", + "|$ in millions|Before Consolidation-1|Consolidated Investment Products|Adjustments-1(2)|Total|\n|Year ended December 31, 2010|||||\n|Total operating revenues|3,532.7|0.3|-45.3|3,487.7|\n|Total operating expenses|2,887.8|55.3|-45.3|2,897.8|\n|Operating income|644.9|-55.0|\u2014|589.9|\n|Equity in earnings of unconsolidated affiliates|40.8|\u2014|-0.6|40.2|\n|Interest and dividend income|10.4|246.0|-5.1|251.3|\n|Other investment income/(losses)|15.6|107.6|6.4|129.6|\n|Interest expense|-58.6|-123.7|5.1|-177.2|\n|Income before income taxes|653.1|174.9|5.8|833.8|\n|Income tax provision|-197.0|\u2014|\u2014|-197.0|\n|Net income|456.1|174.9|5.8|636.8|\n|(Gains)/losses attributable to noncontrolling interests in consolidated entities, net|-0.2|-170.8|-0.1|-171.1|\n|Net income attributable to common shareholders|455.9|4.1|5.7|465.7|\n", + "(1) The Before Consolidation column includes Invesco's equity interests in the investment products accounted for as equity method (private equity and real estate partnership funds) and available-for-sale investments (CLOs).", + "Upon consolidation of the CLOs, the company's and the CLOs' accounting policies are effectively aligned, resulting in the reclassification of the company's gain for the year ended December 31, 2011 of $20.3 million (representing the increase in the market value of the company's holding in the consolidated CLOs) from other comprehensive income into other gains/losses (year ended December 31, 2010: $6.4 million).", + "The company's gain on its investment in the CLOs (before consolidation) eliminates with the company's share of the offsetting loss on the CLOs' debt.", + "The net income arising from consolidation of CLOs is therefore completely attributed to other investors in these CLOs, as the company's share has been eliminated through consolidation.", + "The Before Consolidation column does not include any other adjustments related to non-GAAPfinancial measure presentation.", + "(2) Adjustments include the elimination of intercompany transactions between the company and its consolidated investment products, primarily the elimination of management fees expensed by the funds and recorded as operating revenues (before consolidation) by the company.", + "Operating Revenues and Net Revenues The main categories of revenues, and the dollar and percentage change between the periods, are as follows:", + "|$ in millions|2011|2010|$ Change|% Change|\n|Investment management fees|3,138.5|2,720.9|417.6|15.3%|\n|Service and distribution fees|780.3|645.5|134.8|20.9%|\n|Performance fees|37.9|26.1|11.8|45.2%|\n|Other|135.5|95.2|40.3|42.3%|\n|Total operating revenues|4,092.2|3,487.7|604.5|17.3%|\n|Third-party distribution, service and advisory expenses|-1,282.5|-1,053.8|-228.7|21.7%|\n|Proportional share of revenues, net of third-party distribution expenses, from joint venture investments|41.4|42.2|-0.8|-1.9%|\n|Management fees earned from consolidated investment products|46.8|45.3|1.5|3.3%|\n|Performance fees earned from consolidated investment products|0.5|\u2014|0.5|N/A|\n|Other revenues recorded by consolidated investment products|\u2014|-0.3|0.3|-100.0%|\n|Net revenues|2,898.4|2,521.1|377.3|15.0%|\n", + "Operating revenues increased by 17.3% in the year ended December 31, 2011 to $4,092.2 million (year ended December 31, 2010: $3,487.7 million).", + "Net revenues increased by 15.0% in in the year ended December 31, 2011 to $2,898.4 million (year ended December 31, 2010: $2,521.1 million).", + "Net revenues are operating revenues less third-party distribution, service and advisory expenses, plus our proportional share of net revenues from joint venture arrangements, plus management and performance fees", + "Table of Contents both probable and reasonably estimable.", + "We must from time to time make material estimates with respect to legal and other contingencies.", + "The nature of our business requires compliance with various state and federal statutes, as well as various contractual obligations, and exposes us to a variety of legal proceedings and matters in the ordinary course of business.", + "While the outcomes of matters such as these are inherently uncertain and difficult to predict, we maintain reserves reflected in other current and other non-current liabilities, as appropriate, for identified losses that are, in our judgment, probable and reasonably estimable.", + "Management's judgment is based on the advice of legal counsel, ruling on various motions by the applicable court, review of the outcome of similar matters, if applicable, and review of guidance from state or federal agencies, if applicable.", + "Contingent consideration payable in relation to a business acquisition is recorded as of the acquisition date as part of the fair value transferred in exchange for the acquired business.", + "Recent Accounting Standards See Item 8, Financial Statements and Supplementary Data - Note 1, \u201cAccounting Policies - Accounting Pronouncements Recently Adopted and Pending Accounting Pronouncements.", + "\u201d Item 7A.", + "Quantitative and Qualitative Disclosures About Market Risk In the normal course of its business, the company is primarily exposed to market risk in the form of securities market risk, interest rate risk, and foreign exchange rate risk.", + "AUM Market Price Risk The company's investment management revenues are comprised of fees based on a percentage of the value of AUM.", + "Declines in equity or fixed income security market prices could cause revenues to decline because of lower investment management fees by: ?", + "Causing the value of AUM to decrease. ?", + "Causing the returns realized on AUM to decrease (impacting performance fees). ?", + "Causing clients to withdraw funds in favor of investments in markets that they perceive to offer greater opportunity and that the company does not serve. ?", + "Causing clients to rebalance assets away from investments that the company manages into investments that the company does not manage. ?", + "Causing clients to reallocate assets away from products that earn higher revenues into products that earn lower revenues.", + "Underperformance of client accounts relative to competing products could exacerbate these factors.", + "Securities Market Risk The company has investments in sponsored investment products that invest in a variety of asset classes.", + "Investments are generally made to establish a track record or to hedge economically exposure to certain deferred compensation plans.", + "The company's exposure to market risk arises from its investments.", + "The following table summarizes the fair values of the investments exposed to market risk and provides a sensitivity analysis of the estimated fair values of those investments, assuming a 20% increase or decrease in fair values:" + ], + "question_id": "simplong-test-128", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total value of all Net income (loss) that are in the range of 1 and 1100000 in 2015 for As previously reported?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS):", + "|CONSOLIDATED STATEMENTS OF OPERATIONS|Twelve Months Ended December 31, 2015|Twelve Months Ended December 31, 2014|\n|AND COMPREHENSIVE INCOME (LOSS):||Effect of adoption of new accounting policy|||Effect of adoption of new accounting policy||\n||As previously reported|As adopted|As previously reported|As adopted|\n|(Dollars in thousands)|||||||\n|REVENUES:|||||||\n|Premiums earned|$5,481,459|$-188,617|$5,292,842|$5,169,135|$-125,428|$5,043,707|\n|Net investment income|473,825|-352|473,473|530,570|-85|530,485|\n|Other income (expense)|60,435|27,845|88,280|18,437|13,871|32,308|\n|Total revenues|5,837,889|-161,124|5,676,765|5,790,589|-111,642|5,678,947|\n|CLAIMS AND EXPENSES:|||||||\n|Incurred losses and loss adjustment expenses|3,101,915|-37,200|3,064,715|2,906,534|-30,598|2,875,936|\n|Commission, brokerage, taxes and fees|1,202,036|-18,390|1,183,646|1,135,586|-14,441|1,121,145|\n|Other underwriting expenses|265,984|-8,915|257,069|240,400|-7,296|233,104|\n|Total claims and expenses|4,629,380|-64,505|4,564,875|4,344,474|-52,335|4,292,139|\n|INCOME (LOSS) BEFORE TAXES|1,208,509|-96,619|1,111,890|1,446,115|-59,307|1,386,808|\n|NET INCOME (LOSS)|1,074,488|-96,619|977,869|1,258,463|-59,307|1,199,156|\n|Net income (loss) attributable to noncontrolling interests|-96,619|96,619|-|-59,307|59,307|-|\n|NET INCOME (LOSS) ATTRIBUTABLE TO EVEREST RE GROUP|977,869|-977,869|-|1,199,156|-1,199,156|-|\n", + "|CONSOLIDATED STATEMENT OF CASH FLOWS:|Twelve Months Ended December 31, 2015|Twelve Months Ended December 31, 2014|\n|(Dollars in thousands)|As previously reported|Effect of adoption of new accounting policy|As adopted|As previously reported|Effect of adoption of new accounting policy|As adopted|\n|CASH FLOWS FROM OPERATING ACTIVITIES:|||||||\n|Net income (loss)|$1,074,488|$-96,619|$977,869|$1,258,463|$-59,307|$1,199,156|\n|Decrease (increase) in premiums receivable|-93,837|-4,374|-98,211|45,282|3,089|48,371|\n|Decrease (increase) in funds held by reinsureds, net|31,225|-75,000|-43,775|-1,835|-|-1,835|\n|Decrease (increase) in reinsurance receivables|-240,414|-24,689|-265,103|-186,014|-24,634|-210,648|\n|Decrease (increase) in prepaid reinsurance premiums|-14,486|-7,333|-21,819|-79,086|956|-78,130|\n|Increase (decrease) in other net payable to reinsurers|38,262|5,465|43,727|29,410|-1,102|28,308|\n|Change in other assets and liabilities, net|264|-9,198|-8,934|35,419|-178,054|-142,635|\n|Net cash provided by (used in) operating activities|1,308,382|-211,748|1,096,634|1,313,821|-259,059|1,054,762|\n|CASH FLOWS FROM INVESTING ACTIVITIES:|||||||\n|Net change in short-term investments|-98,903|440,636|341,733|-497,983|421,500|-76,483|\n|Net cash provided by (used in) investing activities|-1,121,737|440,636|-681,101|-1,180,072|421,500|-758,572|\n|CASH FLOWS FROM FINANCING ACTIVITIES:|||||||\n|Third party investment in redeemable noncontrolling interest|266,848|-266,848|-|136,200|-136,200|-|\n|Subscription advances for third party redeemable noncontrolling interest|30,000|-30,000|-|40,000|-40,000|-|\n|Dividends paid on third party investment in redeemable noncontrolling interest|-68,158|68,158|-|-10,334|10,334|-|\n|Net cash provided by (used in) financing activities|-332,879|-228,690|-561,569|-312,232|-165,866|-478,098|\n|EFFECT OF EXCHANGE RATE CHANGES ON CASH|-7,582|-198|-7,780|4,575|3,425|8,000|\n", + "CONSOLIDATED STATEMENT OF CASH FLOWS:", + "The following table presents a reconciliation of beginning and ending reserve balances for the periods indicated on a GAAP basis:", + "||Years Ended December 31,|\n|(Dollars in millions)|2016|2015|2014|\n|Gross reserves at beginning of period|$9,951.8|$9,720.8|$9,673.2|\n|Incurred related to:||||\n|Current year|3,434.9|3,129.7|2,915.6|\n|Prior years|-295.3|-65.0|-39.7|\n|Total incurred losses|3,139.6|3,064.7|2,875.9|\n|Paid related to:||||\n|Current year|745.6|690.0|755.9|\n|Prior years|2,043.0|2,180.1|2,088.8|\n|Total paid losses|2,788.6|2,870.1|2,844.7|\n|Foreign exchange/translation adjustment|-99.9|-190.0|-160.7|\n|Change in reinsurance receivables on unpaid losses and LAE|109.4|226.4|176.9|\n|Gross reserves at end of period|$10,312.3|$9,951.8|$9,720.8|\n|(Some amounts may not reconcile due to rounding.)||||\n", + "Incurred prior years\u2019 reserves decreased by $295.3 million, $65.0 million and $39.7 million for the years ended December 31, 2016, 2015 and 2014, respectively.", + "The decrease for 2016 was attributable to favorable development in the reinsurance segments of $468.7 million related primarily to property and short-tail business in the U. S. , property business in Canada, Latin America, Middle East and Africa, as well as favorable development on prior year catastrophe losses, partially offset by $53.9 million of adverse development on A&E reserves.", + "Part of the favorable development in the reinsurance segments related to the 2015 loss from the explosion at the Chinese port of Tianjin.", + "In 2015, this loss was originally estimated to be $60.0 million.", + "At December 31, 2016, this loss was projected to be $16.7 million resulting in $43.3 million of favorable development in 2016.", + "The net favorable development in the reinsurance segments was partially offset by $173.4 million of unfavorable development in the insurance segment primarily related to run-off construction liability and umbrella program business.", + "The decrease for 2015 was attributable to favorable development in the reinsurance segments of $217.2 million related to treaty casualty and treaty property reserves, partially offset by $152.1 million of unfavorable development in the insurance segment primarily related to umbrella program and construction liability business.", + "The decrease for 2014 was attributable to favorable development in the reinsurance segments of $202.4 million related to treaty casualty, treaty property and catastrophe reserves, partially offset by $137.8 million development on A&E reserves and $25.0 million of unfavorable development in the insurance segment primarily related to umbrella program and construction liability business.", + "Since the Company has operations in many countries, part of the Company\u2019s loss and LAE reserves are in foreign currencies and translated to U. S. dollars for each reporting period.", + "Fluctuations in the exchange rates for the currencies, period over period, affect the U. S. dollar amount of outstanding reserves.", + "The translation adjustment line at the bottom of the table eliminates the impact of the exchange fluctuations from the reserve re-estimates.", + "The Company\u2019s loss reserving methodologies continuously monitor the emergence of loss and loss development trends, seeking, on a timely basis, to both adjust reserves for the impact of trend shifts and to factor the impact of such shifts into the Company\u2019s underwriting and pricing on a prospective basis.", + "Reserves for Asbestos and Environmental Losses and LAE.", + "At December 31, 2016, the Company\u2019s gross reserves for A&E claims represented 4.3% of its total reserves.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "Liabilities related to Mt.", + "McKinley\u2019s direct business, which had been ceded to Bermuda Re previously, were retroceded to an affiliate of Clearwater Insurance Company in July 2015, concurrent with the sale of Mt.", + "McKinley to Clearwater Insurance Company.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims and ultimate values cannot be estimated using traditional reserving techniques.", + "See ITEM 7, \u201cManagement\u2019s Discussion", + "Other expense, net increased $0.8 million to $7.2 million in 2015 from $6.4 million in 2014.", + "This increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015.", + "Provision for income taxes increased $19.9 million to $154.1 million in 2015 from $134.2 million in 2014.", + "Our effective tax rate was 39.9% in 2015 compared to 39.2% in 2014.", + "Our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our Connected Fitness acquisitions in 2015.", + "Year Ended December 31, 2014 Compared to Year Ended December 31, 2013 Net revenues increased $752.3 million, or 32.3%, to $3,084.4 million in 2014 from $2,332.1 million in 2013.", + "Net revenues by product category are summarized below:" + ], + "question_id": "simplong-test-129", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what percentage of the aggregate consideration for the greenline acquisition was paid to the sellers in 2009 based on the 2008 earn-out target?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) (in thousands, except share and per share amounts) Had compensation expense for employee stock-based awards been determined based on the fair value at grant date consistent with SFAS No.123(R), the Company\u2019s Net income (loss) for the year would have been increased or decreased to the pro forma amounts indicated below:", + "||Year Ended December 31,|\n|| 2005| 2004|2003|\n|Net income||||\n|As reported|$8,142|$57,587|$4,212|\n|Compensation expense|1,366|1,965|1,646|\n|Pro forma|$6,776|$55,622|$2,566|\n|Basic net income (loss) per common share|$0.29|$6.76|$-2.20|\n|Diluted net income (loss) per common share|$0.23|$1.88|$-2.20|\n|Basic net income (loss) per common share \u2014 pro forma|$0.24|$6.48|$-2.70|\n|Diluted net income (loss) per common share \u2014 pro forma|$0.19|$1.82|$-2.70|\n", + "Basic and diluted earnings per share (\u201cEPS\u201d) in 2003 includes the effect of dividends accrued on our redeemable convertible preferred stock.", + "In 2003, securities that could potentially dilute basic EPS in the future were not included in the computation of diluted EPS, because to do so would have been anti-dilutive.", + "See Note 12, \u201cEarnings Per Share\u201d.", + "Revenue Recognition The majority of the Company\u2019s revenues are derived from commissions for trades executed on the electronic trading platform that are billed to its broker-dealer clients on a monthly basis.", + "The Company also derives revenues from information and user access fees, license fees, interest and other income.", + "Commissions are generally calculated as a percentage of the notional dollar volume of bonds traded on the electronic trading platform and vary based on the type and maturity of the bond traded.", + "Under the transaction fee plans, bonds that are more actively traded or that have shorter maturities are generally charged lower commissions, while bonds that are less actively traded or that have longer maturities generally command higher commissions.", + "Commissions are recorded on a trade date basis.", + "The Company\u2019s standard fee schedule for U. S. high-grade corporate bonds was revised in August 2003 to provide lower average transaction commissions for dealers who transacted higher U. S. high-grade volumes through the platform, while at the same time providing an element of fixed commissions over the two-year term of the plans.", + "One of the revised plans that was suited for the Company\u2019s most active broker-dealer clients included a fee cap that limited the potential growth in U. S. high-grade revenue.", + "The fee caps were set to take effect at volume levels significantly above those being transacted at the time the revised transaction fee plans were introduced.", + "Most broker-dealer clients entered into fee arrangements with respect to the trading of U. S. high-grade corporate bonds that included both a fixed component and a variable component.", + "These agreements had been scheduled to expire during the third quarter of 2005.", + "On June 1, 2005, the Company introduced a new fee plan primarily for secondary market transactions in U. S. high-grade corporate bonds executed on its electronic trading platform.", + "As of December 31, 2005, 17 of the Company\u2019s U. S. high-grade broker-dealer clients have signed new two-year agreements that supersede the fee arrangements that were entered into with many of its broker-dealer clients during the third quarter of 2003.", + "The new plan incorporates higher fixed monthly fees and lower variable fees for broker\u0002dealer clients than the previous U. S. high-grade corporate transaction fee plans described above, and incorporates volume incentives to broker-dealer clients that are designed to increase the volume of transactions effected on the Company\u2019s", + "The U. S. high-grade average variable transaction fee per million increased from $84 per million for the year ended December 31, 2007 to $121 per million for the year ended December 31, 2008 due to the longer maturity of trades executed on the platform, for which we charge higher commissions.", + "The Eurobond average variable transaction fee per million decreased from $138 per million for the year ended December 31, 2007 to $112 per million for the year ended December 31, 2008, principally from the introduction of the new European high-grade fee plan.", + "Other average variable transaction fee per million increased from $121 per million for the year ended December 31, 2007 to $158 per million for the year ended December 31, 2008 primarily due to a higher percentage of volume in products that carry higher fees per million, principally high-yield.", + "Technology Products and Services.", + "Technology products and services revenues increased by $7.8 million to $8.6 million for the year ended December 31, 2008 from $0.7 million for the year ended December 31, 2007.", + "The increase was primarily a result of the Greenline acquisition.", + "Information and User Access Fees.", + "Information and user access fees increased by $0.1 million or 2.5% to $6.0 million for the year ended December 31, 2008 from $5.9 million for the year ended December 31, 2007.", + "Investment Income.", + "Investment income decreased by $1.8 million or 33.7% to $3.5 million for the year ended December 31, 2008 from $5.2 million for the year ended December 31, 2007.", + "This decrease was primarily due to lower interest rates.", + "Other.", + "Other revenues decreased by $0.1 million or 4.4% to $1.5 million for the year ended December 31, 2008 from $1.6 million for the year ended December 31, 2007.", + "Expenses Our expenses for the years ended December 31, 2008 and 2007, and the resulting dollar and percentage changes, were as follows:", + "||Year Ended December 31,|\n||2008|2007|||\n|||% of||% of|$|%|\n|| $|Revenues| $|Revenues|Change|Change|\n||($ in thousands)|\n| Expenses|||||||\n|Employee compensation and benefits|$43,810|47.1%|$43,051|46.0%|$759|1.8%|\n|Depreciation and amortization|7,879|8.5|7,170|7.7|709|9.9|\n|Technology and communications|8,311|8.9|7,463|8.0|848|11.4|\n|Professional and consulting fees|8,171|8.8|7,639|8.2|532|7.0|\n|Occupancy|2,891|3.1|3,275|3.5|-384|-11.7|\n|Marketing and advertising|3,032|3.3|1,905|2.0|1,127|59.2|\n|General and administrative|6,157|6.6|5,889|6.3|268|4.6|\n|Total expenses|$80,251|86.2%|$76,392|81.6%|$3,859|5.1%|\n", + "$43.8 million for the year ended December 31, 2008 from $43.1 million for the year ended December 31, 2007.", + "This increase was primarily attributable to higher wages of $2.4 million, severance costs of $1.0 million and stock\u0002based compensation expense of $1.4 million, offset by reduced incentive compensation of $3.6 million.", + "The higher wages were primarily a result of the Greenline acquisition.", + "The total number of employees increased to 185 as of December 31, 2008 from 182 as of December 31, 2007.", + "As a percentage of total revenues, employee compensation and benefits expense increased to 47.1% for the year ended December 31, 2008 from 46.0% for the year ended December 31, 2007.", + "Depreciation and Amortization.", + "Depreciation and amortization expense increased by $0.7 million or 9.9% to $7.9 million for the year ended December 31, 2008 from $7.2 million for the year ended December 31, 2007.", + "An increase in amortization of intangible assets of $1.3 million and the TWS impairment charge of $0.7 million were offset by a decline in depreciation and amortization of hardware and software development costs of $1.3 million.", + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) of this standard had no material effect on the Company\u2019s Consolidated Statements of Financial Condition and Consolidated Statements of Operations.", + "Reclassifications Certain reclassifications have been made to the prior years\u2019 financial statements in order to conform to the current year presentation.", + "Such reclassifications had no effect on previously reported net income.", + "On March 5, 2008, the Company acquired all of the outstanding capital stock of Greenline Financial Technologies, Inc. (\u201cGreenline\u201d), an Illinois-based provider of integration, testing and management solutions for FIX-related products and services designed to optimize electronic trading of fixed-income, equity and other exchange-based products, and approximately ten percent of the outstanding capital stock of TradeHelm, Inc. , a Delaware corporation that was spun-out from Greenline immediately prior to the acquisition.", + "The acquisition of Greenline broadens the range of technology services that the Company offers to institutional financial markets, provides an expansion of the Company\u2019s client base, including global exchanges and hedge funds, and further diversifies the Company\u2019s revenues beyond the core electronic credit trading products.", + "The results of operations of Greenline are included in the Consolidated Financial Statements from the date of the acquisition.", + "The aggregate consideration for the Greenline acquisition was $41.1 million, comprised of $34.7 million in cash, 725,923 shares of common stock valued at $5.8 million and $0.6 million of acquisition-related costs.", + "In addition, the sellers were eligible to receive up to an aggregate of $3.0 million in cash, subject to Greenline attaining certain earn\u0002out targets in 2008 and 2009.", + "A total of $1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target, bringing the aggregate consideration to $42.4 million.", + "The 2009 earn-out target was not met.", + "A total of $2.0 million of the purchase price, which had been deposited into escrow accounts to satisfy potential indemnity claims, was distributed to the sellers in March 2009.", + "The shares of common stock issued to each selling shareholder of Greenline were released in two equal installments on December 20, 2008 and December 20, 2009, respectively.", + "The value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period.", + "The purchase price allocation is as follows (in thousands):", + "|Cash|$6,406|\n|Accounts receivable|2,139|\n|Amortizable intangibles|8,330|\n|Goodwill|29,405|\n|Deferred tax assets, net|3,410|\n|Other assets, including investment in TradeHelm|1,429|\n|Accounts payable, accrued expenses and deferred revenue|-8,701|\n|Total purchase price|$42,418|\n", + "The amortizable intangibles include $3.2 million of acquired technology, $3.3 million of customer relationships, $1.3 million of non-competition agreements and $0.5 million of tradenames.", + "Useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles, respectively.", + "The identifiable intangible assets and goodwill are not deductible for tax purposes.", + "The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the years ended December 31, 2008 and 2007, as if the acquisition of Greenline had occurred as of the beginning of the period presented, after giving effect to certain purchase accounting adjustments.", + "These pro forma results are not necessarily indicative of what the Company\u2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented.", + "The pro forma financial information" + ], + "question_id": "simplong-test-130", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Catastrophes for Prior Years, what's the increasing rate of Attritional for Total Incurred?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "allows us to repurchase shares at times when we may otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.", + "Subject to applicable regulations, we may elect to amend or cancel this repurchase program or the share repurchase parameters at our discretion.", + "As of December 31, 2018, we have repurchased an aggregate of 4,510,000 shares of common stock under this program.", + "Credit Facilities and Short-Term Debt We have an unsecured revolving credit facility of $2.25 billion that expires in June 2023.", + "In March 2018, AWCC and its lenders amended and restated the credit agreement with respect to AWCC\u2019s revolving credit facility to increase the maximum commitments under the facility from $1.75 billion to $2.25 billion, and to extend the expiration date of the facility from June 2020 to March 2023.", + "All other terms, conditions and covenants with respect to the existing facility remained unchanged.", + "Subject to satisfying certain conditions, the credit agreement also permits AWCC to increase the maximum commitment under the facility by up to an aggregate of $500 million, and to request extensions of its expiration date for up to two, one-year periods.", + "Interest rates on advances under the facility are based on a credit spread to the LIBOR rate or base rate in accordance with Moody Investors Service\u2019s and Standard & Poor\u2019s Financial Services\u2019 then applicable credit rating on AWCC\u2019s senior unsecured, non-credit enhanced debt.", + "The facility is used principally to support AWCC\u2019s commercial paper program and to provide up to $150 million in letters of credit.", + "Indebtedness under the facility is considered \u201cdebt\u201d for purposes of a support agreement between the Company and AWCC, which serves as a functional equivalent of a guarantee by the Company of AWCC\u2019s payment obligations under the credit facility.", + "AWCC also has an outstanding commercial paper program that is backed by the revolving credit facility, the maximum aggregate outstanding amount of which was increased in March 2018, from $1.60 billion to $2.10 billion.", + "The following table provides the aggregate credit facility commitments, letter of credit sub-limit under the revolving credit facility and commercial paper limit, as well as the available capacity for each as of December 31, 2018 and 2017:", + "||2018|2017|2016|\n|Total common shareholders' equity|40.4%|41.0%|42.1%|\n|Long-term debt and redeemable preferred stock at redemption value|52.4%|49.6%|46.4%|\n|Short-term debt and current portion of long-term debt|7.2%|9.4%|11.5%|\n|Total|100%|100%|100%|\n", + "The weighted average interest rate on AWCC short-term borrowings for the years ended December 31, 2018 and 2017 was approximately 2.28% and 1.24%, respectively.", + "Capital Structure The following table provides the percentage of our capitalization represented by the components of our capital structure as of December 31:", + "The effective income tax rate from continuing operations for the years ended December 31 varies from the U. S. statutory federal income tax rate as follows:", + "||Percentage of Pretax Earnings|\n||2017|2016|2015|\n|Statutory federal income tax rate|35.0%|35.0%|35.0%|\n|Increase (decrease) in tax rate resulting from:||||\n|State income taxes (net of federal income tax benefit)|0.8%|0.6%|0.7%|\n|Foreign income taxed at lower rate than U.S. statutory rate|-11.6%|-10.2%|-17.1%|\n|Resolution and expiration of statutes of limitation of uncertain tax positions|-6.5%|-3.1%|-0.7%|\n|Permanent foreign exchange losses|-0.6%|-8.2%|-4.6%|\n|Research credits, uncertain tax positions and other|-1.0%|3.4%|1.1%|\n|Revaluation of U.S. deferred income taxes|-41.5%|\u2014%|\u2014%|\n|TCJA - Transition Tax|41.4%|\u2014%|\u2014%|\n|Effective income tax rate|16.0%|17.5%|14.4%|\n", + "The Company\u2019s effective tax rate for each of 2017, 2016 and 2015 differs from the U. S. federal statutory rate of 35.0% due principally to the Company\u2019s earnings outside the United States that are indefinitely reinvested and taxed at rates lower than the U. S. federal statutory rate.", + "In addition: ?", + "The effective tax rate of 16.0% in 2017 includes 500 basis points of net tax benefits related to the revaluation of net U. S. deferred tax liabilities from 35.0% to 21.0% due to the TCJA and release of reserves upon statute of limitation expiration, partially offset by income tax expense related to the Transition Tax on foreign earnings due to the TCJA and changes in estimates associated with prior period uncertain tax positions. ?", + "The effective tax rate of 17.5% in 2016 includes 350 basis points of net tax benefits from permanent foreign exchange losses and the release of reserves upon the expiration of statutes of limitation and audit settlements, partially offset by income tax expense related to repatriation of earnings and legal entity realignments associated with the Separation and changes in estimates associated with prior period uncertain tax positions. ?", + "The effective tax rate of 14.4% in 2015 includes 290 basis points of net tax benefits from permanent foreign exchange losses, releases of valuation allowances related to foreign operating losses and the release of reserves upon the expiration of statutes of limitation, partially offset by changes in estimates associated with prior period uncertain tax positions.", + "The Company made income tax payments related to both continuing and discontinued operations of $689 million, $767 million and $584 million in 2017, 2016 and 2015, respectively.", + "Current income taxes payable related to both continuing and discontinued operations has been reduced by $85 million, $99 million, and $147 million in 2017, 2016 and 2015, respectively, for tax deductions attributable to stock-based compensation, of which, the excess tax benefit over the amount recorded for financial reporting purposes for both continuing and discontinued operations was $55 million, $50 million and $88 million, respectively.", + "The excess tax benefits realized have been recorded as increases to additional paid-in capital for the years ended December 31, 2016 and 2015 and are reflected as a financing cash inflow in the accompanying Consolidated Statements of Cash Flows.", + "As a result of the adoption of ASU 2016-09, Compensation\u2014Stock Compensation, the excess tax benefit for the year ended December 31, 2017 has been recorded as a reduction to the current income tax provision and is reflected as an operating cash inflow in the accompanying Consolidated Statement of Cash Flows.", + "Included in deferred income taxes related to continuing operations as of December 31, 2017 are tax benefits for U. S. and non\u0002U.", + "S. net operating loss carryforwards totaling $502 million ($283 million of which the Company does not expect to realize and have corresponding valuation allowances).", + "Certain of the losses can be carried forward indefinitely and others can be carried forward to various dates from 2018 through 2037.", + "In addition, the Company had general business and foreign tax credit carryforwards related to continuing operations of $171 million ($30 million of which the Company does not expect to realize and have corresponding valuation allowances) as of December 31, 2017, which can be carried forward to various dates from 2018 to 2027.", + "In addition, as of December 31, 2017, the Company had $12 million of valuation allowances related to other deferred tax asset balances that are not more likely than not of being realized.", + "As of December 31, 2017, gross unrecognized tax benefits related to continuing operations totaled $737 million ($736 million, net of the impact of $104 million of indirect tax benefits offset by $103 million associated with potential interest and penalties).", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the U. S. Reinsurance segment for the periods indicated.", + "||Years Ended December 31,||\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2015||||||||||\n|Attritional|$940.6|48.2%||$-123.1|-6.3%||$817.5|41.9%||\n|Catastrophes|16.7|0.9%||-9.2|-0.5%||7.6|0.4%||\n|Total segment|$957.4|49.1%||$-132.3|-6.8%||$825.1|42.3%||\n|2014||||||||||\n|Attritional|$933.3|47.0%||$24.5|1.2%||$957.8|48.2%||\n|Catastrophes|12.5|0.6%||-15.8|-0.8%||-3.3|-0.2%||\n|Total segment|$945.8|47.6%||$8.7|0.4%||$954.5|48.0%||\n|2013||||||||||\n|Attritional|$781.8|46.7%||$-36.7|-2.2%||$745.2|44.5%||\n|Catastrophes|51.8|3.1%||17.7|1.1%||69.5|4.2%||\n|Total segment|$833.6|49.8%||$-18.9|-1.1%||$814.7|48.7%||\n|Variance 2015/2014||||||||||\n|Attritional|$7.3|1.2|pts|$-147.6|-7.5|pts|$-140.3|-6.3|pts|\n|Catastrophes|4.2|0.3|pts|6.6|0.3|pts|10.9|0.6|pts|\n|Total segment|$11.6|1.5|pts|$-141.0|-7.2|pts|$-129.4|-5.7|pts|\n|Variance 2014/2013||||||||||\n|Attritional|$151.5|0.3|pts|$61.2|3.4|pts|$212.6|3.7|pts|\n|Catastrophes|-39.3|-2.5|pts|-33.5|-1.9|pts|-72.8|-4.4|pts|\n|Total segment|$112.2|-2.2|pts|$27.7|1.5|pts|$139.9|-0.7|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses decreased by 13.6% to $825.1 million in 2015 compared to $954.5 million in 2014, primarily due to an increase in favorable development of $147.6 million on prior year attritional losses in 2015 compared to 2014 related to treaty property, treaty casualty, marine lines of business and less year over year development on A&E reserves.", + "This favorable development was partially offset by the increase in current year attritional losses of $7.3 million resulting primarily from $14.2 million related to the explosion at the Chinese port of Tianjin.", + "Current year catastrophe losses were $16.7 million in 2015 mainly due to the US storms ($16.2 million).", + "The $12.5 million of current year catastrophe losses in 2014 related to the Japan snowstorm ($7.8 million) and Hurricane Odile ($4.7 million).", + "Incurred losses increased by 17.2% to $954.5 million in 2014 compared to $814.7 million in 2013, primarily due to the increase in current year attritional losses of $151.5 million resulting primarily from the impact of the increase in premiums earned and less favorable development of $61.2 million on prior years\u2019 attritional losses in 2014 compared to 2013, mainly related to an increase in A&E reserves.", + "This increase was partially offset by a decrease in current year catastrophe losses (outlined above) and favorable development of $33.5 million on prior year catastrophe losses in 2014 compared to 2013, mainly related to Superstorm Sandy.", + "The $51.8 million of current year catastrophe losses in 2013 were mainly due to U. S. Storms ($44.8 million), the European floods ($5.0 million) and the Canadian Floods ($2.0 million).", + "Segment Expenses.", + "Commission and brokerage expenses increased by 5.8% to $493.3 million in 2015 compared to $466.3 million in 2014.", + "The variance was primarily due to the impact of changes in the mix of business.", + "Segment other underwriting expenses increased to $50.1 million in 2015 from $45.6 million in 2014.", + "The increase was primarily due to the impact of changes in the mix of business and higher employee benefit costs." + ], + "question_id": "simplong-test-131", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "for december 31 , 2009 , what was the total value of segregated collateral for the benefit of brokerage customers in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Mortgage-related exposures carried at fair value The following table provides a summary of the Firm\u2019s mortgage-related exposures, including the impact of risk management activities.", + "These exposures include all mortgage-related securities and loans carried at fair value regardless of their classification within the fair value hierarchy, and that are carried at fair value through earnings or at the lower of cost or fair value.", + "The table excludes securities held in the available-for-sale portfolio, which are reported on page 170 of this Note.", + "||Exposure as of December 31, 2009|Exposure as of December 31, 2008|Net gains/(losses) (e)|\n||||||Reported|Reported|\n||||||in income \u2013|in income \u2013|\n|||Net of risk||Net of risk|year ended|year ended|\n|||management||management|December 31,|December 31,|\n|(in millions)|Gross|activities(d)|Gross|activities (d)|2009|2008|\n| U.S.Residential Mortgage:(a)(b)(c)|||||||\n|Prime|$3,482|$3,482|$4,612|$4,612|||\n|Alt-A|3,030|3,030|3,934|3,917|||\n||6,512|6,512|8,546|8,529|$537|$-4,093|\n|Subprime|569|137|941|-28|-76|-369|\n| Non-U.S. Residential(c)|1,702|1,321|1,591|951|86|-292|\n| Commercial Mortgage:|||||||\n|Securities|2,337|1,898|2,836|1,438|257|-792|\n|Loans|2,699|2,035|4,338|2,179|-333|-752|\n", + "(a) Excluded at December 31, 2009 and 2008, are certain mortgages and mortgage-related assets that are carried at fair value and recorded in trading assets, such as: (i) U. S. government agency securities that are liquid and of high credit quality of $41.7 billion and $58.9 billion, respectively; (ii) conforming mortgage loans originated with the intent to sell to U. S. government agencies of $11.1 billion and $6.2 billion, respectively; and (iii) reverse mortgages of $4.5 billion and $4.3 billion, respectively, for which the principal risk is mortality risk.", + "Also excluded are MSRs, which are reported in Note 17 on pages 222\u2013225 of this Annual Report.", + "(b) Excluded certain mortgage-related financing transactions, which are collateralized by mortgage-related assets, of $4.1 billion and $5.7 billion at December 31, 2009 and 2008, respectively.", + "These financing transactions are excluded from the table, as they are accounted for on an accrual basis of accounting.", + "For certain financings deemed to be impaired, impairment is measured and recognized based on the fair value of the collateral.", + "Of these financing transactions, $136 million and $1.2 billion were considered impaired at December 31, 2009 and 2008, respectively.", + "(c) Total residential mortgage exposures at December 31, 2009 and 2008, include: (i) securities of $3.4 billion and $4.0 billion, respectively; (ii) loans carried at fair value or the lower of cost or fair value of $5.0 billion and $5.9 billion, respectively; and (iii) forward purchase commitments included in derivative receivables of $358 million and $1.2 billion, respectively.", + "(d) Amounts reflect the effects of derivatives used to manage the credit risk of the gross exposures arising from cash-based instruments.", + "The amounts are presented on a bond- or loan-equivalent (notional) basis.", + "Derivatives are excluded from the gross exposure, as they are principally used for risk management purposes.", + "(e) Net gains and losses include all revenue related to the positions (i. e. , interest income, changes in fair value of the assets, changes in fair value of the related risk man\u0002agement positions, and interest expense related to the liabilities funding those positions).", + "Residential mortgages Classification and Valuation \u2013 Residential mortgage loans and MBS are classified within level 2 or level 3 of the valuation hierarchy, depending on the level of liquidity and activity in the markets for a particular product.", + "Level 3 assets include nonagency residential whole loans and subordinated nonagency residential MBS.", + "Prod\u0002ucts that continue to have reliable price transparency as evidenced by consistent market transactions, such as senior nonagency securities, as well as agency securities, are classified in level 2.", + "For those products classified within level 2 of the valuation hierar\u0002chy, the Firm estimates the value of such instruments using a combination of observed transaction prices, independent pricing services and relevant broker quotes.", + "Consideration is given to the nature of the quotes (e. g. , indicative or firm) and the relationship of recently evidenced market activity to the prices provided from independent pricing services.", + "When relevant market activity is not occurring or is limited, the fair value is estimated as follows: Residential mortgage loans \u2013 Fair value of residential mortgage loans is estimated by projecting the expected cash flows and discounting those cash flows at a rate reflective of current market liquidity.", + "To estimate the projected cash flows (inclusive of as\u0002sumptions of prepayment, default rates and loss severity), specific consideration is given to both borrower-specific and other market factors, including, but not limited to: the borrower\u2019s FICO score; the type of collateral supporting the loan; an estimate of the current value of the collateral supporting the loan; the level of documentation for the loan; and market-derived expectations for home price appreciation or depreciation in the respective geogra\u0002phy of the borrower.", + "Residential mortgage-backed securities \u2013 Fair value of residential MBS is estimated considering the value of the collateral and the specific attributes of the securities held by the Firm.", + "The value of the collateral pool supporting the securities is analyzed using the same techniques and factors described above for residential mort\u0002gage loans, albeit in a more aggregated manner across the pool.", + "For example, average FICO scores, average delinquency rates, average loss severities and prepayment rates, among other met\u0002rics, may be evaluated.", + "In addition, as each securitization vehicle distributes cash in a manner or order that is predetermined at the inception of the vehicle, the priority in which each particular MBS is allocated cash flows, and the level of credit enhancement that is in place to support those cash flows, are key considerations in deriving the value of residential MBS.", + "Finally, the risk premium that investors demand for securitized products in the current market is factored into the valuation.", + "To benchmark its valuations, the Firm looks to transactions for similar instruments and utilizes independ-", + "Notes to consolidated financial statements JPMorgan Chase & Co. /2009 Annual Report 236 The following table presents the U. S. and non-U.", + "S. components of income before income tax expense/(benefit) and extraordinary gain for the years ended December 31, 2009, 2008 and 2007.", + "Year ended December 31,", + "|Year ended December 31, (in millions)|2009|2008|2007|\n|U.S.|$6,263|$-2,094|$13,720|\n|Non-U.S.(a)|9,804|4,867|9,085|\n|Income before income taxexpense/(benefit) andextraordinary gain|$16,067|$2,773|$22,805|\n", + "(a) For purposes of this table, non-U.", + "S. income is defined as income generated from operations located outside the U. S. Note 28 \u2013 Restrictions on cash and inter\u0002company funds transfers The business of JPMorgan Chase Bank, National Association (\u201cJPMorgan Chase Bank, N. A.", + "\u201d) is subject to examination and regulation by the Office of the Comptroller of the Currency (\u201cOCC\u201d).", + "The Bank is a member of the U. S. Federal Reserve Sys\u0002tem, and its deposits are insured by the FDIC.", + "The Board of Governors of the Federal Reserve System (the \u201cFed\u0002eral Reserve\u201d) requires depository institutions to maintain cash reserves with a Federal Reserve Bank.", + "The average amount of reserve balances deposited by the Firm\u2019s bank subsidiaries with various Federal Reserve Banks was approximately $821 million and $1.6 billion in 2009 and 2008, respectively.", + "Restrictions imposed by U. S. federal law prohibit JPMorgan Chase and certain of its affiliates from borrowing from banking subsidiar\u0002ies unless the loans are secured in specified amounts.", + "Such secured loans to the Firm or to other affiliates are generally limited to 10% of the banking subsidiary\u2019s total capital, as determined by the risk\u0002based capital guidelines; the aggregate amount of all such loans is limited to 20% of the banking subsidiary\u2019s total capital.", + "The principal sources of JPMorgan Chase\u2019s income (on a parent company\u2013only basis) are dividends and interest from JPMorgan Chase Bank, N. A. , and the other banking and nonbanking subsidi\u0002aries of JPMorgan Chase.", + "In addition to dividend restrictions set forth in statutes and regulations, the Federal Reserve, the OCC and the FDIC have authority under the Financial Institutions Supervisory Act to prohibit or to limit the payment of dividends by the banking organizations they supervise, including JPMorgan Chase and its subsidiaries that are banks or bank holding companies, if, in the banking regulator\u2019s opinion, payment of a dividend would consti\u0002tute an unsafe or unsound practice in light of the financial condi\u0002tion of the banking organization.", + "At January 1, 2010 and 2009, JPMorgan Chase\u2019s banking subsidi\u0002aries could pay, in the aggregate, $3.6 billion and $17.0 billion, respectively, in dividends to their respective bank holding compa\u0002nies without the prior approval of their relevant banking regulators.", + "The capacity to pay dividends in 2010 will be supplemented by the banking subsidiaries\u2019 earnings during the year.", + "In compliance with rules and regulations established by U. S. and non-U.", + "S. regulators, as of December 31, 2009 and 2008, cash in the amount of $24.0 billion and $34.8 billion, respectively, and securities with a fair value of $10.2 billion and $23.4 billion, re\u0002spectively, were segregated in special bank accounts for the benefit of securities and futures brokerage customers.", + "Note 29 \u2013 Capital The Federal Reserve establishes capital requirements, including well-capitalized standards for the consolidated financial holding company.", + "The OCC establishes similar capital requirements and standards for the Firm\u2019s national banks, including JPMorgan Chase Bank, N. A. , and Chase Bank USA, N. A.", + "There are two categories of risk-based capital: Tier 1 capital and Tier 2 capital.", + "Tier 1 capital includes common stockholders\u2019 equity, qualifying preferred stock and minority interest less goodwill and other adjustments.", + "Tier 2 capital consists of preferred stock not qualifying as Tier 1, subordinated long-term debt and other instru\u0002ments qualifying as Tier 2, and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets.", + "Total regulatory capital is subject to deductions for investments in certain subsidiaries.", + "Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of Tier 1 and Total (Tier 1 plus Tier 2) capital to risk-weighted assets, as well as minimum leverage ratios (which are defined as Tier 1 capital to average adjusted on\u2013balance sheet assets).", + "Failure to meet these minimum requirements could cause the Federal Reserve to take action.", + "Banking subsidiaries also are subject to these capital requirements by their respective primary regulators.", + "As of December 31, 2009 and 2008, JPMorgan Chase and all of its banking sub\u0002sidiaries were well-capitalized and met all capital requirements to which each was subject.", + "CONSOLIDATED RESULTS OF OPERATIONS This following section provides a comparative discussion of JPMorgan Chase\u2019s Consolidated Results of Operations on a reported basis for the three-year period ended December 31, 2009.", + "Factors that related primarily to a single business segment are discussed in more detail within that business segment.", + "For a discussion of the Critical Ac\u0002counting Estimates Used by the Firm that affect the Consolidated Results of Operations, see pages 135\u2013139 of this Annual Report.", + "Revenue Year ended December 31,", + "|Year ended December 31, (in millions)|2009|2008|2007|\n|Investment banking fees|$7,087|$5,526|$6,635|\n|Principal transactions|9,796|-10,699|9,015|\n|Lending- and deposit-related fees|7,045|5,088|3,938|\n|Asset management, administrationand commissions|12,540|13,943|14,356|\n|Securities gains|1,110|1,560|164|\n|Mortgage fees and related income|3,678|3,467|2,118|\n|Credit card income|7,110|7,419|6,911|\n|Other income|916|2,169|1,829|\n|Noninterest revenue|49,282|28,473|44,966|\n|Net interest income|51,152|38,779|26,406|\n|Total net revenue|$100,434|$67,252|$71,372|\n", + "2009 compared with 2008 Total net revenue was $100.4 billion, up by $33.2 billion, or 49%, from the prior year.", + "The increase was driven by higher principal transactions revenue, primarily related to improved performance across most fixed income and equity products, and the absence of net markdowns on legacy leveraged lending and mortgage positions in IB, as well as higher levels of trading gains and investment securities income in Corporate/Private Equity.", + "Results also benefited from the impact of the Washington Mutual transaction, which contributed to increases in net interest income, lending- and deposit-related fees, and mortgage fees and related income.", + "Lastly, higher investment banking fees also contributed to revenue growth.", + "These increases in revenue were offset partially by reduced fees and commissions from the effect of lower market levels on assets under management and custody, and the absence of proceeds from the sale of Visa shares in its initial public offering in the first quarter of 2008.", + "Investment banking fees increased from the prior year, due to higher equity and debt underwriting fees.", + "For a further discussion of invest\u0002ment banking fees, which are primarily recorded in IB, see IB segment results on pages 63\u201365 of this Annual Report.", + "Principal transactions revenue, which consists of revenue from trading and private equity investing activities, was significantly higher com\u0002pared with the prior year.", + "Trading revenue increased, driven by improved performance across most fixed income and equity products; modest net gains on legacy leveraged lending and mortgage-related positions, compared with net markdowns of $10.6 billion in the prior year; and gains on trading positions in Corporate/Private Equity, compared with losses in the prior year of $1.1 billion on markdowns of Federal National Mortgage Association (\u201cFannie Mae\u201d) and Fed\u0002eral Home Loan Mortgage Corporation (\u201cFreddie Mac\u201d) preferred securities.", + "These increases in revenue were offset partially by an aggregate loss of $2.3 billion from the tightening of the Firm\u2019s credit spread on certain structured liabilities and derivatives, compared with gains of $2.0 billion in the prior year from widening spreads on these liabilities and derivatives.", + "The Firm\u2019s private equity investments pro\u0002duced a slight net loss in 2009, a significant improvement from a larger net loss in 2008.", + "For a further discussion of principal transac\u0002tions revenue, see IB and Corporate/Private Equity segment results on pages 63\u201365 and 82\u201383, respectively, and Note 3 on pages 156\u2013 173 of this Annual Report.", + "Lending- and deposit-related fees rose from the prior year, predomi\u0002nantly reflecting the impact of the Washington Mutual transaction and organic growth in both lending- and deposit-related fees in RFS, CB, IB and TSS.", + "For a further discussion of lending- and deposit\u0002related fees, which are mostly recorded in RFS, TSS and CB, see the RFS segment results on pages 66\u201371, the TSS segment results on pages 77\u201378, and the CB segment results on pages 75\u201376 of this Annual Report.", + "The decline in asset management, administration and commissions revenue compared with the prior year was largely due to lower asset management fees in AM from the effect of lower market levels.", + "Also contributing to the decrease were lower administration fees in TSS, driven by the effect of market depreciation on certain custody assets and lower securities lending balances; and lower brokerage commis\u0002sions revenue in IB, predominantly related to lower transaction vol\u0002ume.", + "For additional information on these fees and commissions, see the segment discussions for TSS on pages 77\u201378, and AM on pages 79\u201381 of this Annual Report.", + "Securities gains were lower in 2009 and included credit losses related to other-than-temporary impairment and lower gains on the sale of MasterCard shares of $241 million in 2009, compared with $668 million in 2008.", + "These decreases were offset partially by higher gains from repositioning the Corporate investment securities portfolio in connection with managing the Firm\u2019s structural interest rate risk.", + "For a further discussion of securities gains, which are mostly recorded in Corporate/Private Equity, see the Corpo\u0002rate/Private Equity segment discussion on pages 82\u201383 of this Annual Report.", + "Mortgage fees and related income increased slightly from the prior year, as higher net mortgage servicing revenue was largely offset by lower production revenue.", + "The increase in net mortgage servicing revenue was driven by growth in average third-party loans serviced as a result of the Washington Mutual transaction.", + "Mortgage production revenue declined from the prior year, reflecting an increase in esti\u0002mated losses from the repurchase of previously-sold loans, offset partially by wider margins on new originations.", + "For a discussion of mortgage fees and related income, which is recorded primarily in RFS\u2019s Consumer Lending business, see the Consumer Lending discus\u0002sion on pages 68\u201371 of this Annual Report.", + "Credit card income, which includes the impact of the Washington Mutual transaction, decreased slightly compared with the prior year,", + "Note 26 \u2013 Income taxes JPMorgan Chase and its eligible subsidiaries file a consolidated U. S. federal income tax return.", + "JPMorgan Chase uses the asset and liability method to provide income taxes on all transactions recorded in the Consolidated Financial Statements.", + "This method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets or liabilities for book and tax purposes.", + "Accordingly, a deferred tax asset or liability for each temporary difference is determined based on the tax rates that the Firm expects to be in effect when the underlying items of income and expense are realized.", + "JPMorgan Chase\u2019s expense for income taxes includes the current and deferred portions of that expense.", + "A valuation allowance is established to reduce deferred tax assets to the amount the Firm expects to realize.", + "Due to the inherent complexities arising from the nature of the Firm\u2019s businesses, and from conducting business and being taxed in a substantial number of jurisdictions, significant judgments and estimates are required to be made.", + "Agreement of tax liabilities between JPMorgan Chase and the many tax jurisdictions in which the Firm files tax returns may not be finalized for several years.", + "Thus, the Firm\u2019s final tax-related assets and liabilities may ultimately be different from those currently reported.", + "The components of income tax expense/(benefit) included in the Consolidated Statements of Income were as follows for each of the years ended December 31, 2012, 2011, and 2010.", + "Income tax expense/(benefit)" + ], + "question_id": "simplong-test-132", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Regulated natural gas, what's the increasing rate of Nonregulated electric and other?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. , and Subsidiaries The Capital Markets wind-down and other segment developments affecting pre-tax income (loss) described above are discussed further in Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Liquidity of Parent and Subsidiaries \u2014 Financial Services \u2014 Capital Markets Wind-down.", + "Accrued compounding interest and fees (reflected as non-cash expenses) were paid in kind in 2010 and 2009 under the provisions of the FRBNY Credit Facility and, accordingly, did not reduce operating cash flow in any period.", + "Debt under the FRBNY Credit Facility includes total accrued compounding interest and fees of $6.4 billion at December 31, 2010.", + "This amount was fully repaid in cash on January 14, 2011 as part of the Recapitalization.", + "Net cash used in investing activities in 2010 primarily resulted from net purchases of fixed maturity securities, resulting from AIG\u2019s investment of cash generated from operating activities, and the redeployment of liquidity that had been accumulated by the insurance companies in 2008 and 2009.", + "In these years, Net cash provided by investing activities resulted from the net proceeds from the sale and maturity of investments.", + "Net cash used in financing activities was significantly lower in 2010 than in 2009, primarily as a result of declines in policyholder contract withdrawals, reflecting improved conditions for the life insurance and retirement services businesses was partially offset by the issuance of long-term debt by ILFC, which is discussed in Liquidity of Parent and Subsidiaries \u2014 Financial Services \u2014 ILFC.", + "Net cash used in financing activities was significantly lower in 2009 than in 2008, also primarily as a result of declines in policyholder contract withdrawals, reduction of payments and the FRBNY Credit Facility and a reduction in repayments of other borrowings.", + "See Contractual Obligations herein for additional information.", + "Liquidity of Parent and Subsidiaries AIG Parent Sources of Liquidity As a result of the Closing of the Recapitalization, AIG has established and maintains substantial sources of actual and contingent liquidity.", + "The following table presents AIG Parent\u2019s sources of liquidity in addition to liquidity that is expected to result from cash flows from operations:", + "| | As of||\n|(In millions) | December 31, 2010 | February 16, 2011 ||\n|Cash(a)|$49|$-||\n|Short-term investments(a)|5,602|8,953||\n|Available capacity under Syndicated Credit Facility(b)|-|3,000||\n|Available capacity under Contingent Liquidity Facility|500|500||\n|Available capacity under the Department of the Treasury Commitment (Series G)(b)|-|2,000||\n|Available borrowing under the FRBNY Credit Facility(c)|9,890|-||\n|Available capacity under the Department of the Treasury Commitment (Series F)(c)|22,292|-||\n|Total AIG Parent liquidity sources(d)|$38,333|$14,453|(e)|\n", + "(a) Includes total Cash and Short-term investments for AIG Parent.", + "See Note 25 to the Consolidated Financial Statements.", + "(b) The Syndicated Credit Facility and the Series G Drawdown Right became effective January 14, 2011, the closing date of the Recapitalization.", + "(c) The FRBNY Credit Facility was fully repaid and terminated, and the Department of Treasury Commitment (Series F) was drawn down on the closing of the Recapitalization.", + "(d) Excludes Cash and Short-term Investments held by AIGFP (excluding Banque AIG S. A. )", + "which are considered to be unrestricted and available for use by AIG Parent; these balances totaled $421 million at December 31, 2010 and $494 million at February 16, 2011.", + "(e) Does not give effect to reduction for a $3.7 billion capital contribution made by AIG Parent to Chartis after February 16, 2011.", + "FRBNY Credit Facility: At December 31, 2010, a total of $21.0 billion was outstanding under the FRBNY Credit Facility, a net decrease of $2.5 billion from December 31, 2009.", + "The amount outstanding at December 31, 2010 included $6.4 billion of accrued compounding interest and fees.", + "On January 14, 2011, AIG used cash proceeds from the AIA initial public offering and the sale of ALICO to fully repay and terminate the FRBNY", + "Comparison of Five-Year Cumulative Total Return The following graph compares the cumulative total return on Citigroup\u2019s common stock with the S&P 500 Index and the S&P Financial Index over the five-year period extending through December31, 2009.", + "The graph assumes that $100 was invested on December31, 2004 in Citigroup\u2019s common stock, the S&P 500 Index and the S&P Financial Index and that all dividends were reinvested.", + "|DECEMBER 31|CITIGROUP|S&P 500 INDEX|S&P FINANCIAL INDEX|\n|2005|104.38|104.83|106.30|\n|2006|124.02|121.20|126.41|\n|2007|70.36|127.85|103.47|\n|2008|18.71|81.12|47.36|\n|2009|9.26|102.15|55.27|\n", + "SECURITIES AND BANKING Securities and Banking (S&B) offers a wide array of investment and commercial banking services and products for corporations, governments, institutional and retail investors, and ultra-high-net worth individuals.", + "S&B includes investment banking and advisory services, lending, debt and equity sales and trading, institutional brokerage, foreign exchange, structured products, cash instruments and related derivatives, and private banking.", + "S&B revenue is generated primarily from fees for investment banking and advisory services, fees and interest on loans, fees and spread on foreign exchange, structured products, cash instruments and related derivatives, income earned on principal transactions, and fees and spreads on private banking services.", + "|In millions of dollars|2009|2008|2007|% Change 2009 vs. 2008|% Change 2008 vs. 2007|\n|Net interest revenue|$12,088|$12,255|$7,450|-1%|64%|\n|Non-interest revenue|15,558|12,680|17,906|23|-29|\n|Revenues, net of interest expense|$27,646|$24,935|$25,356|11%|-2%|\n|Total operating expenses|13,053|15,799|16,178|-17|-2|\n|Net credit losses|720|899|306|-20|NM|\n|Provisions for unfunded lending commitments|138|-185|79|NM|NM|\n|Credit reserve build|853|1,126|201|-24|NM|\n|Provisions for benefits and claims|\u2014|\u2014|1|\u2014|-100|\n|Provisions for loan losses and benefits and claims|$1,711|$1,840|$587|-7%|NM|\n|Income before taxes and noncontrolling interests|$12,882|$7,296|$8,591|77%|-15%|\n|Income taxes|3,730|1,344|2,078|NM|-35|\n|Income from continuing operations|9,152|5,952|6,513|54|-9|\n|Net income (loss) attributable to noncontrolling interests|55|-13|25|NM|NM|\n|Net income|$9,097|$5,965|$6,488|53%|-8%|\n|Average assets(in billions of dollars)|$779|$966|$1,085|-19%|-11%|\n|Return on assets|1.17%|0.62%|0.60%|||\n|Revenues by region||||||\n|North America|$9,400|$10,987|$8,998|-14%|22%|\n|EMEA|10,035|6,006|7,756|67|-23|\n|Latin America|3,411|2,369|3,161|44|-25|\n|Asia|4,800|5,573|5,441|-14|2|\n|Total revenues|$27,646|$24,935|$25,356|11%|-2%|\n|Net income from continuing operations by region||||||\n|North America|$2,417|$2,275|$1,687|6%|35%|\n|EMEA|3,393|656|1,595|NM|-59|\n|Latin America|1,512|1,048|1,436|44|-27|\n|Asia|1,830|1,973|1,795|-7|10|\n|Total net income from continuing operations|$9,152|$5,952|$6,513|54%|-9%|\n|Securities and Banking revenue details||||||\n|Total investment banking|$4,763|$3,245|$5,570|47%|-42%|\n|Lending|-2,153|4,220|1,814|NM|NM|\n|Equity markets|3,182|2,878|5,202|11|-45|\n|Fixed income markets|21,540|14,395|11,507|50|25|\n|Private bank|2,054|2,309|2,473|-11|-7|\n|Other Securities and Banking|-1,740|-2,112|-1,210|18|-75|\n|Total Securities and Banking revenues|$27,646|$24,935|$25,356|11%|-2%|\n", + "PART II DUKE ENERGY CORPORATION ?", + "DUKE ENERGY CAROLINAS, LLC ?", + "PROGRESS ENERGY, INC. ?", + "DUKE ENERGY PROGRESS, LLC ?", + "DUKE ENERGY FLORIDA, LLC ?", + "DUKE ENERGY OHIO, INC. ?", + "DUKE ENERGY INDIANA, LLC ?", + "PIEDMONT NATURAL GAS COMPANY, INC.", + "Combined Notes to Consolidated Financial Statements \u2013 (Continued) a provisional basis, see Note 22, \u201cIncome Taxes,\u201d for additional information.", + "If Duke Energy\u2019s estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of the reversal then Duke Energy\u2019s results of operations could be impacted.", + "Tax-related interest and penalties are recorded in Interest Expense and Other Income and Expenses, net in the Consolidated Statements of Operations.", + "See Note 22 for further information.", + "Accounting for Renewable Energy Tax Credits When Duke Energy receives ITCs on wind or solar facilities, it reduces the basis of the property recorded on the Consolidated Balance Sheets by the amount of the ITC and, therefore, the ITC benefit is ultimately recognized in the statement of operations through reduced depreciation expense.", + "Additionally, certain tax credits and government grants result in an initial tax depreciable base in excess of the book carrying value by an amount equal to one half of the ITC.", + "Deferred tax benefits are recorded as a reduction to income tax expense in the period that the basis difference is created.", + "Excise Taxes Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer.", + "These taxes are recognized on a gross basis.", + "Otherwise, the taxes are accounted for net.", + "Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.", + "||Years Ended December 31,|\n|(in millions)|2017|2016|2015|\n|Duke Energy|$376|$362|$396|\n|Duke Energy Carolinas|36|31|31|\n|Progress Energy|220|213|229|\n|Duke Energy Progress|19|18|16|\n|Duke Energy Florida|201|195|213|\n|Duke Energy Ohio|98|100|102|\n|Duke Energy Indiana|20|17|34|\n|Piedmont(a)|2|||\n", + "NEW ACCOUNTING STANDARDS The new accounting standards adopted for 2017 and 2016 had no material impact on the presentation or results of operations, cash flows or financial position of the Duke Energy Registrants.", + "The following accounting standards were adopted by the Duke Energy Registrants during 2017.", + "Stock-Based Compensation and Income Taxes.", + "In first quarter 2017, Duke Energy adopted Financial Accounting Standards Board (FASB) guidance, which revised the accounting for stock-based compensation and the associated income taxes.", + "The adopted guidance changed certain aspects of accounting for stock-based payment awards to employees including the accounting for income taxes and classification on the Consolidated Statements of Cash Flows.", + "The primary impact to Duke Energy as a result of implementing this guidance was a cumulative-effect adjustment to retained earnings for tax benefits not previously recognized and additional income tax expense for the 12 months ended December 31, 2017.", + "See the Duke Energy Consolidated Statements of Changes in Equity for further information.", + "Goodwill Impairment.", + "In January 2017, the FASB issued revised guidance for the subsequent measurement of goodwill.", + "Under the guidance, a company will recognize an impairment to goodwill for the amount by which a reporting unit\u2019s carrying value exceeds the reporting unit\u2019s fair value, not to exceed the amount of goodwill allocated to that reporting unit.", + "Duke Energy early adopted this guidance for the 2017 annual goodwill impairment test.", + "The following new accounting standards have been issued, but have not yet been adopted by the Duke Energy Registrants, as of December 31, 2017.", + "Revenue from Contracts with Customers.", + "In May 2014, the FASB issued revised accounting guidance for revenue recognition from contracts with customers.", + "The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.", + "The amendments in this update also require disclosure of sufficient information to allow users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.", + "Duke Energy has identified material revenue streams, which served as the basis for accounting analysis and documentation of the impact of this guidance on revenue recognition.", + "The accounting analysis included reviewing representative contracts and tariffs for each material revenue stream.", + "Most of Duke Energy\u2019s revenue will be in scope of the new guidance.", + "The majority of our sales, including energy provided to residential customers, are from tariff offerings that provide natural gas or electricity without a defined contractual term (\u201cat-will\u201d).", + "For such arrangements, revenue from contracts with customers will be equivalent to the electricity or natural gas supplied and billed in that period (including estimated billings).", + "As such, there will not be a significant shift in the timing or pattern of revenue recognition for such sales.", + "Also included in the accounting analysis was the evaluation of certain long-term revenue streams including electric wholesale contracts and renewables power purchase agreements (PPAs).", + "For such arrangements, Duke Energy does not expect material changes to the pattern of revenue recognition on the registrants.", + "In addition, Duke Energy has monitored the activities of the power and utilities industry revenue recognition task force including draft accounting positions released in October 2017 and the impact, if any, on Duke Energy\u2019s specific contracts and conclusions.", + "Potential revisions to processes, policies and controls, primarily related to evaluating supplemental disclosures required as a result of adopting this guidance, will be evaluated and implemented as necessary.", + "Some revenue arrangements, such as alternative revenue programs and certain PPAs accounted for as leases, are excluded", + "PART II DUKE ENERGY CORPORATION ?", + "DUKE ENERGY CAROLINAS, LLC ?", + "PROGRESS ENERGY, INC. ?", + "DUKE ENERGY PROGRESS, LLC ?", + "DUKE ENERGY FLORIDA, LLC ?", + "DUKE ENERGY OHIO, INC. ?", + "DUKE ENERGY INDIANA, LLC ?", + "PIEDMONT NATURAL GAS COMPANY, INC.", + "Combined Notes to Consolidated Financial Statements \u2013 (Continued) Piedmont\u2019s Earnings Piedmont\u2019s revenues and net income included in Duke Energy\u2019s Consolidated Statements of Operations for the year ended December 31, 2016, were $367 million and $20 million, respectively.", + "Piedmont\u2019s revenues and net income for the year ended December 31, 2016, include the impact of non\u0002recurring transaction costs of $10 million and $46 million, respectively.", + "Acquisition Related Financings and Other Matters Duke Energy financed the Piedmont acquisition with a combination of debt and equity issuances and other cash sources, including: ?", + "$3.75 billion of long-term debt issued in August 2016. ?", + "$750 million borrowed under the $1.5 billion short-term loan facility in September 2016, which was repaid in December 2016. ?10.6 million shares of common stock issued in October 2016 for net cash proceeds of approximately $723 million.", + "The $4.9 billion senior unsecured bridge financing facility (Bridge Facility) with Barclays Capital, Inc. (Barclays) was terminated following the issuance of the long-term debt.", + "For additional information related to the debt and equity issuances, see Notes 6 and 18, respectively.", + "For additional information regarding Duke Energy\u2019s and Piedmont\u2019s joint investment in Atlantic Coast Pipeline, LLC (ACP), see Note 4.", + "DISPOSITIONS For the year ended December 31, 2017, the Loss from Discontinued Operations, net of tax, was immaterial.", + "The following table summarizes the (Loss) Income from Discontinued Operations, net of tax recorded on Duke Energy\u2019s Consolidated Statements of Operations for the years ended December 31, 2016, and 2015:", + "||Years Ended December 31,|\n|(in millions)|2016|2015|\n|International Energy Disposal Group|$-534|$157|\n|Midwest Generation Disposal Group|36|33|\n|Other(a)|90|-13|\n|(Loss) Income from Discontinued Operations, net of tax|$-408|$177|\n", + "(a) Relates to previously sold businesses not related to the Disposal Groups.", + "The amount for 2016 represents an income tax benefit resulting from immaterial out of period deferred tax liability adjustments.", + "The amount for 2015 includes indemnifications provided for certain legal, tax and environmental matters and foreign currency translation adjustments.2016 Sale of International Energy In February 2016, Duke Energy announced it had initiated a process to divest its International Energy businesses, excluding the equity method investment in NMC (the International Disposal Group), and in October 2016, announced it had entered into two separate purchase and sale agreements to execute the divestiture.", + "Both sales closed in December of 2016, resulting in available cash proceeds of $1.9 billion, excluding transaction costs.", + "Proceeds were primarily used to reduce Duke Energy holding company (the parent) debt.", + "Existing favorable tax attributes result in no immediate U. S. federal-level cash tax impacts.", + "Details of each transaction are as follows ?", + "On December 20, 2016, Duke Energy closed on the sale of its ownership interests in businesses in Argentina, Chile, Ecuador, El Salvador, Guatemala and Peru to I Squared Capital.", + "The assets sold included approximately 2,230 MW of hydroelectric and natural gas generation capacity, transmission infrastructure and natural gas processing facilities.", + "I Squared Capital purchased the businesses for an enterprise value of $1.2 billion. ?", + "On December 29, 2016, Duke Energy closed on the sale of its Brazilian business, which included approximately 2,090 MW of hydroelectric generation capacity, to CTG for an enterprise value of $1.2 billion.", + "With the closing of the CTG deal, Duke Energy finalized its exit from the Latin American market.", + "Assets Held For Sale and Discontinued Operations As a result of the transactions, the International Disposal Group was classified as held for sale and as discontinued operations in the fourth quarter of 2016.", + "Interest expense directly associated with the International Disposal Group was allocated to discontinued operations.", + "No interest from corporate level debt was allocated to discontinued operations.", + "The following table presents the results of the International Disposal Group for the years ended December 31, 2016, and 2015, which are included in (Loss) Income from Discontinued Operations, net of tax in Duke Energy\u2019s Consolidated Statements of Operations.", + "||Years Ended December 31,|\n|(in millions)|2016|2015|\n|Operating Revenues|$988|$1,088|\n|Fuel used in electric generation and purchased power|227|306|\n|Cost of natural gas|43|53|\n|Operation, maintenance and other|341|334|\n|Depreciation and amortization(a)|62|92|\n|Property and other taxes|15|7|\n|Impairment charges(b)|194|13|\n|(Loss) Gains on Sales of Other Assets and Other, net|-3|6|\n|Other Income and Expenses, net|58|23|\n|Interest Expense|82|85|\n|Pretax loss on disposal(c)|-514|\u2014|\n|(Loss) Income before income taxes(d)|-435|227|\n|Income tax expense(e)(f)|99|70|\n|(Loss) Income from discontinued operations of the International Disposal Group|$-534|$157|\n", + "(a) Upon meeting the criteria for assets held for sale, beginning in the fourth quarter of 2016 depreciation expense was ceased.", + "(b) In conjunction with the advancements of marketing efforts during 2016, Duke Energy performed recoverability tests of the long-lived asset groups of International Energy.", + "As a result, Duke Energy determined the carrying value of certain assets in Central America was not fully recoverable and recorded a pretax impairment charge of $194 million.", + "The charge represents the excess of carrying value over the estimated fair value of the assets, which was based on a Level 3 Fair Value measurement that was primarily determined from the income approach using discounted cash flows but also considered market information obtained in 2016.", + "(c) The pretax loss on disposal includes the recognition of cumulative foreign currency translation losses of $620 million as of the disposal date.", + "See the Consolidated Statements of Changes in Equity for additional information.", + "(d) Pretax (Loss) Income attributable to Duke Energy Corporation was $(445) million and $221 million for the years ended December 31, 2016 and 2015, respectively.", + "(e) 2016 amount includes $126 million of income tax expense on the disposal, which primarily reflects in\u0002country taxes incurred as a result of the sale.", + "The after-tax loss on disposal was $640 million.", + "(f) 2016 amount includes an income tax benefit of $95 million.", + "See Note 22, \u201cIncome Taxes,\u201d for additional information.", + "PART II Interest Expense.", + "The variance was primarily due to higher debt outstanding and lower debt returns driven by the Crystal River Unit 3 regulatory asset debt return ending in June 2016 upon securitization.", + "Income Tax Expense.", + "The variance was primarily due to the impact of the Tax Act and lower pretax earnings.", + "See the Subsidiary Registrants section above for additional information on the Tax Act and the impact on the effective tax rate.", + "Matters Impacting Future Results On August 29, 2017, Duke Energy Florida filed the 2017 Settlement with the FPSC.", + "On November 20, 2017, the FPSC issued an order to approve the 2017 Settlement.", + "See Note 4 to the Consolidated Financial Statements, \u201cRegulatory Matters,\u201d for additional information about the 2017 Settlement.", + "In accordance with the 2017 Settlement, Duke Energy Florida will not seek recovery of any costs associated with the ongoing Westinghouse contract litigation, which is currently being appealed.", + "See Note 5 to the Consolidated Financial Statements, \u201cCommitments and Contingencies\u201d for additional information about the litigation.", + "An unfavorable appeals ruling on that matter could have an adverse impact on Electric Utilities and Infrastructure\u2019s financial position, results of operations and cash flows.", + "Within this Item 7, see the Tax Cuts and Jobs Act above as well as Liquidity and Capital Resources below for risks associated with the Tax Act DUKE ENERGY OHIO", + "||Years Ended December 31,|\n|(in millions)|2017|2016|Variance|\n|Operating Revenues||||\n|Regulated electric|$1,373|$1,410|$-37|\n|Nonregulated electric and other|42|31|11|\n|Regulated natural gas|508|503|5|\n|Total operating revenues|1,923|1,944|-21|\n|Operating Expenses||||\n|Fuel used in electric generation and purchased power \u2013 regulated|369|442|-73|\n|Fuel used in electric generation and purchased power \u2013 nonregulated|58|51|7|\n|Cost of natural gas|107|103|4|\n|Operation, maintenance and other|524|512|12|\n|Depreciation and amortization|261|233|28|\n|Property and other taxes|278|258|20|\n|Impairment charges|1|\u2014|1|\n|Total operating expenses|1,598|1,599|-1|\n|Gains on Sales of Other Assets and Other, net|1|2|-1|\n|Operating Income|326|347|-21|\n|Other Income and Expenses, net|17|9|8|\n|Interest Expense|91|86|5|\n|Income from Continuing Operations Before Income Taxes|252|270|-18|\n|Income Tax Expense from Continuing Operations|59|78|-19|\n|Income from Continuing Operations|193|192|1|\n|(Loss) Income from Discontinued Operations, net of tax|-1|36|-37|\n|Net Income|$192|$228|$-36|\n", + "The following table shows the percent changes in GWh sales of electricity, dekatherms of natural gas delivered and average number of electric and natural gas customers for Duke Energy Ohio.", + "The below percentages for retail customer classes represent billed sales only.", + "Total sales includes billed and unbilled retail sales and wholesale sales to incorporated municipalities and to public and private utilities and power marketers." + ], + "question_id": "simplong-test-133", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Cash and cash equivalents sum up, excluding those negative ones in Fair Value? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of Alcoa\u2019s common stock with (1) the Standard & Poor\u2019s 500?", + "Index and (2) the Standard & Poor\u2019s 500?", + "Materials Index, a group of 27 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector.", + "Such information shall not be deemed to be \u201cfiled.", + "\u201d", + "|As of December 31,|2010|2011|2012|2013|2014|2015|\n|AlcoaInc.|$100|$57|$58|$72|$107|$68|\n|S&P 500\u00aeIndex|100|102|118|157|178|181|\n|S&P 500\u00aeMaterials Index|100|90|104|130|139|128|\n", + "Copyright?2016 Standard & Poor\u2019s, a division of The McGraw-Hill Companies Inc. All rights reserved.", + "Source: Research Data Group, Inc. (www.", + "researchdatagroup.", + "com/S&P.", + "htm)", + "||For the year ended December 31,|\n|$ in millions|2011|2010|\n|Acquisition-related charges|\u2014|5.7|\n|Integration-related charges:|||\n|Staff costs|2.8|39.1|\n|Technology, contractor and related costs|11.0|53.4|\n|Professional services|15.6|51.8|\n|Total integration-related charges|29.4|144.3|\n|Total transaction and integration charges|29.4|150.0|\n", + "3.", + "FAIR VALUE OFASSETS AND LIABILITIES The carrying value and fair value of financial instruments is presented in the below summary table.", + "The fair value of financial instruments held by consolidated investment products is presented in Note 20, \"Consolidated Investment Products. \"", + "||December 31, 2011|December 31, 2010|\n|$ in millions|Footnote Reference|Carrying Value|Fair Value|Carrying Value|Fair Value|\n|Cash and cash equivalents||727.4|727.4|740.5|740.5|\n|Available for sale investments|4|63.5|63.5|100.0|100.0|\n|Assets held for policyholders||1,243.5|1,243.5|1,295.4|1,295.4|\n|Trading investments|4|187.5|187.5|180.6|180.6|\n|Foreign time deposits*|4|32.2|32.2|28.2|28.2|\n|Support agreements*|19,20|-1.0|-1.0|-2.0|-2.0|\n|Policyholder payables||-1,243.5|-1,243.5|-1,295.4|-1,295.4|\n|Financial instruments sold, not yet purchased||-1.0|-1.0|-0.7|-0.7|\n|Derivative liabilities||\u2014|\u2014|-0.1|-0.1|\n|Note Payable||-16.8|-16.8|-18.9|-18.9|\n|Total debt*|9|-1,284.7|-1,307.5|-1,315.7|-1,339.3|\n", + "* These financial instruments are not measured at fair value on a recurring basis.", + "See the indicated footnotes for additional information about the carrying and fair values of these financial instruments.", + "Foreign time deposits are measured at cost plus accrued interest, which approximates fair value.", + "A three-level valuation hierarchy exists for disclosure of fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date.", + "The three levels are defined as follows: ?", + "Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ?", + "Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ?", + "Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.", + "An asset or liability's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.", + "There are three types of valuation approaches: a market approach, which uses observable prices and other relevant information that is generated by market transactions involving identical or comparable assets or liabilities; an income approach, which uses valuation techniques to convert future amounts to a single, discounted present value amount; and a cost approach, which is based on the amount that currently would be required to replace the service capacity of an asset.", + "The following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring", + "Table of Contents Contractual Obligations We have various financial obligations that require future cash payments.", + "The following table outlines the timing of payment requirements related to our commitments as of December 31, 2011:", + "|$ in millions|Total-4(5)|Within 1 Year|1-3 Years|3-5 Years|More Than 5 Years|\n|Total debt|1,284.7|215.1|530.6|539.0|\u2014|\n|Estimated interest payments on total debt-1|90.6|40.1|39.2|11.3|\u2014|\n|Operating leases-2|618.0|69.4|133.1|127.0|288.5|\n|Defined benefit pension and postretirement medical obligations-3|43.8|8.3|26.3|9.2|N/A|\n|Total|2,037.1|332.9|729.2|686.5|288.5|\n", + "(1) Total debt includes $745.7 million of fixed rate debt.", + "Fixed interest payments are therefore reflected in the table above in the periods they are due.", + "The credit facility, $539.0 million outstanding at December 31, 2011, provides for borrowings of various maturities.", + "Interest is payable based upon LIBOR, Prime, Federal Funds or other bank-provided rates in existence at the time of each borrowing.", + "(2) Operating leases reflect obligations for leased building space.", + "See Item 8, Financial Statements and Supplementary Data - Note 14, \u201cOperating Leases\u201d for sublease information.", + "(3) Expected future contributions to defined benefit plans of $43.8 million are estimated for the next five years, and are comprised of $31.8 million related to pension plans and $12.0 million related to a postretirement medical plan.", + "See Item 8, Financial Statements and Supplementary Data - Note 13, \u201cRetirement Benefit Plans\u201d for detailed benefit pension and postretirement plan information.", + "(4) The company has capital commitments into co-invested funds that are to be drawn down over the life of the partnership as investment opportunities are identified.", + "At December 31, 2011, the company's undrawn capital commitments were $161.2 million.", + "See Note 19, \u201cCommitments and Contingencies\u201d for additional details.", + "(5) Due to the uncertainty with respect to the timing of future cash flows associated with unrecognized tax benefits at December 31, 2011, the company is unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities.", + "Therefore, $19.5 million of gross unrecognized tax benefits have been excluded from the contractual obligations table above.", + "See Item 8, Financial Statements and Supplementary Data, Note 16 - \u201cTaxation\u201d for a discussion on income taxes.", + "Critical Accounting Policies and Estimates Our significant accounting policies are disclosed in Item 8, Financial Statements and Supplementary Data - Note 1, \u201cAccounting Policies\u201d to our Consolidated Financial Statements.", + "The accounting policies and estimates that we believe are the most critical to an understanding of our results of operations and financial condition are those that require complex management judgment regarding matters that are highly uncertain at the time policies were applied and estimates were made.", + "These accounting policies and estimates are discussed below; however, the additional accounting policy detail in the footnote previously referenced is important to the discussion of each of the topics.", + "Different estimates reasonably could have been used in the current period that would have had a material effect on these financial statements, and changes in these estimates are likely to occur from period-to-period in the future.", + "Taxation.", + "We operate in several countries and several states through our various subsidiaries, and must allocate our income, expenses, and earnings under the various laws and regulations of each of these taxing jurisdictions.", + "Accordingly, our provision for income taxes represents our total estimate of the liability that we have incurred for doing business each year in all of our locations.", + "Annually we file tax returns that represent our filing positions within each jurisdiction and settle our return liabilities.", + "Each jurisdiction has the right to audit those returns and may take different positions with respect to income and expense allocations and taxable earnings determinations.", + "Because the determinations of our annual provisions are subject to judgments and estimates, it is possible that actual results will vary from those recognized in our financial statements.", + "As a result, it is likely that additions to, or reductions of, income tax expense will occur each year for prior reporting periods as actual tax returns and tax audits are settled.", + "the nature of the business; making a significant accounting policyy change in certain situations; entering into transactions with affiliates; and incurring indebtedness through the subsidiaries (other than the borrower, Invesco Finance PLC).", + "Many of these restrictions are subject to certain minimum thresholds and exceptions.", + "Financial covenants under the credit agreement include: (i) the quarterly maintenance of a debt/EBITDA leverage ratio, as defined in the credit agreement, of not greater than 3.25:1.00, (ii) a coverage ratio (EBITDA, as defined in the credit agreement/interest payable for the four consecutive fiscal quarters ended before the date of determination) of not less than 4.00:1.00.", + "The credit agreement governing the credit facility also contains customary provisions regarding events of default which could result in an acceleration or increase in amounts due, including (subject to certain materiality thresholds and grace periods) payment default, failure to comply with covenants, material inaccuracy of representation or warranty, bankruptcy or insolvency proceedings, change of control, certain judgments, ERISA matters, cross-default to other debt agreements, governmental action prohibiting or restricting the company or its subsidiaries in a manner that has a material adverse effect and failure of certain guaranty obligations.", + "The company is in compliance with all regulatory minimum net capital requirements.", + "The lenders (and their respective affiliates) may have provided, and may in the future provide, investment banking, cash management, underwriting, lending, commercial banking, leasing, foreign exchange, trust or other advisory services to the company a and its subsidiaries and affiliates.", + "These parties may have received, and may in the future receive, customary compensation forrthese services.", + "At December 31, 2017, the company maintains approximately $10.6 million in letters of credit from a variety of banks.", + "The letters of credit are generally one-year automatically-renewable facilities and are maintained for various commercial reasons.9.", + "SHARE CAPITAL The number of common shares and common share equivalents issued are represented in the table below:", + "|In millions|December 31, 2017|December 31, 2016|December 31, 2015|\n|Common shares issued|490.4|490.4|490.4|\n|Less: Treasury shares for which dividend and voting rights do not apply|-83.3|-86.6|-72.9|\n|Common shares outstanding|407.1|403.8|417.5|\n", + "The company did not purchase shares in the open market during the twelve months ended December 31, 2017 (year ended December 31, 2016: 18.1 million shares at a cost of $535.0 million).", + "Separately, an aggregate of 1.9 million shares were withheld on vesting events during the year ended December 31, 2017 to meet employees' withholding tax obligations (December 31, 2016: 1.5 million).", + "The fair value of these shares withheld at the respective withholding dates was $63.8 million (December 31, 2016: $42.0 million).", + "At December 31, 2017, approximately $1,643.0 million remained authorized under the company's share repurchase authorizations approved by the Board on October 11, 2013 and July 22, 2016 (December 31, 2016: $1,643.0 million).", + "Total treasury shares at December 31, 2017 were 92.4 million (December 31, 2016: 95.9 million), including 9.1 million unvested restricted stock awards (December 31, 2016: 9.3 million) for which dividend and voting rights apply.", + "The market price of common shares at the end of 2017 was $36.54.", + "The total market value of the company's 92.4 million treasury shares was $3.4 billion at December 31, 2017.", + "Movements in Treasury Shares comprise:" + ], + "question_id": "simplong-test-134", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Average expected option life (years) in the year with the most Risk-free interest rate (%)?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "also subject to financial covenants which require the Company to limit its consolidated total leverage ratio and to maintain a consolidated interest coverage ratio.", + "The most restrictive covenant is the consolidated total leverage ratio which is limited to 3.5.", + "The Company was in compliance with its debt covenants throughout the years ended December 31, 2013 and 2012.", + "On June 6, 2013, the Company completed a public offering of $800 million aggregate principal amount of 2.050% senior unsecured notes due October 1, 2018.", + "The notes were issued at 99.791% of their principal amount.", + "Net proceeds of $793.5 million were used to pay off a portion of the outstanding revolver balance under the 2012 Facility.", + "The notes bear interest at a fixed rate of 2.050% per year, payable semi-annually in arrears on April 1 and October 1 of each year, beginning October 1, 2013.", + "Roper may redeem some or all of the notes at any time or from time to time, at 100% of their principal amount plus a make-whole premium based on a spread to U. S. Treasury securities as described in the indenture relating to the notes.", + "On November 21, 2012, Roper completed a public offering of $400 million aggregate principal amount of 1.850% senior unsecured notes due November 15, 2017 and $500 million aggregate principal amount of 3.125% senior unsecured notes due November 15, 2022.", + "The notes bear interest at a fixed rate of 1.850% and 3.125% per year, respectively, payable semi-annually in arrears on May 15 and November 15 of each year, beginning May 15, 2013.", + "Roper may redeem some or all of the notes at any time or from time to time, at 100% of their principal amount plus a make-whole premium based on a spread to U. S. Treasury securities as described in the indenture relating to the notes.", + "In September 2009, the Company completed a public offering of $500 million aggregate principal amount of 6.25% senior unsecured notes due September 2019.", + "The notes bear interest at a fixed rate of 6.25% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning March 1, 2010.", + "Roper may redeem some of all of these notes at any time or from time to time, at 100% of their principal amount, plus a make\u0002whole premium based on a spread to U. S. Treasury securities.", + "The Company\u2019s senior notes are unsecured senior obligations of the Company and rank equally in right of payment with all of Roper\u2019s existing and future unsecured and unsubordinated indebtedness.", + "The notes are effectively subordinated to any of its existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness.", + "The notes are not guaranteed by any of Roper\u2019s subsidiaries and are effectively subordinated to all existing and future indebtedness and other liabilities of Roper\u2019s subsidiaries.", + "On August 15, 2013, $500 million of senior notes due 2013 matured, and were repaid using revolver borrowings from the 2012 Facility.", + "Other debt includes $8 million of senior subordinated convertible notes due 2034.", + "Total debt at December 31 consisted of the following (in thousands):", + "||2013|2012|\n|$1.50 billion revolving credit facility|$250,000|$100,000|\n|2013 Notes*|-|505,087|\n|2017 Notes|400,000|400,000|\n|2018 Notes|800,000|-|\n|2019 Notes|500,000|500,000|\n|2022 Notes|500,000|500,000|\n|Senior Subordinated Convertible Notes|8,270|11,594|\n|Other|6,582|5,441|\n|Total debt|2,464,852|2,022,122|\n|Less current portion|11,016|519,015|\n|Long-term debt|$2,453,836|$1,503,107|\n", + "*Shown net of fair value swap adjustment of $5,087.", + "represents the period of time that options granted are expected to be outstanding.", + "The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant.", + "The weighted-average fair value of options granted in 2013, 2012 and 2011 were calculated using the following weighted-average assumptions:", + "||2013|2012|2011|\n|Weighted-average fair value ($)|37.08|30.25|24.45|\n|Risk-free interest rate (%)|0.86|0.77|1.91|\n|Average expected option life (years)|5.19|5.24|5.34|\n|Expected volatility (%)|36.09|36.51|35.27|\n|Expected dividend yield (%)|0.56|0.58|0.60|\n", + "The following table summarizes the Company\u2019s activities with respect to its stock option plans for the years ended December 31, 2013 and 2012:", + "||Number of shares|Weighted-average exercise price per share|Weighted-average contractual term|Aggregate intrinsic value|\n|Outstanding at January 1, 2012|3,822,662|$ 50.44|||\n|Granted|538,100|95.27|||\n|Exercised|-1,389,069|40.46|||\n|Canceled|-53,498|70.01|||\n|Outstanding at December 31, 2012|2,918,195|63.15|6.52|$ 141,029,378|\n|Granted|601,350|117.78|||\n|Exercised|-424,945|56.48|||\n|Canceled|-106,164|98.74|||\n|Outstanding at December 31, 2013|2,988,436|74.00|6.22|$ 193,279,214|\n|Exercisable at December 31, 2013|1,859,725|$ 56.99|4.84|$ 151,929,651|\n", + "The following table summarizes information for stock options outstanding at December 31, 2013:", + "||Outstanding options|Exercisable options|\n|Exercise price|Number|Averageexerciseprice|Average remaininglife (years)|Number|Averageexerciseprice|\n|$ 14.09 - 28.17|157,638|$ 23.70|0.2|157,638|$ 23.70|\n|28.17 - 42.26|126,574|41.81|5.2|126.574|41.81|\n|42.27 - 56.34|1,113,058|53.79|4.4|1,113,058|53.79|\n|56.35 - 70.43|96,800|67.88|7.5|45,300|66.71|\n|70.44 - 84.52|453,392|74.63|7.1|278,034|75.21|\n|84.53 - 98.60|419,924|94.00|8.1|130,085|93.91|\n|98.61 - 112.69|48,700|103.41|8.6|9,036|103.64|\n|112.70 - 126.77|547,350|117.03|9.2|-|-|\n|126.78 - 140.86|25,000|131.54|9.6|-|-|\n|$ 14.09 - 140.86|2,988,436|$ 74.00|6.2|1,859,725|$ 56.99|\n", + "At December 31, 2013, there was $23.7 million of total unrecognized compensation expense related to nonvested options granted under the Company\u2019s share-based payment plans.", + "That cost is expected to be recognized over a weighted-average period of 2.0 years.", + "The total intrinsic value of options exercised in 2013, 2012 and 2011 was $28.8 million, $86.0 million and $41.2 million, respectively.", + "Cash received from option exercises under all plans in 2013 and 2012 was $24.0 million and $56.1 million, respectively", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):" + ], + "question_id": "simplong-test-135", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of all value that are in the range of 400 and 1000 to the sum of value, in 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U. S. Acquisitions\u2014During the year ended December 31, 2010, the Company acquired 548 towers through multiple acquisitions in the United States for an aggregate purchase price of $329.3 million and contingent consideration of approximately $4.6 million.", + "The acquisition of these towers is consistent with the Company\u2019s strategy to expand in selected geographic areas and have been accounted for as business combinations.", + "The following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition (in thousands):", + "||Purchase Price Allocation|\n|Non-current assets|$442|\n|Property and equipment|64,564|\n|Intangible assets -1|260,898|\n|Current liabilities|-360|\n|Long-term liabilities|-7,802|\n|Fair value of net assets acquired|$317,742|\n|Goodwill -2|16,131|\n", + "(1) Consists of customer relationships of approximately $205.4 million and network location intangibles of approximately $55.5 million.", + "The customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years.", + "(2) Goodwill is expected to be deductible for income tax purposes.", + "The goodwill was allocated to the domestic rental and management segment.", + "The allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed.", + "South Africa Acquisition\u2014On November 4, 2010, the Company entered into a definitive agreement with Cell C (Pty) Limited to purchase up to approximately 1,400 existing towers, and up to 1,800 additional towers that either are under construction or will be constructed, for an aggregate purchase price of up to approximately $430 million.", + "The Company anticipates closing the purchase of up to 1,400 existing towers during 2011, subject to customary closing conditions.", + "Other Transactions Coltel Transaction\u2014On September 3, 2010, the Company entered into a definitive agreement to purchase the exclusive use rights for towers in Colombia from Colombia Telecomunicaciones S. A. E. S. P. (\u201cColtel\u201d) until 2023, when ownership of the towers will transfer to the Company at no additional cost.", + "Pursuant to that agreement, the Company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $86.8 million during the year ended December 31, 2010.", + "The Company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011, subject to customary closing conditions.", + "The transaction has been accounted for as a capital lease, with the aggregated purchase price being allocated to property and equipment and non-current assets.", + "Joint Venture with MTN Group\u2014On December 6, 2010, the Company entered into a definitive agreement with MTN Group Limited (\u201cMTN Group\u201d) to establish a joint venture in Ghana (\u201cTowerCo Ghana\u201d).", + "TowerCo Ghana, which will be managed by the Company, will be owned by a holding company of which a wholly owned American Tower subsidiary will hold a 51% share and a wholly owned MTN Group subsidiary (\u201cMTN Ghana\u201d) will hold a 49% share.", + "The transaction involves the sale of up to 1,876 of MTN Ghana\u2019s existing sites to", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) its homes constructed in these markets and of the warranty claims received in these markets as well as testing of specific homes.", + "Through September 30, 2010, the Company has spent approximately $4.9 million to remediate these homes.", + "While the Company will seek reimbursement for these remediation costs from various sources, it has not recorded a receivable for potential recoveries as of September 30, 2010.", + "The Company is continuing its investigation to determine if there are additional homes with the Chinese Drywall in these markets, which if found, would likely require the Company to further increase its warranty reserve for this matter in the future.", + "The remaining costs accrued to complete this remediation are based on the Company\u2019s estimate of remaining repair costs.", + "If the actual costs to remediate the homes differ from the estimated costs, the Company may revise its warranty estimate.", + "As of September 30, 2010, the Company has been named as a defendant in several lawsuits in Louisiana and Florida pertaining to Chinese Drywall.", + "As these actions are still in their early stages, the Company is unable to express an opinion as to the amount of damages, if any, beyond what has been reserved for repair as discussed above.", + "Changes in the Company\u2019s warranty liability during fiscal 2010 and 2009 were as follows:", + "||September 30,|\n||2010|2009|\n||(In millions)|\n|Warranty liability, beginning of year|$59.6|$83.4|\n|Warranties issued|19.5|16.8|\n|Changes in liability for pre-existing warranties|-5.0|-16.0|\n|Settlements made|-27.9|-24.6|\n|Warranty liability, end of year|$46.2|$59.6|\n", + "Insurance and Legal Claims The Company has been named as defendant in various claims, complaints and other legal actions including construction defect claims on closed homes and other claims and lawsuits incurred in the ordinary course of business, including employment matters, personal injury claims, land development issues, contract disputes and claims related to its mortgage activities.", + "The Company has established reserves for these contingencies, based on the expected costs of the claims.", + "The Company\u2019s estimates of such reserves are based on the facts and circumstances of individual pending claims and historical data and trends, including costs relative to revenues, home closings and product types, and include estimates of the costs of construction defect claims incurred but not yet reported.", + "These reserve estimates are subject to ongoing revision as the circumstances of individual pending claims and historical data and trends change.", + "Adjustments to estimated reserves are recorded in the accounting period in which the change in estimate occurs.", + "The Company\u2019s liabilities for these items were $571.3 million and $534.0 million at September 30, 2010 and 2009, respectively, and are included in homebuilding accrued expenses and other liabilities in the consolidated balance sheets.", + "Related to the contingencies for construction defect claims and estimates of construction defect claims incurred but not yet reported, and other legal claims and lawsuits incurred in the ordinary course of business, the Company estimates and records insurance receivables for these matters under applicable insurance policies when recovery is probable.", + "Additionally, the Company may have the ability to recover a portion of its legal expenses from its subcontractors when the Company has been named as an additional insured on their insurance policies.", + "Estimates of the Company\u2019s insurance receivables related to these matters totaled $251.5 million and $234.6 million at September 30, 2010 and 2009, respectively, and are included in homebuilding other assets in the consolidated balance sheets.", + "Expenses related to these items were approximately $43.2 million, $58.3 million and $53.8 million in fiscal 2010, 2009 and 2008, respectively.", + "Management believes that, while the outcome of such contingencies cannot be predicted with certainty, the liabilities arising from these matters will not have a material adverse effect on the Company\u2019s consolidated", + "The average price of our net sales orders in 2011 was $214,000, an increase of 3% from the $207,000 average in 2010.", + "The largest percentage increases were in our Southwest and West regions and were primarily due to opening new communities and adjusting our product mix, with higher priced communities representing more of our sales.", + "Our annual sales order cancellation rate was 27% in fiscal 2011, compared to 26% in fiscal 2010.", + "These cancellation rates were above historical levels, reflecting the challenges in most of our homebuilding markets.", + "||Sales Order Backlog As of September 30,|\n||Homes in Backlog|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|606|472|28%|$147.6|$103.4|43%|$243,600|$219,100|11%|\n|Midwest|288|247|17%|80.6|70.1|15%|279,900|283,800|-1%|\n|Southeast|1,285|812|58%|246.9|162.5|52%|192,100|200,100|-4%|\n|South Central|1,710|1,691|1%|309.5|297.3|4%|181,000|175,800|3%|\n|Southwest|426|405|5%|76.6|71.9|7%|179,800|177,500|1%|\n|West|539|501|8%|175.0|145.6|20%|324,700|290,600|12%|\n||4,854|4,128|18%|$1,036.2|$850.8|22%|$213,500|$206,100|4%|\n", + "Sales Order Backlog Our homes in backlog at September 30, 2011 increased 18% from the prior year, with significant increases in our East, Midwest and Southeast regions.", + "The number of homes in backlog in these regions benefited from more active communities and improved third and fourth quarter sales as compared with the same periods of the prior year.", + "Homes Closed and Home Sales Revenue", + "||Homes Closed and Home Sales Revenue Fiscal Year Ended September 30,|\n||Homes Closed|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|1,932|2,114|-9%|$438.4|$492.2|-11%|$226,900|$232,800|-3%|\n|Midwest|964|1,187|-19%|261.5|330.9|-21%|271,300|278,800|-3%|\n|Southeast|3,546|4,049|-12%|691.8|745.2|-7%|195,100|184,000|6%|\n|South Central|6,150|8,046|-24%|1,080.0|1,378.8|-22%|175,600|171,400|2%|\n|Southwest|1,263|1,872|-33%|234.8|329.7|-29%|185,900|176,100|6%|\n|West|2,840|3,607|-21%|835.8|1,025.5|-18%|294,300|284,300|4%|\n||16,695|20,875|-20%|$3,542.3|$4,302.3|-18%|$212,200|$206,100|3%|\n", + "Home Sales Revenue Revenues from home sales decreased 18%, to $3,542.3 million (16,695 homes closed) in 2011 from $4,302.3 million (20,875 homes closed) in 2010.", + "The average selling price of homes closed during 2011 was $212,200, up 3% from the $206,100 average in 2010 which reflected a change in product mix rather than broad price appreciation.", + "During fiscal 2011, home sales revenues decreased in all of our market regions, resulting from decreases in the number of homes closed.", + "The number of homes closed in fiscal 2011 decreased 20% due to decreases in all of our market regions.", + "The federal homebuyer tax credit helped stimulate demand for new homes during fiscal 2010 and following its expiration we experienced a significant decline in demand for our homes that extended into fiscal 2011.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 75 Effective August 1, 2017, the Board of Directors authorized the repurchase of up to $500 million of the Company\u2019s debt securities effective through July 31, 2018.", + "All of the $500 million authorization was remaining at September 30, 2017.", + "Financial Services: The Company\u2019s mortgage subsidiary, DHI Mortgage, has a mortgage repurchase facility that is accounted for as a secured financing.", + "The mortgage repurchase facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to the counterparties against the transfer of funds by the counterparties, thereby becoming purchased loans.", + "DHI Mortgage then has the right and obligation to repurchase the purchased loans upon their sale to third-party purchasers in the secondary market or within specified time frames from 45 to 60 days in accordance with the terms of the mortgage repurchase facility.", + "In February 2017, the mortgage repurchase facility was amended to increase its capacity to $600 million and extend its maturity date to February 23, 2018.", + "The capacity of the facility increases, without requiring additional commitments, to $725 million for approximately 30 days at each quarter end and to $800 million for approximately 45 days at fiscal year end.", + "The capacity can also be increased to $1.0 billion subject to the availability of additional commitments.", + "As of September 30, 2017, $540.1 million of mortgage loans held for sale with a collateral value of $520.0 million were pledged under the mortgage repurchase facility.", + "As a result of advance paydowns totaling $100.0 million, DHI Mortgage had an obligation of $420.0 million outstanding under the mortgage repurchase facility at September 30, 2017 at a 3.3% annual interest rate.", + "The mortgage repurchase facility is not guaranteed by D. R. Horton, Inc. or any of the subsidiaries that guarantee the Company\u2019s homebuilding debt.", + "The facility contains financial covenants as to the mortgage subsidiary\u2019s minimum required tangible net worth, its maximum allowable ratio of debt to tangible net worth and its minimum required liquidity.", + "These covenants are measured and reported to the lenders monthly.", + "At September 30, 2017, DHI Mortgage was in compliance with all of the conditions and covenants of the mortgage repurchase facility.", + "In the past, DHI Mortgage has been able to renew or extend its mortgage credit facility at a sufficient capacity and on satisfactory terms prior to its maturity and obtain temporary additional commitments through amendments to the credit facility during periods of higher than normal volumes of mortgages held for sale.", + "The liquidity of the Company\u2019s financial services business depends upon its continued ability to renew and extend the mortgage repurchase facility or to obtain other additional financing in sufficient capacities.", + "NOTE E \u2013 CAPITALIZED INTEREST The following table summarizes the Company\u2019s interest costs incurred, capitalized and expensed during the years ended September 30, 2017, 2016 and 2015." + ], + "question_id": "simplong-test-136", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "How much of March 31, 2008 is there in total without Operating revenues and Operating income? (in Thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Union Pacific Corporation and Subsidiary Companies For purposes of this report, unless the context otherwise requires, all references herein to the \u201cCorporation\u201d, \u201cUPC\u201d, \u201cwe\u201d, \u201cus\u201d, and \u201cour\u201d mean Union Pacific Corporation and its subsidiaries, including Union Pacific Railroad Company, which will be separately referred to herein as \u201cUPRR\u201d or the \u201cRailroad\u201d.1.", + "Nature of Operations Operations and Segmentation \u2013 We are a Class I railroad that operates in the U. S. We have 31,953 route miles, linking Pacific Coast and Gulf Coast ports with the Midwest and eastern U. S. gateways and providing several corridors to key Mexican gateways.", + "We serve the western two-thirds of the country and maintain coordinated schedules with other rail carriers for the handling of freight to and from the Atlantic Coast, the Pacific Coast, the Southeast, the Southwest, Canada, and Mexico.", + "Export and import traffic is moved through Gulf Coast and Pacific Coast ports and across the Mexican and Canadian borders.", + "The Railroad, along with its subsidiaries and rail affiliates, is our one reportable operating segment.", + "Although revenues are analyzed by commodity group, we analyze the net financial results of the Railroad as one segment due to the integrated nature of our rail network.", + "The following table provides revenue by commodity group:", + "|Millions|2010|2009|2008|\n|Agricultural|$3,018|$2,666|$3,174|\n|Automotive|1,271|854|1,344|\n|Chemicals|2,425|2,102|2,494|\n|Energy|3,489|3,118|3,810|\n|Industrial Products|2,639|2,147|3,273|\n|Intermodal|3,227|2,486|3,023|\n|Total freight revenues|$16,069|$13,373|$17,118|\n|Other revenues|896|770|852|\n|Total operating revenues|$16,965|$14,143|$17,970|\n", + "Although our revenues are principally derived from customers domiciled in the U. S. , the ultimate points of origination or destination for some products transported are outside the U. S. Basis of Presentation \u2013 The Consolidated Financial Statements are presented in accordance with accounting principles generally accepted in the U. S. (GAAP) as codified in the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC).2.", + "Significant Accounting Policies Principles of Consolidation \u2013 The Consolidated Financial Statements include the accounts of Union Pacific Corporation and all of its subsidiaries.", + "Investments in affiliated companies (20% to 50% owned) are accounted for using the equity method of accounting.", + "All intercompany transactions are eliminated.", + "We currently have no less than majority-owned investments that require consolidation under variable interest entity requirements.", + "Cash and Cash Equivalents \u2013 Cash equivalents consist of investments with original maturities of three months or less.", + "Accounts Receivable \u2013 Accounts receivable includes receivables reduced by an allowance for doubtful accounts.", + "The allowance is based upon historical losses, credit worthiness of customers, and current economic conditions.", + "Receivables not expected to be collected in one year and the associated allowances are classified as other assets in our Consolidated Statements of Financial Position.", + "Investments \u2013 Investments represent our investments in affiliated companies (20% to 50% owned) that are accounted for under the equity method of accounting and investments in companies (less than 20% owned) accounted for under the cost method of accounting.", + "Arrangement Contains a Lease and SFAS No.13, Accounting for Leases.", + "Future commitments under operating and capital leases for continuing operations are:", + "| | Other Operating Leases| Purchase Power Agreement Operating Leases(a)(b)| Total Operating Leases|Capital Leases|\n| |(Millions of Dollars)|\n|2009|$26.1|$160.3|$186.4|$6.0|\n|2010|22.9|157.4|180.3|5.8|\n|2011|20.3|147.6|167.9|5.7|\n|2012|17.2|144.4|161.6|5.5|\n|2013|16.7|148.1|164.8|5.3|\n|Thereafter|38.1|2,322.0|2,360.1|51.5|\n|Total minimum obligation||||79.8|\n|Interest component of obligation||||-36.4|\n|Present value of minimum obligation||||$43.4|\n", + "(a) Amounts not included in purchase power agreement estimated future payments above.", + "(b) Purchase power agreement operating leases contractually expire through 2033.", + "WYCO \u2014 Xcel Energy has invested approximately $128 million as of Dec. 31 2008 for construction of WYCO\u2019s High Plains gas pipeline and the related Totem gas storage facilities.", + "The High Plains gas pipeline began operations in 2008 and the Totem gas storage facilities are expected to begin operations in 2009.", + "The gas pipeline and storage facilities will be leased under a FERC-approved agreement to Colorado Interstate Gas Company, a subsidiary of El Paso Corporation.", + "Technology Agreements \u2014 Xcel Energy has a contract that extends through 2015 with International Business Machines Corp. (IBM) for information technology services.", + "The contract is cancelable at Xcel Energy\u2019s option, although there are financial penalties for early termination.", + "In 2008, Xcel Energy paid IBM $110.8 million under the contract and $0.2 million for other project business.", + "The contract also has a committed minimum payment each year from 2009 through September 2015.", + "Payments under this obligation are $19.9 million, $19.6 million, $19.1 million, $18.9 million, $18.7 million and $32.5 million for 2009 to 2013 and thereafter, respectively.", + "On Aug. 1, 2008, Xcel Energy entered into a contract with Accenture for information technology services, which begins on Feb. 1, 2009 and extends through 2014.", + "The contract is cancelable at Xcel Energy\u2019s option, although there are financial penalties for early termination.", + "The contract also has a committed minimum payment each year from 2009 through 2014.", + "Payments under this obligation are $11.4 million, $11.6 million, $11.6 million, $11.8 million, $12.0 million and $12.3 million for 2009 to 2013 and thereafter, respectively.", + "Environmental Contingencies Xcel Energy and its subsidiaries have been, or are currently involved with, the cleanup of contamination from certain hazardous substances at several sites.", + "In many situations, the subsidiary involved believes it will recover some portion of these costs through insurance claims.", + "Additionally, where applicable, the subsidiary involved is pursuing, or intends to pursue, recovery from other potentially responsible parties (PRPs) and through the rate regulatory process.", + "New and changing federal and state environmental mandates can also create added financial liabilities for Xcel Energy and its subsidiaries, which are normally recovered through the rate regulatory process.", + "To the extent any costs are not recovered through the options listed above, Xcel Energy would be required to recognize an expense.", + "Site Remediation \u2014 Xcel Energy must pay all or a portion of the cost to remediate sites where past activities of its subsidiaries or other parties have caused environmental contamination.", + "Environmental contingencies could arise from various situations, including sites of former MGPs operated by Xcel Energy subsidiaries, predecessors, or other entities; and third-party sites, such as landfills, to which Xcel Energy is alleged to be a PRP that sent hazardous materials and wastes.", + "At Dec. 31, 2008, the liability for the cost of remediating these sites was estimated to be $71.3 million, of which $1.5 million was considered to be a current liability.", + "Accordingly, the recorded amounts of estimated future removal costs are considered regulatory liabilities under SFAS No.71.", + "Removal costs by entity are as follows at Dec. 31:", + "| | 2008| 2007|\n| | (Millions of Dollars) |\n|NSP-Minnesota|$354|$342|\n|NSP-Wisconsin|96|94|\n|PSCo|379|374|\n|SPS|96|96|\n|Total Xcel Energy|$925|$906|\n", + "Nuclear Insurance NSP-Minnesota\u2019s public liability for claims resulting from any nuclear incident is limited to $12.5 billion under the Price-Anderson amendment to the Atomic Energy Act of 1954, as amended.", + "NSP-Minnesota has secured $300 million of coverage for its public liability exposure with a pool of insurance companies.", + "The remaining $12.2 billion of exposure is funded by the Secondary Financial Protection Program, available from assessments by the federal government in case of a nuclear accident.", + "NSP-Minnesota is subject to assessments of up to $117.5 million per reactor per accident for each of its three licensed reactors, to be applied for public liability arising from a nuclear incident at any licensed nuclear facility in the United States.", + "The maximum funding requirement is $17.5 million per reactor during any one year.", + "These maximum assessment amounts are both subject to inflation adjustment by the NRC and state premium taxes.", + "The NRC\u2019s last adjustment was effective Oct. 29, 2008.", + "The next adjustment is due on or before Oct. 29, 2013.", + "NSP-Minnesota purchases insurance for property damage and site decontamination cleanup costs from Nuclear Electric Insurance Ltd. (NEIL).", + "The coverage limits are $2.3 billion for each of NSP-Minnesota\u2019s two nuclear plant sites.", + "NEIL also provides business interruption insurance coverage, including the cost of replacement power obtained during certain prolonged accidental outages of nuclear generating units.", + "Premiums are expensed over the policy term.", + "All companies insured with NEIL are subject to retroactive premium adjustments if losses exceed accumulated reserve funds.", + "Capital has been accumulated in the reserve funds of NEIL to the extent that NSP-Minnesota would have no exposure for retroactive premium assessments in case of a single incident under the business interruption and the property damage insurance coverage.", + "However, in each calendar year, NSP-Minnesota could be subject to maximum assessments of approximately $16.1 million for business interruption insurance and $29.7 million for property damage insurance if losses exceed accumulated reserve funds.", + "Legal Contingencies Lawsuits and claims arise in the normal course of business.", + "Management, after consultation with legal counsel, has recorded an estimate of the probable cost of settlement or other disposition of them.", + "The ultimate outcome of these matters cannot presently be determined.", + "Accordingly, the ultimate resolution of these matters could have a material adverse effect on Xcel Energy\u2019s financial position and results of operations.", + "Gas Trading Litigation e prime is a wholly owned subsidiary of Xcel Energy.", + "Among other things, e prime was in the business of natural gas trading and marketing.", + "e prime has not engaged in natural gas trading or marketing activities since 2003.", + "Twelve lawsuits have been commenced against e prime and Xcel Energy (and NSP-Wisconsin, in one instance), alleging fraud and anticompetitive activities in conspiring to restrain the trade of natural gas and manipulate natural gas prices.", + "Xcel Energy, e prime, and NSP-Wisconsin deny these allegations and will vigorously defend against these lawsuits, including seeking dismissal and summary judgment.", + "The initial gas-trading lawsuit, a purported class action brought by wholesale natural gas purchasers, was filed in November 2003 in the United States District Court in the Eastern District of California.", + "e prime is one of several defendants named in the complaint.", + "This case is captioned Texas-Ohio Energy vs. CenterPoint Energy et al.", + "The other eleven cases arising out of the same or similar set of facts are captioned Fairhaven Power Company vs. EnCana Corporation et al.", + "; Ableman Art Glass vs. EnCana Corporation et al.", + "; Utility Savings and Refund Services LLP vs. Reliant Energy Services Inc. et al.", + "; Sinclair Oil Corporation vs. e prime and Xcel Energy Inc. ; Ever-Bloom Inc. vs. Xcel Energy Inc. and e prime et al.", + "; Learjet, Inc. vs. e prime and Xcel Energy Inc et al.", + "; J. P. Morgan Trust Company vs. e prime and Xcel Energy Inc. et al.", + "; Breckenridge Brewery vs. e prime and Xcel Energy Inc. et al.", + "; Missouri Public Service Commission vs. e", + "Revenues from operating segments not included above are below the necessary quantitative thresholds and are therefore included in the all other category.", + "Those primarily include steam revenue, appliance repair services, nonutility real estate activities, revenues associated with processing solid waste into refuse-derived fuel and investments in rental housing projects that qualify for low-income housing tax credits.", + "To report income from continuing operations for regulated electric and regulated natural gas utility segments, Xcel Energy must assign or allocate all costs and certain other income.", + "In general, costs are: ?", + "Directly assigned wherever applicable; ?", + "Allocated based on cost causation allocators wherever applicable; and ?", + "Allocated based on a general allocator for all other costs not assigned by the above two methods.", + "The accounting policies of the segments are the same as those described in Note 1 to the consolidated financial statements.", + "| | Regulated Electric| Regulated Natural Gas|All Other|Reconciling Eliminations| Consolidated Total|\n| | (Thousands of Dollars) |\n| 2008||||||\n|Operating revenues from external customers|$8,682,993|$2,442,988|$77,175|$\u2014|$11,203,156|\n|Intersegment revenues|973|6,793|\u2014|-7,766|\u2014|\n|Total revenues|$8,683,966|$2,449,781|$77,175|$-7,766|$11,203,156|\n|Depreciation and amortization|$715,695|$99,306|$13,378|$\u2014|$828,379|\n|Interest charges and financing costs|352,083|45,819|131,371|-15,392|513,881|\n|Income tax expense (benefit)|345,543|73,647|-80,504|\u2014|338,686|\n|Income (loss) from continuing operations|$552,300|$129,298|$27,346|$-63,224|$645,720|\n| 2007||||||\n|Operating revenues from external customers|$7,847,992|$2,111,732|$74,446|$\u2014|$10,034,170|\n|Intersegment revenues|1,000|16,680|\u2014|-17,680|\u2014|\n|Total revenues|$7,848,992|$2,128,412|$74,446|$-17,680|$10,034,170|\n|Depreciation and amortization|$695,571|$96,323|$13,837|$\u2014|$805,731|\n|Interest charges and financing costs|318,937|43,985|180,757|-14,834|528,845|\n|Income tax expense (benefit)|343,184|50,150|-98,850|\u2014|294,484|\n|Income (loss) from continuing operations|$554,670|$108,054|$-22,583|$-64,242|$575,899|\n| 2006||||||\n|Operating revenues from external customers|$7,608,018|$2,155,999|$76,287|$\u2014|$9,840,304|\n|Intersegment revenues|820|12,296|\u2014|-13,116|\u2014|\n|Total revenues|$7,608,838|$2,168,295|$76,287|$-13,116|$9,840,304|\n|Depreciation and amortization|$695,321|$91,965|$15,612|$\u2014|$802,898|\n|Interest charges and financing costs|302,114|44,965|133,558|-24,605|456,032|\n|Income tax expense (benefit)|283,552|37,656|-139,797|\u2014|181,411|\n|Income (loss) from continuing operations|$503,119|$70,609|$51,570|$-56,617|$568,681|\n", + "21.", + "Summarized Quarterly Financial Data (Unaudited) Due to the seasonality of Xcel Energy\u2019s electric and natural gas sales, such interim results are not necessarily an appropriate base from which to project annual results.", + "Summarized quarterly unaudited financial data is as follows:", + "| | Quarter Ended|\n| |March 31, 2008| June 30, 2008| Sept. 30, 2008| Dec. 31, 2008|\n| | (Thousands of Dollars, except per share amounts) |\n|Operating revenues|$3,028,388|$2,615,515|$2,851,680|$2,707,573|\n|Operating income|330,118|259,836|447,994|352,843|\n|Income from continuing operations|153,994|105,473|222,695|163,558|\n|Discontinued operations \u2014 income (loss)|-877|99|94|518|\n|Net income|153,117|105,572|222,789|164,076|\n|Earnings available to common shareholders|152,057|104,512|221,729|163,015|\n|Earnings per share total \u2014 basic|$0.35|$0.24|$0.51|$0.36|\n|Earnings per share total \u2014 diluted|0.35|0.24|0.51|0.36|\n", + "Part IV Item 15 \u2014 Exhibits, Financial Statement Schedules 1.", + "Consolidated Financial Statements: Management Report on Internal Controls \u2014 For the year ended Dec. 31, 2008.", + "Reports of Independent Registered Public Accounting Firm \u2014 For the years ended Dec. 31, 2008, 2007 and 2006.", + "Consolidated Statements of Income \u2014 For the three years ended Dec. 31, 2008, 2007 and 2006.", + "Consolidated Statements of Cash Flows \u2014 For the three years ended Dec. 31, 2008, 2007 and 2006.", + "Consolidated Balance Sheets \u2014 As of Dec. 31, 2008 and 2007.2.", + "Schedule I \u2014 Condensed Financial Information of Registrant.", + "Schedule II \u2014 Valuation and Qualifying Accounts and Reserves for the years ended Dec. 31, 2008, 2007 and 2006.3.", + "Exhibits * Indicates incorporation by reference + Executive Compensation Arrangements and Benefit Plans Covering Executive Officers and Directors", + "|1.|Consolidated Financial Statements:|\n||Management Report on Internal Controls \u2014 For the year ended Dec. 31, 2008.|\n||Reports of Independent Registered Public Accounting Firm \u2014 For the years ended Dec. 31, 2008, 2007 and 2006.|\n||Consolidated Statements of Income \u2014 For the three years ended Dec. 31, 2008, 2007 and 2006.|\n||Consolidated Statements of Cash Flows \u2014 For the three years ended Dec. 31, 2008, 2007 and 2006.|\n||Consolidated Balance Sheets \u2014 As of Dec. 31, 2008 and 2007.|\n|2.|Schedule I \u2014 Condensed Financial Information of Registrant.|\n||Schedule II \u2014 Valuation and Qualifying Accounts and Reserves for the years ended Dec. 31, 2008, 2007 and 2006.|\n|3.|Exhibits|\n", + "Xcel Energy" + ], + "question_id": "simplong-test-137", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Net sales of 2012, Commercial paper of 2010 Fair Value, and U.S. government and agency securities of 2011 Fair Value ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Aeronautics\u2019 operating profit for 2012 increased $69 million, or 4%, compared to 2011.", + "The increase was attributable to higher operating profit of approximately $105 million from C-130 programs due to an increase in risk retirements; about $50 million from F-16 programs due to higher aircraft deliveries partially offset by a decline in risk retirements; approximately $50 million from F-35 production contracts due to increased production volume and risk retirements; and about $50 million from the completion of purchased intangible asset amortization on certain F-16 contracts.", + "Partially offsetting the increases was lower operating profit of about $90 million from the F-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012; approximately $50 million from decreased production volume and risk retirements on the F-22 program partially offset by a resolution of a contractual matter in the second quarter of 2012; and approximately $45 million primarily due to a decrease in risk retirements on other sustainment activities partially offset by various other Aeronautics programs due to increased risk retirements and volume.", + "Operating profit for C-5 programs was comparable to 2011.", + "Adjustments not related to volume, including net profit booking rate adjustments and other matters described above, were approximately $30 million lower for 2012 compared to 2011.", + "Backlog Backlog decreased in 2013 compared to 2012 mainly due to lower orders on F-16, C-5, and C-130 programs, partially offset by higher orders on the F-35 program.", + "Backlog decreased in 2012 compared to 2011 mainly due to lower orders on F-35 and C-130 programs, partially offset by higher orders on F-16 programs.", + "Trends We expect Aeronautics\u2019 net sales to increase in 2014 in the mid-single digit percentage range as compared to 2013 primarily due to an increase in net sales from F-35 production contracts.", + "Operating profit is expected to increase slightly from 2013, resulting in a slight decrease in operating margins between the years due to program mix.", + "Information Systems & Global Solutions Our IS&GS business segment provides advanced technology systems and expertise, integrated information technology solutions, and management services across a broad spectrum of applications for civil, defense, intelligence, and other government customers.", + "IS&GS has a portfolio of many smaller contracts as compared to our other business segments.", + "IS&GS has been impacted by the continued downturn in federal information technology budgets.", + "IS&GS\u2019 operating results included the following (in millions):", + "||2013|2012|2011|\n|Net sales|$8,367|$8,846|$9,381|\n|Operating profit|759|808|874|\n|Operating margins|9.1%|9.1%|9.3%|\n|Backlog at year-end|8,300|8,700|9,300|\n", + "2013 compared to 2012 IS&GS\u2019 net sales decreased $479 million, or 5%, for 2013 compared to 2012.", + "The decrease was attributable to lower net sales of about $495 million due to decreased volume on various programs (command and control programs for classified customers, NGI, and ERAM programs); and approximately $320 million due to the completion of certain programs (such as Total Information Processing Support Services, the Transportation Worker Identification Credential (TWIC), and ODIN).", + "The decrease was partially offset by higher net sales of about $340 million due to the start-up of certain programs (such as the DISA GSM-O and the National Science Foundation Antarctic Support).", + "IS&GS\u2019 operating profit decreased $49 million, or 6%, for 2013 compared to 2012.", + "The decrease was primarily attributable to lower operating profit of about $55 million due to certain programs nearing the end of their lifecycles, partially offset by higher operating profit of approximately $15 million due to the start-up of certain programs.", + "Adjustments not related to volume, including net profit booking rate adjustments and other matters, were comparable for 2013 compared to 2012.2012 compared to 2011 IS&GS\u2019 net sales for 2012 decreased $535 million, or 6%, compared to 2011.", + "The decrease was attributable to lower net sales of approximately $485 million due to the substantial completion of various programs during 2011 (primarily JTRS; ODIN; and U. K. Census); and about $255 million due to lower volume on numerous other programs (primarily Hanford;", + "The table below provides information on the location and pretax gain or loss amounts for derivatives that are: (i) designated in a fair value hedging relationship, (ii) designated in a cash flow hedging relationship, (iii) designated in a foreign currency net investment hedging relationship and (iv) not designated in a hedging relationship", + "|Years Ended December 31|2011|2010|\n|Derivatives designated in fair value hedging relationships|||\n|Interest rate swap contracts|||\n|Amount of gain recognized inOther (income) expense, neton derivatives|$-196|$-23|\n|Amount of loss recognized inOther (income) expense, neton hedged item|196|23|\n|Derivatives designated in foreign currency cash flow hedging relationships|||\n|Foreign exchange contracts|||\n|Amount of loss reclassified fromAOCItoSales|85|7|\n|Amount of loss (gain) recognized inOCIon derivatives|143|-103|\n|Derivatives designated in foreign currency net investment hedging relationships|||\n|Foreign exchange contracts|||\n|Amount of gain recognized inOther (income) expense, netonderivatives(1)|-10|-1|\n|Amount of loss recognized inOCIon deriviatives|122|24|\n|Derivatives not designated in a hedging relationship|||\n|Foreign exchange contracts|||\n|Amount of gain recognized inOther (income) expense, netonderivatives(2)|-113|-33|\n|Amount of gain recognized inSales|\u2014|-81|\n", + "(1) There was no ineffectiveness on the hedge.", + "Represents the amount excluded from hedge effectiveness testing.", + "(2) These derivative contracts mitigate changes in the value of remeasured foreign currency denominated monetary assets and liabilities attributable to changes in foreign currency exchange rates.", + "At December 31, 2011, the Company estimates $18 million of pretax net unrealized losses on derivatives maturing within the next 12 months that hedge foreign currency denominated sales over that same period will be reclassified from AOCI to Sales.", + "The amount ultimately reclassified to Sales may differ as foreign exchange rates change.", + "Realized gains and losses are ultimately determined by actual exchange rates at maturity.", + "Investments in Debt and Equity Securities Information on available-for-sale investments at December 31 is as follows:", + "|| 2011|2010|\n|||| Gross Unrealized|||Gross Unrealized|\n|| Fair Value| Amortized Cost| Gains| Losses|Fair Value|Amortized Cost|Gains|Losses|\n|Corporate notes and bonds|$2,032|$2,024|$16|$-8|$1,133|$1,124|$12|$-3|\n|Commercial paper|1,029|1,029|\u2014|\u2014|1,046|1,046|\u2014|\u2014|\n|U.S. government and agency securities|1,021|1,018|3|\u2014|500|501|1|-2|\n|Municipal securities|\u2014|\u2014|\u2014|\u2014|361|359|4|-2|\n|Asset-backed securities|292|292|1|-1|171|170|1|\u2014|\n|Mortgage-backed securities|223|223|1|-1|112|108|5|-1|\n|Foreign government bonds|72|72|\u2014|\u2014|10|10|\u2014|\u2014|\n|Other debt securities|3|1|2|\u2014|3|1|2|\u2014|\n|Equity securities|397|383|14|\u2014|321|295|34|-8|\n||$5,069|$5,042|$37|$-10|$3,657|$3,614|$59|$-16|\n", + "Available-for-sale debt securities included in Short-term investments totaled $1.4 billion at December 31, 2011.", + "Of the remaining debt securities, $2.9 billion mature within five years.", + "At December 31, 2011, there were no debt securities pledged as collateral.", + "The table below provides a summary of the changes in fair value of all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):", + "|Years Ended December 31|2011|2010|\n|Beginning balance January 1|$13|$72|\n|Sales|-13|-67|\n|Total realized and unrealized gains (losses)Included in:|||\n|Earnings-1|\u2014|18|\n|Comprehensive income|\u2014|-10|\n|Ending balance December 31|$\u2014|$13|\n|Losses recorded in earnings for Level 3 assets still held atDecember 31|$\u2014|$\u2014|\n", + "(1) Amounts are recorded in Other (income) expense, net.", + "Financial Instruments Not Measured at Fair Value Some of the Company\u2019s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature, such as cash and cash equivalents, receivables and payables.", + "The estimated fair value of loans payable and long-term debt (including current portion) at December 31, 2011 was $19.5 billion compared with a carrying value of $17.5 billion and at December 31, 2010 was $18.7 billion compared with a carrying value of $17.9 billion.", + "Fair value was estimated using quoted dealer prices.", + "Concentrations of Credit Risk On an ongoing basis, the Company monitors concentrations of credit risk associated with corporate and government issuers of securities and financial institutions with which it conducts business.", + "Credit exposure limits are established to limit a concentration with any single issuer or institution.", + "Cash and investments are placed in instruments that meet high credit quality standards, as specified in the Company\u2019s investment policy guidelines.", + "Approximately three-quarters of the Company\u2019s cash and cash equivalents are invested in three highly rated money market funds.", + "The majority of the Company\u2019s accounts receivable arise from product sales in the United States and Europe and are primarily due from drug wholesalers and retailers, hospitals, government agencies, managed health care providers and pharmacy benefit managers.", + "The Company monitors the financial performance and creditworthiness of its customers so that it can properly assess and respond to changes in their credit profile.", + "The Company also continues to monitor economic conditions, including the volatility associated with international sovereign economies, and associated impacts on the financial markets and its business, taking into consideration the global economic downturn and the sovereign debt issues in certain European countries.", + "The Company continues to monitor the credit and economic conditions within Greece, Spain, Italy and Portugal, among other members of the EU.", + "These deteriorating economic conditions, as well as inherent variability of timing of cash receipts, have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect accounts receivable outstanding.", + "As such, time value of money discounts have been recorded for those customers for which collection of accounts receivable is expected to be in excess of one year.", + "The Company does not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on its financial position, liquidity or results of operations.", + "As of December 31, 2011, the Company\u2019s accounts receivable in Greece, Italy, Spain and Portugal totaled approximately $1.6 billion.", + "Of this amount, hospital and public sector receivables were approximately $1.1 billion in the aggregate, of which approximately 8%, 36%, 47% and 9% related to Greece, Italy, Spain and Portugal, respectively.", + "As of December 31, 2011, the Company\u2019s total accounts receivable outstanding for more than one year were approximately $400 million, of which approximately 90% related to accounts receivable in Greece, Italy, Spain and Portugal, mostly comprised of hospital and public sector receivables.", + "Other Animal Health Animal Health includes pharmaceutical and vaccine products for the prevention, treatment and control of disease in all major farm and companion animal species.", + "Animal Health sales are affected by intense competition and the frequent introduction of generic products.", + "Global sales of Animal Health products grew 11% in 2011 to $3.3 billion from $2.9 billion in 2010.", + "Foreign exchange favorably affected global sales performance by 3% in 2011.", + "The increase in sales was driven by positive performance among cattle, swine, poultry and companion animal products.", + "Global sales of Animal Health products were $494 million for the post-Merger period in 2009.", + "Consumer Care Consumer Care products include over-the-counter, foot care and sun care products such as Claritin non-drowsy antihistamines; Dr. Scholl\u2019s foot care products; Coppertone sun care products; and MiraLAX, a treatment for occasional constipation.", + "Global sales of Consumer Care products increased 1% in 2011 to $1.8 billion reflecting strong performance of Coppertone, offset by declines in Dr. Scholl\u2019s and Claritin.", + "Consumer Care product sales were $149 million for the post-Merger period in 2009.", + "Consumer Care product sales are affected by competition and consumer spending patterns.", + "Alliances AstraZeneca has an option to buy Merck\u2019s interest in a subsidiary, and through it, Merck\u2019s interest in Nexium and Prilosec, exercisable in 2012, and the Company believes that it is likely that AstraZeneca will exercise that option (see \u201cSelected Joint Venture and Affiliate Information\u201d below).", + "If AstraZeneca exercises its option, the Company will no longer record equity income from AZLP and supply sales to AZLP will decline substantially." + ], + "question_id": "simplong-test-138", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average value of the amount for Europe, the amount for Middle East and Africa , the amount for Asia-Pacific in 2017 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "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\u2019 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\u2019 operating results included the following (in millions):", + "||2015|2014|2013|\n|Net sales|$15,570|$14,920|$14,123|\n|Operating profit|1,681|1,649|1,612|\n|Operating margins|10.8%|11.1%|11.4%|\n|Backlog at year-end|$31,800|$27,600|$28,000|\n", + "2015 compared to 2014 Aeronautics\u2019 net sales in 2015 increased $650 million, or 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\u2019 operating profit in 2015 increased $32 million, or 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\u2019 net sales increased $797 million, or 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\u2019 operating profit increased $37 million, or 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.", + "The completion of the Transactions contemplated by the Business Combination Agreement will have a material effect on our future results of operations and financial position.", + "Our Business Omnicom, a strategic holding company, was formed in 1986 by the merger of several leading advertising, marketing and corporate communications companies.", + "We are a leading global advertising, marketing and corporate communications company and we operate in a highly competitive industry.", + "The proliferation of media channels, including the rapid development and integration of interactive technologies and mediums, has fragmented consumer audiences targeted by our clients.", + "These developments make it more complex for marketers to reach their target audiences in a cost-effective way, causing them to turn to marketing service providers such as Omnicom for a customized mix of advertising and marketing communications services designed to make the best use of their total marketing expenditures.", + "Our agencies operate in all major markets around the world and provide a comprehensive range of services, which we group into four fundamental disciplines: advertising, customer relationship management, or CRM, public relations and specialty communications.", + "The services included in these disciplines are:", + "|advertising|investor relations|\n|brand consultancy|marketing research|\n|corporate social responsibility consulting|media planning and buying|\n|crisis communications|mobile marketing|\n|custom publishing|multi-cultural marketing|\n|data analytics|non-profit marketing|\n|database management|organizational communications|\n|direct marketing|package design|\n|entertainment marketing|product placement|\n|environmental design|promotional marketing|\n|experiential marketing|public affairs|\n|field marketing|public relations|\n|financial/corporate business-to-business advertising|reputation consulting|\n|graphic arts|retail marketing|\n|healthcare communications|search engine marketing|\n|instore design|social media marketing|\n|interactive marketing|sports and event marketing|\n", + "Although the medium used to reach a client\u2019s target audience may differ across each of these disciplines, we develop and deliver the marketing message in a similar way by providing client-specific consulting services.", + "Our business model was built and continues to evolve around our clients.", + "While our agencies operate under different names and frame their ideas in different disciplines, we organize our services around our clients.", + "The fundamental premise of our business is to deliver our services and allocate our resources based on the specific requirements of our clients.", + "As clients increase their demands for marketing effectiveness and efficiency, they have tended to consolidate their business with larger, multi-disciplinary agencies or integrated groups of agencies.", + "Accordingly, our business model demands that multiple agencies within Omnicom collaborate in formal and informal virtual networks that cut across internal organizational structures to execute against our clients\u2019 specific marketing requirements.", + "We believe that this organizational philosophy, and our ability to execute it, differentiates us from our competitors.", + "Our agency networks and our virtual networks provide us with the ability to integrate services across all disciplines and geographies.", + "This means that the delivery of our services can, and does, take place across agencies, networks and geographic regions simultaneously.", + "Further, we believe that our virtual network strategy facilitates better integration of services required by the demands of the marketplace for advertising and marketing communications services.", + "Our over-arching business strategy is to continue to use our virtual networks to grow our business relationships with our clients.", + "The various components of our business and material factors that affected us in 2013 are discussed in Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d or MD&A, of this", + "The impact of changes in foreign exchange rates increased revenue 0.6%, or $85.1 million, primarily resulting from the strengthening of the Euro and British Pound, against the U. S. Dollar, partially offset by the weakening of the Brazilian Real, Russian Ruble and Australian Dollar against the U. S. Dollar.", + "The components of revenue change in the United States (\u201cDomestic\u201d) and the remainder of the world (\u201cInternational\u201d) were (in millions):", + "||Total|Domestic|International|\n||$|%|$|%|$|%|\n|December 31, 2017|$15,273.6||$8,196.9||$7,076.7||\n|Components of revenue change:|||||||\n|Foreign exchange rate impact|85.1|0.6%|\u2014|\u2014%|85.1|1.2%|\n|Acquisition revenue, net of disposition revenue|-326.6|-2.1%|-108.7|-1.3%|-217.9|-3.1%|\n|Organic growth|404.2|2.6%|58.0|0.7%|346.2|4.9%|\n|Impact of adoption of ASC 606|-146.1|-1.0%|-146.4|-1.8%|0.3|\u2014%|\n|December 31, 2018|$15,290.2|0.1%|$7,999.8|-2.4%|$7,290.4|3.0%|\n", + "The components and percentages are calculated as follows: ?", + "The foreign exchange impact is calculated by translating the current period\u2019s local currency revenue using the prior period average exchange rates to derive current period constant currency revenue (in this case $15,205.1 million for the Total column).", + "The foreign exchange impact is the difference between the current period revenue in U. S. Dollars and the current period constant currency revenue ($15,290.2 million less $15,205.1 million for the Total column). ?", + "Acquisition revenue is calculated as if the acquisition occurred twelve months prior to the acquisition date by aggregating the comparable prior period revenue of acquisitions through the acquisition date.", + "As a result, acquisition revenue excludes the positive or negative difference between our current period revenue subsequent to the acquisition date and the comparable prior period revenue and the positive or negative growth after the acquisition is attributed to organic growth.", + "Disposition revenue is calculated as if the disposition occurred twelve months prior to the disposition date by aggregating the comparable prior period revenue of dispositions through the disposition date.", + "The acquisition revenue and disposition revenue amounts are netted in the table. ?", + "Organic growth is calculated by subtracting the foreign exchange rate impact, and the acquisition revenue, net of disposition revenue components from total revenue growth, excluding the impact of the adoption of ASC 606. ?", + "The impact of the adoption of ASC 606 is discussed above in the \u201cAccounting Changes\u201d section. ?", + "The percentage change is calculated by dividing the individual component amount by the prior period revenue base of that component ($15,273.6 million for the Total column).", + "Changes in the value of foreign currencies against the U. S. Dollar affect our results of operations and financial position.", + "For the most part, because the revenue and expense of our foreign operations are both denominated in the same local currency, the economic impact on operating margin is minimized.", + "Assuming exchange rates at February 11, 2019 remain unchanged, we estimate the impact of changes in foreign exchange rates to reduce revenue in the first half of 2019 by approximately 2.5% to 3% and 1.5% for the full year.", + "Revenue and organic growth, expressed as a percentage and excluding the impact of ASC 606, in our principal regional markets were (in millions):", + "||2018|2017|$ Change|% Organic Growth|\n|Americas:|||||\n|North America|$8,442.5|$8,686.0|$-243.5|0.4%|\n|Latin America|457.5|494.8|-37.3|2.0%|\n|EMEA:|||||\n|Europe|4,375.4|4,127.9|247.5|5.7%|\n|Middle East and Africa|304.4|314.6|-10.2|-2.9%|\n|Asia-Pacific|1,710.4|1,650.3|60.1|7.9%|\n||$15,290.2|$15,273.6|$16.6|2.6%|\n", + "OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9.", + "Equity Method Investments Income from our equity method investments was $8.9 million, $3.5 million and $5.4 million in 2018, 2017 and 2016, respectively.", + "Our proportionate share in their net assets at December 31, 2018 and 2017 was $42.9 million and $40.7 million, respectively.", + "Our equity method investments are not material to our results of operations or financial position; therefore, summarized financial information is not required to be presented.10.", + "Share-Based Compensation Plans Share-based incentive awards are granted to employees under the 2013 Incentive Award Plan, or the 2013 Plan, which is administered by the Compensation Committee of the Board of Directors, or Compensation Committee.", + "Awards include stock options, restricted stock and other stock awards.", + "The maximum number of shares of common stock that can be granted under the 2013 Plan is 33 million shares plus any shares awarded under the 2013 Plan and any prior plan that have been forfeited or have expired.", + "Stock option awards reduce the number of shares available for grant on a one-for-one basis and all other awards reduce the number of shares available for grant by 3.5 shares for each share awarded.", + "The terms of each award and the exercise date are determined by the Compensation Committee.", + "The 2013 Plan does not permit the holder of an award to elect cash settlement under any circumstances.", + "At December 31, 2018, there were 26,731,624 shares available for grant under the 2013 Plan.", + "If all shares available for grant were for awards other than stock options, shares available for grant would be 7,637,607.", + "Share-based compensation expense was $70.5 million, $80.2 million and $93.4 million in 2018, 2017 and 2016, respectively.", + "At December 31, 2018, unamortized share-based compensation that will be expensed over the next five years is $160.7 million.", + "We record a deferred tax asset for the share-based compensation expense recognized for financial reporting purposes that has not been deducted on our income tax return.", + "Beginning in 2017, excess tax benefits and deficiencies related to share-based compensation are recorded as compensation expense in results of operations upon vesting of restricted stock awards or exercise of stock options.", + "Excess tax benefits and deficiencies represent the difference between the actual compensation deduction for tax purposes, which is calculated as the difference between the grant date price of the award and the price of our common stock on the vesting or exercise date.", + "In 2018 and 2017 we recognized excess tax benefits of $7.4 million and $20.8 million, respectively.", + "Stock Options The exercise price of stock option awards cannot be less than 100% of the market price of our common stock on the grant date.", + "The 2017 option awards vest 100% three years from grant date and have a maximum contractual life of six years.", + "All prior option awards have a maximum contractual life of 10 years.", + "Stock option activity for the three years ended December 31, 2018 was:" + ], + "question_id": "simplong-test-139", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average amount of Total stock-based compensation for Three Months Ended Dec 31,2009,Three Months Ended Mar 31,2010,Three Months Ended Jun 30,2010? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "(2) Includes stock-based compensation expense and asset acquisition related write-offs as follows:", + "||Three Months Ended|\n||Mar 29,2009|Jun 28,2009|Sept 30,2009|Dec 31,2009|Mar 31,2010|Jun 30,2010|Sept 30,2010|Dec 31,2010|\n||($ amounts in 000's)|\n|Cost of product revenue|24|27|25|26|24|26|26|25|\n|Cost of services revenue|124|172|169|193|208|234|242|245|\n|Research and development|378|498|516|571|554|587|600|598|\n|Sales and marketing|644|692|767|917|866|897|1,017|1,030|\n|General and administrative|380|404|459|475|496|520|549|571|\n|Total stock-based compensation|1,550|1,793|1,936|2,182|2,148|2,264|2,434|2,469|\n|Asset acquisition related write-offs|\u2014|631|93|1,663|\u2014|\u2014|\u2014|\u2014|\n|Total stock based compensation and asset acquisition related write-offs|1,550|2,424|2,029|3,845|2,148|2,264|2,434|2,469|\n", + "(3) See Note 7 to the Consolidated Financial Statements.", + "Seasonality, Cyclicality and Quarterly Revenue Trends Our quarterly results reflect seasonality in the sale of our products, subscriptions and services.", + "In general, a pattern of increased customer buying at year-end has positively impacted sales activity in the fourth quarter.", + "In the first quarter we generally experience lower sequential billings and product revenues, which results in lower product revenue.", + "Our product revenue in the third quarter can be negatively affected by reduced economic activity in Europe during the summer months.", + "During fiscal 2010, the growth in the Americas during the third quarter more than offset the slight decline in Europe, but this may not always be the case.", + "Similarly, our gross margins and operating income have been affected by these historical trends because expenses are relatively fixed in the near-term.", + "Although these seasonal factors are common in the technology sector, historical patterns should not be considered a reliable indicator of our future sales activity or performance.", + "On a quarterly basis, we have usually generated the majority of our product revenue in the final month of each quarter and a significant amount in the last two weeks of a quarter.", + "We believe this is due to customer buying patterns typical in this industry.", + "Our total quarterly revenue over the past twelve quarters has increased sequentially in every quarter except for the first quarters of fiscal 2010 and fiscal 2009.", + "We believe these declines in the first and third quarters of fiscal 2010 are based on seasonality as discussed above, which particularly impacts our product revenue.", + "Product revenue in all of the quarters of fiscal 2010 was higher as compared to the same periods in fiscal 2009, which we believe was due in part to the investments made in our sales organization and improvements in overall corporate IT spending.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis The Risk Committee of the Board and the Risk Governance Committee approve liquidity risk limits at the firmwide level, consistent with our risk appetite statement.", + "Limits are reviewed frequently and amended, with required approvals, on a permanent and temporary basis, as appropriate, to reflect changing market or business conditions.", + "Our liquidity risk limits are monitored by Treasury and Liquidity Risk Management.", + "Liquidity Risk Management is responsible for identifying and escalating to senior management and/or the appropriate risk committee, on a timely basis, instances where limits have been exceeded.", + "GCLA and Unencumbered Metrics GCLA.", + "Based on the results of our internal liquidity risk models, described above, as well as our consideration of other factors, including, but not limited to, an assessment of our potential intraday liquidity needs and a qualitative assessment of our condition, as well as the financial markets, we believe our liquidity position as of both December 2018 and December 2017 was appropriate.", + "We strictly limit our GCLA to a narrowly defined list of securities and cash because they are highly liquid, even in a difficult funding environment.", + "We do not include other potential sources of excess liquidity in our GCLA, such as less liquid unencumbered securities or committed credit facilities.", + "The table below presents information about our average GCLA", + "||Average for the Year Ended December|\n|$ in millions| 2018|2017|\n| Denomination|||\n|U.S. dollar| $155,348|$155,020|\n|Non-U.S.dollar| 77,995|63,528|\n| Total| $233,343|$218,548|\n| Asset Class|||\n|Overnight cash deposits| $ 98,811|$ 93,617|\n|U.S. government obligations| 79,810|75,108|\n|U.S. agency obligations| 12,171|11,813|\n|Non-U.S.governmentobligations| 42,551|38,010|\n| Total| $233,343|$218,548|\n| Entity Type|||\n|Group Inc. and Funding IHC| $ 40,920|$ 37,507|\n|Major broker-dealer subsidiaries| 104,364|98,160|\n|Major bank subsidiaries| 88,059|82,881|\n| Total| $233,343|$218,548|\n", + "In the table above: \u2030 The U. S. dollar-denominated GCLA consists of (i) unencumbered U. S. government and agency obligations (including highly liquid U. S. agency mortgage-backed obligations), all of which are eligible as collateral in Federal Reserve open market operations and (ii) certain overnight U. S. dollar cash deposits.", + "\u2030 The non-U.", + "S. dollar-denominated GCLA consists of non-U.", + "S. government obligations (only unencumbered German, French, Japanese and U. K. government obligations) and certain overnight cash deposits in highly liquid currencies.", + "We maintain our GCLA to enable us to meet current and potential liquidity requirements of our parent company, Group Inc. , and its subsidiaries.", + "Our Modeled Liquidity Outflow and Intraday Liquidity Model incorporate a consolidated requirement for Group Inc. , as well as a standalone requirement for each of our major broker-dealer and bank subsidiaries.", + "Funding IHC is required to provide the necessary liquidity to Group Inc. during the ordinary course of business, and is also obligated to provide capital and liquidity support to major subsidiaries in the event of our material financial distress or failure.", + "Liquidity held directly in each of our major broker-dealer and bank subsidiaries is intended for use only by that subsidiary to meet its liquidity requirements and is assumed not to be available to Group Inc. or Funding IHC unless (i) legally provided for and (ii) there are no additional regulatory, tax or other restrictions.", + "In addition, the Modeled Liquidity Outflow and Intraday Liquidity Model also incorporate a broader assessment of standalone liquidity requirements for other subsidiaries and we hold a portion of our GCLA directly at Group Inc. or Funding IHC to support such requirements.", + "Other Unencumbered Assets.", + "In addition to our GCLA, we have a significant amount of other unencumbered cash and financial instruments, including other government obligations, high-grade money market securities, corporate obligations, marginable equities, loans and cash deposits not included in our GCLA.", + "The fair value of our unencumbered assets averaged $177.08 billion for 2018 and $158.41 billion for 2017.", + "We do not consider these assets liquid enough to be eligible for our GCLA.", + "Liquidity Regulatory Framework As a BHC, we are subject to a minimum Liquidity Coverage Ratio (LCR) under the LCR rule approved by the U. S. federal bank regulatory agencies.", + "The LCR rule requires organizations to maintain an adequate ratio of eligible high-quality liquid assets (HQLA) to expected net cash outflows under an acute short-term liquidity stress scenario.", + "Eligible HQLA excludes HQLA held by subsidiaries that is in excess of their minimum requirement and is subject to transfer restrictions.", + "We are required to maintain a minimum LCR of 100%.", + "We expect that fluctuations in client activity, business mix and the market environment will impact our average LCR.", + "The table below presents information about our average daily LCR.", + "||Average for the Three Months Ended|\n|$ in millions| December 2018|September 2018|\n|Total HQLA| $226,473|$233,721|\n|Eligible HQLA| $160,016|$170,621|\n|Net cash outflows| $126,511|$133,126|\n| LCR| 127%|128%|\n", + "Liquidity and Capital Resources" + ], + "question_id": "simplong-test-140", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the difference of Residential/Religious of kWhs Delivered between 2005 and 2004? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "debt issuances, and proceeds from the disposition of properties, if any.", + "Redevelopment Pipeline The Company defines redevelopment activities as existing properties owned or recently acquired, which have been targeted for additional investment by the Company with the expectation of increased financial returns through property improvement.", + "The Company\u2019s redevelopment strategy strives to improve the financial and physical aspects of the Company\u2019s redevelopment apartment communities and to target a 10 percent return on the incremental renovation investment.", + "Many of the Company\u2019s properties are older and in excellent neighborhoods, providing lower density with large floor plans that represent attractive redevelopment opportunities.", + "During redevelopment, apartment units may not be available for rent and, as a result, may have less than stabilized operations.", + "As of December 31, 2007, the Company had thirteen major redevelopment communities aggregating 3,891 apartment units with estimated redevelopment costs of $135.6 million, of which approximately $74.6 million remains to be expended.", + "These amounts exclude redevelopment projects owned by Fund II.", + "Alternative Capital Sources Fund II has eight institutional investors, and the Company, with combined partner equity commitments of $265.9 million.", + "Essex has committed $75.0 million to Fund II, which represents a 28.2% interest as general partner and limited partner.", + "Fund II utilized debt as leverage equal to approximately 65% of the estimated value of the underlying real estate.", + "Fund II invested in apartment communities in the Company\u2019s targeted West Coast markets and, as of December 31, 2007, owned eleven apartment communities and three development projects.", + "Essex records revenue for its asset management, property management, development and redevelopment services when earned, and promote income when realized if Fund II exceeds certain financial return benchmarks.", + "Contractual Obligations and Commercial Commitments The following table summarizes the maturation or due dates of our contractual obligations and other commitments at December 31, 2007, and the effect such obligations could have on our liquidity and cash flow in future periods:", + "|(In thousands)|2008|2009 and 2010|2011 and 2012|Thereafter|Total|\n|Mortgage notes payable|$116,357|$179,502|$198,728|$768,286|$1,262,873|\n|Exchangeable bonds|-|-|-|225,000|225,000|\n|Lines of credit|8,818|161,000|-|-|169,818|\n|Interest on indebtedness|87,000|93,100|57,900|204,800|442,800|\n|Development commitments|153,000|260,600|89,800|33,700|537,100|\n|Redevelopment commitments|42,700|31,900|-|-|74,600|\n|Essex Apartment Value Fund II, L.P.||||||\n|capital commitment|13,383|-|-|-|13,383|\n||$421,258|$726,102|$346,428|$1,231,786|$2,725,574|\n", + "Variable Interest Entities In accordance with Financial Accounting Standards Board (FASB) Interpretation No.46 Revised (FIN 46R), \u201cConsolidation of Variable Interest Entities, an Interpretation of ARB No.51\u201d, the Company consolidates 19 DownREIT limited partnerships (comprising twelve properties), and an office building that is subject to loans made by the Company.", + "The Company consolidates these entities because it is deemed the primary beneficiary under FIN 46R.", + "The total assets and liabilities related to these variable interest entities (VIEs), net of intercompany eliminations, were approximately $222.7 million and $163.9 million as of December 31, 2007 and $178.3 million and $110.9 million as of December 31, 2006, respectively.", + "Interest holders in VIEs consolidated by the Company are allocated net income equal to the cash payments made to those interest holders for services rendered or distributions from cash flow.", + "The remaining results of operations are generally allocated to the Company.", + "As of December 31, 2007 and 2006, the Company was involved with two VIEs, of which it is not deemed to be the primary beneficiary.", + "Total assets and liabilities of these entities were approximately $71.7 million and $78.5 million and $58.3 million and $58.4 million, as of December 31, 2007 and 2006, respectively.", + "The Company does not have a significant exposure to loss from its involvement with these unconsolidated VIEs.", + "Critical Accounting Policies and Estimates The preparation of consolidated financial statements, in accordance with U. S. generally accepted accounting", + "METLIFE, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS\u2019 EQUITY FOR THE YEARS ENDED DECEMBER 31, 2006, 2005 AND 2004 (In millions)", + "|||||||Accumulated Other Comprehensive Income||\n|| Preferred Stock| Common Stock|Additional Paid-in Capital|Retained Earnings|Treasury Stock at Cost|Net Unrealized Investment Gains (Losses)|Foreign Currency Translation Adjustment|Defined Benefit Plans Adjustment|Total|\n|Balance at January 1, 2004|$\u2014|$8|$14,991|$4,193|$-835|$2,972|$-52|$-128|$21,149|\n|Treasury stock transactions, net|||46||-950||||-904|\n|Dividends on common stock||||-343|||||-343|\n|Comprehensive income (loss):||||||||||\n|Net income||||2,758|||||2,758|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||-62|||-62|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-6|||-6|\n|Cumulative effect of a change in accounting, net of income tax||||||90|||90|\n|Foreign currency translation adjustments, net of income tax|||||||144||144|\n|Additional minimum pension liability adjustment, net of income tax||||||||-2|-2|\n|Other comprehensive income|||||||||164|\n|Comprehensive income|||||||||2,922|\n|Balance at December 31, 2004|\u2014|8|15,037|6,608|-1,785|2,994|92|-130|22,824|\n|Treasury stock transactions, net|||58||99||||157|\n|Common stock issued in connection with acquisition|||283||727||||1,010|\n|Issuance of preferred stock|1||2,042||||||2,043|\n|Issuance of stock purchase contracts related to common equity units|||-146||||||-146|\n|Dividends on preferred stock||||-63|||||-63|\n|Dividends on common stock||||-394|||||-394|\n|Comprehensive income:||||||||||\n|Net income||||4,714|||||4,714|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||233|||233|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-1,285|||-1,285|\n|Foreign currency translation adjustments, net of income tax|||||||-81||-81|\n|Additional minimum pension liability adjustment, net of income tax||||||||89|89|\n|Other comprehensive income|||||||||-1,044|\n|Comprehensive income|||||||||3,670|\n|Balance at December 31, 2005|1|8|17,274|10,865|-959|1,942|11|-41|29,101|\n|Treasury stock transactions, net|||180||-398||||-218|\n|Dividends on preferred stock||||-134|||||-134|\n|Dividends on common stock||||-450|||||-450|\n|Comprehensive income:||||||||||\n|Net income||||6,293|||||6,293|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||-43|||-43|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-35|||-35|\n|Foreign currency translation adjustments, net of income tax|||||||46||46|\n|Additional minimum pension liability adjustment, net of income tax||||||||-18|-18|\n|Other comprehensive income|||||||||-50|\n|Comprehensive income|||||||||6,243|\n|Adoption of SFAS 158, net of income tax||||||||-744|-744|\n|Balance at December 31, 2006|$1|$8|$17,454|$16,574|$-1,357|$1,864|$57|$-803|$33,798|\n", + "See accompanying notes to consolidated financial statements.", + "default for unsecured financing arrangements, including, among other things, limitations on consolidations, mergers and sales of assets.", + "Financial covenants under the 2018, 2016 and 2014 Credit Agreements include a consolidated indebtedness to consolidated EBITDA ratio of no greater than 5.0 to 1.0 through June 30, 2017, and no greater than 4.5 to 1.0 thereafter.", + "If our credit rating falls below investment grade, additional restrictions would result, including restrictions on investments and payment of dividends.", + "We were in compliance with all covenants under the 2018, 2016 and 2014 Credit Agreements as of December 31, 2018.", + "As of December 31, 2018, there were no borrowings outstanding under the Multicurrency Revolving Facility.", + "We may, at our option, redeem our senior notes, in whole or in part, at any time upon payment of the principal, any applicable make-whole premium, and accrued and unpaid interest to the date of redemption, except that the Floating Rate Notes due 2021 may not be redeemed until on or after March 20, 2019 and such notes do not have any applicable make-whole premium.", + "In addition, we may redeem, at our option, the 2.700% Senior Notes due 2020, the 3.375% Senior Notes due 2021, the 3.150% Senior Notes due 2022, the 3.700% Senior Notes due 2023, the 3.550% Senior Notes due 2025, the 4.250% Senior Notes due 2035 and the 4.450% Senior Notes due 2045 without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date.", + "The estimated fair value of our senior notes as of December 31, 2018, based on quoted prices for the specific securities from transactions in over-the-counter markets (Level 2), was $7,798.9 million.", + "The estimated fair value of Japan Term Loan A and Japan Term Loan B, in the aggregate, as of December 31, 2018, based upon publicly available market yield curves and the terms of the debt (Level 2), was $294.7 million.", + "The carrying values of U. S. Term Loan B and U. S. Term Loan C approximate fair value as they bear interest at short-term variable market rates.", + "We entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed-rate obligations on our senior notes due 2019 and 2021.", + "These fair value hedges were settled in 2016.", + "In 2016, we entered into various variable-to-fixed interest rate swap agreements that were accounted for as cash flow hedges of U. S. Term Loan B.", + "In 2018, we entered into cross-currency interest rate swaps that we designated as net investment hedges.", + "The excluded component of these net investment hedges is recorded in interest expense, net.", + "See Note 13 for additional information regarding our interest rate swap agreements.", + "We also have available uncommitted credit facilities totaling $55.0 million.", + "At December 31, 2018 and 2017, the weighted average interest rate for our borrowings was 3.1 percent and 2.9 percent, respectively.", + "We paid $282.8 million, $317.5 million, and $363.1 million in interest during 2018, 2017, and 2016, respectively.12.", + "Accumulated Other Comprehensive (Loss) Income AOCI refers to certain gains and losses that under GAAP are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders\u2019 equity.", + "Amounts in AOCI may be reclassified to net earnings upon the occurrence of certain events.", + "Our AOCI is comprised of foreign currency translation adjustments, including unrealized gains and losses on net investment hedges, unrealized gains and losses on cash flow hedges, and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans.", + "Foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity.", + "Unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings.", + "Amounts related to defined benefit plans that are in AOCI are reclassified over the service periods of employees in the plan.", + "See Note 14 for more information on our defined benefit plans.", + "The following table shows the changes in the components of AOCI, net of tax (in millions):", + "||Foreign Currency Translation|Cash Flow Hedges|Defined Benefit Plan Items|Total AOCI|\n|Balance December 31, 2017|$121.5|$-66.5|$-138.2|$-83.2|\n|AOCI before reclassifications|-135.4|68.2|-29.7|-96.9|\n|Reclassifications to retained earnings (Note 2)|-17.4|-4.4|-21.1|-42.9|\n|Reclassifications|-|23.6|12.0|35.6|\n|Balance December 31, 2018|$-31.3|$20.9|$-177.0|$-187.4|\n", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (COMBINED FOR CON EDISON AND CON EDISON OF NEW YORK)\u2013CONTINUED Con Edison of New York Electric Con Edison of New York\u2019s electric sales and deliveries, excluding off-system sales, in 2005 compared with 2004 were:", + "||Millions of kWhs Delivered|Revenues in Millions|\n|| Twelve Months Ended|| Twelve Months Ended||\n| Description| December 31, 2005| December 31, 2004|Variation|Percent Variation| December 31, 2005| December 31, 2004|Variation|Percent Variation|\n|Residential/Religious|13,690|12,673|1,017|8.0%|$2,884|$2,399|$485|20.2%|\n|Commercial/Industrial|15,402|16,966|-1,564|-9.2|2,869|2,722|147|5.4|\n|Retail access customers|16,848|14,143|2,705|19.1|679|699|-20|-2.9|\n|NYPA, Municipal Agency and other sales|11,396|10,959|437|4.0|292|270|22|8.2|\n|Other operating revenues|-|-|-|-|224|28|196|Large|\n| Total| 57,336| 54,741|2,595|4.7%|$6,948|$6,118|$830|13.6%|\n", + "Con Edison of New York\u2019s electric operating revenues were $830 million higher in 2005 than in 2004, due primarily to increased recoverable purchased power and fuel costs ($405 million), warmer summer weather and sales growth ($119 million), the electric rate plan that took effect in April 2005 ($282 million), the charge in 2004 to resolve certain issues relating primarily to the treatment of prior period pension credits ($100 million) and recovery of costs relating to the East River Repowering Project ($54 million), offset in part by lower revenue taxes ($76 million; see \u201cState Income Tax\u201d in Note A to the financial statements), and provision for refund to customers of shared earnings above the target level ($53 million).", + "Electric sales and delivery volumes in Con Edison of New York\u2019s service area increased 4.7 percent in 2005 compared with 2004, primarily reflecting warmer weather in the 2005 summer period compared with 2004 weather, growth in usage by existing customers and increased new business.", + "After adjusting for variations, principally weather and billing days in each period, electric sales and delivery volumes in Con Edison of New York\u2019s service area increased 2.4 percent in 2005 compared with 2004.", + "Con Edison of New York\u2019s electric purchased power costs increased $285 million in 2005 compared with 2004 reflecting an increase in unit costs, partially offset by decreased purchased volumes associated with additional customers obtaining their energy supply through competitive providers.", + "Electric fuel costs increased $120 million, reflecting higher sendout volumes from the company\u2019s generating facilities and an increase in unit costs.", + "Con Edison of New York\u2019s electric operating income increased $133 million in 2005 compared with 2004." + ], + "question_id": "simplong-test-141", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Basic net income available for common shareholders of 2007, and 2025 of Industrial SquareFeet 8,028 12,303 13,525 12,567 13,042 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Comparison of Year Ended December 31, 2006 to Year Ended December 31, 2005 Rental Revenue from Continuing Operations Overall, rental revenue from continuing operations increased from $602.1 million in 2005 to $743.5 million in 2006.", + "The following table reconciles rental revenue from continuing operations by reportable segment to total reported rental revenue from continuing operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Office|$534,369|$443,927|\n|Industrial| 194,670|148,359|\n|Other| 14,509|9,776|\n|Total|$743,548|$602,062|\n", + "Both of our reportable segments that comprise Rental Operations (office and industrial) are within the real estate industry; however, the same economic and industry conditions do not affect each segment in the same manner.", + "The primary causes of the increase in rental revenue from continuing operations, with specific references to a particular segment when applicable, are summarized below: ?", + "In 2006, we acquired 50 new properties and placed 27 development projects in service.", + "These 2006 acquisitions and developments are the primary factor in the overall increase in rental revenue for the year ended 2006 compared to 2005 as they provided incremental revenues of $73.8 million and $9.3 million respectively.", + "These acquisitions totaled $948.4 million on 8.6 million square feet and were 99% leased at December 31, 2006. ?", + "Acquisitions and developments that were placed in service in 2005 provided $15.8 million and $11.2 million, respectively, of incremental revenue in 2006. ?", + "Rental revenue includes lease termination fees.", + "Lease termination fees relate to specific tenants who pay a fee to terminate their lease obligations before the end of the contractual lease term.", + "Lease termination fees increased from $7.3 million in 2005 to $16.1 million in 2006. ?", + "Our in-service occupancy increased from 92.7% at December 31, 2005, to 92.9% at December 31, 2006 and contributed to the remaining increase in rental revenue.", + "Equity in Earnings of Unconsolidated Companies Equity in earnings represents our ownership share of net income from investments in unconsolidated companies.", + "These joint ventures generally own and operate rental properties and develop properties.", + "These earnings increased from $29.5 million in 2005 to $38.0 million in 2006.", + "During 2006, our joint ventures sold 22 non-strategic buildings, with our share of the net gain recorded through equity in earnings totaling $18.8 million.", + "During the second quarter of 2005, one of our ventures sold three buildings, with our share of the net gain recorded through equity in earnings totaling $11.1 million.", + "Rental Expenses and Real Estate Taxes The following table reconciles rental expenses and real estate taxes by reportable segment to our total reported amounts in the statement of operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Rental Expenses:|||\n|Office|$143,567|$119,052|\n|Industrial| 21,991|18,264|\n|Other| 3,519|1,557|\n|Total|$169,077|$138,873|\n|Real Estate Taxes:|||\n|Office|$55,963|$49,936|\n|Industrial| 21,760|17,758|\n|Other| 6,015|5,104|\n|Total|$83,738|$72,798|\n", + "Rental expenses and real estate taxes for 2006 have increased from 2005 by $30.2 million and $10.9 million, respectively, as the result of acquisition and development activity in 2005 and 2006 as well as from an increase in occupancy over the past two years.", + "recognition and account for the continued operations of the property by applying the finance, installment or cost recovery methods, as appropriate, until the full accrual sales criteria are met.", + "Estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales.", + "Gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the Consolidated Statements of Cash Flows.", + "Gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental are classified as gain on sale of Service Operation properties in the Consolidated Statements of Operations.", + "All activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the Consolidated Statements of Cash Flows.", + "Net Income Per Common Share Basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period.", + "Diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to Units not owned by us, by the sum of the weighted average number of common shares outstanding and minority Units outstanding, including any dilutive potential common equivalents for the period.", + "The following table reconciles the components of basic and diluted net income per common share (in thousands):", + "||2007|2006|2005|\n|Basic net income available for common shareholders|$217,692|$145,095|$309,183|\n|Minority interest in earnings of common unitholders|14,399|14,238|29,649|\n|Diluted net income available for common shareholders|$232,091|$159,333|$338,832|\n|Weighted average number of common shares outstanding|139,255|134,883|141,508|\n|Weighted average partnership Units outstanding|9,204|13,186|13,551|\n|Dilutive shares for stock-based compensation plans -1|1,155|1,324|818|\n|Weighted average number of common shares and potential dilutive common equivalents|149,614|149,393|155,877|\n", + "(1) Excludes the effect of outstanding stock options, as well as the Exchangeable Senior Notes (\u201cExchangeable Notes\u201d) issued in 2006, that have an anti-dilutive effect on earnings per share for the periods presented.", + "A joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares.", + "The effect of this option on earnings per share was anti-dilutive for the years ended December 31, 2007, 2006 and 2005.", + "Federal Income Taxes We have elected to be taxed as a real estate investment trust (\u201cREIT\u201d) under the Internal Revenue Code.", + "To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders.", + "Management intends to continue to adhere to these requirements and to maintain our REIT status.", + "As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders.", + "Accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders.", + "We are also generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders.", + "If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.", + "schedule, excluding the leases in properties designated as held-for-sale, at December 31, 2016 (in thousands, except percentage data and number of leases):", + "||Total Consolidated Portfolio|Industrial|Medical Office|Non-reportable|\n|Year ofExpiration|SquareFeet|Ann. RentRevenue*|Number of Leases|SquareFeet|Ann. RentRevenue*|SquareFeet|Ann. Rent Revenue*|SquareFeet|Ann. RentRevenue*|\n|2017|8,215|$32,966|146|8,028|$29,835|171|2,975|16|$156|\n|2018|12,729|57,870|189|12,303|46,975|416|10,781|10|114|\n|2019|13,858|61,293|210|13,525|53,543|319|7,581|14|169|\n|2020|13,014|65,938|172|12,567|56,948|423|8,772|24|218|\n|2021|13,358|61,520|186|13,042|55,293|257|5,732|59|495|\n|2022|12,712|54,950|106|12,350|47,451|330|6,940|32|559|\n|2023|3,557|23,923|62|3,134|16,111|415|7,725|8|87|\n|2024|8,857|41,951|52|8,706|38,816|151|3,135|\u2014|\u2014|\n|2025|8,000|35,392|37|7,788|31,508|212|3,884|\u2014|\u2014|\n|2026|7,363|37,513|52|7,080|31,491|283|6,022|\u2014|\u2014|\n|2027 and Thereafter|14,003|124,434|84|11,156|49,740|2,419|67,753|428|6,941|\n|Total Leased|115,666|$597,750|1,296|109,679|$457,711|5,396|131,300|591|$8,739|\n|Total Portfolio Square Feet|118,945|||112,368||5,672||905||\n|Percent Leased|97.2%|||97.6%||95.1%||65.3%||\n", + "* Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period.", + "Annualized rental revenue excludes additional amounts paid by tenants as reimbursement for operating expenses.", + "Information on current market rents can be difficult to obtain, is highly subjective and is often not directly f comparable between properties.", + "As a result, we believe the increase or decrease in net efffective rent on lease renewals, as previously defined, is the most objective and meaningful relationship between rents on leases expiring in the near-term and current market rents.", + "Acquisition Activity Our decision process in determining whether or not to acquire a target property or portfolio involves several factors, including expected rent growth, multiple yield metrics, property locations and expected demographic growth in each location, current occupancy of the target properties, tenant profile and remaining terms of the in-place leases in the target properties.", + "We pursue both brokered and non-brokered acquisitions, and it is dif W ficult to predict which f markets and product types may present acquisition opportunities that align with our strategy.", + "Because of the numerous factors considered in our acquisition decisions, we do not establish specific target yields for future acquisitions.", + "Due to increased market prices and lower acquisition yields for the class and quality of assets that meet our investment criteria, we have shifted our near term focus from acquisitions to new development activities.", + "In addition to the 14 properties acquired from the Quantico Joint VVenture, we also acquired three other properties for a total of 17 properties during the year ended December 31, 2016 and two properties during the year ended December 31, 2015.", + "The following table summarizes the acquisition price, percent leased at time of acquisition and in-place yields by product type for these acquisitions (in thousands, except percentage data):" + ], + "question_id": "simplong-test-142", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the increasing rate of Cost of sales in 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Note 11 \u2013 Stock-Based Compensation During 2014, 2013 and 2012, we recorded non-cash stock-based compensation expense totaling $164 million, $189 million and $167 million, which is included as a component of other unallocated, net on our Statements of Earnings.", + "The net impact to earnings for the respective years was $107 million, $122 million and $108 million.", + "As of December 31, 2014, we had $91 million of unrecognized compensation cost related to nonvested awards, which is expected to be recognized over a weighted average period of 1.6 years.", + "We received cash from the exercise of stock options totaling $308 million, $827 million and $440 million during 2014, 2013 and 2012.", + "In addition, our income tax liabilities for 2014, 2013 and 2012 were reduced by $215 million, $158 million, $96 million due to recognized tax benefits on stock-based compensation arrangements.", + "Stock-Based Compensation Plans Under plans approved by our stockholders, we are authorized to grant key employees stock-based incentive awards, including options to purchase common stock, stock appreciation rights, restricted stock units (RSUs), performance stock units (PSUs) or other stock units.", + "The exercise price of options to purchase common stock may not be less than the fair market value of our stock on the date of grant.", + "No award of stock options may become fully vested prior to the third anniversary of the grant and no portion of a stock option grant may become vested in less than one year.", + "The minimum vesting period for restricted stock or stock units payable in stock is three years.", + "Award agreements may provide for shorter or pro-rated vesting periods or vesting following termination of employment in the case of death, disability, divestiture, retirement, change of control or layoff.", + "The maximum term of a stock option or any other award is 10 years.", + "At December 31, 2014, inclusive of the shares reserved for outstanding stock options, RSUs and PSUs, we had 19 million shares reserved for issuance under the plans.", + "At December 31, 2014, 7.8 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans.", + "We issue new shares upon the exercise of stock options or when restrictions on RSUs and PSUs have been satisfied.", + "RSUs The following table summarizes activity related to nonvested RSUs during 2014:", + "||Number of RSUs (In thousands)|Weighted Average Grant-Date Fair Value PerShare|\n|Nonvested at December 31, 2011|4,302|$ 78.25|\n|Granted|1,987|81.93|\n|Vested|-1,299|80.64|\n|Forfeited|-168|79.03|\n|Nonvested at December 31, 2012|4,822|$ 79.10|\n|Granted|1,356|89.24|\n|Vested|-2,093|79.26|\n|Forfeited|-226|81.74|\n|Nonvested at December 31, 2013|3,859|$ 82.42|\n|Granted|745|146.85|\n|Vested|-2,194|87.66|\n|Forfeited|-84|91.11|\n|Nonvested at December 31, 2014|2,326|$ 97.80|\n", + "RSUs are valued based on the fair value of our common stock on the date of grant.", + "Employees who are granted RSUs receive the right to receive shares of stock after completion of the vesting period; however, the shares are not issued and the employees cannot sell or transfer shares prior to vesting and have no voting rights until the RSUs vest, generally three years from the date of the award.", + "Employees who are granted RSUs receive dividend-equivalent cash payments only upon vesting.", + "For these RSU awards, the grant-date fair value is equal to the closing market price of our common stock on the date of grant less a discount to reflect the delay in payment of dividend-equivalent cash payments.", + "We recognize the grant-date fair value of RSUs, less estimated forfeitures, as compensation expense ratably over the requisite service period, which beginning with the RSUs granted in 2013 is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period.", + "ITEM 6 SELECTED FINANCIAL DATA The following table summarizes certain selected consolidated financial data for, and as of the end of, each of the fiscal years in the five-year period ended June 30, 2009.", + "The data set forth below should be read in conjunction with the Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements and related Notes included elsewhere in this Report.", + "The consolidated statements of operations data for the years ended June 30, 2009, 2008 and 2007 and the balance sheet data as of June 30, 2009 and 2008 are derived from our audited consolidated financial statements included elsewhere in this Report.", + "The consolidated statements of operations data for the years ended June 30, 2006 and 2005 and the balance sheet data as of June 30, 2007, 2006 and 2005 are derived from our audited consolidated financial statements not included herein.", + "Historical results are not necessarily indicative of the results to be expected in the future, and the results for the years presented should not be considered indicative of our future results of operations.", + "| Consolidated Statement of Income Data:|Years Ended June 30|\n| (In thousands, except per share data)|2009|2008|2007|2006|2005|\n|Net revenues|$920,735|$835,397|$716,332|$606,996|$425,505|\n|Cost of sales|366,933|338,544|272,140|230,101|150,645|\n|Product recall expenses|-|3,103|59,700|-|-|\n|Gross profit|553,802|493,750|384,492|376,895|274,860|\n|Selling, general and administrative expenses|289,875|278,087|237,326|200,168|135,703|\n|Research and development expenses|63,056|60,524|50,106|37,216|30,014|\n|Donations to research foundations|3,500|2,000|-|760|500|\n|In-process research and development charge|-|-|-|-|5,268|\n|Amortization of acquired intangible assets|7,060|7,791|6,897|6,327|870|\n|Restructuring expenses|-|2,378|-|1,124|5,152|\n|Total operating expenses|363,491|350,780|294,329|245,595|177,507|\n|Income from operations|190,311|142,970|90,163|131,300|97,353|\n|Other income (expenses):||||||\n|Interest income (expense), net|10,205|10,058|6,477|1,320|-808|\n|Other, net|1,168|4,827|1,333|774|81|\n|Total other income (expenses)|11,373|14,885|7,810|2,094|-727|\n|Income before income taxes|201,684|157,855|97,973|133,394|96,626|\n|Income taxes|-55,236|-47,552|-31,671|-45,183|-31,841|\n|Net income|$146,448|$110,303|$66,302|$88,211|$64,785|\n|Basic earnings per share|$1.94|$1.43|$0.86|$1.22|$0.94|\n|Diluted earnings per share|$1.90|$1.40|$0.85|$1.16|$0.91|\n|Weighted average:||||||\n|Basic shares outstanding|75,629|77,378|76,709|72,307|68,643|\n|Diluted shares outstanding|77,113|78,712|78,253|77,162|74,942|\n", + "The results of our international operations are affected by changes in exchange rates between currencies.", + "Changes in exchange rates may negatively affect our consolidated net revenue and gross profit margins from international operations.", + "We are exposed to the risk that the dollar value equivalent of anticipated cash flows would be adversely affected by changes in foreign currency exchange rates.", + "We manage this risk through foreign currency option contracts.", + "Stock-Based Compensation Costs We have granted stock options to personnel, including officers and directors, under our 2006 Incentive Award Plan, as amended (the \u201c2006 Plan\u201d).", + "These options have expiration dates of seven years from the date of grant and vest over four years.", + "We granted these options with the exercise price equal to the market value as determined at the date of grant.", + "We have also offered to our personnel, including officers and directors, the right to purchase shares of our common stock at a discount under our employee stock purchase plan (\u201cESPP\u201d).", + "As of July 1, 2005, we adopted SFAS 123(R) using the modified prospective method, which requires measurement of compensation expense of all stock-based awards at fair value on the date of grant and recognition of compensation expense over the service period for awards expected to vest.", + "Under this method, the provisions of SFAS 123(R) apply to all awards granted or modified after the date of adoption.", + "In addition, the unrecognized expense of awards not yet vested at the date of adoption, determined under the original provisions of SFAS No.123 shall be recognized in net income in the periods after adoption.", + "The fair value of stock options is determined using the Black-Scholes valuation model.", + "Such value is recognized as expense over the service period, using the graded\u0002attribution method for stock-based awards granted prior to July 1, 2005 and the straight-line method for stock-based awards granted after July 1, 2005.", + "The fair value of stock options granted under our stock option plans and purchase rights granted under our ESPP is estimated on the date of the grant using the Black-Scholes option-pricing model, assuming no dividends and the following assumptions:", + "|| Years ended June 30|\n||2009| 2008| 2007|\n|Stock Options:||||\n|Weighted average grant date fair value|$10.58|$12.87|$14.53|\n|Weighted average risk-free interest rate|1.9%|2.6-4.6%|4.3-5.1%|\n|Dividend yield|-|-|-|\n|Expected option life in years|4.0-4.8|4.0-4.8|4.0-5.2|\n|Volatility|27-38%|27-28%|26-30%|\n|ESPP Purchase rights:||||\n|Weighted average risk-free interest rate|1.3%|1.7-5.0%|4.9-5.1%|\n|Dividend yield|-|-|-|\n|Expected option life|6 months|6 months|6 months|\n|Volatility|33-55%|23-33%|30-41%|\n", + "Expected volatilities are based on a combination of historical volatilities of our stock and the implied volatilities from tradeable options of our stock corresponding to their expected term.", + "We use a combination of the historic and implied volatilities as the additional use of the implied volatilities are more representative of our future stock price trends.", + "The expected life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and our historical exercise patterns.", + "The risk-free rate is based on the U. S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option." + ], + "question_id": "simplong-test-143", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "The total amount of which section ranks first for Years Ended December 31, for Credit loss impairments? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Shares of common stock issued, in treasury, and outstanding were (in thousands of shares):", + "||Shares Issued|Treasury Shares|Shares Outstanding|\n|Balance at December 29, 2013|376,832|\u2014|376,832|\n|Exercise of stock options, issuance of other stock awards, and other|178|\u2014|178|\n|Balance at December 28, 2014|377,010|\u2014|377,010|\n|Exercise of warrants|20,480|\u2014|20,480|\n|Issuance of common stock to Sponsors|221,666|\u2014|221,666|\n|Acquisition of Kraft Foods Group, Inc.|592,898|\u2014|592,898|\n|Exercise of stock options, issuance of other stock awards, and other|2,338|-413|1,925|\n|Balance at January 3, 2016|1,214,392|-413|1,213,979|\n|Exercise of stock options, issuance of other stock awards, and other|4,555|-2,058|2,497|\n|Balance at December 31, 2016|1,218,947|-2,471|1,216,476|\n", + "Note 13. Financing Arrangements We routinely enter into accounts receivable securitization and factoring programs .", + "We account for transfers of receivables pursuant to these programs as a sale and remove them from our consolidated balance sheet.", + "At December 31, 2016 , our most significant program in place was the U. S. securitization program, which was amended in May 2016 and originally entered into in October of 2015.", + "Under the program, we are entitled to receive cash consideration of up to $800 million (which we elected to reduce to $500 million , effective February 21, 2017) and a receivable for the remainder of the purchase price (the \u201cDeferred Purchase Price\u201d).", + "This securitization program utilizes a bankruptcy\u0002remote special-purpose entity (\u201cSPE\u201d).", + "The SPE is wholly-owned by a subsidiary of Kraft Heinz and its sole business consists of the purchase or acceptance, through capital contributions of receivables and related assets, from a Kraft Heinz subsidiary and subsequent transfer of such receivables and related assets to a bank.", + "Although the SPE is included in our consolidated financial statements, it is a separate legal entity with separate creditors who will be entitled, upon its liquidation, to be satisfied out of the SPE's assets prior to any assets or value in the SPE becoming available to Kraft Heinz or its subsidiaries.", + "The assets of the SPE are not available to pay creditors of Kraft Heinz or its subsidiaries.", + "This program expires in May 2017.", + "In addition to the U. S. securitization program, we have accounts receivable factoring programs denominated in Australian dollars, New Zealand dollars, British pound sterling, euros, and Japanese yen.", + "Under these programs, we generally receive cash consideration up to a certain limit and a receivable for the Deferred Purchase Price.", + "There is no Deferred Purchase Price associated with the Japanese yen contract.", + "Related to these programs, our aggregate cash consideration limit, after applying applicable hold-backs, was $245 million U. S. dollars at December 31, 2016.", + "Generally, each of these programs automatically renews annually until terminated by either party.", + "The cash consideration and carrying amount of receivables removed from the consolidated balance sheets in connection with the above programs were $904 million at December 31, 2016 and $267 million at January 3, 2016 .", + "The fair value of the Deferred Purchase Price for the programs was $129 million at December 31, 2016 and $583 million at January 3, 2016 .", + "The Deferred Purchase Price is included in sold receivables on the consolidated balance sheets and had a carrying value which approximated its fair value at December 31, 2016 and January 3, 2016 .", + "The proceeds from these sales are recognized on the consolidated statements of cash flows as a component of operating activities.", + "We act as servicer for these arrangements and have not recorded any servicing assets or liabilities for these arrangements as of December 31, 2016 and January 3, 2016 because they were not material to the financial statements.", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements The following table sets forth a rollforward of pre-tax amounts remaining in OCI related to fixed maturity securities with credit loss impairments recognized in earnings, for the periods indicated:", + "||Years Ended December 31,|\n||2018|2017|\n||(in millions)|\n|Credit loss impairments:|||\n|Balance, beginning of period|$319|$359|\n|New credit loss impairments|1|10|\n|Additional credit loss impairments on securities previously impaired|0|11|\n|Increases due to the passage of time on previously recorded credit losses|10|15|\n|Reductions for securities which matured, paid down, prepaid or were sold during the period|-162|-58|\n|Reductions for securities impaired to fair value during the period-1|-24|-13|\n|Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected|-4|-5|\n|Balance, end of period|$140|$319|\n", + "(1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security\u2019s amortized cost.", + "Assets Supporting Experience-Rated Contractholder Liabilities The following table sets forth the composition of \u201cAssets supporting experience-rated contractholder liabilities,\u201d as of the dates indicated:", + "||December 31, 2018|December 31, 2017|\n||AmortizedCost or Cost|FairValue|AmortizedCost or Cost|FairValue|\n||(in millions)|\n|Short-term investments and cash equivalents|$215|$215|$245|$245|\n|Fixed maturities:|||||\n|Corporate securities|13,258|13,119|13,816|14,073|\n|Commercial mortgage-backed securities|2,346|2,324|2,294|2,311|\n|Residential mortgage-backed securities-1|828|811|961|966|\n|Asset-backed securities-2|1,649|1,665|1,363|1,392|\n|Foreign government bonds|1,087|1,083|1,050|1,057|\n|U.S. government authorities and agencies and obligations of U.S. states|538|577|357|410|\n|Total fixed maturities-3|19,706|19,579|19,841|20,209|\n|Equity securities|1,378|1,460|1,278|1,643|\n|Total assets supporting experience-rated contractholder liabilities-4|$21,299|$21,254|$21,364|$22,097|\n", + "(1) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations.", + "(2) Includes credit-tranched securities collateralized by sub-prime mortgages, auto loans, credit cards, education loans and other asset types.", + "Includes collateralized loan obligations at fair value of $1,028 million and $943 million as of December 31, 2018 and 2017, respectively, all of which were rated AAA.", + "(3) As a percentage of amortized cost, 93% and 92% of the portfolio was considered high or highest quality based on NAIC or equivalent ratings, as of December 31, 2018 and 2017, respectively.", + "(4) As a percentage of amortized cost, 78% and 80% of the portfolio consisted of public securities as of December 31, 2018 and 2017, respectively.", + "The net change in unrealized gains (losses) from assets supporting experience-rated contractholder liabilities still held at period end, recorded within \u201cOther income (loss),\u201d was $(778) million, $300 million and $75 million during the years ended December 31, 2018, 2017 and 2016, respectively.", + "Equity Securities The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within \u201cOther income (loss),\u201d was $(1,157) million during the year ended December 31, 2018.", + "The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within \u201cOther comprehensive income (loss),\u201d was $(494) million and $760 million during the years ended December 31, 2017 and 2016, respectively.", + "Benefits and expenses increased $735 million.", + "Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $709 million primarily driven by an increase in policyholders\u2019 benefits, including the change in policy reserves, related to the increase in premiums discussed above.", + "Account Values Account values are a significant driver of our operating results, and are primarily driven by net additions (withdrawals) and the impact of market changes.", + "The income we earn on most of our fee-based products varies with the level of fee-based account values, since many policy fees are determined by these values.", + "The investment income and interest we credit to policyholders on our spread-based products varies with the level of general account values.", + "To a lesser extent, changes in account values impact our pattern of amortization of DAC and VOBA and general and administrative expenses.", + "The following table shows the changes in the account values and net additions (withdrawals) of Retirement segment products for the periods indicated.", + "Net additions (withdrawals) are plan sales and participant deposits or additions, as applicable, minus plan and participant withdrawals and benefits.", + "Account values include both internally- and externally\u0002managed client balances as the total balances drive revenue for the Retirement segment.", + "For more information on internally-managed balances, see \u201c\u2014PGIM.", + "\u201d" + ], + "question_id": "simplong-test-144", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much in combined repurchase claims , in millions , were recorded in the first quarter of 2005 , 2006 , 2007 , 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 14.", + "Significant Transactions \u0010 (Continued) The issuance price of the common units exceeded the Company\u2019s carrying amount, resulting in a pretax gain of approximately $133.1 million.", + "In accordance with SEC Staff Accounting Bulletin No.51, \u201cAccounting for Sales of Stock by a Subsidiary,\u201d recognition of a gain is only appropriate if the class of securities sold by the subsidiary does not contain any preference over the subsidiary\u2019s other classes of securities.", + "As a result, the Company will defer gain recognition until the subordinated units are converted into common units.", + "Boardwalk Pipeline used the net proceeds of approximately $271.4 million to fund the repayment of its intercompany debt ($250.0 million) relating to the acquisition of Gulf South and to provide additional working capital.", + "Acquisitions The Company, through its subsidiary Boardwalk Pipelines, LLC acquired Gulf South Pipeline, LP (\u201cGulf South\u201d) from Entergy-Koch, LP, a venture between Entergy Corporation and Koch Energy, Inc. , a subsidiary of privately\u0002owned Koch Industries, Inc. , in December of 2004.", + "The Company funded the $1.14 billion purchase price, including transaction costs and closing adjustments, with $575.0 million of proceeds from an interim loan and the remaining approximately $561.0 million from its available cash.", + "In January of 2005, Boardwalk Pipelines, LLC and Gulf South issued long-term debt and used the proceeds to repay the $575.0 million interim loan.", + "See Note 12.", + "Gulf South owns and operates a 7,570-mile interstate natural gas pipeline and storage system located in the states of Texas, Louisiana, Mississippi, Alabama and Florida.", + "The Gulf South pipeline system is comprised of the interstate transmission pipeline and 80.0 billion cubic feet (\u201cBcf\u201d) of working gas storage capacity.", + "In May of 2003, Boardwalk Pipelines, LLC acquired Texas Gas from The Williams Companies, Inc. (\u201cWilliams\u201d).", + "The transaction value was approximately $1.05 billion, which included $250.0 million of existing Texas Gas debt.", + "The results of Texas Gas have been included in the Consolidated Financial Statements from the date of acquisition.", + "The Company funded the approximately $803.3 million balance of the purchase price, including transaction costs and closing adjustments, with $528.3 million of its available cash and $275.0 million of proceeds from an interim loan incurred by Texas Gas immediately after the acquisition.", + "Upon completion of the acquisition, Boardwalk Pipelines, LLC issued $185.0 million of 5.2% Notes due 2018 and Texas Gas issued $250.0 million of 4.6% Notes due 2015.", + "The net offering proceeds of approximately $431.0 million were used to repay the $275.0 million interim loan and to retire approximately $132.7 million principal amount of Texas Gas\u2019s existing $150.0 million of 8.625% Notes due 2004 and to pay related tender premiums.", + "In March of 2004, Texas Gas retired the remaining $17.3 million principal amount of its 8.625% Notes upon final maturity.", + "Texas Gas used its existing cash balances to fund this maturity.", + "Boardwalk Pipelines, LLC was converted to a limited partnership in November 2005 and is now known as Boardwalk Pipelines, LP.", + "Texas Gas owns and operates a 5,900-mile natural gas pipeline system that transports natural gas originating in the Louisiana Gulf Coast and East Texas and running north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, Indiana and into Ohio, with smaller diameter lines extending into Illinois.", + "Texas Gas currently has a delivery capacity of 2.8 Bcf per day and a working storage capacity of 63.0 Bcf.", + "The allocation of purchase price to the assets and liabilities acquired was as follows:", + "||Gulf South|Texas Gas|\n|(In millions)|||\n|Current assets|$77.4|$81.6|\n|Property, plant and equipment|1,159.0|691.4|\n|Goodwill||169.3|\n|Other non-current assets|28.3|243.9|\n|Current liabilities|-108.7|-58.9|\n|Short-term debt||-149.8|\n|Long-term debt||-99.2|\n|Other liabilities and deferred credits|-34.8|-74.6|\n||$1,121.2|$803.7|\n", + "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\u0002lien 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 (\u201crescission rate\u201d), 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 2012|September 30 2012|June 30 2012|March 31 2012|December 312011|\n|2004 & Prior|$11|$15|$31|$10|$11|\n|2005|8|10|19|12|13|\n|2006|23|30|56|41|28|\n|2007|45|137|182|100|90|\n|2008|7|23|49|17|18|\n|2008 & Prior|94|215|337|180|160|\n|2009 \u2013 2012|38|52|42|33|29|\n|Total|$132|$267|$379|$213|$189|\n|FNMA, FHLMC, and GNMA %|94%|87%|86%|88%|91%|\n", + "CONSOLIDATED INCOME STATEMENT REVIEW Our Consolidated Income Statement is presented in Item 8 of this Report.", + "Net income for 2017 was $5.4 billion, or $10.36 per diluted common share, an increase of 35% compared with $4.0 billion, or $7.30 per diluted common share, for 2016.", + "Higher net income was driven by an 8% increase in total revenue and a tax benefit from the new federal tax legislation, partially offset by a 10% increase in noninterest expense.", + "Revenue growth resulted from a 9% increase in net interest income and a 7% increase in noninterest income.", + "Net Interest Income Table 1: Summarized Average Balances and Net Interest Income (a)", + "||2017|2016|\n|Year Ended December 31Dollars in millions|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|\n|Assets|||||||\n|Interest-earning assets|||||||\n|Investment securities|$75,057|2.74%|$2,059|$72,046|2.62%|$1,889|\n|Loans|217,271|3.86%|8,390|208,817|3.61%|7,543|\n|Interest-earning deposits with banks|24,043|1.11%|267|26,328|.52%|136|\n|Other|8,983|3.48%|313|7,843|3.56%|279|\n|Total interest-earning assets/interest income|$325,354|3.39%|11,029|$315,034|3.13%|9,847|\n|Liabilities|||||||\n|Interest-bearing liabilities|||||||\n|Interest-bearing deposits|$179,447|.35%|623|$172,764|.25%|430|\n|Borrowed funds|56,889|1.90%|1,083|52,939|1.57%|831|\n|Total interest-bearing liabilities/interest expense|$236,336|.72%|1,706|$225,703|.56%|1,261|\n|Net interest income/margin (Non-GAAP)||2.87%|9,323||2.73%|8,586|\n|Taxable-equivalent adjustments|||-215|||-195|\n|Net interest income (GAAP)|||$9,108|||$8,391|\n", + "(a) Interest income calculated as taxable-equivalent interest income.", + "To provide more meaningful comparisons of interest income and yields for all interest-earning assets, as well as net interest margins, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under GAAP on the Consolidated Income Statement.", + "For more information, see Reconciliation of Taxable-Equivalent Net Interest Income in the Statistical Information (Unaudited) section in Item 8 of this Report.", + "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) \u2013 Average Consolidated Balance Sheet And Net Interest Analysis and Analysis Of Year-To-Year Changes In Net Interest Income in Item 8 of this Report.", + "Net interest income increased $717 million, or 9%, in 2017 compared with 2016 due to increases in loan and securities balances and yields, partially offset by an increase in borrowing and deposit costs.", + "Net interest margin increased largely reflecting the benefit to loans and securities yields from higher interest rates in 2017.", + "Average investment securities increased $3.0 billion, or 4%, reflecting net purchases of U. S. Treasury and government agency securities of $2.9 billion and agency residential mortgage-backed securities of $2.8 billion, partially offset by declines in average commercial mortgage-backed securities of $1.6 billion and non-agency residential mortgage-backed securities of $.8 billion.", + "Total investment securities were 23% of average interest-earning assets in both 2017 and 2016.", + "Average loans grew by $8.5 billion, or 4%, reflecting an increase in average commercial lending of $8.4 billion driven by broad-based growth in our Corporate Banking, Real Estate, Equipment Finance and Business Credit businesses in our Commercial & Institutional Banking segment.", + "Growth in Equipment Finance included the impact of the acquisition of a commercial and vendor finance business with $1.0 billion of loans and leases in the second quarter of 2017.", + "Average consumer lending increased $.1 billion in the comparison, as growth in average residential real estate, automobile and credit card loans was substantially offset by declines in average home equity and education loans.", + "These declines reflected run-off in the non-strategic consumer loan portfolios of brokered home equity and government guaranteed education loans.", + "Average loans represented 67% of average interest\u0002earning assets in 2017 compared to 66% in 2016.", + "Average total deposits increased $7.2 billion, or 3%, primarily due to growth in average interest-bearing deposits of $6.7 billion, or 4%, driven by higher average savings deposits of $13.1 billion.", + "This increase reflected a shift, in part, to relationship-based savings products from money market deposits, which decreased $9.2 billion.", + "Additionally, average interest-bearing demand deposits grew $4.3 billion, mainly" + ], + "question_id": "simplong-test-145", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of the Municipal bonds for Available-for-sale debt securities for TotalFair Value in the years where Total segment revenu is greater than 1700? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "higher in the fiscal 2013 period, including about $100 million for higher staffing expenses, about $60 million for higher advertising and other marketing program expenses, and about $23 million for higher share-based compensation expenses.", + "See \u201cCost of Revenue\u201d and \u201cOperating Expenses\u201d later in this Item 7 for more information.", + "Net income from continuing operations increased 8% in fiscal 2013 compared with fiscal 2012 due to higher operating income and lower interest expense due to the repayment of debt in March 2012.", + "Diluted net income per share from continuing operations for fiscal 2013 increased 8% to $2.72, in line with the increase in net income compared with fiscal 2012.", + "Segment Results The information below is organized in accordance with our three reportable segments.", + "All of our segments operate primarily in the United States and sell primarily to customers in the United States.", + "International total net revenue was approximately 5% of consolidated total net revenue for all periods presented.", + "Segment operating income is segment net revenue less segment cost of revenue and operating expenses.", + "Segment expenses do not include certain costs, such as corporate selling and marketing, product development, and general and administrative expenses and share-based compensation expenses, which are not allocated to specific segments.", + "These unallocated costs totaled $890 million in fiscal 2014, $809 million in fiscal 2013, and $724 million in fiscal 2012.", + "Unallocated costs increased in fiscal 2014 compared with fiscal 2013 and in fiscal 2013 compared with fiscal 2012 due to increases in corporate product development and selling and marketing expenses in support of the growth of our businesses and to a lesser extent due to increases in share-based compensation expenses.", + "Segment expenses also do not include amortization of acquired technology, amortization of other acquired intangible assets, and goodwill and intangible asset impairment charges.", + "See Note 14 to the financial statements in Item 8 of this Annual Report for reconciliations of total segment operating income to consolidated operating income from continuing operations for each fiscal year presented.", + "We calculate revenue growth rates and segment operating margin figures using dollars in thousands.", + "Those results may vary slightly from figures calculated using the dollars in millions presented.", + "Small Business", + "|(Dollars in millions)|Fiscal2014|Fiscal2013|Fiscal2012|2014-2013% Change|2013-2012% Change|\n|Product revenue|$851|$849|$811|||\n|Service and other revenue|1,402|1,208|968|||\n|Total segment revenue|$2,253|$2,057|$1,779|10%|16%|\n|% of total revenue|50%|49%|47%|||\n|Segment operating income|$843|$800|$712|5%|13%|\n|% of related revenue|37%|39%|40%|||\n", + "Service and other revenue in our Small Business segment is derived primarily from QuickBooks Online and QuickBooks Online Accountant, our hosted financial and business management offerings; QuickBooks Pro Plus, QuickBooks Premier Plus, and QuickBooks Accountant Plus, our subscription offerings; QuickBooks technical support plans; small business payroll services, including Quickbooks Online Payroll, Intuit Online Payroll, Intuit Full Service Payroll, and QuickBooks Assisted Payroll; payment processing services for small businesses; Demandforce; and QuickBase.", + "Product revenue in our Small Business segment is derived primarily from QuickBooks desktop software products, including QuickBooks Pro, QuickBooks Premier, QuickBooks Accountant, and QuickBooks Enterprise Solutions; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program subscriptions for the accounting professionals who serve small businesses; and financial supplies.", + "As part of our connected services strategy, over the past several quarters we have been focusing Small Business segment resources on the enhancement and marketing of our QuickBooks Online and QuickBooks desktop subscription offerings.", + "As a result, QuickBooks desktop license units and revenue have been declining as more customers choose our hosted and subscription offerings and we expect this trend to continue.", + "In our payments business we have recently begun focusing resources on core offerings for QuickBooks merchants in support of our small business ecosystem approach.", + "Over the next few quarters we anticipate declining revenue for certain non-QuickBooks payments offerings that may slow overall revenue growth in our payments business.", + "Fiscal 2014 Compared with Fiscal 2013 Small Business segment total net revenue increased $196 million or 10% in fiscal 2014 compared with fiscal 2013.", + "Customer acquisition in our Small Business Online Ecosystem continued to drive Small Business segment revenue growth in fiscal 2014.", + "QuickBooks Online customers grew 40%, online payroll customers grew 25%, and active online payments customers grew 4%.", + "Online payments charge volume was 24% higher in fiscal 2014 compared with fiscal 2013.", + "Annualized recurring revenue (ARR) for our Small Business Online Ecosystem grew 34% in fiscal 2014 compared with fiscal 2013.", + "In our Small Business Desktop Ecosystem, revenue from QuickBooks desktop software licenses declined 9% on 10% lower unit sales while revenue from QuickBooks Enterprise Solutions grew 25% and revenue from QuickBooks Plus subscriptions grew 16% in fiscal 2014.", + "Revenue for certain non-core payments offerings was lower in fiscal 2014.", + "Small Business segment operating income as a percentage of related revenue decreased in fiscal 2014 compared with fiscal 2013.", + "The increase in segment revenue described above was partially offset by $73 million in higher staffing expenses due to an increase in headcount and $35 million in higher advertising and other marketing program expenses.", + "Fiscal 2013 Compared with Fiscal 2012 Small Business segment total net revenue increased $278 million or 16% in fiscal 2013 compared with fiscal 2012.", + "When adjusted to exclude revenue from Demandforce, which we acquired in May 2012, Small Business segment revenue was 12% higher in fiscal 2013.", + "Customer acquisition in our Small Business Online Ecosystem drove organic Small Business segment revenue growth in fiscal 2013.", + "QuickBooks Online customers grew 28%, online payroll customers grew 18%, and active online payments customers grew 21%.", + "Online payments charge volume was 37% higher in fiscal 2013 compared with fiscal 2012.", + "In our Small Business Desktop Ecosystem, revenue from QuickBooks desktop software licenses was flat on 6% lower unit sales while revenue from QuickBooks Enterprise Solutions grew 10% and revenue from QuickBooks Plus subscriptions more than doubled in fiscal 2013.", + "Small Business segment operating income as a percentage of related revenue decreased slightly in fiscal 2013 compared with fiscal 2012.", + "The increase in segment revenue described above was partially offset by higher segment costs and expenses that included costs and expenses for Demandforce.", + "Fiscal 2013 staffing expenses were about $100 million higher, driven by an increase in headcount.", + "Advertising and other marketing program expenses also increased.", + "Consumer", + "|(Dollars in millions)|Fiscal2014|Fiscal2013|Fiscal2012|2014-2013% Change|2013-2012% Change|\n|Product revenue|$309|$324|$334|||\n|Service and other revenue|1,522|1,384|1,307|||\n|Total segment revenue|$1,831|$1,708|$1,641|7%|4%|\n|% of total revenue|41%|41%|43%|||\n|Segment operating income|$1,139|$1,035|$965|10%|7%|\n|% of related revenue|62%|61%|59%|||\n", + "Our Consumer segment includes our Consumer Tax and Consumer Ecosystem product lines.", + "Consumer Tax service and other revenue is derived primarily from TurboTax Online tax return preparation services and electronic tax filing services.", + "Consumer Tax product revenue is derived primarily from TurboTax desktop tax return preparation software.", + "Consumer Ecosystem product revenue is derived primarily from Quicken desktop personal finance software products.", + "Consumer Ecosystem service and other revenue is derived primarily from mobile and online consumer finance offerings as well as from online lead generation fees from our Mint personal finance offerings.", + "2.", + "Fair Value Measurements Fair Value Hierarchy The authoritative guidance defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.", + "When determining fair value, we consider the principal or most advantageous market for an asset or liability and assumptions that market participants would use when pricing the asset or liability.", + "In addition, we consider and use all valuation methods that are appropriate in estimating the fair value of an asset or liability.", + "The authoritative guidance establishes a fair value hierarchy that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities.", + "In general, the authoritative guidance requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.", + "An asset or liability\u2019s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the measurement of its fair value.", + "The three levels of input defined by the authoritative guidance are as follows: ?", + "Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. ?", + "Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data.", + "These include quoted prices in active markets for similar assets or liabilities: quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data for substantially the full term of the assets or liabilities. ?", + "Level 3 uses one or more unobservable inputs that are supported by little or no market activity and that are significant to the determination of fair value.", + "Level 3 assets and liabilities include those whose fair values are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation.", + "Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes financial assets and financial liabilities that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above.", + "||At July 31, 2014|At July 31, 2013|\n|(In millions)|Level 1|Level 2|Level 3|TotalFair Value|Level 1|Level 2|Level 3|TotalFair Value|\n|Assets:|||||||||\n|Cash equivalents, primarily money market funds|$652|$\u2014|$\u2014|$652|$917|$\u2014|$\u2014|$917|\n|Available-for-sale debt securities:|||||||||\n|Municipal bonds|\u2014|701|\u2014|701|\u2014|489|\u2014|489|\n|Municipal auction rate securities|\u2014|\u2014|21|21|\u2014|\u2014|33|33|\n|Corporate notes|\u2014|466|\u2014|466|\u2014|269|\u2014|269|\n|U.S. agency securities|\u2014|42|\u2014|42|\u2014|69|\u2014|69|\n|Available-for-sale corporate equity securities|\u2014|\u2014|\u2014|\u2014|33|\u2014|\u2014|33|\n|Total available-for-sale securities|\u2014|1,209|21|1,230|33|827|33|893|\n|Total assets measured at fair value on a recurring basis|$652|$1,209|$21|$1,882|$950|$827|$33|$1,810|\n|Liabilities:|||||||||\n|Senior notes -1|$\u2014|$556|$\u2014|$556|$\u2014|$560|$\u2014|$560|\n", + "(1) Carrying value on our balance sheets at July 31, 2014 was $499 million and at July 31, 2013 was $499 million.", + "See Note 9.", + "Table of Contents VALERO ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Commodity Price Risk We are exposed to market risks related to the volatility in the price of crude oil, refined products (primarily gasoline and distillate), grain (primarily corn), and natural gas used in our operations.", + "To reduce the impact of price volatility on our results of operations and cash flows, we use commodity derivative instruments, including futures, swaps, and options.", + "We use the futures markets for the available liquidity, which provides greater flexibility in transacting our hedging and trading operations.", + "We use swaps primarily to manage our price exposure.", + "Our positions in commodity derivative instruments are monitored and managed on a daily basis by a risk control group to ensure compliance with our stated risk management policy that has been approved by our board of directors.", + "For risk management purposes, we use fair value hedges, cash flow hedges, and economic hedges.", + "In addition to the use of derivative instruments to manage commodity price risk, we also enter into certain commodity derivative instruments for trading purposes.", + "Our objective for entering into each type of hedge or trading derivative is described below.", + "Fair Value Hedges Fair value hedges are used to hedge price volatility in certain refining inventories and firm commitments to purchase inventories.", + "The level of activity for our fair value hedges is based on the level of our operating inventories, and generally represents the amount by which our inventories differ from our previous year-end LIFO inventory levels.", + "As of December 31, 2012, we had the following outstanding commodity derivative instruments that were entered into to hedge crude oil and refined product inventories and commodity derivative instruments related to the physical purchase of crude oil and refined products at a fixed price.", + "The information presents the notional volume of outstanding contracts by type of instrument and year of maturity (volumes in thousands of barrels)." + ], + "question_id": "simplong-test-146", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percent of the increase the additions for new sales of the repurchase reserve from 2008 to 2009", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Citigroup\u2019s repurchases are primarily from Government Sponsored Entities.", + "The specific representations and warranties made by the Company depend on the nature of the transaction and the requirements of the buyer.", + "Market conditions and credit-ratings agency requirements may also affect representations and warranties and the other provisions the Company may agree to in loan sales.", + "In the event of a breach of the representations and warranties, the Company may be required to either repurchase the mortgage loans (generally at unpaid principal balance plus accrued interest) with the identified defects or indemnify (\u201cmake-whole\u201d) the investor or insurer.", + "The Company has recorded a repurchase reserve that is included in Other liabilities in the Consolidated Balance Sheet.", + "In the case of a repurchase, the Company will bear any subsequent credit loss on the mortgage loans.", + "The Company\u2019s representations and warranties are generally not subject to stated limits in amount or time of coverage.", + "However, contractual liability arises only when the representations and warranties are breached and generally only when a loss results from the breach.", + "In the case of a repurchase, the loan is typically considered a credit\u0002impaired loan and accounted for under SOP 03-3, \u201cAccounting for Certain Loans and Debt Securities, Acquired in a Transfer\u201d (now incorporated into ASC 310-30, Receivables\u2014Loans and Debt Securities Acquired with Deteriorated Credit Quality).", + "These repurchases have not had a material impact on nonperforming loan statistics, because credit-impaired purchased SOP 03-3 loans are not included in nonaccrual loans.", + "The Company estimates its exposure to losses from its obligation to repurchase previously sold loans based on the probability of repurchase or make-whole and an estimated loss given repurchase or make-whole.", + "This estimate is calculated separately by sales vintage (i. e. , the year the loans were sold) based on a combination of historical trends and forecasted repurchases and losses considering the: (1) trends in requests by investors for loan documentation packages to be reviewed; (2) trends in recent repurchases and make-wholes; (3) historical percentage of claims made as a percentage of loan documentation package requests; (4) success rate in appealing claims; (5) inventory of unresolved claims; and (6) estimated loss given repurchase or make-whole, including the loss of principal, accrued interest, and foreclosure costs.", + "The Company does not change its estimation methodology by counterparty, but the historical experience and trends are considered when evaluating the overall reserve.", + "The request for loan documentation packages is an early indicator of a potential claim.", + "During 2009, loan documentation package requests and the level of outstanding claims increased.", + "In addition, our loss severity estimates increased during 2009 due to the impact of macroeconomic factors and recent experience.", + "These factors contributed to a $493 million change in estimate for this reserve in 2009.", + "As indicated above, the repurchase reserve is calculated by sales vintage.", + "The majority of the repurchases in 2009 were from the 2006 and 2007 sales vintages, which also represent the vintages with the largest loss\u0002given-repurchase.", + "An insignificant percentage of 2009 repurchases were from vintages prior to 2006, and this is expected to decrease, because those vintages are later in the credit cycle.", + "Although early in the credit cycle, the Company has experienced improved repurchase and loss-given-repurchase statistics from the 2008 and 2009 vintages.", + "In the case of a repurchase of a credit-impaired SOP 03-3 loan (now incorporated into ASC 310-30), the difference between the loan\u2019s fair value and unpaid principal balance at the time of the repurchase is recorded as a utilization of the repurchase reserve.", + "Payments to make the investor whole are also treated as utilizations and charged directly against the reserve.", + "The provision for estimated probable losses arising from loan sales is recorded as an adjustment to the gain on sale, which is included in Other revenue in the Consolidated Statement of Income.", + "A liability for representations and warranties is estimated when the Company sells loans and is updated quarterly.", + "Any subsequent adjustment to the provision is recorded in Other revenue in the Consolidated Statement of Income.", + "The activity in the repurchase reserve for the years ended December 31, 2009 and 2008 is as follows:", + "|In millions of dollars|2009|2008|\n|Balance, beginning of the year|$75|$2|\n|Additions for new sales|33|23|\n|Change in estimate|493|59|\n|Utilizations|-119|-9|\n|Balance, end of the year|$482|$75|\n", + "Goodwill Goodwill represents an acquired company\u2019s acquisition cost over the fair value of net tangible and intangible assets acquired.", + "Goodwill is subject to annual impairment tests, whereby Goodwill is allocated to the Company\u2019s reporting units and an impairment is deemed to exist if the carrying value of a reporting unit exceeds its estimated fair value.", + "Furthermore, on any business dispositions, Goodwill is allocated to the business disposed of based on the ratio of the fair value of the business disposed of to the fair value of the reporting unit.", + "Intangible Assets Intangible assets\u2014including core deposit intangibles, present value of future profits, purchased credit card relationships, other customer relationships, and other intangible assets, but excluding MSRs\u2014are amortized over their estimated useful lives.", + "Intangible assets deemed to have indefinite useful lives, primarily certain asset management contracts and trade names, are not amortized and are subject to annual impairment tests.", + "An impairment exists if the carrying value of the indefinite-lived intangible asset exceeds its fair value.", + "For other Intangible assets subject to amortization, an impairment is recognized if the carrying amount is not recoverable and exceeds the fair value of the Intangible asset.", + "Other Assets and Other Liabilities Other assets include, among other items, loans held-for-sale, deferred tax assets, equity-method investments, interest and fees receivable, premises and equipment, end-user derivatives in a net receivable position, repossessed assets, and other receivables.", + "This table does not include: ?", + "certain venture capital investments made by some of the Company\u2019s private equity subsidiaries, as the Company accounts for these investments in accordance with the Investment Company Audit Guide; ?", + "certain limited partnerships where the Company is the general partner and the limited partners have the right to replace the general partner or liquidate the funds; ?", + "certain investment funds for which the Company provides investment management services and personal estate trusts for which the Company provides administrative, trustee and/or investment management services; ?", + "VIEs structured by third parties where the Company holds securities in inventory.", + "These investments are made on arm\u2019s-length terms; and ?", + "transferred assets to a VIE where the transfer did not qualify as a sale and where the Company did not have any other involvement that is deemed to be a variable interest with the VIE.", + "These transfers are accounted for as secured borrowings by the Company.", + "The asset balances for consolidated VIEs represent the carrying amounts of the assets consolidated by the Company.", + "The carrying amount may represent the amortized cost or the current fair value of the assets depending on the legal form of the asset (e. g. , security or loan) and the Company\u2019s standard accounting policies for the asset type and line of business.", + "he asset balances for unconsolidated VIEs where the Company has significant involvement represent the most current information available to the Company.", + "In most cases, the asset balances represent an amortized cost basis without regard to impairments in fair value, unless fair value information is readily available to the Company.", + "For VIEs that obtain asset exposures synthetically through derivative instruments (for example, synthetic CDOs), the table includes the full original notional amount of the derivative as an asset.", + "The maximum funded exposure represents the balance sheet carrying amount of the Company\u2019s investment in the VIE.", + "It reflects the initial amount of cash invested in the VIE plus any accrued interest and is adjusted for any impairments in value recognized in earnings and any cash principal payments received.", + "The maximum exposure of unfunded positions represents the remaining undrawn committed amount, including liquidity and credit facilities provided by the Company, or the notional amount of a derivative instrument considered to be a variable interest, adjusted for any declines in fair value recognized in earnings.", + "In certain transactions, the Company has entered into derivative instruments or other arrangements that are not considered variable interests in the VIE (e. g. , interest rate swaps, cross\u0002currency swaps, or where the Company is the purchaser of credit protection under a credit default swap or total return swap where the Company pays the total return on certain assets to the SPE).", + "Receivables under such arrangements are not included in the maximum exposure amounts.", + "Funding Commitments for Significant Unconsolidated VIEs\u2014 Liquidity Facilities and Loan Commitments The following table presents the notional amount of liquidity facilities and loan commitments that are classified as funding commitments in the SPE table as of December 31, 2009:", + "|In millions of dollars|Liquidity Facilities|LoanCommitments|\n|Citicorp|||\n|Citi-administered asset-backed commercial paper conduits (ABCP)|$20,486|$1,718|\n|Third-party commercial paper conduits|353|\u2014|\n|Asset-based financing|\u2014|549|\n|Municipal securities tender option bond trusts (TOBs)|6,304|\u2014|\n|Municipal investments|\u2014|18|\n|Other|10|23|\n|Total Citicorp|$27,153|$2,308|\n|Citi Holdings|||\n|Citi-administered asset-backed commercial paper conduits (ABCP)|$11,978|$1,682|\n|Third-party commercial paper conduits|252|\u2014|\n|Collateralized loan obligations (CLOs)|\u2014|19|\n|Asset-based financing|\u2014|1,311|\n|Municipal investments|\u2014|386|\n|Investment Funds|\u2014|93|\n|Other|\u2014|257|\n|Total CitiHoldings|$12,230|$3,748|\n|Total Citigroup funding commitments|$39,383|$6,056|\n", + "TRANSACTION SERVICES Transaction Services is composed of Treasury and Trade Solutions (TTS) and Securities and Fund Services (SFS).", + "TTS provides comprehensive cash management and trade finance for corporations, financial institutions and public sector entities worldwide.", + "SFS provides custody and funds services to investors such as insurance companies and mutual funds, clearing services to intermediaries such as broker-dealers, and depository and agency/trust services to multinational corporations and governments globally.", + "Revenue is generated from net interest revenue on deposits in TTS and SFS, as well as trade loans and from fees for transaction processing and fees on assets under custody in SFS.", + "|In millions of dollars|2009|2008|2007|% Change 2009 vs. 2008|% Change 2008 vs. 2007|\n|Net interest revenue|$5,651|$5,485|$4,254|3%|29%|\n|Non-interest revenue|4,138|4,461|3,844|-7|16|\n|Total revenues, net of interest expense|$9,789|$9,946|$8,098|-2%|23%|\n|Total operating expenses|4,515|5,156|4,634|-12|11|\n|Provisions for credit losses and for benefits and claims|7|35|-30|-80|NM|\n|Income before taxes and noncontrolling interests|$5,267|$4,755|$3,494|11%|36%|\n|Income taxes|1,531|1,402|1,038|9|35|\n|Income from continuing operations|3,736|3,353|2,456|11|37|\n|Net income attributable to noncontrolling interests|13|31|20|-58|55|\n|Net income|$3,723|$3,322|$2,436|12%|36%|\n|Average assets(in billions of dollars)|$60|$71|$69|-15%|3%|\n|Return on assets|6.21%|4.68%|3.53%|||\n|Revenues by region||||||\n|North America|$2,526|$2,161|$1,646|17%|31%|\n|EMEA|3,389|3,677|2,999|-8|23|\n|Latin America|1,373|1,439|1,199|-5|20|\n|Asia|2,501|2,669|2,254|-6|18|\n|Total revenues|$9,789|$9,946|$8,098|-2%|23%|\n|Income from continuing operations by region||||||\n|North America|$615|$323|$209|90%|55%|\n|EMEA|1,287|1,246|816|3|53|\n|Latin America|604|588|463|3|27|\n|Asia|1,230|1,196|968|3|24|\n|Total net income from continuing operations|$3,736|$3,353|$2,456|11%|37%|\n|Key indicators(in billions of dollars)||||||\n|Average deposits and other customer liability balances|$303|$280|$246|8%|14%|\n|EOP assets under custody(in trillions of dollars)|12.1|11.0|13.1|10|-16|\n", + "2009 vs. 2008 Revenues, net of interest expense declined 2% compared to 2008 as strong growth in balances was more than offset by lower spreads driven by low interest rates globally.", + "Average deposits and other customer liability balances grew 8%, driven by strong growth in all regions.", + "Treasury and Trade Solutions revenues grew 7% as a result of strong growth in balances and higher trade revenues.", + "Securities and Funds Services revenues declined 18%, attributable to reductions in asset valuations and volumes.", + "Operating expenses declined 12%, mainly as a result of headcount reductions and successful execution of reengineering initiatives.", + "Cost of credit declined 80%, which was primarily attributable to overall portfolio management.", + "Net income increased 12%, leading to a record net income, with growth across all regions reflecting benefits of continued re-engineering and expense management efforts.2008 vs. 2007 Revenues, net of interest expense grew 23% driven by new business and implementations, growth in customer liability balances, increased transaction volumes and the impact of acquisitions.", + "Average deposits and other customer liability balances grew 14% driven by success of new business growth and implementations.", + "Treasury and Trade Solutions revenues grew 26% as a result of strong liability and fee growth as well as increased client penetration.", + "Securities and Funds Services revenues grew 17% as a result of increased assets under custody, volumes and liability balances.2010 Outlook Transaction Services business performance will continue to be impacted in 2010 by levels of interest rates, economic activity, volatility in global capital markets, foreign exchange and market valuations globally.", + "Levels of client activity and client cash and security flows are key factors dependent on macroeconomic conditions.", + "Transaction Services intends to continue to invest in technology to support its global network, as well as investments to build out its investor services suite of products aimed at large, under\u0002penetrated markets for middle and back office outsourcing among a range of investors.", + "These and similar investments could lead to increasing operating expenses.", + "BROKERAGE AND ASSET MANAGEMENT Brokerage and Asset Management (BAM), which constituted approximately 6% of Citi Holdings by assets as of December 31, 2009, consists of Citi\u2019s global retail brokerage and asset management businesses.", + "This segment was substantially affected and reduced in size in 2009 due to the divestitures of Smith Barney (to the Morgan Stanley Smith Barney joint venture (MSSB JV)) and Nikko Cordial Securities.", + "At December 31, 2009, BAM had approximately $35 billion of assets, which included $26 billion of assets from the 49% interest in the MSSB JV ($13 billion investment and $13 billion in loans associated with the clients of the MSSB JV) and $9 billion of assets from a diverse set of asset management and insurance businesses of which approximately half will be transferred into the LATAM RCB during the first quarter of 2010, as discussed under \u201cCiti Holdings\u201d above.", + "Morgan Stanley has options to purchase Citi\u2019s remaining stake in the MSSB JV over three years starting in 2012.", + "The 2009 results include an $11.1 billion gain ($6.7 billion after-tax) on the sale of Smith Barney." + ], + "question_id": "simplong-test-147", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Seattle Metro of As of December 31, 2010 Apartment Units, and Huntington Breakers of RentableSquareFootage ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables describe the Company\u2019s Portfolio as of December 31, 2011.", + "The first table describes the Company\u2019s communities and the second table describes the Company\u2019s other real estate assets.", + "(See Note 7 of the Company\u2019s consolidated financial statements for more information about the Company\u2019s secured mortgage debt and Schedule III for a list of secured mortgage loans related to the Company\u2019s Portfolio. )", + "|Communities-1|Location|Units|RentableSquareFootage|YearBuilt|YearAcquired|Occupancy-2|\n|Southern California|||||||\n|Alpine Country|Alpine, CA|108|81,900|1986|2002|95%|\n|Alpine Village|Alpine, CA|301|254,400|1971|2002|97%|\n|Anavia|Anaheim, CA|250|312,343|2009|2010|92%|\n|Barkley, The-3(4)|Anaheim, CA|161|139,800|1984|2000|97%|\n|Bonita Cedars|Bonita, CA|120|120,800|1983|2002|96%|\n|Camarillo Oaks|Camarillo, CA|564|459,000|1985|1996|96%|\n|Camino Ruiz Square|Camarillo, CA|160|105,448|1990|2006|98%|\n|Cielo -5|Chatsworth, CA|119|125,400|2009|2009|96%|\n|Cambridge|Chula Vista, CA|40|22,100|1965|2002|96%|\n|Mesa Village|Clairemont, CA|133|43,600|1963|2002|98%|\n|Parcwood-5|Corona, CA|312|270,000|1989|2004|95%|\n|Tierra del Sol/Norte|El Cajon, CA|156|117,000|1969|2002|97%|\n|Regency at Encino|Encino, CA|75|78,487|1989|2009|96%|\n|Valley Park-6|Fountain Valley, CA|160|169,700|1969|2001|97%|\n|Capri at Sunny Hills-6|Fullerton, CA|100|128,100|1961|2001|97%|\n|Wilshire Promenade|Fullerton, CA|149|128,000|1992|1997|97%|\n|Montejo-6|Garden Grove, CA|124|103,200|1974|2001|96%|\n|CBC Apartments|Goleta, CA|148|91,538|1962|2006|96%|\n|Chimney Sweep Apartments|Goleta, CA|91|88,370|1967|2006|83%|\n|416 on Broadway|Glendale, CA|115|126,782|2009|2010|93%|\n|Hampton Court|Glendale, CA|83|71,500|1974|1999|97%|\n|Hampton Place|Glendale, CA|132|141,500|1970|1999|97%|\n|Devonshire|Hemet, CA|276|207,200|1988|2002|94%|\n|Huntington Breakers|Huntington Beach, CA|342|241,700|1984|1997|96%|\n|Axis 2300|Irvine, CA|115|170,714|2010-7|2010|96%|\n|Hillsborough Park|La Habra, CA|235|215,500|1999|1999|97%|\n|Trabuco Villas|Lake Forest, CA|132|131,000|1985|1997|97%|\n|Marbrisa|Long Beach, CA|202|122,800|1987|2002|97%|\n|Pathways|Long Beach, CA|296|197,700|1975-8|1991|96%|\n|Belmont Station|Los Angeles, CA|275|225,000|2008|2008|97%|\n|Bellerive|Los Angeles, CA|63|79,296|2011|2011|99%|\n|Bunker Hill|Los Angeles, CA|456|346,600|1968|1998|96%|\n|Cochran Apartments|Los Angeles, CA|58|51,400|1989|1998|97%|\n|Kings Road|Los Angeles, CA|196|132,100|1979-9|1997|97%|\n|Marbella, The|Los Angeles, CA|60|50,108|1991|2005|97%|\n|Park Place|Los Angeles, CA|60|48,000|1988|1997|97%|\n|Renaissance, The-5|Los Angeles, CA|169|154,268|1990-10|2006|97%|\n|Santee Court|Los Angeles, CA|165|132,040|2004|2010|93%|\n|Santee Village|Los Angeles, CA|73|69,817|2011|2010|99%|\n|Windsor Court|Los Angeles, CA|58|46,600|1988|1997|97%|\n|Marina City Club-11|Marina Del Rey, CA|101|127,200|1971|2004|98%|\n|Mirabella|Marina Del Rey, CA|188|176,800|2000|2000|97%|\n|Mira Monte|Mira Mesa, CA|355|262,600|1982-12|2002|97%|\n|Hillcrest Park|Newbury Park, CA|608|521,900|1973|1998|96%|\n|Fairways-13|Newport Beach, CA|74|107,100|1972|1999|98%|\n|Muse|North Hollywood, CA|152|135,292|2011|2011|99%|\n|Country Villas|Oceanside, CA|180|179,700|1976|2002|96%|\n|Mission Hills|Oceanside, CA|282|244,000|1984|2005|96%|\n|Mariners Place|Oxnard, CA|105|77,200|1987|2000|97%|\n|Monterey Villas|Oxnard, CA|122|122,100|1974|1997|96%|\n|Tierra Vista|Oxnard, CA|404|387,100|2001|2001|97%|\n|Arbors Parc Rose-14|Oxnard, CA|373|503,196|2001|2011|94%|\n|Monterra del Mar|Pasadena, CA|123|74,400|1972|1997|96%|\n|Monterra del Rey|Pasadena, CA|84|73,100|1972|1999|97%|\n|Monterra del Sol|Pasadena, CA|85|69,200|1972|1999|97%|\n|Villa Angelina-6|Placentia, CA|256|217,600|1970|2001|97%|\n", + "As of December 31, 2011, the Company had ownership interests in 159 communities, comprising 32,753 apartment units, and the apartment communities are located in the following major West Coast regions: Southern California (Los Angeles, Orange, Riverside, Santa Barbara, San Diego, and Ventura counties) Northern California (the San Francisco Bay Area) Seattle Metro (Seattle metropolitan area) As of December 31, 2011, the Company also had ownership interests in five commercial buildings (with approximately 315,900 square feet).", + "As of December 31, 2011, the Company\u2019s development pipeline was comprised of five unconsolidated joint venture projects under development, one unconsolidated joint venture predevelopment project and three consolidated land parcels held for future development or sale aggregating 2,014 units, with total incurred costs of $227.1 million, and estimated remaining project costs of approximately $282.6 million for total estimated project costs of $422.6 million.", + "By region, the Company's operating results for 2010 and 2011 and projections for 2012 new housing supply, job growth, and rental income as follows: Southern California Region: As of December 31, 2011, this region represented 48% of the Company\u2019s consolidated apartment units.", + "During the year ended December 31, 2011, revenues for \u201c2011/2010 Same\u0002Properties\u201d (as defined below), or \u201cSame-Property revenues,\u201d increased 2.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply (excluding Santa Barbara and Riverside counties) of 5,400 multifamily and 5,100 single family homes, which represents a total new supply of 0.2% and 0.1% of existing stock, respectively.", + "The Company assumes an increase of 78,800 jobs or 1.2%, and an increase in rental income of 3.0% to 5.0% in 2012.", + "Northern California Region: As of December 31, 2011, this region represented 30% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 5.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 3,000 multifamily and 2,200 single family homes, which represents a total new supply of 0.3% and 0.2%, respectively, of existing stock.", + "The Company assumes an increase of 48,000 jobs or 1.7%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "Seattle Metro Region: As of December 31, 2011, this region represented 22% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 4.6% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 1,800 multifamily and 3,400 single family homes, which represents a total new supply of 0.5% of existing stock.", + "The Company assumes an increase of 25,000 jobs or 1.8%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "The Company expects 2012 same-property revenues to increase between 5% and 7% compared to 2011 results, as renewal leases and new leases are signed at higher rents than 2011 during 2012.", + "The Company expects same\u0002property financial occupancy to be consistent with 2011 at 96.4%, thus 2012 revenues will increase 5% to 7% due to a similar increase in scheduled rent.", + "Same-property operating expenses are expected to increase from 1.1% in 2011, to a range of 2% and 3% in 2012.", + "Finally, same-property net operating income (\u201cNOI\u201d) which is defined as same\u0002property revenues less same-property operating expenses is expected to increase from 5.5% for 2011 to a range of 7% to 9% in 2012.", + "The Company\u2019s consolidated communities are as follows:", + "||As of December 31, 2011|As of December 31, 2010|\n||Apartment Units|%|Apartment Units|%|\n|Southern California|13,205|48%|13,076|49%|\n|Northern California|8,106|30%|7,696|29%|\n|Seattle Metro|6,108|22%|5,980|22%|\n|Total|27,419|100%|26,752|100%|\n", + "Co-investments including Fund II and Wesco I communities, Essex Skyline at MacArthur Place, and preferred equity co-investment communities are not included in the table presented above for both years.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Liquidity and Capital Resources Snap-on\u2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing.", + "Snap-on believes that its cash from operations and collections of finance receivables, coupled with its sources of borrowings and available cash on hand, are sufficient to fund its currently anticipated requirements for scheduled debt payments (including the March 2014 repayment of $100.0 million of 5.85% unsecured notes upon maturity), payments of interest and dividends, new receivables originated by our financial services businesses, capital expenditures, working capital, restructuring activities, the funding of pension plans, and funding for additional share repurchases and acquisitions, if any.", + "Due to Snap-on\u2019s credit rating over the years, external funds have been available at an acceptable cost.", + "As of the close of business on February 7, 2014, Snap-on\u2019s long-term debt and commercial paper were rated, respectively, A3 and P-2 by Moody\u2019s Investors Service; A- and A-2 by Standard & Poor\u2019s; and A- and F2 by Fitch Ratings.", + "Snap-on believes that its current credit arrangements are sound and that the strength of its balance sheet affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions.", + "However, Snap-on cannot provide any assurances of the availability of future financing or the terms on which it might be available, or that its debt ratings may not decrease.", + "The following discussion focuses on information included in the accompanying Consolidated Balance Sheets.", + "As of 2013 year end, working capital (current assets less current liabilities) of $1,080.8 million increased $1.0 million from $1,079.8 million as of 2012 year end.", + "The following represents the company\u2019s working capital position as of 2013 and 2012 year end:", + "|(Amounts in millions)|2013|2012|\n|Cash and cash equivalents|$217.6|$214.5|\n|Trade and other accounts receivable \u2013 net|531.6|497.9|\n|Finance receivables \u2013 net|374.6|323.1|\n|Contract receivables \u2013 net|68.4|62.7|\n|Inventories \u2013 net|434.4|404.2|\n|Other current assets|169.6|166.6|\n|Total current assets|1,796.2|1,669.0|\n|Notes payable and current maturities of long-term debt|-113.1|-5.2|\n|Accounts payable|-155.6|-142.5|\n|Other current liabilities|-446.7|-441.5|\n|Total current liabilities|-715.4|-589.2|\n|Working capital|$1,080.8|$1,079.8|\n", + "Cash and cash equivalents of $217.6 million as of 2013 year end compared to cash and cash equivalents of $214.5 million at 2012 year end.", + "The $3.1 million net increase in cash and cash equivalents includes the impacts of (i) $508.8 million of cash from collections of finance receivables; (ii) $392.6 million of cash generated from operations, net of $24.3 million of discretionary cash contributions to the company\u2019s pension plans; (iii) $29.2 million of cash proceeds from stock purchase and option plan exercises; and (iv) $8.4 million of cash proceeds from the sale of property and equipment.", + "These increases in cash and cash equivalents were largely offset by (i) the funding of $651.3 million of new finance receivables; (ii) dividend payments to shareholders of $92.0 million; (iii) the repurchase of 926,000 shares of the company\u2019s common stock for $82.6 million; (iv) the funding of $70.6 million of capital expenditures; and (v) the May 2013 acquisition of Challenger for a cash purchase price of $38.2 million.", + "Of the $217.6 million of cash and cash equivalents as of 2013 year end, $124.3 million was held outside of the United States.", + "Snap-on considers these non-U.", + "S. funds as permanently invested in its foreign operations to (i) provide adequate working capital; (ii) satisfy various regulatory requirements; and/or (iii) take advantage of business expansion opportunities as they arise; as such, the company does not presently expect to repatriate these funds to fund its U. S. operations or obligations.", + "The repatriation of cash from certain foreign subsidiaries could have adverse net tax consequences on the company should Snap-on be required to pay and record U. S. income taxes and foreign withholding taxes on funds that were previously considered permanently invested.", + "Alternatively, the repatriation of such cash from certain other foreign subsidiaries could result in favorable net tax consequences for the company.", + "Snap-on periodically evaluates opportunities to repatriate certain foreign cash amounts to the extent that it does not incur additional unfavorable net tax consequences." + ], + "question_id": "simplong-test-148", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average of the Efficiency for SELECTEDRATIOS in the years where Assets (b) is positive for BALANCESHEETHIGHLIGHTS? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table summarizes the notional or contractual amounts and net fair value of financial derivatives at December 31, 2013 and December 31, 2012.", + "Table 56: Financial Derivatives Summary", + "||December 31, 2013|December 31, 2012|\n|In millions|Notional/ Contractual Amount|Net Fair Value (a)|Notional/ Contractual Amount|Net Fair Value (a)|\n| Derivatives designated as hedging instruments under GAAP|||||\n|Total derivatives designated as hedging instruments|$36,197|$825|$29,270|$1,720|\n| Derivatives not designated as hedging instruments under GAAP|||||\n|Total derivatives used for residential mortgage banking activities|$119,679|$330|$166,819|$588|\n|Total derivatives used for commercial mortgage banking activities|53,149|-12|4,606|-23|\n|Total derivatives used for customer-related activities|169,534|138|163,848|30|\n|Total derivatives used for other risk management activities|2,697|-422|1,813|-357|\n|Total derivatives not designated as hedging instruments|$345,059|$34|$337,086|$238|\n|Total Derivatives|$381,256|$859|$366,356|$1,958|\n", + "(a) Represents the net fair value of assets and liabilities.2012 VERSUS 2011 CONSOLIDATED INCOME STATEMENT REVIEW Summary Results Net income for 2012 was $3.0 billion, or $5.30 per diluted common share, compared with $3.1 billion, or $5.64 per diluted common share, for 2011.", + "Revenue growth of 8% and a decline in the provision for credit losses were more than offset by a 16% increase in noninterest expense in 2012 compared to 2011.", + "Net Interest Income Net interest income increased to $9.6 billion in 2012 compared with $8.7 billion in 2011, primarily due to the impact of the RBC Bank (USA) acquisition, organic loan growth and lower funding costs.", + "The net interest margin remained relatively flat at 3.94% in 2012 compared with 3.92% in 2011.", + "The modest increase in the comparison was primarily due to a decrease in the weighted-average rate paid on total interest-bearing liabilities, primarily due to the runoff of maturing retail certificates of deposit and the redemption of additional trust preferred and hybrid capital securities during 2012, in addition to an increase in FHLB borrowings and commercial paper as lower\u0002cost funding sources.", + "This impact was mostly offset by a decrease in the yield on total interest-earning assets, which reflected lower rates on new loan volume and lower yields on new securities.", + "Noninterest Income Noninterest income increased to $5.9 billion in 2012 compared with $5.6 billion in 2011.", + "The overall increase in the comparison was primarily due to an increase in residential mortgage loan sales revenue driven by higher loan origination volume, gains on sales of Visa Class B common shares and higher corporate service fees, largely offset by higher provision for residential mortgage repurchase obligations.", + "Noninterest income as a percentage of total revenue was 38% in 2012 compared with 39% in 2011.", + "Asset management revenue increased to $1.2 billion in 2012 compared with $1.1 billion in 2011, primarily due to higher earnings from our BlackRock investment.", + "Discretionary assets under management increased to $112 billion at December 31, 2012 compared with $107 billion at December 31, 2011 driven by stronger average equity markets, positive net flows, after adjustments to total net flows for cyclical client activities, and strong sales performance.", + "Consumer services fees declined to $1.1 billion compared with $1.2 billion in 2011.", + "The decline reflected the regulatory impact of lower interchange fees on debit card transactions partially offset by customer growth.", + "As further discussed in the Retail Banking portion of the Business Segments Review section of Item 7 in our 2012 Form 10-K, the Dodd-Frank limits on interchange rates were effective October 1, 2011 and had a negative impact on revenue of approximately $314 million in 2012 and $75 million in 2011.", + "This impact was partially offset by higher volumes of merchant, customer credit card and debit card transactions and the impact of the RBC Bank (USA) acquisition.", + "Corporate services revenue increased by $.3 billion, or 30%, to $1.2 billion in 2012 compared with $.9 billion in 2011 due to higher commercial mortgage servicing revenue and higher merger and acquisition advisory fees in 2012.", + "The comparison also reflected the impact of valuation gains from rising interest rates on commercial mortgage servicing rights valuations, which were $31 million in 2012 compared to a loss of $152 million in 2011.", + "an institution rated single-A by the credit rating agencies.", + "Given the illiquid nature of many of these types of investments, it can be a challenge to determine their fair values.", + "See Note 7 Fair Value in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information.", + "Various PNC business units manage our equity and other investment activities.", + "Our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines.", + "A summary of our equity investments follows: Table 48: Equity Investments Summary", + "|In millions|December 312015|December 312014|\n|BlackRock|$6,626|$6,265|\n|Tax credit investments|2,254|2,616|\n|Private equity|1,441|1,615|\n|Visa|31|77|\n|Other|235|155|\n|Total|$10,587|$10,728|\n", + "BlackRock PNC owned approximately 35 million common stock equivalent shares of BlackRock equity at December 31, 2015, accounted for under the equity method.", + "The primary risk measurement, similar to other equity investments, is economic capital.", + "The Business Segments Review section of this Item 7 includes additional information about BlackRock.", + "Tax Credit Investments Included in our equity investments are direct tax credit investments and equity investments held by consolidated partnerships which totaled $2.3 billion at December 31, 2015 and $2.6 billion at December 31, 2014.", + "These equity investment balances include unfunded commitments totaling $669 million and $717 million at December 31, 2015 and December 31, 2014, respectively.", + "These unfunded commitments are included in Other Liabilities on our Consolidated Balance Sheet.", + "Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in the Notes To Consolidated Financial Statements in Item 8 of this Report has further information on Tax Credit Investments.", + "Private Equity The private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry, stage and type of investment.", + "Private equity investments carried at estimated fair value totaled $1.4 billion at December 31, 2015 and $1.6 billion at December 31, 2014.", + "As of December 31, 2015, $1.1 billion was invested directly in a variety of companies and $.3 billion was invested indirectly through various private equity funds.", + "Included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes.", + "The noncontrolling interests of these funds totaled $170 million as of December 31, 2015.", + "The interests held in indirect private equity funds are not redeemable, but PNC may receive distributions over the life of the partnership from liquidation of the underlying investments.", + "See Item 1 Business \u2013 Supervision and Regulation and Item 1A Risk Factors of this Report for discussion of the potential impacts of the Volcker Rule provisions of Dodd-Frank on our interests in and of private funds covered by the Volcker Rule.", + "In 2015, PNC invested with six other banks in Early Warning Services (EWS), a provider of fraud prevention and risk management solutions.", + "EWS then acquired ClearXchange, a network through which customers send and receive person-to\u0002person payments.", + "Integrating these businesses will enable us to, among other things, create a secure, real-time payments network.", + "Our unfunded commitments related to private equity totaled $126 million at December 31, 2015 compared with $140 million at December 31, 2014.", + "Visa See Note 7 Fair Value, Note 20 Legal Proceedings and Note 21 Commitments and Guarantees in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information regarding the October 2007 Visa restructuring, our involvement with judgment and loss sharing agreements with Visa and certain other banks, the status of pending interchange litigation, the sales of portions of our Visa Class B common shares and the related swap agreements with the purchasers.", + "During 2015, we sold 2.0 million Visa Class B common shares, in addition to the 16.5 million shares sold in previous years.", + "We have entered into swap agreements with the purchasers of the shares as part of these sales.", + "See Note 7 Fair Value in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information.", + "At December 31, 2015, our investment in Visa Class B common shares totaled approximately 4.9 million shares and had a carrying value of $31 million.", + "Based on the December 31, 2015 closing price of $77.55 for the Visa Class A common shares, the fair value of our total investment was approximately $622 million at the current conversion rate.", + "The Visa Class B common shares that we own are transferable only under limited circumstances until they can be converted into shares of the publicly traded class of stock, which cannot happen until the settlement of all of the specified litigation.", + "||At or for the year ended December 31|\n|Dollars in millions, except as noted|2015 (a)|2014 (a)|2013 (a)|2012 (a)|2011|\n| BALANCESHEETHIGHLIGHTS||||||\n|Assets (b)|$358,493|$345,072|$320,192|$305,029|$271,141|\n|Loans (b) (c)|206,696|204,817|195,613|185,856|159,014|\n|Allowance for loan and lease losses (b)|2,727|3,331|3,609|4,036|4,347|\n|Interest-earning deposits with banks (b) (d)|30,546|31,779|12,135|3,984|1,169|\n|Investment securities (b)|70,528|55,823|60,294|61,406|60,634|\n|Loans held for sale (c)|1,540|2,262|2,255|3,693|2,936|\n|Goodwill|9,103|9,103|9,074|9,072|8,285|\n|Mortgage servicing rights|1,589|1,351|1,636|1,071|1,117|\n|Equity investments (b) (e)|10,587|10,728|10,560|10,799|10,070|\n|Other assets (b) (c)|23,092|23,482|22,552|23,679|22,698|\n|Noninterest-bearing deposits|79,435|73,479|70,306|69,980|59,048|\n|Interest-bearing deposits|169,567|158,755|150,625|143,162|128,918|\n|Total deposits|249,002|232,234|220,931|213,142|187,966|\n|Borrowed funds (b) (c) (f)|54,532|56,768|46,105|40,907|36,704|\n|Total shareholders\u2019 equity|44,710|44,551|42,334|38,948|34,010|\n|Common shareholders\u2019 equity|41,258|40,605|38,392|35,358|32,374|\n|Accumulated other comprehensive income (loss)|130|503|436|834|-105|\n| CLIENTINVESTMENTASSETS(billions) ||||||\n|Discretionary client assets under management|$134|$135|$127|$112|$107|\n|Nondiscretionary client assets under management|125|128|120|112|103|\n|Total client assets under administration|259|263|247|224|210|\n|Brokerage account client assets|43|43|41|38|34|\n|Total|$302|$306|$288|$262|$244|\n| SELECTEDRATIOS||||||\n|Net interest margin (g)|2.74%|3.08%|3.57%|3.94%|3.92%|\n|Noninterest income to total revenue|46|45|43|38|39|\n|Efficiency|62|62|60|68|63|\n|Return on||||||\n|Average common shareholders\u2019 equity|9.50|9.91|10.85|8.29|9.56|\n|Average assets|1.17|1.28|1.38|1.02|1.16|\n|Loans to deposits|83|88|89|87|85|\n|Dividend payout|27.0|25.3|23.1|29.1|20.2|\n|Transitional Basel III common equity Tier 1 capital ratio (h) (i) (j)|10.6|10.9|N/A|N/A|N/A|\n|Transitional Basel III Tier 1 risk-based capital ratio (h) (i) (j)|12.0|12.6|N/A|N/A|N/A|\n|Pro forma fully phased-in Basel III common equity Tier 1 capital ratio (i) (j) (k)|10.0|10.0|9.4|7.5|N/A|\n|Basel I Tier 1 common capital ratio (j)|N/A|N/A|10.5|9.6|10.3|\n|Basel I Tier 1 risk-based capital ratio (j)|N/A|N/A|12.4|11.6|12.6|\n|Common shareholders\u2019 equity to total assets|11.5|11.8|12.0|11.6|11.9|\n|Average common shareholders\u2019 equity to average assets|11.5|12.1|11.9|11.5|11.9|\n| SELECTEDSTATISTICS||||||\n|Employees|52,513|53,587|54,433|56,285|51,891|\n|Retail Banking branches|2,616|2,697|2,714|2,881|2,511|\n|ATMs|8,956|8,605|7,445|7,282|6,806|\n|Residential mortgage servicing portfolio \u2013 Serviced for Third Parties (in billions)|$123|$108|$114|$119|$118|\n|Commercial loan servicing portfolio \u2013 Serviced for PNC and Others (inbillions)|$447|$377|$347|$322|$309|\n", + "(a) Includes the impact of RBC Bank (USA), which we acquired on March 2, 2012.", + "(b) Amounts include consolidated variable interest entities.", + "See Consolidated Balance Sheet in Item 8 of this Report for additional information.", + "(c) Amounts include assets and liabilities for which we have elected the fair value option.", + "See Consolidated Balance Sheet in Item 8 of this Report for additional information.", + "(d) Amounts include balances held with the Federal Reserve Bank of Cleveland of $30.0 billion, $31.4 billion, $11.7 billion, $3.5 billion and $.4 billion as of December 31, 2015, 2014, 2013, 2012 and 2011, respectively.", + "(e) Amounts include our equity interest in BlackRock.", + "(f) Includes long-term borrowings of $43.6 billion, $41.5 billion, $27.6 billion, $19.3 billion and $20.9 billion for 2015, 2014, 2013, 2012 and 2011, respectively.", + "Borrowings which mature more than one year after December 31, 2015 are considered to be long-term.", + "(g) Calculated as taxable-equivalent net interest income divided by average earning assets.", + "The interest income earned on certain earning assets is completely or partially exempt from federal income tax.", + "As such, these tax-exempt instruments typically yield lower returns than taxable investments.", + "To provide more meaningful comparisons of net interest margins for all earning assets, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under accounting principles generally accepted in the United States of America (GAAP) on the Consolidated Income Statement.", + "The taxable-equivalent adjustments to net interest income for the years 2015, 2014, 2013, 2012 and 2011 were $196 million, $189 million, $168 million, $144 million and $104 million, respectively.", + "(h) Calculated using the regulatory capital methodology applicable to PNC during 2015 and 2014, respectively.", + "(i) See capital ratios discussion in the Supervision and Regulation section of Item 1 and in the Capital portion of the Consolidated Balance Sheet Review section in Item 7 of this Report for additional discussion on these capital ratios.", + "(j) See additional information on the pro forma ratios, the 2014 Transitional Basel III ratios and Basel I ratios in the Statistical Information (Unaudited) section in Item 8 of this Report.", + "(k) Pro forma ratios as of December 31, 2015, December 31, 2014 and December 31, 2013 were calculated under the standardized approach and the pro forma ratio as of December 31, 2012 was calculated under the advanced approaches.", + "The 2012 and 2013 ratios have not been updated to reflect the first quarter 2014 adoption of ASU 2014-01 related to investments in low income housing tax credits." + ], + "question_id": "simplong-test-149", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Goodwill and other intangible assets, net in 2017? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following details the impairment charge resulting from our review (in thousands):", + "||Year Ended May 31, 2009|\n|Goodwill|$136,800|\n|Trademark|10,000|\n|Other long-lived assets|864|\n|Total|$147,664|\n", + "Net Income Attributable to Noncontrolling Interests, Net of Tax Noncontrolling interest, net of tax increased $28.9 million from $8.1 million fiscal 2008.", + "The increase was primarily related to our acquisition of a 51% majority interest in HSBC Merchant Services, LLP on June 30, 2008.", + "Net Income Attributable to Global Payments and Diluted Earnings Per Share During fiscal 2009 we reported net income of $37.2 million ($0.46 diluted earnings per share).", + "Liquidity and Capital Resources A significant portion of our liquidity comes from operating cash flows, which are generally sufficient to fund operations, planned capital expenditures, debt service and various strategic investments in our business.", + "Cash flow from operations is used to make planned capital investments in our business, to pursue acquisitions that meet our corporate objectives, to pay dividends, and to pay off debt and repurchase our shares at the discretion of our Board of Directors.", + "Accumulated cash balances are invested in high-quality and marketable short term instruments.", + "Our capital plan objectives are to support the Company\u2019s operational needs and strategic plan for long term growth while maintaining a low cost of capital.", + "Lines of credit are used in certain of our markets to fund settlement and as a source of working capital and, along with other bank financing, to fund acquisitions.", + "We regularly evaluate our liquidity and capital position relative to cash requirements, and we may elect to raise additional funds in the future, either through the issuance of debt, equity or otherwise.", + "At May 31, 2010, we had cash and cash equivalents totaling $769.9 million.", + "Of this amount, we consider $268.1 million to be available cash, which generally excludes settlement related and merchant reserve cash balances.", + "Settlement related cash balances represent surplus funds that we hold on behalf of our member sponsors when the incoming amount from the card networks precedes the member sponsors\u2019 funding obligation to the merchant.", + "Merchant reserve cash balances represent funds collected from our merchants that serve as collateral (\u201cMerchant Reserves\u201d) to minimize contingent liabilities associated with any losses that may occur under the merchant agreement.", + "At May 31, 2010, our cash and cash equivalents included $199.4 million related to Merchant Reserves.", + "While this cash is not restricted in its use, we believe that designating this cash to collateralize Merchant Reserves strengthens our fiduciary standing with our member sponsors and is in accordance with the guidelines set by the card networks.", + "See Cash and cash equivalents and Settlement processing assets and obligations under Note 1 in the notes to the consolidated financial statements for additional details.", + "Net cash provided by operating activities increased $82.8 million to $465.8 million for fiscal 2010 from the prior year.", + "Income from continuing operations increased $16.0 million and we had cash provided by changes in working capital of $60.2 million.", + "The working capital change was primarily due to the change in net settlement processing assets and obligations of $80.3 million and the change in accounts receivable of $13.4 million, partially offset by the change", + "(3) Acquisition-related transaction and integration costs relate to acquisitions and other strategic opportunities.", + "The acquisition\u0002related transaction costs include fees for investment banking advisors, lawyers, accountants, tax advisors and public relations firms, deal-related bonuses to certain of our employees, as well as costs associated with credit facilities and other external costs directly related to the transactions.", + "We also incurred integration costs during the years ended December 31, 2017, 2016 and 2015 relating to our Interactive Data acquisition and during the years ended December 31, 2016, 2015, 2014 and 2013 relating to our NYSE acquisition, primarily related to employee termination costs, lease terminations costs, costs incurred relating to the IPO of Euronext, transaction-related bonuses and professional services costs incurred relating to the integrations.", + "(4) Other income (expense), net during the year ended December 31, 2017 includes a $167 million realized net investment gain in connection with our sale of Cetip and a $110 million net gain on our divestiture of Trayport, and other income (expense), net during the year ended December 31, 2013 includes a $190 million impairment loss on our Cetip investment and a $51 million expense relating to the early payoff of outstanding debt.", + "Refer to notes 3 and 6 to our consolidated financial statements and related notes, which are included elsewhere in this Annual Report, for more information on the 2017 gains relating to the sales of Cetip and Trayport.", + "(5) The income tax benefit or lower income tax expense for the years ended December 31, 2017 and 2015 are primarily due to the deferred tax benefit associated with future U. S. income tax rate reductions of $764 million for the year ended December 31, 2017 and the deferred tax benefit associated with future U. K. income tax rate reductions along with certain favorable settlements with various taxing authorities of $75 million for the year ended December 31, 2015.", + "See Item 7 \u201c- Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations - Consolidated Income Tax Provision\u201d included elsewhere in this Annual Report for more information on these items.", + "(6) During the year ended December 31, 2014, we sold 100% of our wholly-owned subsidiary, Euronext, in connection with Euronext\u2019s IPO, and we sold our entire interest in three companies that comprised the former NYSE Technologies (NYFIX, Metabit and Wombat).", + "We treated the sale of these entities as discontinued operations for all periods presented from their acquisition on November 13, 2013 to their dispositions.", + "(7) Our results include certain items that are not reflective of our cash operations and core business performance.", + "Excluding these items, net of taxes, net income attributable to ICE for the year ended December 31, 2017 would have been $1.8 billion; and, basic earnings per share and diluted earnings per share attributable to ICE common shareholders would have been $2.97 and $2.95, respectively.", + "See Item 7 \u201c- Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations - Non\u0002GAAP Financial Measures\u201d included elsewhere in this Annual Report for more information on these items and the Non-GAAP results for the other years.", + "(8) The weighted average common shares outstanding increased in 2016 primarily due to the stock issued for the Interactive Data and Trayport acquisitions and increased in 2014 primarily due to stock issued for the NYSE acquisition.", + "We issued 211.9 million shares of our common stock to NYSE stockholders, 32.3 million shares of our common stock to Interactive Data stockholders and 12.6 million shares of our common stock to Trayport stockholders, weighted to show these additional shares outstanding for all periods after the respective acquisition dates.", + "||As of December 31,|\n|2017|2016|2015|2014|2013|\n|(In millions)|\n|Consolidated Balance Sheet Data||||||\n|Cash and cash equivalents|$535|$407|$627|$652|$961|\n|Margin deposits, guaranty funds and delivery contracts receivable-2|51,222|55,150|51,169|47,458|42,216|\n|Total current assets|53,562|57,133|53,313|50,232|44,269|\n|Goodwill and other intangible assets, net-1|22,485|22,711|22,837|16,315|18,512|\n|Total assets|78,264|82,003|77,987|68,254|64,422|\n|Margin deposits, guaranty funds and delivery contracts payable-2|51,222|55,150|51,169|47,458|42,216|\n|Total current liabilities|54,171|58,617|54,743|50,436|44,321|\n|Short-term and long-term debt-1|6,100|6,364|7,308|4,277|5,058|\n|Equity-1|16,952|15,754|14,840|12,392|12,381|\n", + "(1) The increases in our equity, goodwill and other intangible assets, and debt as of December 31, 2015 primarily relates to our acquisition of Interactive Data.", + "Refer to notes 3, 8 and 10 to our consolidated financial statements and related notes, which are included elsewhere in this Annual Report, for more information on these items.", + "adjustments following this date.", + "Amortization of acquisition-related intangibles are included in non-GAAP adjustments as excluding these non-cash expenses provides greater clarity regarding our financial strength and stability of cash operating results.", + "During the year ended December 31, 2017, we include as non-GAAP adjustments the Cetip realized investment gain and the foreign exchange loss and transaction expenses on the sale of our investment in Cetip, as the sale of our investment in Cetip is not part of our core business operations.", + "During the year ended December 31, 2017, we include as non-GAAP adjustments the net gain on the divestiture of Trayport, the accruals relating to ongoing investigations and inquiries, and the NYSE Governance Services net loss on its divestiture, as they are non-recurring items.", + "During the year ended December 31, 2016, we include as non-GAAP adjustments the Creditex U. K. voice brokerage severance costs related to its discontinuance and the Creditex customer relationship intangible asset impairment expense, as they are non-recurring items.", + "During the year ended December 31, 2015, we include as non-GAAP adjustments various litigation settlements and accruals and the interest expense on the senior notes and commercial paper we issued for the Interactive Data acquisition (from the issuance date of the new senior notes on November 24, 2015 and on the issuance dates of the commercial paper in early December 2015 to the acquisition date of Interactive Data on December 14, 2015), as they are not part of our core business operations or represent non-recurring items.", + "The income tax effects relating to the items above are included in non-GAAP adjustments as well as deferred tax adjustments on acquisition-related intangibles and other tax adjustments.", + "The tax items in non-GAAP adjustments are either the tax impacts of the pre-tax non-GAAP adjustments or are tax items as described below that are not in the normal course of business and are not indicative of our core business performance.", + "The income tax effects of the pre-tax non-GAAP adjustments for the year ended December 31, 2017 include tax benefits associated with the divestiture of NYSE Governance Services.", + "The tax adjustments on U. S. tax reform mainly include the $764 million deferred tax benefit as a result of the enactment of TCJA in the last quarter of 2017, which reduces the corporate income tax rate from 35% to 21%.", + "Deferred tax adjustments on acquisition-related intangibles include the impact of U. S. state tax law and apportionment changes which resulted in deferred tax expense of $10 million, deferred tax expense of $12 million, and deferred tax benefits of $22 million for the years ended December 31, 2017, 2016, and 2015, respectively.", + "In addition, deferred tax adjustments on acquisition-related intangibles include $34 million and $60 million deferred tax benefits due to U. K. corporate income tax rate reductions for the years ended December 31, 2016 and 2015, respectively.", + "Other tax adjustments for the year ended December 31, 2016 relate to a $15 million valuation allowance on Singapore pre-acquisition net operating losses and other deferred tax assets and an $8 million deferred tax adjustment with respect to our OCC equity method investment.", + "Other tax adjustments for the year ended December 31, 2015 represents a $7 million uncertain tax position relating to a retrospective foreign tax law change for a pre\u0002acquisition period.", + "For additional information on these items, refer to our consolidated financial statements and related notes, which are included elsewhere in this Annual Report and \u201c- Recent Developments,\u201d \u201c- Consolidated Operating Expenses\u201d, \u201c- Consolidated Non-Operating Income (Expenses)\u201d and \u201c- Consolidated Income Tax Provision\u201d above.", + "Off-Balance Sheet Arrangements Except for certain clearing house collateral that is reported off-balance sheet, we do not have any relationships with unconsolidated entities or financial partnerships, often referred to as structured finance or special purpose entities, which have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.", + "Refer to note 13 to our consolidated financial statements and related notes, which are included elsewhere in this Annual Report, for more information on our clearing houses\u2019 collateral.", + "Contractual Obligations and Commercial Commitments The following table presents, for the periods indicated, our contractual obligations (which we intend to fund from our existing cash as well as cash flow from operations) and commercial commitments as of December 31, 2017 (in millions):", + "||Payments Due by Period|\n||Total|Less Than1 Year|1-3 Years|4-5 Years|After5 Years|\n|Contractual Obligations:||||||\n|Short-term and long-term debt and interest|$7,036|$1,993|$1,637|$1,500|$1,906|\n|Operating lease obligations|521|78|218|63|162|\n|Purchase obligations|188|101|76|11|\u2014|\n|Total contractual cash obligations|$7,745|$2,172|$1,931|$1,574|$2,068|\n", + "Purchase obligations include our estimate of the minimum outstanding obligations under agreements to purchase goods or services that we believe are enforceable and legally binding and that specify all significant terms, including: fixed or minimum" + ], + "question_id": "simplong-test-150", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Repurchases from securitization trusts of Residential Mortgage Agency 2016, and Allowance for loan and lease losses, January 1 of 2015 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table VII Allowance for Credit Losses", + "|(Dollars in millions)|2016|2015|2014|2013|2012|\n|Allowance for loan and lease losses, January 1|$12,234|$14,419|$17,428|$24,179|$33,783|\n|Loans and leases charged off||||||\n|Residential mortgage|-403|-866|-855|-1,508|-3,276|\n|Home equity|-752|-975|-1,364|-2,258|-4,573|\n|U.S. credit card|-2,691|-2,738|-3,068|-4,004|-5,360|\n|Non-U.S. credit card|-238|-275|-357|-508|-835|\n|Direct/Indirect consumer|-392|-383|-456|-710|-1,258|\n|Other consumer|-232|-224|-268|-273|-274|\n|Total consumer charge-offs|-4,708|-5,461|-6,368|-9,261|-15,576|\n|U.S. commercial-1|-567|-536|-584|-774|-1,309|\n|Commercial real estate|-10|-30|-29|-251|-719|\n|Commercial lease financing|-30|-19|-10|-4|-32|\n|Non-U.S. commercial|-133|-59|-35|-79|-36|\n|Total commercial charge-offs|-740|-644|-658|-1,108|-2,096|\n|Total loans and leases charged off|-5,448|-6,105|-7,026|-10,369|-17,672|\n|Recoveries of loans and leases previously charged off||||||\n|Residential mortgage|272|393|969|424|165|\n|Home equity|347|339|457|455|331|\n|U.S. credit card|422|424|430|628|728|\n|Non-U.S. credit card|63|87|115|109|254|\n|Direct/Indirect consumer|258|271|287|365|495|\n|Other consumer|27|31|39|39|42|\n|Total consumer recoveries|1,389|1,545|2,297|2,020|2,015|\n|U.S. commercial-2|175|172|214|287|368|\n|Commercial real estate|41|35|112|102|335|\n|Commercial lease financing|9|10|19|29|38|\n|Non-U.S. commercial|13|5|1|34|8|\n|Total commercial recoveries|238|222|346|452|749|\n|Total recoveries of loans and leases previously charged off|1,627|1,767|2,643|2,472|2,764|\n|Net charge-offs|-3,821|-4,338|-4,383|-7,897|-14,908|\n|Write-offs of PCI loans|-340|-808|-810|-2,336|-2,820|\n|Provision for loan and lease losses|3,581|3,043|2,231|3,574|8,310|\n|Other-3|-174|-82|-47|-92|-186|\n|Allowance for loan and lease losses, December 31|11,480|12,234|14,419|17,428|24,179|\n|Less: Allowance included in assets of business held for sale-4|-243|\u2014|\u2014|\u2014|\u2014|\n|Total allowance for loan and lease losses, December 31|11,237|12,234|14,419|17,428|24,179|\n|Reserve for unfunded lending commitments, January 1|646|528|484|513|714|\n|Provision for unfunded lending commitments|16|118|44|-18|-141|\n|Other-3|100|\u2014|\u2014|-11|-60|\n|Reserve for unfunded lending commitments, December 31|762|646|528|484|513|\n|Allowance for credit losses, December 31|$11,999|$12,880|$14,947|$17,912|$24,692|\n", + "(1) Includes U. S. small business commercial charge-offs of $253 million, $282 million, $345 million, $457 million and $799 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(2) Includes U. S. small business commercial recoveries of $45 million, $57 million, $63 million, $98 million and $100 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(3) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications.", + "(4) Represents allowance for loan and lease losses related to the non-U.", + "S. credit card loan portfolio, which is included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "Valuation Adjustments on Derivatives The Corporation records credit risk valuation adjustments on derivatives in order to properly reflect the credit quality of the counterparties and its own credit quality.", + "The Corporation calculates valuation adjustments on derivatives based on a modeled expected exposure that incorporates current market risk factors.", + "The exposure also takes into consideration credit mitigants such as enforceable master netting agreements and collateral.", + "CDS spread data is used to estimate the default probabilities and severities that are applied to the exposures.", + "Where no observable credit default data is available for counterparties, the Corporation uses proxies and other market data to estimate default probabilities and severity.", + "Valuation adjustments on derivatives are affected by changes in market spreads, non-credit related market factors such as interest rate and currency changes that affect the expected exposure, and other factors like changes in collateral arrangements and partial payments.", + "Credit spreads and non-credit factors can move independently.", + "For example, for an interest rate swap, changes in interest rates may increase the expected exposure, which would increase the counterparty credit valuation adjustment (CVA).", + "Independently, counterparty credit spreads may tighten, which would result in an offsetting decrease to CVA.", + "The Corporation early adopted, retrospective to January 1, 2015, the provision of new accounting guidance issued in January 2016 that requires the Corporation to record unrealized DVA resulting from changes in the Corporation\u2019s own credit spreads on liabilities accounted for under the fair value option in accumulated OCI.", + "This new accounting guidance had no impact on the accounting for DVA on derivatives.", + "For additional information, see New Accounting Pronouncements in Note 1 \u2013 Summary of Significant Accounting Principles.", + "The Corporation enters into risk management activities to offset market driven exposures.", + "The Corporation often hedges the counterparty spread risk in CVA with CDS.", + "The Corporation hedges other market risks in both CVA and DVA primarily with currency and interest rate swaps.", + "In certain instances, the net-of-hedge amounts in the table below move in the same direction as the gross amount or may move in the opposite direction.", + "This movement is a consequence of the complex interaction of the risks being hedged resulting in limitations in the ability to perfectly hedge all of the market exposures at all times.", + "The table below presents CVA, DVA and FVA gains (losses) on derivatives, which are recorded in trading account profits, on a gross and net of hedge basis for 2016, 2015 and 2014.", + "CVA gains reduce the cumulative CVA thereby increasing the derivative assets balance.", + "DVA gains increase the cumulative DVA thereby decreasing the derivative liabilities balance.", + "CVA and DVA losses have the opposite impact.", + "FVA gains related to derivative assets reduce the cumulative FVA thereby increasing the derivative assets balance.", + "FVA gains related to derivative liabilities increase the cumulative FVA thereby decreasing the derivative liabilities balance.", + "||2016|2015|2014|\n|(Dollars in millions)|Gross|Net|Gross|Net|Gross|Net|\n|Derivative assets (CVA)(1)|$374|$214|$255|$227|$-22|$191|\n|Derivative assets/liabilities (FVA)(1)|186|102|16|16|-497|-497|\n|Derivative liabilities (DVA)(1)|24|-141|-18|-153|-28|-150|\n", + "(1) At December 31, 2016, 2015 and 2014, cumulative CVA reduced the derivative assets balance by $1.0 billion, $1.4 billion and $1.6 billion, cumulative FVA reduced the net derivatives balance by $296 million, $481 million and $497 million, and cumulative DVA reduced the derivative liabilities balance by $774 million, $750 million and $769 million, respectively", + "NOTE 6 Securitizations and Other Variable Interest Entities The Corporation utilizes VIEs in the ordinary course of business to support its own and its customers\u2019 financing and investing needs.", + "The Corporation routinely securitizes loans and debt securities using VIEs as a source of funding for the Corporation and as a means of transferring the economic risk of the loans or debt securities to third parties.", + "The assets are transferred into a trust or other securitization vehicle such that the assets are legally isolated from the creditors of the Corporation and are not available to satisfy its obligations.", + "These assets can only be used to settle obligations of the trust or other securitization vehicle.", + "The Corporation also administers, structures or invests in other VIEs including CDOs, investment vehicles and other entities.", + "For more information on the Corporation\u2019s utilization of VIEs, see Note 1 \u2013 Summary of Significant Accounting Principles.", + "The tables in this Note present the assets and liabilities of consolidated and unconsolidated VIEs at December 31, 2016 and 2015, in situations where the Corporation has continuing involvement with transferred assets or if the Corporation otherwise has a variable interest in the VIE.", + "The tables also present the Corporation\u2019s maximum loss exposure at December 31, 2016 and 2015, resulting from its involvement with consolidated VIEs and unconsolidated VIEs in which the Corporation holds a variable interest.", + "The Corporation\u2019s maximum loss exposure is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments, such as unfunded liquidity commitments and other contractual arrangements.", + "The Corporation\u2019s maximum loss exposure does not include losses previously recognized through write-downs of assets.", + "As a result of new accounting guidance, which was effective on January 1, 2016, the Corporation identified certain limited partnerships and similar entities that are now considered to be VIEs and are included in the unconsolidated VIE tables in this Note at December 31, 2016.", + "The Corporation had a maximum loss exposure of $6.1 billion related to these VIEs, which had total assets of $16.7 billion.", + "The Corporation invests in ABS issued by third-party VIEs with which it has no other form of involvement and enters into certain commercial lending arrangements that may also incorporate the use of VIEs to hold collateral.", + "These securities and loans are included in Note 3 \u2013 Securities or Note 4 \u2013 Outstanding Loans and Leases.", + "In addition, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities.", + "For additional information, see Note 11 \u2013 Long-term Debt.", + "The Corporation uses VIEs, such as common trust funds managed within Global Wealth & Investment Management (GWIM), to provide investment opportunities for clients.", + "These VIEs, which are generally not consolidated by the Corporation, as applicable, are not included in the tables in this Note.", + "Except as described below, the Corporation did not provide financial support to consolidated or unconsolidated VIEs during 2016 or 2015 that it was not previously contractually required to provide, nor does it intend to do so.", + "First-lien Mortgage Securitizations First-lien Mortgages As part of its mortgage banking activities, the Corporation securitizes a portion of the first-lien residential mortgage loans it originates or purchases from third parties, generally in the form of RMBS guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or Government National Mortgage Association (GNMA) primarily in the case of FHA-insured and U. S. Department of Veterans Affairs (VA)-guaranteed mortgage loans.", + "Securitization usually occurs in conjunction with or shortly after origination or purchase, and the Corporation may also securitize loans held in its residential mortgage portfolio.", + "In addition, the Corporation may, from time to time, securitize commercial mortgages it originates or purchases from other entities.", + "The Corporation typically services the loans it securitizes.", + "Further, the Corporation may retain beneficial interests in the securitization trusts including senior and subordinate securities and equity tranches issued by the trusts.", + "Except as described below and in Note 7 \u2013 Representations and Warranties Obligations and Corporate Guarantees, the Corporation does not provide guarantees or recourse to the securitization trusts other than standard representations and warranties.", + "The table below summarizes select information related to first\u0002lien mortgage securitizations for 2016, 2015 and 2014.", + "||Residential Mortgage|||\n||Agency|Non-agency - Subprime|Commercial Mortgage|\n|(Dollars in millions)|2016|2015|2014|2016|2015|2014|2016|2015|2014|\n|Cash proceeds from new securitizations-1|$24,201|$27,164|$36,905|$\u2014|$\u2014|$809|$3,887|$7,945|$5,710|\n|Gain on securitizations-2|370|894|371|\u2014|\u2014|49|38|49|68|\n|Repurchases from securitization trusts-3|3,611|3,716|5,155|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n", + "(1) The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds.", + "(2) A majority of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option.", + "Gains recognized on these LHFS prior to securitization, which totaled $487 million, $750 million and $715 million net of hedges, during 2016, 2015 and 2014, respectively are not included in the table above.", + "(3) The Corporation may have the option to repurchase delinquent loans out of securitization trusts, which reduces the amount of servicing advances it is required to make.", + "The Corporation may also repurchase loans from securitization trusts to perform modifications.", + "The majority of repurchased loans are FHA-insured mortgages collateralizing GNMA securities.", + "In addition to cash proceeds as reported in the table above, the Corporation received securities with an initial fair value of $4.2 billion, $22.3 billion and $5.4 billion in connection with first-lien mortgage securitizations in 2016, 2015 and 2014.", + "The receipt of these securities represents non-cash operating and investing activities and, accordingly, is not reflected on the Consolidated Statement of Cash Flows.", + "All of these securities were initially classified as Level 2 assets within the fair value hierarchy.", + "During 2016, 2015 and 2014 there were no changes to the initial classification.", + "The Corporation recognizes consumer MSRs from the sale or securitization of first-lien mortgage loans.", + "Servicing fee and ancillary fee income on consumer mortgage loans serviced, including securitizations where the Corporation has continuing", + "The following table shows the major categories of ongoing claims for which the Company has been able to estimate its probable liability and for which the Company has taken reserves and the related insurance receivables:" + ], + "question_id": "simplong-test-151", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the roi of an investment in s&p500 index from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 1.", + "Summary of Significant Accounting Policies \u2013 (Continued) CNA applies the same impairment model as described above for the majority of its non-redeemable preferred stock securities on the basis that these securities possess characteristics similar to debt securities and that the issuers maintain their ability to pay dividends.", + "For all other equity securities, in determining whether the security is other\u0002than-temporarily impaired, the Impairment Committee considers a number of factors including, but not limited to: (i) the length of time and the extent to which the fair value has been less than amortized cost, (ii) the financial condition and near term prospects of the issuer, (iii) the intent and ability of CNA to retain its investment for a period of time sufficient to allow for an anticipated recovery in value and (iv) general market conditions and industry or sector specific outlook.", + "Joint venture investments \u2013 The Company has 20% to 50% interests in operating joint ventures related to hotel properties and had joint venture interests in the former Bluegrass Project, as discussed in Note 2, that are accounted for under the equity method.", + "The Company\u2019s investment in these entities was $217 million and $234 million for the years ended December 31, 2016 and 2015 and reported in Other assets on the Company\u2019s Consolidated Balance Sheets.", + "Equity income (loss) for these investments was $41 million, $43 million and $(62) million for the years ended December 31, 2016, 2015 and 2014 and reported in Other operating expenses on the Company\u2019s Consolidated Statements of Income.", + "Some of these investments are variable interest entities (\u201cVIE\u201d) as defined in the accounting guidance because the entities will require additional funding from each equity owner throughout the development and construction phase and are accounted for under the equity method since the Company is not the primary beneficiary.", + "The maximum exposure to loss for the VIE investments is $337 million, consisting of the amount of the investment and debt guarantees.", + "The following tables present summarized financial information for these joint ventures:", + "| Year Ended December 31|| 2016|2015|\n| (In millions)||||\n|Total assets||$1,749|$1,577|\n|Total liabilities||1,444|1,231|\n| Year Ended December 31| 2016|2015|2014|\n|Revenues|$693|$606|$491|\n|Net income|80|71|32|\n", + "Hedging \u2013 The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedging transactions.", + "The Company also formally assesses (both at the hedge\u2019s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods.", + "When it is determined that a derivative for which hedge accounting has been designated is not (or ceases to be) highly effective, the Company discontinues hedge accounting prospectively.", + "See Note 3 for additional information on the Company\u2019s use of derivatives.", + "Securities lending activities \u2013 The Company lends securities for the purpose of enhancing income or to finance positions to unrelated parties who have been designated as primary dealers by the Federal Reserve Bank of New York.", + "Borrowers of these securities must deposit and maintain collateral with the Company of no less than 100% of the fair value of the securities loaned.", + "U. S. Government securities and cash are accepted as collateral.", + "The Company maintains effective control over loaned securities and, therefore, continues to report such securities as investments on the Consolidated Balance Sheets.", + "Securities lending is typically done on a matched-book basis where the collateral is invested to substantially match the term of the loan.", + "This matching of terms tends to limit risk.", + "In accordance with the Company\u2019s lending agreements, securities on loan are returned immediately to the Company upon notice.", + "Collateral is not reflected as an asset of the Company.", + "There was no collateral held at December 31, 2016 and 2015.", + "Notes to Consolidated Financial Statements Note 4.", + "Fair Value \u2013 (Continued) x Level 2 \u2013 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.", + "x Level 3 \u2013 Valuations derived from valuation techniques in which one or more significant inputs are not observable.", + "Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security.", + "In general, the Company seeks to price securities using third party pricing services.", + "Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets.", + "Prices obtained from third-party pricing services or brokers are not adjusted by the Company.", + "The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable.", + "Procedures may include: (i) the review of pricing service methodologies or broker pricing qualifications, (ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, (iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, (iv) detailed analysis, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities and (v) pricing validation, where prices received are compared to prices independently estimated by the Company.", + "The fair values of CNA\u2019s life settlement contracts are included in Other assets on the Consolidated Balance Sheets.", + "Equity options purchased are included in Equity securities, and all other derivative assets are included in Receivables.", + "Derivative liabilities are included in Payable to brokers.", + "Assets and liabilities measured at fair value on a recurring basis are summarized in the tables below:", + "| December 31, 2016|Level 1| Level 2| Level 3| Total|\n| (In millions)|||||\n| Fixed maturity securities:|||||\n| Corporate and other bonds||$18,828|$130|$18,958|\n| States, municipalities and political subdivisions||13,239|1|13,240|\n| Asset-backed:|||||\n| Residential mortgage-backed||4,944|129|5,073|\n| Commercial mortgage-backed||2,027|13|2,040|\n| Other asset-backed||968|57|1,025|\n| Total asset-backed||7,939|199|8,138|\n| U.S. Treasury and obligations of government-sponsored enterprises|$93|||93|\n| Foreign government||445||445|\n| Redeemable preferred stock|19|||19|\n| Fixed maturitiesavailable-for-sale|112|40,451|330|40,893|\n| Fixed maturities trading||595|6|601|\n| Total fixed maturities|$112|$41,046|$336|$41,494|\n| Equity securitiesavailable-for-sale|$91||$19|$110|\n| Equity securities trading|438||1|439|\n| Total equity securities|$529|$-|$20|$549|\n| Short term investments|$3,833|$853||$4,686|\n| Other invested assets|55|5||60|\n| Receivables|1|||1|\n| Life settlement contracts|||$58|58|\n| Payable to brokers|-44|||-44|\n", + "Item 5.", + "Market for the Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The following graph compares annual total return of our Common Stock, the Standard & Poor\u2019s 500 Composite Stock Index (\u201cS&P 500 Index\u201d) and our Peer Group (\u201cLoews Peer Group\u201d) for the five years ended December 31, 2016.", + "The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index and the Loews Peer Group was $100 on December 31, 2011 and that all dividends were reinvested.", + "||2011|2012|2013|2014|2015|2016|\n|Loews Common Stock|100.0|108.91|129.64|113.59|104.47|128.19|\n|S&P 500 Index|100.0|116.00|153.57|174.60|177.01|198.18|\n|Loews Peer Group (a)|100.0|113.39|142.85|150.44|142.44|165.34|\n", + "(a) The Loews Peer Group consists of the following companies that are industry competitors of our principal operating subsidiaries: Chubb Limited (name change from ACE Limited after it acquired The Chubb Corporation on January 15, 2016), W. R. Berkley Corporation, The Chubb Corporation (included through January 15, 2016 when it was acquired by ACE Limited), Energy Transfer Partners L. P. , Ensco plc, The Hartford Financial Services Group, Inc. , Kinder Morgan Energy Partners, L. P. (included through November 26, 2014 when it was acquired by Kinder Morgan Inc. ), Noble Corporation, Spectra Energy Corp, Transocean Ltd. and The Travelers Companies, Inc. Dividend Information We have paid quarterly cash dividends in each year since 1967.", + "Regular dividends of $0.0625 per share of Loews common stock were paid in each calendar quarter of 2016 and 2015." + ], + "question_id": "simplong-test-152", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in the fair value of retained interests in 2018 compare to 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements \u2030 Purchased interests represent senior and subordinated interests, purchased in connection with secondary market-making activities, in securitization entities in which the firm also holds retained interests.", + "\u2030 Substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of December 2018, and relate to securitizations during 2012 and thereafter as of December 2017.", + "\u2030 The fair value of retained interests was $3.28 billion as of December 2018 and $2.13 billion as of December 2017.", + "In addition to the interests in the table above, the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated VIEs.", + "The carrying value of these derivatives and commitments was a net asset of $75 million as of December 2018 and $86 million as of December 2017, and the notional amount of these derivatives and commitments was $1.09 billion as of December 2018 and $1.26 billion as of December 2017.", + "The notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated VIE table in Note 12.", + "The table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests.", + "||As of December|\n|$ in millions|2018|2017|\n|Fair value of retained interests|$ 3,151|$2,071|\n|Weighted average life (years)|7.2|6.0|\n|Constant prepayment rate|11.9%|9.4%|\n|Impact of 10% adverse change|$ -27|$ -19|\n|Impact of 20% adverse change|$ -53|$ -35|\n|Discount rate|4.7%|4.2%|\n|Impact of 10% adverse change|$ -75|$ -35|\n|Impact of 20% adverse change|$ -147|$ -70|\n", + "In the table above: \u2030 Amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests.", + "\u2030 Changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear.", + "\u2030 The impact of a change in a particular assumption is calculated independently of changes in any other assumption.", + "In practice, simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above.", + "\u2030 The constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value.", + "\u2030 The discount rate for retained interests that relate to U. S. government agency-issued collateralized mortgage obligations does not include any credit loss.", + "Expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests.", + "The firm has other retained interests not reflected in the table above with a fair value of $133 million and a weighted average life of 4.2 years as of December 2018, and a fair value of $56 million and a weighted average life of 4.5 years as of December 2017.", + "Due to the nature and fair value of certain of these retained interests, the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both December 2018 and December 2017.", + "The firm\u2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $133 million as of December 2018 and $56 million as of December 2017.", + "Note 12.", + "Variable Interest Entities A variable interest in a VIE is an investment (e. g. , debt or equity) or other interest (e. g. , derivatives or loans and lending commitments) that will absorb portions of the VIE\u2019s expected losses and/or receive portions of the VIE\u2019s expected residual returns.", + "The firm\u2019s variable interests in VIEs include senior and subordinated debt; loans and lending commitments; limited and general partnership interests; preferred and common equity; derivatives that may include foreign currency, equity and/or credit risk; guarantees; and certain of the fees the firm receives from investment funds.", + "Certain interest rate, foreign currency and credit derivatives the firm enters into with VIEs are not variable interests because they create, rather than absorb, risk.", + "VIEs generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the VIE.", + "The debt and equity securities issued by a VIE may include tranches of varying levels of subordination.", + "The firm\u2019s involvement with VIEs includes securitization of financial assets, as described in Note 11, and investments in and loans to other types of VIEs, as described below.", + "See Note 11 for further information about securitization activities, including the definition of beneficial interests.", + "See Note 3 for the firm\u2019s consolidation policies, including the definition of a VIE.", + "The completion factor method is used for the months of incurred claims prior to the most recent three months because the historical percentage of claims processed for those months is at a level sufficient to produce a consistently reliable result.", + "Conversely, for the most recent three months of incurred claims, the volume of claims processed historically is not at a level sufficient to produce a reliable result, which therefore requires us to examine historical trend patterns as the primary method of evaluation.", + "Medical cost trends potentially are more volatile than other segments of the economy.", + "The drivers of medical cost trends include increases in the utilization of hospital and physician services, prescription drugs, and new medical technologies, as well as the inflationary effect on the cost per unit of each of these expense components.", + "Other external factors such as government-mandated benefits or other regulatory changes, catastrophes, and epidemics also may impact medical cost trends.", + "Additionally, as we realign our commercial strategy, we continue to reduce the level of traditional utilization management functions such as pre\u0002authorization of services, monitoring of inpatient admissions, and requirements for physician referrals.", + "Other internal factors such as system conversions and claims processing interruptions also may impact our ability to accurately predict estimates of historical completion factors or medical cost trends.", + "All of these factors are considered in estimating IBNR and in estimating the per member per month claims trend for purposes of determining the reserve for the most recent three months.", + "Each of these factors requires significant judgment by management.", + "The completion and claims per member per month trend factors are the most significant factors impacting the IBNR estimate.", + "The following table illustrates the sensitivity of these factors and the estimated potential impact on our operating results caused by changes in these factors based on December 31, 2003 data:", + "|Completion Factor (a):|Claims Trend Factor (b):|\n| (Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|(Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|\n|(dollars in thousands)|\n|-3%|$136,000|-3%|$-59,000|\n|-2%|$88,000|-2%|$-41,000|\n|-1%|$43,000|-1%|$-22,000|\n|1%|$-40,000|1%|$14,000|\n|2%|$-79,000|2%|$33,000|\n|3%|$-116,000|3%|$51,000|\n", + "(a) Reflects estimated potential changes in medical and other expenses payable caused by changes in completion factors for incurred months prior to the most recent three months.", + "(b) Reflects estimated potential changes in medical and other expenses payable caused by changes in annualized claims trend used for the estimation of per member per month incurred claims for the most recent three months.", + "Most medical claims are paid within a few months of the member receiving service from a physician or other health care provider.", + "As a result, these liabilities generally are described as having a \u201cshort-tail\u201d, which causes less than 2% of our medical and other expenses payable as of the end of any given period to be outstanding for more than 12 months.", + "As such, we expect that substantially all of the 2003 estimate of medical and other expenses payable will be known and paid during 2004.", + "Our reserving practice is to consistently recognize the actuarial best point estimate within a level of confidence required by actuarial standards.", + "Actuarial standards of practice generally require a level of confidence such that the liabilities established for IBNR have a greater probability of being adequate versus being insufficient, or such that the liabilities established for IBNR are sufficient to cover obligations under an assumption of moderately adverse conditions.", + "Adverse conditions are situations in which the actual claims are", + "TRICARE change orders occur when we perform services or incur costs under the directive of the federal government that were not originally specified in our contracts.", + "Under federal regulations we are entitled to an equitable adjustment to the contract price, which results in additional premium revenues.", + "Examples of items that have necessitated substantial change orders in recent years include congressionally legislated increases in the level of benefits for TRICARE beneficiaries and the administration of new government programs such as TRICARE for Life and TRICARE Senior Pharmacy.", + "Like BPAs, we record revenue applicable to change orders when these amounts are determinable and the collectibility is reasonably assured.", + "Unlike BPAs, where settlement only occurs at specified intervals, change orders may be negotiated and settled at any time throughout the year.", + "Total TRICARE premium and ASO fee receivables were as follows at December 31, 2003 and 2002:", + "||2003|2002|\n||(in thousands)|\n|TRICARE premiums receivable:|||\n|Base receivable|$254,688|$190,339|\n|Bid price adjustments (BPAs)|92,875|104,044|\n|Change orders|7,073|1,400|\n|Subtotal|354,636|295,783|\n|Less: long-term portion of BPAs|-38,794|-86,471|\n|Total TRICARE premiums receivable|$315,842|$209,312|\n|TRICARE ASO fees receivable:|||\n|Base receivable|$\u2014|$7,205|\n|Change orders|11,968|56,230|\n|Total TRICARE ASO fees receivable|$11,968|$63,435|\n", + "Our TRICARE contracts also contain risk-sharing provisions with the federal government to minimize any losses and limit any profits in the event that medical costs for which we are at risk differ from the levels targeted in our contracts.", + "Amounts receivable from the federal government under such risk-sharing provisions are included in the BPA receivable above, while amounts payable to the federal government under these provisions of approximately $17.3 million at December 31, 2003 are included in medical and other expenses payable in our consolidated balance sheets.", + "Investment Securities Investment securities totaled $1,995.8 million, or 38% of total assets at December 31, 2003.", + "Debt securities totaled $1,960.6 million, or 98% of our total investment portfolio.", + "More than 94% of our debt securities were of investment-grade quality, with an average credit rating of AA by Standard & Poor\u2019s at December 31, 2003.", + "Most of the debt securities that are below investment grade are rated at the higher end (B or better) of the non\u0002investment grade spectrum.", + "Our investment policy limits investments in a single issuer and requires diversification among various asset types.", + "Duration is indicative of the relationship between changes in market value to changes in interest rates, providing a general indication of the sensitivity of the fair values of our debt securities to changes in interest rates.", + "However, actual market values may differ significantly from estimates based on duration.", + "The average duration of our debt securities was approximately 3.5 years at December 31, 2003.", + "Based on this duration, a 1% increase in interest rates would generally decrease the fair value of our debt securities by approximately $70 million.", + "Our investment securities are categorized as available for sale and, as a result, are stated at fair value.", + "Fair value of publicly traded debt and equity securities are based on quoted market prices.", + "Non-traded debt securities are priced independently by a third party vendor.", + "Fair value of venture capital debt securities that are privately", + "Revenue for other healthcare services is recognized on a fee-for-service basis at estimated collectible amounts at the time services are rendered.", + "Our fees are determined in advance for each type of service performed.", + "Investment Securities Investment securities totaled $9.8 billion, or 47.3% of total assets at December 31, 2013, and $9.8 billion, or 49% of total assets at December 31, 2012.", + "Debt securities, detailed below, comprised this entire investment portfolio at December 31, 2013 and at December 31, 2012.", + "The fair value of debt securities were as follows at December 31, 2013 and 2012:" + ], + "question_id": "simplong-test-153", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of all March 31 of Three months ended that are greater than 6000 in 2005? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The table below sets forth information on our share repurchases and dividends paid in 2015, 2014 and 2013.", + "||Payment Due by Period|\n|As of December 31, 2015 (in millions)|Total|Year 1|Years 2-3|Years 4-5|More than 5|\n|Debtobligations(a)|$52,727|$3,597|$6,842|$8,482|$33,806|\n|Capital lease obligations|156|30|47|39|40|\n|Operating lease obligations|3,459|452|782|608|1,617|\n|Purchaseobligations(b)|53,644|10,848|10,080|8,537|24,179|\n|Other long-term liabilities reflected on the balance sheet(c)|6,280|590|1,245|2,390|2,055|\n|Total(d)(e)|$116,266|$15,517|$18,996|$20,056|$61,697|\n", + "Refer to Note 10 and Note 17 to Comcast\u2019s consolidated financial statements.", + "(a) Excludes interest payments.", + "(b) Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum quantities to be purchased and price provisions.", + "Our purchase obligations related to our Cable Communications segment include programming contracts with cable networks and local broadcast television stations; contracts with customer premise equipment manufacturers, communications vendors and multichannel video providers for which we provide advertising sales representation; and other contracts entered into in the normal course of business.", + "Cable Communications programming contracts in the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts, which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming.", + "Our purchase obligations related to our NBCUniversal segments consist primarily of commitments to acquire film and television programming, including U. S. television rights to future Olympic Games through 2032, Sunday Night Football on the NBC network through the 2022-23 season, including the Super Bowl in 2018 and 2021, NHL games through the 2020-21 season, Spanish-language U. S. television rights to FIFA World Cup games through 2022, U.", + "S television rights to English Premier League soccer games through the 2021-22 season, certain PGA TOUR and other golf events through 2030 and certain NASCAR events through 2024, as well as obligations under various creative talent and employment agreements, including obligations to actors, producers, television personalities and executives, and various other television commitments.", + "Purchase obligations do not include contracts with immaterial future commitments.", + "(c) Other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares; deferred compensation obliga\u0002tions; and pension, postretirement and postemployment benefit obligations.", + "A contractual obligation with a carrying value of $1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled.", + "The contractual obligation involves an interest held by a third party in the revenue of certain theme parks.", + "The arrangement provides the counterparty with the right to periodic pay\u0002ments associated with current period revenue and, beginning in 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractually specified formula, which amount could be significantly higher than our current carrying value.", + "See Note 11 to Comcast\u2019s consolidated financial statements for additional information related to this arrangement.", + "Reserves for uncertain tax positions of $1.1 billion are not included in the table above because it is uncertain if and when these reserves will become payable.", + "Payments of $2.1 billion of participations and residuals are also not included in the table above because we cannot make a reliable esti\u0002mate of the period in which these obligations will be settled.", + "(d) Our contractual obligations do not include the commitment to invest up to $4 billion at any one time as an investor in Atairos due to our inability to estimate the timing of this funding.", + "In addition, we do not include any future expenditures related to the construction and development of the proposed Universal Studios theme park in Beijing, China as we are not currently obligated to make such funding.", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements 21.", + "COMMITMENTS AND GUARANTEES, CONTINGENT LIABILITIES AND LITIGATION AND REGULATORY MATTERS (continued) Summary The Company\u2019s litigation and regulatory matters are subject to many uncertainties, and given their complexity and scope, their outcome cannot be predicted.", + "It is possible that the results of operations or the cash flow of the Company in a particular quarterly or annual period could be materially affected by an ultimate unfavorable resolution of pending litigation and regulatory matters depending, in part, upon the results of operations or cash flow for such period.", + "Management believes, however, that the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company\u2019s financial position.22.", + "QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2005 and 2004 are summarized in the table below:", + "||Three months ended|\n|| March 31 | June 30 | September 30 |December 31|\n||(in millions, except per share amounts)|\n| 2005|||||\n|Total revenues|$7,721|$8,318|$7,787|$7,882|\n|Total benefits and expenses|6,403|7,002|6,670|7,162|\n|Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange|1,318|1,316|1,117|720|\n|Net income|929|883|1,364|364|\n|Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|1.51|1.59|2.66|0.80|\n|Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|1.49|1.56|2.61|0.78|\n|Basic net income per share\u2014Common Stock-1|1.51|1.50|2.63|0.79|\n|Diluted net income per share\u2014Common Stock-1|1.49|1.48|2.59|0.78|\n|Basic and diluted net income (loss) per share\u2014Class B Stock|70.50|53.50|11.50|-16.00|\n| 2004|||||\n|Total revenues|$6,692|$6,844|$7,299|$7,288|\n|Total benefits and expenses|5,985|6,155|6,228|6,387|\n|Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accountingchange|707|689|1,071|901|\n|Net income|401|549|728|578|\n|Basic income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|0.75|1.02|1.14|0.78|\n|Diluted income from continuing operations before extraordinary gain on acquisition and cumulative effect of accounting change pershare\u2014Common Stock-1|0.73|1.00|1.11|0.76|\n|Basic net income per share\u2014Common Stock-1|0.58|1.04|1.11|0.65|\n|Diluted net income per share\u2014Common Stock-1|0.57|1.02|1.08|0.64|\n|Basic and diluted net income per share\u2014Class B Stock|46.00|3.50|79.00|120.50|\n", + "(1) Quarterly earnings per share amounts may not add to the full year amounts due to the averaging of shares.", + "Results for the second and fourth quarters of 2005 include pre-tax expenses of $136 million and $267 million, respectively, related to obligations and costs we retained in connection with businesses contributed to the retail securities brokerage joint venture with Wachovia, including accruals for estimated settlement costs related to market timing issues under active negotiation with state and federal authorities.", + "Results for the third quarter of 2005 include an income tax benefit of $720 million, as discussed further in Note 17.", + "As discussed in Note 2, the Company adopted SOP 03-1 effective January 1, 2004.", + "Results for the first quarter of 2004 include a loss from the cumulative effect of accounting changes, net of taxes, of $79 million related to the adoption of SOP 03-1.", + "In the fourth quarter of 2004 the Company committed to the sale or exit of its Dryden Wealth Management Business and results for the fourth quarter include a charge of $53 million for the impairment of goodwill associated with this business.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The effective income tax rate for 2016 was impacted by a tax benefit associated with U. S. federal tax return filings, a benefit resulting from the reduction of our German reserves as a result of the conclusion of an audit, a benefit resulting from the expiration of various statutes of limitation, and a benefit associated with the IP R&D asset impairment referenced in Note 4.", + "The Company and its subsidiaries are routinely subject to examinations by various taxing authorities.", + "In conjunction with these examinations and as a regular practice, the Company establishes and adjusts reserves with respect to its uncertain tax positions to address developments related to those positions.", + "The Company realized a net benefit of approximately $5.2 million in 2017 as a result of reducing its reserves with respect to uncertain tax positions, principally due to the expiration of a number of applicable statutes of limitations.", + "The Company realized a net benefit of approximately $8.8 million in 2016, as a result of reducing its reserves with respect to uncertain tax positions, principally due to the conclusion of a tax audit in Germany and the expiration of various statutes of limitations.", + "The Company realized a net benefit of approximately $4.6 million in 2015, which resulted from a reduction in the Company's U. S. reserves due to the conclusion of a tax audit, offset by an increase in the Company's foreign reserves with respect to developments in the tax audit in Germany discussed above.", + "The following table summarizes significant components of the Company\u2019s deferred tax assets and liabilities at December?31, 2017 and?2016:", + "||2017|2016|\n||(Dollars in thousands)|\n|Deferred tax assets:|||\n|Tax loss and credit carryforwards|$210,055|$136,046|\n|Pension|28,147|46,563|\n|Reserves and accruals|62,378|52,343|\n|Other|3,619|17,704|\n|Less: valuation allowances|-104,799|-104,520|\n|Total deferred tax assets|199,400|148,136|\n|Deferred tax liabilities:|||\n|Property, plant and equipment|22,299|32,209|\n|Intangibles \u2014 stock acquisitions|553,245|321,707|\n|Unremitted foreign earnings|223,494|63,419|\n|Other|228|466|\n|Total deferred tax liabilities|799,266|417,801|\n|Net deferred tax liability|$-599,866|$-269,665|\n", + "As a result of the TCJA, the Company reassessed and revalued its deferred tax positions at December 31, 2017.", + "As a result, the Company recognized a $46.1 million decrease in the net deferred tax liability in 2017.", + "Under the tax laws of various jurisdictions in which the Company operates, deductions or credits that cannot be fully utilized for tax purposes during the current year may be carried forward, subject to statutory limitations, to reduce taxable income or taxes payable in a future tax year.", + "At December?31, 2017, the tax effect of such carryforwards approximated $210.1 million.", + "Of this amount, $11.5 million has no expiration date, $2.0 million expires after 2017 but before the end of 2022 and $196.6 million expires after 2022.", + "A portion of these carryforwards consists of tax losses and credits obtained by the Company as a result of acquisitions; the utilization of these carryforwards are subject to an annual limitation imposed by Section?382 of the Internal Revenue Code, which limits a company\u2019s ability to deduct prior net operating losses following a more than 50 percent change in ownership.", + "It is not expected that the Section?382 limitation will prevent the Company ultimately from utilizing the applicable loss carryforwards.", + "The determination of state net operating loss carryforwards is dependent upon the United States?subsidiaries\u2019 taxable income or loss, the state\u2019s proportion of each subsidiary's taxable net income and the application of state laws, which can change from year to year and impact the amount of such carryforward.", + "The valuation allowance for deferred tax assets of $104.8 million and $104.5 million at December?31, 2017 and?2016, respectively, relates principally to the uncertainty of the Company\u2019s ability to utilize certain deferred tax", + "$3.8 bllin at the end of fiscal 2007.", + "Working capital, the excess of current assets over current liabilities, was $0.6 bllion at the end of fiscal 2008, down from $2.8 bllin at the end of fiscal 2007.", + "The decreases in cosh and cash equivolents, short-term investments and working capital were due primarily to the liquidation of a substantial portion of our investment portfolio to repay debt and to fund our ASR program.", + "In addition, at March 1, 2008, we ecassified $4 17 miion (par value) of our short-term investments in auction-rate securities to non-current assets within equity and other investments in our consolidoted balance sheet given the uncertainty of when these investments can be successfully liquidated at par as a result of the current market failures for auction-rate securities as described below.", + "In accordance with our investment policy, we invest with issuers who have high-quality credit and limit the amount of investment exposure to any one ssuer.", + "The primary objective of our investment activities is to preserve principal and maintain a desired level of liquidity to meet working capital needs.", + "We seek to preserve principal and minimize exposure to interest- rate fluctuations by limiting default risk, market risk and reinvestment risk.", + "All investment debt securities we own are investment grade.", + "We do not have any investments in securities that are collateralized by assets that include mortgages or subprime debt.", + "The vast majority of our investments in auction-rate securities are AAA/Aaa-rated and collateralized by student loans, which are guaranteed 95% to 100% by the U. S. government.", + "Until February 2008, the market for auction-rate securities was highly liquid.", + "Begining February 11, 2008, a substantial number of auctions began to fail as the amount of securities submitted for sale in those auctions exceeded the aggregate amount of the bids.", + "Substantially all of our auction-rate securities portfolio at March 1, 2008, has been subject to failed audions.", + "For each unsuccessful audion, the interest rate moves to a maximum rate defined for each security.", + "To date, we have collected all interest due on our audion-rate securities and expect to continue to do so in the future.", + "Since March 1, 2008 and through April 25, 2008, we have liquidated $20 million of auction-rate securities at par value.", + "At April 25, 2008, our auction-rate securities portfolio was $397 million (par value).", + "The principal associated with failed auctions will not be accessible until successful auctions occur, a buyer is found outside of the auction process, the issuers establish a different form of financing to replace these securities, or final payments come due according to the contractual maturities of the debt issues, which range from 8 to 40 years.", + "We believe that the credit quality of our auction-rote securities is high and that we will ultimately recover all amounts invested in these securities.", + "We do not believe the current iliquidity of these investments will have a material impact on our ability to execute our business plans as described below in the Outlook for Fiscal 2009 section of this MD&A.", + "Our liquidity is also ffected by restricted cash and investments in debt securities that are pledged as collateral or restricted to use for vendor payables, general liability insurance, workers' compensation insurance and warranty programs.", + "Restrided cash and investments in debt securities totaled $ 408 million and $382 million at March 1, 2008, and March 3, 2007, respectively, and were included in other current assets or equity and other invest ments.", + "Cash Flows The following table summarizes our cash flows from operating, investing and financing activities for each of the past three fiscal years ($ in millions):", + "||2008|2007|2006|\n|Total cash provided by (used in):||||\n|Operating activities|$2,025|$1,762|$1,740|\n|Investing activities|1,464|-780|-754|\n|Financing activities|-3,378|-513|-619|\n|Effect of exchange rate changes on cash|122|-12|27|\n|Increase in cash and cash equivalents|$233|$457|$394|\n", + "ITEM 2.", + "PROPERTIES Our worldwide headquarters is located on a 35-acre office complex in Atlanta, Georgia.", + "The complex includes our 621,000 square foot headquarters building and an 870,000 square foot building in which our North America group\u2019s main offices are located.", + "The complex also includes several other buildings, including our 264,000 square foot Coca-Cola Plaza building, technical and engineering facilities and a reception center.", + "We also own an office and retail building at 711 Fifth Avenue in New York, New York.", + "These properties, except for the North America group\u2019s main offices, are included in Corporate.", + "The North America group\u2019s main offices are included in the North America operating segment.", + "We own or lease additional facilities, real estate and office space throughout the world which we use for administrative, manufacturing, processing, packaging, storage, warehousing, distribution and retail operations.", + "These properties are generally included in the geographic operating segment in which they are located.", + "The following table summarizes our principal production, distribution and storage facilities by operating segment and Corporate as of December 31, 2018:", + "||Principal Concentrate and/or Syrup Plants|Principal Beverage Manufacturing/Bottling Plants|Distribution and Storage Warehouses|\n||Owned|Leased|Owned|Leased|Owned|Leased|\n|Europe, Middle East & Africa|6|\u2014|\u2014|\u2014|\u2014|1|\n|Latin America|5|\u2014|\u2014|\u2014|2|6|\n|North America|11|\u2014|9|1|\u2014|41|\n|Asia Pacific|6|\u2014|\u2014|\u2014|2|9|\n|Bottling Investments|\u2014|\u2014|45|5|64|69|\n|Corporate|3|\u2014|\u2014|\u2014|\u2014|7|\n|Total1|31|\u2014|54|6|68|133|\n", + "1 Does not include 36 owned and 2 leased principal beverage manufacturing/bottling plants and 23 owned and 30 leased distribution and storage warehouses related to our discontinued operations.", + "Management believes that our Company\u2019s facilities for the production of our products are suitable and adequate, that they are being appropriately utilized in line with past experience, and that they have sufficient production capacity for their present intended purposes.", + "The extent of utilization of such facilities varies based upon seasonal demand for our products.", + "However, management believes that additional production can be achieved at the existing facilities by adding personnel and capital equipment and, at some facilities, by adding shifts of personnel or expanding the facilities.", + "We continuously review our anticipated requirements for facilities and, on the basis of that review, may from time to time acquire or lease additional facilities and/or dispose of existing facilities.", + "ITEM 3.", + "LEGAL PROCEEDINGS The Company is involved in various legal proceedings, including the proceedings specifically discussed below.", + "Management believes that, except as disclosed in U. S. Federal Income Tax Dispute below, the total liabilities of the Company that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Company taken as a whole.", + "Aqua-Chem Litigation On December 20, 2002, the Company filed a lawsuit (The Coca-Cola Company v. Aqua-Chem, Inc. , Civil Action No.2002CV631-50) in the Superior Court of Fulton County, Georgia (\u201cGeorgia Case\u201d), seeking a declaratory judgment that the Company has no obligation to its former subsidiary, Aqua-Chem, Inc. , now known as Cleaver-Brooks, Inc. (\u201cAqua-Chem\u201d), for any past, present or future liabilities or expenses in connection with any claims or lawsuits against Aqua-Chem.", + "Subsequent to the Company\u2019s filing but on the same day, Aqua-Chem filed a lawsuit (Aqua-Chem, Inc. v. The Coca-Cola Company, Civil Action No.02CV012179) in the Circuit Court, Civil Division of Milwaukee County, Wisconsin (\u201cWisconsin Case\u201d).", + "In the Wisconsin Case, Aqua-Chem sought a declaratory judgment that the Company is responsible for all liabilities and expenses not covered by insurance in connection with certain of Aqua-Chem\u2019s general and product liability claims arising from occurrences prior to the Company\u2019s sale of Aqua-Chem in 1981, and a judgment for breach of contract in an amount exceeding $9 million for costs incurred by Aqua-Chem to date in connection with such claims.", + "The Wisconsin Case initially was stayed, pending final resolution of the Georgia Case, and later was voluntarily dismissed without prejudice by Aqua-Chem.", + "The Company owned Aqua-Chem from 1970 to 1981.", + "During that time, the Company purchased over $400 million of insurance coverage, which also insures Aqua-Chem for some of its prior and future costs for certain product liability and other claims.", + "The Company sold Aqua-Chem to Lyonnaise American Holding, Inc. , in 1981 under the terms of a stock sale agreement.", + "The 1981 agreement, and a subsequent 1983 settlement agreement, outlined the parties\u2019 rights and obligations concerning past and future", + "In addition to the consolidated operating results shown on the previous page, consolidated results for 2007 and adjusted growth rates for 2008 and 2007 are presented in the following table excluding the impact of the Latam transaction.", + "These results include the effect of foreign currency translation further discussed in the section titled Impact of foreign currency translation on reported results.", + "While the Company has converted certain other markets to a developmental license arrangement, management believes the Latam transaction and the associated charge are not indicative of ongoing operations due to the size and scope of the transaction.", + "Management believes that the adjusted operating results better reflect the underlying business trends relevant to the periods presented.", + "|Dollars in millions, except per share data| 2008|2007-1|Latam Transaction -1|2007ExcludingLatamTransaction|2006| 2008 Adjusted % Inc|2007 Adjusted% Inc|\n|Operating income|$6,443|$3,879|$-1,641|$5,520|$4,433| 17|25|\n|Income from continuing operations|4,313|2,335|-1,579|3,914|2,866| 10|37|\n|Income from discontinued operations||60||60|678| nm|nm|\n|Net income|4,313|2,395|-1,579|3,974|3,544| 9|12|\n|Income per common share \u2013 diluted||||||||\n|Continuing operations-2,3|3.76|1.93|-1.30|3.23|2.29| 16|41|\n|Discontinued operations||0.05||0.05|0.54| nm|nm|\n|Net income-2,3|3.76|1.98|-1.30|3.28|2.83| 15|16|\n", + "nm Not meaningful.", + "(1) The results for the full year 2007 included impairment and other charges of $1,665 million, partly offset by a benefit of $24 million due to eliminating depreciation on the assets in Latam in mid-April 2007, and a tax benefit of $62 million.", + "(2) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2008 compared with 2007.", + "On a net basis, these items negatively impact the comparison by 7 and 6 percentage points, respectively: 2008 ?", + "$0.09 per share gain on the sale of the Company\u2019s minority interest in Pret A Manger.2007 ?", + "$0.26 per share of income tax benefit resulting from the completion of an Internal Revenue Service (IRS) examination of the Company\u2019s 2003-2004 U. S. federal income tax returns; partly offset by ?", + "$0.02 per share of income tax expense related to the impact of a tax law change in Canada.", + "(3) The following items impact the comparison of adjusted growth in diluted income per share from continuing operations and diluted net income per share for the year ended December 31, 2007 compared with 2006.", + "On a net basis, these items positively impact the comparison by 15 and 12 percentage points, respectively: 2007 ?", + "$0.26 per share of income tax benefit resulting from the completion of an IRS examination of the Company\u2019s 2003-2004 U. S. federal income tax returns; partly offset by ?", + "$0.02 per share of income tax expense related to the impact of a tax law change in Canada.2006 ?", + "$0.08 per share of operating expenses primarily related to strategic actions taken to enhance overall profitability and improve returns; and ?", + "$0.01 per share of incremental income tax expense primarily related to the impact of a tax law change in Canada.", + "Net income and diluted net income per common share In 2008, net income and diluted net income per common share were $4.3 billion and $3.76.", + "Results benefited by a $109 million, or $0.09 per share, gain on the sale of the Company\u2019s minority interest in Pret A Manger.", + "In 2007, net income and diluted net income per common share were $2.4 billion and $1.98.", + "Income from continuing operations was $2.3 billion or $1.93 per share, which included $1.6 billion or $1.30 per share of net expense related to the Latam transaction.", + "This reflects an impairment charge of $1.32 per share, partly offset by a $0.02 per share benefit due to eliminating depreciation on the assets in Latam in mid-April 2007 in accordance with accounting rules.", + "In addition, 2007 results included a net tax benefit of $288 million or $0.24 per share resulting from the completion of an IRS examination of the Company\u2019s 2003-2004 U. S. federal income tax returns, partly offset by the impact of a tax law change in Canada.", + "Income from discontinued operations was $60 million or $0.05 per share.", + "In 2006, net income and diluted net income per common share were $3.5 billion and $2.83.", + "Income from continuing operations was $2.9 billion or $2.29 per share, which included $134 million ($98 million after tax or $0.08 per share) of impairment and other charges primarily related to strategic actions taken to enhance overall profitability and improve returns, as well as $0.01 per share of net incremental income tax expense primarily related to the impact of a tax law change in Canada.", + "Income from discontinued operations was $678 million or $0.54 per share.", + "Refer to the Impairment and other charges, net and Dis\u0002continued operations sections for further discussion.", + "The Company repurchased 69.7 million shares of its stock for $4.0 billion in 2008 and 77.1 million shares for $3.9 billion in 2007, driving reductions of over 4% and 3% of total shares out\u0002standing, respectively, net of stock option exercises.", + "maintenance and contract expenses incurred by our subsidiaries for external transportation services); materials used to maintain the Railroad\u2019s lines, structures, and equipment; costs of operating facilities jointly used by UPRR and other railroads; transportation and lodging for train crew employees; trucking and contracting costs for intermodal containers; leased automobile maintenance expenses; and tools and supplies.", + "Expenses for contract services increased $103 million in 2012 versus 2011, primarily due to increased demand for transportation services purchased by our logistics subsidiaries for their customers and additional costs for repair and maintenance of locomotives and freight cars.", + "Expenses for contract services increased $106 million in 2011 versus 2010, driven by volume-related external transportation services incurred by our subsidiaries, and various other types of contractual services, including flood-related repairs, mitigation and improvements.", + "Volume-related crew transportation and lodging costs, as well as expenses associated with jointly owned operating facilities, also increased costs compared to 2010.", + "In addition, an increase in locomotive maintenance materials used to prepare a portion of our locomotive fleet for return to active service due to increased volume and additional capacity for weather related issues and warranty expirations increased expenses in 2011.", + "Depreciation \u2013 The majority of depreciation relates to road property, including rail, ties, ballast, and other track material.", + "A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2012 compared to 2011.", + "A higher depreciable asset base, reflecting ongoing capital spending, increased depreciation expense in 2011 compared to 2010.", + "Higher depreciation rates for rail and other track material also contributed to the increase.", + "The higher rates, which became effective January 1, 2011, resulted primarily from increased track usage (based on higher gross ton-miles in 2010).", + "Equipment and Other Rents \u2013 Equipment and other rents expense primarily includes rental expense that the Railroad pays for freight cars owned by other railroads or private companies; freight car, intermodal, and locomotive leases; and office and other rent expenses.", + "Increased automotive and intermodal shipments, partially offset by improved car-cycle times, drove an increase in our short-term freight car rental expense in 2012.", + "Conversely, lower locomotive lease expense partially offset the higher freight car rental expense.", + "Costs increased in 2011 versus 2010 as higher short-term freight car rental expense and container lease expense offset lower freight car and locomotive lease expense.", + "Other \u2013 Other expenses include personal injury, freight and property damage, destruction of equipment, insurance, environmental, bad debt, state and local taxes, utilities, telephone and cellular, employee travel, computer software, and other general expenses.", + "Other costs in 2012 were slightly higher than 2011 primarily due to higher property taxes.", + "Despite continual improvement in our safety experience and lower estimated annual costs, personal injury expense increased in 2012 compared to 2011, as the liability reduction resulting from historical claim experience was less than the reduction in 2011.", + "Higher property taxes, casualty costs associated with destroyed equipment, damaged freight and property and environmental costs increased other costs in 2011 compared to 2010.", + "A one-time payment of $45 million in the first quarter of 2010 related to a transaction with CSXI and continued improvement in our safety performance and lower estimated liability for personal injury, which reduced our personal injury expense year-over-year, partially offset increases in other costs." + ], + "question_id": "simplong-test-154", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Commercial of Gross Recoveries in relation to the total in 2014?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CITIZENS FINANCIAL GROUP, INC.", + "SELECTED STATISTICAL INFORMATION", + "||As of and for the Year Ended December 31,|\n|(dollars in millions)|2014|2013|2012|2011|2010|\n|Gross Charge-offs:||||||\n|Commercial|-$31|-$72|-$127|-$170|-$267|\n|Commercial real estate|-12|-36|-129|-208|-420|\n|Leases|\u2014|\u2014|-1|\u2014|-1|\n|Total commercial|-43|-108|-257|-378|-688|\n|Residential mortgages|-36|-54|-85|-98|-121|\n|Home equity loans|-55|-77|-121|-124|-131|\n|Home equity lines of credit|-80|-102|-118|-106|-112|\n|Home equity loans serviced by others-2|-55|-119|-220|-300|-443|\n|Home equity lines of credit serviced by others-2|-12|-27|-48|-66|-97|\n|Automobile|-41|-19|-29|-47|-94|\n|Student|-54|-74|-88|-97|-118|\n|Credit cards|-64|-68|-68|-85|-176|\n|Other retail|-53|-55|-76|-85|-111|\n|Total retail|-450|-595|-853|-1,008|-1,403|\n|Total gross charge-offs|-$493|-$703|-$1,110|-$1,386|-$2,091|\n|Gross Recoveries:||||||\n|Commercial|$35|$46|$64|$42|$33|\n|Commercial real estate|23|40|47|47|23|\n|Leases|\u2014|1|2|3|1|\n|Total commercial|58|87|113|92|57|\n|Residential mortgages|11|10|16|15|11|\n|Home equity loans|24|26|27|27|32|\n|Home equity lines of credit|15|19|9|9|5|\n|Home equity loans serviced by others-2|21|23|22|18|16|\n|Home equity lines of credit serviced by others-2|5|5|5|4|4|\n|Automobile|20|12|21|35|46|\n|Student|9|13|14|12|57|\n|Credit cards|7|7|8|9|14|\n|Other retail|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total retail|112|115|122|129|185|\n|Total gross recoveries|$170|$202|$235|$221|$242|\n|Net (Charge-offs)/Recoveries:||||||\n|Commercial|$4|-$26|-$63|-$128|-$234|\n|Commercial real estate|11|4|-82|-161|-397|\n|Leases|\u2014|1|1|3|\u2014|\n|Total commercial|15|-21|-144|-286|-631|\n|Residential mortgages|-25|-44|-69|-83|-110|\n|Home equity loans|-31|-51|-94|-97|-99|\n|Home equity lines of credit|-65|-83|-109|-97|-107|\n|Home equity loans serviced by others-2|-34|-96|-198|-282|-427|\n|Home equity lines of credit serviced by others-2|-7|-22|-43|-62|-93|\n|Automobile|-21|-7|-8|-12|-48|\n|Student|-45|-61|-74|-85|-61|\n|Credit cards|-57|-61|-60|-76|-162|\n|Other retail|-53|-55|-76|-85|-111|\n|Total retail|-338|-480|-731|-879|-1,218|\n|Total net (charge-offs)/recoveries|-$323|-$501|-$875|-$1,165|-$1,849|\n|Ratio of net charge-offs to average loans and leases|-0.36%|-0.59%|-1.01%|-1.35%|-2.04%|\n", + "The estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed, including a reconciliation to the total purchase consideration, are as follows (in thousands):", + "|Cash|$45,826|\n|Customer-related intangible assets|42,721|\n|Acquired technology|27,954|\n|Trade name|2,901|\n|Other assets|2,337|\n|Deferred income tax assets (liabilities)|-9,788|\n|Other liabilities|-49,797|\n|Total identifiable net assets|62,154|\n|Goodwill|203,828|\n|Total purchase consideration|$265,982|\n", + "Goodwill of $203.8 million arising from the acquisition, included in the Asia-Pacific segment, was attributable to expected growth opportunities in Australia and New Zealand, as well as growth opportunities and operating synergies in integrated payments in our existing Asia-Pacific and North America markets.", + "Goodwill associated with this acquisition is not deductible for income tax purposes.", + "The customer-related intangible assets have an estimated amortization period of 15 years.", + "The acquired technology has an estimated amortization period of 15 years.", + "The trade name has an estimated amortization period of 5 years.", + "NOTE 3 \u2014 SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS Funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants.", + "For transactions processed on our systems, we use our internal network to provide funding instructions to financial institutions that in turn fund the merchants.", + "We process funds settlement under two models, a sponsorship model and a direct membership model.", + "Under the sponsorship model, we are designated as a Merchant Service Provider by MasterCard and an Independent Sales Organization by Visa, which means that member clearing banks (\u201cMember\u201d) sponsor us and require our adherence to the standards of the payment networks.", + "In certain markets, we have sponsorship or depository and clearing agreements with financial institution sponsors.", + "These agreements allow us to route transactions under the Members\u2019 control and identification numbers to clear credit card transactions through MasterCard and Visa.", + "In this model, the standards of the payment networks restrict us from performing funds settlement or accessing merchant settlement funds, and, instead, require that these funds be in the possession of the Member until the merchant is funded.", + "Under the direct membership model, we are members in various payment networks, allowing us to process and fund transactions without third-party sponsorship.", + "In this model, we route and clear transactions directly through the card brand\u2019s network and are not restricted from performing funds settlement.", + "Otherwise, we process these transactions similarly to how we process transactions in the sponsorship model.", + "We are required to adhere to the standards of the payment networks in which we are direct members.", + "We maintain relationships with financial institutions, which may also serve as our Member sponsors for other card brands or in other markets, to assist with funds settlement.", + "Timing differences, interchange fees, Merchant Reserves and exception items cause differences between the amount received from the payment networks and the amount funded to the merchants.", + "These intermediary balances arising in our settlement process for direct merchants are reflected as settlement processing assets and obligations on our consolidated balance sheets.", + "Settlement processing assets and obligations include the components outlined below: ?", + "Interchange reimbursement.", + "Our receivable from merchants for the portion of the discount fee related to reimbursement of the interchange fee.", + "x The Executive Benefits business offers corporate-owned universal and variable universal life insurance (\u201cCOLI\u201d) and bank\u0002owned universal and variable universal life insurance (\u201cBOLI\u201d) to small to mid-sized banks and mid to large-sized corporations, mostly through executive benefit brokers.11 The Group Protection segment focuses on offering group term life, disability income and dental insurance primarily in the small to mid-sized employer marketplace for their eligible employees.", + "Employer Markets - Retirement Products The Defined Contribution business is the largest business in this segment and focuses on 403(b) plans and 401(k) plans.", + "Lincoln has a strong historical presence in the 403(b) space where assets account for about 61% of total assets under management in this segment as of December 31, 2007.", + "The 401(k) business accounts for 51% of our new deposits as of December 31, 2007.", + "The Retirement Products segment\u2019s deposits (in millions) were as follows:", + "|| For the Years Ended December 31,|\n|| 2007| 2006| 2005|\n|Variable portion of variable annuity|$2,355|$2,525|$2,254|\n|Fixed portion of variable annuity|351|441|520|\n|Total variable annuity|2,706|2,966|2,774|\n|Fixed annuity|754|506|563|\n|Alliance Mutual Fund|2,090|1,113|1,066|\n|Total annuity and Alliance|5,550|4,585|4,403|\n|COLI and BOLI|303|267|210|\n|Total deposits|$5,853|$4,852|$4,613|\n", + "Retirement Products - Defined Contribution Products Employer Markets currently offers four primary products to the employer-sponsored market: Lincoln American Legacy RetirementSM, LINCOLN DIRECTORSM, LINCOLN ALLIANCE?", + "and Multi-Fund?.", + "Lincoln American Legacy RetirementSM , LINCOLN DIRECTORSM and Multi-Fund?", + "products are group variable annuities.", + "LINCOLN ALLIANCE?", + "is a mutual fund-based product.", + "These products cover both the 403(b) and 401(k) marketplace.", + "Both 403(b) and 401(k) plans are tax-deferred, defined contribution plans offered to employees of an entity to enable them to save for retirement.", + "The 403(b) plans are available to employees of educational institutions and certain non-profit entities, while 401(k) plans are generally available to employees of for\u0002profit entities.", + "The investment options for our annuities encompass the spectrum of asset classes with varying levels of risk and include both equity and fixed income.", + "As of December 31, 2007, healthcare clients accounted for 43% of account values for these products.", + "The Lincoln American Legacy RetirementSM variable annuity, launched in the third quarter of 2006, offers 51 investment options with 10 fund families, 20 of which are American Funds?", + "options.", + "This product is focused on the micro to small corporate 401(k) market.", + "LALR account values were $49 million as of December 31, 2007.", + "LINCOLN DIRECTORSM is a defined contribution retirement plan solution available to businesses of all sizes, but focused on micro- to small-sized corporations, generally with five to 200 lives.", + "Funded through a Lincoln National Life Insurance Company (\u201cLNL\u201d) group variable annuity contract, LINCOLN DIRECTORSM offers participants 60 investment options from 15 fund families.", + "In New York, Lincoln Life & Annuity Company of New York (\u201cLLANY\u201d) underwrites the annuity contracts, and these contracts offer 57 investment options from 16 fund families.", + "LINCOLN DIRECTORSM has the option of being serviced through a third-party administrator or fully serviced by Lincoln.", + "The Employer Markets Defined Contribution segment earns advisory fees, investment income, surrender charges and recordkeeping fees from this product.", + "Account values for LINCOLN DIRECTORSM were $7.7 billion, $7.5 billion and $6.5 billion as of December 31, 2007, 2006 and 2005, respectively.", + "Deposits for LINCOLN DIRECTORSM were $1.5 billion, $1.7 billion and $1.6 billion as of December 31, 2007, 2006 and 2005, respectively.", + "The LINCOLN ALLIANCE?", + "program, with an open architecture platform, bundles our traditional fixed annuity products with the employer\u2019s choice of retail mutual funds, along with recordkeeping and customized employee education components.", + "We earn fees for the services we provide to mutual fund accounts and investment margins on fixed annuities of LINCOLN ALLIANCE?", + "program accounts.", + "The retail mutual funds associated with this program are not included in the separate accounts reported on our Consolidated Balance Sheets.", + "This program is customized for each employer.", + "The target market is primarily education and" + ], + "question_id": "simplong-test-155", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "from 2014 to 2016 , what was the total amount of money they can deduct from their future income tax due to amortization?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) 102 Employee Stock Purchase Plans Under the ESPP, substantially all employees may purchase Applied common stock through payroll deductions at a price equal to 85 percent of the lower of the fair market value of Applied common stock at the beginning or end of each 6-month purchase period, subject to certain limits.", + "Based on the Black-Scholes option pricing model, the weighted average estimated fair value of purchase rights under the ESPP was $3.08 per share for the year ended October 27, 2013, $2.73 per share for the year ended October 28, 2012 and $3.03 per share for the year ended October 30, 2011.", + "The number of shares issued under the ESPP during fiscal 2013, 2012 and 2011 was 7 million, 7 million and 6 million, respectively.", + "At October 27, 2013, there were 40 million available for future issuance under the ESPP.", + "Compensation expense is calculated using the fair value of the employees\u2019 purchase rights under the Black-Scholes model.", + "Underlying assumptions used in the model for fiscal 2013, 2012 and 2011 are outlined in the following table:", + "||2013|2012|2011|\n|ESPP:||||\n|Dividend yield|2.80%|3.01%|2.53%|\n|Expected volatility|24.8%|29.6%|31.1%|\n|Risk-free interest rate|0.09%|0.13%|0.09%|\n|Expected life (in years)|0.5|0.5|0.5|\n", + "Note 13 Employee Benefit Plans Employee Bonus Plans Applied has various employee bonus plans.", + "A discretionary bonus plan provides for the distribution of a percentage of pre\u0002tax income to Applied employees who are not participants in other performance-based incentive plans, up to a maximum percentage of eligible compensation.", + "Other plans provide for bonuses to Applied\u2019s executives and other key contributors based on the achievement of profitability and/or other specified performance criteria.", + "Charges under these plans were $269 million for fiscal 2013, $271 million for fiscal 2012, and $319 million charges for fiscal 2011.", + "Employee Savings and Retirement Plan Applied\u2019s Employee Savings and Retirement Plan (the 401(k) Plan) is qualified under Sections 401(a) and (k) of the Internal Revenue Code (the Code).", + "Effective as of the close of the stock market on December 31, 2012, the Varian-sponsored 401(k) plan was merged with and into the 401(k) Plan, with the 401(k) Plan being the surviving plan.", + "Eligible employees may make salary deferral and catch-up contributions under the 401(k) Plan on a pre-tax basis and/or (effective as of the first payroll period beginning on or after December 22, 2012) on a Roth basis, subject to an annual dollar limit established by the Code.", + "Applied matches 100% of participant salary and/or Roth deferral contributions up to the first 3% of eligible contribution and then 50% of every dollar between 4% and 6% of eligible contribution.", + "Applied does not make matching contributions on any catch-up contributions made by participants.", + "Plan participants who were employed by Applied or any of its affiliates on or after January 1, 2010 became 100% vested in their Applied matching contribution account balances.", + "Applied\u2019s matching contributions under the 401(k) Plan were approximately $29 million, net of $1 million in forfeitures for fiscal 2013, $37 million for fiscal 2012 and $27 million for fiscal 2011.", + "PART I Item 1: Business Incorporated in 1967, Applied, a Delaware corporation, provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries.", + "Applied\u2019s customers include manufacturers of semiconductor wafers and chips, flat panel liquid crystal and other displays, solar PV cells and modules, and other electronic devices.", + "These customers may use what they manufacture in their own end products or sell the items to other companies for use in advanced electronic components.", + "Applied\u2019s fiscal year ends on the last Sunday in October.", + "Applied operates in four reportable segments: Silicon Systems Group, Applied Global Services, Display, and Energy and Environmental Solutions.", + "Applied manages its business based upon these segments.", + "A summary of financial information for each reportable segment is found in Note 16 of Notes to Consolidated Financial Statements.", + "A discussion of factors that could affect operations is set forth under \u201cRisk Factors\u201d in Item 1A, which is incorporated herein by reference.", + "Net sales by reportable segment for the past three fiscal years were as follows:", + "||2014|2013|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$5,978|66%|$4,775|64%|$5,536|64%|\n|Applied Global Services|2,200|24%|2,023|27%|2,285|26%|\n|Display|615|7%|538|7%|473|5%|\n|Energy and Environmental Solutions|279|3%|173|2%|425|5%|\n|Total|$9,072|100%|$7,509|100%|$8,719|100%|\n", + "Silicon Systems Group Segment The Silicon Systems Group segment develops, manufactures and sells manufacturing equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs).", + "Most chips are built on a silicon wafer base and include a variety of circuit components, such as transistors and other devices, that are connected by multiple layers of wiring (interconnects).", + "Applied offers systems that perform various processes used in chip fabrication, including chemical vapor deposition (CVD), physical vapor deposition (PVD), etch, electrochemical deposition (ECD), rapid thermal processing (RTP), ion implantation, chemical mechanical planarization (CMP), epitaxy (Epi), wet cleaning, atomic layer deposition (ALD), wafer metrology and inspection, and systems that etch or inspect circuit patterns on masks used in the photolithography process.", + "Applied\u2019s semiconductor manufacturing systems are used by integrated device manufacturers and foundries to build and package memory, logic and other types of chips.", + "The majority of the Company's new equipment sales are for leading-edge technology for advanced 2X nanometer (nm) nodes and smaller dimensions.", + "To build a chip, the transistors, capacitors and other circuit components are first created on the surface of the wafer by performing a series of processes to deposit and selectively remove portions of successive film layers.", + "Similar processes are then used to build the layers of wiring structures on the wafer.", + "As the density of the circuit components increases to enable greater computing capability in the same or smaller physical area, the complexity of building the chip also increases, necessitating more process steps to form smaller transistor structures and more intricate wiring schemes.", + "Advanced chip designs require more than 500 steps involving these and other processes to complete the manufacturing cycle.", + "APPLIED MATERIALS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The following table summarizes information with respect to options outstanding and exercisable at October 26, 2014:", + "||Options Outstanding|Options Exercisable|\n|Range ofExercise Prices|Number ofShares (In millions)|WeightedAverageExercisePrice|WeightedAverageRemainingContractualLife (In years)|AggregateIntrinsicValue (In millions)|Number ofShares (In millions)|WeightedAverageExercisePrice|AggregateIntrinsicValue (In millions)|\n|$3.36 \u2014 $9.99|1|$5.31|1.81|$12|1|$5.30|$12|\n|$10.00 \u2014 $15.06|1|$14.96|5.59|7|\u2014|$14.71|2|\n||2|$10.87|3.99|$19|1|$7.97|$14|\n|Options exercisable and expected to become exercisable|2|$10.87|3.99|$19||||\n", + "Option prices at the lower end of the range were principally attributable to stock options assumed in connection with the Varian acquisition in fiscal year 2012.", + "Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units Restricted stock units are converted into shares of Applied common stock upon vesting on a one-for-one basis.", + "Restricted stock has the same rights as other issued and outstanding shares of Applied common stock except these shares generally have no right to dividends and are held in escrow until the award vests.", + "Performance shares and performance units are awards that result in a payment to a grantee, generally in shares of Applied common stock on a one-for-one basis if performance goals and/or other vesting criteria established by the Human Resources and Compensation Committee of Applied's Board of Directors (the Committee) are achieved or the awards otherwise vest.", + "Restricted stock units, restricted stock, performance shares and performance units typically vest over four years and vesting is usually subject to the grantee\u2019s continued service with Applied and, in some cases, achievement of specified performance goals.", + "The compensation expense related to the service-based awards is determined using the fair market value of Applied common stock on the date of the grant, and the compensation expense is recognized over the vesting period.", + "Restricted stock, performance shares and performance units granted to certain executive officers are subject to the achievement of specified performance goals (performance-based awards).", + "These performance-based awards become eligible to vest only if performance goals are achieved and then actually will vest only if the grantee remains employed by Applied through each applicable vesting date.", + "These performance-based awards require the achievement of targeted levels of adjusted annual operating profit margin.", + "For the fiscal 2013 performance-based awards, additional shares become eligible for time-based vesting if Applied achieves certain levels of total shareholder return (TSR) relative to a peer group, comprised of companies in the Standard & Poor's 500 Information Technology Index, measured at the end of a two-year period.", + "The fair value of these performance-based awards is estimated on the date of grant and assumes that the specified performance goals will be achieved.", + "If the goals are achieved, these awards vest over a specified remaining service period of generally three or four years, provided that the grantee remains employed by Applied through each scheduled vesting date.", + "If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed.", + "The expected cost of each award is reflected over the service period and is reduced for estimated forfeitures.", + "Fiscal 2012 was characterized by significant fluctuations in demand for semiconductor equipment, coupled with an extremely weak market environment for display and solar equipment.", + "Applied completed its acquisition of Varian Semiconductor Equipment Associates, Inc. (Varian) in the first quarter of fiscal 2012.", + "Mobility was the greatest influence on semiconductor industry spending in fiscal 2012.", + "Investment levels for display equipment were low in fiscal 2012 due to decreased capacity requirements for larger flat panel televisions, while demand for mobility products, such as smartphones and tablets, significantly influenced equipment spending.", + "In the solar industry, fiscal 2012 was characterized by excess manufacturing capacity, which led to significantly reduced demand for crystalline-silicon (c-Si) equipment, as well as weak operating performance and outlook.", + "New Orders New orders by reportable segment for the past three fiscal years were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Silicon Systems Group|$6,132|64%|11%|$5,507|65%|4%|$5,294|66%|\n|Applied Global Services|2,433|25%|16%|2,090|25%|-8%|2,274|28%|\n|Display|845|9%|20%|703|8%|157%|274|4%|\n|Energy and Environmental Solutions|238|2%|43%|166|2%|-15%|195|2%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "New orders increased in fiscal 2014 from fiscal 2013 across all segments, primarily due to higher demand for semiconductor equipment, semiconductor spares and services, and display equipment.", + "New orders for the Silicon Systems Group and Applied Global Services continued to comprise a majority of Applied's consolidated total new orders.", + "New orders for fiscal 2013 increased compared to fiscal 2012, primarily due to a recovery in demand for display manufacturing equipment and increased demand in semiconductor equipment, partially offset by lower demand for service products, as well as depressed demand for c-Si solar equipment due to excess manufacturing capacity in the solar industry.", + "New orders by geographic region, determined by the product shipment destination specified by the customer, were as follows:", + "||2014|Change2014 over 2013|2013|Change2013 over 2012|2012|\n||(In millions, except percentages)|\n|Taiwan|$2,740|28%|-5%|$2,885|34%|34%|$2,155|27%|\n|China|1,517|16%|13%|1,339|16%|232%|403|5%|\n|Korea|1,086|11%|19%|915|11%|-49%|1,784|22%|\n|Japan|1,031|11%|25%|822|10%|37%|600|7%|\n|Southeast Asia|412|4%|17%|351|4%|24%|283|4%|\n|Asia Pacific|6,786|70%|8%|6,312|75%|21%|5,225|65%|\n|United States|2,200|23%|55%|1,419|17%|-29%|1,995|25%|\n|Europe|662|7%|-10%|735|8%|-10%|817|10%|\n|Total|$9,648|100%|14%|$8,466|100%|5%|$8,037|100%|\n", + "The changes in new orders from customers in the United States, Japan, Taiwan and Korea for fiscal 2014 compared to fiscal 2013 primarily reflected changes in customers mix in the Silicon Systems Group, while the increase in new orders from China resulted from increased demand from display manufacturing equipment.", + "The recovery in demand for display manufacturing equipment in fiscal 2013 led to the increase in new orders from customers in China.", + "The change in the composition of new orders from customers in Taiwan, Korea, Japan and the United States was primarily related to changes in customer demand for semiconductor equipment.", + "New Term Loan A Facility, with the remaining unpaid principal amount of loans under the New Term Loan A Facility due and payable in full at maturity on June 6, 2021.", + "Principal amounts outstanding under the New Revolving Loan Facility are due and payable in full at maturity on June 6, 2021, subject to earlier repayment pursuant to the springing maturity date described above.", + "In addition to paying interest on outstanding principal under the borrowings, we are obligated to pay a quarterly commitment fee at a rate determined by reference to a total leverage ratio, with a maximum commitment fee of 40% of the applicable margin for Eurocurrency loans.", + "In July 2016, Breakaway Four, Ltd. , as borrower, and NCLC, as guarantor, entered into a Supplemental Agreement, which amended the Breakaway four loan to, among other things, increase the aggregate principal amount of commitments under the multi-draw term loan credit facility from \u20ac590.5 million to \u20ac729.9 million.", + "In June 2016, we took delivery of Seven Seas Explorer.", + "To finance the payment due upon delivery, we had export credit financing in place for 80% of the contract price.", + "The associated $373.6 million term loan bears interest at 3.43% with a maturity date of June 30, 2028.", + "Principal and interest payments shall be paid semiannually.", + "In December 2016, NCLC issued $700.0 million aggregate principal amount of 4.750% senior unsecured notes due December 2021 (the \u00a1\u00b0Notes\u00a1\u00b1) in a private offering (the \u00a1\u00b0Offering\u00a1\u00b1) at par.", + "NCLC used the net proceeds from the Offering, after deducting the initial purchasers\u00a1\u00af discount and estimated fees and expenses, together with cash on hand, to purchase its outstanding 5.25% senior notes due 2019 having an aggregate outstanding principal amount of $680 million.", + "The redemption of the 5.25% senior notes due 2019 was completed in January 2017.", + "NCLC will pay interest on the Notes at 4.750% per annum, semiannually on June 15 and December 15 of each year, commencing on June 15, 2017, to holders of record at the close of business on the immediately preceding June 1 and December 1, respectively.", + "NCLC may redeem the Notes, in whole or part, at any time prior to December 15, 2018, at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date and a \u00a1\u00b0make-whole premium.", + "\u00a1\u00b1 NCLC may redeem the Notes, in whole or in part, on or after December 15, 2018, at the redemption prices set forth in the indenture governing the Notes.", + "At any time (which may be more than once) on or prior to December 15, 2018, NCLC may choose to redeem up to 40% of the aggregate principal amount of the Notes at a redemption price equal to 104.750% of the face amount thereof with an amount equal to the net proceeds of one or more equity offerings, so long as at least 60% of the aggregate principal amount of the Notes issued remains outstanding following such redemption.", + "The indenture governing the Notes contains covenants that limit NCLC\u00a1\u00afs ability (and its restricted subsidiaries\u00a1\u00af ability) to, among other things: (i) incur or guarantee additional indebtedness or issue certain preferred shares; (ii) pay dividends and make certain other restricted payments; (iii) create restrictions on the payment of dividends or other distributions to NCLC from its restricted subsidiaries; (iv) create liens on certain assets to secure debt; (v) make certain investments; (vi) engage in transactions with affiliates; (vii) engage in sales of assets and subsidiary stock; and (viii) transfer all or substantially all of its assets or enter into merger or consolidation transactions.", + "The indenture governing the Notes also provides for events of default, which, if any of them occurs, would permit or require the principal, premium (if any), interest and other monetary obligations on all of the then-outstanding Notes to become due and payable immediately.", + "Interest expense, net for the year ended December 31, 2016 was $276.9 million which included $34.7 million of amortization of deferred financing fees and a $27.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2015 was $221.9 million which included $36.7 million of amortization of deferred financing fees and a $12.7 million loss on extinguishment of debt.", + "Interest expense, net for the year ended December 31, 2014 was $151.8 million which included $32.3 million of amortization of deferred financing fees and $15.4 million of expenses related to financing transactions in connection with the Acquisition of Prestige.", + "Certain of our debt agreements contain covenants that, among other things, require us to maintain a minimum level of liquidity, as well as limit our net funded debt-to-capital ratio, maintain certain other ratios and restrict our ability to pay dividends.", + "Substantially all of our ships and other property and equipment are pledged as collateral for certain of our debt.", + "We believe we were in compliance with these covenants as of December 31, 2016.", + "The following are scheduled principal repayments on long-term debt including capital lease obligations as of December 31, 2016 for each of the next five years (in thousands):" + ], + "question_id": "simplong-test-156", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Accumulated benefit obligation CHANGE IN PLAN ASSETS of CECONY 2013, and Operating earnings of 2008 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "(a) Relates to an increase in CECONY\u2019s pension obligation of $45 million from a 1999 special retirement program.", + "Funded Status The funded status at December 31, 2015, 2014 and 2013 was as follows:", + "||Con Edison|CECONY|\n|(Millions of Dollars)|2015|2014|2013|2015|2014|2013|\n|CHANGE IN PROJECTED BENEFIT OBLIGATION|||||||\n|Projected benefit obligation at beginning of year|$15,081|$12,197|$13,406|$14,137|$11,429|$12,572|\n|Service cost \u2013 excluding administrative expenses|293|221|259|274|206|241|\n|Interest cost on projected benefit obligation|575|572|537|538|536|503|\n|Net actuarial (gain)/loss|-996|2,641|-1,469|-931|2,484|-1,388|\n|Plan amendments|\u2014|6|\u2014|\u2014|\u2014|\u2014|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|PROJECTED BENEFIT OBLIGATION AT END OF YEAR|$14,377|$15,081|$12,197|$13,482|$14,137|$11,429|\n|CHANGE IN PLAN ASSETS|||||||\n|Fair value of plan assets at beginning of year|$11,495|$10,755|$9,135|$10,897|$10,197|$8,668|\n|Actual return on plan assets|126|752|1,310|118|715|1,241|\n|Employer contributions|750|578|879|697|535|819|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|Administrative expenses|-36|-34|-33|-35|-32|-32|\n|FAIR VALUE OF PLAN ASSETS AT END OF YEAR|$11,759|$11,495|$10,755|$11,141|$10,897|$10,197|\n|FUNDED STATUS|$-2,618|$-3,586|$-1,442|$-2,341|$-3,240|$-1,232|\n|Unrecognized net loss|$3,909|$4,888|$2,759|$3,704|$4,616|$2,617|\n|Unrecognized prior service costs|16|20|17|3|4|6|\n|Accumulated benefit obligation|12,909|13,454|11,004|12,055|12,553|10,268|\n", + "The decrease in the pension plan\u2019s projected benefit obligation (due primarily to increased discount rates) was the primary cause of the decreased pension liability at Con Edison and CECONY of $968 million and $899 million, respectively, compared with December 31, 2014.", + "For Con Edison, this decrease in pension liability corresponds with a decrease to regulatory assets of $967 million for unrecognized net losses and unrecognized prior service costs associated with the Utilities consistent with the accounting rules for regulated operations, a credit to OCI of $10 million (net of taxes) for the unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses and O&R\u2019s New Jersey and Pennsylvania utility subsidiaries.", + "For CECONY, the decrease in pension liability corresponds with a decrease to regulatory assets of $911 million for unrecognized net losses and unrecognized prior service costs consistent with the accounting rules for regulated operations, a credit to OCI of $1 million (net of taxes) for unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses.", + "A portion of the unrecognized net loss and prior service cost for the pension plan, equal to $603 million and $4 million, respectively, will be recognized from accumulated OCI and the regulatory asset into net periodic benefit cost over the next year for Con Edison.", + "Included in these amounts are $570 million and $2 million, respectively, for CECONY.", + "At December 31, 2015 and 2014, Con Edison\u2019s investments include $243 million and $225 million, respectively, held in external trust accounts for benefit payments pursuant to the supplemental retirement plans.", + "Included in these amounts for CECONY were $221 million and $208 million, respectively.", + "See Note P. The accumulated benefit obligations for the supplemental retirement plans for Con Edison and CECONY were $285 million and $249 million as of December 31, 2015 and $289 million and $250 million as of December 31, 2014, respectively", + "Contract options in our defense businesses represent agreements to perform additional work beyond the products and services associated with firm contracts, if the customer exercises the option.", + "These options are negotiated in conjunction with a firm contract and provide the terms under which the customer may elect to procure additional units or serv\u0002ices at a future date.", + "Contract options in the Aerospace group represent options to purchase new aircraft and long-term agreements with fleet customers.", + "We recognize options in backlog when the customer exercises the option and establishes a firm order.", + "On December 31, 2009, the estimated potential value associated with these IDIQ contracts and contract options was approximately $17.6 billion, up from $16.8 billion at the end of 2008.", + "This represents our estimate of the potential value we will receive.", + "The actual amount of funding received in the future may be higher or lower.", + "We expect to realize this value over the next 10 to 15 years.", + "REVIEW OF OPERATING SEGMENTS AEROSPACE Review of 2009 vs. 2008", + "| Year Ended December 31|2009|2008|Variance|\n|Revenues|$5,171|$5,512|$-341|-6.2%|\n|Operating earnings|707|1,021|-314|-30.8%|\n|Operating margin|13.7%|18.5%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|94|156|-62|-39.7%|\n|Completion|110|152|-42|-27.6%|\n", + "The Aerospace group\u2019s revenues decreased in 2009, the net result of a 24 percent decline in Gulfstream revenues that was offset in part by revenues from Jet Aviation, which we acquired in the fourth quarter of 2008.", + "The combination of the global economic deterioration and credit crisis along with negative business-jet rhetoric had a significant impact on the business-jet market in 2009.", + "To adjust to the economic conditions and weakened demand, we reduced Gulfstream\u2019s 2009 aircraft production and delivery schedule, primarily in the group\u2019s mid\u0002size models, to bridge the market downturn.", + "This included a five-week furlough at the group\u2019s production center in Savannah, Georgia, in July and August.", + "As a result, aircraft-manufacturing revenues decreased 28 percent in 2009 compared with 2008.", + "The economic environment also impacted the group\u2019s aircraft services business.", + "Organic aircraft\u0002services revenues were down 15 percent in 2009 resulting from reduced flying hours and customer deferral of aircraft maintenance.", + "The decline in aircraft manufacturing and services revenues was slightly offset by higher pre-owned aircraft revenues in 2009.", + "The group sold six pre-owned aircraft for $124 in 2009 compared with two sales for $18 in 2008.", + "The group\u2019s operating earnings declined in 2009 compared with 2008 due primarily to the factors noted above.", + "The components of the reduction in earnings were as follows:", + "|Aircraft manufacturing and completions|$-220|\n|Pre-owned aircraft|-18|\n|Aircraft services|1|\n|Other|-77|\n|Total decrease in operating earnings|$-314|\n", + "The net decrease in the group\u2019s aircraft manufacturing and comple\u0002tions earnings in 2009 resulted from the reduction in Gulfstream aircraft deliveries offset in part by the addition of Jet Aviation\u2019s aircraft comple\u0002tions and refurbishing business.", + "The earnings decline associated with the decreased Gulfstream volume was mitigated by cost-reduction initiatives, a shift in the mix of aircraft deliveries toward large-cabin aircraft, and liq\u0002uidated damages collected on defaulted aircraft contracts.", + "As a result, aircraft manufacturing margins increased in 2009 over 2008 despite the decline in volume during the year.", + "The group continues to focus on reduc\u0002ing costs through production improvements and operational efficiencies to maintain aircraft-manufacturing margins.", + "In late 2008 and early 2009, the supply in the global pre-owned air\u0002craft market increased significantly, putting considerable pressure on pricing.", + "As a result, the group wrote down the carrying value of its pre\u0002owned aircraft inventory in 2009.", + "Pricing in the pre-owned market appears to have stabilized in the second half of 2009, particularly for large-cabin aircraft.", + "The group continues to work to minimize its pre\u0002owned aircraft exposure, with four pre-owned aircraft valued at $60 remaining in inventory at the end of 2009.", + "Aircraft services earnings were steady in 2009 compared with 2008 as the addition of Jet Aviation\u2019s maintenance and repair activities, fixed\u0002base operations and aircraft management services offset a decrease in organic aircraft services earnings.", + "A significant reduction in flight hours in the business-jet market put competitive pressure on aircraft mainte\u0002nance and repair earnings in 2009.", + "The group\u2019s operating earnings also were impacted negatively in 2009 by severance costs associated with workforce reduction activities and intangible asset amortization related to the Jet Aviation acquisition.", + "The factors discussed above and the addition of lower-margin Jet Aviation business caused the group\u2019s overall operating margins to decrease 480 basis points in 2009 compared with 2008.", + "Overview Vornado Realty Trust (\u201cVornado\u201d) is a fully-integrated real estate investment trust (\u201cREIT\u201d) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L. P. , a Delaware limited partnership (the \u201cOperating Partnership\u201d).", + "Accordingly, Vornado\u2019s cash flow and ability to pay dividends to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors.", + "Vornado is the sole general partner of, and owned approximately 93.5% of the common limited partnership interest in the Operating Partnership at December 31, 2011.", + "All references to \u201cwe,\u201d \u201cus,\u201d \u201cour,\u201d the \u201cCompany\u201d and \u201cVornado\u201d refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.", + "We own and operate office, retail and showroom properties (our \u201ccore\u201d operations) with large concentrations of office and retail properties in the New York City metropolitan area and in the Washington, DC / Northern Virginia area.", + "In addition, we have a 32.7% interest in Toys \u201cR\u201d Us, Inc. (\u201cToys\u201d) which has a significant real estate component, a 32.4% interest in Alexander\u2019s, Inc. (NYSE: ALX) (\u201cAlexander\u2019s\u201d), which has seven properties in the greater New York metropolitan area, as well as interests in other real estate and related investments.", + "Our business objective is to maximize shareholder value, which we measure by the total return provided to our shareholders.", + "Below is a table comparing our performance to the Morgan Stanley REIT Index (\u201cRMS\u201d) and the SNL REIT Index (\u201cSNL\u201d) for the following periods ended December 31, 2011:", + "| | Total Return-1|\n| | Vornado| RMS| SNL|\n|One-year|-4.6%|8.7%|8.3%|\n|Three-year|40.2%|79.6%|79.9%|\n|Five-year|-25.2%|-7.3%|-3.9%|\n|Ten-year|187.0%|163.2%|175.4%|\n|||||\n||||\n", + "We intend to achieve our business objective by continuing to pursue our investment philosophy and executing our operating strategies through: ?", + "Maintaining a superior team of operating and investment professionals and an entrepreneurial spirit; ?", + "Investing in properties in select markets, such as New York City and Washington, DC, where we believe there is a high likelihood of capital appreciation; ?", + "Acquiring quality properties at a discount to replacement cost and where there is a significant potential for higher rents; ?", + "Investing in retail properties in select under-stored locations such as the New York City metropolitan area; ?", + "Developing and redeveloping existing properties to increase returns and maximize value; and ?", + "Investing in operating companies that have a significant real estate component.", + "We expect to finance our growth, acquisitions and investments using internally generated funds, proceeds from possible asset sales and by accessing the public and private capital markets.", + "We may also offer Vornado common or preferred shares or Operating Partnership units in exchange for property and may repurchase or otherwise reacquire these securities in the future.", + "We compete with a large number of real estate property owners and developers, some of which may be willing to accept lower returns on their investments than we are.", + "Principal factors of competition include rents charged, attractiveness of location, the quality of the property and the breadth and the quality of services provided.", + "Our success depends upon, among other factors, trends of the national, regional and local economies, the financial condition and operating results of current and prospective tenants and customers, availability and cost of capital, construction and renovation costs, taxes, governmental regulations, legislation and population trends.", + "See \u201cRisk Factors\u201d in Item 1A for additional information regarding these factors.", + "Costs under the Transformational Cost Management Program, which were primarily recorded in selling, general and administrative expenses and included in the fiscal year ended August 31, 2019 were as follows (in millions):" + ], + "question_id": "simplong-test-157", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Case reserves in the years in gross where Case reserves is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table illustrates the effect that a 10% unfavorable or favorable movement in foreign currency exchange rates, relative to the U. S. dollar, would have on the fair value of our forward exchange contracts as of October 30, 2010 and October 31, 2009:", + "||October 30, 2010|October 31, 2009|\n|Fair value of forward exchange contracts asset|$7,256|$8,367|\n|Fair value of forward exchange contracts after a 10% unfavorable movement in foreign currency exchange rates asset|$22,062|$20,132|\n|Fair value of forward exchange contracts after a 10% favorable movement in foreign currency exchange rates liability|$-7,396|$-6,781|\n", + "The calculation assumes that each exchange rate would change in the same direction relative to the U. S. dollar.", + "In addition to the direct effects of changes in exchange rates, such changes typically affect the volume of sales or the foreign currency sales price as competitors\u2019 products become more or less attractive.", + "Our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices.", + "NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) ACE Limited and Subsidiaries Under Swiss corporate law, the Company may not generally issue Common Shares below their par value.", + "In the event there is a need to raise common equity at a time when the trading price of the Company\u2019s Common Shares is below par value, the Company will need to obtain shareholder approval to decrease the par value of the Common Shares.", + "b) Shares issued, outstanding, authorized, and conditional Following is a table of changes in Common Shares issued and outstanding for the years ended December 31, 2009, 2008, and 2007:", + "||2009|2008|2007|\n|Shares issued, beginning of year|335,413,501|329,704,531|326,455,468|\n|Shares issued, net|2,000,000|3,140,194|1,213,663|\n|Exercise of stock options|168,720|2,365,401|1,830,004|\n|Shares issued under Employee Stock Purchase Plan|259,395|203,375|205,396|\n|Shares issued, end of year|337,841,616|335,413,501|329,704,531|\n|Common Shares in treasury, end of year|-1,316,959|-1,768,030|\u2013|\n|Shares issued and outstanding, end of year|336,524,657|333,645,471|329,704,531|\n| Common Shares issued to employee trust||||\n|Balance, beginning of year|-108,981|-117,231|-166,425|\n|Shares redeemed|7,500|8,250|49,194|\n|Balance, end of year|-101,481|-108,981|-117,231|\n", + "In July 2008, prior to the Continuation, the Company issued and placed 2,000,000 Common Shares in treasury principally for issuance upon the exercise of employee stock options.", + "At December 31, 2009, 1,316,959 Common Shares remain in treasury after net shares redeemed under employee share-based compensation plans.", + "Common Shares issued to employee trust are the shares issued by the Company to a rabbi trust for deferred compensa\u0002tion obligations as discussed in Note 12 f) below.", + "Shares authorized The Board is currently authorized to increase the share capital from time to time through the issuance of up to 99,750,000 fully paid up Common Shares with a par value of CHF 31.88 each.", + "Conditional share capital for bonds and similar debt instruments The share capital of the Company may be increased through the issuance of a maximum of 33,000,000 Common Shares with a par value of CHF 31.88 each, payable in full, through the exercise of conversion and/or option or warrant rights granted in connection with bonds, notes, or similar instruments, issued or to be issued by the Company, including convertible debt instruments.", + "Conditional share capital for employee benefit plans The share capital of the Company may be increased through the issuance of a maximum of 30,401,725 Common Shares with a par value of CHF 31.88 each, payable in full, in connection with the exercise of option rights granted to any employee of the Company, and any consultant, director, or other person providing services to the Company.", + "c) ACE Limited securities repurchase authorization In November 2001, the Board authorized the repurchase of any ACE issued debt or capital securities, which includes ACE\u2019s Common Shares, up to an aggregate total of $250 million.", + "These purchases may take place from time to time in the open market or in private purchase transactions.", + "At December 31, 2009, this authorization had not been utilized.", + "d) General restrictions The holders of the Common Shares are entitled to receive dividends as proposed by the Board and approved by the share\u0002holders.", + "Holders of Common Shares are allowed one vote per share provided that, if the controlled shares of any shareholder constitute ten percent or more of the outstanding Common Shares of the Company, only a fraction of the vote will be allowed", + "The process of establishing loss reserves for property and casualty claims can be complex and is subject to considerable uncertainty as it requires the use of informed estimates and judgments based on circumstances known at the date of accrual.", + "The following table shows our total reserves segregated between case reserves (including loss expense reserves) and IBNR reserves at December 31, 2009 and 2008.", + "|| 2009|2008|\n|(in millions of U.S. dollars)| Gross| Ceded| Net|Gross|Ceded|Net|\n|Case reserves|$17,307|$6,664|$10,643|$16,583|$6,539|$10,044|\n|IBNR reserves|20,476|6,081|14,395|20,593|6,396|14,197|\n|Total|$37,783|$12,745|$25,038|$37,176|$12,935|$24,241|\n", + "The following table segregates loss reserves by line of business including property and all other, casualty, and personal acci\u0002dent (A&H) at December 31, 2009 and 2008.", + "In the table, loss expenses are defined to include unallocated and allocated loss adjustment expenses.", + "For certain lines, in particular ACE International and ACE Bermuda products, loss adjustment expenses are partially included in IBNR and partially included in loss expenses.", + "|| 2009|2008|\n|(in millions of U.S. dollars)| Gross| Ceded| Net|Gross|Ceded|Net|\n|Property and all other|||||||\n|Case reserves|$3,149|$1,600|$1,549|$3,180|$1,367|$1,813|\n|Loss expenses|260|81|179|264|92|172|\n|IBNR reserves|2,028|815|1,213|2,456|1,084|1,372|\n|Subtotal|5,437|2,496|2,941|5,900|2,543|3,357|\n|Casualty|||||||\n|Case reserves|9,506|3,177|6,329|8,700|3,178|5,522|\n|Loss expenses|3,773|1,661|2,112|3,871|1,779|2,092|\n|IBNR reserves|17,777|5,110|12,667|17,455|5,144|12,311|\n|Subtotal|31,056|9,948|21,108|30,026|10,101|19,925|\n|A&H|||||||\n|Case reserves|588|144|444|536|121|415|\n|Loss expenses|31|1|30|32|2|30|\n|IBNR reserves|671|156|515|682|168|514|\n|Subtotal|1,290|301|989|1,250|291|959|\n|Total|||||||\n|Case reserves|13,243|4,921|8,322|12,416|4,666|7,750|\n|Loss expenses|4,064|1,743|2,321|4,167|1,873|2,294|\n|IBNR reserves|20,476|6,081|14,395|20,593|6,396|14,197|\n|Total|$37,783|$12,745|$25,038|$37,176|$12,935|$24,241|\n", + "The judgments used to estimate unpaid loss and loss expense reserves require different considerations depending upon the individual circumstances underlying the insured loss.", + "For example, the reserves established for high excess casualty claims, A&E claims, claims from major catastrophic events, or the IBNR for our various product lines each require different assump\u0002tions and judgments to be made.", + "Necessary judgments are based on numerous factors and may be revised as additional experience and other data become available and are reviewed, as new or improved methods are developed, or as laws change.", + "Hence, ultimate loss payments may differ from the estimate of the ultimate liabilities made at the balance sheet date.", + "Changes to our previous estimates of prior period loss reserves impact the reported calendar year underwriting results by worsening our reported results if the prior year reserves prove to be deficient or improving our reported results if the prior year reserves prove to be redundant.", + "The potential for variation in loss reserves is impacted by numerous factors, which we discuss below.", + "We establish loss and loss expense reserves for our liabilities from claims for all of the insurance and reinsurance busi\u0002ness that we write.", + "For those claims reported by insureds or ceding companies to us prior to the balance sheet date, and" + ], + "question_id": "simplong-test-158", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Revenues, net of interest expense sum up, excluding those negative ones in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "year was mainly due to a $7.1 billion increase in fixed income markets, reflecting strong trading opportunities across all asset classes in the first half of 2009, and a $1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels.", + "These increases were offset by a $6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges.", + "Excluding the 2009 and 2008 CVA impact, as indicated in the table below, revenues increased 23% or $5.5 billion.", + "Operating expenses decreased 17%, or $2.7 billion.", + "Excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release, operating expenses declined 11% or $1.6 billion, mainly as a result of headcount reductions and benefits from expense management.", + "Provisions for loan losses and for benefits and claims decreased 7% or $129 million, to $1.7 billion, mainly due to lower credit reserve builds and net credit losses, due to an improved credit environment, particularly in the latter part of the year.2008 vs. 2007 Revenues, net of interest expense decreased 2% or $0.4 billion reflecting the overall difficult market conditions.", + "Excluding the 2008 and 2007 CVA impact, revenues decreased 3% or $0.6 billion.", + "The reduction in revenue was primarily due to a decrease in investment banking revenue of $2.3 billion to $3.2 billion, mainly in debt and equity underwriting, reflecting lower volumes, and a decrease in equity markets revenue of $2.3 billion to $2.9 billion due to extremely high volatility and reduced levels of activity.", + "These reductions were offset by an increase in fixed income markets of $2.9 billion to $14.4 billion due to strong performance in interest rates and currencies, and an increase in lending revenue of $2.4 billion to $4.2 billion mainly from gains on credit default swap hedges.", + "Operating expenses decreased by 2% or $0.4 billion.", + "Excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal, operating expenses decreased by 7% or $1.1 billion driven by headcount reduction and lower performance-based incentives.", + "Provisions for credit losses and for benefits and claims increased $1.3 billion to $1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment.", + "Certain Revenues Impacting Securities and Banking Items that impacted S&B revenues during 2009 and 2008 are set forth in the table below.", + "||Pretax revenue|\n|In millions of dollars|2009|2008|\n|Private equity and equity investments|$201|$-377|\n|Alt-A mortgages-1-2|321|-737|\n|Commercial real estate (CRE) positions(1)(3)|68|270|\n|CVA on Citi debt liabilities under fair value option|-3,974|4,325|\n|CVA on derivatives positions, excluding monoline insurers|2,204|-3,292|\n|Total significant revenue items|$-1,180|$189|\n", + "(1) Net of hedges.", + "(2) For these purposes, Alt-A mortgage securities are non-agency residential mortgage-backed securities (RMBS) where (i) the underlying collateral has weighted average FICO scores between 680 and 720 or (ii) for instances where FICO scores are greater than 720, RMBS have 30% or less of the underlying collateral composed of full documentation loans.", + "See \u201cManaging Global Risk\u2014Credit Risk\u2014U.", + "S. Consumer Mortgage Lending.", + "\u201d (3) S&B\u2019s commercial real estate exposure is split into three categories of assets: held at fair value; held\u0002to-maturity/held-for-investment; and equity.", + "See \u201cManaging Global Risk\u2014Credit Risk\u2014Exposure to Commercial Real Estate\u201d section for a further discussion.", + "In the table above, 2009 includes a $330 million pretax adjustment to the CVA balance, which reduced pretax revenues for the year, reflecting a correction of an error related to prior periods.", + "See \u201cSignificant Accounting Policies and Significant Estimates\u201d below and Notes 1 and 34 to the Consolidated Financial Statements for a further discussion of this adjustment.2010 Outlook The 2010 outlook for S&B will depend on the level of client activity and on macroeconomic conditions, market valuations and volatility, interest rates and other market factors.", + "Management of S&B currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity.", + "Operating expenses will benefit from continued re-engineering and expense management initiatives, but will be offset by investments in talent and infrastructure to support growth.", + "33.", + "SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)", + "||2010|2009-1|\n|In millions of dollars, except per share amounts|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Revenues, net of interest expense|$18,371|$20,738|$22,071|$25,421|$5,405|$20,390|$29,969|$24,521|\n|Operating expenses|12,471|11,520|11,866|11,518|12,314|11,824|11,999|11,685|\n|Provisions for credit losses and for benefits and claims|4,840|5,919|6,665|8,618|8,184|9,095|12,676|10,307|\n|Income (loss) from continuing operations before income taxes|$1,060|$3,299|$3,540|$5,285|$-15,093|$-529|$5,294|$2,529|\n|Income taxes (benefits)|-313|698|812|1,036|-7,353|-1,122|907|835|\n|Income (loss) from continuing operations|$1,373|$2,601|$2,728|$4,249|$-7,740|$593|$4,387|$1,694|\n|Income (loss) from discontinued operations, net of taxes|98|-374|-3|211|232|-418|-142|-117|\n|Net income (loss) before attribution ofnoncontrolling interests|$1,471|$2,227|$2,725|$4,460|$-7,508|$175|$4,245|$1,577|\n|Net income (loss) attributable to noncontrolling interests|$162|$59|$28|$32|$71|$74|$-34|$-16|\n|Citigroup\u2019s net income (loss)|$1,309|$2,168|$2,697|$4,428|$-7,579|$101|$4,279|$1,593|\n|Earnings per share-2(3)|||||||||\n|Basic|||||||||\n|Income (loss) from continuing operations|$0.04|$0.09|$0.09|$0.15|$-0.34|$-0.23|$0.51|$-0.16|\n|Net income (loss)|0.04|0.07|0.09|0.15|-0.33|-0.27|0.49|-0.18|\n|Diluted|||||||||\n|Income (loss) from continuing operations|0.04|0.08|0.09|0.14|-0.34|-0.23|0.51|-0.16|\n|Net income (loss)|0.04|0.07|0.09|0.15|-0.33|-0.27|0.49|-0.18|\n|Common stock price per share|||||||||\n|High|$4.81|$4.30|$4.97|$4.31|$5.00|$5.23|$4.02|$7.46|\n|Low|3.95|3.66|3.63|3.15|3.20|2.59|2.68|1.02|\n|Close|4.73|3.91|3.76|4.05|3.31|4.84|2.97|2.53|\n|Dividends per share of common stock|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|0.01|\n", + "This Note to the Consolidated Financial Statements is unaudited due to the Company\u9225\u6a9a individual quarterly results not being subject to an audit The revenue and (after-tax impact) of the Company\u9225\u6a9a correction of a CVA error in prior periods, which reduced revenues and net income in the fourth quarter of 2009 by $840 million ($518 million), respectively, related to the quarters in 2009 as follows: $198 million ($122 million), $115 million ($71 million) and $197 million ($121 million) for the first, second and third quarters of 2009, respectively.", + "See also Note 1 to the Consolidated Financial Statements.", + "The impact of this CVA error was determined not to be material to the Company\u9225\u6a9a results of operations and financial position for any previously reported period.", + "Consequently, in the accompanying selected quarterly financial data, the cumulative effect through September 30, 2009 is recorded in the fourth quarter of 2009.", + "Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year.", + "Diluted shares are equal to basic shares for the first, third and fourth quarter of 2009 due to the net loss available to common shareholders.", + "Adding additional shares to the denominator would result in anti-dilution.", + "[End of Consolidated Financial Statements and Notes to Consolidated Financial Statements]", + "Asset retirement obligations increased $87 million from year-end 2003 primarily due to revisions of previous estimates caused by the impact of a weakening U. S. dollar on foreign asset retirement obligations, as well as drilling activity during 2004.", + "Cash Flows Net cash provided from operating activities (for continuing operations) totaled $3.730 billion in 2004, compared with $2.665 billion in 2003 and $2.331 billion in 2002.", + "The increases mainly resulted from the effects of higher worldwide natural gas and liquid hydrocarbons prices and a higher refining and wholesale marketing margin.", + "Net cash provided from operating activities (for discontinued operations) totaled $83 million in 2003, compared with $69 million in 2002 related to our E&P operations in western Canada sold in 2003.", + "Capital expenditures for each of the last three years are summarized in the following table:", + "|(In millions) | 2004 |2003 |2002 |\n|E&P(a)||||\n|Domestic|$402|$344|$417|\n|International|542|629|403|\n|Total E&P|944|973|820|\n|RM&T|784|772|621|\n|IG|490|131|48|\n|Corporate|19|16|31|\n|Total|$2,237|$1,892|$1,520|\n", + "(a) Amounts exclude the acquisitions of KMOC in 2003 and the Equatorial Guinea interests in 2002.", + "Capital expenditures in 2004 totaled $2.237 billion compared with $1.892 billion and $1.520 billion in 2003 and 2002, excluding the acquisitions of KMOC in 2003 and Equatorial Guinea interests in 2002.", + "The $345 million increase in 2004 mainly resulted from increased spending in the IG segment associated with the LNG project in Equatorial Guinea.", + "The $372 million increase in 2003 mainly resulted from increased spending in the RM&T segment at the Catlettsburg refinery and on the Cardinal Products Pipeline and in the E&P segment in West Africa and Norway.", + "The increase in IG in 2003 was due to the purchase of a 30 percent interest in two LNG tankers which we previously leased and project development costs associated with the LNG project in Equatorial Guinea.", + "The decrease in corporate capital expenditures in 2003 was primarily due to the implementation of SAP financial and operations software in prior years.", + "Acquisitions included cash payments of $252 million in 2003 for the acquisition of KMOC and $1.160 billion in 2002 for the acquisition of the interests in Equatorial Guinea.", + "For further discussion of acquisitions, see Note 5 to the Consolidated Financial Statements.", + "Cash from disposal of assets was $76 million in 2004, compared with $1.256 billion including the disposal of discontinued operations, in 2003 and $146 million in 2002.", + "In 2004, proceeds were primarily from the sale of certain SSA stores and various domestic producing properties.", + "In 2003, proceeds were primarily from the disposition of our E&P properties in western Canada, the Yates field and gathering system, our interest in CLAM, various SSA stores, our interest in several pipeline companies and certain fields in the Big Horn Basin of Wyoming.", + "In 2002, proceeds were primarily from the disposition of various SSA stores and the sale of our San Juan Basin assets.", + "Net cash provided from financing activities totaled $527 million in 2004, compared with net cash used of $888 million in 2003 and net cash provided of $88 million in 2002.", + "The increase in 2004 was due to $1.004 billion in net proceeds from the March 31, 2004, issuance of 34,500,000 shares of common stock as well as the suspension of distributions to the minority shareholder of MAP.", + "This was partially offset by an increase in dividends paid to stockholders.", + "The decrease in 2003 was due to activity in 2002 primarily associated with financing the acquisitions of Equatorial Guinea interests of $1.160 billion.", + "This was partially offset by the $295 million repayment of preferred securities in 2002 that became redeemable or were converted to a right to receive cash upon the Separation.", + "In early January 2002, we paid $185 million to retire the 6.75% Convertible Quarterly Income Preferred Securities and $110 million to retire the 6.50% Cumulative Convertible Preferred Stock.", + "Management\u2019s discussion and analysis 120 JPMorgan Chase & Co. /2010 Annual Report WHOLESALE CREDIT PORTFOLIO As of December 31, 2010, wholesale exposure (IB, CB, TSS and AM) increased by $36.9 billion from December 31, 2009.", + "The overall increase was primarily driven by increases of $23.5 billion in loans and $16.8 billion of receivables from customers, partially offset by decreases in interests in purchase receivables and lending-related commitments of $2.5 billion and $1.1 billion, respectively.", + "The de\u0002crease in lending-related commitments and the increase in loans were primarily related to the January 1, 2010, adoption of the accounting guidance related to VIEs, which resulted in the elimination of a net $17.7 billion of lending-related commitments between the Firm and its administrated multi-seller conduits upon consolidation.", + "Assets of the consolidated conduits included $15.1 billion of wholesale loans at January 1, 2010.", + "Excluding the effect of the accounting guidance, lending-related commitments and loans would have increased by $16.6 billion and $8.4 billion, respectively, mainly related to in\u0002creased client activity.", + "The increase in loans also included the pur\u0002chase of a $3.5 billion loan portfolio in CB during the third quarter of 2010.", + "The increase of $16.8 billion in receivables from customers was due to increased client activity, predominantly in Prime Services.", + "|December 31,|Credit exposure|Nonperforming (f)|\n|(in millions)|2010|2009|2010|2009|\n|Loans retained|$222,510|$200,077|$5,510|$6,559|\n|Loans held-for-sale|3,147|2,734|341|234|\n|Loans at fair value|1,976|1,364|155|111|\n|Loans\u2013 reported|227,633|204,175|6,006|6,904|\n|Derivative receivables|80,481|80,210|34|529|\n|Receivables from customers(a)|32,541|15,745|\u2014|\u2014|\n|Interests in purchased receivables(b)|391|2,927|\u2014|\u2014|\n|Total wholesale credit-related assets|341,046|303,057|6,040|7,433|\n|Lending-related commitments(c)|346,079|347,155|1,005|1,577|\n|Total wholesale credit exposure|$687,125|$650,212|$7,045|$9,010|\n|Net credit derivative hedges notional(d)|$-23,108|$-48,376|$-55|$-139|\n|Liquid securities and other cash collateral held against derivatives(e)|-16,486|-15,519|NA|NA|\n", + "(a) Represents primarily margin loans to prime and retail brokerage customers, which are included in accrued interest and accounts receivable on the Consolidated Balance Sheets.", + "(b) Represents an ownership interest in cash flows of a pool of receivables transferred by a third-party seller into a bankruptcy-remote entity, generally a trust.", + "(c) The amounts in nonperforming represent unfunded commitments that are risk rated as nonaccrual.", + "(d) Represents the net notional amount of protection purchased and sold of single-name and portfolio credit derivatives used to manage both performing and nonperform\u0002ing credit exposures; these derivatives do not qualify for hedge accounting under U. S. GAAP.", + "For additional information, see Credit derivatives on pages 126\u2013128, and Note 6 on pages 191\u2013199 of this Annual Report.", + "(e) Represents other liquid securities collateral and other cash collateral held by the Firm.", + "(f) Excludes assets acquired in loan satisfactions.", + "The following table presents summaries of the maturity and ratings profiles of the wholesale portfolio as of December 31, 2010 and 2009.", + "The ratings scale is based on the Firm\u2019s internal risk ratings, which generally correspond to the ratings as defined by S&P and Moody\u2019s.", + "Also included in this table is the notional value of net credit derivative hedges; the counterparties to these hedges are predominantly investment grade banks and finance companies.", + "Management\u2019s discussion and analysis 136 JPMorgan Chase & Co. /2010 Annual Report As a result of these foreclosure process issues, the Firm has under\u0002taken remedial actions to ensure that it satisfies all procedural requirements relating to mortgage foreclosures.", + "These actions include: ?", + "A complete review of the foreclosure document execution poli\u0002cies and procedures; ?", + "The creation of model affidavits that will comply with all local law requirements and be used in every case; ?", + "Implementation of enhanced procedures designed to ensure that employees who execute affidavits personally verify their contents and that the affidavits are executed only in the physical presence of a licensed notary; ?", + "Extensive training for all personnel who will have responsibility for document execution going forward and certification of those personnel by outside counsel; ?", + "Implementation of a rigorous quality control double-check re\u0002view of affidavits completed by the Firm\u2019s employees; and ?", + "Review and verification of our revised procedures by outside experts.", + "As of January 2011, the Firm has resumed initiation of new foreclo\u0002sure proceedings in nearly all states in which it had previously suspended such proceedings.", + "The following table presents information as of December 31, 2010 and 2009, about the Firm\u2019s nonperforming consumer assets, ex\u0002cluding credit card.", + "Nonperforming assets(a)", + "|December 31, (in millions)| 2010|2009|\n| Nonaccrual loans(b)|||\n|Home equity\u2013 senior lien|$479|$477|\n|Home equity\u2013 junior lien|784|1,188|\n|Prime mortgage, including option ARMs|4,320|4,667|\n|Subprime mortgage|2,210|3,248|\n|Auto|141|177|\n|Business banking|832|826|\n|Student and other|67|74|\n| Total nonaccrual loans|8,833|10,657|\n| Assets acquired in loan satisfactions|||\n|Real estate owned|1,294|1,156|\n|Other|67|99|\n| Total assets acquired in loan satisfactions|1,361|1,255|\n| Total nonperforming assets|$10,194|$11,912|\n", + "(a) At December 31, 2010 and 2009, nonperforming assets excluded: (1) mortgage loans insured by U. S. government agencies of $10.5 billion and $9.0 billion, re\u0002spectively, that are 90 days past due and accruing at the guaranteed reimburse\u0002ment rate; (2) real estate owned insured by U. S. government agencies of $1.9 billion and $579 million, respectively; and (3) student loans that are 90 days past due and still accruing, which are insured by U. S. government agencies under the FFELP, of $625 million and $542 million, respectively.", + "These amounts are ex\u0002cluded as reimbursement of insured amounts is proceeding normally.", + "(b) Excludes PCI loans that were acquired as part of the Washington Mutual transac\u0002tion, which are accounted for on a pool basis.", + "Since each pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows, the past-due status of the pools, or that of individual loans within the pools, is not meaningful.", + "Because the Firm is recognizing interest income on each pool of loans, they are all considered to be performing.", + "Nonaccrual loans: Total consumer nonaccrual loans, excluding credit card, were $8.8 billion, compared with $10.7 billion at December 31, 2009.", + "Nonaccrual loans have stabilized, but re\u0002mained at elevated levels.", + "The increase in loan modification activi\u0002ties is expected to continue to result in elevated levels of nonaccrual loans in the residential real estate portfolios as a result of both redefault of modified loans as well as the Firm\u2019s policy that modified loans remain in nonaccrual status until repayment is reasonably assured and the borrower has made a minimum of six payments under the new terms.", + "Nonaccrual loans in the residential real estate portfolio totaled $7.8 billion at December 31, 2010, of which 71% were greater than 150 days past due; this compared with nonaccrual residential real estate loans of $9.6 billion at December 31, 2009, of which 64% were greater than 150 days past due.", + "Modified residential real estate loans of $1.3 billion and $920 million at December 31, 2010 and 2009, respectively, were classified as nonaccrual loans.", + "Of these modified residential real estate loans, $580 million and $256 million had yet to make six payments under their modified terms at December 31, 2010 and 2009, respectively, with the remaining nonaccrual modified loans having redefaulted.", + "In the aggregate, the unpaid principal balance of residential real estate loans greater than 150 days past due was charged down by approximately 46% and 36% to estimated collat\u0002eral value at December 31, 2010 and 2009, respectively.", + "Real estate owned (\u201cREO\u201d): As part of the residential real estate foreclosure process, loans are written down to the fair value of the underlying real estate asset, less costs to sell, at acquisition.", + "Typically, any further gains or losses on REO assets are recorded as part of other income.", + "In those instances where the Firm gains ownership and possession of individual properties at the comple\u0002tion of the foreclosure process, these REO assets are managed for prompt sale and disposition at the best possible economic value.", + "Operating expense, such as real estate taxes and maintenance, are charged to other expense.", + "REO assets, excluding those insured by U. S. government agencies, increased by $138 million from Decem\u0002ber 31, 2009 to $1.3 billion, primarily related to foreclosures of non-PCI loans.", + "It is anticipated that REO assets will continue to increase over the next several quarters, as loans moving through the foreclosure process are expected to increase.", + "Management\u2019s discussion and analysis 48 JPMorgan Chase & Co. /2016 Annual Report EXPLANATION AND RECONCILIATION OF THE FIRM\u2019S USE OF NON-GAAP FINANCIAL MEASURES AND KEY PERFORMANCE MEASURES Non-GAAP financial measures The Firm prepares its Consolidated Financial Statements using U. S. GAAP; these financial statements appear on pages 141\u2013145.", + "That presentation, which is referred to as \u201creported\u201d basis, provides the reader with an understanding of the Firm\u2019s results that can be tracked consistently from year to year and enables a comparison of the Firm\u2019s performance with other companies\u2019 U. S. GAAP financial statements.", + "In addition to analyzing the Firm\u2019s results on a reported basis, management reviews the Firm\u2019s results, including the overhead ratio, and the results of the lines of business, on a \u201cmanaged\u201d basis, which are non-GAAP financial measures.", + "The Firm\u2019s definition of managed basis starts with the reported U. S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis.", + "Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities.", + "These non-GAAP financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources.", + "The corresponding income tax impact related to tax-exempt items is recorded within income tax expense.", + "These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business.", + "Management also uses certain non-GAAP financial measures at the Firm and business-segment level, because these other non-GAAP financial measures provide information to investors about the underlying operational performance and trends of the Firm or of the particular business segment, as the case may be, and, therefore, facilitate a comparison of the Firm or the business segment with the performance of its relevant competitors.", + "For additional information on these non-GAAP measures, see Business Segment Results on pages 51\u201370.", + "Additionally, certain credit metrics and ratios disclosed by the Firm exclude PCI loans, and are therefore non-GAAP measures.", + "For additional information on these non-GAAP measures, see Credit Risk Management on pages 86\u2013107.", + "Non-GAAP financial measures used by the Firm may not be comparable to similarly named non-GAAP financial measures used by other companies.", + "The following summary table provides a reconciliation from the Firm\u2019s reported U. S. GAAP results to managed basis.", + "||2016|2015|2014|\n|Year endedDecember 31,(in millions, except ratios)|ReportedResults|Fully taxable-equivalent adjustments(a)|Managedbasis|ReportedResults|Fully taxable-equivalent adjustments(a)|Managedbasis|ReportedResults|Fully taxable-equivalent adjustments(a)|Managedbasis|\n|Other income|$3,795|$2,265|$6,060|$3,032|$1,980|$5,012|$3,013|$1,788|$4,801|\n|Total noninterest revenue|49,585|2,265|51,850|50,033|1,980|52,013|51,478|1,788|53,266|\n|Net interest income|46,083|1,209|47,292|43,510|1,110|44,620|43,634|985|44,619|\n|Total net revenue|95,668|3,474|99,142|93,543|3,090|96,633|95,112|2,773|97,885|\n|Pre-provision profit|39,897|3,474|43,371|34,529|3,090|37,619|33,838|2,773|36,611|\n|Income before income tax expense|34,536|3,474|38,010|30,702|3,090|33,792|30,699|2,773|33,472|\n|Income tax expense|9,803|3,474|13,277|6,260|3,090|9,350|8,954|2,773|11,727|\n|Overhead ratio|58%|NM|56%|63%|NM|61%|64%|NM|63%|\n", + "(a) Predominantly recognized in CIB and CB business segments and Corporate." + ], + "question_id": "simplong-test-159", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Interruptible sales in thousands of Dt Delivered, what's the increasing rate of Total firm sales and transportation? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HR Solutions", + "|Years ended December 31,|2010|2009|2008|\n|Revenue|$2,111|$1,267|$1,356|\n|Operating income|234|203|208|\n|Operating margin|11.1%|16.0%|15.3%|\n", + "In October 2010, we completed the acquisition of Hewitt, one of the world\u2019s leading human resource consulting and outsourcing companies.", + "Hewitt operates globally together with Aon\u2019s existing consulting and outsourcing operations under the newly created Aon Hewitt brand.", + "Hewitt\u2019s operating results are included in Aon\u2019s results of operations beginning October 1, 2010.", + "Our HR Solutions segment generated approximately 25% of our consolidated total revenues in 2010 and provides a broad range of human capital services, as follows: Consulting Services: ?", + "Health and Benefits advises clients about how to structure, fund, and administer employee benefit programs that attract, retain, and motivate employees.", + "Benefits consulting includes health and welfare, executive benefits, workforce strategies and productivity, absence management, benefits administration, data-driven health, compliance, employee commitment, investment advisory and elective benefits services. ?", + "Retirement specializes in global actuarial services, defined contribution consulting, investment consulting, tax and ERISA consulting, and pension administration. ?", + "Compensation focuses on compensatory advisory/counsel including: compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness, with special expertise in the financial services and technology industries. ?", + "Strategic Human Capital delivers advice to complex global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management.", + "Outsourcing Services: ?", + "Benefits Outsourcing applies our HR expertise primarily through defined benefit (pension), defined contribution (401(k)), and health and welfare administrative services.", + "Our model replaces the resource-intensive processes once required to administer benefit plans with more efficient, effective, and less costly solutions. ?", + "Human Resource Business Processing Outsourcing (\u2018\u2018HR BPO\u2019\u2019) provides market-leading solutions to manage employee data; administer benefits, payroll and other human resources processes; and record and manage talent, workforce and other core HR process transactions as well as other complementary services such as absence management, flexible spending, dependent audit and participant advocacy.", + "Beginning in late 2008, the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace.", + "Weak economic conditions globally continued throughout 2010.", + "The prolonged economic downturn is adversely impacting our clients\u2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate.", + "While we believe that the majority of our practices are well positioned to manage through this time, these challenges are reducing demand for some of our services and putting", + "has liability.", + "For a further discussion of claims and possible claims against O&R under Superfund, see Note G to the financial statements in Item 8.", + "Manufactured Gas Sites O&R and its predecessors formerly owned and operated manufactured gas plants at seven sites (O&R MGP Sites) in Orange County and Rockland County, New York.", + "Three of these sites are now owned by parties other than O&R, and have been redeveloped by them for residential, commercial or industrial uses.", + "The NYSDEC is requiring O&R to develop and implement remediation programs for the O&R MGP Sites including any neighboring areas to which contamination may have migrated.", + "O&R has completed remedial investigations at all seven of its MGP sites and has received the NYSDEC\u2019s decision regarding the remedial work to be performed at six of the sites.", + "Of the six sites, O&R has completed remediation at four sites.", + "Remedial construction was initiated on a portion of one of the remaining sites in 2018 and remedial design is ongoing for the other remaining sites.", + "The company estimates that its undiscounted potential liability for the completion of the site investigation and cleanup of the known contamination on MGP sites could range from $86 million to $142 million.", + "Superfund Sites O&R is a PRP at Superfund sites involving other PRPs, and participates in PRP groups at those sites.", + "The company is not managing the site investigation and remediation at these multiparty Superfund sites.", + "Work at these sites is in various stages, and investigation, remediation and monitoring activities at some of these sites is expected to continue over extended periods of time.", + "The company believes that it is unlikely that monetary sanctions, such as penalties, will be imposed by any governmental authority with respect to these sites.", + "The following table lists each of the Superfund sites for which the company anticipates it may have liability.", + "The table also shows for each such site its location, the year in which the company was designated or alleged to be a PRP or to otherwise have responsibilities for the site (shown in the table under \u201cStart\u201d), the name of the court or agency in which proceedings for the site are pending and O&R\u2019s estimated percentage of the total liability for each site.", + "The company currently estimates that its potential liability for investigation, remediation, monitoring and environmental damages in aggregate for the sites below is less than $1 million.", + "Superfund liability is joint and several.", + "The company\u2019s estimate of its liability for each site was determined pursuant to consent decrees, settlement agreements or otherwise and in light of the financial condition of other PRPs.", + "The company\u2019s actual liability could differ substantially from amounts estimated.", + "|Site|Location|Start|Court orAgency|% of TotalLiability|\n|Metal Bank of America|Philadelphia, PA|1993|EPA|4.6%|\n|Borne Chemical|Elizabeth, NJ|1997|NJDEP|2.3%|\n|Ellis Road|Jacksonville, FL|2011|EPA|0.2%|\n", + "Other Federal, State and Local Environmental Provisions Toxic Substances Control Act Virtually all electric utilities, including CECONY, own equipment containing PCBs.", + "PCBs are regulated under the Federal Toxic Substances Control Act of 1976.", + "The Utilities have procedures in place to manage and dispose of oil and equipment containing PCBs properly when they are removed from service.", + "Water Quality Under NYSDEC regulations, the operation of CECONY\u2019s generating facilities requires permits for water discharges and water withdrawals.", + "Conditions to the renewal of such permits may include limitations on the operations of the permitted facility or requirements to install certain equipment, the cost of which could be substantial.", + "For information about the company\u2019s generating facilities, see \u201cCECONY \u2013 Electric Operations \u2013 Electric Facilities\u201d and \u201cSteam Operations \u2013 Steam Facilities\u201d above in this Item 1.", + "Certain governmental authorities are investigating contamination in the Hudson River and the New York Harbor.", + "These waters run through portions of CECONY\u2019s service area.", + "Governmental authorities could require entities that released hazardous substances that contaminated these waters to bear the cost of investigation and remediation, which could be substantial.", + "Fuel expenses increased $23 million in 2017 compared with 2016 due to higher unit costs.", + "Other operations and maintenance expenses decreased $119 million in 2017 compared with 2016 due primarily to lower costs for pension and other postretirement benefits ($89 million) and other employee benefits related to a rabbi trust ($22 million).", + "Depreciation and amortization increased $60 million in 2017 compared with 2016 due primarily to higher electric utility plant balances.", + "Taxes, other than income taxes increased $78 million in 2017 compared with 2016 due primarily to higher property taxes ($97 million) and the absence in 2017 of a favorable state audit settlement in 2016 ($5 million), offset in part by deferral of under-collected property taxes due to new property tax rates for fiscal year 2017 \u2013 2018 ($21 million) and lower state and local taxes ($4 million).", + "Gas CECONY\u2019s results of gas operations for the year ended December 31, 2017 compared with the year ended December 31, 2016 is as follows", + "||For the Years Ended December 31,|\n|(Millions of Dollars)|2017|2016|Variation|\n|Operating revenues|$1,901|$1,508|$393|\n|Gas purchased for resale|510|319|191|\n|Other operations and maintenance|413|378|35|\n|Depreciation and amortization|185|159|26|\n|Taxes, other than income taxes|298|265|33|\n|Gas operating income|$495|$387|$108|\n", + "CECONY\u2019s gas sales and deliveries, excluding off-system sales, in 2017 compared with 2016 were", + "||Thousands of Dt Delivered|Revenues in Millions (a)|\n||For the Years Ended||For the Years Ended||\n|Description|December 31, 2017|December 31, 2016|Variation|Percent Variation|December 31, 2017|December 31, 2016|Variation|Percent Variation|\n|Residential|52,244|47,794|4,450|9.3%|$802|$667|$135|20.2%|\n|General|30,761|28,098|2,663|9.5|334|266|68|25.6|\n|Firm transportation|71,353|68,442|2,911|4.3|524|426|98|23.0|\n|Total firm sales and transportation|154,358|144,334|10,024|6.9(b)|1,660|1,359|301|22.1|\n|Interruptible sales (c)|7,553|8,957|-1,404|-15.7|35|34|1|2.9|\n|NYPA|37,033|43,101|-6,068|-14.1|2|2|\u2014|\u2014|\n|Generation plants|61,800|87,835|-26,035|-29.6|25|25|\u2014|\u2014|\n|Other|21,317|21,165|152|0.7|31|32|-1|-3.1|\n|Other operating revenues (d)|\u2014|\u2014|\u2014|\u2014|148|56|92|Large|\n|Total|282,061|305,392|-23,331|-7.6%|$1,901|$1,508|$393|26.1%|\n", + "(a) Revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism, as a result of which, delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "(b) After adjusting for variations, primarily billing days, firm gas sales and transportation volumes in the company\u2019s service area increased 5.9 percent in 2017 compared with 2016, reflecting primarily increased volumes attributable to the growth in the number of gas customers.", + "(c) Includes 3,816 thousands and 4,708 thousands of Dt for 2017 and 2016, respectively, which are also reflected in firm transportation and other.", + "(d) Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company\u2019s rate plans.", + "See Note B to the financial statements in Item 8.", + "Operating revenues increased $393 million in 2017 compared with 2016 due primarily to increased gas purchased for resale expense ($191 million) and higher revenues from the gas rate plan and growth in the number of customers ($182 million).", + "Gas purchased for resale increased $191 million in 2017 compared with 2016 due to higher unit costs ($176 million) and purchased volumes ($15 million)." + ], + "question_id": "simplong-test-160", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "considering the class a common stocks , what is the percentage's increase of the number issued to participating employees in relation non-executive directors amidst 2016 and 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "In 2017, the company granted 440,076 shares of restricted Class A common stock and 7,568 shares of restricted stock units.", + "Restricted common stock and restricted stock units generally have a vesting period of two to four years.", + "The fair value related to these grants was $58.7 million, which is recognized as compensation expense on an accelerated basis over the vesting period.", + "Dividends are accrued on restricted Class A common stock and restricted stock units and are paid once the restricted stock vests.", + "In 2017, the company also granted 203,298 performance shares.", + "The fair value related to these grants was $25.3 million, which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period.", + "The vesting of these shares is contingent on meeting stated performance or market conditions.", + "The following table summarizes restricted stock, restricted stock units, and performance shares activity for 2017:", + "||Number of Shares|WeightedAverageGrant DateFair Value|\n|Outstanding at December 31, 2016|1,820,578|$98|\n|Granted|650,942|129|\n|Vested|-510,590|87|\n|Cancelled|-401,699|95|\n|Outstanding at December 31, 2017|1,559,231|116|\n", + "The total fair value of restricted stock, restricted stock units, and performance shares that vested during 2017, 2016 and 2015 was $66.0 million, $59.8 million and $43.3 million, respectively.", + "Under the ESPP, eligible employees may acquire shares of Class A common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration.", + "Shares are purchased at the end of each offering period at a price of 90% of the closing price of the Class A common stock as reported on the NASDAQ Global Select Market.", + "Compensation expense is recognized on the dates of purchase for the discount from the closing price.", + "In 2017, 2016 and 2015, a total of 19,936, 19,858 and 19,756 shares, respectively, of Class A common stock were issued to participating employees.", + "These shares are subject to a six-month holding period.", + "Annual expense of $0.3 million for the purchase discount was recognized in 2017, and $0.2 million was recognized in both 2016 and 2015.", + "Non-executive directors receive an annual award of Class A common stock with a value equal to $100,000.", + "Non-executive directors may also elect to receive some or all of the cash portion of their annual stipend, up to $60,000, in shares of stock based on the closing price at the date of distribution.", + "As a result, 19,736 shares, 26,439 shares and 25,853 shares of Class A common stock were issued to non-executive directors during 2017, 2016 and 2015, respectively.", + "These shares are not subject to any vesting restrictions.", + "Expense of $2.5 million, $2.4 million and $2.5 million related to these stock-based payments was recognized for the years ended December 31, 2017, 2016 and 2015, respectively.", + "Income Taxes The Company utilizes the asset and liability approach defined in SFAS No.109, \u201cAccounting for Income Taxes\u201d, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement amounts and the tax bases of assets and liabilities.", + "Earnings per Share (\u201cEPS\u201d) Basic EPS is calculated by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding.", + "Diluted EPS is similar to basic EPS, but adjusts for the effect of the potential issuance of common shares by application of the treasury stock method.", + "Reclassifications Certain revisions and reclassifications have been made to the consolidated financial statements of the prior years to conform to the current year presentation.", + "As a result, Financial Service Fees revenue and Investment Advisory Fees expense increased by approximately $12.8 million and $11.2 million, respectively, for the years ended September 30, 2006 and 2005.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "The Company also reclassified certain amounts from cash to segregated assets and reverse repurchase agreements on its 2006 and 2005 Consolidated Statements of Financial Condition and related cash flow activity on its 2006 and 2005 Consolidated Statements of Cash Flows.", + "For fiscal year 2006, $176.8 million was reclassified from cash to segregated assets and $72.5 million was reclassified from cash to securities purchased under agreements to resell.", + "For fiscal year 2005, $146.4 million was reclassified from cash to segregated assets and $137.3 million was reclassified from cash to securities purchased under agreements to resell.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "In the quarter ended September 30, 2007, a new segment was established: Proprietary Capital.", + "The components of this segment were previously included in the Asset Management and Other segments.", + "Reclassifications have been made in the segment disclosure for previous years to conform to this presentation.", + "Additional information is provided in Note 22 below.", + "NOTE 2 \u2013 TRADING INSTRUMENTS AND TRADING INSTRUMENTS SOLD BUT NOT YET PURCHASED:", + "||September 30, 2007|September 30, 2006|\n||Trading Instruments|Instruments Sold but Not Yet Purchased|Trading Instruments|Instruments Sold but Not Yet Purchased|\n||(in 000's)|\n|Marketable:|||||\n|Municipal Obligations|$ 200,024|$ 54|$ 192,028|$ 5|\n|Corporate Obligations|56,069|952|134,431|968|\n|Government Obligations|83,322|45,275|37,793|31,636|\n|Agencies|47,123|60,829|68,380|34,023|\n|Total Debt Securities|386,538|107,110|432,632|66,632|\n|Derivative Contracts|30,603|8,445|20,904|8,309|\n|Equity Securities|46,913|34,174|29,532|19,068|\n|Other Securities|3,707|-|2,703|-|\n|Total|$ 467,761|$ 149,729|$ 485,771|$ 94,009|\n", + "Mortgage backed securities of $48.9 million and $77.1 million at September 30, 2007 and September 30, 2006, respectively, are included in Corporate Obligations and Agencies in the table above.", + "Mortgage backed securities sold but not yet purchased of $60.8 million and $34 million at September 30, 2007 and September 30, 2006, respectively, are included in Agencies in the table above.", + "Net unrealized (losses) gains related to open trading positions at September 30, 2007, September 30, 2006, and September 30, 2005 were $(726,000), $4,387,000, and $(1,257,000), respectively.", + "NOTE 3 - AVAILABLE FOR SALE SECURITIES: Available for sale securities are comprised primarily of CMOs, mortgage related debt, and certain equity securities of the Company's non-broker-dealer subsidiaries, principally RJBank.", + "There were proceeds from the sale of available for sale securities of $81,000 for the year ended September 30, 2007, $252,000 for the year ended September 30, 2006 and $9,250,000 for the year ended September 30, 2005.", + "The realized gains and losses related to the sale of available for sale securities were immaterial to the consolidated financial statements for all years presented.", + "NOTE 15 - CAPITAL TRANSACTIONS: The following table presents information on a monthly basis for purchases of the Company\u2019s stock for the quarter ended September 30, 2007:", + "|Period|Number of Shares Purchased -1|Average Price Per Share|\n|July 1, 2007 \u2013 July 31, 2007|-|$ -|\n|August 1, 2007 \u2013 August 31, 2007|-|-|\n|September 1, 2007 \u2013 September 30, 2007|1,548|33.64|\n|Total|1,548|$33.64|\n", + "(1) The Company does not have a formal stock repurchase plan.", + "Shares are repurchased at the discretion of management pursuant to prior authorization from the Board of Directors.", + "On May 20, 2004, the Board of Directors authorized purchases of up to $75 million.", + "Since that date 461,500 shares have been repurchased for a total of $9.6 million, leaving $65.4 million available to repurchase shares.", + "Historically the Company has considered such purchases when the price of its stock approaches 1.5 times book value or when employees surrender shares as payment for option exercises.", + "The decision to repurchase shares is subject to cash availability and other factors.", + "During 2007 and 2006, 69,986 and 189,664 shares were repurchased at an average price of $31.54 and $28.97, respectively.", + "During the three months ended December 31, 2006, 42,618 shares were purchased for the trust fund that was established and funded to acquire Company common stock in the open market to be used to settle restricted stock units granted as a retention vehicle for certain employees of the Company\u2019s wholly owned Canadian subsidiary (see Note 17 below for more information on this trust fund).", + "With the exception of the shares purchased through this trust fund, the Company only purchased shares during the balance of the year that were surrendered by employees as a payment for option exercises.", + "NOTE 16 - OTHER COMPREHENSIVE INCOME: The activity in other comprehensive income and related tax effects are as follows:", + "||September 30, 2007|September 30, 2006|September 30, 2005|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Available for Sale Securities, Net of||||\n|Tax Effect Of -$1,217 in 2007, $129 in 2006, and $51 in 2005|$ -2,150|$ 217|$ 79|\n|Net Unrealized Gain on Interest Rate Swaps Accounted for as Cash Flow||||\n|Hedges, Net of Tax Effect of $0 in 2007, $28 in 2006, and||||\n|$566 in 2005|-|44|882|\n|Net Change in Currency Translations, Net of Tax Effect of $11,463 in||||\n|2007, $1,312 in 2006, and $3,078 in 2005|20,246|2,202|4,796|\n|Other Comprehensive Income|$ 18,096|$ 2,463|$ 5,757|\n", + "The components of accumulated other comprehensive income, net of income taxes:", + "||September 30, 2007|September 30, 2006|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Securities Available for Sale, Net of Tax Effect of ($998) in 2007|||\n|and $245 in 2006|$ -1,747|$ 403|\n|Net Currency Translations, Net of Tax Effect of $18,593 in 2007 and $7,285 in 2006|31,938|11,692|\n|Accumulated Other Comprehensive Income|$ 30,191|$ 12,095|\n", + "NOTE 17 - EMPLOYEE BENEFIT PLANS: The Company's profit sharing plan and employee stock ownership plan provide certain death, disability or retirement benefits for all employees who meet certain service requirements.", + "The plans are noncontributory.", + "Contributions by the Company, if any, are determined annually by the Company\u2019s Board of Directors on a discretionary basis and are recognized as compensation cost throughout the year.", + "Benefits become fully vested after seven years of qualified service.", + "All shares owned by the ESOP are included in earnings per share calculations.", + "Cash dividends paid to the ESOP are reflected as a reduction of", + "RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES Management's Discussion and Analysis 41 periods where equity markets improve, assets under administration and client activity generally increase, thereby having a favorable impact on net revenues.", + "We also earn certain servicing fees, such as omnibus and education and marketing support (\u201cEMS\u201d) fees from mutual fund and annuity companies whose products we distribute, and from banks to which we sweep client cash in the RJBDP.", + "Such fees are included in \u201cAccount and service fees.", + "\u201d Servicing fees earned by mutual fund and annuity companies are generally based on the level of assets or number of positions in such programs.", + "Fees earned from our RJBDP are generally based on client cash balances in the program, as well as the level of short-term interest rates relative to interest paid to clients on balances in the RJBDP.", + "Net interest revenue in the PCG segment is generated by interest earnings on margin loans provided to clients and on cash segregated pursuant to regulations, less interest paid on client cash balances.", + "Higher client cash balances generally lead to increased interest income, depending on spreads realized in our client interest program.", + "For more information on client cash balances, see our previous discussion of interest-earning assets and interest-bearing liabilities in the Net interest analysis section of this MD&A.", + "For an overview of our PCG segment operations, refer to the information presented in Item 1 \u201cBusiness\u201d of this Form 10-K. Operating results", + "||Year ended September 30,|% change|\n|$ in thousands|2018|2017|2016|2018 vs. 2017|2017 vs. 2016|\n|Revenues:||||||\n|Securities commissions and fees:||||||\n|Fee-based accounts|$2,540,336|$2,040,839|$1,589,124|24%|28%|\n|Mutual funds|641,603|646,614|631,102|-1%|2%|\n|Insurance and annuity products|413,591|385,493|377,329|7%|2%|\n|Equity products|325,514|303,015|240,855|7%|26%|\n|Fixed income products|112,509|118,062|95,908|-5%|23%|\n|New issue sales credits|47,200|72,281|44,088|-35%|64%|\n|Subtotal securities commissions and fees|4,080,753|3,566,304|2,978,406|14%|20%|\n|Interest income|193,105|152,711|107,281|26%|42%|\n|Account and service fees:||||||\n|Mutual fund and annuity service fees|331,543|290,661|255,405|14%|14%|\n|RJBDP fees - third-party banks|262,424|202,049|92,315|30%|119%|\n|Affiliate deposit account servicing fees from RJ Bank|91,720|67,981|43,145|35%|58%|\n|Client account and service fees|95,794|98,500|95,010|-3%|4%|\n|Client transaction fees and other|22,658|25,103|23,156|-10%|8%|\n|Subtotal account and service fees|804,139|684,294|509,031|18%|34%|\n|Other|42,834|34,279|32,000|25%|7%|\n|Total revenues|5,120,831|4,437,588|3,626,718|15%|22%|\n|Interest expense|-27,801|-15,955|-10,239|74%|56%|\n|Net revenues|5,093,030|4,421,633|3,616,479|15%|22%|\n|Non-interest expenses:||||||\n|Sales commissions|3,050,539|2,653,287|2,193,099|15%|21%|\n|Admin & incentive compensation and benefit costs|835,662|713,043|595,541|17%|20%|\n|Communications and information processing|234,300|193,902|166,507|21%|16%|\n|Occupancy and equipment costs|154,020|146,394|125,555|5%|17%|\n|Business development|115,056|98,138|88,535|17%|11%|\n|Jay Peak matter|\u2014|130,000|20,000|-100%|550%|\n|Other|127,359|113,919|86,678|12%|31%|\n|Total non-interest expenses|4,516,936|4,048,683|3,275,915|12%|24%|\n|Pre-tax income|$576,094|$372,950|$340,564|54%|10%|\n" + ], + "question_id": "simplong-test-161", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of the Losses on reacquired debt in the years where Contract valuation adjustments(d) is greater than 1? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Liquidity and Capital Resources The following table presents selected financial information and statistics for each of the last three fiscal years (dollars in millions):", + "||2004|2003|2002|\n|Cash, cash equivalents, and short-term investments|$5,464|$4,566|$4,337|\n|Accounts receivable, net|$774|$766|$565|\n|Inventory|$101|$56|$45|\n|Working capital|$4,375|$3,530|$3,730|\n|Days sales in accounts receivable (DSO) (a)|30|41|36|\n|Days of supply in inventory (b)|5|4|4|\n|Days payables outstanding (DPO) (c)|76|82|77|\n|Annual operating cash flow|$934|$289|$89|\n", + "As of September 25, 2004, the Company had $5.464 billion in cash, cash equivalents, and short-term investments, an increase of $898 million over the same balances at the end of fiscal 2003.", + "The principal components of this increase were cash generated by operating activities of $934 million and proceeds of $427 million from the issuance of common stock under stock plans, partially offset by cash used to repay the Company\u2019s outstanding debt of $300 million and purchases of property, plant, and equipment of $176 million.", + "The Company\u2019s short-term investment portfolio is primarily invested in high credit quality, liquid investments.", + "Approximately $3.2 billion of this cash, cash equivalents, and short-term investments are held by the Company\u2019s foreign subsidiaries and would be subject to U. S. income taxation on repatriation to the U. S. The Company is currently assessing the impact of the one-time favorable foreign dividend provisions recently enacted as part of the American Jobs Creation Act of 2004, and may decide to repatriate earnings from some of its foreign subsidiaries.", + "The Company believes its existing balances of cash, cash equivalents, and short-term investments will be sufficient to satisfy its working capital needs, capital expenditures, stock repurchase activity, outstanding commitments, and other liquidity requirements associated with its existing operations over the next 12 months.", + "Debt In February 2004, the Company retired $300 million of debt outstanding in the form of 6.5% unsecured notes.", + "The notes were originally issued in 1994 and were sold at 99.9925% of par for an effective yield to maturity of 6.51%.", + "The Company currently has no long-term debt obligations.", + "Capital Expenditures The Company\u2019s total capital expenditures were $176 million during fiscal 2004, $104 million of which were for retail store facilities and equipment related to the Company\u2019s Retail segment and $72 million of which were primarily for corporate infrastructure, including information systems enhancements and operating facilities enhancements and expansions.", + "The Company currently anticipates it will utilize approximately $240 million for capital expenditures during 2005, approximately $125 million of which is expected to be utilized for further expansion of the Company\u2019s Retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure.", + "approved in 2006 has been used for the regulatory presentation and all the updated parameters were used for the 2005 ARO layer for SFAS No.143 recognition.16.", + "Regulatory Assets and Liabilities Xcel Energy\u2019s regulated businesses prepare their Consolidated Financial Statements in accordance with the provisions of SFAS No.71, as discussed in Note 1 to the Consolidated Financial Statements.", + "Under SFAS No.71, regulatory assets and liabilities can be created for amounts that regulators may allow to be collected, or may require to be paid back to customers in future electric and natural gas rates.", + "Any portion of Xcel Energy\u2019s business that is not regulated cannot use SFAS No.71 accounting.", + "If changes in the utility industry or the business of Xcel Energy no longer allow for the application of SFAS No.71 under GAAP, Xcel Energy would be required to recognize the write-off of regulatory assets and liabilities in its statement of income.", + "The components of unamortized regulatory assets and liabilities of continuing operations shown on the balance sheet at Dec. 31 are:", + "| | See Note(s)| Remaining Amortization Period| 2006| 2005|\n| | (Thousands of Dollars)|\n| Regulatory Assets|||||\n|Pension and employee benefit obligations|9|Various|$475,815|$27,234|\n|AFDC recorded in plant(a)||Plant lives|179,023|170,785|\n|Conservation programs(a)||Various|124,123|111,429|\n|||Term of related|||\n|Contract valuation adjustments(d)|11|contract|109,221|111,639|\n|Losses on reacquired debt|1|Term of related debt|74,420|84,290|\n|Net asset retirement obligations(e)|1,14|Plant lives|54,550|171,170|\n|Renewable resource costs||One to two years|49,902|50,453|\n|Environmental costs|14,15|Generally four to six years|35,715|33,957|\n|Unrecovered natural gas costs(c)|1|One to two years|17,943|12,998|\n|Private fuel storage||Five years|14,473|\u2014|\n|State commission accounting adjustments(a)||Plant lives|13,950|14,460|\n|Unrecovered electric production and MISO Day 2 costs|1|To be determined in future rate proceedings|11,014|6,634|\n|Nuclear decommissioning costs(b)||To be determined in future rate proceedings|9,325|8,317|\n|Rate case costs|1|Various|8,689|4,549|\n|Other||Various|10,982|12,092|\n|Total regulatory assets|||$1,189,145|$820,007|\n|Regulatory Liabilities|||||\n|Plant removal costs|1,14||$920,583|$895,653|\n|Pension and employee benefit obligations|9||196,803|397,261|\n|Investment tax credit deferrals|||78,205|84,437|\n|Deferred income tax adjustments|1||67,002|75,171|\n|Contract valuation adjustments(d)|11||56,745|99,734|\n|Fuel costs, refunds and other|||30,032|9,137|\n|Electric fuel recovery refund|||10,054|\u2014|\n|Interest on income tax refunds|||5,233|6,031|\n|Total regulatory liabilities|||$1,364,657|$1,567,424|\n", + "(a) Earns a return on investment in the ratemaking process.", + "These amounts are amortized consistent with recovery in rates.", + "(b) These costs do not relate to NSP-Minnesota\u2019s nuclear plants.", + "They relate to the DOE assessments, as discussed previously in Note 15.", + "(c) Excludes current portion expected to be returned to customers within 12 months of $17.7 million and $16.3 million for 2006 and 2005, respectively.", + "(d) Includes the fair value of certain long-term contracts used to meet native energy requirements.", + "(e) Includes amounts recorded for future recovery of asset retirement obligations, less amounts recovered through nuclear decommissioning accruals and gains from decommissioning investments.", + "| | Options|\n| | Source of Fair Value| Maturity Less Than 1 Year| Maturity 1 to 3 Years| Maturity 4 to 5 Years| Maturity Greater Than 5 Years| Total Options Fair Value|\n| | (Thousands of Dollars)|\n|NSP-Minnesota|2|$514|$\u2014|$\u2014|$\u2014|$514|\n|PSCo|2|3,241|\u2014|\u2014|\u2014|3,241|\n|NSP-Wisconsin|2|20|\u2014|\u2014|\u2014|20|\n|Total Options Fair Value||$3,775|$\u2014|$\u2014|$\u2014|$3,775|\n", + "1 \u2014 Prices actively quoted or based on actively quoted prices.2 \u2014 Prices based on models and other valuation methods.", + "These represent the fair value of positions calculated using internal models when directly and indirectly quoted external prices or prices derived from external sources are not available.", + "Internal models incorporate the use of options pricing and estimates of the present value of cash flows based upon underlying contractual terms.", + "The models reflect management\u2019s estimates, taking into account observable market prices, estimated market prices in the absence of quoted market prices, the risk-free market discount rate, volatility factors, estimated correlations of commodity prices and contractual volumes.", + "Market price uncertainty and other risks also are factored into the model.", + "* \u2014 SPS conducts an inconsequential amount of commodity trading.", + "Margins from commodity trading activity are partially redistributed to SPS, NSP-Minnesota, and PSCo, pursuant to the JOA approved by the FERC.", + "As a result of the JOA, margins received pursuant to the JOA are reflected as part of the fair values by source for the commodity trading net asset or liability balances.", + "Normal purchases and sales transactions, as defined by SFAS No.133 and certain other long-term power purchase contracts are not included in the fair values by source tables as they are not recorded at fair value as part of commodity trading operations and are not qualifying hedges.", + "At Dec. 31, 2006, a 10-percent increase in market prices over the next 12 months for commodity trading contracts would increase pretax income from continuing operations by approximately $0.9 million, whereas a 10-percent decrease would decrease pretax income from continuing operations by approximately $1.1 million.", + "Xcel Energy\u2019s short-term wholesale and commodity trading operations measure the outstanding risk exposure to price changes on transactions, contracts and obligations that have been entered into, but not closed, using an industry standard methodology known as VaR.", + "VaR expresses the potential change in fair value on the outstanding transactions, contracts and obligations over a particular period of time, with a given confidence interval under normal market conditions.", + "Xcel Energy utilizes the variance/covariance approach in calculating VaR.", + "The VaR model employs a 95-percent confidence interval level based on historical price movement, lognormal price distribution assumption, delta half-gamma approach for non-linear instruments and a three-day holding period for both electricity and natural gas.", + "VaR is calculated on a consolidated basis.", + "The VaRs for the commodity trading operations were:", + "| | | During 2006|\n| | Year ended Dec. 31, 2006| Average| High| Low|\n| | (Millions of Dollars)|\n|Commodity trading(a)|$0.49|$1.32|$2.60|$0.39|\n", + "(a) Comprises transactions for NSP-Minnesota, PSCo and SPS.", + "Interest Rate Risk \u2014 Xcel Energy and its subsidiaries are subject to the risk of fluctuating interest rates in the normal course of business.", + "Xcel Energy\u2019s policy allows interest rate risk to be managed through the use of fixed rate debt, floating rate debt and interest rate derivatives such as swaps, caps, collars and put or call options.", + "Xcel Energy engages in hedges of cash flow and fair value exposure.", + "The fair value of interest rate swaps designated as cash flow hedges is initially recorded in Other Comprehensive Income.", + "Reclassification of unrealized gains or losses on cash flow hedges of variable rate debt instruments from Other Comprehensive Income into earnings occurs as interest payments are accrued on the debt instrument, and generally offsets the change in the interest accrued on the underlying variable rate debt.", + "Hedges of fair value exposure are entered into to hedge the fair value of debt instruments.", + "Changes in the derivative fair values that are designated as fair value hedges are recognized in earnings as offsets to the changes in fair values of debt instruments.", + "To test the effectiveness of such swaps, a hypothetical swap is used to mirror all the critical terms of the underlying debt and regression analysis is utilized to assess the effectiveness of the actual swap at inception and on an ongoing basis.", + "The fair value of interest rate swaps is determined through", + "Dividend and Other Capital-Related Restrictions \u2014 Xcel Energy depends on its subsidiaries to pay dividends.", + "All of Xcel Energy Inc. \u2019s utility subsidiaries\u2019 dividends are subject to the FERC\u2019s jurisdiction, which prohibits the payment of dividends out of capital accounts; payment of dividends is allowed out of retained earnings only.", + "Due to certain restrictive covenants, Xcel Energy Inc. is required to be current on particular interest payments before dividends can be paid.", + "The most restrictive dividend limitations for NSP-Minnesota, NSP-Wisconsin and SPS are imposed by their respective state regulatory commission.", + "PSCo\u2019s dividends are subject to the FERC\u2019s jurisdiction under the Federal Power Act, which prohibits the payment of dividends out of capital accounts; payment of dividends is allowed out of retained earnings only.", + "Only NSP-Minnesota has a first mortgage indenture which places certain restrictions on the amount of cash dividends it can pay to Xcel Energy Inc. , the holder of its common stock.", + "Even with this restriction, NSP-Minnesota could have paid more than $1.7 billion in additional cash dividends to Xcel Energy Inc. at both Dec. 31, 2016 and 2015.", + "NSP-Minnesota\u2019s state regulatory commissions indirectly limit the amount of dividends NSP-Minnesota can pay by requiring an equity-to-total capitalization ratio between 46.9 percent and 57.3 percent.", + "NSP-Minnesota\u2019s equity-to-total capitalization ratio was 52.1 percent at Dec. 31, 2016 and $1.0 billion in retained earnings was not restricted.", + "Total capitalization for NSP-Minnesota was $10.3 billion at Dec. 31, 2016, which did not exceed the limit of $10.75 billion.", + "NSP-Wisconsin cannot pay annual dividends in excess of approximately $53.1 million if its calendar year average equity-to-total capitalization ratio is or falls below the state commission authorized level of 52.5 percent, as calculated consistent with PSCW requirements.", + "NSP-Wisconsin\u2019s calendar year average equity-to-total capitalization ratio calculated on this basis was 53.6 percent at Dec. 31, 2016 and $33.6 million in retained earnings was not restricted.", + "SPS\u2019 state regulatory commissions indirectly limit the amount of dividends that SPS can pay Xcel Energy Inc. by requiring an equity\u0002to-total capitalization ratio (excluding short-term debt) between 45.0 percent and 55.0 percent.", + "In addition, SPS may not pay a dividend that would cause it to lose its investment grade bond rating.", + "SPS\u2019 equity-to-total capitalization ratio (excluding short-term debt) was 54.1 percent at Dec. 31, 2016 and $487 million in retained earnings was not restricted.", + "The issuance of securities by Xcel Energy Inc. generally is not subject to regulatory approval.", + "However, utility financings and certain intra-system financings are subject to the jurisdiction of the applicable state regulatory commissions and/or the FERC.", + "As of Dec. 31, 2016: ?", + "PSCo has authorization to issue up to an additional $2.2 billion of long-term debt and up to $800 million of short-term debt. ?", + "SPS has authorization to issue up to $500 million of short-term debt and SPS will file for additional long-term debt authorization. ?", + "NSP-Wisconsin has authorization to issue up to $150 million of short-term debt and NSPW will file for additional long-term debt authorization. ?", + "NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization ratio remains between 46.9 percent and 57.3 percent and to issue short-term debt provided it does not exceed 15 percent of total capitalization.", + "Total capitalization for NSP-Minnesota cannot exceed $10.75 billion.", + "Xcel Energy believes these authorizations are adequate and seeks additional authorization as necessary.5.", + "Joint Ownership of Generation, Transmission and Gas Facilities Following are the investments by Xcel Energy Inc. \u2019s utility subsidiaries in jointly owned generation, transmission and gas facilities and the related ownership percentages as of Dec. 31, 2016:" + ], + "question_id": "simplong-test-162", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the average share price that the shares were repurchased in 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ANALOG DEVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The total intrinsic value of options exercised (i. e. the difference between the market price at exercise and the price paid by the employee to exercise the options) during fiscal 2011, 2010 and 2009 was $96.5 million, $29.6 million and $4.7 million, respectively.", + "The total amount of proceeds received by the Company from exercise of these options during fiscal 2011, 2010 and 2009 was $217.4 million, $240.4 million and $15.1 million, respectively.", + "Proceeds from stock option exercises pursuant to employee stock plans in the Company\u2019s statement of cash flows of $217.2 million, $216.1 million and $12.4 million for fiscal 2011, 2010 and 2009, respectively, are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options, and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "The withholding amount is based on the Company\u2019s minimum statutory withholding requirement.", + "A summary of the Company\u2019s restricted stock unit award activity as of October 29, 2011 and changes during the year then ended is presented below:", + "||Restricted Stock Units Outstanding|Weighted- Average Grant- Date Fair Value Per Share|\n|Restricted stock units outstanding at October 30, 2010|1,265|$28.21|\n|Units granted|898|$34.93|\n|Restrictions lapsed|-33|$24.28|\n|Units forfeited|-42|$31.39|\n|Restricted stock units outstanding at October 29, 2011|2,088|$31.10|\n", + "As of October 29, 2011, there was $88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units.", + "That cost is expected to be recognized over a weighted-average period of 1.3 years.", + "The total grant-date fair value of shares that vested during fiscal 2011, 2010 and 2009 was approximately $49.6 million, $67.7 million and $74.4 million, respectively.", + "Common Stock Repurchase Program The Company\u2019s common stock repurchase program has been in place since August 2004.", + "In the aggregate, the Board of Directors has authorized the Company to repurchase $5 billion of the Company\u2019s common stock under the program.", + "Under the program, the Company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions.", + "Unless terminated earlier by resolution of the Company\u2019s Board of Directors, the repurchase program will expire when the Company has repurchased all shares authorized under the program.", + "As of October 29, 2011, the Company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $4,278.5 million under this program.", + "An additional $721.5 million remains available for repurchase of shares under the current authorized program.", + "The repurchased shares are held as authorized but unissued shares of common stock.", + "Any future common stock repurchases will be dependent upon several factors, including the amount of cash available to the Company in the United States and the Company\u2019s financial performance, outlook and liquidity.", + "The Company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units, or in certain limited circumstances to satisfy the exercise price of options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT\u2019S DISCUSSION AND ANALYSIS", + "||As of|\n|(dollars in millions)|December 31,2016|September 30,2016|June 30,2016|March 31,2016|December 31,2015|September 30,2015|June 30,2015|March 31,2015|\n|Balance Sheet Data:|||||||||\n|Total assets|$149,520|$147,015|$145,183|$140,077|$138,208|$135,447|$137,251|$136,535|\n|Loans and leases-18|107,669|105,467|103,551|100,991|99,042|97,431|96,538|94,494|\n|Allowance for loan and lease losses|1,236|1,240|1,246|1,224|1,216|1,201|1,201|1,202|\n|Total securities|25,610|25,704|24,398|24,057|24,075|24,354|25,134|25,121|\n|Goodwill|6,876|6,876|6,876|6,876|6,876|6,876|6,876|6,876|\n|Total liabilities|129,773|126,834|124,957|120,112|118,562|115,847|117,665|116,971|\n|Deposits|109,804|108,327|106,257|102,606|102,539|101,866|100,615|98,990|\n|Federal funds purchased and securities sold under agreements to repurchase|1,148|900|717|714|802|1,293|3,784|4,421|\n|Other short-term borrowed funds|3,211|2,512|2,770|3,300|2,630|5,861|6,762|7,004|\n|Long-term borrowed funds|12,790|11,902|11,810|10,035|9,886|4,153|3,890|3,904|\n|Total stockholders\u2019 equity|19,747|20,181|20,226|19,965|19,646|19,600|19,586|19,564|\n|Other Balance Sheet Data:|||||||||\n|Asset Quality Ratios:|||||||||\n|Allowance for loan and lease losses as a percentage of total loans and leases|1.15%|1.18%|1.20%|1.21%|1.23%|1.23%|1.24%|1.27%|\n|Allowance for loan and lease losses as a percentage of nonperforming loans and leases|118|112|119|113|115|116|114|106|\n|Nonperforming loans and leases as a percentage of total loans and leases|0.97|1.05|1.01|1.07|1.07|1.06|1.09|1.20|\n|Capital ratios:-19|||||||||\n|CET1 capital ratio-20|11.2|11.3|11.5|11.6|11.7|11.8|11.8|12.2|\n|Tier 1 capital ratio-21|11.4|11.5|11.7|11.9|12.0|12.0|12.1|12.2|\n|Total capital ratio-22|14.0|14.2|14.9|15.1|15.3|15.4|15.3|15.5|\n|Tier 1 leverage ratio-23|9.9|10.1|10.3|10.4|10.5|10.4|10.4|10.5|\n", + "(1) Third quarter 2016 noninterest income included $67 million of pre-tax notable items consisting of a $72 million gain on mortgage/home equity TDR transaction, partially offset by $5 million related to asset finance repositioning.", + "(2) Third quarter 2016 noninterest expense included $36 million of pre-tax notable items consisting of $17 million of TOP III efficiency initiatives, $11 million related to asset finance repositioning and $8 million of home equity operational items.", + "(3) Third quarter 2016 net income included $19 million of after-tax notable items consisting of a $45 million gain on mortgage/home equity TDR transaction, partially offset by $11 million of TOP III efficiency initiatives, $10 million related to asset finance repositioning and $5 million of home equity operational items.", + "(4) Third quarter 2016 net income per average common share, basic and diluted, included $0.04 related to notable items consisting of $0.09 attributable to the gain on mortgage/home equity TDR transaction, partially offset by a $0.02 impact from TOP III efficiency initiatives, $0.02 impact related to asset finance repositioning and a $0.01 impact from home equity operational items.", + "(5) Second quarter 2015 noninterest expense included $40 million of pre-tax restructuring charges and special items consisting of $25 million of restructuring charges, $1 million of CCAR and regulatory expenses and $14 million related to separation and rebranding.", + "(6) Second quarter 2015 net income included $25 million of after-tax restructuring charges and special items consisting of $15 million of restructuring charges, $1 million of CCAR and regulatory expenses and $9 million related to separation and rebranding.", + "(7) Second quarter 2015 net income per average common share, basic and diluted, included $0.05 attributed to restructuring and special items.", + "(8) First quarter 2015 noninterest expense included $10 million of pre-tax restructuring charges and special items consisting of $1 million of restructuring charges, $1 million of CCAR and regulatory expenses and $8 million related to separation and rebranding.", + "(9) First quarter 2015 net income included $6 million of after-tax restructuring charges and special items consisting of $1 million of restructuring charges and $5 million related to separation and rebranding.", + "(10) First quarter 2015 net income per average common share, basic and diluted, included $0.01 attributed to restructuring and special items.", + "(11) \u201cReturn on average common equity\u201d is defined as net income available to common stockholders divided by average common equity.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(12) \u201cReturn on average tangible common equity\u201d is defined as net income (loss) available to common stockholders divided by average common equity excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(13) \u201cReturn on average total assets\u201d is defined as net income (loss) divided by average total assets.", + "(14) \u201cReturn on average total tangible assets\u201d is defined as net income (loss) divided by average total assets excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "(15) \u201cEfficiency ratio is defined as the ratio of our total noninterest expense to the sum of net interest income and total noninterest income.", + "(16) \u201cNet interest margin\u201d is defined as net interest income divided by average total interest-earning assets.", + "(17) Ratios for the periods above are presented on an annualized basis.", + "(18) Excludes loans held for sale of $625 million, $526 million, $850 million, $751 million, $365 million, $420 million, $697 million, and $376 million as of December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.", + "(19) Basel III transitional rules for institutions applying the Standardized approach to calculating risk-weighted assets became effective January 1, 2015.", + "The capital ratios and associated components are prepared using the Basel III Standardized transitional approach.", + "(20) \u201cCommon equity tier 1 capital ratio\u201d represents CET1 capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(21) \u201cTier 1 capital ratio\u201d is tier 1 capital, which includes CET1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(22) \u201cTotal capital ratio\u201d is total capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(23) \u201cTier 1 leverage ratio\u201d is tier 1 capital divided by quarterly average total assets as defined under Basel III Standardized approach.", + "In Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, \u201cwe,\u201d \u201cus\u201d and \u201cour\u201d refer to Freeport-McMoRan Copper & Gold Inc. (FCX) and its consolidated subsidiaries.", + "The results of operations reported and summarized below are not necessarily indicative of future operating results (refer to \u201cCautionary Statement\u201d for further discussion).", + "In particular, the financial results for the year ended 2013 include the results of FCX Oil & Gas Inc. (FM O&G) only since June 1, 2013.", + "References to \u201cNotes\u201d are Notes included in our Notes to Consolidated Financial Statements.", + "Throughout Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, all references to earnings or losses per share are on a diluted basis, unless otherwise noted.", + "OVERVIEW In 2013, we completed the acquisitions of Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR).", + "Refer to Note 2 for further discussion of these acquisitions, including a summary of the preliminary purchase price allocations.", + "With these acquisitions, we are a premier United States-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and natural gas resources, and a growing production profile.", + "We are the world\u2019s largest publicly traded copper producer.", + "Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world\u2019s largest copper and gold deposits, significant mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and significant oil and natural gas assets in North America, including reserves in the Deepwater Gulf of Mexico (GOM), onshore and offshore California, in the Eagle Ford shale play in Texas, in the Haynesville shale play in Louisiana, in the Madden area in central Wyoming, and an industry-leading position in the emerging shallow-water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana (previously referred to as the ultra-deep gas trend).", + "We have significant mineral reserves, resources and future development opportunities within our portfolio of mining assets.", + "At December 31, 2013, our estimated consolidated recoverable proven and probable mineral reserves totaled 111.2 billion pounds of copper, 31.3 million ounces of gold and 3.26 billion pounds of molybdenum, which were determined using long-term average prices of $2.00 per pound for copper, $1,000 per ounce for gold and $10 per pound for molybdenum.", + "Refer to \u201cCritical Accounting Estimates \u2014 Mineral Reserves\u201d for further discussion.", + "A summary of the sources of our consolidated copper, gold and molybdenum production for the year 2013 by geographic location follows:", + "||Copper|Gold|Molybdenum||\n|North America|35%|1%|86%|a|\n|South America|32%|8%|14%||\n|Indonesia|22%|91%|\u2014||\n|Africa|11%|\u2014|\u2014||\n||100%|100%|100%||\n", + "a.", + "For 2013, 60 percent of our consolidated molybdenum production in North America was from the Henderson and Climax primary molybdenum mines.", + "Copper production from the Grasberg, Morenci and Cerro Verde mines totaled 49 percent of our consolidated copper production in 2013.", + "During 2013, we completed our second phase expansion project at Tenke.", + "We also advanced construction on the Morenci mill expansion, with startup expected in the first half of 2014, and commenced construction on the Cerro Verde mill expansion, with completion expected in 2016.", + "These projects are expected to significantly increase our minerals production in future periods.", + "Refer to \u201cOperations\u201d for further discussion of our mining operations.", + "Our oil and gas business has significant proved, probable and possible reserves with financially attractive organic growth opportunities.", + "Our estimated proved oil and natural gas reserves at December 31, 2013, totaled 464 million barrels of oil equivalents (MMBOE), with 80 percent comprised of oil (including natural gas liquids, or NGLs).", + "Our portfolio includes a broad range of development opportunities and high-potential exploration prospects.", + "For the seven-month period following the acquisition date, our oil and gas sales volumes totaled 38.1 MMBOE, including 26.6 million barrels (MMBbls) of crude oil, 54.2 billion cubic feet (Bcf) of natural gas and 2.4 MMBbls of NGLs.", + "Refer to \u201cOperations\u201d for further discussion of our oil and gas operations and to \u201cCritical Accounting Estimates \u2014 Oil and Natural Gas Reserves\u201d for further discussion of our reserves.", + "Our results for 2013, compared with 2012, primarily benefited from higher copper and gold sales volumes, partly offset by lower metals price realizations, and include the results of FM O&G beginning June 1, 2013.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the three years ended December 31, 2013.", + "At December 31, 2013, we had $2.0 billion in consolidated cash and cash equivalents and $20.7 billion in total debt, including $10.5 billion of acquisition-related debt and $6.7 billion of debt assumed in connection with the oil and gas acquisitions.", + "Refer to Note 8 and \u201cCapital Resources and Liquidity\u201d for further discussion.", + "At current copper and crude oil prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects, reduce debt and return cash to shareholders through dividends on our common stock." + ], + "question_id": "simplong-test-163", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of the elements in the years where Residential is greater than 20? (in (million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "requirements relating to the Act.", + "The Companies\u2019 actuaries have determined that each prescription drug plan provides a benefit that is at least actuarially equivalent to the Medicare prescription drug plan and projections indicate that this will be the case for 20 years; therefore, the Companies are eligible to receive the benefit.", + "When the plans\u2019 benefits are no longer actuarially equivalent to the Medicare plan, 25% of the retirees in each plan are assumed to begin to decline participation in the Companies\u2019 prescription programs.", + "To reflect the effect of the Act on the plans, the accumulated postretirement benefit obligations were reduced for Con Edison, Con Edison of New York and O&R by $160 million, $139 million and $21 million, respectively, as of December 31, 2004.", + "The 2004 postretirement benefit costs were reduced by $29 million for Con Edison, $26 million for Con Edison of New York and $3 million for O&R.", + "The Companies will recognize the 28% subsidy (reflected as an unrecognized net gain to each plan) as an offset to plan costs.", + "The 28% subsidy is expected to reduce prescription drug plan costs by about 25% starting in 2006.", + "Note G \u2013 Environmental Matters Superfund Sites Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.", + "The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which includes costs of demolition, removal, disposal, storage, replacement, containment and monitoring) and environmental damages.", + "Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred.", + "The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas sites, are referred to herein as \u201cSuperfund Sites.", + "\u201d For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to discharge their related obligations.", + "For Superfund Sites (including the manufactured gas sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites in light of the information available, applicable remediation standards and experience with similar sites.", + "For the year ended December 31, 2004, Con Edison of New York and O&R incurred approximately $44 million and $3 million, respectively, for environmental remediation costs.", + "Insurance recoveries of $36 million were received by Con Edison of New York, $35 million of which reduced related regulatory assets, with the remainder credited to expense.", + "For the year ended December 31, 2003, Con Edison of New York and O&R incurred approximately $21 million and $5 million, respectively, for environmental remediation costs.", + "No insurance recoveries were received.", + "For the year ended December 31, 2002, Con Edison of New York and O&R incurred approximately $22 million and $2 million, respectively, for environmental remediation costs, and O&R received insurance recoveries of $7 million.", + "The accrued liabilities and regulatory assets related to Superfund Sites for each of the Companies at December 31, 2004 and December 31, 2003 were as follows:", + "||Con Edison|Con Edison ofNew York|O&R|\n|(Millions of Dollars)|2004|2003|2004|2003|2004|2003|\n|Accrued Liabilities:|||||||\n|Manufactured gas plant sites|$148|$145|$92|$106|$56|$39|\n|Other Superfund Sites|50|48|49|47|1|1|\n|Total|$198|$193|$141|$153|$57|$40|\n|Regulatory assets|$165|$155|$106|$116|$59|$39|\n", + "Most of the accrued Superfund Site liability relates to Superfund Sites that have been investigated, in whole or in part.", + "As investigations progress on these and other sites, the Companies expect that additional liability will be accrued, the amount of which is not presently determinable but may be material.", + "The Utilities are permitted under their current rate agreements to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.", + "Con Edison of New York estimated in 2002 that for its manufactured gas sites, many of which had not been investigated, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range from approximately $65 million to $1.1 billion.", + "O&R estimated in 2004 that for its manufactured gas sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range from approximately $31 million to $87 million.", + "These", + "Gas Supply O&R and CECONY have combined their gas requirements and purchase contracts to meet those requirements into a single portfolio.", + "See \u201cCECONY \u2013 Gas Operations \u2013 Gas Supply\u201d above.", + "Competitive Energy Businesses Con Edison pursues competitive energy opportunities through three wholly-owned subsidiaries: Con Edison Solutions, Con Edison Energy and Con Edison Development.", + "These businesses include the sales and related hedging of electricity to wholesale and retail customers, sales of certain energy\u0002related products and services, and participation in energy infrastructure projects.", + "At December 31, 2010, Con Edison\u2019s equity investment in its competitive energy businesses was $337 million and their assets amounted to $807 million.", + "The competitive energy businesses are pursuing opportunities to invest in renewable generation and energy-related infrastructure projects.", + "Con Edison Solutions Con Edison Solutions primarily sells electricity to industrial, commercial and governmental customers in the northeastern United States and Texas.", + "It also sells electricity to residential and small commercial customers in the northeastern United States.", + "Con Edison Solutions does not sell electricity to the Utilities.", + "Con Edison Solutions sells electricity to customers who are provided delivery service by the Utilities.", + "It also provides energy efficiency services, procurement and management services to companies and governmental entities throughout most of the United States.", + "Con Edison Solutions was reported by KEMA, Inc. in September 2010 to be the 9th largest non-residential retail electricity provider in the United States.", + "Most of the company\u2019s electricity sales volumes are to industrial, large commercial and government customers.", + "The company also sells to two retail aggregation entities in Massachusetts and to individual residential and small commercial (mass market) customers in the northeastern United States.", + "At December 31, 2010, it served approximately 115,000 customers, not including approximately 165,000 served under the two aggregation agreements.", + "Con Edison Solutions sold 15,993 million kWhs of electricity in 2010, a 26 percent increase from 2009 volumes.", + "|| 2006| 2007| 2008| 2009| 2010|\n|Retail electric volumes sold (millions of kWhs)|10,633|12,209|10,749|12,723|15,993|\n|Number of retail customers accounts:(a)||||||\n|Industrial and large commercial|10,957|14,335|14,491|26,009|29,561|\n|Mass market|31,725|33,979|39,976|49,094|85,191|\n", + "(a) Excludes aggregation agreement customers Con Edison Solutions seeks to serve customers in utility service territories that encourage retail competition through transparent pricing, purchase of receivables programs or utility-sponsored customer acquisition programs.", + "The company currently sells electricity in the service territories of 43 utilities in the states of New York, Massachusetts, Connecticut, New Hampshire, Maine, New Jersey, Delaware, Maryland, Illinois, Pennsylvania and Texas, as well as the District of Columbia.", + "Total peak load at the end of 2010 was 5,300 MWs.", + "Approximately 34 percent of the sales volumes were in New York, 27 percent in New England, 31 percent in PJM and the remainder in Texas.", + "Con Edison Solutions offers the choice of green power to customers.", + "In 2010, it sold approximately 233 million kWhs of green power, ending the year with almost 24,000 customers.", + "Green power is a term used by electricity suppliers to describe electricity produced from renewable energy sources, including wind, hydro and solar.", + "Con Edison Solutions also provides energy-efficiency services to government and commercial customers.", + "The services include the design and installation of lighting retrofits, high\u0002efficiency heating, ventilating and air conditioning equipment and other energy saving technologies.", + "The company is compensated for their services based primarily on the increased energy efficiency of the installed equipment over a multi-year period.", + "Con Edison Solutions has won competitive solicitations for energy savings contracts with the Department of Energy and the Department of Defense, and a shared energy savings contract with the United States Postal Service.", + "Electric Sales and Deliveries O&R delivers electricity to its full-service customers who purchase electricity from the company.", + "The company also delivers electricity to its customers who purchase electricity from other suppliers through the company\u2019s energy choice program.", + "The company charges all customers in its service area for the delivery of electricity.", + "O&R generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the electricity it sells.", + "O&R\u2019s New York electric revenues (which accounted for 77.2 percent of O&R\u2019s electric revenues in 2014) are subject to a revenue decoupling mechanism.", + "As a result, O&R\u2019s New York electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "O&R\u2019s electric sales in New Jersey and Pennsylvania are not subject to a decoupling mechanism.", + "O&R\u2019s electric sales and deliveries for the last five years were:", + "|| Year Ended December 31,|\n||2010|2011| 2012| 2013| 2014|\n| Electric Energy Delivered (millions of kWhs)||||||\n|Total deliveries to O&R full service customers|3,498|3,029|2,691|2,555|2,429|\n|Delivery service for energy choice customers|2,330|2,760|3,040|3,166|3,240|\n| Total Deliveries In Franchise Area|5,828|5,789|5,731|5,721|5,669|\n| Electric Energy Delivered ($ in millions)||||||\n|Total deliveries to O&R full service customers|$570|$486|$405|$427|$455|\n|Delivery service for energy choice customers|132|157|178|192|207|\n|Other operating revenues|-10|-2|9|9|18|\n| Total Deliveries In Franchise Area|$692|$641|$592|$628|$680|\n| Average Revenue Per kWh Sold (Cents)||||||\n|Residential|18.3|18.0|16.7|18.1|20.3|\n|Commercial and Industrial|14.1|13.7|13.0|14.8|16.8|\n", + "For further discussion of the company\u2019s electric operating revenues and its electric results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8.", + "Electric Peak Demand The electric peak demand in O&R\u2019s service area occurs during the summer air conditioning season.", + "The weather during the summer of 2014 was cooler than design conditions.", + "O&R\u2019s 2014 service area peak demand was 1,370 MW, which occurred on July 2, 2014.", + "The 2014 peak demand included an estimated 697 MW for O&R\u2019s full-service customers and 673 MW for customers participating in its electric energy choice program.", + "\u201cDesign weather\u201d for the electric system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes.", + "Since the NYISO can invoke demand reduction programs under specific circumstances, design conditions do not include these programs\u2019 potential impact.", + "However, the O&R forecasted peak demand at design conditions does include the impact of permanent demand reduction programs.", + "The company estimates that, under design weather conditions, the 2015 service area peak demand will be 1,645 MW, including an estimated 819 MW for its full\u0002service customers and 826 MW for its electric energy choice customers.", + "The company forecasts average annual growth of the peak electric demand in the company\u2019s service area over the next five years at design conditions to be approximately 0.9 percent per year.", + "Electric Supply The electricity O&R sold to its full-service customers in 2014 was purchased under firm power contracts or through the wholesale electricity markets administered by the NYISO and PJM.", + "The company expects that these resources will again be adequate to meet the requirements of its customers in 2015.", + "O&R does not own any electric generating capacity.", + "The company plans to meet its continuing obligation to supply electricity to its customers through a combination of electricity purchased under contracts or purchased through the NYISO or PJM\u2019s wholesale electricity market.", + "To reduce the volatility of its customers\u2019 electric energy costs, the company has contracts to purchase electric energy and enters into derivative transactions to hedge the costs of a portion of its expected purchases under these contracts and through the NYISO and PJM\u2019s wholesale electricity market.", + "For information about the company\u2019s contracts, see Note O to the financial statements in Item 8.", + "In general, the Utilities recover their purchased power costs, including the cost of hedging purchase prices, pursuant to rate provisions approved by the state public utility regulatory authority having jurisdiction.", + "See \u201cFinancial and Commodity Market Risks \u2013 Commodity Price Risk,\u201d in Item 7 and \u201cRecoverable Energy Costs\u201d in Note A to the financial statements in Item 8.", + "From time to time, certain parties have petitioned the NYSPSC to review these provisions, the elimination of which could have a material adverse effect on the Companies\u2019 financial position, results of operations or liquidity", + "During 2014, 2013 and 2012, Netherland, Sewell & Associates, Inc. (\"NSAI\") prepared a certification of the prior year's reserves for the Alba field in E. G. The NSAI summary reports are filed as an exhibit to this Annual Report on Form 10-K. Members of the NSAI team have multiple years of industry experience, having worked for large, international oil and gas companies before joining NSAI.", + "The senior technical advisor has over 35 years of practical experience in petroleum geosciences, with over 15 years experience in the estimation and evaluation of reserves.", + "The second team member has over 10 years of practical experience in petroleum engineering, with 5 years experience in the estimation and evaluation of reserves.", + "Both are registered Professional Engineers in the State of Texas.", + "Ryder Scott Company (\"Ryder Scott\") also performed audits of the prior years' reserves of several of our fields in 2014, 2013 and 2012.", + "Their summary reports are filed as exhibits to this Annual Report on Form 10-K.", + "The team lead for Ryder Scott has over 20 years of industry experience, having worked for a major international oil and gas company before joining Ryder Scott.", + "He is a member of SPE, where he served on the Oil and Gas Reserves Committee, and is a registered Professional Engineer in the State of Texas.", + "Changes in Proved Undeveloped Reserves As of December 31, 2014, 728 mmboe of proved undeveloped reserves were reported, an increase of 101 mmboe from December 31, 2013.", + "The following table shows changes in total proved undeveloped reserves for 2014:", + "|Beginning of year|627|\n|Revisions of previous estimates|1|\n|Improved recovery|1|\n|Purchases of reserves in place|4|\n|Extensions, discoveries, and other additions|227|\n|Dispositions|-29|\n|Transfers to proved developed|-103|\n|End of year|728|\n", + "Significant additions to proved undeveloped reserves during 2014 included 121 mmboe in the Eagle Ford and 61 mmboe in the Bakken shale plays due to development drilling.", + "Transfers from proved undeveloped to proved developed reserves included 67 mmboe in the Eagle Ford, 26 mmboe in the Bakken and 1 mmboe in the Oklahoma Resource Basins due to development drilling and completions.", + "Costs incurred in 2014, 2013 and 2012 relating to the development of proved undeveloped reserves, were $3,149 million, $2,536 million and $1,995 million.", + "A total of 102 mmboe was booked as extensions, discoveries or other additions due to the application of reliable technology.", + "Technologies included statistical analysis of production performance, decline curve analysis, pressure and rate transient analysis, reservoir simulation and volumetric analysis.", + "The statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking proved reserves.", + "Projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete, or the timing of when additional gas compression is needed.", + "Of the 728 mmboe of proved undeveloped reserves at December 31, 2014, 19 percent of the volume is associated with projects that have been included in proved reserves for more than five years.", + "The majority of this volume is related to a compression project in E. G. that was sanctioned by our Board of Directors in 2004.", + "The timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels.", + "Performance of this field since the Board sanctioned the project has far exceeded expectations.", + "Estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010.", + "During 2012, the compression project received the approval of the E. G. government, allowing design and planning work to progress towards implementation, with completion expected by mid-2016.", + "The other component of Alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled in the second quarter of 2015.", + "Proved undeveloped reserves for the North Gialo development, located in the Libyan Sahara desert, were booked for the first time in 2010.", + "This development, which is anticipated to take more than five years to develop, is executed by the operator and encompasses a multi-year drilling program including the design, fabrication and installation of extensive liquid handling and gas recycling facilities.", + "Anecdotal evidence from similar development projects in the region lead to an expected project execution time frame of more than five years from the time the reserves were initially booked.", + "Interruptions associated with the civil unrest in 2011 and third-party labor strikes and civil unrest in 2013-2014 have also extended the project duration.", + "As of December 31, 2014, future development costs estimated to be required for the development of proved undeveloped crude oil and condensate, NGLs, natural gas and synthetic crude oil reserves related to continuing operations for the years 2015 through 2019 are projected to be $2,915 million, $2,598 million, $2,493 million, $2,669 million and $2,745 million." + ], + "question_id": "simplong-test-164", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Working capital, what's the increasing rate of Total assets?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part I Item 1 Entergy Corporation, Utility operating companies, and System Energy 253 including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017.", + "In October 2015, Entergy determined that it would close the Pilgrim plant.", + "The decision came after management\u2019s extensive analysis of the economics and operating life of the plant following the NRC\u2019s decision in September 2015 to place the plant in its \u201cmultiple/repetitive degraded cornerstone column\u201d (Column 4) of its Reactor Oversight Process Action Matrix.", + "The Pilgrim plant is expected to cease operations on May 31, 2019, after refueling in the spring of 2017 and operating through the end of that fuel cycle.", + "In December 2015, Entergy Wholesale Commodities closed on the sale of its 583 MW Rhode Island State Energy Center (RISEC), in Johnston, Rhode Island.", + "The base sales price, excluding adjustments, was approximately $490 million.", + "Entergy Wholesale Commodities purchased RISEC for $346 million in December 2011.", + "In December 2016, Entergy announced that it reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant on May 31, 2018.", + "Pursuant to the PPA termination agreement, Consumers Energy will pay Entergy $172 million for the early termination of the PPA.", + "The PPA termination agreement is subject to regulatory approvals.", + "Separately, and assuming regulatory approvals are obtained for the PPA termination agreement, Entergy intends to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle.", + "Entergy expects to enter into a new PPA with Consumers Energy under which the plant would continue to operate through October 1, 2018.", + "In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point\u2019s operating license renewal.", + "As part of the settlement, New York State has agreed to issue Indian Point\u2019s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC.", + "New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license.", + "The shutdowns are conditioned, among other things, upon such actions being taken by New York State.", + "Even without opposition, the NRC license renewal process is expected to continue at least into 2018.", + "With the settlement concerning Indian Point, Entergy now has announced plans for the disposition of all of the Entergy Wholesale Commodities nuclear power plants, including the sales of Vermont Yankee and FitzPatrick, and the earlier than previously expected shutdowns of Pilgrim, Palisades, Indian Point 2, and Indian Point 3.", + "See \u201cEntergy Wholesale Commodities Exit from the Merchant Power Business\u201d for further discussion.", + "Property Nuclear Generating Stations Entergy Wholesale Commodities includes the ownership of the following nuclear power plants:", + "|Power Plant|Market|In Service Year|Acquired|Location|Capacity - Reactor Type|License Expiration Date|\n|Pilgrim (a)|IS0-NE|1972|July 1999|Plymouth, MA|688 MW - Boiling Water|2032 (a)|\n|FitzPatrick (b)|NYISO|1975|Nov. 2000|Oswego, NY|838 MW - Boiling Water|2034 (b)|\n|Indian Point 3 (c)|NYISO|1976|Nov. 2000|Buchanan, NY|1,041 MW - Pressurized Water|2015 (c)|\n|Indian Point 2 (c)|NYISO|1974|Sept. 2001|Buchanan, NY|1,028 MW - Pressurized Water|2013 (c)|\n|Vermont Yankee (d)|IS0-NE|1972|July 2002|Vernon, VT|605 MW - Boiling Water|2032 (d)|\n|Palisades (e)|MISO|1971|Apr. 2007|Covert, MI|811 MW - Pressurized Water|2031 (e)|\n", + "|Consolidated Balance Sheet Data|At July 31,|\n|(In millions)|2014|2013|2012|2011|2010|\n|Cash, cash equivalents and investments|$1,914|$1,661|$744|$1,421|$1,622|\n|Long-term investments|31|83|75|63|91|\n|Working capital|1,200|1,116|258|449|1,074|\n|Total assets|5,201|5,486|4,684|5,110|5,198|\n|Current portion of long-term debt|\u2014|\u2014|\u2014|500|\u2014|\n|Long-term debt|499|499|499|499|998|\n|Other long-term obligations|203|167|166|175|143|\n|Total stockholders\u2019 equity|3,078|3,531|2,744|2,616|2,821|\n", + "ITEM 7 MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Our Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes the following sections: ?", + "Executive Overview that discusses at a high level our operating results and some of the trends that affect our business. ?", + "Critical Accounting Policies and Estimates that we believe are important to understanding the assumptions and judgments underlying our financial statements. ?", + "Results of Operations that includes a more detailed discussion of our revenue and expenses. ?", + "Liquidity and Capital Resources which discusses key aspects of our statements of cash flows, changes in our balance sheets and our financial commitments.", + "You should note that this MD&A discussion contains forward-looking statements that involve risks and uncertainties.", + "Please see the section entitled \u201cForward-Looking Statements and Risk Factors\u201d at the beginning of Item 1A for important information to consider when evaluating such statements.", + "You should read this MD&A in conjunction with the financial statements and related notes in Item 8 of this Annual Report.", + "In fiscal 2014 we acquired Check Inc. and in fiscal 2012 we acquired Demandforce, Inc. We have included their results of operations in our consolidated results of operations from the dates of acquisition.", + "In fiscal 2013 we completed the sale of our Intuit Websites business and in fiscal 2014 we completed the sales of our Intuit Financial Services (IFS) and Intuit Health businesses.", + "We accounted for all of these businesses as discontinued operations and have therefore reclassified our statements of operations for all periods presented to reflect them as such.", + "We have also reclassified our balance sheets for all periods presented to reflect IFS as discontinued operations.", + "The net assets of Intuit Websites and Intuit Health were not significant, so we have not reclassified our balance sheets for any period presented to reflect them as discontinued operations.", + "Because the cash flows of our Intuit Websites, IFS, and Intuit Health discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses from continuing operations on our statements of cash flows.", + "See \u201cResults of Operations \u2013 Non-Operating Income and Expense \u2013 Discontinued Operations\u201d later in this Item 7 for more information.", + "Unless otherwise noted, the following discussion pertains to our continuing operations.", + "Executive Overview This overview provides a high level discussion of our operating results and some of the trends that affect our business.", + "We believe that an understanding of these trends is important in order to understand our financial results for fiscal 2014 as well as our future prospects.", + "This summary is not intended to be exhaustive, nor is it intended to be a substitute for the detailed discussion and analysis provided elsewhere in this Annual Report on Form 10-K.", + "See the table later in this Note 7 for more information on the IFS operating results.", + "The carrying amounts of the major classes of assets and liabilities of IFS at July 31, 2013 were as shown in the following table.", + "These carrying amounts approximated fair value.", + "|(In millions)|July 31, 2013|\n|Accounts receivable|$40|\n|Other current assets|4|\n|Property and equipment, net|31|\n|Goodwill|914|\n|Purchased intangible assets, net|4|\n|Other assets|6|\n|Total assets|999|\n|Accounts payable|15|\n|Accrued compensation|21|\n|Deferred revenue|3|\n|Long-term obligations|9|\n|Total liabilities|48|\n|Net assets|$951|\n", + "Intuit Health In July 2013 management having the authority to do so formally approved a plan to sell our Intuit Health business and on August 19, 2013 we completed the sale for cash consideration that was not significant.", + "We recorded a $4 million pre-tax loss on the disposal of Intuit Health that was more than offset by a related income tax benefit of approximately $14 million, resulting in a net gain on disposal of approximately $10 million in the first quarter of fiscal 2014.", + "The decision to sell the Intuit Health business was a result of management's desire to focus resources on its offerings for small businesses, consumers, and accounting professionals.", + "Intuit Health was part of our former Other Businesses reportable segment.", + "We determined that our Intuit Health business became a long-lived asset held for sale in the fourth quarter of fiscal 2013.", + "A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell.", + "Since the carrying value of Intuit Health at July 31, 2013 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date.", + "We also classified our Intuit Health business as discontinued operations in the fourth quarter of fiscal 2013 and have segregated its operating results in our statements of operations for all periods presented.", + "See the table later in this Note for more information.", + "We have not segregated the net assets of Intuit Health on our balance sheets for any period presented.", + "Net assets held for sale at July 31, 2013 consisted primarily of operating assets and liabilities that were not material.", + "Because operating cash flows from the Intuit Health business were also not material for any period presented, we have not segregated them from continuing operations on our statements of cash flows.", + "Intuit Websites In July 2012 management having the authority to do so formally approved a plan to sell our Intuit Websites business, which was a component of our Small Business reportable segment.", + "The decision was the result of a shift in our strategy for helping small businesses to establish an online presence.", + "On August 10, 2012 we signed a definitive agreement to sell our Intuit Websites business and on September 17, 2012 we completed the sale for approximately $60 million in cash.", + "We recorded a gain on disposal of approximately $32 million, net of income taxes.", + "We determined that our Intuit Websites business became a long-lived asset held for sale in the fourth quarter of fiscal 2012.", + "A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell.", + "Since the carrying value of Intuit Websites at July 31, 2012 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date." + ], + "question_id": "simplong-test-165", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Other assets, including investment in TradeHelm, and Compensation expense of Year Ended December 31, 2005 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) (in thousands, except share and per share amounts) Had compensation expense for employee stock-based awards been determined based on the fair value at grant date consistent with SFAS No.123(R), the Company\u2019s Net income (loss) for the year would have been increased or decreased to the pro forma amounts indicated below:", + "||Year Ended December 31,|\n|| 2005| 2004|2003|\n|Net income||||\n|As reported|$8,142|$57,587|$4,212|\n|Compensation expense|1,366|1,965|1,646|\n|Pro forma|$6,776|$55,622|$2,566|\n|Basic net income (loss) per common share|$0.29|$6.76|$-2.20|\n|Diluted net income (loss) per common share|$0.23|$1.88|$-2.20|\n|Basic net income (loss) per common share \u2014 pro forma|$0.24|$6.48|$-2.70|\n|Diluted net income (loss) per common share \u2014 pro forma|$0.19|$1.82|$-2.70|\n", + "Basic and diluted earnings per share (\u201cEPS\u201d) in 2003 includes the effect of dividends accrued on our redeemable convertible preferred stock.", + "In 2003, securities that could potentially dilute basic EPS in the future were not included in the computation of diluted EPS, because to do so would have been anti-dilutive.", + "See Note 12, \u201cEarnings Per Share\u201d.", + "Revenue Recognition The majority of the Company\u2019s revenues are derived from commissions for trades executed on the electronic trading platform that are billed to its broker-dealer clients on a monthly basis.", + "The Company also derives revenues from information and user access fees, license fees, interest and other income.", + "Commissions are generally calculated as a percentage of the notional dollar volume of bonds traded on the electronic trading platform and vary based on the type and maturity of the bond traded.", + "Under the transaction fee plans, bonds that are more actively traded or that have shorter maturities are generally charged lower commissions, while bonds that are less actively traded or that have longer maturities generally command higher commissions.", + "Commissions are recorded on a trade date basis.", + "The Company\u2019s standard fee schedule for U. S. high-grade corporate bonds was revised in August 2003 to provide lower average transaction commissions for dealers who transacted higher U. S. high-grade volumes through the platform, while at the same time providing an element of fixed commissions over the two-year term of the plans.", + "One of the revised plans that was suited for the Company\u2019s most active broker-dealer clients included a fee cap that limited the potential growth in U. S. high-grade revenue.", + "The fee caps were set to take effect at volume levels significantly above those being transacted at the time the revised transaction fee plans were introduced.", + "Most broker-dealer clients entered into fee arrangements with respect to the trading of U. S. high-grade corporate bonds that included both a fixed component and a variable component.", + "These agreements had been scheduled to expire during the third quarter of 2005.", + "On June 1, 2005, the Company introduced a new fee plan primarily for secondary market transactions in U. S. high-grade corporate bonds executed on its electronic trading platform.", + "As of December 31, 2005, 17 of the Company\u2019s U. S. high-grade broker-dealer clients have signed new two-year agreements that supersede the fee arrangements that were entered into with many of its broker-dealer clients during the third quarter of 2003.", + "The new plan incorporates higher fixed monthly fees and lower variable fees for broker\u0002dealer clients than the previous U. S. high-grade corporate transaction fee plans described above, and incorporates volume incentives to broker-dealer clients that are designed to increase the volume of transactions effected on the Company\u2019s", + "The U. S. high-grade average variable transaction fee per million increased from $84 per million for the year ended December 31, 2007 to $121 per million for the year ended December 31, 2008 due to the longer maturity of trades executed on the platform, for which we charge higher commissions.", + "The Eurobond average variable transaction fee per million decreased from $138 per million for the year ended December 31, 2007 to $112 per million for the year ended December 31, 2008, principally from the introduction of the new European high-grade fee plan.", + "Other average variable transaction fee per million increased from $121 per million for the year ended December 31, 2007 to $158 per million for the year ended December 31, 2008 primarily due to a higher percentage of volume in products that carry higher fees per million, principally high-yield.", + "Technology Products and Services.", + "Technology products and services revenues increased by $7.8 million to $8.6 million for the year ended December 31, 2008 from $0.7 million for the year ended December 31, 2007.", + "The increase was primarily a result of the Greenline acquisition.", + "Information and User Access Fees.", + "Information and user access fees increased by $0.1 million or 2.5% to $6.0 million for the year ended December 31, 2008 from $5.9 million for the year ended December 31, 2007.", + "Investment Income.", + "Investment income decreased by $1.8 million or 33.7% to $3.5 million for the year ended December 31, 2008 from $5.2 million for the year ended December 31, 2007.", + "This decrease was primarily due to lower interest rates.", + "Other.", + "Other revenues decreased by $0.1 million or 4.4% to $1.5 million for the year ended December 31, 2008 from $1.6 million for the year ended December 31, 2007.", + "Expenses Our expenses for the years ended December 31, 2008 and 2007, and the resulting dollar and percentage changes, were as follows:", + "||Year Ended December 31,|\n||2008|2007|||\n|||% of||% of|$|%|\n|| $|Revenues| $|Revenues|Change|Change|\n||($ in thousands)|\n| Expenses|||||||\n|Employee compensation and benefits|$43,810|47.1%|$43,051|46.0%|$759|1.8%|\n|Depreciation and amortization|7,879|8.5|7,170|7.7|709|9.9|\n|Technology and communications|8,311|8.9|7,463|8.0|848|11.4|\n|Professional and consulting fees|8,171|8.8|7,639|8.2|532|7.0|\n|Occupancy|2,891|3.1|3,275|3.5|-384|-11.7|\n|Marketing and advertising|3,032|3.3|1,905|2.0|1,127|59.2|\n|General and administrative|6,157|6.6|5,889|6.3|268|4.6|\n|Total expenses|$80,251|86.2%|$76,392|81.6%|$3,859|5.1%|\n", + "$43.8 million for the year ended December 31, 2008 from $43.1 million for the year ended December 31, 2007.", + "This increase was primarily attributable to higher wages of $2.4 million, severance costs of $1.0 million and stock\u0002based compensation expense of $1.4 million, offset by reduced incentive compensation of $3.6 million.", + "The higher wages were primarily a result of the Greenline acquisition.", + "The total number of employees increased to 185 as of December 31, 2008 from 182 as of December 31, 2007.", + "As a percentage of total revenues, employee compensation and benefits expense increased to 47.1% for the year ended December 31, 2008 from 46.0% for the year ended December 31, 2007.", + "Depreciation and Amortization.", + "Depreciation and amortization expense increased by $0.7 million or 9.9% to $7.9 million for the year ended December 31, 2008 from $7.2 million for the year ended December 31, 2007.", + "An increase in amortization of intangible assets of $1.3 million and the TWS impairment charge of $0.7 million were offset by a decline in depreciation and amortization of hardware and software development costs of $1.3 million.", + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) of this standard had no material effect on the Company\u2019s Consolidated Statements of Financial Condition and Consolidated Statements of Operations.", + "Reclassifications Certain reclassifications have been made to the prior years\u2019 financial statements in order to conform to the current year presentation.", + "Such reclassifications had no effect on previously reported net income.", + "On March 5, 2008, the Company acquired all of the outstanding capital stock of Greenline Financial Technologies, Inc. (\u201cGreenline\u201d), an Illinois-based provider of integration, testing and management solutions for FIX-related products and services designed to optimize electronic trading of fixed-income, equity and other exchange-based products, and approximately ten percent of the outstanding capital stock of TradeHelm, Inc. , a Delaware corporation that was spun-out from Greenline immediately prior to the acquisition.", + "The acquisition of Greenline broadens the range of technology services that the Company offers to institutional financial markets, provides an expansion of the Company\u2019s client base, including global exchanges and hedge funds, and further diversifies the Company\u2019s revenues beyond the core electronic credit trading products.", + "The results of operations of Greenline are included in the Consolidated Financial Statements from the date of the acquisition.", + "The aggregate consideration for the Greenline acquisition was $41.1 million, comprised of $34.7 million in cash, 725,923 shares of common stock valued at $5.8 million and $0.6 million of acquisition-related costs.", + "In addition, the sellers were eligible to receive up to an aggregate of $3.0 million in cash, subject to Greenline attaining certain earn\u0002out targets in 2008 and 2009.", + "A total of $1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target, bringing the aggregate consideration to $42.4 million.", + "The 2009 earn-out target was not met.", + "A total of $2.0 million of the purchase price, which had been deposited into escrow accounts to satisfy potential indemnity claims, was distributed to the sellers in March 2009.", + "The shares of common stock issued to each selling shareholder of Greenline were released in two equal installments on December 20, 2008 and December 20, 2009, respectively.", + "The value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period.", + "The purchase price allocation is as follows (in thousands):", + "|Cash|$6,406|\n|Accounts receivable|2,139|\n|Amortizable intangibles|8,330|\n|Goodwill|29,405|\n|Deferred tax assets, net|3,410|\n|Other assets, including investment in TradeHelm|1,429|\n|Accounts payable, accrued expenses and deferred revenue|-8,701|\n|Total purchase price|$42,418|\n", + "The amortizable intangibles include $3.2 million of acquired technology, $3.3 million of customer relationships, $1.3 million of non-competition agreements and $0.5 million of tradenames.", + "Useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles, respectively.", + "The identifiable intangible assets and goodwill are not deductible for tax purposes.", + "The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the years ended December 31, 2008 and 2007, as if the acquisition of Greenline had occurred as of the beginning of the period presented, after giving effect to certain purchase accounting adjustments.", + "These pro forma results are not necessarily indicative of what the Company\u2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented.", + "The pro forma financial information" + ], + "question_id": "simplong-test-166", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the sum of U.S. without those U.S. smaller than 15 in 2018 for Pension Benefits? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||2009|2008|\n| E&P Operating Statistics|||\n|Average Realizations(d)|||\n|Liquid Hydrocarbons (per bbl)|||\n|United States|$54.67|$86.68|\n|Europe|64.46|90.60|\n|Africa|53.91|89.85|\n|Total International|59.31|90.14|\n|Worldwide Continuing Operations|58.09|89.07|\n|Discontinued Operations(b)|56.47|96.41|\n|Worldwide|$58.06|$89.29|\n|Natural Gas (per mcf)|||\n|United States|$4.14|$7.01|\n|Europe|4.90|7.67|\n|Africa|0.25|0.25|\n|Total International|1.38|2.50|\n|Worldwide Continuing Operations|2.47|4.56|\n|Discontinued Operations(b)|8.54|9.62|\n|Worldwide|$2.58|$4.75|\n", + "(a) Includes crude oil, condensate and natural gas liquids.", + "The amounts correspond with the basis for fiscal settlements with governments, representing equity tanker liftings and direct deliveries of liquid hydrocarbons.", + "(b) Our businesses in Ireland and Gabon were sold in 2009.", + "All periods have been recast to reflect these businesses as discontinued operations.", + "(c) Includes natural gas acquired for injection and subsequent resale of 22 mmcfd and 32 mmcfd in 2009 and 2008.", + "(d) Excludes gains and losses on derivative instruments and the unrealized effects of U. K. natural gas contracts that are accounted for as derivatives.", + "E&P segment revenues included derivative losses of $13 million in 2009 and gains of $22 million in 2008.", + "Excluded from E&P segment revenues were gains of $72 million in 2009 and $218 million in 2008 related to natural gas sales contracts in the U. K. that were accounted for as derivative instruments.", + "These U. K contracts expired in September 2009.", + "OSM segment revenues decreased $455 million from 2008 to 2009.", + "Revenues were impacted by net gains of $12 million in 2009 and $48 million in 2008 on derivative instruments, which expired December 2009.", + "Excluding the derivatives, the decrease in revenue reflects the almost 40 percent decline in synthetic crude oil realizations.", + "Synthetic crude oil sales volumes were consistent between the years.", + "RM&T segment revenues decreased $18,951 million from 2008 to 2009 matching relative price level changes.", + "While our overall refined product sales volumes in 2009 were relatively unchanged compared to 2008, the level of average petroleum prices declined significantly as shown in Item 1.", + "Business\u2014Refining, Marketing and Transportation.", + "The level of crude oil prices has a direct influence on our refined product prices.", + "The table below shows the average annual refined product benchmark prices for our marketing area.", + "|(Dollars per gallon)|2009|2008|\n|Chicago Spot Unleaded regular gasoline|$1.68|$2.50|\n|Chicago Spot Ultra-low sulfur diesel|$1.66|$2.95|\n|U.S. Gulf Coast Spot Unleaded regular gasoline|$1.64|$2.48|\n|U.S. Gulf Coast Spot Ultra-low sulfur diesel|$1.66|$2.93|\n", + "Sales to related parties decreased in 2009 as a result of the sale of our interest in Pilot Travel Centers LLC (\u201cPTC\u201d) during the fourth quarter of 2008.", + "Income from equity method investments decreased $467 million in 2009 from 2008 primarily as the result of lower commodity prices on the earnings of many of our equity investees in 2009 and the sale of our equity method investment in PTC during the fourth quarter of 2008.", + "Net gain on disposal of assets in 2009 includes our gain on the sale of our operated and a portion of our outside-operated Permian Basin producing assets in New Mexico and west Texas, plus sales of other oil and gas properties and retail stores.", + "In 2008, we sold our outside-operated interests (24 percent of Heimdal field, 47 percent", + "MARATHON OIL CORPORATIONNotes to Consolidated Financial Statements90Stock-based performance unit awards \u2013 During 2018, 2017 and 2016 we granted 754,140, 563,631 and 1,205,517 stock\u0002based performance unit awards to officers.", + "At December 31, 2018, there were 1,196,176 units outstanding.", + "Total stock-based performance unit awards expense was $13 million in 2018, $8 million in 2017 and $6 million in 2016.", + "The key assumptions used in the Monte Carlo simulation to determine the fair value of stock-based performance units granted in 2018, 2017 and 2016 were:", + "||2018|2017|2016|\n|Valuation date stock price|$14.17|$14.17|$14.17|\n|Expected annual dividend yield|1.4%|1.4%|1.4%|\n|Expected volatility|39%|43%|52%|\n|Risk-free interest rate|2.5%|2.6%|2.4%|\n|Fair value of stock-based performance units outstanding|$19.60|$19.45|$21.51|\n", + "18.", + "Defined Benefit Postretirement Plans and Defined Contribution PlanWe have noncontributory defined benefit pension plans covering substantially all domestic employees, as well as U. K. employees who were hired before April 2010.", + "Certain employees located in E. G. , who are U. S. or U. K. based, also participate in these plans.", + "Benefits under these plans are based on plan provisions specific to each plan.", + "For the U. K. pension plan, the principal employer and plan trustees reached a decision to close the plan to future benefit accruals effective December 31, 2015.", + "We also have defined benefit plans for other postretirement benefits covering our U. S. employees.", + "Health care benefits are provided up to age 65 through comprehensive hospital, surgical and major medical benefit provisions subject to various cost\u0002sharing features.", + "Post-age 65 health care benefits are provided to certain U. S. employees on a defined contribution basis.", + "Life insurance benefits are provided to certain retiree beneficiaries.", + "These other postretirement benefits are not funded in advance.", + "Employees hired after 2016 are not eligible for any postretirement health care or life insurance benefits.", + "MARATHON OIL CORPORATION Notes to Consolidated Financial Statements 92 Components of net periodic benefit cost from continuing operations and other comprehensive (income) loss \u2013 The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive (income) loss for our defined benefit pension and other postretirement plans", + "||Pension Benefits Year Ended December 31,|Other Benefits Year Ended December 31,|\n||2018|2017|2016|2018|2017|2016|\n|(In millions)|U.S.|Int\u2019l|U.S.|Int\u2019l|U.S.|Int\u2019l|U.S.|U.S.|U.S.|\n|Components of net periodic benefit cost:||||||||||\n|Service cost|$18|$\u2014|$22|$\u2014|$25|$\u2014|$2|$2|$2|\n|Interest cost|12|14|13|17|16|23|7|8|11|\n|Expected return on plan assets|-11|-24|-13|-30|-18|-35|\u2014|\u2014|\u2014|\n|Amortization:||||||||||\n|- prior service cost (credit)|-10|\u2014|-10|\u2014|-10|1|-8|-7|-3|\n|- actuarial loss|11|\u2014|8|1|14|\u2014|1|\u2014|\u2014|\n|Net settlement loss(a)|18|3|28|4|97|6|\u2014|\u2014|\u2014|\n|Net periodic benefit cost(b)|$38|$-7|$48|$-8|$124|$-5|$2|$3|$10|\n|Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss (pretax):||||||||||\n|Actuarial loss (gain)|$-4|$8|$28|$-26|$70|$41|$-15|$5|$11|\n|Amortization of actuarial gain (loss)|-29|-3|-36|-4|-111|-6|-1|\u2014|\u2014|\n|Prior service cost (credit)|\u2014|3|\u2014|\u2014|\u2014|1|-99|\u2014|-38|\n|Amortization of prior service credit (cost)|10|\u2014|10|\u2014|10|-1|8|7|3|\n|Total recognized in other comprehensive (income) loss|$-23|$8|$2|$-30|$-31|$35|$-107|$12|$-24|\n|Total recognized in net periodic benefit cost and other comprehensive (income) loss|$15|$1|$50|$-38|$93|$30|$-105|$15|$-14|\n", + "(a) Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan\u2019s total service and interest costs for that year.", + "(b) Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.", + "The estimated net loss and prior service credit for our defined benefit pension plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2019 are $7 million and $7 million.", + "The estimated net loss and prior service credit for our other defined benefit postretirement plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2019 are $1 million and $18 million.", + "Plan assumptions \u2013 The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2018, 2017 and 2016." + ], + "question_id": "simplong-test-167", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of the Restricted stock units in the years where Junior subordinated notes due 2066 for Outstanding Balance December 31, is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "rates and accrued interest thereon.", + "On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates.", + "Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves.", + "The Company generally invests the proceeds from investment certificates in fixed and variable rate securities.", + "The Company may hedge the interest rate risks under these obligations with derivative instruments.", + "As of December 31, 2009 and 2008, there were no outstanding derivatives to hedge these interest rate risks.", + "Certain investment certificate products have returns tied to the performance of equity markets.", + "The Company guarantees the principal for purchasers who hold the certificate for the full 52-week term and purchasers may participate in increases in the stock market based on the S&P 500 Index, up to a maximum return.", + "Purchasers can choose 100% participation in the market index up to the cap or 25% participation plus fixed interest with a combined total up to the cap.", + "Current first term certificates have maximum returns of 4% or 5%.", + "The equity component of these certificates is considered an embedded derivative and is accounted for separately.", + "The change in fair values of the embedded derivative reserve is reflected in banking and deposit interest expense.", + "See Note 20 for additional information about derivative instruments used to economically hedge the equity price risk related to the Company\u2019s stock market certificates.14.", + "Debt Debt and the stated interest rates were as follows:", + "| | Outstanding Balance December 31,| Stated Interest Rate December 31,|\n| | 2009| 2008|2009| 2008|\n| | (in millions) |\n|Senior notes due 2010|$340|$800|5.4%|5.4%|\n|Senior notes due 2015|700|700|5.7|5.7|\n|Senior notes due 2019|300|\u2014|7.3|\u2014|\n|Senior notes due 2039|200|\u2014|7.8|\u2014|\n|Junior subordinated notes due 2066|322|457|7.5|7.5|\n|Floating rate revolving credit borrowings due 2013|142|64|4.1|3.6|\n|Floating rate revolving credit borrowings due 2014|198|\u2014|5.9|\u2014|\n|Floating rate revolving credit borrowings due 2014|41|\u2014|2.5|\u2014|\n|Municipal bond inverse floater certificates due 2021|6|6|0.3|2.2|\n|Total|$2,249|$2,027|||\n", + "On November 23, 2005, the Company issued $1.5 billion of unsecured senior notes including $800 million of five-year senior notes which mature November 15, 2010 and $700 million of 10-year senior notes which mature November 15, 2015, and incurred debt issuance costs of $7 million.", + "Interest payments are due semi-annually on May 15 and November 15.", + "In July 2009, the Company purchased $450 million aggregate principal amount of its senior notes due 2010, pursuant to a cash tender offer.", + "The tender offer consideration per $1,000 principal amount of these notes accepted for purchase was $1,000, with an early tender payment of $30.", + "Payments for these notes purchased pursuant to the tender offer included accrued and unpaid interest from the last interest payment date to, but not including, the settlement date.", + "The Company also repurchased $10 million of these notes in the second quarter of 2009 in open market transactions.", + "On June 8, 2009, the Company issued $300 million of unsecured senior notes which mature June 28, 2019, and incurred debt issuance costs of $3 million.", + "Interest payments are due semi-annually in arrears on June 28 and December 28.", + "On June 3, 2009, the Company issued $200 million of unsecured senior notes which mature June 15, 2039, and incurred debt issuance costs of $6 million.", + "Interest payments are due quarterly in arrears on March 15, June 15, September 15 and December 15.", + "In June 2005, the Company entered into interest rate swap agreements totaling $1.5 billion, which qualified as cash flow hedges related to planned debt offerings.", + "The Company terminated the swap agreements in November 2005 when the senior notes due 2010 and 2015 were issued.", + "The related gain on the swap agreements of $71 million was recorded to accumulated other comprehensive income (loss) and is being amortized as a reduction to interest expense over the period in which the hedged cash flows are expected to occur.", + "Considering the", + "The components of the Company\u2019s share-based compensation expense, net of forfeitures, were as follows:", + "| | Years Ended December 31,|\n| | 2009| 2008| 2007|\n| | (in millions) |\n|Stock options|$53|$40|$37|\n|Restricted stock awards|59|57|52|\n|Restricted stock units|70|51|54|\n|Total|$182|$148|$143|\n", + "For the years ended December 31, 2009, 2008 and 2007, the total income tax benefit recognized by the Company related to the share\u0002based compensation expense was $64 million, $52 million and $50 million, respectively.", + "As of December 31, 2009, there was $158 million of total unrecognized compensation cost related to non-vested awards under the Company\u2019s share-based compensation plans.", + "That cost is expected to be recognized over a weighted-average period of 2.5 years.", + "Amended and Restated Ameriprise Financial 2005 Incentive Compensation Plan The 2005 ICP, which was amended and approved by shareholders on April 25, 2007, provides for the grant of cash and equity incentive awards to directors, employees and independent contractors, including stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance shares and similar awards designed to comply with the applicable federal regulations and laws of jurisdiction.", + "Under the 2005 ICP, a maximum of 37.9 million shares may be issued.", + "Of this total, no more than 4.4 million shares may be issued after April 25, 2007 for full value awards, which are awards other than stock options and stock appreciation rights.", + "Shares issued under the 2005 ICP may be authorized and unissued shares or treasury shares.", + "Deferred Compensation Plan The Deferred Compensation Plan (\u2018\u2018DCP\u2019\u2019) gives certain employees the choice to defer a portion of their bonus, which can be invested in investment options as provided by the DCP, including the Ameriprise Financial Stock Fund.", + "The Company provides a match if the participant deferrals are invested in the Ameriprise Financial Stock Fund.", + "Participant deferrals vest immediately and the Company match vests after three years.", + "Distributions are made in shares of the Company\u2019s common stock for the portion of the deferral invested in the Ameriprise Financial Stock Fund and the related Company match, for which the Company has recorded in equity.", + "The DCP does allow for accelerated vesting of the share-based awards in cases of death, disability and qualified retirement.", + "Compensation expense related to the Company match is recognized on a straight-line basis over the vesting period.", + "Ameriprise Financial 2008 Employment Incentive Equity Award Plan The 2008 Plan is designed to align new employees\u2019 interests with those of the shareholders of the Company and attract and retain new employees.", + "The 2008 Plan provides for the grant of equity incentive awards to new employees who became employees in connection with a merger or acquisition, including stock options, restricted stock awards, restricted stock units, and other equity-based awards designed to comply with the applicable federal and foreign regulations and laws of jurisdiction.", + "Under the 2008 Plan, a maximum of 6.0 million shares may be issued.", + "Awards granted under the 2008 Plan may be settled in cash and/or shares of the Company\u2019s common stock according to the award\u2019s terms.", + "Stock Options Stock options granted have an exercise price not less than 100% of the current fair market value of a share of the Company\u2019s common stock on the grant date and a maximum term of 10 years.", + "Stock options granted generally vest ratably over three to four years.", + "Vesting of option awards may be accelerated based on age and length of service.", + "Stock options granted are expensed on a straight-line basis over the option vesting period based on the estimated fair value of the awards on the date of grant using a Black-Scholes option-pricing model.", + "Net revenues increased $3 million compared to the prior year.", + "Net investment loss for the year ended December 31, 2009 reflects the transfer priced interest income allocated to the Annuities and Protection segments for maintaining excess liquidity and the period-over-period decline in short-term interest rates.", + "The increase in other revenues compared to the prior year was due to a $58 million gain on the repurchase of $135 million of our junior notes in 2009 compared to a gain of $19 million on the repurchase of $43 million of our junior notes in 2008.", + "Total expenses decreased $96 million, or 26%, to $267 million for the year ended December 31, 2009.", + "Interest and debt expense for the year ended December 31, 2009 included a $13 million expense related to the early retirement of $450 million of our 5.35% senior notes due 2010.", + "General and administrative expense decreased $116 million, or 46%, compared to the prior year due to money market support costs incurred in 2008, including $77 million related to the mark-to-market of Lehman Brothers securities that we purchased from various 2a-7 money market mutual funds managed by our subsidiary, RiverSource Investments, LLC and $36 million for the cost of guaranteeing specific client holdings in an unaffiliated money market mutual fund, and $60 million in restructuring charges in 2008, partially offset by higher performance compensation accruals and legal expenses in 2009.", + "Consolidated Results of Operations Year Ended December 31, 2008 Compared to Year Ended December 31, 2007 The following table presents our consolidated results of operations:", + "| |Years Ended December 31,|||\n| |2008|2007|Change|\n| |(in millions, except percentages)|\n| Revenues|||||\n|Management and financial advice fees|$2,899|$3,238|$-339|-10%|\n|Distribution fees|1,565|1,762|-197|-11|\n|Net investment income|817|2,014|-1,197|-59|\n|Premiums|1,048|1,017|31|3|\n|Other revenues|766|724|42|6|\n|Total revenues|7,095|8,755|-1,660|-19|\n|Banking and deposit interest expense|179|249|-70|-28|\n|Total net revenues|6,916|8,506|-1,590|-19|\n| Expenses|||||\n|Distribution expenses|1,912|2,011|-99|-5|\n|Interest credited to fixed accounts|790|847|-57|-7|\n|Benefits, claims, losses and settlement expenses|1,125|1,179|-54|-5|\n|Amortization of deferred acquisition costs|933|551|382|69|\n|Interest and debt expense|109|112|-3|-3|\n|Separation costs|\u2014|236|-236|-100|\n|General and administrative expense|2,472|2,562|-90|-4|\n|Total expenses|7,341|7,498|-157|-2|\n|Pretax income (loss)|-425|1,008|-1,433|NM|\n|Income tax provision (benefit)|-333|202|-535|NM|\n|Net income (loss)|-92|806|-898|NM|\n|Less: Net loss attributable to noncontrolling interests|-54|-8|-46|NM|\n|Net income (loss) attributable to Ameriprise Financial|$-38|$814|$-852|NM|\n", + "MASCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 62 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:" + ], + "question_id": "simplong-test-168", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Structured notes and Total long-term unsecured funding in 2016? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s discussion and analysis 80 JPMorgan Chase & Co. /2016 Annual Report The Firm\u2019s Fully Phased-In GSIB surcharge for 2016 was calculated to be 2.5% under Method 1 and 4.5% under Method 2.", + "Accordingly, the Firm\u2019s minimum capital ratios applicable in 2016 include a GSIB surcharge of 1.125%, resulting from the application of the transition provisions to the 4.5% fully phased-in GSIB surcharge.", + "For 2017, the Firm has calculated its Fully Phased-In GSIB surcharge to be 2.5% under Method 1 and 3.5% under Method 2 resulting in the inclusion of a GSIB surcharge of 1.75% in the Firm\u2019s minimum capital ratios after application of the transition provisions.", + "The countercyclical capital buffer takes into account the macro financial environment in which large, internationally active banks function.", + "On September 8, 2016 the Federal Reserve published the framework that will apply to the setting of the countercyclical capital buffer.", + "As of October 24, 2016 the Federal Reserve reaffirmed setting the U. S. countercyclical capital buffer at 0%, and stated that it will review the amount at least annually.", + "The countercyclical capital buffer can be increased if the Federal Reserve, FDIC and OCC determine that credit growth in the economy has become excessive and can be set at up to an additional 2.5% of RWA subject to a 12-month implementation period.", + "Based on the Firm\u2019s most recent estimate of its GSIB surcharge and the current countercyclical buffer being set at 0%, the Firm estimates its Fully Phased-In CET1 capital requirement, at January 1, 2019, would be 10.5% (reflecting the 4.5% CET1 capital requirement, the Fully Phased-In 2.5% capital conservation buffer and the GSIB surcharge of 3.5%).", + "As well as meeting the capital ratio requirements of Basel III, the Firm must, in order to be \u201cwell-capitalized\u201d, maintain a minimum 6% Tier 1 capital and a 10% Total capital requirement.", + "At December 31, 2016 and 2015, JPMorgan Chase maintained Basel III Standardized Transitional and Basel III Advanced Transitional ratios in excess of the well-capitalized standards established by the Federal Reserve.", + "The Firm continues to believe that over the next several years, it will operate with a Basel III CET1 capital ratio between 11% and 12.5%.", + "It is the Firm\u2019s intention that the Firm\u2019s capital ratios continue to meet regulatory minimums as they are fully implemented in 2019 and thereafter.", + "Each of the Firm\u2019s IDI subsidiaries must maintain a minimum 6.5% CET1, 8% Tier 1 capital, 10% Total capital and 5% Tier 1 leverage requirement to meet the definition of \u201cwell-capitalized\u201d under the Prompt Corrective Action (\u201cPCA\u201d) requirements of the FDIC Improvement Act (\u201cFDICIA\u201d) for IDI subsidiaries.", + "Capital A reconciliation of total stockholders\u2019 equity to Basel III Fully Phased-In CET1 capital, Tier 1 capital and Basel III Advanced and Standardized Fully Phased-In Total capital is presented in the table below.", + "For additional information on the components of regulatory capital, see Note 28.", + "|(in millions)|December 31, 2016|\n|Total stockholders\u2019 equity|$254,190|\n|Less: Preferred stock|26,068|\n|Common stockholders\u2019 equity|228,122|\n|Less:||\n|Goodwill|47,288|\n|Other intangible assets|862|\n|Add:||\n|Deferred tax liabilities(a)|3,230|\n|Less: Other CET1 capital adjustments|1,468|\n|Standardized/Advanced CET1 capital|181,734|\n|Preferred stock|26,068|\n|Less:||\n|Other Tier 1 adjustments(b)|328|\n|Standardized/Advanced Tier 1 capital|$207,474|\n|Long-term debt and other instruments qualifying asTier 2 capital|$15,253|\n|Qualifying allowance for credit losses|14,854|\n|Other|-94|\n|Standardized Fully Phased-In Tier 2 capital|$30,013|\n|Standardized Fully Phased-in Total capital|$237,487|\n|Adjustment in qualifying allowance for credit losses for Advanced Tier 2 capital|-10,961|\n|Advanced Fully Phased-In Tier 2 capital|$19,052|\n|Advanced Fully Phased-In Total capital|$226,526|\n", + "(a) Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in nontaxable transactions, which are netted against goodwill and other intangibles when calculating TCE.", + "(b) Includes the deduction associated with the permissible holdings of covered funds (as defined by the Volcker Rule) acquired after December 31, 2013.", + "The deduction was not material as of December 31, 2016.", + "risk in the derivatives portfolio.", + "In addition, the Firm\u2019s 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\u2019s exposure to a counterparty (AVG) and the counterparty\u2019s 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\u2019s 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\u2019s current derivatives portfolio over the next 10 years as calculated by the Peak, DRE and AVG metrics.", + "The three measures generally show that exposure will decline after the first year, if no new trades are added to the portfolio.", + "Exposure profile of derivatives measures December 31, 2016 (in billions)", + "|Rating equivalent|2016|2015(a)|\n|December 31,(in millions, except ratios)|Exposure net of all collateral|% of exposure netof all collateral|Exposure net of all collateral|% of exposure netof all collateral|\n|AAA/Aaa to AA-/Aa3|$11,449|28%|$10,371|24%|\n|A+/A1 to A-/A3|8,505|20|10,595|25|\n|BBB+/Baa1 to BBB-/Baa3|13,127|32|13,807|32|\n|BB+/Ba1 to B-/B3|7,308|18|7,500|17|\n|CCC+/Caa1 and below|984|2|824|2|\n|Total|$41,373|100%|$43,097|100%|\n", + "The following table summarizes the ratings profile by derivative counterparty of the Firm\u2019s derivative receivables, including credit derivatives, net of all collateral, at the dates indicated.", + "The ratings scale is based on the Firm\u2019s internal ratings, which generally correspond to the ratings as defined by S&P and Moody\u2019s.", + "Ratings profile of derivative receivables", + "(a) Prior period amounts have been revised to conform with the current period presentation.", + "As previously noted, the Firm uses collateral agreements to mitigate counterparty credit risk.", + "The percentage of the Firm\u2019s derivatives transactions subject to collateral agreements \u2014 excluding foreign exchange spot trades, which are not typically covered by collateral agreements due to their short maturity \u2014 was 90% as of December 31, 2016, largely unchanged compared with 87% as of December 31, 2015. Credit derivatives The Firm uses credit derivatives for two primary purposes: first, in its capacity as a market-maker, and second, as an end-user to manage the Firm\u2019s own credit risk associated with various exposures.", + "For a detailed description of credit derivatives, see Credit derivatives in Note 6. Credit portfolio management activities Included in the Firm\u2019s end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities (loans and unfunded commitments) and derivatives counterparty exposure in the Firm\u2019s wholesale businesses (collectively, \u201ccredit portfolio management\u201d activities).", + "Information on credit portfolio management activities is provided in the table below.", + "For further information on derivatives used in credit portfolio management activities, see Credit derivatives in Note 6.", + "The Firm also uses credit derivatives as an end-user to manage other exposures, including credit risk arising from certain securities held in the Firm\u2019s market-making businesses.", + "These credit derivatives are not included in credit portfolio management activities; for further information on these credit derivatives as well as credit derivatives used in the Firm\u2019s capacity as a market-maker in credit derivatives, see Credit derivatives in Note 6.", + "The following table summarizes short-term and long-term funding, excluding deposits, as of December 31, 2016 and 2015, and average balances for the years ended December 31, 2016 and 2015.", + "For additional information, see the Consolidated Balance Sheet Analysis on pages 43\u201344 and Note 21.", + "Sources of funds (excluding deposits)", + "|As of or for the year ended December 31,|||Average||\n|(in millions)|2016|2015|2016|2015||\n|Commercial paper:||||||\n|Wholesale funding|$11,738|$15,562|$15,001|$19,340||\n|Client cash management|\u2014|\u2014|\u2014|18,800|(i)|\n|Total commercial paper|$11,738|$15,562|$15,001|$38,140||\n|Obligations of Firm-administered multi-seller conduits(a)|$2,719|$8,724|$5,153|$11,961||\n|Other borrowed funds|$22,705|$21,105|$21,139|$28,816||\n|Securities loaned or sold under agreements to repurchase:||||||\n|Securities sold under agreements to repurchase|$149,826|$129,598|$160,458|$168,163||\n|Securities loaned(b)|12,137|16,877|13,195|18,633||\n|Total securities loaned or sold under agreements to repurchase(b)(c)(d)(e)|$161,963|$146,475|$173,653|$186,796||\n|Senior notes|$151,042|$149,964|$153,768|$147,498||\n|Trust preferred securities|2,345|3,969|3,724|4,341||\n|Subordinated debt|21,940|25,027|24,224|27,310||\n|Structured notes|37,292|32,813|35,978|31,309||\n|Total long-term unsecured funding|$212,619|$211,773|$217,694|$210,458||\n|Credit card securitization(a)|31,181|27,906|29,428|30,382||\n|Other securitizations((a)(f)|1,527|1,760|1,669|1,909||\n|FHLB advances|79,519|71,581|73,260|70,150||\n|Other long-term secured funding(g)|3,107|5,297|4,619|4,332||\n|Total long-term secured funding|$115,334|$106,544|$108,976|$106,773||\n|Preferred stock(h)|$26,068|$26,068|26,068|$24,040||\n|Common stockholders\u2019 equity(h)|$228,122|$221,505|224,631|$215,690||\n", + "(a) Included in beneficial interest issued by consolidated variable interest entities on the Firm\u2019s Consolidated balance sheets.", + "(b) Prior period amounts have been revised to conform with current period presentation.", + "(c) Excludes federal funds purchased.", + "(d) Excludes long-term structured repurchase agreements of $1.8 billion and $4.2 billion as of December 31, 2016 and 2015, respectively, and average balances of $2.9 billion and $3.9 billion for the years ended December 31, 2016 and 2015, respectively.", + "(e) Excludes long-term securities loaned of $1.2 billion and $1.3 billion as of December 31, 2016, and December 31, 2015, respectively, and average balances of $1.3 billion and $0.9 billion for the years ended December 31, 2016 and 2015, respectively.", + "(f) Other securitizations includes securitizations of student loans.", + "The Firm\u2019s wholesale businesses also securitize loans for client-driven transactions, which are not considered to be a source of funding for the Firm and are not included in the table.", + "(g) Includes long-term structured notes which are secured.", + "(h) For additional information on preferred stock and common stockholders\u2019 equity see Capital Risk Management on pages 76\u201385, Consolidated statements of changes in stockholders\u2019 equity, Note 22 and Note 23.", + "(i) During 2015 the Firm discontinued its commercial paper customer sweep cash management program." + ], + "question_id": "simplong-test-169", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most ALM strategy only, what is the growth rate of PDI?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 10 Other income (deductions) changed from $47.6 million in 2002 to ($36.0 million) in 2003 primarily due to a decrease in \"miscellaneous - net\" as a result of a $107.7 million accrual in the second quarter of 2003 for the loss that would be associated with a final, non-appealable decision disallowing abeyed River Bend plant costs.", + "See Note 2 to the consolidated financial statements for more details regarding the River Bend abeyed plant costs.", + "The decrease was partially offset by an increase in interest and dividend income as a result of the implementation of SFAS 143.", + "Interest on long-term debt decreased from $462.0 million in 2002 to $433.5 million in 2003 primarily due to the redemption and refinancing of long-term debt.", + "NON-UTILITY NUCLEAR Following are key performance measures for Non-Utility Nuclear:", + "||2004|2003|2002|\n|Net MW in operation at December 31|4,058|4,001|3,955|\n|Average realized price per MWh|$41.26|$39.38|$40.07|\n|Generation in GWh for the year|32,524|32,379|29,953|\n|Capacity factor for the year|92%|92%|93%|\n", + "2004 Compared to 2003 The decrease in earnings for Non-Utility Nuclear from $300.8 million to $245.0 million was primarily due to the $154.5 million net-of-tax cumulative effect of a change in accounting principle that increased earnings in the first quarter of 2003 upon implementation of SFAS 143.", + "See \"Critical Accounting Estimates - SFAS 143\" below for discussion of the implementation of SFAS 143.", + "Earnings before the cumulative effect of accounting change increased by $98.7 million primarily due to the following: ?", + "lower operation and maintenance expenses, which decreased from $681.8 million in 2003 to $595.7 million in 2004, primarily resulting from charges recorded in 2003 in connection with the voluntary severance program; ?", + "higher revenues, which increased from $1.275 billion in 2003 to $1.342 billion in 2004, primarily resulting from higher contract pricing.", + "The addition of a support services contract for the Cooper Nuclear Station and increased generation in 2004 due to power uprates completed in 2003 and fewer planned and unplanned outages in 2004 also contributed to the higher revenues; and ?", + "miscellaneous income resulting from a reduction in the decommissioning liability for a plant, as discussed in Note 8 to the consolidated financial statements.", + "Partially offsetting this increase were the following: ?", + "higher income taxes, which increased from $88.6 million in 2003 to $142.6 million in 2004; and ?", + "higher depreciation expense, which increased from $34.3 million in 2003 to $48.9 million in 2004, due to additions to plant in service.2003 Compared to 2002 The increase in earnings for Non-Utility Nuclear from $200.5 million to $300.8 million was primarily due to the $154.5 million net-of-tax cumulative effect of a change in accounting principle recognized in the first quarter of 2003 upon implementation of SFAS 143.", + "See \"Critical Accounting Estimates - SFAS 143\" below for discussion of the implementation of SFAS 143.", + "Income before the cumulative effect of accounting change decreased by $54.2 million.", + "The decrease was primarily due to $83.0 million ($50.6 million net-of-tax) of charges recorded in connection with the voluntary severance program.", + "Except for the effect of the voluntary severance program, operation and maintenance expenses in 2003 per MWh of generation were in line with 2002 operation and maintenance expenses.", + "Gains and Other Income The following table shows our gains and other income for the fiscal years ended December 31, 2004, January 2, 2004, and January 3, 2003.", + "| ($ in millions)| 2004 | 2003 | 2002 |\n|Timeshare note sale gains|$64|$64|$60|\n|Synthetic fuel earn-out payments received, net|28|\u2014|\u2014|\n|Gains on sales of real estate|44|21|28|\n|Gains on sales of joint venture investments|19|21|44|\n|Other|9|\u2014|\u2014|\n||$164|$106|$132|\n", + "Interest Expense 2004 COMPARED TO 2003 Interest expense decreased $11 million to $99 million, reflecting the repayment of $234 million of senior debt in the fourth quarter of 2003 and other subsequent debt reductions, partially offset by lower capitalized interest resulting from fewer projects under construction, primarily related to our Timeshare segment.2003 COMPARED TO 2002 Interest expense increased $24 million to $110 million, reflecting interest on the mort\u0002gage debt assumed in the fourth quarter of 2002 associated with the acquisition of 14 senior living communities, and lower capitalized interest resulting from fewer proj\u0002ects under construction, primarily related to our Timeshare segment.", + "In the fourth quarter of 2003, $234 million of senior debt was repaid.", + "The weighted average interest rate on the repaid debt was 7 percent.", + "Interest Income, Provision for Loan Losses, and Income Tax 2004 COMPARED TO 2003 Interest income, before the provision for loan losses, increased $17 million (13 percent) to $146 million, reflecting higher loan balances, including the $200 million note col\u0002lected in the third quarter of 2004 related to the acquisition by Cendant Corporation of our interest in the Two Flags joint venture and higher interest rates.", + "We recognized $9 million of interest income associated with the $200 million note, which was issued early in the 2004 second quarter.", + "Our provision for loan losses for 2004 was a benefit of $8 million and includes $3 million of reserves for loans deemed uncollectible at three hotels, offset by the reversal of $11 million of reserves no longer deemed necessary.", + "Income from continuing operations before income taxes generated a tax provision of $100 million in 2004, compared to a tax benefit of $43 million in 2003.", + "The differ\u0002ence is primarily attributable to the impact of the synthetic fuel joint ventures, which generated a tax benefit and tax credits of $165 million in 2004, compared to $245 mil\u0002lion in 2003 and to higher pre-tax income.", + "In the third quarter of 2003, we sold a 50 percent interest in our synthetic fuel joint ventures, and we currently consolidate the joint ventures.2003 COMPARED TO 2002 Interest income increased $7 million (6 percent) to $129 million.", + "Our provision for loan losses for 2003 was $7 million and includes $15 million of reserves for loans deemed uncollectible at six hotels, offset by the reversal of $8 million of reserves no longer deemed necessary.", + "Income from continuing operations before income taxes and minority interest gen\u0002erated a tax benefit of $43 million in 2003, compared to a tax provision of $32 million in 2002.", + "The difference is primarily attributable to the impact of our synthetic fuel operation, which generated a tax benefit and tax credits of $245 million in 2003, com\u0002pared to $208 million in 2002.", + "Excluding the impact of the synthetic fuel operation, our pre-tax income was lower in 2003, which also contributed to the favorable tax impact.", + "Our effective tax rate for discontinued operations increased from 15.7 percent to 39 percent due to the impact of the taxes in 2002 associated with the sale of stock in connection with the disposal of our Senior Living Services business.", + "Minority Interest Minority interest increased from an expense of $55 million in 2003 to a benefit of $40 million in 2004, primarily as a result of the change in the ownership structure of the synthetic fuel joint ventures following our sale of 50 percent of our interest in the joint ventures.", + "Due to the purchaser\u2019s put option, which expired on November 6, 2003, minority interest for 2003 reflected our partner\u2019s share of the synthetic fuel operating losses and its share of the associated tax benefit, along with its share of the tax credits from the June 21, 2003, sale date through the put option\u2019s expiration date, when we began accounting for the ventures under the equity method of accounting.", + "For 2004, minority interest reflects our partner\u2019s share of the synthetic fuel losses from March 26, 2004 (when we began consolidating the ventures due to the adoption of FIN 46(R)), through year-end.", + "For additional information, see the discussion relating to our \u201cSynthetic Fuel\u201d segment on page 19.", + "Income from Continuing Operations 2004 COMPARED TO 2003 Income from continuing operations increased 25 percent to $594 million, and diluted earnings per share from continuing operations increased 27 percent to $2.47.", + "The favorable results were primarily driven by strong hotel demand, new unit growth, strong timeshare results, higher interest income reflecting higher balances and rates, lower interest expense due to debt reductions, lower loan loss provisions, stronger synthetic fuel results and increased gains of $58 million, partially offset by higher income taxes excluding the synthetic fuel impact, and higher general and administra\u0002tive expenses.2003 COMPARED TO 2002 Income from continuing operations increased 8 percent to $476 million, and diluted earnings per share from continuing operations advanced 11 percent to $1.94.", + "Synthetic fuel operations contributed $96 million in 2003 compared to $74 million in 2002.", + "Our lodging financial results declined $5 million to $702 million in 2003.", + "The comparisons", + "Product Specific Risks and Risk Mitigants For certain living benefits guarantees, claims will primarily represent the funding of contractholder lifetime withdrawals after the cumulative withdrawals have first exhausted the contractholder account value.", + "Due to the age of the in force block, limited claim payments have occurred to date, and they are not expected to increase significantly within the next five years, based upon current assumptions.", + "The timing and amount of future claims will depend on actual returns on contractholder account value and actual contractholder behavior relative to our assumptions.", + "The majority of our current living benefits guarantees provide for guaranteed lifetime contractholder withdrawal payments inclusive of a \u201chighest daily\u201d contract value guarantee.", + "Our PDI variable annuity complements our variable annuity products with the highest daily benefit and provides for guaranteed lifetime contractholder withdrawal payments, but restricts contractholder asset allocation to a single bond fund sub-account within the separate accounts.", + "The majority of our variable annuity contracts with living benefits guarantees, and all new contracts sold with our highest daily living benefits feature, include risk mitigants in the form of an automatic rebalancing feature and/or inclusion in our ALM strategy.", + "We may also utilize external reinsurance as a form of additional risk mitigation.", + "The risks associated with the guaranteed benefits of certain legacy products that were sold prior to our development of the automatic rebalancing feature are also managed through our ALM strategy.", + "Certain legacy GMAB products include the automatic rebalancing feature, but are not included in the ALM strategy.", + "The PDI product and contracts with the GMIB feature have neither risk mitigant.", + "Certain risks associated with PDI are managed through the limitation of contractholder asset allocations to a single bond fund sub-account.", + "For our GMDBs, we provide a benefit payable in the event of death.", + "Our base GMDB is generally equal to a return of cumulative deposits adjusted for any partial withdrawals.", + "Certain products include an optional enhanced GMDB based on the greater of a minimum return on the contract value or an enhanced value.", + "We have retained the risk that the total amount of death benefit payable may be greater than the contractholder account value.", + "However, a substantial portion of the account values associated with GMDBs are subject to an automatic rebalancing feature because the contractholder also selected a living benefit guarantee which includes an automatic rebalancing feature.", + "All of the variable annuity account values with living benefit guarantees also contain GMDBs.", + "The living and death benefit features for these contracts cover the same insured life and, consequently, we have insured both the longevity and mortality risk on these contracts.", + "The following table sets forth the risk management profile of our living benefit guarantees and GMDB features as of the periods indicated.", + "||December 31,|\n||2016|2015|2014|\n||Account Value|% of Total|Account Value|% of Total|Account Value|% of Total|\n||(in millions)|\n|Living benefit/GMDB features-1:|||||||\n|Both ALM strategy and automatic rebalancing-2|$106,585|69%|$106,018|71%|$110,953|72%|\n|ALM strategy only|9,409|6%|9,994|7%|11,395|7%|\n|Automatic rebalancing only|1,168|1%|1,393|1%|1,771|1%|\n|External reinsurance-3|2,932|2%|1,513|1%|0|0%|\n|PDI|7,926|5%|4,664|3%|2,777|2%|\n|Other Products|2,730|2%|2,870|2%|3,324|2%|\n|Total living benefit/GMDB features|$130,750||$126,452||$130,220||\n|GMDB features and other-4|22,545|15%|22,989|15%|24,863|16%|\n|Total variable annuity account value|$153,295||$149,441||$155,083||\n", + "(1) All contracts with living benefit guarantees also contain GMDB features, covering the same insured contract.", + "(2) Contracts with living benefits that are included in our ALM strategy, and have an automatic rebalancing feature.", + "(3) Represents contracts subject to reinsurance transaction with external counterparty covering new business for the period April 1, 2015 through December 31, 2016.", + "These contracts with living benefits also have an automatic rebalancing feature.", + "(4) Includes contracts that have a GMDB feature and do not have an automatic rebalancing feature.", + "The risk profile of our variable annuity account values as of the periods above reflect our product risk diversification strategy and the runoff of legacy products over time." + ], + "question_id": "simplong-test-170", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Average Balances in terms of Interest-bearing deposits develops with the same growth rate in 2017 Ended December 31, what will it reach in 2018 Ended December 31? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 14.", + "Significant Transactions \u0010 (Continued) The issuance price of the common units exceeded the Company\u2019s carrying amount, resulting in a pretax gain of approximately $133.1 million.", + "In accordance with SEC Staff Accounting Bulletin No.51, \u201cAccounting for Sales of Stock by a Subsidiary,\u201d recognition of a gain is only appropriate if the class of securities sold by the subsidiary does not contain any preference over the subsidiary\u2019s other classes of securities.", + "As a result, the Company will defer gain recognition until the subordinated units are converted into common units.", + "Boardwalk Pipeline used the net proceeds of approximately $271.4 million to fund the repayment of its intercompany debt ($250.0 million) relating to the acquisition of Gulf South and to provide additional working capital.", + "Acquisitions The Company, through its subsidiary Boardwalk Pipelines, LLC acquired Gulf South Pipeline, LP (\u201cGulf South\u201d) from Entergy-Koch, LP, a venture between Entergy Corporation and Koch Energy, Inc. , a subsidiary of privately\u0002owned Koch Industries, Inc. , in December of 2004.", + "The Company funded the $1.14 billion purchase price, including transaction costs and closing adjustments, with $575.0 million of proceeds from an interim loan and the remaining approximately $561.0 million from its available cash.", + "In January of 2005, Boardwalk Pipelines, LLC and Gulf South issued long-term debt and used the proceeds to repay the $575.0 million interim loan.", + "See Note 12.", + "Gulf South owns and operates a 7,570-mile interstate natural gas pipeline and storage system located in the states of Texas, Louisiana, Mississippi, Alabama and Florida.", + "The Gulf South pipeline system is comprised of the interstate transmission pipeline and 80.0 billion cubic feet (\u201cBcf\u201d) of working gas storage capacity.", + "In May of 2003, Boardwalk Pipelines, LLC acquired Texas Gas from The Williams Companies, Inc. (\u201cWilliams\u201d).", + "The transaction value was approximately $1.05 billion, which included $250.0 million of existing Texas Gas debt.", + "The results of Texas Gas have been included in the Consolidated Financial Statements from the date of acquisition.", + "The Company funded the approximately $803.3 million balance of the purchase price, including transaction costs and closing adjustments, with $528.3 million of its available cash and $275.0 million of proceeds from an interim loan incurred by Texas Gas immediately after the acquisition.", + "Upon completion of the acquisition, Boardwalk Pipelines, LLC issued $185.0 million of 5.2% Notes due 2018 and Texas Gas issued $250.0 million of 4.6% Notes due 2015.", + "The net offering proceeds of approximately $431.0 million were used to repay the $275.0 million interim loan and to retire approximately $132.7 million principal amount of Texas Gas\u2019s existing $150.0 million of 8.625% Notes due 2004 and to pay related tender premiums.", + "In March of 2004, Texas Gas retired the remaining $17.3 million principal amount of its 8.625% Notes upon final maturity.", + "Texas Gas used its existing cash balances to fund this maturity.", + "Boardwalk Pipelines, LLC was converted to a limited partnership in November 2005 and is now known as Boardwalk Pipelines, LP.", + "Texas Gas owns and operates a 5,900-mile natural gas pipeline system that transports natural gas originating in the Louisiana Gulf Coast and East Texas and running north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, Indiana and into Ohio, with smaller diameter lines extending into Illinois.", + "Texas Gas currently has a delivery capacity of 2.8 Bcf per day and a working storage capacity of 63.0 Bcf.", + "The allocation of purchase price to the assets and liabilities acquired was as follows:", + "||Gulf South|Texas Gas|\n|(In millions)|||\n|Current assets|$77.4|$81.6|\n|Property, plant and equipment|1,159.0|691.4|\n|Goodwill||169.3|\n|Other non-current assets|28.3|243.9|\n|Current liabilities|-108.7|-58.9|\n|Short-term debt||-149.8|\n|Long-term debt||-99.2|\n|Other liabilities and deferred credits|-34.8|-74.6|\n||$1,121.2|$803.7|\n", + "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\u0002lien 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 (\u201crescission rate\u201d), 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 2012|September 30 2012|June 30 2012|March 31 2012|December 312011|\n|2004 & Prior|$11|$15|$31|$10|$11|\n|2005|8|10|19|12|13|\n|2006|23|30|56|41|28|\n|2007|45|137|182|100|90|\n|2008|7|23|49|17|18|\n|2008 & Prior|94|215|337|180|160|\n|2009 \u2013 2012|38|52|42|33|29|\n|Total|$132|$267|$379|$213|$189|\n|FNMA, FHLMC, and GNMA %|94%|87%|86%|88%|91%|\n", + "CONSOLIDATED INCOME STATEMENT REVIEW Our Consolidated Income Statement is presented in Item 8 of this Report.", + "Net income for 2017 was $5.4 billion, or $10.36 per diluted common share, an increase of 35% compared with $4.0 billion, or $7.30 per diluted common share, for 2016.", + "Higher net income was driven by an 8% increase in total revenue and a tax benefit from the new federal tax legislation, partially offset by a 10% increase in noninterest expense.", + "Revenue growth resulted from a 9% increase in net interest income and a 7% increase in noninterest income.", + "Net Interest Income Table 1: Summarized Average Balances and Net Interest Income (a)", + "||2017|2016|\n|Year Ended December 31Dollars in millions|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|AverageBalances|Average Yields/ Rates|Interest Income/ Expense|\n|Assets|||||||\n|Interest-earning assets|||||||\n|Investment securities|$75,057|2.74%|$2,059|$72,046|2.62%|$1,889|\n|Loans|217,271|3.86%|8,390|208,817|3.61%|7,543|\n|Interest-earning deposits with banks|24,043|1.11%|267|26,328|.52%|136|\n|Other|8,983|3.48%|313|7,843|3.56%|279|\n|Total interest-earning assets/interest income|$325,354|3.39%|11,029|$315,034|3.13%|9,847|\n|Liabilities|||||||\n|Interest-bearing liabilities|||||||\n|Interest-bearing deposits|$179,447|.35%|623|$172,764|.25%|430|\n|Borrowed funds|56,889|1.90%|1,083|52,939|1.57%|831|\n|Total interest-bearing liabilities/interest expense|$236,336|.72%|1,706|$225,703|.56%|1,261|\n|Net interest income/margin (Non-GAAP)||2.87%|9,323||2.73%|8,586|\n|Taxable-equivalent adjustments|||-215|||-195|\n|Net interest income (GAAP)|||$9,108|||$8,391|\n", + "(a) Interest income calculated as taxable-equivalent interest income.", + "To provide more meaningful comparisons of interest income and yields for all interest-earning assets, as well as net interest margins, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under GAAP on the Consolidated Income Statement.", + "For more information, see Reconciliation of Taxable-Equivalent Net Interest Income in the Statistical Information (Unaudited) section in Item 8 of this Report.", + "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) \u2013 Average Consolidated Balance Sheet And Net Interest Analysis and Analysis Of Year-To-Year Changes In Net Interest Income in Item 8 of this Report.", + "Net interest income increased $717 million, or 9%, in 2017 compared with 2016 due to increases in loan and securities balances and yields, partially offset by an increase in borrowing and deposit costs.", + "Net interest margin increased largely reflecting the benefit to loans and securities yields from higher interest rates in 2017.", + "Average investment securities increased $3.0 billion, or 4%, reflecting net purchases of U. S. Treasury and government agency securities of $2.9 billion and agency residential mortgage-backed securities of $2.8 billion, partially offset by declines in average commercial mortgage-backed securities of $1.6 billion and non-agency residential mortgage-backed securities of $.8 billion.", + "Total investment securities were 23% of average interest-earning assets in both 2017 and 2016.", + "Average loans grew by $8.5 billion, or 4%, reflecting an increase in average commercial lending of $8.4 billion driven by broad-based growth in our Corporate Banking, Real Estate, Equipment Finance and Business Credit businesses in our Commercial & Institutional Banking segment.", + "Growth in Equipment Finance included the impact of the acquisition of a commercial and vendor finance business with $1.0 billion of loans and leases in the second quarter of 2017.", + "Average consumer lending increased $.1 billion in the comparison, as growth in average residential real estate, automobile and credit card loans was substantially offset by declines in average home equity and education loans.", + "These declines reflected run-off in the non-strategic consumer loan portfolios of brokered home equity and government guaranteed education loans.", + "Average loans represented 67% of average interest\u0002earning assets in 2017 compared to 66% in 2016.", + "Average total deposits increased $7.2 billion, or 3%, primarily due to growth in average interest-bearing deposits of $6.7 billion, or 4%, driven by higher average savings deposits of $13.1 billion.", + "This increase reflected a shift, in part, to relationship-based savings products from money market deposits, which decreased $9.2 billion.", + "Additionally, average interest-bearing demand deposits grew $4.3 billion, mainly" + ], + "question_id": "simplong-test-171", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Professional and consulting fees for Amount in the years where Depreciation and amortization is positive for Amount? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) (in thousands, except share and per share amounts) Had compensation expense for employee stock-based awards been determined based on the fair value at grant date consistent with SFAS No.123(R), the Company\u2019s Net income (loss) for the year would have been increased or decreased to the pro forma amounts indicated below:", + "||Year Ended December 31,|\n|| 2005| 2004|2003|\n|Net income||||\n|As reported|$8,142|$57,587|$4,212|\n|Compensation expense|1,366|1,965|1,646|\n|Pro forma|$6,776|$55,622|$2,566|\n|Basic net income (loss) per common share|$0.29|$6.76|$-2.20|\n|Diluted net income (loss) per common share|$0.23|$1.88|$-2.20|\n|Basic net income (loss) per common share \u2014 pro forma|$0.24|$6.48|$-2.70|\n|Diluted net income (loss) per common share \u2014 pro forma|$0.19|$1.82|$-2.70|\n", + "Basic and diluted earnings per share (\u201cEPS\u201d) in 2003 includes the effect of dividends accrued on our redeemable convertible preferred stock.", + "In 2003, securities that could potentially dilute basic EPS in the future were not included in the computation of diluted EPS, because to do so would have been anti-dilutive.", + "See Note 12, \u201cEarnings Per Share\u201d.", + "Revenue Recognition The majority of the Company\u2019s revenues are derived from commissions for trades executed on the electronic trading platform that are billed to its broker-dealer clients on a monthly basis.", + "The Company also derives revenues from information and user access fees, license fees, interest and other income.", + "Commissions are generally calculated as a percentage of the notional dollar volume of bonds traded on the electronic trading platform and vary based on the type and maturity of the bond traded.", + "Under the transaction fee plans, bonds that are more actively traded or that have shorter maturities are generally charged lower commissions, while bonds that are less actively traded or that have longer maturities generally command higher commissions.", + "Commissions are recorded on a trade date basis.", + "The Company\u2019s standard fee schedule for U. S. high-grade corporate bonds was revised in August 2003 to provide lower average transaction commissions for dealers who transacted higher U. S. high-grade volumes through the platform, while at the same time providing an element of fixed commissions over the two-year term of the plans.", + "One of the revised plans that was suited for the Company\u2019s most active broker-dealer clients included a fee cap that limited the potential growth in U. S. high-grade revenue.", + "The fee caps were set to take effect at volume levels significantly above those being transacted at the time the revised transaction fee plans were introduced.", + "Most broker-dealer clients entered into fee arrangements with respect to the trading of U. S. high-grade corporate bonds that included both a fixed component and a variable component.", + "These agreements had been scheduled to expire during the third quarter of 2005.", + "On June 1, 2005, the Company introduced a new fee plan primarily for secondary market transactions in U. S. high-grade corporate bonds executed on its electronic trading platform.", + "As of December 31, 2005, 17 of the Company\u2019s U. S. high-grade broker-dealer clients have signed new two-year agreements that supersede the fee arrangements that were entered into with many of its broker-dealer clients during the third quarter of 2003.", + "The new plan incorporates higher fixed monthly fees and lower variable fees for broker\u0002dealer clients than the previous U. S. high-grade corporate transaction fee plans described above, and incorporates volume incentives to broker-dealer clients that are designed to increase the volume of transactions effected on the Company\u2019s", + "The U. S. high-grade average variable transaction fee per million increased from $84 per million for the year ended December 31, 2007 to $121 per million for the year ended December 31, 2008 due to the longer maturity of trades executed on the platform, for which we charge higher commissions.", + "The Eurobond average variable transaction fee per million decreased from $138 per million for the year ended December 31, 2007 to $112 per million for the year ended December 31, 2008, principally from the introduction of the new European high-grade fee plan.", + "Other average variable transaction fee per million increased from $121 per million for the year ended December 31, 2007 to $158 per million for the year ended December 31, 2008 primarily due to a higher percentage of volume in products that carry higher fees per million, principally high-yield.", + "Technology Products and Services.", + "Technology products and services revenues increased by $7.8 million to $8.6 million for the year ended December 31, 2008 from $0.7 million for the year ended December 31, 2007.", + "The increase was primarily a result of the Greenline acquisition.", + "Information and User Access Fees.", + "Information and user access fees increased by $0.1 million or 2.5% to $6.0 million for the year ended December 31, 2008 from $5.9 million for the year ended December 31, 2007.", + "Investment Income.", + "Investment income decreased by $1.8 million or 33.7% to $3.5 million for the year ended December 31, 2008 from $5.2 million for the year ended December 31, 2007.", + "This decrease was primarily due to lower interest rates.", + "Other.", + "Other revenues decreased by $0.1 million or 4.4% to $1.5 million for the year ended December 31, 2008 from $1.6 million for the year ended December 31, 2007.", + "Expenses Our expenses for the years ended December 31, 2008 and 2007, and the resulting dollar and percentage changes, were as follows:", + "||Year Ended December 31,|\n||2008|2007|||\n|||% of||% of|$|%|\n|| $|Revenues| $|Revenues|Change|Change|\n||($ in thousands)|\n| Expenses|||||||\n|Employee compensation and benefits|$43,810|47.1%|$43,051|46.0%|$759|1.8%|\n|Depreciation and amortization|7,879|8.5|7,170|7.7|709|9.9|\n|Technology and communications|8,311|8.9|7,463|8.0|848|11.4|\n|Professional and consulting fees|8,171|8.8|7,639|8.2|532|7.0|\n|Occupancy|2,891|3.1|3,275|3.5|-384|-11.7|\n|Marketing and advertising|3,032|3.3|1,905|2.0|1,127|59.2|\n|General and administrative|6,157|6.6|5,889|6.3|268|4.6|\n|Total expenses|$80,251|86.2%|$76,392|81.6%|$3,859|5.1%|\n", + "$43.8 million for the year ended December 31, 2008 from $43.1 million for the year ended December 31, 2007.", + "This increase was primarily attributable to higher wages of $2.4 million, severance costs of $1.0 million and stock\u0002based compensation expense of $1.4 million, offset by reduced incentive compensation of $3.6 million.", + "The higher wages were primarily a result of the Greenline acquisition.", + "The total number of employees increased to 185 as of December 31, 2008 from 182 as of December 31, 2007.", + "As a percentage of total revenues, employee compensation and benefits expense increased to 47.1% for the year ended December 31, 2008 from 46.0% for the year ended December 31, 2007.", + "Depreciation and Amortization.", + "Depreciation and amortization expense increased by $0.7 million or 9.9% to $7.9 million for the year ended December 31, 2008 from $7.2 million for the year ended December 31, 2007.", + "An increase in amortization of intangible assets of $1.3 million and the TWS impairment charge of $0.7 million were offset by a decline in depreciation and amortization of hardware and software development costs of $1.3 million.", + "MARKETAXESS HOLDINGS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) of this standard had no material effect on the Company\u2019s Consolidated Statements of Financial Condition and Consolidated Statements of Operations.", + "Reclassifications Certain reclassifications have been made to the prior years\u2019 financial statements in order to conform to the current year presentation.", + "Such reclassifications had no effect on previously reported net income.", + "On March 5, 2008, the Company acquired all of the outstanding capital stock of Greenline Financial Technologies, Inc. (\u201cGreenline\u201d), an Illinois-based provider of integration, testing and management solutions for FIX-related products and services designed to optimize electronic trading of fixed-income, equity and other exchange-based products, and approximately ten percent of the outstanding capital stock of TradeHelm, Inc. , a Delaware corporation that was spun-out from Greenline immediately prior to the acquisition.", + "The acquisition of Greenline broadens the range of technology services that the Company offers to institutional financial markets, provides an expansion of the Company\u2019s client base, including global exchanges and hedge funds, and further diversifies the Company\u2019s revenues beyond the core electronic credit trading products.", + "The results of operations of Greenline are included in the Consolidated Financial Statements from the date of the acquisition.", + "The aggregate consideration for the Greenline acquisition was $41.1 million, comprised of $34.7 million in cash, 725,923 shares of common stock valued at $5.8 million and $0.6 million of acquisition-related costs.", + "In addition, the sellers were eligible to receive up to an aggregate of $3.0 million in cash, subject to Greenline attaining certain earn\u0002out targets in 2008 and 2009.", + "A total of $1.4 million was paid to the sellers in 2009 based on the 2008 earn-out target, bringing the aggregate consideration to $42.4 million.", + "The 2009 earn-out target was not met.", + "A total of $2.0 million of the purchase price, which had been deposited into escrow accounts to satisfy potential indemnity claims, was distributed to the sellers in March 2009.", + "The shares of common stock issued to each selling shareholder of Greenline were released in two equal installments on December 20, 2008 and December 20, 2009, respectively.", + "The value ascribed to the shares was discounted from the market value to reflect the non-marketability of such shares during the restriction period.", + "The purchase price allocation is as follows (in thousands):", + "|Cash|$6,406|\n|Accounts receivable|2,139|\n|Amortizable intangibles|8,330|\n|Goodwill|29,405|\n|Deferred tax assets, net|3,410|\n|Other assets, including investment in TradeHelm|1,429|\n|Accounts payable, accrued expenses and deferred revenue|-8,701|\n|Total purchase price|$42,418|\n", + "The amortizable intangibles include $3.2 million of acquired technology, $3.3 million of customer relationships, $1.3 million of non-competition agreements and $0.5 million of tradenames.", + "Useful lives of ten years and five years have been assigned to the customer relationships intangible and all other amortizable intangibles, respectively.", + "The identifiable intangible assets and goodwill are not deductible for tax purposes.", + "The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the years ended December 31, 2008 and 2007, as if the acquisition of Greenline had occurred as of the beginning of the period presented, after giving effect to certain purchase accounting adjustments.", + "These pro forma results are not necessarily indicative of what the Company\u2019s operating results would have been had the acquisition actually taken place as of the beginning of the earliest period presented.", + "The pro forma financial information" + ], + "question_id": "simplong-test-172", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Premiums in GAAP in table 1, what is the growth rate of Net investment income in GAAP in table 1?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Amortization of Intangibles", + "|||||Change|\n||Fiscal Year|2016 over 2015|2015 over 2014|\n||2016|2015|2014|$ Change|% Change|$ Change|% Change|\n|Amortization expenses|$70,123|$88,318|$26,020|$-18,195|-21%|$62,298|239%|\n|Amortization expenses as a % of revenue|2.0%|2.6%|0.9%|||||\n", + "Amortization expenses decreased in fiscal 2016 as compared to fiscal 2015 as a result of certain intangible assets becoming fully amortized during fiscal 2015.", + "Amortization expenses increased in fiscal 2015 as compared to fiscal 2014 as a result of acquired amortizable intangible assets from the Hittite Acquisition.", + "These intangible assets are being amortized on a straight-line basis over their estimated useful lives.", + "Special Charges We monitor global macroeconomic conditions on an ongoing basis, and continue to assess opportunities for improved operational effectiveness and efficiency and better alignment of expenses with revenues.", + "As a result of these assessments, we have undertaken various restructuring actions over the past several years.", + "The expense reductions relating to ongoing actions are described below.", + "During fiscal 2016, we recorded a special charge of approximately $13.7 million for severance and fringe benefit costs in accordance with the Company's ongoing benefit plan for 123 manufacturing, engineering and SMG&A employees.", + "As of October 29, 2016, we still employed 44 of the 123 employees included in these cost reduction actions.", + "These employees must continue to be employed by the Company until their employment is terminated in order to receive the severance benefit.", + "We expect this action will result in estimated annual cost savings of approximately $12.3 million once fully implemented.", + "During fiscal 2014, we recorded special charges of approximately $37.3 million.", + "These special charges included $37.9 million for severance and fringe benefit costs in accordance with our ongoing benefit plan or statutory requirements at foreign locations for 341 manufacturing, engineering and SMG&A employees; $0.5 million for lease obligations costs for facilities that we ceased using during the fourth quarter of fiscal 2014; and $0.4 million for the impairment of assets that have no future use located at closed facilities.", + "We reversed approximately $1.4 million of our severance accrual related to charges taken in fiscal 2013, primarily due to severance costs being lower than our estimates.", + "We terminated the employment of all employees associated with this action.", + "This action resulted in annual cost savings of approximately $46.2 million.", + "We expect that annual cost savings resulting from these actions will be used to make additional investments in products that we expect will drive revenue growth in the future.", + "Other Operating Expense During fiscal 2015, we converted the benefits provided to participants in our Irish defined benefits pension plan to benefits provided under our Irish defined contribution plan.", + "Retired pension plan participants received an annuity.", + "As a result, in fiscal 2015 we recorded settlement charges, legal, accounting and other professional fees totaling $223.7 million to settle all existing and future Irish pension plan liabilities.", + "The following table presents the results of operations of our Protection segment:", + "| |Years Ended December 31,|||\n| |2010 |2009 |||\n| |GAAP |Less: Adjustments-1 |Operating |GAAP |Less: Adjustments-1 |Operating |Operating Change|\n| |(in millions, except percentages)|\n| Revenues|||||||||\n|Management and financial advice fees|$54|$\u2014|$54|$47|$\u2014|$47|$7|15%|\n|Distribution fees|96|\u2014|96|97|\u2014|97|-1|-1|\n|Net investment income|429|1|428|422|27|395|33|8|\n|Premiums|1,055|\u2014|1,055|1,020|\u2014|1,020|35|3|\n|Other revenues|422|\u2014|422|386|\u2014|386|36|9|\n|Total revenues|2,056|1|2,055|1,972|27|1,945|110|6|\n|Banking and deposit interest expense|1|\u2014|1|1|\u2014|1|\u2014|\u2014|\n|Total net revenues|2,055|1|2,054|1,971|27|1,944|110|6|\n| Expenses|||||||||\n|Distribution expenses|32|\u2014|32|22|\u2014|22|10|45|\n|Interest credited to fixed accounts|147|\u2014|147|144|\u2014|144|3|2|\n|Benefits, claims, losses and settlement expenses|1,066|\u2014|1,066|924|\u2014|924|142|15|\n|Amortization of deferred acquisition costs|183|\u2014|183|159|\u2014|159|24|15|\n|General and administrative expense|223|\u2014|223|226|\u2014|226|-3|-1|\n|Total expenses|1,651|\u2014|1,651|1,475|\u2014|1,475|176|12|\n|Pretax income|$404|$1|$403|$496|$27|$469|$-66|-14%|\n", + "(1) Adjustments include net realized gains or losses.", + "Our Protection segment pretax income was $404 million for the year ended December 31, 2010, a decrease of $92 million, or 19%, from $496 million for the prior year.", + "Our Protection segment pretax operating income, which excludes net realized gains or losses, was $403 million for the year ended December 31, 2010, a decrease of $66 million, or 14%, from $469 million for the prior year.", + "Net Revenues Net revenues increased $84 million, or 4%, to $2.1 billion for the year ended December 31, 2010 compared to $2.0 billion for the prior year.", + "Operating net revenues, which exclude net realized gains or losses, increased $110 million, or 6%, to $2.1 billion for the year ended December 31, 2010 compared to $1.9 billion for the prior year primarily due to the impact of updating valuation assumptions and model changes and an increase in net investment income and premiums.", + "Management and financial advice fees increased $7 million, or 15%, to $54 million for the year ended December 31, 2010 compared to $47 million for the prior year primarily due to higher management fees from VUL separate account growth due to market appreciation.", + "Net investment income increased $7 million, or 2%, to $429 million for the year ended December 31, 2010 compared to $422 million for the prior year.", + "Operating net investment income, which excludes net realized gains or losses, increased $33 million, or 8%, to $428 million for the year ended December 31, 2010 compared to $395 million for the prior year primarily due to higher investment yields and increased general account assets.", + "Premiums increased $35 million, or 3%, to $1.1 billion for the year ended December 31, 2010 compared to $1.0 billion for the prior year due to growth in Auto and Home premiums driven by higher volumes.", + "Auto and Home policy counts increased 9% period-over-period.", + "Other revenues increased $36 million, or 9%, to $422 million for the year ended December 31, 2010 compared to $386 million for the prior year primarily due to updating valuation assumptions and model changes.", + "Other revenues in 2010 included a charge of $20 million from updating valuation assumptions and model changes compared to a charge of $65 million in the prior year.", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS A.", + "SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization.", + "General Dynamics is organized into four business groups: Aerospace, which produces Gulfstream aircraft, provides aircraft services and performs aircraft completions for other original equipment manufacturers (OEMs); Combat Systems, which designs and manufactures combat vehicles, weapons systems and munitions; Marine Systems, which designs, constructs and repairs surface ships and submarines; and Information Systems and Technology, which provides communications and information technology products and services.", + "Our primary customer is the U. S. government.", + "We also do significant business with international governments and a diverse base of corporate and individual buyers of business aircraft.", + "Basis of Consolidation and Classification.", + "The Consolidated Financial Statements include the accounts of General Dynamics Corporation and our wholly-owned and majority-owned subsidiaries.", + "We eliminate all inter-company balances and transactions in the Consolidated Financial Statements.", + "Consistent with defense industry practice, we classify assets and liabilities related to long-term production contracts as current, even though some of these amounts may not be realized within one year.", + "In addition, some prior-year amounts have been reclassified among financial statement accounts to conform to the current-year presentation.", + "Use of Estimates.", + "The nature of our business requires that we make a number of estimates and assumptions in accordance with U. S. generally accepted accounting principles (GAAP).", + "These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period.", + "We base our estimates on historical experience and currently available information and on various other assumptions that we believe are reasonable under the circumstances.", + "Actual results could differ from these estimates.", + "Revenue Recognition.", + "We account for revenues and earnings using the percentage-of-completion method.", + "Under this method, contract costs and revenues are recognized as the work progresses, either as the products are produced or as services are rendered.", + "We estimate the profit on a contract as the difference between the total estimated revenue and costs to complete a contract and recognize that profit over the life of the contract.", + "If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the loss in the quarter it is identified.", + "We generally measure progress toward completion on contracts in our defense business based on the proportion of costs incurred to date relative to total estimated costs at completion.", + "For our contracts for the manufacture of business-jet aircraft, we record revenue at two contractual milestones: when green aircraft are delivered to, and accepted by, the customer and when the customer accepts final delivery of the fully outfitted aircraft.", + "We review and update our contract estimates regularly.", + "We recognize changes in estimated profit on contracts under the reallocation method.", + "Under the reallocation method, the impact of a revision in estimate is recognized prospectively over the remaining contract term.", + "The net increase in our operating earnings (and on a per-share basis) from the favorable impact of revisions in contract estimates totaled $350 ($0.60) in 2010, $356 ($0.63) in 2011 and $180 ($0.33) in 2012.", + "Other than revisions on the T-AKE combat-logistics ship and Specialist Vehicle programs of $53 and ($32), respectively, no revisions on any one contract were material in 2012.", + "Discontinued Operations.", + "In 2011, we recognized losses from the settlement of an environmental matter associated with a former operation of the company and our estimate of continued legal costs associated with the A-12 litigation as a result of the U. S. Supreme Court\u2019s decision that extended the expected timeline associated with the litigation.", + "Net cash used by discontinued operations in 2011 consists primarily of cash associated with the environmental settlement and A-12 litigation costs.", + "See Note N to the Consolidated Financial Statements for further discussion of the A-12 litigation.", + "Research and Development Expenses.", + "Research and development (R&D) expenses consisted of the following:", + "|Year Ended December 31|2010|2011|2012|\n|Company-sponsored R&D, including product developmentcosts|$325|$372|$374|\n|Bid and proposal costs|183|173|170|\n|Total company-sponsored R&D|508|545|544|\n|Customer-sponsored R&D|696|994|1,063|\n|Total R&D|$1,204|$1,539|$1,607|\n", + "R&D expenses are included in operating costs and expenses in the Consolidated Statements of Earnings (Loss) in the period in which they are incurred.", + "Customer-sponsored R&D expenses are charged directly to the related contract.", + "The Aerospace group has cost-sharing arrangements with some of its suppliers that enhance the group\u2019s internal development capabilities and offset a portion of the financial cost associated with the group\u2019s" + ], + "question_id": "simplong-test-173", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Capital lease obligations of Less than 1 year, and Gross written premiums of Years Ended December 31, 2012 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "A summary of these various obligations at December 31, 2012, follows (in millions):", + "||Total|2013|2014 to2015|2016 to2017|Thereafter|\n|Reclamation and environmental obligationsa|$5,243|$246|$471|$329|$4,197|\n|Debt maturities|3,527|2|500|500|2,525|\n|Take-or-pay contractsb|2,200|976|731|286|207|\n|Scheduled interest payment obligationsc|1,289|121|241|226|701|\n|Operating lease obligations|205|32|38|31|104|\n|Totald|$12,464|$1,377|$1,981|$1,372|$7,734|\n", + "a.", + "Represents estimated cash payments, on an undiscounted and unescalated basis, associated with reclamation and environmental activities.", + "The timing and the amount of these payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for additional discussion of environmental and reclamation matters.", + "b.", + "Represents contractual obligations for purchases of goods or services that are defined by us as agreements that are enforceable and legally binding and that specify all significant terms.", + "Take-or\u0002pay contracts primarily comprise the procurement of copper concentrates ($799 million), electricity ($524 million) and transportation services ($448 million).", + "Some of our take-or-pay contracts are settled based on the prevailing market rate for the service or commodity purchased, and in some cases, the amount of the actual obligation may change over time because of market conditions.", + "Obligations for copper concentrates provide for deliveries of specified volumes to Atlantic Copper at market-based prices.", + "Electricity obligations are primarily for contractual minimum demand at the South America and Tenke mines.", + "Transportation obligations are primarily for South America contracted ocean freight and for North America rail freight.", + "c. Scheduled interest payment obligations were calculated using stated coupon rates for fixed-rate debt and interest rates applicable at December 31, 2012, for variable-rate debt.", + "d. This table excludes certain other obligations in our consolidated balance sheets, including estimated funding for pension obligations as the funding may vary from year to year based on changes in the fair value of plan assets and actuarial assumptions, accrued liabilities totaling $107 million that relate to unrecognized tax benefits where the timing of settlement is not determinable; Atlantic Copper's obligations for retired employees totaling $38 million (refer to Note 10); and PT Freeport Indonesia's reclamation and closure cash fund obligation totaling $17 million (refer to Note 13).", + "This table also excludes purchase orders for the purchase of inventory and other goods and services, as purchase orders typically represent authorizations to purchase rather than binding agreements.", + "In addition to our debt maturities and other contractual obligations discussed above, we have other commitments, which we expect to fund with available cash, projected operating cash flows, available credit facility or future financing transactions, if necessary.", + "These include (i) PT Freeport Indonesia\u2019s commitment to provide one percent of its annual revenue for the development of the local people in its area of operations through the Freeport Partnership Fund for Community Development, (ii) TFM\u2019s commitment to provide 0.3 percent of its annual revenue for the development of the local people in its area of operations and (iii) other commercial commitments, including standby letters of credit, surety bonds and guarantees.", + "Refer to Notes 13 and 14 for further discussion.", + "CONTINGENCIES Environmental The cost of complying with environmental laws is a fundamental and substantial cost of our business.", + "At December 31, 2012, we had $1.2 billion recorded in our consolidated balance sheets for environmental obligations attributed to CERCLA or analogous state programs and for estimated future costs associated with environmental obligations that are considered probable based on specific facts and circumstances.", + "During 2012, we incurred environmental capital expenditures and other environmental costs (including our joint venture partners\u2019 shares) of $612 million for programs to comply with applicable environmental laws and regulations that affect our operations, compared to $387 million in 2011 and $372 million in 2010.", + "The increase in environmental costs in 2012, compared with 2011 and 2010, primarily relates to higher expenditures for land and settlements of environmental matters (see Note 13 for further discussion).", + "For 2013, we expect to incur approximately $600 million of aggregate environmental capital expenditures and other environmental costs, which are part of our overall 2013 operating budget.", + "The timing and amount of estimated payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for further information about environmental regulation, including significant environmental matters.", + "Asset Retirement Obligations We recognize AROs as liabilities when incurred, with the initial measurement at fair value.", + "These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to income.", + "Reclamation costs for disturbances are recorded as an ARO in the period of disturbance.", + "Our cost estimates are reflected on a third-party cost basis and comply with our legal obligation to retire tangible, long-lived assets.", + "At December 31, 2012, we had $1.1 billion recorded in our consolidated balance sheets for AROs.", + "Spending", + "ILLUMINA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Advertising Costs The Company expenses advertising costs as incurred.", + "Advertising costs were approximately $440,000 for 2003, $267,000 for 2002 and $57,000 for 2001.", + "Income Taxes A deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities, as well as the expected future tax benefit to be derived from tax loss and credit carryforwards.", + "Deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability.", + "Valuation allowances are established when realizability of deferred tax assets is uncertain.", + "The effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted.", + "Foreign Currency Translation The functional currencies of the Company\u2019s wholly owned subsidiaries are their respective local currencies.", + "Accordingly, all balance sheet accounts of these operations are translated to U. S. dollars using the exchange rates in effect at the balance sheet date, and revenues and expenses are translated using the average exchange rates in effect during the period.", + "The gains and losses from foreign currency translation of these subsidiaries\u2019 financial statements are recorded directly as a separate component of stockholders\u2019 equity under the caption \u2018\u2018Accumulated other comprehensive income.", + "\u2019\u2019 Stock-Based Compensation At December 28, 2003, the Company has three stock-based employee and non-employee director compensation plans, which are described more fully in Note 5.", + "As permitted by SFAS No.123, Accounting for Stock-Based Compensation, the Company accounts for common stock options granted, and restricted stock sold, to employees, founders and directors using the intrinsic value method and, thus, recognizes no compensation expense for options granted, or restricted stock sold, with exercise prices equal to or greater than the fair value of the Company\u2019s common stock on the date of the grant.", + "The Company has recorded deferred stock compensation related to certain stock options, and restricted stock, which were granted prior to the Company\u2019s initial public offering with exercise prices below estimated fair value (see Note 5), which is being amortized on an accelerated amortiza\u0002tion methodology in accordance with Financial Accounting Standards Board Interpretation Number (\u2018\u2018FIN\u2019\u2019) 28.", + "Pro forma information regarding net loss is required by SFAS No.123 and has been determined as if the Company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement.", + "The fair value for these options was estimated at the dates of grant using the fair value option pricing model (Black Scholes) with the following weighted-average assumptions for 2003, 2002 and 2001:", + "||Year Ended December 28, 2003|Year Ended December 29, 2002|Year Ended December 30, 2001|\n|Weighted average risk-free interest rate|3.03%|3.73%|4.65%|\n|Expected dividend yield|0%|0%|0%|\n|Weighted average volatility|103%|104%|119%|\n|Estimated life (in years)|5|5|5|\n|Weighted average fair value of options granted|$3.31|$4.39|$7.51|\n", + "The Company renewed an unsecured bank credit line on April 29, 2010 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at June 30, 2010).", + "The credit line was renewed through April 29, 2012.", + "At June 30, 2010, $762 was outstanding.", + "The Company renewed a bank credit line on March 7, 2010 which provides for funding of up to $8,000 and bears interest at the Federal Reserve Board\u2019s prime rate (3.25% at June 30, 2010).", + "The credit line expires March 7, 2011 and is secured by $1,000 of investments.", + "At June 30, 2010, no amount was outstanding.", + "The Company has entered into a bank credit facility agreement that includes a revolving loan, a term loan and a bullet term loan.", + "The revolving loan allows short-term borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000.", + "The revolving loan terminates June 4, 2015.", + "At June 30, 2010, the outstanding revolving loan balance was $120,000.", + "The term loan has an original principal balance of $150,000, with quarterly principal payments of $5,625 beginning on September 30, 2011, and the remaining balance due June 4, 2015.", + "The bullet term loan had an original principal balance of $100,000.", + "The full balance, which would have been due on December 4, 2010, was paid in full on July 8, 2010 as set forth in Note 15 to the Consolidated Financial Statements (see Item 8).", + "Each of the loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company\u2019s leverage ratio.", + "The outstanding balances bear interest at a weighted average rate of 2.99%.", + "The loans are secured by pledges of capital stock of certain subsidiaries of the Company.", + "The loans are also guaranteed by certain subsidiaries of the Company.", + "The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement.", + "As of June 30, 2010, the Company was in compliance with all such covenants.", + "The Company has entered into various capital lease obligations for the use of certain computer equipment.", + "Included in property and equipment are related assets of $8,872.", + "At June 30, 2010, $5,689 was outstanding, of which $4,380 will be maturing in the next twelve months.", + "Contractual Obligations and Other Commitments At June 30, 2010 the Company\u2019s total off balance sheet contractual obligations were $36,935.", + "This balance consists of $27,228 of long-term operating leases for various facilities and equipment which expire from 2011 to 2017 and the remaining $9,707 is for purchase commitments related to property and equipment, particularly for contractual obligations related to the on-going construction of new facilities.", + "The table excludes $7,548 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.", + "Contractual obligations by Less than More than", + "|Contractual obligations by|Less than 1 year|||More than 5 years||\n|period as of June 30, 2010|1-3 years|3-5 years|TOTAL|\n|Operating lease obligations|$ 8,765|$ 9,422|$ 5,851|$ 3,190|$ 27,228|\n|Capital lease obligations|4,380|1,309|-|-|5,689|\n|Notes payable, including accrued interest|102,493|46,210|225,213|-|373,916|\n|Purchase obligations|9,707|-|-|-|9,707|\n|Total|$125,345|$56,941|$231,064|$3,190|$416,540|\n", + "Recent Accounting Pronouncements In December 2007, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Statement on Financial Accounting Standards (\u201cSFAS\u201d) No.141(R), \u201cBusiness Combinations,\u201d (\u201cSFAS 141(R)\u201d) which replaces SFAS No.141 and has since been incorporated into the Accounting Standards Codification (\u201cASC\u201d) as ASC 805-10.", + "ASC 805-10 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in the acquired entity and the goodwill acquired.", + "The Statement also establishes disclosure requirements which will enable users of the financial statements to evaluate the nature and financial effects of the business combination.", + "Relative to SFAS 141(R), the FASB issued FSP 141(R)-1 on April 1, 2009, which is now incorporated in ASC 805-20.", + "ASC 805-20 eliminates the requirement under FAS 141(R) to record assets and liabilities at the acquisition date for noncontractual contingencies at fair value where it is deemed \u201cmore-likely-than-not\u201d that an asset or liability would result.", + "Under ASC 805-20, such assets and liabilities would only need to be recorded where the fair value can be determined during the measurement period or where it is probable that an asset or liability exists at the acquisition date and the amount of fair value can be reasonably determined.", + "ASC 805-10 was effective for the Company on July 1, 2009.", + "The adoption", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2012/2011|2011/2010|\n|(Dollars in millions)|2012|2011|2010|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,073.1|$975.6|$865.4|$97.5|10.0%|$110.3|12.7%|\n|Net written premiums|852.1|820.5|620.3|31.6|3.9%|200.2|32.3%|\n|Premiums earned|$852.4|$821.2|$641.1|$31.3|3.8%|$180.1|28.1%|\n|Incurred losses and LAE|700.3|705.9|536.8|-5.6|-0.8%|169.2|31.5%|\n|Commission and brokerage|117.6|137.7|120.8|-20.1|-14.6%|16.9|14.0%|\n|Other underwriting expenses|103.0|89.5|69.7|13.5|15.1%|19.8|28.5%|\n|Underwriting gain (loss)|$-68.5|$-111.9|$-86.1|$43.5|-38.8%|$-25.8|30.0%|\n||||||Point Chg||Point Chg|\n|Loss ratio|82.2%|86.0%|83.7%||-3.8||2.3|\n|Commission and brokerage ratio|13.8%|16.8%|18.8%||-3.0||-2.0|\n|Other underwriting expense ratio|12.0%|10.8%|10.9%||1.2||-0.1|\n|Combined ratio|108.0%|113.6%|113.4%||-5.6||0.2|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums.", + "Gross written premiums increased by 12.7% to $975.6 million in 2011 compared to $865.4 million in 2010.", + "This was due to strategic portfolio changes with growth in short-tail business, primarily driven by the acquisition of Heartland, which provided $169.6 million of new crop insurance premium in 2011 and $54.0 million growth in A&H primary business, partially offset by the reduction of a large casualty program.", + "Net written premiums increased 32.3% to $820.5 million in 2011 compared to $620.3 million for the same period in 2010 due to higher gross premiums and reduced levels of ceded reinsurance, primarily due to the reduction of the large casualty program.", + "Premiums earned increased 28.1% to $821.2 million in 2011 compared to $641.1 million in 2010.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-174", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the implied value of nigen based on the 2000 acquisition?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "affiliated company.", + "The loss recorded on the sale was approximately $14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations.", + "In the second quarter of 2002, the Company recorded an impairment charge of approximately $40 million, after income taxes, on an equity method investment in a telecommunications company in Latin America held by EDC.", + "The impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company.", + "During 2001, the Company lost operational control of Central Electricity Supply Corporation (\u2018\u2018CESCO\u2019\u2019), a distribution company located in the state of Orissa, India.", + "CESCO is accounted for as a cost method investment.", + "In May 2000, the Company completed the acquisition of 100% of Tractebel Power Ltd (\u2018\u2018TPL\u2019\u2019) for approximately $67 million and assumed liabilities of approximately $200 million.", + "TPL owned 46% of Nigen.", + "The Company also acquired an additional 6% interest in Nigen from minority stockholders during the year ended December 31, 2000 through the issuance of approximately 99,000 common shares of AES stock valued at approximately $4.9 million.", + "With the completion of these transactions, the Company owns approximately 98% of Nigen\u2019s common stock and began consolidating its financial results beginning May 12, 2000.", + "Approximately $100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through January 1, 2002 at which time the Company adopted SFAS No.142 and ceased amortization of goodwill.", + "In August 2000, a subsidiary of the Company acquired a 49% interest in Songas Limited (\u2018\u2018Songas\u2019\u2019) for approximately $40 million.", + "The Company acquired an additional 16.79% of Songas for approximately $12.5 million, and the Company began consolidating this entity in 2002.", + "Songas owns the Songo Songo Gas-to-Electricity Project in Tanzania.", + "In December 2002, the Company signed a Sales Purchase Agreement to sell Songas.", + "The sale is expected to close in early 2003.", + "See Note 4 for further discussion of the transaction.", + "The following table presents summarized comparative financial information (in millions) for the Company\u2019s investments in 50% or less owned investments accounted for using the equity method.", + "|AS OF AND FOR THE YEARS ENDED DECEMBER 31,|2002|2001|2000|\n|Revenues|$2,832|$6,147|$6,241|\n|Operating Income|695|1,717|1,989|\n|Net Income|229|650|859|\n|Current Assets|1,097|3,700|2,423|\n|Noncurrent Assets|6,751|14,942|13,080|\n|Current Liabilities|1,418|3,510|3,370|\n|Noncurrent Liabilities|3,349|8,297|5,927|\n|Stockholder's Equity|3,081|6,835|6,206|\n", + "In 2002, 2001 and 2000, the results of operations and the financial position of CEMIG were negatively impacted by the devaluation of the Brazilian Real and the impairment charge recorded in 2002.", + "The Brazilian Real devalued 32%, 19% and 8% for the years ended December 31, 2002, 2001 and 2000, respectively.", + "The Company recorded $83 million, $210 million, and $64 million of pre-tax non-cash foreign currency transaction losses on its investments in Brazilian equity method affiliates during 2002, 2001 and 2000, respectively.", + "Consumers purchases the balance of its required gas supply under incremental firm transportation contracts, firm city gate contracts and, as needed, interruptible transportation contracts.", + "The amount of interruptible transportation service and its use vary primarily with the price for such service and the availability and price of the spot supplies being purchased and transported.", + "Consumers\u2019 use of interruptible transportation is generally in off-peak summer months and after Consumers has fully utilized the services under the firm transportation agreements.", + "Enterprises Enterprises, through various subsidiaries and certain equity investments, is engaged primarily in domestic independent power production.", + "Enterprises\u2019 operating revenue included in Continuing Operations in our consolidated financial statements was $383 million in 2007, $438 million in 2006, and $693 million in 2005.", + "Operating revenue included in Discontinued Operations in our consolidated financial statements was $235 million in 2007, $684 million in 2006, and $409 million in 2005.", + "In 2007, Enterprises made a significant change in business strategy by exiting the international marketplace and refocusing its business strategy to concentrate on its independent power business in the United States.", + "Independent Power Production CMS Generation was formed in 1986.", + "It invested in and operated non-utility power generation plants in the United States and abroad.", + "The independent power production business segment\u2019s operating revenue included in Continuing Operations in our consolidated financial statements was $41 million in 2007, $103 million in 2006, and $104 million in 2005.", + "Operating revenue included in Discontinued Operations in our consolidated financial statements was $124 million in 2007, $437 million in 2006, and $211 million in 2005.", + "In 2007, Enterprises sold CMS Generation and all of its international assets and power production facilities and transferred its domestic independent power plant operations to its subsidiary, Hydra-Co. For more information on the asset sales, see ITEM 8.", + "CMS ENERGY\u2019S FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA \u2014 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 NOTE 2.", + "ASSET SALES, DISCONTINUED OPERATIONS AND IMPAIRMENT CHARGES \u2014 ASSET SALES.", + "IndependentPowerProductionProperties: AtDecember 31,2007,CMSEnergyhadownershipinterestsin independent power plants totaling 1,199 gross MW or 1,078 net MW (net MW reflects that portion of the gross capacity in relation to CMS Energy\u2019s ownership interest).", + "The following table details CMS Energy\u2019s interest in independent power plants at December 31, 2007:", + "| Location| Fuel Type| Ownership Interest (%)| Gross Capacity (MW)| Percentage of Gross Capacity Under Long-Term Contract (%)|\n|California|Wood|37.8|36|100|\n|Connecticut|Scrap tire|100|31|0|\n|Michigan|Coal|50|70|100|\n|Michigan|Natural gas|100|710|61|\n|Michigan|Natural gas|100|224|0|\n|Michigan|Wood|50|40|100|\n|Michigan|Wood|50|38|100|\n|North Carolina|Wood|50|50|0|\n| Total|||1,199||\n", + "For information on capital expenditures, see ITEM 7.", + "CMS ENERGY\u2019S MANAGEMENT\u2019S DISCUSSION AND ANALYSIS \u2014 CAPITAL RESOURCES AND LIQUIDITY.", + "CMS ENERGY CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) December 24, 2008.", + "The settlement includes a $20 million decrease in depreciation rates and requires that we not request a new gas general rate increase prior to May 1, 2009.", + "OTHER CONTINGENCIES \u2014 INDEMNIFICATIONS Equatorial Guinea Tax Claim: In 2004, we received a request for indemnification from the purchaser of CMS Oil and Gas.", + "The indemnification claim relates to the sale of our oil, gas and methanol projects in Equatorial Guinea and the claim of the government of Equatorial Guinea that we owe $142 million in taxes in connection with that sale.", + "CMS Energy concluded that the government\u2019s tax claim is without merit and the purchaser of CMS Oil and Gas submitted a response to the government rejecting the claim.", + "The government of Equatorial Guinea has indicated that it still intends to pursue its claim.", + "We cannot predict the financial impact or outcome of this matter.", + "Moroccan Tax Claim: In May 2007, we sold our 50 percent interest in Jorf Lasfar.", + "As part of the sale agreement, we agreed to indemnify the purchaser for 50 percent of any tax assessments on Jorf Lasfar attributable to tax years prior to the sale.", + "In December 2007, the Moroccan tax authority concluded its audit of Jorf Lasfar for tax years 2003 through 2005.", + "The audit asserted deficiencies in certain corporate and withholding taxes.", + "In January 2009, we paid $18 million, which was charged against a tax indemnification liability established when we recorded the sale of Jorf Lasfar, and accordingly it did not affect earnings.", + "Marathon Indemnity Claim regarding F. T. Barr Claim: On December 3, 2001, F. T. Barr, an individual with an overriding royalty interest in production from the Alba field, filed a lawsuit in Harris County District Court in Texas against CMS Energy, CMS Oil and Gas and other defendants alleging that his overriding royalty payments related to Alba field production were improperly calculated.", + "CMS Oil and Gas believes that Barr was paid properly on gas sales and that he was not entitled to the additional overriding royalty payment sought.", + "All parties signed a confidential settlement agreement on April 26, 2004.", + "The settlement resolved claims between Barr and the defendants, and the involved CMS Energy entities reserved all defenses to any indemnity claim relating to the settlement.", + "There is disagreement between Marathon and certain current or former CMS Energy entities as to the existence and scope of any indemnity obligations to Marathon in connection with the settlement.", + "Between April 2005 and April 2008, there were no further communications between Marathon and CMS Energy entities regarding this matter.", + "In April 2008, Marathon indicated its intent to pursue the indemnity claim.", + "Present and former CMS Energy entities and Marathon entered into an agreement tolling the statute of limitations on any claim by Marathon under the indemnity.", + "CMS Energy entities dispute Marathon\u2019s claim, and will vigorously oppose it if raised in any legal proceeding.", + "CMS Energy entities also will assert that Marathon has suffered minimal, if any, damages.", + "CMS Energy cannot predict the outcome of this matter.", + "If Marathon\u2019s claim were sustained, it would have a material effect on CMS Energy\u2019s future earnings and cash flow.", + "Guarantees and Indemnifications: FIN 45 requires a guarantor, upon issuance of a guarantee, to recognize a liability for the fair value of the obligation it undertakes in issuing the guarantee.", + "To measure the fair value of a guarantee liability, we recognize a liability for any premium received or receivable in exchange for the guarantee.", + "For a guarantee issued as part of a larger transaction, such as in association with an asset sale or executory contract, we recognize a liability for any premium that we would have received had we issued the guarantee as a single item.", + "The following table describes our guarantees at December 31, 2008:", + "| Guarantee Description| Issue Date| Expiration Date| Maximum Obligation| FIN 45 Carrying Amount|\n|| In Millions|\n|Indemnifications from asset sales and other agreements|Various|Indefinite|$1,445(a)|$84(b)|\n|Surety bonds and other indemnifications|Various|Indefinite|35|1|\n|Guarantees and put options|Various|Various through September 2027|89(c)|1|\n", + "ratings, and general information on market movements for investment grade state and municipal securities normally considered by market participants when pricing such debt securities.", + "Foreign Corporate Bonds: Foreign corporate debt securities were valued based on quoted market prices, when available, or on yields available on comparable securities of issuers with similar credit ratings.", + "Common Stocks: Common stocks in the OPEB Plan consist of equity securities with low transaction costs that were actively managed and tracked by the S&P 500 Index.", + "These securities were valued at their quoted closing prices.", + "Mutual Funds: Mutual funds represent shares in registered investment companies that are priced based on the daily quoted NAVs that are publicly available and are the basis for transactions to buy or sell shares in the funds.", + "Pooled Funds: Pooled funds include both common and collective trust funds as well as special funds that contain only employee benefit plan assets from two or more unrelated benefit plans.", + "Presented in the following table are the investment components of these funds:" + ], + "question_id": "simplong-test-175", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Con Edison's Current Fair value of derivative assets of Gross Amounts of Recognized Assets/ (Liabilities) in relation to the total in 2014?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Earnings from operations in 2017 increased by $4,444 million compared with 2016, primarily due to higher earnings at BCA and BDS, and higher unallocated pension income, which more than offset other unallocated items and eliminations.", + "BCA's 2017 earnings increased by $3,437 million primarily reflecting lower reach-forward losses, lower research and development costs, and improved margins reflecting favorable cost performance, which more than offset the impact of lower revenues.", + "In 2016, BCA recorded reach-forward losses of $1,258 million on the 747 program and reclassified $1,235 million of 787 flight test aircraft inventory costs to research and development expense.", + "BDS earnings from operations in 2017 increased by $257 million compared with 2016 primarily due to lower charges on the KC-46A Tanker and Commercial Crew programs, which more than offset the impact of fewer C-17 deliveries and Apache delivery mix.", + "Earnings from operations in 2016 decreased by $1,609 million compared with 2015 due to lower earnings at BCA, partially offset by the change in unallocated pension and postretirement income/(expense).", + "BCA earnings in 2016 decreased by $2,289 million primarily due to the reclassification of $1,235 million of 787 flight test aircraft costs to research and development and higher reach-forward losses on the 747 and KC-46ATanker programs.", + "The reclassification of flight test aircraft costs was recorded in the second quarter of 2016 as a result of our determination that two 787 flight test aircraft were no longer commercially saleable.", + "The change in the unallocated pension and postretirement income/(expense) in 2016 was primarily driven by lower service costs and lower amortization of actuarial losses.", + "During 2017, 2016 and 2015, we recorded reach-forward losses on the KC-46A Tanker program.", + "In 2017, we recorded charges of $471 million, of which $378 million was recorded at BCA and $93 million at BDS.", + "During 2016, we recorded charges of $1,128 million: $772 million at BCA and $356 million at BDS.", + "During 2015, we recorded charges of $835 million: $513 million at BCA and $322 million at BDS.", + "During 2016 and 2015 we recorded reach-forward losses on the 747 program of $1,258 million and $885 million.", + "Core operating earnings for 2017 increased by $3,506 million compared with 2016 primarily due to lower reach forward losses and the reclassification of costs related to the 787 flight test aircraft in 2016.", + "Core operating earnings in 2016 decreased by $2,227 million compared with 2015 primarily due to the reclassification of costs related to the 787 flight test aircraft and higher charges on the 747 and KC-46A Tanker programs described above.", + "Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other are shown in the following table:", + "|Years ended December 31,|2017|2016|2015|\n|Share-based plans|-$77|-$66|-$76|\n|Deferred compensation|-240|-46|-63|\n|Eliminations and other|-738|-621|-601|\n|Sub-total (included in core operating earnings*)|-1,055|-733|-740|\n|Pension|1,120|217|-421|\n|Postretirement|188|153|123|\n|Pension and other postretirement benefit income/(expense)(excluded from core operating earnings*)|1,308|370|-298|\n|Total unallocated items, eliminations and other|$253|-$363|-$1,038|\n", + "* Core operating earnings is a Non-GAAP measure that excludes certain components of pension and other postretirement benefit expense.", + "See pages 39 - 40.", + "Notes to the Financial Statements \u2014 Continued Note O \u2013 Derivative Instruments and Hedging Activities Con Edison\u2019s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.", + "Derivatives are recognized on the balance sheet at fair value (See Note P), unless an exception is available under the accounting rules for derivatives and hedging.", + "Qualifying derivative contracts that have been designated as normal purchases or normal sales contracts are not reported at fair value under the accounting rules.", + "The fair values of the Companies\u2019 commodity derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at December 31, 2014 and 2013 were:", + "| (Millions of Dollars)|2014|2013|\n| Balance Sheet Location|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|\n| Con Edison|||||||\n|Fair value of derivative assets|||||||\n|Current|$111|$-67|$44(b)|$134|$-77|$57(b)|\n|Non-current|34|-23|11|32|-24|8|\n|Total fair value of derivative assets|$145|$-90|$55|$166|$-101|$65|\n|Fair value of derivative liabilities|||||||\n|Current|$-242|$139|$-103|$-82|$72|$-10|\n|Non-current|-66|91|25|-31|26|-5|\n|Total fair value of derivative liabilities|$-308|$230|$-78|$-113|$98|$-15|\n|Net fair value derivative assets/(liabilities)|$-163|$140|$-23(b)|$53|$-3|$50(b)|\n| CECONY|||||||\n|Fair value of derivative assets|||||||\n|Current|$26|$-15|$11(b)|$27|$-19|$8(b)|\n|Non-current|22|-20|2|14|-13|1|\n|Total fair value of derivative assets|$48|$-35|$13|$41|$-32|$9|\n|Fair value of derivative liabilities|||||||\n|Current|$-96|$48|$-48|$-32|$21|$-11|\n|Non-current liabilities|-42|32|-10|-19|16|-3|\n|Total fair value of derivative liabilities|$-138|$80|$-58|$-51|$37|$-14|\n|Net fair value derivative assets/(liabilities)|$-90|$45|$-45(b)|$-10|$5|$-5(b)|\n", + "(a) Derivative instruments and collateral were set off on the consolidated balance sheet as applicable under the accounting rules.", + "The Companies enter into master agreements for their commodity derivatives.", + "These agreements typically provide setoff in the event of contract termination.", + "In such case, generally the non-defaulting party\u2019s payable will be set-off by the defaulting party\u2019s payable.", + "The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.", + "(b) At December 31, 2014 and 2013, margin deposits for Con Edison ($27 million and $17 million, respectively) and CECONY ($25 million and $16 million, respectively) were classified as derivative assets in the balance sheet, but not included in the table.", + "Margin is collateral, typically cash, that the holder of a derivative instrument is required to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.", + "The Utilities generally recover their prudently incurred fuel, purchased power and gas costs, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility regulators.", + "See \u201cRecoverable Energy Costs\u201d in Note A.", + "In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives.", + "As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies\u2019 consolidated income statements.", + "Con Edison\u2019s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in purchased power, gas purchased for resale and non-utility revenue in the reporting period in which they occur.", + "Management believes that these derivative instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.", + "acquire operations and facilities from municipalities and other local governments, as they increasingly seek to raise capital and reduce risk.", + "We realize synergies from consolidating businesses into our existing operations, whether through acquisitions or public-private partnerships, which allows us to reduce capital expenditures and expenses associated with truck routing, personnel, fleet maintenance, inventories and back-office administration.", + "Operating Model The goal of our operating model pillar is to deliver a consistent, high-quality service to all of our customers through the Republic Way: One Way.", + "Everywhere.", + "Every day.", + "This approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence.", + "The Republic Way is the key to harnessing the best of what we do as operators and translating that across all facets of our business.", + "A key enabler of the Republic Way is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management, supported by a functional structure to provide subject matter expertise.", + "This structure allows us to take advantage of our scale by coordinating functionally across all of our markets, while empowering local management to respond to unique market dynamics.", + "We have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way.", + "Fleet Automation Approximately 75% 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, decrease emissions 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 19% of our fleet operates on natural gas.", + "We expect to continue our gradual fleet conversion to CNG as part of our ordinary annual fleet replacement process.", + "We believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments.", + "Approximately 30% of our replacement vehicle purchases during 2017 were CNG vehicles.", + "We believe using CNG vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment.", + "Although upfront capital costs are higher, using CNG reduces our overall fleet operating costs through lower fuel expenses.", + "As of December 31, 2017, we operated 37 CNG fueling stations.", + "Standardized Maintenance Based on an industry trade publication, we operate the seventh largest vocational fleet in the United States.", + "As of December 31, 2017, our average fleet age in years, by line of business, was as follows:", + "||Approximate Number of Vehicles|Approximate Average Age|\n|Residential|7,200|7.5|\n|Small-container|4,600|7.1|\n|Large-container|4,100|8.8|\n|Total|15,900|7.7|\n", + "Landfill depletion and amortization expense increased primarily due to increased landfill disposal volumes and an overall increase in our average depletion and amortization rate.", + "The increase in expense was partially offset by favorable amortization adjustments recorded during 2016 of $6.5 million relative to asset retirement obligations, compared to favorable amortization adjustments of $0.7 million during 2015.", + "Amortization of Other Intangible Assets and Other Assets Expenses for amortization of other intangible assets and other assets were $71.0 million, $71.3 million and $71.9 million for the years ended December 31, 2017, 2016 and 2015, respectively, or 0.7% of revenue for 2017 and 0.8% for 2016 and 2015.", + "Our other intangible assets and other assets primarily relate to customer relationships, franchise agreements, other municipal agreements, and, to a lesser extent, non-compete agreements and trade names.", + "The changes in amortization expense are the result of assets acquired in the acquisitions of various waste businesses throughout the year, offset by certain intangible assets now being fully amortized.", + "Accretion Expense Accretion expense was $79.8 million, $79.1 million and $79.4 million, or 0.8% of revenue, for the years ended December 31, 2017 and 2016, and 0.9% of revenue for the year ended December 31, 2015.", + "Accretion expense has remained relatively unchanged as our asset retirement obligations remained relatively consistent period over period.", + "Selling, General and Administrative Expenses Selling, general and administrative expenses include salaries, health and welfare benefits, and incentive compensation for corporate and field general management, field support functions, sales force, accounting and finance, legal, management information systems, and clerical and administrative departments.", + "Other expenses include rent and office costs, fees for professional services provided by third parties, legal settlements, marketing, investor and community relations services, directors\u2019 and officers\u2019 insurance, general employee relocation, travel, entertainment and bank charges.", + "Restructuring charges are excluded from selling, general and administrative expenses and are discussed separately below.", + "The following table summarizes our selling, general and administrative expenses for the years ended December 31, 2017, 2016 and 2015 (in millions of dollars and as a percentage of revenue):", + "||2017|2016|2015|\n|Salaries|$706.3|7.0%|$646.3|6.9%|$636.6|7.0%|\n|Provision for doubtful accounts|30.6|0.3|20.4|0.2|22.7|0.2|\n|Other|320.5|3.2|303.1|3.2|323.8|3.6|\n|Total selling, general and administrative expenses|$1,057.4|10.5%|$969.8|10.3%|$983.1|10.8%|\n", + "These cost categories may change from time to time and may not be comparable to similarly titled categories used by other companies.", + "As such, you should take care when comparing our selling, general and administrative expenses by cost component to those of other companies.", + "Selling, General and Administrative Expenses \u2013 2017 compared to 2016 Salaries increased primarily due to higher incentive pay and wages and other payroll related items resulting from merit increases.", + "Other selling, general and administrative expenses increased primarily due a favorable legal settlement during 2016.", + "Additionally, we had an increase in acquisition-related transaction costs associated with our increased acquisition activity during the year." + ], + "question_id": "simplong-test-176", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the growth in the account balance in 2017", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) for 2017 and 2016, respectively:", + "||Level 3|\n|Balance as of January 1, 2017|$140|\n|Actual return on assets|2|\n|Purchases, issuances and settlements, net|136|\n|Balance as of December 31, 2017|$278|\n", + "The Company\u2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts.", + "The investments and risk mitigation strategies for the plans are tailored specifically for each trust.", + "In setting new strategic asset mixes, consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the Company.", + "The Company periodically updates the long-term, strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation.", + "Considerations include plan liability characteristics, liquidity needs, funding requirements, expected rates of return and the distribution of returns.", + "Strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and, within asset classes, strategies are employed to provide adequate returns, diversification and liquidity.", + "In 2012, the Company implemented a de-risking strategy for the American Water Pension Plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan.", + "As part of the de-risking strategy, the Company revised the asset allocations to increase the matching characteristics of fixed-income assets relative to liabilities.", + "The fixed income portion of the portfolio was designed to match the bond-like and long-dated nature of the postretirement liabilities.", + "In 2017, the Company further increased its exposure to liability-driven investing and increased its fixed-income allocation to 50%, up from 40%, in an effort to further decrease the funded status volatility of the plan and hedge the portfolio from movements in interest rates.", + "In 2012, the Company also implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility.", + "In 2017, the Company conducted a new asset-liability study that indicated medical trend inflation that outpaced the Consumer Price Index by more than 2% for the last 20 years.", + "Given continuously rising medical costs, the Company decided to increase the equity exposure of the portfolio to 30%, up from 20%, while reducing the fixed-income portion of the portfolio from 80% to 70%.", + "The Company also conducted an asset-liability study for the Post-Retirement Non-Bargaining Medical Plan.", + "Its allocation was adjusted to make it more conservative, reducing the equity allocation from 70% to 60% and increasing the fixed\u0002income allocation from 30% to 40%.", + "The Post-Retirement Medical Non-Bargaining plan\u2019s equity allocation was reduced due to the cap on benefits for some non-union participants and resultant reduction in the plan\u2019s liabilities.", + "These changes will take place in 2018.", + "The Company engages third party investment managers for all invested assets.", + "Managers are not permitted to invest outside of the asset class (e. g. fixed income, equity, alternatives) or strategy for which they have been appointed.", + "Investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided.", + "Futures and options may be used to adjust portfolio duration to align with a plan\u2019s targeted investment policy", + "Table VIII Allocation of the Allowance for Credit Losses by Product Type", + "||December 31|\n||2013|2012|2011|2010|2009|\n|(Dollars in millions)|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|\n|Allowance for loan and lease losses|||||||||||\n|Residential mortgage|$4,084|23.43%|$7,088|29.31%|$7,985|23.64%|$6,365|15.20%|$5,640|15.17%|\n|Home equity|4,434|25.44|7,845|32.45|13,094|38.76|12,887|30.77|10,116|27.19|\n|U.S. credit card|3,930|22.55|4,718|19.51|6,322|18.71|10,876|25.97|6,017|16.17|\n|Non-U.S. credit card|459|2.63|600|2.48|946|2.80|2,045|4.88|1,581|4.25|\n|Direct/Indirect consumer|417|2.39|718|2.97|1,153|3.41|2,381|5.68|4,227|11.36|\n|Other consumer|99|0.58|104|0.43|148|0.44|161|0.38|204|0.55|\n|Total consumer|13,423|77.02|21,073|87.15|29,648|87.76|34,715|82.88|27,785|74.69|\n|U.S. commercial-1|2,394|13.74|1,885|7.80|2,441|7.23|3,576|8.54|5,152|13.85|\n|Commercial real estate|917|5.26|846|3.50|1,349|3.99|3,137|7.49|3,567|9.59|\n|Commercial lease financing|118|0.68|78|0.32|92|0.27|126|0.30|291|0.78|\n|Non-U.S. commercial|576|3.30|297|1.23|253|0.75|331|0.79|405|1.09|\n|Total commercial-2|4,005|22.98|3,106|12.85|4,135|12.24|7,170|17.12|9,415|25.31|\n|Allowance for loan and lease losses|17,428|100.00%|24,179|100.00%|33,783|100.00%|41,885|100.00%|37,200|100.00%|\n|Reserve for unfunded lending commitments|484||513||714||1,188||1,487||\n|Allowance for credit losses-3|$17,912||$24,692||$34,497||$43,073||$38,687||\n", + "(1) Includes allowance for loan and lease losses for U. S. small business commercial loans of $462 million, $642 million, $893 million, $1.5 billion and $2.4 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(2) Includes allowance for loan and lease losses for impaired commercial loans of $277 million, $475 million, $545 million, $1.1 billion and $1.2 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(3) Includes $2.5 billion, $5.5 billion, $8.5 billion, $6.4 billion and $3.9 billion of valuation allowance included as part of the allowance for credit losses related to PCI loans at December 31, 2013, 2012, 2011, 2010 and 2009, respectively", + "At December 31, 2012, we had $3.7 billion in consolidated cash and $3.5 billion in long-term debt.", + "In February 2012, we sold $3.0 billion in senior notes in three tranches with a weighted average interest rate of approximately three percent.", + "We used the proceeds from this offering, plus cash on hand, to redeem the remaining $3.0 billion of our 8.375% Senior Notes.", + "Refer to \u201cCapital Resources and Liquidity \u2014 Financing Activities\u201d and to Note 9 for further discussion of these transactions.", + "In February 2013, we entered into a new senior unsecured revolving credit facility, which will refinance and replace our existing revolving credit facility upon completion of the proposed acquisition of PXP.", + "No amounts are currently available to us under the new revolving credit facility.", + "Refer to Note 20 for further discussion.", + "In February 2012, our Board of Directors (the Board) authorized an increase in the cash dividend on our common stock to an annual rate of $1.25 per share ($0.3125 per share quarterly), and we paid dividends on our common stock totaling $1.1 billion in 2012.", + "Refer to Note 11 for further discussion.", + "At current copper prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects and return cash to shareholders through dividends on our common stock.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the years ended December 31, 2012, 2011 and 2010.", + "OUTLOOK We view the long-term outlook for our business positively, supported by limitations on supplies of copper and by the requirements for copper in the world\u2019s economy.", + "We will continue to adjust our operating strategy as market conditions change.", + "Our financial results vary as a result of fluctuations in market prices for copper, gold and molybdenum and other factors.", + "World market prices for these commodities have fluctuated historically and are affected by numerous factors beyond our control.", + "Because we cannot control the price of our products, the key measures that management focuses on in operating our business are sales volumes, unit net cash costs and operating cash flow.", + "Discussion of the outlook for each of these measures follows.", + "Sales Volumes.", + "Following are our projected consolidated sales volumes for 2013 and actual consolidated sales volumes for 2012:", + "||2013 (Projected)||2012 (Actual)|\n|Copper(millions of recoverable pounds):||||\n|North America copper mines|1,445||1,351|\n|South America mining|1,325||1,245|\n|Indonesia mining|1,120||716|\n|Africa mining|410||336|\n||4,300||3,648|\n|Gold(thousands of recoverable ounces):||||\n|Indonesia mining|1,240||915|\n|North and South America mining|140||95|\n||1,380||1,010|\n|Molybdenum(millions of recoverable pounds)|90|a|83|\n", + "a.", + "Includes projected sales of 40 million pounds of molybdenum produced at our North and South America copper mines.", + "Projected copper sales for 2013 are expected to be higher than 2012 sales primarily reflecting access to higher grade ore in Indonesia and South America and higher production in North America and Africa.", + "Projected 2013 gold sales volumes are expected to be higher than 2012, primarily reflecting higher ore grades at Grasberg.", + "Molybdenum sales in 2013 are expected to be higher than 2012, primarily reflecting higher production from our Climax molybdenum mine.", + "Projected sales volumes are dependent on a number of factors, including achievement of targeted mining rates, the successful operation of production facilities, the impact of weather conditions and other factors.", + "Unit Net Cash Costs.", + "We expect to gain access to higher grade ore at Grasberg in late 2013, which will result in higher copper and gold production volumes (approximately 29 percent of 2013 consolidated copper sales volumes and 37 percent of consolidated gold sales volumes are expected in fourth-quarter 2013).", + "Quarterly unit net cash costs vary with fluctuations in sales volumes and average realized prices for gold and molybdenum, and are expected to be lower in late 2013 as we gain access to higher grade ore at Grasberg.", + "Assuming average prices of $1,700 per ounce of gold and $11 per pound of molybdenum and achievement of current 2013 sales volume and cost estimates, consolidated unit net cash costs (net of by-product credits) are expected to average $1.35 per pound in 2013.", + "The impact of price changes in 2013 on consolidated unit net cash costs would approximate $0.015 per pound for each $50 per ounce change in the average price of gold and $0.015 per pound for each $2 per pound change in the average price of molybdenum.", + "Refer to \u201cConsolidated Results \u2013 Production and Delivery Costs\u201d for further discussion of consolidated production and delivery costs.", + "Operating Cash Flows.", + "Our operating cash flows vary with prices realized from copper, gold and molybdenum sales, our sales volumes, production costs, income taxes and other working capital changes and other factors.", + "Based on current sales volume and cost estimates and assuming average prices of $3.65 per", + "Net Operating Revenues Year Ended December 31, 2014 versus Year Ended December 31, 2013 The Company\u2019s net operating revenues decreased $856 million, or 2 percent.", + "The following table illustrates, on a percentage basis, the estimated impact of key factors resulting in the increase (decrease) in net operating revenues for each of our operating segments:" + ], + "question_id": "simplong-test-177", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Consumer in relation to the total in 2008 ? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTE 19 SHAREHOLDERS\u2019 EQUITY Preferred Stock Information related to preferred stock is as follows:", + "|||Preferred Shares|\n|December 31Shares in thousands|Liquidationvalue per share| 2008|2007|\n|Authorized||||\n|$1 par value|| 16,960|16,985|\n|Issued and outstanding||||\n|Series A|$40| 6|7|\n|Series B|40| 1|1|\n|Series C|20| 119|128|\n|Series D|20| 171|186|\n|Series K|10,000| 50||\n|Series L|100,000| 2||\n|Series N|100,000| 76||\n|Total issued and outstanding|| 425|322|\n", + "On December 31, 2008, we issued $7.6 billion of Fixed Rate Cumulative Perpetual Preferred Stock, Series N, to the US Treasury under the US Treasury\u2019s Troubled Asset Relief Program (\u201cTARP\u201d) Capital Purchase Program, together with a warrant to purchase shares of common stock of PNC described below.", + "Series N dividends are payable on the 15th of February, May, August and November beginning February 15, 2009.", + "Dividends will be paid at a rate of 5.00% through February 15, 2014 and 9.00% thereafter.", + "This preferred stock is redeemable at par plus accrued and unpaid dividends subject to the approval of our primary banking regulators.", + "Under the TARP Capital Purchase Program, there are restrictions on common and preferred dividends and common share repurchases associated with the preferred stock issued to the US Treasury.", + "As is typical with cumulative preferred stock, dividend payments for this preferred stock must be current before dividends can be paid on junior shares, including our common stock, or junior shares can be repurchased or redeemed.", + "Also, the US Treasury\u2019s consent is required for any increase in common dividends per share above the most recent level prior to October 14, 2008 until the third anniversary of the preferred stock issuance as long as the US Treasury continues to hold any of the preferred stock.", + "Further, during that same period, the US Treasury\u2019s consent is required, unless the preferred stock is no longer held by the US Treasury, for any share repurchases with limited exceptions, most significantly purchases of common shares in connection with any benefit plan in the ordinary course of business consistent with past practice.", + "As part of the National City transaction, we issued 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L in exchange for National City\u2019s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F. Dividends are payable if and when declared each 1st of February, May, August and November.", + "Dividends will be paid at a rate of 9.875% prior to February 1, 2013 and at a rate of three-month LIBOR plus 633 basis points beginning February 1, 2013.", + "The Series L is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after February 1, 2013 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "Also as part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M, which mirrors in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. PNC has designated 5,751preferred shares, liquidation value $100,000 per share, for this series.", + "No shares have yet been issued; however, National City issued stock purchase contracts for 5,001 shares of its Series E Preferred Stock (now replaced by the PNC Series M as part of the National City transaction) to the National City Preferred Capital Trust I in connection with the issuance by that Trust of $500 million of 12.000% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the \u201cNormal APEX Securities\u201d) in January 2008 by the Trust.", + "It is expected that the Trust will purchase 5,001 of the Series M preferred shares pursuant to these stock purchase contracts on December 10, 2012 or on an earlier date and possibly as late as December 10, 2013.", + "The Trust has pledged the $500,100,000 principal amount of National City 8.729% Junior Subordinated Notes due 2043 held by the Trust and their proceeds to secure this purchase obligation.", + "If Series M shares are issued prior to December 10, 2012, any dividends on such shares will be calculated at a rate per annum equal to 12.000% until December 10, 2012, and thereafter, at a rate per annum that will be reset quarterly and will equal three-month LIBOR for the related dividend period plus 8.610%.", + "Dividends will be payable if and when declared by the Board at the dividend rate so indicated applied to the liquidation preference per share of the Series M Preferred Stock.", + "The Series M is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after December 10, 2012 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "As a result of the National City transaction, we assumed National City\u2019s obligations under replacement capital covenants with respect to (i) the Normal APEX Securities and our Series M shares and (ii) National City\u2019s 6,000,000 of Depositary Shares (each representing 1/4000th of an interest in a share of our 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L), whereby we agreed not to cause the redemption or repurchase of the Normal APEX or Depositary Shares, as applicable, or the underlying Preferred Stock and/or junior subordinated notes, as applicable, unless such repurchases or redemptions are made from the proceeds of the issuance of certain qualified securities and pursuant to the other terms and conditions set", + "amount of unrecognized tax benefit related to permanent differences because a portion of those unrecognized benefits relate to state tax matters.", + "It is reasonably possible that the liability for uncertain tax positions could increase or decrease in the next twelve months due to completion of tax authorities\u2019 exams or the expiration of statutes of limitations.", + "Management estimates that the liability for uncertain tax positions could decrease by $5 million within the next twelve months.", + "The consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries through 2003 have been audited by the Internal Revenue Service and we have resolved all disputed matters through the IRS appeals division.", + "The Internal Revenue Service is currently examining the 2004 through 2006 consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries.", + "The consolidated federal income tax returns of National City Corporation and subsidiaries through 2004 have been audited by the Internal Revenue Service and we have reached agreement in principle on resolution of all disputed matters through the IRS appeals division.", + "However, because the agreement is still subject to execution of a closing agreement we have not treated it as effectively settled.", + "The Internal Revenue Service is currently examining the 2005 through 2007 consolidated federal income tax returns of National City Corporation and subsidiaries, and we expect the 2008 federal income tax return to begin being audited as soon as it is filed.", + "New York, New Jersey, Maryland and New York City are principally where we were subject to state and local income tax prior to our acquisition of National City.", + "The state of New York is currently in the process of closing the 2002 to 2004 audit and will begin auditing the years 2005 and 2006.", + "New York City is currently auditing 2004 and 2005.", + "However, years 2002 and 2003 remain subject to examination by New York City pending completion of the New York state audit.", + "Through 2006, BlackRock is included in our New York and New York City combined tax filings and constituted most of the tax liability.", + "Years subsequent to 2004 remain subject to examination by New Jersey and years subsequent to 2005 remain subject to examination by Maryland.", + "National City was principally subject to state and local income tax in California, Florida, Illinois, Indiana, and Missouri.", + "Audits currently in process for these states include: California (2003-2004), Illinois (2004-2006) and Missouri (2003-2005).", + "We will now also be principally subject to tax in those states.", + "In the ordinary course of business we are routinely subject to audit by the taxing authorities of these states and at any given time a number of audits will be in process.", + "Our policy is to classify interest and penalties associated with income taxes as income taxes.", + "At January 1, 2008, we had accrued $91 million of interest related to tax positions, most of which related to our cross-border leasing transactions.", + "The total accrued interest and penalties at December 31, 2008 was $164 million.", + "While the leasing related interest decreased with a payment to the IRS, the $73 million net increase primarily resulted from our acquisition of National City.", + "NOTE 22 SUMMARIZED FINANCIAL INFORMATION OF BLACKROCK As required by SEC Regulation S-X, summarized consolidated financial information of BlackRock follows (in millions).", + "|December 31|2008|2007|\n|Total assets|$19,924|$22,561|\n|Total liabilities|$7,367|$10,387|\n|Non-controlling interest|491|578|\n|Stockholders\u2019 equity|12,066|11,596|\n|Total liabilities, non-controlling interest and stockholders\u2019 equity|$19,924|$22,561|\n|Year ended December 31|2008|2007|\n|Total revenue|$5,064|$4,845|\n|Total expenses|3,471|3,551|\n|Operating income|1,593|1,294|\n|Non-operating income (expense)|-574|529|\n|Income before income taxes and non-controlling interest|1,019|1,823|\n|Income taxes|388|464|\n|Non-controlling interest|-155|364|\n|Net income|$786|$995|\n", + "NOTE 23 REGULATORY MATTERS We are subject to the regulations of certain federal and state agencies and undergo periodic examinations by such regulatory authorities.", + "The access to and cost of funding new business initiatives including acquisitions, the ability to pay dividends, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in large part, on a financial institution\u2019s capital strength.", + "The minimum US regulatory capital ratios are 4% for tier 1 risk-based, 8% for total risk\u0002based and 4% for leverage.", + "However, regulators may require higher capital levels when particular circumstances warrant.", + "To qualify as \u201cwell capitalized,\u201d regulators require banks to maintain capital ratios of at least 6% for tier 1 risk-based, 10% for total risk-based and 5% for leverage.", + "At December 31, 2008 and December 31, 2007, each of our domestic bank subsidiaries met the \u201cwell capitalized\u201d capital ratio requirements.", + "We recorded such loans at estimated fair value and considered them to be performing, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), since certain purchase accounting adjustments will be accreted to interest income over time.", + "The accretion will represent the discount associated with the difference between the expected cash flows and estimated fair value of the loans.", + "This accounting treatment resulted in the return to performing status of $3.2 billion of loans previously classified as nonperforming by National City.", + "The purchase accounting adjustments were estimated as of December 31, 2008 and such estimates may be refined during the first quarter of 2009.", + "At December 31, 2008, our largest nonperforming asset was approximately $36 million and our average nonperforming loan associated with commercial lending was less than $1 million.", + "The amount of nonperforming loans that was current as to principal and interest was $555 million at December 31, 2008 and $178 million at December 31, 2007.", + "Accruing Loans Past Due 90 Days Or More- Summary", + "|| Amount| Percent of Total Outstandings|\n|Dollars in millions| Dec. 31 2008 (a)|Dec. 312007|Dec. 31 2008 (a)|Dec. 312007|\n|Commercial|$97|$14|.14%|.05%|\n|Commercial real estate|723|18|2.81|.20|\n|Equipment lease financing|2||.03||\n|Consumer|419|49|.80|.27|\n|Residential real estate|2,011|43|9.32|.45|\n|Other|7|12|.37|2.91|\n|Total|$3,259|$136|1.86%|.20%|\n", + "(a) Amounts include the impact of National City.", + "Loans that are not included in nonperforming or past due categories but cause us to be uncertain about the borrower\u2019s ability to comply with existing repayment terms over the next six months totaled $745 million at December 31, 2008, compared with $134 million at December 31, 2007.", + "Allowances For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit We maintain an allowance for loan and lease losses to absorb losses from the loan portfolio.", + "We determine the allowance based on quarterly assessments of the probable estimated losses inherent in the loan portfolio.", + "While we make allocations to specific loans and pools of loans, the total reserve is available for all loan and lease losses.", + "In addition to the allowance for loan and lease losses, we maintain an allowance for unfunded loan commitments and letters of credit.", + "We report this allowance as a liability on our Consolidated Balance Sheet.", + "We determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures.", + "This methodology is similar to the one we use for determining the adequacy of our allowance for loan and lease losses.", + "We refer you to Note 5 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report regarding changes in the allowance for loan and lease losses and in the allowance for unfunded loan commitments and letters of credit.", + "Also see the Allocation Of Allowance For Loan And Lease Losses table in the Statistical Information (Unaudited) section of Item 8 of this Report for additional information included herein by reference.", + "We establish specific allowances for loans considered impaired using a method prescribed by SFAS 114, \u201cAccounting by Creditors for Impairment of a Loan.", + "\u201d All impaired loans except leases and large groups of smaller\u0002balance homogeneous loans which may include but are not limited to credit card, residential mortgage, and consumer installment loans are subject to SFAS 114 analysis.", + "Specific allowances for individual loans over a set dollar threshold are determined by our Special Asset Committee based on an analysis of the present value of expected future cash flows from the loans discounted at their effective interest rate, observable market price, or the fair value of the underlying collateral.", + "We establish specific allowance on all other impaired loans based on the loss given default credit risk rating.", + "Allocations to non-impaired commercial and commercial real estate loans (pool reserve allocations) are assigned to pools of loans as defined by our business structure and are based on internal probability of default and loss given default credit risk ratings.", + "Key elements of the pool reserve methodology include: ?", + "Probability of default (\u201cPD\u201d), which is primarily based on historical default analyses and is derived from the borrower\u2019s internal PD credit risk rating; ?", + "Exposure at default (\u201cEAD\u201d), which is derived from historical default data; and ?", + "Loss given default (\u201cLGD\u201d), which is based on historical loss data, collateral value and other structural factors that may affect our ultimate ability to collect on the loan and is derived from the loan\u2019s internal LGD credit risk rating.", + "Our pool reserve methodology is sensitive to changes in key risk parameters such as PDs, LGDs and EADs.", + "In general, a given change in any of the major risk parameters will have a corresponding change in the pool reserve allocations for non-impaired commercial loans.", + "Our commercial loans are the largest category of credits and are most sensitive to changes in the key risk parameters and pool reserve loss rates.", + "To illustrate, if we increase the pool reserve loss rates by 5% for all categories of non-impaired commercial loans, then the" + ], + "question_id": "simplong-test-178", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of all elements for Total consumer recoveries that are range of 200 and 500 to the sum of elements, in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table VII Allowance for Credit Losses", + "|(Dollars in millions)|2016|2015|2014|2013|2012|\n|Allowance for loan and lease losses, January 1|$12,234|$14,419|$17,428|$24,179|$33,783|\n|Loans and leases charged off||||||\n|Residential mortgage|-403|-866|-855|-1,508|-3,276|\n|Home equity|-752|-975|-1,364|-2,258|-4,573|\n|U.S. credit card|-2,691|-2,738|-3,068|-4,004|-5,360|\n|Non-U.S. credit card|-238|-275|-357|-508|-835|\n|Direct/Indirect consumer|-392|-383|-456|-710|-1,258|\n|Other consumer|-232|-224|-268|-273|-274|\n|Total consumer charge-offs|-4,708|-5,461|-6,368|-9,261|-15,576|\n|U.S. commercial-1|-567|-536|-584|-774|-1,309|\n|Commercial real estate|-10|-30|-29|-251|-719|\n|Commercial lease financing|-30|-19|-10|-4|-32|\n|Non-U.S. commercial|-133|-59|-35|-79|-36|\n|Total commercial charge-offs|-740|-644|-658|-1,108|-2,096|\n|Total loans and leases charged off|-5,448|-6,105|-7,026|-10,369|-17,672|\n|Recoveries of loans and leases previously charged off||||||\n|Residential mortgage|272|393|969|424|165|\n|Home equity|347|339|457|455|331|\n|U.S. credit card|422|424|430|628|728|\n|Non-U.S. credit card|63|87|115|109|254|\n|Direct/Indirect consumer|258|271|287|365|495|\n|Other consumer|27|31|39|39|42|\n|Total consumer recoveries|1,389|1,545|2,297|2,020|2,015|\n|U.S. commercial-2|175|172|214|287|368|\n|Commercial real estate|41|35|112|102|335|\n|Commercial lease financing|9|10|19|29|38|\n|Non-U.S. commercial|13|5|1|34|8|\n|Total commercial recoveries|238|222|346|452|749|\n|Total recoveries of loans and leases previously charged off|1,627|1,767|2,643|2,472|2,764|\n|Net charge-offs|-3,821|-4,338|-4,383|-7,897|-14,908|\n|Write-offs of PCI loans|-340|-808|-810|-2,336|-2,820|\n|Provision for loan and lease losses|3,581|3,043|2,231|3,574|8,310|\n|Other-3|-174|-82|-47|-92|-186|\n|Allowance for loan and lease losses, December 31|11,480|12,234|14,419|17,428|24,179|\n|Less: Allowance included in assets of business held for sale-4|-243|\u2014|\u2014|\u2014|\u2014|\n|Total allowance for loan and lease losses, December 31|11,237|12,234|14,419|17,428|24,179|\n|Reserve for unfunded lending commitments, January 1|646|528|484|513|714|\n|Provision for unfunded lending commitments|16|118|44|-18|-141|\n|Other-3|100|\u2014|\u2014|-11|-60|\n|Reserve for unfunded lending commitments, December 31|762|646|528|484|513|\n|Allowance for credit losses, December 31|$11,999|$12,880|$14,947|$17,912|$24,692|\n", + "(1) Includes U. S. small business commercial charge-offs of $253 million, $282 million, $345 million, $457 million and $799 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(2) Includes U. S. small business commercial recoveries of $45 million, $57 million, $63 million, $98 million and $100 million in 2016, 2015, 2014, 2013 and 2012, respectively.", + "(3) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications.", + "(4) Represents allowance for loan and lease losses related to the non-U.", + "S. credit card loan portfolio, which is included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "Valuation Adjustments on Derivatives The Corporation records credit risk valuation adjustments on derivatives in order to properly reflect the credit quality of the counterparties and its own credit quality.", + "The Corporation calculates valuation adjustments on derivatives based on a modeled expected exposure that incorporates current market risk factors.", + "The exposure also takes into consideration credit mitigants such as enforceable master netting agreements and collateral.", + "CDS spread data is used to estimate the default probabilities and severities that are applied to the exposures.", + "Where no observable credit default data is available for counterparties, the Corporation uses proxies and other market data to estimate default probabilities and severity.", + "Valuation adjustments on derivatives are affected by changes in market spreads, non-credit related market factors such as interest rate and currency changes that affect the expected exposure, and other factors like changes in collateral arrangements and partial payments.", + "Credit spreads and non-credit factors can move independently.", + "For example, for an interest rate swap, changes in interest rates may increase the expected exposure, which would increase the counterparty credit valuation adjustment (CVA).", + "Independently, counterparty credit spreads may tighten, which would result in an offsetting decrease to CVA.", + "The Corporation early adopted, retrospective to January 1, 2015, the provision of new accounting guidance issued in January 2016 that requires the Corporation to record unrealized DVA resulting from changes in the Corporation\u2019s own credit spreads on liabilities accounted for under the fair value option in accumulated OCI.", + "This new accounting guidance had no impact on the accounting for DVA on derivatives.", + "For additional information, see New Accounting Pronouncements in Note 1 \u2013 Summary of Significant Accounting Principles.", + "The Corporation enters into risk management activities to offset market driven exposures.", + "The Corporation often hedges the counterparty spread risk in CVA with CDS.", + "The Corporation hedges other market risks in both CVA and DVA primarily with currency and interest rate swaps.", + "In certain instances, the net-of-hedge amounts in the table below move in the same direction as the gross amount or may move in the opposite direction.", + "This movement is a consequence of the complex interaction of the risks being hedged resulting in limitations in the ability to perfectly hedge all of the market exposures at all times.", + "The table below presents CVA, DVA and FVA gains (losses) on derivatives, which are recorded in trading account profits, on a gross and net of hedge basis for 2016, 2015 and 2014.", + "CVA gains reduce the cumulative CVA thereby increasing the derivative assets balance.", + "DVA gains increase the cumulative DVA thereby decreasing the derivative liabilities balance.", + "CVA and DVA losses have the opposite impact.", + "FVA gains related to derivative assets reduce the cumulative FVA thereby increasing the derivative assets balance.", + "FVA gains related to derivative liabilities increase the cumulative FVA thereby decreasing the derivative liabilities balance.", + "||2016|2015|2014|\n|(Dollars in millions)|Gross|Net|Gross|Net|Gross|Net|\n|Derivative assets (CVA)(1)|$374|$214|$255|$227|$-22|$191|\n|Derivative assets/liabilities (FVA)(1)|186|102|16|16|-497|-497|\n|Derivative liabilities (DVA)(1)|24|-141|-18|-153|-28|-150|\n", + "(1) At December 31, 2016, 2015 and 2014, cumulative CVA reduced the derivative assets balance by $1.0 billion, $1.4 billion and $1.6 billion, cumulative FVA reduced the net derivatives balance by $296 million, $481 million and $497 million, and cumulative DVA reduced the derivative liabilities balance by $774 million, $750 million and $769 million, respectively", + "NOTE 6 Securitizations and Other Variable Interest Entities The Corporation utilizes VIEs in the ordinary course of business to support its own and its customers\u2019 financing and investing needs.", + "The Corporation routinely securitizes loans and debt securities using VIEs as a source of funding for the Corporation and as a means of transferring the economic risk of the loans or debt securities to third parties.", + "The assets are transferred into a trust or other securitization vehicle such that the assets are legally isolated from the creditors of the Corporation and are not available to satisfy its obligations.", + "These assets can only be used to settle obligations of the trust or other securitization vehicle.", + "The Corporation also administers, structures or invests in other VIEs including CDOs, investment vehicles and other entities.", + "For more information on the Corporation\u2019s utilization of VIEs, see Note 1 \u2013 Summary of Significant Accounting Principles.", + "The tables in this Note present the assets and liabilities of consolidated and unconsolidated VIEs at December 31, 2016 and 2015, in situations where the Corporation has continuing involvement with transferred assets or if the Corporation otherwise has a variable interest in the VIE.", + "The tables also present the Corporation\u2019s maximum loss exposure at December 31, 2016 and 2015, resulting from its involvement with consolidated VIEs and unconsolidated VIEs in which the Corporation holds a variable interest.", + "The Corporation\u2019s maximum loss exposure is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments, such as unfunded liquidity commitments and other contractual arrangements.", + "The Corporation\u2019s maximum loss exposure does not include losses previously recognized through write-downs of assets.", + "As a result of new accounting guidance, which was effective on January 1, 2016, the Corporation identified certain limited partnerships and similar entities that are now considered to be VIEs and are included in the unconsolidated VIE tables in this Note at December 31, 2016.", + "The Corporation had a maximum loss exposure of $6.1 billion related to these VIEs, which had total assets of $16.7 billion.", + "The Corporation invests in ABS issued by third-party VIEs with which it has no other form of involvement and enters into certain commercial lending arrangements that may also incorporate the use of VIEs to hold collateral.", + "These securities and loans are included in Note 3 \u2013 Securities or Note 4 \u2013 Outstanding Loans and Leases.", + "In addition, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities.", + "For additional information, see Note 11 \u2013 Long-term Debt.", + "The Corporation uses VIEs, such as common trust funds managed within Global Wealth & Investment Management (GWIM), to provide investment opportunities for clients.", + "These VIEs, which are generally not consolidated by the Corporation, as applicable, are not included in the tables in this Note.", + "Except as described below, the Corporation did not provide financial support to consolidated or unconsolidated VIEs during 2016 or 2015 that it was not previously contractually required to provide, nor does it intend to do so.", + "First-lien Mortgage Securitizations First-lien Mortgages As part of its mortgage banking activities, the Corporation securitizes a portion of the first-lien residential mortgage loans it originates or purchases from third parties, generally in the form of RMBS guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or Government National Mortgage Association (GNMA) primarily in the case of FHA-insured and U. S. Department of Veterans Affairs (VA)-guaranteed mortgage loans.", + "Securitization usually occurs in conjunction with or shortly after origination or purchase, and the Corporation may also securitize loans held in its residential mortgage portfolio.", + "In addition, the Corporation may, from time to time, securitize commercial mortgages it originates or purchases from other entities.", + "The Corporation typically services the loans it securitizes.", + "Further, the Corporation may retain beneficial interests in the securitization trusts including senior and subordinate securities and equity tranches issued by the trusts.", + "Except as described below and in Note 7 \u2013 Representations and Warranties Obligations and Corporate Guarantees, the Corporation does not provide guarantees or recourse to the securitization trusts other than standard representations and warranties.", + "The table below summarizes select information related to first\u0002lien mortgage securitizations for 2016, 2015 and 2014.", + "||Residential Mortgage|||\n||Agency|Non-agency - Subprime|Commercial Mortgage|\n|(Dollars in millions)|2016|2015|2014|2016|2015|2014|2016|2015|2014|\n|Cash proceeds from new securitizations-1|$24,201|$27,164|$36,905|$\u2014|$\u2014|$809|$3,887|$7,945|$5,710|\n|Gain on securitizations-2|370|894|371|\u2014|\u2014|49|38|49|68|\n|Repurchases from securitization trusts-3|3,611|3,716|5,155|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n", + "(1) The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds.", + "(2) A majority of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option.", + "Gains recognized on these LHFS prior to securitization, which totaled $487 million, $750 million and $715 million net of hedges, during 2016, 2015 and 2014, respectively are not included in the table above.", + "(3) The Corporation may have the option to repurchase delinquent loans out of securitization trusts, which reduces the amount of servicing advances it is required to make.", + "The Corporation may also repurchase loans from securitization trusts to perform modifications.", + "The majority of repurchased loans are FHA-insured mortgages collateralizing GNMA securities.", + "In addition to cash proceeds as reported in the table above, the Corporation received securities with an initial fair value of $4.2 billion, $22.3 billion and $5.4 billion in connection with first-lien mortgage securitizations in 2016, 2015 and 2014.", + "The receipt of these securities represents non-cash operating and investing activities and, accordingly, is not reflected on the Consolidated Statement of Cash Flows.", + "All of these securities were initially classified as Level 2 assets within the fair value hierarchy.", + "During 2016, 2015 and 2014 there were no changes to the initial classification.", + "The Corporation recognizes consumer MSRs from the sale or securitization of first-lien mortgage loans.", + "Servicing fee and ancillary fee income on consumer mortgage loans serviced, including securitizations where the Corporation has continuing", + "The following table shows the major categories of ongoing claims for which the Company has been able to estimate its probable liability and for which the Company has taken reserves and the related insurance receivables:" + ], + "question_id": "simplong-test-179", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of the Additions to customer relationship and acquisition costs in the sections where Cash Flows from Operating Activities greater than 0?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "FHLB Advances and Other Borrowings FHLB Advances\u2014The Company had $0.7 billion in floating-rate and $0.2 billion in fixed-rate FHLB advances at both December 31, 2013 and 2012.", + "The floating-rate advances adjust quarterly based on the LIBOR.", + "During the year ended December 31, 2012, $650.0 million of fixed-rate FHLB advances were converted to floating-rate for a total cost of approximately $128 million which was capitalized and will be amortized over the remaining maturities using the effective interest method.", + "In addition, during the year ended December 31, 2012, the Company paid down in advance of maturity $1.0 billion of its FHLB advances and recorded $69.1 million in losses on the early extinguishment.", + "This loss was recorded in the gains (losses) on early extinguishment of debt line item in the consolidated statement of income (loss).", + "The Company did not have any similar transactions for the years ended December 31, 2013 and 2011.", + "As a condition of its membership in the FHLB Atlanta, the Company is required to maintain a FHLB stock investment currently equal to the lesser of: a percentage of 0.12% of total Bank assets; or a dollar cap amount of $20 million.", + "Additionally, the Bank must maintain an Activity Based Stock investment which is currently equal to 4.5% of the Bank\u2019s outstanding advances at the time of borrowing.", + "The Company had an investment in FHLB stock of $61.4 million and $67.4 million at December 31, 2013 and 2012, respectively.", + "The Company must also maintain qualified collateral as a percent of its advances, which varies based on the collateral type, and is further adjusted by the outcome of the most recent annual collateral audit and by FHLB\u2019s internal ranking of the Bank\u2019s creditworthiness.", + "These advances are secured by a pool of mortgage loans and mortgage-backed securities.", + "At December 31, 2013 and 2012, the Company pledged loans with a lendable value of $3.9 billion and $4.8 billion, respectively, of the one- to four-family and home equity loans as collateral in support of both its advances and unused borrowing lines.", + "Other Borrowings\u2014Prior to 2008, ETBH raised capital through the formation of trusts, which sold trust preferred securities in the capital markets.", + "The capital securities must be redeemed in whole at the due date, which is generally 30 years after issuance.", + "Each trust issued Floating Rate Cumulative Preferred Securities (\u201ctrust preferred securities\u201d), at par with a liquidation amount of $1,000 per capital security.", + "The trusts used the proceeds from the sale of issuances to purchase Floating Rate Junior Subordinated Debentures (\u201csubordinated debentures\u201d) issued by ETBH, which guarantees the trust obligations and contributed proceeds from the sale of its subordinated debentures to E*TRADE Bank in the form of a capital contribution.", + "The most recent issuance of trust preferred securities occurred in 2007.", + "The face values of outstanding trusts at December 31, 2013 are shown below (dollars in thousands):", + "|Trusts|Face Value|Maturity Date|Annual Interest Rate|\n|ETBH Capital Trust II|$5,000|2031|10.25%|\n|ETBH Capital Trust I|20,000|2031|3.75% above 6-month LIBOR|\n|ETBH Capital Trust V, VI, VIII|51,000|2032|3.25%-3.65% above 3-month LIBOR|\n|ETBH Capital Trust VII, IX\u2014XII|65,000|2033|3.00%-3.30% above 3-month LIBOR|\n|ETBH Capital Trust XIII\u2014XVIII, XX|77,000|2034|2.45%-2.90% above 3-month LIBOR|\n|ETBH Capital Trust XIX, XXI, XXII|60,000|2035|2.20%-2.40% above 3-month LIBOR|\n|ETBH Capital Trust XXIII\u2014XXIV|45,000|2036|2.10% above 3-month LIBOR|\n|ETBH Capital Trust XXV\u2014XXX|110,000|2037|1.90%-2.00% above 3-month LIBOR|\n|Total|$433,000|||\n", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 6.", + "Derivative Financial Instruments \u2014 (continued) The fair value of our derivative instruments classified as assets and liabilities was as follows:", + "| | Derivative assets -1| Derivative liabilities -2|\n| | December 31, 2009| December 31, 2008| December 31, 2009| December 31, 2008|\n| |(in millions) |\n| Derivatives designated as hedging instruments|||||\n|Interest rate contracts|$81.5|$250.8|$309.1|$819.2|\n|Foreign exchange contracts|444.4|410.8|240.6|300.4|\n|Total derivatives designated as hedging instruments|$525.9|$661.6|$549.7|$1,119.6|\n| Derivatives not designated as hedging instruments|||||\n|Interest rate contracts|$433.5|$802.1|$336.8|$621.5|\n|Foreign exchange contracts|107.5|121.3|75.0|155.1|\n|Equity contracts|149.8|222.1|\u2014|\u2014|\n|Credit contracts|15.5|70.7|84.0|227.2|\n|Other contracts|\u2014|\u2014|128.1|185.2|\n|Total derivatives not designated as hedging instruments|$706.3|$1,216.2|$623.9|$1,189.0|\n|Total derivative instruments|$1,232.2|$1,877.8|$1,173.6|$2,308.6|\n", + "(1) The fair value of derivative assets is reported with other investments on the consolidated statements of financial position.", + "(2) The fair value of derivative liabilities is reported with other liabilities on the consolidated statements of financial position, with the exception of certain embedded derivative liabilities.", + "Embedded derivative liabilities with a fair value of $23.6 million and $60.2 million as of December 31, 2009, and December 31, 2008, respectively, are reported with contractholder funds on the consolidated statements of financial position.", + "Credit Derivatives Sold When we sell credit protection, we are exposed to the underlying credit risk similar to purchasing a fixed maturity security instrument.", + "The majority of our credit derivative contracts sold reference a single name or reference security (referred to as \u2018\u2018single name credit default swaps\u2019\u2019).", + "The remainder of our credit derivatives reference either a basket or index of securities.", + "These instruments are either referenced in an over-the-counter credit derivative transaction, or embedded within an investment structure that has been fully consolidated into our financial statements.", + "These credit derivative transactions are subject to events of default defined within the terms of the contract, which normally consist of bankruptcy, failure to pay, or modified restructuring of the reference entity and/or issue.", + "If a default event occurs for a reference name or security, we are obligated to pay the counterparty an amount equal to the notional amount of the credit derivative transaction.", + "As a result, our maximum future payment is equal to the notional amount of the credit derivative.", + "In certain cases, we also have purchased credit protection with identical underlyings to certain of our sold protection transactions.", + "The effect of this purchased protection would reduce our total maximum future payments by $47.0 million and $60.8 million as of December 31, 2009, and December 31, 2008, respectively.", + "These credit derivative transactions had a net fair value of $2.4 million and $21.2 million as of December 31, 2009, and December 31, 2008, respectively.", + "Our potential loss could also be reduced by any amount recovered in the default proceedings of the underlying credit name.", + "We purchased certain investment structures with embedded credit features that are fully consolidated into our financial statements.", + "This consolidation results in recognition of the underlying credit derivatives and collateral within the structure, typically high quality fixed maturity securities that are owned by a special purpose vehicle.", + "These credit derivatives reference a single name or several names in a basket structure.", + "In the event of default, the collateral within the structure would typically be liquidated to pay the claims of the credit derivative counterparty.", + "Qorvo, Inc. and Subsidiaries Annual Report on Form 10-K 2019 Notes to Consolidated Financial Statements income to substantially offset the losses earned in prior years.", + "The balance of the cumulative pre-tax book loss was expected to be offset by income in the first half of fiscal 2018 as production at the assembly and test facility continued to increase as the Company reduced its dependence on outside assembly and test subcontractors.", + "After evaluating the positive and negative evidence, management determined that it was more likely than not that the deferred tax assets of this China manufacturing subsidiary would be realized and a valuation allowance would not be provided as of the end of fiscal 2017.", + "As of March 30, 2019, the Company had federal loss carryovers of approximately $39.6 million that expire in fiscal years 2020 to 2030 if unused and state losses of approximately $105.2 million that expire in fiscal years 2020 to 2039 if unused.", + "Federal research credits of $127.6 million, and state credits of $64.9 million may expire in fiscal years 2020 to 2039 and 2020 to 2037, respectively.", + "Foreign losses in the Netherlands of approximately $5.1 million expire in fiscal years 2020 to 2027.", + "Included in the amounts above may be certain net operating losses and other tax attribute assets acquired in conjunction with acquisitions in the current and prior years.", + "The utilization of acquired domestic assets is subject to certain annual limitations as required under Section 382 of the Internal Revenue Code of 1986, as amended (the \u201cCode\u201d) and similar state income tax provisions.", + "The Company has continued to expand its operations and increase its investments in numerous international jurisdictions.", + "These activities expose the Company to taxation in multiple foreign jurisdictions.", + "It is management\u2019s opinion that current and future undistributed foreign earnings will be permanently reinvested, except for the earnings of Qorvo International Pte.", + "Ltd. , our operating subsidiary in Singapore.", + "No provision for U. S. federal income, state income or foreign local withholding taxes has been made with respect to the undistributed earnings of any other foreign subsidiary.", + "It is not practical to estimate the additional tax that would be incurred, if any, if the permanently reinvested earnings were repatriated.", + "The Company has foreign subsidiaries with tax holiday agreements in Singapore and Costa Rica.", + "These tax holiday agreements have varying rates and expire in December 2021 and March 2024, respectively.", + "Incentives from these countries are subject to the Company meeting certain employment and investment requirements.", + "The Company does not expect that the Singapore legislation enacted in February 2017, which will exclude from the Company\u2019s existing Development and Expansion Incentive grant the benefit of the reduced tax rate for intellectual property income earned after June 30, 2021, will have an impact on the Company.", + "Income tax expense decreased by $34.6 million (an impact of approximately $0.28 and $0.27 per basic and diluted share, respectively) in fiscal 2019 and $7.9 million (an impact of approximately $0.06 per basic and diluted share) in fiscal 2018 as a result of these agreements.", + "The Company\u2019s gross unrecognized tax benefits totaled $103.2 million as of March 30, 2019, $122.8 million as of March 31, 2018, and $90.6 million as of April 1, 2017.", + "Of these amounts, $99.1 million (net of federal benefit of state taxes), $118.7 million (net of federal benefit of state taxes) and $84.4 million (net of federal benefit of state taxes) as of March 30, 2019, March 31, 2018, and April 1, 2017, respectively, represent the amounts of unrecognized tax benefits that, if recognized, would impact the effective tax rate in each of the fiscal years.", + "The Company\u2019s gross unrecognized tax benefits decreased from $122.8 million as of March 31, 2018 to $103.2 million as of March 30, 2019, primarily due to lapses of statutes of limitations, the conclusion of examinations by U. S. and Singapore tax authorities, the finalization of Regulations related to the Transitional Repatriation Tax, and finalization of the provisional estimates related to the impact of the Tax Act.", + "A reconciliation of fiscal 2017 through fiscal 2019 beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):", + "||Fiscal Year|\n||2019|2018|2017|\n|Beginning balance|$122,823|$90,615|$69,052|\n|Additions based on positions related to current year|7,193|26,431|20,036|\n|Additions for tax positions in prior years|8,369|5,844|1,878|\n|Reductions for tax positions in prior years|-24,932|-67|-29|\n|Expiration of statute of limitations|-6,972|\u2014|-322|\n|Settlements|-3,303|\u2014|\u2014|\n|Ending balance|$103,178|$122,823|$90,615|\n", + "It is the Company\u2019s policy to recognize interest and penalties related to uncertain tax positions as a component of income tax expense.", + "During fiscal years 2019, 2018 and 2017, the Company recognized", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2008 (In thousands, except share and per share data) 10.", + "Commitments and Contingencies a.", + "Leases Most of our leased facilities are leased under various operating leases that typically have initial lease terms of ten to fifteen years.", + "A majority of these leases have renewal options with one or more five year options to extend and may have fixed or Consumer Price Index escalation clauses.", + "We also lease equipment under operating leases, primarily computers which have an average lease life of three years.", + "Vehicles and office equipment are also leased and have remaining lease lives ranging from one to seven years.", + "Due to the declining economic environment in 2008, the current fair market values of vans, trucks and mobile shredding units within our vehicle fleet portfolio, which we lease, have declined.", + "As a result, certain vehicle leases that previously met the requirements to be considered operating leases were classified as capital leases upon renewal.", + "The 2008 impact of this change on our consolidated balance sheet as of December 31, 2008 was an increase in property, plant and equipment and debt of $58,517 and had no impact on 2008 operating results.", + "Future operating results will have lower vehicle rent expense (a component of transportation costs within cost of sales), offset by an increased amount of combined depreciation and interest expense in future periods.", + "Total rent expense (including common area maintenance charges) under all of our operating leases was $207,760, $240,833 and $280,360 (including $20,828 associated with vehicle leases which became capital leases in 2008) for the years ended December 31, 2006, 2007 and 2008, respectively.", + "Included in total rent expense was sublease income of $3,740, $4,973 and $5,341 for the years ended December 31, 2006, 2007 and 2008, respectively.", + "Estimated minimum future lease payments (excluding common area maintenance charges) include payments for certain renewal periods at our option because failure to renew results in an economic disincentive due to significant capital expenditure costs (e. g. , racking), thereby making it reasonably assured that we will renew the lease.", + "Such payments in effect at December 31, are as follows:", + "| Year| Operating Lease Payment| Sublease Income|Capital Leases|\n|2009|$225,290|$3,341|$28,608|\n|2010|201,315|1,847|27,146|\n|2011|191,588|1,223|19,116|\n|2012|186,600|1,071|25,489|\n|2013|181,080|988|9,419|\n|Thereafter|2,109,086|3,539|95,445|\n|Total minimum lease payments|$3,094,959|$12,009|$205,223|\n|Less amounts representing interest|||-73,536|\n|Present value of capital lease obligations|||$131,687|\n", + "We have guaranteed the residual value of certain vehicle operating leases to which we are a party.", + "The maximum net residual value guarantee obligation for these vehicles as of December 31, 2008 was $30,415.", + "Such amount does not take into consideration the recovery or resale value associated with these vehicles.", + "We believe that it is not reasonably likely that we will be required to perform under", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2012 (In thousands, except share and per share data) 5.", + "Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors (Continued", + "||Year Ended December 31, 2012|\n||Parent|Guarantors|Canada Company|Non- Guarantors|Eliminations|Consolidated|\n|Cash Flows from Operating Activities:|||||||\n|Cash Flows from Operating Activities-Continuing Operations|$-195,478|$496,542|$48,037|$94,551|$\u2014|$443,652|\n|Cash Flows from Operating Activities-Discontinued Operations|\u2014|-8,814|\u2014|-2,102|\u2014|-10,916|\n|Cash Flows from Operating Activities|-195,478|487,728|48,037|92,449|\u2014|432,736|\n|Cash Flows from Investing Activities:|||||||\n|Capital expenditures|\u2014|-134,852|-10,829|-95,002|\u2014|-240,683|\n|Cash paid for acquisitions, net of cash acquired|\u2014|-28,126|\u2014|-97,008|\u2014|-125,134|\n|Intercompany loans to subsidiaries|88,376|-110,142|\u2014|\u2014|21,766|\u2014|\n|Investment in subsidiaries|-37,572|-37,572|\u2014|\u2014|75,144|\u2014|\n|Investment in restricted cash|1,498|\u2014|\u2014|\u2014|\u2014|1,498|\n|Additions to customer relationship and acquisition costs|\u2014|-23,543|-2,132|-3,197|\u2014|-28,872|\n|Investment in joint ventures|-2,330|\u2014|\u2014|\u2014|\u2014|-2,330|\n|Proceeds from sales of property and equipment and other, net|\u2014|-1,739|5|3,191|\u2014|1,457|\n|Cash Flows from Investing Activities-Continuing Operations|49,972|-335,974|-12,956|-192,016|96,910|-394,064|\n|Cash Flows from Investing Activities-Discontinued Operations|\u2014|-1,982|\u2014|-4,154|\u2014|-6,136|\n|Cash Flows from Investing Activities|49,972|-337,956|-12,956|-196,170|96,910|-400,200|\n|Cash Flows from Financing Activities:|||||||\n|Repayment of revolving credit and term loan facilities and other debt|\u2014|-2,774,070|-3,069|-67,554|\u2014|-2,844,693|\n|Proceeds from revolving credit and term loan facilities and other debt|\u2014|2,680,107|\u2014|51,078|\u2014|2,731,185|\n|Early retirement of senior subordinated notes|-525,834|\u2014|\u2014|\u2014|\u2014|-525,834|\n|Net proceeds from sales of senior subordinated notes|985,000|\u2014|\u2014|\u2014|\u2014|985,000|\n|Debt financing (repayment to) and equity contribution from (distribution to) noncontrolling interests, net|\u2014|\u2014|\u2014|480|\u2014|480|\n|Intercompany loans from parent|\u2014|-89,878|714|110,930|-21,766|\u2014|\n|Equity contribution from parent|\u2014|37,572|\u2014|37,572|-75,144|\u2014|\n|Stock repurchases|-38,052|\u2014|\u2014|\u2014|\u2014|-38,052|\n|Parent cash dividends|-318,845|\u2014|\u2014|\u2014|\u2014|-318,845|\n|Proceeds from exercise of stock options and employee stock purchase plan|40,244|\u2014|\u2014|\u2014|\u2014|40,244|\n|Excess tax benefits from stock-based compensation|1,045|\u2014|\u2014|\u2014|\u2014|1,045|\n|Payment of debt finacing costs|-1,480|-781|\u2014|\u2014|\u2014|-2,261|\n|Cash Flows from Financing Activities-Continuing Operations|142,078|-147,050|-2,355|132,506|-96,910|28,269|\n|Cash Flows from Financing Activities-Discontinued Operations|\u2014|\u2014|\u2014|-39|\u2014|-39|\n|Cash Flows from Financing Activities|142,078|-147,050|-2,355|132,467|-96,910|28,230|\n|Effect of exchange rates on cash and cash equivalents|\u2014|\u2014|1,867|937|\u2014|2,804|\n|(Decrease) Increase in cash and cash equivalents|-3,428|2,722|34,593|29,683|\u2014|63,570|\n|Cash and cash equivalents, beginning of period|3,428|10,750|68,907|96,760|\u2014|179,845|\n|Cash and cash equivalents, end of period|$\u2014|$13,472|$103,500|$126,443|$\u2014|$243,415|\n", + "IRON MOUNTAIN INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) DECEMBER 31, 2014 (In thousands, except share and per share data) 2.", + "Summary of Significant Accounting Policies (Continued) Stock Options Under our various stock option plans, options are generally granted with exercise prices equal to the market price of the stock on the date of grant; however, in certain limited instances, options are granted at prices greater than the market price of the stock on the date of grant.", + "The majority of our options become exercisable ratably over a period of five years from the date of grant and generally have a contractual life of ten years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "Certain of the options we issue become exercisable ratably over a period of ten years from the date of grant and have a contractual life of 12 years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "As of December 31, 2014, ten-year vesting options represented 8.0% of total outstanding options.", + "Certain of the options we issue become exercisable ratably over a period of three years from the date of grant and have a contractual life of ten years from the date of grant, unless the holder\u2019s employment is terminated sooner.", + "As of December 31, 2014, three-year vesting options represented 34.3% of total outstanding options.", + "Our non-employee directors are considered employees for purposes of our stock option plans and stock option reporting.", + "Options granted to our non-employee directors generally become exercisable one year from the date of grant.", + "Our equity compensation plans generally provide that any unvested options and other awards granted thereunder shall vest immediately if an employee is terminated by the Company, or terminates his or her own employment for good reason (as defined in each plan), in connection with a vesting change in control (as defined in each plan).", + "On January 20, 2015, our stockholders approved the adoption of the Iron Mountain Incorporated 2014 Stock and Cash Incentive Plan (the \u2018\u20182014 Plan\u2019\u2019).", + "Under the 2014 Plan, the total amount of shares of common stock reserved and available for issuance pursuant to awards granted under the 2014 Plan is 7,750,000.", + "The 2014 Plan permits the Company to continue to grant awards through January 20, 2025.", + "A total of 43,253,839 shares of common stock have been reserved for grants of options and other rights under our various stock incentive plans, including the 2014 Plan.", + "The number of shares available for grant under our various stock incentive plans, not including the 2014 Plan, at December 31, 2014 was 4,581,754.", + "The weighted average fair value of options granted in 2012, 2013 and 2014 was $7.00, $7.69 and $5.70 per share, respectively.", + "These values were estimated on the date of grant using the Black-Scholes option pricing model." + ], + "question_id": "simplong-test-180", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Deposits with banks Average volume, what's the increasing rate of Deposits with banks Average volume?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "As of December 31, 2009, approximately $6.7 billion of stock repurchases remained under Citi\u2019s authorized repurchase programs.", + "No material repurchases were made in 2009 or 2008.", + "In addition, for so long as the U. S. government holds any Citigroup common stock or trust preferred securities acquired pursuant to the preferred stock exchange offers, Citigroup has agreed not to acquire, repurchase, or redeem any Citigroup equity or trust preferred securities, other than pursuant to administering its employee benefit plans or other customary exceptions, or with the consent of the U. S. government.", + "See also \u201cSupervision and Regulation.", + "\u201d Tangible Common Equity TCE, as defined by Citigroup, represents Common equity less Goodwill and Intangible assets (other than Mortgage Servicing Rights (MSRs)) net of the related net deferred taxes.", + "Other companies may calculate TCE in a manner different from that of Citigroup.", + "Citi\u2019s TCE was $118.2 billion and $31.1 billion at December 31, 2009 and 2008, respectively.", + "The TCE ratio (TCE divided by risk-weighted assets) was 10.9% and 3.1% at December 31, 2009 and 2008, respectively.", + "A reconciliation of Citigroup\u2019s total stockholders\u2019 equity to TCE follows:", + "|In millions of dollars at year end, except ratios|2009|2008|\n|Total Citigroup stockholders\u2019 equity|$152,700|$141,630|\n|Less:|||\n|Preferred stock|312|70,664|\n|Common equity|$152,388|$70,966|\n|Less:|||\n|Goodwill|25,392|27,132|\n|Intangible assets (other than MSRs)|8,714|14,159|\n|Related net deferred taxes|68|-1,382|\n|Tangible common equity (TCE)|$118,214|$31,057|\n|Tangible assets|||\n|GAAP assets|$1,856,646|$1,938,470|\n|Less:|||\n|Goodwill|25,392|27,132|\n|Intangible assets (other than MSRs)|8,714|14,159|\n|Related deferred tax assets|386|1,285|\n|Tangible assets (TA)|$1,822,154|$1,895,894|\n|Risk-weighted assets (RWA)|$1,088,526|$996,247|\n|TCE/TA ratio|6.49%|1.64%|\n|TCE ratio(TCE/RWA)|10.86%|3.12%|\n", + "Capital Resources of Citigroup\u2019s Depository Institutions Citigroup\u2019s U. S. subsidiary depository institutions are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies, which are similar to the guidelines of the Federal Reserve Board.", + "To be \u201cwell capitalized\u201d under these regulatory definitions, Citigroup\u2019s depository institutions must have a Tier 1 Capital ratio of at least 6%, a Total Capital (Tier 1 Capital + Tier 2 Capital) ratio of at least 10%, and a Leverage ratio of at least 5%, and not be subject to a regulatory directive to meet and maintain higher capital levels.", + "At December 31, 2009, all of Citigroup\u2019s subsidiary depository institutions were \u201cwell capitalized\u201d under federal bank regulatory agency definitions, including Citigroup\u2019s primary depository institution, Citibank, N. A. , as noted in the following table: Citibank, N. A.", + "Components of Capital and Ratios Under Regulatory Guidelines", + "|In billions of dollars at year end|2009|2008|\n|Tier 1 Capital|$96.8|$71.0|\n|Total Capital (Tier 1 Capital and Tier 2 Capital)|110.6|108.4|\n|Tier 1 Capital ratio|13.16%|9.94%|\n|Total Capital ratio|15.03|15.18|\n|Leverage ratio-1|8.31|5.82|\n", + "(1) Tier 1 Capital divided by each period\u2019s quarterly adjusted average total assets.", + "Citibank, N. A. had a $2.8 billion net loss for 2009.", + "In addition, during 2009, Citibank, N. A. received capital contributions from its immediate parent company, Citicorp, in the amount of $33.0 billion.", + "Total subordinated notes issued to Citibank, N. A.", + "\u2019s immediate parent company, Citicorp, included in Citibank, N. A.", + "\u2019s Tier 2 Capital declined from $28.2 billion outstanding at December 31, 2008 to $4.0 billion outstanding at December 31, 2009, reflecting the redemption of $24.2 billion of subordinated notes during 2009.", + "then-current assessment base in the quarter determined by the FDIC.", + "If the FDIC were to adopt this approach, Citi estimates the net impact to Citibank would be approximately $900 million, based on its current assessment base.", + "As an alternative to either of the proposals put forth by the FDIC, in commenting on the FDIC\u9225\u6a9a notice of proposed rulemaking, industry groups recommended that in lieu of any surcharge on large banks, the FDIC maintain the assessment rate framework in effect as of year-end 2015 until the reserve ratio reaches 1.35%, which would be expected to occur by year-end 2019 (and within the timeframe required under the Dodd-Frank Act).", + "It is not certain when the FDIC\u9225\u6a9a proposal will be finalized and what the ultimate impact will be to Citi.", + "Additional Interest Rate Details Average Balances and Interest Rates\u9225\u64dcssets(1)(2)(3)(4)", + "||Average volume|Interest revenue|% Average rate|\n|In millions of dollars, except rates|2015|2014|2013|2015|2014|2013|2015|2014|2013|\n|Assets||||||||||\n|Deposits with banks-5|$133,790|$161,359|$144,904|$727|$959|$1,026|0.54%|0.59%|0.71%|\n|Federal funds sold and securities borrowed or purchased under agreements to resell-6||||||||||\n|In U.S. offices|$150,359|$153,688|$158,237|$1,211|$1,034|$1,133|0.81%|0.67%|0.72%|\n|In offices outside the U.S.-5|84,006|101,177|109,233|1,305|1,332|1,433|1.55|1.32|1.31|\n|Total|$234,365|$254,865|$267,470|$2,516|$2,366|$2,566|1.07%|0.93%|0.96%|\n|Trading account assets-7(8)||||||||||\n|In U.S. offices|$114,639|$114,910|$126,123|$3,945|$3,472|$3,728|3.44%|3.02%|2.96%|\n|In offices outside the U.S.-5|103,348|119,801|127,291|2,141|2,538|2,683|2.07|2.12|2.11|\n|Total|$217,987|$234,711|$253,414|$6,086|$6,010|$6,411|2.79%|2.56%|2.53%|\n|Investments||||||||||\n|In U.S. offices||||||||||\n|Taxable|$214,714|$188,910|$174,084|$3,812|$3,286|$2,713|1.78%|1.74%|1.56%|\n|Exempt from U.S. income tax|20,034|20,386|18,075|443|626|811|2.21|3.07|4.49|\n|In offices outside the U.S.-5|102,376|113,163|114,122|3,071|3,627|3,761|3.00|3.21|3.30|\n|Total|$337,124|$322,459|$306,281|$7,326|$7,539|$7,285|2.17%|2.34%|2.38%|\n|Loans (net of unearned income)(9)||||||||||\n|In U.S. offices|$354,439|$361,769|$354,707|$24,558|$26,076|$25,941|6.93%|7.21%|7.31%|\n|In offices outside the U.S.-5|273,072|296,656|292,852|15,988|18,723|19,660|5.85|6.31|6.71|\n|Total|$627,511|$658,425|$647,559|$40,546|$44,799|$45,601|6.46%|6.80%|7.04%|\n|Other interest-earning assets-10|$55,060|$40,375|$38,233|$1,839|$507|$602|3.34%|1.26%|1.57%|\n|Total interest-earning assets|$1,605,837|$1,672,194|$1,657,861|$59,040|$62,180|$63,491|3.68%|3.72%|3.83%|\n|Non-interest-earning assets-7|$218,000|$224,721|$222,526|||||||\n|Total assets from discontinued operations|\u2014|\u2014|2,909|||||||\n|Total assets|$1,823,837|$1,896,915|$1,883,296|||||||\n", + "Net interest revenue includes the taxable equivalent adjustments related to the tax-exempt bond portfolio (based on the U. S. federal statutory tax rate of 35%) of $487 million, $498 million and $521 million for 2015, 2014 and 2013, respectively.", + "Interest rates and amounts include the effects of risk management activities associated with the respective asset categories.", + "Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.", + "Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations.", + "See Note 2 to the Consolidated Financial Statements.", + "Average rates reflect prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.", + "Average volumes of securities borrowed or purchased under agreements to resell are reported net pursuant to ASC 210-20-45.", + "However, Interest revenue excludes the impact of ASC 210-20-45.", + "The fair value carrying amounts of derivative contracts are reported net, pursuant to ASC 815-10-45, in Non-interest-earning assets and Other non-interest\u0002 bearing liabilities.", + "Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue.", + "Interest revenue and Interest expense on cash collateral positions are reported in interest on Trading account assets and Trading account liabilities, respectively.", + "Includes cash-basis loans.", + "Includes brokerage receivables.", + "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\u2019 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\u2014State Delinquency Trends The following tables set forth the six U. S. states and/or regions with the highest concentration of Citi\u2019s residential first mortgages.", + "|In billions of dollars|December 31, 2015|December 31, 2014|\n|State-1|ENR-2|ENRDistribution|90+DPD%|%LTV >100%-3|RefreshedFICO|ENR-2|ENRDistribution|90+DPD%|%LTV >100%-3|RefreshedFICO|\n|CA|$19.2|37%|0.2%|1%|754|$18.9|31%|0.6%|2%|745|\n|NY/NJ/CT-4|12.7|25|0.8|1|751|12.2|20|1.9|2|740|\n|VA/MD|2.2|4|1.2|2|719|3.0|5|3.0|8|695|\n|IL-4|2.2|4|1.0|3|735|2.5|4|2.5|9|713|\n|FL-4|2.2|4|1.1|4|723|2.8|5|3.0|14|700|\n|TX|1.9|4|1.0|\u2014|711|2.5|4|2.7|\u2014|680|\n|Other|11.0|21|1.3|2|710|18.2|30|3.3|7|677|\n|Total-5|$51.5|100%|0.7%|1%|738|$60.1|100%|2.1%|4%|715|\n", + "Note: Totals may not sum due to rounding.", + "(1) Certain of the states are included as part of a region based on Citi\u2019s 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\u2019s foreclosure inventory consists of residential first mortgages.", + "At December 31, 2015, Citi\u2019s foreclosure inventory included approximately $0.1 billion, or 0.2%, of the total residential first mortgage portfolio, compared to $0.6 billion, or 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 \u2014Net Credit Losses and Delinquencies\u2014Home Equity Loans Citi\u2019s 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\u2019s 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)." + ], + "question_id": "simplong-test-181", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Group retirement products of Net Investment Income, Cash at end of year of 2011, and Cash at end of year of 2010 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Continued Domestic Retirement Services Results Domestic Retirement Services results, presented on a sub-product basis for 2007, 2006 and 2005 were as follows:", + "|(in millions)|Premiums and Other Considerations|Net Investment Income|Net Realized Capital Gains (Losses)|Total Revenues|Operating Income|\n| 2007||||||\n|Group retirement products|$446|$2,280|$-451|2,275|$696|\n|Individual fixed annuities|96|3,664|-829|2,931|530|\n|Individual variable annuities|627|166|-45|748|122|\n|Individual annuities \u2014 runoff*|21|387|-83|325|-1|\n|Total|$1,190|$6,497|$-1,408|$6,279|$1,347|\n|2006||||||\n|Group retirement products|$386|$2,279|$-144|$2,521|$1,017|\n|Individual fixed annuities|122|3,581|-257|3,446|1,036|\n|Individual variable annuities|531|202|5|738|193|\n|Individual annuities \u2014 runoff*|18|426|-8|436|77|\n|Total|$1,057|$6,488|$-404|$7,141|$2,323|\n|2005||||||\n|Group retirement products|$351|$2,233|$-67|$2,517|$1,055|\n|Individual fixed annuities|97|3,346|-214|3,229|858|\n|Individual variable annuities|467|217|4|688|189|\n|Individual annuities \u2014 runoff*|22|430|\u2014|452|62|\n|Total|$937|$6,226|$-277|$6,886|$2,164|\n| Percentage Increase/(Decrease) 2007 vs. 2006:||||||\n|Group retirement products|16%|\u2014%|\u2014%|-10%|-32%|\n|Individual fixed annuities|-21|2|\u2014|-15|-49|\n|Individual variable annuities|18|-18|\u2014|1|-37|\n|Individual annuities \u2014 runoff|17|-9|\u2014|-25|\u2014|\n|Total|13%|\u2014%|\u2014%|-12%|-42%|\n|Percentage Increase/(Decrease) 2006 vs. 2005:||||||\n|Group retirement products|10%|2%|\u2014%|\u2014%|-4%|\n|Individual fixed annuities|26|7|\u2014|7|21|\n|Individual variable annuities|14|-7|25|7|2|\n|Individual annuities \u2014 runoff|-18|-1|\u2014|-4|24|\n|Total|13%|4%|\u2014%|4%|7%|\n", + "* Primarily represents runoff annuity business sold through discontinued distribution relationships.2007 and 2006 Comparison Total revenues and operating income for Domestic Retirement Services declined in 2007 compared to 2006 primarily due to increased net realized capital losses.", + "Net realized capital losses for Domestic Retirement Services increased due to higher other- than-temporary impairmentcharges of$1.2 billion in 2007 compared to $368 million in 2006 and sales to reposition assets in certain investment portfolios for both group retirement products and individual ?xed annuities, as well as from changes in the value of certain individual variable annuity product guarantees and related hedges associated with living bene?t features.", + "Changes in actuarial estimates, including DAC unlockingsand re?nements to estimates resulting from actuarial valuation system enhance- ments, resulted in a net decrease to operating income of $112 million in 2007.", + "Group retirement products operating income in 2007 de- creased compared to 2006 primarily as a result of increased net realized capital losses due to higher other-than-temporary impair- mentcharges and an increase in DAC amortization related to both an increase in surrenders and to policy changes adding guaran- teed minimum withdrawal bene?t riders to existing contracts.", + "Operating income was also negatively affected in 2007 by an $18 million adjustment,primarily re?ecting changes in actuarial estimates from the conversion to a new valuation system.", + "These were partially offset by higher variable annuity fees which resulted from an increase in separate account assets compared to 2006.", + "Individual ?xed annuities operating income in 2007 decreased compared to 2006 as a result of net realized capital losses due to higher other-than-temporary impairmentcharges partially offset by increases in partnership income.", + "The decline in operating income also re?ected higher DAC amortization and sales induce-ment costs related to increased surrenders and a $33 million charge re?ecting changes in actuarial estimates from the conver-", + "American International Group, Inc. , and Subsidiaries Expected Loss Models \u2014 Under this mechanism, the amount of collateral to be posted is determined based on the amount of expected credit losses, generally determined using a rating-agency model.", + "Negotiated Amount \u2014 Under this mechanism, the amount of collateral to be posted is determined based on terms negotiated between AIGFP and the counterparty, which could be a fixed percentage of the notional amount or present value of premiums to be earned by AIGFP.", + "The following table presents the amount of collateral postings by underlying mechanism as described above with respect to the regulatory capital relief portfolio (prior to consideration of transactions other than the Capital Markets super senior credit default swaps subject to the same Master Agreements) as of the periods ended:", + "|(in millions)|December 31, 2009|December 31, 2010|February 16, 2011|\n|Reference to market indices|$60|$19|$10|\n|Expected loss models|20|-|-|\n|Negotiated amount|230|217|216|\n|Total|$310|$236|$226|\n", + "Arbitrage Portfolio \u2014 Multi-Sector CDOs In the CDS transactions with physical settlement provisions, in respect of multi-sector CDOs, the standard CSA provisions for the calculation of exposure have been modified, with the exposure amount determined pursuant to an agreed formula that is based on the difference between the net notional amount of such transaction and the market value of the relevant underlying CDO security, rather than the replacement value of the transaction.", + "As of any date, the \u2018\u2018market value\u2019\u2019 of the relevant CDO security is the price at which a marketplace participant would be willing to purchase such CDO security in a market transaction on such date, while the \u2018\u2018replacement value of the transaction\u2019\u2019 is the cost on such date of entering into a credit default swap transaction with substantially the same terms on the same referenced obligation (e. g. , the CDO security).", + "In cases where a formula is utilized, a transaction-specific threshold is generally factored into the calculation of exposure, which reduces the amount of collateral required to be posted.", + "These thresholds typically vary based on the credit ratings of AIG and/or the reference obligations, with greater posting obligations arising in the context of lower ratings.", + "For the large majority of counterparties to these transactions, the Master Agreement and CSA cover non-CDS transactions (e. g. , interest rate and cross currency swap transactions) as well as CDS transactions.", + "As a result, the amount of collateral to be posted by AIGFP in relation to the CDS transactions will be added to or offset by the amount, if any, of the exposure AIG has to the counterparty on the non-CDS transactions.", + "Arbitrage Portfolio \u2014 Corporate Debt/CLOs All of the Capital Markets corporate arbitrage-CLO transactions are subject to CSAs.", + "These transactions are treated the same as other transactions subject to the same Master Agreement and CSA, with the calculation of collateral in accordance with the standard CSA procedures outlined above.", + "The vast majority of corporate debt transactions are no longer subject to future collateral postings.", + "In exchange for an upfront payment to an intermediary counterparty, AIGFP has eliminated all future obligations to post collateral on corporate debt transactions that mature after 2011.", + "Collateral Calls AIGFP has received collateral calls from counterparties in respect of certain super senior credit default swaps, of which a large majority relate to multi-sector CDOs.", + "To a lesser extent, AIGFP has also received collateral calls in respect of certain super senior credit default swaps entered into by counterparties for regulatory capital relief purposes and in respect of corporate arbitrage.", + "From time to time, valuation methodologies used and estimates made by counterparties with respect to certain super senior credit default swaps or the underlying reference CDO securities, for purposes of determining the", + "ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES The following table presents a summary of AIG\u2019s Consolidated Statement of Cash Flows:", + "| Years Ended December 31, (in millions) |2012|2011|2010|\n|Summary:||||\n|Net cash provided by (used in) operating activities|$3,676|$-81|$16,597|\n|Net cash provided by (used in) investing activities|16,612|36,448|-9,912|\n|Net cash used in financing activities|-20,564|-36,926|-9,261|\n|Effect of exchange rate changes on cash|16|29|39|\n|Decrease in cash|-260|-530|-2,537|\n|Cash at beginning of year|1,474|1,558|4,400|\n|Change in cash of businesses held for sale|-63|446|-305|\n|Cash at end of year|$1,151|$1,474|$1,558|\n", + "Operating Cash Flow Activities Interest payments totaled $4.0 billion in 2012 compared to $9.0 billion in 2011.", + "Cash paid for interest in 2011 includes the payment of FRBNY Credit Facility accrued compounded interest totaling $6.4 billion.", + "Excluding interest payments, AIG generated positive operating cash flow of $7.7 billion and $8.9 billion in 2012 and 2011, respectively.", + "Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits.", + "The ability of insurance companies to generate positive cash flow is affected by the frequency and severity of losses under their insurance policies, policy retention rates and operating expenses.", + "Cash provided by AIG Property Casualty operating activities was $1.1 billion in 2012 compared to $1.9 billion in 2011, primarily reflecting the decrease in net premiums written as a result of the continued execution of strategic initiatives to improve business mix and the timing of the cash flows used to pay claims and claims adjustment expenses and the related reinsurance recoveries.", + "Cash provided by operating activities by AIG Life and Retirement was $2.9 billion in 2012 compared to $2.4 billion in 2011, primarily reflecting efforts to actively manage spread income.", + "Cash provided by operating activities of discontinued operations of $2.9 billion in 2012 compared to $6.2 billion in 2011, includes ILFC, and in 2011 and 2010, foreign life insurance subsidiaries that were divested in 2011, including Nan Shan, AIG Star and AIG Edison.", + "Net cash provided by operating activities declined in 2011 compared to 2010, principally due to the following: ?", + "the cash payment by AIG Parent of $6.4 billion in accrued compounded interest and fees under the FRBNY Credit Facility.", + "In prior periods, these payments were paid in-kind and did not affect operating cash flows; ?", + "cash provided by operating activities of foreign life subsidiaries declined by $10.4 billion due to the sale of those subsidiaries (AIA, ALICO, AIG Star, AIG Edison and Nan Shan).", + "The subsidiaries generated operational cash inflows of $3.4 billion and $13.8 billion in 2011 and 2010, respectively; and ?", + "the effect of catastrophes and the cession of a large portion of AIG Property Casualty\u2019s net asbestos liabilities in the U. S. to NICO.", + "Excluding the impact of the NICO cession and catastrophes, cash provided by AIG\u2019s reportable segments in 2011 is consistent with 2010, as increases in claims paid were offset by increases in premiums collected at the insurance subsidiaries.", + "Investing Cash Flow Activities Net cash provided by investing activities for 2012 includes the following items: ?", + "payments received relating to the sale of the underlying assets held by ML II of approximately $1.6 billion; ?", + "payments of approximately $8.5 billion received in connection with the dispositions of ML III assets by the FRBNY;", + "ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE low interest rate environment, partially offset by growth in average assets.", + "See MD&A \u2013 Investments \u2013 Life Insurance Companies for additional information on the investment strategy, asset-liability management process and invested assets of our Life Insurance Companies, which include the invested assets of the Institutional Markets business.", + "General operating expenses in 2014 increased slightly compared to 2013, primarily due to investments in technology.2013 and 2012 Comparison Pre-tax operating income for 2013 increased compared to 2012, due in part to higher net investment income from alternative investments, partially offset by lower base net investment income.", + "Interest credited to policyholder account balances in 2012 included $110 million of expense resulting from a comprehensive review of reserves for the GIC portfolio.", + "Results for 2013 included a full year of the growing stable value wrap business, which contributed $31 million to the increase in pre-tax operating income compared to 2012.", + "Stable value wrap notional assets under management grew to $24.6 billion at December 31, 2013 from $10.4 billion at December 31, 2012, including the notional amount of contracts transferred from an AIG affiliate.", + "Net investment income for 2013 increased slightly compared to 2012, primarily due to higher net investment income from alternative investments, largely offset by lower income from the base portfolio.", + "The increase in alternative investment income in 2013 compared to 2012 reflected higher hedge fund income due to favorable equity market conditions.", + "The decrease in base net income was primarily due to investment of available cash, including proceeds from sales of securities made during 2013 to utilize capital loss carryforwards, at rates below the weighted average yield of the overall portfolio.", + "General operating expenses in 2013 increased compared to 2012, primarily to support increased volume in the stable value wrap business.", + "Institutional Markets Premiums, Deposits and Net Flows For Institutional Markets, premiums represent amounts received on traditional life insurance policies and life-contingent payout annuities or structured settlements.", + "Premiums and deposits is a non-GAAP financial measure that includes direct and assumed premiums as well as deposits received on universal life insurance and investment-type annuity contracts, including GICs and stable value wrap funding agreements.", + "The following table presents a reconciliation of Institutional Markets premiums and deposits to GAAP premiums:", + "|(in millions)|2014|2013|2012|\n|Premiums and deposits|$3,797|$991|$774|\n|Deposits|-3,344|-354|-289|\n|Other|-21|-27|-27|\n|Premiums|$432|$610|$458|\n", + "The decrease in premiums in 2014 compared to 2013 was primarily due to a high volume of single-premium products sold in 2013, including life-contingent payout annuities.", + "Sales of these products decreased in 2014 compared to 2013 due to a more competitive environment as well as continued low interest rates.", + "The increase in deposits in 2014 compared to 2013 included a $2.5 billion deposit to the separate accounts of one of the Life Insurance Companies for a stable value wrap funding agreement.", + "The majority of stable value wrap sales are measured based on the notional amount included in assets under management, but do not include the receipt of funds that would be included in premiums and deposits.", + "The increase in deposits in 2014 compared to 2013 also reflected a $450 million GIC issued in 2014.", + "The increase in premiums in 2013 compared to 2012 reflected a high volume of single-premium product sales in 2013, including structured settlements with life contingencies and terminal funding annuities.", + "The increase in deposits in 2013 compared to 2012 reflected strong sales of high net worth products, primarily private placement variable annuities." + ], + "question_id": "simplong-test-182", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "containerboards net sales represented what percentage of industrial packaging sales in 2005?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The calculation of earnings per common share and diluted earnings per common share for 2004, 2003 and 2002 is presented below.", + "See Note 1 of the Consolidated Financial Statements for a discus\u0002sion on the calculation of earnings per common share.", + "| (Dollars in millions, except per share information; shares in thousands)|2004|2003|2002|\n| Earnings per common share||||\n|Net income|$14,143|$10,810|$9,249|\n|Preferred stock dividends|-16|-4|-5|\n|Net income available to common shareholders|$14,127|$10,806|$9,244|\n|Average common shares issued and outstanding|3,758,507|2,973,407|3,040,085|\n| Earnings per common share|$3.76|$3.63|$3.04|\n| Diluted earnings per common share||||\n|Net income available to common shareholders|$14,127|$10,806|$9,244|\n|Convertible preferred stock dividends|2|4|5|\n|Net income available to common shareholders and assumed conversions|$14,129|$10,810|$9,249|\n|Average common shares issued and outstanding|3,758,507|2,973,407|3,040,085|\n|Dilutive potential common shares-1, 2|65,436|56,949|90,850|\n|Total diluted average common shares issued and outstanding|3,823,943|3,030,356|3,130,935|\n| Diluted earnings per common share|$3.69|$3.57|$2.95|\n", + "(1) For 2004, 2003 and 2002, average options to purchase 10 million, 19 million and 45 million shares, respectively, were outstanding but not included in the computation of earnings per common share because they were antidilutive.", + "(2) Includes incremental shares from assumed conversions of convertible preferred stock, restricted stock units, restricted stock shares and stock options.", + "Note 14 Regulatory Requirements and Restrictions The Board of Governors of the Federal Reserve System (FRB) requires the Corporation\u2019s banking subsidiaries to maintain reserve balances based on a percentage of certain deposits.", + "Average daily reserve bal\u0002ances required by the FRB were $6.9 billion and $4.1 billion for 2004 and 2003, respectively.", + "Currency and coin residing in branches and cash vaults (vault cash) are used to partially satisfy the reserve requirement.", + "The average daily reserve balances, in excess of vault cash, held with the Federal Reserve Bank amounted to $70 million and $317 million for 2004 and 2003, respectively.", + "The primary source of funds for cash distributions by the Corporation to its shareholders is dividends received from its bank\u0002ing subsidiaries.", + "Bank of America, N. A. and Fleet National Bank declared and paid dividends of $5.9 billion and $1.3 billion, respec\u0002tively, for 2004 to the parent.", + "In 2005, Bank of America, N. A. and Fleet National Bank can declare and pay dividends to the parent of $4.7 billion and $790 million plus an additional amount equal to their net profits for 2005, as defined by statute, up to the date of any such dividend declaration.", + "The other subsidiary national banks can initiate aggregate dividend payments in 2005 of $2.6 billion plus an addi\u0002tional amount equal to their net profits for 2005, as defined by statute, up to the date of any such dividend declaration.", + "The amount of dividends that each subsidiary bank may declare in a calendar year without approval by the OCC is the subsidiary bank\u2019s net profits for that year combined with its net retained profits, as defined, for the preceding two years.", + "The FRB, the OCC and the Federal Deposit Insurance Corporation (collectively, the Agencies) have issued regulatory capital guidelines for U. S. banking organizations.", + "Failure to meet the capital requirements can initiate certain mandatory and discretionary actions by regulators that could have a material effect on the Corporation\u2019s financial statements.", + "At December 31, 2004 and 2003, the Corporation and Bank of America, N. A. were classified as well-capitalized under this regulatory framework.", + "At December 31, 2004, Fleet National Bank was classified as well-capitalized under this regulatory framework.", + "There have been no conditions or events since December 31, 2004 that management believes have changed the Corporation\u2019s, Bank of America, N. A.", + "\u2019s or Fleet National Bank\u2019s capital classifications.", + "|| December 31| Average Balance|\n|(Dollars in millions)| 2007|2006| 2007|2006|\n|Total loans and leases|$359,946|$307,661|$327,810|$288,131|\n|Total earning assets-1|383,384|343,338|353,591|344,013|\n|Total assets-1|442,987|399,373|408,034|396,559|\n|Total deposits|344,850|329,195|328,918|332,242|\n", + "The strategy for GCSBB is to attract, retain and deepen customer relationships.", + "We achieve this strategy through our ability to offer a wide range of products and services through a franchise that stretches coast to coast through 32 states and the District of Columbia.", + "We also provide credit card products to customers in Canada, Ireland, Spain and the United Kingdom.", + "In the U. S. , we serve approximately 59 million consumer and small business relationships utilizing our network of 6,149 banking centers, 18,753 domestic branded ATMs, and telephone and Internet channels.", + "Within GCSBB, there are three primary businesses: Deposits, Card Services, and Consumer Real Estate.", + "In addition, ALM/Other includes the results of ALM activities and other consumer-related busi\u0002nesses (e. g. , insurance).", + "GCSBB, specifically Card Services, is presented on a managed basis.", + "For a reconciliation of managed GCSBB to held GCSBB, see Note 22 \u2013 Business Segment Information to the Consolidated Financial Statements.", + "During 2007, Visa Inc. filed a registration statement with the SEC with respect to a proposed IPO.", + "Subject to market conditions and other factors, Visa Inc. expects the IPO to occur in the first half of 2008.", + "We expect to record a gain associated with the IPO.", + "In addition, we expect that a portion of the proceeds from the IPO will be used by Visa Inc. to fund liabilities arising from litigation which would allow us to record an offset to the litigation liabilities that we recorded in the fourth quarter of 2007 as discussed below.", + "Net income decreased $1.9 billion, or 17 percent, to $9.4 billion compared to 2006 as increases in noninterest income and net interest income were more than offset by increases in provision for credit losses and noninterest expense.", + "Net interest income increased $612 million, or two percent, to $28.8 billion due to the impacts of organic growth and the LaSalle acquisition on average loans and leases, and deposits compared to 2006.", + "Noninterest income increased $2.1 billion, or 13 percent, to $18.9 billion compared to the same period in 2006, mainly due to increases in card income, service charges and mortgage banking income.", + "Provision for credit losses increased $4.4 billion, or 51 percent, to $12.9 billion compared to 2006.", + "This increase primarily resulted from a $3.2 billion increase in Card Services and a $978 million increase in Consumer Real Estate.", + "For further discussion of the increase in provision for credit losses related to Card Services and Consumer Real Estate, see their respective discussions.", + "Noninterest expense increased $1.7 billion, or nine percent, to $20.1 billion largely due to increases in personnel-related expenses, Visa\u0002related litigation costs, equally allocated to Card Services and Treasury Services on a management accounting basis, and technology related costs.", + "For additional information on Visa-related litigation, see Note 13 \u2013 Commitments and Contingencies to the Consolidated Financial Statements.", + "Deposits Deposits provides a comprehensive range of products to consumers and small businesses.", + "Our products include traditional savings accounts, money market savings accounts, CDs and IRAs, and noninterest and interest-bearing checking accounts.", + "Debit card results are also included in Deposits.", + "Deposit products provide a relatively stable source of funding and liquidity.", + "We earn net interest spread revenues from investing this liquidity in earning assets through client-facing lending activity and our ALM activ\u0002ities.", + "The revenue is allocated to the deposit products using our funds transfer pricing process which takes into account the interest rates and maturity characteristics of the deposits.", + "Deposits also generate fees such as account service fees, non-sufficient fund fees, overdraft charges and ATM fees, while debit cards generate merchant interchange fees based on purchase volume.", + "Excluding accounts obtained through acquisitions, we added approx\u0002imately 2.3 million net new retail checking accounts in 2007.", + "These addi\u0002tions resulted from continued improvement in sales and service results in the Banking Center Channel and Online, and the success of such products as Keep the ChangeTM, Risk Free CDs, Balance Rewards and Affinity.", + "We continue to migrate qualifying affluent customers and their related deposit balances from GCSBB to GWIM.", + "In 2007, a total of $11.4 billion of deposits were migrated from GCSBB to GWIM compared to $10.7 billion in 2006.", + "After migration, the associated net interest income, serv\u0002ice charges and noninterest expense are recorded in GWIM.", + "Net income increased $364 million, or seven percent, to $5.2 billion compared to 2006 as an increase in noninterest income was partially offset by an increase in noninterest expense.", + "Net interest income remained relatively flat at $9.4 billion compared to 2006 as the addition of LaSalle and higher deposit spreads resulting from disciplined pricing were offset by the impact of lower balances.", + "Average deposits decreased $3.2 billion, or one percent, largely due to the migration of customer rela\u0002tionships and related balances to GWIM, partially offset by the acquisition of LaSalle.", + "The increase in noninterest income was driven by higher serv\u0002ice charges of $665 million, or 12 percent, primarily as a result of new demand deposit account growth and the addition of LaSalle.", + "Additionally, debit card revenue growth of $248 million, or 13 percent, was due to a higher number of checking accounts, increased usage, the addition of LaSalle and market penetration (i. e. , increase in the number of existing account holders with debit cards).", + "Noninterest expense increased $323 million, or four percent, to $9.1 billion compared to 2006, primarily due to the addition of LaSalle, and to higher account and transaction volumes.", + "Card Services Card Services, which excludes the results of debit cards (included in Deposits), provides a broad offering of products, including U. S. Consumer and Business Card, Unsecured Lending, and International Card.", + "We offer a variety of co-branded and affinity credit card products and have become the leading issuer of credit cards through endorsed marketing in the U. S. and Europe.", + "During 2007, Merchant Services was transferred to Treasury Services within GCIB.", + "Previously their results were reported in Card Serv\u0002ices.", + "Prior period amounts have been reclassified.", + "The shares of the series of preferred stock previously discussed are not subject to the operation of a sinking fund and have no participation rights.", + "With the exception of the Series L Preferred Stock, the shares of the series of preferred stock in the previous table are not convertible.", + "The holders of these series have no general voting rights.", + "If any dividend payable on these series is in arrears for three or more semi-annual or six or more quarterly dividend periods, as applicable (whether consecutive or not), the holders of these series and any other class or series of pre\u0002ferred stock ranking equally as to payment of dividends and upon which equivalent voting rights have been conferred and are exercisable (voting as a single class) will be entitled to vote for the election of two additional directors.", + "These voting rights terminate when the Corporation has paid in full dividends on these series for at least two semi-annual or four quar\u0002terly dividend periods, as applicable, following the dividend arrearage (or, in the case of the Series N Preferred Stock, upon payment of all accrued and unpaid dividends).", + "In October 2008, in connection with the TARP Capital Purchase Pro\u0002gram, established as part of the Emergency Economic Stabilization Act of 2008, the Corporation issued to the U. S. Treasury 600 thousand shares of Series N Preferred Stock as presented in the previous table.", + "The Ser\u0002ies N Preferred Stock has a call feature after three years.", + "In connection with this investment, the Corporation also issued to the U. S. Treasury 10-year warrants to purchase approximately 73.1 million shares of Bank of America Corporation common stock at an exercise price of $30.79 per share.", + "Upon the request of the U. S. Treasury, at any time, the Corpo\u0002ration has agreed to enter into a deposit arrangement pursuant to which the Series N Preferred Stock may be deposited and depositary shares, representing 1/25th of a share of Series N Preferred Stock, may be issued.", + "The Corporation has agreed to register the Series N Preferred Stock, the warrants, the shares of common stock underlying the warrants and the depositary shares, if any, for resale under the Securities Act of 1933.", + "As required under the TARP Capital Purchase Program in connection with the sale of the Series N Preferred Stock to the U. S. Treasury, divi\u0002dend payments on, and repurchases of, the Corporation\u2019s outstanding preferred and common stock are subject to certain restrictions.", + "For as long as any Series N Preferred Stock is outstanding, no dividends may be declared or paid on the Corporation\u2019s outstanding preferred and common stock until all accrued and unpaid dividends on Series N Preferred Stock are fully paid.", + "In addition, the U. S. Treasury\u2019s consent is required for any increase in dividends declared on shares of common stock before the third anniversary of the issuance of the Series N Preferred Stock unless the Series N Preferred Stock is redeemed by the Corporation or trans\u0002ferred in whole by the U. S. Treasury.", + "Further, the U. S. Treasury\u2019s consent is required for any repurchase of any equity securities or trust preferred securities except for repurchases of Series N Preferred Stock or repurchases of common shares in connection with benefit plans con\u0002sistent with past practice before the third anniversary of the issuance of the Series N Preferred Stock unless redeemed by the Corporation or transferred in whole by the U. S. Treasury.", + "On July 14, 2006, the Corporation redeemed its 6.75% Perpetual Preferred Stock with a stated value of $250 per share.", + "The 382.5 thousand shares, or $96 million, outstanding of preferred stock were redeemed at the stated value of $250 per share, plus accrued and unpaid dividends.", + "On July 3, 2006, the Corporation redeemed its Fixed/Adjustable Rate Cumulative Preferred Stock with a stated value of $250 per share.", + "The 700 thousand shares, or $175 million, outstanding of preferred stock were redeemed at the stated value of $250 per share, plus accrued and unpaid dividends.", + "All preferred stock outstanding has preference over the Corporation\u2019s common stock with respect to the payment of dividends and distribution of the Corporation\u2019s assets in the event of a liquidation or dissolution.", + "Except in certain circumstances, the holders of preferred stock have no voting rights.", + "During 2008, 2007 and 2006 the aggregate dividends declared on preferred stock were $1.3 billion, $182 million and $22 million respectively.", + "In addition, in January 2009, the Corporation declared aggregate dividends on preferred stock of $909 million, including $145 million related to preferred stock exchanged in connection with the Merrill Lynch acquisition.", + "Accumulated OCI The following table presents the changes in accumulated OCI for 2008, 2007 and 2006, net-of-tax.", + "|(Dollars in millions)|Securities -1|Derivatives -2|Employee Benefit Plans -3|Foreign Currency -4|Total|\n| Balance, December 31, 2007|$6,536|$-4,402|$-1,301|$296|$1,129|\n|Net change in fair value recorded in accumulated OCI-5|-10,354|104|-3,387|-1,000|-14,637|\n|Net realized losses reclassified into earnings-6|1,797|840|46|\u2013|2,683|\n| Balance, December 31, 2008|$-2,021|$-3,458|$-4,642|$-704|$-10,825|\n| Balance, December 31, 2006|$-2,733|$-3,697|$-1,428|$147|$-7,711|\n|Net change in fair value recorded in accumulated OCI-5|9,416|-1,252|4|142|8,310|\n|Net realized (gains) losses reclassified into earnings(6)|-147|547|123|7|530|\n| Balance, December 31, 2007|$6,536|$-4,402|$-1,301|$296|$1,129|\n| Balance, December 31, 2005|$-2,978|$-4,338|$-118|$-122|$-7,556|\n|Net change in fair value recorded in accumulated OCI|465|534|-1,310|219|-92|\n|Net realized (gains) losses reclassified into earnings(6)|-220|107|\u2013|50|-63|\n| Balance, December 31, 2006|$-2,733|$-3,697|$-1,428|$147|$-7,711|\n", + "(1) In 2008, 2007 and 2006, the Corporation reclassified net realized losses into earnings on the sales and other-than-temporary impairments of AFS debt securities of $1.4 billion, $137 million and $279 million, net-of-tax, respectively, and net realized (gains) losses on the sales and other-than-temporary impairments of AFS marketable equity securities of $377 million, $(284) million, and $(499) million, net-of-tax, respectively.", + "(2) The amounts included in accumulated OCI for terminated interest rate derivative contracts were losses of $3.4 billion, $3.8 billion and $3.2 billion, net-of-tax, at December 31, 2008, 2007 and 2006, respectively.", + "(3) For more information, see Note 16 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "(4) For 2008, the net change in fair value recorded in accumulated OCI represented $3.8 billion in losses associated with the Corporation\u2019s foreign currency translation adjustments on its net investment in consolidated foreign operations partially offset by gains of $2.8 billion on the related foreign currency exchange hedging results.", + "(5) Securities include the fair value adjustment of $4.8 billion and $8.4 billion, net-of-tax, related to the Corporation\u2019s investment in CCB at December 31, 2008 and 2007.", + "(6) Included in this line item are amounts related to derivatives used in cash flow hedge relationships.", + "These amounts are reclassified into earnings in the same period or periods during which the hedged forecasted transactions affect earnings.", + "This line item also includes (gains) losses on AFS debt and marketable equity securities and impairment charges.", + "These amounts are reclassified into earnings upon sale of the related security or when the other-than-temporary impairment charge is recognized.", + "Entering 2006, earnings in the first quarter are ex\u0002pected to improve compared with the 2005 fourth quar\u0002ter due principally to higher average price realizations, reflecting announced price increases.", + "Product demand for the first quarter should be seasonally slow, but is ex\u0002pected to strengthen as the year progresses, supported by continued economic growth in North America, Asia and Eastern Europe.", + "Average prices should also improve in 2006 as price increases announced in late 2005 and early 2006 for uncoated freesheet paper and pulp con\u0002tinue to be realized.", + "Operating rates are expected to improve as a result of industry-wide capacity reductions in 2005.", + "Although energy and raw material costs remain high, there has been some decline in both natural gas and delivered wood costs, with further moderation ex\u0002pected later in 2006.", + "We will continue to focus on fur\u0002ther improvements in our global manufacturing operations, implementation of supply chain enhance\u0002ments and reductions in overhead costs during 2006.", + "Industrial Packaging Demand for Industrial Packaging products is closely correlated with non-durable industrial goods production in the United States, as well as with demand for proc\u0002essed foods, poultry, meat and agricultural products.", + "In addition to prices and volumes, major factors affecting the profitability of Industrial Packaging are raw material and energy costs, manufacturing efficiency and product mix.", + "Industrial Packaging\u2019s net sales for 2005 increased 2% compared with 2004, and were 18% higher than in 2003, reflecting the inclusion of International Paper Distribution Limited (formerly International Paper Pacific Millennium Limited) beginning in August 2005.", + "Operating profits in 2005 were 39% lower than in 2004 and 13% lower than in 2003.", + "Sales volume increases ($24 million), improved price realizations ($66 million), and strong mill operating performance ($27 million) were not enough to offset the effects of increased raw material costs ($103 million), higher market related downtime costs ($50 million), higher converting operating costs ($22 million), and unfavorable mix and other costs ($67 million).", + "Additionally, the May 2005 sale of our Industrial Papers business resulted in a $25 million lower earnings contribution from this business in 2005.", + "The segment took 370,000 tons of downtime in 2005, including 230,000 tons of lack-of-order downtime to balance internal supply with customer demand, com\u0002pared to a total of 170,000 tons in 2004, which included 5,000 tons of lack-of-order downtime.", + "| In millions|2005|2004|2003|\n|Sales|$4,935|$4,830|$4,170|\n|Operating Profit|$230|$380|$264|\n", + "Containerboard\u2019s net sales totaled $895 million in 2005, $951 million in 2004 and $815 million in 2003.", + "Soft market conditions and declining customer demand at the end of the first quarter led to lower average sales prices during the second and third quarters.", + "Beginning in the fourth quarter, prices recovered as a result of in\u0002creased customer demand and a rationalization of sup\u0002ply.", + "Full year sales volumes trailed 2004 levels early in the year, reflecting the weak market conditions in the first half of 2005.", + "However, volumes rebounded in the second half of the year, and finished the year ahead of 2004 levels.", + "Operating profits decreased 38% from 2004, but were flat with 2003.", + "The favorable impacts of in\u0002creased sales volumes, higher average sales prices and improved mill operating performance were not enough to offset the impact of higher wood, energy and other raw material costs and increased lack-of-order down\u0002time.", + "Implementation of the new supply chain operating model in our containerboard mills during 2005 resulted in increased operating efficiency and cost savings.", + "Specialty Papers in 2005 included the Kraft Paper business for the full year and the Industrial Papers busi\u0002ness for five months prior to its sale in May 2005.", + "Net sales totaled $468 million in 2005, $723 million in 2004 and $690 million in 2003.", + "Operating profits in 2005 were down 23% compared with 2004 and 54% com\u0002pared with 2003, reflecting the lower contribution from Industrial Papers.", + "U. S. Converting Operations net sales for 2005 were $2.6 billion compared with $2.3 billion in 2004 and $1.9 billion in 2003.", + "Sales volumes were up 10% in 2005 compared with 2004, mainly due to the acquisition of Box USA in July 2004.", + "Average sales prices in 2005 began the year above 2004 levels, but softened in the second half of the year.", + "Operating profits in 2005 de\u0002creased 46% and 4% from 2004 and 2003 levels, re\u0002spectively, primarily due to increased linerboard, freight and energy costs.", + "European Container sales for 2005 were $883 mil\u0002lion compared with $865 million in 2004 and $801 mil\u0002lion in 2003.", + "Operating profits declined 19% and 13% compared with 2004 and 2003, respectively.", + "The in\u0002crease in sales in 2005 reflected a slight increase in de\u0002mand over 2004, but this was not sufficient to offset the negative earnings effect of increased operating costs, unfavorable foreign exchange rates and a reduction in average sales prices.", + "The Moroccan box plant acquis\u0002ition, which was completed in October 2005, favorably impacted fourth-quarter results.", + "Industrial Packaging\u2019s sales in 2005 included $104 million from International Paper Distribution Limited, our Asian box and containerboard business, subsequent to the acquisition of an additional 50% interest in Au\u0002gust 2005." + ], + "question_id": "simplong-test-183", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the currency exchange rate cad to usd used to convert the value of the outstanding credit facility as of december 31 , 3006?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Kimco Realty Corporation and Subsidiaries", + "||2006|2005|\n|Remaining net rentals|$62.3|$68.9|\n|Estimated unguaranteed residual value|40.5|43.8|\n|Non-recourse mortgage debt|-48.4|-52.8|\n|Unearned and deferred income|-50.7|-55.9|\n|Net investment in leveraged lease|$3.7|$4.0|\n", + "9.", + "Mortgages and Other Financing Receivables: During January 2006, the Company provided approximately $16.0 million as its share of a $50.0 million junior participation in a $700.0 million first mortgage loan, in connection with a private investment firm\u2019s acquisition of a retailer.", + "This loan participation bore interest at LIBOR plus 7.75% per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer.", + "During June 2006, the borrower elected to pre-pay the outstanding loan balance of approximately $16.0 million in full satisfaction of this loan.", + "Additionally, during January 2006, the Company provided approximately $5.2 million as its share of an $11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in San Antonio, TX.", + "This loan is interest only at a fixed rate of 11.0% for a term of two years payable monthly and collateralized by a first mortgage on the subject property.", + "As of December 31, 2006, the outstanding balance on this loan was approximately $5.2 million.", + "During February 2006, the Company committed to provide a one year $17.2 million credit facility at a fixed rate of 8.0% for a term of nine months and 9.0% for the remaining term to a real estate investor for the recapitalization of a discount and entertain\u0002ment mall that it currently owns.", + "During 2006, this facility was fully paid and was terminated.", + "During April 2006, the Company provided two separate mortgages aggregating $14.5 million on a property owned by a real estate investor.", + "Proceeds were used to payoff the existing first mortgage, buyout the existing partner and for redevelopment of the property.", + "The mortgages bear interest at 8.0% per annum and mature in 2008 and 2013.", + "These mortgages are collateralized by the subject property.", + "As of December 31, 2006, the aggregate outstanding balance on these mortgages was approximately $15.0 million, including $0.5 million of accrued interest.", + "During May 2006, the Company provided a CAD $23.5 million collateralized credit facility at a fixed rate of 8.5% per annum for a term of two years to a real estate company for the execution of its property acquisitions program.", + "The credit facility is guaranteed by the real estate company.", + "The Company was issued 9,811 units, valued at approximately USD $0.1 million, and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee.", + "During August 2006, the Company increased the credit facility to CAD $45.0 million and received an additional 9,811 units, valued at approximately USD $0.1 million, and warrants to purchase up to 0.1 million shares of the real estate company.", + "As of December 31, 2006, the outstand\u0002ing balance on this credit facility was approximately CAD $3.6 million (approximately USD $3.1 million).", + "During September 2005, a newly formed joint venture, in which the Company had an 80% interest, acquired a 90% interest in a $48.4 million mortgage receivable for a purchase price of approximately $34.2 million.", + "This loan bore interest at a rate of three-month LIBOR plus 2.75% per annum and was scheduled to mature on January 12, 2010.", + "A 626-room hotel located in Lake Buena Vista, FL collateralized the loan.", + "The Company had determined that this joint venture entity was a VIE and had further determined that the Company was the primary benefici\u0002ary of this VIE and had therefore consolidated it for financial reporting purposes.", + "During March 2006, the joint venture acquired the remaining 10% of this mortgage receivable for a purchase price of approximately $3.8 million.", + "During June 2006, the joint venture accepted a pre-payment of approximately $45.2 million from the borrower as full satisfaction of this loan.", + "During August 2006, the Company provided $8.8 million as its share of a $13.2 million 12-month term loan to a retailer for general corporate purposes.", + "This loan bears interest at a fixed rate of 12.50% with interest payable monthly and a balloon payment for the principal balance at maturity.", + "The loan is collateralized by the underlying real estate of the retailer.", + "Additionally, the Company funded $13.3 million as its share of a $20.0 million revolving Debtor-in-Possession facility to this retailer.", + "The facility bears interest at LIBOR plus 3.00% and has an unused line fee of 0.375%.", + "This credit facility is collateralized by a first priority lien on all the retailer\u2019s assets.", + "As of December 31, 2006, the Compa\u0002ny\u2019s share of the outstanding balance on this loan and credit facility was approximately $7.6 million and $4.9 million, respec\u0002tively.", + "During September 2006, the Company provided a MXP 57.3 million (approximately USD $5.3 million) loan to an owner of an operating property in Mexico.", + "The loan, which is collateralized by the property, bears interest at 12.0% per annum and matures in 2016.", + "The Company is entitled to a participation feature of 25% of annual cash flows after debt service and 20% of the gain on sale of the property.", + "As of December 31, 2006, the outstand\u0002ing balance on this loan was approximately MXP 57.8 million (approximately USD $5.3 million).", + "During November 2006, the Company committed to provide a MXP 124.8 million (approximately USD $11.5 million) loan to an owner of a land parcel in Acapulco, Mexico.", + "The loan, which is collateralized with an operating property owned by the bor\u0002rower, bears interest at 10% per annum and matures in 2016.", + "The Company is entitled to a participation feature of 20% of excess cash flows and gains on sale of the property.", + "As of Decem\u0002ber 31, 2006, the outstanding balance on this loan was MXP 12.8 million (approximately USD $1.2 million).", + "Table of Contents requiring more management judgment to estimate the appropriate fair value measurement.", + "Accordingly, the degree of judgment exercised by management in determining fair value is greater for financial assets and liabilities categorized as Level 3.", + "Our valuation processes include a number of key controls that are designed to ensure that fair value is measured appropriately.", + "The following table summarizes our financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2011 and 2010:", + "|| December 31,|\n||2011| 2010|\n| (Dollars in thousands)|Total Balance|Level 3|Total Balance| Level 3|\n|Assets carried at fair value|$11,372,081|$799,962|$8,546,528|$547,608|\n|As a percentage of total assets|56.9%|4.0%|48.8%|3.1%|\n|Liabilities carried at fair value|$16,868|$\u2014|$10,267|$\u2014|\n|As a percentage of total liabilities|0.1%|\u2014%|0.1%|\u2014%|\n||Level 1 and 2|Level 3|Level 1 and 2|Level 3|\n|Percentage of assets measured at fair value|93.0%|7.0%|93.6%|6.4%|\n", + "As of December 31, 2011, our available-for-sale securities portfolio, consisting of agency-issued mortgage-backed securities, agency-issued collateralized mortgage obligations, U. S. agency debentures, U. S. treasury securities and municipal bonds and notes, represented $10.5 billion, or 92.6 percent of our portfolio of assets measured at fair value on a recurring basis, compared to $7.9 billion, or 92.6 percent, as of December 31, 2010.", + "These instruments were classified as Level 2 because their valuations were based on indicative prices corroborated by observable market quotes or valuation techniques with all significant inputs derived from or corroborated by observable market data.", + "The fair value of our available-for-sale securities portfolio is sensitive to changes in levels of market interest rates and market perceptions of credit quality of the underlying securities.", + "Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis.", + "Assets valued using Level 2 measurements also include equity warrant assets in shares of public company capital stock, marketable securities, interest rate swaps, foreign exchange forward and option contracts, loan conversion options and client interest rate derivatives.", + "To the extent available-for-sale securities are used to secure borrowings, changes in the fair value of those securities could have an impact on the total amount of secured financing available.", + "We pledge securities to the Federal Home Loan Bank of San Francisco and the discount window at the Federal Reserve Bank.", + "The market value of collateral pledged to the Federal Home Loan Bank of San Francisco (comprised entirely of U. S. agency debentures) at December 31, 2011 totaled $1.5 billion, all of which was unused and available to support additional borrowings.", + "The market value of collateral pledged at the discount window of the Federal Reserve Bank in accordance with our liquidity risk management practices at December 31, 2011 totaled $100.5 million, all of which was unused and available to support additional borrowings.", + "We have repurchase agreements in place with multiple securities dealers, which allow us to access short-term borrowings by using available-for-sale securities as collateral.", + "At December 31, 2011, we had not utilized any of our repurchase lines to secure borrowed funds.", + "Financial assets valued using Level 3 measurements consist primarily of our investments in venture capital and private equity funds and direct equity investments in privately held companies.", + "Our managed funds and debt fund that hold these investments qualify as investment companies under the American Institute of Certified Public Accountants (\u201cAICPA\u201d) Audit and Accounting Guide for Investment Companies and accordingly, these funds report their investments at estimated fair value, with unrealized gains and losses resulting from changes in fair value reflected as investment gains or losses in our consolidated statements of income.", + "Assets valued using Level 3 measurements also include equity warrant assets in shares of private company capital stock.", + "Table of Contents Average Balances, Yields and Rates Paid (Fully Taxable Equivalent Basis) The average yield earned on interest-earning assets is the amount of annualized fully taxable equivalent interest income expressed as a percentage of average interest-earning assets.", + "The average rate paid on funding sources is the amount of annualized interest expense expressed as a percentage of average funding sources.", + "The following tables set forth average assets, liabilities, noncontrolling interests and SVBFG stockholders\u2019 equity, interest income, interest expense, annualized yields and rates, and the composition of our annualized net interest margin in 2011, 2010 and 2009.", + "|| Year ended December 31,|\n||2011|2010| 2009|\n| (Dollars in thousands)|Average Balance|Interest Income/ Expense|Yield/ Rate|Average Balance|Interest Income/ Expense|Yield/ Rate|Average Balance|Interest Income/ Expense| Yield/ Rate|\n|Interest-earning assets:||||||||||\n|Federal Reserve deposits, federal funds sold, securities purchased under agreements to resell and other short-term investment securities-1|$1,974,001|$6,486|0.33%|$3,869,781|$10,960|0.28%|$3,333,182|$9,790|0.29%|\n|Available-for-sale securities: -2||||||||||\n|Taxable|9,256,688|165,449|1.79|5,249,884|127,422|2.43|2,179,181|81,536|3.74|\n|Non-taxable -3|93,693|5,574|5.95|97,443|5,860|6.01|103,150|6,298|6.11|\n|Total loans, net of unearned income -4|5,815,071|389,830|6.70|4,435,911|319,540|7.20|4,699,696|335,806|7.15|\n|Total interest-earning assets|17,139,453|567,339|3.31|13,653,019|463,782|3.40|10,315,209|433,430|4.20|\n|Cash and due from banks|283,596|||232,058|||238,911|||\n|Allowance for loan losses|-88,104|||-77,999|||-107,512|||\n|Goodwill|\u2014|||\u2014|||1,000|||\n|Other assets -5|1,335,554|||1,051,158|||878,733|||\n|Total assets|$18,670,499|||$14,858,236|||$11,326,341|||\n|Funding sources:||||||||||\n|Interest-bearing liabilities:||||||||||\n|NOW deposits|$87,099|$270|0.31%|$51,423|$208|0.40%|$42,022|$160|0.38%|\n|Money market deposits|2,508,279|5,131|0.20|1,818,113|5,308|0.29|1,183,848|6,152|0.52|\n|Money market deposits in foreign offices|130,693|294|0.22|83,253|272|0.33|62,440|416|0.67|\n|Time deposits|258,810|1,102|0.43|361,921|1,786|0.49|355,602|2,445|0.69|\n|Sweep deposits in foreign offices|2,346,076|2,065|0.09|2,496,649|7,204|0.29|1,860,899|12,173|0.65|\n|Total interest-bearing deposits|5,330,957|8,862|0.17|4,811,359|14,778|0.31|3,504,811|21,346|0.61|\n|Short-term borrowings|16,994|25|0.15|49,972|92|0.18|46,133|72|0.16|\n|5.375% Senior Notes|347,689|19,244|5.53|98,081|5,345|5.45|\u2014|\u2014|\u2014|\n|3.875% Convertible Notes|71,108|4,210|5.92|248,056|14,147|5.70|245,756|14,043|5.71|\n|Junior Subordinated Debentures|55,467|3,325|5.99|55,706|3,061|5.49|55,948|3,465|6.19|\n|5.70% Senior Note and 6.05% Subordinated Notes|317,855|3,151|0.99|559,915|5,895|1.05|560,398|9,166|1.64|\n|Other long-term debt|4,704|294|6.25|6,620|278|4.20|61,752|984|1.59|\n|Total interest-bearing liabilities|6,144,774|39,111|0.64|5,829,709|43,596|0.75|4,474,798|49,076|1.10|\n|Portion of noninterest-bearing funding sources|10,994,679|||7,823,310|||5,840,411|||\n|Total funding sources|17,139,453|39,111|0.23|13,653,019|43,596|0.32|10,315,209|49,076|0.47|\n|Noninterest-bearing funding sources:||||||||||\n|Demand deposits|10,237,844|||7,216,968|||5,289,288|||\n|Other liabilities|268,721|||189,475|||179,795|||\n|SVBFG stockholders\u2019 equity|1,448,398|||1,230,569|||1,063,175|||\n|Noncontrolling interests|570,762|||391,515|||319,285|||\n|Portion used to fund interest-earning assets|-10,994,679|||-7,823,310|||-5,840,411|||\n|Total liabilities, noncontrolling interest, and SVBFG stockholders\u2019 equity stockholders\u2019 equity|$18,670,499|||$14,858,236|||$11,326,341|||\n|Net interest income and margin||$528,228|3.08%||$420,186|3.08%||$384,354|3.73%|\n|Total deposits|$15,568,801|||$12,028,327|||$8,794,099|||\n|Reconciliation to reported net interest income:||||||||||\n|Adjustment for tax-equivalent basis||-1,951|||-2,051|||-2,204||\n|Net interest income, as reported||$526,277|||$418,135|||$382,150||\n", + "(1) Includes average interest-earning deposits in other financial institutions of $324.2 million, $217.4 million and $176.5 million in 2011, 2010 and 2009, respectively.", + "For 2011, 2010 and 2009, balances also include $1.4 billion, $3.5 billion and $3.1 billion, respectively, deposited at the Federal Reserve Bank, earning interest at the Federal Funds target rate." + ], + "question_id": "simplong-test-184", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Bermuda of At December 31, 2017 Case Reserves, Insurance of At December 31, 2016 Case Reserves, and International of At December 31, 2016 Total Reserves ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 1A.", + "RISK FACTORS In addition to the other information provided in this report, the following risk factors should be considered when evaluating an investment in our securities.", + "If the circumstances contemplated by the individual risk factors materialize, our business, financial condition and results of operations could be materially and adversely affected and the trading price of our common shares could decline significantly.", + "RISKS RELATING TO OUR BUSINESS Fluctuations in the financial markets could result in investment losses.", + "Prolonged and severe disruptions in the overall public debt and equity markets, such as occurred during 2008, could result in significant realized and unrealized losses in our investment portfolio.", + "Although financial markets have significantly improved since 2008, they could deteriorate in the future.", + "There could also be disruption in individual market sectors, such as occurred in the energy sector in recent years.", + "Such declines in the financial markets could result in significant realized and unrealized losses on investments and could have a material adverse impact on our results of operations, equity, business and insurer financial strength and debt ratings.", + "Our results could be adversely affected by catastrophic events.", + "We are exposed to unpredictable catastrophic events, including weather-related and other natural catastrophes, as well as acts of terrorism.", + "Any material reduction in our operating results caused by the occurrence of one or more catastrophes could inhibit our ability to pay dividends or to meet our interest and principal payment obligations.", + "By way of illustration, during the past five calendar years, pre-tax catastrophe losses, net of reinsurance, were as follows:", + "|Calendar year:|Pre-tax catastrophe losses|\n|(Dollars in millions)||\n|2017|$1,472.6|\n|2016|301.2|\n|2015|53.8|\n|2014|56.3|\n|2013|194.0|\n", + "Our losses from future catastrophic events could exceed our projections.", + "We use projections of possible losses from future catastrophic events of varying types and magnitudes as a strategic underwriting tool.", + "We use these loss projections to estimate our potential catastrophe losses in certain geographic areas and decide on the placement of retrocessional coverage or other actions to limit the extent of potential losses in a given geographic area.", + "These loss projections are approximations, reliant on a mix of quantitative and qualitative processes, and actual losses may exceed the projections by a material amount, resulting in a material adverse effect on our financial condition and results of operations.", + "Gross written premiums decreased by 7.8% to $1,230.7 million in 2016 compared to $1,334.2 million in 2015, primarily due to declines in Latin American, Middle East and Asian business and the negative impact of $40.7 million from the movement of foreign exchange rates.", + "Net written premiums decreased by 10.4% to $1,082.7 million in 2016 compared to $1,209.0 million in 2015.", + "The difference between the change in gross written premiums compared to the change in net written premiums is primarily due to varying utilization of reinsurance related to the quota share contracts.", + "Premiums earned decreased 10.6% to $1,119.1 million in 2016 compared to $1,251.1 million in 2015.", + "The change in premiums earned relative to net written premiums is primarily the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the International segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2017||||||||||\n|Attritional|$605.3|50.4%||$0.2|0.0%||$605.6|50.4%||\n|Catastrophes|456.3|38.0%||-2.3|-0.2%||454.0|37.8%||\n|Total segment|$1,061.6|88.4%||$-2.1|-0.2%||$1,059.6|88.2%||\n|2016||||||||||\n|Attritional|$576.2|51.5%||$-224.8|-20.1%||$351.4|31.4%||\n|Catastrophes|178.8|16.0%||-43.7|-3.9%||135.2|12.1%||\n|Total segment|$755.0|67.5%||$-268.5|-24.0%||$486.6|43.5%||\n|2015||||||||||\n|Attritional|$721.3|57.7%||$-31.4|-2.5%||$689.9|55.2%||\n|Catastrophes|70.5|5.6%||-10.5|-0.8%||60.0|4.8%||\n|Total segment|$791.8|63.3%||$-41.9|-3.3%||$749.9|60.0%||\n|Variance 2017/2016||||||||||\n|Attritional|$29.1|-1.1|pts|$225.0|20.1|pts|$254.2|19.0|pts|\n|Catastrophes|277.5|22.0|pts|41.4|3.7|pts|318.8|25.7|pts|\n|Total segment|$306.6|20.9|pts|$266.4|23.8|pts|$573.1|44.7|pts|\n|Variance 2016/2015||||||||||\n|Attritional|$-145.1|-6.2|pts|$-193.4|-17.6|pts|$-338.5|-23.8|pts|\n|Catastrophes|108.3|10.4|pts|-33.2|-3.1|pts|75.2|7.3|pts|\n|Total segment|$-36.8|4.2|pts|$-226.6|-20.7|pts|$-263.3|-16.5|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 117.8% to $1,059.6 million in 2017 compared to $486.6 million in 2016, primarily due to an increase of $277.5 million in current year catastrophe losses, favorable development of $224.8 million on prior years attritional losses in 2016 mainly related to property business which did not recur in 2017 and favorable development of $43.7 million on prior years catastrophe losses in 2016 which did not recur in 2017.", + "The $456.3 million of current year catastrophe losses in 2017 related to Hurricane Maria ($263.2 million), Hurricane Irma ($107.6 million), the Mexico City earthquake ($25.6 million), the South Africa Knysna fires ($24.0 million), Cyclone Debbie in Australia ($17.1 million), the Peru storms ($15.2 million) and Hurricane Harvey ($3.7 million).", + "The $178.8 million of current year catastrophe losses in 2016 were due to the Fort McMurray Canada wildfire ($97.5 million), Hurricane Matthew ($27.4 million), the Ecuador earthquake ($23.6 million), the 2016 Taiwan earthquake ($15.2 million) and the New Zealand earthquake ($14.0 million).", + "Incurred losses and LAE decreased by 35.1% to $486.6 million in 2016 compared to $749.9 million in 2015, primarily due to more favorable development on prior year attritional losses of $193.4 million, a decrease in current year attritional losses of $145.1 million, mainly due to lower Canadian, Latin American, Middle Eastern and African losses in 2016 and the impact of the decrease in premiums earned, as well as more favorable development of prior year catastrophe losses of $33.2 million, partially offset by an increase of $108.3 million in current year catastrophe losses.", + "The $224.8 million of favorable development on prior years attritional losses was mainly related to property business.", + "The $178.8 million of current year catastrophe losses in 2016 are outlined above.", + "The $70.5 million of current year catastrophe losses in 2015 were due to the Chilean earthquake ($34.8 million), Northern Chile storms ($19.5 million) and the", + "Loss and LAE Reserves.", + "Gross loss and LAE reserves totaled $11,884.3 million and $10,312.3 million at December 31, 2017 and 2016, respectively.", + "The following tables summarize gross outstanding loss and LAE reserves by segment, classified by case reserves and IBNR reserves, for the periods indicated.", + "||At December 31, 2017|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,719.6|$2,041.0|$3,760.6|31.6%|\n|International|1,147.6|1,022.9|2,170.5|18.3%|\n|Bermuda|1,037.8|1,417.0|2,454.8|20.7%|\n|Insurance|1,049.4|2,000.0|3,049.4|25.7%|\n|Total excluding A&E|4,954.3|6,481.0|11,435.3|96.2%|\n|A&E|306.0|143.0|449.0|3.8%|\n|Total including A&E|$5,260.4|$6,623.9|$11,884.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "At December 31, 2016", + "||At December 31, 2016|\n|(Dollars in millions)|Case Reserves|IBNR Reserves|Total Reserves|% of Total|\n|U.S. Reinsurance|$1,316.3|$2,033.9|$3,350.3|32.5%|\n|International|893.5|850.3|1,743.8|16.9%|\n|Bermuda|770.0|1,189.0|1,959.1|19.0%|\n|Insurance|1,018.5|1,799.5|2,818.1|27.3%|\n|Total excluding A&E|3,998.4|5,872.8|9,871.2|95.7%|\n|A&E|293.5|147.6|441.1|4.3%|\n|Total including A&E|$4,291.9|$6,020.4|$10,312.3|100.0%|\n|(Some amounts may not reconcile due to rounding.)|||||\n", + "Changes in premiums earned and business mix, reserve re-estimations, catastrophe losses and changes in catastrophe loss reserves and claim settlement activity all impact loss and LAE reserves by segment and in total.", + "Our loss and LAE reserves represent management\u2019s best estimate of our ultimate liability for unpaid claims.", + "We continuously re-evaluate our reserves, including re-estimates of prior period reserves, taking into consideration all available information and, in particular, newly reported loss and claim experience.", + "Changes in reserves resulting from such re-evaluations are reflected in incurred losses in the period when the re\u0002evaluation is made.", + "Our analytical methods and processes operate at multiple levels including individual contracts, groupings of like contracts, classes and lines of business, internal business units, segments, legal entities, and in the aggregate.", + "In order to set appropriate reserves, we make qualitative and quantitative analyses and judgments at these various levels.", + "Additionally, the attribution of reserves, changes in reserves and incurred losses among accident years requires qualitative and quantitative adjustments and allocations at these various levels.", + "We utilize actuarial science, business expertise and management judgment in a manner intended to ensure the accuracy and consistency of our reserving practices.", + "Nevertheless, our reserves are estimates, which are subject to variation, which may be significant.", + "There can be no assurance that reserves for, and losses from, claim obligations will not increase in the future, possibly by a material amount.", + "However, we believe that our existing reserves and reserving methodologies lessen the probability that any such increase would have a material adverse effect on our financial condition, results of operations or cash flows.", + "We have included ranges for loss reserve estimates determined by our actuaries, which have been developed through a combination of objective and subjective criteria.", + "Our presentation of this information may not be directly comparable to similar presentations of other companies as there are no consistently applied actuarial or accounting standards governing such presentations.", + "Our recorded reserves are an aggregation of our best point estimates for approximately 200 reserve groups and reflect our best point estimate of our liabilities.", + "Our actuarial methodologies develop point estimates rather than ranges and the ranges are developed subsequently based upon historical and prospective variability measures." + ], + "question_id": "simplong-test-185", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in operating income of hr solutions from 2009 to 2010?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HR Solutions", + "|Years ended December 31,|2010|2009|2008|\n|Revenue|$2,111|$1,267|$1,356|\n|Operating income|234|203|208|\n|Operating margin|11.1%|16.0%|15.3%|\n", + "In October 2010, we completed the acquisition of Hewitt, one of the world\u2019s leading human resource consulting and outsourcing companies.", + "Hewitt operates globally together with Aon\u2019s existing consulting and outsourcing operations under the newly created Aon Hewitt brand.", + "Hewitt\u2019s operating results are included in Aon\u2019s results of operations beginning October 1, 2010.", + "Our HR Solutions segment generated approximately 25% of our consolidated total revenues in 2010 and provides a broad range of human capital services, as follows: Consulting Services: ?", + "Health and Benefits advises clients about how to structure, fund, and administer employee benefit programs that attract, retain, and motivate employees.", + "Benefits consulting includes health and welfare, executive benefits, workforce strategies and productivity, absence management, benefits administration, data-driven health, compliance, employee commitment, investment advisory and elective benefits services. ?", + "Retirement specializes in global actuarial services, defined contribution consulting, investment consulting, tax and ERISA consulting, and pension administration. ?", + "Compensation focuses on compensatory advisory/counsel including: compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness, with special expertise in the financial services and technology industries. ?", + "Strategic Human Capital delivers advice to complex global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management.", + "Outsourcing Services: ?", + "Benefits Outsourcing applies our HR expertise primarily through defined benefit (pension), defined contribution (401(k)), and health and welfare administrative services.", + "Our model replaces the resource-intensive processes once required to administer benefit plans with more efficient, effective, and less costly solutions. ?", + "Human Resource Business Processing Outsourcing (\u2018\u2018HR BPO\u2019\u2019) provides market-leading solutions to manage employee data; administer benefits, payroll and other human resources processes; and record and manage talent, workforce and other core HR process transactions as well as other complementary services such as absence management, flexible spending, dependent audit and participant advocacy.", + "Beginning in late 2008, the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace.", + "Weak economic conditions globally continued throughout 2010.", + "The prolonged economic downturn is adversely impacting our clients\u2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate.", + "While we believe that the majority of our practices are well positioned to manage through this time, these challenges are reducing demand for some of our services and putting", + "has liability.", + "For a further discussion of claims and possible claims against O&R under Superfund, see Note G to the financial statements in Item 8.", + "Manufactured Gas Sites O&R and its predecessors formerly owned and operated manufactured gas plants at seven sites (O&R MGP Sites) in Orange County and Rockland County, New York.", + "Three of these sites are now owned by parties other than O&R, and have been redeveloped by them for residential, commercial or industrial uses.", + "The NYSDEC is requiring O&R to develop and implement remediation programs for the O&R MGP Sites including any neighboring areas to which contamination may have migrated.", + "O&R has completed remedial investigations at all seven of its MGP sites and has received the NYSDEC\u2019s decision regarding the remedial work to be performed at six of the sites.", + "Of the six sites, O&R has completed remediation at four sites.", + "Remedial construction was initiated on a portion of one of the remaining sites in 2018 and remedial design is ongoing for the other remaining sites.", + "The company estimates that its undiscounted potential liability for the completion of the site investigation and cleanup of the known contamination on MGP sites could range from $86 million to $142 million.", + "Superfund Sites O&R is a PRP at Superfund sites involving other PRPs, and participates in PRP groups at those sites.", + "The company is not managing the site investigation and remediation at these multiparty Superfund sites.", + "Work at these sites is in various stages, and investigation, remediation and monitoring activities at some of these sites is expected to continue over extended periods of time.", + "The company believes that it is unlikely that monetary sanctions, such as penalties, will be imposed by any governmental authority with respect to these sites.", + "The following table lists each of the Superfund sites for which the company anticipates it may have liability.", + "The table also shows for each such site its location, the year in which the company was designated or alleged to be a PRP or to otherwise have responsibilities for the site (shown in the table under \u201cStart\u201d), the name of the court or agency in which proceedings for the site are pending and O&R\u2019s estimated percentage of the total liability for each site.", + "The company currently estimates that its potential liability for investigation, remediation, monitoring and environmental damages in aggregate for the sites below is less than $1 million.", + "Superfund liability is joint and several.", + "The company\u2019s estimate of its liability for each site was determined pursuant to consent decrees, settlement agreements or otherwise and in light of the financial condition of other PRPs.", + "The company\u2019s actual liability could differ substantially from amounts estimated.", + "|Site|Location|Start|Court orAgency|% of TotalLiability|\n|Metal Bank of America|Philadelphia, PA|1993|EPA|4.6%|\n|Borne Chemical|Elizabeth, NJ|1997|NJDEP|2.3%|\n|Ellis Road|Jacksonville, FL|2011|EPA|0.2%|\n", + "Other Federal, State and Local Environmental Provisions Toxic Substances Control Act Virtually all electric utilities, including CECONY, own equipment containing PCBs.", + "PCBs are regulated under the Federal Toxic Substances Control Act of 1976.", + "The Utilities have procedures in place to manage and dispose of oil and equipment containing PCBs properly when they are removed from service.", + "Water Quality Under NYSDEC regulations, the operation of CECONY\u2019s generating facilities requires permits for water discharges and water withdrawals.", + "Conditions to the renewal of such permits may include limitations on the operations of the permitted facility or requirements to install certain equipment, the cost of which could be substantial.", + "For information about the company\u2019s generating facilities, see \u201cCECONY \u2013 Electric Operations \u2013 Electric Facilities\u201d and \u201cSteam Operations \u2013 Steam Facilities\u201d above in this Item 1.", + "Certain governmental authorities are investigating contamination in the Hudson River and the New York Harbor.", + "These waters run through portions of CECONY\u2019s service area.", + "Governmental authorities could require entities that released hazardous substances that contaminated these waters to bear the cost of investigation and remediation, which could be substantial.", + "Fuel expenses increased $23 million in 2017 compared with 2016 due to higher unit costs.", + "Other operations and maintenance expenses decreased $119 million in 2017 compared with 2016 due primarily to lower costs for pension and other postretirement benefits ($89 million) and other employee benefits related to a rabbi trust ($22 million).", + "Depreciation and amortization increased $60 million in 2017 compared with 2016 due primarily to higher electric utility plant balances.", + "Taxes, other than income taxes increased $78 million in 2017 compared with 2016 due primarily to higher property taxes ($97 million) and the absence in 2017 of a favorable state audit settlement in 2016 ($5 million), offset in part by deferral of under-collected property taxes due to new property tax rates for fiscal year 2017 \u2013 2018 ($21 million) and lower state and local taxes ($4 million).", + "Gas CECONY\u2019s results of gas operations for the year ended December 31, 2017 compared with the year ended December 31, 2016 is as follows", + "||For the Years Ended December 31,|\n|(Millions of Dollars)|2017|2016|Variation|\n|Operating revenues|$1,901|$1,508|$393|\n|Gas purchased for resale|510|319|191|\n|Other operations and maintenance|413|378|35|\n|Depreciation and amortization|185|159|26|\n|Taxes, other than income taxes|298|265|33|\n|Gas operating income|$495|$387|$108|\n", + "CECONY\u2019s gas sales and deliveries, excluding off-system sales, in 2017 compared with 2016 were", + "||Thousands of Dt Delivered|Revenues in Millions (a)|\n||For the Years Ended||For the Years Ended||\n|Description|December 31, 2017|December 31, 2016|Variation|Percent Variation|December 31, 2017|December 31, 2016|Variation|Percent Variation|\n|Residential|52,244|47,794|4,450|9.3%|$802|$667|$135|20.2%|\n|General|30,761|28,098|2,663|9.5|334|266|68|25.6|\n|Firm transportation|71,353|68,442|2,911|4.3|524|426|98|23.0|\n|Total firm sales and transportation|154,358|144,334|10,024|6.9(b)|1,660|1,359|301|22.1|\n|Interruptible sales (c)|7,553|8,957|-1,404|-15.7|35|34|1|2.9|\n|NYPA|37,033|43,101|-6,068|-14.1|2|2|\u2014|\u2014|\n|Generation plants|61,800|87,835|-26,035|-29.6|25|25|\u2014|\u2014|\n|Other|21,317|21,165|152|0.7|31|32|-1|-3.1|\n|Other operating revenues (d)|\u2014|\u2014|\u2014|\u2014|148|56|92|Large|\n|Total|282,061|305,392|-23,331|-7.6%|$1,901|$1,508|$393|26.1%|\n", + "(a) Revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism, as a result of which, delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "(b) After adjusting for variations, primarily billing days, firm gas sales and transportation volumes in the company\u2019s service area increased 5.9 percent in 2017 compared with 2016, reflecting primarily increased volumes attributable to the growth in the number of gas customers.", + "(c) Includes 3,816 thousands and 4,708 thousands of Dt for 2017 and 2016, respectively, which are also reflected in firm transportation and other.", + "(d) Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company\u2019s rate plans.", + "See Note B to the financial statements in Item 8.", + "Operating revenues increased $393 million in 2017 compared with 2016 due primarily to increased gas purchased for resale expense ($191 million) and higher revenues from the gas rate plan and growth in the number of customers ($182 million).", + "Gas purchased for resale increased $191 million in 2017 compared with 2016 due to higher unit costs ($176 million) and purchased volumes ($15 million)." + ], + "question_id": "simplong-test-186", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growth rate of Balance between December 31, 2008 and December 31, 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements\u2014(Continued) Note 8.", + "Goodwill and In-Process Research and Development (Continued) The Company has no accumulated impairment losses on goodwill.", + "The Company performed a Step 0 qualitative assessment during the annual impairment review for fiscal 2015 as of October 31, 2014 and concluded that it is not more likely than not that the fair value of the Company\u2019s single reporting unit is less than its carrying amount.", + "Therefore, the two-step goodwill impairment test for the reporting unit was not necessary in fiscal 2015.", + "As described in Note 3.", + "\u201cAcquisitions,\u201d in July 2014, the Company acquired ECP and AIS and recorded $18.5 million of IPR&D.", + "The estimated fair value of the IPR&D was determined using a probability-weighted income approach, which discounts expected future cash flows to present value.", + "The projected cash flows from the expandable catheter pump technology were based on certain key assumptions, including estimates of future revenue and expenses, taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development.", + "The Company used a discount rate of 22.5% and cash flows that have been probability adjusted to reflect the risks of product commercialization, which the Company believes are appropriate and representative of market participant assumptions.", + "The carrying value of the Company\u2019s IPR&D assets and the change in the balance for the year ended March 31, 2015 is as follows:", + "||March 31, 2015 (in $000\u2019s)|\n|Beginning balance|$\u2014|\n|Additions|18,500|\n|Foreign currency translation impact|-3,789|\n|Ending balance|$14,711|\n", + "Note 9.", + "Stockholders\u2019 Equity Class B Preferred Stock The Company has authorized 1,000,000 shares of Class B Preferred Stock, $.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.", + "Stock Repurchase Program In November 2012, the Company\u2019s Board of Directors authorized a stock repurchase program for up to $15.0 million of its common stock.", + "The Company financed the stock repurchase program with its available cash.", + "During the year ended March 31, 2013, the Company repurchased 1,123,587 shares for $15.0 million in open market purchases at an average cost of $13.39 per share, including commission expense.", + "The Company completed the purchase of common stock under this stock repurchase program in January 2013.", + "Note 10.", + "Stock Award Plans and Stock-Based Compensation Stock Award Plans The Company grants stock options and restricted stock awards to employees and others.", + "All outstanding stock options of the Company as of March 31, 2015 were granted with an exercise price equal to the fair market value on the date of grant.", + "Outstanding stock options, if not exercised, expire 10 years from the date of grant.", + "The Company\u2019s 2008 Stock Incentive Plan (the \u201cPlan\u201d) authorizes the grant of a variety of equity awards to the Company\u2019s officers, directors, employees, consultants and advisers, including awards of unrestricted and restricted stock, restricted stock units, incentive and nonqualified stock options to purchase shares of common stock, performance share awards and stock appreciation rights.", + "The Plan provides that options may only be granted at the current market value on the date of grant.", + "Each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the Plan, while each share of stock issued", + "Simultaneously, the FASB issued SFAS No.167, Amendments to FASB Interpretation No.46(R) (SFAS 167), which details three key changes to the consolidation model.", + "First, former QSPEs will now be included in the scope of SFAS 167.", + "In addition, the FASB has changed the method of analyzing which party to a variable interest entity (VIE) should consolidate the VIE (known as the primary beneficiary) to a qualitative determination of which party to the VIE has \u201cpower\u201d combined with potentially significant benefits or losses, instead of the current quantitative risks and rewards model.", + "The entity that has power has the ability to direct the activities of the VIE that most significantly impact the VIE\u2019s economic performance.", + "Finally, the new standard requires that the primary beneficiary analysis be re-evaluated whenever circumstances change.", + "The current rules require reconsideration of the primary beneficiary only when specified reconsideration events occur.", + "As a result of implementing these new accounting standards, Citigroup will consolidate certain of the VIEs and former QSPEs with which it currently has involvement.", + "An ongoing evaluation of the application of these new requirements could, with the resolution of certain uncertainties, result in the identification of additional VIEs and former QSPEs, other than those presented below, needing to be consolidated.", + "It is not currently anticipated, however, that any such newly identified VIEs and former QSPEs would have a significant impact on Citigroup\u2019s Consolidated Financial Statements or capital position.", + "In accordance with SFAS 167, Citigroup employed three approaches for consolidating all of the VIEs and former QSPEs that it consolidated as of January 1, 2010.", + "The first approach requires initially measuring the assets, liabilities, and noncontrolling interests of the VIEs and former QSPEs at their carrying values (the amounts at which the assets, liabilities, and noncontrolling interests would have been carried in the Consolidated Financial Statements, if Citigroup had always consolidated these VIEs and former QSPEs).", + "The second approach is to use the unpaid principal amounts, where using carrying values is not practicable.", + "The third approach is to elect the fair value option, in which all of the financial assets and liabilities of certain designated VIEs and former QSPEs would be recorded at fair value upon adoption of SFAS 167 and continue to be marked to market thereafter, with changes in fair value reported in earnings.", + "Citigroup consolidated all required VIEs and former QSPEs as of January 1, 2010 at carrying values or unpaid principal amounts, except for certain private label residential mortgage and mutual fund deferred sales commissions VIEs, for which the fair value option was elected.", + "The following tables present the pro forma impact of adopting these new accounting standards applying these approaches.", + "The pro forma impact of these changes on incremental GAAP assets and resulting risk-weighted assets for those VIEs and former QSPEs that were consolidated or deconsolidated for accounting purposes as of January 1, 2010 (based on financial information as of December 31, 2009), reflecting Citigroup\u2019s present understanding of the new accounting requirements and immediate implementation of the recently issued final risk-based capital rules regarding SFAS 166 and SFAS 167, was as follows:", + "||Incremental||\n|In billions of dollars|GAAP assets|Risk- weighted assets|-1|\n|Impact of consolidation||||\n|Credit cards|$86.3|$0.8||\n|Commercial paper conduits|28.3|13.0||\n|Student loans|13.6|3.7||\n|Private label consumer mortgages|4.4|1.3||\n|Municipal tender option bonds|0.6|0.1||\n|Collateralized loan obligations|0.5|0.5||\n|Mutual fund deferred sales commissions|0.5|0.5||\n|Subtotal|$134.2|$19.9||\n|Impact of deconsolidation||||\n|Collateralized debt obligations-2|$1.9|$3.6||\n|Equity-linked notes-3|1.2|0.5||\n|Total|$137.3|$24.0||\n", + "(1) Citigroup undertook certain actions during the first and second quarters of 2009 in support of its off-balance-sheet credit card securitization vehicles.", + "As a result of these actions, Citigroup included approximately $82 billion of incremental risk-weighted assets in its risk-based capital ratios as of March 31, 2009 and an additional approximate $900 million as of June 30, 2009.", + "See Note 23 to the Consolidated Financial Statements.", + "(2) The implementation of SFAS 167 will result in the deconsolidation of certain synthetic and cash collateralized debt obligation (CDO) VIEs that were previously consolidated under the requirements of ASC 810 (FIN 46(R)).", + "Upon deconsolidation of these synthetic CDOs, Citigroup\u2019s Consolidated Balance Sheet will reflect the recognition of current receivables and payables related to purchased and written credit default swaps entered into with these VIEs, which had previously been eliminated in consolidation.", + "The deconsolidation of certain cash CDOs will have a minimal impact on GAAP assets, but will cause a sizable increase in risk-weighted assets.", + "The impact on risk-weighted assets results from replacing, in Citigroup\u2019s trading account, largely investment grade securities owned by these VIEs when consolidated, with Citigroup\u2019s holdings of non-investment grade or unrated securities issued by these VIEs when deconsolidated.", + "(3) Certain equity-linked note client intermediation transactions that had previously been consolidated under the requirements of ASC 810 (FIN 46 (R)) will be deconsolidated with the implementation of SFAS 167.", + "Upon deconsolidation, Citigroup\u2019s Consolidated Balance Sheet will reflect both the equity\u0002linked notes issued by the VIEs and held by Citigroup as trading assets, as well as related trading liabilities in the form of prepaid equity derivatives.", + "These trading assets and trading liabilities were formerly eliminated in consolidation.", + "19.", + "GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in Goodwill during 2008 and 2009 were as follows:", + "|Balance at December 31, 2007|$41,053|\n|Sale of German retail bank|$-1,047|\n|Sale of CitiCapital|-221|\n|Sale of Citigroup Global Services Limited|-85|\n|Purchase accounting adjustments\u2014BISYS|-184|\n|Purchase of the remaining shares of Nikko Cordial\u2014net of purchase accounting adjustments|287|\n|Acquisition of Legg Mason Private Portfolio Group|98|\n|Foreign exchange translation|-3,116|\n|Impairment of goodwill|-9,568|\n|Smaller acquisitions, purchase accounting adjustments and other|-85|\n|Balance at December 31, 2008|$27,132|\n|Sale of Smith Barney|$-1,146|\n|Sale of Nikko Cordial Securities|-558|\n|Sale of Nikko Asset Management|-433|\n|Foreign exchange translation|547|\n|Smaller acquisitions/divestitures, purchase accounting adjustments and other|-150|\n|Balance at December 31, 2009|$25,392|\n", + "The changes in Goodwill by segment during 2008 and 2009 were as follows:", + "|In millions of dollars|Regional Consumer Banking|Institutional Clients Group|Citi Holdings|Corporate/ Other|Total|\n|Balance at December 31, 2007-1|$19,751|$9,288|$12,014|$\u2014|$41,053|\n|Goodwill acquired during 2008|$88|$108|$1,492|$\u2014|$1,688|\n|Goodwill disposed of during 2008|\u2014|\u2014|-1,378|\u2014|-1,378|\n|Goodwill impaired during 2008|-6,547|\u2014|-3,021|\u2014|-9,568|\n|Other-1|-4,006|775|-1,432|\u2014|-4,663|\n|Balance at December 31, 2008-1|$9,286|$10,171|$7,675|$\u2014|$27,132|\n|Goodwill acquired during 2009|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|\n|Goodwill disposed of during 2009|\u2014|-39|-2,248|\u2014|-2,287|\n|Other-1|307|225|15|\u2014|547|\n|Balance at December 31, 2009|$9,593|$10,357|$5,442|$\u2014|$25,392|\n", + "(1) Other changes in Goodwill primarily reflect foreign exchange effects on non-dollar-denominated goodwill, as well as purchase accounting adjustments.", + "Goodwill impairment testing is performed at a level below the business segments (referred to as a reporting unit).", + "The changes in the organizational structure in 2009 resulted in the creation of new reporting segments.", + "As a result, commencing with the second quarter of 2009, the Company has identified new reporting units as required under ASC 350, Intangibles\u2014 Goodwill and Other.", + "Goodwill affected by the reorganization has been reassigned from 10 reporting units to nine, using a fair value approach.", + "During 2009, goodwill was allocated to disposals and tested for impairment under the new reporting units.", + "The Company performed goodwill impairment testing for all reporting units as of April 1, 2009 and July 1, 2009.", + "Additionally, the Company performed an interim goodwill impairment test for the Local Consumer Lending\u2014Cards reporting unit as of November 30, 2009.", + "No goodwill was written off due to impairment in 2009.", + "During 2008, the share prices of financial stocks continued to be very volatile and were under considerable pressure in sustained turbulent markets.", + "In this environment, Citigroup\u2019s market capitalization remained below book value for most of the period and the Company performed goodwill impairment testing for all reporting units as of February 28, 2008, July 1, 2008 and December 31, 2008.", + "The results of the first step of the impairment test showed no indication of impairment in any of the reporting units at any of the periods except December 31, 2008 and, accordingly, the Company did not perform the second step of the impairment test, except for the test performed as of December 31, 2008.", + "As of December 31, 2008, there was an indication of impairment in the North America Consumer Banking, Latin America Consumer Banking, and Local Consumer Lending\u2014Other reporting units and, accordingly, the second step of testing was performed on these reporting units." + ], + "question_id": "simplong-test-187", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the change in advertising costs from 2001 to 2002?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "A summary of these various obligations at December 31, 2012, follows (in millions):", + "||Total|2013|2014 to2015|2016 to2017|Thereafter|\n|Reclamation and environmental obligationsa|$5,243|$246|$471|$329|$4,197|\n|Debt maturities|3,527|2|500|500|2,525|\n|Take-or-pay contractsb|2,200|976|731|286|207|\n|Scheduled interest payment obligationsc|1,289|121|241|226|701|\n|Operating lease obligations|205|32|38|31|104|\n|Totald|$12,464|$1,377|$1,981|$1,372|$7,734|\n", + "a.", + "Represents estimated cash payments, on an undiscounted and unescalated basis, associated with reclamation and environmental activities.", + "The timing and the amount of these payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for additional discussion of environmental and reclamation matters.", + "b.", + "Represents contractual obligations for purchases of goods or services that are defined by us as agreements that are enforceable and legally binding and that specify all significant terms.", + "Take-or\u0002pay contracts primarily comprise the procurement of copper concentrates ($799 million), electricity ($524 million) and transportation services ($448 million).", + "Some of our take-or-pay contracts are settled based on the prevailing market rate for the service or commodity purchased, and in some cases, the amount of the actual obligation may change over time because of market conditions.", + "Obligations for copper concentrates provide for deliveries of specified volumes to Atlantic Copper at market-based prices.", + "Electricity obligations are primarily for contractual minimum demand at the South America and Tenke mines.", + "Transportation obligations are primarily for South America contracted ocean freight and for North America rail freight.", + "c. Scheduled interest payment obligations were calculated using stated coupon rates for fixed-rate debt and interest rates applicable at December 31, 2012, for variable-rate debt.", + "d. This table excludes certain other obligations in our consolidated balance sheets, including estimated funding for pension obligations as the funding may vary from year to year based on changes in the fair value of plan assets and actuarial assumptions, accrued liabilities totaling $107 million that relate to unrecognized tax benefits where the timing of settlement is not determinable; Atlantic Copper's obligations for retired employees totaling $38 million (refer to Note 10); and PT Freeport Indonesia's reclamation and closure cash fund obligation totaling $17 million (refer to Note 13).", + "This table also excludes purchase orders for the purchase of inventory and other goods and services, as purchase orders typically represent authorizations to purchase rather than binding agreements.", + "In addition to our debt maturities and other contractual obligations discussed above, we have other commitments, which we expect to fund with available cash, projected operating cash flows, available credit facility or future financing transactions, if necessary.", + "These include (i) PT Freeport Indonesia\u2019s commitment to provide one percent of its annual revenue for the development of the local people in its area of operations through the Freeport Partnership Fund for Community Development, (ii) TFM\u2019s commitment to provide 0.3 percent of its annual revenue for the development of the local people in its area of operations and (iii) other commercial commitments, including standby letters of credit, surety bonds and guarantees.", + "Refer to Notes 13 and 14 for further discussion.", + "CONTINGENCIES Environmental The cost of complying with environmental laws is a fundamental and substantial cost of our business.", + "At December 31, 2012, we had $1.2 billion recorded in our consolidated balance sheets for environmental obligations attributed to CERCLA or analogous state programs and for estimated future costs associated with environmental obligations that are considered probable based on specific facts and circumstances.", + "During 2012, we incurred environmental capital expenditures and other environmental costs (including our joint venture partners\u2019 shares) of $612 million for programs to comply with applicable environmental laws and regulations that affect our operations, compared to $387 million in 2011 and $372 million in 2010.", + "The increase in environmental costs in 2012, compared with 2011 and 2010, primarily relates to higher expenditures for land and settlements of environmental matters (see Note 13 for further discussion).", + "For 2013, we expect to incur approximately $600 million of aggregate environmental capital expenditures and other environmental costs, which are part of our overall 2013 operating budget.", + "The timing and amount of estimated payments could change as a result of changes in regulatory requirements, changes in scope and timing of reclamation activities, the settlement of environmental matters and as actual spending occurs.", + "Refer to Note 13 for further information about environmental regulation, including significant environmental matters.", + "Asset Retirement Obligations We recognize AROs as liabilities when incurred, with the initial measurement at fair value.", + "These obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to income.", + "Reclamation costs for disturbances are recorded as an ARO in the period of disturbance.", + "Our cost estimates are reflected on a third-party cost basis and comply with our legal obligation to retire tangible, long-lived assets.", + "At December 31, 2012, we had $1.1 billion recorded in our consolidated balance sheets for AROs.", + "Spending", + "ILLUMINA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Advertising Costs The Company expenses advertising costs as incurred.", + "Advertising costs were approximately $440,000 for 2003, $267,000 for 2002 and $57,000 for 2001.", + "Income Taxes A deferred income tax asset or liability is computed for the expected future impact of differences between the financial reporting and tax bases of assets and liabilities, as well as the expected future tax benefit to be derived from tax loss and credit carryforwards.", + "Deferred income tax expense is generally the net change during the year in the deferred income tax asset or liability.", + "Valuation allowances are established when realizability of deferred tax assets is uncertain.", + "The effect of tax rate changes is reflected in tax expense during the period in which such changes are enacted.", + "Foreign Currency Translation The functional currencies of the Company\u2019s wholly owned subsidiaries are their respective local currencies.", + "Accordingly, all balance sheet accounts of these operations are translated to U. S. dollars using the exchange rates in effect at the balance sheet date, and revenues and expenses are translated using the average exchange rates in effect during the period.", + "The gains and losses from foreign currency translation of these subsidiaries\u2019 financial statements are recorded directly as a separate component of stockholders\u2019 equity under the caption \u2018\u2018Accumulated other comprehensive income.", + "\u2019\u2019 Stock-Based Compensation At December 28, 2003, the Company has three stock-based employee and non-employee director compensation plans, which are described more fully in Note 5.", + "As permitted by SFAS No.123, Accounting for Stock-Based Compensation, the Company accounts for common stock options granted, and restricted stock sold, to employees, founders and directors using the intrinsic value method and, thus, recognizes no compensation expense for options granted, or restricted stock sold, with exercise prices equal to or greater than the fair value of the Company\u2019s common stock on the date of the grant.", + "The Company has recorded deferred stock compensation related to certain stock options, and restricted stock, which were granted prior to the Company\u2019s initial public offering with exercise prices below estimated fair value (see Note 5), which is being amortized on an accelerated amortiza\u0002tion methodology in accordance with Financial Accounting Standards Board Interpretation Number (\u2018\u2018FIN\u2019\u2019) 28.", + "Pro forma information regarding net loss is required by SFAS No.123 and has been determined as if the Company had accounted for its employee stock options and employee stock purchases under the fair value method of that statement.", + "The fair value for these options was estimated at the dates of grant using the fair value option pricing model (Black Scholes) with the following weighted-average assumptions for 2003, 2002 and 2001:", + "||Year Ended December 28, 2003|Year Ended December 29, 2002|Year Ended December 30, 2001|\n|Weighted average risk-free interest rate|3.03%|3.73%|4.65%|\n|Expected dividend yield|0%|0%|0%|\n|Weighted average volatility|103%|104%|119%|\n|Estimated life (in years)|5|5|5|\n|Weighted average fair value of options granted|$3.31|$4.39|$7.51|\n", + "The Company renewed an unsecured bank credit line on April 29, 2010 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at June 30, 2010).", + "The credit line was renewed through April 29, 2012.", + "At June 30, 2010, $762 was outstanding.", + "The Company renewed a bank credit line on March 7, 2010 which provides for funding of up to $8,000 and bears interest at the Federal Reserve Board\u2019s prime rate (3.25% at June 30, 2010).", + "The credit line expires March 7, 2011 and is secured by $1,000 of investments.", + "At June 30, 2010, no amount was outstanding.", + "The Company has entered into a bank credit facility agreement that includes a revolving loan, a term loan and a bullet term loan.", + "The revolving loan allows short-term borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000.", + "The revolving loan terminates June 4, 2015.", + "At June 30, 2010, the outstanding revolving loan balance was $120,000.", + "The term loan has an original principal balance of $150,000, with quarterly principal payments of $5,625 beginning on September 30, 2011, and the remaining balance due June 4, 2015.", + "The bullet term loan had an original principal balance of $100,000.", + "The full balance, which would have been due on December 4, 2010, was paid in full on July 8, 2010 as set forth in Note 15 to the Consolidated Financial Statements (see Item 8).", + "Each of the loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company\u2019s leverage ratio.", + "The outstanding balances bear interest at a weighted average rate of 2.99%.", + "The loans are secured by pledges of capital stock of certain subsidiaries of the Company.", + "The loans are also guaranteed by certain subsidiaries of the Company.", + "The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement.", + "As of June 30, 2010, the Company was in compliance with all such covenants.", + "The Company has entered into various capital lease obligations for the use of certain computer equipment.", + "Included in property and equipment are related assets of $8,872.", + "At June 30, 2010, $5,689 was outstanding, of which $4,380 will be maturing in the next twelve months.", + "Contractual Obligations and Other Commitments At June 30, 2010 the Company\u2019s total off balance sheet contractual obligations were $36,935.", + "This balance consists of $27,228 of long-term operating leases for various facilities and equipment which expire from 2011 to 2017 and the remaining $9,707 is for purchase commitments related to property and equipment, particularly for contractual obligations related to the on-going construction of new facilities.", + "The table excludes $7,548 of liabilities for uncertain tax positions as we are unable to reasonably estimate the ultimate amount or timing of settlement.", + "Contractual obligations by Less than More than", + "|Contractual obligations by|Less than 1 year|||More than 5 years||\n|period as of June 30, 2010|1-3 years|3-5 years|TOTAL|\n|Operating lease obligations|$ 8,765|$ 9,422|$ 5,851|$ 3,190|$ 27,228|\n|Capital lease obligations|4,380|1,309|-|-|5,689|\n|Notes payable, including accrued interest|102,493|46,210|225,213|-|373,916|\n|Purchase obligations|9,707|-|-|-|9,707|\n|Total|$125,345|$56,941|$231,064|$3,190|$416,540|\n", + "Recent Accounting Pronouncements In December 2007, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Statement on Financial Accounting Standards (\u201cSFAS\u201d) No.141(R), \u201cBusiness Combinations,\u201d (\u201cSFAS 141(R)\u201d) which replaces SFAS No.141 and has since been incorporated into the Accounting Standards Codification (\u201cASC\u201d) as ASC 805-10.", + "ASC 805-10 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in the acquired entity and the goodwill acquired.", + "The Statement also establishes disclosure requirements which will enable users of the financial statements to evaluate the nature and financial effects of the business combination.", + "Relative to SFAS 141(R), the FASB issued FSP 141(R)-1 on April 1, 2009, which is now incorporated in ASC 805-20.", + "ASC 805-20 eliminates the requirement under FAS 141(R) to record assets and liabilities at the acquisition date for noncontractual contingencies at fair value where it is deemed \u201cmore-likely-than-not\u201d that an asset or liability would result.", + "Under ASC 805-20, such assets and liabilities would only need to be recorded where the fair value can be determined during the measurement period or where it is probable that an asset or liability exists at the acquisition date and the amount of fair value can be reasonably determined.", + "ASC 805-10 was effective for the Company on July 1, 2009.", + "The adoption", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2012/2011|2011/2010|\n|(Dollars in millions)|2012|2011|2010|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,073.1|$975.6|$865.4|$97.5|10.0%|$110.3|12.7%|\n|Net written premiums|852.1|820.5|620.3|31.6|3.9%|200.2|32.3%|\n|Premiums earned|$852.4|$821.2|$641.1|$31.3|3.8%|$180.1|28.1%|\n|Incurred losses and LAE|700.3|705.9|536.8|-5.6|-0.8%|169.2|31.5%|\n|Commission and brokerage|117.6|137.7|120.8|-20.1|-14.6%|16.9|14.0%|\n|Other underwriting expenses|103.0|89.5|69.7|13.5|15.1%|19.8|28.5%|\n|Underwriting gain (loss)|$-68.5|$-111.9|$-86.1|$43.5|-38.8%|$-25.8|30.0%|\n||||||Point Chg||Point Chg|\n|Loss ratio|82.2%|86.0%|83.7%||-3.8||2.3|\n|Commission and brokerage ratio|13.8%|16.8%|18.8%||-3.0||-2.0|\n|Other underwriting expense ratio|12.0%|10.8%|10.9%||1.2||-0.1|\n|Combined ratio|108.0%|113.6%|113.4%||-5.6||0.2|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums.", + "Gross written premiums increased by 12.7% to $975.6 million in 2011 compared to $865.4 million in 2010.", + "This was due to strategic portfolio changes with growth in short-tail business, primarily driven by the acquisition of Heartland, which provided $169.6 million of new crop insurance premium in 2011 and $54.0 million growth in A&H primary business, partially offset by the reduction of a large casualty program.", + "Net written premiums increased 32.3% to $820.5 million in 2011 compared to $620.3 million for the same period in 2010 due to higher gross premiums and reduced levels of ceded reinsurance, primarily due to the reduction of the large casualty program.", + "Premiums earned increased 28.1% to $821.2 million in 2011 compared to $641.1 million in 2010.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-188", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Interest cost in Table 1, what is the growth rate of Environmental in Table 0?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Survival Ratios-Asbestos and Environmental The following table presents AlG's survival ratios for asbestos and environmental claims for year-end 2006,2005 and 2004.", + "The survival ratio is derived by dividing the year end carried loss reserve by the average payments for the three most recent calendar years for these claims.", + "Therefore, the survival ratio is a simplistic measure estimating the number of years it would be before the current ending loss reser ves for these claims would be paid off using recent year average payments.", + "The December 31, 2006 survival ratio is lower than the ratio at December 31,2005because the more recent periods included in the rolling average reflect higher claims payments.", + "Many factors, such as aggressive settlement procedures, mix of business and level of coverage provided, have a significant effect on the amount of asbestos and environmental reserves and payments and the resultant survivalratio.", + "Thus, caution should be exercised in attempting to deter- mine reserve adequacy for these claims based simply on this survival ratio.", + "AlG's survival ratios for asbestos and environmental claims, separately and combined were based upon a three-year average payment.", + "These ratios for the years ended December 31,2006,2005 and 2004 were as follows:", + "||Gross|Net|\n| 2006|||\n|Survival ratios:|||\n|Asbestos| 11.7| 12.9|\n|Environmental| 5.3| 4.5|\n|Combined| 10.3| 10.3|\n|2005|||\n|Survival ratios:|||\n|Asbestos|15.9|19.8|\n|Environmental|6.9|6.2|\n|Combined|13.0|14.2|\n|2004|||\n|Survival ratios:|||\n|Asbestos|10.7|13.5|\n|Environmental|6.5|6.8|\n|Combined|9.1|10.5|\n", + "Life Insurance & Retirement Services Operations AIG's Life Insurance & Retirement Services subsidiaries offer a wide range of insurance and retirement savings products both domestically and abroad.", + "Domestically, AlG's Life Insurance & Retirement Services operations offer a broad range of protection products, such as life insurance and group life and health products, including disability income products and payout annuities, which include single premium immediate annuities, structured settlements and termi- nal funding annuities.", + "Home service operations include an array of life insurance, accident and health and annuity products soldprimarily through career agents.", + "In addition, home service in- cludes a small block of runoff property and casualty coverage.", + "Retirement services include group retirement products, individual fixed and variable annuities sold through banks, broker-dealers and exclusive sales representatives, and annuity runoff opera- tions, which include previously acquired\"closed blocks\"and other fixed and variable annuities largely sold through distribution relationships that have been discontinued.", + "Overseas, AlG's Life Insurance & Retirement Services opera- tions include insurance and investment-oriented products such as whole and term life, investment linked, universal life and endo- ments, personal accident and health products, group products including pension, life and health, and fixed and variable annuities.", + "AlG's Life Insurance & Retirement Ser vices subsidiaries reporttheir operations through the following major internal reporting units and business units: Foreign Life Insurance & Retirement Services Japan and Other* \u00b7ALICO \u00b7AlG Star Life \u00b7AIG Edison Life Asia\u00b7AIA \u00b7Nan Shan \u00b7AlRCO \u00b7Philamlife Domestic Life Insurance \u00b7AlG American General \u00b7USLIFE \u00b7AGLA Domestic Retirement Services \u00b7VALIC \u00b7AlG Annuity \u00b7AlG SunAmerica *Japan and Other consists of all operations in Japan and the operations of ALICO and its subsidi aries worldwide.", + "American International Group, Inc. and Subsidiaries 15.", + "Employee Benefits Continued (i) Components of net periodic benefit cost and other amounts recognized in other comprehensive income: The following table presents the components of net periodic benefit cost recognized in income and other amounts recognized in other comprehensive income with respect to the defined benefit pension plans and other postretirement benefit plans for the year ended December 31, 2006 (no amounts were recognized in other comprehensive income for the years ended 2005 and 2004):", + "||Pensions|Postretirement|\n|(in millions)|Non-U.S. Plans|U.S. Plans|Total|Non-U.S. Plans|U.S. Plans|Total|\n| 2006|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$78|$130|$208|$4|$6|$10|\n|Interest cost|36|169|205|2|11|13|\n|Expected return on assets|-28|-201|-229|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-9|-3|-12|\u2014|-6|-6|\n|Amortization of transitional obligation|1|\u2014|1|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|16|75|91|\u2014|\u2014|\u2014|\n|Other|1|6|7|\u2014|\u2014|\u2014|\n|Net periodic benefit cost|$95|$176|$271|$6|$11|$17|\n|Total recognized in other comprehensive income|$38|$24|$62|$\u2014|$\u2014|$\u2014|\n|Total recognized in net periodic benefit cost and other comprehensive income|$133|$200|$333|$6|$11|$17|\n|2005|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$71|$111|$182|$4|$5|$9|\n|Interest cost|32|153|185|2|11|13|\n|Expected return on assets|-21|-180|-201|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-10|-3|-13|\u2014|-6|-6|\n|Amortization of transitional obligation|1|\u2014|1|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|21|55|76|\u2014|\u2014|\u2014|\n|Other|7|1|8|\u2014|\u2014|\u2014|\n|Net periodic benefit cost|$101|$137|$238|$6|$10|$16|\n|2004|||||||\n|Components of net periodic benefit cost:|||||||\n|Service cost|$59|$101|$160|$3|$6|$9|\n|Interest cost|33|147|180|2|14|16|\n|Expected return on assets|-22|-170|-192|\u2014|\u2014|\u2014|\n|Amortization of prior service cost|-8|\u2014|-8|\u2014|-7|-7|\n|Amortization of transitional obligation|2|\u2014|2|\u2014|\u2014|\u2014|\n|Recognition of net actuarial (gains)/losses|15|53|68|11|2|13|\n|Other*|-24|\u2014|-24|3|\u2014|3|\n|Net periodic benefit cost|$55|$131|$186|$19|$15|$34|\n", + "* The reduction resulted from transferring to the Japanese government certain Japanese plan obligations approximating $50 million reduced by approximately $26 million loss incurred with respect to the settlement of those obligations.", + "For the U. S. plans, the estimated net loss, prior service credit and transition obligation for the defined benefit pension plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $37 million, $3 million and $0 million, respectively.", + "For the non-U.", + "S. plans, the estimated net loss, prior service credit and transition obligation for the defined benefit pension plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $11 million, $10 million and $1 million, respectively.", + "The estimated net loss, prior service credit and transition obligation for the other defined benefit postretirement plans that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year will be less than $5 million in the aggregate.", + "PART?III 59 ITEM?10.", + "DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE For the information required by this Item?10 with respect to our Executive Officers, see Part?I, Item 1. of this report.", + "For the other information required by this Item?10, see \u201cElection Of Directors,\u201d \u201cNominees for Election to the Board of Directors,\u201d \u201cCorporate Governance\u201d and \u201cSection?16(a) Beneficial Ownership Reporting Compliance,\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "The Proxy Statement for our 2019 Annual Meeting will be filed within 120?days after the end of the fiscal year covered by this Annual Report on Form 10-K.", + "ITEM?11.", + "EXECUTIVE COMPENSATION For the information required by this Item?11, see \u201cCompensation Discussion and Analysis,\u201d \u201cCompensation Committee Report,\u201d and \u201cExecutive Compensation\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "ITEM?12.", + "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS For the information required by this Item?12 with respect to beneficial ownership of our common stock, see \u201cSecurity Ownership of Certain Beneficial Owners and Management\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "The following table sets forth certain information as of December?31, 2018 regarding our equity plans :", + "|Plan Category|Number of Securitiesto be Issued UponExercise ofOutstanding Options, Warrants and Rights-1 (A)(B)|Weighted-AverageExercise Price ofOutstanding Options, Warrants and Rights|Number of SecuritiesRemaining Available forFuture Issuance UnderEquity CompensationPlans (ExcludingSecurities Reflected in Column (A)) (C)|\n|Equity compensation plans approved by security holders|1,471,449|$136.62|3,578,241|\n", + "(1) The number of securities in column (A) include 22,290 shares of common stock underlying performance stock units if maximum performance levels are achieved; the actual number of shares, if any, to be issued with respect to the performance stock units will be based on performance with respect to specified financial and relative stock price measures.", + "ITEM?13.", + "CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE For the information required by this Item?13, see \u201cCertain Transactions\u201d and \u201cCorporate Governance\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference.", + "ITEM?14.", + "PRINCIPAL ACCOUNTING FEES AND SERVICES For the information required by this Item?14, see \u201cAudit and Non-Audit Fees\u201d and \u201cAudit Committee Pre-Approval Procedures\u201d in the Proxy Statement for our 2019 Annual Meeting, which information is incorporated herein by reference." + ], + "question_id": "simplong-test-189", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of all Year Ended October 31, that are in the range of 0 and 5 in 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on November 1, 2010 or of results that may occur in the future.", + "|| Year Ended October 31,||\n|| 2012|| 2011||\n|| (in thousands)||\n|Revenue-1|$1,798,626||$1,682,036||\n|Net Income-1|$183,564|-2|$165,418|-2|\n", + "(1) Disclosure of the specific revenue contribution and net income of Magma subsequent to the acquisition, for the periods presented, is impracticable as the operations of Magma are integrated with the Company\u2019s operations and not separately tracked.", + "(2) 2012 supplemental pro forma net income was adjusted to exclude $33.5 million of acquisition\u0002related costs.", + "Corresponding periods of 2011 supplemental pro forma net income were adjusted to include these charges.", + "Other Fiscal 2012 Acquisitions During fiscal 2012, the Company acquired five other companies, including Emulation & Verification Engineering, S. A.", + "(EVE), for cash and preliminarily allocated the total purchase consideration of $212.9 million to the assets acquired and liabilities assumed based on their respective fair values at the acquisition dates, resulting in total goodwill of $123.4 million, of which $11.8 million is expected to be deductible for tax purposes.", + "Acquired identifiable intangible assets totaling $73.3 million were valued using appropriate valuation methods such as income or cost methods and are being amortized over their respective useful lives ranging from one to eight years.", + "During fiscal 2012, acquisition-related costs totaling $6.8 million were expensed as incurred in the consolidated statements of operations.", + "The Company continues to evaluate certain assets and liabilities related to business combinations completed within 12 months from the applicable acquisition date.", + "Additional information, which existed as of the acquisition date but is yet unknown to the Company, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date.", + "Changes to amounts recorded as assets or liabilities will be recorded as retrospective adjustments to the provisional amounts recognized as of the acquisition date and may result in a corresponding adjustment to goodwill.", + "Fiscal 2011 Acquisitions During fiscal 2011, the Company completed two acquisitions for cash and allocated the total purchase consideration of $37.4 million to the assets and liabilities acquired based on their respective fair values at the acquisition date resulting in goodwill of $30.6 million.", + "Acquired identifiable intangible assets of $9.3 million are being amortized over two to ten years.", + "Fiscal 2010 Acquisitions Virage Logic Corporation On September 2, 2010, the Company acquired all outstanding shares of Virage Logic Corporation (Virage).", + "Virage was a leading provider of embedded memories with test and repair, non-volatile memories (NVMs), logic libraries, and configurable cores for control and multimedia sub-systems.", + "The acquisition expanded the Company\u2019s DesignWare interface and analog IP portfolio.", + "Purchase Price.", + "Synopsys paid $12.00 per share for all outstanding shares, including vested awards of Virage for an aggregate cash payment of $299.5 million, net of cash acquired.", + "Additionally, the Company assumed unvested restricted stock units and stock appreciation rights, collectively called \u201cstock awards.", + "\u201d", + "Table of Contents SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued 54 Property and Equipment.", + "Property and equipment is recorded at cost less accumulated depreciation.", + "Assets, excluding land, are depreciated using the straight-line method over their estimated useful lives.", + "Leasehold improvements are amortized using the straight-line method over the remaining term of the lease or the economic useful life of the asset, whichever is shorter.", + "Depreciation expenses were $73.8 million, $71.1 million and $63.1 million in fiscal 2016, 2015 and 2014, respectively.", + "Repair and maintenance costs are expensed as incurred and such costs were $38.8 million, $32.3 million and $28.7 million in fiscal 2016, 2015 and 2014, respectively.", + "A summary of property and equipment, at cost less accumulated depreciation and amortization, as of October 31, 2016 and 2015 is as follows:", + "||October 31,|\n||2016|2015|\n||(in thousands)|\n|Computer and other equipment|$486,109|$436,425|\n|Buildings|68,194|67,943|\n|Furniture and fixtures|51,589|50,075|\n|Land|20,414|20,414|\n|Leasehold improvements|136,773|142,275|\n||763,079|717,132|\n|Less accumulated depreciation and amortization-1|-506,044|-454,055|\n|Total|$257,035|$263,077|\n", + "(1) Accumulated depreciation and amortization includes write-offs due to retirement of fully amortized fixed assets.", + "The useful lives of depreciable assets are as follows:", + "||Useful Life in Years|\n|Computer and other equipment|3-5|\n|Buildings|30|\n|Furniture and fixtures|5|\n|Leasehold improvements (average)|5|\n", + "Goodwill.", + "Goodwill represents the excess of the aggregate purchase price over the fair value of the net tangible and identifiable intangible assets acquired by the Company.", + "The carrying amount of goodwill is tested for impairment annually as of October 31 or more frequently if facts and circumstances warrant a review.", + "The Company determined that it is a single reporting unit for the purpose of goodwill impairment tests.", + "For purposes of assessing the impairment of goodwill, the Company estimates the value of the reporting unit using its market capitalization as the best evidence of fair value.", + "This fair value is then compared to the carrying value of the reporting unit.", + "During fiscal 2016, 2015 and 2014, there were no indicators of impairment to goodwill.", + "Intangible Assets.", + "Intangible assets consist of acquired technology, certain contract rights, customer relationships, trademarks and trade names, covenants not to compete, capitalized software, and in-process research and development.", + "These intangible assets are either acquired through business combinations, direct purchases, or internally developed capitalized software.", + "Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from one to ten years.", + "The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets, including property and equipment and intangible assets, may not be recoverable.", + "When such events or changes in circumstances occur, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such asset group will be recovered through the undiscounted future cash flow.", + "If the undiscounted future cash flow is less than the carrying amount of the asset group, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the asset group.", + "The Company had no impairments of any long-lived assets in fiscal 2016, 2015 or 2014.", + "The following is a summary of our restructuring activities:", + "|Fiscal Year|Balance at Beginning of Period|Costs Incurred (Reduced)|Cash Payments|Balance at End of Period|\n||(in millions)|\n|2017|$5.7|$36.6|$-24.8|$17.5|\n|2016|$\u2014|$9.6|$-3.9|$5.7|\n|2015|$\u2014|$15.1|$-15.1|$\u2014|\n", + "See Note 2 of Notes to Consolidated Financial Statements.", + "Other Income (Expense), Net", + "||Year Ended October 31,|$ Change|% Change|$ Change|% Change|\n||2017|2016|2015|2016 to 2017|2015 to 2016|\n||(dollars in millions)|\n|Interest income|$7.2|$3.7|$2.8|$3.5|95%|$0.9|32%|\n|Interest expense|-7.3|-3.8|-2.8|-3.5|92%|-1.0|36%|\n|Gain (loss) on assets related to executive deferred compensation plan|29.6|4.4|3.7|25.2|573%|0.7|19%|\n|Foreign currency exchange gain (loss)|3.4|0.2|6.3|3.2|1,600%|-6.1|-97%|\n|Other, net|2.6|7.7|5.1|-5.1|-66%|2.6|51%|\n|Total|$35.5|$12.2|$15.1|$23.3|191%|$-2.9|-19%|\n", + "The net increase in other income (expense) in fiscal 2017 as compared to fiscal 2016 was primarily due to higher gains in the market value of our executive deferred compensation plan assets.", + "The net decrease in other income (expense) in fiscal 2016 as compared to fiscal 2015 was primarily due to lower gains in foreign currency exchange as a result of the weakened U. S. dollar against the related foreign currencies, partially offset by increased income on foreign exchange hedging contracts that was recorded in Other, net.", + "Income Taxes Our effective tax rate for fiscal 2017 was 64.4%, which included income tax expense of $166.2 million relating to a repatriation of foreign earnings of $825 million in anticipation of potential U. S. corporate tax reform, $30.5 million due to an increase in valuation allowance on state deferred tax assets, a settlement with the Korean National Tax Service for the audit of fiscal years 2012 to 2016 of $7.9 million, and tax expense related to the integration of acquired technologies of $36.4 million.", + "These expenses were partially offset by excess tax benefits from stock-based compensation of $38.1 million, a U. S. federal research tax credit of $25.5 million, and a settlement with the Taiwanese tax authorities for fiscal 2014 of $10.9 million.", + "Our effective tax rate for fiscal 2016 was 19.0%, which included tax benefits from a settlement with the Internal Revenue Service (IRS) of $20.7 million for fiscal 2015 and the permanent reinstatement of the U. S. federal research tax credit of approximately $37.1 million, partially offset by tax expense from the integration of acquired technologies of $37.5 million, the impact of undistributed foreign earnings of $9.6 million, and an increase in the valuation allowance on deferred tax assets of $14.0 million as a result of changes in the expected utilization of state tax credits.", + "The reinstatement of the research tax credit resulted in an additional tax credit for ten months of fiscal 2015 and the full year of fiscal 2016, which was recorded in fiscal 2016.", + "Our effective tax rate for fiscal 2015 was 19.8%, which included tax expense from the integration of acquired technologies of $33.0 million partially offset by tax benefits from the reinstatement of the U. S. federal research tax credit of", + "VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 9.", + "Debt - continued Our revolving credit facility and senior unsecured notes contain financial covenants which require us to maintain minimum interest coverage ratios and limit our debt to market capitalization ratios.", + "We believe that we have complied with all of our financial covenants as of December 31, 2007.", + "On May 9, 2006, we executed supplemental indentures with respect to our senior unsecured notes due 2007, 2009 and 2010 (collectively, the \u201cNotes\u201d), pursuant to our consent solicitation statement dated April 18, 2006, as amended.", + "Holders of approximately 96.7% of the aggregate principal amount of the Notes consented to the solicitation.", + "The supplemental indentures contain modifications of certain covenants and related defined terms governing the terms of the Notes to make them consistent with corresponding provisions of the covenants and defined terms included in the senior unsecured notes due 2011 issued on February 16, 2006.", + "The supplemental indentures also include a new covenant that provides for an increase in the interest rate of the Notes upon certain decreases in the ratings assigned by rating agencies to the Notes.", + "In connection with the consent solicitation we paid an aggregate fee of $2,241,000 to the consenting note holders, which will be amortized into expense over the remaining term of the Notes.", + "In addition, we incurred advisory and professional fees aggregating $1,415,000, which were expensed in 2006.", + "The net carrying amount of properties collateralizing the notes and mortgages payable amounted to $10.920 billion at December 31, 2007.", + "As at December 31, 2007, the principal repayments required for the next five years and thereafter are as follows:" + ], + "question_id": "simplong-test-190", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of theU.S. dollars sold for Pounds sterling in the years where U.S. dollars sold for Pounds sterling is greater than 1?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) of certain of its assets and liabilities under its interest rate swap agreements held as of December 31, 2006 and entered into during the first half of 2007.", + "In addition, the Company paid $8.0 million related to a treasury rate lock agreement entered into and settled during the year ended December 31, 2008.", + "The cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% Notes.", + "During the year ended December 31, 2007, the Company also received $3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $1.4 billion, which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the Certificates issued in the Securitization in May 2007.", + "The settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges.", + "The Company also received $17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes.", + "This gain is included in other income in the accompanying consolidated statement of operations for the year ended December 31, 2007.", + "As of December 31, 2008 and 2007, other comprehensive (loss) income included the following items related to derivative financial instruments (in thousands):", + "||2008|2007|\n|Deferred loss on the settlement of the treasury rate lock, net of tax|$-4,332|$-4,901|\n|Deferred gain on the settlement of interest rate swap agreements entered into in connection with the Securitization, net oftax|1,238|1,636|\n|Unrealized losses related to interest rate swap agreements, net of tax|-16,349|-486|\n", + "During the years ended December 31, 2008 and 2007, the Company recorded an aggregate net unrealized loss of approximately $15.8 million and $3.2 million, respectively (net of a tax provision of approximately $10.2 million and $2.0 million, respectively) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $0.1 million and $6.2 million, respectively (net of an income tax provision of $2.0 million and an income tax benefit of $3.3 million, respectively) into results of operations.9.", + "FAIR VALUE MEASUREMENTS The Company determines the fair market values of its financial instruments based on the fair value hierarchy established in SFAS No.157, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.", + "The standard describes three levels of inputs that may be used to measure fair value.", + "Level 1 Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.", + "The Company\u2019s Level 1 assets consist of available-for-sale securities traded on active markets as well as certain Brazilian Treasury securities that are highly liquid and are actively traded in over-the-counter markets.", + "Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The Company issued 82,865, 93,367 and 105,239 of non-vested restricted stock units in 2017, 2016 and 2015, respectively, the majority of which provide for vesting as to all underlying shares on the third anniversary of the grant date.", + "The weighted average grant-date fair value for non-vested restricted stock units granted during 2017, 2016 and 2015 was $187.85, $142.71 and $118.00, respectively.", + "The Company recorded $11.2 million of expense related to restricted stock units during 2017, which is included in cost of goods sold or selling, general and administrative expenses.", + "The unamortized share-based compensation cost related to non-vested restricted stock units, net of expected forfeitures, was $13.2 million, which is expected to be recognized over a weighted-average period of 1.8 years.", + "The Company uses treasury stock to provide shares of common stock in connection with vesting of the restricted stock units.", + "TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) F-37 Note 13?\u2014 Income taxes The following table summarizes the components of the provision for income taxes from continuing operations:", + "||2017|2016|2015|\n||(Dollars in thousands)|\n|Current:||||\n|Federal|$133,621|$2,344|$-4,700|\n|State|5,213|5,230|2,377|\n|Foreign|35,444|28,842|53,151|\n|Deferred:||||\n|Federal|-258,247|-25,141|-35,750|\n|State|1,459|-1,837|-5,012|\n|Foreign|212,158|-1,364|-2,228|\n||$129,648|$8,074|$7,838|\n", + "The Tax Cuts and Jobs Act (the \u201cTCJA\u201d) was enacted on December 22, 2017.", + "The legislation significantly changes U. S. tax law by, among other things, permanently reducing corporate income tax rates from a maximum of 35% to 21%, effective January 1, 2018; implementing a territorial tax system, by generally providing for, among other things, a dividends received deduction on the foreign source portion of dividends received from a foreign corporation if specified conditions are met; and imposing a one-time repatriation tax on undistributed post-1986 foreign subsidiary earnings and profits, which are deemed repatriated for purposes of the tax.", + "As a result of the TCJA, the Company reassessed and revalued its ending net deferred tax liabilities at December 31, 2017 and recognized a?$46.1 million?provisional tax benefit in the Company\u2019s consolidated statement of income for the year ended December 31, 2017.", + "As a result of the deemed repatriation tax under the TCJA, the Company recognized a $154.0 million provisional tax expense in the Company\u2019s consolidated statement of income for the year ended December 31, 2017, and the Company expects to pay this tax over an eight-year period.", + "While the TCJA provides for a territorial tax system, beginning in 2018, it includes?two?new U. S. tax base erosion provisions, the global intangible low-taxed income (\u201cGILTI\u201d) provisions and the base-erosion and anti-abuse tax (\u201cBEAT\u201d) provisions.", + "The GILTI provisions require the Company to include in its U. S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary\u2019s tangible assets.", + "The Company expects that it will be subject to incremental U. S. tax on GILTI income beginning in 2018.", + "Because of the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the TCJA and the application of Financial Accounting Standards Board Accounting Standards Codification Topic 740, \"Income Taxes. \"", + "Under U. S. GAAP, the Company may make an accounting policy election to either (1) treat future taxes with respect to the inclusion in U. S. taxable income of amounts related to GILTI as current period expense when incurred (the \u201cperiod cost method\u201d) or (2) take such amounts into a company\u2019s measurement of its deferred taxes (the \u201cdeferred method\u201d).", + "The Company\u2019s selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on an analysis of the Company\u2019s global income to determine whether the Company expects to have future U. S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be.", + "The determination of whether the Company expects to have future U. S. inclusions", + "?", + "Miller Insurance Services LLP, which is a Pounds sterling functional entity, earns significant non-functional currency revenues, in which case the Company limits its exposure to exchange rate changes by the use of forward contracts matched to a percentage of forecast cash inflows in specific currencies and periods.", + "However, where the foreign exchange risk relates to any Pounds sterling pension benefits assets or liability for pension benefits, we do not hedge the risk.", + "Consequently, if our London market operations have a significant pension asset or liability, we may be exposed to accounting gains and losses, recognized in other comprehensive income or loss, if the U. S. dollar and Pounds sterling exchange rates change.", + "We do, however, hedge the Pounds sterling contributions into the pension plan.", + "Translation risk Outside our U. S. and London market operations, we predominantly earn revenues and incur expenses in the local currency.", + "When we translate the results and net assets of these operations into U. S. dollars for reporting purposes, movements in exchange rates will affect reported results and net assets.", + "For example, if the U. S. dollar strengthens against the Euro, the reported results of our Eurozone operations in U. S. dollar terms will be lower.", + "With the exception of foreign currency hedges for certain intercompany loans that are not designated as hedging instruments, we do not hedge translation risk.", + "The table below provides information about our foreign currency forward exchange contracts, which are sensitive to exchange rate risk.", + "The table summarizes the U. S. dollar equivalent amounts of each currency bought and sold forward and the weighted average contractual exchange rates.", + "All forward exchange contracts mature within three years.", + "||Settlement date before December 31,|\n||2017|2018|2019|\n|December 31, 2016|Contract amount|Average contractual exchange rate|Contract amount|Average contractual exchange rate|Contract amount|Average contractual exchange rate|\n||(millions)||(millions)||(millions)||\n|Foreign currency sold|||||||\n|U.S. dollars sold for Pounds sterling|$390|$1.51 = \u00a31|$268|$1.46 = \u00a31|$77|$1.39 = \u00a31|\n|Euro sold for U.S. dollars|74|\u20ac1 = $1.20|48|\u20ac1 = $1.19|14|\u20ac1 = $1.17|\n|Japanese yen sold for U.S. dollars|21|\u00a5110.85 = $1|13|\u00a5110.90 - $1|5|\u00a598.63 = $1|\n|Euro sold for Pounds sterling|22|\u20ac1 = \u00a31.21|9|1 = \u00a31.33|4|\u20ac1 = \u00a31.24|\n|Total|$507||$338||$100||\n|Fair value(i)|$-65||$-40||$-5||\n", + "(i) Represents the difference between the contract amount and the cash flow in U. S. dollars which would have been receivable had the foreign currency forward exchange contracts been entered into on December 31, 2016 at the forward exchange rates prevailing at that date." + ], + "question_id": "simplong-test-191", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Estimated Fair Value in terms of Other, what is the growth rate of Estimated Fair Value of Communications?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Subscription Cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure, including depreciation expenses and operating lease payments associated with computer equipment, data center costs, salaries and related expenses of network operations, implementation, account management and technical support personnel, amortization of intangible assets and allocated overhead.", + "We enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space, power and similar items.", + "Cost of subscription revenue increased due to the following:", + "||% Change2014-2013|% Change2013-2012|\n|Data center cost|10%|11%|\n|Compensation cost and related benefits associated with headcount|4|5|\n|Depreciation expense|3|3|\n|Royalty cost|3|4|\n|Amortization of purchased intangibles|\u2014|4|\n|Various individually insignificant items|1|\u2014|\n|Total change|21%|27%|\n", + "Cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs, compensation cost and related benefits, deprecation expense, and royalty cost.", + "Data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services.", + "Compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014, including from our acquisition of Neolane in the third quarter of fiscal 2013.", + "Depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business.", + "Royalty cost increased primarily due to increases in subscriptions and downloads of our SaaS offerings.", + "Cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles.", + "Hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services, depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount.", + "Amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of Behance and Neolane in fiscal 2013.", + "Services and Support Cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services, training and product support.", + "Cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers.", + "Cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount, including headcount from our acquisition of Neolane in fiscal 2013.", + "with the disposition of real estate property and other investment transactions.", + "The Company\u2019s recorded liabilities were $6 million at both December 31, 2008 and 2007 for indemnities, guarantees and commitments.", + "In connection with synthetically created investment transactions, the Company writes credit default swap obligations that generally require payment of principal outstanding due in exchange for the referenced credit obligation.", + "If a credit event, as defined by the contract, occurs the Company\u2019s maximum amount at risk, assuming the value of all referenced credit obligations is zero, was $1.9 billion at December 31, 2008.", + "However, the Company believes that any actual future losses will be significantly lower than this amount.", + "Additionally, the Company can terminate these contracts at any time through cash settlement with the counterparty at an amount equal to the then current estimated fair value of the credit default swaps.", + "As of December 31, 2008, the Company would have paid $37 million to terminate all of these contracts.", + "Other Commitments MetLife Insurance Company of Connecticut is a member of the Federal Home Loan Bank of Boston (the \u201cFHLB of Boston\u201d) and holds $70 million of common stock of the FHLB of Boston at both December 31, 2008 and 2007, which is included in equity securities.", + "MICC has also entered into funding agreements with the FHLB of Boston whereby MICC has issued such funding agreements in exchange for cash and for which the FHLB of Boston has been granted a blanket lien on certain MICC assets, including residential mortgage-backed securities, to collateralize MICC\u2019s obligations under the funding agreements.", + "MICC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "Upon any event of default by MICC, the FHLB of Boston\u2019s recovery on the collateral is limited to the amount of MICC\u2019s liability to the FHLB of Boston.", + "The amount of the Company\u2019s liability for funding agreements with the FHLB of Boston was $526 million and $726 million at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.", + "In addition, at December 31, 2008, MICC had advances of $300 million from the FHLB of Boston with original maturities of less than one year and therefore, such advances are included in short-term debt.", + "These advances and the advances on these funding agreements are collateralized by mortgage-backed securities with estimated fair values of $1.3 billion and $901 million at December 31, 2008 and 2007, respectively.", + "Metropolitan Life Insurance Company is a member of the FHLB of NY and holds $830 million and $339 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.", + "MLIC has also entered into funding agreements with the FHLB of NY whereby MLIC has issued such funding agreements in exchange for cash and for which the FHLB of NY has been granted a lien on certain MLIC assets, including residential mortgage-backed securities to collateralize MLIC\u2019s obligations under the funding agreements.", + "MLIC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "Upon any event of default by MLIC, the FHLB of NY\u2019s recovery on the collateral is limited to the amount of MLIC\u2019s liability to the FHLB of NY.", + "The amount of the Company\u2019s liability for funding agreements with the FHLB of NY was $15.2 billion and $4.6 billion at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.", + "The advances on these agreements are collateralized by mortgage-backed securities with estimated fair values of $17.8 billion and $4.8 billion at December 31, 2008 and 2007, respectively.", + "MetLife Bank is a member of the FHLB of NY and holds $89 million and $64 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.", + "MetLife Bank has also entered into repurchase agreements with the FHLB of NY whereby MetLife Bank has issued repurchase agreements in exchange for cash and for which the FHLB of NY has been granted a blanket lien on MetLife Bank\u2019s residential mortgages and mortgage-backed securities to collateralize MetLife Bank\u2019s obligations under the repurchase agreements.", + "MetLife Bank maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.", + "The repurchase agreements and the related security agreement represented by this blanket lien provide that upon any event of default by MetLife Bank, the FHLB of NY\u2019s recovery is limited to the amount of MetLife Bank\u2019s liability under the outstanding repurchase agreements.", + "The amount of the Company\u2019s liability for repurchase agreements with the FHLB of NY was $1.8 billion and $1.2 billion at December 31, 2008 and 2007, respectively, which is included in long-term debt and short-term debt depending on the original tenor of the advance.", + "The advances on these repurchase agreements are collateralized by residential mortgage\u0002backed securities and residential mortgage loans with estimated fair values of $3.1 billion and $1.3 billion at December 31, 2008 and 2007, respectively.", + "Collateral for Securities Lending The Company has non-cash collateral for securities lending on deposit from customers, which cannot be sold or repledged, and which has not been recorded on its consolidated balance sheets.", + "The amount of this collateral was $279 million and $40 million at December 31, 2008 and 2007, respectively.", + "Goodwill Goodwill is the excess of cost over the estimated fair value of net assets acquired.", + "Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances, such as adverse changes in the business climate, indicate that there may be justification for conducting an interim test.", + "Impairment testing is performed using the fair value approach, which requires the use of estimates and judgment, at the \u201creporting unit\u201d level.", + "A reporting unit is the operating segment or a business one level below the operating segment, if discrete financial information is prepared and regularly reviewed by management at that level.", + "Information regarding changes in goodwill is as follows:", + "|| December 31,|\n||2008| 2007| 2006|\n|| (In millions)|\n|Balance at beginning of the period,|$4,814|$4,801|$4,701|\n|Acquisitions -1|256|2|93|\n|Other, net -2|-62|11|7|\n|Balance at the end of the period|$5,008|$4,814|$4,801|\n", + "The Subsidiaries recognized no other postretirement benefit expense in 2008 as compared to $8 million in 2007 and $58 million in 2006.", + "The major components of net periodic other postretirement benefit plan cost described above were as follows:", + "||Years Ended December 31,|\n||2008|2007|2006|\n||(In millions)|\n|Service cost|$21|$27|$35|\n|Interest cost|103|103|116|\n|Expected return on plan assets|-86|-86|-79|\n|Amortization of net actuarial (gains) losses|-1|\u2014|22|\n|Amortization of prior service cost (credit)|-37|-36|-36|\n|Net periodic benefit cost|$\u2014|$8|$58|\n", + "The decrease in benefit cost from 2006 to 2007 primarily resulted from a change in the Medicare integration methodology for certain retirees.", + "The decrease in benefit cost from 2007 to 2008 was due to primarily to increases in the discount rate and better than expected medical trend experience.", + "For 2009 postretirement benefit expense, we anticipate an increase of approximately $25 million due to poor plan asset performance as a result of the economic downturn of the financial markets.", + "The expected increase in expense can be attributed to lower expected return on assets and increased amortization of net actuarial losses.", + "The estimated net actuarial losses and prior service credit for the other postretirement benefit plans that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost over the next year are less than $10 million and ($36) million, respectively.", + "The weighted average discount rate used to calculate the net periodic postretirement cost was 6.65%, 6.00% and 5.82% for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The weighted average expected rate of return on plan assets used to calculate the net other postretirement benefit plan cost for the years ended December 31, 2008, 2007 and 2006 was 7.33%, 7.47% and 7.42%, respectively.", + "The expected rate of return on plan assets is based on anticipated performance of the various asset sectors in which the plan invests, weighted by target allocation percentages.", + "Anticipated future performance is based on long-term historical returns of the plan assets by sector, adjusted for the Subsidiaries\u2019 long\u0002term expectations on the performance of the markets.", + "While the precise expected return derived using this approach will fluctuate from year to year, the Subsidiaries\u2019 policy is to hold this long-term assumption constant as long as it remains within reasonable tolerance from the derived rate.", + "Based on the December 31, 2008 asset balances, a 25 basis point increase (decrease) in the expected rate of return on plan assets would result in a decrease (increase) in net periodic benefit cost of $3 million for the other postretirement benefit plans.", + "Funding and Cash Flows of Pension and Other Postretirement Benefit Plan Obligations Pension Plan Obligations It is the Subsidiaries\u2019 practice to make contributions to the qualified pension plans to comply with minimum funding requirements of ERISA, as amended.", + "In accordance with such practice, no contributions were required for the years ended December 31, 2008 or 2007.", + "No contributions will be required for 2009.", + "The Subsidiaries made a discretionary contribution of $300 million to the qualified pension plans during the year ended December 31, 2008.", + "During the year ended December 31, 2007, the Subsidiaries did not make any discretionary contributions to the qualified pension plans.", + "The Subsidiaries expect to make additional discretionary contributions of $150 million in 2009.", + "Benefit payments due under the non-qualified pension plans are funded from the Subsidiaries\u2019 general assets as they become due under the provision of the plans.", + "These payments totaled $43 million and $48 million for the years ended December 31, 2008 and 2007, respectively.", + "These benefit payments are expected to be at approximately the same level in 2009.", + "Gross pension benefit payments for the next ten years, which reflect expected future service as appropriate, are expected to be as follows:", + "|| Pension Benefits (In millions)|\n|2009|$384|\n|2010|$398|\n|2011|$408|\n|2012|$424|\n|2013|$437|\n|2014-2018|$2,416|\n", + "Other Postretirement Benefit Plan Obligations Other postretirement benefits represent a non-vested, non-guaranteed obligation of the Subsidiaries and current regulations do not require specific funding levels for these benefits.", + "While the Subsidiaries have partially funded such plans in advance, it has been the Subsidiaries\u2019 practice to primarily use their general assets, net of participants\u2019 contributions, to pay postretirement medical claims as they come due in lieu of utilizing plan assets.", + "Total payments equaled $149 million and $173 million for the years ended December 31, 2008 and 2007, respectively.", + "The Subsidiaries\u2019 expect to make contributions of $120 million, net of participants\u2019 contributions, towards the other postretirement plan obligations in 2009.", + "As noted previously, the Subsidiaries expect to receive subsidies under the Prescription Drug Act to partially offset such payments.", + "Corporate Fixed Maturity Securities.", + "The table below shows the major industry types that comprise the corporate fixed maturity holdings at:", + "|| December 31,|\n||2008| 2007|\n|| Estimated |% of| Estimated | % of |\n|| Fair Value|Total| Fair Value| Total|\n|| (In millions)|\n|Foreign -1|$29,679|32.0%|$37,166|33.4%|\n|Finance|14,996|16.1|20,639|18.6|\n|Industrial|13,324|14.3|15,838|14.3|\n|Consumer|13,122|14.1|15,793|14.2|\n|Utility|12,434|13.4|13,206|11.9|\n|Communications|5,714|6.1|7,679|6.9|\n|Other|3,713|4.0|764|0.7|\n|Total|$92,982|100.0%|$111,085|100.0%|\n", + "(1) Includes U. S. dollar-denominated debt obligations of foreign obligors, and other fixed maturity foreign investments.", + "The Company maintains a diversified corporate fixed maturity portfolio across industries and issuers.", + "The portfolio does not have exposure to any single issuer in excess of 1% of the total invested assets of the portfolio.", + "At December 31, 2008 and 2007, the Company\u2019s combined holdings in the ten issuers to which it had the greatest exposure totaled $8.4 billion and $7.8 billion, respectively, the total of these ten issuers being less than 3% of the Company\u2019s total invested assets at such dates.", + "The exposure to the largest single issuer of corporate fixed maturity securities held at December 31, 2008 and 2007 was $1.5 billion and $1.2 billion, respectively.", + "The Company has hedged all of its material exposure to foreign currency risk in its corporate fixed maturity portfolio.", + "In the Company\u2019s international insurance operations, both its assets and liabilities are generally denominated in local currencies.", + "Structured Securities.", + "The following table shows the types of structured securities the Company held at:", + "|| December 31,|\n||2008| 2007|\n|| Estimated |% of| Estimated | % of |\n|| Fair Value|Total| Fair Value| Total|\n||| (In millions)||\n|Residential mortgage-backed securities:|||||\n|Collateralized mortgage obligations|$26,025|44.0%|$36,303|44.0%|\n|Pass-through securities|10,003|16.8|18,692|22.6|\n|Total residential mortgage-backed securities|36,028|60.8|54,995|66.6|\n|Commercial mortgage-backed securities|12,644|21.4|16,993|20.6|\n|Asset-backed securities|10,523|17.8|10,572|12.8|\n|Total|$59,195|100.0%|$82,560|100.0%|\n", + "Collateralized mortgage obligations are a type of mortgage-backed security that creates separate pools or tranches of pass-through cash flows for different classes of bondholders with varying maturities.", + "Pass-through mortgage-backed securities are a type of asset\u0002backed security that is secured by a mortgage or collection of mortgages.", + "The monthly mortgage payments from homeowners pass from the originating bank through an intermediary, such as a government agency or investment bank, which collects the payments, and for fee, remits or passes these payments through to the holders of the pass-through securities.", + "Residential Mortgage-Backed Securities.", + "At December 31, 2008, the exposures in the Company\u2019s residential mortgage-backed securities portfolio consist of agency, prime, and alternative residential mortgage loans (\u201cAlt-A\u201d) securities of 68%, 23%, and 9% of the total holdings, respectively.", + "At December 31, 2008 and 2007, $33.3 billion and $54.7 billion, respectively, or 92% and 99% respectively, of the residential mortgage-backed securities were rated Aaa/AAA by Moody\u2019s, S&P or Fitch.", + "The majority of the agency residential mortgage\u0002backed securities are guaranteed or otherwise supported by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Government National Mortgage Association.", + "Prime residential mortgage lending includes the origination of residential mortgage loans to the most credit-worthy customers with high quality credit profiles.", + "Alt-A residential mortgage loans are a classification of mortgage loans where the risk profile of the borrower falls between prime and sub-prime.", + "At December 31, 2008 and 2007, the Company\u2019s Alt-A residential mortgage-backed securities exposure was $3.4 billion and $6.3 billion, respectively, with an unrealized loss of $1,963 mil\u0002lion and $139 million, respectively.", + "At December 31, 2008 and December 31, 2007, $2.1 billion and $6.3 billion, respectively, or 63% and 99%, respectively, of the Company\u2019s Alt-A residential mortgage-backed securities were rated Aa/AA or better by Moody\u2019s, S&P or Fitch; At December 31, 2008 the Company\u2019s Alt-A holdings are distributed as follows: 23% 2007 vintage year, 25% 2006 vintage year; and 52% in the 2005 and prior vintage years.", + "Vintage year refers to the year of origination and not to the year of purchase.", + "In December 2008, certain Alt-A residential mortgage-backed securities experienced ratings downgrades from investment grade to below investment grade, con\u0002tributing to the decrease year over year cited above in those securities rated Aa/AA or better.", + "In January 2009 Moody\u2019s revised its loss projections for Alt-A residential mortgage-backed securities, and the Company anticipates that Moody\u2019s will be downgrading virtually all 2006 and 2007 vintage year Alt-A securities to below investment grade, which will increase the percentage of our Alt-A residential mortgage-backed securities portfolio that will be rated below investment grade.", + "Our analysis suggests that Moody\u2019s is applying essentially" + ], + "question_id": "simplong-test-192", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Collection: Residential, what's the increasing rate of Total Collection of Collection?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "REPUBLIC SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The components of the net deferred income tax asset and liability at December 31, 2008 and 2007 are as follows (in millions):", + "||2008|2007 -1|\n|Deferred tax liabilities relating to:|||\n|Difference between book and tax basis of property|$-1,257.9|$-544.5|\n|Accruals currently deductible|-110.9|-92.0|\n|Total liabilities|$-1,368.8|$-636.5|\n|Deferred tax assets relating to:|||\n|Difference between book and tax basis of property|$206.8|$55.4|\n|Accruals not currently deductible|504.1|140.9|\n|Deferred taxes on FIN 48 state tax and interest impact|99.1|\u2014|\n|Net operating loss carryforwards, state taxes|157.8|27.5|\n|Other credits and carryforwards|11.8|\u2014|\n|Capital loss carryforwards|18.6|\u2014|\n|Total assets|998.2|223.8|\n|Valuation allowance|-156.4|-27.5|\n|Net deferred tax asset|841.8|196.3|\n|Net deferred tax assets (liabilities)|$-527.0|$-440.2|\n", + "(1) Certain amounts above have been reclassified to conform to the current year\u2019s presentation.", + "We believe that it is more likely than not that the benefit from certain state net operating loss carryforwards will not be realized.", + "In recognition of this risk, we have provided a valuation allowance of $156.4 million on deferred tax assets relating to these state net operating loss carryforwards.", + "In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized after the initial recognition of the deferred tax asset.", + "We provide valuation allowances, as needed, to offset portions of deferred tax assets due to uncertainty surrounding the future realization of such deferred tax assets.", + "We adjust the valuation allowance in the period management determines it is more likely than not that deferred tax assets will or will not be realized.", + "We have recorded $107.1 million of deferred tax assets and $774.1 million of deferred income taxes and other long-term tax liabilities as part of our preliminary purchase price allocation for our acquisition of Allied.", + "This allocation is subject to change until we finalize our valuations and other estimates in 2009.", + "During the year ended December 31, 2008, we recorded a tax charge of $12.3 million related to non\u0002deductible compensation payouts as a result of the merger with Allied.", + "During the year ended December 31, 2007, we recorded a net tax benefit of $4.8 million in our provision for income taxes related to the resolution of various tax matters, including the effective completion of the Internal Revenue Service (IRS) audits of our consolidated tax returns for fiscal years 2001 through 2004.", + "Income tax expense for the year ended December 31, 2006 includes a $5.1 million benefit related to the resolution of various income tax matters, including the effective completion of IRS audits for the years 1998 through 2000.", + "We made income tax payments (net of refunds received) of approximately $128.3 million, $151.9 million and $198.8 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "During 2008, approximately $32.0 million of federal tax payments have been deferred until February 2009 as a result of the merger with Allied.", + "Approximately $83.0 million of income taxes paid during the year ended December 31, 2006 related to fiscal 2005.", + "This $83.0 million payment had been deferred as a result of an IRS notice issued in response to Hurricane Katrina.", + "REPUBLIC SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table shows our total reported revenue by service line for the respective years ended December 31 (in millions).", + "Intercompany revenue has been eliminated.", + "||2008|2007|2006|\n|Collection:||||\n|Residential|$966.0|$802.1|$758.3|\n|Commercial|1,161.4|944.4|883.6|\n|Industrial|711.4|645.6|654.1|\n|Other|23.2|19.5|22.4|\n|Total Collection|2,862.0|2,411.6|2,318.4|\n|Transfer and disposal|1,343.4|1,192.5|1,182.1|\n|Less: Intercompany|-683.5|-612.3|-588.6|\n|Transfer and Disposal, Net|659.9|580.2|593.5|\n|Other|163.2|184.4|158.7|\n|Revenue|$3,685.1|$3,176.2|$3,070.6|\n", + "15.", + "OTHER COMPREHENSIVE INCOME Fuel Hedges We have entered into multiple option agreements related to forecasted diesel fuel purchases.", + "Under SFAS 133, the options qualified for, and were designated as, effective hedges of changes in the prices of forecasted diesel fuel purchases (fuel hedges).", + "The following table summarizes our outstanding fuel hedges at December 31, 2008 and 2007:", + "||||Notional Amount||\n||||(in Gallons|Contract Price|\n|Inception Date|Commencement Date|Termination Date|Per Month)|per Gallon|\n|September 22, 2008|January 1, 2009|December 31, 2011|150,000|$4.1600-4.1700|\n|March 17, 2008|January 5, 2009|December 31, 2012|50,000|3.7200|\n|March 17, 2008|January 5, 2009|December 31, 2012|50,000|3.7400|\n|November 5, 2007|January 5, 2009|December 30, 2013|60,000|3.2815|\n|January 26, 2007|January 7, 2008|December 29, 2008|500,000|2.8285|\n|January 26, 2007|January 5, 2009|December 28, 2009|500,000|2.8270|\n|January 26, 2007|January 4, 2010|December 27, 2010|500,000|2.8100|\n|August 29, 2006|October 2, 2006|December 31, 2007|500,000|3.1450|\n", + "If the national U. S. on-highway average price for a gallon of diesel fuel (average price) as published by the Department of Energy exceeds the contract price per gallon, we receive the difference between the average price and the contract price (multiplied by the notional gallons) from the counter-party.", + "If the national U. S. on-highway average price for a gallon of diesel fuel is less than the contract price per gallon, we pay the difference to the counter-party.", + "The fair values of the fuel hedges are obtained from third-party counter-parties and are determined using standard option valuation models with assumptions about commodity prices being based on those observed in underlying markets (Level 2 in the fair value hierarchy).", + "The aggregated fair values of the outstanding fuel hedges at December 31, 2008 and 2007 were $11.7 million and $11.4 million, respectively, and have been recorded in other current liabilities and other current assets in our consolidated balance sheets, respectively.", + "In accordance with SFAS 133, the effective portions of the changes in fair values as of December 31, 2008 and 2007, net of tax, of $7.1 million and $6.9 million, respectively, have been recorded in stockholders\u2019", + "REPUBLIC SERVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) total notional value of $210.0 million, matured in August 2011.", + "This maturity was identical to our unsecured notes that also matured in August 2011.", + "Under the swap agreements, we paid interest at floating rates based on changes in LIBOR and received interest at a fixed rate of 6.75%.", + "We reduced interest expense by $5.4 million and $8.5 million due to periodic settlements of active swap agreements during years ended December 31, 2011 and 2010.", + "At December 31, 2012 and 2011 we had no interest rate swap agreements outstanding.", + "From time to time, we enter into treasury and interest rate locks to manage exposure to fluctuations in interest rates in anticipation of future debt issuances.", + "These transactions are accounted for as a cash flow hedges.", + "As of December 31, 2012 and 2011, no interest rate lock cash flow hedges were outstanding.", + "During the second quarter 2012, we entered into a number of interest rate lock agreements having an aggregate notional amount of $200.0 million with fixed interest rates approximating 2.20% to manage exposure to fluctuations in interest rates in anticipation of the planned issuance of the 3.550% Notes.", + "Upon issuance of the 3.550% Notes, we terminated the interest rate locks and paid $4.8 million to the counterparties.", + "The effective portion of the interest rate locks, recorded as a component of accumulated other comprehensive income, was $4.7 million, or $2.7 million net of tax.", + "During the first and second quarters of 2011, we entered into a number of interest rate lock agreements having an aggregate notional amount of $725.0 million with fixed interest rates ranging from 3.10% to 4.61% to manage exposure to fluctuations in interest rates in anticipation of the planned issuance of the 2011 Notes.", + "Upon issuance of the 2011 Notes, we terminated the interest rate locks and paid $36.5 million to the counterparties.", + "The effective portion of the interest rate locks, recorded as a component of accumulated other comprehensive income, was $36.2 million, or $21.2 million net of tax.", + "During the first quarter of 2010, we entered into interest rate lock agreements having an aggregate notional amount of $500.0 million to hedge interest rates in connection with the issuance of the 2010 Notes.", + "Upon issuance of these notes, we terminated the interest rate locks and paid approximately $7.0 million to the counterparties.", + "The effective portion of the interest rate locks, recorded as a component of accumulated other comprehensive income, was $6.4 million or $3.7 million net of tax.", + "As of December 31, 2012 and December 31, 2011, the effective portion of the interest rate locks, recorded as a component of accumulated other comprehensive income, was $24.6 million and $23.2 million, respectively.", + "The effective portion of the interest rate locks will be amortized as an adjustment to interest expense over the life of the issued debt using the effective interest rate method.", + "We expect to amortize $2.5 million over the next twelve months as a yield adjustment to our senior notes.", + "The effective portion of the interest rate locks amortized as a net increase to interest expense during the years ended December 31, 2012, 2011 and 2010 was $2.2 million, $1.4 million and $0.4 million, respectively.10.", + "INCOME TAXES The components of the provision for income taxes for the years ended December 31, are as follows:", + "||2012|2011|2010|\n|Current:||||\n|Federal|$228.7|$201.7|$253.9|\n|State|29.2|38.6|50.2|\n|Federal and state deferred provision|83.9|334.8|61.4|\n|Uncertain tax positions and interest, and other|-90.0|-257.7|4.0|\n|Provision for income taxes|$251.8|$317.4|$369.5|\n", + "REPUBLIC SERVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) high quality financial institutions.", + "Such balances may be in excess of FDIC insured limits.", + "To manage the related credit exposure, we continually monitor the credit worthiness of the financial institutions where we have deposits.", + "Concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services, as well as the dispersion of our operations across many geographic areas.", + "We provide services to commercial, industrial, municipal and residential customers in the United States and Puerto Rico.", + "We perform ongoing credit evaluations of our customers, but do not require collateral to support customer receivables.", + "We establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information.", + "No customer exceeded 5% of our outstanding accounts receivable balance at December 31, 2012 and 2011.", + "Accounts Receivable, Net of Allowance for Doubtful Accounts Accounts receivable represent receivables from customers for collection, transfer, recycling, disposal and other services.", + "Our receivables are recorded when billed or when the related revenue is earned, if earlier, and represent claims against third parties that will be settled in cash.", + "The carrying value of our receivables, net of the allowance for doubtful accounts, represents their estimated net realizable value.", + "Provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience, the age of the receivables, specific customer information and economic conditions.", + "We also review outstanding balances on an account-specific basis.", + "In general, reserves are provided for accounts receivable in excess of ninety days old.", + "Past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due.", + "The following table reflects the activity in our allowance for doubtful accounts for the years ended December 31, 2012, 2011 and 2010:", + "||2012|2011|2010|\n|Balance at beginning of year|$48.1|$50.9|$55.2|\n|Additions charged to expense|29.7|21.0|23.6|\n|Accounts written-off|-32.5|-23.8|-27.9|\n|Balance at end of year|$45.3|$48.1|$50.9|\n", + "Restricted Cash and Marketable Securities As of December 31, 2012, we had $164.2 million of restricted cash and marketable securities.", + "We obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills, transfer stations, collection and recycling centers.", + "The funds are deposited directly into trust accounts by the bonding authorities at the time of issuance.", + "As the use of these funds is contractually restricted, and we do not have the ability to use these funds for general operating purposes, they are classified as restricted cash and marketable securities in our consolidated balance sheets.", + "In the normal course of business, we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts, closure or post\u0002closure of landfills, environmental remediation, environmental permits, and business licenses and permits as a financial guarantee of our performance.", + "At several of our landfills, we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts." + ], + "question_id": "simplong-test-193", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Investment Bank for Total develops with the same increasing rate in 2009, what will it reach in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis The table below presents our average monthly assets under supervision by asset class.", + "||Average for theYear Ended December|\n|$ in billions|2017|2016|2015|\n|Alternative investments|$ 162|$ 149|$ 145|\n|Equity|292|256|247|\n|Fixed income|633|578|530|\n|Total long-term AUS|1,087|983|922|\n|Liquidity products|330|326|272|\n|Total AUS|$1,417|$1,309|$1,194|\n", + "Operating Environment.", + "During 2017, Investment Management operated in an environment characterized by generally higher asset prices, resulting in appreciation in both equity and fixed income assets.", + "In addition, our long\u0002term assets under supervision increased from net inflows primarily in fixed income and alternative investment assets.", + "These increases were partially offset by net outflows in liquidity products.", + "As a result, the mix of average assets under supervision during 2017 shifted slightly from liquidity products to long-term assets under supervision as compared to the mix at the end of 2016.", + "In the future, if asset prices decline, or investors favor assets that typically generate lower fees or investors withdraw their assets, net revenues in Investment Management would likely be negatively impacted.", + "Following a challenging first quarter of 2016, market conditions improved during the remainder of 2016 with higher asset prices resulting in full year appreciation in both equity and fixed income assets.", + "Also, our assets under supervision increased during 2016 from net inflows, primarily in fixed income assets, and liquidity products.", + "The mix of our average assets under supervision shifted slightly compared with 2015 from long-term assets under supervision to liquidity products.", + "Management fees were impacted by many factors, including inflows to advisory services and outflows from actively-managed mutual funds.2017 versus 2016.", + "Net revenues in Investment Management were $6.22 billion for 2017, 7% higher than 2016, due to higher management and other fees, reflecting higher average assets under supervision, and higher transaction revenues.", + "During the year, total assets under supervision increased $115 billion to $1.49 trillion.", + "Long\u0002term assets under supervision increased $128 billion, including net market appreciation of $86 billion, primarily in equity and fixed income assets, and net inflows of $42 billion (which includes $20 billion of inflows in connection with the Verus acquisition and $5 billion of equity asset outflows in connection with the Australian divestiture), primarily in fixed income and alternative investment assets.", + "Liquidity products decreased $13 billion (which includes $3 billion of inflows in connection with the Verus acquisition).", + "Operating expenses were $4.80 billion for 2017, 3% higher than 2016, primarily due to increased compensation and benefits expenses, reflecting higher net revenues.", + "Pre-tax earnings were $1.42 billion in 2017, 25% higher than 2016.2016 versus 2015.", + "Net revenues in Investment Management were $5.79 billion for 2016, 7% lower than 2015.", + "This decrease primarily reflected significantly lower incentive fees compared with a strong 2015.", + "In addition, management and other fees were slightly lower, reflecting shifts in the mix of client assets and strategies, partially offset by the impact of higher average assets under supervision.", + "During 2016, total assets under supervision increased $127 billion to $1.38 trillion.", + "Long-term assets under supervision increased $75 billion, including net inflows of $42 billion, primarily in fixed income assets, and net market appreciation of $33 billion, primarily in equity and fixed income assets.", + "In addition, liquidity products increased $52 billion.", + "Operating expenses were $4.65 billion for 2016, 4% lower than 2015, due to decreased compensation and benefits expenses, reflecting lower net revenues.", + "Pre-tax earnings were $1.13 billion in 2016, 17% lower than 2015.", + "Geographic Data See Note 25 to the consolidated financial statements for a summary of our total net revenues, pre-tax earnings and net earnings by geographic region.", + "ferred capital debt securities, as issuances of FDIC-guaranteed debt and non-FDIC guaranteed debt in both the U. S. and European markets were more than offset by redemptions.", + "Cash proceeds resulted from an increase in securities loaned or sold under repur\u0002chase agreements, partly attributable to favorable pricing and to financing the increased size of the Firm\u2019s AFS securities portfolio; and the issuance of $5.8 billion of common stock.", + "There were no repurchases in the open market of common stock or the warrants during 2009.", + "In 2008, net cash provided by financing activities was $247.8 billion due to: growth in wholesale deposits, in particular, inter\u0002est- and noninterest-bearing deposits in TSS (driven by both new and existing clients, and due to the deposit inflows related to the heightened volatility and credit concerns affecting the global markets that began in the third quarter of 2008), as well as increases in AM and CB (due to organic growth); proceeds of $25.0 billion from the issuance of preferred stock and the War\u0002rant to the U. S. Treasury under the Capital Purchase Program; additional issuances of common stock and preferred stock used for general corporate purposes; an increase in other borrowings due to nonrecourse secured advances under the Federal Reserve Bank of Boston AML Facility to fund the purchase of asset-backed commercial paper from money market mutual funds; increases in federal funds purchased and securities loaned or sold under repurchase agreements in connection with higher client demand for liquidity and to finance growth in the Firm\u2019s AFS securities portfolio; and a net increase in long-term debt due to a combina\u0002tion of non-FDIC guaranteed debt and trust preferred capital debt securities issued prior to December 4, 2008, and the issuance of $20.8 billion of FDIC-guaranteed long-term debt issued during the fourth quarter of 2008.", + "The fourth-quarter FDIC-guaranteed debt issuance was offset partially by maturities of non-FDIC guaranteed long-term debt during the same period.", + "The increase in long-term debt (including trust preferred capital debt securities) was used primarily to fund certain illiquid assets held by the parent holding company and to build liquidity.", + "Cash was also used to pay dividends on common and preferred stock.", + "The Firm did not repurchase any shares of its common stock during 2008.", + "In 2007, net cash provided by financing activities was $184.1 billion due to a net increase in wholesale deposits from growth in business volumes, in particular, interest-bearing deposits at TSS, AM and CB; net issuances of long-term debt (including trust preferred capital debt securities) primarily to fund certain illiquid assets held by the parent holding company and build liquidity, and by IB from client-driven structured notes transactions; and growth in commercial paper issuances and other borrowed funds due to growth in the volume of liability balances in sweep ac\u0002counts in TSS and CB, and to fund trading positions and to fur\u0002ther build liquidity.", + "Cash was used to repurchase common stock and pay dividends on common stock.", + "Credit ratings The cost and availability of financing are influenced by credit rat\u0002ings.", + "Reductions in these ratings could have an adverse effect on the Firm\u2019s access to liquidity sources, increase the cost of funds, trigger additional collateral or funding requirements and decrease the number of investors and counterparties willing to lend to the Firm.", + "Additionally, the Firm\u2019s funding requirements for VIEs and other third-party commitments may be adversely affected.", + "For additional information on the impact of a credit ratings downgrade on the funding requirements for VIEs, and on derivatives and collat\u0002eral agreements, see Special-purpose entities on pages 86\u201387 and Ratings profile of derivative receivables marked to market (\u201cMTM\u201d), and Note 5 on page 111 and pages 175\u2013183, respec\u0002tively, of this Annual Report.", + "Critical factors in maintaining high credit ratings include a stable and diverse earnings stream, strong capital ratios, strong credit quality and risk management controls, diverse funding sources, and disciplined liquidity monitoring procedures.", + "The credit ratings of the parent holding company and each of the Firm\u2019s significant banking subsidiaries as of January 15, 2010, were as follows.", + "||Short-term debt|Senior long-term debt|\n||Moody\u2019s|S&P|Fitch|Moody\u2019s|S&P|Fitch|\n|JPMorgan Chase & Co.|P-1|A-1|F1+|Aa3|A+|AA-|\n|JPMorgan Chase Bank, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n|Chase Bank USA, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n", + "Ratings actions affecting the Firm On March 4, 2009, Moody\u2019s revised the outlook on the Firm to negative from stable.", + "This action was the result of Moody\u2019s view that the Firm\u2019s ability to generate capital would be adversely af\u0002fected by higher credit costs due to the global recession.", + "The rating action by Moody\u2019s in the first quarter of 2009 did not have a mate\u0002rial impact on the cost or availability of the Firm\u2019s funding.", + "At December 31, 2009, Moody\u2019s outlook remained negative.", + "Ratings from S&P and Fitch on JPMorgan Chase and its principal bank subsidiaries remained unchanged at December 31, 2009, from December 31, 2008.", + "At December 31, 2009, S&P\u2019s outlook remained negative, while Fitch\u2019s outlook remained stable.", + "Following the Firm\u2019s earnings release on January 15, 2010, S&P and Moody\u2019s announced that their ratings on the Firm remained unchanged.", + "If the Firm\u2019s senior long-term debt ratings were downgraded by one additional notch, the Firm believes the incremental cost of funds or loss of funding would be manageable, within the context of current market conditions and the Firm\u2019s liquidity resources.", + "JPMorgan Chase\u2019s unsecured debt does not contain requirements that would call for an acceleration of payments, maturities or changes in the structure of the existing debt, provide any limitations on future borrowings or require additional collateral, based on unfavorable", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. /2009 Annual Report 122 Residential real estate loan modification activities: During 2009, the Firm reviewed its residential real estate portfolio to identify homeowners most in need of assistance, opened new regional counseling centers, hired additional loan counselors, introduced new financing alternatives, proactively reached out to borrowers to offer pre-qualified modifications, and commenced a new process to independently review each loan before moving it into the foreclosure process.", + "In addition, during the first quarter of 2009, the U. S. Treasury introduced the MHA programs, which are designed to assist eligible homeowners in a number of ways, one of which is by modifying the terms of their mortgages.", + "The Firm is participating in the MHA programs while continuing to expand its other loss-mitigation efforts for financially distressed borrowers who do not qualify for the MHA programs.", + "The MHA programs and the Firm\u2019s other loss-mitigation programs for financially troubled borrowers generally represent various conces\u0002sions such as term extensions, rate reductions and deferral of principal payments that would have otherwise been required under the terms of the original agreement.", + "When the Firm modi\u0002fies home equity lines of credit in troubled debt restructurings, future lending commitments related to the modified loans are canceled as part of the terms of the modification.", + "Under all of these programs, borrowers must make at least three payments under the revised contractual terms during a trial modification period and be successfully re-underwritten with income verifica\u0002tion before their loans can be permanently modified.", + "The Firm\u2019s loss-mitigation programs are intended to minimize economic loss to the Firm, while providing alternatives to foreclosure.", + "The success of these programs is highly dependent on borrowers\u2019 ongoing ability and willingness to repay in accordance with the modified terms and could be adversely affected by additional deterioration in the economic environment or shifts in borrower behavior.", + "For both the Firm\u2019s on-balance sheet loans and loans serviced for others, approximately 600,000 mortgage modifica\u0002tions had been offered to borrowers in 2009.", + "Of these, 89,000 have achieved permanent modification.", + "Substantially all of the loans contractually modified to date were modified under the Firm\u2019s other loss mitigation programs.", + "The following table presents information relating to restructured on-balance sheet residential real estate loans for which concessions have been granted to borrowers experiencing financial difficulty as of December 31, 2009.", + "Modifications of purchased credit-impaired loans con\u0002tinue to be accounted for and reported as purchased credit-impaired loans, and the impact of the modification is incorporated into the Firm\u2019s quarterly assessment of whether a probable and/or significant change in estimated future principal cash flows has occurred.", + "Modifications of loans other than purchased credit-impaired are generally accounted for and reported as troubled debt restructurings.", + "Restructured residential real estate loans(a)", + "| December 31, 2009|On-balance sheet loans|Nonperforming on-balance sheet loans(d)|\n|(in millions)|\n| Restructured residential real estate loans \u2013 excludingpurchased credit-impaired loans(b)|||\n|Home equity \u2013 senior lien|$168|$30|\n|Home equity \u2013 junior lien|222|43|\n|Prime mortgage|634|243|\n|Subprime mortgage|1,998|598|\n|Option ARMs|8|6|\n| Total restructured residential real estate loans \u2013 excluding purchased credit-impaired loans|$3,030|$920|\n| Restructured purchased credit-impaired loans(c)|||\n|Home equity|$453|NA|\n|Prime mortgage|1,526|NA|\n|Subprime mortgage|1,954|NA|\n|Option ARMs|2,972|NA|\n| Total restructured purchased credit-impaired loans|$6,905|NA|\n", + "(a) Restructured residential real estate loans were immaterial at December 31, 2008.", + "(b) Amounts represent the carrying value of restructured residential real estate loans.", + "(c) Amounts represent the unpaid principal balance of restructured purchased credit-impaired loans.", + "(d) Nonperforming loans modified in a troubled debt restructuring may be returned to accrual status when repayment is reasonably assured and the borrower has made a minimum of six payments under the new terms.", + "Real estate owned (\u201cREO\u201d): As part of the residential real estate foreclosure process, loans are written down to the fair value of the underlying real estate asset, less costs to sell.", + "In those in\u0002stances where the Firm gains title, ownership and possession of individual properties at the completion of the foreclosure process, these REO assets are managed for prompt sale and disposition at the best possible economic value.", + "Any further gains or losses on REO assets are recorded as part of other income.", + "Operating ex\u0002pense, such as real estate taxes and maintenance, are charged to other expense.", + "REO assets declined from year-end 2008 as a result of the foreclosure moratorium in early 2009 and the subsequent increase in loss mitigation activities.", + "It is anticipated that REO assets will increase over the next several quarters, as loans moving through the foreclosure process are expected to increase.", + "The calculation of the allowance for loan losses to total retained loans, excluding both home lending purchased credit-impaired loans and loans held by the Washington Mutual Master Trust, is presented below.", + "|December 31, (in millions, except ratios)|2009|2008|\n|Allowance for loan losses|$31,602|$23,164|\n|Less: Allowance for purchased credit-impaired loans|1,581|\u2014|\n|Adjusted allowance for loan losses|$30,021|$23,164|\n|Total loans retained|$627,218|$728,915|\n|Less: Firmwide purchased credit-impaired loans|81,380|89,088|\n|Loans held by the Washington Mutual Master Trust|1,002|\u2014|\n|Adjusted loans|$544,836|$639,827|\n| Allowance for loan losses to ending loans excluding purchased credit-impaired loans and loans held by the Washington Mutual Master Trust|5.51%|3.62%|\n", + "The following table presents the allowance for credit losses by business segment at December 31, 2009 and 2008.", + "||Allowance for credit losses|\n|| 2009|2008|\n|December 31,||Lending-related|||Lending-related||\n|(in millions)|Loan losses|commitments|Total|Loan losses|commitments|Total|\n|Investment Bank|$3,756|$485|$4,241|$3,444|$360|$3,804|\n|Commercial Banking|3,025|349|3,374|2,826|206|3,032|\n|Treasury & Securities Services|88|84|172|74|63|137|\n|Asset Management|269|9|278|191|5|196|\n|Corporate/Private Equity|7|\u2014|7|10|\u2014|10|\n| Total Wholesale|7,145|927|8,072|6,545|634|7,179|\n|Retail Financial Services|14,776|12|14,788|8,918|25|8,943|\n|Card Services|9,672|\u2014|9,672|7,692|\u2014|7,692|\n|Corporate/Private Equity|9|\u2014|9|9|\u2014|9|\n| Total Consumer|24,457|12|24,469|16,619|25|16,644|\n| Total|$31,602|$939|$32,541|$23,164|$659|$23,823|\n", + "Provision for credit losses The managed provision for credit losses was $38.5 billion for the year ended December 31, 2009, up by $13.9 billion from the prior year.", + "The prior-year included a $1.5 billion charge to conform Washington Mutual\u2019s allowance for loan losses, which affected both the consumer and wholesale portfolios.", + "For the purpose of the following analysis, this charge is excluded.", + "The consumer-managed provision for credit losses was $34.5 billion for the year ended December 31, 2009, compared with $20.4 billion in the prior year, reflecting an increase in the allowance for credit losses in the home lending and credit card loan portfolios.", + "Included in the 2009 addition to the allowance for loan losses was a $1.6 billion increase related to estimated deteriora\u0002tion in the Washington Mutual purchased credit-impaired portfolio.", + "The wholesale provision for credit losses was $4.0 billion for the year ended Decem\u0002ber 31, 2009, compared with $2.7 billion in the prior year, reflecting continued weakness in the credit environment.", + "|Year ended December 31,|Provision for credit losses|\n|(in millions)|Loan losses|Lending-related commitments|Total|\n||2009|2008|2007|2009|2008|2007|2009|2008|2007|\n|Investment Bank|$2,154|$2,216|$376|$125|$-201|$278|$2,279|$2,015|$654|\n|Commercial Banking|1,314|505|230|140|-41|49|1,454|464|279|\n|Treasury & Securities Services|34|52|11|21|30|8|55|82|19|\n|Asset Management|183|87|-19|5|-2|1|188|85|-18|\n|Corporate/Private Equity(a)(b)|-1|676|\u2014|-1|5|\u2014|-2|681|\u2014|\n| Total Wholesale|3,684|3,536|598|290|-209|336|3,974|3,327|934|\n|Retail Financial Services|15,950|9,906|2,620|-10|-1|-10|15,940|9,905|2,610|\n|CardServices \u2013 reported|12,019|6,456|3,331|\u2014|\u2014|\u2014|12,019|6,456|3,331|\n|Corporate/Private Equity(a)(c)(d)|82|1,339|-11|\u2014|-48|\u2014|82|1,291|-11|\n| Total Consumer|28,051|17,701|5,940|-10|-49|-10|28,041|17,652|5,930|\n| Total provision for creditlosses \u2013 reported|31,735|21,237|6,538|280|-258|326|32,015|20,979|6,864|\n|Credit card\u2013 securitized|6,443|3,612|2,380|\u2014|\u2014|\u2014|6,443|3,612|2,380|\n| Total provision for creditlosses \u2013 managed|$38,178|$24,849|$8,918|$280|$-258|$326|$38,458|$24,591|$9,244|\n", + "(a) Includes accounting conformity provisions related to the Washington Mutual transaction in 2008.", + "(b) Includes provision expense related to loans acquired in the Bear Stearns merger in the second quarter of 2008.", + "(c) Includes amounts related to held-for-investment prime mortgages transferred from AM to the Corporate/Private Equity segment.", + "(d) In November 2008, the Firm transferred $5.8 billion of higher quality credit card loans from the legacy Chase portfolio to a securitization trust previously established by Washington Mutual (\u2018\u2018the Trust\u2019\u2019).", + "As a result of converting higher credit quality Chase-originated on-book receivables to the Trust\u2019s seller\u2019s interest which has a higher overall loss rate reflective of the total assets within the Trust, approximately $400 million of incremental provision expense was recorded during the fourth quarter.", + "This incremental provision expense was recorded in the Corporate segment as the action related to the acquisition of Washington Mutual\u2019s banking operations.", + "For further discussion of credit card securitizations, see Note 15 on pages 206---213 of this Annual Report." + ], + "question_id": "simplong-test-194", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of Allowance greater than 270 in 2018? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 1B.", + "UNRESOLVED STAFF COMMENTS None.", + "Item 2.", + "PROPERTIES The table below provides a summary of our containerboard mills, the principal products produced and each mill\u2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines\u2019 production capabilities, as reported to the AF&PA:", + "|Location|Function Kraft linerboard mill Kraft linerboard mill Semi-chemical medium mill Semi-chemical medium mill|Capacity (tons) 1,043,000 556,000 538,000 438,000|\n|Counce, TN|Valdosta, GA|Tomahawk, WI|\n|Filer City, MI|\n|Total||2,575,000|\n", + "We currently own our four containerboard mills and 44 of our corrugated manufacturing operations (37 corrugated plants and seven sheet plants).", + "We also own one warehouse and miscellaneous other property, which includes sales offices and woodlands management offices.", + "These sales offices and woodlands management offices generally have one to four employees and serve as administrative offices.", + "PCA leases the space for four corrugated plants, 23 sheet plants, six regional design centers, and numerous other distribution centers, warehouses and facilities.", + "The equipment in these leased facilities is, in virtually all cases, owned by PCA, except for forklifts and other rolling stock which are generally leased.", + "We lease the cutting rights to approximately 88,000 acres of timberland located near our Valdosta mill (77,000 acres) and our Counce mill (11,000 acres).", + "On average, these cutting rights agreements have terms with approximately 12 years remaining.", + "Our corporate headquarters is located in Lake Forest, Illinois.", + "The headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions.", + "Item 3.", + "LEGAL PROCEEDINGS During September and October 2010, PCA and eight other U. S. and Canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the United States District Court for the Northern District of Illinois, alleging violations of the Sherman Act.", + "The lawsuits have been consolidated in a single complaint under the caption Kleen Products LLC v Packaging Corp. of America et al.", + "The consolidated complaint alleges that the defendants conspired to limit the supply of containerboard, and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from August 2005 to the time of filing of the complaints.", + "The complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period.", + "The complaint seeks treble damages and costs, including attorney\u2019s fees.", + "The defendants\u2019 motions to dismiss the complaint were denied by the court in April 2011.", + "PCA believes the allegations are without merit and will defend this lawsuit vigorously.", + "However, as the lawsuit is in the early stages of discovery, PCA is unable to predict the ultimate outcome or estimate a range of reasonably possible losses.", + "PCA is a party to various other legal actions arising in the ordinary course of our business.", + "These legal actions cover a broad variety of claims spanning our entire business.", + "As of the date of this filing, we believe it is not reasonably possible that the resolution of these legal actions will, individually or in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows.", + "NOTE 18 EQUITY COMMON STOCK On February 8, 2010, we raised $3.0 billion in new common equity through the issuance of 55.6 million shares of common stock in an underwritten offering at $54 per share.", + "The underwriters exercised their option to purchase an additional 8.3 million shares of common stock at the offering price of $54 per share, totaling approximately $450 million, to cover over-allotments.", + "We completed this issuance on March 11, 2010.", + "PREFERRED STOCK Information related to preferred stock is as follows: Preferred Stock \u2013 Issued and Outstanding", + "||| Preferred Shares|\n|December 31Shares in thousands|Liquidation value per share| 2011|2010|\n|Authorized||||\n|$1 par value|| 16,588|16,588|\n|Issued and outstanding||||\n|Series B|$40| 1|1|\n|Series K|10,000| 50|50|\n|Series L|100,000| 2|2|\n|Series O|100,000| 10||\n|Total issued and outstanding|| 63|53|\n", + "Our Series B preferred stock is cumulative and is not redeemable at our option.", + "Annual dividends on Series B preferred stock total $1.80 per share.", + "Holders of Series B preferred stock are entitled to 8 votes per share, which is equal to the number of full shares of common stock into which the Series B Preferred Stock is convertible.", + "Our Series K preferred stock was issued in May 2008 in connection with our issuance of $500 million of Depositary Shares, each representing a fractional interest in a share of the Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series K. Dividends are payable if and when declared each May 21 and November 21 until May 21, 2013.", + "After that date, dividends will be payable each 21st of August, November, February and May.", + "Dividends will be paid at a rate of 8.25% prior to May 21, 2013 and at a rate of three-month LIBOR plus 422 basis points beginning May 21, 2013.", + "The Series K preferred stock is redeemable at our option on or after May 21, 2013.", + "Our 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L was issued in connection with the National City transaction in exchange for National City\u2019s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F. Dividends on the Series L preferred stock are payable if and when declared each 1st of February, May, August and November.", + "Dividends will be paid at a rate of 9.875% prior to February 1, 2013 and at a rate of three-month LIBOR plus 633 basis points beginning February 1, 2013.", + "The Series L is redeemable at PNC\u2019s option, subject to Federal Reserve approval, if then applicable, on or after February 1, 2013 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "Our Series O preferred stock was issued on July 27, 2011, when we issued one million depositary shares, each representing a 1/100th interest in a share of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series O for gross proceeds before commissions and expenses of $1 billion.", + "Dividends are payable when, as, and if declared by our board of directors or an authorized committee of our board, semi-annually on February 1 and August 1 of each year until August 1, 2021 at a rate of 6.75%.", + "After that date, dividends will be payable on February 1, May 1, August 1 and November 1 of each year beginning on November 1, 2021 at a rate of three-month LIBOR plus 3.678% per annum.", + "The Series O preferred stock is redeemable at our option on or after August 1, 2021 and at our option within 90 days of a regulatory capital treatment event as defined in the designations.", + "We have authorized but unissued Series H, I, J and M preferred stock.", + "As described in Note 13 Capital Securities of Subsidiary Trusts and Perpetual Trust Securities, under the terms of two of the hybrid capital vehicles we issued that currently qualify as capital for regulatory purposes (the Trust II Securities and the Trust III Securities), these Trust Securities are automatically exchangeable into shares of PNC preferred stock (Series I and Series J, respectively) in each case under certain conditions relating to the capitalization or the financial condition of PNC Bank, N. A. and upon the direction of the Office of the Comptroller of the Currency.", + "The Series preferred stock of PNC REIT Corp. is also automatically exchangeable under similar conditions into shares of PNC Series H preferred stock.", + "As a part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M, which mirrors in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. PNC has designated 5,751 preferred shares, liquidation value $100,000 per share, for this series.", + "No shares have yet been issued; however, National City issued stock purchase contracts for 5,001 shares of its Series E Preferred Stock (now replaced by the PNC Series M as part of the National City transaction) to the National City Preferred Capital Trust I in connection with the issuance by that Trust of $500 million of 12.000% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the Normal APEX Securities) in January 2008 by the Trust.", + "It is expected that the Trust will purchase 5,001 of the Series M preferred shares pursuant to these stock purchase contracts on December 10, 2012 or on an earlier date and possibly as late as December 10, 2013.", + "The Trust has", + "The weighted-average assumptions used (as of the end of each year) to determine year end obligations for pension and postretirement benefits were as follows.", + "Table 74: Other Pension Assumptions", + "|Year ended December 31|2018|2017|\n|Discount rate|||\n|Qualified pension|4.30%|3.60%|\n|Nonqualified pension|4.15%|3.45%|\n|Postretirement benefits|4.20%|3.55%|\n|Rate of compensation increase (average)|3.50%|3.50%|\n|Assumed health care cost trend rate|||\n|Initial trend|6.50%|6.75%|\n|Ultimate trend|5.00%|5.00%|\n|Year ultimate trend reached|2025|2025|\n", + "The discount rates are determined independently for each plan by comparing the expected future benefits that will be paid under each plan with yields available on high quality corporate bonds of similar duration.", + "For this analysis, 10% of bonds with the highest yields and 40% with the lowest yields were removed from the bond universe.", + "The expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes.", + "For purposes of setting and reviewing this assumption, \u201clong- term\u201d refers to the period over which the plan\u2019s projected benefit obligations will be disbursed.", + "We review this assumption at each measurement date and adjust it if warranted.", + "Our selection process references certain historical data and the current environment, but primarily utilizes qualitative judgment regarding future return expectations.", + "We also examine the assumption used by other companies with similar pension investment strategies.", + "Taking into account all of these factors, the expected long-term return on plan assets for determining net periodic pension cost for 2018 was 6.00%.", + "We are reducing our expected long-term return on assets to 5.75% for determining pension cost for 2019.", + "This decision was made after considering the views of both internal and external capital market advisors, particularly with regard to the effects of the recent economic environment on long-term prospective equity and fixed income returns.", + "PNC\u2019s net periodic benefit cost recognized for the plans is sensitive to the discount rate and expected long-term return on plan assets.", + "With all other assumptions held constant, a .5% decline in the discount rate would have resulted in an immaterial increase in net periodic benefit cost for the qualified pension plan in 2018, and to be recognized in 2019.", + "For the nonqualified pension plan and postretirement benefits, a .5% decline in the discount rate would also have resulted in an immaterial increase in net periodic benefit cost.", + "The health care cost trend rate assumptions shown in Tables 73 and 74 relate only to the postretirement benefit plans.", + "The effect of a one-percentage-point increase or decrease in assumed health care cost trend rates would be insignificant.", + "Defined Contribution Plans The PNC Incentive Savings Plan (ISP) is a qualified defined contribution plan that covers all of our eligible employees.", + "Effective January 1, 2015, newly-hired full time employees and part-time employees who became eligible to participate in the ISP after that date are automatically enrolled in the ISP with a deferral rate equal to 4% of eligible compensation in the absence of an affirmative election otherwise.", + "Employee benefits expense related to the ISP was $139 million in 2018, $125 million in 2017 and $122 million in 2016, representing cash contributed to the ISP by PNC.", + "The ISP is a 401(k) Plan and includes an employee stock ownership (ESOP) feature.", + "Employee contributions are invested in a number of investment options, including pre mixed portfolios and individual core funds, available under the ISP at the direction of the employee.", + "NOTE 12 STOCK BASED COMPENSATION PLANS We have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted shares, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors.", + "Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash.", + "We typically grant a substantial portion of our stock-based compensation awards during the first quarter of each year.", + "SUMMARY OF LOAN LOSS EXPERIENCE", + "|Year ended December 31 \u2013 dollars in millions|2018|2017|2016|2015|2014|\n|Allowance for loan and lease losses \u2013 January 1|$2,611|$2,589|$2,727|$3,331|$3,609|\n|Gross charge-offs||||||\n|Commercial|-108|-186|-332|-206|-276|\n|Commercial real estate|-8|-24|-26|-44|-70|\n|Equipment lease financing|-8|-11|-5|-5|-14|\n|Home equity|-110|-123|-143|-181|-275|\n|Residential real estate|-6|-9|-14|-24|-40|\n|Credit card|-217|-182|-161|-160|-163|\n|Other consumer (a)|-307|-251|-205|-185|-183|\n|Total gross charge-offs|-764|-786|-886|-805|-1,021|\n|Recoveries||||||\n|Commercial|67|81|117|170|207|\n|Commercial real estate|24|28|51|66|84|\n|Equipment lease financing|8|7|10|4|14|\n|Home equity|98|91|84|93|78|\n|Residential real estate|21|18|9|13|26|\n|Credit card|24|21|19|21|21|\n|Other consumer (a)|102|83|53|52|60|\n|Total recoveries|344|329|343|419|490|\n|Net (charge-offs)|-420|-457|-543|-386|-531|\n|Provision for credit losses|408|441|433|255|273|\n|Net decrease / (increase) in allowance for unfunded loan commitments andletters of credit|12|4|-40|-2|-17|\n|Other (b)|18|34|12|-471|-3|\n|Allowance for loan and lease losses \u2013 December 31|$2,629|$2,611|$2,589|$2,727|$3,331|\n|Allowance as a percentage of December 31:||||||\n|Loans (b)|1.16%|1.18%|1.23%|1.32%|1.63%|\n|Nonperforming loans|155%|140%|121%|128%|133%|\n|As a percentage of average loans:||||||\n|Net charge-offs|.19%|.21%|.26%|.19%|.27%|\n|Provision for credit losses|.18%|.20%|.21%|.12%|.14%|\n|Allowance for loan and lease losses (b)|1.18%|1.20%|1.24%|1.33%|1.67%|\n|Allowance as a multiple of net charge-offs|6.26x|5.71x|4.77x|7.06x|6.27x|\n", + "(a) Includes automobile, education and other consumer.", + "(b) Includes $468 million in write-offs of purchased impaired loans in 2015 due to the change in derecognition policy effective December 31, 2016 for certain consumer purchased impaired loans.", + "See Note 1 Accounting Policies in our 2015 Form 10-K for additional information.", + "The following table presents the assignment of the allowance for loan and lease losses and the categories of loans as a percentage of total loans.", + "Changes in the allocation over time reflect the changes in loan portfolio composition, risk profile and refinements to reserve methodologies.", + "ALLOCATION OF ALLOWANCE FOR LOAN AND LEASE LOSSES", + "||2018|2017|2016|2015|2014|\n|December 31 dollars in millions|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|\n|Commercial|$1,350|51.6%|$1,302|50.1%|$1,179|48.1%|$1,286|47.7%|$1,209|47.6%|\n|Commercial real estate|271|12.4|244|13.1|320|13.8|281|13.3|318|11.4|\n|Equipment lease financing|42|3.2|36|3.6|35|3.6|38|3.6|44|3.7|\n|Home equity|204|11.6|284|12.9|357|14.2|484|15.5|872|16.9|\n|Residential real estate|297|8.3|300|7.8|332|7.4|307|7.0|561|7.0|\n|Credit card|239|2.8|220|2.6|181|2.5|167|2.4|173|2.3|\n|Other consumer (a)|226|10.1|225|9.9|185|10.4|164|10.5|154|11.1|\n|Total|$2,629|100.0%|$2,611|100.0%|$2,589|100.0%|$2,727|100.0%|$3,331|100.0%|\n", + "(a) Includes automobile, education and other consumer." + ], + "question_id": "simplong-test-195", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "considering the year 2006 , what is the percentual fluctuation of the return provided by s&p 500 and the one provided by old peer group?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PERFORMANCE GRAPH The following graph compares the cumulative five-year total return provided shareholders on our Class A common stock relative to the cumulative total returns of the S&P 500 index and two customized peer groups.", + "The old peer group includes IntercontinentalExchange, Inc. , NYSE Euronext and The Nasdaq OMX Group Inc.", + "The new peer group is the same as the old peer group with the addition of CBOE Holdings, Inc. which completed its initial public offering in June 2010.", + "An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our Class A common stock, in the peer groups and the S&P 500 index on December 31, 2005 and its relative performance is tracked through December 31, 2010.", + "COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among CME Group Inc. , the S&P 500 Index, an Old Peer Group and a New Peer Group", + "||2006|2007|2008|2009|2010|\n|CME Group Inc.|$139.48|$188.81|$58.66|$96.37|$93.73|\n|S&P 500|115.80|122.16|76.96|97.33|111.99|\n|Old Peer Group|155.58|190.78|72.25|76.11|87.61|\n|New Peer Group|155.58|190.78|72.25|76.11|87.61|\n", + "*$100 invested on 12/31/05 in stock or index, including reinvestment of dividends.", + "Fiscal year ending December 31.", + "Copyright?2011 S&P, a division of The McGraw-Hill Companies Inc. All rights reserved.", + "New Peer Group The stock price performance included in this graph is not necessarily indicative of future stock price performance", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) Company has the option to satisfy the repurchases with any combination of cash and/or shares of the Company\u2019s common stock.", + "The Company will have the option to redeem the Notes, in cash, at any time after the fifth anniversary for the initial issue price plus accrued yield to redemption.", + "The Company will pay contingent interest on the Notes during specified six-month periods beginning on April 4, 2006 if the market price of the Notes exceeds specified levels.", + "At November 30, 2003, the carrying value of outstanding Notes, net of unamortized original issue discount, was $261.0 million.", + "At November 30, 2003, the Company had mortgage notes on land and other debt bearing interest at fixed interest rates ranging from 2.9% to 25.0% with an average rate of 8.8%.", + "The notes are due through 2009 and are collateralized by land.", + "At November 30, 2003, the carrying value of the mortgage notes on land and other debt was $73.0 million.", + "The minimum aggregate principal maturities of senior notes and other debts payable during the five years subsequent to November 30, 2003 are as follows: 2004\u2014$21.5 million; 2005\u2014$45.7 million; 2006\u2014$18.4 million; 2007\u2014$4.0 million and 2008\u2014$4.0 million.", + "The remaining principal obligations are due subsequent to November 30, 2008.", + "The Company\u2019s debt arrangements contain certain financial covenants with which the Company was in compliance at November 30, 2003.8.", + "Financial Services The assets and liabilities related to the Company\u2019s financial services operations were as follows:", + "|| November 30, |\n|| 2003 | 2002 |\n|| (In thousands)|\n| Assets:|||\n|Cash and receivables, net|$301,530|239,893|\n|Mortgage loans held for sale, net|542,507|708,304|\n|Mortgage loans, net|30,451|30,341|\n|Title plants|18,215|15,586|\n|Investment securities|28,022|22,379|\n|Goodwill, net|43,503|34,002|\n|Other|46,670|35,422|\n|Limited-purpose finance subsidiaries|5,812|9,202|\n||$1,016,710|1,095,129|\n| Liabilities:|||\n|Notes and other debts payable|$734,657|853,416|\n|Other|132,797|108,770|\n|Limited-purpose finance subsidiaries|5,812|9,202|\n||$873,266|971,388|\n", + "At November 30, 2003, the Financial Services Division had warehouse lines of credit totaling $750 million, which included a $145 million temporary increase that expired in December 2003, to fund its mortgage loan activities.", + "Borrowings under the facilities were $714.4 million and $489.7 million at November 30, 2003 and 2002, respectively, and were collateralized by mortgage loans and receivables on loans sold not yet funded with outstanding principal balances of $742.2 million and $523.8 million, respectively.", + "There are several interest rate pricing options which fluctuate with market rates.", + "The effective interest rate on the facilities at November 30, 2003 and 2002 was 1.7% and 2.3%, respectively.", + "The warehouse lines of credit mature in May 2004 ($250 million) and in October 2005 ($500 million), at which time the Division expects both facilities to be renewed.", + "Additionally, the line of credit maturing in May 2004 includes an incremental $100 million commitment available at each fiscal quarter-end.", + "At November 30, 2003 and 2002, the Division had advances under a conduit funding agreement with a major financial institution amounting to $0.6 million and $343.7 million, respectively.", + "Borrowings under this agreement are collateralized by mortgage loans and had an", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) The following table summarizes information about stock options outstanding at November 30, 2003 (adjusted for the January 2004 two-for-one stock split):", + "|| Options Outstanding | Options Exercisable |\n| Range of Per Share Exercise Prices| Number Outstanding at November 30, 2003 | Weighted Average Remaining Contractual Life | Weighted Average Per Share Exercise Price | Number Outstanding at November 30, 2003 | Weighted Average Per Share Exercise Price |\n|$ 4.02\u2014$ 5.19|66,176|2.7 years|$4.80|31,126|$4.88|\n|$ 7.02\u2014$ 8.38|1,022,714|4.3 years|$7.58|290,114|$7.67|\n|$ 9.25\u2014$12.88|379,944|4.0 years|$9.88|64,244|$9.92|\n|$14.93\u2014$18.88|1,179,736|7.2 years|$16.70|275,448|$16.75|\n|$21.10\u2014$26.32|3,843,448|5.4 years|$24.91|84,404|$24.06|\n|$27.84\u2014$43.16|168,950|4.6 years|$35.73|\u2014|$\u2014|\n", + "Employee Stock Ownership/401(k) Plan Prior to 1998, the Employee Stock Ownership/401(k) Plan (the \u201cPlan\u201d) provided shares of stock to employees who had completed one year of continuous service with the Company.", + "During 1998, the Plan was amended to exclude any new shares from being provided to employees.", + "All prior year contributions to employees actively employed on or after October 1, 1998 vested at a rate of 20% per year over a five year period.", + "All active participants in the Plan whose employment terminated prior to October 1, 1998 vested based upon the Plan that was active prior to their termination of employment.", + "Under the 401(k) portion of the Plan, contributions made by employees can be invested in a variety of mutual funds or proprietary funds provided by the Plan trustee.", + "The Company may also make contributions for the benefit of employees.", + "The Company records as compensation expense an amount which approximates the vesting of the contributions to the Employee Stock Ownership portion of the Plan, as well as the Company\u2019s contribution to the 401(k) portion of the Plan.", + "This amount was $9.1 million in 2003, $7.0 million in 2002 and $6.5 million in 2001.13.", + "Deferred Compensation Plan In June 2002, the Company adopted the Lennar Corporation Nonqualified Deferred Compensation Plan (the \u201cDeferred Compensation Plan\u201d) that allows a selected group of members of management to defer a portion of their salaries and bonuses and up to 100% of their restricted stock.", + "All participant contributions to the Deferred Compensation Plan are vested.", + "Salaries and bonuses that are deferred under the Deferred Compensation Plan are credited with earnings or losses based on investment decisions made by the participants.", + "The cash contributions to the Deferred Compensation Plan are invested by the Company in various investment securities that are classified as trading.", + "Restricted stock is deferred under the Deferred Compensation Plan by surrendering the restricted stock in exchange for the right to receive in the future a number of shares equal to the number of restricted shares that are surrendered.", + "The surrender is reflected as a reduction in stockholders\u2019 equity equal to the value of the restricted stock when it was issued, with an offsetting increase in stockholders\u2019 equity to reflect a deferral of the compensation expense related to the surrendered restricted stock.", + "Changes in the value of the shares that will be issued in the future are not reflected in the financial statements.", + "As of November 30, 2003, approximately 534,000 Class A shares and 53,400 Class B shares of restricted stock (adjusted for the April 2003 10% Class B stock distribution and January 2004 two-for-one stock split) had been surrendered in exchange for rights under the Deferred Compensation Plan, resulting in a reduction in stockholders\u2019 equity of $4.9 million fully offset by an increase in stockholders\u2019 equity to reflect the deferral of compensation in that amount.", + "Shares that the Company is obligated to issue in the future under the Deferred Compensation Plan are treated as outstanding shares in both the Company\u2019s basic and diluted earnings per share calculations for the years ended November 30, 2003 and 2002.", + "LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) 14.", + "Financial Instruments The following table presents the carrying amounts and estimated fair values of financial instruments held by the Company at November 30, 2003 and 2002, using available market information and what the Company believes to be appropriate valuation methodologies.", + "Considerable judgment is required in interpreting market data to develop the estimates of fair value.", + "Accordingly, the estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.", + "The use of different market assumptions and/or estimation methodologies might have a material effect on the estimated fair value amounts.", + "The table excludes cash, receivables and accounts payable, which had fair values approximating their carrying values.", + "||November 30,|\n||2003|2002|\n||Carrying Amount|Fair Value|Carrying Amount|Fair Value|\n||(In thousands)|\n| ASSETS|||||\n| Homebuilding:|||||\n|Investments\u2014trading|$6,859|6,859|\u2014|\u2014|\n| Financial services:|||||\n|Mortgage loans held for sale, net|$542,507|542,507|708,304|708,304|\n|Mortgage loans, net|30,451|29,355|30,341|29,666|\n|Investments held-to-maturity|28,022|28,021|22,379|22,412|\n|Limited-purpose finance subsidiaries\u2014collateral for bonds and notes payable|5,812|6,129|9,202|9,703|\n| LIABILITIES|||||\n| Homebuilding:|||||\n|Senior notes and other debts payable|$1,552,217|1,878,830|1,585,309|1,779,705|\n| Financial services:|||||\n|Notes and other debts payable|$734,657|734,657|853,416|853,416|\n|Limited-purpose finance subsidiaries\u2014bonds and notes payable|5,812|6,129|9,202|9,703|\n| OTHER FINANCIAL INSTRUMENTS|||||\n| Homebuilding:|||||\n|Interest rate swaps|$-33,696|-33,696|-39,256|-39,256|\n| Financial services assets (liabilities):|||||\n|Commitments to originate loans|$-229|-229|-717|-717|\n|Forward commitments to sell loans and option contracts|-1,120|-1,120|1,430|1,430|\n", + "The following methods and assumptions are used by the Company in estimating fair values: Homebuilding\u2014Investments classified as trading (included in other assets): The fair value is based on quoted market prices.", + "Senior notes and other debts payable: The fair value of fixed rate borrowings is based on quoted market prices.", + "Variable rate borrowings are tied to market indices and therefore approximate fair value.", + "Interest rate swaps: The fair value is based on dealer quotations and generally represents an estimate of the amount the Company would pay or receive to terminate the agreement at the reporting date.", + "Financial services\u2014The fair values are based on quoted market prices, if available.", + "The fair values for instruments which do not have quoted market prices are estimated by the Company on the basis of discounted cash flows or other financial information.", + "The Company utilizes interest rate swap agreements to manage interest costs and hedge against risks associated with changing interest rates.", + "Counterparties to these agreements are major financial institutions.", + "Credit loss from counterparty non-performance is not anticipated.", + "A majority of the Company\u2019s available variable rate borrowings are based on the London Interbank Offered Rate (\u201cLIBOR\u201d) index.", + "At November 30, 2003, the" + ], + "question_id": "simplong-test-196", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the total cash inflow from the stock purchases of employees in 2007 , ( in millions ) ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "an increase of $0.10 in the delivery area surcharge on both residential and commercial services to certain ZIP codes.", + "These rate changes are customary, and are consistent with previous years\u2019 rate increases.", + "Additionally, we modified the fuel surcharge on domestic and U. S. -origin international air services by reducing by 2% the index used to determine the fuel surcharge.", + "The UPS Ground fuel surcharge continues to fluctuate based on the U. S. Energy Department\u2019s On-Highway Diesel Fuel Price.", + "Rate changes for shipments originating outside the U. S. were made throughout the past year and varied by geographic market.", + "In January 2008, UPS Freight announced a general rate increase averaging 5.4 percent covering non-contractual shipments in the United States and Canada.", + "The increase goes into effect on February 4, 2008, and applies to minimum charge, LTL and TL rates.", + "Investing Activities Net cash used in investing activities was $2.199 billion, $2.340 billion, and $975 million in 2007, 2006, and 2005, respectively.", + "The decrease in cash used in 2007 compared with 2006 was primarily due to lower capital expenditures and increased net sales of marketable securities and short-term investments.", + "Net sales of marketable securities and short-term investments were $621 million, $482 million, and $2.752 billion in 2007, 2006, and 2005, respectively, and were primarily used to fund our pension and postretirement medical benefit plans, as well as complete business acquisitions.", + "In 2005, we spent $1.488 billion on business acquisitions, primarily Overnite Corp. , Lynx Express Ltd. in the United Kingdom, Messenger Service Stolica S. A. in Poland, and the express operations of Sinotrans Air Transportation Development Co. Ltd. in China (See Note 7 to the consolidated financial statements).", + "We had a net cash use of $39 million in 2007, compared with cash generation of $68 and $95 million in 2006 and 2005, respectively, due to originations, sales, and customer paydowns of finance receivables, primarily in our commercial lending, asset-based lending, and leasing portfolios.", + "In the second quarter of 2006, we terminated several energy derivatives and received $229 million in cash, which is reported in other investing activities in the statement of cash flows.", + "These derivatives were designated as hedges of forecasted cash outflows for purchases of fuel products.", + "As these derivatives maintained their effectiveness and qualified for hedge accounting, we recognized the gains associated with these hedges as a reduction of fuel expense over the original term of the hedges through 2007.", + "Capital expenditures represent a primary use of cash in investing activities, as follows (in millions):", + "|| 2007| 2006| 2005|\n|Buildings and facilities|$853|$720|$495|\n|Aircraft and parts|1,137|1,150|874|\n|Vehicles|492|831|456|\n|Information technology|338|384|362|\n||$2,820|$3,085|$2,187|\n", + "As described in the \u201cCommitments\u201d section below, we have commitments for the purchase of aircraft, vehicles, equipment and other fixed assets to provide for the replacement of existing capacity and anticipated future growth.", + "We fund our capital expenditures with our cash from operations.", + "Financing Activities Net cash provided by (used in) financing activities was $2.297, ($3.851), and ($4.175) billion in 2007, 2006, and 2005, respectively.", + "As of December 31, 2007, we increased our commercial paper borrowings to $7.366 billion, an increase of $6.575 billion over December 31, 2006.", + "This issuance of commercial paper was used to fund the withdrawal payment to the Central States Pension Fund upon ratification of our labor contract with the Teamsters, as previously discussed.", + "The commercial paper balance was reduced subsequent to December 31, 2007 as a result of an issuance of long-term debt (discussed further in the \u201cSources of Credit\u201d section) and the receipt of an income tax refund.", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) UPS class B common stock on the first or the last day of each quarterly period.", + "Employees purchased 1.8, 1.9, and 2.0 million shares at average prices of $64.20, $66.64, and $64.54 per share during 2007, 2006, and 2005, respectively.", + "Compensation cost is measured for the fair value of employees\u2019 purchase rights under our discounted employee stock purchase plan using the Black-Scholes option pricing model.", + "The weighted average assumptions used and the calculated weighted average fair value of employees\u2019 purchase rights granted, are as follows:", + "||2007|2006|2005|\n|Expected dividend yield|2.13%|1.79%|1.62%|\n|Risk-free interest rate|4.60%|4.59%|2.84%|\n|Expected life in years|0.25|0.25|0.25|\n|Expected volatility|16.26%|15.92%|15.46%|\n|Weighted average fair value of purchase rights*|$9.80|$10.30|$9.46|\n", + "* Includes the 10% discount from the market price.", + "Expected volatilities are based on the historical price volatility on our publicly-traded class B shares.", + "The expected dividend yield is based on the recent historical dividend yields for our stock, taking into account changes in dividend policy.", + "The risk-free interest rate is based on the term structure of interest rates on U. S. Treasury securities at the time of the option grant.", + "The expected life represents the three month option period applicable to the purchase rights.", + "NOTE 12.", + "SEGMENT AND GEOGRAPHIC INFORMATION We report our operations in three segments: U. S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations.", + "Package operations represent our most significant business and are broken down into regional operations around the world.", + "Regional operations managers are responsible for both domestic and export operations within their geographic area.", + "U. S. Domestic Package Domestic Package operations include the time-definite delivery of letters, documents, and packages throughout the United States.", + "International Package International Package operations include delivery to more than 200 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or distribution outside the United States.", + "Our International Package reporting segment includes the operations of our Europe, Asia, and Americas operating segments.", + "Supply Chain & Freight Supply Chain & Freight includes our forwarding and logistics operations, UPS Freight, and other aggregated business units.", + "Our forwarding and logistics business provides services in more than 175 countries and territories worldwide, and includes supply chain design and management, freight distribution, customs brokerage, mail and consulting services.", + "UPS Freight offers a variety of LTL and TL services to customers in North America.", + "Other aggregated business units within this segment include Mail Boxes, Etc.", + "(the franchisor of Mail Boxes, Etc.", + "and The UPS Store) and UPS Capital.", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 83 Certain plans have been aggregated in the \u201cAll Other Multiemployer Pension Plans\u201d line in the following table, as the contributions to each of these individual plans are not material.", + "||EIN / PensionPlan|PensionProtection ActZone Status|FIP/RP StatusPending/|(in millions)UPS Contributions and Accruals|Surcharge|\n|Pension Fund|Number|2013|2012|Implemented|2013|2012|2011|Imposed|\n|Alaska Teamster-Employer Pension Plan|92-6003463-024|Red|Red|Yes/Implemented|$5|$4|$4|No|\n|Automotive Industries Pension Plan|94-1133245-001|Red|Red|Yes/Implemented|4|4|4|No|\n|Central Pennsylvania Teamsters Defined Benefit Plan|23-6262789-001|Green|Yellow|Yes/Implemented|30|29|27|No|\n|Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund|55-6021850-001|Green|Green|No|9|9|8|No|\n|Hagerstown Motor Carriers and Teamsters Pension Fund|52-6045424-001|Red|Red|Yes/Implemented|5|5|5|No|\n|I.A.M. National Pension Fund / National Pension Plan|51-6031295-002|Green|Green|No|27|24|25|No|\n|International Brotherhood of Teamsters Union Local No. 710 Pension Fund|36-2377656-001|Green|Green|No|88|75|74|No|\n|Local 705, International Brotherhood of Teamsters Pension Plan|36-6492502-001|Red|Red|Yes/Implemented|68|46|58|No|\n|Local 804 I.B.T. & Local 447 I.A.M.\u2014UPS Multiemployer Retirement Plan|51-6117726-001|Red|Red|Yes/Implemented|88|87|84|No|\n|Milwaukee Drivers Pension Trust Fund|39-6045229-001|Green|Green|No|29|26|26|No|\n|New England Teamsters & Trucking Industry Pension Fund|04-6372430-001|Red|Red|Yes/Implemented|102|124|124|No|\n|New York State Teamsters Conference Pension and Retirement Fund|16-6063585-074|Red|Red|Yes/Implemented|72|65|57|No|\n|Teamster Pension Fund of Philadelphia and Vicinity|23-1511735-001|Yellow|Yellow|Yes/Implemented|46|44|41|No|\n|Teamsters Joint Council No. 83 of Virginia Pension Fund|54-6097996-001|Yellow|Yellow|Yes/Implemented|49|44|41|No|\n|Teamsters Local 639\u2014Employers Pension Trust|53-0237142-001|Green|Green|No|41|36|33|No|\n|Teamsters Negotiated Pension Plan|43-6196083-001|Yellow|Red|Yes/Implemented|26|24|22|No|\n|Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan|52-6043608-001|Yellow|Yellow|Yes/Implemented|14|14|12|No|\n|United Parcel Service, Inc.\u2014Local 177, I.B.T. Multiemployer Retirement Plan|13-1426500-419|Red|Red|Yes/Implemented|68|62|57|No|\n|Western Conference of Teamsters Pension Plan|91-6145047-001|Green|Green|No|553|520|476|No|\n|Western Pennsylvania Teamsters and Employers Pension Fund|25-6029946-001|Red|Red|Yes/Implemented|23|24|21|No|\n|All Other Multiemployer Pension Plans|||||49|59|44||\n|||||Total Contributions|$1,396|$1,325|$1,243||\n", + "In 2012, we reached an agreement with the New England Teamsters and Trucking Industry Pension Fund (\"NETTI Fund\"), a multiemployer pension plan in which UPS is a participant, to restructure the pension liabilities for approximately 10,200 UPS employees represented by the Teamsters.", + "The agreement reflected a decision by the NETTI Fund's trustees to restructure the NETTI Fund through plan amendments to utilize a \"two pool approach\", which effectively subdivided the plan assets and liabilities between two groups of beneficiaries.", + "As part of this agreement, UPS agreed to withdraw from the original pool of the NETTI Fund, of which it had historically been a participant, and reenter the NETTI Fund's newly-established pool as a new employer.", + "Upon ratification of the agreement by the Teamsters in September 2012, we withdrew from the original pool of the NETTI Fund and incurred an undiscounted withdrawal liability of $2.162 billion to be paid in equal monthly installments over 50 years.", + "The undiscounted withdrawal liability was calculated by independent actuaries employed by the NETTI Fund, in accordance with the governing plan documents and the applicable requirements of the Employee Retirement Income Security Act of 1974.", + "In 2012, we recorded a charge to expense to establish an $896 million withdrawal liability on our consolidated balance sheet, which represents the present value of the $2.162 billion future payment obligation discounted at a 4.25% interest rate.", + "This discount rate represents the estimated credit-adjusted market rate of interest at which we could obtain financing of a similar maturity and seniority.", + "As this agreement is not a contribution to the plan, the amounts reflected in the previous table do not include this $896 million non-cash transaction.", + "The $896 million charge to expense recorded in 2012 is included in \"compensation and benefits\" expense in the statements of consolidated income, while the corresponding withdrawal liability is included in \"other non-current liabilities\" on the consolidated balance sheet.", + "We impute interest on the withdrawal liability using the 4.25% discount rate, while the monthly payments made to the NETTI Fund reduce the remaining balance of the withdrawal liability.", + "AMGEN INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) sales (excluding amortization of intangible assets),\u201d \u201cResearch and development\u201d and \u201cSelling, general and ad\u0002ministrative\u201d expenses for the year ended December 31, 2007 are the reversal of previously accrued expenses for bonuses and stock-based compensation awards totaling $31 million, which were forfeited as a result of the em\u0002ployees\u2019 termination.", + "We also recorded asset impairment charges of $59 million and $408 million during the years ended De\u0002cember 31, 2008 and 2007, respectively.", + "The charges for both periods represent the write-off of the total cost of the related assets as they were abandoned with no alternative future uses or residual value.", + "The charges for 2008 included impairments primarily for certain manufacturing-related assets.", + "The charges in 2007 were primarily in\u0002curred in connection with our decisions to make changes to certain manufacturing and, to a lesser degree, certain R&D capital projects and to close certain production operations.", + "In particular, these decisions in 2007 included certain revisions to and the subsequent indefinite postponement of our planned Ireland manufacturing operations, certain revisions to our planned manufacturing expansion in Puerto Rico and the closure of a clinical manufactur\u0002ing facility in Thousand Oaks, California.", + "In addition, in connection with the rationalization of our worldwide network of manufacturing facilities in 2007, we decided to accelerate the closure of one of our ENBREL commercial bulk manufacturing operations.", + "The decision to accelerate the closure of this manufacturing operation was principally based on a thorough re\u0002view of the supply plans for bulk ENBREL inventory across its worldwide manufacturing network, including consideration of expected increases in manufacturing yields, and the determination that the related assets no lon\u0002ger had any alternative future uses in our operations.", + "Because the related estimated future cash flows for this manufacturing operation were sufficient to recover the respective book values, we were required to accelerate depreciation of the related assets rather than immediately impairing their carrying values.", + "The amount included in \u201cCost of sales (excluding amortization of intangible assets)\u201d in the table above, $147 million, represents the ex\u0002cess of the accelerated depreciation expense recognized during the year ended December 31, 2007 over the depreciation that would otherwise have been recorded, $6 million, if there were no plans to accelerate the closure of this manufacturing operation.", + "During the years ended December 31, 2008 and 2007, we also recorded cost recoveries of $1 million and $114 million, respectively, for certain restructuring charges, principally with respect to accelerated depreciation, in connection with our co-promotion agreement with Wyeth.", + "Such amounts are recorded as a reduction of the Wyeth profit share expense included in \u201cSelling, general and administrative\u201d expenses.", + "Also included in \u201cSelling, general and administrative\u201d expenses in 2008 are $12 million of loss accruals for leases principally related to cer\u0002tain facilities that will not be used in our operations and $9 million for implementation costs associated with certain restructuring initiatives.", + "In addition during the years ended December 31, 2008 and 2007, we accrued $49 million and $119 million, respectively, included in \u201cOther charges,\u201d primarily related to loss accruals for leases for certain facilities that will not be used in our operations.", + "For 2007, these charges primarily related to loss ac\u0002cruals for leases for certain R&D facilities.", + "In addition, in 2008, we recorded a $10 million loss on the disposal of certain less significant marketed products that is included in \u201cInterest and other income, net.", + "\u201d The following table summarizes the charges and spending relating to the restructuring plan (in millions):", + "||Separation costs|Other|Total|\n|Restructuring reserves as of January 1, 2007|$\u2014|$\u2014|$\u2014|\n|Expense|209|119|328|\n|Payments|-112|-17|-129|\n|Restructuring reserves as of December 31, 2007|97|102|199|\n|Expense|10|76|86|\n|Payments|-103|-16|-119|\n|Restructuring reserves as of December 31, 2008|$4|$162|$166|\n", + "Introduction This introduction contains certain information about Con Edison and its subsidiaries, including CECONY.", + "This introduction is not a summary and should be read together with, and is qualified in its entirety by reference to, the more detailed information appearing elsewhere or incorporated by reference in this report.", + "Con Edison\u2019s mission is to provide energy services to our customers safely, reliably, efficiently and in an environmentally sound manner; to provide a workplace that allows employees to realize their full potential; to provide a fair return to our investors; and to improve the quality of life in the communities we serve.", + "The company has ongoing programs designed to support its mission, including initiatives focused on safety, operational excellence, the customer experience and cost optimization.", + "Con Edison is a holding company that owns: ?", + "Consolidated Edison Company of New York, Inc. (CECONY), which delivers electricity, natural gas and steam to customers in New York City and Westchester County; ?", + "Orange & Rockland Utilities, Inc. (O&R), which together with its subsidiary, Rockland Electric Company, delivers electricity and natural gas to customers primarily located in southeastern New York State and northern New Jersey (O&R, together with CECONY referred to as the Utilities); ?", + "Con Edison Clean Energy Businesses, Inc. , which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers (Con Edison Clean Energy Businesses, Inc. , together with its subsidiaries referred to as the Clean Energy Businesses); and ?", + "Con Edison Transmission, Inc. , which through its subsidiaries invests in electric and gas transmission projects (Con Edison Transmission, Inc. , together with its subsidiaries referred to as Con Edison Transmission).", + "Con Edison anticipates that the Utilities, which are subject to extensive regulation, will continue to provide substantially all of its earnings over the next few years.", + "The Utilities have approved rate plans that are generally designed to cover each company\u2019s cost of service, including capital and other costs of each company\u2019s energy delivery systems.", + "The Utilities recover from their full-service customers (who purchase energy from them), generally on a current basis, the cost the Utilities pay for energy and charge all of their customers the cost of delivery service.", + "See \"Utility Regulation\" in Item 1, \"Risk Factors\" in Item 1A and \"Rate Plans\" in Note B to the financial statements in Item 8.", + "Selected Financial Data Con Edison", + "||For the Year Ended December 31,|\n|(Millions of Dollars, except per share amounts)|2014|2015|2016|2017|2018|\n|Operating revenues|$12,919|$12,554|$12,075|$12,033|12,337|\n|Energy costs|4,513|3,716|3,088|2,625|2,948|\n|Operating income (h)|2,591|2,879|2,780|2,774|2,664|\n|Net income|1,092|1,193|1,245|1,525(g)|1,382(g)|\n|Total assets (e)(f)|44,071|45,642(a)|48,255(b)|48,111(c)|53,920(d)|\n|Long-term debt (e)|11,546|12,006|14,735|14,731|17,495|\n|Total equity|12,585|13,061|14,306|15,425|16,839|\n|Net Income per common share \u2013 basic|$3.73|$4.07|$4.15|$4.97|$4.43|\n|Net Income per common share \u2013 diluted|$3.71|$4.05|$4.12|$4.94|$4.42|\n|Dividends declared per common share|$2.52|$2.60|$2.68|$2.76|$2.86|\n|Book value per share|$42.97|$44.50|$46.91|$49.72|$52.46|\n|Average common shares outstanding(millions)|293|293|300|307|312|\n", + "(a) Reflects a $2,382 million increase in net plant offset by a $970 million decrease in regulatory assets for unrecognized pension and other postretirement costs.", + "See Notes B, E and F to the financial statements in Item 8.", + "(b) Reflects a $3,007 million increase in net plant offset by a $1,002 million decrease in regulatory assets for unrecognized pension and other postretirement costs.", + "See Notes B, E and F to the financial statements in Item 8.", + "(c) Reflects a $2.384 million increase in net plant, offset by decreases in regulatory assets resulting from the enactment of the federal Tax Cuts and Jobs Act of 2017, as enacted on December 22, 2017 (TCJA) of $2,418 million (including the netting of $1,168 million against the", + "a material effect on its consolidated financial statements.", + "See Note 12 for details regarding a tax matter.", + "NOTE 14 VARIABLE INTEREST ENTITIES In connection with the 2006 sale of approximately 5.6 million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $4.8 billion.", + "The Timber Notes were used as collateral for borrowings from third party lenders, which effectively monetized the Timber Notes through the creation of newly formed special purposes entities (the Entities).", + "The monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales.", + "As of December 31, 2018, this deferred tax liability was $884 million.", + "During 2015, International Paper initiated a series of actions in order to extend the 2006 monetization structure and maintain the long-term nature of the deferred tax liability.", + "The Entities, with assets and liabilities primarily consisting of the Timber Notes and third-party bank loans (the Extension Loans), were restructured which resulted in the formation of wholly\u0002owned, bankruptcy-remote special purpose entities (the 2015 Financing Entities).", + "The Timber Notes are shown in Financial assets of special purpose entities on the accompanying consolidated balance sheet and mature in August 2021 unless extended for an additional five years.", + "These notes, which do not require principal payments prior to their maturity, are supported by approximately $4.8 billion of irrevocable letters of credit.", + "The Extension Loans are shown in Nonrecourse financial liabilities of special purpose entities on the accompanying consolidated balance sheet and mature in the fourth quarter of 2020.", + "These bank loans, totaling approximately $4.2 billion, are nonrecourse to the Company, and are secured by approximately $4.8 billion of Timber Notes, the irrevocable letters of credit supporting the Timber Notes and approximately $150 million of International Paper debt obligations.", + "The $150 million of International Paper debt obligations are eliminated in the consolidation of the 2015 Financing Entities and are not reflected in the Company\u2019s consolidated balance sheet.", + "Provisions of loan agreements related to approximately $1.1 billion of the Extension Loans require the bank issuing letters of credit supporting the Timber Notes pledged as collateral to maintain a credit rating at or above a specified threshold.", + "In the event the credit rating of the letter of credit bank is downgraded below the specified threshold, the letters of credit must be replaced within 60 days with letters of credit from a qualifying financial institution.", + "As of December 31, 2018 and 2017, the fair value of the Timber Notes was $4.7 billion and $4.8 billion, respectively, and the fair value of the Extension Loans was $4.2 billion and $4.3 billion for the years ended 2018 and 2017.", + "The Timber Notes and Extension Loans are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.", + "Activity between the Company and the 2015 Financing Entities was as follows:", + "|In millions|2018|2017|2016|\n|Revenue (a)|$95|$95|$95|\n|Expense (a)|128|128|128|\n|Cash receipts (b)|95|95|77|\n|Cash payments (c)|128|128|98|\n", + "(a) The revenue and expense are included in Interest expense, net in the accompanying consolidated statement of operations.", + "(b) The cash receipts are interest received on the Financial assets of special purpose entities.", + "(c) The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities.", + "In connection with the acquisition of Temple-Inland in February 2012, two special purpose entities became wholly-owned subsidiaries of International Paper.", + "The use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 Temple-Inland timberlands sales.", + "As of December 31, 2018, this deferred tax liability was $538 million, which will be settled with the maturity of the notes in 2027.", + "In October 2007, Temple-Inland sold 1.55 million acres of timberland for $2.4 billion.", + "The total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland, which Temple-Inland contributed to two wholly-owned, bankruptcy-remote special purpose entities.", + "The notes are shown in Financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $2.4 billion of irrevocable letters of credit issued by three banks, which are required to maintain minimum credit ratings on their long-term debt.", + "As of December 31, 2018 and 2017, the fair value of the notes was $2.2 billion and $2.3 billion, respectively.", + "These notes are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.", + "In December 2007, Temple-Inland's two wholly-owned special purpose entities borrowed $2.1 billion which is shown in Nonrecourse financial liabilities of special purpose entities.", + "The loans are repayable in 2027 and are secured by the $2.4 billion of notes and the irrevocable letters of credit securing the notes, and are nonrecourse to us.", + "The loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold, the" + ], + "question_id": "simplong-test-197", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of BENEFIT OBLIGATION AT END OF YEAR for Con Edison in the year with the least Benefit obligation at beginning of year for Con Edison?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||Year Ended December 31,|\n||2011|2010|2009|\n|Risk-free interest rate|1.2%|1.4%|1.7%|\n|Expected life (in years)|3.8|3.4|3.8|\n|Dividend yield|\u2014%|\u2014%|\u2014%|\n|Expected volatility|38%|37%|47%|\n", + "Our computation of expected volatility for 2011 , 2010 and 2009 was based on a combination of historical and market-based implied volatility from traded options on our stock.", + "Our computation of expected life was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior.", + "The interest rate for periods within the contractual life of the award was based on the U. S. Treasury yield curve in effect at the time of grant.", + "The estimation of awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised.", + "We consider many factors when estimating forfeitures, including employee class and historical experience.", + "Recent Accounting Pronouncements See \u201cNote 1 - The Company and Summary of Significant Accounting Policies\u201d to the consolidated financial statements included in this report, regarding the impact of certain recent accounting pronouncements on our consolidated financial statements.", + "Item 7A: Quantitative and Qualitative Disclosures About Market Risk Foreign Currency Exposure We have significant operations internationally that are denominated in foreign currencies, primarily the Euro, British pound, Korean won, Australian dollar and Canadian dollar, subjecting us to foreign currency risk which may adversely impact our financial results.", + "We transact business in various foreign currencies and have significant international revenues as well as costs.", + "In addition, we charge our international subsidiaries for their use of intellectual property and technology and for certain corporate services provided by eBay and by PayPal.", + "Our cash flow, results of operations and certain of our intercompany balances that are exposed to foreign exchange rate fluctuations may differ materially from expectations and we may record significant gains or losses due to foreign currency fluctuations and related hedging activities.", + "We have a foreign exchange exposure management program that aims to identify material foreign currency exposures, to manage these exposures, and to minimize the potential effects of currency fluctuations on our reported consolidated cash flows and results of operations through the purchase of foreign currency exchange contracts.", + "These foreign currency exchange contracts are accounted for as derivative instruments.", + "For additional details related to our derivative instruments, please see \u201cNote 9 - Derivative Instruments\u201d to the consolidated financial statements included in this report.", + "Interest Rate Risk The primary objective of our investment activities is to preserve principal while at the same time maximizing yields without significantly increasing risk.", + "To achieve this objective, we maintain our portfolio of cash equivalents and short-term and long-term investments in a variety of available for sale securities, including money market funds and government and corporate securities.", + "As of December 31, 2011 , approximately 56% of our total cash and investment portfolio was held in bank deposits and money market funds.", + "As such, changes in interest rates will impact our interest income.", + "In addition, we regularly issue new commercial paper notes to repay outstanding commercial paper notes as they mature, and those new commercial paper notes bear interest at rates prevailing at the time of issuance.", + "Accordingly, changes in interest rates will impact interest expense or cost of net revenues.", + "As of December 31, 2011 , we held no direct investments in auction rate securities, collateralized debt obligations, structured investment vehicles or mortgage-backed securities.", + "For additional details related to our investment activities, please see \"Note 7 - Investments\" to the consolidated financial statements included in this report.", + "Investments in both fixed-rate and floating-rate interest-earning instruments carry varying degrees of interest rate risk.", + "The fair market value of our fixed-rate securities may be adversely impacted due to a rise in interest rates.", + "In general, securities with longer maturities are subject to greater interest-rate risk than those with shorter maturities.", + "While floating rate securities generally are subject to less interest-rate risk than fixed\u0002rate securities, floating-rate securities may produce less income than expected if interest rates decrease.", + "Due in part to these factors, our investment income may fall short of expectations or we may suffer losses in principal if securities are sold that have declined in market value due to changes in interest rates.", + "As of", + "||Con Edison|CECONY|\n|(Millions of Dollars)|2015|2014|2013|2015|2014|2013|\n|CHANGE IN BENEFIT OBLIGATION|||||||\n|Benefit obligation at beginning of year|$1,411|$1,395|$1,454|$1,203|$1,198|$1,238|\n|Service cost|20|19|23|15|15|18|\n|Interest cost on accumulated postretirement benefit obligation|51|60|54|43|52|46|\n|Amendments|\u2014|-12|\u2014|\u2014|\u2014|\u2014|\n|Net actuarial loss/(gain)|-103|47|-42|-85|28|-20|\n|Benefits paid and administrative expenses|-127|-134|-136|-117|-125|-126|\n|Participant contributions|35|36|38|34|35|38|\n|Medicare prescription subsidy|\u2014|\u2014|4|\u2014|\u2014|4|\n|BENEFIT OBLIGATION AT END OF YEAR|$1,287|$1,411|$1,395|$1,093|$1,203|$1,198|\n|CHANGE IN PLAN ASSETS|||||||\n|Fair value of plan assets at beginning of year|$1,084|$1,113|$1,047|$950|$977|$922|\n|Actual return on plan assets|-6|59|153|-4|54|134|\n|Employer contributions|6|7|9|6|7|9|\n|EGWP payments|28|12|8|26|11|7|\n|Participant contributions|35|36|38|34|35|38|\n|Benefits paid|-153|-143|-142|-142|-134|-133|\n|FAIR VALUE OF PLAN ASSETS AT END OF YEAR|$994|$1,084|$1,113|$870|$950|$977|\n|FUNDED STATUS|$-293|$-327|$-282|$-223|$-253|$-221|\n|Unrecognized net loss|$28|$78|$70|$4|$45|$54|\n|Unrecognized prior service costs|-51|-71|-78|-32|-46|-61|\n", + "The decrease in the other postretirement benefit plan obligation (due primarily to increased discount rates) was the primary cause of the decreased liability for other postretirement benefits at Con Edison and CECONY of $34 million and $30 million, respectively, compared with December 31, 2014.", + "For Con Edison, this decreased liability corresponds with an increase to regulatory liabilities of $30 million for unrecognized net losses and unrecognized prior service costs associated with the Utilities consistent with the accounting rules for regulated operations, and an immaterial change to OCI (net of taxes) for the unrecognized net losses and a credit to OCI of $1 million (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses and O&R\u2019s New Jersey subsidiary.", + "For CECONY, the decrease in liability corresponds with an increase to regulatory liabilities of $27 million for unrecognized net losses and unrecognized prior service costs associated with the company consistent with the accounting rules for regulated operations, and an immaterial change to OCI (net of taxes) for the unrecognized net losses and unrecognized prior service costs associated with the competitive energy businesses.", + "A portion of the unrecognized net losses and prior service costs for the other postretirement benefits, equal to $12 million and $(20) million, respectively, will be recognized from accumulated OCI and the regulatory asset into net periodic benefit cost over the next year for Con Edison.", + "Included in these amounts are $10 million and $(14) million, respectively, for CECONY.", + "Assumptions The actuarial assumptions were as follows:", + "FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending December 31, 2015, and thereafter in the aggregate, are as follows (in millions):", + "|2011|$65.1|\n|2012|47.6|\n|2013|35.7|\n|2014|27.8|\n|2015|24.3|\n|Thereafter|78.1|\n|Total|$278.6|\n", + "In addition, the Company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $16.3 million per year which renew on a short-term basis.", + "Rent expense incurred under all operating leases during the years ended December 31, 2010, 2009 and 2008 was $116.1 million, $100.2 million and $117.0 million, respectively.", + "Included in discontinued operations in the Consolidated Statements of Earnings was rent expense of $2.0 million, $1.8 million and $17.0 million for the years ended December 31, 2010, 2009 and 2008, respectively.", + "Data Processing and Maintenance Services Agreements.", + "The Company has agreements with various vendors, which expire between 2011 and 2017, for portions of its computer data processing operations and related functions.", + "The Company\u2019s estimated aggregate contractual obligation remaining under these agreements was approximately $554.3 million as of December 31, 2010.", + "However, this amount could be more or less depending on various factors such as the inflation rate, foreign exchange rates, the introduction of significant new technologies, or changes in the Company\u2019s data processing needs.", + "(16) Employee Benefit Plans Stock Purchase Plan FIS employees participate in an Employee Stock Purchase Plan (ESPP).", + "Eligible employees may voluntarily purchase, at current market prices, shares of FIS\u2019 common stock through payroll deductions.", + "Pursuant to the ESPP, employees may contribute an amount between 3% and 15% of their base salary and certain commissions.", + "Shares purchased are allocated to employees based upon their contributions.", + "The Company contributes varying matching amounts as specified in the ESPP.", + "The Company recorded an expense of $14.3 million, $12.4 million and $14.3 million, respectively, for the years ended December 31, 2010, 2009 and 2008, relating to the participation of FIS employees in the ESPP.", + "Included in discontinued operations in the Consolidated Statements of Earnings was expense of $0.1 million and $3.0 million for the years ended December 31, 2009 and 2008, respectively.401(k) Profit Sharing Plan The Company\u2019s employees are covered by a qualified 401(k) plan.", + "Eligible employees may contribute up to 40% of their pretax annual compensation, up to the amount allowed pursuant to the Internal Revenue Code.", + "The Company generally matches 50% of each dollar of employee contribution up to 6% of the employee\u2019s total eligible compensation.", + "The Company recorded expense of $23.1 million, $16.6 million and $18.5 million, respectively, for the years ended December 31, 2010, 2009 and 2008, relating to the participation of FIS employees in the 401(k) plan.", + "Included in discontinued operations in the Consolidated Statements of Earnings was expense of $0.1 million and $3.9 million for the years ended December 31, 2009 and 2008, respectively", + "The following table presents a reconciliation of net cash provided by operating activities to free cash flow available to News Corporation:" + ], + "question_id": "simplong-test-198", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage change in the balance of asset allocation from 2016 to 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Long-term product offerings include alpha-seeking active and index strategies.", + "Our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile, and leverage fundamental research and 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.", + "Although many clients use both alpha-seeking 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, or may use a combination of index strategies to target active returns.", + "In addition, institutional non-ETF index assignments tend to be very large (multi-billion dollars) and typically reflect low fee rates.", + "Net flows in institutional index products generally have a small impact on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2017 equity AUM totaled $3.372 trillion, reflecting net inflows of $130.1 billion.", + "Net inflows included $174.4 billion into iShares ETFs, driven by net inflows into Core funds and broad developed and emerging market equities, partially offset by non-ETF index and active net outflows of $25.7 billion and $18.5 billion, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s equity AUM is tied to international markets, including emerging markets, which tend to have higher fee rates than U. S. equity strategies.", + "Accordingly, fluctuations in international equity markets, which may not consistently move in tandem with U. S. markets, have a greater impact on BlackRock\u2019s equity revenues and effective fee rate.", + "Fixed Income Fixed income AUM ended 2017 at $1.855 trillion, reflecting net inflows of $178.8 billion.", + "In 2017, active net inflows of $21.5 billion were diversified across fixed income offerings, and included strong inflows into municipal, unconstrained and total return bond funds.", + "iShares ETFs net inflows of $67.5 billion were led by flows into Core, corporate and treasury bond funds.", + "Non-ETF index net inflows of $89.8 billion were driven by demand for liability-driven investment solutions.", + "Multi-Asset BlackRock\u2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities, bonds, currencies 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 AUM for 2017 are presented below.", + "|(in millions)|December 31,2016|Net inflows (outflows)|Marketchange|FXimpact|December 31,2017|\n|Asset allocation and balanced|$176,675|$-2,502|$17,387|$4,985|$196,545|\n|Target date/risk|149,432|23,925|24,532|1,577|199,466|\n|Fiduciary|68,395|-1,047|7,522|8,819|83,689|\n|FutureAdvisor-1|505|-46|119|\u2014|578|\n|Total|$395,007|$20,330|$49,560|$15,381|$480,278|\n", + "(1) FutureAdvisor amounts do not include AUM held in iShares ETFs.", + "Multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $18.9 billion of net inflows coming from institutional clients.", + "Defined contribution plans of institutional clients remained a significant driver of flows, and contributed $20.8 billion to institutional multi-asset net inflows in 2017, primarily into target date and target risk product offerings.", + "Retail net inflows of $1.1 billion reflected demand for our Multi-Asset Income fund family, which raised $5.8 billion in 2017.", + "The Company\u2019s multi-asset strategies include the following: ?", + "Asset allocation and balanced products represented 41% of multi-asset AUM at year-end.", + "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 and Multi-Asset Income fund families. ?", + "Target date and target risk products grew 16% organically in 2017, with net inflows of $23.9 billion.", + "Institutional investors represented 93% of target date and target risk AUM, with defined contribution plans accounting for 87% of AUM.", + "Flows were driven by defined contribution investments in our LifePath offerings.", + "LifePath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor\u2019s expected retirement timing.", + "Underlying investments are primarily index products. ?", + "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 investment management.", + "These customized services require strong partnership with the clients\u2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives.", + "not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at December 31, 2017.", + "The 2017 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities.", + "At December 31, 2017, the Company had no amount outstanding under the 2017 credit facility Commercial Paper Program.", + "The Company can issue unsecured commercial paper notes (the \u201cCP Notes\u201d) on a private-placement basis up to a maximum aggregate amount outstanding at any time of $4.0 billion.", + "The commercial paper program is currently supported by the 2017 credit facility.", + "At December 31, 2017, BlackRock had no CP Notes outstanding Long-Term Borrowings The carrying value of long-term borrowings at December 31, 2017 included the following:", + "|(in millions)|Maturity Amount|Carrying Value|Maturity|\n|5.00% Notes|$1,000|$999|December 2019|\n|4.25% Notes|750|747|May 2021|\n|3.375% Notes|750|746|June 2022|\n|3.50% Notes|1,000|994|March 2024|\n|1.25% Notes-1|841|835|May 2025|\n|3.20% Notes|700|693|March 2027|\n|Total Long-term Borrowings|$5,041|$5,014||\n", + "(1) The carrying value of the 1.25% Notes estimated using foreign exchange rate as of December 31, 2017.", + "For more information on Company\u2019s borrowings, see Note 12, Borrowings, in the notes to the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Contractual Obligations, Commitments and Contingencies The following table sets forth contractual obligations, commitments and contingencies by year of payment at December 31, 2017:", + "|(in millions)|2018|2019|2020|2021|2022|Thereafter-1|Total|\n|Contractual obligations and commitments-1:||||||||\n|Long-term borrowings-2:||||||||\n|Principal|$\u2014|$1,000|$\u2014|$750|$750|$2,541|$5,041|\n|Interest|175|175|125|109|81|185|850|\n|Operating leases|141|132|126|118|109|1,580|2,206|\n|Purchase obligations|128|101|29|22|19|28|327|\n|Investment commitments|298|\u2014|\u2014|\u2014|\u2014|\u2014|298|\n|Total contractual obligations and commitments|742|1,408|280|999|959|4,334|8,722|\n|Contingent obligations:||||||||\n|Contingent payments related to business acquisitions-3|33|179|39|34|\u2014|\u2014|285|\n|Total contractual obligations, commitments andcontingent obligations-4|$775|$1,587|$319|$1,033|$959|$4,334|$9,007|\n", + "(1) Amounts do not include $350 million of cash payment consideration and contingent consideration related to the Company\u2019s agreement to acquire the asset management business of Citibanamex.", + "(2) The amount of principal and interest payments for the 2025 Notes (issued in Euros) represents the expected payment amounts using foreign exchange rates as of December 31, 2017.", + "(3) The amount of contingent payments reflected for any year represents the expected payments using foreign currency exchange rates as of December 31, 2017.", + "The fair value of the remaining aggregate contingent payments at December 31, 2017 totaled $236 million and is included in other liabilities on the consolidated statements of financial condition.", + "(4) At December 31, 2017, the Company had approximately $365 million of net unrecognized tax benefits.", + "Due to the uncertainty of timing and amounts that will ultimately be paid, this amount has been excluded from the table above.", + "Operating Leases.", + "The Company leases its primary office locations under agreements that expire on varying dates through 2043.", + "In connection with certain lease agreements, the Company is responsible for escalation payments.", + "The contractual obligations table above includes only guaranteed minimum lease payments for such leases and does not project potential escalation or other lease-related payments.", + "These leases are classified as operating leases and, as such, are not recorded as liabilities on the consolidated statements of financial condition.", + "In May 2017, the Company entered into an agreement with 50 HYMC Owner LLC, for the lease of approximately 847,000 square feet of office space located at 50 Hudson Yards, New York, New York.", + "The term of the lease is twenty years from the date that rental payments begin, expected to occur in", + "McKESSON CORPORATION FINANCIAL REVIEW (Continued) 46 In July 2008, the Board authorized the retirement of shares of the Company\u2019s common stock that may be repurchased from time-to-time pursuant to its stock repurchase program.", + "During the second quarter of 2009, all of the 4 million repurchased shares, which we purchased for $204 million, were formally retired by the Company.", + "The retired shares constitute authorized but unissued shares.", + "We elected to allocate any excess of share repurchase price over par value between additional paid-in capital and retained earnings.", + "As such, $165 million was recorded as a decrease to retained earnings.", + "The Company anticipates that it will continue to pay quarterly cash dividends in the future.", + "However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company\u2019s future earnings, financial condition, capital requirements and other factors.", + "Although we believe that our operating cash flow, financial assets, current access to capital and credit markets, including our existing credit and sales facilities, will give us the ability to meet our financing needs for the foreseeable future, there can be no assurance that continued or increased volatility and disruption in the global capital and credit markets will not impair our liquidity or increase our costs of borrowing.", + "Selected Measures of Liquidity and Capital Resources:" + ], + "question_id": "simplong-test-199", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of all Additional Paid-in Capita that are positive in 2007? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Sumitomo Mitsui Financial Group, Inc. (SMFG) provides the firm with credit loss protection on certain approved loan commitments (primarily investment-grade commercial lending commitments).", + "The notional amount of such loan commitments was $29.24 billion and $32.41 billion as of December 2013 and December 2012, respectively.", + "The credit loss protection on loan commitments provided by SMFG is generally limited to 95% of the first loss the firm realizes on such commitments, up to a maximum of approximately $950 million.", + "In addition, subject to the satisfaction of certain conditions, upon the firm\u2019s request, SMFG will provide protection for 70% of additional losses on such commitments, up to a maximum of $1.13 billion, of which $870 million and $300 million of protection had been provided as of December 2013 and December 2012, respectively.", + "The firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by SMFG.", + "These instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity, or credit default swaps that reference a market index.", + "Warehouse Financing.", + "The firm provides financing to clients who warehouse financial assets.", + "These arrangements are secured by the warehoused assets, primarily consisting of corporate loans and commercial mortgage loans.", + "Contingent and Forward Starting Resale and Securities Borrowing Agreements/Forward Starting Repurchase and Secured Lending Agreements The firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date, generally within three business days.", + "The firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements.", + "The firm\u2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused.", + "Investment Commitments The firm\u2019s investment commitments consist of commitments to invest in private equity, real estate and other assets directly and through funds that the firm raises and manages.", + "These commitments include $659 million and $872 million as of December 2013 and December 2012, respectively, related to real estate private investments and $6.46 billion and $6.47 billion as of December 2013 and December 2012, respectively, related to corporate and other private investments.", + "Of these amounts, $5.48 billion and $6.21 billion as of December 2013 and December 2012, respectively, relate to commitments to invest in funds managed by the firm.", + "If these commitments are called, they would be funded at market value on the date of investment.", + "Leases The firm has contractual obligations under long-term noncancelable lease agreements, principally for office space, expiring on various dates through 2069.", + "Certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges.", + "The table below presents future minimum rental payments, net of minimum sublease rentals.", + "|in millions|As of December 2013|\n|2014|$ 387|\n|2015|340|\n|2016|280|\n|2017|271|\n|2018|222|\n|2019 - thereafter|1,195|\n|Total|$2,695|\n", + "Rent charged to operating expense was $324 million for 2013, $374 million for 2012 and $475 million for 2011.", + "Operating leases include office space held in excess of current requirements.", + "Rent expense relating to space held for growth is included in \u201cOccupancy.", + "\u201d The firm records a liability, based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals, for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits.", + "Costs to terminate a lease before the end of its term are recognized and measured at fair value on termination.", + "Contingencies Legal Proceedings.", + "See Note 27 for information about legal proceedings, including certain mortgage-related matters.", + "Certain Mortgage-Related Contingencies.", + "There are multiple areas of focus by regulators, governmental agencies and others within the mortgage market that may impact originators, issuers, servicers and investors.", + "There remains significant uncertainty surrounding the nature and extent of any potential exposure for participants in this market.", + "M&T BANK CORPORATION AND SUBSIDIARIES Consolidated Statement of Changes in Stockholders\u2019 Equity", + "| (In thousands, except per share)|||Common Stock Issuable|Additional Paid-in Capital||Accumulated Other Comprehensive Income (Loss), Net|||\n|| Preferred Stock| Common Stock|Retained Earnings|Treasury Stock|Total|\n| 2006|||||||||\n|Balance \u2014 January 1, 2006|$\u2014|60,198|5,363|2,886,153|3,854,275|-97,930|-831,673|5,876,386|\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|839,189|\u2014|\u2014|839,189|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized gains on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|23,265|\u2014|23,265|\n|Minimum pension liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|30,932|\u2014|30,932|\n|||||||||893,386|\n|Change in accounting for defined benefit plans (note 12)|\u2014|\u2014|\u2014|\u2014|\u2014|-9,841|\u2014|-9,841|\n|Purchases of treasury stock|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|-373,860|-373,860|\n|Repayment of management stock ownership program receivable|\u2014|\u2014|\u2014|225|\u2014|\u2014|\u2014|225|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|51,237|\u2014|\u2014|\u2014|51,237|\n|Exercises|\u2014|\u2014|\u2014|-47,742|\u2014|\u2014|140,053|92,311|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|133|\u2014|\u2014|977|1,110|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-303|-557|-206|\u2014|1,024|-42|\n|Common stock cash dividends \u2014 $2.25 per share|\u2014|\u2014|\u2014|\u2014|-249,817|\u2014|\u2014|-249,817|\n|Balance \u2014 December 31, 2006|$\u2014|60,198|5,060|2,889,449|4,443,441|-53,574|-1,063,479|6,281,095|\n| 2007|||||||||\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|654,259|\u2014|\u2014|654,259|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized losses on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|-34,095|\u2014|-34,095|\n|Defined benefit plan liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|-18,222|\u2014|-18,222|\n|Unrealized losses on cash flow hedges|\u2014|\u2014|\u2014|\u2014|\u2014|-8,931|\u2014|-8,931|\n|||||||||593,011|\n|Acquisition of Partners Trust Financial Group, Inc. \u2014 common stock issued|\u2014|\u2014|\u2014|-54,628|\u2014|\u2014|331,643|277,015|\n|Purchases of treasury stock|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|-508,404|-508,404|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|49,824|\u2014|\u2014|1,605|51,429|\n|Exercises|\u2014|\u2014|\u2014|-35,397|\u2014|\u2014|107,116|71,719|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|63|\u2014|\u2014|1,278|1,341|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-284|-559|-215|\u2014|1,008|-50|\n|Common stock cash dividends \u2014 $2.60 per share|\u2014|\u2014|\u2014|\u2014|-281,900|\u2014|\u2014|-281,900|\n|Balance \u2014 December 31, 2007|$\u2014|60,198|4,776|2,848,752|4,815,585|-114,822|-1,129,233|6,485,256|\n| 2008|||||||||\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|555,887|\u2014|\u2014|555,887|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized losses on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|-497,262|\u2014|-497,262|\n|Defined benefit plan liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|-127,845|\u2014|-127,845|\n|Unrealized losses on terminated cash flow hedges|\u2014|\u2014|\u2014|\u2014|\u2014|3,048|\u2014|3,048|\n|||||||||-66,172|\n|Issuance of preferred stock and associated warrants|567,463|\u2014|\u2014|32,537|\u2014|\u2014|\u2014|600,000|\n|Repayment of management stock ownership program receivable|\u2014|\u2014|\u2014|72|\u2014|\u2014|\u2014|72|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|46,025|\u2014|\u2014|3,602|49,627|\n|Exercises|\u2014|\u2014|\u2014|-28,543|\u2014|\u2014|51,548|23,005|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|-450|\u2014|\u2014|1,797|1,347|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-159|-486|-217|\u2014|959|97|\n|Common stock cash dividends \u2014 $2.80 per share|\u2014|\u2014|\u2014|\u2014|-308,501|\u2014|\u2014|-308,501|\n|Balance \u2014 December 31, 2008|$567,463|60,198|4,617|2,897,907|5,062,754|-736,881|-1,071,327|6,784,731|\n", + "See accompanying notes to financial statements.", + "M&T BANK CORPORATION AND SUBSIDIARIES Notes to Financial Statements \u2014 (Continued) pricing of such financial instruments is based largely on credit quality and relationship, probability of funding and other requirements.", + "Loan commitments often have fixed expiration dates and contain termination and other clauses which provide for relief from funding in the event of significant deterioration in the credit quality of the customer.", + "The rates and terms of the Company\u2019s loan commitments, credit guarantees and letters of credit are competitive with other financial institutions operating in markets served by the Company.", + "The Company believes that the carrying amounts, which are included in other liabilities, are reasonable estimates of the fair value of these financial instruments.", + "The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company.", + "The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities.", + "Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise.", + "Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made.", + "Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different.21.", + "Commitments and contingencies In the normal course of business, various commitments and contingent liabilities are outstanding.", + "The following table presents the Company\u2019s significant commitments.", + "Certain of these commitments are not included in the Company\u2019s consolidated balance sheet.", + "|| December 31|\n|| 2008| 2007|\n|| (In thousands)|\n|Commitments to extend credit|||\n|Home equity lines of credit|$5,972,541|$5,937,903|\n|Commercial real estate loans to be sold|252,559|96,995|\n|Other commercial real estate and construction|2,238,464|2,869,961|\n|Residential real estate loans to be sold|870,578|492,375|\n|Other residential real estate|211,705|425,579|\n|Commercial and other|6,666,988|7,346,790|\n|Standby letters of credit|3,886,396|3,691,971|\n|Commercial letters of credit|45,503|34,105|\n|Financial guarantees and indemnification contracts|1,546,873|1,318,733|\n|Commitments to sell real estate loans|1,306,041|946,457|\n", + "Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee.", + "Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party.", + "Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and third party.", + "The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies.", + "Collateral may be obtained based on management\u2019s assessment of the customer\u2019s creditworthiness.", + "Financial guarantees and indemnification contracts are oftentimes similar to standby letters of credit and include mandatory purchase agreements issued to ensure that customer obligations are fulfilled, recourse obligations associated with sold loans, and other guarantees of customer performance or compliance with designated rules and regulations.", + "Included in financial guarantees and", + "$28.6 billion in 2007 and $28.3 billion in 2006.", + "The acquisition transactions in late-2007 added $2.0 billion of core deposits on the respective acquisition dates, however, the Company\u2019s average core deposits in 2007 only increased $156 million from those transactions.", + "The previously discussed June 30, 2006 branch acquisition added approximately $880 million to average core deposits during the second half of 2006, or approximately $443 million for the year ended December 31, 2006.", + "Average core deposits of M&T Bank, N. A. were $274 million in 2008, $208 million in 2007 and $387 million in 2006.", + "Funding provided by core deposits represented 55% of average earning assets in each of 2008 and 2007, and 57% in 2006.", + "Core deposits totaled $34.3 billion at December 31, 2008, compared with $30.7 billion at December 31, 2007.", + "Table 8 summarizes average core deposits in 2008 and percentage changes in the components of such deposits over the past two years.", + "Table 8 AVERAGE CORE DEPOSITS" + ], + "question_id": "simplong-test-200", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of the Unit redemptions in the years where Mortgages Payable for Carrying Amounts is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents Mac The following table presents Mac net sales and unit sales information for 2014, 2013 and 2012 (dollars in millions and units in thousands):", + "|| 2014| Change| 2013|Change| 2012|\n|Net sales|$24,079|12%|$21,483|-7%|$23,221|\n|Percentage of total net sales|13%||13%||15%|\n|Unit sales|18,906|16%|16,341|-10%|18,158|\n", + "The year-over-year growth in Mac net sales and unit sales for 2014 was primarily driven by increased sales of MacBook Air, MacBook Pro and Mac Pro.", + "Mac net sales and unit sales increased in all of the Company\u2019s operating segments.", + "Mac ASPs decreased during 2014 compared to 2013 primarily due to price reductions on certain Mac models and a shift in mix towards Mac portable systems.", + "Mac net sales and unit sales for 2013 were down or relatively flat in all of the Company\u2019s operating segments.", + "Mac ASPs increased slightly partially offsetting the impact of lower unit sales on net sales.", + "The decline in Mac unit sales and net sales reflected the overall weakness in the market for personal computers.", + "iTunes, Software and Services The following table presents net sales information of iTunes, Software and Services for 2014, 2013 and 2012 (dollars in millions):", + "|| 2014| Change| 2013| Change| 2012|\n|iTunes, Software and Services|$18,063|13%|$16,051|25%|$12,890|\n|Percentage of total net sales|10%||9%||8%|\n", + "The increase in net sales of iTunes, Software and Services in 2014 compared to 2013 was primarily due to growth in net sales from the iTunes Store, AppleCare and licensing.", + "The iTunes Store generated a total of $10.2 billion in net sales during 2014 compared to $9.3 billion during 2013.", + "Growth in net sales from the iTunes Store was driven by increases in revenue from app sales reflecting continued growth in the installed base of iOS devices and the expanded offerings of iOS Apps and related in-App purchases.", + "This was partially offset by a decline in sales of digital music.", + "The increase in net sales of iTunes, Software and Services in 2013 compared to 2012 was primarily due to growth in net sales from the iTunes Store, AppleCare and licensing.", + "The iTunes Store generated a total of $9.3 billion in net sales during 2013, a 24% increase from 2012.", + "Growth in the iTunes Store, which includes the App Store, the Mac App Store and the iBooks Store, reflected continued growth in the installed base of iOS devices, expanded offerings of iOS Apps and related in-App purchases, and expanded offerings of iTunes digital content.", + "Segment Operating Performance The Company manages its business primarily on a geographic basis.", + "Accordingly, the Company determined its reportable operating segments, which are generally based on the nature and location of its customers, to be the Americas, Europe, Greater China, Japan, Rest of Asia Pacific and Retail.", + "The Americas segment includes both North and South America.", + "The Europe segment includes European countries, as well as India, the Middle East and Africa.", + "The Greater China segment includes China, Hong Kong and Taiwan.", + "The Rest of Asia Pacific segment includes Australia and Asian countries, other than those countries included in the Company\u2019s other operating segments.", + "The results of the Company\u2019s geographic segments do not include results of the Retail segment.", + "Each operating segment provides similar hardware and software products and similar services.", + "Further information regarding the Company\u2019s operating segments may be found in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 11, \u201cSegment Information and Geographic Data.", + "\u201d", + "KIMCO REALTY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED Noncontrolling interests also includes 138,015 convertible units issued during 2006, by the Company, which are valued at approximately $5.3 million, including a fair market value adjustment of $0.3 million, related to an interest acquired in an office building located in Albany, NY.", + "These units are redeemable at the option of the holder after one year for cash or at the option of the Company for the Company\u2019s common stock at a ratio of 1:1.", + "The holder is entitled to a distribution equal to the dividend rate of the Company\u2019s common stock.", + "The Company is restricted from disposing of these assets, other than through a tax free transaction, until January 2017.", + "The following table presents the change in the redemption value of the Redeemable noncontrolling interests for the year ended December 31, 2009 and December 31, 2008 (amounts in thousands):", + "||2009|2008|\n|Balance at January 1,|$115,853|$173,592|\n|Unit redemptions|-14,889|-55,110|\n|Fair market value amortization|-571|-2,524|\n|Other|-89|-105|\n|Balance at December 31,|$100,304|$115,853|\n", + "16.", + "Fair Value Disclosure of Financial Instruments: All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management\u2019s estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values except those listed below, for which fair values are reflected.", + "The valuation method used to estimate fair value for fixed-rate and variable-rate debt and noncontrolling interests relating to mandatorily redeemable noncontrolling interests associated with finite-lived subsidiaries of the Company is based on discounted cash flow analyses, with assumptions that include credit spreads, loan amounts and debt maturities.", + "The fair values for marketable securities are based on published or securities dealers\u2019 estimated market values.", + "Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition.", + "The following are financial instruments for which the Company\u2019s estimate of fair value differs from the carrying amounts (in thousands):", + "||December 31, 2009 Carrying Amounts|Estimated Fair Value|2008 Carrying Amounts|Estimated Fair Value|\n|Marketable Securities|$209,593|$204,006|$258,174|$218,786|\n|Notes Payable|$3,000,303|$3,099,139|$3,440,819|$2,766,187|\n|Mortgages Payable|$1,388,259|$1,377,224|$847,491|$838,503|\n|Construction Payable|$45,821|$44,725|$268,337|$262,485|\n|Mandatorily Redeemable Noncontrolling Interests(termination dates ranging from 2019 \u2013 2027)|$2,768|$5,256|$2,895|$5,444|\n", + "The Company has certain financial instruments that must be measured under the FASB\u2019s Fair Value Measurements and Disclosures guidance, including: available for sale securities, convertible notes and derivatives.", + "The Company currently does not have non-financial assets and non-financial liabilities that are required to be measured at fair value on a recurring basis.", + "As a basis for considering market participant assumptions in fair value measurements, the FASB\u2019s Fair Value Measurements and Disclosures guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity\u2019s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).", + "Net interest on the stock loan/borrow business decreased 38% due to decreased rates and balances despite a focus on hard-to-locate securities.", + "Other interest revenue and expense include earnings on corporate cash and inventory balances, and interest expense on overnight borrowings, our senior notes issued in August, 2009 and the mortgage on our headquarters facility.", + "Results of Operations - Private Client Group The following table presents consolidated financial information for our PCG segment for the years indicated:", + "||Year Ended|\n||September 30, 2009|% Incr. (Decr.)|September 30, 2008|% Incr. (Decr.)|September 30, 2007|\n||($ in 000's)|\n|Revenues:||||||\n|Securities Commissions and Fees|$ 1,262,810|-18%|$ 1,532,290|5%|$ 1,462,323|\n|Interest|65,589|-72%|233,801|-28%|326,601|\n|Financial Service Fees|125,038|-2%|127,304|16%|110,056|\n|Other|104,025|-2%|106,380|20%|88,502|\n|Total Revenues|1,557,462|-22%|1,999,775|1%|1,987,482|\n|Interest Expense|14,891|-89%|141,474|-32%|208,537|\n|Net Revenues|1,542,570|-17%|1,858,301|4%|1,778,945|\n|Non-Interest Expenses:||||||\n|Sales Commissions|929,202|-19%|1,144,727|6%|1,082,457|\n|Admin & Incentive Comp and Benefit Costs|279,666|-4%|289,937|15%|251,684|\n|Communications and Information Processing|58,607|-2%|59,753|7%|55,822|\n|Occupancy and Equipment|79,072|8%|73,253|18%|61,961|\n|Business Development|55,488|-15%|64,992|12%|57,816|\n|Clearance and Other|55,951|18%|47,369|1%|46,983|\n|Total Non-Interest Expenses|1,457,986|-13%|1,680,031|8%|1,556,723|\n|Income Before Taxes and Minority Interest|84,584|-53%|178,270|-20%|222,222|\n|Minority Interest|-289||124||-148|\n|Pre-tax Income|$ 84,873|-52%|$ 178,146|-20%|$ 222,370|\n|Margin on Net Revenues|5.5%||9.6%||12.5%|\n", + "Year ended September 30, 2009 Compared with the Year ended September 30, 2008 - Private Client Group PCG revenues were 22% below the prior year, reflecting the impact of the extremely challenging economic and market conditions.", + "Commission revenue decreased $269 million, or 18%, from the prior year, with the majority of that decrease experienced by our domestic independent contractor operation.", + "Commissions in RJ&A PCG declined only $45 million, or 9%, due to the recruitment of 219 employee financial advisors in fiscal 2009 (for a net increase of 94) and 184 in fiscal 2008 (for a net increase of 114).", + "It generally takes newly recruited financial advisors up to two years to reach their previous production levels.", + "Average production per employee financial advisor decreased to $417,000 in fiscal 2009, down 19% from the $515,000 attained in fiscal 2008.", + "The recruitment of above-average producers did not overcome the negative impact that the steep market decline had on our private clients\u2019 investing activities.", + "RJFS and RJFSA recruited 559 independent contractor financial advisors in fiscal 2009 (for a net increase of 129).", + "Independent contractor financial advisor average production decreased from $330,000 in fiscal 2008 to $273,000 in fiscal 2009, impacted, like RJ&A, by the challenging economic and market conditions." + ], + "question_id": "simplong-test-201", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how many years did it take to close the pilgrim plant after after its last refueling?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part I Item 1 Entergy Corporation, Utility operating companies, and System Energy 253 including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017.", + "In October 2015, Entergy determined that it would close the Pilgrim plant.", + "The decision came after management\u2019s extensive analysis of the economics and operating life of the plant following the NRC\u2019s decision in September 2015 to place the plant in its \u201cmultiple/repetitive degraded cornerstone column\u201d (Column 4) of its Reactor Oversight Process Action Matrix.", + "The Pilgrim plant is expected to cease operations on May 31, 2019, after refueling in the spring of 2017 and operating through the end of that fuel cycle.", + "In December 2015, Entergy Wholesale Commodities closed on the sale of its 583 MW Rhode Island State Energy Center (RISEC), in Johnston, Rhode Island.", + "The base sales price, excluding adjustments, was approximately $490 million.", + "Entergy Wholesale Commodities purchased RISEC for $346 million in December 2011.", + "In December 2016, Entergy announced that it reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant on May 31, 2018.", + "Pursuant to the PPA termination agreement, Consumers Energy will pay Entergy $172 million for the early termination of the PPA.", + "The PPA termination agreement is subject to regulatory approvals.", + "Separately, and assuming regulatory approvals are obtained for the PPA termination agreement, Entergy intends to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle.", + "Entergy expects to enter into a new PPA with Consumers Energy under which the plant would continue to operate through October 1, 2018.", + "In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point\u2019s operating license renewal.", + "As part of the settlement, New York State has agreed to issue Indian Point\u2019s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC.", + "New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license.", + "The shutdowns are conditioned, among other things, upon such actions being taken by New York State.", + "Even without opposition, the NRC license renewal process is expected to continue at least into 2018.", + "With the settlement concerning Indian Point, Entergy now has announced plans for the disposition of all of the Entergy Wholesale Commodities nuclear power plants, including the sales of Vermont Yankee and FitzPatrick, and the earlier than previously expected shutdowns of Pilgrim, Palisades, Indian Point 2, and Indian Point 3.", + "See \u201cEntergy Wholesale Commodities Exit from the Merchant Power Business\u201d for further discussion.", + "Property Nuclear Generating Stations Entergy Wholesale Commodities includes the ownership of the following nuclear power plants:", + "|Power Plant|Market|In Service Year|Acquired|Location|Capacity - Reactor Type|License Expiration Date|\n|Pilgrim (a)|IS0-NE|1972|July 1999|Plymouth, MA|688 MW - Boiling Water|2032 (a)|\n|FitzPatrick (b)|NYISO|1975|Nov. 2000|Oswego, NY|838 MW - Boiling Water|2034 (b)|\n|Indian Point 3 (c)|NYISO|1976|Nov. 2000|Buchanan, NY|1,041 MW - Pressurized Water|2015 (c)|\n|Indian Point 2 (c)|NYISO|1974|Sept. 2001|Buchanan, NY|1,028 MW - Pressurized Water|2013 (c)|\n|Vermont Yankee (d)|IS0-NE|1972|July 2002|Vernon, VT|605 MW - Boiling Water|2032 (d)|\n|Palisades (e)|MISO|1971|Apr. 2007|Covert, MI|811 MW - Pressurized Water|2031 (e)|\n", + "|Consolidated Balance Sheet Data|At July 31,|\n|(In millions)|2014|2013|2012|2011|2010|\n|Cash, cash equivalents and investments|$1,914|$1,661|$744|$1,421|$1,622|\n|Long-term investments|31|83|75|63|91|\n|Working capital|1,200|1,116|258|449|1,074|\n|Total assets|5,201|5,486|4,684|5,110|5,198|\n|Current portion of long-term debt|\u2014|\u2014|\u2014|500|\u2014|\n|Long-term debt|499|499|499|499|998|\n|Other long-term obligations|203|167|166|175|143|\n|Total stockholders\u2019 equity|3,078|3,531|2,744|2,616|2,821|\n", + "ITEM 7 MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Our Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes the following sections: ?", + "Executive Overview that discusses at a high level our operating results and some of the trends that affect our business. ?", + "Critical Accounting Policies and Estimates that we believe are important to understanding the assumptions and judgments underlying our financial statements. ?", + "Results of Operations that includes a more detailed discussion of our revenue and expenses. ?", + "Liquidity and Capital Resources which discusses key aspects of our statements of cash flows, changes in our balance sheets and our financial commitments.", + "You should note that this MD&A discussion contains forward-looking statements that involve risks and uncertainties.", + "Please see the section entitled \u201cForward-Looking Statements and Risk Factors\u201d at the beginning of Item 1A for important information to consider when evaluating such statements.", + "You should read this MD&A in conjunction with the financial statements and related notes in Item 8 of this Annual Report.", + "In fiscal 2014 we acquired Check Inc. and in fiscal 2012 we acquired Demandforce, Inc. We have included their results of operations in our consolidated results of operations from the dates of acquisition.", + "In fiscal 2013 we completed the sale of our Intuit Websites business and in fiscal 2014 we completed the sales of our Intuit Financial Services (IFS) and Intuit Health businesses.", + "We accounted for all of these businesses as discontinued operations and have therefore reclassified our statements of operations for all periods presented to reflect them as such.", + "We have also reclassified our balance sheets for all periods presented to reflect IFS as discontinued operations.", + "The net assets of Intuit Websites and Intuit Health were not significant, so we have not reclassified our balance sheets for any period presented to reflect them as discontinued operations.", + "Because the cash flows of our Intuit Websites, IFS, and Intuit Health discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses from continuing operations on our statements of cash flows.", + "See \u201cResults of Operations \u2013 Non-Operating Income and Expense \u2013 Discontinued Operations\u201d later in this Item 7 for more information.", + "Unless otherwise noted, the following discussion pertains to our continuing operations.", + "Executive Overview This overview provides a high level discussion of our operating results and some of the trends that affect our business.", + "We believe that an understanding of these trends is important in order to understand our financial results for fiscal 2014 as well as our future prospects.", + "This summary is not intended to be exhaustive, nor is it intended to be a substitute for the detailed discussion and analysis provided elsewhere in this Annual Report on Form 10-K.", + "See the table later in this Note 7 for more information on the IFS operating results.", + "The carrying amounts of the major classes of assets and liabilities of IFS at July 31, 2013 were as shown in the following table.", + "These carrying amounts approximated fair value.", + "|(In millions)|July 31, 2013|\n|Accounts receivable|$40|\n|Other current assets|4|\n|Property and equipment, net|31|\n|Goodwill|914|\n|Purchased intangible assets, net|4|\n|Other assets|6|\n|Total assets|999|\n|Accounts payable|15|\n|Accrued compensation|21|\n|Deferred revenue|3|\n|Long-term obligations|9|\n|Total liabilities|48|\n|Net assets|$951|\n", + "Intuit Health In July 2013 management having the authority to do so formally approved a plan to sell our Intuit Health business and on August 19, 2013 we completed the sale for cash consideration that was not significant.", + "We recorded a $4 million pre-tax loss on the disposal of Intuit Health that was more than offset by a related income tax benefit of approximately $14 million, resulting in a net gain on disposal of approximately $10 million in the first quarter of fiscal 2014.", + "The decision to sell the Intuit Health business was a result of management's desire to focus resources on its offerings for small businesses, consumers, and accounting professionals.", + "Intuit Health was part of our former Other Businesses reportable segment.", + "We determined that our Intuit Health business became a long-lived asset held for sale in the fourth quarter of fiscal 2013.", + "A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell.", + "Since the carrying value of Intuit Health at July 31, 2013 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date.", + "We also classified our Intuit Health business as discontinued operations in the fourth quarter of fiscal 2013 and have segregated its operating results in our statements of operations for all periods presented.", + "See the table later in this Note for more information.", + "We have not segregated the net assets of Intuit Health on our balance sheets for any period presented.", + "Net assets held for sale at July 31, 2013 consisted primarily of operating assets and liabilities that were not material.", + "Because operating cash flows from the Intuit Health business were also not material for any period presented, we have not segregated them from continuing operations on our statements of cash flows.", + "Intuit Websites In July 2012 management having the authority to do so formally approved a plan to sell our Intuit Websites business, which was a component of our Small Business reportable segment.", + "The decision was the result of a shift in our strategy for helping small businesses to establish an online presence.", + "On August 10, 2012 we signed a definitive agreement to sell our Intuit Websites business and on September 17, 2012 we completed the sale for approximately $60 million in cash.", + "We recorded a gain on disposal of approximately $32 million, net of income taxes.", + "We determined that our Intuit Websites business became a long-lived asset held for sale in the fourth quarter of fiscal 2012.", + "A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell.", + "Since the carrying value of Intuit Websites at July 31, 2012 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date." + ], + "question_id": "simplong-test-202", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in advertising expense in 2003 relative to 2002?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Guarantees We adopted FASB Interpretation No.45 (\u201cFIN 45\u201d), \u201cGuarantor\u2019s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others\u201d at the beginning of our fiscal 2003.", + "See \u201cRecent Accounting Pronouncements\u201d for further information regarding FIN 45.", + "The lease agreements for our three office buildings in San Jose, California provide for residual value guarantees.", + "These lease agreements were in place prior to December 31, 2002 and are disclosed in Note 14.", + "In the normal course of business, we provide indemnifications of varying scope to customers against claims of intellectual property infringement made by third parties arising from the use of our products.", + "Historically, costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations.", + "We have commitments to make certain milestone and/or retention payments typically entered into in conjunction with various acquisitions, for which we have made accruals in our consolidated financial statements.", + "In connection with our purchases of technology assets during fiscal 2003, we entered into employee retention agreements totaling $2.2 million.", + "We are required to make payments upon satisfaction of certain conditions in the agreements.", + "As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for certain events or occurrences while the officer or director is, or was serving, at our request in such capacity.", + "The indemnification period covers all pertinent events and occurrences during the officer\u2019s or director\u2019s lifetime.", + "The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have director and officer insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid.", + "We believe the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal.", + "As part of our limited partnership interests in Adobe Ventures, we have provided a general indemnification to Granite Ventures, an independent venture capital firm and sole general partner of Adobe Ventures, for certain events or occurrences while Granite Ventures is, or was serving, at our request in such capacity provided that Granite Ventures acts in good faith on behalf of the partnerships.", + "We are unable to develop an estimate of the maximum potential amount of future payments that could potentially result from any hypothetical future claim, but believe the risk of having to make any payments under this general indemnification to be remote.", + "We accrue for costs associated with future obligations which include costs for undetected bugs that are discovered only after the product is installed and used by customers.", + "The accrual remaining at the end of fiscal 2003 primarily relates to new releases of our Creative Suites products during the fourth quarter of fiscal 2003.", + "The table below summarizes the activity related to the accrual during fiscal 2003:", + "|Balance at November 29, 2002|Accruals|Payments|Balance at November 28, 2003|\n|$\u2014|$5,554|$-2,369|$3,185|\n", + "Advertising Expenses We expense all advertising costs as incurred and classify these costs under sales and marketing expense.", + "Advertising expenses for fiscal years 2003, 2002, and 2001 were $24.0 million, $26.7 million and $30.5 million, respectively.", + "Foreign Currency and Other Hedging Instruments Statement of Financial Accounting Standards No.133 (\u201cSFAS No.133\u201d), \u201cAccounting for Derivative Instruments and Hedging Activities,\u201d establishes accounting and reporting standards for derivative instruments and hedging activities and requires us to recognize these as either assets or liabilities on the balance sheet and measure them at fair value.", + "As described in Note 15, gains and losses resulting from", + "||Year Ended|\n||September 30, 2009|% Incr. (Decr.)|September 30, 2008|% Incr. (Decr.)|September 30, 2007|\n||($ in 000's)|\n|Revenues||||||\n|Securities Commissions and||||||\n|Investment Banking Fees|$ 7,162|-78%|$ 32,292|-23%|$ 41,879|\n|Investment Advisory Fees|1,355|-59%|3,326|30%|2,568|\n|Interest Income|1,456|-63%|3,987|-4%|4,163|\n|Trading Profits|4,531|341%|1,027|-80%|5,254|\n|Other|387|-60%|975|-82%|5,340|\n|Total Revenues|14,891|-64%|41,607|-30%|59,204|\n|Interest Expense|421|-66%|1,235|3%|1,197|\n|Net Revenues|14,470|-64%|40,372|-30%|58,007|\n|Non-Interest Expense||||||\n|Compensation Expense|14,381|-44%|25,860|-8%|28,010|\n|Other Expense|7,296|-60%|18,064|-23%|23,383|\n|Total Non-Interest Expense|21,677|-51%|43,924|-15%|51,393|\n|Income (Loss) Before Taxes||||||\n|and Minority Interest|-7,207|103%|-3,552|-154%|6,614|\n|Minority Interest in||||||\n|Pre-tax (Losses) Income Held by Others|-2,321|1,742%|-126|-104%|2,995|\n|Pre-tax (Loss) Earnings|$ -4,886|-43%|$ -3,426|-195%|$ 3,619|\n", + "Year ended September 30, 2009 Compared with the Year ended September 30, 2008 - Emerging Markets Emerging markets in fiscal 2009 consists of the results of our joint ventures in Latin America, including Argentina, Uruguay and Brazil.", + "The global economic slowdown and credit crisis continued to significantly impact emerging markets in all business lines.", + "The results in the emerging market segment declined to a $4.9 million loss from a $3.4 million loss in the prior year.", + "This decline was a result of a $24 million, or 80%, decline in commission revenues which was almost entirely offset by a $3.5 million increase in trading profits and a $22 million decline in non-interest expenses.", + "Our minority interest partners shared in $2.3 million of the fiscal 2009 loss before taxes.", + "In December, our joint venture in Turkey ceased operations and subsequently filed for protection under Turkish bankruptcy laws.", + "We have fully reserved for our equity interest in this joint venture.", + "Year ended September 30, 2008 Compared with the Year ended September 30, 2007 - Emerging Markets Emerging markets consists of the results of our joint ventures in Argentina, Uruguay, Brazil and Turkey.", + "The results in the emerging market segment declined from a $3.6 million profit in fiscal 2007 to a $3.4 million loss in fiscal 2008.", + "This decline was a result of a greater decline in revenues than an increase in expenses.", + "Expenses were impacted by our investment in Brazil.", + "The global economic slowdown and credit crisis significantly impacted emerging markets in all business lines.", + "Commission revenue declined 23% in fiscal 2008 as compared to the prior year as the economic slowdown and a series of political crises in Turkey and Argentina during 2008 severely undermined investors\u2019 confidence in these countries.", + "Trading profits declined due to losses taken in proprietary positions in Turkey.", + "The commission expense portion of compensation expense declined in proportion to the decline in commission revenue.", + "Other expenses in fiscal 2007 were unusually high due to the accrual of tax liabilities and the related legal expenses.", + "As of September 30, 2008, we were still awaiting the final outcome of the litigation in Turkey, and in light of the suspension of the entity\u2019s license, our ability to continue as a going concern in Turkey was uncertain.", + "We had fully reserved for our investment in the Turkish joint venture as of September 30, 2008 and, accordingly, fiscal 2008 pre-tax earnings did not include any net impact of our Turkish joint venture.", + "Index 64 Certain statistical disclosures by bank holding companies As a financial holding company, we are required to provide certain statistical disclosures by bank holding companies pursuant to the SEC\u2019s Industry Guide 3.", + "Certain of those disclosures are as follows for the fiscal year indicated:", + "||Year ended September 30,|\n||2016|2015|2014|\n|RJF return on average assets-1|1.8%|2.0%|2.1%|\n|RJF return on average equity-2|11.3%|11.5%|12.3%|\n|Average equity to average assets-3|17.1%|18.5%|18.1%|\n|Dividend payout ratio-4|21.9%|21.0%|19.3%|\n", + "(1) Computed as net income attributable to RJF for the year indicated, divided by average assets (the sum of total assets at the beginning and end of the year, divided by two).", + "(2) Computed by utilizing the net income attributable to RJF for the year indicated, divided by the average equity attributable to RJF for each respective fiscal year.", + "Average equity is computed by adding the total equity attributable to RJF as of each quarter-end date during the indicated fiscal year, plus the beginning of the year total, divided by five.", + "(3) Computed as average equity (the sum of total equity at the beginning and end of the fiscal year, divided by two), divided by average assets (the sum of total assets at the beginning and end of the fiscal year, divided by two).", + "(4) Computed as dividends declared per common share during the fiscal year as a percentage of diluted earnings per common share.", + "Refer to the RJ Bank section of this MD&A, various sections within Item 7A in this report and the Notes to Consolidated Financial Statements in this Form 10-K for the other required disclosures.", + "Liquidity and Capital Resources Liquidity is essential to our business.", + "The primary goal of our liquidity management activities is to ensure adequate funding to conduct our business over a range of market environments.", + "Senior management establishes our liquidity and capital policies.", + "These policies include senior management\u2019s review of short\u0002and long-term cash flow forecasts, review of monthly capital expenditures, the monitoring of the availability of alternative sources of financing, and the daily monitoring of liquidity in our significant subsidiaries.", + "Our decisions on the allocation of capital to our business units consider, among other factors, projected profitability and cash flow, risk and impact on future liquidity needs.", + "Our treasury department assists in evaluating, monitoring and controlling the impact that our business activities have on our financial condition, liquidity and capital structure as well as maintains our relationships with various lenders.", + "The objectives of these policies are to support the successful execution of our business strategies while ensuring ongoing and sufficient liquidity.", + "Liquidity is provided primarily through our business operations and financing activities.", + "Financing activities could include bank borrowings, repurchase agreement transactions or additional capital raising activities under our \u201cuniversal\u201d shelf registration statement.", + "Cash used in operating activities during the year ended September 30, 2016 was $518 million.", + "Successful operating results generated a $650 million increase in cash.", + "Increases in cash from operations include: ?", + "An increase in brokerage client payables had a $1.82 billion favorable impact on cash.", + "The increase largely results from two factors.", + "First, many clients reacted to uncertainties in the equity markets by increasing the cash balances in their brokerage accounts.", + "Second, our brokerage client account balances increased as a result of our fiscal year 2016 acquisitions of Alex.", + "Brown and 3Macs.", + "Cumulatively, these two factors result in the increase in brokerage client payables and a corresponding increase in assets segregated pursuant to regulations which is discussed below. ?", + "Stock loaned, net of stock borrowed, increased $153 million. ?", + "Accrued compensation, commissions and benefits increased $46 million as a result of the increased financial results we achieved in fiscal year 2016.", + "Offsetting these, decreases in cash used in operations resulted from: ?", + "A $1.95 billion increase in assets segregated pursuant to regulations and other segregated assets, primarily resulting from the increase in client cash balances described above.", + "RALPH LAUREN CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The weighted-average number of common shares outstanding used to calculate basic net income (loss) per common share is reconciled to shares used to calculate diluted net income (loss) per common share as follows:" + ], + "question_id": "simplong-test-203", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "brazilian paper sales represented what percentage of printing papers in 2005?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PRINTING PAPERS net sales for 2006 decreased 3% from both 2005 and 2004 due principally to the sale of the U. S. coated papers business in August 2006.", + "However, operating profits in 2006 were 43% higher than in 2005 and 33% higher than in 2004.", + "Compared with 2005, earnings improved for U. S. uncoated papers, market pulp and European Papers, but this was partially offset by earnings declines in Brazilian papers.", + "Benefits from higher average sales price realizations in the United States, Europe and Brazil ($284 million), improved manufacturing operations ($73 million), reduced lack-of-order downtime ($41 million), higher sales volumes in Europe ($23 million), and other items ($65 million) were partially offset by higher raw material and energy costs ($109 million), higher freight costs ($45 million) and an impairment charge to reduce the carrying value of the fixed assets at the Saillat, France mill ($128 million).", + "Compared with 2004, higher earnings in 2006 in the U. S. uncoated papers, market pulp and coated papers businesses were offset by lower earn\u0002ings in the European and Brazilian papers busi\u0002nesses.", + "The printing papers segment took 555,000 tons of downtime in 2006, including 150,000 tons of lack-of-order downtime to align production with customer demand.", + "This compared with 970,000 tons of total downtime in 2005, of which 520,000 tons related to lack-of-orders.", + "|In millions|2006|2005|2004|\n|Sales|$6,930|$7,170|$7,135|\n|Operating Profit|$677|$473|$508|\n", + "U. S. UNCOATED PAPERS net sales in 2006 were $3.5 billion, compared with $3.2 billion in 2005 and $3.3 billion in 2004.", + "Sales volumes increased in 2006 over 2005, particularly in cut-size paper and printing papers.", + "Average sales price realizations increased significantly, reflecting benefits from price increases announced in late 2005 and early 2006.", + "Lack-of-order downtime declined from 450,000 tons in 2005 to 40,000 tons in 2006, reflecting firm market demand and the impact of the permanent closure of three uncoated freesheet machines in 2005.", + "Operating earnings in 2006 more than doubled compared with both 2005 and 2004.", + "The benefits of improved aver\u0002age sales price realizations more than offset higher input costs for freight, wood and energy, which were all above 2005 levels.", + "Mill operations were favorable compared with 2005 due to current-year improve\u0002ments in machine performance, lower labor, chem\u0002ical and energy consumption costs, as well as approximately $30 million of charges incurred in 2005 for machine shutdowns.", + "U. S. COATED PAPERS net sales were $920 million in 2006, $1.6 billion in 2005 and $1.4 billion in 2004.", + "Operating profits in 2006 were 26% lower than in 2005.", + "A small operating loss was reported for the business in 2004.", + "This business was sold in the third quarter of 2006.", + "During the first two quarters of 2006, sales volumes were up slightly versus 2005.", + "Average sales price realizations for coated freesheet paper and coated groundwood paper were higher than in 2005, reflecting the impact of previously announced price increases.", + "However, input costs for energy, wood and other raw materials increased over 2005 levels.", + "Manufacturing operations were favorable due to higher machine efficiency and mill cost savings.", + "U. S. MARKET PULP sales in 2006 were $509 mil\u0002lion, compared with $526 million and $437 million in 2005 and 2004, respectively.", + "Sales volumes in 2006 were down from 2005 levels, primarily for paper and tissue pulp.", + "Average sales price realizations were higher in 2006, reflecting higher average prices for fluff pulp and bleached hardwood and softwood pulp.", + "Operating earnings increased 30% from 2005 and more than 100% from 2004 principally due to the impact of the higher average sales prices.", + "Input costs for wood and energy were higher in 2006 than in 2005.", + "Manufacturing operations were unfavorable, driven primarily by poor operations at our Riegel\u0002wood, North Carolina mill.", + "BRAZILIAN PAPER net sales for 2006 of $496 mil\u0002lion were higher than the $465 million in 2005 and the $417 million in 2004.", + "The sales increase in 2006 reflects higher sales volumes than in 2005, partic\u0002ularly for uncoated freesheet paper, and a strengthening of the Brazilian currency versus the U. S. dollar.", + "Average sales price realizations improved in 2006, primarily for uncoated freesheet paper and wood chips.", + "Despite higher net sales, operating profits for 2006 of $122 million were down from $134 million in 2005 and $166 million in 2004, due principally to incremental costs associated with an extended mill outage in Mogi Guacu to convert to an elemental-chlorine-free bleaching process, to rebuild the primary recovery boiler, and for other environmental upgrades.", + "EUROPEAN PAPERS net sales in 2006 were $1.5 bil\u0002lion, compared with $1.4 billion in 2005 and $1.5 bil\u0002lion in 2004.", + "Sales volumes in 2006 were higher than in 2005 at our Eastern European mills due to stron\u0002ger market demand.", + "Average sales price realizations increased in 2006 in both Eastern and Western European markets.", + "Operating earnings in 2006 rose 20% from 2005, but were 15% below 2004 levels.", + "The improvement in 2006 compared with 2005", + "A reconciliation of the amounts included in the computation of earnings per common share from continuing operations, and diluted earnings per common share from continuing operations is as fol\u0002lows:", + "|In millions, except per share amounts| 2006|2005|2004|\n|Earnings from continuing operations|$1,282|$684|$238|\n|Effect of dilutive securities|13|27|\u2013|\n| Earnings from continuing operations - assuming dilution|$1,295|$711|$238|\n|Average common shares outstanding|476.1|486.0|485.8|\n|Effect of dilutive securities||||\n|Restricted performance share plan|3.0|0.8|\u2013|\n|Stock options|0.2|2.9|2.6|\n|Contingently convertible debt|9.4|20.0|\u2013|\n| Average common shares outstanding - assuming dilution|488.7|509.7|488.4|\n| Earnings per common share from continuing operations|$2.69|$1.41|$0.49|\n| Diluted earnings per common share from continuing operations|$2.65|$1.40|$0.49|\n", + "Note: If an amount does not appear in the above table, the secu\u0002rity was antidilutive for the period presented.", + "NOTE 3 INDUSTRY SEGMENT INFORMATION Financial information by industry segment and geo\u0002graphic area for 2006, 2005 and 2004 is presented on pages 43 and 44.", + "NOTE 4 RECENT ACCOUNTING DEVELOPMENTS EMPLOYERS\u2019 ACCOUNTING FOR DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT PLANS In September 2006, the Financial Accounting Stan\u0002dards Board (FASB) issued SFAS No.158, \u201cEmployers\u2019 Accounting for Defined Benefit Pension and Other Postretirement Plans \u2013 an Amendment of FASB Statements No.87, 88, 106, and 132(R).", + "\u201d This statement requires a calendar year-end company with publicly traded equity securities that sponsors a postretirement benefit plan to fully recognize, as an asset or liability, the overfunded or underfunded status of its benefit plan(s) in its 2006 year-end bal\u0002ance sheet.", + "It also requires a company to measure its plan assets and benefit obligations as of its year-end balance sheet date beginning with fiscal years end\u0002ing after December 15, 2008.", + "The Company adopted the provisions of this standard as of December 31, 2006, recording an additional liability of $492 million and an after-tax charge to Other comprehensive income of $350 million for its defined benefit and postretirement benefit plans.", + "FAIR VALUE MEASUREMENTS In September 2006, the FASB also issued SFAS No.157, \u201cFair Value Measurements,\u201d which provides a single definition of fair value, together with a framework for measuring it, and requires additional disclosure about the use of fair value to measure assets and liabilities.", + "It also emphasizes that fair value is a market-based measurement, not an entity\u0002specific measurement, and sets out a fair value hier\u0002archy with the highest priority being quoted prices in active markets.", + "This statement is effective for finan\u0002cial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years, and is to be applied prospectively as of the beginning of the year in which it is initially applied.", + "The Company is currently evaluating the provisions of this statement.", + "ACCOUNTING FOR PLANNED MAJOR MAINTENANCE ACTIVITIES In September 2006, the FASB issued FASB Staff Position (FSP) No.", + "AUG AIR-1, \u201cAccounting for Planned Major Maintenance Activities,\u201d which per\u0002mits the application of three alternative methods of accounting for planned major maintenance activities: the direct expense, built-in-overhaul, and deferral methods.", + "The FSP is effective for the first fiscal year beginning after December 15, 2006. International Paper will adopt the direct expense method of accounting for these costs in 2007 with no impact on its annual consolidated financial statements.", + "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES In June 2006, the FASB issued FASB Interpretation No.48 (FIN 48), \u201cAccounting for Uncertainty in Income Taxes, an Interpretation of FASB Statement No.109.", + "\u201d FIN 48 prescribes a recognition threshold and measurement attribute for the financial state\u0002ment recognition and measurement of a tax position taken or expected to be taken in a tax return.", + "This interpretation also provides guidance on classi\u0002fication, interest and penalties, accounting in interim periods and transition, and significantly expands income tax disclosure requirements.", + "It applies to all tax positions accounted for in accordance with SFAS No.109 and is effective for fiscal years beginning after December 15, 2006. International Paper will apply the provisions of this interpretation beginning", + "CONSOLIDATED STATEMENT OF CHANGES IN EQUITY", + "|In millions|Common Stock Issued|Paid-in Capital|Retained Earnings|Accumulated Other Comprehensive Income (Loss)|Treasury Stock|Total International Paper Shareholders\u2019 Equity|Noncontrolling Interest|Total Equity|\n| BALANCE, JANUARY 1, 2007|$493|$6,735|$3,737|$-1,564|$1,438|$7,963|$213|$8,176|\n|Issuance of stock for various plans, net|1|20|\u2013|\u2013|-181|202|\u2013|202|\n|Repurchase of stock|\u2013|\u2013|\u2013|\u2013|1,224|-1,224|\u2013|-1,224|\n|Cash dividends \u2013 Common Stock|\u2013|\u2013|-436|\u2013|\u2013|-436|\u2013|-436|\n|Dividends paid to noncontrolling interests by subsidiary|\u2013|\u2013|\u2013|\u2013|\u2013|\u2013|-10|-10|\n|Repurchase of noncontrolling interests|\u2013|\u2013|\u2013|\u2013|\u2013|\u2013|-28|-28|\n|Noncontrolling interests of acquired entities|\u2013|\u2013|\u2013|\u2013|\u2013|\u2013|25|25|\n|Comprehensive income (loss):|||||||||\n|Net earnings|\u2013|\u2013|1,168|\u2013|\u2013|1,168|24|1,192|\n|Pension and postretirement divestitures, amortization of prior service costs and net loss:|||||||||\n|U.S. plans (less tax of $72)|\u2013|\u2013|\u2013|98|\u2013|98|\u2013|98|\n|Pension and postretirement liability adjustments:|||||||||\n|U.S. plans (less tax of $228)|\u2013|\u2013|\u2013|367|\u2013|367|\u2013|367|\n|Non-U.S. plans (less tax of $7)|\u2013|\u2013|\u2013|26|\u2013|26|\u2013|26|\n|Change in cumulative foreign currency translation adjustment|\u2013|\u2013|\u2013|591|\u2013|591|4|595|\n|Net gains on cash flow hedging derivatives:|||||||||\n|Net gain arising during the period (less tax of $5)|\u2013|\u2013|\u2013|33|\u2013|33|\u2013|33|\n|Less: Reclassification adjustment for gains included in net earnings (less tax of $3)|\u2013|\u2013|\u2013|-22|\u2013|-22|\u2013|-22|\n|Total comprehensive income||||||||2,289|\n|Adoption of FIN 48 (Note 2)|\u2013|\u2013|-94|\u2013|\u2013|-94|\u2013|-94|\n| BALANCE, DECEMBER 31, 2007|494|6,755|4,375|-471|2,481|8,672|228|8,900|\n|Issuance of stock for various plans, net|\u2013|-34|\u2013|\u2013|-143|109|\u2013|109|\n|Repurchase of stock|\u2013|\u2013|\u2013|\u2013|47|-47|\u2013|-47|\n|Retirement of treasury stock|-60|-876|-1,231|\u2013|-2,167|\u2013|\u2013|\u2013|\n|Cash dividends \u2013 Common Stock|\u2013|\u2013|-432|\u2013|\u2013|-432|\u2013|-432|\n|Dividends paid to noncontrolling interests by subsidiary|\u2013|\u2013|\u2013|\u2013|\u2013|\u2013|-10|-10|\n|Noncontrolling interests of acquired entities|\u2013|\u2013|\u2013|\u2013|\u2013|\u2013|9|9|\n|Comprehensive income (loss):|||||||||\n|Net earnings (loss)|\u2013|\u2013|-1,282|\u2013|\u2013|-1,282|3|-1,279|\n|Amortization of pension and postretirement prior service costs and net loss:|||||||||\n|U.S. plans (less tax of $58)|\u2013|\u2013|\u2013|82|\u2013|82|\u2013|82|\n|Pension and postretirement liability adjustments:|||||||||\n|U.S. plans (less tax of $1,128)|\u2013|\u2013|\u2013|-1,857|\u2013|-1,857|\u2013|-1,857|\n|Non-U.S. plans (less tax of $1)|\u2013|\u2013|\u2013|-26|\u2013|-26|\u2013|-26|\n|Change in cumulative foreign currency translation adjustment|\u2013|\u2013|\u2013|-889|\u2013|-889|2|-887|\n|Net losses on cash flow hedging derivatives:|||||||||\n|Net losses arising during the period (less tax of $61)|\u2013|\u2013|\u2013|-106|\u2013|-106|\u2013|-106|\n|Less: Reclassification adjustment for gains included in net earnings (less tax of $16)|\u2013|\u2013|\u2013|-55|\u2013|-55|\u2013|-55|\n|Total comprehensive income||||||||-4,128|\n", + "The accompanying notes are an integral part of these financial statements." + ], + "question_id": "simplong-test-204", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Net income of the Fourth Quarter in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The tax rate for fiscal 2019 was below the U. S. statutory tax rate of 21% partially due to lower statutory tax rates applicable to our operations in the foreign jurisdictions from which we earn income and tax incentives such as the foreign derived intangible income deduction and research and development tax credits.", + "These items are partially offset by the global intangible low-tax income (GILTI) tax.", + "The tax rate for f fiscal 2019 includes a $17.2 million tax benefit from a voluntary accounting policy change in the statutory statements of a foreign f subsidiary, an $11.2 million tax benefit from an increase in tax credits upon filing our fiscal 2018 federal income tax return and excess tax benefits from stock-based compensation payments of $28.7 million.", + "Similarly, our tax rate for fiscal 2018 was below our then blended U. S. federal statutory tax rate of 23.4%, primarily due to lower statutory tax rates applicable to our operations in the foreign jurisdictions in which we earn income and $25.6 million of tax benefit related to the release of uncertain tax positions due to laapses in statute of limitations.", + "In addition, our effective tax rate for fiscal f 2018 includes a provisional estimate for f a discrete tax benefit of $637.0 million from remeasuring our U. S. deferred tax assets and liaabilities at the lower 21.0% U. S. federal statutory tax rate and a provisional estimate of $691.0 million for the discrete tax charge from the Tax Legislation\u2019s one-time transition tax associated with our undistributed foreign earnings, which is comprised of a $755.0 million transitional tax less a deferred tax liability of $64.0 million that was recorded in prior years and excess tax benefits from stock-based compensation payments of $26.2 million.", + "Non-U.", + "S. jurisdictions accounted for approximately 75.9% of our total revenues for both fiscal 2019 and fiscal 2018.", + "This revenue generated outside of the U. S. results in a material portion of our pretax income being taxed outside the U. S. In fiscal 2019, this was primarily in Ireland and Singapore, at tax rates ranging from 12.5% to 17% and in fiscal 2018, this was primarily in Bermuda, Ireland and Singapore, at tax rates ranging from 0 to 33.3%.", + "The impact on our provision for income taxes on income earned in fforeign jurisdictions being taxed at rates different than the U. S. federal statutory rate was a benefit of approximately $242.9 million and a fforeign effective tax rate of approximately 21.1% for fiscal 2019 as compared to a benefit of approximately $420.8 million and a fforeign effective tax rate of approximately 5.2% for fiscal 2018.", + "Our foreign effective tax rates for both periods are inclusive of certain non-deductible expenses which can result in tax rates higher than the applicable statutory tax rates.", + "In addition, our effective income tax rate can be impacted each year by amounts for discrete factors or events and acquisition-related accounting adjustments.", + "See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K for further discussion.", + "Net Income", + "|||||Change||\n||Fiscal Year|||2019 over 2018|2018 over 2017|\n||2019|2018 -1|2017 -1|$ Change|% Change|$ Change|% Change||\n|Net income|$1,363,011|$1,506,980|$805,379|$-143,969|-10%|$701,601|87%||\n|Net income, as a % of revenue|22.8%|24.2%|15.4%||||||\n|Diluted EPS|$3.65|$4.00|$2.29|$-0.35|-9%|$1.71|75%||\n", + "(1) Balances have been restated to reflect the adoption of ASU 2014-09.", + "See Note 2a, Principles of Consolidation, in the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K.", + "The decrease in net income in fiscal 2019 as compared to fiscal 2018 was a result of a $189.0 million decrease in operating income, partially offset by a $25.6 million decrease in provision for income taxes and a $19.4 million decrease in nonoperating expense.", + "The increase in net income in fiscal 2018 as compared to fiscal 2017 was a result of a $736.8 million increase in operating income, partially offset by a $19.0 million increase in provision for income taxes and a $16.3 increase in nonoperating expense.", + "The impact of inflation and foreign currency exchange rate movement on our results of operations during the past three fiscal years has not been significant.", + "Table XII Selected Quarterly Financial Data", + "||2016 Quarters|2015 Quarters|\n|(In millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Income statement|||||||||\n|Net interest income|$10,292|$10,201|$10,118|$10,485|$9,686|$9,900|$9,517|$9,855|\n|Noninterest income|9,698|11,434|11,168|10,305|9,896|11,092|11,523|11,496|\n|Total revenue, net of interest expense|19,990|21,635|21,286|20,790|19,582|20,992|21,040|21,351|\n|Provision for credit losses|774|850|976|997|810|806|780|765|\n|Noninterest expense|13,161|13,481|13,493|14,816|14,010|13,939|13,959|15,826|\n|Income before income taxes|6,055|7,304|6,817|4,977|4,762|6,247|6,301|4,760|\n|Income tax expense|1,359|2,349|2,034|1,505|1,478|1,628|1,736|1,392|\n|Net income|4,696|4,955|4,783|3,472|3,284|4,619|4,565|3,368|\n|Net income applicable to common shareholders|4,335|4,452|4,422|3,015|2,954|4,178|4,235|2,986|\n|Average common shares issued and outstanding|10,170|10,250|10,328|10,370|10,399|10,444|10,488|10,519|\n|Average diluted common shares issued and outstanding|10,959|11,000|11,059|11,100|11,153|11,197|11,238|11,267|\n|Performance ratios|||||||||\n|Return on average assets|0.85%|0.90%|0.88%|0.64%|0.60%|0.84%|0.85%|0.64%|\n|Four quarter trailing return on average assets-1|0.82|0.76|0.74|0.73|0.73|0.74|0.52|0.42|\n|Return on average common shareholders\u2019 equity|7.04|7.27|7.40|5.11|4.99|7.16|7.43|5.37|\n|Return on average tangible common shareholders\u2019 equity-2|9.92|10.28|10.54|7.33|7.19|10.40|10.85|7.91|\n|Return on average shareholders' equity|6.91|7.33|7.25|5.36|5.07|7.22|7.29|5.55|\n|Return on average tangible shareholders\u2019 equity-2|9.38|9.98|9.93|7.40|7.04|10.08|10.24|7.87|\n|Total ending equity to total ending assets|12.20|12.30|12.23|12.03|11.95|11.88|11.70|11.68|\n|Total average equity to total average assets|12.24|12.28|12.13|11.98|11.79|11.70|11.67|11.50|\n|Dividend payout|17.68|17.32|11.73|17.13|17.57|12.48|12.36|17.62|\n|Per common share data|||||||||\n|Earnings|$0.43|$0.43|$0.43|$0.29|$0.28|$0.40|$0.40|$0.28|\n|Diluted earnings|0.40|0.41|0.41|0.28|0.27|0.38|0.38|0.27|\n|Dividends paid|0.075|0.075|0.05|0.05|0.05|0.05|0.05|0.05|\n|Book value|24.04|24.19|23.71|23.14|22.53|22.40|21.89|21.67|\n|Tangible book value-2|16.95|17.14|16.71|16.19|15.62|15.50|15.00|14.80|\n|Market price per share of common stock|||||||||\n|Closing|$22.10|$15.65|$13.27|$13.52|$16.83|$15.58|$17.02|$15.39|\n|High closing|23.16|16.19|15.11|16.43|17.95|18.45|17.67|17.90|\n|Low closing|15.63|12.74|12.18|11.16|15.38|15.26|15.41|15.15|\n|Market capitalization|$222,163|$158,438|$135,577|$139,427|$174,700|$162,457|$178,231|$161,909|\n", + "(1) Calculated as total net income for four consecutive quarters divided by annualized average assets for four consecutive quarters.", + "(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "For more information on these ratios, see Supplemental Financial Data on page 26, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "(3) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 55.", + "(4) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(5) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio Credit Risk Management \u2013 Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 63 and corresponding Table 30, and Commercial Portfolio Credit Risk Management \u2013 Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 69 and corresponding Table 37.", + "(6) Asset quality metrics as of December 31, 2016 include $243 million of non-U.", + "S. credit card allowance for loan and lease losses and $9.2 billion of non-U.", + "S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "(7) Primarily includes amounts allocated to the U. S. credit card and unsecured consumer lending portfolios in Consumer Banking, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "(8) Net charge-offs exclude $70 million, $83 million, $82 million and $105 million of write-offs in the PCI loan portfolio in the fourth, third, second and first quarters of 2016, respectively, and $82 million, $148 million, $290 million and $288 million in the fourth, third, second and first quarters of 2015, respectively.", + "For more information on PCI write-offs, see Consumer Portfolio Credit Risk Management \u2013 Purchased Credit-impaired Loan Portfolio on page 61.", + "(9) Risk-based capital ratios are reported under Basel 3 Advanced - Transition beginning in the fourth quarter of 2015.", + "Prior to fourth quarter of 2015, we were required to report risk-based capital ratios under Basel 3 Standardized - Transition only.", + "For additional information, see Capital Management on page 44.", + "FUTURE MINIMUM LEASE OBLIGATIONS", + "||As of February 28, 2010|\n|(In thousands)|Capital Leases -1|Operating Lease Commitments-1|\n|Fiscal 2011|$3,608|$82,832|\n|Fiscal 2012|3,608|82,788|\n|Fiscal 2013|3,608|82,688|\n|Fiscal 2014|3,643|83,026|\n|Fiscal 2015|3,884|83,041|\n|Fiscal 2016 and thereafter|37,056|557,452|\n|Total minimum lease payments|55,407|$971,827|\n|Less amounts representing interest|-27,319||\n|Present value of net minimum capital lease payments|$28,088||\n", + "(1) Excludes taxes, insurance and other costs payable directly by us.", + "These costs vary from year to year and are incurred in the ordinary course of business.", + "We did not enter into any sale-leaseback transactions in fiscal 2010 or fiscal 2008.", + "We completed sale-leaseback transactions involving two superstores valued at approximately $31.3 million in fiscal 2009.", + "All sale-leaseback transactions are structured at competitive rates.", + "Gains or losses on sale-leaseback transactions are recorded as deferred rent and amortized over the lease term.", + "Other than occupancy, we do not have continuing involvement under the sale-leaseback transactions.", + "In conjunction with certain sale-leaseback transactions, we must meet financial covenants relating to minimum tangible net worth and minimum coverage of rent expense.", + "We were in compliance with all such covenants as of February 28, 2010.15.", + "SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (A) Goodwill and Other Intangibles Other assets included goodwill and other intangibles with a carrying value of $10.1 million as of February 28, 2010, and February 28, 2009.", + "No impairment of goodwill or intangible assets resulted from our annual impairment tests in fiscal 2010, fiscal 2009 or fiscal 2008.", + "(B) Restricted Investments Restricted investments, included in other assets, consisted of $30.7 million in money market securities as of February 28, 2010, and $28.5 million in money market securities and $2.2 million in other debt securities as of February 28, 2009.", + "For fiscal 2010, proceeds from the sales of other debt securities totaled $2.2 million.", + "For fiscal 2009, there were no proceeds from the sales of other debt securities.", + "Due to the short-term nature and/or variable rates associated with these financial instruments, the carrying value approximates fair value.", + "(C) Other Accrued Expenses As of February 28, 2010 and 2009, accrued expenses and other current liabilities included accrued compensation and benefits of $62.1 million and $24.3 million, respectively, and loss reserves for general liability and workers\u2019 compensation insurance of $23.9 million and $22.2 million, respectively.", + "(D) Advertising Expense SG&A expenses included advertising expense of $75.1 million in fiscal 2010, $101.5 million in fiscal 2009 and $108.8 million in fiscal 2008.", + "Advertising expenses were 1.0% of net sales and operating revenues for fiscal 2010, 1.5% for fiscal 2009 and 1.3% for fiscal year 2008.16.", + "CONTINGENT LIABILITIES (A) Litigation On April 2, 2008, Mr. John Fowler filed a putative class action lawsuit against CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. in the Superior Court of California, County of Los Angeles.", + "Subsequently, two other lawsuits, Leena Areso et al.", + "v. CarMax Auto Superstores California, LLC and Justin Weaver v. CarMax Auto Superstores California, LLC, were consolidated as part of the Fowler case.", + "The allegations", + "FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES Selected cash flows for the years ended December 31, 2014, 2013, and 2012 are as follows (in millions):" + ], + "question_id": "simplong-test-205", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentual growth of the global products' atoi concerning the total atoi for all segments during the years 2014-2015?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "spread over the LIBOR swap curve, the reduction to net income would be approximately $235 million, net of DAC and DSIC amortization and income taxes, based on December 31, 2008 credit spreads.", + "The nonperformance risk for our derivatives is managed and mitigated primarily through the use of master netting arrangements and collateral arrangements.", + "As of December 31, 2008, any deterioration in our derivative counterparties\u2019 credit would not materially impact our financial statements.", + "Liquidity and Capital Resources Overview We maintained substantial liquidity during 2008.", + "At December 31, 2008, we had $6.2 billion in cash and cash equivalents compared to $3.8 billion at December 31, 2007.", + "Approximately $1.6 billion of the increase in cash and cash equivalents was from increases in collateral received from derivative counterparties as our living benefits hedge portfolio gained in value.", + "Excluding the collateral balances, cash and cash equivalents were $4.4 billion and $3.6 billion at December 31, 2008 and 2007, respectively.", + "We have additional liquidity available through an unsecured revolving credit facility for $750 million that expires in September 2010.", + "Under the terms of the underlying credit agreement, we can increase this facility to $1.0 billion.", + "Available borrowings under this facility are reduced by any outstanding letters of credit.", + "We have had no borrowings under this credit facility and had $2 million of outstanding letters of credit at December 31, 2008.", + "We believe cash flows from operating activities, available cash balances and our availability of revolver borrowings will be sufficient to fund our operating liquidity needs.", + "The following table summarizes the ratings for Ameriprise Financial, Inc. (\u2018\u2018Ameriprise Financial\u2019\u2019) and certain of its subsidiaries as of the date of this filing:", + "| | A.M. Best Company| Standard & Poor's Rating Services| Moody's Investors Service| Fitch Ratings Ltd.|\n| Claims Paying Ratings|||||\n|RiverSource Life|A+|AA-|Aa3|AA-|\n|IDS Property Casualty Insurance Company|A|N/R|N/R|N/R|\n| Credit Ratings|||||\n|Ameriprise Financial, Inc.|a-|A|A3|A-|\n", + "On January 29, 2009, Standard & Poor\u2019s Ratings Services (\u2018\u2018S&P\u2019\u2019) and Moody\u2019s Investors Service (\u2018\u2018Moody\u2019s\u2019\u2019) affirmed the ratings of Ameriprise Financial, Inc. and RiverSource Life citing excellent capitalization and solid financial flexibility.", + "At the same time, both S&P and Moody\u2019s revised their outlook on Ameriprise Financial, Inc. and RiverSource Life from stable to negative citing diminished earnings power resulting from the challenging equity and credit markets.", + "On July 10, 2008, S&P raised its counterparty credit rating on Ameriprise Financial, Inc. to \u2018A\u2019 from \u2018A-\u2019 and indicated its ratings outlook on our company as stable, citing our strong balance sheet and strong cash coverage of our stable life insurance and asset management operations, supported by an innovative financial advisory distribution channel.", + "These positive factors are somewhat offset by sensitivity to equity-market and debt-market volatility and competitive pressure in our key segments.", + "At the same time, S&P affirmed its \u2018AA-\u2019 counterparty credit and financial strength ratings on our life insurance subsidiaries, RiverSource Life and RiverSource Life of NY.", + "Our capital transactions in 2008 and 2007 primarily related to the repurchase of our common stock, dividends paid to our shareholders and the repurchase of debt.", + "Dividends from Subsidiaries Ameriprise Financial is primarily a parent holding company for the operations carried out by our wholly owned subsidiaries.", + "Because of our holding company structure, our ability to meet our cash requirements, including the payment of dividends on our common stock, substantially depends upon the receipt of dividends or return of capital from our subsidiaries, particularly our life insurance subsidiary, RiverSource Life, our face-amount certificate subsidiary, Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019), our retail introducing broker-dealer subsidiary, Ameriprise Financial Services, Inc. (\u2018\u2018AFSI\u2019\u2019), our clearing broker\u0002dealer subsidiary, American Enterprise Investment Services, Inc. (\u2018\u2018AEIS\u2019\u2019), our auto and home insurance subsidiary, IDS Property Casualty Insurance Company (\u2018\u2018IDS Property Casualty\u2019\u2019), doing business as Ameriprise Auto & Home Insurance, Threadneedle, RiverSource Service Corporation and our investment advisory company, RiverSource Investments.", + "The", + "home business reflecting the impact of growth in exposures from an 11% increase in policies in force, an increase in catastrophe losses reflecting the growth in exposures and the extremely severe winter and spring weather during 2014, and adverse development in the 2013 and prior accident years auto liability coverage observed during the first quarter of 2014 resulting in a $30 million increase to prior accident year loss reserves.", + "Later in 2014, further adverse loss development was observed primarily in the 2014 auto book of business which resulted in a $60 million increase to loss reserves for estimated losses including IBNR.", + "Catastrophe losses were $66 million for the year ended December 31, 2014 compared to $42 million for the prior year.", + "Corporate & Other The following table presents the results of operations of our Corporate & Other segment on an operating basis:", + "||Years Ended December 31,|||\n||2014|2013|Change|\n||(in millions)||\n|Revenues|||||\n|Distribution fees|$1|$1|$\u2014|\u2014%|\n|Net investment income (loss)|-6|8|-14|NM|\n|Other revenues|9|6|3|50|\n|Total revenues|4|15|-11|-73|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|4|15|-11|-73|\n|Expenses|||||\n|Distribution expenses|1|1|\u2014|\u2014|\n|Interest and debt expense|21|33|-12|-36|\n|General and administrative expense|212|210|2|1|\n|Total expenses|234|244|-10|-4|\n|Operating loss|$-230|$-229|$-1|\u2014%|\n", + "NM Not Meaningful.", + "Our Corporate & Other segment pretax operating loss excludes net realized investment gains or losses and the impact of consolidating CIEs.", + "Our Corporate & Other segment pretax operating loss was $230 million for the year ended December 31, 2014 compared to $229 million for the prior year.", + "Net investment income (loss) was a loss of $6 million for the year ended December 31, 2014 compared to income of $8 million for the prior year due to a $13 million increase in losses associated with affordable housing partnerships.", + "Interest and debt expense decreased $12 million, or 36%, to $21 million for the year ended December 31, 2014 compared to $33 million for the prior year primarily due to $19 million in costs in 2013 related to the early redemption of our senior notes due 2015, partially offset by expenses in 2014 related to the early redemption of our senior notes due 2039.", + "General and administrative expense for the year ended December 31, 2014 included a provision for potential resolution of a regulatory matter regarding certain historical events and processes at one of our ongoing lines of business, which was partially offset by lower investment spending compared to the prior year.", + "Fair Value Measurements We report certain assets and liabilities at fair value; specifically, separate account assets, derivatives, embedded derivatives, properties held by our consolidated property funds, and most investments and cash equivalents.", + "Fair value assumes the exchange of assets or liabilities occurs in orderly transactions and is not the result of a forced liquidation or distressed sale.", + "We include actual market prices, or observable inputs, in our fair value measurements to the extent available.", + "Broker quotes are obtained when quotes from pricing services are not available.", + "We validate prices obtained from third parties through a variety of means such as: price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of vendors.", + "See Note 14 to the Consolidated Financial Statements for additional information on our fair value measurements.", + "Fair Value of Liabilities and Nonperformance Risk Companies are required to measure the fair value of liabilities at the price that would be received to transfer the liability to a market participant (an exit price).", + "Since there is not a market for our obligations of our variable annuity riders and indexed universal life insurance, we consider the assumptions participants in a hypothetical market would make to reflect an exit price.", + "As a result, we adjust the valuation of variable annuity riders and indexed universal life insurance by updating certain contractholder assumptions, adding explicit margins to provide for profit, risk and expenses, and adjusting the rates used to discount expected cash flows to reflect a current market estimate of our nonperformance risk.", + "The", + "20.", + "Regulatory Requirements Restrictions on the transfer of funds exist under regulatory requirements applicable to certain of the Company\u2019s subsidiaries.", + "At December 31, 2016, the aggregate amount of unrestricted net assets was approximately $1.4 billion.", + "The National Association of Insurance Commissioners (\u2018\u2018NAIC\u2019\u2019) defines Risk-Based Capital (\u2018\u2018RBC\u2019\u2019) requirements for insurance companies.", + "The RBC requirements are used by the NAIC and state insurance regulators to identify companies that merit regulatory actions designed to protect policyholders.", + "These requirements apply to both the Company\u2019s life and property casualty insurance companies.", + "In addition, IDS Property Casualty is subject to the statutory surplus requirements of the State of Wisconsin.", + "The Company\u2019s life and property casualty companies each met their respective minimum RBC requirements.", + "The Company\u2019s life and property casualty insurance companies are required to prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the insurance departments of their respective states of domicile, which vary materially from GAAP.", + "Prescribed statutory accounting practices include publications of the NAIC, as well as state laws, regulations and general administrative rules.", + "The more significant differences from GAAP include charging policy acquisition costs to expense as incurred, establishing annuity and insurance reserves using different actuarial methods and assumptions, valuing investments on a different basis and excluding certain assets from the balance sheet by charging them directly to surplus, such as a portion of the net deferred income tax assets.", + "State insurance statutes contain limitations as to the amount of dividends or distributions that insurers may make without providing prior notification to state regulators.", + "For RiverSource Life, dividends or distributions in excess of unassigned surplus, as determined in accordance with accounting practices prescribed by the State of Minnesota, require advance notice to the Minnesota Department of Commerce, RiverSource Life\u2019s primary regulator, and are subject to potential disapproval.", + "RiverSource Life\u2019s statutory unassigned surplus aggregated $275 million and $954 million as of December 31, 2016 and 2015, respectively.", + "In addition, dividends or distributions, whose fair market value, together with that of other dividends or distributions made within the preceding 12 months, exceeds the greater of the previous year\u2019s statutory net gain from operations or 10% of the previous year-end statutory capital and surplus are referred to as \u2018\u2018extraordinary dividends.", + "\u2019\u2019 Extraordinary dividends also require advance notice to the Minnesota Department of Commerce, and are subject to potential disapproval.", + "Statutory capital and surplus for RiverSource Life was $3.0 billion and $3.7 billion at December 31, 2016 and 2015, respectively.", + "Statutory capital and surplus for IDS Property Casualty was $800 million and $684 million at December 31, 2016 and 2015, respectively.", + "Statutory net gain from operations and net income (loss) are summarized as follows:", + "||Years Ended December 31,|\n|2016|2015|2014|\n|(in millions)|\n|RiverSource Life||||\n|Statutory net gain from operations-1|$834|$1,033|$1,412|\n|Statutory net income-1|322|633|1,154|\n|IDS Property Casualty||||\n|Statutory net income (loss)|-8|-44|-25|\n", + "(1) Statutory net gain (loss) from operations and statutory net income (loss) are significantly impacted by changes in reserves for variable annuity guaranteed benefits, however, these impacts are substantially offset by unrealized gains (losses) on derivatives which are not included in statutory income but are recorded directly to surplus.", + "Government debt securities of $4 million and $5 million at December 31, 2016 and 2015, respectively, held by the Company\u2019s life insurance subsidiaries were on deposit with various states as required by law.", + "Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019) is registered as an investment company under the Investment Company Act of 1940 (the \u2018\u20181940 Act\u2019\u2019).", + "ACC markets and sells investment certificates to clients.", + "ACC is subject to various capital requirements under the 1940 Act, laws of the State of Minnesota and understandings with the Securities and Exchange Commission (\u2018\u2018SEC\u2019\u2019) and the Minnesota Department of Commerce.", + "The terms of the investment certificates issued by ACC and the provisions of the 1940 Act also require the maintenance by ACC of qualified assets.", + "Under the provisions of its certificates and the 1940 Act, ACC was required to have qualified assets (as that term is defined in Section 28(b) of the 1940 Act) in the amount of $5.9 billion and $4.8 billion at December 31, 2016 and 2015, respectively.", + "ACC had qualified assets of $6.3 billion and $5.1 billion at December 31, 2016 and 2015, respectively.", + "Ameriprise Financial and ACC entered into a Capital Support Agreement on March 2, 2009, pursuant to which Ameriprise Financial agrees to commit such capital to ACC as is necessary to satisfy applicable minimum capital requirements.", + "Effective April 30, 2014, this agreement was amended to revise the maximum commitment to $50 million.", + "For the years", + "Management anticipates that the effective tax rate in 2017 will be between 32% and 35%.", + "However, business portfolio actions, changes in the current economic environment, tax legislation or rate changes, currency fluctuations, ability to realize deferred tax assets, movements in stock price impacting tax benefits or deficiencies on stock-based payment awards, and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate.", + "Segment Information Arconic\u2019s operations consist of three worldwide reportable segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions (see below).", + "Segment performance under Arconic\u2019s management reporting system is evaluated based on a number of factors; however, the primary measure of performance is the after-tax operating income (ATOI) of each segment.", + "Certain items such as the impact of LIFO inventory accounting; metal price lag (the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment\u2014generally when the price of metal increases, metal lag is favorable and when the price of metal decreases, metal lag is unfavorable); interest expense; noncontrolling interests; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; and other items, including intersegment profit eliminations, differences between tax rates applicable to the segments and the consolidated effective tax rate, and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment ATOI.", + "ATOI for all reportable segments totaled $1,087 in 2016, $986 in 2015, and $983 in 2014.", + "The following information provides shipment, sales and ATOI data for each reportable segment, as well as certain realized price data, for each of the three years in the period ended December 31, 2016.", + "See Note O to the Consolidated Financial Statements in Part II Item 8 of this Form 10-K for additional information.", + "Beginning in the first quarter of 2017, Arconic\u2019s segment reporting metric will change from ATOI to Adjusted EBITDA.", + "Global Rolled Products(1)", + "||2016|2015|2014|\n|Third-party aluminum shipments (kmt)|1,339|1,375|1,598|\n|Average realized price per metric ton of aluminum-2|$3,633|$3,820|$3,970|\n|Third-party sales|$4,864|$5,253|$6,344|\n|Intersegment sales|118|125|185|\n|Total sales|$4,982|$5,378|$6,529|\n|ATOI|$269|$225|$224|\n", + "Excludes the Warrick, IN rolling operations and the equity interest in the rolling mill at the joint venture in Saudi Arabia, both of which were previously part of the Global Rolled Products segment but became part of Alcoa Corporation effective November 1, 2016.", + "(2) Generally, average realized price per metric ton of aluminum includes two elements: a) the price of metal (the underlying base metal component based on quoted prices from the LME, plus a regional premium which represents the incremental price over the base LME component that is associated with physical delivery of metal to a particular region), 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\u2019s customers with limited exception (e. g. , fixed-priced contracts, certain regional premiums).", + "The Global Rolled Products segment produces aluminum sheet and plate for a variety of end markets.", + "Sheet and plate is sold directly to customers and through distributors related to the aerospace, automotive, commercial transportation, packaging, 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" + ], + "question_id": "simplong-test-206", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If the amount of Equity securities develops with the same growth rate in 2009 Ended December 31, what will it reach in 2010 Ended December 31? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC. the asset.", + "Projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money.", + "The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for certain assets for which the market and income approaches could not be applied due to the nature of the asset.", + "The cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation.", + "The fair value of US Airways\u2019 Dividend Miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at December 9, 2013.", + "The weighted average equivalent ticket value contemplates differing classes of service, domestic and international itineraries and the carrier providing the award travel.", + "Pro-forma Impact of the Merger American\u2019s unaudited pro-forma results presented below include the effects of the Merger as if it had been consummated as of January 1, 2012.", + "The pro- forma results include the depreciation and amortization associated with the acquired tangible and intangible assets, lease and debt fair value adjustments, the elimination of any deferred gains or losses, adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense, among others.", + "In addition, the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with US Airways\u2019 pilots that became effective upon closing of the Merger, as well as the elimination of American\u2019s reorganization items, net and Merger transition costs.", + "However, the pro-forma results do not include any anticipated synergies or other expected benefits of the Merger.", + "Accordingly, the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 1, 2012.", + "||December 31, 2013 (In millions)|\n|Revenue|$40,782|\n|Net Income|2,707|\n", + "5.", + "Basis of Presentation and Summary of Significant Accounting Policies (a) Basis of Presentation On December 30, 2015, US Airways merged with and into American, which is reflected in American\u2019s consolidated financial statements as though the transaction had occurred on December 9, 2013, when a subsidiary of AMR merged with and into US Airways Group.", + "Thus, the full years of 2015 and 2014 and the period from December 9, 2013 to December 31, 2013 are comprised of the consolidated financial data of American and US Airways.", + "For the periods prior to December 9, 2013, the financial data reflects the results of American only.", + "For financial reporting purposes, the transaction constituted a transfer of assets between entities under common control and was accounted for in a manner similar to the pooling of interests method of accounting.", + "Under this method, the carrying amount of net assets recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity and no other assets or liabilities are recognized.", + "The preparation of financial statements in accordance with accounting principles generally accepted in the United States (GAAP) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements.", + "Actual results could differ from those estimates.", + "The most significant areas of judgment relate to passenger revenue recognition, impairment of goodwill, impairment of long-lived and", + "The following tables set forth the income yield and investment income, excluding realized investment gains (losses) and non-hedge accounting derivative results, for each major investment category of our Japanese operations\u2019 general account for the periods indicated.", + "||Year Ended December 31, 2009|Year Ended December 31, 2008|\n||Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|2.88%|$1,519|2.95%|$1,314|\n|Trading account assets supporting insurance liabilities|1.97|22|2.10|23|\n|Equity securities|3.13|58|2.91|73|\n|Commercial mortgage and other loans|4.86|167|4.76|144|\n|Policy loans|3.91|63|3.92|50|\n|Short-term investments and cash equivalents|0.62|11|2.26|21|\n|Other investments|6.27|129|8.77|139|\n|Gross investment income before investment expenses|3.05|1,969|3.21|1,764|\n|Investment expenses|-0.16|-108|-0.19|-107|\n|Total investment income|2.89%|$1,861|3.02%|$1,657|\n", + "(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity.", + "Yields for fixed maturities are based on amortized cost.", + "Yields for equity securities are based on cost.", + "Yields for fixed maturities and short-term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity.", + "Yields exclude investment income on assets other than those included in invested assets.", + "Prior periods yields are presented on a basis consistent with the current period presentation.", + "The decrease in yield on the Japanese insurance portfolio for 2009 compared to 2008 is primarily attributable to lower fixed maturity reinvestment rates, including the reinvestment of proceeds realized from certain capital actions and a lower short-term interest rate environment both in the U. S. and Japan.", + "The U. S. dollar denominated fixed maturities that are not hedged to yen through third party derivative contracts provide a yield that is substantially higher than the yield on comparable Japanese fixed maturities.", + "The average value of U. S. dollar denominated fixed maturities that are not hedged to yen through third party derivative contracts for 2009 and 2008 was approximately $10.1 billion and $9.9 billion, respectively, based on amortized cost.", + "For additional information regarding U. S. dollar investments held in our Japanese insurance operations see, \u201c\u2014Results of Operations for Financial Services Businesses by Segment\u2014 International Insurance and Investments Division.", + "\u201d Fixed Maturity Securities Investment Mix Our fixed maturity securities portfolio consists of publicly-traded and privately-placed debt securities across an array of industry categories.", + "The fixed maturity securities relating to our international insurance operations are primarily comprised of foreign government securities.", + "We manage our public portfolio to a risk profile directed or overseen by the Asset Liability Management and Risk Management groups and, in the case of our international insurance portfolios, to a profile that also reflects the local market environment.", + "The investment objectives for fixed maturity securities are consistent with those described above.", + "The total return that we earn on the portfolio will be reflected both as investment income and also as realized gains or losses on investments.", + "We use our private placement and asset-backed portfolios to enhance the diversification and yield of our overall fixed maturity portfolio.", + "Within our domestic portfolios, we maintain a private fixed income portfolio that is larger than the industry average as a percentage of total fixed income holdings.", + "Over the last several years, our investment staff has directly originated more than half of our annual private placement originations.", + "Our origination capability offers the opportunity to lead transactions and gives us the opportunity for better terms, including covenants and call protection, and to take advantage of innovative deal structures.", + "(1) Represents net shares issued from treasury pursuant to the Company\u2019s stock-based compensation programs.", + "In the event of a liquidation, dissolution or winding-up of the Company, holders of Common Stock would be entitled to receive a proportionate share of the net assets of the Company that remain after paying all liabilities and the liquidation preferences of any preferred stock.", + "Common Stock Held in Treasury Common Stock held in treasury is accounted for at average cost.", + "Gains resulting from the reissuance of \u201cCommon Stock held in treasury\u201d are credited to \u201cAdditional paid-in capital.", + "\u201d Losses resulting from the reissuance of \u201cCommon Stock held in treasury\u201d are charged first to \u201cAdditional paid-in capital\u201d to the extent the Company has previously recorded gains on treasury share transactions, then to \u201cRetained earnings.", + "\u201d", + "||Other PostretirementBenefits (in millions)|\n|One percentage point increase||\n|Increase in total service and interest costs|$7|\n|Increase in postretirement benefit obligation|153|\n|One percentage point decrease||\n|Decrease in total service and interest costs|$5|\n|Decrease in postretirement benefit obligation|120|\n", + "Plan Assets The investment goal of the domestic pension plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds and other investments.", + "The cash requirements of the pension obligation, which include a traditional formula principally representing payments to annuitants and a cash balance formula that allows lump sum payments and annuity payments, are designed to be met by the bonds and short-term investments in the portfolio.", + "The pension plan risk management practices include guidelines for asset concentration, credit rating and liquidity.", + "The pension plan does not invest in leveraged derivatives.", + "Derivatives such as futures contracts are used to reduce transaction costs and change asset concentration, while interest rate swaps and futures are used to adjust duration.", + "The investment goal of the domestic postretirement plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds, and other investments, while meeting the cash requirements for the postretirement obligation that includes a medical benefit including prescription drugs, a dental benefit and a life benefit.", + "The postretirement plan risk management practices include guidelines for asset concentration, credit rating, liquidity and tax efficiency.", + "The postretirement plan does not invest in leveraged derivatives.", + "Derivatives such as futures contracts are used to reduce transaction costs and change asset concentration, while interest rate swaps and futures are used to adjust duration.", + "The plan fiduciaries for the Company\u2019s pension and postretirement plans have developed guidelines for asset allocations reflecting a percentage of total assets by asset class, which are reviewed on an annual basis.", + "Asset allocation targets as of December 31, 2015 are as follows:", + "||Pension|Postretirement|\n||Minimum|Maximum|Minimum|Maximum|\n|Asset Category|||||\n|U.S. Equities|2%|15%|25%|58%|\n|International Equities|2%|16%|2%|22%|\n|Fixed Maturities|50%|69%|3%|52%|\n|Short-term Investments|0%|15%|0%|44%|\n|Real Estate|2%|15%|0%|0%|\n|Other|0%|16%|0%|0%|\n", + "To implement the investment strategy, plan assets are invested in funds that primarily invest in securities that correspond to one of the asset categories under the investment guidelines.", + "However, at any point in time, some of the assets in a fund may be of a different nature than the specified asset category", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements 14.", + "SHORT-TERM AND LONG-TERM DEBT Short-term Debt The table below presents the Company\u2019s short-term debt at December 31, for the years indicated as follows:" + ], + "question_id": "simplong-test-207", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Net sales of 2014, and Notes Payable of 2008 Carrying Amounts ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents Mac The following table presents Mac net sales and unit sales information for 2014, 2013 and 2012 (dollars in millions and units in thousands):", + "|| 2014| Change| 2013|Change| 2012|\n|Net sales|$24,079|12%|$21,483|-7%|$23,221|\n|Percentage of total net sales|13%||13%||15%|\n|Unit sales|18,906|16%|16,341|-10%|18,158|\n", + "The year-over-year growth in Mac net sales and unit sales for 2014 was primarily driven by increased sales of MacBook Air, MacBook Pro and Mac Pro.", + "Mac net sales and unit sales increased in all of the Company\u2019s operating segments.", + "Mac ASPs decreased during 2014 compared to 2013 primarily due to price reductions on certain Mac models and a shift in mix towards Mac portable systems.", + "Mac net sales and unit sales for 2013 were down or relatively flat in all of the Company\u2019s operating segments.", + "Mac ASPs increased slightly partially offsetting the impact of lower unit sales on net sales.", + "The decline in Mac unit sales and net sales reflected the overall weakness in the market for personal computers.", + "iTunes, Software and Services The following table presents net sales information of iTunes, Software and Services for 2014, 2013 and 2012 (dollars in millions):", + "|| 2014| Change| 2013| Change| 2012|\n|iTunes, Software and Services|$18,063|13%|$16,051|25%|$12,890|\n|Percentage of total net sales|10%||9%||8%|\n", + "The increase in net sales of iTunes, Software and Services in 2014 compared to 2013 was primarily due to growth in net sales from the iTunes Store, AppleCare and licensing.", + "The iTunes Store generated a total of $10.2 billion in net sales during 2014 compared to $9.3 billion during 2013.", + "Growth in net sales from the iTunes Store was driven by increases in revenue from app sales reflecting continued growth in the installed base of iOS devices and the expanded offerings of iOS Apps and related in-App purchases.", + "This was partially offset by a decline in sales of digital music.", + "The increase in net sales of iTunes, Software and Services in 2013 compared to 2012 was primarily due to growth in net sales from the iTunes Store, AppleCare and licensing.", + "The iTunes Store generated a total of $9.3 billion in net sales during 2013, a 24% increase from 2012.", + "Growth in the iTunes Store, which includes the App Store, the Mac App Store and the iBooks Store, reflected continued growth in the installed base of iOS devices, expanded offerings of iOS Apps and related in-App purchases, and expanded offerings of iTunes digital content.", + "Segment Operating Performance The Company manages its business primarily on a geographic basis.", + "Accordingly, the Company determined its reportable operating segments, which are generally based on the nature and location of its customers, to be the Americas, Europe, Greater China, Japan, Rest of Asia Pacific and Retail.", + "The Americas segment includes both North and South America.", + "The Europe segment includes European countries, as well as India, the Middle East and Africa.", + "The Greater China segment includes China, Hong Kong and Taiwan.", + "The Rest of Asia Pacific segment includes Australia and Asian countries, other than those countries included in the Company\u2019s other operating segments.", + "The results of the Company\u2019s geographic segments do not include results of the Retail segment.", + "Each operating segment provides similar hardware and software products and similar services.", + "Further information regarding the Company\u2019s operating segments may be found in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 11, \u201cSegment Information and Geographic Data.", + "\u201d", + "KIMCO REALTY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED Noncontrolling interests also includes 138,015 convertible units issued during 2006, by the Company, which are valued at approximately $5.3 million, including a fair market value adjustment of $0.3 million, related to an interest acquired in an office building located in Albany, NY.", + "These units are redeemable at the option of the holder after one year for cash or at the option of the Company for the Company\u2019s common stock at a ratio of 1:1.", + "The holder is entitled to a distribution equal to the dividend rate of the Company\u2019s common stock.", + "The Company is restricted from disposing of these assets, other than through a tax free transaction, until January 2017.", + "The following table presents the change in the redemption value of the Redeemable noncontrolling interests for the year ended December 31, 2009 and December 31, 2008 (amounts in thousands):", + "||2009|2008|\n|Balance at January 1,|$115,853|$173,592|\n|Unit redemptions|-14,889|-55,110|\n|Fair market value amortization|-571|-2,524|\n|Other|-89|-105|\n|Balance at December 31,|$100,304|$115,853|\n", + "16.", + "Fair Value Disclosure of Financial Instruments: All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management\u2019s estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values except those listed below, for which fair values are reflected.", + "The valuation method used to estimate fair value for fixed-rate and variable-rate debt and noncontrolling interests relating to mandatorily redeemable noncontrolling interests associated with finite-lived subsidiaries of the Company is based on discounted cash flow analyses, with assumptions that include credit spreads, loan amounts and debt maturities.", + "The fair values for marketable securities are based on published or securities dealers\u2019 estimated market values.", + "Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition.", + "The following are financial instruments for which the Company\u2019s estimate of fair value differs from the carrying amounts (in thousands):", + "||December 31, 2009 Carrying Amounts|Estimated Fair Value|2008 Carrying Amounts|Estimated Fair Value|\n|Marketable Securities|$209,593|$204,006|$258,174|$218,786|\n|Notes Payable|$3,000,303|$3,099,139|$3,440,819|$2,766,187|\n|Mortgages Payable|$1,388,259|$1,377,224|$847,491|$838,503|\n|Construction Payable|$45,821|$44,725|$268,337|$262,485|\n|Mandatorily Redeemable Noncontrolling Interests(termination dates ranging from 2019 \u2013 2027)|$2,768|$5,256|$2,895|$5,444|\n", + "The Company has certain financial instruments that must be measured under the FASB\u2019s Fair Value Measurements and Disclosures guidance, including: available for sale securities, convertible notes and derivatives.", + "The Company currently does not have non-financial assets and non-financial liabilities that are required to be measured at fair value on a recurring basis.", + "As a basis for considering market participant assumptions in fair value measurements, the FASB\u2019s Fair Value Measurements and Disclosures guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity\u2019s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).", + "Net interest on the stock loan/borrow business decreased 38% due to decreased rates and balances despite a focus on hard-to-locate securities.", + "Other interest revenue and expense include earnings on corporate cash and inventory balances, and interest expense on overnight borrowings, our senior notes issued in August, 2009 and the mortgage on our headquarters facility.", + "Results of Operations - Private Client Group The following table presents consolidated financial information for our PCG segment for the years indicated:", + "||Year Ended|\n||September 30, 2009|% Incr. (Decr.)|September 30, 2008|% Incr. (Decr.)|September 30, 2007|\n||($ in 000's)|\n|Revenues:||||||\n|Securities Commissions and Fees|$ 1,262,810|-18%|$ 1,532,290|5%|$ 1,462,323|\n|Interest|65,589|-72%|233,801|-28%|326,601|\n|Financial Service Fees|125,038|-2%|127,304|16%|110,056|\n|Other|104,025|-2%|106,380|20%|88,502|\n|Total Revenues|1,557,462|-22%|1,999,775|1%|1,987,482|\n|Interest Expense|14,891|-89%|141,474|-32%|208,537|\n|Net Revenues|1,542,570|-17%|1,858,301|4%|1,778,945|\n|Non-Interest Expenses:||||||\n|Sales Commissions|929,202|-19%|1,144,727|6%|1,082,457|\n|Admin & Incentive Comp and Benefit Costs|279,666|-4%|289,937|15%|251,684|\n|Communications and Information Processing|58,607|-2%|59,753|7%|55,822|\n|Occupancy and Equipment|79,072|8%|73,253|18%|61,961|\n|Business Development|55,488|-15%|64,992|12%|57,816|\n|Clearance and Other|55,951|18%|47,369|1%|46,983|\n|Total Non-Interest Expenses|1,457,986|-13%|1,680,031|8%|1,556,723|\n|Income Before Taxes and Minority Interest|84,584|-53%|178,270|-20%|222,222|\n|Minority Interest|-289||124||-148|\n|Pre-tax Income|$ 84,873|-52%|$ 178,146|-20%|$ 222,370|\n|Margin on Net Revenues|5.5%||9.6%||12.5%|\n", + "Year ended September 30, 2009 Compared with the Year ended September 30, 2008 - Private Client Group PCG revenues were 22% below the prior year, reflecting the impact of the extremely challenging economic and market conditions.", + "Commission revenue decreased $269 million, or 18%, from the prior year, with the majority of that decrease experienced by our domestic independent contractor operation.", + "Commissions in RJ&A PCG declined only $45 million, or 9%, due to the recruitment of 219 employee financial advisors in fiscal 2009 (for a net increase of 94) and 184 in fiscal 2008 (for a net increase of 114).", + "It generally takes newly recruited financial advisors up to two years to reach their previous production levels.", + "Average production per employee financial advisor decreased to $417,000 in fiscal 2009, down 19% from the $515,000 attained in fiscal 2008.", + "The recruitment of above-average producers did not overcome the negative impact that the steep market decline had on our private clients\u2019 investing activities.", + "RJFS and RJFSA recruited 559 independent contractor financial advisors in fiscal 2009 (for a net increase of 129).", + "Independent contractor financial advisor average production decreased from $330,000 in fiscal 2008 to $273,000 in fiscal 2009, impacted, like RJ&A, by the challenging economic and market conditions." + ], + "question_id": "simplong-test-208", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the average revenue from discontinued operations in 2013 and 2011 , in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ECHOSTAR COMMUNICATIONS CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-34 closing price of the class A common stock on the last business day of each calendar quarter in which such shares of class A common stock are deemed sold to an employee under the ESPP.", + "The ESPP shall terminate upon the first to occur of (i) October 1, 2007 or (ii) the date on which the ESPP is terminated by the Board of Directors.", + "During 2000, 2001 and 2002 employees purchased approximately 58,000; 80,000 and 108,000 shares of class A common stock through the ESPP, respectively.401(k) Employee Savings Plan EchoStar sponsors a 401(k) Employee Savings Plan (the \u201c401(k) Plan\u201d) for eligible employees.", + "Voluntary employee contributions to the 401(k) Plan may be matched 50% by EchoStar, subject to a maximum annual contribution by EchoStar of $1,000 per employee.", + "Matching 401(k) contributions totaled approximately $1.6 million, $2.1 million and $2.4 million during the years ended December 31, 2000, 2001 and 2002, respectively.", + "EchoStar also may make an annual discretionary contribution to the plan with approval by EchoStar\u2019s Board of Directors, subject to the maximum deductible limit provided by the Internal Revenue Code of 1986, as amended.", + "These contributions may be made in cash or in EchoStar stock.", + "Forfeitures of unvested participant balances which are retained by the 401(k) Plan may be used to fund matching and discretionary contributions.", + "Expense recognized relating to discretionary contributions was approximately $7 million, $225 thousand and $17 million during the years ended December 31, 2000, 2001 and 2002, respectively.9.", + "Commitments and Contingencies Leases Future minimum lease payments under noncancelable operating leases as of December 31, 2002, are as follows (in thousands):", + "|2003|$17,274|\n|2004|14,424|\n|2005|11,285|\n|2006|7,698|\n|2007|3,668|\n|Thereafter|1,650|\n|Total minimum lease payments|55,999|\n", + "Total rent expense for operating leases approximated $9 million, $14 million and $16 million in 2000, 2001 and 2002, respectively.", + "Purchase Commitments As of December 31, 2002, EchoStar\u2019s purchase commitments totaled approximately $359 million.", + "The majority of these commitments relate to EchoStar receiver systems and related components.", + "All of the purchases related to these commitments are expected to be made during 2003.", + "EchoStar expects to finance these purchases from existing unrestricted cash balances and future cash flows generated from operations.", + "Patents and Intellectual Property Many entities, including some of EchoStar\u2019s competitors, now have and may in the future obtain patents and other intellectual property rights that cover or affect products or services directly or indirectly related to those that EchoStar offers.", + "EchoStar may not be aware of all patents and other intellectual property rights that its products may potentially infringe.", + "Damages in patent infringement cases can include a tripling of actual damages in certain cases.", + "Further, EchoStar cannot estimate the extent to which it may be required in the future to obtain licenses with respect to", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 52 Tivo litigation expense.", + "We recorded $361 million of \u201cTivo litigation expense\u201d during the year ended December 31, 2009 for supplemental damages, contempt sanctions and interest.", + "See Note 14 in the Notes to the Consolidated Financial Statements in Item 15 of this Annual Report on Form 10-K for further discussion.", + "Depreciation and amortization.", + "\u201cDepreciation and amortization\u201d expense totaled $940 million during the year ended December 31, 2009, a $60 million or 6.0% decrease compared to the same period in 2008.", + "The decrease in \u201cDepreciation and amortization\u201d expense was primarily due to the declines in depreciation expense related to set-top boxes used in our lease programs and the abandonment of a software development project during 2008 that was designed to support our IT systems.", + "The decrease related to set-top-boxes was primarily attributable to capitalization of a higher mix of new advanced equipment in 2009 compared to the same period in 2008, which has a longer estimated useful life.", + "In addition, the satellite depreciation expense declined due to the retirements of certain satellites from commercial service, almost entirely offset by depreciation expense associated with satellites placed in service in 2008.", + "Interest income.", + "\u201cInterest income\u201d totaled $30 million during the year ended December 31, 2009, a decrease of $21 million or 41.4% compared to the same period in 2008.", + "This decrease principally resulted from lower percentage returns earned on our cash and marketable investment securities, partially offset by higher average cash and marketable investment securities balances during the year ended December 31, 2009.", + "Interest expense, net of amounts capitalized.", + "\u201cInterest expense, net of amounts capitalized\u201d totaled $388 million during the year ended December 31, 2009, an increase of $19 million or 5.0% compared to the same period in 2008.", + "This change primarily resulted from an increase in interest expense related to the issuance of debt during 2009 and 2008 and the Ciel II capital lease, partially offset by a decrease in interest expense associated with 2008 debt redemptions.", + "Other, net.", + "\u201cOther, net\u201d expense totaled $16 million during the year ended December 31, 2009 compared to $169 million in 2008, a decrease of $153 million.", + "This decrease primarily resulted from $178 million less in impairment charges on marketable and other investment securities, partially offset by $33 million less in net gains on the sale and exchanges of investments in 2009 compared to 2008.", + "Earnings before interest, taxes, depreciation and amortization.", + "EBITDA was $2.311 billion during the year ended December 31, 2009, a decrease of $576 million or 20.0% compared to the same period in 2008.", + "EBITDA for the year ended December 31, 2009 was negatively impacted by the $361 million \u201cTivo litigation expense.", + "\u201d The following table reconciles EBITDA to the accompanying financial statements.", + "|| For the Years Ended December 31,|\n|| 2009| 2008|\n||(In thousands)|\n|EBITDA|$2,311,398|$2,887,697|\n|Less:|||\n|Interest expense, net|358,391|318,661|\n|Income tax provision (benefit), net|377,429|665,859|\n|Depreciation and amortization|940,033|1,000,230|\n|Net income (loss) attributable to DISH Network common shareholders|$635,545|$902,947|\n", + "EBITDA is not a measure determined in accordance with accounting principles generally accepted in the United States, or GAAP, and should not be considered a substitute for operating income, net income or any other measure determined in accordance with GAAP.", + "EBITDA is used as a measurement of operating efficiency and overall financial performance and we believe it to be a helpful measure for those evaluating companies in the pay-TV industry.", + "Conceptually, EBITDA measures the amount of income generated each period that could be used to service debt, pay taxes and fund capital expenditures.", + "EBITDA should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.", + "Income tax (provision) benefit, net.", + "Our income tax provision was $377 million during the year ended December 31, 2009, a decrease of $288 million compared to the same period in 2008.", + "The decrease in the provision was primarily related to the decrease in \u201cIncome (loss) before income taxes\u201d and a decrease in our effective tax rate.", + "DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-28 9.", + "Acquisitions DBSD North America and TerreStar Transactions On March 2, 2012, the FCC approved the transfer of 40 MHz of AWS-4 wireless spectrum licenses held by DBSD North America and TerreStar to us.", + "On March 9, 2012, we completed the DBSD Transaction and the TerreStar Transaction, pursuant to which we acquired, among other things, certain satellite assets and wireless spectrum licenses held by DBSD North America and TerreStar.", + "In addition, during the fourth quarter 2011, we and Sprint entered into a mutual release and settlement agreement (the \u201cSprint Settlement Agreement\u201d) pursuant to which all issues then being disputed relating to the DBSD Transaction and the TerreStar Transaction were resolved between us and Sprint, including, but not limited to, issues relating to costs allegedly incurred by Sprint to relocate users from the spectrum then licensed to DBSD North America and TerreStar.", + "The total consideration to acquire the DBSD North America and TerreStar assets was approximately $2.860 billion.", + "This amount includes $1.364 billion for the DBSD Transaction, $1.382 billion for the TerreStar Transaction, and the net payment of $114 million to Sprint pursuant to the Sprint Settlement Agreement.", + "See Note 16 for further information.", + "As a result of these acquisitions, we recognized the acquired assets and assumed liabilities based on our estimates of fair value at their acquisition date, including $102 million in an uncertain tax position in \u201cLong-term deferred revenue, distribution and carriage payments and other long-term liabilities\u201d on our Consolidated Balance Sheets.", + "Subsequently, in the third quarter 2013, this uncertain tax position was resolved and $102 million was reversed and recorded as a decrease in \u201cIncome tax (provision) benefit, net\u201d on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2013.10.", + "Discontinued Operations As of December 31, 2013, Blockbuster had ceased all material operations.", + "Accordingly, our Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income (Loss) and Consolidated Statements of Cash Flows have been recast to present Blockbuster as discontinued operations for all periods presented and the amounts presented in the Notes to our Consolidated Financial Statements relate only to our continuing operations, unless otherwise noted.", + "During the years ended December 31, 2013, 2012 and 2011, the revenue from our discontinued operations was $503 million, $1.085 billion and $974 million, respectively.", + "\u201cIncome (loss) from discontinued operations, before income taxes\u201d for the same periods was a loss of $54 million, $62 million and $3 million, respectively.", + "In addition, \u201cIncome (loss) from discontinued operations, net of tax\u201d for the same periods was a loss of $47 million, $37 million and $7 million, respectively.", + "As of December 31, 2013, the net assets from our discontinued operations consisted of the following:", + "||As of December 31, 2013 (In thousands)|\n|Current assets from discontinued operations|$68,239|\n|Noncurrent assets from discontinued operations|9,965|\n|Current liabilities from discontinued operations|-49,471|\n|Long-term liabilities from discontinued operations|-19,804|\n|Net assets from discontinued operations|$8,929|\n", + "PART II Item 5.", + "MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Price of and Dividends on the Registrant\u2019s Common Equity and Related Stockholder Matters Market Information.", + "Our Class A common stock is quoted on the Nasdaq Global Select Market under the symbol \u201cDISH.", + "\u201d The high and low closing sale prices of our Class A common stock during 2014 and 2013 on the Nasdaq Global Select Market (as reported by Nasdaq) are set forth below.", + "|2014|High|Low|\n|First Quarter|$62.42|$54.10|\n|Second Quarter|65.64|56.23|\n|Third Quarter|66.71|61.87|\n|Fourth Quarter|79.41|57.96|\n|2013|High|Low|\n|First Quarter|$38.02|$34.19|\n|Second Quarter|42.52|36.24|\n|Third Quarter|48.09|41.66|\n|Fourth Quarter|57.92|45.68|\n", + "As of February 13, 2015, there were approximately 8,208 holders of record of our Class A common stock, not including stockholders who beneficially own Class A common stock held in nominee or street name.", + "As of February 10, 2015, 213,247,004 of the 238,435,208 outstanding shares of our Class B common stock were beneficially held by Charles W. Ergen, our Chairman, and the remaining 25,188,204 were held in trusts established by Mr. Ergen for the benefit of his family.", + "There is currently no trading market for our Class B common stock.", + "Dividends.", + "On December 28, 2012, we paid a cash dividend of $1.00 per share, or approximately $453 million, on our outstanding Class A and Class B common stock to stockholders of record at the close of business on December 14, 2012.", + "While we currently do not intend to declare additional dividends on our common stock, we may elect to do so from time to time.", + "Payment of any future dividends will depend upon our earnings and capital requirements, restrictions in our debt facilities, and other factors the Board of Directors considers appropriate.", + "We currently intend to retain our earnings, if any, to support future growth and expansion, although we may repurchase shares of our common stock from time to time.", + "See further discussion under \u201cItem 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Liquidity and Capital Resources\u201d in this Annual Report on Form 10-K. Securities Authorized for Issuance Under Equity Compensation Plans.", + "See \u201cItem 12.", + "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\u201d in this Annual Report on Form 10-K.", + "Item 6.", + "SELECTED FINANCIAL DATA The selected consolidated financial data as of and for each of the five years ended December 31, 2018 have been derived from our consolidated financial statements.", + "On February 28, 2017, we and EchoStar and certain of our respective subsidiaries completed the Share Exchange.", + "As the Share Exchange was a transaction between entities that are under common control accounting rules require that our Consolidated Financial Statements include the results of the Transferred Businesses for all periods presented, including periods prior to the completion of the Share Exchange.", + "We initially recorded the Transferred Businesses at EchoStar\u2019s historical cost basis.", + "The difference between the historical cost basis of the Transferred Businesses and the net carrying value of the Tracking Stock was recorded in \u201cAdditional paid-in capital\u201d on our Consolidated Balance Sheets.", + "The results of the Transferred Businesses were prepared from separate records maintained by EchoStar for the periods prior to March 1, 2017, and may not necessarily be indicative of the conditions that would have existed, or the results of operations, if the Transferred Businesses had been operated on a combined basis with our subsidiaries.", + "The selected consolidated financial data includes the results of the Transferred Businesses as described above for all periods presented, including periods prior to the completion of the Share Exchange.", + "See Note 2 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for further information.", + "Certain prior year amounts have been reclassified to conform to the current year presentation.", + "See further information under \u201cItem 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Explanation of Key Metrics and Other Items\u201d in this Annual Report on Form 10-K.", + "This data should be read in conjunction with our consolidated financial statements and related notes thereto for the three years ended December 31, 2018, and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d included elsewhere in this Annual Report on Form 10-K.", + "||As of December 31,|\n|Balance Sheet Data|2018|2017|2016|2015|2014|\n||(In thousands)|\n|Cash, cash equivalents and current marketable investment securities|$2,068,817|$1,980,673|$5,360,119|$1,611,894|$9,236,888|\n|Total assets|30,587,012|29,773,766|27,914,292|22,665,292|21,756,516|\n|Long-term debt and capital lease obligations (including current portion)|15,152,777|16,202,965|16,483,639|13,763,018|14,430,009|\n|Total stockholders\u2019 equity (deficit)|8,594,189|6,937,906|4,611,323|2,694,161|1,925,243|\n", + "For the Years Ended December 31,", + "||For the Years Ended December 31,|\n|Statements of Operations Data|2018|2017|2016|2015|2014|\n||(In thousands, except per share amounts)|\n|Total revenue|$13,621,302|$14,391,375|$15,212,302|$15,225,493|$14,819,289|\n|Total costs and expenses|11,473,681|12,823,610|12,893,041|13,797,121|12,915,803|\n|Operating income (loss)|$2,147,621|$1,567,765|$2,319,261|$1,428,372|$1,903,486|\n|Net income (loss) attributable to DISH Network|$1,575,091|$2,098,689|$1,497,939|$802,374|$996,648|\n|Basic net income (loss) per share attributable to DISH Network|$3.37|$4.50|$3.22|$1.73|$2.17|\n|Diluted net income (loss) per share attributable to DISH Network|$3.00|$4.07|$3.15|$1.73|$2.15|\n" + ], + "question_id": "simplong-test-209", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in share-based compensation expense between 2012 and 2013?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except per Share Amounts) common stock.", + "The Series B Preferred Stock may be converted at our option if the closing price of our common stock multiplied by the conversion rate in effect at that time equals or exceeds 130% of the liquidation preference for 20 trading days during any consecutive 30 trading day period.", + "Holders of the Series B Preferred Stock will be entitled to an adjustment to the conversion rate if they convert their shares in connection with a fundamental change satisfying certain specified conditions.", + "The Series B Preferred Stock is junior to all of our existing and future debt obligations and senior to our common stock with respect to payments of dividends and rights upon liquidation, winding up or dissolution, to the extent of the liquidation preference.", + "The number of shares outstanding, conversion rates and corresponding conversion prices and conversion shares for our Series B Preferred Stock are listed below.", + "||December 31,|\n||2012|2011|2010|\n|Shares outstanding (actual number)|221,474|221,474|221,474|\n|Conversion rate per share|76.2197|74.4500|73.1904|\n|Conversion price|$13.12|$13.43|$13.66|\n|Conversion shares|16.9|16.5|16.2|\n", + "During 2012 and 2011, the conversion rate per share for our Series B Preferred Stock was adjusted as a result of the cumulative effect of certain cash dividends declared and paid on our common stock during the year, which resulted in a corresponding adjustment of the conversion price and conversion shares.", + "In 2010, we launched a tender offer and purchased 303,526 shares (actual number) of our Series B Preferred Stock for cash for an aggregate purchase price of $267.6.", + "The aggregate purchase price was calculated as the number of shares tendered multiplied by the purchase price of $869.86 per share plus unpaid dividends of $1.9, which were prorated for the period the tendered shares were outstanding, and transaction costs directly associated with the repurchase.", + "The carrying value of the tendered shares was $293.3 and was determined based on the number of shares tendered multiplied by the liquidation preference, less the pro-rata amount of issuance costs associated with the original issuance of the preferred stock.", + "A benefit of $25.7, representing the excess carrying value of the tendered shares over consideration from the repurchase, was recorded as an adjustment to additional paid-in capital.", + "Additionally, the pro-rata amount of issuance costs of $10.2 was recorded as an adjustment to additional paid-in capital.", + "The terms of our Series B Preferred Stock do not permit us to pay dividends on our common stock unless all accumulated and unpaid dividends on the Series B Preferred Stock have been or contemporaneously are declared and paid, or provision for the payment thereof has been made.", + "We declared annual dividends of $52.50 per share, or $11.6, $11.6 and $15.6, on our Series B Preferred Stock during 2012, 2011 and 2010, respectively.", + "Regular quarterly dividends, if declared, are $13.125 per share.", + "Dividends on each share of Series B Preferred Stock are payable quarterly in cash or, if certain conditions are met, in common stock, at our option on January 15, April 15, July 15 and October 15, or the next business date if these dates fall on the weekend or a holiday, of each year.", + "Dividends on our Series B Preferred Stock are cumulative from the date of issuance and are payable on each payment date to the extent that we have assets that are legally available to pay dividends and our Board of Directors, or an authorized committee of our Board, declares a dividend payable.", + "The terms of the Series B Preferred Stock include an embedded derivative instrument, the fair value of which as of December 31, 2012 and 2011 was negligible.", + "The Series B Preferred Stock is not considered a security with participation rights in earnings available to IPG common stockholders due to the contingent nature of the conversion feature of these securities.", + "was estimated on the date of the grant using a Monte-Carlo simulation method.", + "The assumptions related to this grant included expected volatility of 84.81 percent, expected dividend yield of 1.00 percent, and an expected term of 4.0 years based on the vesting term of the market condition.", + "The risk-free rate is consistent with the assumption used to value stock options.", + "For all other grants that vest solely upon a service condition, the fair value of the awards is estimated based upon the fair value of the underlying shares on the date of the grant.", + "Restricted stock award and unit activity for 2011, 2010 and 2009 is summarized as follows:", + "||Numberof Shares| Weighted-Average GrantDate Fair Value||\n|Non-vested at December 31, 2008||4,123,911|$27.67|\n|Granted||3,100,415|2.87|\n|Vested||-804,229|16.39|\n|Forfeited||-455,503|16.47|\n|Non-vested at December 31, 2009||5,964,594|$17.15|\n|Granted||1,166,968|6.96|\n|Vested||-936,412|34.00|\n|Forfeited||-1,264,706|15.97|\n|Non-vested at December 31, 2010||4,930,444|$12.13|\n|Granted||2,705,834|6.66|\n|Vested||-1,206,373|23.36|\n|Forfeited||-149,545|12.93|\n|Non-vested at December 31, 2011||6,280,360|$7.60|\n", + "As of December 31, 2011, the pre-tax amount of non-vested stock options and restricted stock awards and units not yet recognized was $31 million, which will be recognized over a weighted-average period of 1.4 years.", + "No share-based compensation costs were capitalized during the years ended December 31, 2011, 2010 and 2009.", + "Regions issued approximately 867 thousand, 799 thousand, and 638 thousand of cash-settled restricted stock units during 2011, 2010, and 2009, respectively.", + "NOTE 17.", + "EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Regions has a defined-benefit pension plan (the \u201cpension plan\u201d) covering only certain employees as the pension plan is closed to new entrants.", + "Benefits under the pension plan are based on years of service and the employee\u2019s highest five years of compensation during the last ten years of employment.", + "Regions\u2019 funding policy is to contribute annually at least the amount required by Internal Revenue Service minimum funding standards.", + "Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.", + "The Company also sponsors a supplemental executive retirement program (the \u201cSERP\u201d), which is a non-qualified plan that provides certain senior executive officers defined benefits in relation to their compensation.", + "Regions also sponsors defined-benefit postretirement health care plans that cover certain retired employees.", + "For these certain employees retiring before normal retirement age, the Company currently pays a portion of the costs of certain health care benefits until the retired employee becomes eligible for Medicare.", + "Certain retirees, participating in plans of acquired entities, are offered a Medicare supplemental benefit.", + "The plan is contributory and contains other cost-sharing features such as deductibles and co-payments.", + "Retiree health care benefits, as well as similar benefits for active employees, are provided through a self-insured program in which Company and retiree costs are based on the amount of benefits paid.", + "The Company\u2019s policy is to fund the Company\u2019s share of the cost of health care benefits in amounts determined at the discretion of management.", + "Postretirement life insurance is also provided to a grandfathered group of employees and retirees.", + "Actuarially determined pension expense is charged to current operations using the projected unit credit method.", + "All defined-benefit plans are referred to as \u201cthe plans\u201d throughout the remainder of this footnote.", + "Mortgage Income Mortgage income is generated through the origination and servicing of residential mortgage loans for long-term investors and sales of residential mortgage loans in the secondary market.", + "The decrease in mortgage income during 2018 compared to 2017 was due to lower production, tighter margins and a reduction in the valuation of mortgage servicing rights and related hedges.", + "The decreases were partially offset by increases in mortgage servicing income as a result of purchasing the rights to service a total of approximately $6.1 billion in residential mortgage loans during 2018.", + "See Note 7 \"Servicing of Financial Assets\" to the consolidated financial statements for more information.", + "Investment Services Fee Income Investment services fee income represents income earned through investment advisory services, the primary revenue streams of which include sales of annuity and brokerage products.", + "The increase in investment services fees during 2018 compared to 2017 was driven primarily by improved productivity as the result of hiring additional financial advisors.", + "Bank-owned Life Insurance Bank-owned life insurance decreased in 2018 compared to 2017 primarily due to reduced claims benefits throughout the year, as well as valuation declines in the fourth quarter of 2018 related to market volatility.", + "Securities Gains, net Net securities gains primarily result from the Company's asset/liability management process and the sale of certain securities held for employee benefit purposes.", + "See Note 4 \"Securities\" to the consolidated financial statements for more information.", + "Market Value Adjustments on Employee Benefit Assets Market value adjustments on employee benefit assets, both defined benefit and other, are the reflection of market value variations related to assets held for certain employee benefits.", + "The adjustments reported as employee benefit assets - other are offset in salaries and benefits expense.", + "Other Miscellaneous Income Other miscellaneous income includes net revenue from affordable housing, valuation adjustments to equity investments, fees from safe deposit boxes, check fees and other miscellaneous income.", + "Net revenue from affordable housing includes actual gains and losses resulting from the sale of affordable housing investments, cash distributions from the investments and any related impairment charges.", + "Other miscellaneous income increased in 2018 compared to 2017 primarily due to net gains associated with the sale of certain low income housing tax credit investments, increases in the value of equity investments, and decreases in net impairment charges related to certain operating lease assets.", + "NON-INTEREST EXPENSE Table 6\u2014Non-Interest Expense from Continuing Operations", + "||Year Ended December 31|Change 2018 vs. 2017|\n||2018|2017|2016|Amount|Percent|\n||(Dollars in millions)|\n|Salaries and employee benefits|$1,947|$1,874|$1,842|$73|3.9%|\n|Net occupancy expense|335|339|342|-4|-1.2%|\n|Furniture and equipment expense|325|326|312|-1|-0.3%|\n|Outside services|187|172|154|15|8.7%|\n|Professional, legal and regulatory expenses|119|93|92|26|28.0%|\n|Marketing|92|93|101|-1|-1.1%|\n|FDIC insurance assessments|85|108|99|-23|-21.3%|\n|Branch consolidation, property and equipment charges|11|22|58|-11|-50.0%|\n|Visa class B shares expense|10|19|15|-9|-47.4%|\n|Provision (credit) for unfunded credit losses|-2|-16|17|14|-87.5%|\n|Loss on early extinguishment of debt|\u2014|\u2014|14|\u2014|NM|\n|Other miscellaneous expenses|461|461|437|\u2014|\u2014%|\n||$3,570|$3,491|$3,483|$79|2.3%|\n", + "unrealized gains and losses on cash flow hedges, unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions.", + "Treasury Stock \u2013 We account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders\u2019 equity.", + "We reissue common stock held in treasury only for limited purposes.", + "Noncontrolling Interest \u2013 In 2011, we made an investment in a company in which we acquired a controlling financial interest, but not 100 percent of the equity.", + "In 2013, we purchased additional shares of the company from the minority shareholders.", + "Further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements.", + "Accounting Pronouncements \u2013 Effective January 1, 2013, we adopted the FASB\u2019s Accounting Standard Updates (ASUs) requiring reporting of amounts reclassified out of accumulated other comprehensive income (OCI) and balance sheet offsetting between derivative assets and liabilities.", + "These ASUs only change financial statement disclosure requirements and therefore do not impact our financial position, results of operations or cash flows.", + "See Note 12 for disclosures relating to OCI.", + "See Note 13 for disclosures relating to balance sheet offsetting.", + "There are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.3.", + "SHARE-BASED COMPENSATION Our share-based payments primarily consist of stock options, restricted stock, restricted stock units (RSUs), and an employee stock purchase plan.", + "Share-based compensation expense is as follows (in millions):", + "|For the Years Ended December 31,|2013|2012|2011|\n|Stock options|$24.7|$32.4|$41.7|\n|RSUs and other|23.8|22.6|18.8|\n|Total expense, pre-tax|48.5|55.0|60.5|\n|Tax benefit related to awards|-15.6|-16.6|-17.8|\n|Total expense, net of tax|$32.9|$38.4|$42.7|\n", + "Share-based compensation cost capitalized as part of inventory for the years ended December 31, 2013, 2012 and 2011 was $4.1 million, $6.1 million, and $8.8 million, respectively.", + "As of December 31, 2013 and 2012, approximately $2.4 million and $3.3 million of capitalized costs remained in finished goods inventory.", + "Stock Options We had two equity compensation plans in effect at December 31, 2013: the 2009 Stock Incentive Plan (2009 Plan) and the Stock Plan for Non-Employee Directors.", + "The 2009 Plan succeeded the 2006 Stock Incentive Plan (2006 Plan) and the TeamShare Stock Option Plan (TeamShare Plan).", + "No further awards have been granted under the 2006 Plan or under the TeamShare Plan since May 2009, and shares remaining available for grant under those plans have been merged into the 2009 Plan.", + "Vested and unvested stock options and unvested restricted stock and RSUs previously granted under the 2006 Plan, the TeamShare Plan and another prior plan, the 2001 Stock Incentive Plan, remained outstanding as of December 31, 2013.", + "We have reserved the maximum number of shares of common stock available for award under the terms of each of these plans.", + "We have registered 57.9 million shares of common stock under these plans.", + "The 2009 Plan provides for the grant of nonqualified stock options and incentive stock options, long-term performance awards in the form of performance shares or units, restricted stock, RSUs and stock appreciation rights.", + "The Compensation and Management Development Committee of the Board of Directors determines the grant date for annual grants under our equity compensation plans.", + "The date for annual grants under the 2009 Plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year.", + "The Stock Plan for Non-Employee Directors provides for awards of stock options, restricted stock and RSUs to non-employee directors.", + "It has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares, except in limited circumstances where they are issued from treasury stock.", + "The total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited.", + "At December 31, 2013, an aggregate of 10.4 million shares were available for future grants and awards under these plans.", + "Stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years.", + "As established under our equity compensation plans, vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met.", + "We recognize expense related to stock options on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates.", + "Due to the accelerated retirement provisions, the requisite service period of our stock options range from one to four years.", + "Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise." + ], + "question_id": "simplong-test-210", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the highest total amount of Three months or less?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "During 2010, we granted 3.8 million RSUs and 1.1 million Employee SARs.", + "See Footnote No.4, \u201cShare-Based Compensation,\u201d of the Notes to our Financial Statements for additional information.", + "NEW ACCOUNTING STANDARDS See Footnote No.1, \u201cSummary of Significant Accounting Policies,\u201d of the Notes to our Financial Statements for information related to our adoption of new accounting standards in 2010 and for information on our anticipated adoption of recently issued accounting standards.", + "LIQUIDITY AND CAPITAL RESOURCES Cash Requirements and Our Credit Facilities Our Credit Facility, which expires on May 14, 2012, and associated letters of credit, provide for $2.4 billion of aggregate effective borrowings.", + "Borrowings under the Credit Facility bear interest at the London Interbank Offered Rate (LIBOR) plus a fixed spread based on the credit ratings for our public debt.", + "We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating.", + "For additional information on our Credit Facility, including participating financial institutions, see Exhibit 10, \u201cAmended and Restated Credit Agreement,\u201d to our Current Report on Form 8-K filed with the SEC on May 16, 2007.", + "Although our Credit Facility does not expire until 2012, we expect that we may extend or replace it during 2011.", + "The Credit Facility contains certain covenants, including a single financial covenant that limits our maximum leverage (consisting of Adjusted Total Debt to Consolidated EBITDA, each as defined in the Credit Facility) to not more than 4 to 1.", + "Our outstanding public debt does not contain a corresponding financial covenant or a requirement that we maintain certain financial ratios.", + "We currently satisfy the covenants in our Credit Facility and public debt instruments, including the leverage covenant under the Credit Facility, and do not expect the covenants to restrict our ability to meet our anticipated borrowing and guarantee levels or increase those levels should we need to do so in the future.", + "We believe the Credit Facility, together with cash we expect to generate from operations and our ability to raise capital, remains adequate to meet our short-term and long-term liquidity requirements, finance our long-term growth plans, meet debt service, and fulfill other cash requirements.", + "At year-end 2010, our available borrowing capacity amounted to $2.831 billion and reflected borrowing capacity of $2.326 billion under our Credit Facility and our cash balance of $505 million.", + "We calculate that borrowing capacity by taking $2.404 billion of effective aggregate bank commitments under our Credit Facility and subtracting $78 million of outstanding letters of credit under our Credit Facility.", + "During 2010, we repaid our outstanding Credit Facility borrowings and had no outstanding balance at year-end.", + "As noted in the previous paragraphs, we anticipate that this available capacity will be adequate to fund our liquidity needs.", + "Since we continue to have ample flexibility under the Credit Facility\u2019s covenants, we also expect that undrawn bank commitments under the Credit Facility will remain available to us even if business conditions were to deteriorate markedly.", + "Cash from Operations Cash from operations, depreciation expense, and amortization expense for the last three fiscal years are as follows:", + "|($ in millions)|2010|2009|2008|\n|Cash from operations|$1,151|$868|$641|\n|Depreciation expense|138|151|155|\n|Amortization expense|40|34|35|\n", + "Our ratio of current assets to current liabilities was roughly 1.4 to 1.0 at year-end 2010 and 1.2 to 1.0 at year-end 2009.", + "We minimize working capital through cash management, strict credit-granting policies, and aggressive collection efforts.", + "We also have significant borrowing capacity under our Credit Facility should we need additional working capital.", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 4.", + "Variable Interest Entities \u2014 (continued) the credit-linked note if cumulative losses exceeded the subordination of a synthetic reference portfolio.", + "As of December 31, 2008, the credit default swap entered into by the trust had an outstanding notional amount of $130.0 million.", + "The credit default swap counterparties of the grantor trusts had no recourse to our assets.", + "In October 2009, the grantor trust was terminated and we received $122.2 million in cash.", + "We determined that this grantor trust was a VIE and that we were the primary beneficiary of the trust as we were the sole investor in the trust and the manager of the synthetic reference portfolios.", + "Upon consolidation of the trust, as of December 31, 2008, our consolidated statements of financial position included $93.5 million of available-for-sale fixed maturity securities, which represented the collateral held by the trust.", + "The assets of the trust were held by a trustee and could only be liquidated to settle obligations of the trust.", + "These obligations included losses on the synthetic reference portfolio and the return of investments due to maturity or termination of the trust.", + "As of December 31, 2008, our consolidated statements of financial position included $53.4 million of other liabilities representing derivative market values of the trust.", + "During the year December 31, 2008 and 2007, the credit default swaps had a change in fair value that resulted in a $54.5 million pre-tax loss and $3.2 million pre-tax loss, respectively.", + "During the year ended December 31, 2009, we recognized a pre-tax gain of $49.8 million related to the change in fair value and termination of the credit default swaps.", + "Grantor Trusts.", + "We contributed undated subordinated floating rate notes to three grantor trusts.", + "The trusts separated the cash flows of the underlying $425.9 million par value notes by issuing an interest-only certificate and a residual certificate related to each note contributed.", + "Each interest-only certificate entitles the holder to interest on the stated note for a specified term while the residual certificate entitles the holder to interest payments subsequent to the term of the interest-only certificate and to all principal payments.", + "We retained the interest-only certificate and the residual certificates were subsequently sold to a third party.", + "We have determined that these grantor trusts are VIEs as our interest-only certificates are exposed to the majority of the risk of loss due to interest rate risk.", + "The restricted interest periods end between 2016 and 2020 and, at that time, the residual certificate holders\u2019 certificates are redeemed by the trust in return for the notes.", + "We have determined that it will be necessary for us to consolidate these entities until the expiration of the interest-only period.", + "As of December 31, 2009 and 2008, our consolidated statements of financial position include $226.6 million and $212.2 million, respectively, of undated subordinated floating rate notes of the grantor trusts, which are classified as available-for-sale fixed maturity securities and represent the collateral held by the trust.", + "The obligation to deliver the underlying securities to the residual certificate holders of $89.1 million and $103.8 million as of December 31, 2009 and 2008, respectively, is classified as an other liability and contains an embedded derivative of the forecasted transaction to deliver the underlying securities.", + "The creditors of the grantor trusts have no recourse to our assets.", + "Other.", + "In addition to the entities above, we have a number of relationships with a disparate group of entities, which meet the criteria for VIEs.", + "Due to the nature of our direct investment in the equity and/or debt of these VIEs, we are the primary beneficiary of such entities, which requires us to consolidate them.", + "These entities include five private investment vehicles and several hedge funds.", + "The consolidation of these VIEs did not have a material effect on either our consolidated statements of financial position as of December 31, 2009 or 2008, or results of operations for the years ended December 31, 2009, 2008 and 2007.", + "For these entities, the creditors have no recourse to our assets.", + "The carrying amount and classification of other consolidated VIE assets that are pledged as collateral that the VIEs have designated for their other obligations and the debt of the VIEs are as follows:", + "| | December 31,|\n| | 2009| 2008|\n| |(in millions) |\n|Fixed maturity securities, available-for-sale|$59.2|$103.8|\n|Fixed maturity securities, trading|19.8|17.2|\n|Equity securities, trading|90.9|30.7|\n|Cash and other assets|119.8|140.8|\n|Total assets pledged as collateral|$289.7|$292.5|\n|Long-term debt and other obligations|$178.9|$248.6|\n", + "The assets of the trusts are held by a trustee and can only be liquidated to settle obligations of the trusts.", + "These obligations primarily include unrealized losses on derivatives, the synthetic reference portfolios or financial guarantees and the return of investments due to maturity or termination of the trusts.", + "As of December 31, 2009 and 2008, these", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 5.", + "Investments \u2014 (continued) Each reporting period, all securities are reviewed to determine whether an other-than-temporary decline in value exists and whether losses should be recognized.", + "We consider relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other than temporary.", + "Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events and (4) for fixed maturity securities, our intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity and for equity securities, our ability and intent to hold the security for a period of time that allows for the recovery in value.", + "Prior to 2009, our ability and intent to hold fixed maturity securities for a period of time that allowed for a recovery in value was considered rather than our intent to sell these securities.", + "To the extent we determine that a security is deemed to be other than temporarily impaired, an impairment loss is recognized.", + "Impairment losses on equity securities are recognized in net income and are measured as the difference between amortized cost and fair value.", + "The way in which impairment losses on fixed maturity securities are now recognized in the financial statements is dependent on the facts and circumstances related to the specific security.", + "If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, we recognize an other-than-temporary impairment in net income for the difference between amortized cost and fair value.", + "If we do not expect to recover the amortized cost basis, we do not plan to sell the security and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, the recognition of the other-than-temporary impairment is bifurcated.", + "We recognize the credit loss portion in net income and the noncredit loss portion in OCI.", + "Prior to 2009, other-than-temporary impairments on fixed maturity securities were recorded in net income in their entirety and the amount recognized was the difference between amortized cost and fair value.", + "We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security.", + "The present value is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security.", + "The methodology and assumptions for establishing the best estimate cash flows vary depending on the type of security.", + "The asset-backed securities cash flow estimates are based on bond specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees.", + "The corporate bond cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or liquidations using bond specific facts and circumstances including timing, security interests and loss severity.", + "Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities, were as follows:", + "||For the year ended December 31,|\n||2009|2008|2007|\n||(in millions)|\n|Fixed maturities, available-for-sale|$-693.6|$-432.0|$-262.8|\n|Equity securities, available-for-sale|-20.5|-47.3|-51.3|\n|Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities|$-714.1|$-479.3|$-314.1|\n", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 10.", + "Debt \u2014 (continued) Long-Term Debt The components of long-term debt as of December 31, 2009 and 2008, were as follows:", + "| | December 31,|\n| | 2009| 2008|\n| |(in millions) |\n|8.2% notes payable, due 2009|$\u2014|$454.9|\n|3.31% notes payable, due 2011|61.2|49.9|\n|3.63% notes payable, due 2011|31.4|25.6|\n|7.875% notes payable, due 2014|400.0|\u2014|\n|8.875% notes payable, due 2019|350.0|\u2014|\n|6.05% notes payable, due 2036|601.8|601.8|\n|8% surplus notes payable, due 2044|99.2|99.2|\n|Non-recourse mortgages and notes payable|40.6|58.7|\n|Other mortgages and notes payable|0.4|0.4|\n|Total long-term debt|$1,584.6|$1,290.5|\n", + "The amounts included above are net of the discount and premium associated with issuing these notes, which are being amortized to expense over their respective terms using the interest method.", + "On May 18, 2009, we issued $750.0 million of senior notes.", + "We issued a $400.0 million series of notes that bear interest at 7.875% and will mature on May 15, 2014, and a $350.0 million series of notes that bear interest at 8.875% and will mature on May 15, 2019.", + "Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on November 15, 2009.", + "The proceeds were primarily used to refinance $440.9 million of notes that matured on August 15, 2009, with the remaining proceeds being used for general corporate purposes.", + "On October 16 and December 5, 2006, we issued $500.0 million and $100.0 million, respectively, of senior notes.", + "The notes bear interest at a rate of 6.05% per year.", + "Interest on the notes is payable semi-annually on April 15 and October 15 each year and began on April 15, 2007.", + "The notes will mature on October 15, 2036.", + "A portion of the proceeds were used to fund the 2006 acquisition of WM Advisors, Inc. , with the remaining proceeds being used for general corporate purposes.", + "On November 3, 2005, Principal International de Chile S. A. , a wholly owned indirect subsidiary, entered into long-term borrowing agreements with two Chilean banks in the amount of US $93.9 million.", + "This debt is denominated in Unidades de Formento (\u2018\u2018UF\u2019\u2019), a Chilean inflation-indexed, peso-denominated monetary unit.", + "Of this amount, US $49.0 million of UF +3.31% notes, which was refinanced from +4.59% during 2007, and US $44.9 million of UF +3.63% notes, which was refinanced from +4.93% in 2007, mature on November 3, 2011.", + "Interest on the notes is payable semi-annually on May 3 and November 3 each year.", + "The debt outstanding and interest expense will vary due to fluctuations in the Chilean peso to US dollar exchange rates and Chilean inflation.", + "On August 25, 1999, Principal Financial Group (Australia) Holdings Pty.", + "Limited, a wholly owned indirect subsidiary, issued $665.0 million of unsecured redeemable long-term debt.", + "Principal Financial Group (Australia) Holdings Pty.", + "Limited used the net proceeds from the notes to partially fund the purchase of the outstanding stock of several companies affiliated with Bankers Trust Australia Group.", + "On December 28, 2001, all of the long-term debt obligations of Principal Financial Group (Australia) Holdings Pty.", + "Limited were assumed by its parent, Principal Financial Services, Inc. Of the original amount issued, $200.0 million of 7.95% notes matured on August 15, 2004, with the remaining $465.0 million in 8.2% notes maturing on August 15, 2009.", + "The note was paid in full during 2009.", + "On March 10, 1994, Principal Life issued $100.0 million of surplus notes due March 1, 2044, at an 8% annual interest rate.", + "None of our affiliates hold any portion of the notes.", + "Each payment of interest and principal on the notes, however, may be made only with the prior approval of the Commissioner of Insurance of the State of Iowa (the \u2018\u2018Commissioner\u2019\u2019) and only to the extent that Principal Life has sufficient surplus earnings to make such payments.", + "Interest of $8.0 million for each of the years ended December 31, 2009, 2008 and 2007 was approved by the Commissioner, and charged to expense.", + "Subject to Commissioner approval, the notes due March 1, 2044, may be redeemed at Principal Life\u2019s election on or after March 1, 2014, in whole or in part at a redemption price of approximately 102.3% of par.", + "The approximate 2.3% premium is scheduled to gradually diminish over the following ten years.", + "These notes may be redeemed on or after March 1, 2024, at a redemption price of 100% of the principal amount plus interest accrued to the date of redemption.", + "The non-recourse mortgages, other mortgages and notes payable are primarily financings for real estate developments.", + "Outstanding principal balances as of December 31, 2009, ranged from $5.9 million to $9.1 million per", + "| | December 31, 2008|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$3,086.0|$194.4|$1,188.1|$99.5|$4,274.1|$293.9|\n|Greater than three to six months|4,213.7|467.9|1,673.6|236.4|5,887.3|704.3|\n|Greater than six to nine months|3,014.0|620.7|1,566.6|290.6|4,580.6|911.3|\n|Greater than nine to twelve months|2,321.0|743.0|1,259.7|460.1|3,580.7|1,203.1|\n|Greater than twelve to twenty-four months|3,042.0|1,507.5|2,217.1|1,519.7|5,259.1|3,027.2|\n|Greater than twenty-four to thirty-six months|1,045.2|296.1|312.5|217.1|1,357.7|513.2|\n|Greater than thirty-six months|1,363.8|423.5|698.2|265.8|2,062.0|689.3|\n|Total fixed maturity securities, available-for-sale|$18,085.7|$4,253.1|$8,915.8|$3,089.2|$27,001.5|$7,342.3|\n", + "The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on below investment grade fixed maturity securities available-for-sale by aging category for the time periods indicated.", + "| | December 31, 2009|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$55.7|$3.3|$52.8|$1.2|$108.5|$4.5|\n|Greater than three to six months|3.4|\u2014|14.8|\u2014|18.2|\u2014|\n|Greater than six to nine months|12.7|0.2|0.1|0.1|12.8|0.3|\n|Greater than nine to twelve months|32.8|11.2|1.0|1.8|33.8|13.0|\n|Greater than twelve to twenty-four months|441.3|112.2|365.6|186.7|806.9|298.9|\n|Greater than twenty-four to thirty-six months|609.0|314.8|403.5|435.8|1,012.5|750.6|\n|Greater than thirty-six months|113.8|26.8|84.6|76.6|198.4|103.4|\n|Total fixed maturity securities, available-for-sale|$1,268.7|$468.5|$922.4|$702.2|$2,191.1|$1,170.7|\n", + "December 31, 2008", + "| | December 31, 2008|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$133.1|$56.5|$114.6|$32.1|$247.7|$88.6|\n|Greater than three to six months|88.8|12.7|297.1|74.3|385.9|87.0|\n|Greater than six to nine months|102.5|42.9|129.1|46.5|231.6|89.4|\n|Greater than nine to twelve months|163.0|65.9|44.5|43.7|207.5|109.6|\n|Greater than twelve to twenty-four months|242.0|151.7|351.8|239.5|593.8|391.2|\n|Greater than twenty-four to thirty-six months|41.2|26.1|13.3|21.4|54.5|47.5|\n|Greater than thirty-six months|100.3|29.7|100.9|30.3|201.2|60.0|\n|Total fixed maturity securities, available-for-sale|$870.9|$385.5|$1,051.3|$487.8|$1,922.2|$873.3|\n", + "The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on fixed maturity securities available-for-sale where the estimated fair value has declined and remained below amortized cost by 20% or more as the time periods indicate." + ], + "question_id": "simplong-test-211", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the proportion of all Unaffiliated customers that are greater than 2000 to the total amount of Unaffiliated customers, in 2010? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "| For the Years Ended December 31| Total| United States| Europe (a)| Africa| Asia and Other (b)|\n|| (In millions)|\n|2010||||||\n|Sales and other operating revenues||||||\n|Unaffiliated customers|$8,601|$2,310|$2,251|$2,750|$1,290|\n|Inter-company|143|143|\u2014|\u2014|\u2014|\n|Total revenues|8,744|2,453|2,251|2,750|1,290|\n|Costs and expenses||||||\n|Production expenses, including related taxes|1,924|489|727|455|253|\n|Exploration expenses, including dry holes and lease impairment|865|364|49|143|309|\n|General, administrative and other expenses|281|161|48|20|52|\n|Depreciation, depletion and amortization|2,222|649|463|772|338|\n|Asset impairments|532|\u2014|\u2014|532|\u2014|\n|Total costs and expenses|5,824|1,663|1,287|1,922|952|\n|Results of operations before income taxes|2,920|790|964|828|338|\n|Provision for income taxes|1,425|305|477|580|63|\n|Results of operations|$1,495|$485|$487|$248|$275|\n", + "(a) Results of operations for oil and gas producing activities in Norway were as follows for the years ended December 31:", + "||2012| 2011| 2010||\n|| (In millions)||\n|Sales and other operating revenues\u2014Unaffiliated customers|$518|$996|$524||\n|Costs and expenses|||||\n|Production expenses, including related taxes|302|290|149||\n|Exploration expenses, including dry holes and lease impairment|\u2014|10|12||\n|General, administrative and other expenses|10|9|9||\n|Depreciation, depletion and amortization|139|232|133||\n|Total costs and expenses|451|541|303||\n|Results of operations before income taxes|67|455|221||\n|Provision for income taxes|-82|295|154||\n|Results of operations|$149|$160|$67||\n", + "(b) Excludes a 2012 income tax charge of $86 million for a disputed application of an international tax treaty.", + "Oil and Gas Reserves The Corporation\u2019s proved oil and gas reserves are calculated in accordance with the Securities and Exchange Commission (SEC) regulations and the requirements of the Financial Accounting Standards Board.", + "Proved oil and gas reserves are quantities, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from known reservoirs under existing economic conditions, operating methods and government regulations.", + "The Corporation\u2019s estimation of net recoverable quantities of liquid hydrocarbons and natural gas is a highly technical process performed by internal teams of geoscience professionals and reservoir engineers.", + "Estimates of reserves were prepared by the use of appropriate geologic, petroleum engineering, and evaluation principals and techniques that are in accordance with practices generally recognized by the petroleum industry as presented in the publication of the Society of Petroleum Engineers entitled \u201cStandards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information (Revision as of February 19, 2007).", + "\u201d The method or combination of methods used in the analysis of each reservoir is based on the maturity of the reservoir, the completeness of the subsurface data available at the time of the estimate, the stage of reservoir development and the production history.", + "Where applicable, reliable technologies may be used in reserve estimation, as defined in the SEC regulations.", + "These technologies, including computational methods, must have been field tested and demonstrated to provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an analogous formation.", + "In order for reserves to be classified as proved, any required government approvals must be obtained and depending on the cost of the project, either senior management or the board of directors must commit to fund the development.", + "The Corporation\u2019s proved reserves are subject to certain risks and uncertainties, which are discussed in Item 1A, Risk Factors Related to Our Business and Operations of this Form 10-K.", + "by net repayments of other debt of $53 million.", + "During 2011, net proceeds from borrowings on available credit facilities were $422 million.", + "During 2010, net proceeds from borrowings were $1,098 million, including the August 2010 issuance of $1,250 million of 30-year fixed-rate public notes with a coupon of 5.6% scheduled to mature in 2041.", + "In January 2010, the Corporation completed the repurchase of the remaining $116 million of fixed-rate public notes that were scheduled to mature in 2011.", + "Total common stock dividends paid were $171 million in 2012, $136 million in 2011 and $131 million in 2010.", + "In 2012, the Corporation made five quarterly common stock dividend payments as a result of accelerating payment of the fourth quarter 2012 dividend, which historically would have been paid in the first quarter of 2013.", + "The Corporation received net proceeds from the exercise of stock options, including related income tax benefits of $11 million, $88 million and $54 million in 2012, 2011 and 2010, respectively.", + "Future Capital Requirements and Resources The Corporation anticipates investing a total of approximately $6.8 billion in capital and exploratory expenditures during 2013, substantially all of which is targeted for E&P operations.", + "This reflects an 18 percent reduction from the 2012 total of $8.3 billion.", + "The decrease is substantially attributable to a reduced level of spend in the Bakken driven by lower drilling and completion costs and decreased investments in infrastructure projects.", + "During 2012, the Corporation funded its capital spending through cash flows from operations, incremental borrowings and proceeds from asset sales.", + "The Corporation had a cash flow deficit of approximately $2.5 billion in 2012 and the projected deficit for 2013 is expected to moderate versus 2012 based on current commodity prices.", + "During 2012, the Corporation announced asset sales totaling $2.4 billion, of which cash proceeds of $843 million were received in 2012 and approximately $440 million were received in January 2013.", + "The Corporation is also pursuing the sale of its Russian operations, Eagle Ford assets and its terminal network.", + "The Corporation expects to fund its 2013 capital expenditures and ongoing operations, including dividends, pension contributions and debt repayments with existing cash on-hand, cash flows from operations and proceeds from asset sales.", + "Crude oil and natural gas prices are volatile and difficult to predict.", + "In addition, unplanned increases in the Corporation\u2019s capital expenditure program could occur.", + "If conditions were to change, such as a significant decrease in commodity prices or an unexpected increase in capital expenditures, the Corporation would take steps to protect its financial flexibility and may pursue other sources of liquidity, including the issuance of debt securities, the issuance of equity securities, and/or further asset sales.", + "See Overview on page 20 for a discussion of Elliott Management Corporation.", + "The table below summarizes the capacity, usage, and available capacity of the Corporation\u2019s borrowing and letter of credit facilities at December 31, 2012:", + "|| Expiration Date| Capacity| Borrowings| Letters of Credit Issued| Total Used| Available Capacity|\n||| (In millions)|\n|Revolving credit facility|April 2016|$4,000|$758|$\u2014|$758|$3,242|\n|Asset-backed credit facility|July 2013 (a)|642|600|\u2014|600|42|\n|Committed lines|Various (b)|2,730|500|463|963|1,767|\n|Uncommitted lines|Various (b)|773|490|283|773|\u2014|\n|Total||$8,145|$2,348|$746|$3,094|$5,051|\n", + "(a) Total capacity of $1 billion subject to the amount of eligible receivables posted as collateral.", + "(b) Committed and uncommitted lines have expiration dates through 2014.", + "The Corporation has a $4 billion syndicated revolving credit facility that matures in April 2016.", + "This facility can be used for borrowings and letters of credit.", + "Borrowings on the facility bear interest at 1.25% above the London Interbank Offered Rate.", + "A fee of 0.25% per annum is also payable on the amount of the facility.", + "The interest rate and facility fee are subject to adjustment if the Corporation\u2019s credit rating changes.", + "The Corporation has a 364-day asset-backed credit facility secured by certain accounts receivable from its M&R operations.", + "Under the terms of this financing arrangement, the Corporation has the ability to borrow or issue letters of credit of up to $1 billion subject to the availability of sufficient levels of eligible receivables.", + "At December 31, 2012, outstanding borrowings under this facility of $600 million were collateralized by a total of", + "HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 2010: In December, the Corporation acquired approximately 167,000 net acres in the Bakken oil shale play (Bakken) in North Dakota from TRZ Energy, LLC for $1,075 million in cash.", + "In December, the Corporation also completed the acquisition of American Oil & Gas Inc. (American Oil & Gas) for approximately $675 million through the issuance of approximately 8.6 million shares of the Corporation\u2019s common stock, which increased the Corporation\u2019s acreage position in the Bakken by approximately 85,000 net acres.", + "The properties acquired were located near the Corporation\u2019s existing acreage.", + "These acquisitions strengthened the Corporation\u2019s acreage position in the Bakken, leveraged existing capabilities and infrastructure and are expected to contribute to future reserve and production growth.", + "Both of these transactions were accounted for as business combinations and the majority of the fair value of the assets acquired was assigned to unproved properties.", + "The total goodwill recorded on these transactions was $332 million after final post-closing adjustments.", + "In September, the Corporation completed the exchange of its interests in Gabon and the Clair Field in the United Kingdom for additional interests of 28% and 25%, respectively, in the Valhall and Hod fields offshore Norway.", + "This non-monetary exchange was accounted for as a business combination.", + "The transaction resulted in a pre-tax gain of $1,150 million ($1,072 million after income taxes).", + "The total combined carrying amount of the disposed assets prior to the exchange was $702 million, including goodwill of $65 million.", + "The Corporation also acquired, from a different third party, additional interests of 8% and 13% in the Valhall and Hod fields, respectively, for $507 million in cash.", + "This acquisition was accounted for as a business combination.", + "As a result of both of these transactions, the Corporation\u2019s total interests in the Valhall and Hod fields are 64% and 63%, respectively.", + "The primary reason for these transactions was to acquire long-lived crude oil reserves and future production growth.", + "For all the 2010 acquisitions and the exchange described above, the assets acquired and liabilities assumed were recorded at fair value.", + "The estimated fair value for property, plant and equipment acquired in these transactions was based primarily on an income approach (Level 3 fair value measurement).4.", + "Inventories Inventories at December 31 were as follows:", + "||2012|2011|\n||(In millions)|\n|Crude oil and other charge stocks|$493|$451|\n|Refined petroleum products and natural gas|1,362|1,762|\n|Less: LIFO adjustment|-1,123|-1,276|\n||732|937|\n|Merchandise, materials and supplies|527|486|\n|Total inventories|$1,259|$1,423|\n", + "The percentage of LIFO inventory to total crude oil, refined petroleum products and natural gas inventories was 71% and 72% at December 31, 2012 and 2011, respectively.", + "During 2012 the Corporation reduced LIFO inventories, which are carried at lower costs than current inventory costs.", + "The effect of the LIFO inventory liquidations was to decrease Cost of products sold by approximately $165 million in 2012 ($104 million after income taxes).5.", + "HOVENSA L. L. C. Joint Venture The Corporation has a 50% interest in HOVENSA, a joint venture with a subsidiary of Petroleos de Venezuela, S. A.", + "(PDVSA), which owns a refinery in St. Croix, U. S. Virgin Islands.", + "In January 2012, HOVENSA shut down its refinery as a result of continued substantial operating losses due to global economic conditions and competitive disadvantages versus other refiners, despite efforts to improve operating performance by reducing refining capacity to 350,000 from 500,000 barrels per day in the first half of 2011.", + "During 2012 and continuing into 2013, HOVENSA and the Government of the Virgin Islands engaged in discussions pertaining to HOVENSA\u2019s plan to run the facility as an oil storage terminal while the Corporation and its joint venture partner pursue a sale of HOVENSA.", + "Table of Contents VALERO ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Cash Flow Hedges Cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases, refined product sales, and natural gas purchases.", + "The objective of our cash flow hedges is to lock in the price of forecasted feedstock, product or natural gas purchases or refined product sales at existing market prices that we deem favorable.", + "As of December 31, 2011, we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products.", + "The information presents the notional volume of outstanding contracts by type of instrument and year of maturity (volumes in thousands of barrels)." + ], + "question_id": "simplong-test-212", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of the Avalon Terrace, LLC in the years where Town Run Associates is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "In conjunction with the acquisition and development of the investments in unconsolidated entities, the Company incurred costs in excess of its equity in the underlying net assets of the respective investments.", + "These costs represent $5,375 at December 31, 2007 and $7,491 at December 31, 2006 of the respective investment balances.", + "Investments in Unconsolidated Non-Real Estate Entities In February 2005, the Company sold its interest in a technology venture that was accounted for under the cost method.", + "As a result of this transaction, the Company received net proceeds of approximately $6,700 and recognized a gain on the sale of this investment of $6,252, which is refl ected in equity in income of unconsolidated entities on the accompanying Consolidated Statement of Operations and Other Comprehensive Income for the year ended December 31, 2005.", + "Under the terms of the sale, certain proceeds were escrowed to secure the purchaser\u2019s rights to indemnifi cation.", + "Any amounts not used for this purpose were distributed to the former investors in the venture in 2006.", + "For the year ended December 31, 2006, the Company recognized $433 for the fi nal installment of the gain on this sale upon release of this escrow.", + "The following is a summary of the Company\u2019s equity in income (loss) of unconsolidated entities for the years presented:", + "||For the year ended|\n||12-31-07|12-31-06|12-31-05|\n|Town Grove, LLC|$57,821|$1,457|$1,286|\n|Avalon Del Rey, LLC|3,616|\u2014|\u2014|\n|CVP I, LLC|567|-68|-339|\n|Town Run Associates|107|298|266|\n|AvalonTerrace, LLC-1|22|6,736|58|\n|MVP I, LLC|-1,261|-662|-57|\n|AvalonBay Value Added Fund, L.P.|-1,775|-799|-341|\n|AvalonBay Redevelopment LLC|\u2014|\u2014|73|\n|Rent.com|\u2014|433|6,252|\n|Constellation Real Technologies|72|60|\u2014|\n|Total-2|$59,169|$7,455|$7,198|\n", + "(1) Equity in income from this entity for 2006 includes a gain of $6,609 for the Company\u2019s 25% share of the gain from the fourth quarter disposition of Avalon Bedford, the sole asset held by Avalon Terrace, LLC.", + "(2) This table does not include Aria at Hathorne.", + "As a development community, all costs are being capitalized, resulting in no reportable income.7.", + "Real Estate Disposition Activities During the year ended December 31, 2007, the Company sold four communities: Avalon View, located in Wappingers Falls, New York, San Marino, located in San Jose, California, Avalon West, located in Westborough, Massachusetts and Avalon at Stevens Pond, located in Saugus, Massachusetts.", + "These four communities contained a total of 982 apartment homes and were sold for an aggregate sales price of $204,650.", + "The Company also sold its interest in Avalon Grove, which contained 402 apartment homes for a sales price of $63,446.", + "The sale of these communities and partnership interest resulted in a gain in accordance with GAAP of $162,807.", + "Details regarding the community asset sales are summarized in the following table:", + "|Community Name|Location|Period of sale|Apartment homes|Debt|Gross sales price|Net proceeds|\n|Avalon View|Wappingers Falls, NY|Q307|288|$\u2014|$54,000|$53,293|\n|San Marino|San Jose, CA|Q307|248|\u2014|55,000|54,333|\n|Avalon West|Westborough, MA|Q307|120|8,116|18,000|9,585|\n|Avalon at Stevens Pond|Saugus, MA|Q407|326|\u2014|77,650|76,784|\n|Avalon Grove-1|Stamford, CT|Q407|402|\u2014|63,446|63,401|\n|Total of all 2007 asset sales|||1,384|$8,116|$268,096|$257,396|\n|Total of all 2006 asset sales|||1,036|$37,200|$261,850|$218,492|\n|Total of all 2005 asset sales|||1,305|$\u2014|$351,450|$344,185|\n", + "(1) The Company held and sold its 50% ownership interest in the LLC that developed, owned and operated Avalon Grove.", + "The Company will continue to manage this community for a customary property management fee.", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) As of December 31, 2007, the Company had no communities that qualifi ed as discontinued operations or held for sale under the provisions of SFAS No.144.", + "In accordance with the requirements of SFAS No.144, the operations for any communities sold from January 1, 2005 through December 31, 2007 and the communities that qualifi ed as discontinued operations as of December 31, 2007 have been presented as discontinued operations in the accompanying Consolidated Financial Statements.", + "Accordingly, certain reclassifi cations have been made in prior periods to refl ect discontinued operations consistent with current period presentation.", + "The following is a summary of income from discontinued operations for the periods presented:", + "||For the year ended|\n||12-31-07|12-31-06|12-31-05|\n|Rental income|$10,911|$17,658|$42,336|\n|Operating and other expenses|-4,043|-6,491|-14,441|\n|Interest expense, net|-687|-1,862|-1,927|\n|Depreciation expense|-2,176|-3,687|-6,842|\n|Income from discontinuedoperations|$4,005|$5,618|$19,126|\n", + "The Company\u2019s Consolidated Balance Sheets include other assets (excluding net real estate) of $0 and $3,821 as of December 31, 2007 and December 31, 2006, respectively, and other liabilities of $0 as of December 31, 2007 and $69,100 as of December 31, 2006, relating to real estate assets sold or classifi ed as held for sale.", + "During the year ended December 31, 2007, the Company sold one parcel of land through a taxable REIT subsidiary, located in the Mid\u0002Atlantic, for a sales price of $5,800, resulting in a gain of $545 under GAAP.", + "The Company had gains on the sales of land parcels of $13,519 in 2006, and $4,479 in 2005.8.", + "Commitments and Contingencies Employment Agreements and Arrangements As of December 31, 2007, the Company had employment agreements with four executive offi cers.", + "The employment agreements provide for severance payments and generally provide for accelerated vesting of stock options and restricted stock in the event of a termination of employment (except for a termination by the Company with cause or a voluntary termination by the employee).", + "The current terms of these agreements end on dates that vary between November 2008 and June 2009.", + "The employment agreements provide for one-year automatic renewals (two years in the case of the Chief Executive Offi cer (\u201cCEO\u201d)) after the initial term unless an advance notice of non-renewal is provided by either party.", + "Upon a notice of non-renewal by the Company, each of the offi cers may terminate his employment and receive a severance payment.", + "Upon a change in control, the agreements provide for an automatic extension of up to three years from the date of the change in control.", + "The employment agreements provide for base salary and incentive compensation in the form of cash awards, stock options and stock grants subject to the discretion of, and attainment of performance goals established by the Compensation Committee of the Board of Directors.", + "The Company\u2019s stock incentive plan, as described in Note 10, \u201cStock-Based Compensation Plans,\u201d provides that upon an employee\u2019s Retirement (as defi ned in the plan documents) from the Company, all outstanding stock options and restricted shares of stock held by the employee will vest, and the employee will have up to 12 months to exercise any options held upon retirement.", + "Under the plan, Retirement means a termination of employment, other than for cause, after attainment of age 50, provided that (i) the employee has worked for the Company for at least 10 years, (ii) the employee\u2019s age at Retirement plus years of employment with the Company equals at least 70, (iii) the employee provides at least six months written notice of his intent to retire, and (iv) the employee enters into a one year non-compete and employee non-solicitation agreement.", + "The Company also has an Offi cer Severance Program (the \u201cProgram\u201d) for the benefi t of those offi cers of the Company who do not have employment agreements.", + "Under the Program, in the event an offi cer who is not otherwise covered by a severance arrangement is terminated (other than for cause) within two years following a change in control (as defi ned) of the Company, such offi cer will generally receive a cash lump sum payment equal to the sum of such offi cer\u2019s base salary and cash bonus, as well as accelerated vesting of stock options and restricted stock.", + "Costs related to the Company\u2019s employment agreements and the Program are accounted for in accordance with SFAS No.5, \u201cAccounting for Contingencies,\u201d and therefore are recognized when considered by management to be probable and estimable.", + "Construction and Development Contingencies In connection with the pursuit of a Development Right in Pleasant Hill, California, $125,000 in bond fi nancing was issued by the Contra Costa County Redevelopment Agency (the \u201cAgency\u201d) in connection with the possible", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 9.", + "Segment Reporting The Company\u2019s reportable operating segments include Established Communities, Other Stabilized Communities, and Development/ Redevelopment Communities.", + "Annually as of January 1st, the Company determines which of its communities fall into each of these categories and maintains that classifi cation, unless disposition plans regarding a community change, throughout the year for the purpose of reporting segment operations. ?", + "Established Communities (also known as Same Store Communities) are communities where a comparison of operating results from the prior year to the current year is meaningful, as these communities were owned and had stabilized occupancy and operating expenses as of the beginning of the prior year.", + "For the year ended December 31, 2007, the Established Communities are communities that are consolidated for fi nancial reporting purposes, had stabilized occupancy and operating expenses as of January 1, 2006, are not conducting or planning to conduct substantial redevelopment activities and are not held for sale or planned for disposition within the current year.", + "A community is considered to have stabilized occupancy at the earlier of (i) attainment of 95% physical occupancy or (ii) the one-year anniversary of completion of development or redevelopment. ?", + "Other Stabilized Communities includes all other completed communities that have stabilized occupancy, as defi ned above.", + "Other Stabilized Communities do not include communities that are conducting or planning to conduct substantial redevelopment activities within the current year. ?", + "Development/Redevelopment Communities consists of communities that are under construction and have not received a fi nal certifi cate of occupancy, communities where substantial redevelopment is in progress or is planned to begin during the current year and communities under lease-up, that had not reached stabilized occupancy, as defi ned above, as of January 1, 2007.", + "In addition, the Company owns land held for future development and has other corporate assets that are not allocated to an operating segment.", + "SFAS No.131, \u201cDisclosures about Segments of an Enterprise and Related Information,\u201d requires that segment disclosures present the measure(s) used by the chief operating decision maker for purposes of assessing such segments\u2019 performance.", + "The Company\u2019s chief operating decision maker is comprised of several members of its executive management team who use net operating income (\u201cNOI\u201d) as the primary fi nancial measure for Established Communities and Other Stabilized Communities.", + "NOI is defi ned by the Company as total revenue less direct property operating expenses.", + "Although the Company considers NOI a useful measure of a community\u2019s or communities\u2019 operating performance, NOI should not be considered an alternative to net income or net cash fl ow from operating activities, as determined in accordance with GAAP.", + "NOI excludes a number of income and expense categories as detailed in the reconciliation of NOI to net income.", + "A reconciliation of NOI to net income for the years ended December 31, 2007, 2006 and 2005 is as follows:", + "||For the year ended|\n||12-31-07|12-31-06|12-31-05|\n|Net income|$358,160|$266,546|$310,468|\n|Indirect operating expenses, net of corporateincome|31,285|28,811|26,675|\n|Investments and investment management|11,737|7,030|4,834|\n|Interest expense, net|97,545|109,184|125,171|\n|General and administrative expense|28,494|24,767|25,761|\n|Equity in income of unconsolidated entities|-59,169|-7,455|-7,198|\n|Minority interest in consolidated partnerships|1,585|573|1,481|\n|Depreciation expense|179,549|160,442|156,455|\n|Gain on sale of real estate assets|-107,032|-110,930|-199,766|\n|Income from discontinued operations|-4,005|-5,618|-19,126|\n|Net operating income|$538,149|$473,350|$424,755|\n", + "The primary performance measure for communities under development or redevelopment depends on the stage of completion.", + "While under development, management monitors actual construction costs against budgeted costs as well as lease-up pace and rent levels compared to budget.", + "Notes to Consolidated Financial Statements\u2014(Continued) (Amounts in Millions, Except Per Share Amounts) A summary of the remaining liability for the 2007, 2003 and 2001 restructuring programs is as follows:", + "||2007 Program|2003 Program|2001 Program|Total|\n|Liability at December 31, 2006|$\u2014|$12.6|$19.2|$31.8|\n|Net charges (reversals) and adjustments|19.1|-0.5|-5.2|13.4|\n|Payments and other1|-7.2|-3.1|-5.3|-15.6|\n|Liability at December 31, 2007|$11.9|$9.0|$8.7|$29.6|\n|Net charges and adjustments|4.3|0.8|0.7|5.8|\n|Payments and other1|-15.0|-4.1|-3.5|-22.6|\n|Liability at December 31, 2008|$1.2|$5.7|$5.9|$12.8|\n", + "Includes amounts representing adjustments to the liability for changes in foreign currency exchange rates.", + "Other Reorganization-Related Charges Other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called Mediabrands and the 2006 merger of Draft Worldwide and Foote, Cone and Belding Worldwide to create Draftfcb.", + "Charges related to severance and terminations costs and lease termination and other exit costs.", + "We expect charges associated with Mediabrands to be completed during the first half of 2009.", + "Charges related to the creation of Draftfcb in 2006 are complete.", + "The charges were separated from the rest of our operating expenses within the Consolidated Statements of Operations because they did not result from charges that occurred in the normal course of business." + ], + "question_id": "simplong-test-213", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Distribution fees in the range of 1000 and 2000 in 2011? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Consolidated Results of Operations Year Ended December 31, 2011 Compared to Year Ended December 31, 2010 Management believes that operating measures, which exclude net realized gains or losses; the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization; integration and restructuring charges; income (loss) from discontinued operations; and the impact of consolidating CIEs, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis.", + "See our discussion on the use of these non-GAAP measures in the Overview section above.", + "The following table presents our consolidated results of operations:", + "| |Years Ended December 31,|||\n| |2011 |2010 |||\n| |GAAP|Less: Adjustments -1|Operating |GAAP|Less: Adjustments -1|Operating |Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$4,537|$-49|$4,586|$3,784|$-38|$3,822|$764|20%|\n|Distribution fees|1,573|\u2014|1,573|1,447|\u2014|1,447|126|9|\n|Net investment income|2,046|97|1,949|2,309|308|2,001|-52|-3|\n|Premiums|1,220|\u2014|1,220|1,179|\u2014|1,179|41|3|\n|Other revenues|863|94|769|863|125|738|31|4|\n|Total revenues|10,239|142|10,097|9,582|395|9,187|910|10|\n|Banking and deposit interest expense|47|\u2014|47|70|\u2014|70|-23|-33|\n|Total net revenues|10,192|142|10,050|9,512|395|9,117|933|10|\n| Expenses|||||||||\n|Distribution expenses|2,497|\u2014|2,497|2,065|\u2014|2,065|432|21|\n|Interest credited to fixed accounts|853|\u2014|853|909|\u2014|909|-56|-6|\n|Benefits, claims, losses and settlement expenses|1,557|67|1,490|1,750|9|1,741|-251|-14|\n|Amortization of deferred acquisition costs|618|-8|626|127|16|111|515|NM|\n|Interest and debt expense|317|221|96|290|181|109|-13|-12|\n|General and administrative expense|2,965|116|2,849|2,737|129|2,608|241|9|\n|Total expenses|8,807|396|8,411|7,878|335|7,543|868|12|\n|Income from continuing operations before income tax provision|1,385|-254|1,639|1,634|60|1,574|65|4|\n|Income tax provision|355|-52|407|350|-36|386|21|5|\n|Income from continuing operations|1,030|-202|1,232|1,284|96|1,188|44|4|\n|Loss from discontinued operations, net of tax|-60|-60|\u2014|-24|-24|\u2014|\u2014|\u2014|\n|Net income|970|-262|1,232|1,260|72|1,188|44|4|\n|Less: Net income (loss) attributable to non- controlling interests|-106|-106|\u2014|163|163|\u2014|\u2014|\u2014|\n|Net income attributable to Ameriprise Financial|$1,076|$-156|$1,232|$1,097|$-91|$1,188|$44|4%|\n", + "NM Not Meaningful.", + "(1) Includes the elimination of management fees we earn for services provided to the CIEs and the related expense; revenues and expenses of the CIEs; net realized gains or losses; the market impact on variable annuity living benefits, net of hedges, DSIC and DAC amortization; integration and restructuring charges; and income (loss) from discontinued operations.", + "Income tax provision is calculated using the statutory tax rate of 35% on applicable adjustments.", + "CELANESE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Interest Expense", + "||Successor|Predecessor|\n||YearEndedDecember 31,2005|Nine MonthsEndedDecember 31,2004|Three MonthsEndedMarch31,2004|Year EndedDecember 31,2003|\n||(in $millions)|\n|Accelerated amortization of deferredfinancing costs on early redemption and prepayment ofdebt|28|89|\u2014|\u2014|\n|Premiumpaid on early redemption ofdebt|74|21|\u2014|\u2014|\n|Otherinterestexpense|285|190|6|49|\n|Totalinterestexpense|387|300|6|49|\n", + "Senior Credit Facilities.", + "As of December 31, 2005, the senior credit facilities consist of a term loan facility, a revolving credit facility and a credit-linked revolving facility.", + "The term loan facility consists of commitments of $1,386 million and u273 million, both maturing in 2011.", + "The revolving credit facility, through a syndication of banks, provides for borrowings of up to $600 million, including the availability of letters of credit in U. S. dollars and euros and for borrowings on same-day notice.", + "In January 2005, the Company amended and restated its senior credit facilities and increased the term loan facility from $624 million to $1,750 million (including u275 million) and increased the revolving credit facility from $380 million to $600 million.", + "As of December 31, 2005, $64 million of letters of credit have been issued under the revolving credit facility and $536 million remained available for borrowing.", + "In addition, the Company has a $228 million credit-linked revolving facility, which matures in 2009.", + "The credit-linked revolving facility includes borrowing capacity available for letters of credit.", + "As of December 31, 2005, there were $199 million of letters of credit issued under the credit-linked revolving facility and $29 million remained available for borrowing.", + "Substantially all of the assets of Celanese Holdings LLC (\u2018\u2018Celanese Holdings\u2019\u2019), the direct parent of BCP Crystal US Holdings Corp. (\u2018\u2018BCP Crystal\u2019\u2019), and, subject to certain exceptions, substantially all of its existing and future U. S. subsidiaries, referred to as U. S. Guarantors, secure these facilities.", + "The borrowings under the revolving senior credit facility bear interest at a rate equal to an applicable margin plus, at the borrower\u2019s option, either a base rate or a LIBOR rate.", + "The applicable margin for a revolving facility borrowing under the base rate option is 1.50% and for the LIBOR option, 2.50% (in each case, subject to a step-down based on a performance test, as defined).", + "In November 2005, the Company amended its senior credit facilities which lowered the margin over LIBOR on the U. S. dollar denominated portion of the term loan facility from 2.25% to 2.00%.", + "In addition, a further reduction of the interest rate to LIBOR plus 1.75% is allowed if certain conditions are met.", + "BCP Crystal may voluntarily repay outstanding loans under the senior credit facility at any time without premium or penalty, other than customary \u2018\u2018breakage\u2019\u2019 costs with respect to LIBOR loans.", + "Senior Subordinated Notes.", + "During June and July 2004, the Company issued $1,225 million and u200 million in senior subordinated notes for proceeds of $1,475 million, which included $4 million in premiums.", + "All of BCP Crystal\u2019s U. S. domestic, wholly owned subsidiaries that guarantee BCP Crystal\u2019s obligations under the senior credit facilities guarantee the senior subordinated notes on an unsecured senior subordinated basis.", + "In February 2005, $521 million of the net proceeds of the offering of the Company\u2019s Series A common stock were used to redeem a portion of the senior subordinated notes and $51 million was used to pay the premium associated with the redemption.", + "Baroness Philippine de Rothschild announced an agree\u0002ment to maintain equal ownership of Opus One.", + "Opus One produces fine wines at its Napa Valley winery.", + "The acquisition of Robert Mondavi supports the Com\u0002pany\u2019s strategy of strengthening the breadth of its portfolio across price segments to capitalize on the overall growth in the premium, super-premium and fine wine categories.", + "The Company believes that the acquired Robert Mondavi brand names have strong brand recognition globally.", + "The vast majority of sales from these brands are generated in the United States.", + "The Company is leveraging the Robert Mondavi brands in the United States through its selling, marketing and distribution infrastructure.", + "The Company also intends to further expand distribution for the Robert Mondavi brands in Europe through its Constellation Europe infrastructure.", + "The Robert Mondavi acquisition supports the Com\u0002pany\u2019s strategy of growth and breadth across categories and geographies, and strengthens its competitive position in its core markets.", + "The Robert Mondavi acquisition provides the Company with a greater presence in the growing premium, super-premium and fine wine sectors within the United States and the ability to capitalize on the broader geographic distribution in strategic international markets.", + "In particular, the Company believes there are growth opportunities for premium, super-premium and fine wines in the United Kingdom and other \u201cnew world\u201d wine markets.", + "Total con\u0002sideration paid in cash to the Robert Mondavi shareholders was $1,030.7 million.", + "Additionally, the Company incurred direct acquisition costs of $12.0 million.", + "The purchase price was financed with borrowings under the Company\u2019s 2004 Credit Agreement (as defined in Note 9).", + "In accordance with the purchase method of accounting, the acquired net assets are recorded at fair value at the date of acquisition.", + "The purchase price was based primarily on the estimated future operating results of the Robert Mondavi business, including the factors described above, as well as an estimated benefit from operating cost synergies.", + "The results of operations of the Robert Mondavi busi\u0002ness are reported in the Constellation Wines segment and have been included in the Consolidated Statements of Income since the acquisition date.", + "The following table summarizes the fair values of the assets acquired and liabilities assumed in the Robert Mondavi acquisition at the date of acquisition, as adjusted for the final appraisal:", + "|Current assets|$513,782|\n|Property, plant and equipment|438,140|\n|Other assets|124,450|\n|Trademarks|138,000|\n|Goodwill|634,203|\n|Total assets acquired|1,848,575|\n|Current liabilities|310,919|\n|Long-term liabilities|494,995|\n|Total liabilities assumed|805,914|\n|Net assets acquired|$1,042,661|\n", + "The trademarks are not subject to amortization.", + "None of the goodwill is expected to be deductible for tax purposes.", + "Following the Robert Mondavi acquisition, the Company sold certain of the acquired vineyard properties and related assets, investments accounted for under the equity method, and other winery properties and related assets, during the years ended February 28, 2006, and February 28, 2005.", + "The Company realized net proceeds of $170.8 million from the sale of these assets during the year ended February 28, 2006.", + "Amounts realized during the year ended February 28, 2005, were not material.", + "No gain or loss has been recognized upon the sale of these assets.", + "HARDY ACQUISITION \u2013 On March 27, 2003, the Company acquired control of BRL Hardy Limited, now known as Hardy Wine Company Limited (\u201cHardy\u201d), and on April 9, 2003, the Company completed its acquisition of all of Hardy\u2019s outstanding capital stock.", + "As a result of the acquisi\u0002tion of Hardy, the Company also acquired the remaining 50% ownership of Pacific Wine Partners LLC (\u201cPWP\u201d), the joint venture the Company established with Hardy in July 2001.", + "The acquisition of Hardy along with the remaining interest in PWP is referred to together as the \u201cHardy Acquisition.", + "\u201d Through this acquisition, the Company acquired one of Australia\u2019s largest wine producers with interests in wineries and vineyards in most of Australia\u2019s major wine regions as well as New Zealand and the United States and Hardy\u2019s marketing and sales operations in the United Kingdom.", + "In October 2005, PWP was merged into another subsidiary of the Company.", + "Total consideration paid in cash and Class A Common Stock to the Hardy shareholders was $1,137.4 million.", + "Additionally, the Company recorded direct acquisition costs of $17.2 million.", + "The acquisition date for accounting pur\u0002poses is March 27, 2003.", + "The Company has recorded a $1.6 million reduction in the purchase price to reflect imputed interest between the accounting acquisition date and the final payment of consideration.", + "This charge is included as interest expense in the Consolidated Statement of Income for the year ended February 29, 2004.", + "The cash portion of the purchase price paid to the Hardy shareholders and optionholders ($1,060.2 million) was financed with $660.2 million of borrowings under the Company\u2019s then existing credit agreement and $400.0 million of borrowings under the Company\u2019s then existing bridge loan agreement.", + "Addi\u0002tionally, the Company issued 6,577,826 shares of the Com\u0002pany\u2019s Class A Common Stock, which were valued at $77.2 million based on the simple average of the closing market price of the Company\u2019s Class A Common Stock beginning two days before and ending two days after April 4, 2003, the day the Hardy shareholders elected the form of consid\u0002eration they wished to receive.", + "The purchase price was based primarily on a discounted cash flow analysis that contemplated, among other things, the value of a broader geographic distribution in strategic international markets and a presence in the important Australian winemaking regions.", + "The Company and Hardy have complementary businesses that share a common growth orientation and operating philosophy.", + "The Hardy Acquisition supports the Company\u2019s strategy of growth and breadth across categories" + ], + "question_id": "simplong-test-214", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "by how much did the balance increase from the beginning of 2017 to the end?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables present a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) for 2017 and 2016, respectively:", + "||Level 3|\n|Balance as of January 1, 2017|$140|\n|Actual return on assets|2|\n|Purchases, issuances and settlements, net|136|\n|Balance as of December 31, 2017|$278|\n", + "The Company\u2019s postretirement benefit plans have different levels of funded status and the assets are held under various trusts.", + "The investments and risk mitigation strategies for the plans are tailored specifically for each trust.", + "In setting new strategic asset mixes, consideration is given to the likelihood that the selected asset allocation will effectively fund the projected plan liabilities and meet the risk tolerance criteria of the Company.", + "The Company periodically updates the long-term, strategic asset allocations for these plans through asset liability studies and uses various analytics to determine the optimal asset allocation.", + "Considerations include plan liability characteristics, liquidity needs, funding requirements, expected rates of return and the distribution of returns.", + "Strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes and, within asset classes, strategies are employed to provide adequate returns, diversification and liquidity.", + "In 2012, the Company implemented a de-risking strategy for the American Water Pension Plan after conducting an asset-liability study to reduce the volatility of the funded status of the plan.", + "As part of the de-risking strategy, the Company revised the asset allocations to increase the matching characteristics of fixed-income assets relative to liabilities.", + "The fixed income portion of the portfolio was designed to match the bond-like and long-dated nature of the postretirement liabilities.", + "In 2017, the Company further increased its exposure to liability-driven investing and increased its fixed-income allocation to 50%, up from 40%, in an effort to further decrease the funded status volatility of the plan and hedge the portfolio from movements in interest rates.", + "In 2012, the Company also implemented a de-risking strategy for the medical bargaining trust within the plan to minimize volatility.", + "In 2017, the Company conducted a new asset-liability study that indicated medical trend inflation that outpaced the Consumer Price Index by more than 2% for the last 20 years.", + "Given continuously rising medical costs, the Company decided to increase the equity exposure of the portfolio to 30%, up from 20%, while reducing the fixed-income portion of the portfolio from 80% to 70%.", + "The Company also conducted an asset-liability study for the Post-Retirement Non-Bargaining Medical Plan.", + "Its allocation was adjusted to make it more conservative, reducing the equity allocation from 70% to 60% and increasing the fixed\u0002income allocation from 30% to 40%.", + "The Post-Retirement Medical Non-Bargaining plan\u2019s equity allocation was reduced due to the cap on benefits for some non-union participants and resultant reduction in the plan\u2019s liabilities.", + "These changes will take place in 2018.", + "The Company engages third party investment managers for all invested assets.", + "Managers are not permitted to invest outside of the asset class (e. g. fixed income, equity, alternatives) or strategy for which they have been appointed.", + "Investment management agreements and recurring performance and attribution analysis are used as tools to ensure investment managers invest solely within the investment strategy they have been provided.", + "Futures and options may be used to adjust portfolio duration to align with a plan\u2019s targeted investment policy", + "Table VIII Allocation of the Allowance for Credit Losses by Product Type", + "||December 31|\n||2013|2012|2011|2010|2009|\n|(Dollars in millions)|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|Amount|Percentof Total|\n|Allowance for loan and lease losses|||||||||||\n|Residential mortgage|$4,084|23.43%|$7,088|29.31%|$7,985|23.64%|$6,365|15.20%|$5,640|15.17%|\n|Home equity|4,434|25.44|7,845|32.45|13,094|38.76|12,887|30.77|10,116|27.19|\n|U.S. credit card|3,930|22.55|4,718|19.51|6,322|18.71|10,876|25.97|6,017|16.17|\n|Non-U.S. credit card|459|2.63|600|2.48|946|2.80|2,045|4.88|1,581|4.25|\n|Direct/Indirect consumer|417|2.39|718|2.97|1,153|3.41|2,381|5.68|4,227|11.36|\n|Other consumer|99|0.58|104|0.43|148|0.44|161|0.38|204|0.55|\n|Total consumer|13,423|77.02|21,073|87.15|29,648|87.76|34,715|82.88|27,785|74.69|\n|U.S. commercial-1|2,394|13.74|1,885|7.80|2,441|7.23|3,576|8.54|5,152|13.85|\n|Commercial real estate|917|5.26|846|3.50|1,349|3.99|3,137|7.49|3,567|9.59|\n|Commercial lease financing|118|0.68|78|0.32|92|0.27|126|0.30|291|0.78|\n|Non-U.S. commercial|576|3.30|297|1.23|253|0.75|331|0.79|405|1.09|\n|Total commercial-2|4,005|22.98|3,106|12.85|4,135|12.24|7,170|17.12|9,415|25.31|\n|Allowance for loan and lease losses|17,428|100.00%|24,179|100.00%|33,783|100.00%|41,885|100.00%|37,200|100.00%|\n|Reserve for unfunded lending commitments|484||513||714||1,188||1,487||\n|Allowance for credit losses-3|$17,912||$24,692||$34,497||$43,073||$38,687||\n", + "(1) Includes allowance for loan and lease losses for U. S. small business commercial loans of $462 million, $642 million, $893 million, $1.5 billion and $2.4 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(2) Includes allowance for loan and lease losses for impaired commercial loans of $277 million, $475 million, $545 million, $1.1 billion and $1.2 billion at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.", + "(3) Includes $2.5 billion, $5.5 billion, $8.5 billion, $6.4 billion and $3.9 billion of valuation allowance included as part of the allowance for credit losses related to PCI loans at December 31, 2013, 2012, 2011, 2010 and 2009, respectively", + "At December 31, 2012, we had $3.7 billion in consolidated cash and $3.5 billion in long-term debt.", + "In February 2012, we sold $3.0 billion in senior notes in three tranches with a weighted average interest rate of approximately three percent.", + "We used the proceeds from this offering, plus cash on hand, to redeem the remaining $3.0 billion of our 8.375% Senior Notes.", + "Refer to \u201cCapital Resources and Liquidity \u2014 Financing Activities\u201d and to Note 9 for further discussion of these transactions.", + "In February 2013, we entered into a new senior unsecured revolving credit facility, which will refinance and replace our existing revolving credit facility upon completion of the proposed acquisition of PXP.", + "No amounts are currently available to us under the new revolving credit facility.", + "Refer to Note 20 for further discussion.", + "In February 2012, our Board of Directors (the Board) authorized an increase in the cash dividend on our common stock to an annual rate of $1.25 per share ($0.3125 per share quarterly), and we paid dividends on our common stock totaling $1.1 billion in 2012.", + "Refer to Note 11 for further discussion.", + "At current copper prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects and return cash to shareholders through dividends on our common stock.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the years ended December 31, 2012, 2011 and 2010.", + "OUTLOOK We view the long-term outlook for our business positively, supported by limitations on supplies of copper and by the requirements for copper in the world\u2019s economy.", + "We will continue to adjust our operating strategy as market conditions change.", + "Our financial results vary as a result of fluctuations in market prices for copper, gold and molybdenum and other factors.", + "World market prices for these commodities have fluctuated historically and are affected by numerous factors beyond our control.", + "Because we cannot control the price of our products, the key measures that management focuses on in operating our business are sales volumes, unit net cash costs and operating cash flow.", + "Discussion of the outlook for each of these measures follows.", + "Sales Volumes.", + "Following are our projected consolidated sales volumes for 2013 and actual consolidated sales volumes for 2012:", + "||2013 (Projected)||2012 (Actual)|\n|Copper(millions of recoverable pounds):||||\n|North America copper mines|1,445||1,351|\n|South America mining|1,325||1,245|\n|Indonesia mining|1,120||716|\n|Africa mining|410||336|\n||4,300||3,648|\n|Gold(thousands of recoverable ounces):||||\n|Indonesia mining|1,240||915|\n|North and South America mining|140||95|\n||1,380||1,010|\n|Molybdenum(millions of recoverable pounds)|90|a|83|\n", + "a.", + "Includes projected sales of 40 million pounds of molybdenum produced at our North and South America copper mines.", + "Projected copper sales for 2013 are expected to be higher than 2012 sales primarily reflecting access to higher grade ore in Indonesia and South America and higher production in North America and Africa.", + "Projected 2013 gold sales volumes are expected to be higher than 2012, primarily reflecting higher ore grades at Grasberg.", + "Molybdenum sales in 2013 are expected to be higher than 2012, primarily reflecting higher production from our Climax molybdenum mine.", + "Projected sales volumes are dependent on a number of factors, including achievement of targeted mining rates, the successful operation of production facilities, the impact of weather conditions and other factors.", + "Unit Net Cash Costs.", + "We expect to gain access to higher grade ore at Grasberg in late 2013, which will result in higher copper and gold production volumes (approximately 29 percent of 2013 consolidated copper sales volumes and 37 percent of consolidated gold sales volumes are expected in fourth-quarter 2013).", + "Quarterly unit net cash costs vary with fluctuations in sales volumes and average realized prices for gold and molybdenum, and are expected to be lower in late 2013 as we gain access to higher grade ore at Grasberg.", + "Assuming average prices of $1,700 per ounce of gold and $11 per pound of molybdenum and achievement of current 2013 sales volume and cost estimates, consolidated unit net cash costs (net of by-product credits) are expected to average $1.35 per pound in 2013.", + "The impact of price changes in 2013 on consolidated unit net cash costs would approximate $0.015 per pound for each $50 per ounce change in the average price of gold and $0.015 per pound for each $2 per pound change in the average price of molybdenum.", + "Refer to \u201cConsolidated Results \u2013 Production and Delivery Costs\u201d for further discussion of consolidated production and delivery costs.", + "Operating Cash Flows.", + "Our operating cash flows vary with prices realized from copper, gold and molybdenum sales, our sales volumes, production costs, income taxes and other working capital changes and other factors.", + "Based on current sales volume and cost estimates and assuming average prices of $3.65 per", + "Net Operating Revenues Year Ended December 31, 2014 versus Year Ended December 31, 2013 The Company\u2019s net operating revenues decreased $856 million, or 2 percent.", + "The following table illustrates, on a percentage basis, the estimated impact of key factors resulting in the increase (decrease) in net operating revenues for each of our operating segments:" + ], + "question_id": "simplong-test-215", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the amount gap between FES and OE in terms of Expenses on Support services? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE AES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) DECEMBER 31, 2010, 2009, AND 2008 (3) Multilateral loans include loans funded and guaranteed by bilaterals, multilaterals, development banks and other similar institutions.", + "(4) Non-recourse debt of $708 million as of December 31, 2009 was excluded from non-recourse debt and included in current and long-term liabilities of held for sale and discontinued businesses in the accompanying Consolidated Balance Sheets.", + "Non-recourse debt as of December 31, 2010 is scheduled to reach maturity as set forth in the table below:", + "|December 31,|Annual Maturities (in millions)|\n|2011|$2,577|\n|2012|657|\n|2013|953|\n|2014|1,839|\n|2015|1,138|\n|Thereafter|7,957|\n|Total non-recourse debt|$15,121|\n", + "As of December 31, 2010, AES subsidiaries with facilities under construction had a total of approximately $432 million of committed but unused credit facilities available to fund construction and other related costs.", + "Excluding these facilities under construction, AES subsidiaries had approximately $893 million in a number of available but unused committed revolving credit lines to support their working capital, debt service reserves and other business needs.", + "These credit lines can be used in one or more of the following ways: solely for borrowings; solely for letters of credit; or a combination of these uses.", + "The weighted average interest rate on borrowings from these facilities was 3.24% at December 31, 2010.", + "Non-Recourse Debt Covenants, Restrictions and Defaults The terms of the Company\u2019s non-recourse debt include certain financial and non-financial covenants.", + "These covenants are limited to subsidiary activity and vary among the subsidiaries.", + "These covenants may include but are not limited to maintenance of certain reserves, minimum levels of working capital and limitations on incurring additional indebtedness.", + "Compliance with certain covenants may not be objectively determinable.", + "As of December 31, 2010 and 2009, approximately $803 million and $653 million, respectively, of restricted cash was maintained in accordance with certain covenants of the non-recourse debt agreements, and these amounts were included within \u201cRestricted cash\u201d and \u201cDebt service reserves and other deposits\u201d in the accompanying Consolidated Balance Sheets.", + "Various lender and governmental provisions restrict the ability of certain of the Company\u2019s subsidiaries to transfer their net assets to the Parent Company.", + "Such restricted net assets of subsidiaries amounted to approximately $5.4 billion at December 31, 2010.", + "||December 31, 2011|December 31, 2010|\n||Carrying Value|Fair Value|Carrying Value|Fair Value|\n||(In millions)|\n|FirstEnergy-1|$17,165|$19,320|$13,928|$14,845|\n|FES|3,675|3,931|4,279|4,403|\n|OE|1,157|1,434|1,159|1,321|\n|CEI|1,831|2,162|1,853|2,035|\n|TE|600|741|600|653|\n|JCP&L|1,777|2,080|1,810|1,962|\n|Met-Ed|729|824|742|821|\n|Penelec|1,120|1,251|1,120|1,189|\n", + "The fair values of long-term debt and other long-term obligations reflect the present value of the cash outflows relating to those securities based on the current call price, the yield to maturity or the yield to call, as deemed appropriate at the end of each respective period.", + "The yields assumed were based on securities with similar characteristics offered by corporations with credit ratings similar to those of FirstEnergy and its subsidiaries listed above.", + "INVESTMENTS All temporary cash investments purchased with an initial maturity of three months or less are reported as cash equivalents on the Consolidated Balance Sheets at cost, which approximates their fair market value.", + "Investments other than cash and cash equivalents include held-to-maturity securities, available-for-sale securities and notes receivable.", + "FE and its subsidiaries periodically evaluate their investments for other-than-temporary impairment.", + "They first consider their intent and ability to hold an equity investment until recovery and then consider, among other factors, the duration and the extent to which the security\u2019s fair value has been less than cost and the near-term financial prospects of the security issuer when evaluating an investment for impairment.", + "For debt securities, FE and its subsidiaries consider their intent to hold the security, the likelihood that they will be required to sell the security before recovery of their cost basis and the likelihood of recovery of the security\u2019s entire amortized cost basis.", + "Unrealized gains applicable to the decommissioning trusts of FES, OE and TE are recognized in OCI because fluctuations in fair value will eventually impact earnings while unrealized losses are recorded to earnings.", + "The decommissioning trusts of JCP&L, Met\u0002Ed and Penelec are subject to regulatory accounting.", + "Net unrealized gains and losses are recorded as regulatory assets or liabilities because the difference between investments held in the trust and the decommissioning liabilities will be recovered from or refunded to customers.", + "The investment policy for the NDT funds restricts or limits the trusts\u2019 ability to hold certain types of assets including private or direct placements, warrants, securities of FirstEnergy, investments in companies owning nuclear power plants, financial derivatives, preferred stocks, securities convertible into common stock and securities of the trust funds\u2019 custodian or managers and their parents or subsidiaries.", + "Available-For-Sale Securities FES and the Utility Registrants hold debt and equity securities within their NDT, nuclear fuel disposal trusts and NUG trusts.", + "These trust investments are considered available-for-sale securities at fair market value.", + "FES and the Utility Registrants have no securities held for trading purposes.", + "The following table summarizes the amortized cost basis, unrealized gains and losses and fair values of investments held in NDT, nuclear fuel disposal trusts and NUG trusts as of December 31, 2011 and 2010:", + "2011.", + "On August 25, 2011, the Allegheny County Court denied all Motions for Post-Trial relief and the May 2, 2011 verdict became final.", + "On August 26, 2011, ICG posted bond and filed a Notice of Appeal.", + "Briefing on the Appeal is concluded with oral argument expected in May or June of 2012.", + "AE Supply and MP intend to vigorously pursue this matter through appeal.", + "Other Legal Matters In February 2010, a class action lawsuit was filed in Geauga County Court of Common Pleas against FirstEnergy, CEI and OE seeking declaratory judgment and injunctive relief, as well as compensatory, incidental and consequential damages, on behalf of a class of customers related to the reduction of a discount that had previously been in place for residential customers with electric heating, electric water heating, or load management systems.", + "The reduction in the discount was approved by the PUCO.", + "In March 2010, the named-defendant companies filed a motion to dismiss the case due to the lack of jurisdiction of the court of common pleas.", + "The court granted the motion to dismiss on September 7, 2010.", + "The plaintiffs appealed the decision to the Court of Appeals of Ohio.", + "On October 21, 2011, the Court of Appeals rendered its decision affirming the dismissal of the Complaint by the Court of Common Pleas on all counts except for one relating to an allegation of fraud.", + "The Companies timely filed a notice of appeal on December 5, 2011 with the Supreme Court of Ohio challenging this one aspect of the Court of Appeals opinion.", + "The Supreme Court of Ohio has not yet acted on the appeal.", + "There are various lawsuits, claims (including claims for asbestos exposure) and proceedings related to FirstEnergy's normal business operations pending against FirstEnergy and its subsidiaries.", + "The other potentially material items not otherwise discussed above are described under Note 15, Regulatory Matters.", + "FirstEnergy accrues legal liabilities only when it concludes that it is probable that it has an obligation for such costs and can reasonably estimate the amount of such costs.", + "In cases where FirstEnergy determines that it is not probable, but reasonably possible that it has a material obligation, it discloses such obligations and the possible loss or range of loss and if such estimate can be made.", + "If it were ultimately determined that FirstEnergy or its subsidiaries have legal liability or are otherwise made subject to liability based on any of the matters referenced above, it could have a material adverse effect on FirstEnergy's or its subsidiaries' financial condition, results of operations and cash flows.17.", + "TRANSACTIONS WITH AFFILIATED COMPANIES FES\u2019 and the Registrant Utilities\u2019 operating revenues, operating expenses, investment income and interest expenses include transactions with affiliated companies.", + "These affiliated company transactions include affiliated company power sales agreements between FirstEnergy's competitive and regulated companies, support service billings, interest on affiliated company notes including the money pools and other transactions.", + "FirstEnergy's competitive companies provide power through affiliated company power sales to meet a portion of the Ohio and Pennsylvania Companies' POLR and default service requirements.", + "Prior to 2011, Met-Ed and Penelec had a partial requirement PSA with FES to meet a portion of their POLR obligations.", + "The primary affiliated company transactions for FES and the Registrant Utilities during the three years ended December 31, 2011 are as follows:", + "|2011|FES|OE|CEI|TE|JCP&L|Met-Ed|Penelec|\n||(In millions)|\n|Revenues:||||||||\n|Electric sales to affiliates|$752|$200|$2|$55|$\u2014|$\u2014|$\u2014|\n|Ground lease with ATSI|\u2014|12|7|2|\u2014|\u2014|\u2014|\n|Other|80|1|3|\u2014|\u2014|10|\u2014|\n|Expenses:||||||||\n|Purchased power from affiliates|252|287|143|94|\u2014|143|208|\n|Fuel|37|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Support services|655|130|51|53|90|53|54|\n|Investment Income:||||||||\n|Interest income from affiliates|\u2014|\u2014|\u2014|9|\u2014|\u2014|\u2014|\n|Interest income from FE|2|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Interest Expense:||||||||\n|Interest expense to affiliates|5|4|10|1|4|3|2|\n|Interest expense to FE|1|\u2014|\u2014|\u2014|1|1|1|\n", + "Energy Services.", + "Prior to the change in composition of business segments, FirstEnergy's business was comprised of two reportable operating segments.", + "The Energy Delivery Services segment was comprised of FirstEnergy's then eight existing utility operating companies that transmit and distribute electricity to customers and purchase power to serve their POLR and default service requirements.", + "The Competitive Energy Services segment was comprised of FES, which supplies electric power to end-use customers through retail and wholesale arrangements.", + "The \u201cOther/Corporate\u201d amounts consisted of corporate items and other businesses that were below the quantifiable threshold for separate disclosure.", + "Disclosures for FirstEnergy's operating segments for 2010 have been reclassified to conform to the revised presentation.", + "The changes in FirstEnergy's reportable segments during 2011 consisted primarily of the following: ?", + "Energy Delivery Services was renamed Regulated Distribution and the operations of MP, PE and WP, which were acquired as part of the merger with AE, and certain regulatory asset recovery mechanisms formerly included in the \u201cOther/Corporate\u201d segment, were placed into this segment. ?", + "A new Regulated Independent Transmission segment was created consisting of ATSI, and the operations of TrAIL and FirstEnergy's interest in PATH; TrAIL and PATH were acquired as part of the merger with AE.", + "The transmission assets and operations of JCP&L, Met-Ed, Penelec, MP, PE and WP remained within the Regulated Distribution segment. ?", + "AE Supply, an operator of generation facilities that was acquired as part of the merger with AE, was placed into the Competitive Energy Services segment with FES.", + "Regulated Distribution distributes electricity through our ten utility distribution companies, serving approximately 6 million customers within 67,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York, and purchases power for its POLR, SOS and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.", + "This segment also includes the transmission operations of JCP&L, Met-Ed, Penelec, WP, MP and PE and the regulated electric generation facilities in West Virginia and New Jersey which MP and JCP&L, respectively, own or contractually control.", + "Its results reflect the commodity costs of securing electric generation and the deferral and amortization of certain fuel costs.", + "The service areas of our regulated distribution utilities are summarized below:" + ], + "question_id": "simplong-test-216", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will adjusted total assets be like in 2018 if it develops with the same increasing rate as current? (in dollars in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||December 31,|\n|(in millions)|2017|2016|2015|2014|2013|\n|Balance sheet data:||||||\n|Cash and cash equivalents|$6,894|$6,091|$6,083|$5,723|$4,390|\n|Goodwill and intangible assets, net|30,609|30,481|30,495|30,305|30,481|\n|Total assets-1|220,217|220,177|225,261|239,792|219,859|\n|Less:||||||\n|Separate account assets-2|149,937|149,089|150,851|161,287|155,113|\n|Collateral held under securities lending agreements-2|24,190|27,792|31,336|33,654|21,788|\n|Consolidated investment vehicles-3|580|375|678|3,787|2,714|\n|Adjusted total assets|$45,510|$42,921|$42,396|$41,064|$40,244|\n|Borrowings|5,014|4,915|4,930|4,922|4,925|\n|Total BlackRock, Inc. stockholders\u2019 equity|$31,825|$29,098|$28,503|$27,366|$26,460|\n|Assets under management:||||||\n|Equity:||||||\n|Active|$311,209|$275,033|$281,319|$292,802|$317,262|\n|iSharesETFs|1,329,610|951,252|823,156|790,067|718,135|\n|Non-ETF index|1,730,822|1,430,891|1,319,297|1,368,242|1,282,298|\n|Equity subtotal|3,371,641|2,657,176|2,423,772|2,451,111|2,317,695|\n|Fixed income:||||||\n|Active|815,135|749,996|719,653|701,324|652,209|\n|iSharesETFs|395,252|314,707|254,190|217,671|178,835|\n|Non-ETF index|645,078|507,662|448,525|474,658|411,142|\n|Fixed income subtotal|1,855,465|1,572,365|1,422,368|1,393,653|1,242,186|\n|Multi-asset|480,278|395,007|376,336|377,837|341,214|\n|Alternatives:||||||\n|Core|98,533|88,630|92,085|88,006|85,026|\n|Currency and commodities-4|30,814|28,308|20,754|23,234|26,088|\n|Alternatives subtotal|129,347|116,938|112,839|111,240|111,114|\n|Long-term|5,836,731|4,741,486|4,335,315|4,333,841|4,012,209|\n|Cash management|449,949|403,584|299,884|296,353|275,554|\n|Advisory-5|1,515|2,782|10,213|21,701|36,325|\n|Total|$6,288,195|$5,147,852|$4,645,412|$4,651,895|$4,324,088|\n", + "(1) Includes separate account assets that are segregated funds held for purposes of funding individual and group pension contracts and collateral held under securities lending agreements related to these assets that have equal and offsetting amounts recorded in liabilities and ultimately do not impact BlackRock\u2019s stockholders\u2019 equity or cash flows.", + "(2) Equal and offsetting amounts, related to separate account assets and collateral held under securities lending agreements, are recorded in liabilities.", + "(3) Amounts include assets held by consolidated sponsored investment products.", + "During 2015, the Company adopted new accounting guidance on consolidations effective January 1, 2015 using the modified retrospective method.", + "As a result of the adoption, the Company\u2019s balance sheet at December 31, 2015 reflects the deconsolidation of the Company\u2019s previously consolidated collateralized loan obligations.", + "(4) Amounts include commodity iShares ETFs.", + "(5) Advisory AUM represents long-term portfolio liquidation assignments.", + "||GAAP|As adjusted|\n|(in millions)|2017|2016|2015|2017|2016|2015|\n|Operating income-1|$5,272|$4,570|$4,664|$5,287|$4,674|$4,695|\n|Total nonoperating income (expense)(1)(2)|-32|-108|-69|-32|-108|-70|\n|Income before income taxes-2|$5,240|$4,462|$4,595|$5,255|$4,566|$4,625|\n|Income tax expense-3|$270|$1,290|$1,250|$1,539|$1,352|$1,312|\n|Effective tax rate-3|5.2%|28.9%|27.2%|29.3%|29.6%|28.4%|\n", + "(1) See Non-GAAP Financial Measures for further information on and reconciliation of as adjusted items.", + "(2) Net of net income (loss) attributable to NCI.", + "(3) GAAP income tax expense and effective tax rate for 2017 reflects $1.2 billion of a net tax benefit related to the 2017 Tax Act.", + "The Company\u2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions, which the Company expects to be fairly consistent in the near term.", + "The significant foreign jurisdictions that have lower statutory tax rates than the U. S. federal statutory rate of 35% include the United Kingdom, Channel Islands, Ireland and Netherlands.2017.", + "Income tax expense (GAAP) reflected: ?", + "the following amounts related to the 2017 Tax Act: ?", + "$106 million tax expense related to the revaluation of certain deferred income tax assets; ?", + "$1,758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities; and ?", + "$477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits. ?", + "a noncash expense of $16 million, primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes; and ?", + "$173 million discrete tax benefits, primarily related to stock-based compensation awards, including $151 million related to the adoption of new accounting guidance related to stock-based compensation awards.", + "See Note 2, Significant Accounting Policies, for further information.", + "The as adjusted effective tax rate of 29.3% for 2017 excluded the noncash deferred tax revaluation benefit of $1,758 million and noncash expense of $16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.", + "In addition, the deemed repatriation tax expense of $477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented.2016.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $30 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $65 million of nonrecurring items, including the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 29.6% for 2016 excluded the net noncash benefit of $30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.2015.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $54 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $75 million of nonrecurring items, primarily due to the realization of losses from changes in the Company\u2019s organizational tax structure and the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 28.4% for 2015 excluded the net noncash benefit of $54 million mentioned above, as it will not have a cash flow impact and to ensure comparability among periods presented.", + "BALANCE SHEET OVERVIEW As Adjusted Balance Sheet The following table presents a reconciliation of the consolidated statement of financial condition presented on a GAAP basis to the consolidated statement of financial condition, excluding the impact of separate account assets and separate account collateral held under securities lending agreements (directly related to lending separate account securities) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds, including consolidated VIEs.", + "The Company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders\u2019 equity or cash flows.", + "Management views the as adjusted balance sheet, which contains non-GAAP financial measures, as an economic presentation of the Company\u2019s total assets and liabilities; however, it does not advocate that investors consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.", + "Separate Account Assets and Liabilities and Separate Account Collateral Held under Securities Lending Agreements Separate account assets are maintained by BlackRock Life Limited, a wholly owned subsidiary of the Company that is a registered life insurance company in the United Kingdom, and represent segregated assets held for purposes of funding individual and group pension contracts.", + "The", + "when the likelihood of clawback is considered mathematically improbable.", + "The Company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria.", + "At December 31, 2017 and 2016, the Company had $219 million and $152 million, respectively, of deferred carried interest recorded in other liabilities/other liabilities of consolidated VIEs on the consolidated statements of financial condition.", + "A portion of the deferred carried interest liability will be paid to certain employees.", + "The ultimate timing of the recognition of performance fee revenue, if any, for these products is unknown.", + "The following table presents changes in the deferred carried interest liability (including the portion related to consolidated VIEs) for 2017 and 2016:", + "|(in millions)|2017|2016|\n|Beginning balance|$152|$143|\n|Net increase (decrease) in unrealized allocations|75|37|\n|Performance fee revenue recognized|-21|-28|\n|Acquisition|13|\u2014|\n|Ending balance|$219|$152|\n", + "For 2017, 2016 and 2015, performance fee revenue (which included recognized carried interest) totaled $594 million, $295 million and $621 million, respectively.", + "Fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the Aladdin platform or on a fixed-rate basis.", + "For 2017, 2016 and 2016, technology and risk management revenue totaled $677 million, $595 million and $528 million, respectively.", + "Adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of BlackRock\u2019s investment advisory and administration revenue is calculated based on AUM and since the Company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable.", + "Accounting Developments Recent Accounting Pronouncements Not Yet Adopted.", + "Revenue from Contracts with Customers.", + "In May 2014, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Accounting Standards Update (\u201cASU\u201d) 2014-09, Revenue from Contracts with Customers (\u201cASU 2014-09\u201d).", + "ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance.", + "The guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements.", + "The key changes in the standard that impact the Company\u2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs.", + "The most significant of these changes relates to the presentation of certain distribution costs, which are currently presented net against revenues (contra-revenue) and will be presented as an expense on a gross basis.", + "The Company adopted ASU 2014-09 effective January 1, 2018 on a full retrospective basis, which will require 2016 and 2017 to be restated in future filings.", + "The cumulative effect adjustment to the 2016 opening retained earnings was not material.", + "The Company currently expects the net gross up to revenue to be approximately $1 billion with a corresponding gross up to expense for both 2016 and 2017.", + "Consequently, the Company expects its GAAP operating margin to decline upon adoption due to the gross up of revenue.", + "However, no material impact is expected on the Company\u2019s as adjusted operating margin.", + "For accounting pronouncements that the Company adopted during the year ended December 31, 2017 and for additional recent accounting pronouncements not yet adopted, see Note 2, Significant Accounting Policies, in the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Item 7a.", + "Quantitative and Qualitative Disclosures about Market Risk AUM Market Price Risk.", + "BlackRock\u2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of AUM and, in some cases, performance fees expressed as a percentage of the returns realized on AUM.", + "At December 31, 2017, the majority of the Company\u2019s investment advisory and administration fees were based on average or period end AUM of the applicable investment funds or separate accounts.", + "Movements in equity market prices, interest rates/credit spreads, foreign exchange rates or all three could cause the value of AUM to decline, which would result in lower investment advisory and administration fees.", + "Corporate Investments Portfolio Risks.", + "As a leading investment management firm, BlackRock devotes significant resources across all of its operations to identifying, measuring, monitoring, managing and analyzing market and operating risks, including the management and oversight of its own investment portfolio.", + "The Board of Directors of the Company has adopted guidelines for the review of investments to be made by the Company, requiring, among other things, that investments be reviewed by certain senior officers of the Company, and that certain investments may be referred to the Audit Committee or the Board of Directors, depending on the circumstances, for approval.", + "In the normal course of its business, BlackRock is exposed to equity market price risk, interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments.", + "BlackRock has investments primarily in sponsored investment products that invest in a variety of asset classes, including real assets, private equity and hedge funds.", + "Investments generally are made for co-investment purposes, to establish a performance track record, to hedge exposure to certain deferred compensation plans or for regulatory purposes.", + "Currently, the Company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments.", + "At December 31, 2017, the Company had outstanding total return swaps with an aggregate notional value of approximately $587 million.", + "At December 31, 2017, there were no outstanding interest rate swaps.", + "There are significant costs associated with the Recall Transaction.", + "We currently estimate total operating and capital expenditures associated with the Recall Transaction to be approximately $380.0 million, the majority of which is expected to be incurred by the end of 2018.", + "This amount consists of approximately $80.0 million of Recall Deal Close Costs and approximately $300.0 million of Recall Integration Costs.", + "Of these amounts, approximately $47.1 million was incurred through December 31, 2015 ($24.7 million of Recall Deal Close Costs and $22.4 million of Recall Integration Costs), including approximately $47.0 million of operating expenditures and approximately $0.1 million of capital expenditures.", + "Additionally, upon closing of the Recall Transaction we will incur costs associated with (i) the cash components of the purchase price noted above and (ii) the payoff of outstanding borrowings under Recall\u2019s existing revolving credit facility.", + "We expect the total cost to close the Recall Transaction (including Recall Deal Close Costs, the cash components of the purchase price and the payoff of Recall\u2019s revolving credit facility, but excluding Recall Integration Costs) to be approximately $1,100.0 million.", + "We intend to fund these costs through a combination of cash on hand, borrowings under our Revolving Credit Facility and, as necessary, public or private debt financing.", + "Contractual Obligations The following table summarizes our contractual obligations as of December 31, 2015 and the anticipated effect of these obligations on our liquidity in future years (in thousands):" + ], + "question_id": "simplong-test-217", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage change in common shareholders 2019 equity due to the adjustments presented in the table to reach basel iii cet1?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis The table below presents a reconciliation of our common shareholders\u2019 equity to the estimated Basel III Advanced CET1 on a fully phased-in basis.", + "|$ in millions|As of December 2013|\n|Common shareholders\u2019 equity|$ 71,267|\n|Goodwill|-3,705|\n|Identifiable intangible assets|-671|\n|Deferred tax liabilities|908|\n|Goodwill and identifiable intangible assets, net of deferred tax liabilities|-3,468|\n|Deductions for investments in nonconsolidated financial institutions1|-9,091|\n|Otheradjustments2|-489|\n|Basel III CET1|$ 58,219|\n|Basel III Advanced RWAs|$594,662|\n|Basel III Advanced CET1 Ratio|9.8%|\n", + "1.", + "This deduction, which represents the fully phased-in requirement, is the amount by which our investments in the capital of nonconsolidated financial institutions exceed certain prescribed thresholds.", + "During both the transitional period and thereafter, no deduction will be required if the applicable proportion of our investments in the capital of nonconsolidated financial institutions falls below the prescribed thresholds.2.", + "Principally includes credit valuation adjustments on derivative liabilities and debt valuation adjustments, as well as other required credit risk\u0002based deductions.", + "In addition, beginning with the first quarter of 2015, subject to transitional provisions, we will also be required to disclose ratios calculated under the Standardized approach.", + "Our estimated CET1 ratio under the Standardized approach (Standardized CET1 ratio) on a fully phased-in basis was approximately 60 basis points lower than our estimated Basel III Advanced CET1 ratio in the table above.", + "Both the Basel III Advanced CET1 ratio and the Standardized CET1 ratio are subject to transitional provisions.", + "Reflecting the transitional provisions that became effective January 1, 2014, our estimated Basel III Advanced CET1 ratio and our estimated Standardized CET1 ratio are approximately 150 basis points higher than the respective CET1 ratios on a fully phased-in basis as of December 2013.", + "Effective January 1, 2014, Group Inc. \u2019s capital and leverage ratios are calculated under, and subject to the minimums as defined in, the Revised Capital Framework.", + "The changes to the definition of capital and minimum ratios, subject to transitional provisions, were effective beginning January 1, 2014.", + "RWAs are based on Basel I Adjusted, as defined in Note 20 to the consolidated financial statements.", + "The firm will transition to Basel III beginning on April 1, 2014.", + "Including the impact of the changes to the definition of regulatory capital and reflecting the transitional provisions effective in 2014, our estimated CET1 ratio (CET1 to RWAs on a Basel I Adjusted basis) as of December 2013 would have been essentially unchanged as compared to our Tier 1 common ratio under Basel I.", + "Regulatory Leverage Ratios.", + "The Revised Capital Framework increased the minimum Tier 1 leverage ratio applicable to us from 3% to 4% effective January 1, 2014.", + "In addition, the Revised Capital Framework will introduce a new Tier 1 supplementary leverage ratio (supplementary leverage ratio) for Advanced approach banking organizations.", + "The supplementary leverage ratio compares Tier 1 capital (as defined under the Revised Capital Framework) to a measure of leverage exposure, defined as the sum of the firm\u2019s assets less certain CET1 deductions plus certain off-balance-sheet exposures, including a measure of derivatives exposures and commitments.", + "The Revised Capital Framework requires a minimum supplementary leverage ratio of 3%, effective January 1, 2018, but with disclosure required beginning in the first quarter of 2015.", + "In addition, subsequent to the approval of the Revised Capital Framework, the Agencies issued a proposal to increase the minimum supplementary leverage ratio requirement for the largest U. S. banks (those deemed to be global systemically important banking institutions (G-SIBs) under the Basel G-SIB framework).", + "These proposals would require the firm and other G-SIBs to meet a 5% supplementary leverage ratio (comprised of the minimum requirement of 3% plus a 2% buffer).", + "As of December 2013, our estimated supplementary leverage ratio based on the Revised Capital Framework approximates this proposed minimum.", + "In addition, the Basel Committee recently finalized revisions that would increase the size of the leverage exposure for purposes of the supplementary leverage ratio, but would retain a minimum supplementary leverage ratio requirement of 3%.", + "It is not known with certainty at this point whether the U. S. regulators will adopt this revised definition of leverage into their rules and proposals for the supplementary leverage ratio.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements Gains and Losses on Financial Assets and Financial Liabilities Accounted for at Fair Value Under the Fair Value Option The table below presents the gains and losses recognized in earnings as a result of the firm electing to apply the fair value option to certain financial assets and financial liabilities.", + "These gains and losses are included in \u201cMarket making\u201d and \u201cOther principal transactions.", + "\u201d The table below also includes gains and losses on the embedded derivative component of hybrid financial instruments included in unsecured short-term borrowings, unsecured long-term borrowings and deposits.", + "These gains and losses would have been recognized under other U. S. GAAP even if the firm had not elected to account for the entire hybrid financial instrument at fair value.", + "||Year Ended December|\n|$ in millions|2016|2015|2014|\n|Unsecured short-term borrowings|$-1,028|$ 346|$-1,180|\n|Unsecured long-term borrowings|584|771|-592|\n|Other liabilities and accrued expenses|-55|-684|-441|\n|Other|-630|-217|-366|\n| Total|$-1,129|$ 216|$-2,579|\n", + "In the table above: \u2030 Gains/(losses) exclude contractual interest, which is included in \u201cInterest income\u201d and \u201cInterest expense,\u201d for all instruments other than hybrid financial instruments.", + "See Note 23 for further information about interest income and interest expense.", + "\u2030 Unsecured short-term borrowings includes gains/(losses) on the embedded derivative component of hybrid financial instruments of $(1.05) billion for 2016, $339 million for 2015 and $(1.22) billion for 2014, respectively.", + "\u2030 Unsecured long-term borrowings includes gains/(losses) on the embedded derivative component of hybrid financial instruments of $737 million for 2016, $653 million for 2015 and $(697) million for 2014, respectively.", + "\u2030 Other liabilities and accrued expenses includes gains/ (losses) on certain subordinated liabilities of consolidated VIEs.", + "\u2030 Other primarily consists of gains/(losses) on receivables from customers and counterparties, deposits and other secured financings.", + "Excluding the gains and losses on the instruments accounted for under the fair value option described above, \u201cMarket making\u201d and \u201cOther principal transactions\u201d primarily represent gains and losses on \u201cFinancial instruments owned, at fair value\u201d and \u201cFinancial instruments sold, but not yet purchased, at fair value.", + "\u201d Loans and Lending Commitments The table below presents the difference between the aggregate fair value and the aggregate contractual principal amount for loans and long-term receivables for which the fair value option was elected.", + "In the table below, the aggregate contractual principal amount of loans on non\u0002accrual status and/or more than 90 days past due (which excludes loans carried at zero fair value and considered uncollectible) exceeds the related fair value primarily because the firm regularly purchases loans, such as distressed loans, at values significantly below the contractual principal amounts.", + "||As of December|\n|$ in millions| 2016|2015|\n| Performing loans and long-term receivables|||\n|Aggregate contractual principal in excess of fair value| $ 478|$1,330|\n| Loans on nonaccrual status and/or more than 90 days past due|\n|Aggregate contractual principal in excess of fair value| 8,101|9,600|\n|Aggregate fair value of loans on nonaccrual status and/or more than90 days past due| 2,138|2,391|\n", + "As of December 2016 and December 2015, the fair value of unfunded lending commitments for which the fair value option was elected was a liability of $80 million and $211 million, respectively, and the related total contractual amount of these lending commitments was $7.19 billion and $14.01 billion, respectively.", + "See Note 18 for further information about lending commitments.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis Funding Sources Our primary sources of funding are deposits, collateralized financings, unsecured short-term and long-term borrowings, and shareholders\u2019 equity.", + "We seek to maintain broad and diversified funding sources globally across products, programs, markets, currencies and creditors to avoid funding concentrations.", + "The table below presents information about our funding sources.", + "||As of December|\n|$ in millions| 2018|2017|\n|Deposits| $158,257| 25%|$138,604|23%|\n|Collateralized financings:|||||\n|Repurchase agreements| 78,723| 13%|84,718|14%|\n|Securities loaned| 11,808| 2%|14,793|2%|\n|Other secured financings| 21,433| 3%|24,788|4%|\n|Total collateralized financings| 111,964| 18%|124,299|20%|\n|Unsecured short-term borrowings| 40,502| 7%|46,922|8%|\n|Unsecured long-term borrowings| 224,149| 36%|217,687|36%|\n|Total shareholders\u2019 equity| 90,185| 14%|82,243|13%|\n| Total funding sources| $625,057| 100%|$609,755|100%|\n", + "Our funding is primarily raised in U. S. dollar, Euro, British pound and Japanese yen.", + "We generally distribute our funding products through our own sales force and third\u0002party distributors to a large, diverse creditor base in a variety of markets in the Americas, Europe and Asia.", + "We believe that our relationships with our creditors are critical to our liquidity.", + "Our creditors include banks, governments, securities lenders, corporations, pension funds, insurance companies, mutual funds and individuals.", + "We have imposed various internal guidelines to monitor creditor concentration across our funding programs.", + "Deposits.", + "Our deposits provide us with a diversified source of funding and reduce our reliance on wholesale funding.", + "A growing portion of our deposit base consists of consumer deposits.", + "Deposits are primarily used to finance lending activity, other inventory and a portion of our GCLA.", + "We raise deposits, including savings, demand and time deposits, through internal and third-party broker-dealers, and from consumers and institutional clients, and primarily through Goldman Sachs Bank USA (GS Bank USA) and Goldman Sachs International Bank (GSIB).", + "In September 2018, we launched Marcus: by Goldman Sachs in the U. K. to accept deposits.", + "See Note 14 to the consolidated financial statements for further information about our deposits.", + "Secured Funding.", + "We fund a significant amount of inventory on a secured basis.", + "Secured funding includes collateralized financings in the consolidated statements of financial condition.", + "We may also pledge our inventory as collateral for securities borrowed under a securities lending agreement.", + "We also use our own inventory to cover transactions in which we or our clients have sold securities that have not yet been purchased.", + "Secured funding is less sensitive to changes in our credit quality than unsecured funding, due to our posting of collateral to our lenders.", + "Nonetheless, we continually analyze the refinancing risk of our secured funding activities, taking into account trade tenors, maturity profiles, counterparty concentrations, collateral eligibility and counterparty roll over probabilities.", + "We seek to mitigate our refinancing risk by executing term trades with staggered maturities, diversifying counterparties, raising excess secured funding, and pre-funding residual risk through our GCLA.", + "We seek to raise secured funding with a term appropriate for the liquidity of the assets that are being financed, and we seek longer maturities for secured funding collateralized by asset classes that may be harder to fund on a secured basis, especially during times of market stress.", + "Our secured funding, excluding funding collateralized by liquid government and agency obligations, is primarily executed for tenors of one month or greater and is primarily executed through term repurchase agreements and securities loaned contracts.", + "The weighted average maturity of our secured funding included in collateralized financings in the consolidated statements of financial condition, excluding funding that can only be collateralized by liquid government and agency obligations, exceeded 120 days as of December 2018.", + "Assets that may be harder to fund on a secured basis during times of market stress include certain financial instruments in the following categories: mortgage and other asset\u0002backed loans and securities, non-investment-grade corporate debt securities, equity securities and emerging market securities.", + "Assets that are classified in level 3 of the fair value hierarchy are generally funded on an unsecured basis.", + "See Notes 5 and 6 to the consolidated financial statements for further information about the classification of financial instruments in the fair value hierarchy and \u201cUnsecured Long-Term Borrowings\u201d below for further information about the use of unsecured long-term borrowings as a source of funding.", + "We also raise financing through other types of collateralized financings, such as secured loans and notes.", + "GS Bank USA has access to funding from the Federal Home Loan Bank.", + "Our outstanding borrowings against the Federal Home Loan Bank were $528 million as of December 2018 and $3.40 billion as of December 2017." + ], + "question_id": "simplong-test-218", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of Management and financial advice fees, Distribution fees, Net investment income and Premiums in 2013? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Protection The following table presents the results of operations of our Protection segment on an operating basis:", + "||Years Ended December 31,|||\n||2013|2012|Change|\n||(in millions)||\n|Revenues|||||\n|Management and financial advice fees|$58|$55|$3|5%|\n|Distribution fees|91|91|\u2014|\u2014|\n|Net investment income|439|429|10|2|\n|Premiums|1,188|1,121|67|6|\n|Other revenues|410|392|18|5|\n|Total revenues|2,186|2,088|98|5|\n|Banking and deposit interest expense|\u2014|1|-1|\u2014|\n|Total net revenues|2,186|2,087|99|5|\n|Expenses|||||\n|Distribution expenses|62|53|9|17|\n|Interest credited to fixed accounts|145|143|2|1|\n|Benefits, claims, losses and settlement expenses|1,252|1,146|106|9|\n|Amortization of deferred acquisition costs|118|110|8|7|\n|Interest and debt expense|25|24|1|4|\n|General and administrative expense|248|238|10|4|\n|Total expenses|1,850|1,714|136|8|\n|Operating earnings|$336|$373|$-37|-10%|\n", + "Our Protection segment pretax operating income, which excludes net realized gains or losses and the market impact on indexed universal life benefits (net of hedges and the related DAC amortization, unearned revenue amortization and the reinsurance accrual), decreased $37 million, or 10%, to $336 million for the year ended December 31, 2013 compared to $373 million for the prior year reflecting lower auto and home earnings.", + "Net Revenues Net revenues, which exclude net realized gains or losses and the unearned revenue amortization and the reinsurance accrual offset to the market impact on indexed universal life benefits, increased $99 million, or 5%, to $2.2 billion for the year ended December 31, 2013 compared to $2.1 billion for the prior year primarily due to the impact of unlocking and growth in auto and home premiums, as well as an increase in net investment income.", + "Net investment income, which excludes net realized gains or losses, increased $10 million, or 2%, to $439 million for the year ended December 31, 2013 compared to $429 million for the prior year due to an increase in investment income on fixed maturities driven by higher average invested assets for life and health.", + "Premiums increased $67 million, or 6%, to $1.2 billion for the year ended December 31, 2013 compared to $1.1 billion for the prior year primarily due to growth in auto and home premiums driven by new policy sales growth across market segments, primarily from our affinity relationships with Costco and Progressive.", + "Auto and home policy counts increased 11% year-over-year.", + "Other revenues increased $18 million, or 5%, to $410 million for the year ended December 31, 2013 compared to $392 million for the prior year primarily due to an $18 million unfavorable impact from unlocking for the year ended December 31, 2013 compared to a $41 million unfavorable impact in the prior year.", + "The primary driver of the unlocking impact to other revenues in both periods was lower projected gains on reinsurance contracts resulting from favorable mortality experience.", + "Expenses Total expenses, which exclude the market impact on indexed universal life benefits (net of hedges and the related DAC amortization), increased $136 million, or 8%, to $1.9 billion for the year ended December 31, 2013 compared to $1.7 billion for the prior year primarily due to an increase in benefits, claims, losses and settlement expenses.", + "Distribution expenses increased $9 million, or 17%, to $62 million for the year ended December 31, 2013 compared to $53 million for the prior year driven by higher compensation related to higher sales.", + "Benefits, claims, losses and settlement expenses, which exclude the market impact on indexed universal life benefits (net of hedges), increased $106 million, or 9%, to $1.3 billion for the year ended December 31, 2013 compared to $1.1 billion for the prior year due to the impact of unlocking, higher expenses related to our auto and home business, an", + "We expect net interest expense of approximately $135 to $140 in 2011, subject to capital deployment activities during the year.", + "Our effective tax rate was 31.2 percent in 2008, 31.5 percent in 2009 and 30.7 percent in 2010.", + "The 2008 rate includeda$35, or approximately $0.09 per-share, benefit from the settlement of tax refund litigation, which reduced the 2008 tax rate by 100 basis points.", + "We anticipate an effective tax rate of approximately 31 percent in 2011.", + "For additional discussion of tax matters, see Note E to the Consolidated Financial Statements.", + "In 2008, we entered into an agreement to sell our Spanish nitrocellulose operation and recognized a pretax loss of $11 in discontinued operations in anticipation of the sale.", + "The sale of this operation was completed in 2010.", + "Our reported revenues exclude the revenues associated with this divested business.", + "We have presented the operating results of this business, along with the loss from the sale, as discontinued operations, net of income taxes.", + "R E V I EW OF BU S I NESS GROU P S AEROSPACE Review of 2010 vs. 2009", + "|Year Ended December 31|2009|2010|Variance|\n|Revenues|$5,171|$5,299|$128|2.5%|\n|Operating earnings|707|860|153|21.6%|\n|Operating margin|13.7%|16.2%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|94|99|5|5.3%|\n|Completion|110|89|-21|-19.1%|\n", + "The Aerospace group\u2019s revenues increased in 2010 compared with 2009 due primarily to steady growth in aircraft services activity throughout the year.", + "Aircraft manufacturing and outfitting revenues remained consistent with 2009 levels, with an increase in manufac- turing volume offset by reduced outfitting work.", + "Aircraft manufacturing revenues increased 9 percent in 2010, the result of additional deliveries and a more favorable mix of green Gulfstream aircraft.", + "The decline in aircraft outfitting revenues was associated primarily with the group\u2019s completions work for other original equipment manufacturers (OEMs), reflecting decreased OEM production across the broader business-jet market.", + "Aircraft services revenues, which include both Gulfstream and Jet Aviation\u2019s maintenance and repair work, fixed-base operations and aircraft management services, increased 15 percent in 2010, reflecting the growing installed base of business-jet aircraft and increased utilization as the business-jet market recovers following the economic downturn.", + "Revenues from sales of pre-owned aircraft were down slightly from 2009.", + "The group\u2019s operating earnings improved significantly in 2010 compared with 2009, with improvements in all areas of the group\u2019s portfolio.", + "The components of the earnings growth were as follows:", + "|Aircraft manufacturing and outfitting|$68|\n|Pre-owned aircraft|40|\n|Aircraft services|29|\n|SG&A/other|16|\n|Total increase in operating earnings|$153|\n", + "The group\u2019s aircraft manufacturing and outfitting earnings were up in 2010 compared with 2009 due to the increase in aircraft manufacturing volume, as well as improved pricing on large-cabin aircraft and mix shift within large-cabin models.", + "This increase was offset in part by reduced liquidated damages associated with fewer customer defaults.", + "Margins for these activities were up 190 basis points compared with 2009.", + "Pre-owned aircraft earnings improved significantly from 2009, when the group wrote down the carrying value of its pre-owned aircraft inventory.", + "Pricing in the pre-owned market has improved since mid-2009, particularly for large-cabin aircraft, although inventories across the industry remain higher than historic norms.", + "In 2010, the Aerospace group realized modest profits on its pre-owned sales, took no pre-owned aircraft write-downs and ended the year with no pre-owned aircraft in inventory.", + "Consistent with the increased volume, aircraft services earnings continued to improve from 2009.", + "Margins associated with aircraft services were up 70 basis points in 2010 due to improved marketplace pricing.", + "The group\u2019s operating earnings in 2010 were also favorably impacted by the timing of R&D expenditures and the absence of severance costs associated with workforce reductions in 2009.", + "As a result of the factors discussed above, the group\u2019s overall operating margins increased 250 basis points in 2010 compared with 2009. Review of 2009 vs. 2008", + "|Year Ended December 31|2008|2009|Variance|\n|Revenues|$5,512|$5,171|$ -341|-6.2%|\n|Operating earnings|1,021|707|-314|-30.8%|\n|Operating margin|18.5%|13.7%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|156|94|-62|-39.7%|\n|Completion|152|110|-42|-27.6%|\n", + "The Aerospace group\u2019s revenues decreased in 2009, the result ofadecline in sales of Gulfstream aircraft that was offset in part by the addition of Jet Aviation, which we acquired in the fourth quarter of 2008.", + "We reduced Gulfstream\u2019s 2009 aircraft production, primarily in the group\u2019s mid-cabin", + "In summary, our cash flows for each period were as follows:", + "|Years Ended(In Millions)|Dec 30,2017|Dec 31,2016|Dec 26,2015|\n|Net cash provided by operating activities|$22,110|$21,808|$19,018|\n|Net cash used for investing activities|-15,762|-25,817|-8,183|\n|Net cash provided by (used for) financing activities|-8,475|-5,739|1,912|\n|Net increase (decrease) in cash and cash equivalents|$-2,127|$-9,748|$12,747|\n", + "OPERATING ACTIVITIES Cash provided by operating activities is net income adjusted for certain non-cash items and changes in assets and liabilities.", + "For 2017 compared to 2016, the $302 million increase in cash provided by operating activities was due to changes to working capital partially offset by adjustments for non-cash items and lower net income.", + "Tax Reform did not have an impact on our 2017 cash provided by operating activities.", + "The increase in cash provided by operating activities was driven by increased income before taxes and $1.0 billion receipts of customer deposits.", + "These increases were partially offset by increased inventory and accounts receivable.", + "Income taxes paid, net of refunds, in 2017 compared to 2016 were $2.9 billion higher due to higher income before taxes, taxable gains on sales of ASML, and taxes on the ISecG divestiture.", + "We expect approximately $2.0 billion of additional customer deposits in 2018.", + "For 2016 compared to 2015, the $2.8 billion increase in cash provided by operating activities was due to adjustments for non-cash items and changes in working capital, partially offset by lower net income.", + "The adjustments for non-cash items were higher in 2016 primarily due to restructuring and other charges and the change in deferred taxes, partially offset by lower depreciation.", + "INVESTING ACTIVITIES Investing cash flows consist primarily of capital expenditures; investment purchases, sales, maturities, and disposals; and proceeds from divestitures and cash used for acquisitions.", + "Our capital expenditures were $11.8 billion in 2017 ($9.6 billion in 2016 and $7.3 billion in 2015).", + "The decrease in cash used for investing activities in 2017 compared to 2016 was primarily due to higher net activity of available-for sale-investments in 2017, proceeds from our divestiture of ISecG in 2017, and higher maturities and sales of trading assets in 2017.", + "This activity was partially offset by higher capital expenditures in 2017.", + "The increase in cash used for investing activities in 2016 compared to 2015 was primarily due to our completed acquisition of Altera, net purchases of trading assets in 2016 compared to net sales of trading assets in 2015, and higher capital expenditures in 2016.", + "This increase was partially offset by lower investments in non-marketable equity investments.", + "FINANCING ACTIVITIES Financing cash flows consist primarily of repurchases of common stock, payment of dividends to stockholders, issuance and repayment of short-term and long-term debt, and proceeds from the sale of shares of common stock through employee equity incentive plans.", + "The increase in cash used for financing activities in 2017 compared to 2016 was primarily due to net long-term debt activity, which was a use of cash in 2017 compared to a source of cash in 2016.", + "During 2017, we repurchased $3.6 billion of common stock under our authorized common stock repurchase program, compared to $2.6 billion in 2016.", + "As of December 30, 2017, $13.2 billion remained available for repurchasing common stock under the existing repurchase authorization limit.", + "We base our level of common stock repurchases on internal cash management decisions, and this level may fluctuate.", + "Proceeds from the sale of common stock through employee equity incentive plans totaled $770 million in 2017 compared to $1.1 billion in 2016.", + "Our total dividend payments were $5.1 billion in 2017 compared to $4.9 billion in 2016.", + "We have paid a cash dividend in each of the past 101 quarters.", + "In January 2018, our Board of Directors approved an increase to our cash dividend to $1.20 per share on an annual basis.", + "The board has declared a quarterly cash dividend of $0.30 per share of common stock for Q1 2018.", + "The dividend is payable on March 1, 2018 to stockholders of record on February 7, 2018.", + "Cash was used for financing activities in 2016 compared to cash provided by financing activities in 2015, primarily due to fewer debt issuances and the repayment of debt in 2016.", + "This activity was partially offset by repayment of commercial paper in 2015 and fewer common stock repurchases in 2016." + ], + "question_id": "simplong-test-219", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the proportion of Distribution expenses to the total expenses in 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Operating general and administrative expense, which excludes integration charges, increased $123 million, or 10%, to $1.3 billion for the year ended December 31, 2011 compared to $1.2 billion for the prior year reflecting an additional four months of ongoing expenses of Columbia Management, as well as higher investment spending compared to the prior year, partially offset by lower hedge fund performance compensation.", + "Annuities Our Annuities segment provides variable and fixed annuity products of RiverSource Life companies to retail clients.", + "Prior to the fourth quarter of 2010, we provided our variable annuity products through our affiliated advisors as well as unaffiliated advisors through third-party distribution.", + "During the fourth quarter of 2010, we discontinued new sales of our variable annuities in non-Ameriprise channels to further strengthen the risk and return characteristics of the business.", + "We provide our fixed annuity products through affiliated advisors as well as unaffiliated advisors through third-party distribution.", + "Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows.", + "Revenues for our fixed annuity products are primarily earned as net investment income on invested assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances.", + "We also earn net investment income on invested assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business.", + "Intersegment revenues for this segment reflect fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource Variable Series Trust, Columbia Funds Variable Insurance Trust, Columbia Funds Variable Insurance Trust I and Wanger Advisors Trust funds under the variable annuity contracts.", + "Intersegment expenses for this segment include distribution expenses for services provided by the Advice & Wealth Management segment, as well as expenses for investment management services provided by the Asset Management segment.", + "Management believes that operating measures, which exclude net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, for our Annuities segment, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis.", + "See our discussion on the use of these non-GAAP measures in the Overview section above.", + "The following table presents the results of operations of our Annuities segment:", + "| |Years Ended December 31,|||\n| |2011 |2010|||\n| |GAAP |Less: Adjustments -1|Operating |GAAP|Less: Adjustments -1|Operating|Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$622|$\u2014|$622|$546|$\u2014|$546|$76|14%|\n|Distribution fees|312|\u2014|312|284|\u2014|284|28|10|\n|Net investment income|1,280|1|1,279|1,318|9|1,309|-30|-2|\n|Premiums|161|\u2014|161|150|\u2014|150|11|7|\n|Other revenues|256|\u2014|256|202|\u2014|202|54|27|\n|Total revenues|2,631|1|2,630|2,500|9|2,491|139|6|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|2,631|1|2,630|2,500|9|2,491|139|6|\n| Expenses|||||||||\n|Distribution expenses|315|\u2014|315|268|\u2014|268|47|18|\n|Interest credited to fixed accounts|711|\u2014|711|762|\u2014|762|-51|-7|\n|Benefits, claims, losses and settlement expenses|472|67|405|691|9|682|-277|-41|\n|Amortization of deferred acquisition costs|398|-8|406|-76|16|-92|498|NM|\n|Interest and debt expense|1|\u2014|1|2|\u2014|2|-1|-50|\n|General and administrative expense|213|\u2014|213|205|\u2014|205|8|4|\n|Total expenses|2,110|59|2,051|1,852|25|1,827|224|12|\n|Pretax income|$521|$-58|$579|$648|$-16|$664|$-85|-13%|\n", + "NM Not Meaningful.", + "(1) Adjustments include net realized gains or losses and the market impact on variable annuity living benefits, net of hedges, DSIC and DAC amortization.", + "Our Annuities segment pretax income decreased $127 million, or 20%, to $521 million for the year ended December 31, 2011 compared to $648 million for the prior year.", + "Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, decreased $85 million, or 13%, to $579 million for the year ended December 31, 2011 compared to", + "apply as it has no impact on plan obligations.", + "For 2015, the healthcare trend rate was 7%, the ultimate trend rate was 5%, and the year the ultimate trend rate is reached was 2019.", + "Projected benefit payments are as follows:", + "|2017|$11.5|\n|2018|11.0|\n|2019|10.7|\n|2020|10.2|\n|2021|9.7|\n|2022\u20132026|35.3|\n", + "These estimated benefit payments are based on assumptions about future events.", + "Actual benefit payments may vary significantly from these estimates.17.", + "COMMITMENTS AND CONTINGENCIES LITIGATION We are involved in various legal proceedings, including commercial, competition, environmental, health, safety, product liability, and insurance matters.", + "In September 2010, the Brazilian Administrative Council for Economic Defense (CADE) issued a decision against our Brazilian subsidiary, Air Products Brasil Ltda.", + ", and several other Brazilian industrial gas companies for alleged anticompetitive activities.", + "CADE imposed a civil fine of R$179.2 million (approximately $55 at 30 September 2016) on Air Products Brasil Ltda.", + "This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice, whose investigation began in 2003, alleging violation of competition laws with respect to the sale of industrial and medical gases.", + "The fines are based on a percentage of our total revenue in Brazil in 2003.", + "We have denied the allegations made by the authorities and filed an appeal in October 2010 with the Brazilian courts.", + "On 6 May 2014, our appeal was granted and the fine against Air Products Brasil Ltda.", + "was dismissed.", + "CADE has appealed that ruling and the matter remains pending.", + "We, with advice of our outside legal counsel, have assessed the status of this matter and have concluded that, although an adverse final judgment after exhausting all appeals is possible, such a judgment is not probable.", + "As a result, no provision has been made in the consolidated financial statements.", + "We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $55 at 30 September 2016) plus interest accrued thereon until final disposition of the proceedings.", + "Other than this matter, we do not currently believe there are any legal proceedings, individually or in the aggregate, that are reasonably possible to have a material impact on our financial condition, results of operations, or cash flows.", + "ENVIRONMENTAL In the normal course of business, we are involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA: the federal Superfund law); Resource Conservation and Recovery Act (RCRA); and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation.", + "Presently, there are approximately 33 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites.", + "We continually monitor these sites for which we have environmental exposure.", + "Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.", + "The consolidated balance sheets at 30 September 2016 and 2015 included an accrual of $81.4 and $80.6, respectively, primarily as part of other noncurrent liabilities.", + "The environmental liabilities will be paid over a period of up to 30 years.", + "We estimate the exposure for environmental loss contingencies to range from $81 to a reasonably possible upper exposure of $95 as of 30 September 2016.", + "HENRY SCHEIN, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) (in thousands, except per share data) 88 Note 15 \u2013 Segment and Geographic Data We conduct our business through two reportable segments: health care distribution and technology and value\u0002added services.", + "These segments offer different products and services to the same customer base.", + "The health care distribution reportable segment aggregates our global dental, animal health and medical operating segments.", + "This segment consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.", + "Our global dental group serves office-based dental practitioners, dental laboratories, schools and other institutions.", + "Our global animal health group serves animal health practices and clinics.", + "Our global medical group serves office-based medical practitioners, ambulatory surgery centers, other alternate-care settings and other institutions.", + "Our global dental, animal health and medical groups serve practitioners in 25 countries worldwide.", + "Our global technology and value-added services group provides software, technology and other value-added services to health care practitioners.", + "Our technology group offerings include practice management software systems for dental and medical practitioners and animal health clinics.", + "Our value-added practice solutions include financial services on a non-recourse basis, e-services and continuing education services for practitioners.", + "Beginning with the first quarter of 2012, we have reported net sales and prior-year sales comparisons for each of our global dental, animal health and medical and global technology and value-added services business groups.", + "This sales reporting is consistent with our global business groups as realigned in 2012.", + "These groups have been formed to provide distinct organizational focus for reaching and serving each practitioner segment with the benefits of a global perspective, as well as global product and service offerings and best practices.", + "We will continue to report financial results for our health care distribution and technology and value-added services reportable segments.", + "The health care distribution segment comprises three global operating segments (dental, animal health and medical) and the technology and value-added services segment remains unchanged.", + "In connection with this change in business groups, goodwill was reallocated to the new reporting units.", + "We reviewed the newly allocated goodwill and determined that there was no impairment.", + "The following tables present information about our reportable and operating segments:", + "|||Years Ended|\n|||December 28, 2013|December 29, 2012|December 31, 2011|\n|Net Sales:||||\n||Health care distribution -1:||||\n||Dental|$4,997,972|$4,774,482|$4,764,898|\n||Animal health|2,599,461|2,321,151|2,010,270|\n||Medical|1,643,167|1,560,921|1,504,454|\n||Total health care distribution|9,240,600|8,656,554|8,279,622|\n||Technology and value-added services -2|320,047|283,413|250,620|\n||Total|$9,560,647|$8,939,967|$8,530,242|\n|-1|Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and|\n||generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.|\n|-2|Consists of practice management software and other value-added products, which are distributed primarily to health care providers,|\n||and financial and other services, including e-services and continuing education services for practitioners.|\n", + "(1) Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.", + "(2) Consists of practice management software and other value-added products, which are distributed primarily to health care providers, and financial and other services, including e-services and continuing education services for practitioners.", + "Notes to Consolidated Financial Statements Note 8.", + "Property, Plant and Equipment \u0010 (Continued) Offshore Drilling Equipment In the third quarter of 2010, Diamond Offshore completed the sale of one of its high performance, premium jack\u0002up drilling rigs, the Ocean Shield for a gross purchase price of $186 million and recognized a pretax gain of approximately $33 million.", + "Natural Gas and Oil Proved and Unproved Properties Sale of Assets In 2010, HighMount completed the sales of substantially all exploration and production assets located in the Antrim Shale in Michigan and in the Black Warrior Basin in Alabama for $540 million.", + "In accordance with the full cost method of accounting, proceeds from these sales were accounted for as reductions of capitalized costs, and recorded as credits to Accumulated depreciation, depletion and amortization.", + "See Note 2 for additional information related to these sales.", + "Impairment of Natural Gas and Oil Properties At March 31, 2009 and December 31, 2008, HighMount recorded non-cash ceiling test impairment charges of $1,036 million ($660 million after tax) and $691 million ($440 million after tax), related to its carrying value of natural gas and oil properties.", + "The impairments were recorded as credits to DD&A.", + "The write-downs were the result of declines in commodity prices.", + "Had the effects of HighMount\u2019s cash flow hedges not been considered in calculating the ceiling limitation, the impairments would have been $1,230 million ($784 million after tax) in 2009 and $873 million ($555 million, after tax) in 2008.", + "No such impairment was required during 2010.", + "Costs Not Being Amortized HighMount excludes from amortization the cost of unproved properties, the cost of exploratory wells in progress and major development projects in progress.", + "Natural gas and oil property and equipment costs not being amortized as of December 31, 2010, are as follows, by the year in which such costs were incurred:", + "||Total|2010|2009|2008|2007|\n| (In millions)||||||\n|Acquisition costs|$244|$9|$1|$1|$233|\n|Exploration costs|2|1||1||\n|Capitalized interest|26|15|4|5|2|\n|Total excluded costs|$272|$25|$5|$7|$235|\n", + "Note 9.", + "Claim and Claim Adjustment Expense Reserves CNA\u2019s property and casualty insurance claim and claim adjustment expense reserves represent the estimated amounts necessary to resolve all outstanding claims, including claims that are incurred but not reported (\u201cIBNR\u201d) as of the reporting date.", + "CNA\u2019s reserve projections are based primarily on detailed analysis of the facts in each case, CNA\u2019s experience with similar cases and various historical development patterns.", + "Consideration is given to such historical patterns as field reserving trends and claims settlement practices, loss payments, pending levels of unpaid claims and product mix, as well as court decisions, economic conditions and public attitudes.", + "All of these factors can affect the estimation of claim and claim adjustment expense reserves.", + "Establishing claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves for catastrophic events that have occurred, is an estimation process.", + "Many factors can ultimately affect the final settlement of a claim and, therefore, the necessary reserve.", + "Changes in the law, results of litigation, medical costs, the cost of repair materials and labor rates can all affect ultimate claim costs.", + "In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of the claim, the more variable the ultimate settlement amount can be.", + "Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably estimable than long-tail claims, such as workers\u2019 compensation,", + "Item 1. Business CNA Financial Corporation \u2013 (Continued) The loss reserve development table is cumulative and, therefore, ending balances should not be added since the amount at the end of each calendar year includes activity for both the current and prior years.", + "The development amounts in the table below include the impact of commutations, but exclude the impact of the allowance for doubtful accounts on reinsurance receivables.", + "|| Schedule of Loss Reserve Development|\n| Year Ended December 31|2000|2001(a)|2002(b)|2003|2004|2005|2006|2007|2008|2009| 2010(c)|\n| (In millions of dollars)||||||||||||\n|Originally reported gross reserves for unpaid claim and claim adjustment expenses|26,510|29,649|25,719|31,284|31,204|30,694|29,459|28,415|27,475|26,712| 25,412|\n|Originally reported ceded recoverable|7,333|11,703|10,490|13,847|13,682|10,438|8,078|6,945|6,213|5,524| 6,060|\n|Originally reported net reserves for unpaid claim and claim adjustmentexpenses|19,177|17,946|15,229|17,437|17,522|20,256|21,381|21,470|21,262|21,188| 19,352|\n|Cumulative net paid as of:||||||||||||\n|One year later|7,686|5,981|5,373|4,382|2,651|3,442|4,436|4,308|3,930|3,762| -|\n|Two years later|11,992|10,355|8,768|6,104|4,963|7,022|7,676|7,127|6,746|-| -|\n|Three years later|15,291|12,954|9,747|7,780|7,825|9,620|9,822|9,102|-|-| -|\n|Four years later|17,333|13,244|10,870|10,085|9,914|11,289|11,312|-|-|-| -|\n|Five years later|17,775|13,922|12,814|11,834|11,261|12,465|-|-|-|-| -|\n|Six years later|18,970|15,493|14,320|12,988|12,226|-|-|-|-|-| -|\n|Seven years later|20,297|16,769|15,291|13,845|-|-|-|-|-|-| -|\n|Eight years later|21,382|17,668|16,022|-|-|-|-|-|-|-| -|\n|Nine years later|22,187|18,286|-|-|-|-|-|-|-|-| -|\n|Ten years later|22,826|-|-|-|-|-|-|-|-|-| -|\n|Net reserves re-estimated as of:||||||||||||\n|End of initial year|19,177|17,946|15,229|17,437|17,522|20,256|21,381|21,470|21,262|21,188| 19,352|\n|One year later|21,502|17,980|17,650|17,671|18,513|20,588|21,601|21,463|21,021|20,643| -|\n|Two years later|21,555|20,533|18,248|19,120|19,044|20,975|21,706|21,259|20,472|-| -|\n|Three years later|24,058|21,109|19,814|19,760|19,631|21,408|21,609|20,752|-|-| -|\n|Four years later|24,587|22,547|20,384|20,425|20,212|21,432|21,286|-|-|-| -|\n|Five years later|25,594|22,983|21,076|21,060|20,301|21,326|-|-|-|-| -|\n|Six years later|26,023|23,603|21,769|21,217|20,339|-|-|-|-|-| -|\n|Seven years later|26,585|24,267|21,974|21,381|-|-|-|-|-|-| -|\n|Eight years later|27,207|24,548|22,168|-|-|-|-|-|-|-| -|\n|Nine years later|27,510|24,765|-|-|-|-|-|-|-|-| -|\n|Ten years later|27,702|-|-|-|-|-|-|-|-|-| -|\n|Total net (deficiency) redundancy|-8,525|-6,819|-6,939|-3,944|-2,817|-1,070|95|718|790|545| -|\n|Reconciliation to gross re-estimated reserves:||||||||||||\n|Net reserves re-estimated|27,702|24,765|22,168|21,381|20,339|21,326|21,286|20,752|20,472|20,643| -|\n|Re-estimated ceded recoverable|11,397|16,911|16,279|14,639|13,507|10,846|8,541|7,180|6,168|5,559| -|\n|Total gross re-estimated reserves|39,099|41,676|38,447|36,020|33,846|32,172|29,827|27,932|26,640|26,202| -|\n|Total gross (deficiency) redundancy|-12,589|-12,027|-12,728|-4,736|-2,642|-1,478|-368|483|835|510| -|\n|Net (deficiency) redundancy related to:||||||||||||\n|Asbestos|-1,590|-818|-827|-177|-123|-113|-112|-107|-79|-| -|\n|Environmental pollution|-635|-288|-282|-209|-209|-159|-159|-159|-76|-| -|\n|Total asbestos and environmental pollution|-2,225|-1,106|-1,109|-386|-332|-272|-271|-266|-155|-| -|\n|Core (Non-asbestos and environmental pollution)|-6,300|-5,713|-5,830|-3,558|-2,485|-798|366|984|945|545| -|\n|Total net (deficiency) redundancy|-8,525|-6,819|-6,939|-3,944|-2,817|-1,070|95|718|790|545| -|\n", + "(a) Effective January 1, 2001, CNA established a new life insurance company, CNA Group Life Assurance Company (\u201cCNAGLA\u201d).", + "Further, on January 1, 2001, $1.1 billion of reserves were transferred from CCC to CNAGLA.", + "(b) Effective October 31, 2002, CNA sold CNA Reinsurance Company Limited.", + "As a result of the sale, net reserves were reduced by $1.3 billion.", + "(c) Effective January 1, 2010, CNA ceded approximately $1.5 billion of net asbestos and environmental pollution (\u201cA&EP\u201d) claim and allocated claim adjustment expense reserves relating to its continuing operations under a retroactive reinsurance agreement with an aggregate limit of $4.0 billion, as further discussed in Note 9 of the Notes to Consolidated Financial Statements included under Item 8.", + "PART IVItem 15.", + "Exhibits, Financial Statement Schedules(1) Financial StatementsOur Consolidated Financial Statements have been prepared in accordance with Item 8.", + "Financial Statements and Supplementary Data and are included beginning on page F-1 of this report.", + "(2) Financial Statement SchedulesSchedule II: Valuation and Qualifying Accounts for the three years ended December 31, 2018 are included on page 61." + ], + "question_id": "simplong-test-220", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of the Secured debt to the Total debt in 2005 Ended December 31?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Undistributed earnings of $696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the United States in the foreseeable future.", + "Because those earnings are considered to be indefinitely reinvested, no domestic federal or state deferred income taxes have been provided thereon.", + "If we were to make a distribution of any portion of those earnings in the form of dividends or otherwise, we would be subject to both U. S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to the various foreign jurisdictions.", + "Because of the availability of U. S. foreign tax credit carryforwards, it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely.", + "A valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.", + "Changes to our valuation allowance during the years ended May 31, 2015 and 2014 are summarized below (in thousands):", + "|Balance at May 31, 2013|$-28,464|\n|Utilization of foreign net operating loss carryforwards|2,822|\n|Allowance for foreign tax credit carryforward|18,061|\n|Other|382|\n|Balance at May 31, 2014|-7,199|\n|Utilization of foreign net operating loss carryforwards|3,387|\n|Other|-11|\n|Balance at May 31, 2015|$-3,823|\n", + "Net operating loss carryforwards of foreign subsidiaries totaling $12.4 million and U. S. net operating loss carryforwards previously acquired totaling $19.8 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2033 if not utilized.", + "Capital loss carryforwards of U. S. subsidiaries totaling $4.7 million will expire if not utilized by May 31, 2017.", + "Tax credit carryforwards totaling $8.4 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2023 if not utilized.", + "We conduct business globally and file income tax returns in the U. S. federal jurisdiction and various state and foreign jurisdictions.", + "In the normal course of business, we are subject to examination by taxing authorities around the world.", + "As a result of events that occurred in the fourth quarter of the year ended May 31, 2015, management concluded that it was more likely than not that the tax positions in a foreign jurisdiction, for which we had recorded estimated liabilities of $65.6 million in other noncurrent liabilities on our consolidated balance sheet, would be sustained on their technical merits based on information available as of May 31, 2015.", + "Therefore, the liability and corresponding deferred tax assets were eliminated as of May 31, 2015.", + "The uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority.", + "Discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased.", + "Subsequent to May 31, 2015, we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended May 31, 2010 through May 31, 2013.", + "The unrecognized tax benefits were effectively settled with this final closure notice.", + "We are no longer subjected to state income tax examinations for years ended on or before May 31, 2008, U. S. federal income tax examinations for fiscal years prior to 2012 and United Kingdom federal income tax examinations for years ended on or before May 31, 2013.", + "Item 6.", + "SELECTED FINANCIAL DATA The following table sets forth selected consolidated financial and other information as of and for each of the years in the five-year period ended December 31, 2007.", + "The table should be read in conjunction with our consolidated financial statements and the notes thereto, and Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations, included elsewhere in this Report.", + "||Years Ended December 31, (In thousands, except per share data and apartment homes owned)|\n||2007|2006|2005|2004|2003|\n| Operating Data(a)||||||\n|Rental income|$497,474|$463,719|$407,038|$306,691|$244,758|\n|Loss before minority interests and discontinued operations|-100,596|-91,870|-63,499|-58,003|-59,187|\n|Income from discontinued operations, net of minority interests|208,130|214,102|214,126|150,073|123,453|\n|Net income|221,349|128,605|155,166|97,152|70,404|\n|Distributions to preferred stockholders|13,911|15,370|15,370|19,531|26,326|\n|Net income available to common stockholders|205,177|113,235|139,796|71,892|24,807|\n|Common distributions declared|177,540|168,408|163,690|152,203|134,876|\n|Weighted average number of common shares outstanding \u2014 basic|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares outstanding \u2014 diluted|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares, OP Units, and common stock equivalents outstanding \u2014 diluted|146,936|147,981|150,141|145,842|136,975|\n|Per share \u2014 basic and diluted:||||||\n|Loss from continuing operations available to common stockholders, net of minority interests|$-0.02|$-0.75|$-0.54|$-0.61|$-0.86|\n|Income from discontinued operations, net of minority interests|1.55|1.60|1.57|1.17|1.08|\n|Net income available to common stockholders|1.53|0.85|1.03|0.56|0.22|\n|Common distributions declared|1.32|1.25|1.20|1.17|1.14|\n| Balance Sheet Data||||||\n|Real estate owned, at cost|$5,952,541|$5,820,122|$5,512,424|$5,243,296|$4,351,551|\n|Accumulated depreciation|1,371,759|1,253,727|1,123,829|1,007,887|896,630|\n|Total real estate owned, net of accumulated depreciation|4,580,782|4,566,395|4,388,595|4,235,409|3,454,921|\n|Total assets|4,801,121|4,675,875|4,541,593|4,332,001|3,543,643|\n|Secured debt|1,137,936|1,182,919|1,116,259|1,197,924|1,018,028|\n|Unsecured debt|2,364,740|2,155,866|2,043,518|1,682,058|1,114,009|\n|Total debt|3,502,676|3,338,785|3,159,777|2,879,982|2,132,037|\n|Stockholders\u2019 equity|1,019,393|1,055,255|1,107,724|1,195,451|1,163,436|\n|Number of common shares outstanding|133,318|135,029|134,012|136,430|127,295|\n| Other Data||||||\n| Cash Flow Data||||||\n|Cash provided by operating activities|$250,578|$229,613|$248,186|$251,747|$234,945|\n|Cash used in investing activities|-71,397|-149,973|-219,017|-595,966|-304,217|\n|Cash (used in)/provided by financing activities|-178,105|-93,040|-21,530|347,299|70,944|\n| Funds from Operations(b)||||||\n|Funds from operations \u2014 basic|$247,210|$244,471|$238,254|$211,670|$193,750|\n|Funds from operations \u2014 diluted|250,936|248,197|241,980|219,557|208,431|\n| Apartment Homes Owned||||||\n|Total apartment homes owned at December 31|65,867|70,339|74,875|78,855|76,244|\n|Weighted average number of apartment homes owned during the year|69,662|73,731|76,069|76,873|74,550|\n", + "(a) Reclassified to conform to current year presentation in accordance with FASB Statement No.144, \u201cAccounting for the Impairment or Disposal of Long-Lived Assets,\u201d as described in Note 3 to the consolidated financial statements.", + "(b) Funds from operations, or FFO, is defined as net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of depreciable property, premiums or original issuance costs associated with preferred stock redemptions, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.", + "This defini\u0002tion conforms with the National Association of Real Estate Investment Trust\u2019s definition issued in April 2002.", + "We consider FFO in evaluating property acquisitions and our operating performance and believe that FFO should be considered along with, but not as an alternative to, net income and cash flows as a measure of our activities in accordance with generally accepted accounting principles.", + "FFO does not represent cash generated from operating activities in accordance with generally accepted accounting principles and is not necessarily indicative of cash available to fund cash needs.", + "RE3 is our subsidiary that focuses on development, land entitlement and short-term hold investments.", + "RE3 tax benefits and gain on sales, net of taxes, is defined as net sales proceeds less a tax provision and the gross investment basis of the asset before accumulated depreciation.", + "We consider FFO with RE3 tax benefits and gain on sales, net of taxes, to be a meaningful supplemental measure of per\u0002formance because the short-term use of funds produce a profit that differs from the traditional long-term investment in real estate for REITs.", + "For 2005, FFO includes $2.5 million of hurricane related insurance recoveries.", + "For 2004, FFO includes a charge of $5.5 million to cover hurricane related expenses.", + "For the years ended December 31, 2007, 2004 and 2003, distributions to preferred stockholders exclude $2.6 million, $5.7 million and $19.3 million, respectively, related to premiums on preferred stock repurchases.", + "$1,138 per home, and major renovations totaled $71.8 million or $1,045 per home for the year ended December 31, 2007.", + "The following table outlines capital expenditures and repair and maintenance costs for all of our communities, excluding real estate under development, condominium conversions and commercial properties, for the periods presented:", + "||Year Ended December 31, (dollars in thousands)|Year Ended December 31, (per home)|\n|| 2007| 2006|% Change| 2007| 2006|% Change|\n|Turnover capital expenditures|$13,362|$14,214|-6.0%|$194|$197|-1.5%|\n|Asset preservation expenditures|31,071|20,409|52.2%|452|283|59.7%|\n|Total recurring capital expenditures|44,433|34,623|28.3%|646|480|34.6%|\n|Revenue enhancing improvements|78,209|144,102|-45.7%|1,138|2,002|-43.2%|\n|Major renovations|71,785|36,996|94.0%|1,045|514|103.3%|\n|Total capital expenditures|$194,427|$215,721|-9.9%|$2,829|$2,996|-5.6%|\n|Repair and maintenance expense|$42,518|$43,498|-2.3%|$619|$604|2.5%|\n", + "Total capital expenditures for our communities decreased $21.3 million or $167 per home for the year ended December 31, 2007 compared to the same period in 2006.", + "This decrease was attributable to a $65.9 million decrease in revenue enhancing improvements at certain of our properties that was offset by an additional $9.8 million being invested in recurring capital expenditures and an additional $34.8 million being invested in major renovations as compared to the same period in 2006.", + "We will continue to selectively add revenue enhancing improvements which we believe will provide a return on investment substantially in excess of our cost of capital.", + "Recurring capital expenditures during 2008 are currently expected to be approximately $650 per home.", + "Impairment of Long-Lived Assets We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets.", + "Our cash flow estimates are based upon historical results adjusted to reflect our best estimate of future market and operating conditions and our estimated holding periods.", + "The net book value of impaired assets is reduced to fair market value.", + "Our estimates of fair market value represent our best estimate based upon industry trends and reference to market rates and transactions.", + "Real Estate Investment Properties We purchase real estate investment properties from time to time and allocate the purchase price to various components, such as land, buildings, and intangibles related to in-place leases in accordance with FASB Statement No.141, \u201cBusiness Combinations.", + "\u201d The purchase price is allocated based on the relative fair value of each component.", + "The fair value of buildings is determined as if the buildings were vacant upon acquisition and subsequently leased at market rental rates.", + "As such, the determination of fair value considers the present value of all cash flows expected to be generated from the property including an initial lease-up period.", + "We determine the fair value of in-place leases by assessing the net effective rent and remaining term of the lease relative to market terms for similar leases at acquisition.", + "In addition, we consider the cost of acquiring similar leases, the foregone rents associated with the lease-up period, and the carrying costs associated with the lease-up period.", + "The fair value of in-place leases is recorded and amortized as amortization expense over the remaining contractual lease period." + ], + "question_id": "simplong-test-221", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Cost of sales of Year Ended December 31, 2016, Decreases in current period tax positions, and Total Year Ended December 31, 2005 of Balance at End of Period ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table summarizes the changes in the Company\u2019s valuation allowance:", + "|Balance at January 1, 2010|$25,621|\n|Increases in current period tax positions|907|\n|Decreases in current period tax positions|-2,740|\n|Balance at December 31, 2010|$23,788|\n|Increases in current period tax positions|1,525|\n|Decreases in current period tax positions|-3,734|\n|Balance at December 31, 2011|$21,579|\n|Increases in current period tax positions|0|\n|Decreases in current period tax positions|-2,059|\n|Balance at December 31, 2012|$19,520|\n", + "Note 14: Employee Benefits Pension and Other Postretirement Benefits The Company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations.", + "Benefits under the plans are based on the employee\u2019s years of service and compensation.", + "The pension plans have been closed for most employees hired on or after January 1, 2006.", + "Union employees hired on or after January 1, 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement.", + "Union employees hired on or after January 1, 2001 and non-union employees hired on or after January 1, 2006 are provided with a 5.25% of base pay defined contribution plan.", + "The Company does not participate in a multiemployer plan.", + "The Company\u2019s funding policy is to contribute at least the greater of the minimum amount required by the Employee Retirement Income Security Act of 1974 or the normal cost, and an additional contribution if needed to avoid \u201cat risk\u201d status and benefit restrictions under the Pension Protection Act of 2006.", + "The Company may also increase its contributions, if appropriate, to its tax and cash position and the plan\u2019s funded position.", + "Pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds, fixed income securities and guaranteed interest contracts with insurance companies.", + "Pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans.", + "(See Note 6) The Company also has several unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees.", + "The Company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees.", + "The retiree welfare plans are closed for union employees hired on or after January 1, 2006.", + "The plans had previously closed for non-union employees hired on or after January 1, 2002.", + "The Company\u2019s policy is to fund other postretirement benefit costs for rate-making purposes.", + "Plan assets are invested in equity and bond mutual funds, fixed income securities, real estate investment trusts (\u201cREITs\u201d) and emerging market funds.", + "The obligations of the plans are dominated by obligations for active employees.", + "Because the timing of expected benefit payments is so far in the future and the size of the plan assets are small relative to the Company\u2019s assets, the investment strategy is to allocate a significant percentage of assets to equities, which the Company believes will provide the highest return over the long-term period.", + "The fixed income assets are invested in long duration debt securities and may be invested in fixed income instruments, such as futures and options in order to better match the duration of the plan liability.", + "The allocation of goodwill in accordance with SFAS No.142 for the years ended December 31, 2006 and 2005 was as follows:", + "| | Balance at Beginning of Period| Goodwill Acquired| Foreign Currency Translation and Other| Balance at End of Period|\n|Year Ended December 31, 2006|||||\n|Food Packaging|$540.4|$31.9|$14.9|$587.2|\n|Protective Packaging|1,368.4|0.4|1.1|1,369.9|\n|Total|$1,908.8|$32.3|$16.0|$1,957.1|\n|Year Ended December 31, 2005|||||\n|Food Packaging|$549.8|$0.7|$-10.1|$540.4|\n|Protective Packaging|1,368.2|0.8|-0.6|1,368.4|\n|Total|$1,918.0|$1.5|$-10.7|$1,908.8|\n", + "See Note 20, \u201cAcquisitions,\u201d for additional information on the goodwill acquired during 2006.", + "Note 4 Short Term Investments\u2014Available-for-Sale Securities At December 31, 2006 and 2005, the Company\u2019s available-for-sale securities consisted of auction rate securities for which interest or dividend rates are generally re-set for periods of up to 90 days.", + "At December 31, 2006, the Company held $33.9 million of auction rate securities which were investments in preferred stock with no maturity dates.", + "At December 31, 2005, the Company held $44.1 million of auction rate securities, of which $34.7 million were investments in preferred stock with no maturity dates and $9.4 million were investments in other auction rate securities with contractual maturities in 2031.", + "At December 31, 2006 and 2005, the fair value of the available-for-sale securities held by the Company was equal to their cost.", + "There were no gross realized gains or losses from the sale of available\u0002for-sale securities in 2006 and 2005.", + "Note 5 Accounts Receivable Securitization Program In December 2001, the Company and a group of its U. S. subsidiaries entered into an accounts receivable securitization program with a bank and an issuer of commercial paper administered by the bank.", + "On December 7, 2004, which was the scheduled expiration date of this program, the parties extended this program for an additional term of three years ending December 7, 2007.", + "Under this receivables program, the Company\u2019s two primary operating subsidiaries, Cryovac, Inc. and Sealed Air Corporation (US), sell all of their eligible U. S. accounts receivable to Sealed Air Funding Corporation, an indirectly wholly-owned subsidiary of the Company that was formed for the sole purpose of entering into the receivables program.", + "Sealed Air Funding in turn may sell undivided ownership interests in these receivables to the bank and the issuer of commercial paper, subject to specified conditions, up to a maximum of $125.0 million of receivables interests outstanding from time to time.", + "Sealed Air Funding retains the receivables it purchases from the operating subsidiaries, except those as to which it sells receivables interests to the bank or the issuer of commercial paper.", + "The Company has structured the sales of accounts receivable by the operating subsidiaries to Sealed Air Funding, and the sales of receivables interests from Sealed Air Funding to the bank and the issuer of commercial paper, as \u201ctrue sales\u201d under applicable laws.", + "The assets of Sealed Air Funding are not available to pay any creditors of the Company or of the Company\u2019s other subsidiaries or affiliates.", + "The Company accounts for these transactions as sales of receivables under the provisions of SFAS No.140, \u201cAccounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities.", + "\u201d", + "Product Care 2016 compared with 2015 As reported, net sales decreased $30 million, or 2%, in 2016 compared with 2015, of which $22 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $8 million, or 1%, in 2016 compared with 2015 primarily due to the following: ?", + "unfavorable price/mix of $29 million primarily in North America driven by targeted pricing incentives and an unfavorable product mix related to accelerated growth in e-Commerce and a shift in demand due to more innovative, resource-efficient solutions.", + "This was partially offset by: ?", + "higher unit volumes of $21 million, primarily in North America and EMEA due to ongoing strength in the e-Commerce and third party logistics markets, partially offset by rationalization and weakness in the industrial sector, as well as declines in Latin America due to the political and economic environment.2015 compared with 2014 As reported, net sales decreased $109 million, or 7%, in 2015 compared with 2014, of which $99 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $10 million, or 1%, in 2015 compared with 2014 primarily due to the following: ?", + "lower unit volumes due to rationalization efforts in North America, Latin America and to a lesser extent, EMEA and weaknesses across the industrial sector.", + "This was partially offset by: ?", + "favorable price/mix in all regions, primarily in North America and Latin America reflecting results from our focus on maintaining pricing disciplines and an increase of sales from high-performance packaging solutions, including cushioning and packaging systems as compared to sales from general packaging solutions, and the progression of our pricing and value initiatives implemented to offset non-material inflationary costs as well as currency devaluation.", + "Cost of Sales Cost of sales for the years ended December 31, were as follows:", + "||Year Ended December 31,|2016 vs. 2015 % Change|2015 vs. 2014 % Change|\n|(In millions)|2016|2015|2014|\n|Net sales|$6,778.3|$7,031.5|$7,750.5|-3.6%|-9.3%|\n|Cost of sales|4,246.7|4,444.9|5,062.9|-4.5%|-12.2%|\n|As a % of net sales|62.7%|63.2%|65.3%|||\n|Gross Profit|$2,531.6|$2,586.6|$2,687.6|-2.1%|-3.8%|\n", + "2016 compared with 2015 As reported, costs of sales decreased $198 million in 2016 as compared to 2015.", + "Cost of sales was impacted by favorable foreign currency translation of $163 million.", + "On a constant dollar basis, cost of sales decreased $35 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $79 million, offset by an increase of $51 million in expenses representing higher non-material manufacturing and direct costs, including salary and wage inflation, partially offset by restructuring savings and lower incentive based compensation.2015 compared with 2014 As reported, costs of sales decreased $618 million in 2015 as compared to 2014.", + "Cost of sales was impacted by favorable foreign currency translation of $492 million.", + "On a constant dollar basis, cost of sales decreased $126 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $140 million and favorable impact of $31 million related to cost savings, freight, and other supply chain costs.", + "These were partially offset by $47 million in expenses related to higher non-material manufacturing costs, including salary and wage inflation." + ], + "question_id": "simplong-test-222", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of the Global equity and equity-related in the years where Global long-term debt greater than 7 for Market Share ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis Institutional Client Services Our Institutional Client Services segment is comprised of: Fixed Income, Currency and Commodities Client Execution.", + "Includes client execution activities related to making markets in interest rate products, credit products, mortgages, currencies and commodities.", + "\u2030 Interest Rate Products.", + "Government bonds, money market instruments such as commercial paper, treasury bills, repurchase agreements and other highly liquid securities and instruments, as well as interest rate swaps, options and other derivatives.", + "\u2030 Credit Products.", + "Investment-grade corporate securities, high-yield securities, credit derivatives, bank and bridge loans, municipal securities, emerging market and distressed debt, and trade claims.", + "\u2030 Mortgages.", + "Commercial mortgage-related securities, loans and derivatives, residential mortgage-related securities, loans and derivatives (including U. S. government agency-issued collateralized mortgage obligations, other prime, subprime and Alt-A securities and loans), and other asset-backed securities, loans and derivatives.", + "\u2030 Currencies.", + "Most currencies, including growth-market currencies.", + "\u2030 Commodities.", + "Crude oil and petroleum products, natural gas, base, precious and other metals, electricity, coal, agricultural and other commodity products.", + "Equities.", + "Includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock, options and futures exchanges worldwide, as well as OTC transactions.", + "Equities also includes our securities services business, which provides financing, securities lending and other prime brokerage services to institutional clients, including hedge funds, mutual funds, pension funds and foundations, and generates revenues primarily in the form of interest rate spreads or fees.", + "The table below presents the operating results of our Institutional Client Services segment.", + "||Year Ended December|\n|$ in millions|2014|2013|2012|\n|Fixed Income, Currency and Commodities Client Execution|$ 8,461|$ 8,651|$ 9,914|\n|Equities client execution1|2,079|2,594|3,171|\n|Commissions and fees|3,153|3,103|3,053|\n|Securities services|1,504|1,373|1,986|\n|Total Equities|6,736|7,070|8,210|\n|Total net revenues|15,197|15,721|18,124|\n|Operating expenses|10,880|11,792|12,490|\n|Pre-tax earnings|$ 4,317|$ 3,929|$ 5,634|\n", + "Notes to consolidated financial statements JPMorgan Chase & Co. 102 JPMorgan Chase & Co. / 2004 Annual Report The following table reflects information about the Firm\u2019s loans held for sale, principally mortgage-related:", + "|Year ended December 31, (in millions)(a)| 2004|2003|2002|\n|Net gains on sales of loans held for sale|$368|$933|$754|\n|Lower of cost or market adjustments|39|26|-36|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "Impaired loans JPMorgan Chase accounts for and discloses nonaccrual loans as impaired loans and recognizes their interest income as discussed previously for nonac\u0002crual loans.", + "The Firm excludes from impaired loans its small-balance, homoge\u0002neous consumer loans; loans carried at fair value or the lower of cost or fair value; debt securities; and leases.", + "The table below sets forth information about JPMorgan Chase\u2019s impaired loans.", + "The Firm primarily uses the discounted cash flow method for valuing impaired loans:", + "|December 31, (in millions)| 2004|2003|(a)|\n|Impaired loans with an allowance|$1,496|$1,597||\n|Impairedloans without anallowance(b)|284|406||\n|Total impaired loans|$1,780|$2,003||\n|Allowance for impaired loans under SFAS 114(c)|$521|$595||\n|Average balance of impaired loans during the year|1,883|2,969||\n|Interest income recognized on impairedloans during the year|8|4||\n", + "(a) Heritage JPMorgan Chase only.", + "(b) When the discounted cash flows, collateral value or market price equals or exceeds the carrying value of the loan, then the loan does not require an allowance under SFAS 114.", + "(c) The allowance for impaired loans under SFAS 114 is included in JPMorgan Chase\u2019s Allowance for loan losses.", + "Note 12 \u2013 Allowance for credit losses JPMorgan Chase\u2019s Allowance for loan losses covers the wholesale (primarily risk-rated) and consumer (primarily scored) loan portfolios and represents man\u0002agement\u2019s estimate of probable credit losses inherent in the Firm\u2019s loan portfo\u0002lio.", + "Management also computes an Allowance for wholesale lending-related commitments using a methodology similar to that used for the wholesale loans.", + "As a result of the Merger, management modified its methodology for determin\u0002ing the Provision for credit losses for the combined Firm.", + "The effect of conform\u0002ing methodologies in 2004 was a decrease in the consumer allowance of $254 million and a decrease in the wholesale allowance (including both funded loans and lending-related commitments) of $330 million.", + "In addition, the Bank One seller\u2019s interest in credit card securitizations was decertificated; this resulted in an increase to the provision for loan losses of approximately $1.4 billion (pre-tax) in 2004.", + "The Allowance for loan losses consists of two components: asset-specific loss and formula-based loss.", + "Within the formula-based loss is a statistical calcula\u0002tion and an adjustment to the statistical calculation.", + "The asset-specific loss component relates to provisions for losses on loans considered impaired and measured pursuant to SFAS 114.", + "An allowance is established when the discounted cash flows (or collateral value or observable market price) of the loan are lower than the carrying value of that loan.", + "To compute the asset-specific loss component of the allowance larger impaired loans are evaluated individually, and smaller impaired loans are evaluated as a pool using historical loss experience for the respective class of assets.", + "The formula-based loss component covers performing wholesale and consumer loans and is the product of a statistical calculation, as well as adjustments to such calculation.", + "These adjustments take into consideration model imprecision, external factors and economic events that have occurred but are not yet reflected in the factors used to derive the statistical calculation.", + "The statistical calculation is the product of probability of default and loss given default.", + "For risk-rated loans (generally loans originated by the whole\u0002sale lines of business), these factors are differentiated by risk rating and maturity.", + "For scored loans (generally loans originated by the consumer lines of business), loss is primarily determined by applying statistical loss factors and other risk indicators to pools of loans by asset type.", + "Adjustments to the statis\u0002tical calculation for the risk-rated portfolios are determined by creating esti\u0002mated ranges using historical experience of both loss given default and prob\u0002ability of default.", + "Factors related to concentrated and deteriorating industries are also incorporated into the calculation where relevant.", + "Adjustments to the statistical calculation for the scored loan portfolios are accomplished in part by analyzing the historical loss experience for each major product segment.", + "The estimated ranges and the determination of the appropriate point within the range are based upon management\u2019s view of uncertainties that relate to current macroeconomic and political conditions, quality of underwriting stan\u0002dards, and other relevant internal and external factors affecting the credit quality of the portfolio.", + "The Allowance for lending-related commitments represents management\u2019s estimate of probable credit losses inherent in the Firm\u2019s process of extending credit.", + "Management establishes an asset-specific allowance for lending-related commitments that are considered impaired and computes a formula-based allowance for performing wholesale lending-related commitments.", + "These are computed using a methodology similar to that used for the wholesale loan portfolio, modified for expected maturities and probabilities of drawdown.", + "At least quarterly, the allowance for credit losses is reviewed by the Chief Risk Officer and the Deputy Chief Risk Officer of the Firm and is discussed with a risk subgroup of the Operating Committee, relative to the risk profile of the Firm\u2019s credit portfolio and current economic conditions.", + "As of December 31, 2004, JPMorgan Chase deemed the allowance for credit losses to be appro\u0002priate (i. e. , sufficient to absorb losses that are inherent in the portfolio, including those not yet identifiable).", + "Market risk\u2013average trading and credit portfolio VAR", + "|(in millions, except headcount and ratios)|2004|2003|2002|\n| Revenue by business||||\n|Investment banking fees|$3,572|$2,871|$2,707|\n|Fixed income markets|6,314|6,987|5,450|\n|Equities markets|1,491|1,406|1,018|\n|Credit portfolio|1,228|1,420|1,507|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Revenue by region||||\n|Americas|$6,870|$7,250|$6,360|\n|Europe/Middle East/Africa|4,082|4,331|3,215|\n|Asia/Pacific|1,653|1,103|1,107|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Selected balance sheet (average)||||\n|Total assets|$473,121|$436,488|$429,866|\n|Tradingassets \u2013 debt and equity instruments|173,086|156,408|134,191|\n|Tradingassets \u2013 derivatives receivables|58,735|83,361|70,831|\n|Loans(b)|42,618|45,037|55,998|\n|Adjusted assets(c)|393,646|370,776|359,324|\n|Equity|17,290|18,350|19,134|\n| Headcount|17,478|14,691|15,012|\n| Credit data and quality statistics||||\n|Net charge-offs|$47|$680|$1,627|\n|Nonperforming assets:||||\n|Nonperforming loans(d)(e)|954|1,708|3,328|\n|Other nonperforming assets|242|370|408|\n|Allowance for loan losses|1,547|1,055|1,878|\n|Allowance for lending related commitments|305|242|324|\n|Net charge-off rate(b)|0.13%|1.65%|3.15%|\n|Allowance for loan losses to average loans(b)|4.27|2.56|3.64|\n|Allowance for loan losses to nonperforming loans(d)|163|63|57|\n|Nonperforming loans to average loans|2.24|3.79|5.94|\n| Market risk-average trading and credit portfolio VAR||||\n|Trading activities:||||\n|Fixed income(f)|$74|$61|NA|\n|Foreign exchange|17|17|NA|\n|Equities|28|18|NA|\n|Commodities and other|9|8|NA|\n|Diversification|-43|-39|NA|\n| Total trading VAR|85|65|NA|\n|Credit portfolio VAR(g)|14|18|NA|\n|Diversification|-9|-14|NA|\n| Total trading and credit portfolio VAR|$90|$69|NA|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "(b) The year-to-date average loans held for sale are $6.4 billion, $3.8 billion and $4.3 billion for 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios and net charge-off rates.", + "The 2002 net charge-offs and net charge-off rate exclude charge-offs of $212 million taken on lending-related commitments.", + "(c) Adjusted assets equals total average assets minus (1) securities purchased under resale agreements and securities borrowed less securities sold, not yet purchased; (2) assets of variable interest entities (VIEs) consolidated under FIN 46R; (3) cash and securities segre\u0002gated and on deposit for regulatory and other purposes; and (4) goodwill and intangibles.", + "The amount of adjusted assets is presented to assist the reader in comparing the IB\u2019s asset and capital levels to other investment banks in the securities industry.", + "Asset-to-equity lever\u0002age ratios are commonly used as one measure to assess a company\u2019s capital adequacy.", + "The IB believes an adjusted asset amount, which excludes certain assets considered to have a low risk profile, provides a more meaningful measure of balance sheet leverage in the securi\u0002ties industry.", + "See Capital management on pages 50\u201352 of this Annual Report for a discus\u0002sion of the Firm\u2019s overall capital adequacy and capital management.", + "(d) Nonperforming loans include loans held for sale of $2 million, $30 million and $16 million as of December 31, 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios.", + "(e) Nonperforming loans exclude loans held for sale of $351 million, $22 million and $2 million as of December 31, 2004, 2003, and 2002, respectively, that were purchased as part of the IB\u2019s proprietary investing activities.", + "(f) Includes all mark-to-market trading activities, plus available-for-sale securities held for IB investing purposes.", + "(g) Includes VAR on derivative credit valuation adjustments, credit valuation adjustment hedges and mark-to-market loan hedges, which are reported in Trading revenue.", + "This VAR does not include the accrual loan portfolio, which is not marked to market.", + "NA-Data for 2002 is not available on a comparable basis.", + "According to Thomson Financial, in 2004, the Firm improved its ranking in U. S. announced M&A from #8 to #1, and Global announced M&A from #4 to #2, while increasing its market share significantly.", + "The Firm\u2019s U. S. initial public offerings ranking improved from #16 to #4, with the Firm moving to #6 from #4 in the U. S. Equity & Equity-related category.", + "The Firm maintained its #1 ranking in U. S. syndicated loans, with a 32% market share, and its #3 position in Global Debt, Equity and Equity-related.", + "Market shares and rankings(a)", + "|| 2004|2003|2002|\n|December 31,|Market Share|Rankings|Market Share|Rankings|Market Share|Rankings|\n|Global debt, equity and equity-related|7%| # 3|8%|# 3|8%|#3|\n|Global syndicated loans|20| # 1|20|# 1|26|#1|\n|Global long-term debt|7| # 2|8|# 2|8|#2|\n|Global equity and equity-related|6| # 6|8|# 4|4|#8|\n|Global announced M&A|26| # 2|16|# 4|14|#5|\n|U.S. debt, equity and equity-related|8| # 5|9|# 3|10|#2|\n|U.S. syndicated loans|32| # 1|35|# 1|39|#1|\n|U.S. long-term debt|12| # 2|10|# 3|13|#2|\n|U.S. equity and equity-related|8| # 6|11|# 4|6|#6|\n|U.S. announced M&A|33| # 1|13|# 8|14|#7|\n", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. 78 JPMorgan Chase & Co. / 2004 Annual Report there is little to no subjectivity in determining fair value.", + "When observable market prices and parameters do not exist, management judgment is neces\u0002sary to estimate fair value.", + "The valuation process takes into consideration fac\u0002tors such as liquidity and concentration concerns and, for the derivatives port\u0002folio, counterparty credit risk (see the discussion of CVA on page 63 of this Annual Report).", + "For example, there is often limited market data to rely on when estimating the fair value of a large or aged position.", + "Similarly, judgment must be applied in estimating prices for less readily observable external parameters.", + "Finally, other factors such as model assumptions, market disloca\u0002tions and unexpected correlations can affect estimates of fair value.", + "Imprecision in estimating these factors can impact the amount of revenue or loss recorded for a particular position.", + "Trading and available-for-sale portfolios Substantially all of the Firm\u2019s securities held for trading and investment purposes (\u201clong\u201d positions) and securities that the Firm has sold to other parties but does not own (\u201cshort\u201d positions) are valued based on quoted market prices.", + "However, certain securities are less actively traded and, therefore, are not always able to be valued based on quoted market prices.", + "The determination of their fair value requires management judgment, as this determination may require benchmarking to similar instruments or analyzing default and recovery rates.", + "Examples include certain collateralized mortgage and debt obligations and high-yield debt securities.", + "As few derivative contracts are listed on an exchange, the majority of the Firm\u2019s derivative positions are valued using internally developed models that use as their basis readily observable market parameters \u2013 that is, parameters that are actively quoted and can be validated to external sources, including industry-pricing services.", + "Certain derivatives, however, are valued based on models with significant unobservable market parameters \u2013 that is, parameters that may be estimated and are, therefore, subject to management judgment to substantiate the model valuation.", + "These instruments are normally either less actively traded or trade activity is one-way.", + "Examples include long-dated inter\u0002est rate or currency swaps, where swap rates may be unobservable for longer maturities, and certain credit products, where correlation and recovery rates are unobservable.", + "Due to the lack of observable market data, the Firm defers the initial trading profit for these financial instruments.", + "The deferred profit is recognized in Trading revenue on a systematic basis and when observable mar\u0002ket data becomes available.", + "Management judgment includes recording fair value adjustments (i. e. , reductions) to model valuations to account for parame\u0002ter uncertainty when valuing complex or less actively traded derivative transac\u0002tions.", + "The following table summarizes the Firm\u2019s trading and available-for-sale portfolios by valuation methodology at December 31, 2004:" + ], + "question_id": "simplong-test-223", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the change in fair value of retained interests in billions as of december 2018 and december 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements \u2030 Purchased interests represent senior and subordinated interests, purchased in connection with secondary market-making activities, in securitization entities in which the firm also holds retained interests.", + "\u2030 Substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of December 2018, and relate to securitizations during 2012 and thereafter as of December 2017.", + "\u2030 The fair value of retained interests was $3.28 billion as of December 2018 and $2.13 billion as of December 2017.", + "In addition to the interests in the table above, the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated VIEs.", + "The carrying value of these derivatives and commitments was a net asset of $75 million as of December 2018 and $86 million as of December 2017, and the notional amount of these derivatives and commitments was $1.09 billion as of December 2018 and $1.26 billion as of December 2017.", + "The notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated VIE table in Note 12.", + "The table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests.", + "||As of December|\n|$ in millions|2018|2017|\n|Fair value of retained interests|$ 3,151|$2,071|\n|Weighted average life (years)|7.2|6.0|\n|Constant prepayment rate|11.9%|9.4%|\n|Impact of 10% adverse change|$ -27|$ -19|\n|Impact of 20% adverse change|$ -53|$ -35|\n|Discount rate|4.7%|4.2%|\n|Impact of 10% adverse change|$ -75|$ -35|\n|Impact of 20% adverse change|$ -147|$ -70|\n", + "In the table above: \u2030 Amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests.", + "\u2030 Changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear.", + "\u2030 The impact of a change in a particular assumption is calculated independently of changes in any other assumption.", + "In practice, simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above.", + "\u2030 The constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value.", + "\u2030 The discount rate for retained interests that relate to U. S. government agency-issued collateralized mortgage obligations does not include any credit loss.", + "Expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests.", + "The firm has other retained interests not reflected in the table above with a fair value of $133 million and a weighted average life of 4.2 years as of December 2018, and a fair value of $56 million and a weighted average life of 4.5 years as of December 2017.", + "Due to the nature and fair value of certain of these retained interests, the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both December 2018 and December 2017.", + "The firm\u2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $133 million as of December 2018 and $56 million as of December 2017.", + "Note 12.", + "Variable Interest Entities A variable interest in a VIE is an investment (e. g. , debt or equity) or other interest (e. g. , derivatives or loans and lending commitments) that will absorb portions of the VIE\u2019s expected losses and/or receive portions of the VIE\u2019s expected residual returns.", + "The firm\u2019s variable interests in VIEs include senior and subordinated debt; loans and lending commitments; limited and general partnership interests; preferred and common equity; derivatives that may include foreign currency, equity and/or credit risk; guarantees; and certain of the fees the firm receives from investment funds.", + "Certain interest rate, foreign currency and credit derivatives the firm enters into with VIEs are not variable interests because they create, rather than absorb, risk.", + "VIEs generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the VIE.", + "The debt and equity securities issued by a VIE may include tranches of varying levels of subordination.", + "The firm\u2019s involvement with VIEs includes securitization of financial assets, as described in Note 11, and investments in and loans to other types of VIEs, as described below.", + "See Note 11 for further information about securitization activities, including the definition of beneficial interests.", + "See Note 3 for the firm\u2019s consolidation policies, including the definition of a VIE.", + "The completion factor method is used for the months of incurred claims prior to the most recent three months because the historical percentage of claims processed for those months is at a level sufficient to produce a consistently reliable result.", + "Conversely, for the most recent three months of incurred claims, the volume of claims processed historically is not at a level sufficient to produce a reliable result, which therefore requires us to examine historical trend patterns as the primary method of evaluation.", + "Medical cost trends potentially are more volatile than other segments of the economy.", + "The drivers of medical cost trends include increases in the utilization of hospital and physician services, prescription drugs, and new medical technologies, as well as the inflationary effect on the cost per unit of each of these expense components.", + "Other external factors such as government-mandated benefits or other regulatory changes, catastrophes, and epidemics also may impact medical cost trends.", + "Additionally, as we realign our commercial strategy, we continue to reduce the level of traditional utilization management functions such as pre\u0002authorization of services, monitoring of inpatient admissions, and requirements for physician referrals.", + "Other internal factors such as system conversions and claims processing interruptions also may impact our ability to accurately predict estimates of historical completion factors or medical cost trends.", + "All of these factors are considered in estimating IBNR and in estimating the per member per month claims trend for purposes of determining the reserve for the most recent three months.", + "Each of these factors requires significant judgment by management.", + "The completion and claims per member per month trend factors are the most significant factors impacting the IBNR estimate.", + "The following table illustrates the sensitivity of these factors and the estimated potential impact on our operating results caused by changes in these factors based on December 31, 2003 data:", + "|Completion Factor (a):|Claims Trend Factor (b):|\n| (Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|(Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|\n|(dollars in thousands)|\n|-3%|$136,000|-3%|$-59,000|\n|-2%|$88,000|-2%|$-41,000|\n|-1%|$43,000|-1%|$-22,000|\n|1%|$-40,000|1%|$14,000|\n|2%|$-79,000|2%|$33,000|\n|3%|$-116,000|3%|$51,000|\n", + "(a) Reflects estimated potential changes in medical and other expenses payable caused by changes in completion factors for incurred months prior to the most recent three months.", + "(b) Reflects estimated potential changes in medical and other expenses payable caused by changes in annualized claims trend used for the estimation of per member per month incurred claims for the most recent three months.", + "Most medical claims are paid within a few months of the member receiving service from a physician or other health care provider.", + "As a result, these liabilities generally are described as having a \u201cshort-tail\u201d, which causes less than 2% of our medical and other expenses payable as of the end of any given period to be outstanding for more than 12 months.", + "As such, we expect that substantially all of the 2003 estimate of medical and other expenses payable will be known and paid during 2004.", + "Our reserving practice is to consistently recognize the actuarial best point estimate within a level of confidence required by actuarial standards.", + "Actuarial standards of practice generally require a level of confidence such that the liabilities established for IBNR have a greater probability of being adequate versus being insufficient, or such that the liabilities established for IBNR are sufficient to cover obligations under an assumption of moderately adverse conditions.", + "Adverse conditions are situations in which the actual claims are", + "TRICARE change orders occur when we perform services or incur costs under the directive of the federal government that were not originally specified in our contracts.", + "Under federal regulations we are entitled to an equitable adjustment to the contract price, which results in additional premium revenues.", + "Examples of items that have necessitated substantial change orders in recent years include congressionally legislated increases in the level of benefits for TRICARE beneficiaries and the administration of new government programs such as TRICARE for Life and TRICARE Senior Pharmacy.", + "Like BPAs, we record revenue applicable to change orders when these amounts are determinable and the collectibility is reasonably assured.", + "Unlike BPAs, where settlement only occurs at specified intervals, change orders may be negotiated and settled at any time throughout the year.", + "Total TRICARE premium and ASO fee receivables were as follows at December 31, 2003 and 2002:", + "||2003|2002|\n||(in thousands)|\n|TRICARE premiums receivable:|||\n|Base receivable|$254,688|$190,339|\n|Bid price adjustments (BPAs)|92,875|104,044|\n|Change orders|7,073|1,400|\n|Subtotal|354,636|295,783|\n|Less: long-term portion of BPAs|-38,794|-86,471|\n|Total TRICARE premiums receivable|$315,842|$209,312|\n|TRICARE ASO fees receivable:|||\n|Base receivable|$\u2014|$7,205|\n|Change orders|11,968|56,230|\n|Total TRICARE ASO fees receivable|$11,968|$63,435|\n", + "Our TRICARE contracts also contain risk-sharing provisions with the federal government to minimize any losses and limit any profits in the event that medical costs for which we are at risk differ from the levels targeted in our contracts.", + "Amounts receivable from the federal government under such risk-sharing provisions are included in the BPA receivable above, while amounts payable to the federal government under these provisions of approximately $17.3 million at December 31, 2003 are included in medical and other expenses payable in our consolidated balance sheets.", + "Investment Securities Investment securities totaled $1,995.8 million, or 38% of total assets at December 31, 2003.", + "Debt securities totaled $1,960.6 million, or 98% of our total investment portfolio.", + "More than 94% of our debt securities were of investment-grade quality, with an average credit rating of AA by Standard & Poor\u2019s at December 31, 2003.", + "Most of the debt securities that are below investment grade are rated at the higher end (B or better) of the non\u0002investment grade spectrum.", + "Our investment policy limits investments in a single issuer and requires diversification among various asset types.", + "Duration is indicative of the relationship between changes in market value to changes in interest rates, providing a general indication of the sensitivity of the fair values of our debt securities to changes in interest rates.", + "However, actual market values may differ significantly from estimates based on duration.", + "The average duration of our debt securities was approximately 3.5 years at December 31, 2003.", + "Based on this duration, a 1% increase in interest rates would generally decrease the fair value of our debt securities by approximately $70 million.", + "Our investment securities are categorized as available for sale and, as a result, are stated at fair value.", + "Fair value of publicly traded debt and equity securities are based on quoted market prices.", + "Non-traded debt securities are priced independently by a third party vendor.", + "Fair value of venture capital debt securities that are privately", + "Revenue for other healthcare services is recognized on a fee-for-service basis at estimated collectible amounts at the time services are rendered.", + "Our fees are determined in advance for each type of service performed.", + "Investment Securities Investment securities totaled $9.8 billion, or 47.3% of total assets at December 31, 2013, and $9.8 billion, or 49% of total assets at December 31, 2012.", + "Debt securities, detailed below, comprised this entire investment portfolio at December 31, 2013 and at December 31, 2012.", + "The fair value of debt securities were as follows at December 31, 2013 and 2012:" + ], + "question_id": "simplong-test-224", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of U.S. Plans in 2016 for Pension?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Private equity fund investments included above are not redeemable, because distributions from the funds will be received when underlying investments of the funds are liquidated.", + "Private equity funds are generally expected to have 10-year lives at their inception, but these lives may be extended at the fund manager\u2019s discretion, typically in one or two-year increments.", + "At December 31, 2018, assuming average original expected lives of 10 years for the funds, 14 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 43 percent between four and six years and 43 percent between seven and 10 years.", + "The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (35 percent), quarterly (32 percent), semi-annually (9 percent) and annually (24 percent), with redemption notices ranging from one day to 180 days.", + "At December 31, 2018, investments representing approximately 51 percent of the total fair value of these hedge fund investments had partial contractual redemption restrictions.", + "These partial redemption restrictions are generally related to one or more investments held in the hedge funds that the fund manager deemed to be illiquid.", + "The majority of these contractual restrictions, which may have been put in place at the fund\u2019s inception or thereafter, have pre-defined end dates.", + "The majority of these restrictions are generally expected to be lifted by the end of 2019.", + "FAIR VALUE OPTION Under the fair value option, we may elect to measure at fair value financial assets and financial liabilities that are not otherwise required to be carried at fair value.", + "Subsequent changes in fair value for designated items are reported in earnings.", + "We elect the fair value option for certain hybrid securities given the complexity of bifurcating the economic components associated with the embedded derivatives.", + "For additional information related to embedded derivatives refer to Note 11 herein.", + "Additionally, we elect the fair value option for certain alternative investments when such investments are eligible for this election.", + "We believe this measurement basis is consistent with the applicable accounting guidance used by the respective investment company funds themselves.", + "For additional information on securities and other invested assets for which we have elected the fair value option refer to Note 6 herein.", + "The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option:", + "| Years Ended December 31,|Gain (Loss)|\n|(in millions)|2018|2017|2016|\n| Assets:||||\n|Bond and equity securities|$343|$1,646|$447|\n|Alternative investments(a)|213|509|28|\n|Other, including Short-term investments|-|1|-|\n| Liabilities:||||\n|Long-term debt(b)|-1|-49|-9|\n|Other liabilities|-|-2|-|\n| Total gain|$555|$2,105|$466|\n", + "(a) Includes certain hedge funds, private equity funds and other investment partnerships.", + "(b) Includes GIAs, notes, bonds and mortgages payable.", + "Interest income and dividend income on assets measured under the fair value option are recognized and included in Net investment income in the Consolidated Statements of Income with the exception of activity within AIG\u2019s Other Operations category, which is included in Other income.", + "Interest expense on liabilities measured under the fair value option is reported in Other Income in the Consolidated Statements of Income.", + "For additional information about our policies for recognition, measurement, and disclosure of interest and dividend income see Note 6 herein.", + "8.", + "Reinsurance In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses.", + "In addition, our general insurance subsidiaries assume reinsurance from other insurance companies.", + "We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased.", + "This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR.", + "Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid.", + "Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized.", + "We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk.", + "The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment.", + "The allowance for doubtful accounts on reinsurance assets was $140 million and $187 million at December 31, 2018 and 2017, respectively.", + "Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.", + "The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:", + "| At December 31,|2018 As Reported||2017 As Reported||\n|(in millions)|Net of Reinsurance|Net of Reinsurance|\n|Liability for unpaid losses and loss adjustment expenses|$-83,639|$-51,949|$-78,393|$-51,685|\n|Future policy benefits for life and accident and health insurance contracts|-44,935|-43,936|-45,432|-44,457|\n|Reserve for unearned premiums|-19,248|-16,300|-19,030|-15,890|\n|Reinsurance assets(a)|35,637||30,823||\n", + "(a) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.", + "SHORT-DURATION REINSURANCE Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks.", + "Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts.", + "Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received.", + "Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsurers.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the reinsurance contracts and the portion of premiums relating to the unexpired terms of coverage is included in the reserve for unearned premiums.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsureds.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "For both ceded and assumed reinsurance, risk transfer requirements must be met for reinsurance accounting to apply.", + "If risk transfer requirements are not met, the contract is accounted for as a deposit, resulting in the recognition of cash flows under the contract through a deposit asset or liability and not as revenue or expense.", + "To meet risk transfer requirements, a reinsurance contract must include both insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity.", + "Similar risk transfer criteria are used to determine whether directly written insurance contracts should be accounted for as insurance or as a deposit.", + "The following table presents the weighted average assumptions used to determine the net periodic benefit costs:", + "||Pension|Postretirement||\n| |U.S. Plans|Non-U.S. Plans *|U.S. Plans|Non-U.S. Plans*||\n| For the Year Ended December 31, 2018||||||\n|Discount rate|3.61%|1.60%|3.53%| 3.59| %|\n|Rate of compensation increase|N/A|2.27%|N/A| 3.00| %|\n|Expected return on assets|6.75%|2.78%|N/A| N/A| |\n| For the Year Ended December 31, 2017||||||\n|Discount rate|4.15%|1.50%|4.01%|3.95%||\n|Rate of compensation increase|N/A|2.50%|N/A|3.38%||\n|Expected return on assets|7.00%|2.92%|N/A|N/A||\n| For the Year Ended December 31, 2016||||||\n|Discount rate|4.33%|2.17%|4.21%|4.09%||\n|Rate of compensation increase|N/A%|2.64%|N/A|3.43%||\n|Expected return on assets|7.00%|3.28%|N/A|N/A||\n", + "* The non-U.", + "S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits.", + "Discount Rate Methodology The projected benefit cash flows under the U. S. AIG Retirement Plan were discounted using the spot rates derived from the Mercer U. S. Pension Discount Yield Curve at December 31, 2018 and 2017, which resulted in a single discount rate that would produce the same liability at the respective measurement dates.", + "The discount rates were 4.22 percent at December 31, 2018 and 3.61 percent at December 31, 2017.", + "The methodology was consistently applied for the respective years in determining the discount rates for the other U. S. pension plans.", + "In general, the discount rates for the non-U.", + "S. plans were developed using a similar methodology to the U. S. AIG Retirement plan, by using country-specific Mercer Yield Curves.", + "The projected benefit obligation for AIG\u2019s Japan pension plans represents approximately 52 percent and 50 percent of the total projected benefit obligations for our non-U.", + "S. pension plans at December 31, 2018 and 2017, respectively.", + "The weighted average discount rate of 0.72 percent and 0.66 percent at December 31, 2018 and 2017, respectively, was selected by reference to the Mercer Yield Curve for Japan.", + "Plan Assets The investment strategy with respect to assets relating to our U. S. and non-U.", + "S. pension plans is designed to achieve investment returns that will provide for the benefit obligations of the plans over the long term, limit the risk of short-term funding shortfalls and maintain liquidity sufficient to address cash needs.", + "Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including, but not limited to, volatility relative to the benefit obligations, liquidity, diversification and concentration, and incorporates the risk/return profile applicable to each asset class.", + "There were no shares of AIG Common Stock included in the U. S. and non-U.", + "S. pension plans assets at December 31, 2018 or 2017.", + "Financial Assurance We must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs, and related to our performance under certain collection, landfill and transfer station contracts.", + "We satisfy these financial assurance requirements by providing surety bonds, letters of credit, or insurance policies (Financial Assurance Instruments), or trust deposits, which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets.", + "The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations.", + "The financial assurance requirements for capping, closure and post-closure costs may be associated with a portion of the landfill or the entire landfill.", + "Generally, states require a third-party engineering specialist to determine the estimated capping, closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill.", + "The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U. S. GAAP.", + "The amount of the financial assurance requirements related to contract performance varies by contract.", + "Additionally, we must provide financial assurance for our insurance program and collateral for certain performance obligations.", + "We do not expect a material increase in financial assurance requirements during 2016, although the mix of Financial Assurance Instruments may change.", + "These Financial Assurance Instruments are issued in the normal course of business and are not considered indebtedness.", + "Because we currently have no liability for the Financial Assurance Instruments, they are not reflected in our consolidated balance sheets; however, we record capping, closure and post-closure liabilities and insurance liabilities as they are incurred.", + "Off-Balance Sheet Arrangements We have no off-balance sheet debt or similar obligations, other than operating leases and financial assurances, which are not classified as debt.", + "We have no transactions or obligations with related parties that are not disclosed, consolidated into or reflected in our reported financial position or results of operations.", + "We have not guaranteed any third-party debt.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with U. S. GAAP, as 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.", + "The following table calculates our free cash flow for the years ended December 31, 2015, 2014 and 2013 (in millions of dollars):", + "||2015|2014|2013|\n|Cash provided by operating activities|$1,679.7|$1,529.8|$1,548.2|\n|Purchases of property and equipment|-945.6|-862.5|-880.8|\n|Proceeds from sales of property and equipment|21.2|35.7|23.9|\n|Free cash flow|$755.3|$703.0|$691.3|\n", + "For a discussion of the changes in the components of free cash flow, see our discussion regarding Cash Flows Provided By Operating Activities and Cash Flows Used In Investing Activities contained elsewhere in this Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations." + ], + "question_id": "simplong-test-225", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "How many loans exceed the average of total loans in 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "RECENT ACCOUNTING PRONOUNCEMENTS See Note 1 Accounting Policies in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information on the following recent accounting pronouncements that are relevant to our business, including a description of each new pronouncement, the required date of adoption, our planned date of adoption, and the expected impact on our consolidated financial statements.", + "All of the following pronouncements were issued by the FASB unless otherwise noted.", + "The following were issued in 2007: ?", + "SFAS 141(R), \u201cBusiness Combinations\u201d ?", + "SFAS 160, \u201cAccounting and Reporting of Noncontrolling Interests in Consolidated Financial Statements, an Amendment of ARB No.51\u201d ?", + "In November 2007, the SEC issued Staff Accounting Bulletin No.109, ?", + "In June 2007, the AICPA issued Statement of Position 07-1, \u201cClarification of the Scope of the Audit and Accounting Guide \u201cInvestment Companies\u201d and Accounting by Parent Companies and Equity Method Investors for Investments in Investment Companies.", + "\u201d The FASB issued a final FSP in February 2008 which indefinitely delays the effective date of AICPA SOP 07-1. ?", + "FASB Staff Position No.", + "(\u201cFSP\u201d) FIN 46(R) 7, \u201cApplication of FASB Interpretation No.46(R) to Investment Companies\u201d ?", + "FSP FIN 48-1, \u201cDefinition of Settlement in FASB Interpretation (\u201cFIN\u201d) No.48\u201d ?", + "SFAS 159, \u201cThe Fair Value Option for Financial Assets and Financial Liabilities \u2013 Including an amendment of FASB Statement No.115\u201d The following were issued during 2006: ?", + "SFAS 158, \u201cEmployers\u2019 Accounting for Defined Benefit Pension and Other Postretirement Benefit Plans \u2013 an amendment of FASB Statements No.87, 88, 106 and 132(R)\u201d(\u201cSFAS 158\u201d) ?", + "SFAS 157, \u201cFair Value Measurements\u201d ?", + "FIN 48, \u201cAccounting for Uncertainty in Income Taxes \u2013 an interpretation of FASB Statement No.109\u201d ?", + "FSP FAS 13-2, \u201cAccounting for a Change or Projected Change in the Timing of Cash Flows Relating to Income Taxes Generated by a Leveraged Lease Transaction\u201d ?", + "SFAS 156, \u201cAccounting for Servicing of Financial Assets \u2013 an amendment of FASB Statement No.140\u201d ?", + "SFAS 155, \u201cAccounting for Certain Hybrid Financial Instruments \u2013 an amendment of FASB Statements No.133 and 140\u201d ?", + "The Emerging Issues Task Force (\u201cEITF\u201d) of the FASB issued EITF Issue 06-4, \u201cAccounting for Deferred Compensation and Postretirement Benefit Aspects of Endorsement Split-Dollar Life Insurance Arrangements\u201d STATUS OF DEFINED BENEFIT PENSION PLAN We have a noncontributory, qualified defined benefit pension plan (\u201cplan\u201d or \u201cpension plan\u201d) covering eligible employees.", + "Benefits are derived from a cash balance formula based on compensation levels, age and length of service.", + "Pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants.", + "Consistent with our investment strategy, plan assets are currently approximately 60% invested in equity investments with most of the remainder invested in fixed income instruments.", + "Plan fiduciaries determine and review the plan\u2019s investment policy.", + "We calculate the expense associated with the pension plan in accordance with SFAS 87, \u201cEmployers\u2019 Accounting for Pensions,\u201d and we use assumptions and methods that are compatible with the requirements of SFAS 87, including a policy of reflecting trust assets at their fair market value.", + "On an annual basis, we review the actuarial assumptions related to the pension plan, including the discount rate, the rate of compensation increase and the expected return on plan assets.", + "Neither the discount rate nor the compensation increase assumptions significantly affects pension expense.", + "The expected long-term return on assets assumption does significantly affect pension expense.", + "The expected long-term return on plan assets for determining net periodic pension cost for 2007 was 8.25%, unchanged from 2006.", + "Under current accounting rules, the difference between expected long-term returns and actual returns is accumulated and amortized to pension expense over future periods.", + "Each one percentage point difference in actual return compared with our expected return causes expense in subsequent years to change by up to $4 million as the impact is amortized into results of operations.", + "The table below reflects the estimated effects on pension expense of certain changes in assumptions, using 2008 estimated expense as a baseline.", + "|Change in Assumption|EstimatedIncrease to 2008PensionExpense(In millions)|\n|.5% decrease in discount rate|$1|\n|.5% decrease in expected long-term return on assets|$10|\n|.5% increase in compensation rate|$2|\n", + "We currently estimate a pretax pension benefit of $26 million in 2008 compared with a pretax benefit of $30 million in", + "The following tables display the delinquency status of our loans and our nonperforming assets at December 31, 2011 and December 31, 2010.", + "Age Analysis of Past Due Accruing Loans", + "||Accruing|||||\n|In millions|Current or Less Than 30 Days Past Due|30-59 Days Past Due|60-89 Days Past Due|90 Days Or More Past Due|Total Past Due (a)|Nonperforming Loans|Purchased Impaired|Total Loans||\n| December 31, 2011||||||||||\n|Commercial|$64,437|$122|$47|$49|$218|$899|$140|$65,694| |\n|Commercial real estate|14,010|96|35|6|137|1,345|712|16,204| |\n|Equipment lease financing|6,367|22|5||27|22||6,416| |\n|Home equity|29,288|173|114|221|508|529|2,764|33,089| |\n|Residential real estate (b)|7,935|302|176|2,281|2,759|726|3,049|14,469| |\n|Credit card|3,857|38|25|48|111|8||3,976| |\n|Other consumer (c)|18,355|265|145|368|778|31|2|19,166| |\n|Total|$144,249|$1,018|$547|$2,973|$4,538|$3,560|$6,667|$159,014| |\n|Percentage of total loans|90.72%|.64%|.34%|1.87%|2.85%|2.24%|4.19%|100.00| %|\n|December 31, 2010||||||||||\n|Commercial|$53,273|$251|$92|$59|$402|$1,253|$249|$55,177||\n|Commercial real estate|14,713|128|62|43|233|1,835|1,153|17,934||\n|Equipment lease financing|6,276|37|2|1|40|77||6,393||\n|Home equity|30,334|159|91|174|424|448|3,020|34,226||\n|Residential real estate (b)|9,150|331|225|2,121|2,677|818|3,354|15,999||\n|Credit card|3,765|46|32|77|155|||3,920||\n|Other consumer (c)|16,312|260|101|234|595|35|4|16,946||\n|Total|$133,823|$1,212|$605|$2,709|$4,526|$4,466|$7,780|$150,595||\n|Percentage of total loans|88.86%|.81%|.40%|1.80%|3.01%|2.97%|5.16%|100.00%||\n", + "(a) Past due loan amounts exclude purchased impaired loans as they are considered current loans due to the accretion of interest income.", + "(b) Past due loan amounts at December 31, 2011, include government insured or guaranteed residential real estate mortgages, totaling $.1 billion for 30 to 59 days past due, $.1 billion for 60 to 89 days past due and $2.1 billion for 90 days or more past due.", + "Past due loan amounts at December 31, 2010, include government insured or guaranteed residential real estate mortgages, totaling $.1 billion for 30 to 59 days past due, $.1 billion for 60 to 89 days past due and $2.0 billion for 90 days or more past due.", + "(c) Past due loan amounts at December 31, 2011, include government insured or guaranteed other consumer loans, totaling $.2 billion for 30 to 59 days past due, $.1 billion for 60 to 89 days past due and $.3 billion for 90 days or more past due.", + "Past due loan amounts at December 31, 2010, include government insured or guaranteed other consumer loans, totaling $.2 billion for 30 to 59 days past due, $.1 billion for 60 to 89 days past due and $.2 billion for 90 days or more past due.", + "RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES Management's Discussion and Analysis 57 Certain statistical disclosures by bank holding companies As a financial holding company, we are required to provide certain statistical disclosures by bank holding companies pursuant to the SEC\u2019s Industry Guide 3.", + "The following table provides certain of those disclosures for the periods indicated below.", + "The disclosures for years ended September 30, 2016 and 2015 have been revised from those previously reported to conform to our current presentation which includes the impact of the deconsolidation of certain VIEs (see Note 2 of the Notes to Consolidated Financial Statements in this Form 10-K for additional information regarding the deconsolidation).", + "||Year ended September 30,|\n||2017|2016|2015|\n|RJF return on average assets|1.9%|1.9%|2.0%|\n|RJF return on average equity|12.2%|11.3%|11.5%|\n|Average equity to average assets|15.9%|16.6%|17.7%|\n|Dividend payout ratio|20.3%|21.9%|21.0%|\n", + "RJF return on average assets is computed as net income attributable to RJF for the year indicated, divided by average assets for each respective fiscal year.", + "Average assets is computed by adding the total assets as of each quarter-end date during the indicated fiscal year, plus the beginning of the year total, divided by five.", + "RJF return on average equity is computed by utilizing the net income attributable to RJF for the year indicated, divided by the average equity attributable to RJF for each respective fiscal year.", + "Average equity is computed by adding the total equity attributable to RJF as of each quarter-end date during the indicated fiscal year, plus the beginning of the year total, divided by five.", + "Average equity to average assets is computed as average equity divided by average assets as calculated in the above explanations.", + "Dividend payout ratio is computed as dividends declared per common share during the fiscal year as a percentage of diluted earnings per common share.", + "Refer to the RJ Bank and Risk Management sections of this MD&A and the Notes to Consolidated Financial Statements in this Form 10-K for the other required disclosures.", + "Liquidity and Capital Resources Liquidity is essential to our business.", + "The primary goal of our liquidity management activities is to ensure adequate funding to conduct our business over a range of market environments.", + "Senior management establishes our liquidity and capital management framework.", + "This framework includes senior management\u2019s review of short- and long-term cash flow forecasts, review of monthly capital expenditures, monitoring of the availability of alternative sources of financing, and daily monitoring of liquidity in our significant subsidiaries.", + "Our decisions on the allocation of capital to our business units consider, among other factors, projected profitability and cash flow, risk and impact on future liquidity needs.", + "Our treasury department assists in evaluating, monitoring and controlling the impact that our business activities have on our financial condition, liquidity and capital structure and maintains our relationships with various lenders.", + "The objective of this framework is to support the successful execution of our business strategies while ensuring ongoing and sufficient liquidity.", + "Liquidity is provided primarily through our business operations and financing activities.", + "Financing activities could include bank borrowings, repurchase agreement transactions or additional capital raising activities under our universal shelf registration statement.", + "Cash provided by operating activities during the year ended September 30, 2017 was $1.31 billion.", + "In addition to operating cash flows related to net income, other increases in cash from operations included: ?", + "A $1.43 billion decrease in assets segregated pursuant to regulations and other segregated assets, primarily resulting from the decrease in client cash balances in part due to a significant number of client accounts from the September 2016 Alex.", + "Brown acquisition electing into our RJBDP program during the current fiscal year. ?", + "$189 million of proceeds from sales of securitizations and loans held for sale, net of purchases and originations of loans and securitizations. ?", + "Accrued compensation, commissions and benefits increased $160 million as a result of the increased financial results we achieved in fiscal year 2017." + ], + "question_id": "simplong-test-226", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Property and equipment, net and Total assets in 2012? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December 31, 2012, 2011 and 2010 (in thousands, except per share data):", + "|| 2012| 2011| 2010|\n|Income from continuing operations attributable to American Tower Corporation|$637,283|$396,462|$372,906|\n|Basic weighted average common shares outstanding|394,772|395,711|401,152|\n|Dilutive securities|4,515|4,484|2,920|\n|Diluted weighted average common shares outstanding|399,287|400,195|404,072|\n|Basic income from continuing operations attributable to||||\n|American Tower Corporation per common share|$1.61|$1.00|$0.93|\n|Diluted income from continuing operations attributable to||||\n|American Tower Corporation per common share|$1.60|$0.99|$0.92|\n", + "For the year ended December 31, 2010, the weighted average number of common shares outstanding excludes shares issuable upon conversion of the Company\u2019s convertible notes of 0.1 million.", + "For the years ended December 31, 2012, 2011 and 2010, the diluted weighted average number of common shares outstanding excludes shares issuable upon exercise of the Company\u2019s stock options and share based awards of 1.0 million, 0.9 million and 1.1 million, respectively, as the effect would be anti-dilutive.18.", + "COMMITMENTS AND CONTINGENCIES Litigation\u2014The Company periodically becomes involved in various claims, lawsuits and proceedings that are incidental to its business.", + "In the opinion of Company management, after consultation with counsel, there are no matters currently pending that would, in the event of an adverse outcome, materially impact the Company\u2019s consolidated financial position, results of operations or liquidity.", + "SEC Subpoena\u2014On June 2, 2011, the Company received a subpoena from the Securities and Exchange Commission (the \u201cSEC\u201d) requesting certain documents from 2007 through the date of the subpoena, including in particular documents related to our tax accounting and reporting.", + "On November 6, 2012, the SEC notified the Company that the SEC\u2019s investigation has been completed.", + "The SEC indicated that it does not intend to recommend any enforcement action against the Company.", + "Mexico Litigation\u2014One of the Company\u2019s subsidiaries, SpectraSite Communications, Inc. (\u201cSCI \u201c), a predecessor in interest by conversion to SpectraSite Communications, LLC, was involved in a lawsuit brought in Mexico against a former Mexican subsidiary of SCI (the subsidiary of SCI was sold in 2002, prior to the Company\u2019s acquisition of SCI in 2005).", + "The lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in Mexico.", + "The primary issue for the Company is whether SCI itself can be found liable to the Mexican carrier.", + "The trial and lower appellate courts initially found that SCI had no such liability in part because Mexican courts did not have the necessary jurisdiction over SCI.", + "In September 2010, following several decisions by Mexican appellate courts, including the Supreme Court of Mexico, and related appeals by both parties, an intermediate appellate court issued a new decision that would have, if enforceable, re-imposed liability on SCI if the primary defendant in the case were unable to satisfy the judgment.", + "In its decision, the intermediate appellate court identified potential damages, in the form of potential statutory interest, of approximately $6.7 million as of that date.", + "On October 14, 2010, the Company filed a new constitutional appeal to again dispute the decision, which was rejected on January 24, 2012.", + "The case was", + "Issuer Purchases of Equity Securities During the three months ended December 31, 2012, we repurchased 619,314 shares of our common stock for an aggregate of approximately $46.0 million, including commissions and fees, pursuant to our publicly announced stock repurchase program, as follows:", + "|Period|Total Number of Shares Purchased-1|Average Price Paid per Share-2|Total Number of Shares Purchased as Part of Publicly Announced Plans orPrograms|Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans orPrograms (in millions)|\n|October 2012|27,524|$72.62|27,524|$1,300.1|\n|November 2012|489,390|$74.22|489,390|$1,263.7|\n|December 2012|102,400|$74.83|102,400|$1,256.1|\n|Total Fourth Quarter|619,314|$74.25|619,314|$1,256.1|\n", + "(1) Repurchases made pursuant to the $1.5 billion stock repurchase program approved by our Board of Directors in March 2011 (the \u201c2011 Buyback\u201d).", + "Under this program, our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.", + "To facilitate repurchases, we make purchases pursuant to trading plans under Rule 10b5-1 of the Exchange Act, which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.", + "This program may be discontinued at any time.", + "(2) Average price per share is calculated using the aggregate price, excluding commissions and fees.", + "We continued to repurchase shares of our common stock pursuant to our 2011 Buyback subsequent to December 31, 2012.", + "Between January 1, 2013 and January 21, 2013, we repurchased an additional 15,790 shares of our common stock for an aggregate of $1.2 million, including commissions and fees, pursuant to the 2011 Buyback.", + "As a result, as of January 21, 2013, we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 Buyback for an aggregate of $245.2 million, including commissions and fees.", + "We expect to continue to manage the pacing of the remaining $1.3 billion under the 2011 Buyback in response to general market conditions and other relevant factors.", + "|| As of December 31,|\n|| 2012| 2011| 2010| 2009| 2008|\n|| (In thousands)|\n| Balance Sheet Data:-8|||\n|Cash and cash equivalents (including restricted cash)(9)|$437,934|$372,406|$959,935|$295,129|$194,943|\n|Property and equipment, net|5,789,995|4,981,722|3,683,474|3,169,623|3,022,636|\n|Total assets|14,089,129|12,242,395|10,370,084|8,519,931|8,211,665|\n|Long-term obligations, including current portion|8,753,376|7,236,308|5,587,388|4,211,581|4,333,146|\n|Total American Tower Corporation equity|3,573,101|3,287,220|3,501,444|3,315,082|2,991,322|\n", + "(1) For the years ended December 31, 2012 and 2011, amount includes approximately $0.8 million and $1.1 million, respectively, in stock-based compensation expense.", + "For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.", + "(2) For the years ended December 31, 2012 and 2011, amount includes approximately $1.0 million and $1.2 million, respectively, in stock-based compensation expense.", + "For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.", + "(3) In 2008, we completed a review of the estimated useful lives of our tower assets.", + "Based upon this review, we revised the estimated useful lives of our towers and certain related intangible assets, primarily our network location intangible assets, from our historical estimate of 15 years to a revised estimate of 20 years.", + "We accounted for this change as a change in estimate, which was accounted for prospectively, effective January 1, 2008.", + "For the year ended December 31, 2008, the change resulted in a reduction in depreciation and amortization expense of approximately $121.2 million and an increase in net income of approximately $74.4 million.", + "(4) For the years ended December 31, 2012, 2011, 2010, 2009 and 2008 amount includes approximately $50.2 million, $45.1 million, $52.6 million, $60.7 million and $54.8 million, respectively, in stock-based compensation expense.", + "(5) We ceased to consolidate Verestar, Inc\u2019s (\u201cVerestar\u201d) financial results beginning in December 2003 and reported the results as discontinued operations.", + "Income from discontinued operations for 2008 includes an income tax benefit of $110.1 million related to losses associated with our investment in Verestar.", + "(6) Basic income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period.", + "Diluted income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock, shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of our convertible notes, as determined under the if-converted method.", + "Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 18 to our consolidated financial statements included in this Annual Report).", + "(7) For the purpose of this calculation, \u201cearnings\u201d consists of income from continuing operations before income taxes, income on equity method investments and fixed charges (excluding interest capitalized and amortization of interest capitalized).", + "\u201cFixed charges\u201d consists of interest expense, including amounts capitalized, amortization of debt discounts and premiums and related issuance costs and the component of rental expense associated with operating leases believed by management to be representative of the interest factor thereon.", + "(8) Balances have been revised to reflect purchase accounting measurement period adjustments.", + "(9) As of December 31, 2012, 2011, 2010, 2009 and 2008, includes approximately $69.3 million, $42.2 million, $76.0 million, $47.8 million and $51.9 million, respectively, in restricted funds pledged as collateral to secure obligations and cash that is otherwise limited by contractual provisions." + ], + "question_id": "simplong-test-227", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the total impairment charge recorded in the lat three years , in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT\u2019S DISCUSSION AND ANALYSIS 68 We operate our business through two business operating segments: Consumer Banking and Commercial Banking.", + "Segment results are derived from our business-line profitability reporting systems by specifically attributing managed assets, liabilities, capital and their related revenues, provision for credit losses and expenses, including income tax expense.", + "Residual assets, liabilities, capital and their related revenues, provision for credit losses and expenses are attributed to Other.", + "For further information, see \u201c\u2014Results of Operations - 2017 compared with 2016 \u2014 Business Operating Segments.", + "\u201d Consumer Banking", + "||As of and for the Year Ended December 31,|||\n|(dollars in millions)|2016|2015|Change|Percent|\n|Net interest income|$2,443|$2,198|$245|11%|\n|Noninterest income|883|910|-27|-3|\n|Total revenue|3,326|3,108|218|7|\n|Noninterest expense|2,547|2,456|91|4|\n|Profit before provision for credit losses|779|652|127|19|\n|Provision for credit losses|243|252|-9|-4|\n|Income before income tax expense|536|400|136|34|\n|Income tax expense|191|138|53|38|\n|Net income|$345|$262|$83|32|\n|Loans and loans held for sale (year-end)|$57,383|$53,344|$4,039|8|\n|Average Balances:|||||\n|Total assets|$56,388|$52,848|$3,540|7%|\n|Loans and leases and loans held for sale|55,052|51,484|3,568|7|\n|Deposits|72,003|69,748|2,255|3|\n|Interest-earning assets|55,101|51,525|3,576|7|\n|Key Performance Metrics:|||||\n|Net interest margin|4.43%|4.27%|16bps|\u2014|\n|Efficiency ratio|76.57|79.02|-245 bps|\u2014|\n|Period-end loans to deposits ratio-1|77.33|74.53|280bps|\u2014|\n|Average loans to average deposits ratio-1|76.46|73.81|265bps|\u2014|\n|Return on average total tangible assets|0.61|0.50|11bps|\u2014|\n|Return on average tangible common equity-2|6.68|5.53|115bps|\u2014|\n", + "(1) Ratios include loans and leases held for sale.", + "(2) Business operating segments are allocated capital on a risk-adjusted basis considering economic and regulatory capital requirements.", + "We approximate that regulatory capital is equivalent to a sustainable target level for CET1 capital and then allocate that approximation to the business operating segments based on economic capital.", + "Consumer Banking net income of $345 million in 2016 increased $83 million, or 32%, from 2015, reflecting an increase in total revenue, partially offset by an increase in noninterest expense.", + "Consumer Banking total revenue of $3.3 billion in 2016 increased $218 million from 2015, as net interest income increased driven by loan and deposit growth.", + "Net interest income of $2.4 billion increased 11% from 2015, driven by the benefit of $3.6 billion average loan growth, reflecting growth in education, residential mortgage, auto and other retail loans as well as improved loan yields.", + "Noninterest income decreased $27 million, or 3%, largely as growth in service charges and fees and mortgage banking fees were more than offset by the impact of a reclassification of card reward costs and lower trust and investment services fees.", + "Noninterest expense of $2.5 billion in 2016 increased $91 million, or 4%, from $2.5 billion in 2015, driven by higher salaries and benefits, outside services expense, amortization of software and other operating expense, partially offset by the impact of a reclassification of card reward costs.", + "Provision for credit losses of $243 million in 2016 decreased $9 million, or 4%, from $252 million in 2015, largely reflecting the benefit of lower real estate secured net charge-offs.", + "consolidated 2005 results of operations was an estimated reduction of gross profit and a corresponding decrease to inventory, at cost, of $5.2 million.", + "Store pre-opening costs Pre-opening costs related to new store openings and the construction periods are expensed as incurred.", + "Property and equipment Property and equipment are recorded at cost.", + "The Company provides for depreciation and amortization on a straight-line basis over the following estimated useful lives:", + "|Land improvements|20|\n|Buildings|39-40|\n|Furniture, fixtures and equipment|3-10|\n", + "Improvements of leased properties are amortized over the shorter of the life of the applicable lease term or the estimated useful life of the asset.", + "Impairment of long-lived assets When indicators of impairment are present, the Company evaluates the carrying value of long-lived assets, other than goodwill, in relation to the operating performance and future cash flows or the appraised values of the underlying assets.", + "In accordance with SFAS 144, \u201cAccounting for the Impairment or Disposal of Long-Lived Assets,\u201d the Company reviews for impairment stores open more than two years for which current cash flows from operations are negative.", + "Impairment results when the carrying value of the assets exceeds the undiscounted future cash flows over the life of the lease.", + "The Company\u2019s estimate of undiscounted future cash flows over the lease term is based upon historical operations of the stores and estimates of future store profitability which encompasses many factors that are subject to variability and difficult to predict.", + "If a long-lived asset is found to be impaired, the amount recognized for impairment is equal to the difference between the carrying value and the asset\u2019s fair value.", + "The fair value is estimated based primarily upon future cash flows (discounted at the Company\u2019s credit adjusted risk-free rate) or other reasonable estimates of fair market value.", + "Assets to be disposed of are adjusted to the fair value less the cost to sell if less than the book value.", + "The Company recorded impairment charges, included in SG&A expense, of approximately $9.4 million in 2006, $0.6 million in 2005 and $0.2 million in 2004 to reduce the carrying value of certain of its stores\u2019 assets as deemed necessary due to negative sales trends and cash flows at these locations.", + "The majority of the 2006 charges were recorded pursuant to certain strategic initiatives discussed in Note 2.", + "Other assets Other assets consist primarily of long-term investments, qualifying prepaid expenses, debt issuance costs which are amortized over the life of the related obligations, utility and security deposits, life insurance policies and goodwill.", + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements The table below presents information about the allowance for credit losses.", + "||Year Ended December 2018|Year Ended December 2017|\n|$ in millions|Loans Receivable|Lending Commitments|Loans Receivable|Lending Commitments|\n|Changes in the allowance for credit losses||\n|Beginning balance|$ 803|$274|$ 509|$212|\n|Net charge-offs|-337|\u2013|-203|\u2013|\n|Provision|654|20|574|83|\n|Other|-54|-8|-77|-21|\n| Ending balance|$1,066|$286|$ 803|$274|\n|Allowance for losses by impairment methodology||\n|Specific|$ 102|$ 3|$ 119|$ 14|\n|Portfolio|848|283|518|260|\n|PCI|116|\u2013|166|\u2013|\n| Total|$1,066|$286|$ 803|$274|\n", + "In the table above: \u2030 Net charge-offs were primarily related to consumer loans and commercial real estate PCI loans for 2018 and primarily related to corporate loans for 2017.", + "\u2030 The provision for credit losses was primarily related to consumer loans and corporate loans for 2018 and primarily related to corporate loans and lending commitments, and commercial real estate loans for 2017.", + "\u2030 Other represents the reduction to the allowance related to loans and lending commitments transferred to held for sale.", + "\u2030 Portfolio level reserves were primarily related to corporate loans and lending commitments, specific loan-level reserves were substantially all related to corporate loans and reserves on PCI loans were related to real estate loans.", + "\u2030 Substantially all of the allowance for losses on lending commitments was related to corporate lending commitments.", + "\u2030 Allowance for loan losses as a percentage of total gross loans receivable was 1.3% as of December 2018 and 1.2% as of December 2017.", + "\u2030 Net charge-offs as a percentage of average total gross loans receivable were 0.5% for 2018 and 0.4% for 2017.", + "Note 10.", + "Collateralized Agreements and Financings Collateralized agreements are resale agreements and securities borrowed.", + "Collateralized financings are repurchase agreements, securities loaned and other secured financings.", + "The firm enters into these transactions in order to, among other things, facilitate client activities, invest excess cash, acquire securities to cover short positions and finance certain firm activities.", + "Collateralized agreements and financings are presented on a net-by-counterparty basis when a legal right of setoff exists.", + "Interest on collateralized agreements, which is included in interest income, and collateralized financings, which is included in interest expense, is recognized over the life of the transaction.", + "See Note 23 for further information about interest income and interest expense.", + "The table below presents the carrying value of resale and repurchase agreements and securities borrowed and loaned transactions.", + "||As of December|\n|$ in millions| 2018|2017|\n|Resale agreements| $139,258|$120,822|\n|Securities borrowed| $135,285|$190,848|\n|Repurchase agreements| $ 78,723|$ 84,718|\n|Securities loaned| $ 11,808|$ 14,793|\n", + "In the table above: \u2030 Substantially all resale agreements and all repurchase agreements are carried at fair value under the fair value option.", + "See Note 8 for further information about the valuation techniques and significant inputs used to determine fair value.", + "\u2030 Securities borrowed of $23.14 billion as of December 2018 and $78.19 billion as of December 2017, and securities loaned of $3.24 billion as of December 2018 and $5.36 billion as of December 2017 were at fair value.", + "Resale and Repurchase Agreements A resale agreement is a transaction in which the firm purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a stated price plus accrued interest at a future date.", + "A repurchase agreement is a transaction in which the firm sells financial instruments to a buyer, typically in exchange for cash, and simultaneously enters into an agreement to repurchase the same or substantially the same financial instruments from the buyer at a stated price plus accrued interest at a future date.", + "Even though repurchase and resale agreements (including \u201crepos- and reverses-to-maturity\u201d) involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be repurchased or resold before or at the maturity of the agreement.", + "The financial instruments purchased or sold in resale and repurchase agreements typically include U. S. government and agency, and investment-grade sovereign obligations.", + "Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations \u2013 CNA Financial \u2013 (Continued) expense reduction initiatives as compared with the same period in 2003.", + "Partially offsetting these favorable impacts was $14.0 million of estimated underwriting assessments related to the 2004 Florida hurricanes.", + "During 2004, additional bad debt provisions for insurance receivables of $150.0 million were recorded as compared to $242.0 million recorded in 2003.", + "The substantial bad debt provisions for insurance receivables in 2004 and 2003 were primarily related to Professional Employer Organization (\u201cPEO\u201d) accounts.", + "During 2002, Standard Lines ceased writing coverages for PEO businesses, with the last contracts expiring on June 30, 2003.", + "In the third quarter of 2003, CNA performed a review of PEO accounts to estimate ultimate losses and the indicated recoveries under retrospective premium or high-deductible provisions of the insurance contracts.", + "Based on the 2003 analysis of the credit standing of the individual PEO accounts and the amount of collateral held, CNA recorded an increase in the bad debt provision.", + "In the third quarter of 2004, the review of PEO accounts was updated and the population of accounts reviewed was expanded to include Temporary Help accounts as well.", + "Payroll audits performed since the last study identified that the exposure base for many accounts was higher than expected.", + "In addition, recovery estimates were updated based on current credit information on the insured.", + "Based on the updated study, CNA recorded an estimated bad debt provision of $95.0 million in the third quarter of 2004 for these accounts.", + "In 2004, the expense ratio was adversely impacted by an additional $55.0 million bad debt provision for insurance receivables.", + "The primary drivers of the provision were the completion of updated ultimate loss projections on all large account business where the insured is currently in bankruptcy and a comprehensive review of all billed balances that are past due.", + "The dividend ratio decreased 2.0 points in 2004 as compared with 2003 due to favorable net prior year dividend development of $23.0 million in 2004, as compared to unfavorable net prior year dividend development of $46.0 million in 2003, primarily related to workers compensation products.", + "The favorable 2004 dividend development was related to a review that was completed in 2004 which indicated dividends were lower than prior expectations based on decreased usage of dividend programs.", + "Specialty Lines The following table summarizes the results of operations for Specialty Lines for the years ended December 31, 2005, 2004 and 2003." + ], + "question_id": "simplong-test-228", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "How much of Home equity is there in total without California and New York?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JPMorgan Chase & Co. 132 JPMorgan Chase & Co. / 2007 Annual Report The Firm\u2019s policy for issuing shares upon settlement of employee share-based payment awards is to issue either new shares of common stock or treasury shares.", + "On April 17, 2007, the Board of Directors approved a stock repurchase program that authorizes the repurchase of up to $10.0 billion of the Firm\u2019s common shares, which super\u0002sedes an $8.0 billion stock repurchase program approved in 2006.", + "The $10.0 billion authorization includes shares to be repurchased to offset issuances under the Firm\u2019s employee stock-based plans.", + "During 2007, the Firm settled all of its employee stock-based awards by issuing treasury shares.", + "In December 2005, the Firm accelerated the vesting of approximately 41 million unvested, out-of-the-money employee stock options grant\u0002ed in 2001 under the Growth and Performance Incentive Program, which were scheduled to vest in January 2007.", + "These options were not modified other than to accelerate vesting.", + "The related expense was approximately $145 million, and was recognized as compensa\u0002tion expense in the fourth quarter of 2005.", + "The Firm believed that at the time the options were accelerated they had limited economic value since the exercise price of the accelerated options was $51.22 and the closing price of the Firm\u2019s common stock on the effective date of the acceleration was $39.69.", + "RSU activity Compensation expense for RSUs is measured based upon the num\u0002ber of shares granted multiplied by the stock price at the grant date, and is recognized in Net income as previously described.", + "The follow\u0002ing table summarizes JPMorgan Chase\u2019s RSU activity for 2007.", + "Year ended December 31, 2007", + "|(in thousands, exceptweighted-average data)|Number of options/SARs|Weighted-average exercise price|Weighted-average remaining contractual life (in years)|Aggregate intrinsic value|\n|Outstanding, January 1|376,227#|$ 40.31|||\n|Granted|21,446|46.65|||\n|Exercised|-64,453|34.73|||\n|Forfeited|-1,410|40.13|||\n|Canceled|-5,879|48.10|||\n| Outstanding, December 31|325,931#|$ 41.70|4.0|$1,601,780|\n|Exercisable, December 31|281,327|41.44|3.2|1,497,992|\n", + "The total fair value of shares that vested during the years ended December 31, 2007, 2006 and 2005, was $1.5 billion, $1.3 billion and $1.1 billion, respectively.", + "Employee stock option and SARs activity Compensation expense, which is measured at the grant date as the fair value of employee stock options and SARs, is recognized in Net income as described above.", + "The following table summarizes JPMorgan Chase\u2019s employee stock option and SARs activity for the year ended December 31, 2007, includ\u0002ing awards granted to key employees and awards granted in prior years under broad-based plans.", + "|(in thousands, except weighted average data)|Number of Shares|Weighted- average grant date fair value|\n|Outstanding, January 1|88,456#|$ 38.50|\n|Granted|47,608|48.29|\n|Vested|-30,925|38.09|\n|Forfeited|-6,122|42.56|\n| Outstanding, December 31|99,017#|$ 43.11|\n", + "The weighted-average grant date per share fair value of stock options and SARs granted during the years ended December 31, 2007, 2006 and 2005, was $13.38, $10.99 and $10.44, respectively.", + "The total intrinsic value of options exercised during the years ended December 31, 2007, 2006 and 2005 was $937 million, $994 million and $364 million, respectively.", + "Subprime adjustable-rate mortgage loan modifications See the Glossary of Terms on page 183 of this Annual Report for the Firm\u2019s definition of subprime loans.", + "Within the confines of the limited decision-making abilities of a QSPE under SFAS 140, the operating doc\u0002uments that govern existing subprime securitizations generally authorize the servicer to modify loans for which default is reasonably foreseeable, provided that the modification is in the best interests of the QSPE\u2019s ben\u0002eficial interest holders, and would not result in a REMIC violation.", + "In December 2007, the American Securitization Forum (\u201cASF\u201d) issued the \u201cStreamlined Foreclosure and Loss Avoidance Framework for Securitized Subprime Adjustable Rate Mortgage Loans\u201d (\u201cthe Framework\u201d).", + "The Framework provides guidance for servicers to stream\u0002line evaluation procedures for borrowers with certain subprime adjustable rate mortgage (\u201cARM\u201d) loans to more efficiently provide modifications of such loans with terms that are more appropriate for the individual needs of such borrowers.", + "The Framework applies to all first-lien subprime ARM loans that have a fixed rate of interest for an initial period of 36 months or less, are included in securitized pools, were originated between January 1, 2005, and July 31, 2007, and have an initial interest rate reset date between January 1, 2008, and July 31, 2010 (\u201cASF Framework Loans\u201d).", + "The Framework categorizes the population of ASF Framework Loans into three segments.", + "Segment 1 includes loans where the borrower is current and is likely to be able to refinance into any available mortgage product.", + "Segment 2 includes loans where the borrower is current, is unlikely to be able to refinance into any readily available mortgage industry product and meets certain defined criteria.", + "Segment 3 includes loans where the borrower is not current, as defined, and does not meet the criteria for Segments 1 or 2.", + "ASF Framework Loans in Segment 2 of the Framework are eligible for fast-track modification under which the interest rate will be kept at the existing initial rate, generally for five years following the interest rate reset date.", + "The Framework indicates that for Segment 2 loans, JPMorgan Chase, as servicer, may presume that the borrower will be unable to make payments pursuant to the original terms of the borrower\u2019s loan after the initial interest rate reset date.", + "Thus, the Firm may presume that a default on that loan by the borrower is reasonably foreseeable unless the terms of the loan are modified.", + "JPMorgan Chase has adopted the loss mitigation approaches under the Framework for securitized sub\u0002prime loans that meet the specific Segment 2 screening criteria, and it expects to begin modifying Segment 2 loans by the end of the first quar\u0002ter of 2008.", + "The Firm believes that the adoption of the Framework will not affect the off-balance sheet accounting treatment of JPMorgan Chase-sponsored QSPEs that hold Segment 2 subprime loans.", + "The total amount of assets owned by Firm-sponsored QSPEs that hold ASF Framework Loans (including those loans that are not serviced by the Firm) as of December 31, 2007, was $20.0 billion.", + "Of this amount, $9.7 billion relates to ASF Framework Loans serviced by the Firm.", + "Based on current economic conditions, the Firm estimates that approximately 20%, 10% and 70% of the ASF Framework Loans it services that are owned by Firm-sponsored QSPEs will fall within Segments 1, 2 and 3, respectively.", + "This estimate could change substantially as a result of unanticipated changes in housing values, economic conditions, investor/borrower behavior and other factors.", + "The total principal amount of beneficial interests issued by Firm-spon\u0002sored securitizations that hold ASF Framework Loans as of December 31, 2007, was as follows.", + "|December 31, 2007(in millions)|2007|\n|Third-party|$19,636|\n|Retained interest|412|\n|Total|$20,048|\n", + "The Firm regularly evaluates market conditions and overall economic returns and makes an initial determination of whether new origina\u0002tions will be held-for-investment or sold within the foreseeable future.", + "The Firm also periodically evaluates the expected economic returns of previously originated loans under prevailing market conditions to deter\u0002mine whether their designation as held-for-sale or held-for-investment continues to be appropriate.", + "When the Firm determines that a change in this designation is appropriate, the loans are transferred to the appropriate classification.", + "During the third and fourth quarters of 2007, in response to changes in market conditions, the Firm designat\u0002ed as held-for-investment all new originations of subprime mortgage loans, as well as subprime mortgage loans that were previously desig\u0002nated held-for-sale.", + "In addition, all new prime mortgage originations that cannot be sold to U. S. government agencies and U. S. govern\u0002ment-sponsored enterprises have been designated as held-for-invest\u0002ment.", + "Prime mortgage loans originated with the intent to sell are accounted for at fair value under SFAS 159 and are classified as Trading assets in the Consolidated Balance Sheets.", + "The following discussion relates to the specific loan and lending\u0002related categories within the consumer portfolio.", + "Home equity: Home equity loans at December 31, 2007, were $94.8 billion, an increase of $9.1 billion from year-end 2006.", + "The change in the portfolio from December 31, 2006, reflected organic growth.", + "The Provision for credit losses for the Home equity portfolio includes net increases of $1.0 billion to the Allowance for loan losses for the year ended December 31, 2007, as risk layered loans, contin\u0002ued weak housing prices and slowing economic growth have resulted in a significant increase in nonperforming assets and estimated losses, especially with respect to recently originated high loan-to-value loans in specific geographic regions that have experienced significant declines in housing prices.", + "The decline in housing prices and the sec\u0002ond lien position for these types of loans results in minimal proceeds upon foreclosure, increasing the severity of losses.", + "Although subprime Home equity loans do not represent a significant portion of the Home equity loan balance, the origination of subprime home equity loans was discontinued in the third quarter of 2007.", + "In addition, loss miti\u0002gation activities continue to be intensified, underwriting standards have been tightened and pricing actions have been implemented to reflect elevated risks related to the home equity portfolio.", + "The following tables present the geographic distribution of consumer credit outstandings by product as of December 31, 2007 and 2006.", + "Consumer loans by geographic region", + "| December 31, 2007 (in billions) |Home equity|Mortgage|Auto|Card reported|All other loans|Total consumer loans\u2013reported|Card securitized|Total consumer loans\u2013managed|\n| Top 12 states|||||||||\n|California|$14.9|$13.4|$5.0|$11.0|$1.0|$45.3|$9.6|$54.9|\n|New York|14.4|8.0|3.6|6.6|4.2|36.8|5.6|42.4|\n|Texas|6.1|2.0|3.7|5.8|3.5|21.1|5.4|26.5|\n|Florida|5.3|6.4|1.6|4.7|0.5|18.5|4.2|22.7|\n|Illinois|6.7|3.0|2.2|4.5|1.9|18.3|3.9|22.2|\n|Ohio|4.9|1.0|2.9|3.3|2.6|14.7|3.1|17.8|\n|New Jersey|4.4|2.2|1.7|3.3|0.5|12.1|3.1|15.2|\n|Michigan|3.7|1.6|1.3|2.9|2.3|11.8|2.5|14.3|\n|Arizona|5.7|1.5|1.8|1.7|1.8|12.5|1.4|13.9|\n|Pennsylvania|1.6|0.9|1.7|3.2|0.5|7.9|2.9|10.8|\n|Colorado|2.3|1.3|1.0|2.0|0.8|7.4|1.7|9.1|\n|Indiana|2.4|0.6|1.2|1.8|1.1|7.1|1.5|8.6|\n|All other|22.4|14.1|14.7|33.6|8.0|92.8|27.8|120.6|\n| Total|$94.8|$56.0|$42.4|$84.4|$28.7|$306.3|$72.7|$379.0|\n" + ], + "question_id": "simplong-test-229", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Principal balance outstanding At December 31 of Home Equity 2008, and Beginning Stores of 2010 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table sets forth information concerning increases in the total number of our AAP stores during the past five years:", + "||2011|2010|2009|2008|2007|\n|Beginning Stores|3,369|3,264|3,243|3,153|2,995|\n|New Stores-1|95|110|75|109|175|\n|Stores Closed|-4|-5|-54|-19|-17|\n|Ending Stores|3,460|3,369|3,264|3,243|3,153|\n", + "(1) Does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores.6WRUH\u00037HFKQRORJ\\\u0011\u0003 Our store-based information systems, which are designed to improve the efficiency of our operations and enhance customer service, are comprised of a proprietary POS system and electronic parts catalog, or EPC, system.", + "Information maintained by our POS system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly.", + "Our POS system is fully integrated with our EPC system and enables our store Team Members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles.", + "Our centrally-based EPC data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information.", + "Our EPC system also contains enhanced search engines and user-friendly navigation tools that enhance our Team Members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project.", + "If a hard-to-find part or accessory is not available at one of our stores, the EPC system can determine whether the part is carried and in-stock through our HUB or PDQ?", + "networks or can be ordered directly from one of our vendors.", + "Available parts and accessories are then ordered electronically from another store, HUB, PDQ?", + "or directly from the vendor with immediate confirmation of price, availability and estimated delivery time.", + "We also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities.", + "Our store-level inventory management system provides real-time inventory tracking at the store level.", + "With the store-level system, store Team Members can check the quantity of on-hand inventory for any SKU, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate SKUs for cycle counts and track merchandise transfers.", + "Our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory.", + "Our standard operating procedure, or SOP, system is a web-based, electronic data management system that provides our Team Members with instant access to any of our standard operating procedures through a comprehensive on-line search function.", + "All of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, Team Member productivity and in-stock availability.6WRUH\u00036XSSRUW\u0003&HQWHU\u0003 0HUFKDQGLVLQJ\u0011\u0003 Purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: ?", + "Store support center in Roanoke, Virginia; ?", + "Regional office in Minneapolis, Minnesota; and ?", + "Global sourcing office in Taipei, Taiwan.", + "Our Roanoke team is primarily responsible for the parts categories and our Minnesota team is primarily responsible for accessories, oil and chemicals.", + "Our global sourcing team works closely with both teams.", + "In Fiscal 2011, we purchased merchandise from approximately 500 vendors, with no single vendor accounting for more than 9% of purchases.", + "Our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume.", + "The merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand.", + "We believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity.", + "There were no new securitizations of home equity loans during 2009 and 2008.", + "The following table summarizes selected information related to home equity and automobile loan securitizations at and for the year ended December 31, 2009 and 2008.", + "|| Home Equity|Automobile|\n|(Dollars in millions)| 2009|2008| 2009|2008|\n| For the Year Ended December 31|||||||\n|Cash proceeds from new securitizations| $| \u2013|$\u2013| $| \u2013|$741|\n|Losses on securitizations-1| | \u2013|\u2013| | \u2013|-31|\n|Collections reinvested in revolving period securitizations| | 177|235| | \u2013|\u2013|\n|Repurchases of loans from trust-2| | 268|128| | 298|184|\n|Cash flows received on residual interests| | 35|27| | 52|\u2013|\n| At December 31|||||||\n|Principal balance outstanding| | 46,282|34,169| | 2,656|5,385|\n|Senior securities held-3, 4| | 15|\u2013| | 2,119|4,102|\n|Subordinated securities held-5| | 48|3| | 195|383|\n|Residual interests held-6| | 100|93| | 83|84|\n", + "(1) Net of hedges (2) Repurchases of loans from the trust for home equity loans are typically a result of the Corporation\u2019s representations and warranties, modifications or the exercise of an optional clean-up call.", + "In addition, during 2009 and 2008, the Corporation paid $141 million and $34 million to indemnify the investor or insurer under the representations and warranties, and corporate guarantees.", + "For further information regarding representations and warranties, and corporate guarantees, see the First Lien Mortgage-related Securitizations discussion.", + "Repurchases of automobile loans during 2009 and 2008 were due to the exercise of an optional clean-up call.", + "(3) As a holder of these securities, the Corporation receives scheduled interest and principal payments.", + "During 2009, there were no other-than-temporary impairment losses recorded on those securities classified as AFS debt securities.", + "(4) At December 31, 2009, all of the held senior securities issued by the home equity securitization trusts were valued using quoted market prices and classified as trading account assets.", + "At December 31, 2009 and 2008, substantially all of the held senior securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(5) At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the home equity securitization trusts were valued using model valuations and classified as AFS debt securities.", + "At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(6) Residual interests include the residual asset, overcollateralization and cash reserve accounts, which are carried at fair value or amounts that approximate fair value.", + "The residual interests were derived using model valuations and substantially all are classified in other assets.", + "Under the terms of the Corporation\u2019s home equity securitizations, advances are made to borrowers when they draw on their lines of credit and the Corporation is reimbursed for those advances from the cash flows in the securitization.", + "During the revolving period of the securitiza\u0002tion, this reimbursement normally occurs within a short period after the advance.", + "However, when the securitization transaction has begun a rapid amortization period, reimbursement of the Corporation\u2019s advance occurs only after other parties in the securitization have received all of the cash flows to which they are entitled.", + "This has the effect of extending the time period for which the Corporation\u2019s advances are outstanding.", + "In partic\u0002ular, if loan losses requiring draws on monoline insurers\u2019 policies, which protect the bondholders in the securitization, exceed a specified thresh\u0002old or duration, the Corporation may not receive reimbursement for all of the funds advanced to borrowers, as the senior bondholders and the monoline insurers have priority for repayment.", + "The Corporation evaluates all of its home equity securitizations for their potential to experience a rapid amortization event by estimating the amount and timing of future losses on the underlying loans, the excess spread available to cover such losses and by evaluating any estimated shortfalls in relation to contractually defined triggers.", + "A maximum funding obligation attributable to rapid amortization cannot be calculated as a home equity borrower has the ability to pay down and redraw balances.", + "At December 31, 2009 and 2008, home equity securitization transactions in rapid amortization had $14.1 billion and $13.1 billion of trust certifi\u0002cates outstanding.", + "This amount is significantly greater than the amount the Corporation expects to fund.", + "At December 31, 2009, an additional $1.1 billion of trust certificates outstanding pertain to home equity securi\u0002tization transactions that are expected to enter rapid amortization during the next 24 months.", + "The charges that will ultimately be recorded as a result of the rapid amortization events are dependent on the performance of the loans, the amount of subsequent draws, and the timing of related cash flows.", + "At December 31, 2009 and 2008, the reserve for losses on expected future draw obligations on the home equity securitizations in or expected to be in rapid amortization was $178 million and $345 million.", + "The Corporation has consumer MSRs from the sale or securitization of home equity loans.", + "The Corporation recorded $128 million and $78 mil\u0002lion of servicing fee income related to home equity securitizations during 2009 and 2008.", + "For more information on MSRs, see Note 22 \u2013 Mortgage Servicing Rights.", + "At December 31, 2009 and 2008, there were no recog\u0002nized servicing assets or liabilities associated with any of the automobile securitization transactions.", + "The Corporation recorded $43 million and $30 million in servicing fees related to automobile securitizations during 2009 and 2008.", + "The Corporation provides financing to certain entities under asset\u0002backed financing arrangements.", + "These entities are controlled and con\u0002solidated by third parties.", + "At December 31, 2009, the principal balance outstanding for these asset-backed financing arrangements was $10.4 billion, the maximum loss exposure was $6.8 billion, and on-balance sheet assets were $6.7 billion which are primarily recorded in loans and leases.", + "The total cash flows for 2009 were $491 million and are primarily related to principal and interest payments received.", + "NOTE 9 \u2013 Variable Interest Entities The Corporation utilizes SPEs in the ordinary course of business to sup\u0002port its own and its customers\u2019 financing and investing needs.", + "These SPEs are typically structured as VIEs and are thus subject to con\u0002solidation by the reporting enterprise that absorbs the majority of the economic risks and rewards of the VIE.", + "To determine whether it must consolidate a VIE, the Corporation qualitatively analyzes the design of the VIE to identify the creators of variability within the VIE, including an assessment as to the nature of the risks that are created by the assets and other contractual arrangements of the VIE, and identifies whether it will absorb a majority of that variability.", + "In addition, the Corporation uses VIEs such as trust preferred secu\u0002rities trusts in connection with its funding activities, as described in more detail in Note 13 \u2013 Long-term Debt.", + "The Corporation also uses VIEs in the form of synthetic securitization vehicles to mitigate a portion of the credit risk on its residential mortgage loan portfolio as described in", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 54 LIQUIDITY AND CAPITAL RESOURCES Cash, cash equivalents and marketable investment securities.", + "We consider all liquid investments purchased within 90 days of their maturity to be cash equivalents.", + "See \u201cItem 7A.", + "\u2013 Quantitative and Qualitative Disclosures About Market Risk\u201d for further discussion regarding our marketable investment securities.", + "As of December 31, 2008, our cash, cash equivalents and current marketable investment securities totaled $559 million compared to $2.788 billion as of December 31, 2007, a decrease of $2.229 billion.", + "Our principal source of liquidity during 2008 was cash generated by operating activities of $2.188 billion, approximately $750 million raised in issuing our 7 ?% Senior Notes due 2015 and the net sales of marketable and strategic investments of $166 million.", + "Our primary uses of cash during 2008 were for the redemption of $1.5 billion of debt, the purchases of property and equipment of $1.130 billion, the acquisition of 700 MHz wireless spectrum for $712 million, the distribution of $1.532 billion to EchoStar related to the Spin-off, and the repurchase of 3.1 million shares of our common stock for $83 million.", + "In addition, we reclassified $240 million of marketable investment securities on hand at December 31, 2007 to noncurrent assets during 2008 as recent events in the credit markets have reduced or eliminated current liquidity for these investments.", + "The following discussion highlights our free cash flow and cash flow activities during the years ended December 31, 2008, 2007 and 2006.", + "Free cash flow.", + "We define free cash flow as \u201cNet cash flows from operating activities\u201d less \u201cPurchases of property and equipment,\u201d as shown on our Consolidated Statements of Cash Flows.", + "We believe free cash flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to repay debt obligations, make investments, fund acquisitions and for certain other activities.", + "Free cash flow is not a measure determined in accordance with GAAP and should not be considered a substitute for \u201cOperating income,\u201d \u201cNet income,\u201d \u201cNet cash flows from operating activities\u201d or any other measure determined in accordance with GAAP.", + "Since free cash flow includes investments in operating assets, we believe this non-GAAP liquidity measure is useful in addition to the most directly comparable GAAP measure - \u201cNet cash flows from operating activities.", + "\u201d During the years ended December 31, 2008, 2007 and 2006, free cash flow was significantly impacted by changes in operating assets and liabilities as shown in the \u201cNet cash flows from operating activities\u201d section of our Consolidated Statements of Cash Flows included herein.", + "Operating asset and liability balances can fluctuate significantly from period to period and there can be no assurance that free cash flow will not be negatively impacted by material changes in operating assets and liabilities in future periods, since these changes depend upon, among other things, management\u2019s timing of payments and control of inventory levels, and cash receipts.", + "In addition to fluctuations resulting from changes in operating assets and liabilities, free cash flow can vary significantly from period to period depending upon, among other things, subscriber growth, subscriber revenue, subscriber churn, subscriber acquisition costs including amounts capitalized under our equipment lease programs, operating efficiencies, increases or decreases in purchases of property and equipment and other factors.", + "The following table reconciles free cash flow to \u201cNet cash flows from operating activities.", + "\u201d", + "|| For the Years Ended December 31,|\n|| 2008| 2007 (In thousands)| 2006|\n|Free cash flow|$1,058,454|$1,172,198|$882,924|\n|Add back:||||\n|Purchases of property and equipment|1,129,890|1,444,522|1,396,318|\n|Net cash flows from operating activities|$2,188,344|$2,616,720|$2,279,242|\n", + "The decline in free cash flow from 2007 to 2008 of $114 million resulted from a decrease in \u201cNet cash flows from operating activities\u201d of $429 million, or 16.4%, partially offset by a decrease in \u201cPurchases of property and equipment\u201d of $315 million, or 21.8%.", + "The decrease in \u201cNet cash flows from operating activities\u201d was primarily attributable to a $351 million decrease in cash resulting from changes in operating assets and liabilities and a $59 million decrease in net income, adjusted to exclude non-cash changes in \u201cDepreciation and amortization\u201d expense and \u201cRealized and", + "Notes to Consolidated Financial Statements Note 16.", + "Statutory Accounting Practices (Unaudited) CNA\u2019s domestic insurance subsidiaries maintain their accounts in conformity with accounting practices prescribed or permitted by insurance regulatory authorities, which vary in certain respects from GAAP.", + "In converting from statutory accounting principles to GAAP, typical adjustments include deferral of policy acquisition costs and the inclusion of net unrealized holding gains or losses in shareholders\u2019 equity relating to certain fixed maturity securities.", + "CNA\u2019s insurance subsidiaries are domiciled in various jurisdictions.", + "These subsidiaries prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the respective jurisdictions\u2019 insurance regulators.", + "Prescribed statutory accounting practices are set forth in a variety of publications of the National Association of Insurance Commissioners (\u201cNAIC\u201d) as well as state laws, regulations and general administrative rules.", + "CCC follows a permitted practice related to the statutory provision for reinsurance, or the uncollectible reinsurance reserve.", + "This permitted practice allows CCC to record an additional uncollectible reinsurance reserve amount through a different financial statement line item than the prescribed statutory convention.", + "This permitted practice had no effect on CCC\u2019s statutory surplus at December 31, 2007 or 2006.", + "CNA\u2019s ability to pay dividends and other credit obligations is significantly dependent on receipt of dividends from its subsidiaries.", + "The payment of dividends to CNA by its insurance subsidiaries without prior approval of the insurance department of each subsidiary\u2019s domiciliary jurisdiction is limited by formula.", + "Dividends in excess of these amounts are subject to prior approval by the respective state insurance departments.", + "Dividends from CCC are subject to the insurance holding company laws of the State of Illinois, the domiciliary state of CCC.", + "Under these laws, ordinary dividends, or dividends that do not require prior approval of the Illinois Department of Financial and Professional Regulation \u2013 Division of Insurance (the \u201cDepartment\u201d), may be paid only from earned surplus, which is calculated by removing unrealized gains from unassigned surplus.", + "As of December 31, 2007, CCC is in a positive earned surplus position, enabling CCC to pay approximately $630 million of dividend payments during 2008 that would not be subject to the Department\u2019s prior approval.", + "The actual level of dividends paid in any year is determined after an assessment of available dividend capacity, holding company liquidity and cash needs as well as the impact the dividends will have on the statutory surplus of the applicable insurance company.", + "CNA\u2019s domestic insurance subsidiaries are subject to risk-based capital requirements.", + "Risk-based capital is a method developed by the NAIC to determine the minimum amount of statutory capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile.", + "The formula for determining the amount of risk-based capital specifies various factors, weighted based on the perceived degree of risk, which are applied to certain financial balances and financial activity.", + "The adequacy of a company\u2019s actual capital is evaluated by a comparison to the risk-based capital results, as determined by the formula.", + "Companies below minimum risk-based capital requirements are classified within certain levels, each of which requires specified corrective action.", + "As of December 31, 2007 and 2006, all of CNA\u2019s domestic insurance subsidiaries exceeded the minimum risk-based capital requirements.", + "Combined statutory capital and surplus and net income, determined in accordance with accounting practices prescribed or permitted by insurance regulatory authorities for the property and casualty and the life insurance subsidiaries, were as follows:" + ], + "question_id": "simplong-test-230", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Working capital of 2012, and Monterra del Sol of RentableSquareFootage ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following tables describe the Company\u2019s Portfolio as of December 31, 2011.", + "The first table describes the Company\u2019s communities and the second table describes the Company\u2019s other real estate assets.", + "(See Note 7 of the Company\u2019s consolidated financial statements for more information about the Company\u2019s secured mortgage debt and Schedule III for a list of secured mortgage loans related to the Company\u2019s Portfolio. )", + "|Communities-1|Location|Units|RentableSquareFootage|YearBuilt|YearAcquired|Occupancy-2|\n|Southern California|||||||\n|Alpine Country|Alpine, CA|108|81,900|1986|2002|95%|\n|Alpine Village|Alpine, CA|301|254,400|1971|2002|97%|\n|Anavia|Anaheim, CA|250|312,343|2009|2010|92%|\n|Barkley, The-3(4)|Anaheim, CA|161|139,800|1984|2000|97%|\n|Bonita Cedars|Bonita, CA|120|120,800|1983|2002|96%|\n|Camarillo Oaks|Camarillo, CA|564|459,000|1985|1996|96%|\n|Camino Ruiz Square|Camarillo, CA|160|105,448|1990|2006|98%|\n|Cielo -5|Chatsworth, CA|119|125,400|2009|2009|96%|\n|Cambridge|Chula Vista, CA|40|22,100|1965|2002|96%|\n|Mesa Village|Clairemont, CA|133|43,600|1963|2002|98%|\n|Parcwood-5|Corona, CA|312|270,000|1989|2004|95%|\n|Tierra del Sol/Norte|El Cajon, CA|156|117,000|1969|2002|97%|\n|Regency at Encino|Encino, CA|75|78,487|1989|2009|96%|\n|Valley Park-6|Fountain Valley, CA|160|169,700|1969|2001|97%|\n|Capri at Sunny Hills-6|Fullerton, CA|100|128,100|1961|2001|97%|\n|Wilshire Promenade|Fullerton, CA|149|128,000|1992|1997|97%|\n|Montejo-6|Garden Grove, CA|124|103,200|1974|2001|96%|\n|CBC Apartments|Goleta, CA|148|91,538|1962|2006|96%|\n|Chimney Sweep Apartments|Goleta, CA|91|88,370|1967|2006|83%|\n|416 on Broadway|Glendale, CA|115|126,782|2009|2010|93%|\n|Hampton Court|Glendale, CA|83|71,500|1974|1999|97%|\n|Hampton Place|Glendale, CA|132|141,500|1970|1999|97%|\n|Devonshire|Hemet, CA|276|207,200|1988|2002|94%|\n|Huntington Breakers|Huntington Beach, CA|342|241,700|1984|1997|96%|\n|Axis 2300|Irvine, CA|115|170,714|2010-7|2010|96%|\n|Hillsborough Park|La Habra, CA|235|215,500|1999|1999|97%|\n|Trabuco Villas|Lake Forest, CA|132|131,000|1985|1997|97%|\n|Marbrisa|Long Beach, CA|202|122,800|1987|2002|97%|\n|Pathways|Long Beach, CA|296|197,700|1975-8|1991|96%|\n|Belmont Station|Los Angeles, CA|275|225,000|2008|2008|97%|\n|Bellerive|Los Angeles, CA|63|79,296|2011|2011|99%|\n|Bunker Hill|Los Angeles, CA|456|346,600|1968|1998|96%|\n|Cochran Apartments|Los Angeles, CA|58|51,400|1989|1998|97%|\n|Kings Road|Los Angeles, CA|196|132,100|1979-9|1997|97%|\n|Marbella, The|Los Angeles, CA|60|50,108|1991|2005|97%|\n|Park Place|Los Angeles, CA|60|48,000|1988|1997|97%|\n|Renaissance, The-5|Los Angeles, CA|169|154,268|1990-10|2006|97%|\n|Santee Court|Los Angeles, CA|165|132,040|2004|2010|93%|\n|Santee Village|Los Angeles, CA|73|69,817|2011|2010|99%|\n|Windsor Court|Los Angeles, CA|58|46,600|1988|1997|97%|\n|Marina City Club-11|Marina Del Rey, CA|101|127,200|1971|2004|98%|\n|Mirabella|Marina Del Rey, CA|188|176,800|2000|2000|97%|\n|Mira Monte|Mira Mesa, CA|355|262,600|1982-12|2002|97%|\n|Hillcrest Park|Newbury Park, CA|608|521,900|1973|1998|96%|\n|Fairways-13|Newport Beach, CA|74|107,100|1972|1999|98%|\n|Muse|North Hollywood, CA|152|135,292|2011|2011|99%|\n|Country Villas|Oceanside, CA|180|179,700|1976|2002|96%|\n|Mission Hills|Oceanside, CA|282|244,000|1984|2005|96%|\n|Mariners Place|Oxnard, CA|105|77,200|1987|2000|97%|\n|Monterey Villas|Oxnard, CA|122|122,100|1974|1997|96%|\n|Tierra Vista|Oxnard, CA|404|387,100|2001|2001|97%|\n|Arbors Parc Rose-14|Oxnard, CA|373|503,196|2001|2011|94%|\n|Monterra del Mar|Pasadena, CA|123|74,400|1972|1997|96%|\n|Monterra del Rey|Pasadena, CA|84|73,100|1972|1999|97%|\n|Monterra del Sol|Pasadena, CA|85|69,200|1972|1999|97%|\n|Villa Angelina-6|Placentia, CA|256|217,600|1970|2001|97%|\n", + "As of December 31, 2011, the Company had ownership interests in 159 communities, comprising 32,753 apartment units, and the apartment communities are located in the following major West Coast regions: Southern California (Los Angeles, Orange, Riverside, Santa Barbara, San Diego, and Ventura counties) Northern California (the San Francisco Bay Area) Seattle Metro (Seattle metropolitan area) As of December 31, 2011, the Company also had ownership interests in five commercial buildings (with approximately 315,900 square feet).", + "As of December 31, 2011, the Company\u2019s development pipeline was comprised of five unconsolidated joint venture projects under development, one unconsolidated joint venture predevelopment project and three consolidated land parcels held for future development or sale aggregating 2,014 units, with total incurred costs of $227.1 million, and estimated remaining project costs of approximately $282.6 million for total estimated project costs of $422.6 million.", + "By region, the Company's operating results for 2010 and 2011 and projections for 2012 new housing supply, job growth, and rental income as follows: Southern California Region: As of December 31, 2011, this region represented 48% of the Company\u2019s consolidated apartment units.", + "During the year ended December 31, 2011, revenues for \u201c2011/2010 Same\u0002Properties\u201d (as defined below), or \u201cSame-Property revenues,\u201d increased 2.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply (excluding Santa Barbara and Riverside counties) of 5,400 multifamily and 5,100 single family homes, which represents a total new supply of 0.2% and 0.1% of existing stock, respectively.", + "The Company assumes an increase of 78,800 jobs or 1.2%, and an increase in rental income of 3.0% to 5.0% in 2012.", + "Northern California Region: As of December 31, 2011, this region represented 30% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 5.7% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 3,000 multifamily and 2,200 single family homes, which represents a total new supply of 0.3% and 0.2%, respectively, of existing stock.", + "The Company assumes an increase of 48,000 jobs or 1.7%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "Seattle Metro Region: As of December 31, 2011, this region represented 22% of the Company\u2019s consolidated apartment units.", + "Same-Property revenues increased 4.6% in 2011 as compared to 2010.", + "In 2012, the Company expects new residential supply of 1,800 multifamily and 3,400 single family homes, which represents a total new supply of 0.5% of existing stock.", + "The Company assumes an increase of 25,000 jobs or 1.8%, and an increase in rental income of 7.0% to 9.0% in 2012.", + "The Company expects 2012 same-property revenues to increase between 5% and 7% compared to 2011 results, as renewal leases and new leases are signed at higher rents than 2011 during 2012.", + "The Company expects same\u0002property financial occupancy to be consistent with 2011 at 96.4%, thus 2012 revenues will increase 5% to 7% due to a similar increase in scheduled rent.", + "Same-property operating expenses are expected to increase from 1.1% in 2011, to a range of 2% and 3% in 2012.", + "Finally, same-property net operating income (\u201cNOI\u201d) which is defined as same\u0002property revenues less same-property operating expenses is expected to increase from 5.5% for 2011 to a range of 7% to 9% in 2012.", + "The Company\u2019s consolidated communities are as follows:", + "||As of December 31, 2011|As of December 31, 2010|\n||Apartment Units|%|Apartment Units|%|\n|Southern California|13,205|48%|13,076|49%|\n|Northern California|8,106|30%|7,696|29%|\n|Seattle Metro|6,108|22%|5,980|22%|\n|Total|27,419|100%|26,752|100%|\n", + "Co-investments including Fund II and Wesco I communities, Essex Skyline at MacArthur Place, and preferred equity co-investment communities are not included in the table presented above for both years.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Liquidity and Capital Resources Snap-on\u2019s growth has historically been funded by a combination of cash provided by operating activities and debt financing.", + "Snap-on believes that its cash from operations and collections of finance receivables, coupled with its sources of borrowings and available cash on hand, are sufficient to fund its currently anticipated requirements for scheduled debt payments (including the March 2014 repayment of $100.0 million of 5.85% unsecured notes upon maturity), payments of interest and dividends, new receivables originated by our financial services businesses, capital expenditures, working capital, restructuring activities, the funding of pension plans, and funding for additional share repurchases and acquisitions, if any.", + "Due to Snap-on\u2019s credit rating over the years, external funds have been available at an acceptable cost.", + "As of the close of business on February 7, 2014, Snap-on\u2019s long-term debt and commercial paper were rated, respectively, A3 and P-2 by Moody\u2019s Investors Service; A- and A-2 by Standard & Poor\u2019s; and A- and F2 by Fitch Ratings.", + "Snap-on believes that its current credit arrangements are sound and that the strength of its balance sheet affords the company the financial flexibility to respond to both internal growth opportunities and those available through acquisitions.", + "However, Snap-on cannot provide any assurances of the availability of future financing or the terms on which it might be available, or that its debt ratings may not decrease.", + "The following discussion focuses on information included in the accompanying Consolidated Balance Sheets.", + "As of 2013 year end, working capital (current assets less current liabilities) of $1,080.8 million increased $1.0 million from $1,079.8 million as of 2012 year end.", + "The following represents the company\u2019s working capital position as of 2013 and 2012 year end:", + "|(Amounts in millions)|2013|2012|\n|Cash and cash equivalents|$217.6|$214.5|\n|Trade and other accounts receivable \u2013 net|531.6|497.9|\n|Finance receivables \u2013 net|374.6|323.1|\n|Contract receivables \u2013 net|68.4|62.7|\n|Inventories \u2013 net|434.4|404.2|\n|Other current assets|169.6|166.6|\n|Total current assets|1,796.2|1,669.0|\n|Notes payable and current maturities of long-term debt|-113.1|-5.2|\n|Accounts payable|-155.6|-142.5|\n|Other current liabilities|-446.7|-441.5|\n|Total current liabilities|-715.4|-589.2|\n|Working capital|$1,080.8|$1,079.8|\n", + "Cash and cash equivalents of $217.6 million as of 2013 year end compared to cash and cash equivalents of $214.5 million at 2012 year end.", + "The $3.1 million net increase in cash and cash equivalents includes the impacts of (i) $508.8 million of cash from collections of finance receivables; (ii) $392.6 million of cash generated from operations, net of $24.3 million of discretionary cash contributions to the company\u2019s pension plans; (iii) $29.2 million of cash proceeds from stock purchase and option plan exercises; and (iv) $8.4 million of cash proceeds from the sale of property and equipment.", + "These increases in cash and cash equivalents were largely offset by (i) the funding of $651.3 million of new finance receivables; (ii) dividend payments to shareholders of $92.0 million; (iii) the repurchase of 926,000 shares of the company\u2019s common stock for $82.6 million; (iv) the funding of $70.6 million of capital expenditures; and (v) the May 2013 acquisition of Challenger for a cash purchase price of $38.2 million.", + "Of the $217.6 million of cash and cash equivalents as of 2013 year end, $124.3 million was held outside of the United States.", + "Snap-on considers these non-U.", + "S. funds as permanently invested in its foreign operations to (i) provide adequate working capital; (ii) satisfy various regulatory requirements; and/or (iii) take advantage of business expansion opportunities as they arise; as such, the company does not presently expect to repatriate these funds to fund its U. S. operations or obligations.", + "The repatriation of cash from certain foreign subsidiaries could have adverse net tax consequences on the company should Snap-on be required to pay and record U. S. income taxes and foreign withholding taxes on funds that were previously considered permanently invested.", + "Alternatively, the repatriation of such cash from certain other foreign subsidiaries could result in favorable net tax consequences for the company.", + "Snap-on periodically evaluates opportunities to repatriate certain foreign cash amounts to the extent that it does not incur additional unfavorable net tax consequences." + ], + "question_id": "simplong-test-231", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the mathematical range of deferred acquisition payments from 2018-2022 , in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) During 2017, we completed ten acquisitions, eight of which were included in the Integrated Agency Networks (\u201cIAN\u201d) operating segment, and two of which were included in the Constituency Management Group (\u201cCMG\u201d) operating segment.", + "These acquisitions included a digital marketing agency based in the U. S. , a data science and business intelligence firm based in the U. S. with operations in China, an advertising and consulting company based in Indonesia, a strategic communications agency based in the U. K. , an independent creative agency based in the U. K. , a retail branding and design firm based in the U. S. , a content creation and marketing agency based in the Netherlands, an independent media agency and digital consultancy based in Finland, and an integrated marketing communications agency based in Canada.", + "During 2017, we recorded approximately $62.0 of goodwill and intangible assets related to our acquisitions.", + "During 2016, we completed ten acquisitions, three of which were included in the IAN operating segment, and seven of which were included in the CMG operating segment.", + "The most significant acquisitions included a product and service design consultancy based in the U. S. , an integrated healthcare marketing communications agency based in the U. S. , a content creation and digital agency with offices in the U. S. and the U. K. , a mobile consultancy and application development agency based in the U. K. , a full-service public relations and digital agency based in China, a search engine optimization and digital content marketing agency based in the U. K. , and a mobile focused digital agency based in the U. K. During 2016, we recorded approximately $149.0 of goodwill and intangible assets related to these acquisitions.", + "During 2015, we completed five acquisitions, four of which were included in the IAN operating segment, and one of which was included in the CMG operating segment.", + "The most significant acquisitions included a full-service digital agency in the U. K. , a group of creative marketing agencies based in Russia, and a media planning and buying agency with significant digital capabilities in Canada.", + "During 2015, we recorded approximately $61.0 of goodwill and intangible assets related to these acquisitions.", + "The results of operations of our acquired companies were included in our consolidated results from the closing date of each acquisition.", + "We did not make any payments in stock related to our acquisitions in 2017, 2016 or 2015.", + "Details of cash paid for current and prior years\u2019 acquisitions are listed below.", + "||Years ended December 31,|\n||2017|2016|2015|\n|Cost of investment: current-year acquisitions|$36.8|$65.7|$37.8|\n|Cost of investment: prior-year acquisitions|54.6|40.7|53.1|\n|Less: net cash acquired|-7.1|-13.6|-9.2|\n|Total cost of investment|84.3|92.8|81.7|\n|Operating payments1|47.1|19.1|18.4|\n|Total cash paid for acquisitions2|$131.4|$111.9|$100.1|\n", + "1 Represents cash payments for amounts that have been recognized in operating expenses since the date of acquisition either relating to adjustments to estimates in excess of the initial value of contingent payments recorded or were contingent upon the future employment of the former owners of the acquired companies.", + "Amounts are reflected in the operating section of the Consolidated Statements of Cash Flows.2 Of the total cash paid for acquisitions, $30.6, $52.0 and $28.6 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the investing section of the Consolidated Statements of Cash Flows as acquisitions, net of cash acquired.", + "These amounts relate to initial payments for new transactions.", + "Of the total cash paid for acquisitions, $53.7, $40.8 and $53.1 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the financing section of the Consolidated Statements of Cash Flows as acquisition-related payments.", + "These amounts relate to deferred payments and increases in our ownership interest for prior acquisitions.", + "For companies acquired, we estimate the fair values of the assets and liabilities based on 100% of the business for consolidation.", + "The purchase price in excess of the estimated fair value of the tangible net assets acquired is allocated to identifiable intangible assets and then to goodwill.", + "Due to the characteristics of advertising, specialized marketing and communication services companies, our acquisitions typically do not have significant amounts of tangible assets since the principal assets we acquire are client relationships and talent.", + "As a result, a substantial portion of the purchase price is primarily allocated to customer lists, trade names and goodwill.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Guarantees We have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries.", + "The amount of parent company guarantees on lease obligations was $829.2 and $857.3 as of December 31, 2017 and 2016, respectively, and the amount of parent company guarantees primarily relating to uncommitted lines of credit was $491.0 and $395.6 as of December 31, 2017 and 2016, respectively.", + "In the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee.", + "As of December 31, 2017, there were no material assets pledged as security for such parent company guarantees.", + "Contingent Acquisition Obligations The following table details the estimated future contingent acquisition obligations payable in cash as of December 31, 2017.", + "||2018|2019|2020|2021|2022|Thereafter|Total|\n|Deferred acquisition payments|$41.9|$27.5|$16.1|$24.4|$4.8|$6.3|$121.0|\n|Redeemable noncontrolling interests and call options with affiliates1|37.1|26.4|62.9|10.3|6.6|4.1|147.4|\n|Total contingent acquisition payments|$79.0|$53.9|$79.0|$34.7|$11.4|$10.4|$268.4|\n", + "1 We have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions.", + "The estimated amounts listed would be paid in the event of exercise at the earliest exercise date.", + "We have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of December 31, 2017.", + "These estimated payments of $24.8 are included within the total payments expected to be made in 2018, and will continue to be carried forward into 2019 or beyond until exercised or expired.", + "Redeemable noncontrolling interests are included in the table at current exercise price payable in cash, not at applicable redemption value, in accordance with the authoritative guidance for classification and measurement of redeemable securities.", + "The majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements.", + "See Note 4 for further information relating to the payment structure of our acquisitions.", + "Legal Matters In the normal course of business, we are involved in various legal proceedings, and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities.", + "The types of allegations that arise in connection with such legal proceedings vary in nature, but can include claims related to contract, employment, tax and intellectual property matters.", + "We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated.", + "In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages.", + "While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.", + "As previously disclosed, on April 10, 2015, a federal judge in Brazil authorized the search of the records of an agency\u2019s offices in S?o Paulo and Brasilia, in connection with an ongoing investigation by Brazilian authorities involving payments potentially connected to local government contracts.", + "The Company had previously investigated the matter and taken a number of remedial and disciplinary actions.", + "The Company is in the process of concluding a settlement related to these matters with government agencies.", + "The Company confirmed that one of its standalone domestic agencies has been contacted by the Department of Justice Antitrust Division for documents regarding video production practices and is cooperating with the government.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Assumption", + "||Domestic Pension Plan|Foreign Pension Plans|Domestic Postretirement Benefit Plan|\n|Years ended December 31,|2018|2017|2016|2018|2017|2016|2018|2017|2016|\n|Net periodic cost||||||||||\n|Discount rate|3.70%|4.20%|4.80%|2.36%|2.52%|3.61%|3.65%|4.05%|4.65%|\n|Rate of compensation increase|N/A|N/A|N/A|2.37%|2.36%|3.18%|N/A|N/A|N/A|\n|Expected return on plan assets|7.00%|7.00%|7.00%|4.70%|4.66%|5.38%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.31%|1.29%|1.35%|N/A|N/A|N/A|\n|Benefit obligation||||||||||\n|Discount rate|4.35%|3.70%|4.20%|2.61%|2.36%|2.52%|4.30%|3.65%|4.05%|\n|Rate of compensation increase|N/A|N/A|N/A|2.58%|2.37%|2.36%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.44%|1.31%|1.29%|N/A|N/A|N/A|\n|Health care cost trend rate assumed for next year||||||||\n|Initial rate (weighted-average)|||||||6.25%|6.50%|6.75%|\n|Year ultimate rate is reached|||||||2024|2024|2024|\n|Ultimate rate|||||||5.00%|5.00%|5.00%|\n", + "Discount Rates \u2013 At December 31, 2018, 2017 and 2016, we determined our discount rates for our domestic pension plan, foreign pension plans and domestic postretirement benefit plan based on either a bond selection/settlement approach or bond yield curve approach.", + "Using the bond selection/settlement approach, we determine the discount rate by selecting a portfolio of corporate bonds appropriate to provide for the projected benefit payments.", + "Using the bond yield curve approach, we determine the discount rate by matching the plans\u2019 cash flows to spot rates developed from a yield curve.", + "Both approaches utilize high-quality AA-rated corporate bonds and the plans\u2019 projected cash flows to develop a discounted value of the benefit payments, which is then used to develop a single discount rate.", + "In countries where markets for high-quality long-term AA corporate bonds are not well developed, a portfolio of long-term government bonds is used as a basis to develop hypothetical corporate bond yields, which serve as a basis to derive the discount rate.", + "Expected Return on Assets \u2013 Our expected rate of return is determined at the beginning of each year and considers asset class index returns over various market and economic conditions, current and expected market conditions, risk premiums associated with asset classes and long-term inflation rates.", + "We determine both a short-term and long-term view and then select a long-term rate of return assumption that matches the duration of our liabilities.", + "Fair Value of Pension Plan Assets The following table presents the fair value of our domestic and foreign pension plan assets as of December 31, 2018 and 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.", + "See Note 12 for a description of the fair value hierarch", + "||December 31, 2018|December 31, 2017|\n|Plan assets subject to fair value hierarchy|Level 1|Level 2|Level 3|Total|Level 1|Level 2|Level 3|Total|\n|Registered investment companies|$13.0|$0.0|$0.0|$13.0|$14.7|$0.0|$0.0|$14.7|\n|Limited partnerships|0.0|0.0|25.6|25.6|0.0|0.0|29.5|29.5|\n|Fixed income securities|23.1|0.0|0.0|23.1|23.4|0.0|0.0|23.4|\n|Insurance contracts|0.0|5.8|0.0|5.8|0.0|7.9|0.0|7.9|\n|Other|20.0|0.0|0.0|20.0|27.7|0.0|0.0|27.7|\n|Total plan assets, subject to leveling|$56.1|$5.8|$25.6|$87.5|$65.8|$7.9|$29.5|$103.2|\n|Plan assets measured at net asset value|||||||||\n|Other investments measured at net asset value1||||366.2||||399.8|\n|Total plan assets||||$453.7||||$503.0|\n", + "1 Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy but are included to reconcile to the amounts presented in the fair value of plan assets table above" + ], + "question_id": "simplong-test-232", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in revenue related technology and risk management from 2015 to 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||December 31,|\n|(in millions)|2017|2016|2015|2014|2013|\n|Balance sheet data:||||||\n|Cash and cash equivalents|$6,894|$6,091|$6,083|$5,723|$4,390|\n|Goodwill and intangible assets, net|30,609|30,481|30,495|30,305|30,481|\n|Total assets-1|220,217|220,177|225,261|239,792|219,859|\n|Less:||||||\n|Separate account assets-2|149,937|149,089|150,851|161,287|155,113|\n|Collateral held under securities lending agreements-2|24,190|27,792|31,336|33,654|21,788|\n|Consolidated investment vehicles-3|580|375|678|3,787|2,714|\n|Adjusted total assets|$45,510|$42,921|$42,396|$41,064|$40,244|\n|Borrowings|5,014|4,915|4,930|4,922|4,925|\n|Total BlackRock, Inc. stockholders\u2019 equity|$31,825|$29,098|$28,503|$27,366|$26,460|\n|Assets under management:||||||\n|Equity:||||||\n|Active|$311,209|$275,033|$281,319|$292,802|$317,262|\n|iSharesETFs|1,329,610|951,252|823,156|790,067|718,135|\n|Non-ETF index|1,730,822|1,430,891|1,319,297|1,368,242|1,282,298|\n|Equity subtotal|3,371,641|2,657,176|2,423,772|2,451,111|2,317,695|\n|Fixed income:||||||\n|Active|815,135|749,996|719,653|701,324|652,209|\n|iSharesETFs|395,252|314,707|254,190|217,671|178,835|\n|Non-ETF index|645,078|507,662|448,525|474,658|411,142|\n|Fixed income subtotal|1,855,465|1,572,365|1,422,368|1,393,653|1,242,186|\n|Multi-asset|480,278|395,007|376,336|377,837|341,214|\n|Alternatives:||||||\n|Core|98,533|88,630|92,085|88,006|85,026|\n|Currency and commodities-4|30,814|28,308|20,754|23,234|26,088|\n|Alternatives subtotal|129,347|116,938|112,839|111,240|111,114|\n|Long-term|5,836,731|4,741,486|4,335,315|4,333,841|4,012,209|\n|Cash management|449,949|403,584|299,884|296,353|275,554|\n|Advisory-5|1,515|2,782|10,213|21,701|36,325|\n|Total|$6,288,195|$5,147,852|$4,645,412|$4,651,895|$4,324,088|\n", + "(1) Includes separate account assets that are segregated funds held for purposes of funding individual and group pension contracts and collateral held under securities lending agreements related to these assets that have equal and offsetting amounts recorded in liabilities and ultimately do not impact BlackRock\u2019s stockholders\u2019 equity or cash flows.", + "(2) Equal and offsetting amounts, related to separate account assets and collateral held under securities lending agreements, are recorded in liabilities.", + "(3) Amounts include assets held by consolidated sponsored investment products.", + "During 2015, the Company adopted new accounting guidance on consolidations effective January 1, 2015 using the modified retrospective method.", + "As a result of the adoption, the Company\u2019s balance sheet at December 31, 2015 reflects the deconsolidation of the Company\u2019s previously consolidated collateralized loan obligations.", + "(4) Amounts include commodity iShares ETFs.", + "(5) Advisory AUM represents long-term portfolio liquidation assignments.", + "||GAAP|As adjusted|\n|(in millions)|2017|2016|2015|2017|2016|2015|\n|Operating income-1|$5,272|$4,570|$4,664|$5,287|$4,674|$4,695|\n|Total nonoperating income (expense)(1)(2)|-32|-108|-69|-32|-108|-70|\n|Income before income taxes-2|$5,240|$4,462|$4,595|$5,255|$4,566|$4,625|\n|Income tax expense-3|$270|$1,290|$1,250|$1,539|$1,352|$1,312|\n|Effective tax rate-3|5.2%|28.9%|27.2%|29.3%|29.6%|28.4%|\n", + "(1) See Non-GAAP Financial Measures for further information on and reconciliation of as adjusted items.", + "(2) Net of net income (loss) attributable to NCI.", + "(3) GAAP income tax expense and effective tax rate for 2017 reflects $1.2 billion of a net tax benefit related to the 2017 Tax Act.", + "The Company\u2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions, which the Company expects to be fairly consistent in the near term.", + "The significant foreign jurisdictions that have lower statutory tax rates than the U. S. federal statutory rate of 35% include the United Kingdom, Channel Islands, Ireland and Netherlands.2017.", + "Income tax expense (GAAP) reflected: ?", + "the following amounts related to the 2017 Tax Act: ?", + "$106 million tax expense related to the revaluation of certain deferred income tax assets; ?", + "$1,758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities; and ?", + "$477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits. ?", + "a noncash expense of $16 million, primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes; and ?", + "$173 million discrete tax benefits, primarily related to stock-based compensation awards, including $151 million related to the adoption of new accounting guidance related to stock-based compensation awards.", + "See Note 2, Significant Accounting Policies, for further information.", + "The as adjusted effective tax rate of 29.3% for 2017 excluded the noncash deferred tax revaluation benefit of $1,758 million and noncash expense of $16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.", + "In addition, the deemed repatriation tax expense of $477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented.2016.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $30 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $65 million of nonrecurring items, including the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 29.6% for 2016 excluded the net noncash benefit of $30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.2015.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $54 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $75 million of nonrecurring items, primarily due to the realization of losses from changes in the Company\u2019s organizational tax structure and the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 28.4% for 2015 excluded the net noncash benefit of $54 million mentioned above, as it will not have a cash flow impact and to ensure comparability among periods presented.", + "BALANCE SHEET OVERVIEW As Adjusted Balance Sheet The following table presents a reconciliation of the consolidated statement of financial condition presented on a GAAP basis to the consolidated statement of financial condition, excluding the impact of separate account assets and separate account collateral held under securities lending agreements (directly related to lending separate account securities) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds, including consolidated VIEs.", + "The Company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders\u2019 equity or cash flows.", + "Management views the as adjusted balance sheet, which contains non-GAAP financial measures, as an economic presentation of the Company\u2019s total assets and liabilities; however, it does not advocate that investors consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.", + "Separate Account Assets and Liabilities and Separate Account Collateral Held under Securities Lending Agreements Separate account assets are maintained by BlackRock Life Limited, a wholly owned subsidiary of the Company that is a registered life insurance company in the United Kingdom, and represent segregated assets held for purposes of funding individual and group pension contracts.", + "The", + "when the likelihood of clawback is considered mathematically improbable.", + "The Company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria.", + "At December 31, 2017 and 2016, the Company had $219 million and $152 million, respectively, of deferred carried interest recorded in other liabilities/other liabilities of consolidated VIEs on the consolidated statements of financial condition.", + "A portion of the deferred carried interest liability will be paid to certain employees.", + "The ultimate timing of the recognition of performance fee revenue, if any, for these products is unknown.", + "The following table presents changes in the deferred carried interest liability (including the portion related to consolidated VIEs) for 2017 and 2016:", + "|(in millions)|2017|2016|\n|Beginning balance|$152|$143|\n|Net increase (decrease) in unrealized allocations|75|37|\n|Performance fee revenue recognized|-21|-28|\n|Acquisition|13|\u2014|\n|Ending balance|$219|$152|\n", + "For 2017, 2016 and 2015, performance fee revenue (which included recognized carried interest) totaled $594 million, $295 million and $621 million, respectively.", + "Fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the Aladdin platform or on a fixed-rate basis.", + "For 2017, 2016 and 2016, technology and risk management revenue totaled $677 million, $595 million and $528 million, respectively.", + "Adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of BlackRock\u2019s investment advisory and administration revenue is calculated based on AUM and since the Company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable.", + "Accounting Developments Recent Accounting Pronouncements Not Yet Adopted.", + "Revenue from Contracts with Customers.", + "In May 2014, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Accounting Standards Update (\u201cASU\u201d) 2014-09, Revenue from Contracts with Customers (\u201cASU 2014-09\u201d).", + "ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance.", + "The guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements.", + "The key changes in the standard that impact the Company\u2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs.", + "The most significant of these changes relates to the presentation of certain distribution costs, which are currently presented net against revenues (contra-revenue) and will be presented as an expense on a gross basis.", + "The Company adopted ASU 2014-09 effective January 1, 2018 on a full retrospective basis, which will require 2016 and 2017 to be restated in future filings.", + "The cumulative effect adjustment to the 2016 opening retained earnings was not material.", + "The Company currently expects the net gross up to revenue to be approximately $1 billion with a corresponding gross up to expense for both 2016 and 2017.", + "Consequently, the Company expects its GAAP operating margin to decline upon adoption due to the gross up of revenue.", + "However, no material impact is expected on the Company\u2019s as adjusted operating margin.", + "For accounting pronouncements that the Company adopted during the year ended December 31, 2017 and for additional recent accounting pronouncements not yet adopted, see Note 2, Significant Accounting Policies, in the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Item 7a.", + "Quantitative and Qualitative Disclosures about Market Risk AUM Market Price Risk.", + "BlackRock\u2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of AUM and, in some cases, performance fees expressed as a percentage of the returns realized on AUM.", + "At December 31, 2017, the majority of the Company\u2019s investment advisory and administration fees were based on average or period end AUM of the applicable investment funds or separate accounts.", + "Movements in equity market prices, interest rates/credit spreads, foreign exchange rates or all three could cause the value of AUM to decline, which would result in lower investment advisory and administration fees.", + "Corporate Investments Portfolio Risks.", + "As a leading investment management firm, BlackRock devotes significant resources across all of its operations to identifying, measuring, monitoring, managing and analyzing market and operating risks, including the management and oversight of its own investment portfolio.", + "The Board of Directors of the Company has adopted guidelines for the review of investments to be made by the Company, requiring, among other things, that investments be reviewed by certain senior officers of the Company, and that certain investments may be referred to the Audit Committee or the Board of Directors, depending on the circumstances, for approval.", + "In the normal course of its business, BlackRock is exposed to equity market price risk, interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments.", + "BlackRock has investments primarily in sponsored investment products that invest in a variety of asset classes, including real assets, private equity and hedge funds.", + "Investments generally are made for co-investment purposes, to establish a performance track record, to hedge exposure to certain deferred compensation plans or for regulatory purposes.", + "Currently, the Company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments.", + "At December 31, 2017, the Company had outstanding total return swaps with an aggregate notional value of approximately $587 million.", + "At December 31, 2017, there were no outstanding interest rate swaps.", + "There are significant costs associated with the Recall Transaction.", + "We currently estimate total operating and capital expenditures associated with the Recall Transaction to be approximately $380.0 million, the majority of which is expected to be incurred by the end of 2018.", + "This amount consists of approximately $80.0 million of Recall Deal Close Costs and approximately $300.0 million of Recall Integration Costs.", + "Of these amounts, approximately $47.1 million was incurred through December 31, 2015 ($24.7 million of Recall Deal Close Costs and $22.4 million of Recall Integration Costs), including approximately $47.0 million of operating expenditures and approximately $0.1 million of capital expenditures.", + "Additionally, upon closing of the Recall Transaction we will incur costs associated with (i) the cash components of the purchase price noted above and (ii) the payoff of outstanding borrowings under Recall\u2019s existing revolving credit facility.", + "We expect the total cost to close the Recall Transaction (including Recall Deal Close Costs, the cash components of the purchase price and the payoff of Recall\u2019s revolving credit facility, but excluding Recall Integration Costs) to be approximately $1,100.0 million.", + "We intend to fund these costs through a combination of cash on hand, borrowings under our Revolving Credit Facility and, as necessary, public or private debt financing.", + "Contractual Obligations The following table summarizes our contractual obligations as of December 31, 2015 and the anticipated effect of these obligations on our liquidity in future years (in thousands):" + ], + "question_id": "simplong-test-233", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what percentage of total debt maturity occurred in 2018 and thereafter?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Canadian dollars.", + "The remainder of the increase in North America Onshore LOE is primarily due to increased costs related to our Jackfish operation in Canada.", + "U. S. Offshore LOE decreased primarily due to property divestitures in the second quarter of 2010.", + "The increase due to exchange rates was also the main contributor to the changes in North America Onshore and total LOE per Boe.2009 vs. 2008 LOE decreased $181 million in 2009.", + "LOE dropped $182 million due to declining costs for fuel, materials, equipment and personnel, as well as declines in maintenance and well workover projects.", + "Such declines largely resulted from decreasing demand for field services due to lower oil and gas prices.", + "Changes in the exchange rate between the U. S. and Canadian dollar reduced LOE $49 million.", + "Additionally, LOE decreased $31 million as a result of hurricane damages in 2008 to certain of our U. S. Offshore facilities and transportation systems.", + "These factors, excluding the hurricane damage, were also the main contributors to the decrease in LOE per Boe on our North America Onshore properties.", + "Production growth at our large-scale Jackfish project also contributed to a decrease in LOE per Boe.", + "As Jackfish production approached the facility\u2019s capacity during 2009, its per-unit costs declined, contributing to lower overall LOE per Boe.", + "The remainder of our four percent company-wide production growth added $81 million to LOE during 2009.", + "Taxes Other Than Income Taxes Taxes other than income taxes consist primarily of production taxes and ad valorem taxes assessed by various government agencies on our U. S. Onshore properties.", + "Production taxes are based on a percentage of production revenues that varies by property and government jurisdiction.", + "Ad valorem taxes generally are based on property values as determined by the government agency assessing the tax.", + "The following table details the changes in our taxes other than income taxes.", + "|| Year Ended December 31,|\n|| 2010| 2010 vs 2009-1| 2009| 2009 vs 2008-1| 2008|\n|| ($ in millions)|\n|Production|$210|+59%|$132|\u221257%|$306|\n|Ad valorem|165|\u22126%|175|+8%|162|\n|Other|5|\u221230%|7|\u22124%|8|\n|Total|$380|+21%|$314|\u221234%|$476|\n", + "(1) All percentage changes included in this table are based on actual figures and not the rounded figures included in this table.2010 vs. 2009 Production taxes increased $78 million in 2010.", + "This increase was largely due to higher U. S. Onshore revenues, as well as a decrease in production tax credits associated with certain properties in the state of Texas.", + "Ad valorem taxes decreased $10 million primarily due to lower assessed values of our U. S. Onshore oil and gas property and equipment.2009 vs. 2008 Production taxes decreased $174 million in 2009.", + "This decrease was largely due to lower U. S. Onshore revenues, as well as an increase in production tax credits associated with certain properties in the state of Texas.", + "Ad valorem taxes increased $13 million primarily due to higher assessed oil and gas property and equipment values.", + "Depreciation, Depletion and Amortization of Oil and Gas Properties (\u201cDD&A\u201d) DD&A of oil and gas properties is calculated by multiplying the percentage of total proved reserve volumes produced during the year, by the \u201cdepletable base.", + "\u201d The depletable base represents our capitalized investment, net of accumulated DD&A and reductions of carrying value, plus future development costs related to proved undeveloped reserves.", + "Generally, when reserve volumes are revised up or down, then the DD&A rate per unit of production will change inversely.", + "However, when the depletable base changes, then the DD&A rate moves in the same direction.", + "The per unit DD&A rate is not affected by production volumes.", + "Absolute or total DD&A, as opposed to the rate per unit of production, generally moves in the same direction as production volumes.", + "Oil and gas property DD&A is calculated separately on a country-by-country basis.", + "|| Year Ended December 31,|\n|| 2012-1| Change| 2011-1| Change| 2010-1|\n| Oil (per Bbl)||||||\n|U.S. Onshore|$88.68|-3%|$91.19|+21%|$75.53|\n|Canada|$68.08|-8%|$74.32|+20%|$62.00|\n|North America Onshore|$80.35|-3%|$83.16|+22%|$68.17|\n|U.S. Offshore|$\u2014|N/M|$\u2014|-100%|$77.81|\n|Total|$80.35|-3%|$83.16|+21%|$68.75|\n| Bitumen (per Bbl)||||||\n|Canada|$47.75|-18%|$58.16|+11%|$52.51|\n| Gas (per Mcf)||||||\n|U.S. Onshore|$2.32|-34%|$3.50|-6%|$3.73|\n|Canada|$2.49|-36%|$3.87|-6%|$4.11|\n|North America Onshore|$2.36|-34%|$3.58|-6%|$3.82|\n|U.S. Offshore|$\u2014|N/M|$\u2014|-100%|$5.12|\n|Total|$2.36|-34%|$3.58|-7%|$3.84|\n| NGLs (per Bbl)||||||\n|U.S. Onshore|$28.49|-28%|$39.47|+28%|$30.78|\n|Canada|$48.63|-13%|$55.99|+20%|$46.60|\n|North America Onshore|$30.42|-26%|$41.10|+26%|$32.55|\n|U.S. Offshore|$\u2014|N/M|$\u2014|-100%|$38.22|\n|Total|$30.42|-26%|$41.10|+26%|$32.61|\n| Combined (per Boe)||||||\n|U.S. Onshore|$25.59|-18%|$31.31|+10%|$28.42|\n|Canada|$37.01|-14%|$43.23|+11%|$39.11|\n|North America Onshore|$28.65|-17%|$34.64|+10%|$31.52|\n|U.S. Offshore|$\u2014|N/M|$\u2014|-100%|$49.06|\n|Total|$28.65|-17%|$34.64|+9%|$31.91|\n", + "(1) Prices presented exclude any effects due to oil, gas and NGL derivatives.", + "Commodity Sales The volume and price changes in the tables above caused the following changes to our oil, gas and NGL sales.", + "||Oil|Bitumen|Gas|NGLs|Total|\n||(In millions)|\n|2010 sales|$2,169|$474|$3,572|$1,047|$7,262|\n|Change due to volumes|30|193|88|147|458|\n|Change due to prices|461|72|-249|311|595|\n|2011 sales|2,660|739|3,411|1,505|8,315|\n|Change due to volumes|337|273|-52|137|695|\n|Change due to prices|-101|-181|-1,148|-427|-1,857|\n|2012 sales|$2,896|$831|$2,211|$1,215|$7,153|\n", + "Volumes 2012 vs. 2011 \u2013 Upstream sales increased $695 million due to a 4 percent increase in production.", + "Oil and bitumen production were the largest drivers of the increase, accounting for nearly 90 percent of the higher sales.", + "As a result of continued development of our liquids-rich properties in the Permian Basin, our oil sales increased $337 million.", + "Bitumen sales increased $273 million due to development of our Jackfish thermal heavy oil projects in Canada.", + "Additionally, our NGL sales increased $137 million as a result of continued drilling in the liquids-rich gas portions of the Barnett Shale, Cana-Woodford Shale and Granite Wash.", + "These increases were partially offset by a slight decrease in our 2012 gas production, resulting in a $52 million decline in sales.", + "DEVON ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) Debt maturities as of December 31, 2012, excluding premiums and discounts, are as follows (in millions):", + "|2013|$3,189|\n|2014|500|\n|2015|\u2014|\n|2016|500|\n|2017|750|\n|2018 and thereafter|6,725|\n|Total|$11,664|\n", + "Credit Lines Devon has a $3.0 billion syndicated, unsecured revolving line of credit (the \u201cSenior Credit Facility\u201d).", + "The Senior Credit Facility has an initial maturity date of October 24, 2017.", + "However, prior to the maturity date, Devon has the option to extend the maturity for up to two additional one-year periods, subject to the approval of the lenders.", + "Amounts borrowed under the Senior Credit Facility may, at the election of Devon, bear interest at various fixed rate options for periods of up to twelve months.", + "Such rates are generally less than the prime rate.", + "However, Devon may elect to borrow at the prime rate.", + "The Senior Credit Facility currently provides for an annual facility fee of $3.8 million that is payable quarterly in arrears.", + "As of December 31, 2012, there were no borrowings under the Senior Credit Facility.", + "The Senior Credit Facility contains only one material financial covenant.", + "This covenant requires Devon\u2019s ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65 percent.", + "The credit agreement contains definitions of total funded debt and total capitalization that include adjustments to the respective amounts reported in the accompanying financial statements.", + "Also, total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments.", + "As of December 31, 2012, Devon was in compliance with this covenant with a debt-to\u0002capitalization ratio of 25.4 percent.", + "Commercial Paper Devon has access to $5.0 billion of short-term credit under its commercial paper program.", + "Commercial paper debt generally has a maturity of between 1 and 90 days, although it can have a maturity of up to 365 days, and bears interest at rates agreed to at the time of the borrowing.", + "The interest rate is generally based on a standard index such as the Federal Funds Rate, LIBOR, or the money market rate as found in the commercial paper market.", + "As of December 31, 2012, Devon\u2019s weighted average borrowing rate on its commercial paper borrowings was 0.37 percent.", + "Other Debentures and Notes Following are descriptions of the various other debentures and notes outstanding at December 31, 2012, as listed in the table presented at the beginning of this note.", + "borrowings outstanding at the end of 2018 and 2017 represent borrowings made under, or supported by, these lines of credit.", + "Borrowings under the lines of credit were made by certain international affiliates of the Company on terms and at interest rates generally extended to companies of comparable creditworthiness in those markets.", + "The weighted average interest rates of the outstanding borrowings under the uncommitted lines of credit as of December 30, 2018 and December 31, 2017 were 3.92% and 4.32%, respectively.", + "The Company had no borrowings outstanding under its committed line of credit at December 30, 2018.", + "During 2018, Hasbro\u2019s working capital needs were fulfilled by cash available and cash generated from operations.", + "During the fourth quarter of 2018, the Company entered into an amended and restated revolving credit agreement with the lenders party thereto (the \u201cAmended Agreement\u201d) which provides the Company with a $1,100,000 committed borrowing facility.", + "The Amended Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness.", + "The Amended Agreement also provides for a potential additional incremental commitment increase of up to $500,000.", + "The Amended Agreement extends the term of our prior facility from March 30, 2020 to November 26, 2023.", + "The Amended Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness.", + "The Company was in compliance with all covenants as of and for the fiscal year ended December 30, 2018.", + "The Company pays a commitment fee (0.10% as of December 30, 2018) based on the unused portion of the facility and interest equal to a Base Rate or Eurocurrency Rate plus a spread on borrowings under the facility.", + "The Base Rate is determined based on either the Federal Funds Rate plus a spread, Prime Rate or Eurocurrency Rate plus a spread.", + "The commitment fee and the amount of the spread to the Base Rate or Eurocurrency Rate both vary based on the Company\u2019s long-term debt ratings and the Company\u2019s leverage.", + "At December 30, 2018, the interest rate under the facility was equal to Eurocurrency Rate plus 1.125%.", + "The Company has an agreement with a group of banks providing a commercial paper program (the \u201cProgram\u201d).", + "Under the Program, at the Company\u2019s request the banks may either purchase from the Company, or arrange for the sale by the Company of, unsecured commercial paper notes.", + "Borrowings under the Program are supported by the aforementioned unsecured committed line of credit and the Company may issue notes from time to time up to an aggregate principal amount outstanding at any given time of $1,000,000.", + "The maturities of the notes may vary but may not exceed 397 days.", + "Subject to market conditions, the notes will be sold under customary terms in the commercial paper market and will be issued at a discount to par, or alternatively, will be sold at par and will bear varying interest rates based on a fixed or floating rate basis.", + "The interest rates will vary based on market conditions and the ratings assigned to the notes by the credit rating agencies at the time of issuance.", + "At December 30, 2018, the Company did not have any notes outstanding under the Program.", + "At December 31, 2017, the Company had notes outstanding under the Program of $137,500 with a weighted average interest rate of 1.85%.", + "(9) Accrued Liabilities Components of accrued liabilities for the fiscal years ended on December 30, 2018 and December 31, 2017 are as follows:" + ], + "question_id": "simplong-test-234", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Interest in table 2, what's the increasing rate of Operating leases in table 2?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Long-term product offerings include alpha-seeking active and index strategies.", + "Our alpha-seeking active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile, and leverage fundamental research and 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.", + "Although many clients use both alpha-seeking 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, or may use a combination of index strategies to target active returns.", + "In addition, institutional non-ETF index assignments tend to be very large (multi-billion dollars) and typically reflect low fee rates.", + "Net flows in institutional index products generally have a small impact on BlackRock\u2019s revenues and earnings.", + "Equity Year-end 2017 equity AUM totaled $3.372 trillion, reflecting net inflows of $130.1 billion.", + "Net inflows included $174.4 billion into iShares ETFs, driven by net inflows into Core funds and broad developed and emerging market equities, partially offset by non-ETF index and active net outflows of $25.7 billion and $18.5 billion, respectively.", + "BlackRock\u2019s effective fee rates fluctuate due to changes in AUM mix.", + "Approximately half of BlackRock\u2019s equity AUM is tied to international markets, including emerging markets, which tend to have higher fee rates than U. S. equity strategies.", + "Accordingly, fluctuations in international equity markets, which may not consistently move in tandem with U. S. markets, have a greater impact on BlackRock\u2019s equity revenues and effective fee rate.", + "Fixed Income Fixed income AUM ended 2017 at $1.855 trillion, reflecting net inflows of $178.8 billion.", + "In 2017, active net inflows of $21.5 billion were diversified across fixed income offerings, and included strong inflows into municipal, unconstrained and total return bond funds.", + "iShares ETFs net inflows of $67.5 billion were led by flows into Core, corporate and treasury bond funds.", + "Non-ETF index net inflows of $89.8 billion were driven by demand for liability-driven investment solutions.", + "Multi-Asset BlackRock\u2019s multi-asset team manages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities, bonds, currencies 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 AUM for 2017 are presented below.", + "|(in millions)|December 31,2016|Net inflows (outflows)|Marketchange|FXimpact|December 31,2017|\n|Asset allocation and balanced|$176,675|$-2,502|$17,387|$4,985|$196,545|\n|Target date/risk|149,432|23,925|24,532|1,577|199,466|\n|Fiduciary|68,395|-1,047|7,522|8,819|83,689|\n|FutureAdvisor-1|505|-46|119|\u2014|578|\n|Total|$395,007|$20,330|$49,560|$15,381|$480,278|\n", + "(1) FutureAdvisor amounts do not include AUM held in iShares ETFs.", + "Multi-asset net inflows reflected ongoing institutional demand for our solutions-based advice with $18.9 billion of net inflows coming from institutional clients.", + "Defined contribution plans of institutional clients remained a significant driver of flows, and contributed $20.8 billion to institutional multi-asset net inflows in 2017, primarily into target date and target risk product offerings.", + "Retail net inflows of $1.1 billion reflected demand for our Multi-Asset Income fund family, which raised $5.8 billion in 2017.", + "The Company\u2019s multi-asset strategies include the following: ?", + "Asset allocation and balanced products represented 41% of multi-asset AUM at year-end.", + "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 and Multi-Asset Income fund families. ?", + "Target date and target risk products grew 16% organically in 2017, with net inflows of $23.9 billion.", + "Institutional investors represented 93% of target date and target risk AUM, with defined contribution plans accounting for 87% of AUM.", + "Flows were driven by defined contribution investments in our LifePath offerings.", + "LifePath products utilize a proprietary active asset allocation overlay model that seeks to balance risk and return over an investment horizon based on the investor\u2019s expected retirement timing.", + "Underlying investments are primarily index products. ?", + "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 investment management.", + "These customized services require strong partnership with the clients\u2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives.", + "not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at December 31, 2017.", + "The 2017 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities.", + "At December 31, 2017, the Company had no amount outstanding under the 2017 credit facility Commercial Paper Program.", + "The Company can issue unsecured commercial paper notes (the \u201cCP Notes\u201d) on a private-placement basis up to a maximum aggregate amount outstanding at any time of $4.0 billion.", + "The commercial paper program is currently supported by the 2017 credit facility.", + "At December 31, 2017, BlackRock had no CP Notes outstanding Long-Term Borrowings The carrying value of long-term borrowings at December 31, 2017 included the following:", + "|(in millions)|Maturity Amount|Carrying Value|Maturity|\n|5.00% Notes|$1,000|$999|December 2019|\n|4.25% Notes|750|747|May 2021|\n|3.375% Notes|750|746|June 2022|\n|3.50% Notes|1,000|994|March 2024|\n|1.25% Notes-1|841|835|May 2025|\n|3.20% Notes|700|693|March 2027|\n|Total Long-term Borrowings|$5,041|$5,014||\n", + "(1) The carrying value of the 1.25% Notes estimated using foreign exchange rate as of December 31, 2017.", + "For more information on Company\u2019s borrowings, see Note 12, Borrowings, in the notes to the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Contractual Obligations, Commitments and Contingencies The following table sets forth contractual obligations, commitments and contingencies by year of payment at December 31, 2017:", + "|(in millions)|2018|2019|2020|2021|2022|Thereafter-1|Total|\n|Contractual obligations and commitments-1:||||||||\n|Long-term borrowings-2:||||||||\n|Principal|$\u2014|$1,000|$\u2014|$750|$750|$2,541|$5,041|\n|Interest|175|175|125|109|81|185|850|\n|Operating leases|141|132|126|118|109|1,580|2,206|\n|Purchase obligations|128|101|29|22|19|28|327|\n|Investment commitments|298|\u2014|\u2014|\u2014|\u2014|\u2014|298|\n|Total contractual obligations and commitments|742|1,408|280|999|959|4,334|8,722|\n|Contingent obligations:||||||||\n|Contingent payments related to business acquisitions-3|33|179|39|34|\u2014|\u2014|285|\n|Total contractual obligations, commitments andcontingent obligations-4|$775|$1,587|$319|$1,033|$959|$4,334|$9,007|\n", + "(1) Amounts do not include $350 million of cash payment consideration and contingent consideration related to the Company\u2019s agreement to acquire the asset management business of Citibanamex.", + "(2) The amount of principal and interest payments for the 2025 Notes (issued in Euros) represents the expected payment amounts using foreign exchange rates as of December 31, 2017.", + "(3) The amount of contingent payments reflected for any year represents the expected payments using foreign currency exchange rates as of December 31, 2017.", + "The fair value of the remaining aggregate contingent payments at December 31, 2017 totaled $236 million and is included in other liabilities on the consolidated statements of financial condition.", + "(4) At December 31, 2017, the Company had approximately $365 million of net unrecognized tax benefits.", + "Due to the uncertainty of timing and amounts that will ultimately be paid, this amount has been excluded from the table above.", + "Operating Leases.", + "The Company leases its primary office locations under agreements that expire on varying dates through 2043.", + "In connection with certain lease agreements, the Company is responsible for escalation payments.", + "The contractual obligations table above includes only guaranteed minimum lease payments for such leases and does not project potential escalation or other lease-related payments.", + "These leases are classified as operating leases and, as such, are not recorded as liabilities on the consolidated statements of financial condition.", + "In May 2017, the Company entered into an agreement with 50 HYMC Owner LLC, for the lease of approximately 847,000 square feet of office space located at 50 Hudson Yards, New York, New York.", + "The term of the lease is twenty years from the date that rental payments begin, expected to occur in", + "McKESSON CORPORATION FINANCIAL REVIEW (Continued) 46 In July 2008, the Board authorized the retirement of shares of the Company\u2019s common stock that may be repurchased from time-to-time pursuant to its stock repurchase program.", + "During the second quarter of 2009, all of the 4 million repurchased shares, which we purchased for $204 million, were formally retired by the Company.", + "The retired shares constitute authorized but unissued shares.", + "We elected to allocate any excess of share repurchase price over par value between additional paid-in capital and retained earnings.", + "As such, $165 million was recorded as a decrease to retained earnings.", + "The Company anticipates that it will continue to pay quarterly cash dividends in the future.", + "However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company\u2019s future earnings, financial condition, capital requirements and other factors.", + "Although we believe that our operating cash flow, financial assets, current access to capital and credit markets, including our existing credit and sales facilities, will give us the ability to meet our financing needs for the foreseeable future, there can be no assurance that continued or increased volatility and disruption in the global capital and credit markets will not impair our liquidity or increase our costs of borrowing.", + "Selected Measures of Liquidity and Capital Resources:" + ], + "question_id": "simplong-test-235", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Annual in the years with the least As of January 1 for Number of Awards", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "damages to natural resources allegedly caused by the discharge of hazardous substances from two former waste disposal sites in New Jersey.", + "During the fourth quarter, the Company negotiated a settlement of New Jersey\u2019s claims.", + "Under the terms of the settlement, the company will transfer to the State of New Jersey 150 acres of undeveloped land with groundwater recharge potential, which the Company acquired for purposes of the settlement, and will pay the state\u2019s attorneys\u2019 fees.", + "Notice of the settlement was published for public comment in December 2007, and no objections were received.", + "As a result, the Company and the State of New Jersey have signed the formal settlement agreement pursuant to which the Company will transfer title to the property and will be dismissed from the lawsuit, which will continue against the codefendants.", + "Accrued Liabilities and Insurance Receivables Related to Legal Proceedings The Company complies with the requirements of Statement of Financial Accounting Standards No.5, \u201cAccounting for Contingencies,\u201d and related guidance, and records liabilities for legal proceedings in those instances where it can reasonably estimate the amount of the loss and where liability is probable.", + "Where the reasonable estimate of the probable loss is a range, the Company records the most likely estimate of the loss, or the low end of the range if there is no one best estimate.", + "The Company either discloses the amount of a possible loss or range of loss in excess of established reserves if estimable, or states that such an estimate cannot be made.", + "For those insured matters where the Company has taken a reserve, the Company also records receivables for the amount of insurance that it expects to recover under the Company\u2019s insurance program.", + "For those insured matters where the Company has not taken a reserve because the liability is not probable or the amount of the liability is not estimable, or both, but where the Company has incurred an expense in defending itself, the Company records receivables for the amount of insurance that it expects to recover for the expense incurred.", + "The Company discloses significant legal proceedings even where liability is not probable or the amount of the liability is not estimable, or both, if the Company believes there is at least a reasonable possibility that a loss may be incurred.", + "Because litigation is subject to inherent uncertainties, and unfavorable rulings or developments could occur, there can be no certainty that the Company may not ultimately incur charges in excess of presently recorded liabilities.", + "A future adverse ruling, settlement, or unfavorable development could result in future charges that could have a material adverse effect on the Company\u2019s results of operations or cash flows in the period in which they are recorded.", + "The Company currently believes that such future charges, if any, would not have a material adverse effect on the consolidated financial position of the Company, taking into account its significant available insurance coverage.", + "Based on experience and developments, the Company periodically reexamines its estimates of probable liabilities and associated expenses and receivables, and whether it is able to estimate a liability previously determined to be not estimable and/or not probable.", + "Where appropriate, the Company makes additions to or adjustments of its estimated liabilities.", + "As a result, the current estimates of the potential impact on the Company\u2019s consolidated financial position, results of operations and cash flows for the legal proceedings and claims pending against the Company could change in the future.", + "The Company estimates insurance receivables based on an analysis of its numerous policies, including their exclusions, pertinent case law interpreting comparable policies, its experience with similar claims, and assessment of the nature of the claim, and records an amount it has concluded is likely to be recovered.", + "The following table shows the major categories of on-going litigation, environmental remediation and other environmental liabilities for which the Company has been able to estimate its probable liability and for which the Company has taken reserves and the related insurance receivables:", + "|At December 31 (Millions)|2007|2006|2005|\n|Breast implant liabilities|$1|$4|$7|\n|Breast implant receivables|64|93|130|\n|Respirator mask/asbestos liabilities|121|181|210|\n|Respirator mask/asbestos receivables|332|380|447|\n|Environmental remediation liabilities|37|44|30|\n|Environmental remediation receivables|15|15|15|\n|Other environmental liabilities|147|14|8|\n", + "For those significant pending legal proceedings that do not appear in the table and that are not the subject of pending settlement agreements, the Company has determined that liability is not probable or the amount of the liability is not estimable, or both, and the Company is unable to estimate the possible loss or range of loss at this time.", + "The amounts in the preceding table with respect to breast implant and environmental remediation represent the Company\u2019s best estimate of the respective liabilities.", + "The Company does not believe that there is any single best estimate of the respirator/mask/asbestos liability or the other environmental liabilities shown above, nor that it can reliably estimate the amount or range of amounts by which those liabilities may exceed the reserves the Company has established.", + "one year volatility, the median of the term of the expected life rolling volatility, the median of the most recent term of the expected life volatility of 3M stock, and the implied volatility on the grant date.", + "The expected term assumption is based on the weighted average of historical grants.", + "Restricted Stock and Restricted Stock Units The following table summarizes restricted stock and restricted stock unit activity for the years ended December 31:", + "||2015|2014|2013|\n||Number of Awards|Weighted Average Grant Date Fair Value|Number of Awards|Weighted Average Grant Date Fair Value|Number of Awards|Weighted Average Grant Date Fair Value|\n|Nonvested balance \u2014|||||||\n|As of January 1|2,817,786|$104.41|3,105,361|$92.31|3,261,562|$85.17|\n|Granted|||||||\n|Annual|671,204|165.86|798,615|126.79|946,774|101.57|\n|Other|26,886|156.94|78,252|152.74|44,401|111.19|\n|Vested|-1,010,612|89.99|-1,100,675|90.37|-1,100,095|79.93|\n|Forfeited|-64,176|118.99|-63,767|97.23|-47,281|90.82|\n|As of December 31|2,441,088|$127.47|2,817,786|$104.41|3,105,361|$92.31|\n", + "As of December 31, 2015, there was $84 million of compensation expense that has yet to be recognized related to non\u0002vested restricted stock and restricted stock units.", + "This expense is expected to be recognized over the remaining weighted\u0002average vesting period of 24 months.", + "The total fair value of restricted stock and restricted stock units that vested during the years ended December 31, 2015, 2014 and 2013 was $166 million, $145 million and $114 million, respectively.", + "The Company\u2019s actual tax benefits realized for the tax deductions related to the vesting of restricted stock and restricted stock units for the years ended December 31, 2015, 2014 and 2013 was $62 million, $54 million and $43 million, respectively.", + "Restricted stock units granted under the 3M 2008 Long-Term Incentive Plan generally vest three years following the grant date assuming continued employment.", + "Dividend equivalents equal to the dividends payable on the same number of shares of 3M common stock accrue on these restricted stock units during the vesting period, although no dividend equivalents are paid on any of these restricted stock units that are forfeited prior to the vesting date.", + "Dividends are paid out in cash at the vest date on restricted stock units, except for performance shares which do not earn dividends.", + "Since the rights to dividends are forfeitable, there is no impact on basic earnings per share calculations.", + "Weighted average restricted stock unit shares outstanding are included in the computation of diluted earnings per share.", + "Performance Shares Instead of restricted stock units, the Company makes annual grants of performance shares to members of its executive management.", + "The 2015 performance criteria for these performance shares (organic volume growth, return on invested capital, free cash flow conversion, and earnings per share growth) were selected because the Company believes that they are important drivers of long-term stockholder value.", + "The number of shares of 3M common stock that could actually be delivered at the end of the three-year performance period may be anywhere from 0% to 200% of each performance share granted, depending on the performance of the Company during such performance period.", + "Non-substantive vesting requires that expense for the performance shares be recognized over one or three years depending on when each individual became a 3M executive.", + "Performance shares do not accrue dividends during the performance period.", + "Therefore, the grant date fair value is determined by reducing the closing stock price on the date of grant by the net present value of dividends during the performance period.", + "Pension and Postretirement Obligations: 3M has various company-sponsored retirement plans covering substantially all U. S. employees and many employees outside the United States.", + "The primary U. S. defined-benefit pension plan was closed to new participants effective January 1, 2009.", + "The Company accounts for its defined benefit pension and postretirement health care and life insurance benefit plans in accordance with Accounting Standard Codification (ASC) 715, Compensation \u2014 Retirement Benefits, in measuring plan assets and benefit obligations and in determining the amount of net periodic benefit cost.", + "ASC 715 requires employers to recognize the underfunded or overfunded status of a defined benefit pension or postretirement plan as an asset or liability in its statement of financial position and recognize changes in the funded status in the year in which the changes occur through accumulated other comprehensive income, which is a component of stockholders\u2019 equity.", + "While the company believes the valuation methods used to determine the fair value of plan assets 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 estimate of fair value at the reporting date.", + "See Note 11 for additional discussion of actuarial assumptions used in determining pension and postretirement health care liabilities and expenses.", + "Pension benefits associated with these plans are generally based primarily on each participant\u2019s years of service, compensation, and age at retirement or termination.", + "The benefit obligation represents the present value of the benefits that employees are entitled to in the future for services already rendered as of the measurement date.", + "The Company measures the present value of these future benefits by projecting benefit payment cash flows for each future period and discounting these cash flows back to the December 31 measurement date, using the yields of a portfolio of high quality, fixed-income debt instruments that would produce cash flows sufficient in timing and amount to settle projected future benefits.", + "Historically, the single aggregated discount rate used for each plan\u2019s benefit obligation was also used for the calculation of all net periodic benefit costs, including the measurement of the service and interest costs.", + "Beginning in 2016, 3M changed the method used to estimate the service and interest cost components of the net periodic pension and other postretirement benefit costs.", + "The new method measures service cost and interest cost separately using the spot yield curve approach applied to each corresponding obligation.", + "Service costs are determined based on duration-specific spot rates applied to the service cost cash flows.", + "The interest cost calculation is determined by applying duration-specific spot rates to the year-by-year projected benefit payments.", + "The spot yield curve approach does not affect the measurement of the total benefit obligations as the change in service and interest costs offset in the actuarial gains and losses recorded in other comprehensive income.", + "The Company changed to the new method to provide a more precise measure of service and interest costs by improving the correlation between the projected benefit cash flows and the discrete spot yield curve rates.", + "The Company accounted for this change as a change in estimate prospectively beginning in the first quarter of 2016.", + "As a result of the change to the spot yield curve approach, 2016 defined benefit pension and postretirement net periodic benefit cost is expected to decrease by $180 million.", + "Including this $180 million, 3M expects global defined benefit pension and postretirement expense in 2016 (before settlements, curtailments, special termination benefits and other) to decrease by approximately $320 million pre-tax when compared to 2015.", + "Using this methodology, the Company determined discount rates for its plans as follow:", + "||U.S. Qualified Pension|International Pension (weighted average)|U.S. Postretirement Medical|\n|December 31, 2014 Liability and 2015 Net Periodic Benefit Cost:||||\n|Single discount rate|4.10%|3.11%|4.07%|\n|December 31, 2015 Liability:||||\n|Benefit obligation|4.47%|3.12%|4.32%|\n|2016 Net Periodic Benefit Cost Components:||||\n|Service cost|4.72%|2.84%|4.60%|\n|Interest cost|3.77%|2.72%|3.44%|\n", + "Another significant element in determining the Company\u2019s pension expense in accordance with ASC 715 is the expected return on plan assets, which is based on historical results for similar allocations among asset classes.", + "For the primary U. S. qualified pension plan, the expected long-term rate of return on an annualized basis for 2016 is 7.50%, 0.25% lower than 2015.", + "Refer to Note 11 for information on how the 2015 rate was determined.", + "Return on assets assumptions for" + ], + "question_id": "simplong-test-236", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much of total minimum lease payments ( in millions ) are not due to assets under construction?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Summary of Cost of Net Revenues The following table summarizes changes in cost of net revenues:", + "||Year Ended December 31,|Change from 2008 to 2009|Change from 2009 to 2010|\n||2008|2009|2010|in Dollars|in %|in Dollars|in %|\n||(In thousands, except percentages)|\n|Cost of net revenues:||||||||\n|Marketplaces|$907,121|$968,266|$1,071,499|$61,145|7%|$103,233|11%|\n|As a percentage of total Marketplaces net revenues|16.2%|18.2%|18.7%|||||\n|Payments|1,036,746|1,220,619|1,493,168|183,873|18%|272,549|22%|\n|As a percentage of total Payments net revenues|43.1%|43.7%|43.5%|||||\n|Communications|284,202|290,877|\u2014|6,675|2%|-290,877|\u2014|\n|As a percentage of total Communications net revenues|51.6%|46.9%|\u2014|||||\n|Total cost of net revenues|$2,228,069|$2,479,762|$2,564,667|$251,693|11%|$84,905|3%|\n|As a percentage of net revenues|26.1%|28.4%|28.0%|||||\n", + "Cost of Net Revenues Cost of net revenues consists primarily of costs associated with payment processing, customer support and site operations and Skype telecommunications (through November 2009).", + "Significant components of these costs include bank transaction fees, credit card interchange and assessment fees, interest expense on indebtedness incurred to finance the purchase of consumer loans receivable by Bill Me Later, employee compensation, contractor costs, facilities costs, depreciation of equipment and amortization expense.", + "Marketplaces Marketplaces cost of net revenues increased $103.2 million, or 11%, in 2010 compared to 2009.", + "The increase during 2010 was due primarily to the inclusion of a full year of costs attributable to Gmarket and increased site operation costs.", + "Marketplaces cost of net revenues as a percentage of Marketplaces net revenues increased slightly in 2010 compared to 2009 due primarily to the addition of Gmarket, the settlement of a lawsuit and the establishment of a reserve related to certain indirect tax positions (recorded as a reduction in revenue).", + "Marketplaces cost of net revenues increased $61.1 million, or 7%, in 2009 compared to 2008.", + "The increase during 2009 was due primarily to the inclusion of costs attributable to Gmarket and Den Bl?", + "Avis and BilBasen, partially offset by a decrease in customer support and site operations costs associated with our restructuring activities.", + "Marketplaces cost of net revenues increased as a percentage of Marketplaces net revenues during 2009 compared to 2008 due primarily to the impact of foreign currency movements on revenues, pricing initiatives (which are recorded as a reduction in revenue) and faster growth in our lower margin Marketplaces businesses.", + "Payments Payments cost of net revenues increased $272.5 million, or 22%, in 2010 compared to 2009.", + "The increase in cost of net revenues was primarily due to the impact from our growth in net TPV.", + "Payments cost of net revenues as a percentage of Payments net revenues decreased slightly in 2010 compared to 2009 due primarily to improved leverage of our customer support infrastructure and existing site operations.", + "expect that these credit rating agencies will continue to monitor developments in our planned separation of PayPal, including the capital structure for each company after separation, which could result in additional downgrades.", + "Our borrowing costs depend, in part, on our credit ratings and because downgrades would likely increase our borrowing costs we disclose these ratings to enhance the understanding of the effects of our ratings on our costs of funds.", + "In addition, to assist PayPal in our planned separation we are currently working with credit rating agencies to obtain separate credit ratings for PayPal and we believe that immediately following separation both eBay and PayPal will be rated investment grade.", + "Commitments and Contingencies As of December 31, 2014 , approximately $20.2 billion of unused credit was available to PayPal Credit accountholders.", + "While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit accountholders will access their entire available credit at any given point in time.", + "In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institutions that are the issuer of PayPal Credit products based on, among other things, account usage and customer creditworthiness.", + "When a consumer makes a purchase using a PayPal Credit products, the chartered financial institution extends credit to the consumer, funds the extension of credit at the point of sale and advances funds to the merchant.", + "We subsequently purchase the consumer receivables related to the consumer loans and as result of that purchase, bear the risk of loss in the event of loan defaults.", + "However, we subsequently sell a participation interest in the entire pool of consumer loans to the chartered financial institution that extended the consumer loans.", + "Although the chartered financial institution continues to own the customer accounts, we own and bear the risk of loss on the related consumer receivables, less the participation interest held by the chartered financial institution, and PayPal is responsible for all servicing functions related to the customer account balances.", + "As of December 31, 2014 , the total outstanding principal balance of this pool of consumer loans was $3.7 billion , of which the chartered financial institution owns a participation interest of $163 million , or 4.4% of the total outstanding balance of consumer receivables at that date.", + "We have certain fixed contractual obligations and commitments that include future estimated payments for general operating purposes.", + "Changes in our business needs, contractual cancellation provisions, fluctuating interest rates, and other factors may result in actual payments differing from the estimates.", + "We cannot provide certainty regarding the timing and amounts of these payments.", + "The following table summarizes our fixed contractual obligations and commitments:", + "|Payments Due During the Year Ending December 31,|Debt|Leases|Purchase Obligations|Total|\n||(In millions)|\n|2015|1,026|113|275|1,414|\n|2016|164|96|58|318|\n|2017|1,613|83|55|1,751|\n|2018|148|63|43|254|\n|2019|1,697|42|7|1,746|\n|Thereafter|4,708|52|3|4,763|\n||9,356|449|441|10,246|\n", + "The significant assumptions used in our determination of amounts presented in the above table are as follows: ?", + "Debt amounts include the principal and interest amounts of the respective debt instruments.", + "For additional details related to our debt, please see \u201cNote 10 \u2013 Debt\u201d to the consolidated financial statements included in this report.", + "This table does not reflect any amounts payable under our $3 billion revolving credit facility or $2 billion commercial paper program, for which no borrowings were outstanding as of December 31, 2014 . ?", + "Lease amounts include minimum rental payments under our non-cancelable operating leases for office facilities, fulfillment centers, as well as computer and office equipment that we utilize under lease arrangements.", + "The amounts presented are consistent with contractual terms and are not expected to differ significantly from actual results under our existing leases, unless a substantial change in our headcount needs requires us to expand our occupied space or exit an office facility early.", + "MARATHON OIL CORPORATION Notes to Consolidated Financial Statements equivalent to the Exchangeable Shares at the acquisition date as discussed below.", + "Additional shares of voting preferred stock will be issued as necessary to adjust the number of votes to account for changes in the exchange ratio.", + "Preferred shares \u2013 In connection with the acquisition of Western discussed in Note 6, the Board of Directors authorized a class of voting preferred stock consisting of 6 million shares.", + "Upon completion of the acquisition, we issued 5 million shares of this voting preferred stock to a trustee, who holds the shares for the benefit of the holders of the Exchangeable Shares discussed above.", + "Each share of voting preferred stock is entitled to one vote on all matters submitted to the holders of Marathon common stock.", + "Each holder of Exchangeable Shares may direct the trustee to vote the number of shares of voting preferred stock equal to the number of shares of Marathon common stock issuable upon the exchange of the Exchangeable Shares held by that holder.", + "In no event will the aggregate number of votes entitled to be cast by the trustee with respect to the outstanding shares of voting preferred stock exceed the number of votes entitled to be cast with respect to the outstanding Exchangeable Shares.", + "Except as otherwise provided in our restated certificate of incorporation or by applicable law, the common stock and the voting preferred stock will vote together as a single class in the election of directors of Marathon and on all other matters submitted to a vote of stockholders of Marathon generally.", + "The voting preferred stock will have no other voting rights except as required by law.", + "Other than dividends payable solely in shares of voting preferred stock, no dividend or other distribution, will be paid or payable to the holder of the voting preferred stock.", + "In the event of any liquidation, dissolution or winding up of Marathon, the holder of shares of the voting preferred stock will not be entitled to receive any assets of Marathon available for distribution to its stockholders.", + "The voting preferred stock is not convertible into any other class or series of the capital stock of Marathon or into cash, property or other rights, and may not be redeemed.25.", + "Leases We lease a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.", + "Most long-term leases include renewal options and, in certain leases, purchase options.", + "Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having initial or remaining noncancelable lease terms in excess of one year are as follows:", + "|(In millions)|Capital Lease Obligations (a)|Operating Lease Obligations|\n|2010|$46|$165|\n|2011|45|140|\n|2012|58|121|\n|2013|44|102|\n|2014|44|84|\n|Later years|466|313|\n|Sublease rentals|-|-16|\n|Total minimum lease payments|$703|$909|\n|Less imputed interest costs|-257||\n|Present value of net minimum lease payments|$446||\n", + "(a) Capital lease obligations include $164 million related to assets under construction as of December 31, 2009.", + "These leases are currently reported in long-term debt based on percentage of construction completed at $36 million.", + "In connection with past sales of various plants and operations, we assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.", + "In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, we remain primarily obligated for payments under these leases.", + "Minimum lease payments under these operating lease obligations of $16 million have been included above and an equal amount has been reported as sublease rentals." + ], + "question_id": "simplong-test-237", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Loansheld-for-sale of Mortgage Banking Income (Loss)in Table 2, what's the increasing rate of Other assets of Fair Value Carrying Amount in Table 1?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The results from discontinued operations for our former Digital Television business unit were as follows:", + "||2009|2008|\n||(In millions)|\n|Net revenue|$\u2014|$73|\n|Expenses|-3|-147|\n|Impairment of goodwill and acquired intangible assets|\u2014|-609|\n|Restructuring charges|\u2014|-1|\n|Loss from discontinued operations|$-3|$-684|\n", + "Recently Adopted Accounting Standards Noncontrolling Interest.", + "In June 2009, the FASB issued guidance that amends the evaluation criteria to identify the primary beneficiary of a variable interest entity.", + "Additionally, this guidance requires ongoing reassessments of whether an enterprise is the primary beneficiary of the variable interest entity.", + "This guidance became effective for interim and annual reporting periods after November 15, 2009.", + "We adopted this new guidance as of the beginning of 2010, and we applied such guidance in evaluating whether we could deconsolidate GF given the changes in governance over the operations of GF that occurred effective December 28, 2009.", + "See Note 3 of Notes to Consolidated Financial Statements for additional information.", + "ITEM 7A.", + "QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Interest Rate Risk.", + "Our exposure to market risk for changes in interest rates relates primarily to our investment portfolio and long-term debt.", + "We usually invest our cash in investments with short maturities or with frequent interest reset terms.", + "Accordingly, our interest income fluctuates with short-term market conditions.", + "As of December 25, 2010, our investment portfolio consisted primarily of time deposits, money market funds, commercial paper and ARS.", + "With the exception of our ARS, these investments were highly liquid.", + "Due to the short-term nature of our investment portfolio and the current low interest rate environment, our exposure to interest rate risk is minimal.", + "As of December 25, 2010, all of our outstanding debt is fixed interest rate debt.", + "Consequently, our exposure to market risk for changes in interest rates on reported interest expense and corresponding cash flows is minimal.", + "We will continue to monitor our exposure to interest rate risk.", + "Default Risk.", + "We mitigate default risk in our investment portfolio by investing in only the highest credit quality securities and by constantly positioning our portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor.", + "Our portfolio includes investments in debt and marketable equity securities with active secondary or resale markets to ensure portfolio liquidity.", + "We are averse to principal loss and strive to preserve our invested funds by limiting default risk and market risk.", + "We actively monitor market conditions and developments specific to the securities and security classes in which we invest.", + "We believe that we take a conservative approach to investing our funds in that we invest only in highly-rated debt securities with relatively short maturities and do not invest in securities we believe involve a higher degree of risk.", + "As of December 25, 2010, substantially all of our investments in debt securities were AAA rated by at least one of the rating agencies.", + "While we believe we take prudent measures to mitigate investment related risks, such risks cannot be fully eliminated as there are circumstances outside of our control.", + "We believe the current credit market difficulties do not have a material impact on our financial position.", + "However, a future degradation in credit market conditions could have a material adverse effect on our financial position.", + "As a result of the uncertainties in the credit markets, all of our ARS were negatively affected and auctions for these securities failed to settle on their respective settlement dates.", + "As of December 25, 2010, we had", + "The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets or liabilities accounted for under the fair value option at December 31, 2010 and 2009.", + "||December 31|\n||2010|2009|\n||||Fair Value|||Fair Value|\n||||Carrying|||Carrying|\n|| Fair Value | Contractual |Amount|Fair Value |Contractual |Amount|\n|| Carrying | Principal |Less Unpaid|Carrying |Principal |Less Unpaid|\n|(Dollars in millions)| Amount| Outstanding|Principal|Amount|Outstanding|Principal|\n|Corporate loans and loan commitments-1|$4,135|$3,638|$497|$5,865|$5,460|$405|\n|Loansheld-for-sale|25,942|28,370|-2,428|32,795|36,522|-3,727|\n|Securities financing agreements|116,023|115,053|970|95,100|94,641|459|\n|Other assets|310|n/a|n/a|253|n/a|n/a|\n|Long-term deposits|2,732|2,692|40|1,663|1,605|58|\n|Asset-backed secured financings|706|1,356|-650|707|1,451|-744|\n|Commercial paper and other short-term borrowings|6,472|6,472|\u2013|813|813|\u2013|\n|Long-term debt|50,984|54,656|-3,672|45,451|48,560|-3,109|\n", + "(1) Includes unfunded loan commitments with an aggregate fair value of $866 million and $950 million and aggregated committed exposure of $27.3 billion and $27.0 billion at December 31, 2010 and 2009, respectively.", + "n/a = not applicable The tables below provide information about where changes in the fair value of assets or liabilities accounted for under the fair value option are included in the Consolidated Statement of Income for 2010, 2009 and 2008.", + "Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option", + "||2010|\n|(Dollars in millions)|Trading Account Profits (Losses)|Mortgage Banking Income (Loss)|Equity Investment Income (Loss)|Other Income (Loss)|Total|\n|Corporate loans and loan commitments|$2|$\u2013|$\u2013|$105|$107|\n|Loansheld-for-sale|\u2013|9,091|\u2013|493|9,584|\n|Securities financing agreements|\u2013|\u2013|\u2013|52|52|\n|Other assets|\u2013|\u2013|\u2013|107|107|\n|Long-term deposits|\u2013|\u2013|\u2013|-48|-48|\n|Asset-backed secured financings|\u2013|-95|\u2013|\u2013|-95|\n|Commercial paper and other short-term borrowings|-192|\u2013|\u2013|\u2013|-192|\n|Long-term debt|-625|\u2013|\u2013|22|-603|\n| Total|$-815|$8,996|$\u2013|$731|$8,912|\n||2009|\n|Corporate loans and loan commitments|$25|$\u2013|$\u2013|$1,886|$1,911|\n|Loansheld-for-sale|-211|8,251|\u2013|588|8,628|\n|Securities financing agreements|\u2013|\u2013|\u2013|-292|-292|\n|Other assets|379|\u2013|-177|\u2013|202|\n|Long-term deposits|\u2013|\u2013|\u2013|35|35|\n|Asset-backed secured financings|\u2013|-11|\u2013|\u2013|-11|\n|Commercial paper and other short-term borrowings|-236|\u2013|\u2013|\u2013|-236|\n|Long-term debt|-3,938|\u2013|\u2013|-4,900|-8,838|\n|Total|$-3,981|$8,240|$-177|$-2,683|$1,399|\n||2008|\n|Corporate loans and loan commitments|$4|$\u2013|$\u2013|$-1,248|$-1,244|\n|Loansheld-for-sale|-680|281|\u2013|-215|-614|\n|Securities financing agreements|\u2013|\u2013|\u2013|-18|-18|\n|Long-term deposits|\u2013|\u2013|\u2013|-10|-10|\n|Asset-backed secured financings|\u2013|295|\u2013|\u2013|295|\n|Total|$-676|$576|$\u2013|$-1,491|$-1,591|\n", + "Notes to the Consolidated Financial Statements 1.", + "Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of PPG Industries, Inc. (\u201cPPG\u201d or the \u201cCompany\u201d) and all subsidiaries, both U. S. and non-U.", + "S. , that it controls.", + "PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls.", + "For those consolidated subsidiaries in which the Company\u2019s ownership is less than 100%, the outside shareholders\u2019 interests are shown as noncontrolling interests.", + "Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting.", + "As a result, PPG\u2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and PPG\u2019s share of these companies\u2019 shareholders\u2019 equity is included in \"Investments\" in the accompanying consolidated balance sheet.", + "Transactions between PPG and its subsidiaries are eliminated in consolidation.", + "Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period.", + "Such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated.", + "Actual outcomes could differ from those estimates.", + "Revenue Recognition The Company recognizes revenue when the earnings process is complete.", + "Revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered.", + "Shipping and Handling Costs Amounts billed to customers for shipping and handling are reported in \u201cNet sales\u201d in the accompanying consolidated statement of income.", + "Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in \u201cCost of sales, exclusive of depreciation and amortization\u201d in the accompanying consolidated statement of income.", + "Selling, General and Administrative Costs Amounts presented as \u201cSelling, general and administrative\u201d in the accompanying consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate\u0002wide functional support in such areas as finance, law, human resources and planning.", + "Distribution costs pertain to the movement and storage of finished goods inventory at company\u0002 owned and leased warehouses, terminals and other distribution facilities.", + "Advertising Costs Advertising costs are expensed in the year incurred and totaled $345 million, $288 million and $245 million in 2013, 2012 and 2011, respectively.", + "Research and Development Research and development costs, which consist primarily of employee related costs, are charged to expense as incurred.", + "The following are the research and development costs for the years ended December 31:", + "|(Millions)|2013|2012|2011|\n|Research and development \u2013 total|$505|$468|$443|\n|Less depreciation on research facilities|17|15|15|\n|Research and development, net|$488|$453|$428|\n", + "Legal Costs Legal costs are expensed as incurred.", + "Legal costs incurred by PPG include legal costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes.", + "Foreign Currency Translation The functional currency of most significant non-U.", + "S. operations is their local currency.", + "Assets and liabilities of those operations are translated into U. S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period.", + "Unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders\u2019 equity.", + "Cash Equivalents Cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less.", + "Short-term Investments Short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to one year.", + "The purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows.", + "Marketable Equity Securities The Company\u2019s investment in marketable equity securities is recorded at fair market value and reported in \u201cOther current assets\u201d and \u201cInvestments\u201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income, net of tax, for those designated as available for sale securities.", + "The following table indicates the percentage of net sales represented by each of our major product categories during fiscal 2017 and 2016:" + ], + "question_id": "simplong-test-238", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the approximately number of vehicles that were converted to compressed natural gas", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Earnings from operations in 2017 increased by $4,444 million compared with 2016, primarily due to higher earnings at BCA and BDS, and higher unallocated pension income, which more than offset other unallocated items and eliminations.", + "BCA's 2017 earnings increased by $3,437 million primarily reflecting lower reach-forward losses, lower research and development costs, and improved margins reflecting favorable cost performance, which more than offset the impact of lower revenues.", + "In 2016, BCA recorded reach-forward losses of $1,258 million on the 747 program and reclassified $1,235 million of 787 flight test aircraft inventory costs to research and development expense.", + "BDS earnings from operations in 2017 increased by $257 million compared with 2016 primarily due to lower charges on the KC-46A Tanker and Commercial Crew programs, which more than offset the impact of fewer C-17 deliveries and Apache delivery mix.", + "Earnings from operations in 2016 decreased by $1,609 million compared with 2015 due to lower earnings at BCA, partially offset by the change in unallocated pension and postretirement income/(expense).", + "BCA earnings in 2016 decreased by $2,289 million primarily due to the reclassification of $1,235 million of 787 flight test aircraft costs to research and development and higher reach-forward losses on the 747 and KC-46ATanker programs.", + "The reclassification of flight test aircraft costs was recorded in the second quarter of 2016 as a result of our determination that two 787 flight test aircraft were no longer commercially saleable.", + "The change in the unallocated pension and postretirement income/(expense) in 2016 was primarily driven by lower service costs and lower amortization of actuarial losses.", + "During 2017, 2016 and 2015, we recorded reach-forward losses on the KC-46A Tanker program.", + "In 2017, we recorded charges of $471 million, of which $378 million was recorded at BCA and $93 million at BDS.", + "During 2016, we recorded charges of $1,128 million: $772 million at BCA and $356 million at BDS.", + "During 2015, we recorded charges of $835 million: $513 million at BCA and $322 million at BDS.", + "During 2016 and 2015 we recorded reach-forward losses on the 747 program of $1,258 million and $885 million.", + "Core operating earnings for 2017 increased by $3,506 million compared with 2016 primarily due to lower reach forward losses and the reclassification of costs related to the 787 flight test aircraft in 2016.", + "Core operating earnings in 2016 decreased by $2,227 million compared with 2015 primarily due to the reclassification of costs related to the 787 flight test aircraft and higher charges on the 747 and KC-46A Tanker programs described above.", + "Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other are shown in the following table:", + "|Years ended December 31,|2017|2016|2015|\n|Share-based plans|-$77|-$66|-$76|\n|Deferred compensation|-240|-46|-63|\n|Eliminations and other|-738|-621|-601|\n|Sub-total (included in core operating earnings*)|-1,055|-733|-740|\n|Pension|1,120|217|-421|\n|Postretirement|188|153|123|\n|Pension and other postretirement benefit income/(expense)(excluded from core operating earnings*)|1,308|370|-298|\n|Total unallocated items, eliminations and other|$253|-$363|-$1,038|\n", + "* Core operating earnings is a Non-GAAP measure that excludes certain components of pension and other postretirement benefit expense.", + "See pages 39 - 40.", + "Notes to the Financial Statements \u2014 Continued Note O \u2013 Derivative Instruments and Hedging Activities Con Edison\u2019s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.", + "Derivatives are recognized on the balance sheet at fair value (See Note P), unless an exception is available under the accounting rules for derivatives and hedging.", + "Qualifying derivative contracts that have been designated as normal purchases or normal sales contracts are not reported at fair value under the accounting rules.", + "The fair values of the Companies\u2019 commodity derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at December 31, 2014 and 2013 were:", + "| (Millions of Dollars)|2014|2013|\n| Balance Sheet Location|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|Gross Amountsof Recognized Assets/ (Liabilities)|Gross Amounts Offset|Net Amounts of Assets/ (Liabilities)(a)|\n| Con Edison|||||||\n|Fair value of derivative assets|||||||\n|Current|$111|$-67|$44(b)|$134|$-77|$57(b)|\n|Non-current|34|-23|11|32|-24|8|\n|Total fair value of derivative assets|$145|$-90|$55|$166|$-101|$65|\n|Fair value of derivative liabilities|||||||\n|Current|$-242|$139|$-103|$-82|$72|$-10|\n|Non-current|-66|91|25|-31|26|-5|\n|Total fair value of derivative liabilities|$-308|$230|$-78|$-113|$98|$-15|\n|Net fair value derivative assets/(liabilities)|$-163|$140|$-23(b)|$53|$-3|$50(b)|\n| CECONY|||||||\n|Fair value of derivative assets|||||||\n|Current|$26|$-15|$11(b)|$27|$-19|$8(b)|\n|Non-current|22|-20|2|14|-13|1|\n|Total fair value of derivative assets|$48|$-35|$13|$41|$-32|$9|\n|Fair value of derivative liabilities|||||||\n|Current|$-96|$48|$-48|$-32|$21|$-11|\n|Non-current liabilities|-42|32|-10|-19|16|-3|\n|Total fair value of derivative liabilities|$-138|$80|$-58|$-51|$37|$-14|\n|Net fair value derivative assets/(liabilities)|$-90|$45|$-45(b)|$-10|$5|$-5(b)|\n", + "(a) Derivative instruments and collateral were set off on the consolidated balance sheet as applicable under the accounting rules.", + "The Companies enter into master agreements for their commodity derivatives.", + "These agreements typically provide setoff in the event of contract termination.", + "In such case, generally the non-defaulting party\u2019s payable will be set-off by the defaulting party\u2019s payable.", + "The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.", + "(b) At December 31, 2014 and 2013, margin deposits for Con Edison ($27 million and $17 million, respectively) and CECONY ($25 million and $16 million, respectively) were classified as derivative assets in the balance sheet, but not included in the table.", + "Margin is collateral, typically cash, that the holder of a derivative instrument is required to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.", + "The Utilities generally recover their prudently incurred fuel, purchased power and gas costs, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility regulators.", + "See \u201cRecoverable Energy Costs\u201d in Note A.", + "In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives.", + "As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies\u2019 consolidated income statements.", + "Con Edison\u2019s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in purchased power, gas purchased for resale and non-utility revenue in the reporting period in which they occur.", + "Management believes that these derivative instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.", + "acquire operations and facilities from municipalities and other local governments, as they increasingly seek to raise capital and reduce risk.", + "We realize synergies from consolidating businesses into our existing operations, whether through acquisitions or public-private partnerships, which allows us to reduce capital expenditures and expenses associated with truck routing, personnel, fleet maintenance, inventories and back-office administration.", + "Operating Model The goal of our operating model pillar is to deliver a consistent, high-quality service to all of our customers through the Republic Way: One Way.", + "Everywhere.", + "Every day.", + "This approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence.", + "The Republic Way is the key to harnessing the best of what we do as operators and translating that across all facets of our business.", + "A key enabler of the Republic Way is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management, supported by a functional structure to provide subject matter expertise.", + "This structure allows us to take advantage of our scale by coordinating functionally across all of our markets, while empowering local management to respond to unique market dynamics.", + "We have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way.", + "Fleet Automation Approximately 75% 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, decrease emissions 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 19% of our fleet operates on natural gas.", + "We expect to continue our gradual fleet conversion to CNG as part of our ordinary annual fleet replacement process.", + "We believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments.", + "Approximately 30% of our replacement vehicle purchases during 2017 were CNG vehicles.", + "We believe using CNG vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment.", + "Although upfront capital costs are higher, using CNG reduces our overall fleet operating costs through lower fuel expenses.", + "As of December 31, 2017, we operated 37 CNG fueling stations.", + "Standardized Maintenance Based on an industry trade publication, we operate the seventh largest vocational fleet in the United States.", + "As of December 31, 2017, our average fleet age in years, by line of business, was as follows:", + "||Approximate Number of Vehicles|Approximate Average Age|\n|Residential|7,200|7.5|\n|Small-container|4,600|7.1|\n|Large-container|4,100|8.8|\n|Total|15,900|7.7|\n", + "Landfill depletion and amortization expense increased primarily due to increased landfill disposal volumes and an overall increase in our average depletion and amortization rate.", + "The increase in expense was partially offset by favorable amortization adjustments recorded during 2016 of $6.5 million relative to asset retirement obligations, compared to favorable amortization adjustments of $0.7 million during 2015.", + "Amortization of Other Intangible Assets and Other Assets Expenses for amortization of other intangible assets and other assets were $71.0 million, $71.3 million and $71.9 million for the years ended December 31, 2017, 2016 and 2015, respectively, or 0.7% of revenue for 2017 and 0.8% for 2016 and 2015.", + "Our other intangible assets and other assets primarily relate to customer relationships, franchise agreements, other municipal agreements, and, to a lesser extent, non-compete agreements and trade names.", + "The changes in amortization expense are the result of assets acquired in the acquisitions of various waste businesses throughout the year, offset by certain intangible assets now being fully amortized.", + "Accretion Expense Accretion expense was $79.8 million, $79.1 million and $79.4 million, or 0.8% of revenue, for the years ended December 31, 2017 and 2016, and 0.9% of revenue for the year ended December 31, 2015.", + "Accretion expense has remained relatively unchanged as our asset retirement obligations remained relatively consistent period over period.", + "Selling, General and Administrative Expenses Selling, general and administrative expenses include salaries, health and welfare benefits, and incentive compensation for corporate and field general management, field support functions, sales force, accounting and finance, legal, management information systems, and clerical and administrative departments.", + "Other expenses include rent and office costs, fees for professional services provided by third parties, legal settlements, marketing, investor and community relations services, directors\u2019 and officers\u2019 insurance, general employee relocation, travel, entertainment and bank charges.", + "Restructuring charges are excluded from selling, general and administrative expenses and are discussed separately below.", + "The following table summarizes our selling, general and administrative expenses for the years ended December 31, 2017, 2016 and 2015 (in millions of dollars and as a percentage of revenue):", + "||2017|2016|2015|\n|Salaries|$706.3|7.0%|$646.3|6.9%|$636.6|7.0%|\n|Provision for doubtful accounts|30.6|0.3|20.4|0.2|22.7|0.2|\n|Other|320.5|3.2|303.1|3.2|323.8|3.6|\n|Total selling, general and administrative expenses|$1,057.4|10.5%|$969.8|10.3%|$983.1|10.8%|\n", + "These cost categories may change from time to time and may not be comparable to similarly titled categories used by other companies.", + "As such, you should take care when comparing our selling, general and administrative expenses by cost component to those of other companies.", + "Selling, General and Administrative Expenses \u2013 2017 compared to 2016 Salaries increased primarily due to higher incentive pay and wages and other payroll related items resulting from merit increases.", + "Other selling, general and administrative expenses increased primarily due a favorable legal settlement during 2016.", + "Additionally, we had an increase in acquisition-related transaction costs associated with our increased acquisition activity during the year." + ], + "question_id": "simplong-test-239", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Held-for-sale in the sections where Held-for-investment is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "EDWARDS LIFESCIENCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 12.", + "EMPLOYEE BENEFIT PLANS (Continued) Equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded.", + "The insurance contracts are valued at the cash surrender value of the contracts, which is deemed to approximate its fair value.", + "The following benefit payments, which reflect expected future service, as appropriate, at December 31, 2016, are expected to be paid (in millions):", + "|2017|$4.5|\n|2018|4.0|\n|2019|4.0|\n|2020|4.6|\n|2021|4.5|\n|2021-2025|44.6|\n", + "As of December 31, 2016, expected employer contributions for 2017 are $6.1 million.", + "Defined Contribution Plans The Company\u2019s employees in the United States and Puerto Rico are eligible to participate in a qualified defined contribution plan.", + "In the United States, participants may contribute up to 25% of their eligible compensation (subject to tax code limitation) to the plan.", + "Edwards Lifesciences matches the first 3% of the participant\u2019s annual eligible compensation contributed to the plan on a dollar-for-dollar basis.", + "Edwards Lifesciences matches the next 2% of the participant\u2019s annual eligible compensation to the plan on a 50% basis.", + "In Puerto Rico, participants may contribute up to 25% of their annual compensation (subject to tax code limitation) to the plan.", + "Edwards Lifesciences matches the first 4% of participant\u2019s annual eligible compensation contributed to the plan on a 50% basis.", + "The Company also provides a 2% profit sharing contribution calculated on eligible earnings for each employee.", + "Matching contributions relating to Edwards Lifesciences employees were $17.3 million, $15.3 million, and $12.8 million in 2016, 2015, and 2014, respectively.", + "The Company also has nonqualified deferred compensation plans for a select group of employees.", + "The plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant.", + "The amount accrued under these nonqualified plans was $46.7 million and $35.5 million at December 31, 2016 and 2015, respectively.13.", + "COMMON STOCK Treasury Stock In July 2014, the Board of Directors approved a stock repurchase program authorizing the Company to purchase up to $750.0 million of the Company\u2019s common stock.", + "In November 2016, the Board of Directors approved a new stock repurchase program providing for an additional $1.0 billion of repurchases of our common stock.", + "The repurchase programs do not have an expiration date.", + "Stock repurchased under these programs may be used to offset obligations under the Company\u2019s employee stock-based benefit programs and stock-based business acquisitions, and will reduce the total shares outstanding.", + "During 2016, 2015, and 2014, the Company repurchased 7.3 million, 2.6 million, and 4.4 million shares, respectively, at an aggregate cost of $662.3 million, $280.1 million, and $300.9 million, respectively, including", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Residential mortgage loans held-for-sale accounted for under the fair value option are initially measured at estimated fair value.", + "Interest income on residential mortgage loans held-for-sale is recorded based on the stated rate of the loan and is recorded in net investment income.", + "Gains and losses from initial measurement, subsequent changes in estimated fair value and gains or losses on sales are recognized in other revenues, and such changes in estimated fair value were due to the following:", + "|| For the Years Ended December 31,|\n||2009| 2008|\n|| (In millions)|\n|Instrument-specific credit risk based on changes in credit spreads for non-agency loans and adjustments in individual loan quality|$-2|$\u2014|\n|Other changes in estimated fair value|600|55|\n|Total gains (losses) recognized in other revenues|$598|$55|\n", + "Non-Recurring Fair Value Measurements Certain assets are measured at estimated fair value on a non-recurring basis and are not included in the tables above.", + "The amounts below relate to certain investments measured at estimated fair value during the period and still held as of the reporting dates.", + "||For the Years Ended December 31,|\n||2009|2008|\n||| Estimated ||| Estimated ||\n|| Carrying | Fair || Carrying | Fair ||\n|| Value Prior to | Value After |Gains| Value Prior to | Value After |Gains|\n|| Impairment| Impairment|(Losses)| Impairment| Impairment|(Losses)|\n||(In millions)|\n|Mortgage loans -1:|||||||\n|Held-for-investment|$294|$202|$-92|$257|$188|$-69|\n|Held-for-sale|9|8|-1|42|32|-10|\n|Mortgage loans, net|$303|$210|$-93|$299|$220|$-79|\n|Other limited partnership interests -2|$915|$561|$-354|$242|$137|$-105|\n|Real estate joint ventures -3|$175|$93|$-82|$\u2014|$\u2014|$\u2014|\n", + "(1) Mortgage Loans \u2014 The impaired mortgage loans presented above were written down to their estimated fair values at the date the impairments were recognized.", + "Estimated fair values for impaired mortgage loans are based on observable market prices or, if the loans are in foreclosure or are otherwise determined to be collateral dependent, on the estimated fair value of the underlying collateral, or the present value of the expected future cash flows.", + "Impairments to estimated fair value represent non-recurring fair value measurements that have been categorized as Level 3 due to the lack of price transparency inherent in the limited markets for such mortgage loans.", + "(2) Other Limited Partnership Interests \u2014 The impaired investments presented above were accounted for using the cost basis.", + "Impairments on these cost basis investments were recognized at estimated fair value determined from information provided in the financial statements of the underlying entities in the period in which the impairment was incurred.", + "These impairments to estimated fair value represent non\u0002recurring fair value measurements that have been classified as Level 3 due to the limited activity and price transparency inherent in the market for such investments.", + "This category includes several private equity and debt funds that typically invest primarily in a diversified pool of investments across certain investment strategies including domestic and international leveraged buyout funds; power, energy, timber and infrastructure development funds; venture capital funds; below investment grade debt and mezzanine debt funds.", + "The estimated fair values of these investments have been determined using the NAV of the Company\u2019s ownership interest in the partners\u2019 capital.", + "Distributions from these investments will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds.", + "It is estimated that the underlying assets of the funds will be liquidated over the next 2 to 10 years.", + "Unfunded commitments for these investments were $354 million as of December 31, 2009.", + "(3) Real Estate Joint Ventures \u2014 The impaired investments presented above were accounted for using the cost basis.", + "Impairments on these cost basis investments were recognized at estimated fair value determined from information provided in the financial statements of the underlying entities in the period in which the impairment was incurred.", + "These impairments to estimated fair value represent non-recurring fair value measurements that have been classified as Level 3 due to the limited activity and price transparency inherent in the market for such investments.", + "This category includes several real estate funds that typically invest primarily in commercial real estate.", + "The estimated fair values of these investments have been determined using the NAV of the Company\u2019s ownership interest in the partners\u2019 capital.", + "Distributions from these investments will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds.", + "It is estimated that the underlying assets of the funds will be liquidated over the next 2 to 10 years.", + "Unfunded commitments for these investments were $86 million as of December 31, 2009.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2012|$425|$17|$337|\n|2013|$386|$20|$279|\n|2014|$332|$12|$202|\n|2015|$283|$12|$172|\n|2016|$223|$12|$145|\n|Thereafter|$921|$74|$917|\n", + "The Company previously moved certain of its operations in New York from Long Island City, Queens to Manhattan.", + "Market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space following this movement of operations, resulted in a lease impairment charge of $52 million during 2009, which is included in other expenses within Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions change.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.0 billion and $3.8 billion at December 31, 2011 and 2010, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $5.6 billion and $2.5 billion at December 31, 2011 and 2010, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards.", + "See Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $4.1 billion and $3.8 billion at December 31, 2011 and 2010, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.4 billion and $2.4 billion at December 31, 2011 and 2010, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.5 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "The Company has also guaranteed minimum investment returns on certain international retirement funds in accordance with local laws.", + "Since these guarantees are not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "During the year ended December 31, 2011, the Company did not record any additional liabilities for indemnities, guarantees and commitments.", + "The Company\u2019s recorded liabilities were $5 million at both December 31, 2011 and 2010, for indemnities, guarantees and commitments.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (continued) 8.", + "Investments (continued) At December?31, 2017, $117?million of the total $1.9?billion of gross unrealized losses were from 31 fixed maturity securities with an unrealized loss position of 20% or more of amortized cost for six months or greater.", + "Gross unrealized losses on equity securities decreased $33 million during the year ended December?31, 2017 to $20?million.", + "Investment Grade Fixed Maturity Securities Of the $117?million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $73?million, or 62%, were related to gross unrealized losses on 12 investment grade fixed maturity securities.", + "Unrealized losses on investment grade fixed maturity securities are principally related to widening credit spreads since purchase and, with respect to fixed-rate fixed maturity securities, rising interest rates since purchase.", + "Below Investment Grade Fixed Maturity Securities Of the $117?million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $44?million, or 38%, were related to gross unrealized losses on 19 below investment grade fixed maturity securities.", + "Unrealized losses on below investment grade fixed maturity securities are principally related to U. S. and foreign corporate securities (primarily industrial and utility securities) and non-agency RMBS (primarily alternative residential mortgage loans) and are the result of significantly wider credit spreads resulting from higher risk premiums since purchase, largely due to economic and market uncertainty including concerns over lower oil prices in the energy sector and valuations of residential real estate supporting non-agency RMBS.", + "Management evaluates U. S. and foreign corporate securities based on factors such as expected cash flows and the financial condition and near-term and long-term prospects of the issuers and evaluates non-agency RMBS based on actual and projected cash flows after considering the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying assets backing a particular security and the payment priority within the tranche structure of the security.", + "Table of Contents MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (continued) 8.", + "Investments (continued) 278 Mortgage Loans Mortgage Loans by Portfolio Segment Mortgage loans are summarized as follows at:" + ], + "question_id": "simplong-test-240", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of value in the range of 400 and 1000 in 2011? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U. S. Acquisitions\u2014During the year ended December 31, 2010, the Company acquired 548 towers through multiple acquisitions in the United States for an aggregate purchase price of $329.3 million and contingent consideration of approximately $4.6 million.", + "The acquisition of these towers is consistent with the Company\u2019s strategy to expand in selected geographic areas and have been accounted for as business combinations.", + "The following table summarizes the preliminary allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition (in thousands):", + "||Purchase Price Allocation|\n|Non-current assets|$442|\n|Property and equipment|64,564|\n|Intangible assets -1|260,898|\n|Current liabilities|-360|\n|Long-term liabilities|-7,802|\n|Fair value of net assets acquired|$317,742|\n|Goodwill -2|16,131|\n", + "(1) Consists of customer relationships of approximately $205.4 million and network location intangibles of approximately $55.5 million.", + "The customer relationships and network location intangibles are being amortized on a straight-line basis over a period of 20 years.", + "(2) Goodwill is expected to be deductible for income tax purposes.", + "The goodwill was allocated to the domestic rental and management segment.", + "The allocation of the purchase price will be finalized upon completion of analyses of the fair value of the assets acquired and liabilities assumed.", + "South Africa Acquisition\u2014On November 4, 2010, the Company entered into a definitive agreement with Cell C (Pty) Limited to purchase up to approximately 1,400 existing towers, and up to 1,800 additional towers that either are under construction or will be constructed, for an aggregate purchase price of up to approximately $430 million.", + "The Company anticipates closing the purchase of up to 1,400 existing towers during 2011, subject to customary closing conditions.", + "Other Transactions Coltel Transaction\u2014On September 3, 2010, the Company entered into a definitive agreement to purchase the exclusive use rights for towers in Colombia from Colombia Telecomunicaciones S. A. E. S. P. (\u201cColtel\u201d) until 2023, when ownership of the towers will transfer to the Company at no additional cost.", + "Pursuant to that agreement, the Company completed the purchase of exclusive use rights for 508 towers for an aggregate purchase price of $86.8 million during the year ended December 31, 2010.", + "The Company expects to complete the purchase of the exclusive use rights for an additional 180 towers by the end of 2011, subject to customary closing conditions.", + "The transaction has been accounted for as a capital lease, with the aggregated purchase price being allocated to property and equipment and non-current assets.", + "Joint Venture with MTN Group\u2014On December 6, 2010, the Company entered into a definitive agreement with MTN Group Limited (\u201cMTN Group\u201d) to establish a joint venture in Ghana (\u201cTowerCo Ghana\u201d).", + "TowerCo Ghana, which will be managed by the Company, will be owned by a holding company of which a wholly owned American Tower subsidiary will hold a 51% share and a wholly owned MTN Group subsidiary (\u201cMTN Ghana\u201d) will hold a 49% share.", + "The transaction involves the sale of up to 1,876 of MTN Ghana\u2019s existing sites to", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) its homes constructed in these markets and of the warranty claims received in these markets as well as testing of specific homes.", + "Through September 30, 2010, the Company has spent approximately $4.9 million to remediate these homes.", + "While the Company will seek reimbursement for these remediation costs from various sources, it has not recorded a receivable for potential recoveries as of September 30, 2010.", + "The Company is continuing its investigation to determine if there are additional homes with the Chinese Drywall in these markets, which if found, would likely require the Company to further increase its warranty reserve for this matter in the future.", + "The remaining costs accrued to complete this remediation are based on the Company\u2019s estimate of remaining repair costs.", + "If the actual costs to remediate the homes differ from the estimated costs, the Company may revise its warranty estimate.", + "As of September 30, 2010, the Company has been named as a defendant in several lawsuits in Louisiana and Florida pertaining to Chinese Drywall.", + "As these actions are still in their early stages, the Company is unable to express an opinion as to the amount of damages, if any, beyond what has been reserved for repair as discussed above.", + "Changes in the Company\u2019s warranty liability during fiscal 2010 and 2009 were as follows:", + "||September 30,|\n||2010|2009|\n||(In millions)|\n|Warranty liability, beginning of year|$59.6|$83.4|\n|Warranties issued|19.5|16.8|\n|Changes in liability for pre-existing warranties|-5.0|-16.0|\n|Settlements made|-27.9|-24.6|\n|Warranty liability, end of year|$46.2|$59.6|\n", + "Insurance and Legal Claims The Company has been named as defendant in various claims, complaints and other legal actions including construction defect claims on closed homes and other claims and lawsuits incurred in the ordinary course of business, including employment matters, personal injury claims, land development issues, contract disputes and claims related to its mortgage activities.", + "The Company has established reserves for these contingencies, based on the expected costs of the claims.", + "The Company\u2019s estimates of such reserves are based on the facts and circumstances of individual pending claims and historical data and trends, including costs relative to revenues, home closings and product types, and include estimates of the costs of construction defect claims incurred but not yet reported.", + "These reserve estimates are subject to ongoing revision as the circumstances of individual pending claims and historical data and trends change.", + "Adjustments to estimated reserves are recorded in the accounting period in which the change in estimate occurs.", + "The Company\u2019s liabilities for these items were $571.3 million and $534.0 million at September 30, 2010 and 2009, respectively, and are included in homebuilding accrued expenses and other liabilities in the consolidated balance sheets.", + "Related to the contingencies for construction defect claims and estimates of construction defect claims incurred but not yet reported, and other legal claims and lawsuits incurred in the ordinary course of business, the Company estimates and records insurance receivables for these matters under applicable insurance policies when recovery is probable.", + "Additionally, the Company may have the ability to recover a portion of its legal expenses from its subcontractors when the Company has been named as an additional insured on their insurance policies.", + "Estimates of the Company\u2019s insurance receivables related to these matters totaled $251.5 million and $234.6 million at September 30, 2010 and 2009, respectively, and are included in homebuilding other assets in the consolidated balance sheets.", + "Expenses related to these items were approximately $43.2 million, $58.3 million and $53.8 million in fiscal 2010, 2009 and 2008, respectively.", + "Management believes that, while the outcome of such contingencies cannot be predicted with certainty, the liabilities arising from these matters will not have a material adverse effect on the Company\u2019s consolidated", + "The average price of our net sales orders in 2011 was $214,000, an increase of 3% from the $207,000 average in 2010.", + "The largest percentage increases were in our Southwest and West regions and were primarily due to opening new communities and adjusting our product mix, with higher priced communities representing more of our sales.", + "Our annual sales order cancellation rate was 27% in fiscal 2011, compared to 26% in fiscal 2010.", + "These cancellation rates were above historical levels, reflecting the challenges in most of our homebuilding markets.", + "||Sales Order Backlog As of September 30,|\n||Homes in Backlog|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|606|472|28%|$147.6|$103.4|43%|$243,600|$219,100|11%|\n|Midwest|288|247|17%|80.6|70.1|15%|279,900|283,800|-1%|\n|Southeast|1,285|812|58%|246.9|162.5|52%|192,100|200,100|-4%|\n|South Central|1,710|1,691|1%|309.5|297.3|4%|181,000|175,800|3%|\n|Southwest|426|405|5%|76.6|71.9|7%|179,800|177,500|1%|\n|West|539|501|8%|175.0|145.6|20%|324,700|290,600|12%|\n||4,854|4,128|18%|$1,036.2|$850.8|22%|$213,500|$206,100|4%|\n", + "Sales Order Backlog Our homes in backlog at September 30, 2011 increased 18% from the prior year, with significant increases in our East, Midwest and Southeast regions.", + "The number of homes in backlog in these regions benefited from more active communities and improved third and fourth quarter sales as compared with the same periods of the prior year.", + "Homes Closed and Home Sales Revenue", + "||Homes Closed and Home Sales Revenue Fiscal Year Ended September 30,|\n||Homes Closed|Value (In millions)|Average Selling Price|\n||2011|2010|%Change|2011|2010|%Change|2011|2010|%Change|\n|East|1,932|2,114|-9%|$438.4|$492.2|-11%|$226,900|$232,800|-3%|\n|Midwest|964|1,187|-19%|261.5|330.9|-21%|271,300|278,800|-3%|\n|Southeast|3,546|4,049|-12%|691.8|745.2|-7%|195,100|184,000|6%|\n|South Central|6,150|8,046|-24%|1,080.0|1,378.8|-22%|175,600|171,400|2%|\n|Southwest|1,263|1,872|-33%|234.8|329.7|-29%|185,900|176,100|6%|\n|West|2,840|3,607|-21%|835.8|1,025.5|-18%|294,300|284,300|4%|\n||16,695|20,875|-20%|$3,542.3|$4,302.3|-18%|$212,200|$206,100|3%|\n", + "Home Sales Revenue Revenues from home sales decreased 18%, to $3,542.3 million (16,695 homes closed) in 2011 from $4,302.3 million (20,875 homes closed) in 2010.", + "The average selling price of homes closed during 2011 was $212,200, up 3% from the $206,100 average in 2010 which reflected a change in product mix rather than broad price appreciation.", + "During fiscal 2011, home sales revenues decreased in all of our market regions, resulting from decreases in the number of homes closed.", + "The number of homes closed in fiscal 2011 decreased 20% due to decreases in all of our market regions.", + "The federal homebuyer tax credit helped stimulate demand for new homes during fiscal 2010 and following its expiration we experienced a significant decline in demand for our homes that extended into fiscal 2011.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 75 Effective August 1, 2017, the Board of Directors authorized the repurchase of up to $500 million of the Company\u2019s debt securities effective through July 31, 2018.", + "All of the $500 million authorization was remaining at September 30, 2017.", + "Financial Services: The Company\u2019s mortgage subsidiary, DHI Mortgage, has a mortgage repurchase facility that is accounted for as a secured financing.", + "The mortgage repurchase facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to the counterparties against the transfer of funds by the counterparties, thereby becoming purchased loans.", + "DHI Mortgage then has the right and obligation to repurchase the purchased loans upon their sale to third-party purchasers in the secondary market or within specified time frames from 45 to 60 days in accordance with the terms of the mortgage repurchase facility.", + "In February 2017, the mortgage repurchase facility was amended to increase its capacity to $600 million and extend its maturity date to February 23, 2018.", + "The capacity of the facility increases, without requiring additional commitments, to $725 million for approximately 30 days at each quarter end and to $800 million for approximately 45 days at fiscal year end.", + "The capacity can also be increased to $1.0 billion subject to the availability of additional commitments.", + "As of September 30, 2017, $540.1 million of mortgage loans held for sale with a collateral value of $520.0 million were pledged under the mortgage repurchase facility.", + "As a result of advance paydowns totaling $100.0 million, DHI Mortgage had an obligation of $420.0 million outstanding under the mortgage repurchase facility at September 30, 2017 at a 3.3% annual interest rate.", + "The mortgage repurchase facility is not guaranteed by D. R. Horton, Inc. or any of the subsidiaries that guarantee the Company\u2019s homebuilding debt.", + "The facility contains financial covenants as to the mortgage subsidiary\u2019s minimum required tangible net worth, its maximum allowable ratio of debt to tangible net worth and its minimum required liquidity.", + "These covenants are measured and reported to the lenders monthly.", + "At September 30, 2017, DHI Mortgage was in compliance with all of the conditions and covenants of the mortgage repurchase facility.", + "In the past, DHI Mortgage has been able to renew or extend its mortgage credit facility at a sufficient capacity and on satisfactory terms prior to its maturity and obtain temporary additional commitments through amendments to the credit facility during periods of higher than normal volumes of mortgages held for sale.", + "The liquidity of the Company\u2019s financial services business depends upon its continued ability to renew and extend the mortgage repurchase facility or to obtain other additional financing in sufficient capacities.", + "NOTE E \u2013 CAPITALIZED INTEREST The following table summarizes the Company\u2019s interest costs incurred, capitalized and expensed during the years ended September 30, 2017, 2016 and 2015." + ], + "question_id": "simplong-test-241", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Distribution fees to the total in 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 2: Properties Information concerning Applied\u2019s properties is set forth below:", + "|(Square feet in thousands)|United States|Other Countries|Total|\n|Owned|3,964|1,652|5,616|\n|Leased|845|1,153|1,998|\n|Total|4,809|2,805|7,614|\n", + "Because of the interrelation of Applied\u2019s operations, properties within a country may be shared by the segments operating within that country.", + "The Company\u2019s headquarters offices are in Santa Clara, California.", + "Products in Semiconductor Systems are manufactured in Santa Clara, California; Austin, Texas; Gloucester, Massachusetts; Kalispell, Montana; Rehovot, Israel; and Singapore.", + "Remanufactured equipment products in the Applied Global Services segment are produced primarily in Austin, Texas.", + "Products in the Display and Adjacent Markets segment are manufactured in Alzenau, Germany; and Tainan, Taiwan.", + "Other products are manufactured in Treviso, Italy.", + "Applied also owns and leases offices, plants and warehouse locations in many locations throughout the world, including in Europe, Japan, North America (principally the United States), Israel, China, India, Korea, Southeast Asia and Taiwan.", + "These facilities are principally used for manufacturing; research, development and engineering; and marketing, sales and customer support.", + "Applied also owns a total of approximately 269 acres of buildable land in Montana, Texas, California, Israel and Italy that could accommodate additional building space.", + "Applied considers the properties that it owns or leases as adequate to meet its current and future requirements.", + "Applied regularly assesses the size, capability and location of its global infrastructure and periodically makes adjustments based on these assessments.", + "General and administrative expense, which excludes integration charges, decreased $42 million, or 3%, to $1.2 billion for the year ended December 31, 2012 compared to $1.3 billion for the prior year primarily due to continued expense controls, partially offset by an increase of approximately $19 million related to higher performance fee-related compensation.", + "Annuities Our Annuities segment provides variable and fixed annuity products of RiverSource Life companies to individual clients.", + "We provide our variable annuity products through our advisors, and fixed annuity products are provided through both affiliated and unaffiliated advisors and financial institutions.", + "Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows.", + "Revenues for our fixed annuity products are primarily earned as net investment income on assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances.", + "We also earn net investment income on owned assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business.", + "Intersegment revenues for this segment reflect fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of variable insurance trust funds (\u2018\u2018VIT Funds\u2019\u2019) under the variable annuity contracts.", + "Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.", + "The following table presents the results of operations of our Annuities segment on an operating basis:", + "| | Years Ended December 31,|||\n| | 2012| 2011|Change|\n| |(in millions)|\n| Revenues|||||\n|Management and financial advice fees|$648|$622|$26|4%|\n|Distribution fees|317|312|5|2|\n|Net investment income|1,132|1,279|-147|-11|\n|Premiums|118|161|-43|-27|\n|Other revenues|309|256|53|21|\n|Total revenues|2,524|2,630|-106|-4|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|2,524|2,630|-106|-4|\n| Expenses|||||\n|Distribution expenses|395|400|-5|-1|\n|Interest credited to fixed accounts|688|714|-26|-4|\n|Benefits, claims, losses and settlement expenses|419|405|14|3|\n|Amortization of deferred acquisition costs|229|264|-35|-13|\n|Interest and debt expense|2|1|1|NM|\n|General and administrative expense|224|221|3|1|\n|Total expenses|1,957|2,005|-48|-2|\n|Operating earnings|$567|$625|$-58|-9%|\n", + "NM Not Meaningful.", + "Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed living benefits (net of hedges and the related DSIC and DAC amortization), decreased $58 million, or 9%, to $567 million for the year ended December 31, 2012 compared to $625 million for the prior year primarily due to a decline in net investment income and an unfavorable impact from unlocking and model changes, partially offset by the market impact on DAC and DSIC, lower interest credited to fixed accounts and higher fee revenues.", + "Results for 2011 included $34 million of additional bond discount accretion investment income related to prior periods resulting from revisions to the accounting classification of certain structured securities, net of DAC and DSIC amortization.", + "The impact of unlocking and model changes was a decrease to pretax operating income of $11 million in 2012 compared to an increase of $1 million in the prior year.", + "The impact of unlocking and model changes for 2012 included a $43 million benefit, net of DAC and DSIC amortization, from an adjustment to the model which values the reserves related to living benefit guarantees primarily attributable to prior periods.", + "This revision aligns the model to more accurately reflect best estimate assumptions for living benefit utilization going forward.", + "The market impact on DAC and DSIC was a benefit of $29 million in 2012 compared to an expense of $10 million in the prior year.", + "RiverSource variable annuity account balances increased 9% to $68.1 billion at December 31, 2012 compared to the prior year driven by market appreciation.", + "Variable annuity net outflows of $457 million in 2012 reflected the closed book", + "Note 5.", + "Long-Term Obligations Long-Term Obligations consist of the following (in thousands):", + "||December 31,|\n||2012|2011|\n|Senior secured credit agreement:|||\n|Term loans payable|$420,625|$240,625|\n|Revolving credit facility|553,964|660,730|\n|Receivables securitization facility|80,000|\u2014|\n|Notes payable through October 2018 at weighted average interest rates of 1.7% and 2.0%, respectively|42,398|38,338|\n|Other long-term debt at weighted average interest rates of 3.3% and 3.2%, respectively|21,491|16,383|\n||1,118,478|956,076|\n|Less current maturities|-71,716|-29,524|\n||$1,046,762|$926,552|\n", + "The scheduled maturities of long-term obligations outstanding at December 31, 2012 are as follows (in thousands):" + ], + "question_id": "simplong-test-242", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Net occupancy in relation to the total in 2005? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Investment tax credits have been deferred by the regulated utility subsidiaries and are being amortized to income over the average estimated service lives of the related assets.", + "The Company recognizes accrued interest and penalties related to tax positions as a component of income tax expense and accounts for sales tax collected from customers and remitted to taxing authorities on a net basis.", + "See Note 14\u2014Income Taxes for additional information.", + "Allowance for Funds Used During Construction AFUDC is a non-cash credit to income with a corresponding charge to utility plant that represents the cost of borrowed funds or a return on equity funds devoted to plant under construction.", + "The regulated utility subsidiaries record AFUDC to the extent permitted by the PUCs.", + "The portion of AFUDC attributable to borrowed funds is shown as a reduction of Interest, net on the Consolidated Statements of Operations.", + "Any portion of AFUDC attributable to equity funds would be included in Other, net on the Consolidated Statements of Operations.", + "AFUDC is provided in the following table for the years ended December 31:", + "||2018|2017|2016|\n|Allowance for other funds used during construction|$24|$19|$15|\n|Allowance for borrowed funds used during construction|13|8|6|\n", + "Environmental Costs The Company\u2019s water and wastewater operations and the operations of its Market-Based Businesses are subject to U. S. federal, state, local and foreign requirements relating to environmental protection, and as such, the Company periodically becomes subject to environmental claims in the normal course of business.", + "Environmental expenditures that relate to current operations or provide a future benefit are expensed or capitalized as appropriate.", + "Remediation costs that relate to an existing condition caused by past operations are accrued, on an undiscounted basis, when it is probable that these costs will be incurred and can be reasonably estimated.", + "A conservation agreement entered into by a subsidiary of the Company with the National Oceanic and Atmospheric Administration in 2010 and amended in 2017 required the subsidiary to, among other provisions, implement certain measures to protect the steelhead trout and its habitat in the Carmel River watershed in the State of California.", + "The subsidiary agreed to pay $1 million annually commencing in 2010 with the final payment being made in 2021.", + "Remediation costs accrued amounted to $4 million and $6 million as of December 31, 2018 and 2017, respectively.", + "Derivative Financial Instruments The Company uses derivative financial instruments for purposes of hedging exposures to fluctuations in interest rates.", + "These derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures.", + "The Company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments.", + "All derivatives are recognized on the balance sheet at fair value.", + "On the date the derivative contract is entered into, the Company may designate the derivative as a hedge of the fair value of a recognized asset or liability (fair-value hedge) or a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash-flow hedge).", + "Changes in the fair value of a fair-value hedge, along with the gain or loss on the underlying hedged item, are recorded in current-period earnings.", + "The gains and losses on the effective portion of cash-flow hedges are recorded in other comprehensive income, until earnings are affected by the variability of cash flows.", + "Any ineffective portion of designated cash-flow hedges is recognized in current-period earnings.", + "Revenue", + "||Year Ended|Year Ended|\n||January 25,2015|January 26,2014|$Change|%Change|January 26,2014|January 27,2013|$Change|%Change|\n||(In millions)|(In millions)|\n|GPU|$3,838.9|$3,468.1|$370.8|11%|$3,468.1|$3,251.7|$216.4|7%|\n|Tegra Processor|578.6|398.0|180.6|45%|398.0|764.4|-366.4|-48%|\n|All Other|264.0|264.0|\u2014|\u2014%|264.0|264.0|\u2014|\u2014%|\n|Total|$4,681.5|$4,130.1|$551.4|13%|$4,130.1|$4,280.1|$-150.0|-4%|\n", + "Revenue was $4.68 billion, $4.13 billion and $4.28 billion for fiscal years 2015, 2014 and 2013, respectively.", + "A discussion of our revenue results for each of our reporting segments and the All Other category is as follows: GPU Business.", + "GPU business revenue increased by 11% in fiscal year 2015 compared to fiscal year 2014.", + "This increase was due primarily to higher revenue from GeForce GTX GPUs and associated memory for gaming, reflecting a combination of continued strength in PC gaming and increased sales of our Maxwell-based GPU products.", + "Revenue from Tesla for accelerated datacenter computing increased due to large project wins with cloud service providers and revenue from our NVIDIA GRID virtualization products also increased as this platform gained momentum.", + "Revenue from GPU products for mainstream PC OEMs declined compared to last year.", + "GPU business revenue increased by 7% in fiscal year 2014 compared to fiscal year 2013.", + "This increase was largely attributable to strength in our high-end GeForce GTX GPUs driven by gaming market segment demand.", + "The GPU business also benefited from higher sales of Tesla accelerated datacenter computing and Quadro enterprise products in fiscal year 2014.", + "Offsetting these growth areas were declines in the overall market for mainstream desktop PCs and notebooks, which contributed to lower unit volumes of our mainstream GeForce GPUs.", + "Tegra Processor Business.", + "Tegra Processor business revenue increased by 45% in fiscal year 2015 compared to fiscal year 2014.", + "This increase was driven by higher sales of Tegra products serving automotive infotainment systems, smartphones and tablet devices, and the onset of SHIELD tablet sales in fiscal year 2015.", + "Tegra Processor business revenue decreased by 48% in fiscal year 2014 compared to fiscal year 2013.", + "This decrease was primarily due to lower sales of our previous generation Tegra 3-based products for smartphones and tablet devices.", + "Additionally, sales of our embedded products for entertainment devices and revenue from license fees related to game consoles also decreased during fiscal year 2014.", + "These decreases were partially offset by increased sales of Tegra 4-based products for smartphones and tablet devices, as well as for automotive infotainment systems.", + "All Other.", + "License revenue from the patent cross licensing arrangement we entered into with Intel in January 2011 was flat at $264.0 million for fiscal years 2015, 2014 and 2013.", + "Concentration of Revenue Revenue from sales to customers outside of the United States and Other Americas accounted for 75% of total revenue for both fiscal years 2015 and 2014, and 74% of total revenue for fiscal year 2013.", + "Revenue by geographic region is allocated to individual countries based on the location to which the products are initially billed even if the revenue is attributable to end customers in a different location.", + "Total intangible asset amortization expense in 2017, 2016 and 2015 was $145,128, $108,019 and $109,887, respectively.", + "Estimated intangible asset amortization expense for the five years ending June 30, 2018 through 2022 is $219,238, $209,047, $200,242, $191,520 and $155,482, respectively.", + "Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value.", + "No such events occurred in 2017, 2016 or 2015.8. Financing Arrangements The Company has a line of credit totaling $2,000,000 through a multi-currency revolving credit agreement with a group of banks, $1,465,800 of which was available at June 30, 2017.", + "The credit agreement expires in October 2021; however, the Company has the right to request a one-year extension of the expiration date on an annual basis, which request may result in changes to the current terms and conditions of the credit agreement.", + "Advances from the credit agreement can be used for general corporate purposes, including acquisitions, and for the refinancing of existing indebtedness.", + "The credit agreement requires the payment of an annual facility fee, the amount of which may increase in the event the Company's credit ratings are lowered.", + "Although a lowering of the Company's credit ratings would likely increase the cost of future debt, it would not limit the Company's ability to use the credit agreement nor would it accelerate the repayment of any outstanding borrowings.", + "The Company is currently authorized to sell up to $2,000,000 of short-term commercial paper notes.", + "At June 30, 2017, $534,200 of commercial paper notes were outstanding and $303,700 commercial paper notes were outstanding at June 30, 2016.", + "In addition to commercial paper notes, notes payable includes short-term lines of credit and borrowings from foreign banks.", + "At June 30, 2017, the Company had $62,946 in lines of credit from various foreign banks, none of which had amounts outstanding at June 30, 2017 or at June 30, 2016.", + "Most of these agreements are renewed annually.", + "The weighted-average interest rate on notes payable during both 2017 and 2016 was 0.3 percent.", + "The Company's foreign locations in the ordinary course of business may enter into financial guarantees through financial institutions which enable customers to be reimbursed in the event of nonperformance by the Company.", + "The Company's credit agreements and indentures governing certain debt agreements contain various covenants, the violation of which would limit or preclude the use of the applicable agreements for future borrowings, or might accelerate the maturity of the related outstanding borrowings covered by the applicable agreements.", + "Based on the Company's rating level at June 30, 2017, the most restrictive financial covenant provides that the ratio of debt to debt-shareholders' equity cannot exceed 0.60 to 1.0.", + "As of June 30, 2017, the Company's debt to debt-shareholders' equity ratio was 0.529 to 1.0.", + "The Company is in compliance with all covenants.9.", + "Debt", + "|June 30,|2017|2016|\n|Domestic:|||\n|Fixed rate medium-term notes, 3.30% to 6.55%, due 2018-2045|$2,675,000|$2,675,000|\n|Senior Notes, 3.25% to 4.10%, due 2027 - 2047|1,300,000|\u2014|\n|Term loan, Libor plus 100 bps, due 2020|493,750|\u2014|\n|Foreign:|||\n|Euro Senior Notes, 1.125%, due 2025|799,890|\u2014|\n|Euro Term loan, Libor plus 150 bps, due 2022|114,270|\u2014|\n|Japanese Yen credit facility, JPY Libor plus 55 bps, due 2017|\u2014|58,140|\n|Other long-term debt|433|\u2014|\n|Deferred debt issuance costs|-47,183|-22,596|\n|Total long-term debt|5,336,160|2,710,544|\n|Less: Long-term debt payable within one year|474,265|58,087|\n|Long-term debt, net|$4,861,895|$2,652,457|\n", + "The following table presents the detail of noninterest expense and the percent change, year over year:", + "| | Year Ended December 31,|\n| | 2005| 2004| % Change 2005/2004| 2003| % Change 2004/2003|\n| | (Dollars in thousands)|\n|Compensation and benefits|$163,590|$153,897|6.3%|$121,653|26.5%|\n|Professional services|28,729|17,068|68.3|13,677|24.8|\n|Net occupancy|16,210|18,134|-10.6|17,638|2.8|\n|Furniture and equipment|12,824|12,403|3.4|11,289|9.9|\n|Business development and travel|10,647|9,718|9.6|8,692|11.8|\n|Correspondent bank fees|5,530|5,340|3.6|4,343|23.0|\n|Data processing services|4,105|3,647|12.6|4,288|-14.9|\n|Telephone|3,703|3,367|10.0|3,187|5.6|\n|Postage and supplies|3,075|3,255|-5.5|2,601|25.1|\n|Tax credit fund amortization|2,388|2,480|-3.7|2,704|-8.3|\n|Impairment of goodwill|\u2014|1,910|-100.0|63,000|-97.0|\n|Provision for unfunded credit commitments|927|1,549|-45.4|2,504|-38.1|\n|Trust preferred securities distributions|\u2014|\u2014|\u2014|1,595|-100.0|\n|Other|8,132|9,062|-9.4|7,725|17.3|\n|Total noninterest expense|$259,860|$241,830|7.5%|$264,896|-8.7%|\n", + "2005 Compared to 2004\u2014Increases in Professional Services and Compensation and Benefits Expense The increase in compensation and benefits expense of $9.7 million was partly due to an increase in salaries and wages expense of $4.2 million, or 5.2%, to $85.0 million for 2005, compared to $80.9 million for 2004.", + "The increase in salaries and wages is largely attributable to an increase in average full-time equivalent (FTE) personnel and higher rates of employee salaries and wages.", + "Average FTE personnel increased by 31 to 1,029 in 2005 from 998 in 2004.", + "Equity-based compensation increased by $3.6 million, or 105.1%, to $7.1 million for 2005, compared to $3.5 million for 2004.", + "This increase reflects our increased use of restricted stock and restricted stock units, in lieu of stock options, as components of our employee compensation structure, as we transition our equity-based compensation programs.", + "Professional service expense totaled $28.7 million for 2005, an increase of $11.7 million as compared to $17.1 million for 2004.", + "The primary components of this net increase were associated with the commitment of resources to amend and restate our Form 10-K for the year ended December 31, 2004, the commitment of resources to document, enhance and audit internal controls to accomplish and adhere to the provisions of the Sarbanes-Oxley Act of 2002 and the independent audit of our internal controls, and expenses associated with certain Information Technology (\u201cIT\u201d) development projects.", + "We expect our IT development project costs to increase in 2006.", + "Net occupancy expense decreased between 2005 and 2004.", + "We renegotiated the lease related to our corporate headquarters facility in Santa Clara, California, The term of the new corporate headquarters lease began retroactively on August 1, 2004, and will end on September 30, 2014, unless terminated on an earlier date.", + "Based on the new lease terms, our corporate headquarters lease expense is lower than under our previous lease arrangement.2004 Compared to 2003\u2014Decrease in Impairment of Goodwill, Increases in Compensation and Benefits and Professional Services Expense The increase in compensation and benefits expense of $32.2 million was primarily due to an increase in incentive compensation expense of $17.5 million, or 108.1 %, to $33.7 million during 2004, compared to $16.2 million during 2003.", + "Incentive compensation at SVB Alliant increased $6.9 million and was driven by" + ], + "question_id": "simplong-test-243", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growing rate of Total Forward Hedged Revenues in 2019?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE HERSHEY COMPANY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) The 2006 charges (credits) relating to previous business realignment initiatives which began in 2003 and 2001 resulted from the finalization of the sale of certain properties, adjustments to liabilities which had previously been recorded, and the impact of the settlement of litigation in connection with the 2003 business realignment initiatives.", + "Liabilities Associated with Business Realignment Initiatives The liability balance as of December 31, 2008 relating to the 2007 business realignment initiatives was $31.0 million for employee separation costs to be paid primarily in 2009.", + "The liability balance as of December 31, 2007 was $68.4 million, primarily related to employee separation costs.", + "Charges for employee separation and contract termination costs of $12.9 million were recorded in 2008.", + "During 2008 and 2007, we made payments against the liabilities recorded for the 2007 business realignment initiatives of $46.9 million and $13.2 million, respectively, principally related to employee separation and project administration.", + "The liability balance as of December 31, 2008 was reduced by $3.4 million as a result of foreign currency translation adjustments.4.", + "COMMITMENTS AND CONTINGENCIES We enter into certain obligations for the purchase of raw materials.", + "These obligations are primarily in the form of forward contracts for the purchase of raw materials from third-party brokers and dealers.", + "These contracts minimize the effect of future price fluctuations by fixing the price of part or all of these purchase obligations.", + "Total obligations for each year consisted of fixed price contracts for the purchase of commodities and unpriced contracts that were valued using market prices as of December 31, 2008.", + "The cost of commodities associated with the unpriced contracts is variable as market prices change over future periods.", + "We mitigate the variability of these costs to the extent that we have entered into commodities futures and options contracts to hedge our costs for those periods.", + "Increases or decreases in market prices are offset by gains or losses on commodities futures contracts.", + "Taking delivery of and making payments for the specific commodities for use in the manufacture of finished goods satisfies our obligations under the forward purchase contracts.", + "For each of the three years in the period ended December 31, 2008, we satisfied these obligations by taking delivery of and making payment for the specific commodities.", + "As of December 31, 2008, we had entered into purchase agreements with various suppliers.", + "Subject to meeting our Company\u2019s quality standards, the purchase obligations covered by these agreements were as follows as of December 31, 2008:", + "| Obligations| 2009| 2010| 2011| 2012|\n| In millions of dollars|||||\n|Purchase obligations|$1,103.4|$492.4|$122.1|$84.9|\n", + "We have commitments under various operating leases.", + "Future minimum payments under non-cancelable operating leases with a remaining term in excess of one year were as follows as of December 31, 2008:", + "| Lease Commitments| 2009| 2010| 2011| 2012| 2013| Thereafter|\n| In millions of dollars|||||||\n|Future minimum rental payments|$14.9|$11.2|$8.9|$8.0|$4.3|$13.9|\n", + "Our Company has a number of facilities that contain varying amounts of asbestos in certain locations within the facilities.", + "Our asbestos management program is compliant with current applicable regulations.", + "Current regulations require that we handle or dispose of this type of asbestos in a special manner if such facilities undergo major renovations or are demolished.", + "We believe we do not have sufficient information to estimate the", + "Commercial Operations Overview NRG seeks to maximize profitability and manage cash flow volatility through the marketing, trading and sale of energy, capacity and ancillary services into spot, intermediate and long-term markets and through the active management and trading of emissions allowances, fuel supplies and transportation-related services.", + "The Company's principal objectives are the realization of the full market value of its asset base, including the capture of its extrinsic value, the management and mitigation of commodity market risk and the reduction of cash flow volatility over time.", + "NRG enters into power sales and hedging arrangements via a wide range of products and contracts, including PPAs, fuel supply contracts, capacity auctions, natural gas derivative instruments and other financial instruments.", + "In addition, because changes in power prices in the markets where NRG operates are generally correlated to changes in natural gas prices, NRG uses hedging strategies that may include power and natural gas forward sales contracts to manage the commodity price risk primarily associated with the Company's coal and nuclear generation assets.", + "The objective of these hedging strategies is to stabilize the cash flow generated by NRG's portfolio of assets.", + "NRG also trades electric power, natural gas and related commodity and financial products, including forwards, futures, options and swaps, through its ownership of BETM, which is also an energy management service provider for primarily third\u0002party generating assets.", + "Certain other NRG entities trade to a lesser extent, utilizing similar products as well as oil and weather products.", + "The Company seeks to generate profits from volatility in the price of electricity, capacity, fuels and transmission congestion by buying and selling contracts in wholesale markets under guidelines approved by the Company's risk management committee.", + "Coal and Nuclear Operations The following table summarizes NRG's U. S. coal and nuclear capacity and the corresponding revenues and average natural gas prices and positions resulting from coal and nuclear hedge agreements extending beyond December 31, 2015, and through 2019 for the Company's Gulf Coast region:", + "|Gulf Coast|2016|2017|2018|2019|AnnualAverage for2016-2019|\n||(Dollars in millions unless otherwise stated)|\n|Net Coal and Nuclear Capacity (MW)(a)|6,290|6,290|6,290|6,290|6,290|\n|Forecasted Coal and Nuclear Capacity (MW)(b)|4,843|4,850|4,692|4,881|4,817|\n|Total Coal and Nuclear Sales (MW)(c)|5,108|2,017|1,171|1,018|2,329|\n|Percentage Coal and Nuclear Capacity Sold Forward(d)|105%|42%|25%|21%|48%|\n|Total Forward Hedged Revenues(e)|$1,876|$716|$470|$446||\n|Weighted Average Hedged Price ($ per MWh)(e)|$41.80|$40.54|$45.84|$50.05||\n|Average Equivalent Natural Gas Price ($ per MMBtu)(e)|$3.51|$3.66|$4.12|$4.43||\n|Gas Price Sensitivity Up $0.50/MMBtu on Coal and Nuclear Units|$-37|$139|$172|$190||\n|Gas Price Sensitivity Down $0.50/MMBtu on Coal and Nuclear Units|$24|$-141|$-157|$-171||\n|Heat Rate Sensitivity Up 1 MMBtu/MWh on Coal and Nuclear Units|$15|$86|$83|$97||\n|Heat Rate Sensitivity Down 1 MMBtu/MWh on Coal and Nuclear Units|$-2|$-77|$-74|$-86||\n", + "(a) Net coal and nuclear capacity represents nominal summer net MW capacity of power generated as adjusted for the Company's ownership position excluding capacity from inactive/mothballed units, see Item 2 - Properties for units scheduled to be deactivated.", + "(b) Forecasted generation dispatch output (MWh) based on forward price curves as of December 31, 2015, which is then divided by number of hours in a given year to arrive at MW capacity.", + "The dispatch takes into account planned and unplanned outage assumptions.", + "(c) Includes amounts under power sales contracts and natural gas hedges.", + "The forward natural gas quantities are reflected in equivalent MWh based on forward market implied heat rate as of December 31, 2015, and then combined with power sales to arrive at equivalent MWh hedged which is then divided by number of hours in a given year to arrive at MW hedged.", + "The coal and nuclear sales include swaps and delta of options sold which is subject to change.", + "For detailed information on the Company's hedging methodology through use of derivative instruments, see discussion in Item 15 - Note 5, Accounting for Derivative Instruments and Hedging Activities, to the Consolidated Financial Statements.", + "Includes inter-segment sales from the Company's wholesale power generation business to the retail business.", + "(d) Percentage hedged is based on total coal and nuclear sales as described in (c) above divided by the forecasted coal and nuclear capacity.", + "(e) Represents U. S. coal and nuclear sales, including energy revenue and demand charges.", + "Interest Expense \u2013 Interest expense increased in 2014 versus 2013 due to an increased weighted\u0002average debt level of $10.8 billion in 2014 from $9.6 billion in 2013, which more than offset the impact of the lower effective interest rate of 5.3% in 2014 versus 5.7% in 2013.", + "Interest expense decreased in 2013 versus 2012 due to a lower effective interest rate of 5.7% in 2013 versus 6.0% in 2012.", + "The increase in the weighted-average debt level to $9.6 billion in 2013 from $9.1 billion in 2012 partially offset the impact of the lower effective interest rate.", + "Income Taxes \u2013 Higher pre-tax income increased income taxes in 2014 compared to 2013.", + "Our effective tax rate for 2014 was 37.9% compared to 37.7% in 2013.", + "Higher pre-tax income increased income taxes in 2013 compared to 2012.", + "Our effective tax rate for 2013 was 37.7% compared to 37.6% in 2012.", + "OTHER OPERATING/PERFORMANCE AND FINANCIAL STATISTICS We report a number of key performance measures weekly to the Association of American Railroads (AAR).", + "We provide this data on our website at www.", + "up.", + "com/investor/aar-stb_reports/index.", + "htm.", + "Operating/Performance Statistics Railroad performance measures are included in the table below:", + "||2014|2013|2012|% Change 2014 v 2013|% Change2013 v 2012|\n|Average train speed (miles per hour)|24.0|26.0|26.5|-8%|-2%|\n|Average terminal dwell time (hours)|30.3|27.1|26.2|12 %|3 %|\n|Gross ton-miles (billions)|1,014.9|949.1|959.3|7 %|-1%|\n|Revenue ton-miles (billions)|549.6|514.3|521.1|7 %|-1%|\n|Operating ratio|63.5|66.1|67.8|-2.6pts|-1.7pts|\n|Employees (average)|47,201|46,445|45,928|2 %|1 %|\n", + "Average Train Speed \u2013 Average train speed is calculated by dividing train miles by hours operated on our main lines between terminals.", + "Average train speed, as reported to the Association of American Railroads, decreased 8% in 2014 versus 2013.", + "The decline was driven by a 7% volume increase, a major infrastructure project in Fort Worth, Texas and inclement weather, including flooding in the Midwest in the second quarter and severe weather conditions in the first quarter that impacted all major U. S. and Canadian railroads.", + "Average train speed decreased 2% in 2013 versus 2012.", + "The decline was driven by severe weather conditions and shifts of traffic to sections of our network with higher utilization.", + "Average Terminal Dwell Time \u2013 Average terminal dwell time is the average time that a rail car spends at our terminals.", + "Lower average terminal dwell time improves asset utilization and service.", + "Average terminal dwell time increased 12% in 2014 compared to 2013, caused by higher volumes and inclement weather.", + "Average terminal dwell time increased 3% in 2013 compared to 2012, primarily due to growth of manifest traffic which requires more time in terminals for switching cars and building trains.", + "Gross and Revenue Ton-Miles \u2013 Gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled.", + "Revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles.", + "Gross ton-miles, revenue ton-miles and carloadings all increased 7% in 2014 compared to 2013.", + "Gross ton-miles and revenue ton-miles declined 1% in 2013 compared to 2012 and carloads remained relatively flat driven by declines in coal and agricultural products offset by growth in chemical, autos and industrial products.", + "Changes in commodity mix drove the year-over-year variances between gross ton\u0002miles, revenue ton-miles and carloads.", + "The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions):", + "||For the Years Ended December 31,|\n||2017|2016|2015|\n|Balance at January 1|$649.3|$591.9|$321.7|\n|Increases related to business combinations|70.2|70.2|247.6|\n|Increases related to prior periods|172.8|36.7|1.3|\n|Decreases related to prior periods|-262.2|-94.7|-|\n|Increases related to current period|24.8|53.0|25.7|\n|Decreases related to settlements with taxingauthorities|-21.7|-3.2|-1.4|\n|Decreases related to lapse of statute of limitations|-6.4|-4.6|-3.0|\n|Balance at December 31|$626.8|$649.3|$591.9|\n|Amounts impacting effective tax rate, if recognizedbalance at December 31|$499.6|$511.5|$443.7|\n", + "We recognize accrued interest and penalties related to unrecognized tax benefits as income tax expense.", + "During 2017, we released interest and penalties of $38.3 million, and as of December 31, 2017, had a recognized liability for interest and penalties of $75.7 million, which included an increase of $3.0 million from December 31, 2016 related to business combinations.", + "During 2016, we accrued interest and penalties of $19.3 million, and as of December 31, 2016, had recognized a liability for interest and penalties of $110.8 million, which included an $8.6 million increase from December 31, 2015 related to the Biomet merger.", + "During 2015, we accrued interest and penalties of $4.8 million, and as of December 31, 2015, had recognized a liability for interest and penalties of $82.9 million, which included an increase of $29.8 million from December 31, 2014 related to the Biomet merger.", + "We operate on a global basis and are subject to numerous and complex tax laws and regulations.", + "Additionally, tax laws have and continue to undergo rapid changes in both application and interpretation by various countries, including state aid interpretations and the Organization for Economic Cooperation and Development led initiatives.", + "Our income tax filings are subject to examinations by taxing authorities throughout the world.", + "Income tax audits may require an extended period of time to reach resolution and may result in significant income tax adjustments when interpretation of tax laws or allocation of company profits is disputed.", + "Although ultimate timing is uncertain, the net amount of tax liability for unrecognized tax benefits may change within the next twelve months due to changes in audit status, expiration of statutes of limitations, settlements of tax assessments and other events.", + "Management\u2019s best estimate of such change is within the range of a $115 million decrease to a $25 million increase.", + "Our U. S. Federal income tax returns have been audited through 2009 and are currently under audit for years 2010- 2015.", + "The IRS has proposed adjustments for years 2005-2012, reallocating profits between certain of our U. S. and foreign subsidiaries.", + "We have disputed these adjustments and intend to continue to vigorously defend our positions.", + "For years 2005- 2007, we have filed a petition with the U. S. Tax Court.", + "For years 2008-2009, we are pursuing resolution through the IRS Administrative Appeals Process.", + "State income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return.", + "The state impact of any federal changes generally remains subject to examination by various states for a period of up to one year after formal notification to the states.", + "We have various state income tax return positions in the process of examination, administrative appeals or litigation.", + "In other major jurisdictions, open years are generally 2009 or later.16.", + "Capital Stock and Earnings per Share We are authorized to issue 250.0 million shares of preferred stock, none of which were issued or outstanding as of December 31, 2017.", + "The numerator for both basic and diluted earnings per share is net earnings available to common stockholders.", + "The denominator for basic earnings per share is the weighted average number of common shares outstanding during the period.", + "The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards.", + "The following is a reconciliation of weighted average shares for the basic and diluted share computations (in millions):" + ], + "question_id": "simplong-test-244", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In terms of Carrying Value,how much of Liabilities is there in total in 2007 without Deposits and Other borrowings?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The fair value of financial instruments whose estimated fair values were different from their carrying values is summarized below (dollars in thousands)", + "|| December 31, 2007| December 31, 2006|\n|| Carrying Value| Fair Value| Carrying Value| Fair Value|\n|Assets:|||||\n|Loans, net|$30,139,382|$29,415,679|$26,656,193|$26,416,079|\n|Liabilities:|||||\n|Deposits|$25,884,755|$25,864,725|$24,071,012|$23,320,015|\n|Securities sold under agreements to repurchase|$8,932,693|$8,937,647|$9,792,422|$9,809,313|\n|Other borrowings|$7,446,504|$7,495,949|$5,323,962|$5,345,326|\n|Corporate debt|$3,002,698|$2,800,758|$1,842,169|$1,996,560|\n", + "?", + "Loans, net\u2014For loans held-for sale, fair value is estimated using quoted market prices for securities backed by similar types of loans, dealer rate sheets and dealer commitments to purchase loans.", + "The carrying value of closed loans held-for-sale designated in fair value hedge relationships approximates fair value.", + "For the held-for-investment portfolio, including one- to four-family, home equity, recreational vehicle, marine and auto loans, fair value is estimated by differentiating loans based on their individual characteristics, such as product classification, loan category, pricing features and remaining maturity.", + "Management adjusts assumptions for expected losses, prepayments and discount rates to reflect the individual characteristics of the loans, such as credit risk, coupon, term, and payment characteristics, as well as the secondary market conditions for these types of loans.", + "For commercial and credit card loans, fair value is estimated based on both individual and portfolio characteristics and recent market transactions. ?", + "Deposits\u2014For sweep deposit accounts, money market and savings accounts and checking accounts, fair value is the amount payable on demand at the reporting date.", + "For certificates of deposit and brokered certificates of deposits, fair value is estimated by discounting future cash flows at the currently offered rates for deposits of similar remaining maturities. ?", + "Securities sold under agreements to repurchase\u2014Fair value is determined by discounting future cash flows at the rate implied for other similar instruments with similar remaining maturities. ?", + "Other borrowings\u2014For FHLB advances, fair value is estimated by discounting future cash flows at the currently offered rates for borrowings of similar remaining maturities.", + "For trust preferred stock, fair value is estimated by discounting future cash flows at the rate implied by dealer pricing quotes for other similar instruments, adjusting the price to reflect differences between the securities, such as credit risk, liquidity, term coupon, payment characteristics and other information.", + "For margin collateral, overnight and other short-term borrowings and collateralized borrowings, fair value is estimated to be carrying value. ?", + "Corporate debt\u2014Fair value is estimated using quoted market prices or dealer pricing quotes.", + "In the normal course of business, the Company makes various commitments to extend credit and incur contingent liabilities that are not reflected in the consolidated balance sheet.", + "Significant changes in the economy or interest rates influence the impact that these commitments and contingencies have on the Company in the future.", + "Information related to such commitments and contingent liabilities is detailed in Note 23\u2014Commitments, Contingencies and Other Regulatory Matter", + "ITEM 2.", + "PROPERTIES A summary of our significant locations at December 31, 2007 is shown in the following table.", + "All facilities are leased, except for 166,000 square feet of our office in Alpharetta, Georgia.", + "Square footage amounts are net of space that has been sublet or part of a facility restructuring.", + "|Location|Approximate Square Footage|\n|Alpharetta, Georgia|219,000|\n|Arlington, Virginia|196,000|\n|Jersey City, New Jersey|107,000|\n|Charlotte, North Carolina|83,000|\n|Menlo Park, California|79,000|\n|Sandy, Utah|77,000|\n|Toronto, Canada|75,000|\n|New York, New York|60,000|\n|Chicago, Illinois|29,000|\n", + "All of our facilities are used by both our retail and institutional segments.", + "In addition to the significant facilities above, we also lease all of our 27 E*TRADE Financial Branches, ranging in space from 2,500 to 13,000 square feet.", + "All other leased facilities with space of less than 25,000 square feet are not listed by location.", + "We believe our facilities space is adequate to meet our needs in 2008.", + "ITEM 3.", + "LEGAL PROCEEDINGS In June 2002, the Company acquired from MarketXT Holdings, Inc. (formerly known as \u201cTradescape Corporation\u201d) the following entities: Tradescape Securities, LLC; Tradescape Technologies, LLC; and Momentum Securities, LLC.", + "Disputes subsequently arose between the parties regarding the responsibility for liabilities that first became known to the Company after the sale.", + "On April 8, 2004, MarketXT filed a complaint in the United States District Court for the Southern District of New York against the Company, certain of its officers and directors, and other third parties, including Softbank Investment Corporation (\u201cSBI\u201d) and Softbank Corporation, alleging that defendants were preventing plaintiffs from obtaining certain contingent payments allegedly due, and as a result, claiming damages of $1.5 billion.", + "On April 9, 2004, the Company filed a complaint in the United States District Court for the Southern District of New York against certain directors and officers of MarketXT seeking declaratory relief and unspecified monetary damages for defendants\u2019 fraud in connection with the 2002 sale, including, but not limited to, having presented the Company with fraudulent financial statements regarding the condition of Momentum Securities, LLC during the due diligence process.", + "Subsequently, MarketXT was placed into bankruptcy, and the Company filed an adversary proceeding against MarketXT and others in January 2005, seeking declaratory relief, compensatory and punitive damages, in those Chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of New York entitled, \u201cIn re MarketXT Holdings Corp. , Debtor.", + "\u201d In that same court, the Company filed a separate adversary proceeding against Omar Amanat in those Chapter 7 bankruptcy proceedings entitled, \u201cIn re Amanat, Omar Shariff.", + "\u201d In October 2005, MarketXT answered the Company\u2019s adversary proceeding and asserted its counterclaims, subsequently amending its claims in 2006 to add a $326.0 million claim for \u201cpromissory estoppel\u201d in which Market XT alleged, for the first time, that the Company breached a prior promise to purchase the acquired entities in 1999-2000.", + "In April 2006, Omar Amanat answered the Company\u2019s separate adversary proceeding against him and asserted his counterclaims.", + "In separate motions before the Bankruptcy Court, the Company has moved to dismiss certain counterclaims brought by MarketXT including those described above, as well as certain counterclaims brought by Mr. Amanat.", + "In a ruling dated September 29, 2006, the Bankruptcy Court in the MarketXT case granted the Company\u2019s motion to dismiss four of the six bases upon which MarketXT asserts its fraud claims against the Company; its conversion claim; and its demand for punitive damages.", + "In the same ruling, the Bankruptcy Court denied in its entirety MarketXT\u2019s competing motion to dismiss the Company\u2019s claims against it.", + "On October 26, 2006, the Bankruptcy Court subsequently dismissed MarketXT\u2019s \u201cpromissory estoppel\u201d claim.", + "By order dated December 18, 2007, the United States Bankruptcy", + "Balance Sheet Highlights (dollars in billions)", + "||December 31,|Variance 2007 vs. 2006|\n||2007|2006|\n|Total assets|$56.8|$53.7|6%|\n|Total enterprise interest-earning assets|$52.3|$49.5|6%|\n|Loans, net and margin receivables as a percentage of enterprise interest-earning assets-1|71%|68%|3%|\n|Retail deposits and customer payables as a percentage of enterprise interest-bearing liabilities-1|61%|64%|-3%|\n", + "(1) Loans, net and margin receivables as a percentage of enterprise interest-earning assets and retail deposits and customer payables as a percentage of enterprise interest-bearing liabilities include balances not recorded on the balance sheet, such as margin and customer cash and deposits held by third parties.", + "The increase in total assets was attributable primarily to an increase of $3.7 billion in loans receivable, net.", + "The increase in loans receivable, net was due principally to growth in our one- to four-family loan portfolio during the first and second quarters of 2007.", + "Beginning in the second half of 2007, we altered our strategy and halted our previous focus on growing our balance sheet.", + "For the foreseeable future, we plan to allow our interest earning assets, particularly our mortgage-backed securities and home equity loans, to pay down, resulting in an overall decline in balance.", + "During this period, we plan to increase our excess regulatory capital levels at E*TRADE Bank as we focus on mitigating the credit risk inherent in our home equity loan portfolio.", + "In connection with this strategy and the Citadel Investment, we have updated our secondary market purchase policies to prohibit the acquisition of asset-backed securities, CDOs and certain other instruments with a high level of credit risk through January 1, 2010.", + "EARNINGS OVERVIEW 2007 Compared to 2006 Net income (loss) decreased 329% to a loss of $1.4 billion for the year ended December 31, 2007 compared to 2006.", + "The decrease in net income for the year ended December 31, 2007 was due principally to the $2.2 billion loss on the sale of our asset-backed securities portfolio and an increase in our provision for loan losses of $595.1 million to $640.1 million.", + "These losses in our institutional segment more than offset the increase in our retail segment income, which increased $94.0 million to $789.3 million for the year ended December 31, 2007 compared to 2006.", + "We report corporate interest income and corporate interest expense separately from operating interest income and operating interest expense.", + "We believe reporting these two items separately provides a clearer picture of the financial performance of our operations than would a presentation that combined these two items.", + "Our operating interest income and operating interest expense is generated from the operations of the Company and is a broad indicator of our success in our banking, lending and balance sheet management businesses.", + "Our corporate debt, which is the primary source of our corporate interest expense, has been issued primarily in connection with the Citadel Investment and acquisitions, such as Harrisdirect and BrownCo.", + "Similarly, we report gain (loss) on sales of investments, net separately from gain (loss) on loans and securities, net.", + "We believe reporting these two items separately provides a clearer picture of the financial performance of our operations than would a presentation that combined these two items.", + "Gain (loss) on loans and securities, net are the result of activities in our operations, namely our lending and balance sheet management businesses, including impairment on our available-for sale mortgage-backed and investment securities portfolio.", + "Gain (loss) on sales of investments, net relates to historical equity investments of the Company at the corporate level and are not related to the ongoing business of our operating subsidiaries.", + "LIQUIDITY AND CAPITAL RESOURCES We have established liquidity and capital policies to support the successful execution of our business strategies, while ensuring ongoing and sufficient liquidity through the business cycle.", + "These policies are especially important during periods of stress in the financial markets, which have been ongoing since the fourth quarter of 2007.", + "We believe liquidity is of critical importance to the Company and especially important within E*TRADE Bank.", + "The objective of our policies is to ensure that we can meet our corporate and banking liquidity needs under both normal operating conditions and under periods of stress in the financial markets.", + "Our corporate liquidity needs are primarily driven by the amount of principal and interest due on our corporate debt as well as any capital needs at E*TRADE Bank.", + "Our banking liquidity needs are driven primarily by the level and volatility of our customer deposits.", + "Management maintains an extensive set of liquidity sources and monitors certain business trends and market metrics closely in an effort to ensure we have sufficient liquidity and to avoid dependence on other more expensive sources of funding.", + "Management believes the following sources of liquidity are of critical importance in maintaining ample funding for liquidity needs: Corporate cash, Bank cash, deposits and unused FHLB borrowing capacity.", + "Management believes that within deposits, sweep deposits are of particular importance as they are the most stable source of liquidity for E*TRADE Bank when compared to non-sweep deposits.", + "Overall, management believes that these liquidity sources, which can fluctuate in any given period, are more than sufficient to meet our needs for the foreseeable future.", + "Capital is generated primarily through the business operations of the trading and investing and balance sheet management segments, which are primarily contained within E*TRADE Bank; therefore, we believe a key indicator of the capital generated or used in our business operations is the level of regulatory capital in E*TRADE Bank.", + "As of December 31, 2012, E*TRADE Bank\u2019s Tier 1 leverage ratio was 8.7%, an increase from 7.8% at December 31, 2011.", + "We are focused on improving the Tier 1 leverage ratio at E*TRADE Bank through deleveraging the balance sheet by a reduction in wholesale borrowings, retail deposits and customer payables.", + "We submitted an initial long-term strategic and capital plan to the OCC and Federal Reserve during the second quarter of 2012.", + "The plan included: our five-year business strategy; forecasts of our business results and capital ratios; capital distribution plans in current and adverse operating conditions; and internally developed stress tests.", + "During the third quarter of 2012, we received initial feedback from our regulators on this plan and we believe that key elements of this plan, specifically reducing risk, deleveraging the balance sheet and the development of an enterprise risk management function, are critical.", + "We submitted an updated long-term strategic and capital plan to the OCC and Federal Reserve in February 2013, which included the key elements outlined in the initial plan as well as the progress made during 2012 on those key elements.", + "We believe that our targets for capital levels at E*TRADE Bank and corresponding distributions of capital from E*TRADE Bank and its subsidiaries to the parent company will be achievable over time.", + "We plan to continue an active and ongoing dialogue with our regulators to ensure our execution of the plan is consistent with their expectations.", + "Consolidated Cash and Equivalents The consolidated cash and equivalents balance increased by $661.7 million to $2.8 billion at December 31, 2012 when compared to 2011.", + "The majority of this balance is cash held in regulated subsidiaries, primarily the Bank, outlined as follows (dollars in millions):" + ], + "question_id": "simplong-test-245", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Exercise of stock options of Shares reach in 2006 if it continues to grow at its 2005 rate? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Effective January 1, 2006, we will adopt 123R using the modified prospective approach.", + "The modified prospective approach requires the recognition of compensation cost for share-based awards based on the grant\u0002date fair value from the beginning for the fiscal period in which the provisions of 123R are first applied.", + "Measurement and recognition of compensation costs for share-based awards granted prior to, but not yet vested as of, the date 123R is adopted are based on the same method used previously under SFAS 123.", + "Share-based awards granted, modified, or settled after 123R is adopted, will be measured and recognized in the financial statements in accordance with the provisions of 123R.", + "We have used the Black-Scholes model to calculate the fair value of options under 123 and intend to continue to utilize this model to compute the fair value of options under 123R.", + "Upon the adoption of 123R, we expect to recognize a cumulative effect of change in accounting principle which will increase net income by approximately $2 million.", + "This cumulative effect is related to certain performance shares issued to certain officers and employees in 2002 and 2003 that were required to be adjusted to fair value at each reporting date under APB No.25, because the ultimate number of these shares that will vest is dependent on the achievement of certain performance targets.", + "Under 123R, these performance awards are accounted for based on their grant-date fair value and are not adjusted to fair value at each reporting date.", + "While there are certain differences between 123 and 123R, we believe that our pro forma disclosures under 123 approximate the effect of 123R.", + "Other than the cumulative effect of adoption discussed above, we do not believe that the adoption of 123R will have a material impact on our financial position or results of operations.", + "Property Acquisitions and Dispositions A summary of our significant acquisitions in 2005 and 2004 is as follows:", + "| Date| Property| City, State| Gross Leasable Area| Purchase Price||\n||| (In square feet)| (In millions)| Year ended December 31, 2005||\n|||March 1|Assembly Sq./Sturtevant St.|Somerville, MA 228,000 Year ended December 31, 2004|\n|551,000|$66.4|December 29|Crow Canyon Commons|San Ramon, CA|\n|$47.5|||||\n||||March 31|\n|Westgate Mall|San Jose, CA|637,000|$97.0||\n", + "Generally, our acquisitions are initially financed by available cash and borrowings under our revolving credit facility which may be repaid later with funds raised through the issuance of new equity or new long-term debt.", + "Additionally, on December 29, 2005, we assumed a $22.3 million mortgage in connection with the acquisition of Crow Canyon Commons, as discussed further below.", + "The Assembly Square/Sturtevant Street acquisition includes a 332,000 square foot enclosed mall in the City of Somerville, Massachusetts, for which the redevelopment into a power center is nearly complete, and an adjacent ten-acre 220,000 square foot retail/industrial complex.", + "As of December 31, 2005, we have invested a total of $103.4 million in the property, and we expect to invest approximately $3.5 million more to complete the redevelopment of the power center.", + "The acquisition of Assembly Square also included zoning entitlements to add four mixed-use buildings on 3.5 acres, which could include approximately 41,000 square feet of retail space, 51,000 square feet of office space and 239 residential units.", + "The acquisition also included an option to purchase adjacent land parcels, all of which are zoned for dense, mixed-use development.", + "We expect that we will structure any future development of Assembly Square in a manner designed to mitigate our risk which may include selling entitlements or co-developing with other real estate companies.", + "Federal Realty Investment Trust CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS\u2019 EQUITY", + "|| Year Ended December 31,|\n||2005| 2004| 2003|\n||Shares|Amount|Additional Paid-in Capital|Shares|Amount| Additional Paid-in Capital|Shares|Amount| Additional Paid-in Capital|\n|| (In thousands, except share data)|\n|Common shares||||||||||\n|Balance, beginning of year|53,616,827|$536|$1,108,213|50,670,851|$507|$980,227|44,996,382|$450|$818,290|\n|Exercise of stock options|409,920|4|10,947|348,888|3|8,586|2,124,869|21|50,749|\n|Shares issued under dividend reinvestment plan|62,579|1|3,424|82,391|1|3,439|109,835|1|3,541|\n|Performance and restricted shares granted, net of restricted shares retired|78,591|1|4,061|84,617|1|3,632|138,568|1|3,960|\n|Reclassification for preferred stock redemption|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|3,423|\n|Issuance of shares in public offering|\u2014|\u2014|\u2014|2,186,749|22|99,011|3,236,245|33|98,368|\n|Conversion and redemption of OP units|203,140|2|-12,806|203,130|2|8,686|64,952|1|1,896|\n|Shares issued to purchase partnership interests|\u2014|\u2014|\u2014|40,201|\u2014|1,862|\u2014|\u2014|\u2014|\n|Stock compensation associated with variable accounting|\u2014|\u2014|893|\u2014|\u2014|2,770|\u2014|\u2014|\u2014|\n|Balance, end of year|54,371,057|$544|$1,114,732|53,616,827|$536|$1,108,213|50,670,851|$507|$980,227|\n|Accumulated dividends in excess of net income||||||||||\n|Balance, beginning of year||$-416,026|||$-386,738|||$-368,839||\n|Net income||114,612|||84,156|||94,497||\n|Dividends declared to common shareholders||-124,928|||-101,969|||-93,889||\n|Preferred share dividends and redemption costs||-11,475|||-11,475|||-18,507||\n|Balance, end of year||$-437,817|||$-416,026|||$-386,738||\n|Treasury shares||||||||||\n|Balance, beginning of year|-1,480,202|$-28,786||-1,470,275|$-28,445||-1,461,147|$-28,193||\n|Performance and restricted shares forfeited|-158|-8||-9,927|-341||-9,128|-252||\n|Balance, end of year|-1,480,360|$-28,794||-1,480,202|$-28,786||-1,470,275|$-28,445||\n|Deferred compensation on restricted shares||||||||||\n|Balance, beginning of year|-226,904|$-8,641||-220,666|$-5,474||-153,993|$-2,657||\n|Performance and restricted shares issued, net of forfeitures|-67,517|-3,494||-72,166|-3,099||-118,400|-3,371||\n|Vesting of performance and restricted shares|87,889|2,431||65,928|-68||51,727|554||\n|Balance, end of year|-206,532|$-9,704||-226,904|$-8,641||-220,666|$-5,474||\n|Notes receivable from issuance of common shares||||||||||\n|Balance, beginning of year|-112,712|$-2,083||-156,274|$-3,615||-184,063|$-5,151||\n|Loans issued|\u2014|\u2014||-16,899|-411||-87,641|-1,999||\n|Loans paid|26,339|291||60,461|1,943||115,430|3,535||\n|Balance, end of year|-86,373|$-1,792||-112,712|$-2,083||-156,274|$-3,615||\n|Accumulated other comprehensive income (loss)||||||||||\n|Balance, beginning of year||$2,321|||$-87|||$-4,613||\n|Adjustments to unrealized gains (losses) on securities||60|||27|||-92||\n|Adjustments to unrealized gains on interest rate swaps||297|||2,381|||3,563||\n|Loss on interest rate hedge transaction||\u2014|||\u2014|||1,055||\n|Balance, end of year||$2,678|||$2,321|||$-87||\n|Comprehensive income||||||||||\n|Net income||$114,612|||$84,156|||$94,497||\n|Adjustments to unrealized gains (losses) on securities||60|||27|||-92||\n|Adjustments to unrealized gains on interest rate swaps||297|||2,381|||3,563||\n|Termination of interest rate swap||\u2014|||\u2014|||1,055||\n|Total comprehensive income||$114,909|||$86,564|||$99,023||\n", + "The accompanying notes are an integral part of these consolidated statements.", + "We currently believe that cash flows from operations, cash on hand, our ATM equity program, our revolving credit facility and our general ability to access the capital markets will be sufficient to finance our operations and fund our debt service requirements and capital expenditures.", + "Our overall capital requirements during 2015 will depend upon acquisition opportunities, the level of improvements and redevelopments on existing properties and the timing and cost of development of Assembly Row, Pike & Rose and future phases of Santana Row.", + "While the amount of future expenditures will depend on numerous factors, we expect to continue to see higher levels of capital investments in our properties under development and redevelopment in 2015 which is the result of the continued development at both Assembly Row and Pike & Rose with openings of portions of both projects in 2015, the commencement of construction on Phase II of Pike & Rose, and the current phase of Santana Row.", + "With respect to other capital investments related to our existing properties, we expect to incur levels consistent with prior years.", + "Our capital investments will be funded on a short-term basis with cash flow from operations, cash on hand and/or our revolving credit facility, and on a long-term basis, with long-term debt or equity including shares issued under our ATM equity program.", + "If necessary, we may access the debt or equity capital markets to finance significant acquisitions.", + "Given our past ability to access the capital markets, we expect debt or equity to be available to us.", + "Although there is no intent at this time, if market conditions deteriorate, we may also delay the timing of certain development and redevelopment projects as well as limit future acquisitions, reduce our operating expenditures, or re-evaluate our dividend policy.", + "In addition to conditions in the capital markets which could affect our ability to access those markets, the following factors could affect our ability to meet our liquidity requirements: ?", + "restrictions in our debt instruments or preferred shares may limit us from incurring debt or issuing equity at all, or on acceptable terms under then-prevailing market conditions; and ?", + "we may be unable to service additional or replacement debt due to increases in interest rates or a decline in our operating performance.", + "Summary of Cash Flows", + "||Year Ended December 31,|\n||2014|2013|\n||(In thousands)|\n|Cash provided by operating activities|$346,130|$314,498|\n|Cash used in investing activities|-396,150|-345,198|\n|Cash provided by financing activities|9,044|82,639|\n|(Decrease) increase in cash and cash equivalents|-40,976|51,939|\n|Cash and cash equivalents, beginning of year|88,927|36,988|\n|Cash and cash equivalents, end of year|$47,951|$88,927|\n", + "Net cash provided by operating activities increased $31.6 million to $346.1 million during 2014 from $314.5 million during 2013.", + "The increase was primarily attributable to higher net income before certain non-cash items.", + "Net cash used in investing activities increased $51.0 million to $396.2 million during 2014 from $345.2 million during 2013.", + "The increase was primarily attributable to: ?", + "$93.7 million increase in capital investments and leasing costs in 2014 primarily related to our development projects at Assembly Row and Pike & Rose, ?", + "$42.9 million in proceeds from the sale of real estate in 2013, and ?", + "$6.7 million contribution to our real estate partnership to repay the mortgage loans of two of its properties, partially offset by ?", + "$78.1 million decrease in acquisitions of real estate, ?", + "$10.4 million in distributions from our real estate partnership from the sale of Pleasant Shops in July 2014, and ?", + "$3.6 million received from the payoff of a mortgage loan receivable in July 2014.", + "Consolidated gold sales are expected to increase to approximately 495,000 to 530,000 ounces in 2008 mainly due to the processing of higher grade material.", + "Costs applicable to sales of approximately $485 to $520 per ounce is expected for 2008.", + "The expected increase is mainly due to higher fuel, power, contract services and consumable costs.", + "During 2007, Newmont and other gold companies with production in Ghana, formed a consortium to import power generation equipment and constructed an 80 mega-watt power plant.", + "The plant was completed during the fourth quarter of 2007 and is being commissioned.", + "As a result of the mining industry\u2019s initiative to install the power plant, the Ghanaian government has agreed, if required to curtail power consumption as a result of power shortages, to distribute power proportionately between participating mines and other industrial and commercial customers.", + "Other Operations", + "|| Gold Ounces Sold| Costs Applicable to Sales-1| Depreciation, Depletion and Amortization|\n|| 2007| 2006| 2005| 2007| 2006| 2005| 2007| 2006| 2005|\n|| (in thousands)| ($ per ounce)| ($ per ounce)|\n|Kori Kollo-2(88% owned)|87|129|95|$340|$210|$167|$117|$68|$40|\n|La Herradura (44% owned)|86|79|80|341|248|184|77|114|63|\n|Golden Giant|12|59|162|205|214|296|\u2014|10|67|\n|Total/Weighted-Average|185|267|337|$332|$222|$233|$91|$69|$58|\n", + "(1) Excludes depreciation, depletion and amortization and loss on settlement of price-capped forward sales contracts.", + "(2) Consolidated gold ounces sold includes minority interests\u2019 share.", + "Gold ounces sold at Other Operations decreased in 2007 from 2006, primarily due to the completion of operations at Golden Giant and lower production from Kori Kollo.", + "Gold production from Kori Kollo decreased due to the timing of flows from the leach pads.", + "Costs applicable to sales per ounce increased in 2007 from 2006, primarily due to lower production and higher waste removal costs at La Herradura and the completion of operations at Golden Giant.", + "Gold ounces sold at Other Operations decreased in 2006 from 2005, primarily due to the wind-up of operations at Golden Giant.", + "Mining operations at Golden Giant were completed in December 2005 with remnant mining and milling production continuing into 2006.", + "Costs applicable to sales decreased primarily due to the processing of lower cost remnant production from Golden Giant offset by higher waste removal costs at Kori Kollo and La Herradura.", + "In 2005, $3 mining costs were deferred, reducing Costs applicable to sales by $31 per ounce at La Herradura.", + "Consolidated gold sales for Other Operations in 2008 are expected to be approximately 200,000 to 220,000 ounces at Costs applicable to sales of approximately $340 to $360 per ounce.", + "Exploration Exploration expense was $177, $166 and $143 for 2007, 2006 and 2005, respectively.", + "Exploration expense in 2007 reflects higher funding of exploration and related activities in response to higher gold prices and increased drilling, labor and consumable costs.", + "We anticipate spending between $220 and $230 on exploration activities in 2008, with the increases primarily related to inflation in drilling costs and exploration at our newly acquired Hope Bay property.", + "During 2007, we added 0.8 million equity gold ounces to proven and probable reserves, with 8.2 million equity gold ounces of depletion and divestitures.", + "Reserve additions from exploration of 3.5 million equity ounces were primarily due to further extension drilling at Boddington, Jundee and Tanami in Australia (2.6 million equity ounces), with the remaining additions from several open pit and underground sites in Nevada as well as La", + "PART I ITEM 1. BUSINESS (dollars in millions, except per share, per ounce and per pound amounts) Introduction Newmont Mining Corporation is primarily a gold producer with significant operations and/or assets in the United States, Australia, Peru, Ghana and Suriname.", + "At December 31, 2016, Newmont had attributable proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles (59,000 square kilometers).", + "Newmont is also engaged in the production of copper, principally through Boddington in Australia and Phoenix in the United States.", + "Newmont Mining Corporation\u2019s original predecessor corporation was incorporated in 1921 under the laws of Delaware.", + "On November 2, 2016, Newmont completed the sale of its 48.5% economic interest in PT Newmont Nusa Tenggara (\u201cPTNNT\u201d), which operated the Batu Hijau copper and gold mine (\u201cBatu Hijau\u201d) in Indonesia (the \u201cBatu Hijau Transaction\u201d).", + "As a result, Newmont presents Batu Hijau as a discontinued operation for all periods presented.", + "In the following discussion, we present and discuss our continuing operations unless otherwise indicated.", + "For additional information regarding our discontinued operations, see Note 3 to the Consolidated Financial Statements and the discussion in our Results of Consolidated Operations in Item 7.", + "Newmont\u2019s corporate headquarters are in Greenwood Village, Colorado, USA.", + "In this report, \u201cNewmont,\u201d the \u201cCompany,\u201d \u201cour\u201d and \u201cwe\u201d refer to Newmont Mining Corporation together with our affiliates and subsidiaries, unless the context otherwise requires.", + "References to \u201cA$\u201d refer to Australian currency.", + "Newmont\u2019s Sales and long-lived assets for continuing operations are geographically distributed as follows:", + "||Sales|Long-Lived Assets|\n||2016|2015|2014|2016|2015|2014|\n|United States|39%|33%|30%|45%|43%|38%|\n|Australia|32%|32%|30%|19%|18%|19%|\n|Ghana|15%|15%|17%|16%|16%|17%|\n|Peru|12%|18%|18%|14%|19%|23%|\n|Suriname|2%|\u2014%|\u2014%|6%|4%|2%|\n|Other|\u2014%|2%|5%|\u2014%|\u2014%|1%|\n", + "Segment Information Our regions include North America, South America, Asia Pacific, and Africa.", + "Our North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in the state of Nevada and Cripple Creek &Victor (\u201cCC&V\u201d) in the state of Colorado, in the United States.", + "Our South America segment consists primarily of Yanacocha in Peru and Merian in Suriname.", + "Our Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia.", + "Our Africa segment consists primarily of Ahafo and Akyem in Ghana.", + "See Item 1A, Risk Factors, below, and Note 5 to the Consolidated Financial Statements for information relating to our operating segments, domestic and export sales and lack of dependence on a limited number of customers.", + "Products References in this report to \u201cattributable gold ounces\u201d or \u201cattributable copper pounds\u201d mean that portion of gold or copper produced, sold or included in proven and probable reserves based on our proportionate ownership, unless otherwise noted.", + "Gold General.", + "We had consolidated gold production from continuing operations of 5.2 million ounces (4.9 million attributable ounces) in 2016, 5.0 million ounces (4.6 million attributable ounces) in 2015 and 5.2 million ounces (4.7 million attributable ounces) in 2014.", + "Of our 2016 consolidated gold production, approximately 39% came from North America, 14% from South America, 31% from Asia Pacific and 16% from Africa.", + "For 2016, 2015 and 2014, 96%, 95% and 95%, respectively, of our Sales were attributable to gold.", + "Most of our Sales come from the sale of refined gold.", + "The end product at our gold operations, however, is generally dor\u00e9 bars.", + "Dor\u00e9 is an alloy consisting primarily of gold but also containing silver and other metals.", + "Dor\u00e9 is sent to refiners to produce bullion that meets the required markett standard", + "Operating Statistics The following tables detail operating statistics related to gold production, ounces sold and production costs per ounce of our continuing operations:", + "||North America|South America 2018||\n|Years Ended December 31,|2018|2017|2016|2017|2016|\n|Tons mined (000 dry short tons):|||||||\n|Open pit|230,558|252,086|218,411|99,793|104,763|104,713|\n|Underground|3,024|2,979|2,864|\u2014|\u2014|\u2014|\n|Tons processed (000 dry short tons):|||||||\n|Mill|25,879|25,406|25,941|21,666|20,690|9,006|\n|Leach|46,034|55,289|45,109|25,405|24,082|30,639|\n|Average ore grade (oz/ton):|||||||\n|Mill|0.075|0.077|0.074|0.042|0.043|0.063|\n|Leach|0.017|0.020|0.019|0.013|0.013|0.012|\n|Average mill recovery rate|76.7%|76.9%|78.5%|88.0%|87.2%|79.4%|\n|Ounces produced -000:|||||||\n|Mill|1,453|1,485|1,501|802|752|434|\n|Leach|604|726|523|247|296|325|\n|Consolidated|2,057|2,211|2,024|1,049|1,048|759|\n|Attributable|2,057|2,211|2,024|671|660|414|\n|Consolidated ounces sold -000|2,052|2,204|1,990|1,060|1,046|736|\n|Production costs per ounce sold:-1|||||||\n|Direct mining and production costs|$753|$706|$729|$593|$639|$737|\n|By-product credits|-8|-9|-11|-19|-17|-11|\n|Royalties and production taxes|12|10|15|53|54|38|\n|Write-downs and inventory change|2|5|-34|33|33|-5|\n|Costs applicable to sales|759|712|699|660|709|759|\n|Depreciation and amortization|238|244|207|201|229|404|\n|Reclamation accretion|6|6|6|24|45|36|\n|Total production costs|$1,003|$962|$912|$885|$983|$1,199|\n|All-in sustaining costs per ounce sold-2|$928|$876|$854|$804|$870|$932|\n", + "Years Ended December 31,", + "||Australia|Africa 2018||\n|Years Ended December 31,|2018|2017|2016|2017|2016|\n|Tons mined (000 dry short tons):|||||||\n|Open pit|103,192|114,371|126,619|71,970|74,580|75,048|\n|Underground|3,202|3,144|3,279|1,339|279|\u2014|\n|Tons milled (000 dry short tons)|54,337|52,802|51,606|15,585|16,884|17,289|\n|Average ore grade (oz/ton)|0.032|0.035|0.037|0.058|0.053|0.052|\n|Average mill recovery rate|87.4%|86.1%|86.4%|92.6%|92.3%|91.1%|\n|Ounces produced -000:|||||||\n|Mill|1,523|1,573|1,641|850|822|819|\n|Consolidated|1,523|1,573|1,641|850|822|819|\n|Consolidated ounces sold -000|1,553|1,558|1,624|851|824|822|\n|Production costs per ounce sold:-1|||||||\n|Direct mining and production costs|$681|$673|$605|$592|$573|$553|\n|By-product credits|-7|-8|-7|-2|-2|-2|\n|Royalties and production taxes|32|32|32|55|51|50|\n|Write-downs and inventory change|3|-25|\u2014|\u2014|33|65|\n|Costs applicable to sales|709|672|630|645|655|666|\n|Depreciation and amortization|133|134|135|301|277|271|\n|Reclamation accretion|8|7|7|9|9|7|\n|Total production costs|$850|$813|$772|$955|$941|$944|\n|All-in sustaining costs per ounce sold-2|$845|$806|$777|$794|$785|$795|\n", + "Table of Contents The following performance graph is not \u201csoliciting material,\u201d is not deemed filed with the SEC, and is not to be incorporated by reference into any of Valero\u2019s 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, 2006 and ending December 31, 2011." + ], + "question_id": "simplong-test-246", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Noninterest income in 2010 and Interest payments-7 of Thereafter for Payments due by? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table 7 Five Year Summary of Selected Financial Data", + "|Table 7|Five Year Summary of Selected Financial Data||||||\n|(In millions, except per share information)|2011|2010|2009|2008|2007|\n|Income statement||||||\n|Net interest income|$44,616|$51,523|$47,109|$45,360|$34,441|\n|Noninterest income|48,838|58,697|72,534|27,422|32,392|\n|Total revenue, net of interest expense|93,454|110,220|119,643|72,782|66,833|\n|Provision for credit losses|13,410|28,435|48,570|26,825|8,385|\n|Goodwill impairment|3,184|12,400|\u2014|\u2014|\u2014|\n|Merger and restructuring charges|638|1,820|2,721|935|410|\n|All other noninterest expense-1|76,452|68,888|63,992|40,594|37,114|\n|Income (loss) before income taxes|-230|-1,323|4,360|4,428|20,924|\n|Income tax expense (benefit)|-1,676|915|-1,916|420|5,942|\n|Net income (loss)|1,446|-2,238|6,276|4,008|14,982|\n|Net income (loss) applicable to common shareholders|85|-3,595|-2,204|2,556|14,800|\n|Average common shares issued and outstanding|10,143|9,790|7,729|4,592|4,424|\n|Average diluted common shares issued and outstanding-2|10,255|9,790|7,729|4,596|4,463|\n|Performance ratios||||||\n|Return on average assets|0.06%|n/m|0.26%|0.22%|0.94%|\n|Return on average common shareholders\u2019 equity|0.04|n/m|n/m|1.80|11.08|\n|Return on average tangible common shareholders\u2019 equity-3|0.06|n/m|n/m|4.72|26.19|\n|Return on average tangible shareholders\u2019 equity-3|0.96|n/m|4.18|5.19|25.13|\n|Total ending equity to total ending assets|10.81|10.08%|10.38|9.74|8.56|\n|Total average equity to total average assets|9.98|9.56|10.01|8.94|8.53|\n|Dividend payout|n/m|n/m|n/m|n/m|72.26|\n|Per common share data||||||\n|Earnings (loss)|$0.01|$-0.37|$-0.29|$0.54|$3.32|\n|Diluted earnings (loss)(2)|0.01|-0.37|-0.29|0.54|3.29|\n|Dividends paid|0.04|0.04|0.04|2.24|2.40|\n|Book value|20.09|20.99|21.48|27.77|32.09|\n|Tangible book value-3|12.95|12.98|11.94|10.11|12.71|\n|Market price per share of common stock||||||\n|Closing|$5.56|$13.34|$15.06|$14.08|$41.26|\n|High closing|15.25|19.48|18.59|45.03|54.05|\n|Low closing|4.99|10.95|3.14|11.25|41.10|\n|Market capitalization|$58,580|$134,536|$130,273|$70,645|$183,107|\n|Average balance sheet||||||\n|Total loans and leases|$938,096|$958,331|$948,805|$910,871|$776,154|\n|Total assets|2,296,322|2,439,606|2,443,068|1,843,985|1,602,073|\n|Total deposits|1,035,802|988,586|980,966|831,157|717,182|\n|Long-term debt|421,229|490,497|446,634|231,235|169,855|\n|Common shareholders\u2019 equity|211,709|212,686|182,288|141,638|133,555|\n|Total shareholders\u2019 equity|229,095|233,235|244,645|164,831|136,662|\n|Asset quality-4||||||\n|Allowance for credit losses-5|$34,497|$43,073|$38,687|$23,492|$12,106|\n|Nonperforming loans, leases and foreclosed properties-6|27,708|32,664|35,747|18,212|5,948|\n|Allowance for loan and lease losses as a percentage of total loans and leases outstanding-6|3.68%|4.47%|4.16%|2.49%|1.33%|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases-6|135|136|111|141|207|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leasesexcluding the PCI loan portfolio-6|101|116|99|136|n/a|\n|Amounts included in allowance that are excluded from nonperforming loans-7|$17,490|$22,908|$17,690|$11,679|$6,520|\n|Allowances as a percentage of total nonperforming loans and leases excluding the amountsincluded in the allowance that are excluded from nonperforming loans-7|65%|62%|58%|70%|91%|\n|Net charge-offs|$20,833|$34,334|$33,688|$16,231|$6,480|\n|Net charge-offs as a percentage of average loans and leases outstanding-6|2.24%|3.60%|3.58%|1.79%|0.84%|\n|Nonperforming loans and leases as a percentage of total loans and leases outstanding-6|2.74|3.27|3.75|1.77|0.64|\n|Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leasesand foreclosed properties-6|3.01|3.48|3.98|1.96|0.68|\n|Ratio of the allowance for loan and lease losses at December 31 to net charge-offs|1.62|1.22|1.10|1.42|1.79|\n|Capital ratios (year end)||||||\n|Risk-based capital:||||||\n|Tier 1 common|9.86%|8.60%|7.81%|4.80%|4.93%|\n|Tier 1|12.40|11.24|10.40|9.15|6.87|\n|Total|16.75|15.77|14.66|13.00|11.02|\n|Tier 1 leverage|7.53|7.21|6.88|6.44|5.04|\n|Tangible equity-3|7.54|6.75|6.40|5.11|3.73|\n|Tangible common equity-3|6.64|5.99|5.56|2.93|3.46|\n", + "(1) Excludes merger and restructuring charges and goodwill impairment charges.", + "(2) Due to a net loss applicable to common shareholders for 2010 and 2009, the impact of antidilutive equity instruments was excluded from diluted earnings (loss) per share and average diluted common shares.", + "(3) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "Other companies may define or calculate these measures differently.", + "For additional information on these ratios and corresponding reconciliations to GAAP financial measures, see Supplemental Financial Data on page 32 and Table XV.", + "(4) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 75 and Commercial Portfolio Credit Risk Management on page 88.", + "(5) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(6) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions on nonperforming loans, leases and foreclosed properties, see Nonperforming Consumer Loans and Foreclosed Properties Activity on page 86 and corresponding Table 36 and Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 94 and corresponding Table 45.", + "(7) Amounts included in allowance that are excluded from nonperforming loans primarily include amounts allocated to Card Services portfolios, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "n/m = not meaningful n/a = not applicable", + "During the twelve months ended December 31, 2017, 2016 and 2015, we paid cash dividends to Equifax shareholders of $187.4 million, $157.6 million and $137.8 million, respectively, at $1.56 per share for 2017, $1.32 per share for 2016 and $1.16 per share for 2015.", + "We anticipate continuing the payment of quarterly cash dividends.", + "The actual amount of such dividends is subject to declaration by our Board of Directors and will depend upon future earnings, results of operations, capital requirements, our financial condition and other relevant factors.", + "There can be no assurance that the Company will continue to pay quarterly cash dividends at current levels or at all.", + "Contractual Obligations and Commercial Commitments The following table summarizes our significant contractual obligations and commitments as of December 31, 2017.", + "The table excludes commitments that are contingent based on events or factors uncertain at this time.", + "Some of the excluded commitments are discussed below the footnotes to the table.", + "||Payments due by|\n||Total|Less than 1 year|1 to 3 years|3 to 5 years|Thereafter|\n||(In millions)|\n|Debt (including capitalized lease obligation)(1)|$2,715.3|$965.3|$100.0|$1,000.0|$650.0|\n|Operating leases-2|150.0|27.3|38.9|28.6|55.2|\n|Data processing, outsourcing agreements and other purchase obligations-3|157.1|85.4|41.3|14.0|16.4|\n|Other long-term liabilities-4 (5)|143.2|9.1|18.1|18.9|97.1|\n|Product liability related to cybersecurity incident-6|27.1|27.1|\u2014|\u2014|\u2014|\n|Interest payments-7|647.3|75.4|131.2|108.9|331.8|\n||$3,840.0|$1,189.6|$329.5|$1,170.4|$1,150.5|\n", + "(1) The amounts are gross of unamortized discounts totaling $11.0 million at December 31, 2017.", + "Total debt on our Consolidated Balance Sheets is net of the unamortized discounts and fair value adjustments.", + "There were no fair value adjustments to our debt at December 31, 2017.", + "(2) Our operating lease obligations principally involve office space and equipment, which include the ground lease associated with our headquarters building that expires in 2048.", + "(3) These agreements primarily represent our minimum contractual obligations for services that we outsource associated with our computer data processing operations and related functions, and certain administrative functions.", + "These agreements expire between 2018 and 2022.", + "(4) These long-term liabilities primarily relate to obligations associated with certain pension, postretirement and other compensation-related plans, some of which are discounted in accordance with U. S. generally accepted accounting principles, or GAAP.", + "We made certain assumptions about the timing of such future payments.", + "In the table above, we have not included amounts related to future pension plan obligations, as such required funding amounts beyond 2018 have not been deemed necessary due to our current expectations regarding future plan asset performance.", + "(5) This table excludes $38.0 million of unrecognized tax benefits, including interest and penalties, as we cannot make a reasonably reliable estimate of the period of cash settlement with the respective taxing authorities.", + "(6) As a result of the cybersecurity incident, we offered free credit file monitoring and identity theft protection to all U. S. consumers.", + "We have recorded the expenses necessary to provide this service to those who signed up by the January 31, 2018 deadline.", + "The amount above represents the remaining obligation associated with these expenses.", + "(7) For future interest payments on variable-rate debt, which are generally based on a specified margin plus a base rate (LIBOR) or on CP, the Revolver and Term Loan rates for investment grade issuers, we used the variable rate in effect at December 31, 2017 to calculate these payments.", + "Our variable rate debt at December 31, 2017, consisted of CP, the", + "Entergy Corporation and Subsidiaries Notes to Financial Statements equitable discretion and not require refunds for the 20-month period from September 13, 2001 - May 2, 2003.", + "Because the ruling on refunds relied on findings in the interruptible load proceeding, which is discussed in a separate section below, the FERC concluded that the refund ruling will be held in abeyance pending the outcome of the rehearing requests in that proceeding.", + "On the second issue, the FERC reversed its prior decision and ordered that the prospective bandwidth remedy begin on June 1, 2005 (the date of its initial order in the proceeding) rather than January 1, 2006, as it had previously ordered.", + "Pursuant to the October 2011 order, Entergy was required to calculate the additional bandwidth payments for the period June - December 2005 utilizing the bandwidth formula tariff prescribed by the FERC that was filed in a December 2006 compliance filing and accepted by the FERC in an April 2007 order.", + "As is the case with bandwidth remedy payments, these payments and receipts will ultimately be paid by Utility operating company customers to other Utility operating company customers.", + "In December 2011, Entergy filed with the FERC its compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC\u2019s October 2011 order.", + "The filing shows the following payments/receipts among the Utility operating companies:", + "||Payments(Receipts) (In Millions)|\n|Entergy Arkansas|$156|\n|Entergy Gulf States Louisiana|-$75|\n|Entergy Louisiana|$\u2014|\n|Entergy Mississippi|-$33|\n|Entergy New Orleans|-$5|\n|Entergy Texas|-$43|\n", + "Entergy Arkansas made its payment in January 2012.", + "In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million payment be collected from customers over the 22-month period from March 2012 through December 2013.", + "In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund.", + "The LPSC and the APSC have requested rehearing of the FERC\u2019s October 2011 order.", + "In December 2013 the LPSC filed a petition for a writ of mandamus at the United States Court of Appeals for the D. C. Circuit.", + "In its petition, the LPSC requested that the D. C. Circuit issue an order compelling the FERC to issue a final order on pending rehearing requests.", + "In its response to the LPSC petition, the FERC committed to rule on the pending rehearing request before the end of February.", + "In January 2014 the D. C. Circuit denied the LPSC's petition.", + "The APSC, the LPSC, the PUCT, and other parties intervened in the December 2011 compliance filing proceeding, and the APSC and the LPSC also filed protests.", + "Calendar Year 2013 Production Costs The liabilities and assets for the preliminary estimate of the payments and receipts required to implement the FERC\u2019s remedy based on calendar year 2013 production costs were recorded in December 2013, based on certain year-to-date information.", + "The preliminary estimate was recorded based on the following estimate of the payments/receipts among the Utility operating companies for 2014.", + "competition are rent charged, attractiveness of location, the quality of the property and breadth and quality of services provided.", + "Our success depends upon, among other factors, trends of the national, regional and local economies, financial condition and operating results of current and prospective tenants and customers, availability and cost of capital, construction and renovation costs, taxes, governmental regulations, legislation and population trends.", + "We may incur costs to comply with environmental laws.", + "Our operations and properties are subject to various federal, state and local laws and regulations concerning the protection of the environment, including air and water quality, hazardous or toxic substances and health and safety.", + "Under some environ\u0002mental laws, a current or previous owner or operator of real estate may be required to investigate and clean up hazardous or toxic substances released at a property.", + "The owner or operator may also be held liable to a governmental entity or to third par\u0002ties for property damage or personal injuries and for investigation and clean-up costs incurred by those parties because of the contamination.", + "These laws often impose liability without regard to whether the owner or operator knew of the release of the substances or caused the release.", + "The presence of contamination or the failure to remediate contamination may impair our ability to sell or lease real estate or to borrow using the real estate as collateral.", + "Other laws and regulations govern indoor and outdoor air quality including those that can require the abatement or removal of asbestos-containing materials in the event of damage, demolition, renovation or remodeling and also govern emissions of and exposure to asbestos fibers in the air.", + "The maintenance and removal of lead paint and certain electrical equipment containing polychlorinated biphenyls (PCBs) and underground storage tanks are also regulated by federal and state laws.", + "We are also subject to risks associated with human exposure to chemical or biological contaminants such as molds, pollens, viruses and bacteria which, above certain levels, can be alleged to be connected to allergic or other health effects and symptoms in susceptible individuals.", + "We could incur fines for environmental compliance and be held liable for the costs of remedial action with respect to the foregoing regulated sub\u0002stances or tanks or related claims arising out of environmental contamination or human exposure at or from our properties.", + "Each of our properties has been subjected to varying degrees of environmental assessment.", + "The environmental assessments did not, as of this date, reveal any environmental condition material to our business.", + "However, identification of new compliance concerns or undiscovered areas of contamination, changes in the extent or known scope of contamination, discovery of addi\u0002tional sites, human exposure to the contamination or changes in cleanup or compliance requirements could result in significant costs to us.", + "Some of our potential losses may not be covered by insurance.", + "We carry commercial liability and all risk property insurance ((i) fire, (ii) flood, (iii) extended coverage, (iv) \u201cacts of terrorism\u201d as defined in the Terrorism Risk Insurance Extension Act of 2005, which expires in 2007 and (v) rental loss insurance) with respect to our assets.", + "Below is a summary of the current all risk property insurance and terrorism risk insurance in effect through September 2007 for each of the following business segments:" + ], + "question_id": "simplong-test-247", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much of the firm-sponsored qspes that hold asf framework loans are serviced by the firm?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JPMorgan Chase & Co. 132 JPMorgan Chase & Co. / 2007 Annual Report The Firm\u2019s policy for issuing shares upon settlement of employee share-based payment awards is to issue either new shares of common stock or treasury shares.", + "On April 17, 2007, the Board of Directors approved a stock repurchase program that authorizes the repurchase of up to $10.0 billion of the Firm\u2019s common shares, which super\u0002sedes an $8.0 billion stock repurchase program approved in 2006.", + "The $10.0 billion authorization includes shares to be repurchased to offset issuances under the Firm\u2019s employee stock-based plans.", + "During 2007, the Firm settled all of its employee stock-based awards by issuing treasury shares.", + "In December 2005, the Firm accelerated the vesting of approximately 41 million unvested, out-of-the-money employee stock options grant\u0002ed in 2001 under the Growth and Performance Incentive Program, which were scheduled to vest in January 2007.", + "These options were not modified other than to accelerate vesting.", + "The related expense was approximately $145 million, and was recognized as compensa\u0002tion expense in the fourth quarter of 2005.", + "The Firm believed that at the time the options were accelerated they had limited economic value since the exercise price of the accelerated options was $51.22 and the closing price of the Firm\u2019s common stock on the effective date of the acceleration was $39.69.", + "RSU activity Compensation expense for RSUs is measured based upon the num\u0002ber of shares granted multiplied by the stock price at the grant date, and is recognized in Net income as previously described.", + "The follow\u0002ing table summarizes JPMorgan Chase\u2019s RSU activity for 2007.", + "Year ended December 31, 2007", + "|(in thousands, exceptweighted-average data)|Number of options/SARs|Weighted-average exercise price|Weighted-average remaining contractual life (in years)|Aggregate intrinsic value|\n|Outstanding, January 1|376,227#|$ 40.31|||\n|Granted|21,446|46.65|||\n|Exercised|-64,453|34.73|||\n|Forfeited|-1,410|40.13|||\n|Canceled|-5,879|48.10|||\n| Outstanding, December 31|325,931#|$ 41.70|4.0|$1,601,780|\n|Exercisable, December 31|281,327|41.44|3.2|1,497,992|\n", + "The total fair value of shares that vested during the years ended December 31, 2007, 2006 and 2005, was $1.5 billion, $1.3 billion and $1.1 billion, respectively.", + "Employee stock option and SARs activity Compensation expense, which is measured at the grant date as the fair value of employee stock options and SARs, is recognized in Net income as described above.", + "The following table summarizes JPMorgan Chase\u2019s employee stock option and SARs activity for the year ended December 31, 2007, includ\u0002ing awards granted to key employees and awards granted in prior years under broad-based plans.", + "|(in thousands, except weighted average data)|Number of Shares|Weighted- average grant date fair value|\n|Outstanding, January 1|88,456#|$ 38.50|\n|Granted|47,608|48.29|\n|Vested|-30,925|38.09|\n|Forfeited|-6,122|42.56|\n| Outstanding, December 31|99,017#|$ 43.11|\n", + "The weighted-average grant date per share fair value of stock options and SARs granted during the years ended December 31, 2007, 2006 and 2005, was $13.38, $10.99 and $10.44, respectively.", + "The total intrinsic value of options exercised during the years ended December 31, 2007, 2006 and 2005 was $937 million, $994 million and $364 million, respectively.", + "Subprime adjustable-rate mortgage loan modifications See the Glossary of Terms on page 183 of this Annual Report for the Firm\u2019s definition of subprime loans.", + "Within the confines of the limited decision-making abilities of a QSPE under SFAS 140, the operating doc\u0002uments that govern existing subprime securitizations generally authorize the servicer to modify loans for which default is reasonably foreseeable, provided that the modification is in the best interests of the QSPE\u2019s ben\u0002eficial interest holders, and would not result in a REMIC violation.", + "In December 2007, the American Securitization Forum (\u201cASF\u201d) issued the \u201cStreamlined Foreclosure and Loss Avoidance Framework for Securitized Subprime Adjustable Rate Mortgage Loans\u201d (\u201cthe Framework\u201d).", + "The Framework provides guidance for servicers to stream\u0002line evaluation procedures for borrowers with certain subprime adjustable rate mortgage (\u201cARM\u201d) loans to more efficiently provide modifications of such loans with terms that are more appropriate for the individual needs of such borrowers.", + "The Framework applies to all first-lien subprime ARM loans that have a fixed rate of interest for an initial period of 36 months or less, are included in securitized pools, were originated between January 1, 2005, and July 31, 2007, and have an initial interest rate reset date between January 1, 2008, and July 31, 2010 (\u201cASF Framework Loans\u201d).", + "The Framework categorizes the population of ASF Framework Loans into three segments.", + "Segment 1 includes loans where the borrower is current and is likely to be able to refinance into any available mortgage product.", + "Segment 2 includes loans where the borrower is current, is unlikely to be able to refinance into any readily available mortgage industry product and meets certain defined criteria.", + "Segment 3 includes loans where the borrower is not current, as defined, and does not meet the criteria for Segments 1 or 2.", + "ASF Framework Loans in Segment 2 of the Framework are eligible for fast-track modification under which the interest rate will be kept at the existing initial rate, generally for five years following the interest rate reset date.", + "The Framework indicates that for Segment 2 loans, JPMorgan Chase, as servicer, may presume that the borrower will be unable to make payments pursuant to the original terms of the borrower\u2019s loan after the initial interest rate reset date.", + "Thus, the Firm may presume that a default on that loan by the borrower is reasonably foreseeable unless the terms of the loan are modified.", + "JPMorgan Chase has adopted the loss mitigation approaches under the Framework for securitized sub\u0002prime loans that meet the specific Segment 2 screening criteria, and it expects to begin modifying Segment 2 loans by the end of the first quar\u0002ter of 2008.", + "The Firm believes that the adoption of the Framework will not affect the off-balance sheet accounting treatment of JPMorgan Chase-sponsored QSPEs that hold Segment 2 subprime loans.", + "The total amount of assets owned by Firm-sponsored QSPEs that hold ASF Framework Loans (including those loans that are not serviced by the Firm) as of December 31, 2007, was $20.0 billion.", + "Of this amount, $9.7 billion relates to ASF Framework Loans serviced by the Firm.", + "Based on current economic conditions, the Firm estimates that approximately 20%, 10% and 70% of the ASF Framework Loans it services that are owned by Firm-sponsored QSPEs will fall within Segments 1, 2 and 3, respectively.", + "This estimate could change substantially as a result of unanticipated changes in housing values, economic conditions, investor/borrower behavior and other factors.", + "The total principal amount of beneficial interests issued by Firm-spon\u0002sored securitizations that hold ASF Framework Loans as of December 31, 2007, was as follows.", + "|December 31, 2007(in millions)|2007|\n|Third-party|$19,636|\n|Retained interest|412|\n|Total|$20,048|\n", + "The Firm regularly evaluates market conditions and overall economic returns and makes an initial determination of whether new origina\u0002tions will be held-for-investment or sold within the foreseeable future.", + "The Firm also periodically evaluates the expected economic returns of previously originated loans under prevailing market conditions to deter\u0002mine whether their designation as held-for-sale or held-for-investment continues to be appropriate.", + "When the Firm determines that a change in this designation is appropriate, the loans are transferred to the appropriate classification.", + "During the third and fourth quarters of 2007, in response to changes in market conditions, the Firm designat\u0002ed as held-for-investment all new originations of subprime mortgage loans, as well as subprime mortgage loans that were previously desig\u0002nated held-for-sale.", + "In addition, all new prime mortgage originations that cannot be sold to U. S. government agencies and U. S. govern\u0002ment-sponsored enterprises have been designated as held-for-invest\u0002ment.", + "Prime mortgage loans originated with the intent to sell are accounted for at fair value under SFAS 159 and are classified as Trading assets in the Consolidated Balance Sheets.", + "The following discussion relates to the specific loan and lending\u0002related categories within the consumer portfolio.", + "Home equity: Home equity loans at December 31, 2007, were $94.8 billion, an increase of $9.1 billion from year-end 2006.", + "The change in the portfolio from December 31, 2006, reflected organic growth.", + "The Provision for credit losses for the Home equity portfolio includes net increases of $1.0 billion to the Allowance for loan losses for the year ended December 31, 2007, as risk layered loans, contin\u0002ued weak housing prices and slowing economic growth have resulted in a significant increase in nonperforming assets and estimated losses, especially with respect to recently originated high loan-to-value loans in specific geographic regions that have experienced significant declines in housing prices.", + "The decline in housing prices and the sec\u0002ond lien position for these types of loans results in minimal proceeds upon foreclosure, increasing the severity of losses.", + "Although subprime Home equity loans do not represent a significant portion of the Home equity loan balance, the origination of subprime home equity loans was discontinued in the third quarter of 2007.", + "In addition, loss miti\u0002gation activities continue to be intensified, underwriting standards have been tightened and pricing actions have been implemented to reflect elevated risks related to the home equity portfolio.", + "The following tables present the geographic distribution of consumer credit outstandings by product as of December 31, 2007 and 2006.", + "Consumer loans by geographic region", + "| December 31, 2007 (in billions) |Home equity|Mortgage|Auto|Card reported|All other loans|Total consumer loans\u2013reported|Card securitized|Total consumer loans\u2013managed|\n| Top 12 states|||||||||\n|California|$14.9|$13.4|$5.0|$11.0|$1.0|$45.3|$9.6|$54.9|\n|New York|14.4|8.0|3.6|6.6|4.2|36.8|5.6|42.4|\n|Texas|6.1|2.0|3.7|5.8|3.5|21.1|5.4|26.5|\n|Florida|5.3|6.4|1.6|4.7|0.5|18.5|4.2|22.7|\n|Illinois|6.7|3.0|2.2|4.5|1.9|18.3|3.9|22.2|\n|Ohio|4.9|1.0|2.9|3.3|2.6|14.7|3.1|17.8|\n|New Jersey|4.4|2.2|1.7|3.3|0.5|12.1|3.1|15.2|\n|Michigan|3.7|1.6|1.3|2.9|2.3|11.8|2.5|14.3|\n|Arizona|5.7|1.5|1.8|1.7|1.8|12.5|1.4|13.9|\n|Pennsylvania|1.6|0.9|1.7|3.2|0.5|7.9|2.9|10.8|\n|Colorado|2.3|1.3|1.0|2.0|0.8|7.4|1.7|9.1|\n|Indiana|2.4|0.6|1.2|1.8|1.1|7.1|1.5|8.6|\n|All other|22.4|14.1|14.7|33.6|8.0|92.8|27.8|120.6|\n| Total|$94.8|$56.0|$42.4|$84.4|$28.7|$306.3|$72.7|$379.0|\n" + ], + "question_id": "simplong-test-248", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "Without Management and financial advice fees and Distribution fees, how much of Revenues is there in total in 2009? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Certain property fund limited partnerships that the Company consolidates have floating rate revolving credit borrowings of $381 million as of December 31, 2009.", + "Certain Threadneedle subsidiaries guarantee the repayment of outstanding borrowings up to the value of the assets of the partnerships.", + "The debt is secured by the assets of the partnerships and there is no recourse to Ameriprise Financial.24.", + "Earnings per Share Attributable to Ameriprise Financial Common Shareholders The computations of basic and diluted earnings (loss) per share attributable to Ameriprise Financial common shareholders are as follows:", + "| | Years Ended December 31,|\n| | 2009|2008| 2007|\n| | (in millions, except per share amounts) |\n| Numerator:||||\n|Net income (loss) attributable to Ameriprise Financial|$722|$-38|$814|\n| Denominator:||||\n|Basic: Weighted-average common shares outstanding|242.2|222.3|236.2|\n|Effect of potentially dilutive nonqualified stock options and other share-based awards|2.2|2.6|3.7|\n|Diluted: Weighted-average common shares outstanding|244.4|224.9|239.9|\n| Earnings (loss) per share attributable to Ameriprise Financial common shareholders:||||\n|Basic|$2.98|$-0.17|$3.45|\n|Diluted|$2.95|$-0.17 (1)|$3.39|\n", + "(1) Diluted shares used in this calculation represent basic shares due to the net loss.", + "Using actual diluted shares would result in anti-dilution.", + "Basic weighted average common shares for the years ended December 31, 2009, 2008 and 2007 included 3.4 million, 2.1 million and 1.6 million, respectively, of vested, nonforfeitable restricted stock units and 4.6 million, 3.1 million and 3.5 million, respectively, of non-vested restricted stock awards and restricted stock units that are forfeitable but receive nonforfeitable dividends.", + "Potentially dilutive securities include nonqualified stock options and other share-based awards.25.", + "Shareholders\u2019 Equity The Company has a share repurchase program in place to return excess capital to shareholders.", + "Since September 2008 through the date of this report, the Company has suspended its stock repurchase program; as a result there were no share repurchases during the year ended December 31, 2009.", + "During the years ended December 31, 2008 and 2007, the Company repurchased a total of 12.7 million and 15.9 million shares, respectively, of its common stock at an average price of $48.26 and $59.59, respectively.", + "As of December 31, 2009, the Company had approximately $1.3 billion remaining under a share repurchase authorization.", + "The Company may also reacquire shares of its common stock under its 2005 ICP and 2008 Plan related to restricted stock awards.", + "Restricted shares that are forfeited before the vesting period has lapsed are recorded as treasury shares.", + "In addition, the holders of restricted shares may elect to surrender a portion of their shares on the vesting date to cover their income tax obligations.", + "These vested restricted shares reacquired by the Company and the Company\u2019s payment of the holders\u2019 income tax obligations are recorded as a treasury share purchase.", + "The restricted shares forfeited and recorded as treasury shares under the 2005 ICP and 2008 Plan were 0.3 million shares in each of the years ended December 31, 2009, 2008 and 2007.", + "For each of the years ended December 31, 2009, 2008 and 2007, the Company reacquired 0.5 million of its common stock through the surrender of restricted shares upon vesting and paid in the aggregate $11 million, $24 million and $29 million, respectively, related to the holders\u2019 income tax obligations on the vesting date.", + "In 2009, the Company issued and sold 36 million shares of its common stock.", + "The proceeds of $869 million will be used for general corporate purposes, including the Company\u2019s pending acquisition of the long-term asset management business of Columbia, which is expected to close in the spring of 2010.", + "See Note 5 for additional information on the Company\u2019s pending acquisition of Columbia.", + "In 2008, the Company reissued 1.8 million treasury shares for restricted stock award grants and the issuance of shares vested under the P2 Deferral Plan and the Transition and Opportunity Bonus (\u2018\u2018T&O Bonus\u2019\u2019) program.", + "In 2005, the Company awarded bonuses to advisors", + "General and administrative expense decreased $15 million, or 7%, to $192 million for the year ended December 31, 2009, primarily due to expense controls.", + "Protection Our Protection segment offers a variety of protection products to address the protection and risk management needs of our retail clients including life, disability income and property-casualty insurance.", + "Life and disability income products are primarily distributed through our branded advisors.", + "Our property-casualty products are sold direct, primarily through affinity relationships.", + "We issue insurance policies through our life insurance subsidiaries and the property casualty companies.", + "The primary sources of revenues for this segment are premiums, fees, and charges that we receive to assume insurance-related risk.", + "We earn net investment income on owned assets supporting insurance reserves and capital supporting the business.", + "We also receive fees based on the level of assets supporting variable universal life separate account balances.", + "This segment earns intersegment revenues from fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource VST Funds under the variable universal life contracts.", + "Intersegment expenses for this segment include distribution expenses for services provided by the Advice & Wealth Management segment, as well as expenses for investment management services provided by the Asset Management segment.", + "The following table presents the results of operations of our Protection segment:", + "| | Years Ended December 31,|||\n| | 2009| 2008|Change|\n| |(in millions, except percentages)|\n| Revenues|||||\n|Management and financial advice fees|$47|$56|$-9|-16%|\n|Distribution fees|97|106|-9|-8|\n|Net investment income|422|252|170|67|\n|Premiums|1,020|994|26|3|\n|Other revenues|386|547|-161|-29|\n|Total revenues|1,972|1,955|17|1|\n|Banking and deposit interest expense|1|1|\u2014|\u2014|\n|Total net revenues|1,971|1,954|17|1|\n| Expenses|||||\n|Distribution expenses|22|18|4|22|\n|Interest credited to fixed accounts|144|144|\u2014|\u2014|\n|Benefits, claims, losses and settlement expenses|924|856|68|8|\n|Amortization of deferred acquisition costs|159|333|-174|-52|\n|General and administrative expense|226|251|-25|-10|\n|Total expenses|1,475|1,602|-127|-8|\n|Pretax income|$496|$352|$144|41%|\n", + "Our Protection segment pretax income was $496 million for 2009, an increase of $144 million, or 41%, from $352 million in 2008.", + "Net revenues Net revenues increased $17 million, or 1%, to $2.0 billion for the year ended December 31, 2009, due to an increase in net investment income and premiums, partially offset by a decrease in other revenues related to updating valuation assumptions.", + "Net investment income increased $170 million, or 67%, to $422 million for the year ended December 31, 2009, primarily due to net realized investment gains of $27 million in 2009 compared to net realized investment losses of $92 million in the prior year primarily related to impairments of Available-for-Sale securities.", + "In addition, investment income earned on fixed maturity securities increased $46 million compared to the prior year driven by higher yields on the longer-term investments in our fixed income investment portfolio.", + "In December, our board of directors ratified its authorization of a stock repurchase program in the amount of 1.5 million shares of our common stock.", + "As of December 31, 2010 no shares had been repurchased.", + "We have paid dividends for 71 consecutive years with payments increasing each of the last 19 years.", + "We paid total dividends of $.54 per share in 2010 compared with $.51 per share in 2009.", + "Aggregate Contractual Obligations A summary of our contractual obligations as of December 31, 2010, is as follows:", + "|(dollars in millions)|Payments due by period|\n|Contractual Obligations|Total|Less Than1 year|1 - 3Years|3 - 5Years|More than5 years|\n|Long-term Debt|$261.0|$18.6|$181.2|$29.2|$32.0|\n|Fixed Rate Interest|22.4|6.1|9.0|5.1|2.2|\n|Operating Leases|30.2|7.2|7.9|5.4|9.7|\n|Purchase Obligations|45.5|45.5|-|-|-|\n|Total|$359.1|$77.4|$198.1|$39.7|$43.9|\n", + "As of December 31, 2010, the liability for uncertain income tax positions was $2.7 million.", + "Due to the high degree of uncertainty regarding timing of potential future cash flows associated with these liabilities, we are unable to make a reasonably reliable estimate of the amount and period in which these liabilities might be paid.", + "We utilize blanket purchase orders to communicate expected annual requirements to many of our suppliers.", + "Requirements under blanket purchase orders generally do not become committed until several weeks prior to the company\u2019s scheduled unit production.", + "The purchase obligation amount presented above represents the value of commitments considered firm.", + "RESULTS OF OPERATIONS Our sales from continuing operations in 2010 were $1,489.3 million surpassing 2009 sales of $1,375.0 million by 8.3 percent.", + "The increase in sales was due mostly to significantly higher sales in our water heater operations in China resulting from geographic expansion, market share gains and new product introductions as well as additional sales from our water treatment business acquired in November, 2009.", + "Our sales from continuing operations were $1,451.3 million in 2008.", + "The $76.3 million decline in sales from 2008 to 2009 was due to lower residential and commercial volume in North America, reflecting softness in the domestic housing market and a slowdown in the commercial water heater business and was partially offset by strong growth in water heater sales in China and improved year over year pricing.", + "On December 13, 2010 we entered into a definitive agreement to sell our Electrical Products Company to Regal Beloit Corporation for $700 million in cash and approximately 2.83 million shares of Regal Beloit common stock.", + "The transaction, which has been approved by both companies' board of directors, is expected to close in the first half of 2011.", + "Due to the pending sale, our Electrical Products segment has been accorded discontinued operations treatment in the accompanying financial statements.", + "Sales in 2010, including sales of $701.8 million for our Electrical Products segment, were $2,191.1 million.", + "Our gross profit margin for continuing operations in 2010 was 29.9 percent, compared with 28.7 percent in 2009 and 25.8 percent in 2008.", + "The improvement in margin from 2009 to 2010 was due to increased volume, cost containment activities and lower warranty costs which more than offset certain inefficiencies resulting from the May flood in our Ashland City, TN water heater manufacturing facility.", + "The increase in profit margin from 2008 to 2009 resulted from increased higher margin China water heater volume, aggressive cost reduction programs and lower material costs.", + "Selling, general and administrative expense (SG&A) was $36.9 million higher in 2010 than in 2009.", + "The increased SG&A, the majority of which was incurred in our China water heater operation, was associated with selling costs to support higher volume and new product lines.", + "Additional SG&A associated with our 2009 water treatment acquisition also contributed to the increase.", + "SG&A was $8.5 million higher in 2009 than 2008 resulting mostly from an $8.2 million increase in our China water heater operation in support of higher volumes." + ], + "question_id": "simplong-test-249", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the section with the most Australia, what is the growth rate of Mill for Australia?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Effective January 1, 2006, we will adopt 123R using the modified prospective approach.", + "The modified prospective approach requires the recognition of compensation cost for share-based awards based on the grant\u0002date fair value from the beginning for the fiscal period in which the provisions of 123R are first applied.", + "Measurement and recognition of compensation costs for share-based awards granted prior to, but not yet vested as of, the date 123R is adopted are based on the same method used previously under SFAS 123.", + "Share-based awards granted, modified, or settled after 123R is adopted, will be measured and recognized in the financial statements in accordance with the provisions of 123R.", + "We have used the Black-Scholes model to calculate the fair value of options under 123 and intend to continue to utilize this model to compute the fair value of options under 123R.", + "Upon the adoption of 123R, we expect to recognize a cumulative effect of change in accounting principle which will increase net income by approximately $2 million.", + "This cumulative effect is related to certain performance shares issued to certain officers and employees in 2002 and 2003 that were required to be adjusted to fair value at each reporting date under APB No.25, because the ultimate number of these shares that will vest is dependent on the achievement of certain performance targets.", + "Under 123R, these performance awards are accounted for based on their grant-date fair value and are not adjusted to fair value at each reporting date.", + "While there are certain differences between 123 and 123R, we believe that our pro forma disclosures under 123 approximate the effect of 123R.", + "Other than the cumulative effect of adoption discussed above, we do not believe that the adoption of 123R will have a material impact on our financial position or results of operations.", + "Property Acquisitions and Dispositions A summary of our significant acquisitions in 2005 and 2004 is as follows:", + "| Date| Property| City, State| Gross Leasable Area| Purchase Price||\n||| (In square feet)| (In millions)| Year ended December 31, 2005||\n|||March 1|Assembly Sq./Sturtevant St.|Somerville, MA 228,000 Year ended December 31, 2004|\n|551,000|$66.4|December 29|Crow Canyon Commons|San Ramon, CA|\n|$47.5|||||\n||||March 31|\n|Westgate Mall|San Jose, CA|637,000|$97.0||\n", + "Generally, our acquisitions are initially financed by available cash and borrowings under our revolving credit facility which may be repaid later with funds raised through the issuance of new equity or new long-term debt.", + "Additionally, on December 29, 2005, we assumed a $22.3 million mortgage in connection with the acquisition of Crow Canyon Commons, as discussed further below.", + "The Assembly Square/Sturtevant Street acquisition includes a 332,000 square foot enclosed mall in the City of Somerville, Massachusetts, for which the redevelopment into a power center is nearly complete, and an adjacent ten-acre 220,000 square foot retail/industrial complex.", + "As of December 31, 2005, we have invested a total of $103.4 million in the property, and we expect to invest approximately $3.5 million more to complete the redevelopment of the power center.", + "The acquisition of Assembly Square also included zoning entitlements to add four mixed-use buildings on 3.5 acres, which could include approximately 41,000 square feet of retail space, 51,000 square feet of office space and 239 residential units.", + "The acquisition also included an option to purchase adjacent land parcels, all of which are zoned for dense, mixed-use development.", + "We expect that we will structure any future development of Assembly Square in a manner designed to mitigate our risk which may include selling entitlements or co-developing with other real estate companies.", + "Federal Realty Investment Trust CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS\u2019 EQUITY", + "|| Year Ended December 31,|\n||2005| 2004| 2003|\n||Shares|Amount|Additional Paid-in Capital|Shares|Amount| Additional Paid-in Capital|Shares|Amount| Additional Paid-in Capital|\n|| (In thousands, except share data)|\n|Common shares||||||||||\n|Balance, beginning of year|53,616,827|$536|$1,108,213|50,670,851|$507|$980,227|44,996,382|$450|$818,290|\n|Exercise of stock options|409,920|4|10,947|348,888|3|8,586|2,124,869|21|50,749|\n|Shares issued under dividend reinvestment plan|62,579|1|3,424|82,391|1|3,439|109,835|1|3,541|\n|Performance and restricted shares granted, net of restricted shares retired|78,591|1|4,061|84,617|1|3,632|138,568|1|3,960|\n|Reclassification for preferred stock redemption|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|3,423|\n|Issuance of shares in public offering|\u2014|\u2014|\u2014|2,186,749|22|99,011|3,236,245|33|98,368|\n|Conversion and redemption of OP units|203,140|2|-12,806|203,130|2|8,686|64,952|1|1,896|\n|Shares issued to purchase partnership interests|\u2014|\u2014|\u2014|40,201|\u2014|1,862|\u2014|\u2014|\u2014|\n|Stock compensation associated with variable accounting|\u2014|\u2014|893|\u2014|\u2014|2,770|\u2014|\u2014|\u2014|\n|Balance, end of year|54,371,057|$544|$1,114,732|53,616,827|$536|$1,108,213|50,670,851|$507|$980,227|\n|Accumulated dividends in excess of net income||||||||||\n|Balance, beginning of year||$-416,026|||$-386,738|||$-368,839||\n|Net income||114,612|||84,156|||94,497||\n|Dividends declared to common shareholders||-124,928|||-101,969|||-93,889||\n|Preferred share dividends and redemption costs||-11,475|||-11,475|||-18,507||\n|Balance, end of year||$-437,817|||$-416,026|||$-386,738||\n|Treasury shares||||||||||\n|Balance, beginning of year|-1,480,202|$-28,786||-1,470,275|$-28,445||-1,461,147|$-28,193||\n|Performance and restricted shares forfeited|-158|-8||-9,927|-341||-9,128|-252||\n|Balance, end of year|-1,480,360|$-28,794||-1,480,202|$-28,786||-1,470,275|$-28,445||\n|Deferred compensation on restricted shares||||||||||\n|Balance, beginning of year|-226,904|$-8,641||-220,666|$-5,474||-153,993|$-2,657||\n|Performance and restricted shares issued, net of forfeitures|-67,517|-3,494||-72,166|-3,099||-118,400|-3,371||\n|Vesting of performance and restricted shares|87,889|2,431||65,928|-68||51,727|554||\n|Balance, end of year|-206,532|$-9,704||-226,904|$-8,641||-220,666|$-5,474||\n|Notes receivable from issuance of common shares||||||||||\n|Balance, beginning of year|-112,712|$-2,083||-156,274|$-3,615||-184,063|$-5,151||\n|Loans issued|\u2014|\u2014||-16,899|-411||-87,641|-1,999||\n|Loans paid|26,339|291||60,461|1,943||115,430|3,535||\n|Balance, end of year|-86,373|$-1,792||-112,712|$-2,083||-156,274|$-3,615||\n|Accumulated other comprehensive income (loss)||||||||||\n|Balance, beginning of year||$2,321|||$-87|||$-4,613||\n|Adjustments to unrealized gains (losses) on securities||60|||27|||-92||\n|Adjustments to unrealized gains on interest rate swaps||297|||2,381|||3,563||\n|Loss on interest rate hedge transaction||\u2014|||\u2014|||1,055||\n|Balance, end of year||$2,678|||$2,321|||$-87||\n|Comprehensive income||||||||||\n|Net income||$114,612|||$84,156|||$94,497||\n|Adjustments to unrealized gains (losses) on securities||60|||27|||-92||\n|Adjustments to unrealized gains on interest rate swaps||297|||2,381|||3,563||\n|Termination of interest rate swap||\u2014|||\u2014|||1,055||\n|Total comprehensive income||$114,909|||$86,564|||$99,023||\n", + "The accompanying notes are an integral part of these consolidated statements.", + "We currently believe that cash flows from operations, cash on hand, our ATM equity program, our revolving credit facility and our general ability to access the capital markets will be sufficient to finance our operations and fund our debt service requirements and capital expenditures.", + "Our overall capital requirements during 2015 will depend upon acquisition opportunities, the level of improvements and redevelopments on existing properties and the timing and cost of development of Assembly Row, Pike & Rose and future phases of Santana Row.", + "While the amount of future expenditures will depend on numerous factors, we expect to continue to see higher levels of capital investments in our properties under development and redevelopment in 2015 which is the result of the continued development at both Assembly Row and Pike & Rose with openings of portions of both projects in 2015, the commencement of construction on Phase II of Pike & Rose, and the current phase of Santana Row.", + "With respect to other capital investments related to our existing properties, we expect to incur levels consistent with prior years.", + "Our capital investments will be funded on a short-term basis with cash flow from operations, cash on hand and/or our revolving credit facility, and on a long-term basis, with long-term debt or equity including shares issued under our ATM equity program.", + "If necessary, we may access the debt or equity capital markets to finance significant acquisitions.", + "Given our past ability to access the capital markets, we expect debt or equity to be available to us.", + "Although there is no intent at this time, if market conditions deteriorate, we may also delay the timing of certain development and redevelopment projects as well as limit future acquisitions, reduce our operating expenditures, or re-evaluate our dividend policy.", + "In addition to conditions in the capital markets which could affect our ability to access those markets, the following factors could affect our ability to meet our liquidity requirements: ?", + "restrictions in our debt instruments or preferred shares may limit us from incurring debt or issuing equity at all, or on acceptable terms under then-prevailing market conditions; and ?", + "we may be unable to service additional or replacement debt due to increases in interest rates or a decline in our operating performance.", + "Summary of Cash Flows", + "||Year Ended December 31,|\n||2014|2013|\n||(In thousands)|\n|Cash provided by operating activities|$346,130|$314,498|\n|Cash used in investing activities|-396,150|-345,198|\n|Cash provided by financing activities|9,044|82,639|\n|(Decrease) increase in cash and cash equivalents|-40,976|51,939|\n|Cash and cash equivalents, beginning of year|88,927|36,988|\n|Cash and cash equivalents, end of year|$47,951|$88,927|\n", + "Net cash provided by operating activities increased $31.6 million to $346.1 million during 2014 from $314.5 million during 2013.", + "The increase was primarily attributable to higher net income before certain non-cash items.", + "Net cash used in investing activities increased $51.0 million to $396.2 million during 2014 from $345.2 million during 2013.", + "The increase was primarily attributable to: ?", + "$93.7 million increase in capital investments and leasing costs in 2014 primarily related to our development projects at Assembly Row and Pike & Rose, ?", + "$42.9 million in proceeds from the sale of real estate in 2013, and ?", + "$6.7 million contribution to our real estate partnership to repay the mortgage loans of two of its properties, partially offset by ?", + "$78.1 million decrease in acquisitions of real estate, ?", + "$10.4 million in distributions from our real estate partnership from the sale of Pleasant Shops in July 2014, and ?", + "$3.6 million received from the payoff of a mortgage loan receivable in July 2014.", + "Consolidated gold sales are expected to increase to approximately 495,000 to 530,000 ounces in 2008 mainly due to the processing of higher grade material.", + "Costs applicable to sales of approximately $485 to $520 per ounce is expected for 2008.", + "The expected increase is mainly due to higher fuel, power, contract services and consumable costs.", + "During 2007, Newmont and other gold companies with production in Ghana, formed a consortium to import power generation equipment and constructed an 80 mega-watt power plant.", + "The plant was completed during the fourth quarter of 2007 and is being commissioned.", + "As a result of the mining industry\u2019s initiative to install the power plant, the Ghanaian government has agreed, if required to curtail power consumption as a result of power shortages, to distribute power proportionately between participating mines and other industrial and commercial customers.", + "Other Operations", + "|| Gold Ounces Sold| Costs Applicable to Sales-1| Depreciation, Depletion and Amortization|\n|| 2007| 2006| 2005| 2007| 2006| 2005| 2007| 2006| 2005|\n|| (in thousands)| ($ per ounce)| ($ per ounce)|\n|Kori Kollo-2(88% owned)|87|129|95|$340|$210|$167|$117|$68|$40|\n|La Herradura (44% owned)|86|79|80|341|248|184|77|114|63|\n|Golden Giant|12|59|162|205|214|296|\u2014|10|67|\n|Total/Weighted-Average|185|267|337|$332|$222|$233|$91|$69|$58|\n", + "(1) Excludes depreciation, depletion and amortization and loss on settlement of price-capped forward sales contracts.", + "(2) Consolidated gold ounces sold includes minority interests\u2019 share.", + "Gold ounces sold at Other Operations decreased in 2007 from 2006, primarily due to the completion of operations at Golden Giant and lower production from Kori Kollo.", + "Gold production from Kori Kollo decreased due to the timing of flows from the leach pads.", + "Costs applicable to sales per ounce increased in 2007 from 2006, primarily due to lower production and higher waste removal costs at La Herradura and the completion of operations at Golden Giant.", + "Gold ounces sold at Other Operations decreased in 2006 from 2005, primarily due to the wind-up of operations at Golden Giant.", + "Mining operations at Golden Giant were completed in December 2005 with remnant mining and milling production continuing into 2006.", + "Costs applicable to sales decreased primarily due to the processing of lower cost remnant production from Golden Giant offset by higher waste removal costs at Kori Kollo and La Herradura.", + "In 2005, $3 mining costs were deferred, reducing Costs applicable to sales by $31 per ounce at La Herradura.", + "Consolidated gold sales for Other Operations in 2008 are expected to be approximately 200,000 to 220,000 ounces at Costs applicable to sales of approximately $340 to $360 per ounce.", + "Exploration Exploration expense was $177, $166 and $143 for 2007, 2006 and 2005, respectively.", + "Exploration expense in 2007 reflects higher funding of exploration and related activities in response to higher gold prices and increased drilling, labor and consumable costs.", + "We anticipate spending between $220 and $230 on exploration activities in 2008, with the increases primarily related to inflation in drilling costs and exploration at our newly acquired Hope Bay property.", + "During 2007, we added 0.8 million equity gold ounces to proven and probable reserves, with 8.2 million equity gold ounces of depletion and divestitures.", + "Reserve additions from exploration of 3.5 million equity ounces were primarily due to further extension drilling at Boddington, Jundee and Tanami in Australia (2.6 million equity ounces), with the remaining additions from several open pit and underground sites in Nevada as well as La", + "PART I ITEM 1. BUSINESS (dollars in millions, except per share, per ounce and per pound amounts) Introduction Newmont Mining Corporation is primarily a gold producer with significant operations and/or assets in the United States, Australia, Peru, Ghana and Suriname.", + "At December 31, 2016, Newmont had attributable proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles (59,000 square kilometers).", + "Newmont is also engaged in the production of copper, principally through Boddington in Australia and Phoenix in the United States.", + "Newmont Mining Corporation\u2019s original predecessor corporation was incorporated in 1921 under the laws of Delaware.", + "On November 2, 2016, Newmont completed the sale of its 48.5% economic interest in PT Newmont Nusa Tenggara (\u201cPTNNT\u201d), which operated the Batu Hijau copper and gold mine (\u201cBatu Hijau\u201d) in Indonesia (the \u201cBatu Hijau Transaction\u201d).", + "As a result, Newmont presents Batu Hijau as a discontinued operation for all periods presented.", + "In the following discussion, we present and discuss our continuing operations unless otherwise indicated.", + "For additional information regarding our discontinued operations, see Note 3 to the Consolidated Financial Statements and the discussion in our Results of Consolidated Operations in Item 7.", + "Newmont\u2019s corporate headquarters are in Greenwood Village, Colorado, USA.", + "In this report, \u201cNewmont,\u201d the \u201cCompany,\u201d \u201cour\u201d and \u201cwe\u201d refer to Newmont Mining Corporation together with our affiliates and subsidiaries, unless the context otherwise requires.", + "References to \u201cA$\u201d refer to Australian currency.", + "Newmont\u2019s Sales and long-lived assets for continuing operations are geographically distributed as follows:", + "||Sales|Long-Lived Assets|\n||2016|2015|2014|2016|2015|2014|\n|United States|39%|33%|30%|45%|43%|38%|\n|Australia|32%|32%|30%|19%|18%|19%|\n|Ghana|15%|15%|17%|16%|16%|17%|\n|Peru|12%|18%|18%|14%|19%|23%|\n|Suriname|2%|\u2014%|\u2014%|6%|4%|2%|\n|Other|\u2014%|2%|5%|\u2014%|\u2014%|1%|\n", + "Segment Information Our regions include North America, South America, Asia Pacific, and Africa.", + "Our North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in the state of Nevada and Cripple Creek &Victor (\u201cCC&V\u201d) in the state of Colorado, in the United States.", + "Our South America segment consists primarily of Yanacocha in Peru and Merian in Suriname.", + "Our Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia.", + "Our Africa segment consists primarily of Ahafo and Akyem in Ghana.", + "See Item 1A, Risk Factors, below, and Note 5 to the Consolidated Financial Statements for information relating to our operating segments, domestic and export sales and lack of dependence on a limited number of customers.", + "Products References in this report to \u201cattributable gold ounces\u201d or \u201cattributable copper pounds\u201d mean that portion of gold or copper produced, sold or included in proven and probable reserves based on our proportionate ownership, unless otherwise noted.", + "Gold General.", + "We had consolidated gold production from continuing operations of 5.2 million ounces (4.9 million attributable ounces) in 2016, 5.0 million ounces (4.6 million attributable ounces) in 2015 and 5.2 million ounces (4.7 million attributable ounces) in 2014.", + "Of our 2016 consolidated gold production, approximately 39% came from North America, 14% from South America, 31% from Asia Pacific and 16% from Africa.", + "For 2016, 2015 and 2014, 96%, 95% and 95%, respectively, of our Sales were attributable to gold.", + "Most of our Sales come from the sale of refined gold.", + "The end product at our gold operations, however, is generally dor\u00e9 bars.", + "Dor\u00e9 is an alloy consisting primarily of gold but also containing silver and other metals.", + "Dor\u00e9 is sent to refiners to produce bullion that meets the required markett standard", + "Operating Statistics The following tables detail operating statistics related to gold production, ounces sold and production costs per ounce of our continuing operations:", + "||North America|South America 2018||\n|Years Ended December 31,|2018|2017|2016|2017|2016|\n|Tons mined (000 dry short tons):|||||||\n|Open pit|230,558|252,086|218,411|99,793|104,763|104,713|\n|Underground|3,024|2,979|2,864|\u2014|\u2014|\u2014|\n|Tons processed (000 dry short tons):|||||||\n|Mill|25,879|25,406|25,941|21,666|20,690|9,006|\n|Leach|46,034|55,289|45,109|25,405|24,082|30,639|\n|Average ore grade (oz/ton):|||||||\n|Mill|0.075|0.077|0.074|0.042|0.043|0.063|\n|Leach|0.017|0.020|0.019|0.013|0.013|0.012|\n|Average mill recovery rate|76.7%|76.9%|78.5%|88.0%|87.2%|79.4%|\n|Ounces produced -000:|||||||\n|Mill|1,453|1,485|1,501|802|752|434|\n|Leach|604|726|523|247|296|325|\n|Consolidated|2,057|2,211|2,024|1,049|1,048|759|\n|Attributable|2,057|2,211|2,024|671|660|414|\n|Consolidated ounces sold -000|2,052|2,204|1,990|1,060|1,046|736|\n|Production costs per ounce sold:-1|||||||\n|Direct mining and production costs|$753|$706|$729|$593|$639|$737|\n|By-product credits|-8|-9|-11|-19|-17|-11|\n|Royalties and production taxes|12|10|15|53|54|38|\n|Write-downs and inventory change|2|5|-34|33|33|-5|\n|Costs applicable to sales|759|712|699|660|709|759|\n|Depreciation and amortization|238|244|207|201|229|404|\n|Reclamation accretion|6|6|6|24|45|36|\n|Total production costs|$1,003|$962|$912|$885|$983|$1,199|\n|All-in sustaining costs per ounce sold-2|$928|$876|$854|$804|$870|$932|\n", + "Years Ended December 31,", + "||Australia|Africa 2018||\n|Years Ended December 31,|2018|2017|2016|2017|2016|\n|Tons mined (000 dry short tons):|||||||\n|Open pit|103,192|114,371|126,619|71,970|74,580|75,048|\n|Underground|3,202|3,144|3,279|1,339|279|\u2014|\n|Tons milled (000 dry short tons)|54,337|52,802|51,606|15,585|16,884|17,289|\n|Average ore grade (oz/ton)|0.032|0.035|0.037|0.058|0.053|0.052|\n|Average mill recovery rate|87.4%|86.1%|86.4%|92.6%|92.3%|91.1%|\n|Ounces produced -000:|||||||\n|Mill|1,523|1,573|1,641|850|822|819|\n|Consolidated|1,523|1,573|1,641|850|822|819|\n|Consolidated ounces sold -000|1,553|1,558|1,624|851|824|822|\n|Production costs per ounce sold:-1|||||||\n|Direct mining and production costs|$681|$673|$605|$592|$573|$553|\n|By-product credits|-7|-8|-7|-2|-2|-2|\n|Royalties and production taxes|32|32|32|55|51|50|\n|Write-downs and inventory change|3|-25|\u2014|\u2014|33|65|\n|Costs applicable to sales|709|672|630|645|655|666|\n|Depreciation and amortization|133|134|135|301|277|271|\n|Reclamation accretion|8|7|7|9|9|7|\n|Total production costs|$850|$813|$772|$955|$941|$944|\n|All-in sustaining costs per ounce sold-2|$845|$806|$777|$794|$785|$795|\n", + "Table of Contents The following performance graph is not \u201csoliciting material,\u201d is not deemed filed with the SEC, and is not to be incorporated by reference into any of Valero\u2019s 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, 2006 and ending December 31, 2011." + ], + "question_id": "simplong-test-250", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the current growth rate of Purchase of minerals in-place?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The Company recognizes over the requisite service period the fair value cost determined at the grant date based on numerous assumptions, including an estimate of the likelihood that Apache\u2019s stock price will achieve these thresholds and the expected forfeiture rate.", + "If a price target is not met before the end of the stated achievement period, any unamortized expense must be immediately recognized.", + "Since the $162 interim price target of the 2008 Share Appreciation Program was not met prior to the stated achievement period, on December 31, 2010, Apache recognized $27 million of unamortized expense and $14 million of unamortized capital costs.", + "The Company will recognize total expense and capitalized costs for the 2008 Share Appreciation Program of approximately $188 million through 2014.", + "As of March 2011, the Company had recognized $79 million of total expense and capitalized costs for the 2005 Share Appreciation Program and had no unamortized costs remaining.", + "A summary of the amounts recognized as expense and capitalized costs for each plan are detailed in the table below:", + "|| For the Year Ended December 31,|\n|| 2011| 2010| 2009|\n|| (In millions)|\n| 2008 Share Appreciation Program||||\n|Compensation expense|$8|$49|$23|\n|Compensation expense, net of tax|5|31|15|\n|Capitalized costs|5|27|13|\n| 2005 Share Appreciation Plan||||\n|Compensation expense|$1|$6|$6|\n|Compensation expense, net of tax|1|4|4|\n|Capitalized costs|1|3|3|\n", + "Preferred Stock The Company has 10,000,000 shares of no par preferred stock authorized, of which 25,000 shares have been designated as Series A Junior Participating Preferred Stock (the Series A Preferred Stock) and 1.265 million shares as 6.00-percent Mandatory Convertible Preferred Stock, Series D (the Series D Preferred Stock).", + "The Company redeemed the 100,000 outstanding shares of its 5.68 percent Series B Cumulative Preferred Stock (the Series B Preferred Stock) on December 30, 2009.", + "Series A Preferred Stock In December 1995, the Company declared a dividend of one right (a Right) for each 2.31 shares (adjusted for subsequent stock dividends and a two-for-one stock split) of Apache common stock outstanding on January 31, 1996.", + "Each full Right entitles the registered holder to purchase from the Company one ten-thousandth (1/10,000) of a share of Series A Preferred Stock at a price of $100 per one ten-thousandth of a share, subject to adjustment.", + "The Rights are exercisable 10 calendar days following a public announcement that certain persons or groups have acquired 20 percent or more of the outstanding shares of Apache common stock or 10 business days following commencement of an offer for 30 percent or more of the outstanding shares of Apache\u2019s outstanding common stock (flip in event); each Right will become exercisable for shares of Apache\u2019s common stock at 50 percent of the then-market price of the common stock.", + "If a 20-percent shareholder of Apache acquires Apache, by merger or otherwise, in a transaction where Apache does not survive or in which Apache\u2019s common stock is changed or exchanged (flip over event), the Rights become exercisable for shares of the common stock of the Company acquiring Apache at 50 percent of the then-market price for Apache common stock.", + "Any Rights that are or were beneficially owned by a person who has acquired 20 percent or more of the outstanding shares of Apache common stock and who engages in certain transactions or realizes the benefits of", + "Shareholder Information Stock Data", + "|| Price Range| Dividends per Share|\n|| High| Low| Declared| Paid|\n|2011|||||\n|First Quarter|$132.50|$110.29|$0.15|$0.15|\n|Second Quarter|134.13|114.94|0.15|0.15|\n|Third Quarter|129.26|80.05|0.15|0.15|\n|Fourth Quarter|105.64|73.04|0.15|0.15|\n|2010|||||\n|First Quarter|$108.92|$95.15|$0.15|$0.15|\n|Second Quarter|111.00|83.55|0.15|0.15|\n|Third Quarter|99.09|81.94|0.15|0.15|\n|Fourth Quarter|120.80|96.51|0.15|0.15|\n", + "The Company has paid cash dividends on its common stock for 47 consecutive years through December 31, 2011.", + "Future dividend payments will depend upon the Company\u2019s level of earnings, financial requirements and other relevant factors.", + "Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ National Market (symbol APA).", + "At December 31, 2011, the Company\u2019s shares of common stock outstanding were held by approximately 5,600 shareholders of record and 444,000 beneficial owners.", + "Also listed on the New York Stock Exchange are: ?", + "Apache Depositary Shares (symbol APA/PD), each representing a 1/20th interest in Apache\u2019s 6% Mandatory Convertible Preferred Stock, Series D ?", + "Apache Finance Canada\u2019s 7.75% notes, due 2029 (symbol APA/29) Corporate Offices One Post Oak Central 2000 Post Oak Boulevard Suite 100 Houston, Texas 77056-4400 (713) 296-6000 Independent Public Accountants Ernst & Young LLP Five Houston Center 1401 McKinney Street, Suite 1200 Houston, Texas 77010-2007 Stock Transfer Agent and Registrar Wells Fargo Bank, N. A. Attn: Shareowner Services P. O.", + "Box 64854 South St. Paul, Minnesota 55164-0854 (651) 450-4064 or (800) 468-9716 Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings, or change of address should be directed to the stock transfer agent.", + "Shareholders can access account information on the web site: www.", + "shareowneronline.", + "com Dividend Reinvestment Plan Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price.", + "Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service.", + "All bank service fees and brokerage commissions on purchases are paid by Apache.", + "A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Direct Registration Shareholders of record may hold their shares of Apache common stock in book-entry form.", + "This eliminates costs related to safekeeping or replacing paper stock certificates.", + "In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company\u2019s stock transfer agent and your broker.", + "Stock certificates may be converted to book-entry shares at any time.", + "Questions regarding this service may be directed to the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Annual Meeting Apache will hold its annual meeting of shareholders on Thursday, May 24, 2012, at 10:00 a. m. in the Ballroom, Hilton Houston Post Oak, 2001 Post Oak Boulevard, Houston, Texas.", + "Apache plans to web cast the annual meeting live; connect through the Apache web site: www.", + "apachecorp.", + "com Stock Held in \u201cStreet Name\u201d The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis.", + "Shareholders wanting to be added to this list should direct their requests to Apache\u2019s Public and International Affairs Department, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400, by calling (713) 296-6157 or by registering on Apache\u2019s web site: www.", + "apachecorp.", + "com Form 10-K Request Shareholders and other persons interested in obtaining, without cost, a copy of the Company\u2019s Form 10-K filed with the Securities and Exchange Commission may do so by writing to Cheri L. Peper, Corporate Secretary, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400.", + "Investor Relations Shareholders, brokers, securities analysts, or portfolio managers seeking information about the Company are welcome to contact Patrick Cassidy, Investor Relations Director, at (713) 296-6100.", + "Members of the news media and others seeking information about the Company should contact Apache\u2019s Public and International Affairs Department at (713) 296-7276.", + "Web site: www.", + "apachecorp.", + "com", + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures.", + "The reserve data in the following tables only represent estimates and should not be construed as being exact.", + "||Crude Oil and Condensate (Thousands of barrels)|\n||United States|Canada|Egypt-1|Australia|North Sea|Argentina|Total-1|\n| Proved developed reserves:||||||||\n|December 31, 2010|422,737|90,292|109,657|48,072|115,705|16,583|803,046|\n|December 31, 2011|428,251|81,846|105,840|35,725|136,990|16,001|804,653|\n|December 31, 2012|474,837|79,695|106,746|29,053|119,635|15,845|825,811|\n|December 31, 2013|457,981|80,526|119,242|22,524|100,327|14,195|794,795|\n| Proved undeveloped reserves:||||||||\n|December 31, 2010|214,117|56,855|17,470|18,064|38,663|4,062|349,231|\n|December 31, 2011|205,763|59,746|22,195|32,220|32,415|4,585|356,924|\n|December 31, 2012|203,068|70,650|17,288|34,808|28,019|2,981|356,814|\n|December 31, 2013|195,835|56,366|16,302|36,703|29,253|2,231|336,690|\n| Total proved reserves:||||||||\n|Balance December 31, 2010|636,855|147,146|127,127|66,136|154,368|20,645|1,152,277|\n|Extensions, discoveries and other additions|45,676|16,712|45,021|15,762|332|3,230|126,733|\n|Purchase of minerals in-place|5,097|705|\u2014|\u2014|34,612|\u2014|40,414|\n|Revisions of previous estimates|-8,904|-17,117|-6,185|\u2014|\u2014|215|-31,991|\n|Production|-43,587|-5,202|-37,928|-13,953|-19,907|-3,503|-124,080|\n|Sale of properties|-1,123|-653|\u2014|\u2014|\u2014|\u2014|-1,776|\n|Balance December 31, 2011|634,014|141,591|128,035|67,945|169,405|20,587|1,161,577|\n|Extensions, discoveries and other additions|84,656|18,935|36,188|6,277|346|1,133|147,535|\n|Purchase of minerals in-place|15,942|188|\u2014|276|2,143|\u2014|18,549|\n|Revisions of previous estimates|-7,474|-4,577|-3,678|-66|-928|671|-16,052|\n|Production|-49,089|-5,792|-36,511|-10,571|-23,312|-3,565|-128,840|\n|Sale of properties|-144|\u2014|\u2014|\u2014|\u2014|\u2014|-144|\n|Balance December 31, 2012|677,905|150,345|124,034|63,861|147,654|18,826|1,182,625|\n|Extensions, discoveries and other additions|133,227|10,177|43,738|2,539|1,543|998|192,222|\n|Purchase of minerals in-place|85|\u2014|5|\u2014|3,623|\u2014|3,713|\n|Revisions of previous estimates|1,683|-531|457|-118|18|24|1,533|\n|Production|-53,621|-6,469|-32,690|-7,055|-23,258|-3,422|-126,515|\n|Sale of properties|-105,463|-16,630|\u2014|\u2014|\u2014|\u2014|-122,093|\n|Balance December 31, 2013|653,816|136,892|135,544|59,227|129,580|16,426|1,131,485|\n", + "(1) 2013 includes proved reserves of 45 MMbbls as of December 31, 2013 attributable to a noncontrolling interest in Egypt.", + "until the hedged transaction is recognized in earnings.", + "Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.", + "The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2012 and 2011 was $1.3 billion and $1.7 billion.", + "The aggregate notional amount of our outstanding interest rate swaps at December 31, 2012 and 2011 was $503 million and $450 million.", + "Derivative instruments did not have a material impact on net earnings and comprehensive income during 2012, 2011, and 2010.", + "Substantially all of our derivatives are designated for hedge accounting.", + "See Note 15 for more information on the fair value measurements related to our derivative instruments.", + "Stock-based compensation \u2013 Compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award.", + "We generally recognize the compensation cost ratably over a three-year vesting period.", + "Income taxes \u2013 We periodically assess our tax filing exposures related to periods that are open to examination.", + "Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS).", + "If we cannot reach a more-likely-than-not determination, no benefit is recorded.", + "If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled.", + "We record interest and penalties related to income taxes as a component of income tax expense on our Statements of Earnings.", + "Interest and penalties are not material.", + "Accumulated other comprehensive loss \u2013 Changes in the balance of accumulated other comprehensive loss, net of income taxes, consisted of the following (in millions):" + ], + "question_id": "simplong-test-251", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Operating leases in different period sum up without those smaller than 200000?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "website at www.", + "hrblock.", + "com and www.", + "taxcut.", + "com.", + "These websites allow clients to prepare their federal and state income tax returms using the TaxCut Online Tax Program, access tax tips, advice and tax-related news and use calculators for tax planning.", + "Beginning with the fiscal year 2003 tax season, we participated in the Free File Alliance (FFA).", + "This aliance was created by the tax returm preparation industry and the IRS, and allows qualified filers to prepare and file their federal returm online at no charge.", + "We feel that this program provides a valuable public service and increases our visibility with new clients, while also providing an opportunity to offer our state return preparation services to these new clients at our regular prices.", + "CASHBACK PROGRAM - We offer a refund discount (CashBack) program to our customers in Canada.", + "Canadian law specifies the procedures we must follow in conducting the program.", + "In accordance with current Canadian regulations, if a customer's tax return indicates the customer is entitled to a tax refund, we issue a check to the client.", + "The client assigns to us the full amount of the tax refund to be issued by the Canada Revenue Agency (CRA) and the refund check is then sent by the CRA directly to us.", + "In accordance with the law, the discount is deemed to include both the tax return preparation fee and the fee for tax refund discounting.", + "This program is financed by short-term borrowings.", + "The number of returns discounted under the CashBack program in fiscal year 2006 was approximately 653,000, compared to 581,000 in 2005 and 552,000 in 2004.", + "See discussion of the Canadian tax season extension under\u201cSeasonality of Business. \"", + "CUENTS SERVED - We, together with our franchisees, served approximately 21 .9 million clients worldwide during fiscal year 2006, compared to 21.4 million in 2005 and 21.6 million in 2004.", + "See discussion of the Canadian tax season extension under\u201cSeasonality of Business. '", + "We served 19.5 million clients in the U. S. during fiscal year 2006, compared to 19.1 million in 2005 and 19.3 million in 2004.", + "\u201cClients served\" includes taxpayers for whom we prepared income tax returns in offices, federal software units sold, online completed and paid federal retums, paid state returms when no federal return was purchased, and taxpayers for whom we provided only paid electronic fling services.", + "Our U. S. clients served constituted 15.7% of an IRS estimate of total individual income tax returms filed as of April 30, 2006, compared to 15.0% in 2005 and 15.7% in 2004.", + "OWNED AND FRANCHISED OFFICES - A summary of our company- owned and franchise offices is as follows:", + "|April 30,| 2006|2005|2004|\n| U.S. OFFICES\u2014||||\n|Company-owned offices| 6,387|5,811|5,172|\n|Company-owned shared locations-1| 1,473|1,296|996|\n|Total company-owned offices| 7,860|7,107|6,168|\n|Franchise offices| 3,703|3,528|3,418|\n|Franchise shared locations-1| 602|526|323|\n|Total franchise offices| 4,305|4,054|3,741|\n|| 12,165|11,161|9,909|\n| INTERNATIONAL OFFICES\u2014||||\n|Canada| 1,011|912|891|\n|Australia| 362|378|378|\n|Other| 10|10|7|\n|| 1,383|1,300|1,276|\n", + "\"1) Shared loations include ofies located within Wal-Mart, Sears or other third-party businesses.", + "Offices in shared locations include 1,138 offices operated in Wal-Mart stores and 793 offices in Sears stores operated as\u201cH&R Block at Sears. \"", + "The Wal-Mart agreement expires in May 2007, and the Sears license agreement expires in July 2007, both subject to termination rights.", + "We offer franchises as a way to expand our presence in the market.", + "Our franchise arrangements provide us with certain rights which are designed to protect our brand.", + "Most of our franchisees receive signs, designated equipment, specialized forms, local advertising, initial training, and supervisory services, and pay us a percentage of gross tax return preparation and related service revenues as a franchise royalty.", + "From time to time, we have acquired the territories of existing franchisees and other tax retur preparation businesses, and will continue to do so if future conditions warrant and satisfactory terms can be negotiated.", + "During fiscal year 2004, we paid $243.2 million to acquire the operations of ten of our former major franchisees.", + "RAL PARTICIPATIONS - Since July 1996, we have been a party to agreements with HSBC and its predecessors to participate in RAIs provided by a lending bank to H&R Block tax clients.", + "The 1996 agreement was amended and restated in January 2003 and again in June 2003.", + "In the June 2003 agreement, we obtained the right to purchase a 49.9% participation interest in RALs obtained through company-owned and regular franchise offices and a 25% interest in RALs obtained through major franchise offices.", + "The current agreement continues through June 2006.", + "During fiscal year 2006, we signed a new agreement with HSBC in which we obtained the right to purchase a 49.9% participation interest in all RAIs obtained through our retail offices.", + "We received a signing bonus from HSBC during the current year in connection with this agreement, which was primarily recorded as deferred revenue at April 30, 2006.", + "The new agreement will be in effect", + "BORROWINGS We continually monitor our funding requirements and execute strategies to manage our overall asset and liability profile.", + "The following chart provides the debt ratings for BFC as of April 30, 2011 and 2010:", + "|As of||April 30, 2011|||April 30, 2010||\n||Short-term|Long-term|Outlook|Short-term|Long-term|Outlook|\n|Moody\u2019s|P-2|Baa2| Negative|P-2|Baa1|Stable|\n|S&P|A-2|BBB| Negative|A-2|BBB|Positive|\n|DBRS|R-2 (high)|BBB (high)| Stable|R-2 (high)|BBB (high)|Positive|\n", + "At April 30, 2011, we maintained a CLOC agreement to support commercial paper issuances, general corporate purposes or for working capital needs.", + "This facility provides funding up to $1.7 billion and matures July 31, 2013.", + "This facility bears interest at an annualrate of LIBOR plus 1.30% to 2.80% or PRIME plus 0.30% to 1.80% (depending on the type of borrowing) and includes an annual facility fee of 0.20% to 0.70% of the committed amounts, based on our credit ratings.", + "Covenants in this facility include: (1) maintenance of a minimum net worth of $650.0 million on the last day of any fiscal quarter; and (2) reduction of the aggregate outstanding principal amount of short-term debt, as defined in the agreement, to $200.0 million or less for thirty consecutive days during the period March 1 to June 30 of each year (\u201cClean-down requirement\u201d).", + "At April 30, 2011, we were in compliance with these covenants and had net worth of $1.4 billion.", + "We had no balance outstanding under the CLOCs at April 30, 2011.", + "During fiscal years 2011, 2010 and 2009, borrowing needs in our Canadian operations were funded by corporate borrowings in the U. S. To mitigate the foreign currency exchange rate risk, we used foreign exchange forward contracts.", + "We do not enter into forward contracts for speculative purposes.", + "In estimating the fair value of derivative positions, we utilize quoted market prices, if available, or quotes obtained from external sources.", + "There were no forward contracts outstanding as of April 30, 2011.", + "CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS A summary of our obligations to make future payments as of April 30, 2011, is as follows:", + "||Total|Less Than 1 Year|1 - 3 Years|4 - 5 Years|After 5 Years|\n|Long-term debt (including interest)|$1,151,434|$67,750|$674,257|$409,427|$\u2013|\n|Customer deposits|863,898|511,010|11,656|22|341,210|\n|FHLB borrowings|25,000|25,000|\u2013|\u2013|\u2013|\n|Retirement plan contribution|50,000|10,000|20,000|20,000|\u2013|\n|Acquisition payments|43,273|2,880|31,376|2,909|6,108|\n|Contingent acquisition payments|11,000|8,652|2,318|30|\u2013|\n|Media advertising purchase obligation|9,498|6,665|2,833|\u2013|\u2013|\n|Capital lease obligations|10,953|557|1,411|1,545|7,440|\n|Operating leases|735,048|238,167|309,107|120,080|67,694|\n|Total contractual cash obligations|$2,900,104|$870,681|$1,052,958|$554,013|$422,452|\n", + "The amount of liabilities recorded in connection with unrecognized tax positions that we reasonably expect to pay within twelve months is $16.6 million at April 30, 2011 and is included in accrued income taxes on our consolidated balance sheet.", + "The remaining amount is included in other noncurrent liabilities on our consolidated balance sheet.", + "Because the ultimate amount and timing of any future cash settlements cannot be predicted with reasonable certainty, the estimated unrecognized tax position liability has been excluded from the table above.", + "See Item 8, note 15 to the consolidated financial statements for additional information.", + "See discussion of contractual obligations and commitments in Item 8, within the notes to our consolidated financial statements.", + "U. S. DIY tax preparation fees declined $15.2 million, or 6.5%, due to our H&R Block More Zero?", + "promotion, which offered free online tax preparation for certain forms.", + "This decrease was partially offset by a 3.5% increase in returns.", + "Fees earned on RTs decreased $14.3 million, or 8.8%, primarily due to lower attach rates due to our H&R Block More Zero?", + "and Free 1040EZ promotions and the offering of state RTs at no cost.", + "Revenue from POM increased $6.0 million, or 6.9%, primarily due to an increase in units sold in prior years and favorable changes in the timing of forecasted claims.", + "Other revenues increased $9.6 million, or 18.6%, primarily due to the fees earned on our TIS product, partially offset by a decline in income on our mortgage loan portfolio and investments in available-for-sale (AFS) securities recorded as other income in fiscal year 2017 rather than as revenue for a portion of fiscal year 2016.", + "Total operating expenses decreased $84.6 million, or 3.5%, from fiscal year 2016.", + "Total compensation and benefits decreased $26.4 million primarily due to lower headcount in our field and corporate operations and lower wages due to lower return volumes.", + "These declines were partially offset by an increase in short-term incentive compensation.", + "Occupancy expenses increased $8.8 million, or 2.4%, primarily due to higher rental rates on tax offices.", + "Marketing and advertising expenses decreased $36.5 million, or 12.3%, primarily due to our fiscal year 2016 sweepstakes campaign.", + "Depreciation and amortization expense increased $8.6 million, or 4.9%, primarily due to amortization resulting from acquisitions of franchisee and competitor businesses.", + "Bad debt expense decreased $22.6 million, or 30.0%, primarily due to favorable collections on prior year EAs and RTs, and a reduction in overall bad debt rate on fiscal year 2017 balances.", + "Other expenses decreased $14.0 million, or 3.7%, primarily due to fiscal year 2016 costs associated with capital transactions and the divestiture of HRB Bank and cost savings initiatives.", + "These were partially offset by higher fees paid to our bank partners in fiscal year 2017 for products and services they offer to our clients, including program costs related to our RA offering introduced in fiscal year 2017.", + "The components of other expenses are as follows:", + "|Year ended April 30,|2017|2016|$ Change|% Change|\n|Consulting and outsourced services|$104,995|$140,052|$-35,057|-25.0%|\n|Bank partner fees|47,479|16,980|30,499|179.6%|\n|Client claims and refunds|42,618|39,782|2,836|7.1%|\n|Employee travel and related expenses|38,719|46,665|-7,946|-17.0%|\n|Software and IT maintenance expenses|37,582|36,864|718|1.9%|\n|Credit card/bank charges|28,658|28,618|40|0.1%|\n|Insurance|13,320|12,167|1,153|9.5%|\n|Legal fees and settlements|12,589|18,707|-6,118|-32.7%|\n|Other|39,257|39,426|-169|-0.4%|\n||$365,217|$379,261|$-14,044|-3.7%|\n", + "Interest expense increased $24.0 million, or 34.8%, due primarily to issuance of our Senior Notes during fiscal year 2016 in the aggregate principal amount of $1.0 billion.", + "Pretax income for fiscal year 2017 increased $59.8 million, or 10.5%, while our pretax margin increased to 20.7% from 18.7% in fiscal year 2016.", + "Net income from continuing operations increased $37.4 million, or 9.7%, over fiscal year 2016.", + "Diluted earnings per share from continuing operations increased 28.1% from fiscal year 2016 to $1.96 due to a 14.6% decline in diluted weighted average shares outstanding and higher net income.", + "Losses of our discontinued mortgage operations resulted primarily from litigation expenses.", + "See the discussion of the risk of contingent losses related to our discontinued operations in Item 1A, \"Risk Factors\" and in Item 8, notes 11 and 12 to the consolidated financial statements.", + "CRITICAL ACCOUNTING ESTIMATES We consider the estimates discussed below to be critical to understanding our financial statements, as they require the use of significant judgment and estimation in order to measure, at a specific point in time, matters that are inherently uncertain.", + "Specific methods and assumptions for these critical accounting estimates are described in the following paragraphs.", + "We have reviewed and discussed each of these estimates with the Audit Committee of our", + "We monitor the status of the capital markets and regularly evaluate the effect that changes in capital market conditions may have on our ability to execute our announced growth plans and fund our liquidity needs.", + "We expect to continue meeting part of our financing and liquidity needs primarily through commercial paper borrowings, issuances of Senior Notes, and access to long-term committed credit facilities.", + "If conditions in the lodging industry deteriorate, or if disruptions in the capital markets take place as they did in the immediate aftermath of both the 2008 worldwide financial crisis and the events of September 11, 2001, we may be unable to place some or all of our commercial paper on a temporary or extended basis and may have to rely more on borrowings under the Credit Facility, which we believe will be adequate to fund our liquidity needs, including repayment of debt obligations, but which may carry a higher cost than commercial paper.", + "Since we continue to have ample flexibility under the Credit Facility\u2019s covenants, we expect that undrawn bank commitments under the Credit Facility will remain available to us even if business conditions were to deteriorate markedly.", + "Cash from Operations Cash from operations and non-cash items for the last three fiscal years are as follows:" + ], + "question_id": "simplong-test-252", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "as of december 31 , 2015 , what was the percentage of the loans extended under home equity lines of credit in the citi 2019s home equity loan portfolio", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "As of December 31, 2009, approximately $6.7 billion of stock repurchases remained under Citi\u2019s authorized repurchase programs.", + "No material repurchases were made in 2009 or 2008.", + "In addition, for so long as the U. S. government holds any Citigroup common stock or trust preferred securities acquired pursuant to the preferred stock exchange offers, Citigroup has agreed not to acquire, repurchase, or redeem any Citigroup equity or trust preferred securities, other than pursuant to administering its employee benefit plans or other customary exceptions, or with the consent of the U. S. government.", + "See also \u201cSupervision and Regulation.", + "\u201d Tangible Common Equity TCE, as defined by Citigroup, represents Common equity less Goodwill and Intangible assets (other than Mortgage Servicing Rights (MSRs)) net of the related net deferred taxes.", + "Other companies may calculate TCE in a manner different from that of Citigroup.", + "Citi\u2019s TCE was $118.2 billion and $31.1 billion at December 31, 2009 and 2008, respectively.", + "The TCE ratio (TCE divided by risk-weighted assets) was 10.9% and 3.1% at December 31, 2009 and 2008, respectively.", + "A reconciliation of Citigroup\u2019s total stockholders\u2019 equity to TCE follows:", + "|In millions of dollars at year end, except ratios|2009|2008|\n|Total Citigroup stockholders\u2019 equity|$152,700|$141,630|\n|Less:|||\n|Preferred stock|312|70,664|\n|Common equity|$152,388|$70,966|\n|Less:|||\n|Goodwill|25,392|27,132|\n|Intangible assets (other than MSRs)|8,714|14,159|\n|Related net deferred taxes|68|-1,382|\n|Tangible common equity (TCE)|$118,214|$31,057|\n|Tangible assets|||\n|GAAP assets|$1,856,646|$1,938,470|\n|Less:|||\n|Goodwill|25,392|27,132|\n|Intangible assets (other than MSRs)|8,714|14,159|\n|Related deferred tax assets|386|1,285|\n|Tangible assets (TA)|$1,822,154|$1,895,894|\n|Risk-weighted assets (RWA)|$1,088,526|$996,247|\n|TCE/TA ratio|6.49%|1.64%|\n|TCE ratio(TCE/RWA)|10.86%|3.12%|\n", + "Capital Resources of Citigroup\u2019s Depository Institutions Citigroup\u2019s U. S. subsidiary depository institutions are subject to risk-based capital guidelines issued by their respective primary federal bank regulatory agencies, which are similar to the guidelines of the Federal Reserve Board.", + "To be \u201cwell capitalized\u201d under these regulatory definitions, Citigroup\u2019s depository institutions must have a Tier 1 Capital ratio of at least 6%, a Total Capital (Tier 1 Capital + Tier 2 Capital) ratio of at least 10%, and a Leverage ratio of at least 5%, and not be subject to a regulatory directive to meet and maintain higher capital levels.", + "At December 31, 2009, all of Citigroup\u2019s subsidiary depository institutions were \u201cwell capitalized\u201d under federal bank regulatory agency definitions, including Citigroup\u2019s primary depository institution, Citibank, N. A. , as noted in the following table: Citibank, N. A.", + "Components of Capital and Ratios Under Regulatory Guidelines", + "|In billions of dollars at year end|2009|2008|\n|Tier 1 Capital|$96.8|$71.0|\n|Total Capital (Tier 1 Capital and Tier 2 Capital)|110.6|108.4|\n|Tier 1 Capital ratio|13.16%|9.94%|\n|Total Capital ratio|15.03|15.18|\n|Leverage ratio-1|8.31|5.82|\n", + "(1) Tier 1 Capital divided by each period\u2019s quarterly adjusted average total assets.", + "Citibank, N. A. had a $2.8 billion net loss for 2009.", + "In addition, during 2009, Citibank, N. A. received capital contributions from its immediate parent company, Citicorp, in the amount of $33.0 billion.", + "Total subordinated notes issued to Citibank, N. A.", + "\u2019s immediate parent company, Citicorp, included in Citibank, N. A.", + "\u2019s Tier 2 Capital declined from $28.2 billion outstanding at December 31, 2008 to $4.0 billion outstanding at December 31, 2009, reflecting the redemption of $24.2 billion of subordinated notes during 2009.", + "then-current assessment base in the quarter determined by the FDIC.", + "If the FDIC were to adopt this approach, Citi estimates the net impact to Citibank would be approximately $900 million, based on its current assessment base.", + "As an alternative to either of the proposals put forth by the FDIC, in commenting on the FDIC\u9225\u6a9a notice of proposed rulemaking, industry groups recommended that in lieu of any surcharge on large banks, the FDIC maintain the assessment rate framework in effect as of year-end 2015 until the reserve ratio reaches 1.35%, which would be expected to occur by year-end 2019 (and within the timeframe required under the Dodd-Frank Act).", + "It is not certain when the FDIC\u9225\u6a9a proposal will be finalized and what the ultimate impact will be to Citi.", + "Additional Interest Rate Details Average Balances and Interest Rates\u9225\u64dcssets(1)(2)(3)(4)", + "||Average volume|Interest revenue|% Average rate|\n|In millions of dollars, except rates|2015|2014|2013|2015|2014|2013|2015|2014|2013|\n|Assets||||||||||\n|Deposits with banks-5|$133,790|$161,359|$144,904|$727|$959|$1,026|0.54%|0.59%|0.71%|\n|Federal funds sold and securities borrowed or purchased under agreements to resell-6||||||||||\n|In U.S. offices|$150,359|$153,688|$158,237|$1,211|$1,034|$1,133|0.81%|0.67%|0.72%|\n|In offices outside the U.S.-5|84,006|101,177|109,233|1,305|1,332|1,433|1.55|1.32|1.31|\n|Total|$234,365|$254,865|$267,470|$2,516|$2,366|$2,566|1.07%|0.93%|0.96%|\n|Trading account assets-7(8)||||||||||\n|In U.S. offices|$114,639|$114,910|$126,123|$3,945|$3,472|$3,728|3.44%|3.02%|2.96%|\n|In offices outside the U.S.-5|103,348|119,801|127,291|2,141|2,538|2,683|2.07|2.12|2.11|\n|Total|$217,987|$234,711|$253,414|$6,086|$6,010|$6,411|2.79%|2.56%|2.53%|\n|Investments||||||||||\n|In U.S. offices||||||||||\n|Taxable|$214,714|$188,910|$174,084|$3,812|$3,286|$2,713|1.78%|1.74%|1.56%|\n|Exempt from U.S. income tax|20,034|20,386|18,075|443|626|811|2.21|3.07|4.49|\n|In offices outside the U.S.-5|102,376|113,163|114,122|3,071|3,627|3,761|3.00|3.21|3.30|\n|Total|$337,124|$322,459|$306,281|$7,326|$7,539|$7,285|2.17%|2.34%|2.38%|\n|Loans (net of unearned income)(9)||||||||||\n|In U.S. offices|$354,439|$361,769|$354,707|$24,558|$26,076|$25,941|6.93%|7.21%|7.31%|\n|In offices outside the U.S.-5|273,072|296,656|292,852|15,988|18,723|19,660|5.85|6.31|6.71|\n|Total|$627,511|$658,425|$647,559|$40,546|$44,799|$45,601|6.46%|6.80%|7.04%|\n|Other interest-earning assets-10|$55,060|$40,375|$38,233|$1,839|$507|$602|3.34%|1.26%|1.57%|\n|Total interest-earning assets|$1,605,837|$1,672,194|$1,657,861|$59,040|$62,180|$63,491|3.68%|3.72%|3.83%|\n|Non-interest-earning assets-7|$218,000|$224,721|$222,526|||||||\n|Total assets from discontinued operations|\u2014|\u2014|2,909|||||||\n|Total assets|$1,823,837|$1,896,915|$1,883,296|||||||\n", + "Net interest revenue includes the taxable equivalent adjustments related to the tax-exempt bond portfolio (based on the U. S. federal statutory tax rate of 35%) of $487 million, $498 million and $521 million for 2015, 2014 and 2013, respectively.", + "Interest rates and amounts include the effects of risk management activities associated with the respective asset categories.", + "Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.", + "Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations.", + "See Note 2 to the Consolidated Financial Statements.", + "Average rates reflect prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.", + "Average volumes of securities borrowed or purchased under agreements to resell are reported net pursuant to ASC 210-20-45.", + "However, Interest revenue excludes the impact of ASC 210-20-45.", + "The fair value carrying amounts of derivative contracts are reported net, pursuant to ASC 815-10-45, in Non-interest-earning assets and Other non-interest\u0002 bearing liabilities.", + "Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue.", + "Interest revenue and Interest expense on cash collateral positions are reported in interest on Trading account assets and Trading account liabilities, respectively.", + "Includes cash-basis loans.", + "Includes brokerage receivables.", + "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\u2019 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\u2014State Delinquency Trends The following tables set forth the six U. S. states and/or regions with the highest concentration of Citi\u2019s residential first mortgages.", + "|In billions of dollars|December 31, 2015|December 31, 2014|\n|State-1|ENR-2|ENRDistribution|90+DPD%|%LTV >100%-3|RefreshedFICO|ENR-2|ENRDistribution|90+DPD%|%LTV >100%-3|RefreshedFICO|\n|CA|$19.2|37%|0.2%|1%|754|$18.9|31%|0.6%|2%|745|\n|NY/NJ/CT-4|12.7|25|0.8|1|751|12.2|20|1.9|2|740|\n|VA/MD|2.2|4|1.2|2|719|3.0|5|3.0|8|695|\n|IL-4|2.2|4|1.0|3|735|2.5|4|2.5|9|713|\n|FL-4|2.2|4|1.1|4|723|2.8|5|3.0|14|700|\n|TX|1.9|4|1.0|\u2014|711|2.5|4|2.7|\u2014|680|\n|Other|11.0|21|1.3|2|710|18.2|30|3.3|7|677|\n|Total-5|$51.5|100%|0.7%|1%|738|$60.1|100%|2.1%|4%|715|\n", + "Note: Totals may not sum due to rounding.", + "(1) Certain of the states are included as part of a region based on Citi\u2019s 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\u2019s foreclosure inventory consists of residential first mortgages.", + "At December 31, 2015, Citi\u2019s foreclosure inventory included approximately $0.1 billion, or 0.2%, of the total residential first mortgage portfolio, compared to $0.6 billion, or 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 \u2014Net Credit Losses and Delinquencies\u2014Home Equity Loans Citi\u2019s 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\u2019s 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)." + ], + "question_id": "simplong-test-253", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of the Commissions for Year Ended December 31, in the years where Goodwill and other intangible assets, net of deferred tax liabilities is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The Company does not believe that any individual unrealized loss in the available-for-sale or unrecognized loss in the held-to-maturity portfolio as of December 31, 2011 represents a credit loss.", + "The credit loss component is the difference between the security\u2019s amortized cost basis and the present value of its expected future cash flows, and is recognized in earnings.", + "The noncredit loss component is the difference between the present value of its expected future cash flows and the fair value and is recognized through other comprehensive income (loss).", + "The Company assessed whether it intends to sell, or whether it is more likely than not that the Company will be required to sell a security before recovery of its amortized cost basis.", + "For debt securities that are considered other-than-temporarily impaired and that the Company does not intend to sell and will not be required to sell prior to recovery of its amortized cost basis, the Company determines the amount of the impairment that is related to credit and the amount due to all other factors.", + "The majority of the unrealized or unrecognized losses on mortgage-backed securities are attributable to changes in interest rates and a re-pricing of risk in the market.", + "The majority of agency mortgage-backed securities and CMOs, other agency debt securities and agency debentures are AAA-rated.", + "Municipal bonds and corporate bonds are evaluated by reviewing the credit-worthiness of the issuer and general market conditions.", + "The Company does not intend to sell the securities in an unrealized loss position and it is not more likely than not that the Company will be required to sell the debt securities before the anticipated recovery of its remaining amortized cost of the securities in an unrealized loss position at December 31, 2011.", + "The majority of the Company\u2019s available-for-sale and held-to-maturity portfolio consists of residential mortgage-backed securities.", + "For residential mortgage-backed securities, the Company calculates the credit portion of OTTI by comparing the present value of the expected future cash flows with the amortized cost basis of the security.", + "The expected future cash flows are determined using the remaining contractual cash flows adjusted for future credit losses.", + "The estimate of expected future credit losses includes the following assumptions: 1) expected default rates based on current delinquency trends, foreclosure statistics of the underlying mortgages and loan documentation type; 2) expected loss severity based on the underlying loan characteristics, including loan-to-value, origination vintage and geography; and 3) expected loan prepayments and principal reduction based on current experience and existing market conditions that may impact the future rate of prepayments.", + "The expected cash flows of the security are then discounted at the interest rate used to recognize interest income on the security to arrive at the present value amount.", + "The following table presents a summary of the significant inputs considered for securities that were other-than-temporarily impaired as of December 31, 2011:", + "|| December 31, 2011|\n||Weighted Average| Range|\n|Default rate-1|6%|2%|- 21%|\n|Loss severity|51%|40%|- 65%|\n|Prepayment rate|6%|2%|- 15%|\n", + "The following table presents a roll-forward of the credit loss component of the amortized cost of debt securities that have noncredit loss recognized in other comprehensive income (loss) and credit loss recognized in earnings for the periods presented (dollars in thousands):", + "|| Year Ended December 31,|\n|| 2011| 2010| 2009-1|\n|Credit loss balance, beginning of period|$188,038|$150,372|$80,060|\n|Additions:||||\n|Initial credit impairment|61|1,642|11,780|\n|Subsequent credit impairment|14,846|36,024|58,532|\n|Credit loss balance, end of period|$202,945|$188,038|$150,372|\n", + "(1) The Company adopted the amended guidance for the recognition and presentation of OTTI for debt securities on April 1, 2009", + "EARNINGS OVERVIEW 2012 Compared to 2011 We incurred a net loss of $112.6 million, or $(0.39) per diluted share, on total net revenue of $1.9 billion for the year ended December 31, 2012.", + "The net loss for the year ended December 31, 2012 was primarily the result of losses of $256.9 million from the early extinguishment of all the 12 1 ?2 % Springing lien notes and 7 7 ?8 % Notes during 2012.", + "Net operating interest income decreased 11% to $1.1 billion for the year ended December 31, 2012 compared to 2011, which was driven primarily by a decrease in enterprise net interest spread during 2012.", + "Commissions, fees and service charges, principal transactions and other revenue decreased 11% to $630.9 million for the year ended December 31, 2012, compared to 2011, which was driven primarily by a decrease in trading activity during 2012.", + "In addition, gains on loans and securities, net increased 67% to $200.4 million for the year ended December 31, 2012 compared to 2011.", + "We recognized additional gains from securities sold as a result of our continued deleveraging efforts, primarily related to a reduction in wholesale funding obligations, which resulted in losses on early extinguishment of debt of $78.3 million during the year ended December 31, 2012.", + "Provision for loan losses declined 20% to $354.6 million for the year ended December 31, 2012 compared to 2011.", + "The decline was driven primarily by improving credit trends and loan portfolio run-off, offset by an increase of $50 million related to charge-offs associated with newly identified bankruptcy filings during the third quarter of 2012.", + "Total operating expenses decreased 6% to $1.2 billion for the year ended December 31, 2012 compared to 2011.", + "This decrease was driven primarily by decreases in clearing and servicing and other operating expenses, partially offset by an increase in compensation and benefits expense for the year ended December 31, 2012.", + "The following sections describe in detail the changes in key operating factors and other changes and events that affected net revenue, provision for loan losses, operating expense, other income (expense) and income tax expense (benefit).", + "Revenue The components of revenue and the resulting variances are as follows (dollars in millions):", + "||Year Ended December 31,|Variance 2012 vs. 2011|\n||2012|2011|Amount|%|\n|Net operating interest income|$1,085.1|$1,220.0|$-134.9|-11%|\n|Commissions|377.8|436.2|-58.4|-13%|\n|Fees and service charges|122.2|130.4|-8.2|-6%|\n|Principal transactions|93.1|105.4|-12.3|-12%|\n|Gains on loans and securities, net|200.4|120.2|80.2|67%|\n|Net impairment|-16.9|-14.9|-2.0|*|\n|Other revenues|37.8|39.3|-1.5|-4%|\n|Total non-interest income|814.4|816.6|-2.2|-0%|\n|Total net revenue|$1,899.5|$2,036.6|$-137.1|-7%|\n", + "* Percentage not meaningful.", + "Net Operating Interest Income Net operating interest income decreased 11% to $1.1 billion for the year ended December 31, 2012 compared to 2011.", + "Net operating interest income is earned primarily through investing customer cash and deposits in enterprise interest-earning assets, which include: real estate loans, margin receivables, available-for- sale securities and held-to-maturity securitie", + "Net Impairment We recognized $16.9 million and $14.9 million of net impairment during the years ended December 31, 2012 and 2011, respectively, on certain securities in our non-agency CMO portfolio due to continued deterioration in the expected credit performance of the underlying loans in those specific securities.", + "The gross other-than-temporary impairment (\u201cOTTI\u201d) and the noncredit portion of OTTI, which was or had been previously recorded through other comprehensive income (loss), are shown in the table below (dollars in millions):", + "||Year Ended December 31, 2012|2011|\n|Other-than-temporary impairment (\u201cOTTI\u201d)|$-19.8|$-9.2|\n|Less: noncredit portion of OTTI recognized into (out of) other comprehensive income (loss) (before tax)|2.9|-5.7|\n|Net impairment|$-16.9|$-14.9|\n", + "Provision for Loan Losses Provision for loan losses decreased 20% to $354.6 million for the year ended December 31, 2012 compared to 2011.", + "The decrease in provision for loan losses was driven primarily by improving credit trends, as evidenced by the lower levels of delinquent loans in the one- to four-family and home equity loan portfolios, and loan portfolio run-off.", + "The decrease was partially offset by $50 million in charge-offs associated with newly identified bankruptcy filings during the third quarter of 2012, with approximately 80% related to prior years.", + "We utilize third party loan servicers to obtain bankruptcy data on our borrowers and during the third quarter of 2012, we identified an increase in bankruptcies reported by one specific servicer.", + "In researching this increase, we discovered that the servicer had not been reporting historical bankruptcy data on a timely basis.", + "As a result, we implemented an enhanced procedure around all servicer reporting to corroborate bankruptcy reporting with independent third party data.", + "Through this additional process, approximately $90 million of loans were identified in which servicers failed to report the bankruptcy filing to us, approximately 90% of which were current at the end of the third quarter of 2012.", + "As a result, these loans were written down to the estimated current value of the underlying property less estimated selling costs, or approximately $40 million, during the third quarter of 2012.", + "These charge-offs resulted in an increase to provision for loan losses of $50 million for the year ended December 31, 2012.", + "The provision for loan losses has declined four consecutive years, down 78% from its peak of $1.6 billion for the year ended December 31, 2008.", + "We expect provision for loan losses to continue to decline over the long term, although it is subject to variability in any given quarter.", + "capital strength.", + "The Tier 1 common ratio is defined as Tier 1 capital less elements of Tier 1 capital that are not in the form of common equity, such as trust preferred securities, divided by total risk-weighted assets.", + "The following table shows the calculation of the Tier 1 common ratio (dollars in millions):", + "||December 31,|\n||2013|2012|2011|\n|Shareholders\u2019 equity|$4,855.9|$4,904.5|$4,928.0|\n|Deduct:||||\n|Losses in other comprehensive income on available-for-sale debt securities and cash flow hedges, net of tax|-459.0|-315.4|-389.6|\n|Goodwill and other intangible assets, net of deferred tax liabilities|1,654.2|1,899.4|1,947.5|\n|Subtotal|3,660.7|3,320.5|3,370.1|\n|Deduct:||||\n|Disallowed servicing assets and deferred tax assets|1,185.4|1,278.9|1,331.0|\n|Tier 1 common|$2,475.3|$2,041.6|$2,039.1|\n|Total risk-weighted assets|$17,991.9|$19,849.9|$21,668.1|\n|Tier 1 common ratio (Tier 1 common / Total risk-weighted assets)|13.8%|10.3%|9.4%|\n", + "In July 2013, the U. S. Federal banking agencies finalized a rule to implement Basel III in the U. S. , a framework for the calculation and components of a banking organization\u2019s regulatory capital and for calculating a banking organization\u2019s risk-weighted assets.", + "Among other things, the Basel III rule raises the minimum thresholds for required capital and revises certain aspects of the definitions and elements of the capital that can be used to satisfy these required minimum thresholds.", + "While the rules became effective on January 1, 2014 for certain large banking organizations, most U. S. banking organizations, including the Company and E*TRADE Bank, have until January 1, 2015 to begin complying with this new framework, with the fully phased-in Basel III capital standards becoming effective in 2019.", + "We expect to be compliant with the Basel III framework, as it is phased-in.", + "We believe the most relevant elements of the final rule to us relate to the risk-weighting of mortgage loans, which will remain unchanged from current rules, and margin receivables, which will qualify for 0% risk\u0002weighting.", + "In addition, the final rule gives the option for a one-time permanent election for the inclusion or exclusion in the calculation of Common Tier 1 capital of unrealized gains (losses) on all available-for-sale debt securities; we currently intend to elect to exclude unrealized gains (losses).", + "We believe the incorporation of these elements will have a favorable impact on our current capital ratios.", + "On October 9, 2012, regulators issued final rules implementing provisions of the Dodd-Frank Act that require banking organizations with total consolidated assets of more than $10 billion but less than $50 billion to conduct annual company-run stress tests, report the results to their primary federal regulator and the Federal Reserve and publish a summary of the results.", + "Under the rules, stress tests must be conducted using certain scenarios (baseline, adverse and severely adverse), which the Federal Reserve will publish by November 15 of each year.", + "Under the OCC and the Federal Reserve stress test regulations, E*TRADE Bank and the Company, respectively, will be required to conduct stress-testing using the prescribed stress-testing methodologies.", + "The final regulations require E*TRADE Bank to conduct its first stress test using financial statement data as of September 30, 2013, and it will be required to report results to the OCC on or before March 31, 2014.", + "The Company will be required to conduct its first stress test using financial statement data as of September 30, 2016, and it will be required to disclose a summary of its stress test results to the Federal Reserve on or before March 31, 2017.", + "We conducted a company-run stress test for E*TRADE Bank and the Company, which we believe is consistent with the OCC\u2019s and Federal Reserve\u2019s methodologies, respectively, and provided the results to the OCC and the Federal Reserve with the submission of the long-term capital plan in February 2013.", + "We believe that E*TRADE Bank is on schedule to provide the data from its first stress test to the OCC on or before March 31, 2014, as required." + ], + "question_id": "simplong-test-254", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "At December 31, 2015,how much is the Gross Unrealized Gains for Technology Corporate securities less than the Gross Unrealized Gains for Total corporate securities? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Performance Graph The annual changes for the period shown December 1, 2013 (when our ordinary shares began trading) to December 31, 2017 in the graph on this page are based on the assumption that $100 had been invested in Allegion plc ordinary shares, the Standard & Poor\u2019s 500 Stock Index (\"S&P 500\") and the Standard & Poor's 400 Capital Goods Index (\"S&P 400 Capital Goods\") on December 1, 2013, and that all quarterly dividends were reinvested.", + "The total cumulative dollar returns shown on the graph represent the value that such investments would have had on December 31, 2017.", + "||December 1, 2013|December 31, 2013|December 31, 2014|December 31, 2015|December 31, 2016|December 31, 2017|\n|Allegion plc|100.00|102.20|129.03|154.37|150.97|189.19|\n|S&P 500|100.00|102.53|116.57|118.18|132.31|161.20|\n|S&P 400 Capital Goods|100.00|104.58|104.84|99.07|130.70|162.97|\n", + "associated with foreign exchange remeasurement on assets that were transferred under the new structure in Gibraltar Life and will be recognized in earnings over time as these assets mature or are sold.", + "See \u201c\u2014Results of Operations by Segment\u2014International Insurance Division\u201d above.", + "These gains were partially offset by OTTI of $97 million.", + "Net gains on sales and maturities of fixed maturity securities of $736 million in 2014 were primarily due to sales and maturities of U. S. dollar-denominated securities within our International Insurance segment.", + "These gains were partially offset by OTTI of $36 million.", + "See below for information regarding the OTTI of fixed maturity securities in 2015 and 2014.", + "Net realized gains on equity securities were $4 million and $81 million for the years ended 2015 and 2014, respectively, primarily driven by gains on sales within our International Insurance segment.", + "These gains were partially offset by OTTI of $111 million and $26 million for the years ended 2015 and 2014, respectively.", + "See below for additional information regarding the OTTI of equity securities in 2015 and 2014.", + "Net realized gains on commercial mortgage and other loans for the year ended 2015 were $36 million, primarily driven by servicing revenue of $31 million in our Asset Management business and a net decrease in the allowance for losses of $5 million.", + "Net realized gains on commercial mortgage and other loans were $79 million for the year ended 2014 were primarily driven by a net decrease in the allowance for losses of $65 million, including the impact of assumption updates.", + "For additional information regarding our commercial mortgage and other allowance for losses, see \u201c\u2014General Account Investments\u2014Commercial Mortgage and Other Loans\u2014Commercial Mortgage and Other Loan Quality\u201d below.", + "Net realized gains on derivatives were $1,775 million in 2015, compared to net realized losses of $445 million in 2014.", + "The net gains in 2015 primarily reflect $995 million of gains on product related embedded derivatives and related hedge positions mainly associated with certain variable annuity contracts, $326 million of gains on interest rate derivatives used to manage duration as interest rates decreased, $345 million of gains on foreign currency derivatives used to hedge foreign denominated investments as the U. S. dollar strengthened against various currencies, and $159 million of gains primarily representing fees earned on fee-based synthetic guaranteed investment contracts (\u201cGICs\u201d) which are accounted for as derivatives.", + "The net derivative losses in 2014 primarily reflect net losses of $2,627 million on product related embedded derivatives and related hedge positions mainly associated with certain variable annuity contracts.", + "Also, contributing were net losses of $500 million on foreign currency derivatives used to hedge portfolio assets in our Japan business, primarily due to the weakening of the Japanese yen against the U. S. dollar and other currencies.", + "These losses were partially offset by gains of $1,502 million on interest rate derivatives used to manage duration as long-term interest rates decreased, $869 million gains on other foreign currency derivatives primarily associated with hedges of portfolio assets in our U. S. business and hedges of future income of non-U.", + "S. businesses (predominantly in Japan) as the U. S. dollar strengthened against various currencies, and $166 million gains of fees earned on fee-based synthetic GICs.", + "Net realized losses within other investments were $54 million in 2015 primarily driven by OTTI of $121 million on investments in limited partnerships, partially offset by gains of $40 million, on sales of real estate.", + "Net realized gains on other investments were $7 million in 2014 and included net gains of $28 million, primarily from our Asset Management and International Insurance segments, partially offset by OTTI of $21 million on real estate and joint ventures and partnership investments.", + "Related adjustments include the portions of \u201cRealized investment gains (losses), net\u201d that are included in adjusted operating income and the portions of \u201cOther income\u201d and \u201cNet investment income\u201d that are excluded from adjusted operating income.", + "These adjustments are made to arrive at \u201cRealized investment gains (losses), net, and related adjustments\u201d which are excluded from adjusted operating income.", + "Results for 2015 include net negative related adjustments of $934 million driven by settlements on interest rate and currency derivatives.", + "Results for 2014 included net negative related adjustments of $4,063 million driven by the impact of foreign currency exchange rate movements on certain non-yen denominated assets and liabilities within our Japan insurance operations and by settlements on interest rate and currency derivatives.", + "We implemented a structure in Gibraltar Life, effective for financial reporting beginning in the first quarter of 2015, which has minimized volatility in reported U. S. GAAP earnings arising from foreign currency remeasurement.", + "For additional information, see \u201c\u2014Results of Operations by Segment\u2014International Insurance Division\u201d above.", + "Charges that relate to \u201cRealized investment gains (losses), net\u201d are also excluded from adjusted operating income, and may be reflected as net charges or net benefits.", + "Results for 2015 include net related charges of $679 million, compared to net related charges of $542 million in 2014.", + "Both periods\u2019 results were driven by the impact of derivative activity on the amortization of DAC and other costs and certain policyholder reserves.", + "For additional information, see Note 22 to the Consolidated Financial Statements.", + "During 2015, we recorded OTTI of $329 million in earnings, compared to $83 million in 2014.", + "The following tables set forth, for the periods indicated, the composition of OTTI recorded in earnings attributable to the PFI excluding the Closed Block division by asset type, and for fixed maturity securities, by reason.", + "||Year Ended December 31,|\n||2015|2014|\n||(in millions)|\n|OTTI recorded in earnings\u2014PFI excluding Closed Block Division-1|||\n|Public fixed maturity securities|$31|$22|\n|Private fixed maturity securities|66|14|\n|Total fixed maturity securities|97|36|\n|Equity securities|111|26|\n|Other invested assets-2|121|21|\n|Total|$329|$83|\n", + "(1) Excludes the portion of OTTI recorded in \u201cOther comprehensive income (loss),\u201d representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of impairment.", + "(2) Includes OTTI relating to investments in joint ventures and partnerships and real estate investments.", + "Fixed Maturity Securities and Unrealized Gains and Losses by Industry Category The following table sets forth the composition of the portion of our fixed maturity securities portfolio by industry category attributable to PFI excluding the Closed Block division as of the dates indicated and the associated gross unrealized gains (losses).", + "||December 31, 2015|December 31, 2014|\n|Industry-1|AmortizedCost|GrossUnrealizedGains-2|GrossUnrealizedLosses-2|FairValue|AmortizedCost|GrossUnrealizedGains-2|GrossUnrealizedLosses-2|FairValue|\n||(in millions)|\n|Corporate securities:|||||||||\n|Finance|$21,505|$1,385|$224|$22,666|$20,569|$1,984|$55|$22,498|\n|Consumer non-cyclical|20,732|2,073|408|22,397|20,956|2,822|141|23,637|\n|Utility|17,369|1,423|393|18,399|16,144|2,149|82|18,211|\n|Capital goods|10,503|978|241|11,240|10,170|1,348|67|11,451|\n|Consumer cyclical|9,223|846|146|9,923|9,447|1,129|37|10,539|\n|Foreign agencies|5,222|1,086|67|6,241|5,186|1,227|38|6,375|\n|Energy|10,793|674|855|10,612|11,395|1,135|275|12,255|\n|Communications|6,294|690|200|6,784|6,465|1,021|41|7,445|\n|Basic industry|5,658|404|321|5,741|6,003|640|71|6,572|\n|Transportation|6,536|605|105|7,036|5,718|769|18|6,469|\n|Technology|3,459|278|72|3,665|3,474|389|30|3,833|\n|Industrial other|3,547|245|73|3,719|2,746|333|21|3,058|\n|Total corporate securities|120,841|10,687|3,105|128,423|118,273|14,946|876|132,343|\n|Foreign government-3|72,265|12,167|131|84,301|70,327|11,286|111|81,502|\n|Residential mortgage-backed|4,861|353|6|5,208|5,747|466|4|6,209|\n|Asset-backed securities-4|6,873|195|69|6,999|7,094|292|78|7,308|\n|Commercial mortgage-backed|7,300|160|37|7,423|9,688|344|24|10,008|\n|U.S. Government|11,479|2,900|11|14,368|11,493|3,468|5|14,956|\n|State & Municipal-5|7,661|675|39|8,297|5,163|693|3|5,853|\n|Total-6|$231,280|$27,137|$3,398|$255,019|$227,785|$31,495|$1,101|$258,179|\n", + "(1) Investment data has been classified based on standard industry categorizations for domestic public holdings and similar classifications by industry for all other holdings.", + "(2) Includes $316 million of gross unrealized gains and $0 million of gross unrealized losses as of December 31, 2015, compared to $328 million of gross unrealized gains and $1 million of gross unrealized losses as of December 31, 2014, on securities classified as held-to-maturity.", + "(3) As of both December 31, 2015 and 2014, based on amortized cost, 76% represent Japanese government bonds held by our Japanese insurance operations, with no other individual country representing more than 10% of the balance.", + "(4) Includes securities collateralized by sub-prime mortgages.", + "See \u201c\u2014Asset-Backed Securities\u201d below.", + "(5) Includes securities related to the Build America Bonds program.", + "(6) Excluded from the table above are securities held outside the general account in other entities and operations.", + "For additional information regarding investments held outside the general account, see \u201c\u2014Invested Assets of Other Entities and Operations\u201d below.", + "Also excluded from the table above are fixed maturity securities classified as trading.", + "See \u201c\u2014Trading Account Assets Supporting Insurance Liabilities\u201d and \u201c\u2014Other Trading Account Assets\u201d for additional information.", + "The decrease in net unrealized gains from December 31, 2014 to December 31, 2015, was primarily due to a net decrease in fair value driven by an increase in interest rates in the U. S. and credit spread widening.", + "As of December 31, 2015, PFI excluding the Closed Block division had direct and indirect energy and related exposure with a market value of approximately $13.4 billion, and a net unrealized loss of approximately $0.2 billion, which is reflected in AOCI.", + "The exposure was primarily through public and private corporate securities, 87% of which are investment grade, and also included trading assets, equity securities and private equity investments.", + "OTTI related to investments in the energy sector were $79 million for the year ended December 31, 2015, and we could be exposed to future valuation declines or impairments if energy prices remain at current or lower levels for an extended period of time." + ], + "question_id": "simplong-test-255", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Office for Nonperforming Loans andForeclosed Properties-1 develops with the same growth rate in 2011 what will it reach in 2012? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PART II ITEM 5.", + "MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES The following table presents reported quarterly high and low per share sale prices of our common stock on the NYSE for the years 2015 and 2014.", + "|2015|High|Low|\n|Quarter ended March 31|$101.88|$93.21|\n|Quarter ended June 30|98.64|91.99|\n|Quarter ended September 30|101.54|86.83|\n|Quarter ended December 31|104.12|87.23|\n|2014|High|Low|\n|Quarter ended March 31|$84.90|$78.38|\n|Quarter ended June 30|90.73|80.10|\n|Quarter ended September 30|99.90|89.05|\n|Quarter ended December 31|106.31|90.20|\n", + "On February 19, 2016, the closing price of our common stock was $87.32 per share as reported on the NYSE.", + "As of February 19, 2016, we had 423,897,556 outstanding shares of common stock and 159 registered holders.", + "Dividends As a REIT, we must annually distribute to our stockholders an amount equal to at least 90% of our REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain).", + "Generally, we have distributed and expect to continue to distribute all or substantially all of our REIT taxable income after taking into consideration our utilization of net operating losses (\u201cNOLs\u201d).", + "We have two series of preferred stock outstanding, 5.25% Mandatory Convertible Preferred Stock, Series A, issued in May 2014 (the \u201cSeries A Preferred Stock\u201d), with a dividend rate of 5.25%, and the 5.50% Mandatory Convertible Preferred Stock, Series B (the \u201cSeries B Preferred Stock\u201d), issued in March 2015, with a dividend rate of 5.50%.", + "Dividends are payable quarterly in arrears, subject to declaration by our Board of Directors.", + "The amount, timing and frequency of future distributions will be at the sole discretion of our Board of Directors and will be dependent upon various factors, a number of which may be beyond our control, including our financial condition and operating cash flows, the amount required to maintain our qualification for taxation as a REIT and reduce any income and excise taxes that we otherwise would be required to pay, limitations on distributions in our existing and future debt and preferred equity instruments, our ability to utilize NOLs to offset our distribution requirements, limitations on our ability to fund distributions using cash generated through our TRSs and other factors that our Board of Directors may deem relevant.", + "We have distributed an aggregate of approximately $2.3 billion to our common stockholders, including the dividend paid in January 2016, primarily subject to taxation as ordinary income.", + "During the year ended December 31, 2015, we declared the following cash distributions:", + "Our total non-U.", + "S. exposure was $232.6 billion at December 31, 2011, a decrease of $29.4 billion from December 31, 2010.", + "Our non-U.", + "S. exposure remained concentrated in Europe which accounted for $115.9 billion, or 50 percent, of total non-U.", + "S. exposure.", + "The European exposure was mostly in Western Europe and was distributed across a variety of industries.", + "The decrease of $32.2 billion in Europe was primarily driven by our efforts to reduce risk in countries affected by the ongoing debt crisis in the Eurozone.", + "Select European countries are further detailed in Table 54.", + "Asia Pacific was our second largest non-U.", + "S. exposure at $74.6 billion, or 32 percent.", + "The $1.3 billion increase in Asia Pacific was driven by increases in securities and local exposure in Japan and increases in the emerging markets, predominately in local exposure, loans and securities offset by the sale of CCB shares.", + "For more information on our CCB investment, see Note 5 \u2013 Securities to the Consolidated Financial Statements.", + "Latin America accounted for $17.4 billion, or seven percent, of total non-U.", + "S. exposure.", + "The $2.6 billion increase in Latin America was primarily driven by an increase in Brazil in securities and local country exposure.", + "Middle East and Africa increased $926 million to $4.6 billion, representing two percent of total non-U.", + "S. exposure.", + "Other non-U.", + "S. exposure was $20.1 billion at December 31, 2011, a decrease of $2.1 billion in 2011 resulting primarily from a decrease in local exposure as a result of the sale of our Canadian consumer card business.", + "For more information on our Asia Pacific and Latin America exposure, see non-U.", + "S. exposure to selected countries defined as emerging markets on page 100.", + "Table 52 presents countries where total cross-border exposure exceeded one percent of our total assets.", + "At December 31, 2011, the United Kingdom and Japan were the only countries where total cross-border exposure exceeded one percent of our total assets.", + "At December 31, 2011, Canada and France had total cross-border exposure of $16.9 billion and $16.1 billion representing 0.79 percent and 0.75 percent of total assets.", + "Canada and France were the only other countries that had total cross-border exposure that exceeded 0.75 percent of our total assets at December 31, 2011.", + "Exposure includes cross-border claims by our non-U.", + "S. offices including loans, acceptances, time deposits placed, trading account assets, securities, derivative assets, other interest\u0002earning investments and other monetary assets.", + "Amounts also include unused commitments, SBLCs, commercial letters of credit and formal guarantees.", + "Sector definitions are consistent with FFIEC reporting requirements for preparing the Country Exposure Report.", + "|Table 52|Total Cross-border Exposure Exceeding One Percent of Total Assets-1|\n|(Dollars in millions)|December 31|Public Sector|Banks|Private Sector|Cross-borderExposure|Exposure as aPercentage ofTotal Assets|\n|United Kingdom|2011|$6,401|$4,424|$18,056|$28,881|1.36%|\n||2010|101|5,544|32,354|37,999|1.68|\n|Japan-2|2011|4,603|10,383|8,060|23,046|1.08|\n", + "(1) Total cross-border exposure for the United Kingdom and Japan included derivatives exposure of $5.9 billion and $3.5 billion at December 31, 2011 and $2.3 billion and $2.8 billion at December 31, 2010 which has been reduced by the amount of cash collateral applied of $9.3 billion and $1.2 billion at December 31, 2011 and $13.0 billion and $1.6 billion at December 31, 2010.", + "Derivative assets were collateralized by other marketable securities of $242 million and $1.7 billion at December 31, 2011 and $96 million and $743 million at December 31, 2010.", + "(2) At December 31, 2010, total cross-border exposure for Japan was $17.0 billion, representing 0.75 percent of total assets.", + "Tables 43 and 44 present commercial real estate credit quality data by non-homebuilder and homebuilder property types.", + "The homebuilder portfolio presented in Tables 42, 43 and 44 includes condominiums and other residential real estate.", + "Other property types in Tables 42, 43 and 44 primarily include special purpose, nursing/retirement homes, medical facilities and restaurants, as well as unsecured loans to borrowers whose primary business is commercial real estate.", + "Table 43 Commercial Real Estate Credit Quality Data", + "|Table 43|Commercial Real Estate Credit Quality Data December 31|\n||Nonperforming Loans andForeclosed Properties-1|Utilized ReservableCriticized Exposure-2|\n|(Dollars in millions)|2011|2010|2011|2010|\n|Non-homebuilder|||||\n|Office|$807|$1,061|$2,375|$3,956|\n|Multi-family rental|339|500|1,604|2,940|\n|Shopping centers/retail|561|1,000|1,378|2,837|\n|Industrial/warehouse|521|420|1,317|1,878|\n|Multi-use|345|483|971|1,316|\n|Hotels/motels|173|139|716|1,191|\n|Land and land development|530|820|749|1,420|\n|Other|223|168|997|1,604|\n|Total non-homebuilder|3,499|4,591|10,107|17,142|\n|Homebuilder|993|1,963|1,418|3,376|\n|Total commercial real estate|$4,492|$6,554|$11,525|$20,518|\n", + "Table 44 Commercial Real Estate Net Charge-offs and Related Ratios", + "|Table 44|Commercial Real Estate Net Charge-offs and Related Ratios|\n||Net Charge-offs|Net Charge-off Ratios-1|\n|(Dollars in millions)|2011|2010|2011|2010|\n|Non-homebuilder|||||\n|Office|$126|$273|1.51%|2.49%|\n|Multi-family rental|36|116|0.52|1.21|\n|Shopping centers/retail|184|318|2.69|3.56|\n|Industrial/warehouse|88|59|1.94|1.07|\n|Multi-use|61|143|1.63|2.92|\n|Hotels/motels|23|45|0.86|1.02|\n|Land and land development|152|377|7.58|13.04|\n|Other|19|220|0.33|3.14|\n|Total non-homebuilder|689|1,551|1.67|2.86|\n|Homebuilder|258|466|8.00|8.26|\n|Total commercial real estate|$947|$2,017|2.13|3.37|\n", + "(1) Net charge-off ratios are calculated as net charge-offs divided by average outstanding loans excluding loans accounted for under the fair value option.", + "At December 31, 2011, total committed non-homebuilder exposure was $53.1 billion compared to $64.2 billion at December 31, 2010, with the decrease due to exposure reductions in all non-homebuilder property types.", + "Non-homebuilder nonperforming loans and foreclosed properties were $3.5 billion and $4.6 billion at December 31, 2011 and 2010, which represented 9.29 percent and 10.08 percent of total non\u0002homebuilder loans and foreclosed properties.", + "Non-homebuilder utilized reservable criticized exposure decreased to $10.1 billion, or 25.34 percent of non-homebuilder utilized reservable exposure, at December 31, 2011 compared to $17.1 billion, or 35.55 percent, at December 31, 2010.", + "The decrease in reservable criticized exposure was driven primarily by office, shopping centers/retail and multi-family rental property types.", + "For the non\u0002homebuilder portfolio, net charge-offs decreased $862 million in 2011 due in part to resolution of criticized assets through payoffs and sales.", + "At December 31, 2011, we had committed homebuilder exposure of $3.9 billion compared to $6.0 billion at December 31, 2010, of which $2.4 billion and $4.3 billion were funded secured loans.", + "The decline in homebuilder committed exposure was due to repayments, net charge-offs, reductions in new home construction and continued risk mitigation initiatives with market conditions providing fewer origination opportunities to offset the reductions.", + "Homebuilder nonperforming loans and foreclosed properties decreased $970 million due to repayments, a decline in the volume of loans being downgraded to nonaccrual status and net charge-offs.", + "Homebuilder utilized reservable criticized exposure decreased $2.0 billion to $1.4 billion due to repayments and net charge-offs.", + "The nonperforming loans, leases and foreclosed properties and the utilized reservable criticized ratios for the homebuilder portfolio were 38.89 percent and 54.65 percent at December 31, 2011 compared to 42.80 percent and 74.27 percent at December 31, 2010.", + "Net charge-offs for the homebuilder portfolio decreased $208 million in 2011.", + "Capital Management During 2015, we repurchased approximately $2.4 billion of common stock, with an average price of $16.92 per share, in connection with our 2015 Comprehensive Capital Analysis and Review (CCAR) capital plan, which included a request to repurchase $4.0 billion of common stock over five quarters beginning in the second quarter of 2015, and to maintain the quarterly common stock dividend at the current rate of $0.05 per share.", + "Based on the conditional non-objection we received from the Federal Reserve on our 2015 CCAR submission, we were required to resubmit our CCAR capital plan by September 30, 2015 and address certain weaknesses the Federal Reserve identified in our capital planning process.", + "We have established plans and taken actions which addressed the identified weaknesses, and we resubmitted our CCAR capital plan on September 30, 2015.", + "The Federal Reserve announced that it did not object to our resubmitted CCAR capital plan on December 10, 2015.", + "As an Advanced approaches institution, under Basel 3, we were required to complete a qualification period (parallel run) to demonstrate compliance with the Basel 3 Advanced approaches capital framework to the satisfaction of U. S. banking regulators.", + "We received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015.", + "As previously disclosed, with the approval to exit parallel run, U. S. banking regulators requested modifications to certain internal analytical models including the wholesale (e. g. , commercial) credit models.", + "All requested modifications were incorporated, which increased our risk-weighted assets, and are reflected in the risk-based ratios in the fourth quarter of 2015.", + "Having exited parallel run on October 1, 2015, we are required to report regulatory risk-based capital ratios and risk-weighted assets under both the Standardized and Advanced approaches.", + "The approach that yields the lower ratio is used to assess capital adequacy including under the Prompt Corrective Action (PCA) framework and was the Advanced approaches in the fourth quarter of 2015.", + "For additional information, see Capital Management on page 51.", + "Trust Preferred Securities On December 29, 2015, the Corporation provided notice of the redemption on January 29, 2016 of all trust preferred securities of Merrill Lynch Preferred Capital Trust III, Merrill Lynch Preferred Capital Trust IV and Merrill Lynch Preferred Capital Trust V (the Trust Preferred Securities).", + "In connection with the Corporation\u2019s acquisition of Merrill Lynch & Co. , Inc. in 2009, the Corporation recorded a discount to par value as purchase accounting adjustments associated with the Trust Preferred Securities.", + "The Corporation recorded a $612 million charge to net interest income related to the discount on these securities.", + "New Accounting Guidance on Recognition and Measurement of Financial Instruments In January 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance on recognition and measurement of financial instruments.", + "The Corporation has early adopted, retrospective to January 1, 2015, the provision that requires the Corporation to present unrealized gains and losses resulting from changes in the Corporation\u2019s own credit spreads on liabilities accounted for under the fair value option (referred to as debit valuation adjustments, or DVA) in accumulated other comprehensive income (OCI).", + "The impact of the adoption was to reclassify, as of January 1, 2015, unrealized DVA losses of $2.0 billion pretax ($1.2 billion after tax) from retained earnings to accumulated OCI.", + "Further, pretax unrealized DVA gains of $301 million, $301 million and $420 million were reclassified from other income to accumulated OCI for the third, second and first quarters of 2015, respectively.", + "This had the effect of reducing net income as previously reported for the aforementioned quarters by $187 million, $186 million and $260 million, or approximately $0.02 per share in each quarter.", + "This change is reflected in consolidated results and the Global Markets segment results.", + "Results for 2014 were not subject to restatement under the provisions of the new accounting guidance.", + "Selected Financial Data Table 1 provides selected consolidated financial data for 2015 and 2014." + ], + "question_id": "simplong-test-256", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of all amount that are smaller than 100 to the sum of amount, in 2008? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTE 19 SHAREHOLDERS\u2019 EQUITY Preferred Stock Information related to preferred stock is as follows:", + "|||Preferred Shares|\n|December 31Shares in thousands|Liquidationvalue per share| 2008|2007|\n|Authorized||||\n|$1 par value|| 16,960|16,985|\n|Issued and outstanding||||\n|Series A|$40| 6|7|\n|Series B|40| 1|1|\n|Series C|20| 119|128|\n|Series D|20| 171|186|\n|Series K|10,000| 50||\n|Series L|100,000| 2||\n|Series N|100,000| 76||\n|Total issued and outstanding|| 425|322|\n", + "On December 31, 2008, we issued $7.6 billion of Fixed Rate Cumulative Perpetual Preferred Stock, Series N, to the US Treasury under the US Treasury\u2019s Troubled Asset Relief Program (\u201cTARP\u201d) Capital Purchase Program, together with a warrant to purchase shares of common stock of PNC described below.", + "Series N dividends are payable on the 15th of February, May, August and November beginning February 15, 2009.", + "Dividends will be paid at a rate of 5.00% through February 15, 2014 and 9.00% thereafter.", + "This preferred stock is redeemable at par plus accrued and unpaid dividends subject to the approval of our primary banking regulators.", + "Under the TARP Capital Purchase Program, there are restrictions on common and preferred dividends and common share repurchases associated with the preferred stock issued to the US Treasury.", + "As is typical with cumulative preferred stock, dividend payments for this preferred stock must be current before dividends can be paid on junior shares, including our common stock, or junior shares can be repurchased or redeemed.", + "Also, the US Treasury\u2019s consent is required for any increase in common dividends per share above the most recent level prior to October 14, 2008 until the third anniversary of the preferred stock issuance as long as the US Treasury continues to hold any of the preferred stock.", + "Further, during that same period, the US Treasury\u2019s consent is required, unless the preferred stock is no longer held by the US Treasury, for any share repurchases with limited exceptions, most significantly purchases of common shares in connection with any benefit plan in the ordinary course of business consistent with past practice.", + "As part of the National City transaction, we issued 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L in exchange for National City\u2019s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F. Dividends are payable if and when declared each 1st of February, May, August and November.", + "Dividends will be paid at a rate of 9.875% prior to February 1, 2013 and at a rate of three-month LIBOR plus 633 basis points beginning February 1, 2013.", + "The Series L is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after February 1, 2013 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "Also as part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M, which mirrors in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. PNC has designated 5,751preferred shares, liquidation value $100,000 per share, for this series.", + "No shares have yet been issued; however, National City issued stock purchase contracts for 5,001 shares of its Series E Preferred Stock (now replaced by the PNC Series M as part of the National City transaction) to the National City Preferred Capital Trust I in connection with the issuance by that Trust of $500 million of 12.000% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the \u201cNormal APEX Securities\u201d) in January 2008 by the Trust.", + "It is expected that the Trust will purchase 5,001 of the Series M preferred shares pursuant to these stock purchase contracts on December 10, 2012 or on an earlier date and possibly as late as December 10, 2013.", + "The Trust has pledged the $500,100,000 principal amount of National City 8.729% Junior Subordinated Notes due 2043 held by the Trust and their proceeds to secure this purchase obligation.", + "If Series M shares are issued prior to December 10, 2012, any dividends on such shares will be calculated at a rate per annum equal to 12.000% until December 10, 2012, and thereafter, at a rate per annum that will be reset quarterly and will equal three-month LIBOR for the related dividend period plus 8.610%.", + "Dividends will be payable if and when declared by the Board at the dividend rate so indicated applied to the liquidation preference per share of the Series M Preferred Stock.", + "The Series M is redeemable at PNC\u2019s option, subject to a replacement capital covenant for the first ten years after issuance and subject to Federal Reserve approval, if then applicable, on or after December 10, 2012 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "As a result of the National City transaction, we assumed National City\u2019s obligations under replacement capital covenants with respect to (i) the Normal APEX Securities and our Series M shares and (ii) National City\u2019s 6,000,000 of Depositary Shares (each representing 1/4000th of an interest in a share of our 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L), whereby we agreed not to cause the redemption or repurchase of the Normal APEX or Depositary Shares, as applicable, or the underlying Preferred Stock and/or junior subordinated notes, as applicable, unless such repurchases or redemptions are made from the proceeds of the issuance of certain qualified securities and pursuant to the other terms and conditions set", + "amount of unrecognized tax benefit related to permanent differences because a portion of those unrecognized benefits relate to state tax matters.", + "It is reasonably possible that the liability for uncertain tax positions could increase or decrease in the next twelve months due to completion of tax authorities\u2019 exams or the expiration of statutes of limitations.", + "Management estimates that the liability for uncertain tax positions could decrease by $5 million within the next twelve months.", + "The consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries through 2003 have been audited by the Internal Revenue Service and we have resolved all disputed matters through the IRS appeals division.", + "The Internal Revenue Service is currently examining the 2004 through 2006 consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries.", + "The consolidated federal income tax returns of National City Corporation and subsidiaries through 2004 have been audited by the Internal Revenue Service and we have reached agreement in principle on resolution of all disputed matters through the IRS appeals division.", + "However, because the agreement is still subject to execution of a closing agreement we have not treated it as effectively settled.", + "The Internal Revenue Service is currently examining the 2005 through 2007 consolidated federal income tax returns of National City Corporation and subsidiaries, and we expect the 2008 federal income tax return to begin being audited as soon as it is filed.", + "New York, New Jersey, Maryland and New York City are principally where we were subject to state and local income tax prior to our acquisition of National City.", + "The state of New York is currently in the process of closing the 2002 to 2004 audit and will begin auditing the years 2005 and 2006.", + "New York City is currently auditing 2004 and 2005.", + "However, years 2002 and 2003 remain subject to examination by New York City pending completion of the New York state audit.", + "Through 2006, BlackRock is included in our New York and New York City combined tax filings and constituted most of the tax liability.", + "Years subsequent to 2004 remain subject to examination by New Jersey and years subsequent to 2005 remain subject to examination by Maryland.", + "National City was principally subject to state and local income tax in California, Florida, Illinois, Indiana, and Missouri.", + "Audits currently in process for these states include: California (2003-2004), Illinois (2004-2006) and Missouri (2003-2005).", + "We will now also be principally subject to tax in those states.", + "In the ordinary course of business we are routinely subject to audit by the taxing authorities of these states and at any given time a number of audits will be in process.", + "Our policy is to classify interest and penalties associated with income taxes as income taxes.", + "At January 1, 2008, we had accrued $91 million of interest related to tax positions, most of which related to our cross-border leasing transactions.", + "The total accrued interest and penalties at December 31, 2008 was $164 million.", + "While the leasing related interest decreased with a payment to the IRS, the $73 million net increase primarily resulted from our acquisition of National City.", + "NOTE 22 SUMMARIZED FINANCIAL INFORMATION OF BLACKROCK As required by SEC Regulation S-X, summarized consolidated financial information of BlackRock follows (in millions).", + "|December 31|2008|2007|\n|Total assets|$19,924|$22,561|\n|Total liabilities|$7,367|$10,387|\n|Non-controlling interest|491|578|\n|Stockholders\u2019 equity|12,066|11,596|\n|Total liabilities, non-controlling interest and stockholders\u2019 equity|$19,924|$22,561|\n|Year ended December 31|2008|2007|\n|Total revenue|$5,064|$4,845|\n|Total expenses|3,471|3,551|\n|Operating income|1,593|1,294|\n|Non-operating income (expense)|-574|529|\n|Income before income taxes and non-controlling interest|1,019|1,823|\n|Income taxes|388|464|\n|Non-controlling interest|-155|364|\n|Net income|$786|$995|\n", + "NOTE 23 REGULATORY MATTERS We are subject to the regulations of certain federal and state agencies and undergo periodic examinations by such regulatory authorities.", + "The access to and cost of funding new business initiatives including acquisitions, the ability to pay dividends, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in large part, on a financial institution\u2019s capital strength.", + "The minimum US regulatory capital ratios are 4% for tier 1 risk-based, 8% for total risk\u0002based and 4% for leverage.", + "However, regulators may require higher capital levels when particular circumstances warrant.", + "To qualify as \u201cwell capitalized,\u201d regulators require banks to maintain capital ratios of at least 6% for tier 1 risk-based, 10% for total risk-based and 5% for leverage.", + "At December 31, 2008 and December 31, 2007, each of our domestic bank subsidiaries met the \u201cwell capitalized\u201d capital ratio requirements.", + "We recorded such loans at estimated fair value and considered them to be performing, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), since certain purchase accounting adjustments will be accreted to interest income over time.", + "The accretion will represent the discount associated with the difference between the expected cash flows and estimated fair value of the loans.", + "This accounting treatment resulted in the return to performing status of $3.2 billion of loans previously classified as nonperforming by National City.", + "The purchase accounting adjustments were estimated as of December 31, 2008 and such estimates may be refined during the first quarter of 2009.", + "At December 31, 2008, our largest nonperforming asset was approximately $36 million and our average nonperforming loan associated with commercial lending was less than $1 million.", + "The amount of nonperforming loans that was current as to principal and interest was $555 million at December 31, 2008 and $178 million at December 31, 2007.", + "Accruing Loans Past Due 90 Days Or More- Summary", + "|| Amount| Percent of Total Outstandings|\n|Dollars in millions| Dec. 31 2008 (a)|Dec. 312007|Dec. 31 2008 (a)|Dec. 312007|\n|Commercial|$97|$14|.14%|.05%|\n|Commercial real estate|723|18|2.81|.20|\n|Equipment lease financing|2||.03||\n|Consumer|419|49|.80|.27|\n|Residential real estate|2,011|43|9.32|.45|\n|Other|7|12|.37|2.91|\n|Total|$3,259|$136|1.86%|.20%|\n", + "(a) Amounts include the impact of National City.", + "Loans that are not included in nonperforming or past due categories but cause us to be uncertain about the borrower\u2019s ability to comply with existing repayment terms over the next six months totaled $745 million at December 31, 2008, compared with $134 million at December 31, 2007.", + "Allowances For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit We maintain an allowance for loan and lease losses to absorb losses from the loan portfolio.", + "We determine the allowance based on quarterly assessments of the probable estimated losses inherent in the loan portfolio.", + "While we make allocations to specific loans and pools of loans, the total reserve is available for all loan and lease losses.", + "In addition to the allowance for loan and lease losses, we maintain an allowance for unfunded loan commitments and letters of credit.", + "We report this allowance as a liability on our Consolidated Balance Sheet.", + "We determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures.", + "This methodology is similar to the one we use for determining the adequacy of our allowance for loan and lease losses.", + "We refer you to Note 5 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report regarding changes in the allowance for loan and lease losses and in the allowance for unfunded loan commitments and letters of credit.", + "Also see the Allocation Of Allowance For Loan And Lease Losses table in the Statistical Information (Unaudited) section of Item 8 of this Report for additional information included herein by reference.", + "We establish specific allowances for loans considered impaired using a method prescribed by SFAS 114, \u201cAccounting by Creditors for Impairment of a Loan.", + "\u201d All impaired loans except leases and large groups of smaller\u0002balance homogeneous loans which may include but are not limited to credit card, residential mortgage, and consumer installment loans are subject to SFAS 114 analysis.", + "Specific allowances for individual loans over a set dollar threshold are determined by our Special Asset Committee based on an analysis of the present value of expected future cash flows from the loans discounted at their effective interest rate, observable market price, or the fair value of the underlying collateral.", + "We establish specific allowance on all other impaired loans based on the loss given default credit risk rating.", + "Allocations to non-impaired commercial and commercial real estate loans (pool reserve allocations) are assigned to pools of loans as defined by our business structure and are based on internal probability of default and loss given default credit risk ratings.", + "Key elements of the pool reserve methodology include: ?", + "Probability of default (\u201cPD\u201d), which is primarily based on historical default analyses and is derived from the borrower\u2019s internal PD credit risk rating; ?", + "Exposure at default (\u201cEAD\u201d), which is derived from historical default data; and ?", + "Loss given default (\u201cLGD\u201d), which is based on historical loss data, collateral value and other structural factors that may affect our ultimate ability to collect on the loan and is derived from the loan\u2019s internal LGD credit risk rating.", + "Our pool reserve methodology is sensitive to changes in key risk parameters such as PDs, LGDs and EADs.", + "In general, a given change in any of the major risk parameters will have a corresponding change in the pool reserve allocations for non-impaired commercial loans.", + "Our commercial loans are the largest category of credits and are most sensitive to changes in the key risk parameters and pool reserve loss rates.", + "To illustrate, if we increase the pool reserve loss rates by 5% for all categories of non-impaired commercial loans, then the" + ], + "question_id": "simplong-test-257", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the increase in rent expense from 2008 to 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||Year Ended December 31,|\n||2011|2010|2009|\n|Risk-free interest rate|1.2%|1.4%|1.7%|\n|Expected life (in years)|3.8|3.4|3.8|\n|Dividend yield|\u2014%|\u2014%|\u2014%|\n|Expected volatility|38%|37%|47%|\n", + "Our computation of expected volatility for 2011 , 2010 and 2009 was based on a combination of historical and market-based implied volatility from traded options on our stock.", + "Our computation of expected life was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior.", + "The interest rate for periods within the contractual life of the award was based on the U. S. Treasury yield curve in effect at the time of grant.", + "The estimation of awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised.", + "We consider many factors when estimating forfeitures, including employee class and historical experience.", + "Recent Accounting Pronouncements See \u201cNote 1 - The Company and Summary of Significant Accounting Policies\u201d to the consolidated financial statements included in this report, regarding the impact of certain recent accounting pronouncements on our consolidated financial statements.", + "Item 7A: Quantitative and Qualitative Disclosures About Market Risk Foreign Currency Exposure We have significant operations internationally that are denominated in foreign currencies, primarily the Euro, British pound, Korean won, Australian dollar and Canadian dollar, subjecting us to foreign currency risk which may adversely impact our financial results.", + "We transact business in various foreign currencies and have significant international revenues as well as costs.", + "In addition, we charge our international subsidiaries for their use of intellectual property and technology and for certain corporate services provided by eBay and by PayPal.", + "Our cash flow, results of operations and certain of our intercompany balances that are exposed to foreign exchange rate fluctuations may differ materially from expectations and we may record significant gains or losses due to foreign currency fluctuations and related hedging activities.", + "We have a foreign exchange exposure management program that aims to identify material foreign currency exposures, to manage these exposures, and to minimize the potential effects of currency fluctuations on our reported consolidated cash flows and results of operations through the purchase of foreign currency exchange contracts.", + "These foreign currency exchange contracts are accounted for as derivative instruments.", + "For additional details related to our derivative instruments, please see \u201cNote 9 - Derivative Instruments\u201d to the consolidated financial statements included in this report.", + "Interest Rate Risk The primary objective of our investment activities is to preserve principal while at the same time maximizing yields without significantly increasing risk.", + "To achieve this objective, we maintain our portfolio of cash equivalents and short-term and long-term investments in a variety of available for sale securities, including money market funds and government and corporate securities.", + "As of December 31, 2011 , approximately 56% of our total cash and investment portfolio was held in bank deposits and money market funds.", + "As such, changes in interest rates will impact our interest income.", + "In addition, we regularly issue new commercial paper notes to repay outstanding commercial paper notes as they mature, and those new commercial paper notes bear interest at rates prevailing at the time of issuance.", + "Accordingly, changes in interest rates will impact interest expense or cost of net revenues.", + "As of December 31, 2011 , we held no direct investments in auction rate securities, collateralized debt obligations, structured investment vehicles or mortgage-backed securities.", + "For additional details related to our investment activities, please see \"Note 7 - Investments\" to the consolidated financial statements included in this report.", + "Investments in both fixed-rate and floating-rate interest-earning instruments carry varying degrees of interest rate risk.", + "The fair market value of our fixed-rate securities may be adversely impacted due to a rise in interest rates.", + "In general, securities with longer maturities are subject to greater interest-rate risk than those with shorter maturities.", + "While floating rate securities generally are subject to less interest-rate risk than fixed\u0002rate securities, floating-rate securities may produce less income than expected if interest rates decrease.", + "Due in part to these factors, our investment income may fall short of expectations or we may suffer losses in principal if securities are sold that have declined in market value due to changes in interest rates.", + "As of", + "||Con Edison|CECONY|\n|(Millions of Dollars)|2015|2014|2013|2015|2014|2013|\n|CHANGE IN BENEFIT OBLIGATION|||||||\n|Benefit obligation at beginning of year|$1,411|$1,395|$1,454|$1,203|$1,198|$1,238|\n|Service cost|20|19|23|15|15|18|\n|Interest cost on accumulated postretirement benefit obligation|51|60|54|43|52|46|\n|Amendments|\u2014|-12|\u2014|\u2014|\u2014|\u2014|\n|Net actuarial loss/(gain)|-103|47|-42|-85|28|-20|\n|Benefits paid and administrative expenses|-127|-134|-136|-117|-125|-126|\n|Participant contributions|35|36|38|34|35|38|\n|Medicare prescription subsidy|\u2014|\u2014|4|\u2014|\u2014|4|\n|BENEFIT OBLIGATION AT END OF YEAR|$1,287|$1,411|$1,395|$1,093|$1,203|$1,198|\n|CHANGE IN PLAN ASSETS|||||||\n|Fair value of plan assets at beginning of year|$1,084|$1,113|$1,047|$950|$977|$922|\n|Actual return on plan assets|-6|59|153|-4|54|134|\n|Employer contributions|6|7|9|6|7|9|\n|EGWP payments|28|12|8|26|11|7|\n|Participant contributions|35|36|38|34|35|38|\n|Benefits paid|-153|-143|-142|-142|-134|-133|\n|FAIR VALUE OF PLAN ASSETS AT END OF YEAR|$994|$1,084|$1,113|$870|$950|$977|\n|FUNDED STATUS|$-293|$-327|$-282|$-223|$-253|$-221|\n|Unrecognized net loss|$28|$78|$70|$4|$45|$54|\n|Unrecognized prior service costs|-51|-71|-78|-32|-46|-61|\n", + "The decrease in the other postretirement benefit plan obligation (due primarily to increased discount rates) was the primary cause of the decreased liability for other postretirement benefits at Con Edison and CECONY of $34 million and $30 million, respectively, compared with December 31, 2014.", + "For Con Edison, this decreased liability corresponds with an increase to regulatory liabilities of $30 million for unrecognized net losses and unrecognized prior service costs associated with the Utilities consistent with the accounting rules for regulated operations, and an immaterial change to OCI (net of taxes) for the unrecognized net losses and a credit to OCI of $1 million (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses and O&R\u2019s New Jersey subsidiary.", + "For CECONY, the decrease in liability corresponds with an increase to regulatory liabilities of $27 million for unrecognized net losses and unrecognized prior service costs associated with the company consistent with the accounting rules for regulated operations, and an immaterial change to OCI (net of taxes) for the unrecognized net losses and unrecognized prior service costs associated with the competitive energy businesses.", + "A portion of the unrecognized net losses and prior service costs for the other postretirement benefits, equal to $12 million and $(20) million, respectively, will be recognized from accumulated OCI and the regulatory asset into net periodic benefit cost over the next year for Con Edison.", + "Included in these amounts are $10 million and $(14) million, respectively, for CECONY.", + "Assumptions The actuarial assumptions were as follows:", + "FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending December 31, 2015, and thereafter in the aggregate, are as follows (in millions):", + "|2011|$65.1|\n|2012|47.6|\n|2013|35.7|\n|2014|27.8|\n|2015|24.3|\n|Thereafter|78.1|\n|Total|$278.6|\n", + "In addition, the Company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $16.3 million per year which renew on a short-term basis.", + "Rent expense incurred under all operating leases during the years ended December 31, 2010, 2009 and 2008 was $116.1 million, $100.2 million and $117.0 million, respectively.", + "Included in discontinued operations in the Consolidated Statements of Earnings was rent expense of $2.0 million, $1.8 million and $17.0 million for the years ended December 31, 2010, 2009 and 2008, respectively.", + "Data Processing and Maintenance Services Agreements.", + "The Company has agreements with various vendors, which expire between 2011 and 2017, for portions of its computer data processing operations and related functions.", + "The Company\u2019s estimated aggregate contractual obligation remaining under these agreements was approximately $554.3 million as of December 31, 2010.", + "However, this amount could be more or less depending on various factors such as the inflation rate, foreign exchange rates, the introduction of significant new technologies, or changes in the Company\u2019s data processing needs.", + "(16) Employee Benefit Plans Stock Purchase Plan FIS employees participate in an Employee Stock Purchase Plan (ESPP).", + "Eligible employees may voluntarily purchase, at current market prices, shares of FIS\u2019 common stock through payroll deductions.", + "Pursuant to the ESPP, employees may contribute an amount between 3% and 15% of their base salary and certain commissions.", + "Shares purchased are allocated to employees based upon their contributions.", + "The Company contributes varying matching amounts as specified in the ESPP.", + "The Company recorded an expense of $14.3 million, $12.4 million and $14.3 million, respectively, for the years ended December 31, 2010, 2009 and 2008, relating to the participation of FIS employees in the ESPP.", + "Included in discontinued operations in the Consolidated Statements of Earnings was expense of $0.1 million and $3.0 million for the years ended December 31, 2009 and 2008, respectively.401(k) Profit Sharing Plan The Company\u2019s employees are covered by a qualified 401(k) plan.", + "Eligible employees may contribute up to 40% of their pretax annual compensation, up to the amount allowed pursuant to the Internal Revenue Code.", + "The Company generally matches 50% of each dollar of employee contribution up to 6% of the employee\u2019s total eligible compensation.", + "The Company recorded expense of $23.1 million, $16.6 million and $18.5 million, respectively, for the years ended December 31, 2010, 2009 and 2008, relating to the participation of FIS employees in the 401(k) plan.", + "Included in discontinued operations in the Consolidated Statements of Earnings was expense of $0.1 million and $3.9 million for the years ended December 31, 2009 and 2008, respectively", + "The following table presents a reconciliation of net cash provided by operating activities to free cash flow available to News Corporation:" + ], + "question_id": "simplong-test-258", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of the amount of Equity securities in 2009 Ended December 31?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC. the asset.", + "Projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money.", + "The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for certain assets for which the market and income approaches could not be applied due to the nature of the asset.", + "The cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation.", + "The fair value of US Airways\u2019 Dividend Miles loyalty program liability was determined based on the weighted average equivalent ticket value of outstanding miles which were expected to be redeemed for future travel at December 9, 2013.", + "The weighted average equivalent ticket value contemplates differing classes of service, domestic and international itineraries and the carrier providing the award travel.", + "Pro-forma Impact of the Merger American\u2019s unaudited pro-forma results presented below include the effects of the Merger as if it had been consummated as of January 1, 2012.", + "The pro- forma results include the depreciation and amortization associated with the acquired tangible and intangible assets, lease and debt fair value adjustments, the elimination of any deferred gains or losses, adjustments relating to reflecting the fair value of the loyalty program liability and the impact of income changes on profit sharing expense, among others.", + "In addition, the pro-forma results below reflect the impact of higher wage rates related to memorandums of understanding with US Airways\u2019 pilots that became effective upon closing of the Merger, as well as the elimination of American\u2019s reorganization items, net and Merger transition costs.", + "However, the pro-forma results do not include any anticipated synergies or other expected benefits of the Merger.", + "Accordingly, the unaudited pro-forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 1, 2012.", + "||December 31, 2013 (In millions)|\n|Revenue|$40,782|\n|Net Income|2,707|\n", + "5.", + "Basis of Presentation and Summary of Significant Accounting Policies (a) Basis of Presentation On December 30, 2015, US Airways merged with and into American, which is reflected in American\u2019s consolidated financial statements as though the transaction had occurred on December 9, 2013, when a subsidiary of AMR merged with and into US Airways Group.", + "Thus, the full years of 2015 and 2014 and the period from December 9, 2013 to December 31, 2013 are comprised of the consolidated financial data of American and US Airways.", + "For the periods prior to December 9, 2013, the financial data reflects the results of American only.", + "For financial reporting purposes, the transaction constituted a transfer of assets between entities under common control and was accounted for in a manner similar to the pooling of interests method of accounting.", + "Under this method, the carrying amount of net assets recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity and no other assets or liabilities are recognized.", + "The preparation of financial statements in accordance with accounting principles generally accepted in the United States (GAAP) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements.", + "Actual results could differ from those estimates.", + "The most significant areas of judgment relate to passenger revenue recognition, impairment of goodwill, impairment of long-lived and", + "The following tables set forth the income yield and investment income, excluding realized investment gains (losses) and non-hedge accounting derivative results, for each major investment category of our Japanese operations\u2019 general account for the periods indicated.", + "||Year Ended December 31, 2009|Year Ended December 31, 2008|\n||Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|2.88%|$1,519|2.95%|$1,314|\n|Trading account assets supporting insurance liabilities|1.97|22|2.10|23|\n|Equity securities|3.13|58|2.91|73|\n|Commercial mortgage and other loans|4.86|167|4.76|144|\n|Policy loans|3.91|63|3.92|50|\n|Short-term investments and cash equivalents|0.62|11|2.26|21|\n|Other investments|6.27|129|8.77|139|\n|Gross investment income before investment expenses|3.05|1,969|3.21|1,764|\n|Investment expenses|-0.16|-108|-0.19|-107|\n|Total investment income|2.89%|$1,861|3.02%|$1,657|\n", + "(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity.", + "Yields for fixed maturities are based on amortized cost.", + "Yields for equity securities are based on cost.", + "Yields for fixed maturities and short-term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity.", + "Yields exclude investment income on assets other than those included in invested assets.", + "Prior periods yields are presented on a basis consistent with the current period presentation.", + "The decrease in yield on the Japanese insurance portfolio for 2009 compared to 2008 is primarily attributable to lower fixed maturity reinvestment rates, including the reinvestment of proceeds realized from certain capital actions and a lower short-term interest rate environment both in the U. S. and Japan.", + "The U. S. dollar denominated fixed maturities that are not hedged to yen through third party derivative contracts provide a yield that is substantially higher than the yield on comparable Japanese fixed maturities.", + "The average value of U. S. dollar denominated fixed maturities that are not hedged to yen through third party derivative contracts for 2009 and 2008 was approximately $10.1 billion and $9.9 billion, respectively, based on amortized cost.", + "For additional information regarding U. S. dollar investments held in our Japanese insurance operations see, \u201c\u2014Results of Operations for Financial Services Businesses by Segment\u2014 International Insurance and Investments Division.", + "\u201d Fixed Maturity Securities Investment Mix Our fixed maturity securities portfolio consists of publicly-traded and privately-placed debt securities across an array of industry categories.", + "The fixed maturity securities relating to our international insurance operations are primarily comprised of foreign government securities.", + "We manage our public portfolio to a risk profile directed or overseen by the Asset Liability Management and Risk Management groups and, in the case of our international insurance portfolios, to a profile that also reflects the local market environment.", + "The investment objectives for fixed maturity securities are consistent with those described above.", + "The total return that we earn on the portfolio will be reflected both as investment income and also as realized gains or losses on investments.", + "We use our private placement and asset-backed portfolios to enhance the diversification and yield of our overall fixed maturity portfolio.", + "Within our domestic portfolios, we maintain a private fixed income portfolio that is larger than the industry average as a percentage of total fixed income holdings.", + "Over the last several years, our investment staff has directly originated more than half of our annual private placement originations.", + "Our origination capability offers the opportunity to lead transactions and gives us the opportunity for better terms, including covenants and call protection, and to take advantage of innovative deal structures.", + "(1) Represents net shares issued from treasury pursuant to the Company\u2019s stock-based compensation programs.", + "In the event of a liquidation, dissolution or winding-up of the Company, holders of Common Stock would be entitled to receive a proportionate share of the net assets of the Company that remain after paying all liabilities and the liquidation preferences of any preferred stock.", + "Common Stock Held in Treasury Common Stock held in treasury is accounted for at average cost.", + "Gains resulting from the reissuance of \u201cCommon Stock held in treasury\u201d are credited to \u201cAdditional paid-in capital.", + "\u201d Losses resulting from the reissuance of \u201cCommon Stock held in treasury\u201d are charged first to \u201cAdditional paid-in capital\u201d to the extent the Company has previously recorded gains on treasury share transactions, then to \u201cRetained earnings.", + "\u201d", + "||Other PostretirementBenefits (in millions)|\n|One percentage point increase||\n|Increase in total service and interest costs|$7|\n|Increase in postretirement benefit obligation|153|\n|One percentage point decrease||\n|Decrease in total service and interest costs|$5|\n|Decrease in postretirement benefit obligation|120|\n", + "Plan Assets The investment goal of the domestic pension plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds and other investments.", + "The cash requirements of the pension obligation, which include a traditional formula principally representing payments to annuitants and a cash balance formula that allows lump sum payments and annuity payments, are designed to be met by the bonds and short-term investments in the portfolio.", + "The pension plan risk management practices include guidelines for asset concentration, credit rating and liquidity.", + "The pension plan does not invest in leveraged derivatives.", + "Derivatives such as futures contracts are used to reduce transaction costs and change asset concentration, while interest rate swaps and futures are used to adjust duration.", + "The investment goal of the domestic postretirement plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds, and other investments, while meeting the cash requirements for the postretirement obligation that includes a medical benefit including prescription drugs, a dental benefit and a life benefit.", + "The postretirement plan risk management practices include guidelines for asset concentration, credit rating, liquidity and tax efficiency.", + "The postretirement plan does not invest in leveraged derivatives.", + "Derivatives such as futures contracts are used to reduce transaction costs and change asset concentration, while interest rate swaps and futures are used to adjust duration.", + "The plan fiduciaries for the Company\u2019s pension and postretirement plans have developed guidelines for asset allocations reflecting a percentage of total assets by asset class, which are reviewed on an annual basis.", + "Asset allocation targets as of December 31, 2015 are as follows:", + "||Pension|Postretirement|\n||Minimum|Maximum|Minimum|Maximum|\n|Asset Category|||||\n|U.S. Equities|2%|15%|25%|58%|\n|International Equities|2%|16%|2%|22%|\n|Fixed Maturities|50%|69%|3%|52%|\n|Short-term Investments|0%|15%|0%|44%|\n|Real Estate|2%|15%|0%|0%|\n|Other|0%|16%|0%|0%|\n", + "To implement the investment strategy, plan assets are invested in funds that primarily invest in securities that correspond to one of the asset categories under the investment guidelines.", + "However, at any point in time, some of the assets in a fund may be of a different nature than the specified asset category", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements 14.", + "SHORT-TERM AND LONG-TERM DEBT Short-term Debt The table below presents the Company\u2019s short-term debt at December 31, for the years indicated as follows:" + ], + "question_id": "simplong-test-259", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of Income tax expense in 2016? (in dollars in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The tax rate for fiscal 2019 was below the U. S. statutory tax rate of 21% partially due to lower statutory tax rates applicable to our operations in the foreign jurisdictions from which we earn income and tax incentives such as the foreign derived intangible income deduction and research and development tax credits.", + "These items are partially offset by the global intangible low-tax income (GILTI) tax.", + "The tax rate for f fiscal 2019 includes a $17.2 million tax benefit from a voluntary accounting policy change in the statutory statements of a foreign f subsidiary, an $11.2 million tax benefit from an increase in tax credits upon filing our fiscal 2018 federal income tax return and excess tax benefits from stock-based compensation payments of $28.7 million.", + "Similarly, our tax rate for fiscal 2018 was below our then blended U. S. federal statutory tax rate of 23.4%, primarily due to lower statutory tax rates applicable to our operations in the foreign jurisdictions in which we earn income and $25.6 million of tax benefit related to the release of uncertain tax positions due to laapses in statute of limitations.", + "In addition, our effective tax rate for fiscal f 2018 includes a provisional estimate for f a discrete tax benefit of $637.0 million from remeasuring our U. S. deferred tax assets and liaabilities at the lower 21.0% U. S. federal statutory tax rate and a provisional estimate of $691.0 million for the discrete tax charge from the Tax Legislation\u2019s one-time transition tax associated with our undistributed foreign earnings, which is comprised of a $755.0 million transitional tax less a deferred tax liability of $64.0 million that was recorded in prior years and excess tax benefits from stock-based compensation payments of $26.2 million.", + "Non-U.", + "S. jurisdictions accounted for approximately 75.9% of our total revenues for both fiscal 2019 and fiscal 2018.", + "This revenue generated outside of the U. S. results in a material portion of our pretax income being taxed outside the U. S. In fiscal 2019, this was primarily in Ireland and Singapore, at tax rates ranging from 12.5% to 17% and in fiscal 2018, this was primarily in Bermuda, Ireland and Singapore, at tax rates ranging from 0 to 33.3%.", + "The impact on our provision for income taxes on income earned in fforeign jurisdictions being taxed at rates different than the U. S. federal statutory rate was a benefit of approximately $242.9 million and a fforeign effective tax rate of approximately 21.1% for fiscal 2019 as compared to a benefit of approximately $420.8 million and a fforeign effective tax rate of approximately 5.2% for fiscal 2018.", + "Our foreign effective tax rates for both periods are inclusive of certain non-deductible expenses which can result in tax rates higher than the applicable statutory tax rates.", + "In addition, our effective income tax rate can be impacted each year by amounts for discrete factors or events and acquisition-related accounting adjustments.", + "See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K for further discussion.", + "Net Income", + "|||||Change||\n||Fiscal Year|||2019 over 2018|2018 over 2017|\n||2019|2018 -1|2017 -1|$ Change|% Change|$ Change|% Change||\n|Net income|$1,363,011|$1,506,980|$805,379|$-143,969|-10%|$701,601|87%||\n|Net income, as a % of revenue|22.8%|24.2%|15.4%||||||\n|Diluted EPS|$3.65|$4.00|$2.29|$-0.35|-9%|$1.71|75%||\n", + "(1) Balances have been restated to reflect the adoption of ASU 2014-09.", + "See Note 2a, Principles of Consolidation, in the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K.", + "The decrease in net income in fiscal 2019 as compared to fiscal 2018 was a result of a $189.0 million decrease in operating income, partially offset by a $25.6 million decrease in provision for income taxes and a $19.4 million decrease in nonoperating expense.", + "The increase in net income in fiscal 2018 as compared to fiscal 2017 was a result of a $736.8 million increase in operating income, partially offset by a $19.0 million increase in provision for income taxes and a $16.3 increase in nonoperating expense.", + "The impact of inflation and foreign currency exchange rate movement on our results of operations during the past three fiscal years has not been significant.", + "Table XII Selected Quarterly Financial Data", + "||2016 Quarters|2015 Quarters|\n|(In millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Income statement|||||||||\n|Net interest income|$10,292|$10,201|$10,118|$10,485|$9,686|$9,900|$9,517|$9,855|\n|Noninterest income|9,698|11,434|11,168|10,305|9,896|11,092|11,523|11,496|\n|Total revenue, net of interest expense|19,990|21,635|21,286|20,790|19,582|20,992|21,040|21,351|\n|Provision for credit losses|774|850|976|997|810|806|780|765|\n|Noninterest expense|13,161|13,481|13,493|14,816|14,010|13,939|13,959|15,826|\n|Income before income taxes|6,055|7,304|6,817|4,977|4,762|6,247|6,301|4,760|\n|Income tax expense|1,359|2,349|2,034|1,505|1,478|1,628|1,736|1,392|\n|Net income|4,696|4,955|4,783|3,472|3,284|4,619|4,565|3,368|\n|Net income applicable to common shareholders|4,335|4,452|4,422|3,015|2,954|4,178|4,235|2,986|\n|Average common shares issued and outstanding|10,170|10,250|10,328|10,370|10,399|10,444|10,488|10,519|\n|Average diluted common shares issued and outstanding|10,959|11,000|11,059|11,100|11,153|11,197|11,238|11,267|\n|Performance ratios|||||||||\n|Return on average assets|0.85%|0.90%|0.88%|0.64%|0.60%|0.84%|0.85%|0.64%|\n|Four quarter trailing return on average assets-1|0.82|0.76|0.74|0.73|0.73|0.74|0.52|0.42|\n|Return on average common shareholders\u2019 equity|7.04|7.27|7.40|5.11|4.99|7.16|7.43|5.37|\n|Return on average tangible common shareholders\u2019 equity-2|9.92|10.28|10.54|7.33|7.19|10.40|10.85|7.91|\n|Return on average shareholders' equity|6.91|7.33|7.25|5.36|5.07|7.22|7.29|5.55|\n|Return on average tangible shareholders\u2019 equity-2|9.38|9.98|9.93|7.40|7.04|10.08|10.24|7.87|\n|Total ending equity to total ending assets|12.20|12.30|12.23|12.03|11.95|11.88|11.70|11.68|\n|Total average equity to total average assets|12.24|12.28|12.13|11.98|11.79|11.70|11.67|11.50|\n|Dividend payout|17.68|17.32|11.73|17.13|17.57|12.48|12.36|17.62|\n|Per common share data|||||||||\n|Earnings|$0.43|$0.43|$0.43|$0.29|$0.28|$0.40|$0.40|$0.28|\n|Diluted earnings|0.40|0.41|0.41|0.28|0.27|0.38|0.38|0.27|\n|Dividends paid|0.075|0.075|0.05|0.05|0.05|0.05|0.05|0.05|\n|Book value|24.04|24.19|23.71|23.14|22.53|22.40|21.89|21.67|\n|Tangible book value-2|16.95|17.14|16.71|16.19|15.62|15.50|15.00|14.80|\n|Market price per share of common stock|||||||||\n|Closing|$22.10|$15.65|$13.27|$13.52|$16.83|$15.58|$17.02|$15.39|\n|High closing|23.16|16.19|15.11|16.43|17.95|18.45|17.67|17.90|\n|Low closing|15.63|12.74|12.18|11.16|15.38|15.26|15.41|15.15|\n|Market capitalization|$222,163|$158,438|$135,577|$139,427|$174,700|$162,457|$178,231|$161,909|\n", + "(1) Calculated as total net income for four consecutive quarters divided by annualized average assets for four consecutive quarters.", + "(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "For more information on these ratios, see Supplemental Financial Data on page 26, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "(3) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 55.", + "(4) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(5) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio Credit Risk Management \u2013 Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 63 and corresponding Table 30, and Commercial Portfolio Credit Risk Management \u2013 Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 69 and corresponding Table 37.", + "(6) Asset quality metrics as of December 31, 2016 include $243 million of non-U.", + "S. credit card allowance for loan and lease losses and $9.2 billion of non-U.", + "S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "(7) Primarily includes amounts allocated to the U. S. credit card and unsecured consumer lending portfolios in Consumer Banking, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "(8) Net charge-offs exclude $70 million, $83 million, $82 million and $105 million of write-offs in the PCI loan portfolio in the fourth, third, second and first quarters of 2016, respectively, and $82 million, $148 million, $290 million and $288 million in the fourth, third, second and first quarters of 2015, respectively.", + "For more information on PCI write-offs, see Consumer Portfolio Credit Risk Management \u2013 Purchased Credit-impaired Loan Portfolio on page 61.", + "(9) Risk-based capital ratios are reported under Basel 3 Advanced - Transition beginning in the fourth quarter of 2015.", + "Prior to fourth quarter of 2015, we were required to report risk-based capital ratios under Basel 3 Standardized - Transition only.", + "For additional information, see Capital Management on page 44.", + "FUTURE MINIMUM LEASE OBLIGATIONS", + "||As of February 28, 2010|\n|(In thousands)|Capital Leases -1|Operating Lease Commitments-1|\n|Fiscal 2011|$3,608|$82,832|\n|Fiscal 2012|3,608|82,788|\n|Fiscal 2013|3,608|82,688|\n|Fiscal 2014|3,643|83,026|\n|Fiscal 2015|3,884|83,041|\n|Fiscal 2016 and thereafter|37,056|557,452|\n|Total minimum lease payments|55,407|$971,827|\n|Less amounts representing interest|-27,319||\n|Present value of net minimum capital lease payments|$28,088||\n", + "(1) Excludes taxes, insurance and other costs payable directly by us.", + "These costs vary from year to year and are incurred in the ordinary course of business.", + "We did not enter into any sale-leaseback transactions in fiscal 2010 or fiscal 2008.", + "We completed sale-leaseback transactions involving two superstores valued at approximately $31.3 million in fiscal 2009.", + "All sale-leaseback transactions are structured at competitive rates.", + "Gains or losses on sale-leaseback transactions are recorded as deferred rent and amortized over the lease term.", + "Other than occupancy, we do not have continuing involvement under the sale-leaseback transactions.", + "In conjunction with certain sale-leaseback transactions, we must meet financial covenants relating to minimum tangible net worth and minimum coverage of rent expense.", + "We were in compliance with all such covenants as of February 28, 2010.15.", + "SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (A) Goodwill and Other Intangibles Other assets included goodwill and other intangibles with a carrying value of $10.1 million as of February 28, 2010, and February 28, 2009.", + "No impairment of goodwill or intangible assets resulted from our annual impairment tests in fiscal 2010, fiscal 2009 or fiscal 2008.", + "(B) Restricted Investments Restricted investments, included in other assets, consisted of $30.7 million in money market securities as of February 28, 2010, and $28.5 million in money market securities and $2.2 million in other debt securities as of February 28, 2009.", + "For fiscal 2010, proceeds from the sales of other debt securities totaled $2.2 million.", + "For fiscal 2009, there were no proceeds from the sales of other debt securities.", + "Due to the short-term nature and/or variable rates associated with these financial instruments, the carrying value approximates fair value.", + "(C) Other Accrued Expenses As of February 28, 2010 and 2009, accrued expenses and other current liabilities included accrued compensation and benefits of $62.1 million and $24.3 million, respectively, and loss reserves for general liability and workers\u2019 compensation insurance of $23.9 million and $22.2 million, respectively.", + "(D) Advertising Expense SG&A expenses included advertising expense of $75.1 million in fiscal 2010, $101.5 million in fiscal 2009 and $108.8 million in fiscal 2008.", + "Advertising expenses were 1.0% of net sales and operating revenues for fiscal 2010, 1.5% for fiscal 2009 and 1.3% for fiscal year 2008.16.", + "CONTINGENT LIABILITIES (A) Litigation On April 2, 2008, Mr. John Fowler filed a putative class action lawsuit against CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. in the Superior Court of California, County of Los Angeles.", + "Subsequently, two other lawsuits, Leena Areso et al.", + "v. CarMax Auto Superstores California, LLC and Justin Weaver v. CarMax Auto Superstores California, LLC, were consolidated as part of the Fowler case.", + "The allegations", + "FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES Selected cash flows for the years ended December 31, 2014, 2013, and 2012 are as follows (in millions):" + ], + "question_id": "simplong-test-260", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Average shares outstanding of Year Ended December 31, 2003 2, Net sales of 2012, and TOTAL MARKET VALUE OF COMMON STOCK PER SHARE DATA of Year Ended December 31, 2002 3,4 is ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ITEM 6.", + "SELECTED FINANCIAL DATA The Coca-Cola Company and Subsidiaries", + "| |Compound Growth Rates |Year Ended December 31,|\n|(In millions except per share data, ratios and growth rates) |5 Years |10 Years |2003 2|2002 3,4|\n| SUMMARY OF OPERATIONS|||||\n|Net operating revenues|5.2 %|5.3%|$ 21,044|$ 19,564|\n|Cost of goods sold|6.9 %|4.2%|7,762|7,105|\n|Gross profit|4.3 %|6.1%|13,282|12,459|\n|Selling, general and administrative expenses|5.6 %|5.9%|7,488|7,001|\n|Other operating charges|||573|\u2014|\n|Operating income|1.0 %|5.4%|5,221|5,458|\n|Interest income|||176|209|\n|Interest expense|||178|199|\n|Equity income (loss)\u2014net|||406|384|\n|Other income (loss)\u2014net|||-138|-353|\n|Gains on issuances of stock by equity investees|||8|\u2014|\n|Income before income taxes and changes in accounting principles|1.1 %|5.6%|5,495|5,499|\n|Income taxes|-7.2%|1.4%|1,148|1,523|\n|Net income before changes in accounting principles|4.2 %|7.1%|$ 4,347|$ 3,976|\n|Net income|4.2 %|7.2%|$ 4,347|$ 3,050|\n|Average shares outstanding|||2,459|2,478|\n|Average shares outstanding assuming dilution|||2,462|2,483|\n| PER SHARE DATA|||||\n|Income before changes in accounting principles\u2014basic|4.4 %|7.7%|$ 1.77|$ 1.60|\n|Income before changes in accounting principles\u2014diluted|4.5 %|7.9%|1.77|1.60|\n|Basic net income|4.4 %|7.7%|1.77|1.23|\n|Diluted net income|4.5 %|7.9%|1.77|1.23|\n|Cash dividends|8.0 %|10.0%|0.88|0.80|\n|Market price on December 31,|-5.4%|8.6%|50.75|43.84|\n| TOTAL MARKET VALUE OF COMMON STOCK1|-5.6%|7.9%|$ 123,908|$ 108,328|\n| BALANCE SHEET AND OTHER DATA|||||\n|Cash, cash equivalents and current marketable securities|||$ 3,482|$ 2,345|\n|Property, plant and equipment\u2014net|||6,097|5,911|\n|Depreciation|||667|614|\n|Capital expenditures|||812|851|\n|Total assets|||27,342|24,406|\n|Long-term debt|||2,517|2,701|\n|Total debt|||5,423|5,356|\n|Share-owners' equity|||14,090|11,800|\n|Total capital1|||19,513|17,156|\n| OTHER KEY FINANCIAL MEASURES1|||||\n|Total debt-to-total capital|||27.8%|31.2%|\n|Net debt-to-net capital|||12.1%|20.3%|\n|Return on common equity|||33.6%|34.3%|\n|Return on capital|||24.5%|24.5%|\n|Dividend payout ratio|||49.8%|65.1%|\n|Net cash provided by operations|||$ 5,456|$ 4,742|\n", + "1 Refer to Glossary on pages 103 and 104.2 In 2003, we adopted SFAS No.146, \u2018\u2018Accounting for Costs Associated with Exit or Disposal Activities.", + "\u2019\u2019 3 In 2002, we adopted SFAS No.142, \u2018\u2018Goodwill and Other Intangible Assets.", + "\u2019\u2019 4 In 2002, we adopted the fair value method provisions of SFAS No.123, \u2018\u2018Accounting for Stock-Based Compensation,\u2019\u2019 and we adopted SFAS No.148, \u2018\u2018Accounting for Stock-Based Compensation\u2014Transition and Disclosure.", + "\u2019\u2019", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Coca-Cola Company and Subsidiaries NOTE 12: NET CHANGE IN OPERATING ASSETS AND LIABILITIES Net cash provided by operating activities attributable to the net change in operating assets and liabilities is composed of the following (in millions):", + "||2003|2002|2001|\n|Decrease (increase) in trade accounts receivable|$ 80|$ -83|$ -73|\n|Decrease (increase) in inventories|111|-49|-17|\n|Decrease (increase) in prepaid expenses and other assets|-276|74|-349|\n|Decrease in accounts payable and accrued expenses|-164|-442|-179|\n|Increase in accrued taxes|53|20|247|\n|Increase (decrease) in other liabilities|28|73|-91|\n||$ -168|$ -407|$ -462|\n", + "NOTE 13: RESTRICTED STOCK, STOCK OPTIONS AND OTHER STOCK PLANS Prior to 2002, our Company accounted for our stock option plans and restricted stock plans under the recognition and measurement provisions of APB No.25 and related interpretations.", + "Effective January 1, 2002, our Company adopted the preferable fair value recognition provisions of SFAS No.123.", + "Our Company selected the modified prospective method of adoption described in SFAS No.148.", + "Compensation cost recognized in 2002 was the same as that which would have been recognized had the fair value method of SFAS No.123 been applied from its original effective date.", + "Refer to Note 1.", + "In accordance with the provisions of SFAS No.123 and SFAS No.148, $422 million and $365 million, respectively, were recorded for total stock-based compensation expense in 2003 and 2002.", + "Of the $422 million recorded in 2003, $407 million was recorded in selling, general and administrative expenses and $15 million was recorded in other operating charges (refer to Note 17).", + "In accordance with APB No.25, total stock-based compensation expense was $41 million for the year ended December 31, 2001.", + "Stock Option Plans Under our 1991 Stock Option Plan (the \u2018\u20181991 Option Plan\u2019\u2019), a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options and stock appreciation rights granted under the 1991 Option Plan.", + "The stock appreciation rights permit the holder, upon surrendering all or part of the related stock option, to receive cash, common stock or a combination thereof, in an amount up to 100 percent of the difference between the market price and the option price.", + "Options to purchase common stock under the 1991 Option Plan have been granted to Company employees at fair market value at the date of grant.", + "The 1999 Stock Option Plan (the \u2018\u20181999 Option Plan\u2019\u2019) was approved by share owners in April of 1999.", + "Following the approval of the 1999 Option Plan, no grants were made from the 1991 Option Plan, and shares available under the 1991 Option Plan were no longer available to be granted.", + "Under the 1999 Option Plan, a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options granted under the 1999 Option Plan.", + "Options to purchase common stock under the 1999 Option Plan have been granted to Company employees at fair market value at the date of grant.", + "The 2002 Stock Option Plan (the \u2018\u20182002 Option Plan\u2019\u2019) was approved by share owners in April of 2002.", + "Under the 2002 Option Plan, a maximum of 120 million shares of our common stock was approved to be issued or transferred to certain officers and employees pursuant to stock options granted under the 2002 Option Plan.", + "2011 compared to 2010 MST\u2019s net sales for 2011 decreased $311 million, or 4%, compared to 2010.", + "The decrease was attributable to decreased volume of approximately $390 million for certain ship and aviation system programs (primarily Maritime Patrol Aircraft and PTDS) and approximately $75 million for training and logistics solutions programs.", + "Partially offsetting these decreases was higher sales of about $165 million from production on the LCS program.", + "MST\u2019s operating profit for 2011 decreased $68 million, or 10%, compared to 2010.", + "The decrease was attributable to decreased operating profit of approximately $55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs (including the terminated presidential helicopter program) and approximately $40 million due to lower volume and increased reserves on training and logistics solutions.", + "Partially offsetting these decreases was higher operating profit of approximately $30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010.", + "Adjustments not related to volume, including net profit rate adjustments described above, were approximately $55 million lower in 2011 compared to 2010.", + "Backlog Backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs (primarily MH-60 and LCS), partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs (primarily Aegis).", + "Backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs.", + "Trends We expect MST\u2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of PTDS deliveries in 2012 and expected lower volume on training services programs.", + "Operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance.", + "Space Systems Our Space Systems business segment is engaged in the research and development, design, engineering, and production of satellites, strategic and defensive missile systems, and space transportation systems.", + "Space Systems is also responsible for various classified systems and services in support of vital national security systems.", + "Space Systems\u2019 major programs include the Space-Based Infrared System (SBIRS), Advanced Extremely High Frequency (AEHF) system, Mobile User Objective System (MUOS), Global Positioning Satellite (GPS) III system, Geostationary Operational Environmental Satellite R-Series (GOES-R), Trident II D5 Fleet Ballistic Missile, and Orion.", + "Operating results for our Space Systems business segment include our equity interests in United Launch Alliance (ULA), which provides expendable launch services for the U. S. Government, United Space Alliance (USA), which provided processing activities for the Space Shuttle program and is winding down following the completion of the last Space Shuttle mission in 2011, and a joint venture that manages the U. K. \u2019s Atomic Weapons Establishment program.", + "Space Systems\u2019 operating results included the following (in millions):", + "||2012|2011|2010|\n|Net sales|$8,347|$8,161|$8,268|\n|Operating profit|1,083|1,063|1,030|\n|Operating margins|13.0%|13.0%|12.5%|\n|Backlog at year-end|18,100|16,000|17,800|\n", + "2012 compared to 2011 Space Systems\u2019 net sales for 2012 increased $186 million, or 2%, compared to 2011.", + "The increase was attributable to higher net sales of approximately $150 million due to increased commercial satellite deliveries (two commercial satellites delivered in 2012 compared to one during 2011); about $125 million from the Orion program due to higher volume and an increase in risk retirements; and approximately $70 million from increased volume on various strategic and defensive missile programs.", + "Partially offsetting the increases were lower net sales of approximately $105 million from certain government satellite programs (primarily SBIRS and MUOS) as a result of decreased volume and a decline in risk retirements; and about $55 million from the NASA External Tank program, which ended in connection with the completion of the Space Shuttle program in 2011." + ], + "question_id": "simplong-test-261", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Tier 1 capital in the years where CET1 capital greater for Basel III Standardized Transitional is greater than 18300? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis 2018 versus 2017.", + "Provision for credit losses in the consolidated statements of earnings was $674 million for 2018, compared with $657 million for 2017, as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $130 million on a secured loan in 2017.2017 versus 2016.", + "Provision for credit losses in the consolidated statements of earnings was $657 million for 2017, compared with $182 million for 2016, reflecting an increase in impairments, which included an impairment of approximately $130 million on a secured loan in 2017, and higher provision for credit losses primarily related to consumer loan growth.", + "Operating Expenses Our operating expenses are primarily influenced by compensation, headcount and levels of business activity.", + "Compensation and benefits includes salaries, discretionary compensation, amortization of equity awards and other items such as benefits.", + "Discretionary compensation is significantly impacted by, among other factors, the level of net revenues, overall financial performance, prevailing labor markets, business mix, the structure of our share-based compensation programs and the external environment.", + "In addition, see \u201cUse of Estimates\u201d for further information about expenses that may arise from litigation and regulatory proceedings.", + "The table below presents operating expenses by line item and headcount.", + "||Year Ended December|\n|$ in millions|2018|2017|2016|\n|Compensation and benefits|$12,328|$11,653|$11,448|\n|Brokerage, clearing, exchange and distribution fees|3,200|2,876|2,823|\n|Market development|740|588|457|\n|Communications and technology|1,023|897|809|\n|Depreciation and amortization|1,328|1,152|998|\n|Occupancy|809|733|788|\n|Professional fees|1,214|1,165|1,081|\n|Other expenses|2,819|1,877|1,900|\n|Total operating expenses|$23,461|$20,941|$20,304|\n|Headcount atperiod-end|36,600|33,600|32,400|\n", + "In the table above, the following reclassifications have been made to previously reported amounts to conform to the current presentation: \u2030 Regulatory-related fees that are paid to exchanges are now reported in brokerage, clearing, exchange and distribution fees.", + "Previously such amounts were reported in other expenses.", + "\u2030 Headcount consists of our employees, and excludes consultants and temporary staff previously reported as part of total staff.", + "As a result, expenses related to these consultants and temporary staff are now reported in professional fees.", + "Previously such amounts were reported in compensation and benefits expenses.2018 versus 2017.", + "Operating expenses in the consolidated statements of earnings were $23.46 billion for 2018, 12% higher than 2017.", + "Our efficiency ratio (total operating expenses divided by total net revenues) for 2018 was 64.1%, compared with 64.0% for 2017.", + "The increase in operating expenses compared with 2017 was primarily due to higher compensation and benefits expenses, reflecting improved operating performance, and significantly higher net provisions for litigation and regulatory proceedings.", + "Brokerage, clearing, exchange and distribution fees were also higher, reflecting an increase in activity levels, and technology expenses increased, reflecting higher expenses related to computing services.", + "In addition, expenses related to consolidated investments and our digital lending and deposit platform increased, with the increases primarily in depreciation and amortization expenses, market development expenses and other expenses.", + "The increase compared with 2017 also included $297 million related to the recently adopted revenue recognition standard.", + "See Note 3 to the consolidated financial statements for further information about ASU No.2014-09, \u201cRevenue from Contracts with Customers (Topic 606).", + "\u201d Net provisions for litigation and regulatory proceedings for 2018 were $844 million compared with $188 million for 2017.2018 included a $132 million charitable contribution to Goldman Sachs Gives, our donor-advised fund.", + "Compensation was reduced to fund this charitable contribution to Goldman Sachs Gives.", + "We ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution.", + "As of December 2018, headcount increased 9% compared with December 2017, reflecting an increase in technology professionals and investments in new business initiatives.2017 versus 2016.", + "Operating expenses in the consolidated statements of earnings were $20.94 billion for 2017, 3% higher than 2016.", + "Our efficiency ratio for 2017 was 64.0% compared with 65.9% for 2016.", + "The increase in operating expenses compared with 2016 was primarily driven by slightly higher compensation and benefits expenses and our investments to fund growth.", + "Higher expenses related to consolidated investments and our digital lending and deposit platform were primarily included in depreciation and amortization expenses, market development expenses and other expenses.", + "In addition, technology expenses increased, reflecting higher expenses related to cloud-based services and software depreciation, and professional fees increased, primarily related to consulting costs.", + "These increases were partially offset by lower net provisions for litigation and regulatory proceedings, and lower occupancy expenses (primarily related to exit costs in 2016).", + "Note 26 \u2013 Regulatory capital The Federal Reserve establishes capital requirements, including well-capitalized standards, for the consolidated financial holding company.", + "The OCC establishes similar minimum capital requirements and standards for the Firm\u2019s IDI, including JPMorgan Chase Bank, N. A. and Chase Bank USA, N. A.", + "Capital rules under Basel III establish minimum capital ratios and overall capital adequacy standards for large and internationally active U. S. bank holding companies and banks, including the Firm and its IDI subsidiaries.", + "Basel III set forth two comprehensive approaches for calculating RWA: a standardized approach (\u201cBasel III Standardized\u201d) and an advanced approach (\u201cBasel III Advanced\u201d).", + "Certain of the requirements of Basel III are subject to phase-in periods that began on January 1, 2014 and continue through the end of 2018 (\u201ctransitional period\u201d).", + "The three categories of risk-based capital and their predominant components under the Basel III Transitional rules are illustrated below:", + "||JPMorgan Chase & Co.|\n||Basel III Standardized Transitional||Basel III Advanced Transitional|\n|(in millions,except ratios)|Dec 31, 2017|Dec 31, 2016||Dec 31, 2017|Dec 31,2016|\n|Regulatory capital||||||\n|CET1 capital|$183,300|$182,967||$183,300|$182,967|\n|Tier 1 capital(a)|208,644|208,112||208,644|208,112|\n|Total capital|238,395|239,553||227,933|228,592|\n|Assets||||||\n|Risk-weighted|1,499,506|1,483,132|(e)|1,435,825|1,476,915|\n|Adjusted average(b)|2,514,270|2,484,631||2,514,270|2,484,631|\n|Capital ratios(c)||||||\n|CET1|12.2%|12.3%|(e)|12.8%|12.4%|\n|Tier 1(a)|13.9|14.0|(e)|14.5|14.1|\n|Total|15.9|16.2|(e)|15.9|15.5|\n|Tier 1 leverage(d)|8.3|8.4||8.3|8.4|\n", + "The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant IDI subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional at December 31, 2017 and 2016.", + "||JPMorgan Chase Bank, N.A.|\n||Basel III Standardized Transitional||Basel III Advanced Transitional|\n|(in millions,except ratios)|Dec 31, 2017|Dec 31, 2016||Dec 31, 2017|Dec 31,2016|\n|Regulatory capital||||||\n|CET1 capital|$184,375|$179,319||$184,375|$179,319|\n|Tier 1 capital(a)|184,375|179,341||184,375|179,341|\n|Total capital|195,839|191,662||189,419|184,637|\n|Assets||||||\n|Risk-weighted|1,335,809|1,311,240|(e)|1,226,534|1,262,613|\n|Adjusted average(b)|2,116,031|2,088,851||2,116,031|2,088,851|\n|Capital ratios(c)||||||\n|CET1|13.8%|13.7%|(e)|15.0%|14.2%|\n|Tier 1(a)|13.8|13.7|(e)|15.0|14.2|\n|Total|14.7|14.6|(e)|15.4|14.6|\n|Tier 1 leverage(d)|8.7|8.6||8.7|8.6|\n", + "Notes to consolidated financial statements Securities lending indemnifications Through the Firm\u2019s securities lending program, counterparties\u2019 securities, via custodial and non-custodial arrangements, may be lent to third parties.", + "As part of this program, the Firm provides an indemnification in the lending agreements which protects the lender against the failure of the borrower to return the lent securities.", + "To minimize its liability under these indemnification agreements, the Firm obtains cash or other highly liquid collateral with a market value exceeding 100% of the value of the securities on loan from the borrower.", + "Collateral is marked to market daily to help assure that collateralization is adequate.", + "Additional collateral is called from the borrower if a shortfall exists, or collateral may be released to the borrower in the event of overcollateralization.", + "If a borrower defaults, the Firm would use the collateral held to purchase replacement securities in the market or to credit the lending client or counterparty with the cash equivalent thereof.", + "Derivatives qualifying as guarantees The Firm transacts certain derivative contracts that have the characteristics of a guarantee under U. S. GAAP.", + "These contracts include written put options that require the Firm to purchase assets upon exercise by the option holder at a specified price by a specified date in the future.", + "The Firm may enter into written put option contracts in order to meet client needs, or for other trading purposes.", + "The terms of written put options are typically five years or less.", + "Derivatives deemed to be guarantees also includes stable value contracts, commonly referred to as \u201cstable value products\u201d, that require the Firm to make a payment of the difference between the market value and the book value of a counterparty\u2019s reference portfolio of assets in the event that market value is less than book value and certain other conditions have been met.", + "Stable value products are transacted in order to allow investors to realize investment returns with less volatility than an unprotected portfolio.", + "These contracts are typically longer-term or may have no stated maturity, but allow the Firm to elect to terminate the contract under certain conditions.", + "The notional value of derivatives guarantees generally represents the Firm\u2019s maximum exposure.", + "However, exposure to certain stable value products is contractually limited to a substantially lower percentage of the notional amount.", + "The fair value of derivative guarantees reflects the probability, in the Firm\u2019s view, of whether the Firm will be required to perform under the contract.", + "The Firm reduces exposures to these contracts by entering into offsetting transactions, or by entering into contracts that hedge the market risk related to the derivative guarantees.", + "The following table summarizes the derivatives qualifying as guarantees as of December 31, 2017, and 2016." + ], + "question_id": "simplong-test-262", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of Gain (loss) on assets related to executive deferred compensation plan in 2017,2016 and 2015 for Year Ended October 31,? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on November 1, 2010 or of results that may occur in the future.", + "|| Year Ended October 31,||\n|| 2012|| 2011||\n|| (in thousands)||\n|Revenue-1|$1,798,626||$1,682,036||\n|Net Income-1|$183,564|-2|$165,418|-2|\n", + "(1) Disclosure of the specific revenue contribution and net income of Magma subsequent to the acquisition, for the periods presented, is impracticable as the operations of Magma are integrated with the Company\u2019s operations and not separately tracked.", + "(2) 2012 supplemental pro forma net income was adjusted to exclude $33.5 million of acquisition\u0002related costs.", + "Corresponding periods of 2011 supplemental pro forma net income were adjusted to include these charges.", + "Other Fiscal 2012 Acquisitions During fiscal 2012, the Company acquired five other companies, including Emulation & Verification Engineering, S. A.", + "(EVE), for cash and preliminarily allocated the total purchase consideration of $212.9 million to the assets acquired and liabilities assumed based on their respective fair values at the acquisition dates, resulting in total goodwill of $123.4 million, of which $11.8 million is expected to be deductible for tax purposes.", + "Acquired identifiable intangible assets totaling $73.3 million were valued using appropriate valuation methods such as income or cost methods and are being amortized over their respective useful lives ranging from one to eight years.", + "During fiscal 2012, acquisition-related costs totaling $6.8 million were expensed as incurred in the consolidated statements of operations.", + "The Company continues to evaluate certain assets and liabilities related to business combinations completed within 12 months from the applicable acquisition date.", + "Additional information, which existed as of the acquisition date but is yet unknown to the Company, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date.", + "Changes to amounts recorded as assets or liabilities will be recorded as retrospective adjustments to the provisional amounts recognized as of the acquisition date and may result in a corresponding adjustment to goodwill.", + "Fiscal 2011 Acquisitions During fiscal 2011, the Company completed two acquisitions for cash and allocated the total purchase consideration of $37.4 million to the assets and liabilities acquired based on their respective fair values at the acquisition date resulting in goodwill of $30.6 million.", + "Acquired identifiable intangible assets of $9.3 million are being amortized over two to ten years.", + "Fiscal 2010 Acquisitions Virage Logic Corporation On September 2, 2010, the Company acquired all outstanding shares of Virage Logic Corporation (Virage).", + "Virage was a leading provider of embedded memories with test and repair, non-volatile memories (NVMs), logic libraries, and configurable cores for control and multimedia sub-systems.", + "The acquisition expanded the Company\u2019s DesignWare interface and analog IP portfolio.", + "Purchase Price.", + "Synopsys paid $12.00 per share for all outstanding shares, including vested awards of Virage for an aggregate cash payment of $299.5 million, net of cash acquired.", + "Additionally, the Company assumed unvested restricted stock units and stock appreciation rights, collectively called \u201cstock awards.", + "\u201d", + "Table of Contents SYNOPSYS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014Continued 54 Property and Equipment.", + "Property and equipment is recorded at cost less accumulated depreciation.", + "Assets, excluding land, are depreciated using the straight-line method over their estimated useful lives.", + "Leasehold improvements are amortized using the straight-line method over the remaining term of the lease or the economic useful life of the asset, whichever is shorter.", + "Depreciation expenses were $73.8 million, $71.1 million and $63.1 million in fiscal 2016, 2015 and 2014, respectively.", + "Repair and maintenance costs are expensed as incurred and such costs were $38.8 million, $32.3 million and $28.7 million in fiscal 2016, 2015 and 2014, respectively.", + "A summary of property and equipment, at cost less accumulated depreciation and amortization, as of October 31, 2016 and 2015 is as follows:", + "||October 31,|\n||2016|2015|\n||(in thousands)|\n|Computer and other equipment|$486,109|$436,425|\n|Buildings|68,194|67,943|\n|Furniture and fixtures|51,589|50,075|\n|Land|20,414|20,414|\n|Leasehold improvements|136,773|142,275|\n||763,079|717,132|\n|Less accumulated depreciation and amortization-1|-506,044|-454,055|\n|Total|$257,035|$263,077|\n", + "(1) Accumulated depreciation and amortization includes write-offs due to retirement of fully amortized fixed assets.", + "The useful lives of depreciable assets are as follows:", + "||Useful Life in Years|\n|Computer and other equipment|3-5|\n|Buildings|30|\n|Furniture and fixtures|5|\n|Leasehold improvements (average)|5|\n", + "Goodwill.", + "Goodwill represents the excess of the aggregate purchase price over the fair value of the net tangible and identifiable intangible assets acquired by the Company.", + "The carrying amount of goodwill is tested for impairment annually as of October 31 or more frequently if facts and circumstances warrant a review.", + "The Company determined that it is a single reporting unit for the purpose of goodwill impairment tests.", + "For purposes of assessing the impairment of goodwill, the Company estimates the value of the reporting unit using its market capitalization as the best evidence of fair value.", + "This fair value is then compared to the carrying value of the reporting unit.", + "During fiscal 2016, 2015 and 2014, there were no indicators of impairment to goodwill.", + "Intangible Assets.", + "Intangible assets consist of acquired technology, certain contract rights, customer relationships, trademarks and trade names, covenants not to compete, capitalized software, and in-process research and development.", + "These intangible assets are either acquired through business combinations, direct purchases, or internally developed capitalized software.", + "Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from one to ten years.", + "The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets, including property and equipment and intangible assets, may not be recoverable.", + "When such events or changes in circumstances occur, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such asset group will be recovered through the undiscounted future cash flow.", + "If the undiscounted future cash flow is less than the carrying amount of the asset group, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the asset group.", + "The Company had no impairments of any long-lived assets in fiscal 2016, 2015 or 2014.", + "The following is a summary of our restructuring activities:", + "|Fiscal Year|Balance at Beginning of Period|Costs Incurred (Reduced)|Cash Payments|Balance at End of Period|\n||(in millions)|\n|2017|$5.7|$36.6|$-24.8|$17.5|\n|2016|$\u2014|$9.6|$-3.9|$5.7|\n|2015|$\u2014|$15.1|$-15.1|$\u2014|\n", + "See Note 2 of Notes to Consolidated Financial Statements.", + "Other Income (Expense), Net", + "||Year Ended October 31,|$ Change|% Change|$ Change|% Change|\n||2017|2016|2015|2016 to 2017|2015 to 2016|\n||(dollars in millions)|\n|Interest income|$7.2|$3.7|$2.8|$3.5|95%|$0.9|32%|\n|Interest expense|-7.3|-3.8|-2.8|-3.5|92%|-1.0|36%|\n|Gain (loss) on assets related to executive deferred compensation plan|29.6|4.4|3.7|25.2|573%|0.7|19%|\n|Foreign currency exchange gain (loss)|3.4|0.2|6.3|3.2|1,600%|-6.1|-97%|\n|Other, net|2.6|7.7|5.1|-5.1|-66%|2.6|51%|\n|Total|$35.5|$12.2|$15.1|$23.3|191%|$-2.9|-19%|\n", + "The net increase in other income (expense) in fiscal 2017 as compared to fiscal 2016 was primarily due to higher gains in the market value of our executive deferred compensation plan assets.", + "The net decrease in other income (expense) in fiscal 2016 as compared to fiscal 2015 was primarily due to lower gains in foreign currency exchange as a result of the weakened U. S. dollar against the related foreign currencies, partially offset by increased income on foreign exchange hedging contracts that was recorded in Other, net.", + "Income Taxes Our effective tax rate for fiscal 2017 was 64.4%, which included income tax expense of $166.2 million relating to a repatriation of foreign earnings of $825 million in anticipation of potential U. S. corporate tax reform, $30.5 million due to an increase in valuation allowance on state deferred tax assets, a settlement with the Korean National Tax Service for the audit of fiscal years 2012 to 2016 of $7.9 million, and tax expense related to the integration of acquired technologies of $36.4 million.", + "These expenses were partially offset by excess tax benefits from stock-based compensation of $38.1 million, a U. S. federal research tax credit of $25.5 million, and a settlement with the Taiwanese tax authorities for fiscal 2014 of $10.9 million.", + "Our effective tax rate for fiscal 2016 was 19.0%, which included tax benefits from a settlement with the Internal Revenue Service (IRS) of $20.7 million for fiscal 2015 and the permanent reinstatement of the U. S. federal research tax credit of approximately $37.1 million, partially offset by tax expense from the integration of acquired technologies of $37.5 million, the impact of undistributed foreign earnings of $9.6 million, and an increase in the valuation allowance on deferred tax assets of $14.0 million as a result of changes in the expected utilization of state tax credits.", + "The reinstatement of the research tax credit resulted in an additional tax credit for ten months of fiscal 2015 and the full year of fiscal 2016, which was recorded in fiscal 2016.", + "Our effective tax rate for fiscal 2015 was 19.8%, which included tax expense from the integration of acquired technologies of $33.0 million partially offset by tax benefits from the reinstatement of the U. S. federal research tax credit of", + "VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 9.", + "Debt - continued Our revolving credit facility and senior unsecured notes contain financial covenants which require us to maintain minimum interest coverage ratios and limit our debt to market capitalization ratios.", + "We believe that we have complied with all of our financial covenants as of December 31, 2007.", + "On May 9, 2006, we executed supplemental indentures with respect to our senior unsecured notes due 2007, 2009 and 2010 (collectively, the \u201cNotes\u201d), pursuant to our consent solicitation statement dated April 18, 2006, as amended.", + "Holders of approximately 96.7% of the aggregate principal amount of the Notes consented to the solicitation.", + "The supplemental indentures contain modifications of certain covenants and related defined terms governing the terms of the Notes to make them consistent with corresponding provisions of the covenants and defined terms included in the senior unsecured notes due 2011 issued on February 16, 2006.", + "The supplemental indentures also include a new covenant that provides for an increase in the interest rate of the Notes upon certain decreases in the ratings assigned by rating agencies to the Notes.", + "In connection with the consent solicitation we paid an aggregate fee of $2,241,000 to the consenting note holders, which will be amortized into expense over the remaining term of the Notes.", + "In addition, we incurred advisory and professional fees aggregating $1,415,000, which were expensed in 2006.", + "The net carrying amount of properties collateralizing the notes and mortgages payable amounted to $10.920 billion at December 31, 2007.", + "As at December 31, 2007, the principal repayments required for the next five years and thereafter are as follows:" + ], + "question_id": "simplong-test-263", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the 30 % of total Fair Value in 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Aeronautics\u2019 operating profit for 2012 increased $69 million, or 4%, compared to 2011.", + "The increase was attributable to higher operating profit of approximately $105 million from C-130 programs due to an increase in risk retirements; about $50 million from F-16 programs due to higher aircraft deliveries partially offset by a decline in risk retirements; approximately $50 million from F-35 production contracts due to increased production volume and risk retirements; and about $50 million from the completion of purchased intangible asset amortization on certain F-16 contracts.", + "Partially offsetting the increases was lower operating profit of about $90 million from the F-35 development contract primarily due to the inception-to-date effect of reducing the profit booking rate in the second quarter of 2012; approximately $50 million from decreased production volume and risk retirements on the F-22 program partially offset by a resolution of a contractual matter in the second quarter of 2012; and approximately $45 million primarily due to a decrease in risk retirements on other sustainment activities partially offset by various other Aeronautics programs due to increased risk retirements and volume.", + "Operating profit for C-5 programs was comparable to 2011.", + "Adjustments not related to volume, including net profit booking rate adjustments and other matters described above, were approximately $30 million lower for 2012 compared to 2011.", + "Backlog Backlog decreased in 2013 compared to 2012 mainly due to lower orders on F-16, C-5, and C-130 programs, partially offset by higher orders on the F-35 program.", + "Backlog decreased in 2012 compared to 2011 mainly due to lower orders on F-35 and C-130 programs, partially offset by higher orders on F-16 programs.", + "Trends We expect Aeronautics\u2019 net sales to increase in 2014 in the mid-single digit percentage range as compared to 2013 primarily due to an increase in net sales from F-35 production contracts.", + "Operating profit is expected to increase slightly from 2013, resulting in a slight decrease in operating margins between the years due to program mix.", + "Information Systems & Global Solutions Our IS&GS business segment provides advanced technology systems and expertise, integrated information technology solutions, and management services across a broad spectrum of applications for civil, defense, intelligence, and other government customers.", + "IS&GS has a portfolio of many smaller contracts as compared to our other business segments.", + "IS&GS has been impacted by the continued downturn in federal information technology budgets.", + "IS&GS\u2019 operating results included the following (in millions):", + "||2013|2012|2011|\n|Net sales|$8,367|$8,846|$9,381|\n|Operating profit|759|808|874|\n|Operating margins|9.1%|9.1%|9.3%|\n|Backlog at year-end|8,300|8,700|9,300|\n", + "2013 compared to 2012 IS&GS\u2019 net sales decreased $479 million, or 5%, for 2013 compared to 2012.", + "The decrease was attributable to lower net sales of about $495 million due to decreased volume on various programs (command and control programs for classified customers, NGI, and ERAM programs); and approximately $320 million due to the completion of certain programs (such as Total Information Processing Support Services, the Transportation Worker Identification Credential (TWIC), and ODIN).", + "The decrease was partially offset by higher net sales of about $340 million due to the start-up of certain programs (such as the DISA GSM-O and the National Science Foundation Antarctic Support).", + "IS&GS\u2019 operating profit decreased $49 million, or 6%, for 2013 compared to 2012.", + "The decrease was primarily attributable to lower operating profit of about $55 million due to certain programs nearing the end of their lifecycles, partially offset by higher operating profit of approximately $15 million due to the start-up of certain programs.", + "Adjustments not related to volume, including net profit booking rate adjustments and other matters, were comparable for 2013 compared to 2012.2012 compared to 2011 IS&GS\u2019 net sales for 2012 decreased $535 million, or 6%, compared to 2011.", + "The decrease was attributable to lower net sales of approximately $485 million due to the substantial completion of various programs during 2011 (primarily JTRS; ODIN; and U. K. Census); and about $255 million due to lower volume on numerous other programs (primarily Hanford;", + "The table below provides information on the location and pretax gain or loss amounts for derivatives that are: (i) designated in a fair value hedging relationship, (ii) designated in a cash flow hedging relationship, (iii) designated in a foreign currency net investment hedging relationship and (iv) not designated in a hedging relationship", + "|Years Ended December 31|2011|2010|\n|Derivatives designated in fair value hedging relationships|||\n|Interest rate swap contracts|||\n|Amount of gain recognized inOther (income) expense, neton derivatives|$-196|$-23|\n|Amount of loss recognized inOther (income) expense, neton hedged item|196|23|\n|Derivatives designated in foreign currency cash flow hedging relationships|||\n|Foreign exchange contracts|||\n|Amount of loss reclassified fromAOCItoSales|85|7|\n|Amount of loss (gain) recognized inOCIon derivatives|143|-103|\n|Derivatives designated in foreign currency net investment hedging relationships|||\n|Foreign exchange contracts|||\n|Amount of gain recognized inOther (income) expense, netonderivatives(1)|-10|-1|\n|Amount of loss recognized inOCIon deriviatives|122|24|\n|Derivatives not designated in a hedging relationship|||\n|Foreign exchange contracts|||\n|Amount of gain recognized inOther (income) expense, netonderivatives(2)|-113|-33|\n|Amount of gain recognized inSales|\u2014|-81|\n", + "(1) There was no ineffectiveness on the hedge.", + "Represents the amount excluded from hedge effectiveness testing.", + "(2) These derivative contracts mitigate changes in the value of remeasured foreign currency denominated monetary assets and liabilities attributable to changes in foreign currency exchange rates.", + "At December 31, 2011, the Company estimates $18 million of pretax net unrealized losses on derivatives maturing within the next 12 months that hedge foreign currency denominated sales over that same period will be reclassified from AOCI to Sales.", + "The amount ultimately reclassified to Sales may differ as foreign exchange rates change.", + "Realized gains and losses are ultimately determined by actual exchange rates at maturity.", + "Investments in Debt and Equity Securities Information on available-for-sale investments at December 31 is as follows:", + "|| 2011|2010|\n|||| Gross Unrealized|||Gross Unrealized|\n|| Fair Value| Amortized Cost| Gains| Losses|Fair Value|Amortized Cost|Gains|Losses|\n|Corporate notes and bonds|$2,032|$2,024|$16|$-8|$1,133|$1,124|$12|$-3|\n|Commercial paper|1,029|1,029|\u2014|\u2014|1,046|1,046|\u2014|\u2014|\n|U.S. government and agency securities|1,021|1,018|3|\u2014|500|501|1|-2|\n|Municipal securities|\u2014|\u2014|\u2014|\u2014|361|359|4|-2|\n|Asset-backed securities|292|292|1|-1|171|170|1|\u2014|\n|Mortgage-backed securities|223|223|1|-1|112|108|5|-1|\n|Foreign government bonds|72|72|\u2014|\u2014|10|10|\u2014|\u2014|\n|Other debt securities|3|1|2|\u2014|3|1|2|\u2014|\n|Equity securities|397|383|14|\u2014|321|295|34|-8|\n||$5,069|$5,042|$37|$-10|$3,657|$3,614|$59|$-16|\n", + "Available-for-sale debt securities included in Short-term investments totaled $1.4 billion at December 31, 2011.", + "Of the remaining debt securities, $2.9 billion mature within five years.", + "At December 31, 2011, there were no debt securities pledged as collateral.", + "The table below provides a summary of the changes in fair value of all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):", + "|Years Ended December 31|2011|2010|\n|Beginning balance January 1|$13|$72|\n|Sales|-13|-67|\n|Total realized and unrealized gains (losses)Included in:|||\n|Earnings-1|\u2014|18|\n|Comprehensive income|\u2014|-10|\n|Ending balance December 31|$\u2014|$13|\n|Losses recorded in earnings for Level 3 assets still held atDecember 31|$\u2014|$\u2014|\n", + "(1) Amounts are recorded in Other (income) expense, net.", + "Financial Instruments Not Measured at Fair Value Some of the Company\u2019s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature, such as cash and cash equivalents, receivables and payables.", + "The estimated fair value of loans payable and long-term debt (including current portion) at December 31, 2011 was $19.5 billion compared with a carrying value of $17.5 billion and at December 31, 2010 was $18.7 billion compared with a carrying value of $17.9 billion.", + "Fair value was estimated using quoted dealer prices.", + "Concentrations of Credit Risk On an ongoing basis, the Company monitors concentrations of credit risk associated with corporate and government issuers of securities and financial institutions with which it conducts business.", + "Credit exposure limits are established to limit a concentration with any single issuer or institution.", + "Cash and investments are placed in instruments that meet high credit quality standards, as specified in the Company\u2019s investment policy guidelines.", + "Approximately three-quarters of the Company\u2019s cash and cash equivalents are invested in three highly rated money market funds.", + "The majority of the Company\u2019s accounts receivable arise from product sales in the United States and Europe and are primarily due from drug wholesalers and retailers, hospitals, government agencies, managed health care providers and pharmacy benefit managers.", + "The Company monitors the financial performance and creditworthiness of its customers so that it can properly assess and respond to changes in their credit profile.", + "The Company also continues to monitor economic conditions, including the volatility associated with international sovereign economies, and associated impacts on the financial markets and its business, taking into consideration the global economic downturn and the sovereign debt issues in certain European countries.", + "The Company continues to monitor the credit and economic conditions within Greece, Spain, Italy and Portugal, among other members of the EU.", + "These deteriorating economic conditions, as well as inherent variability of timing of cash receipts, have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect accounts receivable outstanding.", + "As such, time value of money discounts have been recorded for those customers for which collection of accounts receivable is expected to be in excess of one year.", + "The Company does not expect to have write-offs or adjustments to accounts receivable which would have a material adverse effect on its financial position, liquidity or results of operations.", + "As of December 31, 2011, the Company\u2019s accounts receivable in Greece, Italy, Spain and Portugal totaled approximately $1.6 billion.", + "Of this amount, hospital and public sector receivables were approximately $1.1 billion in the aggregate, of which approximately 8%, 36%, 47% and 9% related to Greece, Italy, Spain and Portugal, respectively.", + "As of December 31, 2011, the Company\u2019s total accounts receivable outstanding for more than one year were approximately $400 million, of which approximately 90% related to accounts receivable in Greece, Italy, Spain and Portugal, mostly comprised of hospital and public sector receivables.", + "Other Animal Health Animal Health includes pharmaceutical and vaccine products for the prevention, treatment and control of disease in all major farm and companion animal species.", + "Animal Health sales are affected by intense competition and the frequent introduction of generic products.", + "Global sales of Animal Health products grew 11% in 2011 to $3.3 billion from $2.9 billion in 2010.", + "Foreign exchange favorably affected global sales performance by 3% in 2011.", + "The increase in sales was driven by positive performance among cattle, swine, poultry and companion animal products.", + "Global sales of Animal Health products were $494 million for the post-Merger period in 2009.", + "Consumer Care Consumer Care products include over-the-counter, foot care and sun care products such as Claritin non-drowsy antihistamines; Dr. Scholl\u2019s foot care products; Coppertone sun care products; and MiraLAX, a treatment for occasional constipation.", + "Global sales of Consumer Care products increased 1% in 2011 to $1.8 billion reflecting strong performance of Coppertone, offset by declines in Dr. Scholl\u2019s and Claritin.", + "Consumer Care product sales were $149 million for the post-Merger period in 2009.", + "Consumer Care product sales are affected by competition and consumer spending patterns.", + "Alliances AstraZeneca has an option to buy Merck\u2019s interest in a subsidiary, and through it, Merck\u2019s interest in Nexium and Prilosec, exercisable in 2012, and the Company believes that it is likely that AstraZeneca will exercise that option (see \u201cSelected Joint Venture and Affiliate Information\u201d below).", + "If AstraZeneca exercises its option, the Company will no longer record equity income from AZLP and supply sales to AZLP will decline substantially." + ], + "question_id": "simplong-test-264", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Paid losses of At December 31, 2016, and Vested of Years Ended December 31, 2016 Shares ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part II Item 5\u2014Market for Registrant\u2019s Common Equity and Related Stockholder Matters Market Information.", + "The common stock of the Company is currently traded on the New York Stock Exchange (NYSE) under the symbol \u2018\u2018AES.", + "\u2019\u2019 The following tables set forth the high and low sale prices for the common stock as reported by the NYSE for the periods indicated.", + "|2002|High|Low|2001|High|Low|\n|First Quarter|$17.84|$4.11|First Quarter|$60.15|$41.30|\n|Second Quarter|9.17|3.55|Second Quarter|52.25|39.95|\n|Third Quarter|4.61|1.56|Third Quarter|44.50|12.00|\n|Fourth Quarter|3.57|0.95|Fourth Quarter|17.80|11.60|\n", + "Holders.", + "As of March 3, 2003, there were 9,663 record holders of the Company\u2019s Common Stock, par value $0.01 per share.", + "Dividends.", + "Under the terms of the Company\u2019s senior secured credit facilities entered into with a commercial bank syndicate, the Company is not allowed to pay cash dividends.", + "In addition, the Company is precluded from paying cash dividends on its Common Stock under the terms of a guaranty to the utility customer in connection with the AES Thames project in the event certain net worth and liquidity tests of the Company are not met.", + "The ability of the Company\u2019s project subsidiaries to declare and pay cash dividends to the Company is subject to certain limitations in the project loans, governmental provisions and other agreements entered into by such project subsidiaries.", + "Securities Authorized for Issuance under Equity Compensation Plans.", + "See the information contained under the caption \u2018\u2018Securities Authorized for Issuance under Equity Compensation Plans\u2019\u2019 of the Proxy Statement for the Annual Meeting of Stockholders of the Registrant to be held on May 1, 2003, which information is incorporated herein by reference.", + "Key actuarial assumptions contain no explicit provisions for reserve uncertainty nor does the Company supplement the actuarially determined reserves for uncertainty.", + "Carried reserves at each reporting date are the Company\u2019s best estimate of ultimate unpaid losses and LAE at that date.", + "The Company completes detailed reserve studies for each exposure group annually for both reinsurance and insurance operations.", + "The completed annual reserve studies are \u201crolled-forward\u201d for each accounting period until the subsequent reserve study is completed.", + "Analyzing the roll-forward process involves comparing actual reported losses to expected losses based on the most recent reserve study.", + "The Company analyzes significant variances between actual and expected losses and post adjustments to its reserves as warranted.", + "The Company continues to receive claims under expired insurance and reinsurance contracts asserting injuries and/or damages relating to or resulting from environmental pollution and hazardous substances, including asbestos.", + "Environmental claims typically assert liability for (a) the mitigation or remediation of environmental contamination or (b) bodily injury or property damage caused by the release of hazardous substances into the land, air or water.", + "Asbestos claims typically assert liability for bodily injury from exposure to asbestos or for property damage resulting from asbestos or products containing asbestos.", + "The Company\u2019s reserves include an estimate of the Company\u2019s ultimate liability for A&E claims.", + "The Company\u2019s A&E liabilities emanate from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "All of the contracts of insurance and reinsurance, under which the Company has received claims during the past three years, expired more than 20 years ago.", + "There are significant uncertainties surrounding the Company\u2019s reserves for its A&E losses.", + "A&E exposures represent a separate exposure group for monitoring and evaluating reserve adequacy.", + "The following table summarizes incurred losses with respect to A&E reserves on both a gross and net of reinsurance basis for the periods indicated:", + "||At December 31,|\n|(Dollars in thousands)|2017|2016|2015|\n|Gross basis:||||\n|Beginning of period reserves|$441,111|$433,117|$476,205|\n|Incurred losses|90,009|73,336|40,000|\n|Paid losses|-82,126|-65,342|-83,088|\n|End of period reserves|$448,994|$441,111|$433,117|\n|Net basis:||||\n|Beginning of period reserves|$319,072|$319,620|$458,211|\n|Incurred losses|37,137|53,909|38,440|\n|Paid losses|-38,128|-54,457|-177,031|\n|End of period reserves|$318,081|$319,072|$319,620|\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley, a Delaware domiciled insurance company and wholly\u0002owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater Insurance Company.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which related entirely to A&E business and had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Everest Re Bermuda transferred cash of $140,279 thousand, an amount equal to the net loss reserves as of the closing date.", + "The maximum liability retroceded under the retrocession treaty will be $440,279 thousand, equal to the retrocession payment plus $300,000 thousand.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "The following table summarizes information about share options outstanding for the period indicated:", + "||At December 31, 2017|\n||Options Outstanding|Options Exercisable|\n|||Weighted-||||\n|||Average|Weighted-||Weighted-|\n||Number|Remaining|Average|Number|Average|\n|Range of|Outstanding|Contractual|Exercise|Exercisable|Exercise|\n|Exercise Prices|at 12/31/17|Life|Price|at 12/31/17|Price|\n|$71.7150 - $78.1700|79,760|1.1|$71.72|79,760|$71.72|\n|$78.1800 - $85.6300|61,900|2.1|84.63|61,900|84.63|\n|$85.6400 - $87.4700|88,590|3.1|86.62|88,590|86.62|\n|$87.4800 - $89.4100|110,060|4.1|88.32|110,060|88.32|\n|$89.4200 - $110.1300|20,054|1.1|97.41|20,054|97.41|\n||360,364|2.7|84.10|360,364|84.10|\n", + "The following table summarizes the status of the Company\u2019s non-vested shares and changes for the periods indicated:", + "||Years Ended December 31,|\n||2017|2016|2015|\n|||Weighted-||Weighted-||Weighted-|\n|||Average||Average||Average|\n|||Grant Date||Grant Date||Grant Date|\n|Restricted (non-vested) Shares|Shares|Fair Value|Shares|Fair Value|Shares|Fair Value|\n|Outstanding at January 1,|435,338|$164.21|435,336|$143.02|467,745|$120.84|\n|Granted|160,185|234.01|173,546|186.37|156,262|178.80|\n|Vested|152,397|151.80|145,834|130.54|154,387|113.12|\n|Forfeited|21,865|187.82|27,710|147.32|34,284|138.19|\n|Outstanding at December 31,|421,261|194.01|435,338|164.21|435,336|143.02|\n", + "As of December 31, 2017, there was $56,981 thousand of total unrecognized compensation cost related to non-vested share-based compensation expense.", + "That cost is expected to be recognized over a weighted\u0002average period of 3.1 years.", + "The total fair value of shares vested during the years ended December 31, 2017, 2016 and 2015, was $23,134 thousand, $19,037 thousand and $17,464 thousand, respectively.", + "The tax benefit realized from the shares vested for the year ended December 31, 2017 was $10,130 thousand.", + "In addition to the 2010 Employee Plan, the 2009 Director Plan and the 2003 Director Plan, Group issued 404 common shares in 2017, 547 common shares in 2016 and 426 common shares in 2015 to the Company\u2019s non-employee directors as compensation for their service as directors.", + "These issuances had aggregate values of approximately $94 thousand, $103 thousand and $75 thousand, respectively.", + "Since its 1995 initial public offering, the Company has issued to certain key employees of the Company 2,141,557 restricted common shares, of which 280,452 restricted shares have been cancelled.", + "The Company has issued to non-employee directors of the Company 145,817 restricted common shares, of which no restricted shares have been cancelled.", + "The Company acquired 60,453, 70,010 and 82,277 common shares at a cost of $14,240 thousand, $12,111 thousand and $14,666 thousand in 2017, 2016 and 2015, respectively, from employees and non-employee directors who chose to pay required withholding taxes and/or the exercise cost on option exercises or restricted share vestings by withholding shares.", + "The Company\u2019s loss reserving methodologies continuously monitor the emergence of loss and loss development trends, seeking, on a timely basis, to both adjust reserves for the impact of trend shifts and to factor the impact of such shifts into the Company\u2019s underwriting and pricing on a prospective basis.", + "Reserves for Asbestos and Environmental Losses and LAE.", + "At December 31, 2017, the Company\u2019s gross reserves for A&E claims represented 3.8% of its total reserves.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "Liabilities related to Mt.", + "McKinley\u2019s direct business, which had been ceded to Bermuda Re previously, were retroceded to an affiliate of Clearwater Insurance Company in July 2015, concurrent with the sale of Mt.", + "McKinley to Clearwater Insurance Company.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims and ultimate values cannot be estimated using traditional reserving techniques.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Asbestos and Environmental Exposures\u201d and Item 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 3 of Notes to Consolidated Financial Statements.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the periods indicated:", + "||Years Ended December 31,|\n|(Dollars in millions)|2017|2016|2015|\n|Gross reserves|$449.0|$441.1|$433.1|\n|Reinsurance receivable|-130.9|-122.0|-113.5|\n|Net reserves|$318.1|$319.1|$319.6|\n|(Some amounts may not reconcile due to rounding.)||||\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley to Clearwater Insurance Company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Bermuda Re transferred cash of $140.3 million, an amount equal to the net loss reserves as of the closing date.", + "Of the $140.3 million of net loss reserves retroceded, $100.5 million were related to A&E business.", + "The maximum liability retroceded under the retrocession treaty will be $440.3 million, equal to the retrocession payment plus $300.0 million.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "In 2017, during its normal exposure analysis, the Company increased its net A&E reserves by $37.1 million, all of which related to its assumed reinsurance business.", + "Additional losses, including those relating to latent injuries and other exposures, which are as yet unrecognized, the type or magnitude of which cannot be foreseen by either the Company or the industry, may emerge in the future.", + "Such future emergence could have material adverse effects on the Company\u2019s future financial condition, results of operations and cash flows.", + "Future Policy Benefit Reserves.", + "The Company wrote a limited amount of life and annuity reinsurance in its Bermuda segment.", + "Future policy benefit liabilities for annuities are reported at the accumulated fund balance of these contracts.", + "Reserves for those liabilities include mortality provisions with respect to life and annuity claims, both reported and unreported.", + "Actual experience in a particular period may be worse than assumed experience and, consequently, may adversely affect the Company\u2019s operating results for that period.", + "See ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1F of Notes to Consolidated Financial Statements." + ], + "question_id": "simplong-test-265", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in the allowance for loan losses from 2007 to 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements\u2014(Continued) Note 11.", + "Strategic Investment (Continued) The Company estimated the fair value of the embedded derivative and warrant associated with the WorldHeart transaction using the Black\u0002Scholes option valuation model at the initial dates of investment.", + "The fair value of the embedded derivative and warrant were calculated using the following weighted-average assumptions:", + "||Conversion Feature| Warrant|\n||December 11, 2007|January 3, 2008|December 11, 2007| January 3, 2008|\n|Stock price|$2.59|$2.39|$2.59|$2.39|\n|Exercise Price|$1.75|$1.75|$0.01|$0.01|\n|Risk-free interest rate|2.94%|2.83%|3.32%|3.26%|\n|Expected option life (years)|2.00|1.94|5.00|4.94|\n|Expected volatility|91.7%|97.1%|131.9%|131.3%|\n", + "Note 12.", + "Stock Award Plans and Stock Based Compensation Stock Option Plans Virtually all outstanding stock options of the Company as of March 31, 2008 were granted with an exercise price equal to the fair market value on the date of grant.", + "For options and restricted stock granted below fair market value, compensation expense is recognized ratably over the vesting period.", + "Outstanding stock options, if not exercised, expire 10 years from the date of grant.", + "The 1992 Combination Stock Option Plan (the \u201cCombination Plan\u201d), as amended, was adopted in September 1992 as a combination and amendment of the Company\u2019s then outstanding Incentive Stock Option Plan and Nonqualified Plan.", + "A total of 2,670,859 options were awarded from the Combination Plan during its ten year restatement term that ended on May 1, 2002.", + "As of March 31, 2008, 141,300 of these options remain outstanding, fully vested and eligible for future exercise.", + "The 1998 Equity Incentive Plan, (the \u201cEquity Incentive Plan\u201d), was adopted by the Company in August 1998.", + "The Equity Incentive Plan provides for grants of options to key employees, directors, advisors and consultants as either incentive stock options or nonqualified stock options as determined by the Company\u2019s Board of Directors.", + "A maximum of 1,000,000 shares of common stock may be awarded under this plan.", + "Options granted under the Equity Incentive Plan are exercisable at such times and subject to such terms as the Board of Directors may specify at the time of each stock option grant.", + "Options outstanding under the Equity Incentive Plan have vesting periods of three to five years from the date of grant and options awarded expire ten years from the date of grant.", + "The 2000 Stock Incentive Plan, (the \u201c2000 Plan\u201d), as amended, was adopted by the Company in August 2000.", + "The 2000 Plan provides for grants of options to key employees, directors, advisors and consultants to the Company or its subsidiaries as either incentive or nonqualified stock options as determined by the Company\u2019s Board of Directors.", + "Up to 4,900,000 shares of common stock may be awarded under the 2000 Plan and are exercisable at such times and subject to such terms as the Board of Directors may specify at the time of each stock option grant.", + "Options outstanding under the 2000 Plan generally vest four years from the date of grant and options awarded expire ten years from the date of grant.", + "The Company has a nonqualified stock option plan for non-employee directors (the \u201cDirectors\u2019 Plan\u201d).", + "The Directors\u2019 Plan, as amended, was adopted in July 1989 and provides for grants of options to purchase shares of the Company\u2019s common stock to non-employee Directors of the Company.", + "Up to 400,000 shares of common stock may be awarded under the Directors\u2019 Plan.", + "Options outstanding under the Director\u2019s Plan have vesting periods of one to five years from the date of grant and options expire ten years from the date of grant.", + "18.", + "ALLOWANCE FOR CREDIT LOSSES", + "|In millions of dollars|2009|2008-1|2007-1|\n|Allowance for loan losses at beginning of year|$29,616|$16,117|$8,940|\n|Gross credit losses|-32,784|-20,760|-11,864|\n|Gross recoveries|2,043|1,749|1,938|\n|Net credit (losses) recoveries (NCLs)|$-30,741|$-19,011|$-9,926|\n|NCLs|$30,741|$19,011|$9,926|\n|Net reserve builds (releases)|5,741|11,297|6,550|\n|Net specific reserve builds (releases)|2,278|3,366|356|\n|Total provision for credit losses|$38,760|$33,674|$16,832|\n|Other, net-2|-1,602|-1,164|271|\n|Allowance for loan losses at end of year|$36,033|$29,616|$16,117|\n|Allowance for credit losses on unfunded lending commitments at beginning of year-3|$887|$1,250|$1,100|\n|Provision for unfunded lending commitments|244|-363|150|\n|Allowance for credit losses on unfunded lending commitments at end of year-3|$1,157|$887|$1,250|\n|Total allowance for loans, leases, and unfunded lending commitments|$37,190|$30,503|$17,367|\n", + "(1) Reclassified to conform to the current period\u2019s presentation.", + "(2) 2009 primarily includes reductions to the loan loss reserve of approximately $543 million related to securitizations, approximately $402 million related to the sale or transfers to held-for-sale of U. S. Real Estate Lending Loans, and $562 million related to the transfer of the U. K. Cards portfolio to held-for-sale.2008 primarily includes reductions to the loan loss reserve of approximately $800 million related to FX translation, $102 million related to securitizations, $244 million for the sale of the German retail banking operation, $156 million for the sale of CitiCapital, partially offset by additions of $106 million related to the Cuscatl\u00e1n and Bank of Overseas Chinese acquisitions.2007 primarily includes reductions to the loan loss reserve of $475 million related to securitizations and transfers to loans held-for-sale, and reductions of $83 million related to the transfer of the U. K. CitiFinancial portfolio to held-for-sale, offset by additions of $610 million related to the acquisitions of Egg, Nikko Cordial, Grupo Cuscatl\u00e1n and Grupo Financiero Uno.", + "(3) Represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.", + "INSTITUTIONAL CLIENTS GROUP Institutional Clients Group (ICG) includes Securities and Banking and Transaction Services.", + "ICG provides corporate, institutional and high-net-worth clients with a full range of products and services, including cash management, trading, underwriting, lending and advisory services, around the world.", + "ICG\u2019s international presence is supported by trading floors in approximately 75 countries and a proprietary network within Transaction Services in over 90 countries.", + "At December 31, 2009, ICG had approximately $866 billion of assets and $442 billion of deposits.", + "|In millions of dollars|2009|2008|2007|% Change 2009 vs. 2008|% Change 2008 vs. 2007|\n|Commissions and fees|$2,075|$2,876|$3,156|-28%|-9%|\n|Administration and other fiduciary fees|4,964|5,413|5,014|-8|8|\n|Investment banking|4,685|3,329|5,399|41|-38|\n|Principal transactions|6,001|6,544|7,012|-8|-7|\n|Other|1,971|-1,021|1,169|NM|NM|\n|Total non-interest revenue|$19,696|$17,141|$21,750|15%|-21%|\n|Net interest revenue (including dividends)|17,739|17,740|11,704|\u2014|52|\n|Total revenues, net of interest expense|$37,435|$34,881|$33,454|7%|4%|\n|Total operating expenses|17,568|20,955|20,812|-16|1|\n|Net credit losses|723|917|310|-21|NM|\n|Provision for unfunded lending commitments|138|-191|79|NM|NM|\n|Credit reservebuild|857|1,149|167|-25|NM|\n|Provision for benefits and claims|\u2014|\u2014|1|\u2014|-100|\n|Provisions for loan losses and benefits and claims|$1,718|$1,875|$557|-8%|NM|\n|Income from continuing operations before taxes|$18,149|$12,051|$12,085|51%|\u2014|\n|Income taxes|5,261|2,746|3,116|92|-12%|\n|Income from continuing operations|$12,888|$9,305|$8,969|39%|4%|\n|Net income attributable to noncontrolling interests|68|18|45|NM|-60|\n|Net income|$12,820|$9,287|$8,924|38%|4%|\n|Average assets(in billions of dollars)|$839|$1,037|$1,154|-19%|-10%|\n|Return on assets|1.53%|0.90%|0.77%|||\n|Revenues by region||||||\n|North America|$11,926|$13,148|$10,644|-9%|24%|\n|EMEA|13,424|9,683|10,755|39|-10|\n|Latin America|4,784|3,808|4,360|26|-13|\n|Asia|7,301|8,242|7,695|-11|7|\n|Total|$37,435|$34,881|$33,454|7%|4%|\n|Income from continuing operations by region||||||\n|North America|$3,032|$2,598|$1,896|17%|37%|\n|EMEA|4,680|1,902|2,411|NM|-21|\n|Latin America|2,116|1,636|1,899|29|-14|\n|Asia|3,060|3,169|2,763|-3|15|\n|Total|$12,888|$9,305|$8,969|39%|4%|\n|Average loans by region(in billions of dollars)||||||\n|North America|$45|$50|$51|-10%|-2%|\n|EMEA|44|54|56|-19|-4|\n|Latin America|21|24|26|-13|-8|\n|Asia|28|37|38|-24|-3|\n|Total|$138|$165|$171|-16%|-4%|\n" + ], + "question_id": "simplong-test-266", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in cash provided by operating activities from 2007 to 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Issuance Costs In connection with the offering of common equity units, the Holding Company incurred $55.3 million of issuance costs of which $5.8 million related to the issuance of the junior subordinated debentures underlying common equity units which funded the Series A and Series B trust preferred securities and $49.5 million related to the expected issuance of the common stock under the stock purchase contracts.", + "The $5.8 million in debt issuance costs were capitalized, included in other assets, and amortized using the effective interest method over the period from issuance date of the common equity units to the initial and subsequent stock purchase date.", + "The remaining $49.5 million of costs related to the common stock issuance under the stock purchase contracts and were recorded as a reduction of additional paid-in capital.", + "Earnings Per Common Share The stock purchase contracts are reflected in diluted earnings per common share using the treasury stock method.", + "The stock purchase contracts were included in diluted earnings per common share for the years ended December 31, 2008, 2007 and 2006 as shown in Note 20.", + "Remarketing of Junior Subordinated Debentures and Settlement of Stock Purchase Contracts On August 15, 2008, the Holding Company closed the successful remarketing of the Series A portion of the junior subordinated debentures underlying the common equity units.", + "The Series A junior subordinated debentures were modified as permitted by their terms to be 6.817% senior debt securities Series A, due August 15, 2018.", + "The Holding Company did not receive any proceeds from the remarketing.", + "Most common equity unit holders chose to have their junior subordinated debentures remarketed and used the remarketing proceeds to settle their payment obligations under the applicable stock purchase contract.", + "For those common equity unit holders that elected not to participate in the remarketing and elected to use their own cash to satisfy the payment obligations under the stock purchase contract, the terms of the debt are the same as the remarketed debt.", + "The initial settlement of the stock purchase contracts occurred on August 15, 2008, providing proceeds to the Holding Company of $1,035 million in exchange for shares of the Holding Company\u2019s common stock.", + "The Holding Company delivered 20,244,549 shares of its common stock held in treasury at a value of $1,064 million to settle the stock purchase contracts.", + "On February 17, 2009, the Holding Company closed the successful remarketing of the Series B portion of the junior subordinated debentures underlying the common equity units.", + "The Series B junior subordinated debentures were modified as permitted by their terms to be 7.717% senior debt securities Series B, due February 15, 2019.", + "The Holding Company did not receive any proceeds from the remarketing.", + "Most common equity unit holders chose to have their junior subordinated debentures remarketed and used the remarketing proceeds to settle their payment obligations under the applicable stock purchase contract.", + "For those common equity unit holders that elected not to participate in the remarketing and elected to use their own cash to satisfy the payment obligations under the stock purchase contract, the terms of the debt are the same as the remarketed debt.", + "The subsequent settlement of the stock purchase contracts occurred on February 17, 2009, providing proceeds to the Holding Company of $1,035 million in exchange for shares of the Holding Company\u2019s common stock.", + "The Holding Company delivered 24,343,154 shares of its newly issued common stock at a value of $1,035 million to settle the stock purchase contracts.", + "See also Notes 10, 12, 18 and 25.14.", + "Shares Subject to Mandatory Redemption and Company-Obligated Mandatorily Redeemable Securities of Subsid\u0002iary Trusts GenAmerica Capital I.", + "In June 1997, GenAmerica Corporation (\u201cGenAmerica\u201d) issued $125 million of 8.525% capital securities through a wholly-owned subsidiary trust, GenAmerica Capital I.", + "In October 2007, GenAmerica redeemed these securities which were due to mature on June 30, 2027.", + "As a result of this redemption, the Company recognized additional interest expense of $10 million.", + "Interest expense on these instruments is included in other expenses and was $20 million and $11 million for the years ended December 31, 2007 and 2006, respectively.15.", + "Income Tax The provision for income tax from continuing operations is as follows:", + "|| Years Ended December 31,|\n||2008|2007| 2006|\n|| (In millions)|\n|Current:||||\n|Federal|$216|$424|$615|\n|State and local|10|15|39|\n|Foreign|372|200|144|\n|Subtotal|598|639|798|\n|Deferred:||||\n|Federal|1,078|1,015|164|\n|State and local|-6|31|2|\n|Foreign|-90|-25|52|\n|Subtotal|982|1,021|218|\n|Provision for income tax|$1,580|$1,660|$1,016|\n", + "the same default methodology to all Alt-A bonds, regardless of the underlying collateral.", + "The Company\u2019s Alt-A portfolio has superior structure to the overall Alt-A market.", + "The Company\u2019s Alt-A portfolio is 88% fixed rate collateral, has zero exposure to option ARM mortgages and has only 12% hybrid ARMs.", + "Fixed rate mortgages have performed better than both option ARMs and hybrid ARMs.", + "Additionally, 83% of the Company\u2019s Alt-A portfolio has super senior credit enhancement, which typically provides double the credit enhancement of a standard AAA rated bond.", + "Based upon the analysis of the Company\u2019s exposure to Alt-A mortgage loans through its investment in asset-backed securities, the Company continues to expect to receive payments in accordance with the contractual terms of the securities.", + "Asset-Backed Securities.", + "The Company\u2019s asset-backed securities are diversified both by sector and by issuer.", + "At December 31, 2008, the largest exposures in the Company\u2019s asset-backed securities portfolio were credit card receivables, automobile receivables, student loan receivables and residential mortgage-backed securities backed by sub-prime mortgage loans of 49%, 10%, 10% and 10% of the total holdings, respectively.", + "At December 31, 2008 and 2007, the Company\u2019s holdings in asset-backed securities was $10.5 billion and $10.6 billion at estimated fair value.", + "At December 31, 2008 and 2007, $7.9 billion and $5.7 billion, respectively, or 75% and 54%, respectively, of total asset-backed securities were rated Aaa/AAA by Moody\u2019s, S&P or Fitch.", + "The Company\u2019s asset-backed securities included in the structured securities table above include exposure to residential mortgage\u0002backed securities backed by sub-prime mortgage loans.", + "Sub-prime mortgage lending is the origination of residential mortgage loans to customers with weak credit profiles.", + "The Company\u2019s exposure exists through investment in asset-backed securities which are supported by sub-prime mortgage loans.", + "The slowing U. S. housing market, greater use of affordable mortgage products, and relaxed underwriting standards for some originators of below-prime loans have recently led to higher delinquency and loss rates, especially within the 2006 and 2007 vintage year.", + "Vintage year refers to the year of origination and not to the year of purchase.", + "These factors have caused a pull-back in market liquidity and repricing of risk, which has led to an increase in unrealized losses from December 31, 2007 to December 31, 2008.", + "Based upon the analysis of the Company\u2019s exposure to sub-prime mortgage loans through its investment in asset-backed securities, the Company expects to receive payments in accordance with the contractual terms of the securities.", + "The following table shows the Company\u2019s exposure to asset-backed securities supported by sub-prime mortgage loans by credit quality and by vintage year:", + "|| December 31, 2008|\n|| Aaa| Aa| A| Baa| Below Investment Grade| Total|\n|| Cost or || Cost or || Cost or || Cost or || Cost or || Cost or ||\n|| Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair |\n|| Cost| Value| Cost| Value| Cost| Value| Cost| Value| Cost| Value| Cost| Value|\n|| (In millions)|\n|2003 & Prior|$96|$77|$92|$72|$26|$16|$83|$53|$8|$4|$305|$222|\n|2004|129|70|372|204|5|3|37|28|2|1|545|306|\n|2005|357|227|186|114|20|11|79|46|4|4|646|402|\n|2006|146|106|69|30|15|10|26|7|2|2|258|155|\n|2007|\u2014|\u2014|78|33|35|21|2|2|3|1|118|57|\n|2008|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total|$728|$480|$797|$453|$101|$61|$227|$136|$19|$12|$1,872|$1,142|\n", + "December 31, 2007", + "|| December 31, 2007|\n|| Aaa| Aa| A| Baa| Below Investment Grade| Total|\n|| Cost or || Cost or || Cost or || Cost or || Cost or || Cost or ||\n|| Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair | Amortized | Fair |\n|| Cost| Value| Cost| Value| Cost| Value| Cost| Value| Cost| Value| Cost| Value|\n|| (In millions)|\n|2003 & Prior|$217|$206|$130|$123|$15|$14|$13|$12|$4|$2|$379|$357|\n|2004|186|169|412|383|11|9|\u2014|\u2014|1|\u2014|610|561|\n|2005|509|462|218|197|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|727|659|\n|2006|244|223|64|43|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|308|266|\n|2007|132|123|17|9|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|149|132|\n|Total|$1,288|$1,183|$841|$755|$26|$23|$13|$12|$5|$2|$2,173|$1,975|\n", + "At December 31, 2008 and 2007, the Company had asset-backed securities supported by sub-prime mortgage loans with estimated fair values of $1.1 billion and $2.0 billion, respectively, and unrealized losses of $730 million and $198 million, respectively, as outlined in the tables above.", + "At December 31, 2008, approximately 82% of the portfolio is rated Aa or better of which 82% was in vintage year 2005 and prior.", + "At December 31, 2007, approximately 98% of the portfolio was rated Aa or better of which 79% was in vintage year 2005 and prior.", + "These older vintages benefit from better underwriting, improved enhancement levels and higher residential property price appre\u0002ciation.", + "At December 31, 2008, 37% of the asset-backed securities backed by sub-prime mortgage loans have been guaranteed by financial guarantee insurers, of which 19% and 37% were guaranteed by financial guarantee insurers who were Aa and Baa rated, respectively.", + "At December 31, 2008, all of the $1.1 billion of asset-backed securities supported by sub-prime mortgage loans were classified as Level 3 securities.", + "have access to liquidity by issuing bonds to public or private investors based on our assessment of the current condition of the credit markets.", + "At December 31, 2009, we had a working capital surplus of approximately $1.0 billion, which reflects our decision to maintain additional cash reserves to enhance liquidity in response to difficult economic conditions.", + "At December 31, 2008, we had a working capital deficit of approximately $100 million.", + "Historically, we have had a working capital deficit, which is common in our industry and does not indicate a lack of liquidity.", + "We maintain adequate resources and, when necessary, have access to capital to meet any daily and short-term cash requirements, and we have sufficient financial capacity to satisfy our current liabilities.", + "|Millions of Dollars|2009|2008|2007|\n|Cash provided by operating activities|$3,234|$4,070|$3,277|\n|Cash used in investing activities|-2,175|-2,764|-2,426|\n|Cash used in financing activities|-458|-935|-800|\n|Net change in cash and cash equivalents|$601|$371|$51|\n", + "Operating Activities Lower net income in 2009, a reduction of $184 million in the outstanding balance of our accounts receivable securitization program, higher pension contributions of $72 million, and changes to working capital combined to decrease cash provided by operating activities compared to 2008.", + "Higher net income and changes in working capital combined to increase cash provided by operating activities in 2008 compared to 2007.", + "In addition, accelerated tax deductions enacted in 2008 on certain new operating assets resulted in lower income tax payments in 2008 versus 2007.", + "Voluntary pension contributions in 2008 totaling $200 million and other pension contributions of $8 million partially offset the year-over-year increase versus 2007.", + "Investing Activities Lower capital investments and higher proceeds from asset sales drove the decrease in cash used in investing activities in 2009 versus 2008.", + "Increased capital investments and lower proceeds from asset sales drove the increase in cash used in investing activities in 2008 compared to 2007." + ], + "question_id": "simplong-test-267", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Secured debt be like in 2007 Ended December 31 if it develops with the same increasing rate as in 2006 Ended December 31? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Undistributed earnings of $696.9 million from certain foreign subsidiaries are considered to be permanently reinvested abroad and will not be repatriated to the United States in the foreseeable future.", + "Because those earnings are considered to be indefinitely reinvested, no domestic federal or state deferred income taxes have been provided thereon.", + "If we were to make a distribution of any portion of those earnings in the form of dividends or otherwise, we would be subject to both U. S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to the various foreign jurisdictions.", + "Because of the availability of U. S. foreign tax credit carryforwards, it is not practicable to determine the domestic federal income tax liability that would be payable if such earnings were no longer considered to be reinvested indefinitely.", + "A valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.", + "Changes to our valuation allowance during the years ended May 31, 2015 and 2014 are summarized below (in thousands):", + "|Balance at May 31, 2013|$-28,464|\n|Utilization of foreign net operating loss carryforwards|2,822|\n|Allowance for foreign tax credit carryforward|18,061|\n|Other|382|\n|Balance at May 31, 2014|-7,199|\n|Utilization of foreign net operating loss carryforwards|3,387|\n|Other|-11|\n|Balance at May 31, 2015|$-3,823|\n", + "Net operating loss carryforwards of foreign subsidiaries totaling $12.4 million and U. S. net operating loss carryforwards previously acquired totaling $19.8 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2033 if not utilized.", + "Capital loss carryforwards of U. S. subsidiaries totaling $4.7 million will expire if not utilized by May 31, 2017.", + "Tax credit carryforwards totaling $8.4 million at May 31, 2015 will expire between May 31, 2017 and May 31, 2023 if not utilized.", + "We conduct business globally and file income tax returns in the U. S. federal jurisdiction and various state and foreign jurisdictions.", + "In the normal course of business, we are subject to examination by taxing authorities around the world.", + "As a result of events that occurred in the fourth quarter of the year ended May 31, 2015, management concluded that it was more likely than not that the tax positions in a foreign jurisdiction, for which we had recorded estimated liabilities of $65.6 million in other noncurrent liabilities on our consolidated balance sheet, would be sustained on their technical merits based on information available as of May 31, 2015.", + "Therefore, the liability and corresponding deferred tax assets were eliminated as of May 31, 2015.", + "The uncertain tax positions have been subject to an ongoing examination in that foreign jurisdiction by the tax authority.", + "Discussions and correspondence between the tax authority and us during the fourth quarter indicated that the likelihood of the positions being sustained had increased.", + "Subsequent to May 31, 2015, we received a final closure notice regarding the examination resulting in no adjustments to taxable income related to this matter for the tax returns filed for the periods ended May 31, 2010 through May 31, 2013.", + "The unrecognized tax benefits were effectively settled with this final closure notice.", + "We are no longer subjected to state income tax examinations for years ended on or before May 31, 2008, U. S. federal income tax examinations for fiscal years prior to 2012 and United Kingdom federal income tax examinations for years ended on or before May 31, 2013.", + "Item 6.", + "SELECTED FINANCIAL DATA The following table sets forth selected consolidated financial and other information as of and for each of the years in the five-year period ended December 31, 2007.", + "The table should be read in conjunction with our consolidated financial statements and the notes thereto, and Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations, included elsewhere in this Report.", + "||Years Ended December 31, (In thousands, except per share data and apartment homes owned)|\n||2007|2006|2005|2004|2003|\n| Operating Data(a)||||||\n|Rental income|$497,474|$463,719|$407,038|$306,691|$244,758|\n|Loss before minority interests and discontinued operations|-100,596|-91,870|-63,499|-58,003|-59,187|\n|Income from discontinued operations, net of minority interests|208,130|214,102|214,126|150,073|123,453|\n|Net income|221,349|128,605|155,166|97,152|70,404|\n|Distributions to preferred stockholders|13,911|15,370|15,370|19,531|26,326|\n|Net income available to common stockholders|205,177|113,235|139,796|71,892|24,807|\n|Common distributions declared|177,540|168,408|163,690|152,203|134,876|\n|Weighted average number of common shares outstanding \u2014 basic|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares outstanding \u2014 diluted|134,016|133,732|136,143|128,097|114,672|\n|Weighted average number of common shares, OP Units, and common stock equivalents outstanding \u2014 diluted|146,936|147,981|150,141|145,842|136,975|\n|Per share \u2014 basic and diluted:||||||\n|Loss from continuing operations available to common stockholders, net of minority interests|$-0.02|$-0.75|$-0.54|$-0.61|$-0.86|\n|Income from discontinued operations, net of minority interests|1.55|1.60|1.57|1.17|1.08|\n|Net income available to common stockholders|1.53|0.85|1.03|0.56|0.22|\n|Common distributions declared|1.32|1.25|1.20|1.17|1.14|\n| Balance Sheet Data||||||\n|Real estate owned, at cost|$5,952,541|$5,820,122|$5,512,424|$5,243,296|$4,351,551|\n|Accumulated depreciation|1,371,759|1,253,727|1,123,829|1,007,887|896,630|\n|Total real estate owned, net of accumulated depreciation|4,580,782|4,566,395|4,388,595|4,235,409|3,454,921|\n|Total assets|4,801,121|4,675,875|4,541,593|4,332,001|3,543,643|\n|Secured debt|1,137,936|1,182,919|1,116,259|1,197,924|1,018,028|\n|Unsecured debt|2,364,740|2,155,866|2,043,518|1,682,058|1,114,009|\n|Total debt|3,502,676|3,338,785|3,159,777|2,879,982|2,132,037|\n|Stockholders\u2019 equity|1,019,393|1,055,255|1,107,724|1,195,451|1,163,436|\n|Number of common shares outstanding|133,318|135,029|134,012|136,430|127,295|\n| Other Data||||||\n| Cash Flow Data||||||\n|Cash provided by operating activities|$250,578|$229,613|$248,186|$251,747|$234,945|\n|Cash used in investing activities|-71,397|-149,973|-219,017|-595,966|-304,217|\n|Cash (used in)/provided by financing activities|-178,105|-93,040|-21,530|347,299|70,944|\n| Funds from Operations(b)||||||\n|Funds from operations \u2014 basic|$247,210|$244,471|$238,254|$211,670|$193,750|\n|Funds from operations \u2014 diluted|250,936|248,197|241,980|219,557|208,431|\n| Apartment Homes Owned||||||\n|Total apartment homes owned at December 31|65,867|70,339|74,875|78,855|76,244|\n|Weighted average number of apartment homes owned during the year|69,662|73,731|76,069|76,873|74,550|\n", + "(a) Reclassified to conform to current year presentation in accordance with FASB Statement No.144, \u201cAccounting for the Impairment or Disposal of Long-Lived Assets,\u201d as described in Note 3 to the consolidated financial statements.", + "(b) Funds from operations, or FFO, is defined as net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of depreciable property, premiums or original issuance costs associated with preferred stock redemptions, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.", + "This defini\u0002tion conforms with the National Association of Real Estate Investment Trust\u2019s definition issued in April 2002.", + "We consider FFO in evaluating property acquisitions and our operating performance and believe that FFO should be considered along with, but not as an alternative to, net income and cash flows as a measure of our activities in accordance with generally accepted accounting principles.", + "FFO does not represent cash generated from operating activities in accordance with generally accepted accounting principles and is not necessarily indicative of cash available to fund cash needs.", + "RE3 is our subsidiary that focuses on development, land entitlement and short-term hold investments.", + "RE3 tax benefits and gain on sales, net of taxes, is defined as net sales proceeds less a tax provision and the gross investment basis of the asset before accumulated depreciation.", + "We consider FFO with RE3 tax benefits and gain on sales, net of taxes, to be a meaningful supplemental measure of per\u0002formance because the short-term use of funds produce a profit that differs from the traditional long-term investment in real estate for REITs.", + "For 2005, FFO includes $2.5 million of hurricane related insurance recoveries.", + "For 2004, FFO includes a charge of $5.5 million to cover hurricane related expenses.", + "For the years ended December 31, 2007, 2004 and 2003, distributions to preferred stockholders exclude $2.6 million, $5.7 million and $19.3 million, respectively, related to premiums on preferred stock repurchases.", + "$1,138 per home, and major renovations totaled $71.8 million or $1,045 per home for the year ended December 31, 2007.", + "The following table outlines capital expenditures and repair and maintenance costs for all of our communities, excluding real estate under development, condominium conversions and commercial properties, for the periods presented:", + "||Year Ended December 31, (dollars in thousands)|Year Ended December 31, (per home)|\n|| 2007| 2006|% Change| 2007| 2006|% Change|\n|Turnover capital expenditures|$13,362|$14,214|-6.0%|$194|$197|-1.5%|\n|Asset preservation expenditures|31,071|20,409|52.2%|452|283|59.7%|\n|Total recurring capital expenditures|44,433|34,623|28.3%|646|480|34.6%|\n|Revenue enhancing improvements|78,209|144,102|-45.7%|1,138|2,002|-43.2%|\n|Major renovations|71,785|36,996|94.0%|1,045|514|103.3%|\n|Total capital expenditures|$194,427|$215,721|-9.9%|$2,829|$2,996|-5.6%|\n|Repair and maintenance expense|$42,518|$43,498|-2.3%|$619|$604|2.5%|\n", + "Total capital expenditures for our communities decreased $21.3 million or $167 per home for the year ended December 31, 2007 compared to the same period in 2006.", + "This decrease was attributable to a $65.9 million decrease in revenue enhancing improvements at certain of our properties that was offset by an additional $9.8 million being invested in recurring capital expenditures and an additional $34.8 million being invested in major renovations as compared to the same period in 2006.", + "We will continue to selectively add revenue enhancing improvements which we believe will provide a return on investment substantially in excess of our cost of capital.", + "Recurring capital expenditures during 2008 are currently expected to be approximately $650 per home.", + "Impairment of Long-Lived Assets We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by the future operation and disposition of those assets are less than the net book value of those assets.", + "Our cash flow estimates are based upon historical results adjusted to reflect our best estimate of future market and operating conditions and our estimated holding periods.", + "The net book value of impaired assets is reduced to fair market value.", + "Our estimates of fair market value represent our best estimate based upon industry trends and reference to market rates and transactions.", + "Real Estate Investment Properties We purchase real estate investment properties from time to time and allocate the purchase price to various components, such as land, buildings, and intangibles related to in-place leases in accordance with FASB Statement No.141, \u201cBusiness Combinations.", + "\u201d The purchase price is allocated based on the relative fair value of each component.", + "The fair value of buildings is determined as if the buildings were vacant upon acquisition and subsequently leased at market rental rates.", + "As such, the determination of fair value considers the present value of all cash flows expected to be generated from the property including an initial lease-up period.", + "We determine the fair value of in-place leases by assessing the net effective rent and remaining term of the lease relative to market terms for similar leases at acquisition.", + "In addition, we consider the cost of acquiring similar leases, the foregone rents associated with the lease-up period, and the carrying costs associated with the lease-up period.", + "The fair value of in-place leases is recorded and amortized as amortization expense over the remaining contractual lease period." + ], + "question_id": "simplong-test-268", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "commercial mortgage loans held for sale designated at fair value at december 31 , 2012 were what percent of total loans held for sale?,", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Financial derivatives involve, to varying degrees, interest rate, market and credit risk.", + "For interest rate swaps and total return swaps, options and futures contracts, only periodic cash payments and, with respect to options, premiums are exchanged.", + "Therefore, cash requirements and exposure to credit risk are significantly less than the notional amount on these instruments.", + "Further information on our financial derivatives is presented in Note 1 Accounting Policies and Note 17 Financial Derivatives in the Notes To Consolidated Financial Statements in Item 8 of this Report, which is incorporated here by reference.", + "Not all elements of interest rate, market and credit risk are addressed through the use of financial or other derivatives, and such instruments may be ineffective for their intended purposes due to unanticipated market changes, among other reasons.", + "The following table summarizes the notional or contractual amounts and net fair value of financial derivatives at December 31, 2012 and December 31, 2011.", + "Table 54: Financial Derivatives Summary", + "||December 31, 2012|December 31, 2011|\n|In millions|Notional/ ContractualAmount|Net Fair Value (a)|Notional/ Contractual Amount|Net Fair Value (a)|\n| Derivatives designated as hedging instruments under GAAP|||||\n|Total derivatives designated as hedging instruments|$29,270|$1,720|$29,234|$1,772|\n| Derivatives not designated as hedging instruments under GAAP|||||\n|Total derivatives used for residential mortgage banking activities|$166,819|$588|$196,991|$565|\n|Total derivatives used for commercial mortgage banking activities|4,606|-23|2,720|-21|\n|Total derivatives used for customer-related activities|163,848|30|158,095|-132|\n|Total derivatives used for other risk management activities|1,813|-357|4,289|-327|\n|Total derivatives not designated as hedging instruments|$337,086|$238|$362,095|$85|\n|Total Derivatives|$366,356|$1,958|$391,329|$1,857|\n", + "(a) Represents the net fair value of assets and liabilities.2011 VERSUS 2010 CONSOLIDATED INCOME STATEMENT REVIEW Summary Results Net income for 2011 was $3.1 billion, or $5.64 per diluted common share, compared with $3.4 billion, or $5.74 per diluted common share, for 2010.", + "The decrease from 2010 was primarily due to an $850 million, or 6%, reduction in total revenue, a $492 million, or 6%, increase in noninterest expense and the impact of the $328 million after-tax gain on the sale of GIS recognized in 2010, partially offset by a $1.3 billion, or 54%, decrease in the provision for credit losses in 2011.", + "In addition, 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.", + "Net Interest Income Net interest income was $8.7 billion for 2011 down from $9.2 billion in 2010.", + "The net interest margin decreased to 3.92% in 2011 compared with 4.14% for 2010, primarily due to the impact of lower purchase accounting accretion, a decline in the rate on average loan balances and the low interest rate environment partially offset by lower funding costs.", + "Noninterest Income Noninterest income was $5.6 billion for 2011 and $5.9 billion for 2010.", + "Noninterest income for 2011 reflected higher asset management fees and other income, higher residential mortgage banking revenue, and lower net other-than\u0002temporary impairments (OTTI), that were offset by a decrease in corporate service fees primarily due to a reduction in the value of commercial mortgage servicing rights, lower service charges on deposits from the impact of Regulation E rules pertaining to overdraft fees, a decrease in net gains on sales of securities and lower consumer services fees due, in part, to a decline in interchange fees on individual debit card transactions in the fourth quarter partially offset by higher transaction volumes throughout 2011.", + "Asset management revenue, including BlackRock, increased $34 million to $1.1 billion in 2011 compared to 2010.", + "The increase was driven by strong sales performance by our Asset Management Group and somewhat higher equity earnings from our BlackRock investment.", + "Discretionary assets under management at December 31, 2011 totaled $107 billion compared with $108 billion at December 31, 2010.", + "||At or for the year ended December 31|\n|Dollars in millions, except as noted|2012 (a) (b)|2011 (b)|2010 (b)|2009 (b)|2008 (c)|\n| BALANCESHEETHIGHLIGHTS||||||\n|Assets|$305,107|$271,205|$264,284|$269,863|$291,081|\n|Loans|185,856|159,014|150,595|157,543|175,489|\n|Allowance for loan and lease losses|4,036|4,347|4,887|5,072|3,917|\n|Interest-earning deposits with banks|3,984|1,169|1,610|4,488|14,859|\n|Investment securities|61,406|60,634|64,262|56,027|43,473|\n|Loans held for sale|3,693|2,936|3,492|2,539|4,366|\n|Goodwill and other intangible assets|10,869|10,144|10,753|12,909|11,688|\n|Equity investments|10,877|10,134|9,220|10,254|8,554|\n|Noninterest-bearing deposits|69,980|59,048|50,019|44,384|37,148|\n|Interest-bearing deposits|143,162|128,918|133,371|142,538|155,717|\n|Total deposits|213,142|187,966|183,390|186,922|192,865|\n|Transaction deposits (d)|176,705|147,637|134,654|126,244|110,997|\n|Borrowed funds (e)|40,907|36,704|39,488|39,261|52,240|\n|Total shareholders\u2019 equity|39,003|34,053|30,242|29,942|25,422|\n|Common shareholders\u2019 equity|35,413|32,417|29,596|22,011|17,490|\n| CLIENTASSETS(billions)||||||\n|Discretionary assets under management|$112|$107|$108|$103|$103|\n|Nondiscretionary assets under management|112|103|104|102|125|\n|Total assets under administration|224|210|212|205|228|\n|Brokerage account assets (f)|38|34|34|32|29|\n|Total client assets|$262|$244|$246|$237|$257|\n| SELECTEDRATIOS||||||\n|Net interest margin (g)|3.94%|3.92%|4.14%|3.82%|3.37%|\n|Noninterest income to total revenue|38|39|39|44|39|\n|Efficiency|68|64|57|56|59|\n|Return on||||||\n|Average common shareholders\u2019 equity|8.31|9.56|10.88|9.78|6.52|\n|Average assets|1.02|1.16|1.28|.87|.64|\n|Loans to deposits|87|85|82|84|91|\n|Dividend payout|29.0|20.2|6.8|21.4|104.6|\n|Tier 1 common|9.6|10.3|9.8|6.0|4.8|\n|Tier 1 risk-based|11.6|12.6|12.1|11.4|9.7|\n|Common shareholders\u2019 equity to total assets|11.6|12.0|11.2|8.2|6.0|\n|Average common shareholders\u2019 equity to average assets|11.5|11.9|10.4|7.2|9.6|\n| SELECTEDSTATISTICS||||||\n|Employees|56,285|51,891|50,769|55,820|59,595|\n|Retail Banking branches|2,881|2,511|2,470|2,513|2,581|\n|ATMs|7,282|6,806|6,673|6,473|6,233|\n|Residential mortgage servicing portfolio (billions)|$135|$131|$139|$158|$187|\n|Commercial mortgage servicing portfolio (billions)|$282|$267|$266|$287|$270|\n", + "(a) Includes the impact of RBC Bank (USA), which we acquired on March 2, 2012.", + "(b) Includes the impact of National City, which we acquired on December 31, 2008.", + "(c) Includes the impact of National City except for the following Selected Ratios: Net interest margin, Noninterest income to total revenue, Efficiency, Return on Average common shareholders\u2019 equity, Return on Average assets, Dividend payout and Average common shareholders\u2019 equity to average assets.", + "(d) Represents the sum of interest-bearing money market deposits, interest-bearing demand deposits, and noninterest-bearing deposits.", + "(e) Includes long-term borrowings of $19.3 billion, $20.9 billion, $24.8 billion, $26.3 billion and $33.6 billion for 2012, 2011, 2010, 2009 and 2008, respectively.", + "Borrowings which mature more than one year after December 31, 2012 are considered to be long-term.", + "(f) Amounts for 2012, 2011 and 2010 include cash and money market balances.", + "(g) Calculated as taxable-equivalent net interest income divided by average earning assets.", + "The interest income earned on certain earning assets is completely or partially exempt from federal income tax.", + "As such, these tax-exempt instruments typically yield lower returns than taxable investments.", + "To provide more meaningful comparisons of net interest margins for all earning assets, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under accounting principles generally accepted in the United States of America (GAAP) on the Consolidated Income Statement.", + "The taxable-equivalent adjustments to net interest income for the years 2012, 2011, 2010, 2009 and 2008 were $144 million, $104 million, $81 million, $65 million and $36 million, respectively.", + "RESIDENTIAL MORTGAGE-BACKED SECURITIES At December 31, 2012, our residential mortgage-backed securities portfolio was comprised of $31.4 billion fair value of US government agency-backed securities and $6.1 billion fair value of non-agency (private issuer) securities.", + "The agency securities are generally collateralized by 1-4 family, conforming, fixed-rate residential mortgages.", + "The non-agency securities are also generally collateralized by 1-4 family residential mortgages.", + "The mortgage loans underlying the non-agency securities are generally non-conforming (i. e. , original balances in excess of the amount qualifying for agency securities) and predominately have interest rates that are fixed for a period of time, after which the rate adjusts to a floating rate based upon a contractual spread that is indexed to a market rate (i. e. , a \u201chybrid ARM\u201d), or interest rates that are fixed for the term of the loan.", + "Substantially all of the non-agency securities are senior tranches in the securitization structure and at origination had credit protection in the form of credit enhancement, over\u0002collateralization and/or excess spread accounts.", + "During 2012, we recorded OTTI credit losses of $99 million on non-agency residential mortgage-backed securities.", + "All of the losses were associated with securities rated below investment grade.", + "As of December 31, 2012, the noncredit portion of impairment recorded in Accumulated other comprehensive income for non-agency residential mortgage\u0002backed securities for which we have recorded an OTTI credit loss totaled $150 million and the related securities had a fair value of $3.7 billion.", + "The fair value of sub-investment grade investment securities for which we have not recorded an OTTI credit loss as of December 31, 2012 totaled $1.9 billion, with unrealized net gains of $114 million.", + "COMMERCIAL MORTGAGE-BACKED SECURITIES The fair value of the non-agency commercial mortgage\u0002backed securities portfolio was $5.9 billion at December 31, 2012 and consisted of fixed-rate, private-issuer securities collateralized by non-residential properties, primarily retail properties, office buildings, and multi-family housing.", + "The agency commercial mortgage-backed securities portfolio was $2.0 billion fair value at December 31, 2012 consisting of multi-family housing.", + "Substantially all of the securities are the most senior tranches in the subordination structure.", + "There were no OTTI credit losses on commercial mortgage\u0002backed securities during 2012.", + "ASSET-BACKED SECURITIES The fair value of the asset-backed securities portfolio was $6.5 billion at December 31, 2012 and consisted of fixed-rate and floating-rate, private-issuer securities collateralized primarily by various consumer credit products, including residential mortgage loans, credit cards, automobile loans, and student loans.", + "Substantially all of the securities are senior tranches in the securitization structure and have credit protection in the form of credit enhancement, over-collateralization and/or excess spread accounts.", + "We recorded OTTI credit losses of $11 million on asset\u0002backed securities during 2012.", + "All of the securities are collateralized by first lien and second lien residential mortgage loans and are rated below investment grade.", + "As of December 31, 2012, the noncredit portion of impairment recorded in Accumulated other comprehensive income for asset-backed securities for which we have recorded an OTTI credit loss totaled $52 million and the related securities had a fair value of $603 million.", + "For the sub-investment grade investment securities (available for sale and held to maturity) for which we have not recorded an OTTI loss through December 31, 2012, the fair value was $47 million, with unrealized net losses of $3 million.", + "The results of our security-level assessments indicate that we will recover the cost basis of these securities.", + "Note 8 Investment Securities in the Notes To Consolidated Financial Statements in Item 8 of this Report provides additional information on OTTI losses and further detail regarding our process for assessing OTTI.", + "If current housing and economic conditions were to worsen, and if market volatility and illiquidity were to worsen, or if market interest rates were to increase appreciably, the valuation of our investment securities portfolio could be adversely affected and we could incur additional OTTI credit losses that would impact our Consolidated Income Statement.", + "LOANS HELD FOR SALE Table 15: Loans Held For Sale", + "|In millions|December 312012|December 312011|\n|Commercial mortgages at fair value|$772|$843|\n|Commercial mortgages at lower of cost or market|620|451|\n|Total commercial mortgages|1,392|1,294|\n|Residential mortgages at fair value|2,096|1,415|\n|Residential mortgages at lower of cost or market|124|107|\n|Total residential mortgages|2,220|1,522|\n|Other|81|120|\n|Total|$3,693|$2,936|\n", + "We stopped originating commercial mortgage loans held for sale designated at fair value in 2008 and continue pursuing opportunities to reduce these positions at appropriate prices.", + "At December 31, 2012, the balance relating to these loans was $772 million, compared to $843 million at December 31, 2011.", + "We sold $32 million in unpaid principal balances of these commercial mortgage loans held for sale carried at fair value in 2012 and sold $25 million in 2011." + ], + "question_id": "simplong-test-269", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Unrecognized net loss CHANGE IN PLAN ASSETS of CECONY 2015, Operating earnings of 2008, and FUNDED STATUS CHANGE IN PLAN ASSETS of Con Edison 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "(a) Relates to an increase in CECONY\u2019s pension obligation of $45 million from a 1999 special retirement program.", + "Funded Status The funded status at December 31, 2015, 2014 and 2013 was as follows:", + "||Con Edison|CECONY|\n|(Millions of Dollars)|2015|2014|2013|2015|2014|2013|\n|CHANGE IN PROJECTED BENEFIT OBLIGATION|||||||\n|Projected benefit obligation at beginning of year|$15,081|$12,197|$13,406|$14,137|$11,429|$12,572|\n|Service cost \u2013 excluding administrative expenses|293|221|259|274|206|241|\n|Interest cost on projected benefit obligation|575|572|537|538|536|503|\n|Net actuarial (gain)/loss|-996|2,641|-1,469|-931|2,484|-1,388|\n|Plan amendments|\u2014|6|\u2014|\u2014|\u2014|\u2014|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|PROJECTED BENEFIT OBLIGATION AT END OF YEAR|$14,377|$15,081|$12,197|$13,482|$14,137|$11,429|\n|CHANGE IN PLAN ASSETS|||||||\n|Fair value of plan assets at beginning of year|$11,495|$10,755|$9,135|$10,897|$10,197|$8,668|\n|Actual return on plan assets|126|752|1,310|118|715|1,241|\n|Employer contributions|750|578|879|697|535|819|\n|Benefits paid|-576|-556|-536|-536|-518|-499|\n|Administrative expenses|-36|-34|-33|-35|-32|-32|\n|FAIR VALUE OF PLAN ASSETS AT END OF YEAR|$11,759|$11,495|$10,755|$11,141|$10,897|$10,197|\n|FUNDED STATUS|$-2,618|$-3,586|$-1,442|$-2,341|$-3,240|$-1,232|\n|Unrecognized net loss|$3,909|$4,888|$2,759|$3,704|$4,616|$2,617|\n|Unrecognized prior service costs|16|20|17|3|4|6|\n|Accumulated benefit obligation|12,909|13,454|11,004|12,055|12,553|10,268|\n", + "The decrease in the pension plan\u2019s projected benefit obligation (due primarily to increased discount rates) was the primary cause of the decreased pension liability at Con Edison and CECONY of $968 million and $899 million, respectively, compared with December 31, 2014.", + "For Con Edison, this decrease in pension liability corresponds with a decrease to regulatory assets of $967 million for unrecognized net losses and unrecognized prior service costs associated with the Utilities consistent with the accounting rules for regulated operations, a credit to OCI of $10 million (net of taxes) for the unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses and O&R\u2019s New Jersey and Pennsylvania utility subsidiaries.", + "For CECONY, the decrease in pension liability corresponds with a decrease to regulatory assets of $911 million for unrecognized net losses and unrecognized prior service costs consistent with the accounting rules for regulated operations, a credit to OCI of $1 million (net of taxes) for unrecognized net losses, and an immaterial change to OCI (net of taxes) for the unrecognized prior service costs associated with the competitive energy businesses.", + "A portion of the unrecognized net loss and prior service cost for the pension plan, equal to $603 million and $4 million, respectively, will be recognized from accumulated OCI and the regulatory asset into net periodic benefit cost over the next year for Con Edison.", + "Included in these amounts are $570 million and $2 million, respectively, for CECONY.", + "At December 31, 2015 and 2014, Con Edison\u2019s investments include $243 million and $225 million, respectively, held in external trust accounts for benefit payments pursuant to the supplemental retirement plans.", + "Included in these amounts for CECONY were $221 million and $208 million, respectively.", + "See Note P. The accumulated benefit obligations for the supplemental retirement plans for Con Edison and CECONY were $285 million and $249 million as of December 31, 2015 and $289 million and $250 million as of December 31, 2014, respectively", + "Contract options in our defense businesses represent agreements to perform additional work beyond the products and services associated with firm contracts, if the customer exercises the option.", + "These options are negotiated in conjunction with a firm contract and provide the terms under which the customer may elect to procure additional units or serv\u0002ices at a future date.", + "Contract options in the Aerospace group represent options to purchase new aircraft and long-term agreements with fleet customers.", + "We recognize options in backlog when the customer exercises the option and establishes a firm order.", + "On December 31, 2009, the estimated potential value associated with these IDIQ contracts and contract options was approximately $17.6 billion, up from $16.8 billion at the end of 2008.", + "This represents our estimate of the potential value we will receive.", + "The actual amount of funding received in the future may be higher or lower.", + "We expect to realize this value over the next 10 to 15 years.", + "REVIEW OF OPERATING SEGMENTS AEROSPACE Review of 2009 vs. 2008", + "| Year Ended December 31|2009|2008|Variance|\n|Revenues|$5,171|$5,512|$-341|-6.2%|\n|Operating earnings|707|1,021|-314|-30.8%|\n|Operating margin|13.7%|18.5%|||\n|Gulfstream aircraft deliveries (in units):|||||\n|Green|94|156|-62|-39.7%|\n|Completion|110|152|-42|-27.6%|\n", + "The Aerospace group\u2019s revenues decreased in 2009, the net result of a 24 percent decline in Gulfstream revenues that was offset in part by revenues from Jet Aviation, which we acquired in the fourth quarter of 2008.", + "The combination of the global economic deterioration and credit crisis along with negative business-jet rhetoric had a significant impact on the business-jet market in 2009.", + "To adjust to the economic conditions and weakened demand, we reduced Gulfstream\u2019s 2009 aircraft production and delivery schedule, primarily in the group\u2019s mid\u0002size models, to bridge the market downturn.", + "This included a five-week furlough at the group\u2019s production center in Savannah, Georgia, in July and August.", + "As a result, aircraft-manufacturing revenues decreased 28 percent in 2009 compared with 2008.", + "The economic environment also impacted the group\u2019s aircraft services business.", + "Organic aircraft\u0002services revenues were down 15 percent in 2009 resulting from reduced flying hours and customer deferral of aircraft maintenance.", + "The decline in aircraft manufacturing and services revenues was slightly offset by higher pre-owned aircraft revenues in 2009.", + "The group sold six pre-owned aircraft for $124 in 2009 compared with two sales for $18 in 2008.", + "The group\u2019s operating earnings declined in 2009 compared with 2008 due primarily to the factors noted above.", + "The components of the reduction in earnings were as follows:", + "|Aircraft manufacturing and completions|$-220|\n|Pre-owned aircraft|-18|\n|Aircraft services|1|\n|Other|-77|\n|Total decrease in operating earnings|$-314|\n", + "The net decrease in the group\u2019s aircraft manufacturing and comple\u0002tions earnings in 2009 resulted from the reduction in Gulfstream aircraft deliveries offset in part by the addition of Jet Aviation\u2019s aircraft comple\u0002tions and refurbishing business.", + "The earnings decline associated with the decreased Gulfstream volume was mitigated by cost-reduction initiatives, a shift in the mix of aircraft deliveries toward large-cabin aircraft, and liq\u0002uidated damages collected on defaulted aircraft contracts.", + "As a result, aircraft manufacturing margins increased in 2009 over 2008 despite the decline in volume during the year.", + "The group continues to focus on reduc\u0002ing costs through production improvements and operational efficiencies to maintain aircraft-manufacturing margins.", + "In late 2008 and early 2009, the supply in the global pre-owned air\u0002craft market increased significantly, putting considerable pressure on pricing.", + "As a result, the group wrote down the carrying value of its pre\u0002owned aircraft inventory in 2009.", + "Pricing in the pre-owned market appears to have stabilized in the second half of 2009, particularly for large-cabin aircraft.", + "The group continues to work to minimize its pre\u0002owned aircraft exposure, with four pre-owned aircraft valued at $60 remaining in inventory at the end of 2009.", + "Aircraft services earnings were steady in 2009 compared with 2008 as the addition of Jet Aviation\u2019s maintenance and repair activities, fixed\u0002base operations and aircraft management services offset a decrease in organic aircraft services earnings.", + "A significant reduction in flight hours in the business-jet market put competitive pressure on aircraft mainte\u0002nance and repair earnings in 2009.", + "The group\u2019s operating earnings also were impacted negatively in 2009 by severance costs associated with workforce reduction activities and intangible asset amortization related to the Jet Aviation acquisition.", + "The factors discussed above and the addition of lower-margin Jet Aviation business caused the group\u2019s overall operating margins to decrease 480 basis points in 2009 compared with 2008.", + "Overview Vornado Realty Trust (\u201cVornado\u201d) is a fully-integrated real estate investment trust (\u201cREIT\u201d) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L. P. , a Delaware limited partnership (the \u201cOperating Partnership\u201d).", + "Accordingly, Vornado\u2019s cash flow and ability to pay dividends to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors.", + "Vornado is the sole general partner of, and owned approximately 93.5% of the common limited partnership interest in the Operating Partnership at December 31, 2011.", + "All references to \u201cwe,\u201d \u201cus,\u201d \u201cour,\u201d the \u201cCompany\u201d and \u201cVornado\u201d refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.", + "We own and operate office, retail and showroom properties (our \u201ccore\u201d operations) with large concentrations of office and retail properties in the New York City metropolitan area and in the Washington, DC / Northern Virginia area.", + "In addition, we have a 32.7% interest in Toys \u201cR\u201d Us, Inc. (\u201cToys\u201d) which has a significant real estate component, a 32.4% interest in Alexander\u2019s, Inc. (NYSE: ALX) (\u201cAlexander\u2019s\u201d), which has seven properties in the greater New York metropolitan area, as well as interests in other real estate and related investments.", + "Our business objective is to maximize shareholder value, which we measure by the total return provided to our shareholders.", + "Below is a table comparing our performance to the Morgan Stanley REIT Index (\u201cRMS\u201d) and the SNL REIT Index (\u201cSNL\u201d) for the following periods ended December 31, 2011:", + "| | Total Return-1|\n| | Vornado| RMS| SNL|\n|One-year|-4.6%|8.7%|8.3%|\n|Three-year|40.2%|79.6%|79.9%|\n|Five-year|-25.2%|-7.3%|-3.9%|\n|Ten-year|187.0%|163.2%|175.4%|\n|||||\n||||\n", + "We intend to achieve our business objective by continuing to pursue our investment philosophy and executing our operating strategies through: ?", + "Maintaining a superior team of operating and investment professionals and an entrepreneurial spirit; ?", + "Investing in properties in select markets, such as New York City and Washington, DC, where we believe there is a high likelihood of capital appreciation; ?", + "Acquiring quality properties at a discount to replacement cost and where there is a significant potential for higher rents; ?", + "Investing in retail properties in select under-stored locations such as the New York City metropolitan area; ?", + "Developing and redeveloping existing properties to increase returns and maximize value; and ?", + "Investing in operating companies that have a significant real estate component.", + "We expect to finance our growth, acquisitions and investments using internally generated funds, proceeds from possible asset sales and by accessing the public and private capital markets.", + "We may also offer Vornado common or preferred shares or Operating Partnership units in exchange for property and may repurchase or otherwise reacquire these securities in the future.", + "We compete with a large number of real estate property owners and developers, some of which may be willing to accept lower returns on their investments than we are.", + "Principal factors of competition include rents charged, attractiveness of location, the quality of the property and the breadth and the quality of services provided.", + "Our success depends upon, among other factors, trends of the national, regional and local economies, the financial condition and operating results of current and prospective tenants and customers, availability and cost of capital, construction and renovation costs, taxes, governmental regulations, legislation and population trends.", + "See \u201cRisk Factors\u201d in Item 1A for additional information regarding these factors.", + "Costs under the Transformational Cost Management Program, which were primarily recorded in selling, general and administrative expenses and included in the fiscal year ended August 31, 2019 were as follows (in millions):" + ], + "question_id": "simplong-test-270", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what percent of warehouse locations are located in japan .", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Backlog Applied manufactures systems to meet demand represented by order backlog and customer commitments.", + "Backlog consists of: (1) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months, or shipment has occurred but revenue has not been recognized; and (2) contractual service revenue and maintenance fees to be earned within the next 12 months.", + "Backlog by reportable segment as of October 27, 2013 and October 28, 2012 was as follows:", + "||2013|2012||(In millions, except percentages)|\n|Silicon Systems Group|$1,295|55%|$705|44%|\n|Applied Global Services|591|25%|580|36%|\n|Display|361|15%|206|13%|\n|Energy and Environmental Solutions|125|5%|115|7%|\n|Total|$2,372|100%|$1,606|100%|\n", + "Applied\u2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods, due to the potential for customer changes in delivery schedules or cancellation of orders.", + "Customers may delay delivery of products or cancel orders prior to shipment, subject to possible cancellation penalties.", + "Delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on Applied\u2019s business and results of operations.", + "Manufacturing, Raw Materials and Supplies Applied\u2019s manufacturing activities consist primarily of assembly, test and integration of various proprietary and commercial parts, components and subassemblies (collectively, parts) that are used to manufacture systems.", + "Applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries, including the United States, Europe, Israel, Singapore, Taiwan, and other countries in Asia, and assembly of some systems is completed at customer sites.", + "Applied uses numerous vendors, including contract manufacturers, to supply parts and assembly services for the manufacture and support of its products.", + "Although Applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers, this is not always possible.", + "Accordingly, some key parts may be obtained from only a single supplier or a limited group of suppliers.", + "Applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by: (1) selecting and qualifying alternate suppliers for key parts; (2) monitoring the financial condition of key suppliers; (3) maintaining appropriate inventories of key parts; (4) qualifying new parts on a timely basis; and (5) locating certain manufacturing operations in close proximity to suppliers and customers.", + "Research, Development and Engineering Applied\u2019s long-term growth strategy requires continued development of new products.", + "The Company\u2019s significant investment in research, development and engineering (RD&E) has generally enabled it to deliver new products and technologies before the emergence of strong demand, thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle.", + "Applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements.", + "Product development and engineering organizations are located primarily in the United States, as well as in Europe, Israel, Taiwan, and China.", + "In addition, Applied outsources certain RD&E activities, some of which are performed outside the United States, primarily in India.", + "Process support and customer demonstration laboratories are located in the United States, China, Taiwan, Europe, and Israel.", + "Applied\u2019s investments in RD&E for product development and engineering programs to create or improve products and technologies over the last three years were as follows: $1.3 billion (18 percent of net sales) in fiscal 2013, $1.2 billion (14 percent of net sales) in fiscal 2012, and $1.1 billion (11 percent of net sales) in fiscal 2011.", + "Applied has spent an average of 14 percent of net sales in RD&E over the last five years.", + "In addition to RD&E for specific product technologies, Applied maintains ongoing programs for automation control systems, materials research, and environmental control that are applicable to its products.", + "Item 2: Properties Information concerning Applied\u2019s principal properties at October 27, 2013 is set forth below:", + "|Location|Type|Principal Use|SquareFootage|Ownership|\n|Santa Clara, CA|Office, Plant & Warehouse|Headquarters; Marketing; Manufacturing; Distribution; Research, Development,Engineering; Customer Support|1,476,000150,000|OwnedLeased|\n|Austin, TX|Office, Plant & Warehouse|Manufacturing|1,719,000145,000|OwnedLeased|\n|Rehovot, Israel|Office, Plant & Warehouse|Manufacturing; Research,Development, Engineering;Customer Support|417,0005,000|OwnedLeased|\n|Singapore|Office, Plant & Warehouse|Manufacturing andCustomer Support|392,00010,000|OwnedLeased|\n|Gloucester, MA|Office, Plant & Warehouse|Manufacturing; Research,Development, Engineering;Customer Support|315,000131,000|OwnedLeased|\n|Tainan, Taiwan|Office, Plant & Warehouse|Manufacturing andCustomer Support|320,000|Owned|\n", + "Because of the interrelation of Applied\u2019s operations, properties within a country may be shared by the segments operating within that country.", + "Products in the Silicon Systems Group are manufactured in Austin, Texas; Singapore; Gloucester, Massachusetts; and Rehovot, Israel.", + "Remanufactured equipment products in the Applied Global Services segment are produced primarily in Austin, Texas.", + "Products in the Display segment are manufactured in Tainan, Taiwan; Santa Clara, California; and Alzenau, Germany.", + "Products in the Energy and Environmental Solutions segment are primarily manufactured in Alzenau, Germany; Treviso, Italy; and Cheseaux, Switzerland.", + "In addition to the above properties, Applied also owns and leases offices, plants and/or warehouse locations in 78 locations throughout the world: 18 in Europe, 21 in Japan, 15 in North America (principally the United States), 8 in China, 7 in Korea, 6 in Southeast Asia, and 3 in Taiwan.", + "These facilities are principally used for manufacturing; research, development and engineering; and marketing, sales and/or customer support.", + "Applied also owns a total of approximately 139 acres of buildable land in Texas, California, Israel and Italy that could accommodate additional building space.", + "Applied considers the properties that it owns or leases as adequate to meet its current and future requirements.", + "Applied regularly assesses the size, capability and location of its global infrastructure and periodically makes adjustments based on these assessments.", + "Fiscal 2013 operating results reflected a recovery in demand for TV manufacturing equipment and continued demand for advanced mobile display equipment, which resulted in increased new orders, net sales, operating income and non-GAAPadjusted operating income compared to fiscal 2012.", + "In the fourth quarter of fiscal 2013, new orders were $114 million, down 55 percent from the prior quarter, and reflected customer push-outs of orders.", + "Net sales in the fourth quarter of fiscal 2013 were $163 million, almost flat compared to the prior quarter.", + "Two customers accounted for approximately 50 percent of net sales for the Display segment in fiscal 2013.", + "Fiscal 2012 operating results reflected a continued overcapacity in the large substrate LCD TV equipment industry that resulted in decreased new orders and net sales in fiscal 2012.", + "The downturn in the LCD TV equipment industry was partially offset by increased demand for advanced mobile display equipment.", + "Four customers accounted for 60 percent of net sales for the Display segment in fiscal 2012.", + "Energy and Environmental Solutions Segment The Energy and Environmental Solutions segment includes products for fabricating c-Si solar PVs, as well as high throughput roll-to-roll deposition equipment for flexible electronics, packaging and other applications.", + "This business is focused on delivering solutions to generate and conserve energy, with an emphasis on lowering the cost to produce solar power and increasing conversion efficiency.", + "While end-demand for solar PVs has been robust over the last several years, investment levels in capital equipment remain depressed.", + "Global solar PV production capacity exceeds anticipated demand, which has caused solar PV manufacturers to significantly reduce or delay investments in manufacturing capacity and new technology, or in some instances to cease operations.", + "Certain significant measures for the past three fiscal years were as follows:", + "|||||Change|\n|2013|2012|2011|2013 over 2012|2012 over 2011|\n||(In millions, except percentages and ratios)|\n|New orders|$166|$195|$1,684|$-29|-15%|$-1,489|-88%|\n|Net sales|173|425|1,990|-252|-59%|-1,565|-79%|\n|Book to bill ratio|1.0|0.5|0.8|||||\n|Operating income (loss)|-433|-668|453|235|35%|-1,121|-247%|\n|Operating margin|-250.3%|-157.2%|22.8%||-93.1 points||-180.0 points|\n|Non-GAAP Adjusted Results||||||||\n|Non-GAAP adjusted operating income (loss)|-115|-184|444|69|38%|-628|-141%|\n|Non-GAAP adjusted operating margin|-66.5%|-43.3%|22.3%||-23.2 points||-65.6 points|\n", + "Reconciliations of non-GAAP adjusted measures are presented under \"Non-GAAP Adjusted Results\" below.", + "Net Operating Revenues by Operating Segment Information about our net operating revenues by operating segment as a percentage of Company net operating revenues is as follows:" + ], + "question_id": "simplong-test-271", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Other in 2005 and Bond trading securities, at fair value of Asset Management in 2008? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Financial Services Operations AlG's Financial Services subsidiaries engage in diversified activi- ties including aircraft and equipment leasing, capital markets, consumer finance and insurance premium finance.", + "Financial Services Results Financial Services results for 2006,2005 and 2004 were as follows:", + "|(in millions)|2006|2005|2004|\n|Revenues(a):||||\n|Aircraft Leasing(b)|$4,143|$3,578|$3,136|\n|Capital Markets(c)(d)|-186|3,260|1,278|\n|Consumer Finance(e)|3,819|3,613|2,978|\n|Other|234|74|103|\n|Total|$8,010|$10,525|$7,495|\n|Operating income (loss)(a):|||\n|Aircraft Leasing|$639|$679|$642|\n|Capital Markets(d)|-873|2,661|662|\n|Consumer Finance(f)|761|876|786|\n|Other, includingintercompany adjustments(g)|-3|60|90|\n|Total|$524|$4,276|$2,180|\n", + "(a) Includes the effect of hedging activities that did not qualify for hedge accounting treatment under FAS 133, including the related foreign exchange gains and osses.", + "For 2006,2005 and 2004, respectively, the effect was $(1.8) billion,$2.0 billion and $(122) million in both revenues and operating income for Capital Markets.", + "These amounts result primarily from interest rate and foreign currency derivatives that are economicaly hedging available for sale securities and borrowings.", + "For 2004, the effect was $(27) million in operating income for Aircrat Leasing.", + "During 2006 and 2005, Aircraft Leasing derivative gains and losses were reported as part of AlG's Other category, and were not reported in Aircraft Leasing operating income.", + "(b) Revenues are primarily aircraft lease rentals from ILFC.", + "(cC) Revenues, shown net of interest expense of $3.2 bilion,$3.0 bilion and $2.3 bilion, in 2006,2005 and 2004, respectively, were primarily from hedged financial positions entered into in connection with counterparty transactions and the effect of hedging activities that did not quality for hedge accounting treatment under FAS 133 described n (a) above.", + "(d) Certain transactions entered into by AIGFP generate tax credits and benefits which are included in income taxes in the consolidated statement of income.", + "The amounts of such tax credits and benefits fod the years ended December 31,2006,2005 and 2004, respectively.", + "are $50 million,$67 milion and $107 million.", + "(e) Revenues are primarily fimance charges.", + "() includes catastrophe-related losses of $62 milion recorded in the third quarter of 2005 resulting from hurricane Katrina, which were reduced by $35 milion in 2006 due to the reevaluation of the remaining estimated los ses.", + "(g) Includes specific reserves recorded during 2006 in the amount of $42 millon related to two commercial lending trans actions.", + "Financial Services operating income decreased in 2006 com- pared to 2005 and increased in 2005 compared to 2004, due primarily to the effect of hedging activities that did not qualify for hedge accounting under FAS 133.", + "AIG is reinstituting hedge accounting in the first quarter of 2007 for AlGFP and later in 2007 for the balance of the Financial Services operations.", + "Aircraft Leasing AlG's Aircraft Leasing operations represent the operations of ILFC, which generates its revenues primarily from leasing new and used commercial jet aircraft to foreign and domestic airlines.", + "Revenues also result from the remarketing of commercial jets for ILFC's own account, and remarketing and fleet management services for airlines and financial institutions.", + "ILFC finances its purchases of aircraft primarily through the issuance of a variety of debt instruments.", + "The composite borrowing rates at December 31, 2006 and 2005 were 5.17 percent and 4.61 percent, respec- tively.", + "The composite borrowing rates did not reflect the benefit of economically hedging ILFC's floating rate and foreign currency denominated debt using interest rate and foreign currency deriva tives.", + "These derivatives are effective economic hedges; however, since hedge accounting under FAS 133 was not applied, the benefits of using derivatives to hedge these exposures were not reflected in ILFC's borrowing rates.", + "ILFC's sources of revenue are principally from scheduled and charter airlines and companies associated with the airline indus- try.", + "The airline industry is sensitive to changes in economic conditions and is cyclical and highly competitive.", + "Airlines and related companies may be affected by political or economic instability, terrorist activities, changes in national policy, competi- tive pressures on certain air carriers, fuel prices and shortages, labor stoppages, insurance costs, recessions, world health issues and other political or economic events adversely affecting world or regonal trading markets.", + "ILFC is exposed to operating loss and liquidity strain through nonperformance of aircraft lessees, through owning aircraft which it would be unable to sell or re-lease at acceptable rates at lease expiration and, in part, through committing to purchase aircraft which it would be unable to lease.", + "ILFC\u2019s revenues and operating income may be adversely affected by the volatile competitive environment in which its customers operate.", + "ILFC manages the risk of nonperformance by its lessees with security deposit requirements, repossession rights, overhaul requirements and close monitoring of industry conditions through its marketing force.", + "However, there can be no assurance that ILFC would be able to successfully manage the risks relating to the effect of possible future deterioration in the airline industry.", + "Approximately 90 percent of ILFC\u2019s ?eet is leased to non-U.", + "S. carriers, and the ?eet, comprised of the most ef?cient aircraft in the airline industry, continues to be in high demand from such carriers.", + "ILFC typically contracts to re-lease aircraft before the end of the existing lease term.", + "For aircraft returned before the end of the lease term, ILFC has generally been able to re-lease such aircraft within two to six months of its return.", + "As a lessor, ILFC considers an aircraft \u2018\u2018idle\u2019\u2019 or \u2018\u2018off lease\u2019\u2019 when the aircraft is not subject to a signed lease agreement or signed letter of intent.", + "ILFC had one aircraft off lease at December 31, 2006, and all new aircraft scheduled for delivery through 2007 have been leased.", + "Management formally reviews regularly, and no less frequently than quarterly, issues affecting ILFC\u2019s ?eet, including events and circumstances that may cause impairment of aircraft values.", + "Management evaluates aircraft in the ?eet as necessary based on", + "American International Group, Inc. and Subsidiaries Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Continued", + "||Life Insurance &||\n||General|Retirement|Financial|Asset||\n|(in millions)|Insurance|Services|Services|Management|Other|Total|\n|2006|||||||\n|Fixed maturities:|||||||\n|Bonds available for sale, at fair value|$67,994|$288,018|$1,357|$29,500|$\u2014|$386,869|\n|Bonds held to maturity, at amortized cost|21,437|\u2014|\u2014|\u2014|\u2014|21,437|\n|Bond trading securities, at fair value|1|10,835|\u2014|\u2014|\u2014|10,836|\n|Equity securities:|||||||\n|Common stocks available for sale, at fair value|4,245|8,705|\u2014|226|80|13,256|\n|Common stocks trading, at fair value|350|14,505|\u2014|\u2014|\u2014|14,855|\n|Preferred stocks available for sale, at fair value|1,884|650|5|\u2014|\u2014|2,539|\n|Mortgage and other loans receivable, net of allowance|17|21,043|2,398|4,884|76|28,418|\n|Financial services assets:|||||||\n|Flight equipment primarily under operating leases, net of accumulated depreciation|\u2014|\u2014|39,875|\u2014|\u2014|39,875|\n|Securities available for sale, at fair value|\u2014|\u2014|47,205|\u2014|\u2014|47,205|\n|Trading securities, at fair value|\u2014|\u2014|5,031|\u2014|\u2014|5,031|\n|Spot commodities|\u2014|\u2014|220|\u2014|\u2014|220|\n|Unrealized gain on swaps, options and forward transactions|\u2014|\u2014|19,607|\u2014|-355|19,252|\n|Trade receivables|\u2014|\u2014|4,317|\u2014|\u2014|4,317|\n|Securities purchased under agreements to resell, at contract value|\u2014|\u2014|30,291|\u2014|\u2014|30,291|\n|Finance receivables, net of allowance|\u2014|\u2014|29,573|\u2014|\u2014|29,573|\n|Securities lending invested collateral, at fair value|5,376|50,099|76|13,755|\u2014|69,306|\n|Other invested assets|9,207|13,962|2,212|13,198|3,532|42,111|\n|Short-term investments, at cost|3,281|15,192|2,807|6,198|5|27,483|\n|Total investments and financial services assets as shown on the balance sheet|113,792|423,009|184,974|67,761|3,338|792,874|\n|Cash|334|740|390|118|8|1,590|\n|Investment income due and accrued|1,363|4,378|23|326|1|6,091|\n|Real estate, net of accumulated depreciation|570|698|17|75|26|1,386|\n|Total invested assets(a)(b)|$116,059|$428,825|$185,404|$68,280|$3,373|$801,941|\n", + "(a) Certain reclassifications and format changes have been made to prior period amounts to conform to the current period presentation.", + "(b) At December 31, 2006, approximately 68 percent and 32 percent of invested assets were held in domestic and foreign investments, respectively.", + "Investment Strategy AIG\u2019s investment strategies are tailored to the speci?c business needs of each operating unit.", + "The investment objectives are driven by the business model for each of the businesses: General Insurance, Life Insurance, Retirement Services and Asset Manage-ment\u2019s Spread-Based Investment business.", + "The primary objectives are in terms of preservation of capital, growth of surplus and generation of investment income to support the insurance products.", + "At the local operating unit level, the strategies are based on considerations that include the local market, liability duration and cash ?ow characteristics, rating agency and regula- tory capital considerations, legal investment limitations, tax optimization and diversi?cation.", + "In addition to local risk manage-ment considerations, AIG\u2019s corporate risk management guidelines impose limitations on concentrations to promote diversi?cation by industry, asset class and geographic sector.", + "American International Group, Inc. , and Subsidiaries resulted in a benefit to the surplus of the domestic and foreign General Insurance companies of $114 million and $859 million, respectively, and did not affect compliance with minimum regulatory capital requirements.", + "As discussed under Item 3.", + "Legal Proceedings, various regulators have commenced investigations into certain insurance business practices.", + "In addition, the OTS and other regulators routinely conduct examinations of AIG and its subsidiaries, including AIG\u2019s consumer finance operations.", + "AIG cannot predict the ultimate effect that these investigations and examinations, or any additional regulation arising therefrom, might have on its business.", + "Federal, state or local legislation may affect AIG\u2019s ability to operate and expand its various financial services businesses, and changes in the current laws, regulations or interpretations thereof may have a material adverse effect on these businesses.", + "AIG\u2019s U. S. operations are negatively affected under guarantee fund assessment laws which exist in most states.", + "As a result of operating in a state which has guarantee fund assessment laws, a solvent insurance company may be assessed for certain obligations arising from the insolvencies of other insurance companies which operated in that state.", + "AIG generally records these assessments upon notice.", + "Additionally, certain states permit at least a portion of the assessed amount to be used as a credit against a company\u2019s future premium tax liabilities.", + "Therefore, the ultimate net assessment cannot reasonably be estimated.", + "The guarantee fund assessments net of credits recognized in 2008, 2007 and 2006, respectively, were $8 million, $87 million and $97 million.", + "AIG is also required to participate in various involuntary pools (principally workers\u2019 compensation business) which provide insurance coverage for those not able to obtain such coverage in the voluntary markets.", + "This participation is also recorded upon notification, as these amounts cannot reasonably be estimated.", + "A substantial portion of AIG\u2019s General Insurance business and a majority of its Life Insurance & Retirement Services business are conducted in foreign countries.", + "The degree of regulation and supervision in foreign jurisdictions varies.", + "Generally, AIG, as well as the underwriting companies operating in such jurisdictions, must satisfy local regulatory requirements.", + "Licenses issued by foreign authorities to AIG subsidiaries are subject to modification and revocation.", + "Thus, AIG\u2019s insurance subsidiaries could be prevented from conducting future business in certain of the jurisdictions where they currently operate.", + "AIG\u2019s international operations include operations in various developing nations.", + "Both current and future foreign operations could be adversely affected by unfavorable political developments up to and including nationalization of AIG\u2019s operations without compensation.", + "Adverse effects resulting from any one country may affect AIG\u2019s results of operations, liquidity and financial condition depending on the magnitude of the event and AIG\u2019s net financial exposure at that time in that country.", + "Foreign insurance operations are individually subject to local solvency margin requirements that require maintenance of adequate capitalization, which AIG complies with by country.", + "In addition, certain foreign locations, notably Japan, have established regulations that can result in guarantee fund assessments.", + "These have not had a material effect on AIG\u2019s financial condition or results of operations.", + "Investments Investments by Segment The following tables summarize the composition of AIG\u2019s investments by segment:", + "|| General Insurance| Life Insurance & Retirement Services| Financial Services| Asset Management| Other| Total|\n|| (In millions)|\n| At December 31, 2008|||||||\n|Fixed maturity securities:|||||||\n|Bonds available for sale, at fair value|$85,791|$262,824|$1,971|$12,284|$172|$363,042|\n|Bond trading securities, at fair value|\u2014|6,296|26,848|5|4,099|37,248|\n|Securities lending invested collateral, at fair value|790|3,054|\u2014|\u2014|\u2014|3,844|\n", + "Business Separation Costs On 16 September 2015, the Company announced that it intends to separate its Materials Technologies business via a spin-off.", + "During the fourth quarter, we incurred legal and other advisory fees of $7.5 ($.03 per share).", + "Gain on Previously Held Equity Interest On 30 December 2014, we acquired our partner\u2019s equity ownership interest in a liquefied atmospheric industrial gases production joint venture in North America for $22.6 which increased our ownership from 50% to 100%.", + "The transaction was accounted for as a business combination, and subsequent to the acquisition, the results are consolidated within our Industrial Gases \u2013 Americas segment.", + "The assets acquired, primarily plant and equipment, were recorded at their fair value as of the acquisition date.", + "The acquisition date fair value of the previously held equity interest was determined using a discounted cash flow analysis under the income approach.", + "During the first quarter of 2015, we recorded a gain of $17.9 ($11.2 after-tax, or $.05 per share) as a result of revaluing our previously held equity interest to fair value as of the acquisition date.", + "Advisory Costs During the fourth quarter of 2013, we incurred legal and other advisory fees of $10.1 ($6.4 after-tax, or $.03 per share) in connection with our response to the rapid acquisition of a large position in shares of our common stock by Pershing Square Capital Management LLC and its affiliates.", + "Other Income (Expense), Net Items recorded to other income (expense), net arise from transactions and events not directly related to our principal income earning activities.", + "The detail of other income (expense), net is presented in Note 24, Supplemental Information, to the consolidated financial statements.2015 vs. 2014 Other income (expense), net of $47.3 decreased $5.5.", + "The current year includes a gain of $33.6 ($28.3 after-tax, or $.13 per share) resulting from the sale of two parcels of land.", + "The gain was partially offset by unfavorable foreign exchange impacts and lower gains on other sales of assets and emissions credits.", + "No other individual items were significant in comparison to the prior year.2014 vs. 2013 Other income (expense), net of $52.8 decreased $17.4, primarily due to higher gains from the sale of a number of small assets and investments, higher government grants, and a favorable commercial contract settlement in 2013.", + "Otherwise, no individual items were significant in comparison to 2013." + ], + "question_id": "simplong-test-272", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in weighted average shares outstanding for diluted net earnings per share from 2006 to 2007?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ABIOMED, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements\u2014(Continued) Note 12.", + "Stock Award Plans and Stock Based Compensation (Continued) Restricted Stock The following table summarizes restricted stock activity for the fiscal year ended March 31, 2009:", + "|| March 31, 2009|\n||Number of Shares (in thousands)| Grant Date Fair Value|\n|Restricted stock awards at March 31, 2008|54|$11.52|\n|Granted|666|16.75|\n|Vested|-167|14.65|\n|Forfeited|-73|17.53|\n|Restricted stock awards at March 31, 2009|480|$16.77|\n", + "The remaining unrecognized compensation expense for restricted stock awards at March 31, 2009 was $4.6 million.", + "The weighted average remaining contractual life for restricted stock awards at March 31, 2009 and 2008 was 1.8 and 2.4 years, respectively.", + "In May 2008, 260,001 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, of which 130,002 of these shares vest upon achievement of a prescribed performance milestone.", + "In September 2008, the Company met the prescribed performance milestone, and all of these performance-based shares vested.", + "In connection with the vesting of these shares, these employees paid withholding taxes due by returning 39,935 shares valued at $0.7 million.", + "These shares have been recorded as treasury stock as of March 31, 2009.", + "The remaining 129,999 of the restricted shares award vest ratably over four years from the grant date.", + "The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period, based on the probability of achieving the performance milestones.", + "In August 2008, 406,250 shares of restricted stock were issued to certain executive officers and certain members of senior management of the Company, all of which could vest upon achievement of certain prescribed performance milestones.", + "In March 2009, the Company met a prescribed performance milestone, and a portion of these performance-based shares vested.", + "The remaining stock compensation expense for the restricted stock awards is being recognized on a straight-line basis over the vesting period through March 31, 2011 based on the probability of achieving the performance milestones.", + "The cumulative effects of changes in the probability of achieving the milestones will be recorded in the period in which the changes occur.", + "During the year ended March 31, 2008, 60,000 shares of restricted stock were issued to certain executive officers of the Company that vest on the third anniversary of the date of grant.", + "The stock compensation expense for the restricted stock awards is recognized on a straight-line basis over the vesting period.", + "Employee Stock Purchase Plan In March 1988, the Company adopted the 1988 Employee Stock Purchase Plan (\u201cthe Purchase Plan\u201d or \u201cESPP\u201d), as amended.", + "Under the Purchase Plan, eligible employees, including officers and directors, who have completed three months of employment with the Company or its subsidiaries who elect to participate in the Purchase plan instruct the Company to withhold a specified amount from each payroll period during a six-month payment period (the periods April 1\u2014September 30 and October 1\u2014March 31).", + "On the last business day of each payment period, the amount withheld is used to purchase common stock at an exercise price equal to 85% of the lower of its market price on the first business day or the last business day of the payment period.", + "Up to 500,000 shares of common stock may be issued under the Purchase Plan, of which 163,245 shares are available for future issuance as of March 31, 2009.", + "During the years ended March 31, 2009, 2008 and 2007, 45,823, 23,930, and 27,095 shares of common stock, respectively, were sold pursuant to the Purchase Plan.", + "PAR T I I Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.", + "Market Information Our common stock is traded on the New York Stock Exchange under the ticker symbol BBY.", + "The table below sets forth the high and low sales prices of our common stock as reported on the New York Stock Exchange \u2014 Composite Index during the periods indicated.", + "The stock prices below have been revised to reflect a three-for-two stock split effected on August 3, 2005.", + "| | Sales Price|\n| | High| Low|\n|Fiscal 2006|||\n|First Quarter|$36.99|$31.93|\n|Second Quarter|53.17|36.20|\n|Third Quarter|50.88|40.40|\n|Fourth Quarter|56.00|42.75|\n|Fiscal 2005|||\n|First Quarter|$37.50|$30.10|\n|Second Quarter|36.42|29.25|\n|Third Quarter|41.47|30.57|\n|Fourth Quarter|40.48|33.91|\n", + "Holders As of April 24, 2006, there were 2,632 holders of record of Best Buy common stock.", + "Dividends In fiscal 2004, our Board initiated the payment of a regular quarterly cash dividend, then $0.07 per common share per quarter.", + "A quarterly cash dividend has been paid in each subsequent quarter.", + "Effective with the quarterly cash dividend paid in the third quarter of fiscal 2005, we increased our quarterly cash dividend per common share by 10 percent.", + "Effective with the quarterly cash dividend paid in the third quarter of fiscal 2006, we increased our quarterly cash dividend per common share by 9 percent to $0.08 per common share per quarter.", + "The payment of cash dividends is subject to customary legal and contractual restrictions.", + "Future dividend payments will depend on the Company\u2019s earnings, capital requirements, financial condition and other factors considered relevant by our Board.", + "Purchases of Equity Securities by the Issuer and Affiliated Purchasers In April 2005, our Board authorized a $1.5 billion share repurchase program.", + "The program, which became effective on April 27, 2005, terminated and replaced a $500 million share repurchase program authorized by our Board in June 2004.", + "Effective on June 24, 2004, our Board authorized the $500 million share repurchase program, which terminated and replaced a $400 million share repurchase program authorized by our Board in fiscal 2000.", + "During the fourth quarter of fiscal 2006, we purchased and retired 7.1 million shares at a cost of $338 million.", + "Since the inception of the $1.5 billion share repurchase program in fiscal 2006, we purchased and retired 16.5 million shares at a cost of $711 million.", + "We consider several factors in determining when to make share repurchases including, among other things, our cash needs and the market price of the stock.", + "At the end of fiscal 2006, $790 million of the $1.5 billion originally authorized by our Board was available for future share repurchases.", + "Cash provided by future operating activities, available cash and cash equivalents, as well as short-term investments, are the expected sources of funding for the share repurchase program.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Continued Con Edison\u2019s principal business segments are CECONY\u2019s regulated utility activities, O&R\u2019s regulated utility activities and Con Edison\u2019s competitive energy businesses.", + "CECONY\u2019s principal business segments are its regulated electric, gas and steam utility activities.", + "A discussion of the results of operations by principal business segment for the years ended December 31, 2014, 2013 and 2012 follows.", + "For additional business segment financial information, see Note N to the financial statements in Item 8.", + "Year Ended December 31, 2014 Compared with Year Ended December 31, 2013 The Companies\u2019 results of operations in 2014 compared with 2013 were:", + "||CECONY|O&R|Competitive Energy Businesses|Other(a)|Con Edison(b)|\n| (Millions of Dollars)|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|Increases (Decreases) Amount|Increases (Decreases) Percent|\n|Operating revenues|$356|3.4%|$59|7.1%|$148|13.5%|$2|40.0%|$565|4.6%|\n|Purchased power|70|3.5|21|9.7|227|26.4|-|-|318|10.3|\n|Fuel|-35|-10.9|-|-|-|-|-|-|-35|-10.9|\n|Gas purchased for resale|77|14.5|12|15.8|88|Large|-1|Large|176|27.7|\n|Other operations and maintenance|138|5.0|16|5.3|3|2.9|-|-|157|5.0|\n|Depreciation and amortization|45|4.8|5|8.9|-4|-17.4|1|Large|47|4.6|\n|Taxes, other than income taxes|-18|-1.0|-2|-3.2|2|11.8|-|-|-18|-0.9|\n|Gain on sale of solar electric production projects|-|-|-|-|45|-|-|-|45|-|\n|Operating income (loss)|79|3.8|7|5.8|-123|Large|2|Large|-35|-1.6|\n|Other income less deductions|10|Large|2|Large|20|Large|-3|Large|29|Large|\n|Net interest expense|16|3.1|-2|-5.4|-143|Large|1|3.8|-128|-17.8|\n|Income before income tax expense|73|4.7|11|13.1|40|62.5|-2|-9.1|122|7.9|\n|Income tax expense|35|6.7|16|84.2|34|82.9|7|31.8|92|19.3|\n|Net income for common stock|$38|3.7%|$-5|-7.7%|$6|26.1%|$-9|Large|$30|2.8%|\n", + "(a) Includes parent company and consolidation adjustments.", + "(b) Represents the consolidated financial results of Con Edison and its businesses.", + "|| Twelve Months Ended December 31, 2014|| Twelve Months Ended December 31, 2013|||\n| (Millions of Dollars)| Electric| Gas| Steam| 2014 Total| Electric| Gas| Steam| 2013 Total|2014-2013 Variation|\n|Operating revenues|$8,437|$1,721|$628|$10,786|$8,131|$1,616|$683|$10,430|$356|\n|Purchased power|2,036|-|55|2,091|1,974|-|47|2,021|70|\n|Fuel|180|-|105|285|174|-|146|320|-35|\n|Gas purchased for resale|-|609|-|609|-|532|-|532|77|\n|Other operations and maintenance|2,270|418|185|2,873|2,180|351|204|2,735|138|\n|Depreciation and amortization|781|132|78|991|749|130|67|946|45|\n|Taxes, other than income taxes|1,458|248|92|1,798|1,459|241|116|1,816|-18|\n| Operating income|$1,712|$314|$113|$2,139|$1,595|$362|$103|$2,060|$79|\n", + "reasonably possible that such matters will be resolved in the next twelve months, but we do not anticipate that the resolution of these matters would result in any material impact on our results of operations or financial position.", + "Foreign jurisdictions have statutes of limitations generally ranging from 3 to 5 years.", + "Years still open to examination by foreign tax authorities in major jurisdictions include Australia (2003 onward), Canada (2002 onward), France (2006 onward), Germany (2005 onward), Italy (2005 onward), Japan (2002 onward), Puerto Rico (2005 onward), Singapore (2003 onward), Switzerland (2006 onward) and the United Kingdom (2006 onward).", + "Our tax returns are currently under examination in various foreign jurisdictions.", + "The most significant foreign tax jurisdiction under examination is the United Kingdom.", + "It is reasonably possible that such audits will be resolved in the next twelve months, but we do not anticipate that the resolution of these audits would result in any material impact on our results of operations or financial position.13.", + "CAPITAL STOCK AND EARNINGS PER SHARE We are authorized to issue 250 million shares of preferred stock, none of which were issued or outstanding as of December 31, 2008.", + "The numerator for both basic and diluted earnings per share is net earnings available to common stockholders.", + "The denominator for basic earnings per share is the weighted average number of common shares outstanding during the period.", + "The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards.", + "The following is a reconciliation of weighted average shares for the basic and diluted share computations for the years ending December 31 (in millions):", + "||2008|2007|2006|\n|Weighted average shares outstanding for basic net earnings per share|227.3|235.5|243.0|\n|Effect of dilutive stock options and other equity awards|1.0|2.0|2.4|\n|Weighted average shares outstanding for diluted net earnings per share|228.3|237.5|245.4|\n", + "For the year ended December 31, 2008, an average of 11.2 million options to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock.", + "For the years ended December 31, 2007 and 2006, an average of 3.1 million and 7.6 million options, respectively, were not included.", + "During 2008, we repurchased approximately 10.8 million shares of our common stock at an average price of $68.72 per share for a total cash outlay of $737.0 million, including commissions.", + "In April 2008, we announced that our Board of Directors authorized a $1.25 billion share repurchase program which expires December 31, 2009.", + "Approximately $1.13 billion remains authorized under this plan.14.", + "SEGMENT DATA We design, develop, manufacture and market orthopaedic and dental reconstructive implants, spinal implants, trauma products and related surgical products which include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation.", + "We also provide other healthcare-related services.", + "Revenue related to these services currently represents less than 1 percent of our total net sales.", + "We manage operations through three major geographic segments \u2013 the Americas, which is comprised principally of the United States and includes other North, Central and South American markets; Europe, which is comprised principally of Europe and includes the Middle East and Africa; and Asia Pacific, which is comprised primarily of Japan and includes other Asian and Pacific markets.", + "This structure is the basis for our reportable segment information discussed below.", + "Management evaluates operating segment performance based upon segment operating profit exclusive of operating expenses pertaining to global operations and corporate expenses, share-based compensation expense, settlement, certain claims, acquisition, integration and other expenses, inventory step-up, in-process research and development write-offs and intangible asset amortization expense.", + "Global operations include research, development engineering, medical education, brand management, corporate legal, finance, and human resource functions, and U. S. and Puerto Rico-based manufacturing operations and logistics.", + "Intercompany transactions have been eliminated from segment operating profit.", + "Management reviews accounts receivable, inventory, property, plant and equipment, goodwill and intangible assets by reportable segment exclusive of U.", + "S and Puerto Rico-based manufacturing operations and logistics and corporate assets." + ], + "question_id": "simplong-test-273", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Total expenses in the years where Other income is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MARATHON OIL CORPORATION Notes to Consolidated Financial Statements Operating lease rental expense was:", + "|(In millions)|2008|2007|2006|\n|Minimum rental(a)|$245|$209|$172|\n|Contingent rental|22|33|28|\n|Sublease rentals|\u2013|\u2013|-7|\n|Net rental expense|$267|$242|$193|\n", + "(a) Excludes $5 million, $8 million and $9 million paid by United States Steel in 2008, 2007 and 2006 on assumed leases.27.", + "Contingencies and Commitments We are the subject of, or party to, a number of pending or threatened legal actions, contingencies and commitments involving a variety of matters, including laws and regulations relating to the environment.", + "Certain of these matters are discussed below.", + "The ultimate resolution of these contingencies could, individually or in the aggregate, be material to our consolidated financial statements.", + "However, management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably.", + "Environmental matters \u2013 We are subject to federal, state, local and foreign laws and regulations relating to the environment.", + "These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites.", + "Penalties may be imposed for noncompliance.", + "At December 31, 2008 and 2007, accrued liabilities for remediation totaled $111 million and $108 million.", + "It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed.", + "Receivables for recoverable costs from certain states, under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets, were $60 and $66 million at December 31, 2008 and 2007.", + "We are a defendant, along with other refining companies, in 20 cases arising in three states alleging damages for methyl tertiary-butyl ether (\u201cMTBE\u201d) contamination.", + "We have also received seven Toxic Substances Control Act notice letters involving potential claims in two states.", + "Such notice letters are often followed by litigation.", + "Like the cases that were settled in 2008, the remaining MTBE cases are consolidated in a multidistrict litigation in the Southern District of New York for pretrial proceedings.", + "Nineteen of the remaining cases allege damages to water supply wells, similar to the damages claimed in the settled cases.", + "In the other remaining case, the State of New Jersey is seeking natural resources damages allegedly resulting from contamination of groundwater by MTBE.", + "This is the only MTBE contamination case in which we are a defendant and natural resources damages are sought.", + "We are vigorously defending these cases.", + "We, along with a number of other defendants, have engaged in settlement discussions related to the majority of the cases in which we are a defendant.", + "We do not expect our share of liability, if any, for the remaining cases to significantly impact our consolidated results of operations, financial position or cash flows.", + "A lawsuit filed in the United States District Court for the Southern District of West Virginia alleges that our Catlettsburg, Kentucky, refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to August, 2003, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption and personal and real property damages.", + "Following the incident, we conducted remediation operations at affected facilities, and we deny that any permanent damages resulted from the incident.", + "Class action certification was granted in August 2007.", + "We have entered into a tentative settlement agreement in this case.", + "Notice of the proposed settlement has been sent to the class members.", + "Approval by the court after a fairness hearing is required before the settlement can be finalized.", + "The fairness hearing is scheduled in the first quarter of 2009.", + "The proposed settlement will not significantly impact our consolidated results of operations, financial position or cash flows.", + "Guarantees \u2013 We have provided certain guarantees, direct and indirect, of the indebtedness of other companies.", + "Under the terms of most of these guarantee arrangements, we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements.", + "In addition to these financial guarantees, we also have various performance guarantees related to specific agreements.", + "Supplementary Information on Oil and Gas Producing Activities (Unaudited) CONTINUED Results of Operations for Oil and Gas Producing Activities", + "|(In millions)|United States|Europe|Africa|Other Int\u2019l|Total|\n|2008|Revenues and other income:||||||\n||Sales(a)|$2,619|$1,283|$1,930|$\u2013|$5,832|\n||Transfers|547|1,062|1,170|\u2013|2,779|\n||Other income(b)|1|254|\u2013|\u2013|255|\n||Total revenues|3,167|2,599|3,100|\u2013|8,866|\n||Expenses:||||||\n||Production costs|-692|-319|-145|\u2013|-1,156|\n||Transportation costs|-153|-59|-36|\u2013|-248|\n||Exploration expenses|-238|-88|-47|-117|-490|\n||Depreciation, depletion and amortization|-671|-512|-144|-1|-1,328|\n||Administrative expenses|-49|-15|-5|-37|-106|\n||Total expenses|-1,803|-993|-377|-155|-3,328|\n||Other production-related income (loss)(c)|-1|35|1|\u2013|35|\n||Results before income taxes|1,363|1,641|2,724|-155|5,573|\n||Income tax (provision) benefit|-516|-598|-1,892|58|-2,948|\n||Results of continuing operations|$847|$1,043|$832|$-97|$2,625|\n|2007|Revenues and other income:||||||\n||Sales(a)|$2,110|$1,198|$1,380|$\u2013|$4,688|\n||Transfers|299|60|1,031|\u2013|1,390|\n||Other income(b)|3|\u2013|2|7|12|\n||Total revenues|2,412|1,258|2,413|7|6,090|\n||Expenses:||||||\n||Production costs|-550|-234|-164|\u2013|-948|\n||Transportation costs|-122|-39|-28|\u2013|-189|\n||Exploration expenses|-274|-23|-118|-37|-452|\n||Depreciation, depletion and amortization|-486|-278|-130|\u2013|-894|\n||Administrative expenses|-56|-11|-6|-34|-107|\n||Total expenses|-1,488|-585|-446|-71|-2,590|\n||Other production-related income(c)|\u2013|103|6|\u2013|109|\n||Results before income taxes|924|776|1,973|-64|3,609|\n||Income tax (provision) benefit|-343|-377|-1,368|24|-2,064|\n||Results of continuing operations|$581|$399|$605|$-40|$1,545|\n||Results of discontinued operations|$\u2013|$\u2013|$\u2013|$8|$8|\n|2006|Revenues and other income:||||||\n||Sales(a)|$2,329|$1,240|$1,300|$\u2013|$4,869|\n||Transfers|307|58|1,168|\u2013|1,533|\n||Other income(b)|3|\u2013|\u2013|46|49|\n||Total revenues|2,639|1,298|2,468|46|6,451|\n||Expenses:||||||\n||Production costs|-512|-207|-126|\u2013|-845|\n||Transportation costs|-124|-44|-33|\u2013|-201|\n||Exploration expenses|-169|-29|-91|-73|-362|\n||Depreciation, depletion and amortization|-458|-281|-127|\u2013|-866|\n||Administrative expenses|-41|-10|-6|-36|-93|\n||Total expenses|-1,304|-571|-383|-109|-2,367|\n||Other production-related income(c)|\u2013|73|1|\u2013|74|\n||Results before income taxes|1,335|800|2,086|-63|4,158|\n||Income tax (provision) benefit|-489|-358|-1,457|4|-2,300|\n||Results of continuing operations|$846|$442|$629|$-59|$1,858|\n||Results of discontinued operations|$\u2013|$\u2013|$\u2013|$273|$273|\n", + "(a) Excludes noncash effects of changes in the fair value of certain natural gas sales contracts in the United Kingdom.", + "(b) Includes net gain on disposal of assets.", + "(c) Includes revenues, net of associated costs, from activities that are an integral part of our production operations which may include processing or transportation of third-party production, the purchase and subsequent resale of natural gas utilized for reservoir management and providing storage capacity.", + "Supplementary Information on Oil and Gas Producing Activities (Unaudited) CONTINUED Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves", + "|(In millions)|2008|2007|2006|\n|Sales and transfers of oil and gas produced, net of production, transportation and administrative costs|$-7,141|$-4,887|$-5,312|\n|Net changes in prices and production, transportation and administrative costs related to future production|-18,290|12,845|-1,342|\n|Extensions, discoveries and improved recovery, less related costs|663|1,816|1,290|\n|Development costs incurred during the period|1,916|1,654|1,251|\n|Changes in estimated future development costs|-1,584|-1,727|-527|\n|Revisions of previous quantity estimates|53|290|1,319|\n|Net changes in purchases and sales of minerals in place|-13|23|30|\n|Accretion of discount|2,796|1,726|1,882|\n|Net change in income taxes|12,805|-6,751|-660|\n|Timing and other|-96|-12|-14|\n|Net change for the year|-8,891|4,977|-2,083|\n|Beginning of the year|13,495|8,518|10,601|\n|End of year|$4,604|$13,495|$8,518|\n|Net change for the year from discontinued operations|$\u2013|$\u2013|$-216|\n", + "our refineries processed 944 mbpd of crude oil and 207 mbpd of other charge and blend stocks.", + "The table below sets forth the location and daily crude oil refining capacity of each of our refineries as of December 31, 2008.", + "|(Thousands of barrels per day)|2008|\n|Garyville, Louisiana|256|\n|Catlettsburg, Kentucky|226|\n|Robinson, Illinois|204|\n|Detroit, Michigan|102|\n|Canton, Ohio|78|\n|Texas City, Texas|76|\n|St. Paul Park, Minnesota|74|\n|TOTAL|1,016|\n", + "Our refineries include crude oil atmospheric and vacuum distillation, fluid catalytic cracking, catalytic reforming, desulfurization and sulfur recovery units.", + "The refineries process a wide variety of crude oils and produce numerous refined products, ranging from transportation fuels, such as reformulated gasolines, blend\u0002grade gasolines intended for blending with fuel ethanol and ultra-low sulfur diesel fuel, to heavy fuel oil and asphalt.", + "Additionally, we manufacture aromatics, cumene, propane, propylene, sulfur and maleic anhydride.", + "Our refineries are integrated with each other via pipelines, terminals and barges to maximize operating efficiency.", + "The transportation links that connect our refineries allow the movement of intermediate products between refineries to optimize operations, produce higher margin products and utilize our processing capacity efficiently.", + "Our Garyville, Louisiana, refinery is located along the Mississippi River in southeastern Louisiana.", + "The Garyville refinery processes heavy sour crude oil into products such as gasoline, distillates, sulfur, asphalt, propane, polymer grade propylene, isobutane and coke.", + "In 2006, we approved an expansion of our Garyville refinery by 180 mbpd to 436 mbpd, with a currently projected cost of $3.35 billion (excluding capitalized interest).", + "Construction commenced in early 2007 and is continuing on schedule.", + "We estimate that, as of December 31, 2008, this project is approximately 75 percent complete.", + "We expect to complete the expansion in late 2009.", + "Our Catlettsburg, Kentucky, refinery is located in northeastern Kentucky on the western bank of the Big Sandy River, near the confluence with the Ohio River.", + "The Catlettsburg refinery processes sweet and sour crude oils into products such as gasoline, asphalt, diesel, jet fuel, petrochemicals, propane, propylene and sulfur.", + "Our Robinson, Illinois, refinery is located in the southeastern Illinois town of Robinson.", + "The Robinson refinery processes sweet and sour crude oils into products such as multiple grades of gasoline, jet fuel, kerosene, diesel fuel, propane, propylene, sulfur and anode-grade coke.", + "Our Detroit, Michigan, refinery is located near Interstate 75 in southwest Detroit.", + "The Detroit refinery processes light sweet and heavy sour crude oils, including Canadian crude oils, into products such as gasoline, diesel, asphalt, slurry, propane, chemical grade propylene and sulfur.", + "In 2007, we approved a heavy oil upgrading and expansion project at our Detroit, Michigan, refinery, with a current projected cost of $2.2 billion (excluding capitalized interest).", + "This project will enable the refinery to process additional heavy sour crude oils, including Canadian bitumen blends, and will increase its crude oil refining capacity by about 15 percent.", + "Construction began in the first half of 2008 and is presently expected to be complete in mid-2012.", + "Our Canton, Ohio, refinery is located approximately 60 miles southeast of Cleveland, Ohio.", + "The Canton refinery processes sweet and sour crude oils into products such as gasoline, diesel fuels, kerosene, propane, sulfur, asphalt, roofing flux, home heating oil and No.6 industrial fuel oil.", + "Our Texas City, Texas, refinery is located on the Texas gulf coast approximately 30 miles south of Houston, Texas.", + "The refinery processes sweet crude oil into products such as gasoline, propane, chemical grade propylene, slurry, sulfur and aromatics.", + "Our St. Paul Park, Minnesota, refinery is located in St. Paul Park, a suburb of Minneapolis-St. Paul.", + "The St. Paul Park refinery processes predominantly Canadian crude oils into products such as gasoline, diesel, jet fuel, kerosene, asphalt, propane, propylene and sulfur.", + "a more complete explanation of our strategies to manage market risk related to commodity prices, see Quantitative and Qualitative Disclosures about Market Risk.", + "We averaged 944 mbpd of crude oil throughput in 2008 and 1,010 mbpd in 2007.", + "Total refinery throughputs averaged 1,151 mbpd in 2008 compared to 1,224 mbpd in 2007.", + "Crude and total throughputs were lower in 2008 than in 2007 in part due to the effect Hurricane Gustav and Ike had on U. S. Gulf Coast operations in 2008.", + "The following table includes certain key operating statistics for the RM&T segment for 2008 and 2007.", + "| RM&T Operating Statistics|2008|2007|\n|Refining and wholesale marketing gross margin(Dollars per gallon)(a)|$0.1166|$0.1848|\n|Refined products sales volumes(Thousands of barrels per day)|1,352|1,410|\n", + "(a) Sales revenue less cost of refinery inputs (including transportation), purchased products and manufacturing expenses, including depreciation.", + "IG segment income increased $170 million, or 129 percent in 2008 from 2007.", + "The increase in income was primarily related to a full year of operation of the LNG production facility in Equatorial Guinea, which commenced operations in May 2007.", + "We hold a 60 percent interest in the facility.", + "Segment expenses increased slightly in 2008 as we continue to develop new technologies.", + "In 2008, we spent $92 million on gas commercialization technologies, including completing construction of a gas-to-fuels demonstration plant.", + "Such expense in 2007 was $42 million.", + "Consolidated Results of Operations: 2007 compared to 2006 Revenues are summarized in the following table" + ], + "question_id": "simplong-test-274", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage increase from 2008 customer satisfaction index to the 2010 customer satisfaction index?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents AAG\u2019s Results of Operations In 2014, we realized operating income of $4.2 billion and net income of $2.9 million.", + "Our 2014 net income included net special operating charges of $824 million and total net special charges of $1.3 billion.", + "Excluding the effects of these special charges, we realized operating income of $5.1 billion and net income of $4.2 billion.", + "We completed the Merger on December 9, 2013.", + "Under GAAP, AAG\u2019s results do not include the financial results of US Airways Group prior to the closing of the Merger.", + "Accordingly, our 2014 period GAAP results are not comparable to the GAAP results for the 2013 or 2012 periods as those periods exclude the results of US Airways Group except for the 23 day post-Merger period from December 9, 2013 to December 31, 2013.", + "When compared to the combined separate company results of AAG and US Airways Group for 2013, our 2014 net income excluding net special charges improved by $2.2 billion.", + "In 2013, on a standalone basis,AAG reported a net loss of $1.6 billion and US Airways Group reported net income of $392 million.", + "Excluding the effects of net special charges, AAG and US Airways Group reported 2013 net income of $1.2 billion and $786 million, respectively.", + "When compared to the combined separate company results ofAAG and US Airways Group for 2012, our 2013 combined net income excluding net special charges improved by $1.5 billion.", + "In 2012, on a standalone basis, AAG reported a net loss of $1.9 billion and US Airways Group reported net income of $637 million.", + "Excluding the effects of net special charges, AAG reported a 2012 net loss of $130 million and US Airways Group reported net income of $537 million.", + "The components of net special items in our accompanying consolidated statements of operations are as follows (in millions):", + "||Year Ended December 31,|\n| 2014|2013|2012|\n|Other revenue special item, net -1|$\u2014|$-31|$\u2014|\n|Mainline operating special items, net -2|800|559|386|\n|Regional operating special items, net|24|8|1|\n|Nonoperating special items, net -3|132|211|-280|\n|Reorganization items, net -4|\u2014|2,655|2,208|\n|Income tax special items, net -5|346|-324|-569|\n|Total|$1,302|$3,078|$1,746|\n", + "(1) In 2013, other revenue special item, net included a credit to other revenues related to a change in accounting method resulting from the modification of AAG\u2019s AAdvantage miles agreement with Citibank.", + "(2) In 2014, mainline operating special items, net included $810 million of Merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, divestiture of London Heathrow Slots, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training.", + "In addition, we recorded a net charge of $81 million for bankruptcy related items principally consisting of fair value adjustments for bankruptcy settlement obligations, $164 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments, as well as $54 million in charges primarily relating to the buyout of certain aircraft leases.", + "These charges were offset in part by a $309 million gain on the sale of Slots at DCA.", + "In 2013, mainline operating special items, net included $443 million of primarily Merger related expenses due to the alignment of labor union contracts, professional fees, severance, share-based compensation and fees for US Airways to exit the Star Alliance and its codeshare agreement with United Airlines.", + "In addition, we recorded a $107 million charge related to American\u2019s pilot long-term disability obligation, a $43 million", + "See table below for a reconciliation of business combination related items:", + "|$ in millions|2017|2016|2015|2014|2013|\n|Business combination related:||||||\n|Employee compensation expense(a)|5.8|7.0|\u2014|\u2014|2.4|\n|Transaction and integration expense(b)|20.6|1.4|2.2|\u2014|5.2|\n|Intangible amortization expense(c)|17.4|13.9|10.6|12.6|15.4|\n|Adjustments to operating income|43.8|22.3|12.8|12.6|23.0|\n|Change in contingent consideration estimates(d)|-7.6|7.4|-27.1|\u2014|\u2014|\n|Foreign exchange gain related to business acquisitions(e)|-12.1|\u2014|\u2014|\u2014|\u2014|\n|Other-than-temporary impairment(f)|\u2014|17.8|\u2014|\u2014|\u2014|\n|Taxation:||||||\n|Taxation on employee compensation expense(a)|-2.1|-2.7|\u2014|\u2014|\u2014|\n|Taxation on transaction and integration(b)|-5.9|-0.5|-0.6|\u2014|-2.1|\n|Taxation on amortization(c)|-1.6|-1.3|-1.5|-1.6|-1.5|\n|Deferred taxation(g)|19.6|19.3|20.1|21.8|21.3|\n|Taxation on change in contingent consideration estimates(d)|2.9|-2.8|10.3|\u2014|\u2014|\n|Taxation on foreign exchange gain related to businessacquisitions(e)|2.3|\u2014|\u2014|\u2014|\u2014|\n|(Income)/loss from discontinued operations, net of taxes(h)|\u2014|\u2014|\u2014|3.4|-64.5|\n|Adjustments to net income attributable to Invesco Ltd.|39.3|59.5|14.0|36.2|-23.8|\n", + "a.", + "Employee compensation expenses oincurred in f $5.8 million 2017 are related to our European ETF acquisition, while $7.0 million ed with the acquisition of Jemstep, a market incurred in 2016 are associat -leading provider of advisor- focused digital solutions.", + "Expenses in 2013 are related to employee severance expenses associated with the cessation of activities from a previous acquisition.", + "b.", + "Transaction and integration expenses reflect the legal, regulatory, advisory, valuation, integration-related employee incentive awards, other professional or consulting fees and general and administrative costs, which includes travel costs related to transactions and the costs of temporary staf involved in executing the transaction, and the post f f -closing costs of integrating the acquired business into the company\u2019s existing operations, including incremental costs associated with achieving synergy savings.", + "c. Intangible amortization expense is associated with intangible assets that are identified from acquisition of a business and are amortized on a straight-line basis over useful lives.", + "See Item 8, Financial Statements and Supplementary Data, Note 5 - \u201cIntangible Assets\u201d for detail.", + "d. During 2015, the company acquired investment management contracts from Deutsche Bank and the purchase price was solely comprised of contingent consideration payable in future periods.", + "Adjustment to the fair value of contingent consideration liability is a an increase o$7.4 millio$27.1 decrease of $7.6 million in 2017, f n in 2016 and a decrease of millioItem 8, Financial Statements and Supplementary Data, Note 2 n in 2015.", + "See - \u201cFair Value of Assets and Liabilities\u201d for detail.", + "e. Other gains and losses for 2017 includes a realized gain of $12.1 million related to revaluation of Euros held in the U. K. in anticipation of payment for the European ETF business acquisition.", + "f. Other-than-temporary impairment includes an impairment charge o$17.8 million hat is related to the f in 2016 t acquisition of Invesco Asset Management (India) Private Limited.", + "g. While finite-lived intangible assets are amortized under U. S. GAAP, there is no amortization charge on goodwill and indefinite-lived intangibles.", + "In certain qualifying situations, these can be amortized for tax purposes, generally over a 15-year period, as is the case in the U. S. These deferred tax liabilities represent tax benefits that are not included in the Consolidated Statements of Income absenan impairment charge or the dispos t al of the related business.", + "The company receives these tax benefits but does not anticipate a sale or ipairment of these assets in the foreseeable future, an", + "Operating/Performance Statistics Railroad performance measures reported to the AAR, as well as other performance measures, are included in the table below:", + "||2010|2009|2008|% Change 2010 v 2009|% Change2009 v 2008|\n|Average train speed (miles per hour)|26.2|27.3|23.5|-4%|16%|\n|Average terminal dwell time (hours)|25.4|24.8|24.9|2%|-|\n|Average rail car inventory (thousands)|274.4|283.1|300.7|-3%|-6%|\n|Gross ton-miles (billions)|932.4|846.5|1,020.4|10%|-17%|\n|Revenue ton-miles (billions)|520.4|479.2|562.6|9%|-15%|\n|Operating ratio|70.6|76.1|77.4|-5.5 pt|-1.3 pt|\n|Employees (average)|42,884|43,531|48,242|-1%|-10%|\n|Customer satisfaction index|89|88|83|1 pt|5 pt|\n", + "Average Train Speed \u2013 Average train speed is calculated by dividing train miles by hours operated on our main lines between terminals.", + "Maintenance activities and weather disruptions, combined with higher volume levels, led to a 4% decrease in average train speed in 2010 compared to a record set in 2009.", + "Overall, we continued operating a fluid and efficient network during the year.", + "Lower volume levels, ongoing network management initiatives, and productivity improvements contributed to a 16% improvement in average train speed in 2009 compared to 2008.", + "Average Terminal Dwell Time \u2013 Average terminal dwell time is the average time that a rail car spends at our terminals.", + "Lower average terminal dwell time improves asset utilization and service.", + "Average terminal dwell time increased 2% in 2010 compared to 2009, driven in part by our network plan to increase the length of numerous trains to improve overall efficiency, which resulted in higher terminal dwell time for some cars.", + "Average terminal dwell time improved slightly in 2009 compared to 2008 due to lower volume levels combined with initiatives to expedite delivering rail cars to our interchange partners and customers.", + "Average Rail Car Inventory \u2013 Average rail car inventory is the daily average number of rail cars on our lines, including rail cars in storage.", + "Lower average rail car inventory reduces congestion in our yards and sidings, which increases train speed, reduces average terminal dwell time, and improves rail car utilization.", + "Average rail car inventory decreased 3% in 2010 compared to 2009, while we handled 13% increases in carloads during the period compared to 2009.", + "We maintained more freight cars off-line and retired a number of old freight cars, which drove the decreases.", + "Average rail car inventory decreased 6% in 2009 compared to 2008 driven by a 16% decrease in volume.", + "In addition, as carloads decreased, we stored more freight cars off-line.", + "Gross and Revenue Ton-Miles \u2013 Gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled.", + "Revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles.", + "Gross and revenue-ton-miles increased 10% and 9% in 2010 compared to 2009 due to a 13% increase in carloads.", + "Commodity mix changes (notably automotive shipments) drove the variance in year-over-year growth between gross ton-miles, revenue ton-miles and carloads.", + "Gross and revenue ton-miles decreased 17% and 15% in 2009 compared to 2008 due to a 16% decrease in carloads.", + "Commodity mix changes (notably automotive shipments, which were 30% lower in 2009 versus 2008) drove the difference in declines between gross ton-miles and revenue ton\u0002miles.", + "Operating Ratio \u2013 Operating ratio is defined as our operating expenses as a percentage of operating revenue.", + "Our operating ratio improved 5.5 points to 70.6% in 2010 and 1.3 points to 76.1% in 2009.", + "Efficiently leveraging volume increases, core pricing gains, and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year.", + "Core pricing gains, lower fuel prices, network management initiatives, and improved productivity drove the improvement in 2009 and more than offset the 16% volume decline.", + "Employees \u2013 Employee levels were down 1% in 2010 compared to 2009 despite a 13% increase in volume levels.", + "We leveraged the additional volumes through network efficiencies and other productivity initiatives.", + "In addition, we successfully managed the growth of our full-time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010.", + "All other operating functions and" + ], + "question_id": "simplong-test-275", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Long-term deposits, what's the sum of Asset-backed secured financings and Commercial paper and other short-term borrowings for Fair Value? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The results from discontinued operations for our former Digital Television business unit were as follows:", + "||2009|2008|\n||(In millions)|\n|Net revenue|$\u2014|$73|\n|Expenses|-3|-147|\n|Impairment of goodwill and acquired intangible assets|\u2014|-609|\n|Restructuring charges|\u2014|-1|\n|Loss from discontinued operations|$-3|$-684|\n", + "Recently Adopted Accounting Standards Noncontrolling Interest.", + "In June 2009, the FASB issued guidance that amends the evaluation criteria to identify the primary beneficiary of a variable interest entity.", + "Additionally, this guidance requires ongoing reassessments of whether an enterprise is the primary beneficiary of the variable interest entity.", + "This guidance became effective for interim and annual reporting periods after November 15, 2009.", + "We adopted this new guidance as of the beginning of 2010, and we applied such guidance in evaluating whether we could deconsolidate GF given the changes in governance over the operations of GF that occurred effective December 28, 2009.", + "See Note 3 of Notes to Consolidated Financial Statements for additional information.", + "ITEM 7A.", + "QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Interest Rate Risk.", + "Our exposure to market risk for changes in interest rates relates primarily to our investment portfolio and long-term debt.", + "We usually invest our cash in investments with short maturities or with frequent interest reset terms.", + "Accordingly, our interest income fluctuates with short-term market conditions.", + "As of December 25, 2010, our investment portfolio consisted primarily of time deposits, money market funds, commercial paper and ARS.", + "With the exception of our ARS, these investments were highly liquid.", + "Due to the short-term nature of our investment portfolio and the current low interest rate environment, our exposure to interest rate risk is minimal.", + "As of December 25, 2010, all of our outstanding debt is fixed interest rate debt.", + "Consequently, our exposure to market risk for changes in interest rates on reported interest expense and corresponding cash flows is minimal.", + "We will continue to monitor our exposure to interest rate risk.", + "Default Risk.", + "We mitigate default risk in our investment portfolio by investing in only the highest credit quality securities and by constantly positioning our portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor.", + "Our portfolio includes investments in debt and marketable equity securities with active secondary or resale markets to ensure portfolio liquidity.", + "We are averse to principal loss and strive to preserve our invested funds by limiting default risk and market risk.", + "We actively monitor market conditions and developments specific to the securities and security classes in which we invest.", + "We believe that we take a conservative approach to investing our funds in that we invest only in highly-rated debt securities with relatively short maturities and do not invest in securities we believe involve a higher degree of risk.", + "As of December 25, 2010, substantially all of our investments in debt securities were AAA rated by at least one of the rating agencies.", + "While we believe we take prudent measures to mitigate investment related risks, such risks cannot be fully eliminated as there are circumstances outside of our control.", + "We believe the current credit market difficulties do not have a material impact on our financial position.", + "However, a future degradation in credit market conditions could have a material adverse effect on our financial position.", + "As a result of the uncertainties in the credit markets, all of our ARS were negatively affected and auctions for these securities failed to settle on their respective settlement dates.", + "As of December 25, 2010, we had", + "The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets or liabilities accounted for under the fair value option at December 31, 2010 and 2009.", + "||December 31|\n||2010|2009|\n||||Fair Value|||Fair Value|\n||||Carrying|||Carrying|\n|| Fair Value | Contractual |Amount|Fair Value |Contractual |Amount|\n|| Carrying | Principal |Less Unpaid|Carrying |Principal |Less Unpaid|\n|(Dollars in millions)| Amount| Outstanding|Principal|Amount|Outstanding|Principal|\n|Corporate loans and loan commitments-1|$4,135|$3,638|$497|$5,865|$5,460|$405|\n|Loansheld-for-sale|25,942|28,370|-2,428|32,795|36,522|-3,727|\n|Securities financing agreements|116,023|115,053|970|95,100|94,641|459|\n|Other assets|310|n/a|n/a|253|n/a|n/a|\n|Long-term deposits|2,732|2,692|40|1,663|1,605|58|\n|Asset-backed secured financings|706|1,356|-650|707|1,451|-744|\n|Commercial paper and other short-term borrowings|6,472|6,472|\u2013|813|813|\u2013|\n|Long-term debt|50,984|54,656|-3,672|45,451|48,560|-3,109|\n", + "(1) Includes unfunded loan commitments with an aggregate fair value of $866 million and $950 million and aggregated committed exposure of $27.3 billion and $27.0 billion at December 31, 2010 and 2009, respectively.", + "n/a = not applicable The tables below provide information about where changes in the fair value of assets or liabilities accounted for under the fair value option are included in the Consolidated Statement of Income for 2010, 2009 and 2008.", + "Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option", + "||2010|\n|(Dollars in millions)|Trading Account Profits (Losses)|Mortgage Banking Income (Loss)|Equity Investment Income (Loss)|Other Income (Loss)|Total|\n|Corporate loans and loan commitments|$2|$\u2013|$\u2013|$105|$107|\n|Loansheld-for-sale|\u2013|9,091|\u2013|493|9,584|\n|Securities financing agreements|\u2013|\u2013|\u2013|52|52|\n|Other assets|\u2013|\u2013|\u2013|107|107|\n|Long-term deposits|\u2013|\u2013|\u2013|-48|-48|\n|Asset-backed secured financings|\u2013|-95|\u2013|\u2013|-95|\n|Commercial paper and other short-term borrowings|-192|\u2013|\u2013|\u2013|-192|\n|Long-term debt|-625|\u2013|\u2013|22|-603|\n| Total|$-815|$8,996|$\u2013|$731|$8,912|\n||2009|\n|Corporate loans and loan commitments|$25|$\u2013|$\u2013|$1,886|$1,911|\n|Loansheld-for-sale|-211|8,251|\u2013|588|8,628|\n|Securities financing agreements|\u2013|\u2013|\u2013|-292|-292|\n|Other assets|379|\u2013|-177|\u2013|202|\n|Long-term deposits|\u2013|\u2013|\u2013|35|35|\n|Asset-backed secured financings|\u2013|-11|\u2013|\u2013|-11|\n|Commercial paper and other short-term borrowings|-236|\u2013|\u2013|\u2013|-236|\n|Long-term debt|-3,938|\u2013|\u2013|-4,900|-8,838|\n|Total|$-3,981|$8,240|$-177|$-2,683|$1,399|\n||2008|\n|Corporate loans and loan commitments|$4|$\u2013|$\u2013|$-1,248|$-1,244|\n|Loansheld-for-sale|-680|281|\u2013|-215|-614|\n|Securities financing agreements|\u2013|\u2013|\u2013|-18|-18|\n|Long-term deposits|\u2013|\u2013|\u2013|-10|-10|\n|Asset-backed secured financings|\u2013|295|\u2013|\u2013|295|\n|Total|$-676|$576|$\u2013|$-1,491|$-1,591|\n", + "Notes to the Consolidated Financial Statements 1.", + "Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of PPG Industries, Inc. (\u201cPPG\u201d or the \u201cCompany\u201d) and all subsidiaries, both U. S. and non-U.", + "S. , that it controls.", + "PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls.", + "For those consolidated subsidiaries in which the Company\u2019s ownership is less than 100%, the outside shareholders\u2019 interests are shown as noncontrolling interests.", + "Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting.", + "As a result, PPG\u2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and PPG\u2019s share of these companies\u2019 shareholders\u2019 equity is included in \"Investments\" in the accompanying consolidated balance sheet.", + "Transactions between PPG and its subsidiaries are eliminated in consolidation.", + "Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period.", + "Such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated.", + "Actual outcomes could differ from those estimates.", + "Revenue Recognition The Company recognizes revenue when the earnings process is complete.", + "Revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered.", + "Shipping and Handling Costs Amounts billed to customers for shipping and handling are reported in \u201cNet sales\u201d in the accompanying consolidated statement of income.", + "Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in \u201cCost of sales, exclusive of depreciation and amortization\u201d in the accompanying consolidated statement of income.", + "Selling, General and Administrative Costs Amounts presented as \u201cSelling, general and administrative\u201d in the accompanying consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate\u0002wide functional support in such areas as finance, law, human resources and planning.", + "Distribution costs pertain to the movement and storage of finished goods inventory at company\u0002 owned and leased warehouses, terminals and other distribution facilities.", + "Advertising Costs Advertising costs are expensed in the year incurred and totaled $345 million, $288 million and $245 million in 2013, 2012 and 2011, respectively.", + "Research and Development Research and development costs, which consist primarily of employee related costs, are charged to expense as incurred.", + "The following are the research and development costs for the years ended December 31:", + "|(Millions)|2013|2012|2011|\n|Research and development \u2013 total|$505|$468|$443|\n|Less depreciation on research facilities|17|15|15|\n|Research and development, net|$488|$453|$428|\n", + "Legal Costs Legal costs are expensed as incurred.", + "Legal costs incurred by PPG include legal costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes.", + "Foreign Currency Translation The functional currency of most significant non-U.", + "S. operations is their local currency.", + "Assets and liabilities of those operations are translated into U. S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period.", + "Unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders\u2019 equity.", + "Cash Equivalents Cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less.", + "Short-term Investments Short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to one year.", + "The purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows.", + "Marketable Equity Securities The Company\u2019s investment in marketable equity securities is recorded at fair market value and reported in \u201cOther current assets\u201d and \u201cInvestments\u201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income, net of tax, for those designated as available for sale securities.", + "The following table indicates the percentage of net sales represented by each of our major product categories during fiscal 2017 and 2016:" + ], + "question_id": "simplong-test-276", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Payments due by period 2019 for long-term debt obligations?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-28 This transaction was accounted for as a business combination using purchase price accounting.", + "The allocation of the purchase consideration is in the table below.", + "||Purchase Price Allocation (In thousands)|\n|Cash|$107,061|\n|Current assets|153,258|\n|Property and equipment|28,663|\n|Acquisition intangibles|17,826|\n|Other noncurrent assets|12,856|\n|Current liabilities|-86,080|\n|Total purchase price|$233,584|\n", + "The pro forma revenue and earnings associated with the Blockbuster Acquisition are not included in this filing.", + "Due to the material ongoing modifications of the business, management has determined that insufficient information exists to accurately develop meaningful historical pro forma financial information.", + "Moreover, the historical operations of Blockbuster materially changed during the periods preceding the acquisition as a result of Blockbuster Inc. \u2019s bankruptcy proceedings, and any historical pro forma information would not prove useful in assessing our post acquisition earnings and cash flows.", + "The cost of goods sold on a unit basis for Blockbuster in the current period was lower-than-historical costs.", + "The carrying values in the current period of the rental library and merchandise inventories (\u201cBlockbuster Inventory\u201d) were reduced to their estimated fair value due to the application of purchase accounting.", + "This impact on cost of goods sold on a unit basis will diminish in the future as we purchase new Blockbuster Inventory.10.", + "Spectrum Investments TerreStar Transaction Gamma Acquisition L. L. C. (\u201cGamma\u201d), a wholly-owned subsidiary of DISH Network, entered into the TerreStar Transaction on June 14, 2011.", + "On July 7, 2011, the U. S. Bankruptcy Court for the Southern District of New York approved the asset purchase agreement with TerreStar and we subsequently paid $1.345 billion of the cash purchase price.", + "DISH Network is a party to the asset purchase agreement solely with respect to certain guaranty obligations.", + "We have paid all but $30 million of the purchase price for the TerreStar Transaction, which will be paid upon closing of the TerreStar Transaction, or upon certain other conditions being met under the asset purchase agreement.", + "Consummation of the acquisition contemplated in the asset purchase agreement is subject to, among other things, approval by the FCC.", + "On February 7, 2012, the Canadian federal Department of Industry (\u201cIndustry Canada\u201d) approved the transfer of the Canadian spectrum licenses held by TerreStar to us.", + "If the remaining required approvals are not obtained, subject to certain exceptions, we have the right to require and direct the sale of some or all of the TerreStar assets to a third party and we would be entitled to the proceeds from such a sale.", + "These proceeds could, however, be substantially less than amounts we have paid in the TerreStar Transaction.", + "Additionally, Gamma is responsible for providing certain working capital and certain administrative expenses of TerreStar and certain of its subsidiaries after December 31, 2011.", + "We expect that the TerreStar Transaction will be accounted for as a business combination using purchase price accounting.", + "We also expect to allocate the purchase price to the various components of the acquisition based upon the fair value of each component using various valuation techniques, including the market approach, income approach and/or cost approach.", + "We expect the purchase price of the TerreStar assets to be allocated to, among other things, spectrum and satellites.", + "DISH NETWORK CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued F-41 During December 2009, we paid a dividend in cash of $2.00 per share on our outstanding Class A and Class B common stock to shareholders of record on November 20, 2009.", + "In light of such dividend, during February 2010, the exercise price of 20.6 million stock options, affecting approximately 700 employees, was reduced by $2.00 per share (the \u201c2009 Stock Option Adjustment\u201d).", + "Except as noted below, all information discussed below reflects the 2009 Stock Option Adjustment.", + "On January 1, 2008, we completed the distribution of our technology and set-top box business and certain infrastructure assets (the \u201cSpin-off\u201d) into a separate publicly-traded company, EchoStar Corporation (\u201cEchoStar\u201d).", + "DISH Network and EchoStar operate as separate publicly-traded companies, and neither entity has any ownership interest in the other.", + "However, a substantial majority of the voting power of the shares of both companies is owned beneficially by Charles W. Ergen, our Chairman, or by certain trusts established by Mr. Ergen for the benefit of his family.", + "In connection with the Spin-off, as permitted by our existing stock incentive plans and consistent with the Spin-off exchange ratio, each DISH Network stock option was converted into two stock options as follows: x an adjusted DISH Network stock option for the same number of shares that were exercisable under the original DISH Network stock option, with an exercise price equal to the exercise price of the original DISH Network stock option multiplied by 0.831219. x a new EchoStar stock option for one-fifth of the number of shares that were exercisable under the original DISH Network stock option, with an exercise price equal to the exercise price of the original DISH Network stock option multiplied by 0.843907.", + "Similarly, each holder of DISH Network restricted stock units retained his or her DISH Network restricted stock units and received one EchoStar restricted stock unit for every five DISH Network restricted stock units that they held.", + "Consequently, the fair value of the DISH Network stock award and the new EchoStar stock award immediately following the Spin-off was equivalent to the fair value of such stock award immediately prior to the Spin-off.", + "As of December 31, 2011, the following stock awards were outstanding:", + "| | As of December 31, 2011|\n| | DISH Network Awards| EchoStar Awards|\n| Stock Awards Outstanding| Stock Options| Restricted Stock Units| Stock Options| Restricted Stock Units|\n|Held by DISH Network employees|18,630,441|1,189,709|762,094|54,286|\n|Held by EchoStar employees|2,705,718|94,999|N/A|N/A|\n|Total|21,336,159|1,284,708|762,094|54,286|\n", + "We are responsible for fulfilling all stock awards related to DISH Network common stock and EchoStar is responsible for fulfilling all stock awards related to EchoStar common stock, regardless of whether such stock awards are held by our or EchoStar\u2019s employees.", + "Notwithstanding the foregoing, our stock-based compensation expense, resulting from stock awards outstanding at the Spin-off date, is based on the stock awards held by our employees regardless of whether such stock awards were issued by DISH Network or EchoStar.", + "Accordingly, stock-based compensation that we expense with respect to EchoStar stock awards is included in \u201cAdditional paid-in capital\u201d on our Consolidated Balance Sheets.", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 62 62 Earnings before interest, taxes, depreciation and amortization.", + "EBITDA was $2.956 billion during the year ended December 31, 2010, an increase of $644 million or 27.9% compared to the same period in 2009.", + "The following table reconciles EBITDA to the accompanying financial statements.", + "| |For the Years Ended December 31,|\n| |2010|2009|\n| |(In thousands)|\n|EBITDA|$2,955,786|$2,311,398|\n|Interest expense, net|-429,619|-358,391|\n|Income tax (provision) benefit, net|-557,473|-377,429|\n|Depreciation and amortization|-983,965|-940,033|\n|Net income (loss) attributable to DISH Network|$984,729|$635,545|\n", + "EBITDA is not a measure determined in accordance with GAAP, and should not be considered a substitute for operating income, net income or any other measure determined in accordance with GAAP.", + "EBITDA is used as a measurement of operating efficiency and overall financial performance and we believe it to be a helpful measure for those evaluating companies in the pay-TV industry.", + "Conceptually, EBITDA measures the amount of income generated each period that could be used to service debt, pay taxes and fund capital expenditures.", + "EBITDA should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.", + "Income tax (provision) benefit, net.", + "Our income tax provision was $557 million during the year ended December 31, 2010, an increase of $180 million compared to the same period in 2009.", + "The increase in the provision was primarily related to the increase in \u201cIncome (loss) before income taxes.", + "\u201d Net income (loss) attributable to DISH Network.", + "\u201cNet income (loss) attributable to DISH Network\u201d was $985 million during the year ended December 31, 2010, an increase of $349 million compared to $636 million for the same period in 2009.", + "The increase was primarily attributable to the changes in revenue and expenses discussed above.", + "LIQUIDITY AND CAPITAL RESOURCES Cash, Cash Equivalents and Current Marketable Investment Securities We consider all liquid investments purchased within 90 days of their maturity to be cash equivalents.", + "See \u201cItem 7A.", + "\u2013 Quantitative and Qualitative Disclosures About Market Risk\u201d for further discussion regarding our marketable investment securities.", + "As of December 31, 2011, our cash, cash equivalents and current marketable investment securities totaled $2.041 billion compared to $2.940 billion as of December 31, 2010, a decrease of $899 million.", + "This decrease in cash, cash equivalents and current marketable investment securities was primarily related to our investment in DBSD North America of $1.139 billion, the TerreStar Transaction of $1.345 billion, repurchases and redemptions of our 6 3/8% Senior Notes due 2011 totaling $1.0 billion, the $893 million dividend paid in cash on our Class A and Class B common stock, capital expenditures of $779 million, the Blockbuster Acquisition of $127 million, net of $107 million cash received, and the Sprint Settlement Agreement net payment of approximately $114 million, which were partially offset by cash generated from operations of $2.574 billion and the net proceeds of $1.973 billion related to the issuance of our 6 3/4% Senior Notes due 2021.", + "We have investments in various debt and equity instruments including corporate bonds, corporate equity securities, government bonds and variable rate demand notes (\u201cVRDNs\u201d).", + "VRDNs are long-term floating rate municipal bonds with embedded put options that allow the bondholder to sell the security at par plus accrued interest.", + "All of the put options are secured by a pledged liquidity source.", + "Our VRDN portfolio is comprised of investments in many municipalities, which are backed by financial institutions or other highly rated companies that serve as the pledged liquidity source.", + "While they are classified as marketable investment securities, the put option allows VRDNs to be liquidated generally on a same day or on a five business day settlement basis.", + "As of December 31, 2011 and 2010, we held VRDNs, within our current marketable investment securities portfolio, with fair values of $161 million and $1.334 billion, respectively.", + "Obligations and Future Capital Requirements Contractual Obligations and Off-Balance Sheet Arrangements As of December 31, 2015, future maturities of our long-term debt, capital lease and contractual obligations are summarized as follows:", + "||Payments due by period|\n||Total|2016|2017|2018|2019|2020|Thereafter|\n||(In thousands)|\n|Long-term debt obligations|$13,630,996|$1,503,151|$903,170|$1,203,235|$1,403,305|$1,103,379|$7,514,756|\n|Capital lease obligations|166,492|30,849|32,994|36,175|19,503|19,137|27,834|\n|Interest expense on long-term debt and capital lease obligations|4,206,125|772,289|716,328|646,445|618,716|479,170|973,177|\n|Satellite-related obligations|1,960,083|411,734|336,526|327,197|301,102|241,371|342,153|\n|Operating lease obligations|178,918|52,305|32,960|22,563|15,623|10,040|45,427|\n|Purchase obligations|2,325,567|1,768,934|248,443|165,584|115,814|11,892|14,900|\n|Total|$22,468,181|$4,539,262|$2,270,421|$2,401,199|$2,474,063|$1,864,989|$8,918,247|\n", + "In certain circumstances the dates on which we are obligated to make these payments could be delayed.", + "These amounts will increase to the extent that we procure launch and/or in-orbit insurance on our satellites or contract for the construction, launch or lease of additional satellites.", + "The table above does not include $336 million of liabilities associated with unrecognized tax benefits that were accrued, as discussed in Note 11 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K, and are included on our Consolidated Balance Sheets as of December 31, 2015.", + "We do not expect any portion of this amount to be paid or settled within the next twelve months.", + "Other than the \u201cGuarantees\u201d disclosed in Note 15 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K, we generally do not engage in off-balance sheet financing activities.", + "Satellite Insurance We generally do not carry commercial launch or in-orbit insurance on any of the satellites that we use, other than certain satellites leased from third parties.", + "We generally do not use commercial insurance to mitigate the potential financial impact of launch or in-orbit failures because we believe that the cost of insurance premiums is uneconomical relative to the risk of such failures.", + "In light of current favorable market conditions, during January 2016, we procured commercial launch and in-orbit insurance (for a period of one year following launch) for the EchoStar XVIII satellite, which is expected to launch during the second quarter 2016.", + "We lease substantially all of our satellite capacity from third parties, including the vast majority of our transponder capacity from EchoStar, and we do not carry commercial insurance on any of the satellites that we lease from them.", + "While we generally have had in-orbit satellite capacity sufficient to transmit our existing channels and some backup capacity to recover the transmission of certain critical programming, our backup capacity is limited.", + "In the event of a failure or loss of any of our satellites, we may need to acquire or lease additional satellite capacity or relocate one of our other satellites and use it as a replacement for the failed or lost satellite.", + "Purchase Obligations Our 2016 purchase obligations primarily consist of binding purchase orders for receiver systems and related equipment, broadband equipment, digital broadcast operations, transmission costs, engineering services, and other products and services related to the operation of our Pay-TV services and broadband service.", + "Our purchase obligations also include certain fixed contractual commitments to purchase programming content.", + "Our purchase obligations can fluctuate significantly from period to period due to, among other things, management\u2019s timing of payments and inventory purchases, and can materially impact our future operating asset and liability balances, and our future working capital requirements." + ], + "question_id": "simplong-test-277", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the current growth rate of Purchase of minerals in-place? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The Company recognizes over the requisite service period the fair value cost determined at the grant date based on numerous assumptions, including an estimate of the likelihood that Apache\u2019s stock price will achieve these thresholds and the expected forfeiture rate.", + "If a price target is not met before the end of the stated achievement period, any unamortized expense must be immediately recognized.", + "Since the $162 interim price target of the 2008 Share Appreciation Program was not met prior to the stated achievement period, on December 31, 2010, Apache recognized $27 million of unamortized expense and $14 million of unamortized capital costs.", + "The Company will recognize total expense and capitalized costs for the 2008 Share Appreciation Program of approximately $188 million through 2014.", + "As of March 2011, the Company had recognized $79 million of total expense and capitalized costs for the 2005 Share Appreciation Program and had no unamortized costs remaining.", + "A summary of the amounts recognized as expense and capitalized costs for each plan are detailed in the table below:", + "|| For the Year Ended December 31,|\n|| 2011| 2010| 2009|\n|| (In millions)|\n| 2008 Share Appreciation Program||||\n|Compensation expense|$8|$49|$23|\n|Compensation expense, net of tax|5|31|15|\n|Capitalized costs|5|27|13|\n| 2005 Share Appreciation Plan||||\n|Compensation expense|$1|$6|$6|\n|Compensation expense, net of tax|1|4|4|\n|Capitalized costs|1|3|3|\n", + "Preferred Stock The Company has 10,000,000 shares of no par preferred stock authorized, of which 25,000 shares have been designated as Series A Junior Participating Preferred Stock (the Series A Preferred Stock) and 1.265 million shares as 6.00-percent Mandatory Convertible Preferred Stock, Series D (the Series D Preferred Stock).", + "The Company redeemed the 100,000 outstanding shares of its 5.68 percent Series B Cumulative Preferred Stock (the Series B Preferred Stock) on December 30, 2009.", + "Series A Preferred Stock In December 1995, the Company declared a dividend of one right (a Right) for each 2.31 shares (adjusted for subsequent stock dividends and a two-for-one stock split) of Apache common stock outstanding on January 31, 1996.", + "Each full Right entitles the registered holder to purchase from the Company one ten-thousandth (1/10,000) of a share of Series A Preferred Stock at a price of $100 per one ten-thousandth of a share, subject to adjustment.", + "The Rights are exercisable 10 calendar days following a public announcement that certain persons or groups have acquired 20 percent or more of the outstanding shares of Apache common stock or 10 business days following commencement of an offer for 30 percent or more of the outstanding shares of Apache\u2019s outstanding common stock (flip in event); each Right will become exercisable for shares of Apache\u2019s common stock at 50 percent of the then-market price of the common stock.", + "If a 20-percent shareholder of Apache acquires Apache, by merger or otherwise, in a transaction where Apache does not survive or in which Apache\u2019s common stock is changed or exchanged (flip over event), the Rights become exercisable for shares of the common stock of the Company acquiring Apache at 50 percent of the then-market price for Apache common stock.", + "Any Rights that are or were beneficially owned by a person who has acquired 20 percent or more of the outstanding shares of Apache common stock and who engages in certain transactions or realizes the benefits of", + "Shareholder Information Stock Data", + "|| Price Range| Dividends per Share|\n|| High| Low| Declared| Paid|\n|2011|||||\n|First Quarter|$132.50|$110.29|$0.15|$0.15|\n|Second Quarter|134.13|114.94|0.15|0.15|\n|Third Quarter|129.26|80.05|0.15|0.15|\n|Fourth Quarter|105.64|73.04|0.15|0.15|\n|2010|||||\n|First Quarter|$108.92|$95.15|$0.15|$0.15|\n|Second Quarter|111.00|83.55|0.15|0.15|\n|Third Quarter|99.09|81.94|0.15|0.15|\n|Fourth Quarter|120.80|96.51|0.15|0.15|\n", + "The Company has paid cash dividends on its common stock for 47 consecutive years through December 31, 2011.", + "Future dividend payments will depend upon the Company\u2019s level of earnings, financial requirements and other relevant factors.", + "Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ National Market (symbol APA).", + "At December 31, 2011, the Company\u2019s shares of common stock outstanding were held by approximately 5,600 shareholders of record and 444,000 beneficial owners.", + "Also listed on the New York Stock Exchange are: ?", + "Apache Depositary Shares (symbol APA/PD), each representing a 1/20th interest in Apache\u2019s 6% Mandatory Convertible Preferred Stock, Series D ?", + "Apache Finance Canada\u2019s 7.75% notes, due 2029 (symbol APA/29) Corporate Offices One Post Oak Central 2000 Post Oak Boulevard Suite 100 Houston, Texas 77056-4400 (713) 296-6000 Independent Public Accountants Ernst & Young LLP Five Houston Center 1401 McKinney Street, Suite 1200 Houston, Texas 77010-2007 Stock Transfer Agent and Registrar Wells Fargo Bank, N. A. Attn: Shareowner Services P. O.", + "Box 64854 South St. Paul, Minnesota 55164-0854 (651) 450-4064 or (800) 468-9716 Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings, or change of address should be directed to the stock transfer agent.", + "Shareholders can access account information on the web site: www.", + "shareowneronline.", + "com Dividend Reinvestment Plan Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price.", + "Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service.", + "All bank service fees and brokerage commissions on purchases are paid by Apache.", + "A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Direct Registration Shareholders of record may hold their shares of Apache common stock in book-entry form.", + "This eliminates costs related to safekeeping or replacing paper stock certificates.", + "In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company\u2019s stock transfer agent and your broker.", + "Stock certificates may be converted to book-entry shares at any time.", + "Questions regarding this service may be directed to the Company\u2019s stock transfer agent, Wells Fargo Bank, N. A.", + "Annual Meeting Apache will hold its annual meeting of shareholders on Thursday, May 24, 2012, at 10:00 a. m. in the Ballroom, Hilton Houston Post Oak, 2001 Post Oak Boulevard, Houston, Texas.", + "Apache plans to web cast the annual meeting live; connect through the Apache web site: www.", + "apachecorp.", + "com Stock Held in \u201cStreet Name\u201d The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis.", + "Shareholders wanting to be added to this list should direct their requests to Apache\u2019s Public and International Affairs Department, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400, by calling (713) 296-6157 or by registering on Apache\u2019s web site: www.", + "apachecorp.", + "com Form 10-K Request Shareholders and other persons interested in obtaining, without cost, a copy of the Company\u2019s Form 10-K filed with the Securities and Exchange Commission may do so by writing to Cheri L. Peper, Corporate Secretary, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400.", + "Investor Relations Shareholders, brokers, securities analysts, or portfolio managers seeking information about the Company are welcome to contact Patrick Cassidy, Investor Relations Director, at (713) 296-6100.", + "Members of the news media and others seeking information about the Company should contact Apache\u2019s Public and International Affairs Department at (713) 296-7276.", + "Web site: www.", + "apachecorp.", + "com", + "APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures.", + "The reserve data in the following tables only represent estimates and should not be construed as being exact.", + "||Crude Oil and Condensate (Thousands of barrels)|\n||United States|Canada|Egypt-1|Australia|North Sea|Argentina|Total-1|\n| Proved developed reserves:||||||||\n|December 31, 2010|422,737|90,292|109,657|48,072|115,705|16,583|803,046|\n|December 31, 2011|428,251|81,846|105,840|35,725|136,990|16,001|804,653|\n|December 31, 2012|474,837|79,695|106,746|29,053|119,635|15,845|825,811|\n|December 31, 2013|457,981|80,526|119,242|22,524|100,327|14,195|794,795|\n| Proved undeveloped reserves:||||||||\n|December 31, 2010|214,117|56,855|17,470|18,064|38,663|4,062|349,231|\n|December 31, 2011|205,763|59,746|22,195|32,220|32,415|4,585|356,924|\n|December 31, 2012|203,068|70,650|17,288|34,808|28,019|2,981|356,814|\n|December 31, 2013|195,835|56,366|16,302|36,703|29,253|2,231|336,690|\n| Total proved reserves:||||||||\n|Balance December 31, 2010|636,855|147,146|127,127|66,136|154,368|20,645|1,152,277|\n|Extensions, discoveries and other additions|45,676|16,712|45,021|15,762|332|3,230|126,733|\n|Purchase of minerals in-place|5,097|705|\u2014|\u2014|34,612|\u2014|40,414|\n|Revisions of previous estimates|-8,904|-17,117|-6,185|\u2014|\u2014|215|-31,991|\n|Production|-43,587|-5,202|-37,928|-13,953|-19,907|-3,503|-124,080|\n|Sale of properties|-1,123|-653|\u2014|\u2014|\u2014|\u2014|-1,776|\n|Balance December 31, 2011|634,014|141,591|128,035|67,945|169,405|20,587|1,161,577|\n|Extensions, discoveries and other additions|84,656|18,935|36,188|6,277|346|1,133|147,535|\n|Purchase of minerals in-place|15,942|188|\u2014|276|2,143|\u2014|18,549|\n|Revisions of previous estimates|-7,474|-4,577|-3,678|-66|-928|671|-16,052|\n|Production|-49,089|-5,792|-36,511|-10,571|-23,312|-3,565|-128,840|\n|Sale of properties|-144|\u2014|\u2014|\u2014|\u2014|\u2014|-144|\n|Balance December 31, 2012|677,905|150,345|124,034|63,861|147,654|18,826|1,182,625|\n|Extensions, discoveries and other additions|133,227|10,177|43,738|2,539|1,543|998|192,222|\n|Purchase of minerals in-place|85|\u2014|5|\u2014|3,623|\u2014|3,713|\n|Revisions of previous estimates|1,683|-531|457|-118|18|24|1,533|\n|Production|-53,621|-6,469|-32,690|-7,055|-23,258|-3,422|-126,515|\n|Sale of properties|-105,463|-16,630|\u2014|\u2014|\u2014|\u2014|-122,093|\n|Balance December 31, 2013|653,816|136,892|135,544|59,227|129,580|16,426|1,131,485|\n", + "(1) 2013 includes proved reserves of 45 MMbbls as of December 31, 2013 attributable to a noncontrolling interest in Egypt.", + "until the hedged transaction is recognized in earnings.", + "Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.", + "The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2012 and 2011 was $1.3 billion and $1.7 billion.", + "The aggregate notional amount of our outstanding interest rate swaps at December 31, 2012 and 2011 was $503 million and $450 million.", + "Derivative instruments did not have a material impact on net earnings and comprehensive income during 2012, 2011, and 2010.", + "Substantially all of our derivatives are designated for hedge accounting.", + "See Note 15 for more information on the fair value measurements related to our derivative instruments.", + "Stock-based compensation \u2013 Compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award.", + "We generally recognize the compensation cost ratably over a three-year vesting period.", + "Income taxes \u2013 We periodically assess our tax filing exposures related to periods that are open to examination.", + "Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS).", + "If we cannot reach a more-likely-than-not determination, no benefit is recorded.", + "If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled.", + "We record interest and penalties related to income taxes as a component of income tax expense on our Statements of Earnings.", + "Interest and penalties are not material.", + "Accumulated other comprehensive loss \u2013 Changes in the balance of accumulated other comprehensive loss, net of income taxes, consisted of the following (in millions):" + ], + "question_id": "simplong-test-278", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratioof Fair Value of Corporate loans and loan commitments to the total in 2010?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The results from discontinued operations for our former Digital Television business unit were as follows:", + "||2009|2008|\n||(In millions)|\n|Net revenue|$\u2014|$73|\n|Expenses|-3|-147|\n|Impairment of goodwill and acquired intangible assets|\u2014|-609|\n|Restructuring charges|\u2014|-1|\n|Loss from discontinued operations|$-3|$-684|\n", + "Recently Adopted Accounting Standards Noncontrolling Interest.", + "In June 2009, the FASB issued guidance that amends the evaluation criteria to identify the primary beneficiary of a variable interest entity.", + "Additionally, this guidance requires ongoing reassessments of whether an enterprise is the primary beneficiary of the variable interest entity.", + "This guidance became effective for interim and annual reporting periods after November 15, 2009.", + "We adopted this new guidance as of the beginning of 2010, and we applied such guidance in evaluating whether we could deconsolidate GF given the changes in governance over the operations of GF that occurred effective December 28, 2009.", + "See Note 3 of Notes to Consolidated Financial Statements for additional information.", + "ITEM 7A.", + "QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Interest Rate Risk.", + "Our exposure to market risk for changes in interest rates relates primarily to our investment portfolio and long-term debt.", + "We usually invest our cash in investments with short maturities or with frequent interest reset terms.", + "Accordingly, our interest income fluctuates with short-term market conditions.", + "As of December 25, 2010, our investment portfolio consisted primarily of time deposits, money market funds, commercial paper and ARS.", + "With the exception of our ARS, these investments were highly liquid.", + "Due to the short-term nature of our investment portfolio and the current low interest rate environment, our exposure to interest rate risk is minimal.", + "As of December 25, 2010, all of our outstanding debt is fixed interest rate debt.", + "Consequently, our exposure to market risk for changes in interest rates on reported interest expense and corresponding cash flows is minimal.", + "We will continue to monitor our exposure to interest rate risk.", + "Default Risk.", + "We mitigate default risk in our investment portfolio by investing in only the highest credit quality securities and by constantly positioning our portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor.", + "Our portfolio includes investments in debt and marketable equity securities with active secondary or resale markets to ensure portfolio liquidity.", + "We are averse to principal loss and strive to preserve our invested funds by limiting default risk and market risk.", + "We actively monitor market conditions and developments specific to the securities and security classes in which we invest.", + "We believe that we take a conservative approach to investing our funds in that we invest only in highly-rated debt securities with relatively short maturities and do not invest in securities we believe involve a higher degree of risk.", + "As of December 25, 2010, substantially all of our investments in debt securities were AAA rated by at least one of the rating agencies.", + "While we believe we take prudent measures to mitigate investment related risks, such risks cannot be fully eliminated as there are circumstances outside of our control.", + "We believe the current credit market difficulties do not have a material impact on our financial position.", + "However, a future degradation in credit market conditions could have a material adverse effect on our financial position.", + "As a result of the uncertainties in the credit markets, all of our ARS were negatively affected and auctions for these securities failed to settle on their respective settlement dates.", + "As of December 25, 2010, we had", + "The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets or liabilities accounted for under the fair value option at December 31, 2010 and 2009.", + "||December 31|\n||2010|2009|\n||||Fair Value|||Fair Value|\n||||Carrying|||Carrying|\n|| Fair Value | Contractual |Amount|Fair Value |Contractual |Amount|\n|| Carrying | Principal |Less Unpaid|Carrying |Principal |Less Unpaid|\n|(Dollars in millions)| Amount| Outstanding|Principal|Amount|Outstanding|Principal|\n|Corporate loans and loan commitments-1|$4,135|$3,638|$497|$5,865|$5,460|$405|\n|Loansheld-for-sale|25,942|28,370|-2,428|32,795|36,522|-3,727|\n|Securities financing agreements|116,023|115,053|970|95,100|94,641|459|\n|Other assets|310|n/a|n/a|253|n/a|n/a|\n|Long-term deposits|2,732|2,692|40|1,663|1,605|58|\n|Asset-backed secured financings|706|1,356|-650|707|1,451|-744|\n|Commercial paper and other short-term borrowings|6,472|6,472|\u2013|813|813|\u2013|\n|Long-term debt|50,984|54,656|-3,672|45,451|48,560|-3,109|\n", + "(1) Includes unfunded loan commitments with an aggregate fair value of $866 million and $950 million and aggregated committed exposure of $27.3 billion and $27.0 billion at December 31, 2010 and 2009, respectively.", + "n/a = not applicable The tables below provide information about where changes in the fair value of assets or liabilities accounted for under the fair value option are included in the Consolidated Statement of Income for 2010, 2009 and 2008.", + "Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option", + "||2010|\n|(Dollars in millions)|Trading Account Profits (Losses)|Mortgage Banking Income (Loss)|Equity Investment Income (Loss)|Other Income (Loss)|Total|\n|Corporate loans and loan commitments|$2|$\u2013|$\u2013|$105|$107|\n|Loansheld-for-sale|\u2013|9,091|\u2013|493|9,584|\n|Securities financing agreements|\u2013|\u2013|\u2013|52|52|\n|Other assets|\u2013|\u2013|\u2013|107|107|\n|Long-term deposits|\u2013|\u2013|\u2013|-48|-48|\n|Asset-backed secured financings|\u2013|-95|\u2013|\u2013|-95|\n|Commercial paper and other short-term borrowings|-192|\u2013|\u2013|\u2013|-192|\n|Long-term debt|-625|\u2013|\u2013|22|-603|\n| Total|$-815|$8,996|$\u2013|$731|$8,912|\n||2009|\n|Corporate loans and loan commitments|$25|$\u2013|$\u2013|$1,886|$1,911|\n|Loansheld-for-sale|-211|8,251|\u2013|588|8,628|\n|Securities financing agreements|\u2013|\u2013|\u2013|-292|-292|\n|Other assets|379|\u2013|-177|\u2013|202|\n|Long-term deposits|\u2013|\u2013|\u2013|35|35|\n|Asset-backed secured financings|\u2013|-11|\u2013|\u2013|-11|\n|Commercial paper and other short-term borrowings|-236|\u2013|\u2013|\u2013|-236|\n|Long-term debt|-3,938|\u2013|\u2013|-4,900|-8,838|\n|Total|$-3,981|$8,240|$-177|$-2,683|$1,399|\n||2008|\n|Corporate loans and loan commitments|$4|$\u2013|$\u2013|$-1,248|$-1,244|\n|Loansheld-for-sale|-680|281|\u2013|-215|-614|\n|Securities financing agreements|\u2013|\u2013|\u2013|-18|-18|\n|Long-term deposits|\u2013|\u2013|\u2013|-10|-10|\n|Asset-backed secured financings|\u2013|295|\u2013|\u2013|295|\n|Total|$-676|$576|$\u2013|$-1,491|$-1,591|\n", + "Notes to the Consolidated Financial Statements 1.", + "Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of PPG Industries, Inc. (\u201cPPG\u201d or the \u201cCompany\u201d) and all subsidiaries, both U. S. and non-U.", + "S. , that it controls.", + "PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls.", + "For those consolidated subsidiaries in which the Company\u2019s ownership is less than 100%, the outside shareholders\u2019 interests are shown as noncontrolling interests.", + "Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting.", + "As a result, PPG\u2019s share of the earnings or losses of such equity affiliates is included in the accompanying consolidated statement of income and PPG\u2019s share of these companies\u2019 shareholders\u2019 equity is included in \"Investments\" in the accompanying consolidated balance sheet.", + "Transactions between PPG and its subsidiaries are eliminated in consolidation.", + "Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period.", + "Such estimates also include the fair value of assets acquired and liabilities assumed as a result of allocations of purchase price of business combinations consummated.", + "Actual outcomes could differ from those estimates.", + "Revenue Recognition The Company recognizes revenue when the earnings process is complete.", + "Revenue from sales is recognized by all operating segments when goods are shipped and title to inventory and risk of loss passes to the customer or when services have been rendered.", + "Shipping and Handling Costs Amounts billed to customers for shipping and handling are reported in \u201cNet sales\u201d in the accompanying consolidated statement of income.", + "Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in \u201cCost of sales, exclusive of depreciation and amortization\u201d in the accompanying consolidated statement of income.", + "Selling, General and Administrative Costs Amounts presented as \u201cSelling, general and administrative\u201d in the accompanying consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate\u0002wide functional support in such areas as finance, law, human resources and planning.", + "Distribution costs pertain to the movement and storage of finished goods inventory at company\u0002 owned and leased warehouses, terminals and other distribution facilities.", + "Advertising Costs Advertising costs are expensed in the year incurred and totaled $345 million, $288 million and $245 million in 2013, 2012 and 2011, respectively.", + "Research and Development Research and development costs, which consist primarily of employee related costs, are charged to expense as incurred.", + "The following are the research and development costs for the years ended December 31:", + "|(Millions)|2013|2012|2011|\n|Research and development \u2013 total|$505|$468|$443|\n|Less depreciation on research facilities|17|15|15|\n|Research and development, net|$488|$453|$428|\n", + "Legal Costs Legal costs are expensed as incurred.", + "Legal costs incurred by PPG include legal costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes.", + "Foreign Currency Translation The functional currency of most significant non-U.", + "S. operations is their local currency.", + "Assets and liabilities of those operations are translated into U. S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period.", + "Unrealized foreign currency translation adjustments are deferred in accumulated other comprehensive loss, a separate component of shareholders\u2019 equity.", + "Cash Equivalents Cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less.", + "Short-term Investments Short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to one year.", + "The purchases and sales of these investments are classified as investing activities in the consolidated statement of cash flows.", + "Marketable Equity Securities The Company\u2019s investment in marketable equity securities is recorded at fair market value and reported in \u201cOther current assets\u201d and \u201cInvestments\u201d in the accompanying consolidated balance sheet with changes in fair market value recorded in income for those securities designated as trading securities and in other comprehensive income, net of tax, for those designated as available for sale securities.", + "The following table indicates the percentage of net sales represented by each of our major product categories during fiscal 2017 and 2016:" + ], + "question_id": "simplong-test-279", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Commercial \u2013 foreign reach in 2010 if it continues to grow at its current rate? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "GWIM provides a wide offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of our individual and institutional customer base.", + "Our clients have access to a range of services offered through three primary businesses: MLGWM; U. S. Trust, Bank of America Private Wealth Management (U. S. Trust); and Columbia.", + "The results of the Retirement & Philanthropic Serv\u0002ices business, the Corporation\u2019s approximate 34 percent economic ownership interest in BlackRock and other miscellaneous items are included in Other within GWIM.", + "As part of the Merrill Lynch acquisition, we added its financial advisors and an economic ownership interest of approximately 50 percent in BlackRock, a publicly traded investment management company.", + "During 2009, BlackRock completed its purchase of Barclays Global Investors, an asset management business, from Barclays PLC which had the effect of diluting our ownership interest in BlackRock and, for accounting pur\u0002poses, was treated as a sale of a portion of our ownership interest.", + "As a result, upon the closing of this transaction, the Corporation\u2019s economic ownership interest in BlackRock was reduced to approximately 34 percent and we recorded a pre-tax gain of $1.1 billion.", + "Net income increased $1.1 billion, or 78 percent, to $2.5 billion as higher total revenue was partially offset by increases in noninterest expense and provision for credit losses.", + "Net interest income increased $767 million, or 16 percent, to $5.6 billion primarily due to the acquisition of Merrill Lynch partially offset by a lower net interest income allocation from ALM activities and the impact of the migration of client balances during 2009 to Deposits and Home Loans & Insurance.", + "GWIM\u2019s average loan and deposit growth benefited from the acquisition of Merrill Lynch and the shift of client assets from off-balance sheet (e. g. , money market funds) to on-balance sheet prod\u0002ucts (e. g. , deposits) partially offset by the net migration of customer rela\u0002tionships.", + "A more detailed discussion regarding migrated customer relationships and related balances is provided in the following MLGWM discussion.", + "Noninterest income increased $9.5 billion to $12.6 billion primarily due to higher investment and brokerage services income driven by the Merrill Lynch acquisition, the $1.1 billion gain on our investment in BlackRock and the lower level of support provided to certain cash funds partially offset by the impact of lower average equity market levels and net outflows primarily in the cash complex.", + "Provision for credit losses increased $397 million, or 60 percent, to $1.1 billion, reflecting the weak economy during 2009 which drove higher net charge-offs in the consumer real estate and commercial portfolios including a single large commercial charge-off.", + "Noninterest expense increased $8.2 billion to $13.1 billion driven by the addition of Merrill Lynch and higher FDIC insurance and special assessment costs partially offset by lower revenue-related expenses.", + "Client Assets The following table presents client assets which consist of AUM, client brokerage assets, assets in custody and client deposits.", + "||December 31|\n|(Dollars in millions)|2009|2008|\n|Assets under management|$749,852|$523,159|\n|Client brokerage assets-1|1,270,461|172,106|\n|Assets in custody|274,472|133,726|\n|Client deposits|224,840|176,186|\n|Less: Client brokerage assets and assets incustody included in assets under management|-346,682|-87,519|\n| Total net client assets|$2,172,943|$917,658|\n", + "(1) Client brokerage assets include non-discretionary brokerage and fee-based assets.", + "The increase in net client assets was driven by the acquisition of Merrill Lynch and higher equity market values at December 31, 2009 compared to 2008 partially offset by outflows that primarily occurred in cash and money market assets due to increasing interest rate pressure.", + "Merrill Lynch Global Wealth Management Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined the Merrill Lynch wealth management business and our former Premier Banking & Investments business to form MLGWM.", + "MLGWM pro\u0002vides a high-touch client experience through a network of approximately 15,000 client-facing financial advisors to our affluent customers with a personal wealth profile of at least $250,000 of investable assets.", + "The addition of Merrill Lynch created one of the largest financial advisor net\u0002works in the world.", + "Merrill Lynch added $10.3 billion in revenue and $1.6 billion in net income during 2009.", + "Total client balances in MLGWM, which include deposits, AUM, client brokerage assets and other assets in cus\u0002tody, were $1.4 trillion at December 31, 2009.", + "MLGWM includes the impact of migrating customers and their related deposit and loan balances to or from Deposits and Home Loans & Insurance.", + "As of the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the segment to which the customers migrated.", + "During 2009, total deposits of $43.4 billion were migrated to Deposits from MLGWM.", + "Conversely, during 2008, total deposits of $20.5 billion were migrated from Deposits to MLGWM.", + "During 2009 and 2008, total loans of $16.6 billion and $1.7 billion were migrated from MLGWM, of which $11.5 billion and $1.6 bil\u0002lion were migrated to Home Loans & Insurance.", + "These changes in 2009 were mainly due to client segmentation threshold changes resulting from the Merrill Lynch acquisition.", + "Table 9 presents total long-term debt and other obligations at December 31, 2009.", + "|| December 31, 2009|\n|(Dollars in millions)| Due in 1 Year or Less| Due after 1 Year through 3 Years| Due after 3 Years through 5 Years| Due after 5 Years| Total|\n|Long-term debt and capital leases|$99,144|$124,054|$72,103|$143,220|$438,521|\n|Operating lease obligations|3,143|5,072|3,355|8,143|19,713|\n|Purchase obligations|11,957|3,667|1,627|2,119|19,370|\n|Other long-term liabilities|610|1,097|848|1,464|4,019|\n| Total long-term debt and other obligations|$114,854|$133,890|$77,933|$154,946|$481,623|\n", + "Debt, lease, equity and other obligations are more fully discussed in Note 13 \u2013 Long-term Debt and Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "The Plans are more fully discussed in Note 17 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "We enter into commitments to extend credit such as loan commit\u0002ments, standby letters of credit (SBLCs) and commercial letters of credit to meet the financing needs of our customers.", + "For a summary of the total unfunded, or off-balance sheet, credit extension commitment amounts by expiration date, see the table in Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "Regulatory Initiatives On November 12, 2009, the Federal Reserve issued the final rule related to changes to Regulation E and on May 22, 2009, the CARD Act was signed into law.", + "For more information on the impact of these new regu\u0002lations, see Regulatory Overview on page 29.", + "In December 2009, the Basel Committee on Banking Supervision released consultative documents on both capital and liquidity.", + "In addition, we will begin Basel II parallel implementation during the second quarter of 2010.", + "For more information, see Basel Regulatory Capital Requirements on page 64.", + "On January 21, 2010, the Federal Reserve, Office of the Comptroller of the Currency, FDIC and Office of Thrift Supervision (collectively, joint agencies) issued a final rule regarding risk-based capital and the impact of adoption of new consolidation rules issued by the FASB.", + "The final rule eliminates the exclusion of certain asset-backed commercial paper (ABCP) program assets from risk-weighted assets and provides a reser\u0002vation of authority to permit the joint agencies to require banks to treat structures that are not consolidated under the accounting standards as if they were consolidated for risk-based capital purposes commensurate with the risk relationship of the bank to the structure.", + "In addition, the final rule allows for an optional delay and phase-in for a maximum of one year for the effect on risk-weighted assets and the regulatory limit on the inclusion of the allowance for loan and lease losses in Tier 2 capital related to the assets that must be consolidated as a result of the accounting change.", + "The transitional relief does not apply to the leverage ratio or to assets in VIEs to which a bank provides implicit support.", + "We have elected to forgo the phase-in period, and accordingly, we con\u0002solidated the amounts for regulatory capital purposes as of January 1, 2010.", + "For more information on the impact of this guidance, see Impact of Adopting New Accounting Guidance on Consolidation on page 64.", + "On December 14, 2009, we announced our intention to increase lend\u0002ing to small- and medium-sized businesses to approximately $21 billion in 2010 compared to approximately $16 billion in 2009.", + "This announce\u0002ment is consistent with the U. S. Treasury\u2019s initiative, announced as part of the Financial Stability Plan on February 2, 2009, to help increase small business owners\u2019 access to credit.", + "As part of the initiative, the U. S. Treas\u0002ury began making direct purchases of up to $15 billion of certain secu\u0002rities backed by Small Business Administration (SBA) loans to improve liquidity in the credit markets and purchasing new securities to ensure that financial institutions feel confident in extending new loans to small businesses.", + "The program also temporarily raises guarantees to up to 90 percent in the SBA\u2019s loan program and temporarily eliminates certain SBA loan fees.", + "We continue to lend to creditworthy small business customers through small business credit cards, loans and lines of credit products.", + "In response to the economic downturn, the FDIC implemented the Temporary Liquidity Guarantee Program (TLGP) to strengthen confidence and encourage liquidity in the banking system by allowing the FDIC to guarantee senior unsecured debt (e. g. , promissory notes, unsubordinated unsecured notes and commercial paper) up to prescribed limits, issued by participating entities beginning on October 14, 2008, and continuing through October 31, 2009.", + "We participated in this program; however, as announced in September 2009, due to improved market liquidity and our ability to issue debt without the FDIC guarantee, we, with the FDIC\u2019s agreement, exited the program and have stopped issuing FDIC\u0002guaranteed debt.", + "At December 31, 2009, we still had FDIC-guaranteed debt outstanding issued under the TLGP of $44.3 billion.", + "The TLGP also offered the Transaction Account Guarantee Program (TAGP) that guaran\u0002teed noninterest-bearing deposit accounts held at participating FDIC\u0002insured institutions on balances in excess of $250,000.", + "We elected to opt out of the six-month extension of the TAGP which extends the program to June 30, 2010.", + "We exited the TAGP effective December 31, 2009.", + "On September 21, 2009, the Corporation reached an agreement to terminate its term sheet with the U. S. government under which the U. S. government agreed in principle to provide protection against the possi\u0002bility of unusually large losses on a pool of the Corporation\u2019s financial instruments that were acquired from Merrill Lynch.", + "In connection with the termination of the term sheet, the Corporation paid a total of $425 mil\u0002lion to the U. S. government to be allocated among the U. S. Treasury, the Federal Reserve and the FDIC.", + "In addition to exiting the TARP as discussed on page 30, terminating the U. S. Government\u2019s asset guarantee term sheet and exiting the TLGP, including the TAGP, we have exited or ceased participation in market dis\u0002ruption liquidity programs created by the U. S. government in response to the economic downturn of 2008.", + "We have exited or repaid borrowings under the Term Auction Facility, U. S. Treasury Temporary Liquidity Guaran\u0002tee Program for Money Market Funds, ABCP Money Market Fund Liquidity Facility, Commercial Paper Federal Funding Facility, Money Market Investor Funding Facility, Term Securities Lending Facility and Primary Dealer Credit Facility.", + "On November 17, 2009, the FDIC issued a final rule that required insured institutions to prepay on December 30, 2009 their estimated", + "Table 29 presents commercial credit exposure by type for utilized, unfunded and total binding committed credit exposure.", + "Commercial uti\u0002lized credit exposure includes funded loans, standby letters of credit, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which the bank is legally bound to advance funds under pre\u0002scribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial committed credit exposure decreased by $10.1 billion, or one percent, at December 31, 2009 compared to December 31, 2008.", + "The decrease was largely driven by reductions in loans and leases partially offset by an increase in derivatives due to the acquisition of Merrill Lynch.", + "Total commercial utilized credit exposure decreased to $494.4 billion at December 31, 2009 compared to $498.7 billion at December 31, 2008.", + "Funded loans and leases declined due to limited demand for acquisition financing and capital expenditures in the large corporate and middle-market portfolios and as clients utilized the improved capital markets more extensively for their funding needs.", + "With the economic outlook remaining uncertain, businesses are aggressively managing work\u0002ing capital and production capacity, maintaining low inventories and deferring capital spending.", + "The increase in derivative assets was driven by the acquisition of Merrill Lynch substantially offset during 2009 by maturing transactions, mark-to-market adjustments from changing inter\u0002est and foreign exchange rates, as well as narrower credit spreads.", + "The loans and leases funded utilization rate was 57 percent at December 31, 2009 compared to 58 percent at December 31, 2008.", + "|| December 31|\n|| Commercial Utilized-1, 2| Commercial Unfunded-1, 3, 4| Total Commercial Committed-1|\n|(Dollars in millions)| 2009|2008| 2009|2008| 2009|2008|\n|Loans and leases|$322,564|$342,767|$293,519|$300,856|$616,083|$643,623|\n|Derivative assets-5|80,689|62,252|\u2013|\u2013|80,689|62,252|\n|Standby letters of credit and financial guarantees|70,238|72,840|6,008|4,740|76,246|77,580|\n|Assets held-for-sale-6|13,473|14,206|781|183|14,254|14,389|\n|Bankers\u2019 acceptances|3,658|3,382|16|13|3,674|3,395|\n|Commercial letters of credit|2,958|2,974|569|791|3,527|3,765|\n|Foreclosed properties and other|797|328|\u2013|\u2013|797|328|\n| Total commercial credit exposure|$494,377|$498,749|$300,893|$306,583|$795,270|$805,332|\n", + "(1) At December 31, 2009, total commercial utilized, total commercial unfunded and total commercial committed exposure include $88.5 billion, $25.7 billion and $114.2 billion, respectively, related to Merrill Lynch.", + "(2) Total commercial utilized exposure at December 31, 2009 and 2008 includes loans and issued letters of credit accounted for under the fair value option and is comprised of loans outstanding of $4.9 billion and $5.4 billion, and letters of credit with a notional amount of $1.7 billion and $1.4 billion.", + "(3) Total commercial unfunded exposure at December 31, 2009 and 2008 includes loan commitments accounted for under the fair value option with a notional amount of $25.3 billion and $15.5 billion.", + "(4) Excludes unused business card lines which are not legally binding.", + "(5) Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements, and have been reduced by cash collateral of $58.4 billion and $34.8 billion at December 31, 2009 and 2008.", + "Not reflected in utilized and committed exposure is additional derivative collateral held of $16.2 billion and $13.4 billion which consists primarily of other marketable securities at December 31, 2009 and 2008.", + "(6) Total commercial committed assets held-for-sale exposure consists of $9.0 billion and $12.1 billion of commercial LHFS exposure (e. g. , commercial mortgage and leveraged finance) and $5.3 billion and $2.3 billion of assets held-for-sale exposure at December 31, 2009 and 2008.", + "Table 30 presents commercial utilized reservable criticized exposure by product type.", + "Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory author\u0002ities.", + "In addition to reservable loans and leases, excluding those accounted for under the fair value option, exposure includes SBLCs, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which we are legally bound to advance funds under prescribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial utilized reservable criticized exposure rose by $21.7 billion primarily due to increases in commercial real estate and commercial \u2013 domestic.", + "Commercial real estate increased $10.0 billion primarily due to the non-homebuilder portfolio which has been impacted by the weak economy partially offset by a decrease in the homebuilder portfolio.", + "The $9.3 billion increase in commercial \u2013 domestic reflects deterioration across various lines of business and industries, primarily in Global Banking.", + "At December 31, 2009, approximately 85 percent of the loans within criticized reservable utilized exposure are secured.", + "|| December 31|\n||2009|2008|\n|(Dollars in millions)| Amount|Percent -1|Amount|Percent-1|\n|Commercial \u2013 domestic-2|$28,259|11.66%|$18,963|7.20%|\n|Commercial real estate|23,804|32.13|13,830|19.73|\n|Commercial lease financing|2,229|10.04|1,352|6.03|\n|Commercial \u2013 foreign|2,605|7.12|1,459|3.65|\n||56,897|15.17|35,604|8.99|\n|Small business commercial \u2013 domestic|1,789|10.18|1,333|6.94|\n| Total commercial utilized reservable criticized exposure|$58,686|14.94|$36,937|8.90|\n", + "(1) Percentages are calculated as commercial utilized reservable criticized exposure divided by total commercial utilized reservable exposure for each exposure category.", + "(2) Excludes small business commercial \u2013 domestic exposure.", + "The following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs (Level 3) (in millions):", + "||December 31, 2017|\n|Beginning Balance|$78.7|\n|Gains on assets sold|0.3|\n|Change in fair value of assets|3.8|\n|Net purchases and sales|5.2|\n|Translation gain|3.0|\n|Ending Balance|$91.0|\n", + "We expect that we will have no legally required minimum funding requirements in 2018 for the qualified U. S. and Puerto Rico defined benefit retirement plans, nor do we expect to voluntarily contribute to these plans during 2018.", + "Contributions to foreign defined benefit plans are estimated to be $17.0 million in 2018 .", + "We do not expect the assets in any of our plans to be returned to us in the next year.", + "Defined Contribution Plans We also sponsor defined contribution plans for substantially all of the U. S. and Puerto Rico employees and certain employees in other countries.", + "The benefits offered under these plans are reflective of local customs and practices in the countries concerned.", + "We expensed $47.9 million, $42.5 million and $40.2 million related to these plans for the years ended December 31, 2017, 2016 and 2015, respectively.15.", + "Income Taxes 2017 Tax Act: The President signed U. S. tax reform legislation (\u201c2017 Tax Act\u201d) on December 22, 2017, which is considered the enactment date.", + "The 2017 Tax Act includes a broad range of provisions, many of which significantly differ from those contained in previous U. S. tax law.", + "Changes in tax law are accounted for in the period of enactment.", + "As such, our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 Tax Act.", + "The 2017 Tax Act contains several key provisions including, among other things: ?", + "a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits (E&P), referred to as the toll charge; ?", + "a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017; ?", + "the introduction of a new U. S. tax on certain off-shore earnings referred to as global intangible low-taxed income (GILTI) at an effective tax rate of 10.5 percent for tax years beginning after December 31, 2017 (increasing to 13.125 percent for tax years beginning after December 31, 2025), with a partial offset by foreign tax credits; and ?", + "the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries.", + "During the fourth quarter of 2017, we recorded an income tax benefit of $1,272.4 million, which was comprised of the following: ?", + "income tax benefit of $715.0 million for the one-time deemed repatriation of foreign earnings.", + "This is composed of a $1,181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 Tax Act offset by $466.0 million for the toll charge recognized under the 2017 Tax Act.", + "In accordance with the 2017 Tax Act, we expect to elect to pay the toll charge in installments over eight years.", + "As of December 31, 2017, we have recorded current and non-current income tax liabilities related to the toll charge of $82.0 million and $384.0 million, respectively. ?", + "an income tax benefit of $557.4 million, primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent.", + "The net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 Tax Act as of the time of filing this Annual Report on Form 10-K. We further refined our estimates related to the impact of the 2017 Tax Act subsequent to the issuance of our earnings release for the fourth quarter of 2017.", + "In accordance with authoritative guidance issued by the SEC, the income tax effect for certain aspects of the 2017 Tax Act represent provisional amounts for which our accounting is incomplete, but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017.", + "The actual effects of the 2017 Tax Act and final amounts recorded may differ materially from our current estimate of provisional amounts due to, among other things, further interpretive guidance that may be issued by U. S. tax authorities or regulatory bodies, including the SEC and the FASB.", + "We will continue to analyze the 2017 Tax Act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period, which ends in the fourth quarter of 2018.", + "We continue to evaluate the impacts of the 2017 Tax Act and consider the amounts recorded to be provisional.", + "In addition, we are still evaluating the GILTI provisions of the 2017 Tax Act and their impact, if any, on our consolidated financial statements as of December 31, 2017.", + "The FASB allows companies to adopt an accounting policy to either recognize deferred taxes for GILTI or treat such as a tax cost in the year incurred.", + "We have not yet determined which accounting policy to adopt because determining the impact of the GILTI provisions requires analysis of our existing legal entity structure, the reversal of our U. S. GAAP and U. S. tax basis differences in the assets and liabilities of our foreign subsidiaries, and our ability to offset any tax with foreign tax credits.", + "As such, we did not record a deferred income tax" + ], + "question_id": "simplong-test-280", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in the the fair value of our foreign currency forward contracts from 2008 to 2009", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Company determined that its usage pattern for certain assets had changed significantly and revised the useful lives of certain equipment starting in 2009.", + "This adjustment was considered to be a change in an accounting estimate.", + "The impact to the Company in 2010 and 2009 were as follows (unaudited):", + "|| 2010|\n|(millions of dollars)| Q1| Q2| Q3| Q4| Full Year|\n|Operating income increase|$4.8|$4.7|$4.6|$4.7|$18.8|\n|Net earnings increase attributable to BorgWarner Inc.|3.7|3.6|3.6|3.6|14.5|\n|Earnings per share increase \u2014 Basic|$0.03|$0.03|$0.03|$0.03|$0.13|\n|Earnings per share increase \u2014 Diluted|$0.03|$0.03|$0.03|$0.03|$0.11|\n", + "Revenue Recognition The Company recognizes revenue when title and risk of loss pass to the customer, which is usually upon shipment of product.", + "Although the Company may enter into long-term supply agreements with its major customers, each shipment of goods is treated as a separate sale and the prices are not fixed over the life of the agreements.", + "Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company periodically reviews the carrying value of its long-lived assets, whether held for use or disposal, including other intangible assets, when events and circumstances warrant such a review.", + "Such events and circumstances include, but are not limited to, a significant decrease in market volumes, or project life, or a loss of a major customer application (i. e. , a \u201ctriggering event\u201d).", + "The Company\u2019s impairment review is performed at each manufacturing, assembly, and technical site using data that is the basis for the Company\u2019s annual budget (or forecast on an interim basis) and long-range plan (\u201cLRP\u201d).", + "The annual budget and LRP include a five year projection of future cash flows based on actual new products and customer commitments.", + "If a triggering event has occurred, the assets are identified by the operating location and management as potentially impaired and a recoverability review is performed by management.", + "The review will determine if a current or future alternative use exists for additional customer applications or if redeployment of the assets to any of the Company\u2019s other operating sites around the world is justified.", + "The recoverability test compares projected undiscounted future cash flows to the carrying value of a product line or a specific customer application or asset grouping, as applicable.", + "If the undiscounted cash flow test for recoverability identifies a possible impairment, management will perform a fair value analysis.", + "Management determines fair value under ASC Topic 820 using the appropriate valuation technique of market, income or cost approach.", + "Management believes that the estimates and assumptions are reasonable however, changes in assumptions with respect to future volumes, program project life or future asset use, in addition to future cash flows underlying these estimates could affect the Company\u2019s fair value evaluations.", + "Due to the sudden decline in the global automotive markets in 2008 and 2009, the Company reviewed the carrying value of its long-lived assets.", + "As a result of these reviews, the Company recognized $36.3 million and $72.9 million in impairment of long-lived assets (i. e. , plant and equipment) as part of restructuring", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) NOTE 4 INCOME TAXES Earnings before income taxes and the provision for income taxes are presented in the following table.", + "|(millions of dollars)|2010|2009|2008|\n|Year Ended December 31,|U.S.|Non-U.S.|Total|U.S.|Non-U.S.|Total|U.S.|Non-U.S.|Total|\n|Earnings (loss) before taxes|$-26.7|$504.6|$477.9|$-138.5|$156.4|$17.9|$-123.8|$137.8|$14.0|\n|Provision for income taxes:||||||||||\n|Current:||||||||||\n|Federal/foreign|14.0|117.7|131.7|-2.7|42.7|40.0|7.7|99.5|107.2|\n|State|2.2|\u2014|2.2|1.5|\u2014|1.5|1.0|\u2014|1.0|\n|Total current|16.2|117.7|133.9|-1.2|42.7|41.5|8.7|99.5|108.2|\n|Deferred|-48.9|-3.3|-52.2|-51.6|-8.4|-60.0|-44.7|-30.2|-74.9|\n|Total provision for income taxes|$-32.7|$114.4|$81.7|$-52.8|$34.3|$-18.5|$-36.0|$69.3|$33.3|\n|Effective tax rate|-122.5%|22.7%|17.1%|-38.1%|21.9%|-103.4%|-29.1%|50.3%|237.9%|\n", + "The provision for income taxes resulted in an effective tax rate for 2010 of 17.1% compared with rates of (103.4)% in 2009 and 237.9% in 2008.", + "In the first quarter of 2010, the Patient Protection and Affordable Care Act (PPACA) was signed into law.", + "In addition, the Health Care and Education Reconciliation Act of 2010 (\u201cthe Reconciliation Act\u201d) was also passed, amending certain portions of the PPACA.", + "The PPACA contains a provision eliminating tax deductibility of retiree health care costs to the extent of federal subsidies received by plan sponsors who provide retiree prescription drug benefits equivalent to Medicare Part D coverage.", + "However, based upon the changes made in the Reconciliation Act, the tax benefit related to the Medicare Part D subsidies will be extended until December 31, 2012.", + "For all tax years ending after December 31, 2012 there will no longer be a tax benefit for the Medicare Part D subsidies.", + "Therefore, the impact to the Company for the loss of this future tax benefit (after December 31, 2012) was an additional tax expense of approximately $2.9 million in 2010.", + "The provision for income taxes for the year ended December 31, 2010 included a favorable impact of $21.2 million from the reversal of the Company\u2019s valuation allowance on U. S. based foreign tax credit carryforwards.", + "The improving financial performance of the Company\u2019s U. S. operations has resulted in greater certainty that the Company will be able to fully utilize existing foreign tax credit carryforwards.", + "The Company\u2019s annual effective tax rate for 2010 is 17.1% which includes the impact of the reversal of the Company\u2019s valuation allowance on U. S. based foreign tax credit carryforwards, the change in tax legislation related to Medicare Part D subsidies, the additional tax expense associated with the BERU-Eichenauer equity investment gain and the tax benefit associated with the Company\u2019s environmental litigation settlement.", + "This rate differs from the U. S. statutory rate primarily due to foreign rates, which differ from those in the U. S. , the realization of certain business tax credits including foreign tax credits and favorable permanent differences between book and tax treatment for items, including equity in affiliates\u2019 earnings.", + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) the Company\u2019s December 31, 2010 Consolidated Balance Sheet.", + "See Note 1 in the Consolidated Financial Statements for more information regarding the Company\u2019s first quarter 2010 adoption of ASC Topic 860.", + "(b) In 2006, the Company entered into several interest rate swaps that had the effect of converting $325.0 million of fixed rate notes to variable rates.", + "In the first quarter of 2009, $100 million in interest rate swaps related to the Company\u2019s 2009 fixed rate debt matured, and the Company terminated $150 million in interest rate swap agreements related to the Company\u2019s 2016 fixed rate debt and $75 million of interest rate swap agreements related to the Company\u2019s 2019 fixed rate debt.", + "As a result of the first quarter 2009 swap terminations, a $34.5 million gain remained in debt and is being amortized over the remaining lives of the respective 2016 and 2019 debt.", + "As of December 31, 2010 and 2009, the unamortized portion was $27.8 million and $31.4 million, respectively.", + "Annual principal payments required as of December 31, 2010 are as follows (in millions of dollars)", + "|2011|$128.5|\n|2012|384.1|\n|2013|5.0|\n|2014|0.2|\n|2015|10.0|\n|After 2015|682.4|\n|Total Payments|$1,210.2|\n|Less: Convertible Note Accretion|-25.3|\n|Less: Unamortized Discounts|-4.5|\n|Total|$1,180.4|\n", + "The Company\u2019s long-term debt includes various financial covenants, none of which are expected to restrict future operations.", + "On March 31, 2010, the Company replaced its $250 million multi-currency revolving credit facility with a new $550 million multi-currency revolving credit facility, which includes a feature that allows the Company to increase its borrowings to $600 million.", + "The new facility provides for borrowings through March 31, 2013, and is guaranteed by the Company\u2019s domestic subsidiaries.", + "The Company has three key financial covenants as part of the credit agreement.", + "These covenants are a net worth test, a debt compared to EBITDA (\u201cEarnings Before Interest, Taxes, Depreciation and Amortization\u201d) test, and an interest coverage test.", + "The Company was in compliance with all covenants at December 31, 2010 and expects to remain compliant in future periods.", + "At December 31, 2010 and December 31, 2009 there were no outstanding borrowings under these facilities.", + "On September 16, 2010, the Company issued $250 million in 4.625% senior notes due 2020.", + "Interest is payable semi-annually on March 15 and September 15 of each year, beginning on March 15, 2011.", + "The senior notes were issued under the Company\u2019s $750 million universal shelf registration filed with the Securities and Exchange Commission, leaving approximately $126 million available as of December 31, 2010.", + "On April 9, 2009, the Company issued $373.8 million in convertible senior notes due April 15, 2012.", + "Under ASC Topic 470, \u201cAccounting for Convertible Debt Instruments That May be Settled in Cash Upon Conversion (Including Partial Cash Settlement)\u201d, the Company must account for the convertible senior notes by bifurcating the instruments between their liability and equity components.", + "The value of the debt component is based on the fair value of issuing a similar nonconvertible debt security.", + "The equity component of the convertible debt security is calculated by deducting the value of the liability from the proceeds received at issuance.", + "The Company\u2019s December 31, 2010 Consolidated Balance Sheet includes debt of $348.5 million and capital in excess of par of $36.5 million.", + "Additionally, ASC Topic 470 requires the Company to accrete the", + "addition, we are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates on transactions generated by our international subsidiaries in currencies other than their local currencies.", + "These gains and losses are primarily driven by inter-company transactions.", + "These exposures are included in other income (expense), net on the consolidated statements of income.", + "Since 2007, we have used foreign currency forward contracts to reduce the risk from exchange rate fluctuations on inter-company transactions and projected inventory purchases for our Canadian subsidiary.", + "Beginning in December 2008, we began using foreign currency forward contracts in order to reduce the risk associated with foreign currency exchange rate fluctuations on inter-company transactions for our European subsidiary.", + "We do not enter into derivative financial instruments for speculative or trading purposes.", + "Based on the foreign currency forward contracts outstanding as of December 31, 2009, we receive US Dollars in exchange for Canadian Dollars at a weighted average contractual forward foreign currency exchange rate of 1.04 CAD per $1.00 and US Dollars in exchange for Euros at a weighted average contractual foreign currency exchange rate of 0.70 EUR per $1.00.", + "As of December 31, 2009, the notional value of our outstanding foreign currency forward contracts for our Canadian subsidiary was $15.4 million with contract maturities of 1 month, and the notional value of our outstanding foreign currency forward contracts for our European subsidiary was $56.0 million with contract maturities of 1 month.", + "The foreign currency forward contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are recorded in other income (expense), net on the consolidated statements of income.", + "The fair value of our foreign currency forward contracts was $0.3 million and $1.2 million as of December 31, 2009 and 2008, respectively.", + "These amounts are included in prepaid expenses and other current assets on the consolidated balance sheet.", + "Refer to Note 9 for a discussion of the fair value measurements.", + "Other income (expense), net included the following amounts related to changes in foreign currency exchange rates and derivative foreign currency forward contracts:" + ], + "question_id": "simplong-test-281", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of the Total deferred tax liabilities in the years where Long-term deferred income taxes is greater than 0? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Industrial Participation Agreements We have entered into various industrial participation agreements with certain customers outside of the U. S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us.", + "These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance.", + "However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.", + "S. customers.", + "In certain cases, penalties could be imposed if we do not meet our industrial participation commitments.", + "During 2017, we incurred no such penalties.", + "As of December 31, 2017, we have outstanding industrial participation agreements totaling $17.9 billion that extend through 2030.", + "Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above.", + "To be eligible for such a purchase order commitment from us, a non-U.", + "S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule.", + "Commercial Commitments The following table summarizes our commercial commitments outstanding as of December 31, 2017.", + "|(Dollars in millions)|Total AmountsCommitted/MaximumAmount of Loss|Less than1 year|1-3years|4-5years|After 5years|\n|Standby letters of credit and surety bonds|$3,708|$1,659|$782|$559|$708|\n|Commercial aircraft financing commitments|10,221|2,047|4,372|2,256|1,546|\n|Total commercial commitments|$13,929|$3,706|$5,154|$2,815|$2,254|\n", + "Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates.", + "Based on historical experience, we anticipate that we will not be required to fund a significant portion of our financing commitments.", + "However, there can be no assurances that we will not be required to fund greater amounts than historically required, particularly if the Export-Import Bank of the United States continues to be unable to, or does not, provide new financing support.", + "See Note 11 to our Consolidated Financial Statements.", + "Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us.", + "Legal contingencies are discussed in Note 20 to our Consolidated Financial Statements.", + "Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $524 million at December 31, 2017.", + "For additional information, see Note 11 to our Consolidated Financial Statements.", + "Off-Balance Sheet Arrangements We are a party to certain off-balance sheet arrangements including certain guarantees.", + "For discussion of these arrangements, see Note 12 to our Consolidated Financial Statements.", + "COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*", + "|Measurement PointDecember 31|The Priceline Group Inc.|NASDAQComposite Index|S&P 500Index|RDG InternetComposite|\n|2010|100.00|100.00|100.00|100.00|\n|2011|117.06|100.53|102.11|102.11|\n|2012|155.27|116.92|118.45|122.23|\n|2013|290.93|166.19|156.82|199.42|\n|2014|285.37|188.78|178.29|195.42|\n|2015|319.10|199.95|180.75|267.25|\n", + "Contractual Obligations: Presented in the following table are CMS Energy\u2019s and Consumers\u2019 contractual obligations for each of the periods presented.", + "The table excludes all amounts classified as current liabilities on CMS Energy\u2019s and Consumers\u2019 consolidated balance sheets, other than the current portion of long-term debt, capital leases, and financing obligation", + "||||||In Millions||\n||Payments Due||\n|||Less Than|One to|Three to|More Than||\n|December 31, 2013|Total|One Year|Three Years|Five Years|Five Years||\n| CMS Energy, including Consumers|||||||\n|Long-term debt|$7,654|$368|$1,207|$1,443|$4,636||\n|Interest payments on long-term debt|3,335|364|694|573|1,704||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,215|11|37|36|1,131||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|198|14|34|36|114||\n|Purchase obligations1|12,068|1,879|2,015|2,007|6,167||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$26,141|$2,787|$4,268|$4,365|$14,721||\n| Consumers|||||||\n|Long-term debt|$4,625|$43|$449|$848|$3,285||\n|Interest payments on long-term debt|2,259|225|441|370|1,223||\n|Capital leases and financing obligation|159|23|43|38|55||\n|Interest payments on capital leases and financing obligation|64|10|17|15|22||\n|Operating leases|164|26|45|37|56||\n|Asset retirement obligations|1,214|11|37|36|1,130||\n|Deferred investment tax credit|40|3|6|5|26||\n|Environmental liabilities|127|8|24|28|67||\n|Purchase obligations1|11,838|1,803|1,960|1,953|6,122||\n|Purchase obligations \u2013 related parties2|1,244|89|170|175|810||\n|Total contractual obligations|$21,734|$2,241|$3,192|$3,505|$12,796||\n", + "1 Long-term contracts for purchase of commodities and related services, and construction and service agreements.", + "The commodities and related services include natural gas and associated transportation, electricity, and coal and associated transportation.2 Long-term power purchase agreements from certain affiliates of CMS Enterprises.", + "CMS Energy and Consumers also have recognized non-current liabilities for which the timing of payments cannot be reasonably estimated.", + "These items, which are excluded from the table above, include regulatory liabilities, deferred income taxes, workers compensation liabilities, accrued liabilities under renewable energy programs, and other liabilities.", + "Retirement benefits are also excluded from the table above.", + "For details related to benefit payments, see Note 11, Retirement Benefits.", + "Off-Balance-Sheet Arrangements: CMS Energy, Consumers, and certain of their subsidiaries also enter into various arrangements in the normal course of business to facilitate commercial transactions with third parties.", + "These arrangements include indemnities, surety bonds, letters of credit, and financial and performance guarantees.", + "Indemnities are usually agreements to reimburse a counterparty that may incur losses due to outside claims or breach of contract terms.", + "The maximum payment that could be required under a number of these indemnity obligations is not estimable; the maximum obligation under", + "In December 2006 the Tax Relief and Health Care Act of 2006 was signed into law.", + "The Act included a reinstatement of the federal research and experimental credit through December 31, 2007 that was retroactive to January 1, 2006.", + "We recorded a discrete tax benefit of approximately $3.7 million for the retroactive amount related to fiscal 2006 during the twelve months ended July 31, 2007.", + "Significant deferred tax assets and liabilities were as follows at the dates indicated:", + "||July 31,|\n|(In thousands)| 2008|2007|\n|Deferred tax assets:|||\n|Accruals and reserves not currently deductible|$28,178|$34,095|\n|Deferred rent|13,859|21,363|\n|Accrued and deferred compensation|33,954|30,397|\n|Loss and tax credit carryforwards|38,782|19,448|\n|Property and equipment|12,130|30,385|\n|Share-based compensation|77,336|46,021|\n|Other, net|21,002|22,740|\n|Total deferred tax assets|225,241|204,449|\n|Deferred tax liabilities:|||\n|Intangible assets|65,925|41,152|\n|Other, net|5,095|4,022|\n|Total deferred tax liabilities|71,020|45,174|\n|Total net deferred tax assets|154,221|159,275|\n|Valuation allowance|\u2014|-2,527|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We had provided a valuation allowance related to the benefits of certain state capital loss carryforwards and state net operating losses that we believed were unlikely to be realized.", + "The valuation allowance decreased by $2.5 million during the twelve months ended July 31, 2008 as a result of the elimination of the deferred tax asset in connection with the sale of certain outsourced payroll assets.", + "See Note 7.", + "The valuation allowance decreased by $1.9 million during the twelve months ended July 31, 2007 due to utilization of $1.0 million and expired losses of $0.9 million.", + "The components of total net deferred tax assets, net of valuation allowance, as shown on our balance sheet were as follows at the dates indicated:", + "|| July 31,|\n|(In thousands)| 2008| 2007|\n|Current deferred income taxes|$101,730|$84,682|\n|Long-term deferred income taxes|52,491|72,066|\n|Total net deferred tax assets, net of valuation allowance|$154,221|$156,748|\n", + "We acquired Electronic Clearing House, Inc. and Homestead Technologies Inc. in fiscal 2008 and Digital Insight in fiscal 2007.", + "See Note 6.", + "These companies had federal net operating loss carryforwards at their respective dates of acquisition that totaled approximately $164 million.", + "The tax effects of these federal net operating loss carryforwards and other federal tax credit carryforwards totaled approximately $66 million.", + "We recorded the tax effects of these carryforwards as deferred tax assets at the respective dates of acquisition.", + "These carryforwards do not result in an income tax provision benefit, but they reduce income taxes payable and cash paid for income taxes as we utilize them.", + "At July 31, 2008, we had total federal net operating loss carryforwards of approximately $95.0 million that will expire starting in fiscal 2019.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization.", + "At July 31, 2008, we had various state net operating loss and tax credit carryforwards for which we have recorded a deferred tax asset of $4.3 million.", + "The state net operating losses will expire starting in fiscal 2013.", + "Utilization of the net operating losses is subject to annual limitation.", + "The annual limitation may result in the expiration of net operating losses before utilization." + ], + "question_id": "simplong-test-282", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Segment net sales in 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Supplementary Information on Oil and Gas Producing Activities (Unaudited) CONTINUED Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves", + "|(In millions)|2006|2005|2004|\n|Sales and transfers of oil and gas produced, net of production, transportation and administrative costs|$-5,312|$-3,754|$-2,689|\n|Net changes in prices and production, transportation and administrative costs related to future production|-1,342|6,648|771|\n|Extensions, discoveries and improved recovery, less related costs|1,290|700|1,349|\n|Development costs incurred during the period|1,251|1,030|609|\n|Changes in estimated future development costs|-527|-552|-628|\n|Revisions of previous quantity estimates|1,319|820|948|\n|Net changes in purchases and sales of minerals in place|30|4,557|33|\n|Accretion of discount|1,882|1,124|757|\n|Net change in income taxes|-660|-6,694|-627|\n|Timing and other|-14|307|97|\n|Net change for the year|-2,083|4,186|620|\n|Beginning of year|10,601|6,415|5,795|\n|End of year|$8,518|$10,601|$6,415|\n|Net change for the year from discontinued operations|$-216|$162|$-152|\n", + "Information Available on the Company\u2019s Web Site Additional information regarding Snap-on and its products is available on the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on is not including the information contained on its web site as a part of, or incorporating it by reference into, this Annual Report on Form 10-K. Snap-on\u2019s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Definitive Proxy Statements on Schedule 14A and Current Reports on Form 8-K, as well as any amendments to those reports, are made available to the public at no charge, other than an investor\u2019s own internet access charges, through the Investor Information section of the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on makes such material available on its web site as soon as reasonably practicable after it electronically files such material with, or furnishes it to, the Securities and Exchange Commission (\u201cSEC\u201d).", + "Copies of any materials the company files with the SEC can also be obtained free of charge through the SEC\u2019s web site at www.", + "sec.", + "gov.", + "The SEC\u2019s Public Reference Room can be contacted at 100 F Street, N. E. , Washington, D. C. 20549, or by calling 1-800-732-0330.", + "In addition, Snap-on\u2019s (i) charters for the Audit, Corporate Governance and Nominating, and Organization and Executive Compensation Committees of the company\u2019s Board of Directors; (ii) Corporate Governance Guidelines; and (iii) Code of Business Conduct and Ethics are available on Snap-on\u2019s web site.", + "Snap-on will also post any amendments to these documents, or information about any waivers granted to directors or executive officers with respect to the Code of Business Conduct and Ethics, on the company\u2019s web site at www.", + "snapon.", + "com.", + "Products and Services Tools, Diagnostics and Repair Information, and Equipment Snap-on offers a broad line of products and complementary services that are grouped into three product categories: (i) tools; (ii) diagnostics and repair information; and (iii) equipment.", + "Further product line information is not presented as it is not practicable to do so.", + "The following table shows the consolidated net sales of these product categories for the last three years:", + "||Net Sales|\n|(Amounts in millions)|2012|2011|2010|\n|Product Category:||||\n|Tools|$1,729.4|$1,667.3|$1,545.1|\n|Diagnostics and repair information|619.8|613.7|563.3|\n|Equipment|588.7|573.2|510.8|\n||$2,937.9|$2,854.2|$2,619.2|\n", + "The tools product category includes hand tools, power tools and tool storage products.", + "Hand tools include wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments and other similar products.", + "Power tools include cordless (battery), pneumatic (air), hydraulic, and corded (electric) tools, such as impact wrenches, ratchets, chisels, drills, sanders, polishers and similar products.", + "Tool storage includes tool chests, roll cabinets, tool control systems and other similar products.", + "The majority of products are manufactured by Snap-on and, in completing the product offering, other items are purchased from external manufacturers.", + "The diagnostics and repair information product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, OEM purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops manage and track performance.", + "The equipment product category includes solutions for the diagnosis and service of vehicles and industrial equipment.", + "Products include wheel alignment equipment, wheel balancers, tire changers, vehicle lifts, test lane systems, collision repair equipment, air conditioning service equipment, brake service equipment, fluid exchange equipment, transmission troubleshooting equipment, safety testing equipment, battery chargers and hoists.", + "Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after sales support for its customers, primarily focusing on the technologies and the application of specific products developed and marketed by Snap-on.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Segment gross profit of $105.0 million in the fourth quarter of 2012 decreased $1.4 million from 2011 levels.", + "Gross margin of 38.1% in the quarter improved 210 basis points from 36.0% last year primarily due to lower restructuring costs as well as savings from ongoing RCI initiatives, particularly in Europe.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $2.5 million of restructuring costs.", + "Segment operating expenses of $73.1 million in the fourth quarter of 2012 decreased $0.3 million from 2011 levels.", + "The operating expense margin of 26.5% in the quarter increased 170 basis points from 24.8% last year primarily as a result of the lower sales.", + "As a result of these factors, segment operating earnings of $31.9 million in the fourth quarter of 2012, including $1.2 million of favorable foreign currency effects, decreased $1.1 million, or 3.3%, from 2011 levels.", + "Operating margin for the Commercial & Industrial Group of 11.6% in the fourth quarter of 2012 improved 40 basis points from 11.2% last year.", + "Snap-on Tools Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|Segment net sales|$321.6|100.0%|$292.8|100.0%|$28.8|9.8%|\n|Cost of goods sold|-185.8|-57.8%|-168.9|-57.7%|-16.9|-10.0%|\n|Gross profit|135.8|42.2%|123.9|42.3%|11.9|9.6%|\n|Operating expenses|-90.2|-28.0%|-84.3|-28.8%|-5.9|-7.0%|\n|Segment operating earnings|$45.6|14.2%|$39.6|13.5%|$6.0|15.2%|\n", + "Segment net sales of $321.6 million in the fourth quarter of 2012 increased $28.8 million, or 9.8%, from 2011 levels.", + "Excluding $1.4 million of favorable foreign currency translation, organic sales increased $27.4 million, or 9.3%, reflecting high single-digit sales increases across both the company\u2019s U. S. and international franchise operations.", + "Segment gross profit of $135.8 million in the fourth quarter of 2012 increased $11.9 million from 2011 levels.", + "Gross margin of 42.2% in the quarter compared with 42.3% last year.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $0.3 million of restructuring costs.", + "Segment operating expenses of $90.2 million in the fourth quarter of 2012 increased $5.9 million from 2011 levels primarily due to higher volume-related and other expenses.", + "The operating expense margin of 28.0% in the quarter improved 80 basis points from 28.8% last year primarily due to benefits from sales volume leverage.", + "As a result of these factors, segment operating earnings of $45.6 million in the fourth quarter of 2012, including $1.2 million of unfavorable foreign currency effects, increased $6.0 million, or 15.2%, from 2011 levels.", + "Operating margin for the Snap-on Tools Group of 14.2% in the fourth quarter of 2012 increased 70 basis points from 13.5% last year.", + "Repair Systems & Information Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|External net sales|$194.8|80.6%|$193.0|81.6%|$1.8|0.9%|\n|Intersegment net sales|46.8|19.4%|43.5|18.4%|3.3|7.6%|\n|Segment net sales|241.6|100.0%|236.5|100.0%|5.1|2.2%|\n|Cost of goods sold|-130.4|-54.0%|-131.0|-55.4%|0.6|0.5%|\n|Gross profit|111.2|46.0%|105.5|44.6%|5.7|5.4%|\n|Operating expenses|-55.8|-23.1%|-56.3|-23.8%|0.5|0.9%|\n|Segment operating earnings|$55.4|22.9%|$49.2|20.8%|$6.2|12.6%|\n", + "Segment net sales of $241.6 million in the fourth quarter of 2012 increased $5.1 million, or 2.2%, from 2011 levels.", + "Excluding $1.6 million of unfavorable foreign currency translation, organic sales increased $6.7 million, or 2.9%, including low single-digit gains in both sales of diagnostics and repair information products to repair shop owners and managers and sales to OEM dealerships." + ], + "question_id": "simplong-test-283", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Total assets reach in 2014 if it continues to grow at its current rate?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "We have derivative instruments with credit-risk-related contingent features.", + "For foreign exchange contracts with original maturities of at least five years, our derivative counterparties could require settlement if we default on our five-year credit facility.", + "For commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings.", + "The fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position at December 31, 2013 was $7.", + "At December 31, 2013, there was no collateral posted related to our derivatives.", + "Note 18 \u2013 Significant Group Concentrations of Risk Credit Risk Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U. S. government.", + "Of the $10,670 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2013, $4,870 related predominantly to commercial aircraft customers ($924 of accounts receivable and $3,946 of customer financing) and $3,604 related to the U. S. government.", + "Of the $4,020 in gross customer financing, $2,720 related to customers we believe have less than investment-grade credit including American Airlines, United/Continental Airlines, and Hawaiian Airlines who were associated with 11%, 9% and 8%, respectively, of our financing portfolio.", + "Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.", + "Other Risk As of December 31, 2013, approximately 38% of our total workforce was represented by collective bargaining agreements and approximately 1% of our total workforce was represented by agreements expiring in 2014.", + "Note 19 \u2013 Fair Value Measurements The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.", + "The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.", + "Level 1 refers to fair values determined based on quoted prices in active markets for identical assets.", + "Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.", + "||December 31, 2013|December 31, 2012|\n||Total|Level 1|Level 2|Level 3|Total|Level 1|Level 2|Level 3|\n|Assets|||||||||\n|Money market funds|$3,783|$3,783|||$4,534|$4,534|||\n|Available-for-sale investments|8|6||$2|9|6||$3|\n|Derivatives|86||$86||178||$178||\n|Total assets|$3,877|$3,789|$86|$2|$4,721|$4,540|$178|$3|\n|Liabilities|||||||||\n|Derivatives|-$79||-$79||-$84||-$84||\n|Total liabilities|-$79||-$79||-$84||-$84||\n", + "Money market funds and available-for-sale equity securities are valued using a market approach based on the quoted market prices of identical instruments.", + "Available-for-sale debt investments are primarily valued using an income approach based on benchmark yields, reported trades and broker/dealer quotes.", + "on consolidated debt as a percentage of total capital (as defined).", + "When considering debt covenants, we continue to have substantial borrowing capacity.", + "Contractual Obligations The following table summarizes our known obligations to make future payments pursuant to certain contracts as of December 31, 2014, and the estimated timing thereof.", + "|(Dollars in millions)|Total|Lessthan 1year|1-3years|3-5years|After 5years|\n|Long-term debt (including current portion)|$8,950|$870|$1,356|$1,871|$4,853|\n|Interest on debt-1|5,387|431|800|729|3,427|\n|Pension and other postretirement cash requirements|10,965|477|1,080|1,972|7,436|\n|Capital lease obligations|169|67|73|17|12|\n|Operating lease obligations|1,503|226|386|271|620|\n|Purchase obligations not recorded on the Consolidated Statements of Financial Position|131,549|47,249|37,187|20,505|26,608|\n|Purchase obligations recorded on the Consolidated Statements of Financial Position|16,872|15,959|891|5|17|\n|Total contractual obligations|$175,395|$65,279|$41,773|$25,370|$42,973|\n", + "(1) Includes interest on variable rate debt calculated based on interest rates at December 31, 2014.", + "Variable rate debt was 3% of our total debt at December 31, 2014.", + "Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to ERISA regulations, although we may make additional discretionary contributions.", + "Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts.", + "Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable, or indexed price provision; and specify approximate timing of the transaction.", + "Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position.", + "Approximately 4% of the purchase obligations disclosed above are reimbursable to us pursuant to cost-type government contracts.", + "Purchase Obligations Not Recorded on the Consolidated Statements of Financial Position Production related purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, and other miscellaneous production related obligations.", + "The most significant obligation relates to inventory procurement contracts.", + "We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes.", + "In addition, we purchase raw materials on behalf of our suppliers.", + "These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules.", + "The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products.", + "A significant portion of these inventory commitments is supported by firm contracts and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery.", + "These amounts are also included in our forecasts of costs for program and contract accounting.", + "Some inventory procurement contracts may include escalation adjustments.", + "In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above.", + "The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2018 is as follows:", + "||Pension|Other Postretirement Benefits|\n|Recognized net actuarial loss/(gain)|$1,128|-$10|\n|Amortization of prior service (credits)|-56|-126|\n|Total|$1,072|-$136|\n", + "The accumulated benefit obligation (ABO) for all pension plans was $77,414 and $74,240 at December 31, 2017 and 2016.", + "Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:", + "||2017|2016|\n|Projected benefit obligation|$74,953|$76,586|\n|Accumulated benefit obligation|71,975|74,081|\n|Fair value of plan assets|$58,353|$56,530|\n", + "Assumptions The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.", + "|December 31,|2017|2016|2015|\n|Discount rate:||||\n|Pension|3.60%|4.00%|4.20%|\n|Other postretirement benefits|3.30%|3.70%|3.80%|\n|Expected return on plan assets|6.80%|6.80%|7.00%|\n|Rate of compensation increase|5.30%|4.40%|4.00%|\n", + "The discount rate for each plan is determined based on the plans\u2019 expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date.", + "The yield curve is fitted to yields developed from bonds at various maturity points.", + "Bonds with the ten percent highest and the ten percent lowest yields are omitted.", + "A portfolio of about 400 bonds is used to construct the yield curve.", + "Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point.", + "The present value of each plan\u2019s benefits is calculated by applying the discount rates to projected benefit cash flows.", + "All bonds are U. S. issues, with a minimum outstanding of $50.", + "The pension fund\u2019s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes.", + "While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return.", + "The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA).", + "Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets.", + "As of December 31, 2017, the MRVA was approximately $2,260 less than the fair market value of assets.", + "and machine tooling to enhance manufacturing operations, and ongoing replacements of manufacturing and distribution equipment.", + "Capital spending in all three years also included spending for the replacement and enhancement of the company\u2019s global enterprise resource planning (ERP) management information systems, as well as spending to enhance the company\u2019s corporate headquarters and research and development facilities in Kenosha, Wisconsin.", + "Snap-on believes that its cash generated from operations, as well as its available cash on hand and funds available from its credit facilities will be sufficient to fund the company\u2019s capital expenditure requirements in 2013.", + "In 2010, Snap-on acquired the remaining 40% interest in Snap-on Asia Manufacturing (Zhejiang) Co. , Ltd. , the company\u2019s tool manufacturing operation in Xiaoshan, China, for a purchase price of $7.7 million and $0.1 million of transaction costs; Snap-on acquired the initial 60% interest in 2008.", + "See Note 2 to the Consolidated Financial Statements for additional information.", + "Financing Activities Net cash used by financing activities was $127.0 million in 2012.", + "Net cash used by financing activities of $293.7 million in 2011 included the August 2011 repayment of $200 million of unsecured 6.25% notes upon maturity with available cash.", + "In December 2010, Snap-on sold $250 million of unsecured 4.25% long-term notes at a discount; Snap-on is using, and has used, the $247.7 million of proceeds from the sale of these notes, net of $1.6 million of transaction costs, for general corporate purposes, which included working capital, capital expenditures, repayment of all or a portion of the company\u2019s $200 million, 6.25% unsecured notes that matured in August 2011, and the financing of finance and contract receivables, primarily related to SOC.", + "In January 2010, Snap-on repaid $150 million of unsecured floating rate debt upon maturity with available cash.", + "Proceeds from stock purchase and option plan exercises totaled $46.8 million in 2012, $25.7 million in 2011 and $23.7 million in 2010.", + "Snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans, stock options and other corporate purposes.", + "In 2012, Snap-on repurchased 1,180,000 shares of its common stock for $78.1 million under its previously announced share repurchase programs.", + "As of 2012 year end, Snap-on had remaining availability to repurchase up to an additional $180.9 million in common stock pursuant to its Board of Directors\u2019 (the \u201cBoard\u201d) authorizations.", + "The purchase of Snap-on common stock is at the company\u2019s discretion, subject to prevailing financial and market conditions.", + "Snap-on repurchased 628,000 shares of its common stock for $37.4 million in 2011; Snap-on repurchased 152,000 shares of its common stock for $8.7 million in 2010.", + "Snap-on believes that its cash generated from operations, available cash on hand, and funds available from its credit facilities, will be sufficient to fund the company\u2019s share repurchases, if any, in 2013.", + "Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939.", + "Cash dividends paid in 2012, 2011 and 2010 totaled $81.5 million, $76.7 million and $71.3 million, respectively.", + "On November 1, 2012, the company announced that its Board increased the quarterly cash dividend by 11.8% to $0.38 per share ($1.52 per share per year).", + "Quarterly dividends declared in 2012 were $0.38 per share in the fourth quarter and $0.34 per share in the first three quarters ($1.40 per share for the year).", + "Quarterly dividends in 2011 were $0.34 per share in the fourth quarter and $0.32 per share in the first three quarters ($1.30 per share for the year).", + "Quarterly dividends in 2010 were $0.32 per share in the fourth quarter and $0.30 per share in the first three quarters ($1.22 per share for the year)." + ], + "question_id": "simplong-test-284", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average increasing rate of Purchased power between 2017 and 2018? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Rupture\" in Note H to the financial statements in Item 8) ($14 million), offset in part by surcharges for assessments and fees that are collected in revenues from customers ($4 million) and lower municipal infrastructure support costs ($2 million).", + "Depreciation and amortization increased $2 million in 2018 compared with 2017 due primarily to higher steam utility plant balances.", + "Taxes, other than income taxes increased $14 million in 2018 compared with 2017 due primarily to higher property taxes ($13 million) and state and local taxes ($2 million), offset in part by a sales and use tax refund ($1 million).", + "Taxes, Other Than Income Taxes At $2,156 million, taxes other than income taxes remain one of CECONY\u2019s largest operating expenses.", + "The principal components of, and variations in, taxes other than income taxes were:", + "||For the Years Ended December 31,||\n|(Millions of Dollars)|2018|2017|Variation|\n|Property taxes|$1,845|$1,692|$153|\n|State and local taxes related to revenue receipts|330|319|11|\n|Payroll taxes|69|67|2|\n|Other taxes|-88|-21|-67|\n|Total|$2,156(a)|$2,057(a)|$99|\n", + "(a) Including sales tax on customers\u2019 bills, total taxes other than income taxes in 2018 and 2017 were $2,628 and $2,495 million, respectively.", + "Other Income (Deductions) Other income (deductions) decreased $6 million in 2018 compared with 2017 due primarily to an increase in non- service costs related to pension and other postretirement benefits.", + "Net Interest Expense Net interest expense increased $66 million in 2018 compared with 2017 due primarily to higher debt balances in 2018.", + "Income Tax Expense Income taxes decreased $359 million in 2018 compared with 2017 due primarily to lower income before income tax expense ($56 million), a decrease in the corporate federal income tax rate due to the TCJA ($250 million), a decrease in tax benefits for plant-related flow items ($9 million) and an increase in the amortization of excess deferred federal income taxes due to the TCJA ($52 million), offset in part by non-deductible business expenses ($3 million) and a decrease in bad debt write-offs ($4 million).", + "CECONY deferred as a regulatory liability its estimated net benefits for the 2018 period under the TCJA.", + "See \u201cOther Regulatory Matters\u201d in Note B to the financial statements in Item 8.", + "O&R", + "||For the Year Ended December 31, 2018||For the Year Ended December 31, 2017|||\n|(Millions of Dollars)|Electric|Gas|2018 Total|Electric|Gas|2017 Total|2018-2017Variation|\n|Operating revenues|$642|$249|$891|$642|$232|$874|$17|\n|Purchased power|208|\u2014|208|191|\u2014|191|17|\n|Gas purchased for resale|\u2014|86|86|\u2014|73|73|13|\n|Other operations and maintenance|233|72|305|232|64|296|9|\n|Depreciation and amortization|56|21|77|51|20|71|6|\n|Taxes, other than income taxes|52|31|83|53|29|82|1|\n|Operating income|$93|$39|$132|$115|$46|$161|$-29|\n", + "fund\u2019s third-party administrator based upon the valuation of the underlying securities and instruments and primarily by applying a market or income valuation methodology as appropriate depending on the specific type of security or instrument held.", + "Funds-of-funds are valued based upon the net asset values of the underlying investments in hedge funds.", + "Private equity consists of interests in partnerships that invest in U. S. and non-U.", + "S. debt and equity securities.", + "Partnership interests are valued using the most recent general partner statement of fair value, updated for any subsequent partnership interest cash flows.", + "Real estate includes commercial properties, land and timberland, and generally includes, but is not limited to, retail, office, industrial, multifamily and hotel properties.", + "Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments which include inputs such as cost, discounted cash flows, independent appraisals and market based comparable data.", + "Risk Parity Funds are defined as engineered beta exposure to a wide range of asset classes and risk premia, including equity, interest rates, credit, and commodities.", + "Risk parity funds seek to provide high risk-adjusted returns while providing a high level of diversification relative to a traditional equity/fixed income portfolio.", + "These funds seek to achieve this objective with the use of modest leverage applied to lower-risk, more diverse asset classes.", + "Investments in Risk parity funds are valued using monthly reported net asset values.", + "Also included in these funds are related derivative instruments which are generally employed as asset class substitutes for managing asset/liability mismatches, or bona fide hedging or other appropriate risk management purposes.", + "Derivative instruments are generally valued by the investment managers or in certain instances by third-party pricing sources.", + "The fair value measurements using significant unobservable inputs (Level 3) at December 31, 2015 were as follows: Fair Value Measurements Using Significant Unobservable Inputs (Level 3)", + "|In millions|Otherfixedincome|Hedgefunds|Privateequity|Realestate|Risk parity funds|Total|\n|Beginning balance at December 31, 2014|$10|$867|$519|$1,101|$376|$2,873|\n|Actual return on plan assets:|||||||\n|Relating to assets still held at the reporting date|\u2014|27|27|41|-39|56|\n|Relating to assets sold during the period|\u2014|3|-9|27|-7|14|\n|Purchases, sales and settlements|\u2014|-3|-45|-75|10|-113|\n|Transfers in and/or out of Level 3|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Ending balance at December 31, 2015|$10|$894|$492|$1,094|$340|$2,830|\n", + "FUNDING AND CASH FLOWS The Company\u2019s funding policy for the Pension Plan is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the Company may determine to be appropriate considering the funded status of the plans, tax deductibility, cash flow generated by the Company, and other factors.", + "The Company continually reassesses the amount and timing of any discretionary contributions.", + "Contributions to the qualified plan totaling $750 million, $353 million and $31 million were made by the Company in 2015, 2014 and 2013, respectively.", + "Generally, International Paper\u2019s non-U.", + "S. pension plans are funded using the projected benefit as a target, except in certain countries where funding of benefit plans is not required.", + "At December 31, 2015, projected future pension benefit payments, excluding any termination benefits, were as follows:", + "|2016|$782|\n|2017|792|\n|2018|803|\n|2019|818|\n|2020|832|\n|2021 \u2013 2025|4,365|\n", + "OTHER U. S. PLANS International Paper sponsors the International Paper Company Salaried Savings Plan and the International Paper Company Hourly Savings Plan, both of which are tax-qualified defined contribution 401(k) savings plans.", + "The following table presents information related to the major classes of assets and liabilities that were classified as held for sale in our consolidated balance sheet (in millions):", + "||December 31, 2017||\n|Cash, cash equivalents and short-term investments|$13||\n|Trade accounts receivable, less allowances|10||\n|Inventories|11||\n|Prepaid expenses and other assets|12||\n|Other assets|7||\n|Property, plant and equipment \u2014 net|85||\n|Bottlers' franchise rights with indefinite lives|5||\n|Goodwill|103||\n|Other intangible assets|1||\n|Allowance for reduction of assets held for sale|-28||\n|Assets held for sale|$219|1|\n|Accounts payable and accrued expenses|$22||\n|Other liabilities|12||\n|Deferred income taxes|3||\n|Liabilities held for sale|$37|2|\n", + "1 Consists of total assets relating to North America refranchising of $9 million and Latin America bottling operations of $210 million, which are included in the Bottling Investments operating segment.2 Consists of total liabilities relating to North America refranchising of $5 million and Latin America bottling operations of $32 million, which are included in the Bottling Investments operating segment.", + "We determined that the operations included in the table above did not meet the criteria to be classified as discontinued operations under the applicable guidance.", + "Discontinued Operations In October 2017, the Company and ABI completed the transition of ABI\u2019s controlling interest in CCBA to the Company for $3,150 million.", + "We plan to hold a controlling interest in CCBA temporarily.", + "We anticipate that we will divest a portion of our ownership interest in 2019, which will result in the Company no longer having a controlling interest in CCBA.", + "Accordingly, we have presented the financial position and results of operations of CCBA as discontinued operations in the accompanying consolidated financial statements.", + "As CCBA met the criteria to be classified as held for sale, we were required to record their assets and liabilities at the lower of carrying value or fair value less any costs to sell and present the related assets and liabilities as separate line items in our consolidated balance sheet.", + "During the year ended December 31, 2018, we recorded an impairment charge of $554 million, reflecting management\u2019s view of the proceeds that are expected to be received based on revised projections of future operating results and foreign currency exchange rate fluctuations.", + "Refer to Note 17.", + "Upon consolidation of CCBA, we remeasured our previously held equity interests in CCBA and its South African subsidiary to fair value and recorded a gain on the remeasurement of $150 million.", + "The fair values in our previously held equity investments in CCBA and its South African subsidiary were determined using income approaches, including discounted cash flow models (a Level 3 measurement), and the Company believes the inputs and assumptions used are consistent with those hypothetical marketplace participants would use.", + "We recorded $1,805 million for the noncontrolling interests of CCBA.", + "The fair value of the noncontrolling interests was determined in a manner similar to our previously held equity investments.", + "The preliminary goodwill recorded at the time of the transaction was $4,262 million, none of which is tax deductible.", + "This goodwill is in part due to the significant synergies that are expected from the consolidation of the bottling system in Southern and East Africa, especially within the country of South Africa.", + "As a result, upon finalization of purchase accounting $411 million of the final goodwill balance of $4,186 million was allocated to other reporting units expected to benefit from this transaction.", + "During 2018, the Company acquired additional bottling operations in Zambia and Botswana, which have also been included in assets held for sale \u2014 discontinued operations and liabilities held for sale \u2014 discontinued operations.", + "Notes to Consolidated Financial Statements Note 1.", + "Summary of Significant Accounting Policies \u2013 (Continued) accounted for under the previous accounting guidance, FTB No.85-4, where the carrying value of life settlement contracts was the cash surrender value, and revenue was recognized and included in Other revenues on the Consolidated Statements of Income when the life insurance policy underlying the life settlement contract matured.", + "Under the previous accounting guidance, maintenance expenses were expensed as incurred and included in Other operating expenses on the Consolidated Statements of Income.", + "CNA\u2019s investments in life settlement contracts were $129 million and $115 million at December 31, 2008 and 2007 and are included in Other assets on the Consolidated Balance Sheets.", + "The cash receipts and payments related to life settlement contracts are included in Cash flows from operating activities on the Consolidated Statements of Cash Flows for all periods presented.", + "The fair value of each life insurance policy is determined as the present value of the anticipated death benefits less anticipated premium payments for that policy.", + "These anticipated values are determined using mortality rates and policy terms that are distinct for each insured.", + "The discount rate used reflects current risk-free rates at applicable durations and the risks associated with assessing the current medical condition of the insured, the potential volatility of mortality experience for the portfolio and longevity risk.", + "CNA used its own experience to determine the fair value of its portfolio of life settlement contracts.", + "The mortality experience of this portfolio of life insurance policies may vary by quarter due to its relatively small size.", + "The following table details the values for life settlement contracts as of December 31, 2008." + ], + "question_id": "simplong-test-285", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the 20 % of total elements for Carrying amount of Total in 2009? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "During 2010, we granted 3.8 million RSUs and 1.1 million Employee SARs.", + "See Footnote No.4, \u201cShare-Based Compensation,\u201d of the Notes to our Financial Statements for additional information.", + "NEW ACCOUNTING STANDARDS See Footnote No.1, \u201cSummary of Significant Accounting Policies,\u201d of the Notes to our Financial Statements for information related to our adoption of new accounting standards in 2010 and for information on our anticipated adoption of recently issued accounting standards.", + "LIQUIDITY AND CAPITAL RESOURCES Cash Requirements and Our Credit Facilities Our Credit Facility, which expires on May 14, 2012, and associated letters of credit, provide for $2.4 billion of aggregate effective borrowings.", + "Borrowings under the Credit Facility bear interest at the London Interbank Offered Rate (LIBOR) plus a fixed spread based on the credit ratings for our public debt.", + "We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating.", + "For additional information on our Credit Facility, including participating financial institutions, see Exhibit 10, \u201cAmended and Restated Credit Agreement,\u201d to our Current Report on Form 8-K filed with the SEC on May 16, 2007.", + "Although our Credit Facility does not expire until 2012, we expect that we may extend or replace it during 2011.", + "The Credit Facility contains certain covenants, including a single financial covenant that limits our maximum leverage (consisting of Adjusted Total Debt to Consolidated EBITDA, each as defined in the Credit Facility) to not more than 4 to 1.", + "Our outstanding public debt does not contain a corresponding financial covenant or a requirement that we maintain certain financial ratios.", + "We currently satisfy the covenants in our Credit Facility and public debt instruments, including the leverage covenant under the Credit Facility, and do not expect the covenants to restrict our ability to meet our anticipated borrowing and guarantee levels or increase those levels should we need to do so in the future.", + "We believe the Credit Facility, together with cash we expect to generate from operations and our ability to raise capital, remains adequate to meet our short-term and long-term liquidity requirements, finance our long-term growth plans, meet debt service, and fulfill other cash requirements.", + "At year-end 2010, our available borrowing capacity amounted to $2.831 billion and reflected borrowing capacity of $2.326 billion under our Credit Facility and our cash balance of $505 million.", + "We calculate that borrowing capacity by taking $2.404 billion of effective aggregate bank commitments under our Credit Facility and subtracting $78 million of outstanding letters of credit under our Credit Facility.", + "During 2010, we repaid our outstanding Credit Facility borrowings and had no outstanding balance at year-end.", + "As noted in the previous paragraphs, we anticipate that this available capacity will be adequate to fund our liquidity needs.", + "Since we continue to have ample flexibility under the Credit Facility\u2019s covenants, we also expect that undrawn bank commitments under the Credit Facility will remain available to us even if business conditions were to deteriorate markedly.", + "Cash from Operations Cash from operations, depreciation expense, and amortization expense for the last three fiscal years are as follows:", + "|($ in millions)|2010|2009|2008|\n|Cash from operations|$1,151|$868|$641|\n|Depreciation expense|138|151|155|\n|Amortization expense|40|34|35|\n", + "Our ratio of current assets to current liabilities was roughly 1.4 to 1.0 at year-end 2010 and 1.2 to 1.0 at year-end 2009.", + "We minimize working capital through cash management, strict credit-granting policies, and aggressive collection efforts.", + "We also have significant borrowing capacity under our Credit Facility should we need additional working capital.", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 4.", + "Variable Interest Entities \u2014 (continued) the credit-linked note if cumulative losses exceeded the subordination of a synthetic reference portfolio.", + "As of December 31, 2008, the credit default swap entered into by the trust had an outstanding notional amount of $130.0 million.", + "The credit default swap counterparties of the grantor trusts had no recourse to our assets.", + "In October 2009, the grantor trust was terminated and we received $122.2 million in cash.", + "We determined that this grantor trust was a VIE and that we were the primary beneficiary of the trust as we were the sole investor in the trust and the manager of the synthetic reference portfolios.", + "Upon consolidation of the trust, as of December 31, 2008, our consolidated statements of financial position included $93.5 million of available-for-sale fixed maturity securities, which represented the collateral held by the trust.", + "The assets of the trust were held by a trustee and could only be liquidated to settle obligations of the trust.", + "These obligations included losses on the synthetic reference portfolio and the return of investments due to maturity or termination of the trust.", + "As of December 31, 2008, our consolidated statements of financial position included $53.4 million of other liabilities representing derivative market values of the trust.", + "During the year December 31, 2008 and 2007, the credit default swaps had a change in fair value that resulted in a $54.5 million pre-tax loss and $3.2 million pre-tax loss, respectively.", + "During the year ended December 31, 2009, we recognized a pre-tax gain of $49.8 million related to the change in fair value and termination of the credit default swaps.", + "Grantor Trusts.", + "We contributed undated subordinated floating rate notes to three grantor trusts.", + "The trusts separated the cash flows of the underlying $425.9 million par value notes by issuing an interest-only certificate and a residual certificate related to each note contributed.", + "Each interest-only certificate entitles the holder to interest on the stated note for a specified term while the residual certificate entitles the holder to interest payments subsequent to the term of the interest-only certificate and to all principal payments.", + "We retained the interest-only certificate and the residual certificates were subsequently sold to a third party.", + "We have determined that these grantor trusts are VIEs as our interest-only certificates are exposed to the majority of the risk of loss due to interest rate risk.", + "The restricted interest periods end between 2016 and 2020 and, at that time, the residual certificate holders\u2019 certificates are redeemed by the trust in return for the notes.", + "We have determined that it will be necessary for us to consolidate these entities until the expiration of the interest-only period.", + "As of December 31, 2009 and 2008, our consolidated statements of financial position include $226.6 million and $212.2 million, respectively, of undated subordinated floating rate notes of the grantor trusts, which are classified as available-for-sale fixed maturity securities and represent the collateral held by the trust.", + "The obligation to deliver the underlying securities to the residual certificate holders of $89.1 million and $103.8 million as of December 31, 2009 and 2008, respectively, is classified as an other liability and contains an embedded derivative of the forecasted transaction to deliver the underlying securities.", + "The creditors of the grantor trusts have no recourse to our assets.", + "Other.", + "In addition to the entities above, we have a number of relationships with a disparate group of entities, which meet the criteria for VIEs.", + "Due to the nature of our direct investment in the equity and/or debt of these VIEs, we are the primary beneficiary of such entities, which requires us to consolidate them.", + "These entities include five private investment vehicles and several hedge funds.", + "The consolidation of these VIEs did not have a material effect on either our consolidated statements of financial position as of December 31, 2009 or 2008, or results of operations for the years ended December 31, 2009, 2008 and 2007.", + "For these entities, the creditors have no recourse to our assets.", + "The carrying amount and classification of other consolidated VIE assets that are pledged as collateral that the VIEs have designated for their other obligations and the debt of the VIEs are as follows:", + "| | December 31,|\n| | 2009| 2008|\n| |(in millions) |\n|Fixed maturity securities, available-for-sale|$59.2|$103.8|\n|Fixed maturity securities, trading|19.8|17.2|\n|Equity securities, trading|90.9|30.7|\n|Cash and other assets|119.8|140.8|\n|Total assets pledged as collateral|$289.7|$292.5|\n|Long-term debt and other obligations|$178.9|$248.6|\n", + "The assets of the trusts are held by a trustee and can only be liquidated to settle obligations of the trusts.", + "These obligations primarily include unrealized losses on derivatives, the synthetic reference portfolios or financial guarantees and the return of investments due to maturity or termination of the trusts.", + "As of December 31, 2009 and 2008, these", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 5.", + "Investments \u2014 (continued) Each reporting period, all securities are reviewed to determine whether an other-than-temporary decline in value exists and whether losses should be recognized.", + "We consider relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other than temporary.", + "Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events and (4) for fixed maturity securities, our intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity and for equity securities, our ability and intent to hold the security for a period of time that allows for the recovery in value.", + "Prior to 2009, our ability and intent to hold fixed maturity securities for a period of time that allowed for a recovery in value was considered rather than our intent to sell these securities.", + "To the extent we determine that a security is deemed to be other than temporarily impaired, an impairment loss is recognized.", + "Impairment losses on equity securities are recognized in net income and are measured as the difference between amortized cost and fair value.", + "The way in which impairment losses on fixed maturity securities are now recognized in the financial statements is dependent on the facts and circumstances related to the specific security.", + "If we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, we recognize an other-than-temporary impairment in net income for the difference between amortized cost and fair value.", + "If we do not expect to recover the amortized cost basis, we do not plan to sell the security and if it is not more likely than not that we would be required to sell a security before the recovery of its amortized cost, less any current period credit loss, the recognition of the other-than-temporary impairment is bifurcated.", + "We recognize the credit loss portion in net income and the noncredit loss portion in OCI.", + "Prior to 2009, other-than-temporary impairments on fixed maturity securities were recorded in net income in their entirety and the amount recognized was the difference between amortized cost and fair value.", + "We estimate the amount of the credit loss component of a fixed maturity security impairment as the difference between amortized cost and the present value of the expected cash flows of the security.", + "The present value is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security.", + "The methodology and assumptions for establishing the best estimate cash flows vary depending on the type of security.", + "The asset-backed securities cash flow estimates are based on bond specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees.", + "The corporate bond cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or liquidations using bond specific facts and circumstances including timing, security interests and loss severity.", + "Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities, were as follows:", + "||For the year ended December 31,|\n||2009|2008|2007|\n||(in millions)|\n|Fixed maturities, available-for-sale|$-693.6|$-432.0|$-262.8|\n|Equity securities, available-for-sale|-20.5|-47.3|-51.3|\n|Total other-than-temporary impairment losses, net of recoveries from the sale of previously impaired securities|$-714.1|$-479.3|$-314.1|\n", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 10.", + "Debt \u2014 (continued) Long-Term Debt The components of long-term debt as of December 31, 2009 and 2008, were as follows:", + "| | December 31,|\n| | 2009| 2008|\n| |(in millions) |\n|8.2% notes payable, due 2009|$\u2014|$454.9|\n|3.31% notes payable, due 2011|61.2|49.9|\n|3.63% notes payable, due 2011|31.4|25.6|\n|7.875% notes payable, due 2014|400.0|\u2014|\n|8.875% notes payable, due 2019|350.0|\u2014|\n|6.05% notes payable, due 2036|601.8|601.8|\n|8% surplus notes payable, due 2044|99.2|99.2|\n|Non-recourse mortgages and notes payable|40.6|58.7|\n|Other mortgages and notes payable|0.4|0.4|\n|Total long-term debt|$1,584.6|$1,290.5|\n", + "The amounts included above are net of the discount and premium associated with issuing these notes, which are being amortized to expense over their respective terms using the interest method.", + "On May 18, 2009, we issued $750.0 million of senior notes.", + "We issued a $400.0 million series of notes that bear interest at 7.875% and will mature on May 15, 2014, and a $350.0 million series of notes that bear interest at 8.875% and will mature on May 15, 2019.", + "Interest on the notes is payable semi-annually on May 15 and November 15 each year, beginning on November 15, 2009.", + "The proceeds were primarily used to refinance $440.9 million of notes that matured on August 15, 2009, with the remaining proceeds being used for general corporate purposes.", + "On October 16 and December 5, 2006, we issued $500.0 million and $100.0 million, respectively, of senior notes.", + "The notes bear interest at a rate of 6.05% per year.", + "Interest on the notes is payable semi-annually on April 15 and October 15 each year and began on April 15, 2007.", + "The notes will mature on October 15, 2036.", + "A portion of the proceeds were used to fund the 2006 acquisition of WM Advisors, Inc. , with the remaining proceeds being used for general corporate purposes.", + "On November 3, 2005, Principal International de Chile S. A. , a wholly owned indirect subsidiary, entered into long-term borrowing agreements with two Chilean banks in the amount of US $93.9 million.", + "This debt is denominated in Unidades de Formento (\u2018\u2018UF\u2019\u2019), a Chilean inflation-indexed, peso-denominated monetary unit.", + "Of this amount, US $49.0 million of UF +3.31% notes, which was refinanced from +4.59% during 2007, and US $44.9 million of UF +3.63% notes, which was refinanced from +4.93% in 2007, mature on November 3, 2011.", + "Interest on the notes is payable semi-annually on May 3 and November 3 each year.", + "The debt outstanding and interest expense will vary due to fluctuations in the Chilean peso to US dollar exchange rates and Chilean inflation.", + "On August 25, 1999, Principal Financial Group (Australia) Holdings Pty.", + "Limited, a wholly owned indirect subsidiary, issued $665.0 million of unsecured redeemable long-term debt.", + "Principal Financial Group (Australia) Holdings Pty.", + "Limited used the net proceeds from the notes to partially fund the purchase of the outstanding stock of several companies affiliated with Bankers Trust Australia Group.", + "On December 28, 2001, all of the long-term debt obligations of Principal Financial Group (Australia) Holdings Pty.", + "Limited were assumed by its parent, Principal Financial Services, Inc. Of the original amount issued, $200.0 million of 7.95% notes matured on August 15, 2004, with the remaining $465.0 million in 8.2% notes maturing on August 15, 2009.", + "The note was paid in full during 2009.", + "On March 10, 1994, Principal Life issued $100.0 million of surplus notes due March 1, 2044, at an 8% annual interest rate.", + "None of our affiliates hold any portion of the notes.", + "Each payment of interest and principal on the notes, however, may be made only with the prior approval of the Commissioner of Insurance of the State of Iowa (the \u2018\u2018Commissioner\u2019\u2019) and only to the extent that Principal Life has sufficient surplus earnings to make such payments.", + "Interest of $8.0 million for each of the years ended December 31, 2009, 2008 and 2007 was approved by the Commissioner, and charged to expense.", + "Subject to Commissioner approval, the notes due March 1, 2044, may be redeemed at Principal Life\u2019s election on or after March 1, 2014, in whole or in part at a redemption price of approximately 102.3% of par.", + "The approximate 2.3% premium is scheduled to gradually diminish over the following ten years.", + "These notes may be redeemed on or after March 1, 2024, at a redemption price of 100% of the principal amount plus interest accrued to the date of redemption.", + "The non-recourse mortgages, other mortgages and notes payable are primarily financings for real estate developments.", + "Outstanding principal balances as of December 31, 2009, ranged from $5.9 million to $9.1 million per", + "| | December 31, 2008|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$3,086.0|$194.4|$1,188.1|$99.5|$4,274.1|$293.9|\n|Greater than three to six months|4,213.7|467.9|1,673.6|236.4|5,887.3|704.3|\n|Greater than six to nine months|3,014.0|620.7|1,566.6|290.6|4,580.6|911.3|\n|Greater than nine to twelve months|2,321.0|743.0|1,259.7|460.1|3,580.7|1,203.1|\n|Greater than twelve to twenty-four months|3,042.0|1,507.5|2,217.1|1,519.7|5,259.1|3,027.2|\n|Greater than twenty-four to thirty-six months|1,045.2|296.1|312.5|217.1|1,357.7|513.2|\n|Greater than thirty-six months|1,363.8|423.5|698.2|265.8|2,062.0|689.3|\n|Total fixed maturity securities, available-for-sale|$18,085.7|$4,253.1|$8,915.8|$3,089.2|$27,001.5|$7,342.3|\n", + "The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on below investment grade fixed maturity securities available-for-sale by aging category for the time periods indicated.", + "| | December 31, 2009|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$55.7|$3.3|$52.8|$1.2|$108.5|$4.5|\n|Greater than three to six months|3.4|\u2014|14.8|\u2014|18.2|\u2014|\n|Greater than six to nine months|12.7|0.2|0.1|0.1|12.8|0.3|\n|Greater than nine to twelve months|32.8|11.2|1.0|1.8|33.8|13.0|\n|Greater than twelve to twenty-four months|441.3|112.2|365.6|186.7|806.9|298.9|\n|Greater than twenty-four to thirty-six months|609.0|314.8|403.5|435.8|1,012.5|750.6|\n|Greater than thirty-six months|113.8|26.8|84.6|76.6|198.4|103.4|\n|Total fixed maturity securities, available-for-sale|$1,268.7|$468.5|$922.4|$702.2|$2,191.1|$1,170.7|\n", + "December 31, 2008", + "| | December 31, 2008|\n| | Public| Private| Total|\n| | Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses| Carrying amount| Gross unrealized losses|\n| |(in millions) |\n|Three months or less|$133.1|$56.5|$114.6|$32.1|$247.7|$88.6|\n|Greater than three to six months|88.8|12.7|297.1|74.3|385.9|87.0|\n|Greater than six to nine months|102.5|42.9|129.1|46.5|231.6|89.4|\n|Greater than nine to twelve months|163.0|65.9|44.5|43.7|207.5|109.6|\n|Greater than twelve to twenty-four months|242.0|151.7|351.8|239.5|593.8|391.2|\n|Greater than twenty-four to thirty-six months|41.2|26.1|13.3|21.4|54.5|47.5|\n|Greater than thirty-six months|100.3|29.7|100.9|30.3|201.2|60.0|\n|Total fixed maturity securities, available-for-sale|$870.9|$385.5|$1,051.3|$487.8|$1,922.2|$873.3|\n", + "The following tables present the carrying amount and the gross unrealized losses, including other-than-temporary impairment losses reported in OCI, on fixed maturity securities available-for-sale where the estimated fair value has declined and remained below amortized cost by 20% or more as the time periods indicate." + ], + "question_id": "simplong-test-286", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Foreign currency forwards in the years where Interest rate caps greater than 0? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MetLife, Inc. Notes to Consolidated Financial Statements \u2014 (Continued) $4.3 billion, of which $1.6 billion is deductible for income tax purposes.", + "Further information on goodwill is described in Note 6.", + "See Note 5 for the VOBA acquired as part of the acquisition and Note 7 for the value of distribution agreements (\u201cVODA\u201d) and the value of customer relationships acquired (\u201cVOCRA\u201d).", + "As part of the integration of Travelers\u2019 operations, management approved and initiated plans to reduce approximately 1,000 domestic and international Travelers positions, which was completed in December 2006.", + "MetLife initially recorded restructuring costs, including severance, relocation and outplacement services of Travelers\u2019 employees, as liabilities assumed in the purchase business combination of $49 million.", + "For the years ended December 31, 2006 and 2005, the liability for restructuring costs was reduced by $4 million and $1 million, respectively, due to a reduction in the estimate of severance benefits to be paid to Travelers employees.", + "The restructuring costs associated with the Travelers acquisition were as follows:", + "||Years Ended December 31,|\n||2006|2005|\n||(In millions)|\n|Balance at January 1,|$28|$\u2014|\n|Acquisition|\u2014|49|\n|Cash payments|-24|-20|\n|Other reductions|-4|-1|\n|Balance at December 31,|$\u2014|$28|\n", + "Other Acquisitions and Dispositions On June 28, 2007, the Company acquired the remaining 50% interest in a joint venture in Hong Kong, MetLife Fubon Limited (\u201cMetLife Fubon\u201d), for $56 million in cash, resulting in MetLife Fubon becoming a consolidated subsidiary of the Company.", + "The transaction was treated as a step acquisition, and at June 30, 2007, total assets and liabilities of MetLife Fubon of $839 million and $735 million, respectively, were included in the Company\u2019s consolidated balance sheet.", + "The Company\u2019s investment for the initial 50% interest in MetLife Fubon was $48 million.", + "The Company used the equity method of accounting for such investment in MetLife Fubon.", + "The Company\u2019s share of the joint venture\u2019s results for the six months ended June 30, 2007, was a loss of $3 million.", + "The fair value of the assets acquired and the liabilities assumed in the step acquisition at June 30, 2007, was $427 million and $371 million, respectively.", + "No additional goodwill was recorded as a part of the step acquisition.", + "As a result of this acquisition, additional VOBA and VODA of $45 million and $5 million, respectively, were recorded and both have a weighted average amortization period of 16 years.", + "Further information on VOBA and VODA is described in Note 5 and Note 7, respectively.", + "On June 1, 2007, the Company completed the sale of its Bermuda insurance subsidiary, MetLife International Insurance, Ltd. (\u201cMLII\u201d), to a third party for $33 million in cash consideration, resulting in a gain upon disposal of $3 million, net of income tax.", + "The net assets of MLII at disposal were $27 million.", + "A liability of $1 million was recorded with respect to a guarantee provided in connection with this disposition.", + "Further information on guarantees is described in Note 16.", + "On September 1, 2005, the Company completed the acquisition of CitiStreet Associates, a division of CitiStreet LLC, which is primarily involved in the distribution of annuity products and retirement plans to the education, healthcare, and not-for-profit markets, for $56 million, of which $2 million was allocated to goodwill and $54 million to other identifiable intangibles, specifically the value of customer relationships acquired, which have a weighted average amortization period of 16 years.", + "CitiStreet Associates was integrated with MetLife Resources, a focused distribution channel of MetLife, which is dedicated to provide retirement plans and financial services to the same markets.", + "Further information on goodwill and VOCRA is described in Note 6 and Note 7, respectively.", + "See Note 23 for information on the disposition of the annuities and pension businesses of MetLife Insurance Limited (\u201cMetLife Australia\u201d), P. T. Sejahtera (\u201cMetLife Indonesia\u201d) and SSRM Holdings, Inc. (\u201cSSRM\u201d).", + "See Note 25 for information on the Company\u2019s acquisitions subsequent to December 31, 2007.", + "investment income attributable to higher yields was primarily due to higher returns on fixed maturity securities, other limited partnership interests excluding hedge funds, equity securities and improved securities lending results, partially offset by lower returns on real estate joint ventures, cash, cash equivalents and short-term investments, hedge funds and mortgage loans.", + "Management anticipates that investment income and the related yields on other limited partnership interests may decline during 2008 due to increased volatility in the equity and credit markets during 2007.", + "Interest Margin Interest margin, which represents the difference between interest earned and interest credited to policyholder account balances increased in the Institutional and Individual segments for the year ended December 31, 2007 as compared to the prior year.", + "Interest earned approximates net investment income on investable assets attributed to the segment with minor adjustments related to the consolidation of certain separate accounts and other minor non-policyholder elements.", + "Interest credited is the amount attributed to insurance products, recorded in policyholder benefits and claims, and the amount credited to policyholder account balances for investment-type products, recorded in interest credited to policyholder account balances.", + "Interest credited on insurance products reflects the current year impact of the interest rate assumptions established at issuance or acquisition.", + "Interest credited to policyholder account balances is subject to contractual terms, including some minimum guarantees.", + "This tends to move gradually over time to reflect market interest rate movements and may reflect actions by management to respond to competitive pressures and, therefore, generally does not introduce volatility in expense.", + "Net Investment Gains (Losses) Net investment losses decreased by $644 million to a loss of $738 million for the year ended December 31, 2007 from a loss of $1,382 million for the comparable 2006 period.", + "The decrease in net investment losses was primarily due to a reduction of losses on fixed maturity securities resulting principally from the 2006 portfolio repositioning in a rising interest rate environment, increased gains from asset-based foreign currency transactions due to a decline in the U. S. dollar year over year against several major currencies and increased gains on equity securities, partially offset by increased losses from the mark-to-market on derivatives and reduced gains on real estate and real estate joint ventures.", + "Underwriting Underwriting results are generally the difference between the portion of premium and fee income intended to cover mortality, morbidity or other insurance costs, less claims incurred, and the change in insurance-related liabilities.", + "Underwriting results are significantly influenced by mortality, morbidity or other insurance-related experience trends, as well as the reinsurance activity related to certain blocks of business.", + "Consequently, results can fluctuate from period to period.", + "Underwriting results, excluding catastrophes, in the Auto & Home segment were less favorable for the year ended December 31, 2007, as the combined ratio, excluding catastrophes, increased to 86.3% from 82.8% for the year ended December 31, 2006.", + "Underwriting results were favorable in the non-medical health & other, group life and retirement & savings businesses in the Institutional segment.", + "Underwriting results were unfavorable in the life products in the Individual segment.", + "Other Expenses Other expenses increased by $890 million, or 8%, to $11,673 million for the year ended December 31, 2007 from $10,783 million for the comparable 2006 period.", + "The following table provides the change from the prior year in other expenses by segment:", + "|||% of Total|\n||$ Change (In millions)|$ Change|\n|Individual|$512|57%|\n|International|219|25|\n|Institutional|124|14|\n|Corporate & Other|51|6|\n|Auto & Home|-15|-2|\n|Reinsurance|-1|\u2014|\n|Total change|$890|100%|\n", + "The Individual segment contributed to the year over year increase in other expenses primarily due to higher DAC amortization, higher expenses associated with business growth, information technology and other general expenses, the impact of revisions to certain liabilities, including pension and postretirement liabilities and policyholder liabilities in the prior year, and a write-off of a receivable in the current year.", + "The International segment contributed to the year over year increase in other expenses primarily due to the business growth commensurate with the increase in revenues discussed above.", + "It was driven by the following factors: ?", + "Argentina\u2019s other expenses increased primarily due to a liability for servicing obligations that was established as a result of pension reform, an increase in commissions on bancassurance business, an increase in retention incentives related to pension reform, and the impact of management\u2019s update of DAC assumptions as a result of pension reform and growth, partially offset by a lower increase in liabilities due to inflation and exchange rate indexing. ?", + "South Korea\u2019s other expenses increased primarily due to the favorable impact in DAC amortization associated with the implemen\u0002tation of a more refined reserve valuation system in the prior year, additional expenses associated with growth and infrastructure initiatives, as well as business growth and higher bank insurance fees, partially offset by a decrease in DAC amortization. ?", + "Mexico\u2019s other expenses increased due to higher expenses related to business growth and the favorable impact in the prior year of liabilities that were reduced, offset by a decrease in DAC amortization resulting from management\u2019s update of assumptions used to determine estimated gross profits in both the current and prior years and a decrease in liabilities based on a review of outstanding remittances.", + "The following table provides the change in income from continuing operations by segment, excluding Travelers, and certain transactions as mentioned above:", + "|||% of Total|\n||$ Change (In millions)|$ Change|\n|Institutional|$-319|-140%|\n|Individual|-68|-30|\n|International|-33|-15|\n|Corporate & Other|-25|-11|\n|Auto & Home|192|85|\n|Reinsurance|26|11|\n|Total change, net of income tax|$-227|-100%|\n", + "The Institutional segment\u2019s income from continuing operations decreased primarily due to an increase in net investment losses, a decline in interest margins, an increase in operating expenses, which included a charge associated with costs related to the sale of certain small market recordkeeping businesses, a charge associated with non-deferrable LTC commissions expense and a charge associated with costs related to a previously announced regulatory settlement, partially offset by the impact of integration costs in the prior year and favorable underwriting results.", + "The Individual segment\u2019s income from continuing operations decreased as a result of an increase in net investment losses, a decline in interest margins, higher expenses and annuity benefits, as well as increases in interest credited to policyholder account balances and policyholder dividends.", + "These decreases were partially offset by increased fee income related to the growth in separate account products, favorable underwriting results in life products, lower DAC amortization and a decrease in the closed block-related policyholder dividend obligation.", + "Income from continuing operations in Corporate & Other decreased primarily due to higher investment losses, higher interest expense on debt, corporate support expenses, interest credited to bankholder deposits and legal-related costs, partially offset by an increase in tax benefits, an increase in net investment income, lower integration costs and an increase in other revenues.", + "The decrease in income from continuing operations in the International segment was primarily attributable to the following factors: ?", + "Taiwan had a decrease due to a loss recognition adjustment and a restructuring charge, partially offset by reserve refinements associated with the implementation of a new valuation system. ?", + "Income from continuing operations decreased in Canada primarily due to the realignment of economic capital in the prior year. ?", + "Income from continuing operations in Mexico decreased primarily due to an increase in amortization of DAC, higher operating expenses, the net impact of an adjustment to the liability for experience refunds on a block of business, a decrease in various one\u0002time other revenue items in both periods, as well as an increase in income tax expense due to a tax benefit realized in the prior year.", + "These decreases in Mexico were partially offset by a decrease in certain policyholder liabilities caused by a decrease in unrealized investment gains on invested assets supporting those liabilities relative to the prior year, a decrease in policyholder benefits associated with a large group policy that was not renewed by the policyholder, a benefit in the current year from the release of liabilities for pending claims that were determined to be invalid following a review, and the unfavorable impact in the prior year of contingent liabilities. ?", + "In addition, a decrease in Brazil was primarily due to an increase in policyholder benefits and claims related to an increase in future policyholder benefit liabilities on specific blocks of business and an increase in litigation liabilities, as well as adverse claim experience in the current year. ?", + "The home office recorded higher infrastructure expenditures in support of segment growth, as well as a contingent tax liability.", + "This was offset by a reduction in the amount charged for economic capital. ?", + "Results of the Company\u2019s investment in Japan decreased primarily due to variability in the hedging program. ?", + "In addition, expenses related to the Company\u2019s start-up operations in Ireland reduced income from continuing operations.", + "A valuation allowance was established against the deferred tax benefit resulting from the Ireland losses. ?", + "Partially offsetting these decreases in income from continuing operations were increases in Chile and the United Kingdom due to continued growth of the in-force business. ?", + "In addition, an increase occurred in Australia due to reserve strengthening on a block of business in the prior year. ?", + "South Korea\u2019s income from continuing operations increased due to growth in the in-force business and the implementation of a more refined reserve valuation system. ?", + "Argentina\u2019s income from continuing operations increased due to higher net investment income resulting from capital contributions, the release of liabilities for pending claims that were determined to be invalid following a review, the favorable impact of foreign currency exchange rates and inflation rates on certain contingent liabilities, the utilization of net operating losses for which a valuation allowance had been previously established, and an increase in the prior year period of a deferred income tax valuation allowance, as well as business growth.", + "Changes in foreign currency exchange rates also contributed to the increase.", + "Partially offsetting the decreases in income from continuing operations was an increase in the Auto & Home segment primarily due to a loss in the third quarter of 2005 related to Hurricane Katrina, favorable development of prior year loss reserves, improvement in non\u0002catastrophe loss experience and a reduction in loss adjustment expenses.", + "These increases were partially offset by higher catastrophe losses, excluding Hurricanes Katrina and Wilma, in the current year period, and decreases in net earned premiums, other revenues, and net investment income, as well as an increase in other expenses.", + "Income from continuing operations in the Reinsurance segment increased primarily due to added business in-force from facultative and automatic treaties and renewal premiums on existing blocks of business in the U. S. and international operations, an increase in net investment income due to growth in the invested asset base and an increase in other revenues.", + "These items were partially offset by unfavorable mortality experience, an increase in liabilities associated with Reinsurance Group of America, Incorporated\u2019s (\u201cRGA\u201d) Argentine", + "The following table presents the notional amount and current market or fair value of derivative financial instruments held at:", + "|| December 31, 2007| December 31, 2006|\n|| Notional | Current Market or Fair Value| Notional | Current Market or Fair Value|\n|| Amount| Assets| Liabilities| Amount| Assets| Liabilities|\n|| (In millions)|\n|Interest rate swaps|$62,519|$785|$768|$27,148|$639|$150|\n|Interest rate floors|48,937|621|\u2014|37,437|279|\u2014|\n|Interest rate caps|45,498|50|\u2014|26,468|125|\u2014|\n|Financial futures|10,817|89|57|8,432|64|39|\n|Foreign currency swaps|21,399|1,480|1,724|19,627|986|1,174|\n|Foreign currency forwards|4,185|76|16|2,934|31|27|\n|Options|2,043|713|1|587|306|8|\n|Financial forwards|4,600|122|2|3,800|12|40|\n|Credit default swaps|6,850|58|35|6,357|5|21|\n|Synthetic GICs|3,670|\u2014|\u2014|3,739|\u2014|\u2014|\n|Other|250|43|\u2014|250|56|\u2014|\n|Total|$210,768|$4,037|$2,603|$136,779|$2,503|$1,459|\n", + "The above table does not include notional amounts for equity futures, equity variance swaps, and equity options.", + "At December 31, 2007 and 2006, the Company owned 4,658 and 2,749 equity futures, respectively.", + "Fair values of equity futures are included in financial futures in the preceding table.", + "At December 31, 2007 and 2006, the Company owned 695,485 and 225,000 equity variance swaps, respectively.", + "Fair values of equity variance swaps are included in financial forwards in the preceding table.", + "At December 31, 2007 and 2006, the Company owned 77,374,937 and 74,864,483 equity options, respectively.", + "Fair values of equity options are included in options in the preceding table.", + "Credit Risk.", + "The Company may be exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments.", + "Generally, the current credit exposure of the Company\u2019s derivative contracts is limited to the fair value at the reporting date.", + "The credit exposure of the Company\u2019s derivative transactions is represented by the fair value of contracts with a net positive fair value at the reporting date.", + "The Company manages its credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counter\u0002parties, maintaining collateral arrangements and through the use of master agreements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination.", + "Because exchange traded futures are effected through regulated exchanges, and positions are marked to market on a daily basis, the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to such derivative instruments.", + "The Company enters into various collateral arrangements, which require both the pledging and accepting of collateral in connection with its derivative instruments.", + "As of December 31, 2007 and 2006, the Company was obligated to return cash collateral under its control of $833 million and $428 million, respectively.", + "This unrestricted cash collateral is included in cash and cash equivalents and the obligation to return it is included in payables for collateral under securities loaned and other transactions in the consolidated balance sheets.", + "As of December 31, 2007 and 2006, the Company had also accepted collateral consisting of various securities with a fair market value of $678 million and $453 million, respectively, which are held in separate custodial accounts.", + "The Company is permitted by contract to sell or repledge this collateral, but as of December 31, 2007 and 2006, none of the collateral had been sold or repledged.", + "As of December 31, 2007 and 2006, the Company provided collateral of $162 million and $80 million, respectively, which is included in fixed maturity securities in the consolidated balance sheets.", + "In addition, the Company has exchange traded futures, which require the pledging of collateral.", + "As of December 31, 2007 and 2006, the Company pledged collateral of $167 million and $105 million, respectively, which is included in fixed maturity securities.", + "The counterparties are permitted by contract to sell or repledge this collateral.", + "Additionally, in October 2013, our board of directors declared a quarterly cash dividend of $0.40 per share of class A common stock (determined in the case of class B and C common stock, on an as-converted basis) payable on December 3, 2013, to holders of record as of November 15, 2013 of our class A, B and C common stock.", + "Subject to legally available funds, we expect to continue paying quarterly cash dividends on our outstanding class A, B and C common stock in the future.", + "However, the declaration and payment of future dividends is at the sole discretion of our board of directors after taking into account various factors, including, but not limited to, our financial condition, settlement indemnifications, operating results, available cash and current and anticipated cash needs.", + "Issuer Purchases of Equity Securities The table below sets forth the information with respect to purchases of the Company\u2019s common stock made by or on behalf of the Company during the quarter ended September 30, 2013." + ], + "question_id": "simplong-test-287", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "How much is the Total expenses for Corporate Benefit Funding less than the 50% of the sum of all Total expenses? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of the Company\u2019s common stock with (1) the Standard & Poor\u2019s (S&P) 500?", + "Index, (2) the S&P 500?", + "Materials Index, a group of 25 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector, (3) the S&P Aerospace & Defense Select Industry Index, a group of 33 companies categorized by Standard & Poor\u2019s as active in the \u201caerospace & defense\u201d industry and (4) the S&P 500?", + "Industrials Index, a group of 69 companies categorized by Standard & Poor\u2019s as active in the \u201cindustrials\u201d market sector.", + "The graph assumes, in each case, an initial investment of $100 on December 31, 2013, and the reinvestment of dividends.", + "Historical prices prior to the separation of Alcoa Corporation from the Company on November 1, 2016, have been adjusted to reflect the value of the Separation transaction.", + "The graph, table and related information shall not be deemed to be \u201cfiled\u201d with the SEC, nor shall such information be incorporated by reference into future filings under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.", + "Please note that the Company intends to replace the S&P 500?", + "Materials Index with the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index in subsequent stock performance graphs.", + "We believe that the companies and industries represented in the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index better reflect the markets in which the Company currently participates.", + "All three indices are represented in the graph below.", + "|As of December 31,|2013|2014|2015|2016|2017|2018|\n|Arconic Inc.|$100|$149.83|$94.62|$80.22|$119.02|$74.47|\n|S&P 500\u00aeIndex|100|113.69|115.26|129.05|157.22|150.33|\n|S&P 500\u00aeMaterials Index|100|106.91|97.95|114.30|141.55|120.74|\n|S&P Aerospace & Defense Select Industry Index|100|111.43|117.49|139.70|197.50|181.56|\n|S&P 500\u00aeIndustrials Index|100|109.83|107.04|127.23|153.99|133.53|\n", + "Copyright?2019 Standard & Poor's, a division of S&P Global.", + "All rights reserved", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2010|$415|$15|$287|\n|2011|$357|$17|$237|\n|2012|$288|$16|$190|\n|2013|$253|$15|$169|\n|2014|$221|$9|$119|\n|Thereafter|$723|$44|$994|\n", + "During 2008, the Company moved certain of its operations in New York from Long Island City to New York City.", + "As a result of this movement of operations and current market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Banking, Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "During 2009, pending sublease deals were impacted by the further decline of market conditions, which resulted in an additional lease impairment charge of $52 million.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.1 billion and $4.5 billion at December 31, 2009 and 2008, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $2.7 billion and $8.0 billion at December 31, 2009 and 2008, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards in Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $2.2 billion and $2.7 billion at December 31, 2009 and 2008, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.3 billion and $1.0 billion at December 31, 2009 and 2008, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.6 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Options.", + "Additional shares carried forward from the Stock Incentive Plan and available for issuance under the 2005 Stock Plan were 13,018,939 at December 31, 2009.", + "There were no shares carried forward from the 2000 Directors Stock Plan.", + "Each share issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares.", + "The number of shares reserved for issuance under the 2005 Directors Stock Plan are 2,000,000.", + "At December 31, 2009, the aggregate number of shares remaining available for issuance pursuant to the 2005 Stock Plan and the 2005 Directors Stock Plan were 47,903,044 and 1,838,594, respectively.", + "Stock Option exercises and other stock-based awards to employees settled in shares are satisfied through the issuance of shares held in treasury by the Company.", + "Under the current authorized share repurchase program, as described previously, sufficient treasury shares exist to satisfy foreseeable obligations under the Incentive Plans.", + "Compensation expense related to awards under the Incentive Plans is recognized based on the number of awards expected to vest, which represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant.", + "Unless a material deviation from the assumed rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual experience is recognized in the period the award becomes payable or exercisable.", + "Compensation expense of $69 million, $123 million and $146 million, and income tax benefits of $24 million, $43 million and $51 million, related to the Incentive Plans was recognized for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Compensation expense is principally related to the issuance of Stock Options, Performance Shares and Restricted Stock Units.", + "The majority of the awards granted by the Holding Company are made in the first quarter of each year.", + "Stock Options All Stock Options granted had an exercise price equal to the closing price of the Holding Company\u2019s common stock as reported on the New York Stock Exchange on the date of grant, and have a maximum term of ten years.", + "Certain Stock Options granted under the Stock Incentive Plan and the 2005 Stock Plan have or will become exercisable over a three year period commencing with the date of grant, while other Stock Options have or will become exercisable three years after the date of grant.", + "Stock Options issued under the 2000 Directors Stock Plan were exercisable immediately.", + "The date at which a Stock Option issued under the 2005 Directors Stock Plan becomes exercisable would be determined at the time such Stock Option is granted.", + "A summary of the activity related to Stock Options for the year ended December 31, 2009 is presented below.", + "The aggregate intrinsic value was computed using the closing share price on December 31, 2009 of $35.35 and December 31, 2008 of $34.86, as applicable.", + "||Shares Under| Weighted Average | Weighted Average Remaining Contractual Term (Years)| Aggregate Intrinsic Value (In millions)|\n||Option| Exercise Price|\n|Outstanding at January 1, 2009|26,158,275|$41.73|5.73|$\u2014|\n|Granted|5,450,662|$23.61|||\n|Exercised|-254,576|$30.23|||\n|Cancelled/Expired|-794,655|$39.79|||\n|Forfeited|-407,301|$48.72|||\n|Outstanding at December 31, 2009|30,152,405|$38.51|5.50|$\u2014|\n|Aggregate number of stock options expected to vest at December 31, 2009|29,552,636|$38.58|5.43|$\u2014|\n|Exercisable at December 31, 2009|21,651,876|$38.94|4.28|$\u2014|\n", + "The fair value of Stock Options is estimated on the date of grant using a binomial lattice model.", + "Significant assumptions used in the Company\u2019s binomial lattice model, which are further described below, include: expected volatility of the price of the Holding Company\u2019s common stock; risk-free rate of return; expected dividend yield on the Holding Company\u2019s common stock; exercise multiple; and the post\u0002vesting termination rate.", + "Expected volatility is based upon an analysis of historical prices of the Holding Company\u2019s common stock and call options on that common stock traded on the open market.", + "The Company uses a weighted-average of the implied volatility for publicly-traded call options with the longest remaining maturity nearest to the money as of each valuation date and the historical volatility, calculated using monthly closing prices of the Holding Company\u2019s common stock.", + "The Company chose a monthly measurement interval for historical volatility as it believes this better depicts the nature of employee option exercise decisions being based on longer-term trends in the price of the underlying shares rather than on daily price movements.", + "The binomial lattice model used by the Company incorporates different risk-free rates based on the imputed forward rates for U. S. Treasury Strips for each year over the contractual term of the option.", + "The table below presents the full range of rates that were used for options granted during the respective periods.", + "Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the Stock Option.", + "Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses Year Ended December 31, 2009", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home|International|Banking Corporate & Other|Total|\n||||(In millions)||||\n|Total revenues|$23,483|$3,543|$5,669|$3,113|$4,383|$867|$41,058|\n|Less: Net investment gains (losses)|-2,258|-1,606|-2,260|-2|-903|-743|-7,772|\n|Less: Adjustments related to net investment gains (losses)|-27|\u2014|\u2014|\u2014|\u2014|\u2014|-27|\n|Less: Other adjustments to revenues|-74|-217|187|\u2014|-169|22|-251|\n|Total operating revenues|$25,842|$5,366|$7,742|$3,115|$5,455|$1,588|$49,108|\n|Total expenses|$24,165|$4,108|$6,982|$2,697|$4,868|$2,571|$45,391|\n|Less: Adjustments related to net investment gains (losses)|39|-739|\u2014|\u2014|\u2014|\u2014|-700|\n|Less: Other adjustments to expenses|-1|\u2014|64|\u2014|37|38|138|\n|Total operating expenses|$24,127|$4,847|$6,918|$2,697|$4,831|$2,533|$45,953|\n", + "Year Ended December 31, 2008", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home| International|Banking Corporate & Other|Total|\n||(In millions)|\n|Total revenues|$26,754|$5,630|$7,559|$3,061|$6,001|$1,979|$50,984|\n|Less: Net investment gains (losses)|1,558|901|-1,629|-134|169|947|1,812|\n|Less: Adjustments related to net investment gains (losses)|18|\u2014|\u2014|\u2014|\u2014|\u2014|18|\n|Less: Other adjustments to revenues|-1|-35|45|\u2014|69|13|91|\n|Total operating revenues|$25,179|$4,764|$9,143|$3,195|$5,763|$1,019|$49,063|\n|Total expenses|$23,418|$5,049|$7,735|$2,728|$5,044|$1,949|$45,923|\n|Less: Adjustments related to net investment gains (losses)|262|577|\u2014|\u2014|\u2014|\u2014|839|\n|Less: Other adjustments to expenses|-52|\u2014|-29|\u2014|17|-4|-68|\n|Total operating expenses|$23,208|$4,472|$7,764|$2,728|$5,027|$1,953|$45,152|\n", + "Less: Adjustments related to net investment gains", + "The volatile market conditions that began in 2008 and continued into 2009 impacted several key components of our operating earnings available to common shareholders including net investment income, hedging costs, and certain market sensitive expenses.", + "The markets also positively impacted our operating earnings available to common shareholders as conditions began to improve during 2009, resulting in lower DAC and DSI amortization.", + "A $722 million decline in net investment income was the result of decreasing yields, including the effects of our higher quality, more liquid, but lower yielding investment position in response to the extraordinary market conditions.", + "The impact of declining yields caused a $1.6 billion decrease in net investment income, which was partially offset by an increase of $846 million due to growth in average invested assets calculated excluding unrealized gains and losses.", + "The decrease in yields resulted from the disruption and dislocation in the global financial markets experienced in 2008, which continued, but moderated, in 2009.", + "The adverse yield impact was concentrated in the following four invested asset classes: ?", + "Fixed maturity securities \u2014 primarily due to lower yields on floating rate securities from declines in short-term interest rates and an increased allocation to lower yielding, higher quality, U. S. Treasury, agency and government guaranteed securities, to increase liquidity in response to the extraordinary market conditions, as well as decreased income on our securities lending program, primarily due to the smaller size of the program in the current year.", + "These adverse impacts were offset slightly as conditions improved late in 2009 and we began to reallocate our portfolio to higher-yielding assets; ?", + "Real estate joint ventures \u2014 primarily due to declining property valuations on certain investment funds that carry their real estate at estimated fair value and operating losses incurred on properties that were developed for sale by development joint ventures; ?", + "Cash, cash equivalents and short-term investments \u2014 primarily due to declines in short-term interest rates; and ?", + "Mortgage loans \u2014 primarily due to lower prepayments on commercial mortgage loans and lower yields on variable rate loans reflecting declines in short-term interest rates.", + "Equity markets experienced some recovery in 2009, which led to improved yields on other limited partnership interests.", + "As many of our products are interest spread-based, the lower net investment income was significantly offset by lower interest credited expense on our investment and insurance products.", + "The financial market conditions also resulted in a $348 million increase in net guaranteed annuity benefit costs in our Retirement Products segment, as increased hedging losses were only partially offset by lower guaranteed benefit costs.", + "The key driver of the increase in other expenses stemmed from the impact of market conditions on certain expenses, primarily pension and postretirement benefit costs, reinsurance expenses and letter of credit fees.", + "These increases coupled with higher variable costs, such as" + ], + "question_id": "simplong-test-288", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "how much did the company 2019s valuation allowance decrease from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table summarizes the changes in the Company\u2019s valuation allowance:", + "|Balance at January 1, 2010|$25,621|\n|Increases in current period tax positions|907|\n|Decreases in current period tax positions|-2,740|\n|Balance at December 31, 2010|$23,788|\n|Increases in current period tax positions|1,525|\n|Decreases in current period tax positions|-3,734|\n|Balance at December 31, 2011|$21,579|\n|Increases in current period tax positions|0|\n|Decreases in current period tax positions|-2,059|\n|Balance at December 31, 2012|$19,520|\n", + "Note 14: Employee Benefits Pension and Other Postretirement Benefits The Company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations.", + "Benefits under the plans are based on the employee\u2019s years of service and compensation.", + "The pension plans have been closed for most employees hired on or after January 1, 2006.", + "Union employees hired on or after January 1, 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement.", + "Union employees hired on or after January 1, 2001 and non-union employees hired on or after January 1, 2006 are provided with a 5.25% of base pay defined contribution plan.", + "The Company does not participate in a multiemployer plan.", + "The Company\u2019s funding policy is to contribute at least the greater of the minimum amount required by the Employee Retirement Income Security Act of 1974 or the normal cost, and an additional contribution if needed to avoid \u201cat risk\u201d status and benefit restrictions under the Pension Protection Act of 2006.", + "The Company may also increase its contributions, if appropriate, to its tax and cash position and the plan\u2019s funded position.", + "Pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds, fixed income securities and guaranteed interest contracts with insurance companies.", + "Pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans.", + "(See Note 6) The Company also has several unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees.", + "The Company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees.", + "The retiree welfare plans are closed for union employees hired on or after January 1, 2006.", + "The plans had previously closed for non-union employees hired on or after January 1, 2002.", + "The Company\u2019s policy is to fund other postretirement benefit costs for rate-making purposes.", + "Plan assets are invested in equity and bond mutual funds, fixed income securities, real estate investment trusts (\u201cREITs\u201d) and emerging market funds.", + "The obligations of the plans are dominated by obligations for active employees.", + "Because the timing of expected benefit payments is so far in the future and the size of the plan assets are small relative to the Company\u2019s assets, the investment strategy is to allocate a significant percentage of assets to equities, which the Company believes will provide the highest return over the long-term period.", + "The fixed income assets are invested in long duration debt securities and may be invested in fixed income instruments, such as futures and options in order to better match the duration of the plan liability.", + "The allocation of goodwill in accordance with SFAS No.142 for the years ended December 31, 2006 and 2005 was as follows:", + "| | Balance at Beginning of Period| Goodwill Acquired| Foreign Currency Translation and Other| Balance at End of Period|\n|Year Ended December 31, 2006|||||\n|Food Packaging|$540.4|$31.9|$14.9|$587.2|\n|Protective Packaging|1,368.4|0.4|1.1|1,369.9|\n|Total|$1,908.8|$32.3|$16.0|$1,957.1|\n|Year Ended December 31, 2005|||||\n|Food Packaging|$549.8|$0.7|$-10.1|$540.4|\n|Protective Packaging|1,368.2|0.8|-0.6|1,368.4|\n|Total|$1,918.0|$1.5|$-10.7|$1,908.8|\n", + "See Note 20, \u201cAcquisitions,\u201d for additional information on the goodwill acquired during 2006.", + "Note 4 Short Term Investments\u2014Available-for-Sale Securities At December 31, 2006 and 2005, the Company\u2019s available-for-sale securities consisted of auction rate securities for which interest or dividend rates are generally re-set for periods of up to 90 days.", + "At December 31, 2006, the Company held $33.9 million of auction rate securities which were investments in preferred stock with no maturity dates.", + "At December 31, 2005, the Company held $44.1 million of auction rate securities, of which $34.7 million were investments in preferred stock with no maturity dates and $9.4 million were investments in other auction rate securities with contractual maturities in 2031.", + "At December 31, 2006 and 2005, the fair value of the available-for-sale securities held by the Company was equal to their cost.", + "There were no gross realized gains or losses from the sale of available\u0002for-sale securities in 2006 and 2005.", + "Note 5 Accounts Receivable Securitization Program In December 2001, the Company and a group of its U. S. subsidiaries entered into an accounts receivable securitization program with a bank and an issuer of commercial paper administered by the bank.", + "On December 7, 2004, which was the scheduled expiration date of this program, the parties extended this program for an additional term of three years ending December 7, 2007.", + "Under this receivables program, the Company\u2019s two primary operating subsidiaries, Cryovac, Inc. and Sealed Air Corporation (US), sell all of their eligible U. S. accounts receivable to Sealed Air Funding Corporation, an indirectly wholly-owned subsidiary of the Company that was formed for the sole purpose of entering into the receivables program.", + "Sealed Air Funding in turn may sell undivided ownership interests in these receivables to the bank and the issuer of commercial paper, subject to specified conditions, up to a maximum of $125.0 million of receivables interests outstanding from time to time.", + "Sealed Air Funding retains the receivables it purchases from the operating subsidiaries, except those as to which it sells receivables interests to the bank or the issuer of commercial paper.", + "The Company has structured the sales of accounts receivable by the operating subsidiaries to Sealed Air Funding, and the sales of receivables interests from Sealed Air Funding to the bank and the issuer of commercial paper, as \u201ctrue sales\u201d under applicable laws.", + "The assets of Sealed Air Funding are not available to pay any creditors of the Company or of the Company\u2019s other subsidiaries or affiliates.", + "The Company accounts for these transactions as sales of receivables under the provisions of SFAS No.140, \u201cAccounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities.", + "\u201d", + "Product Care 2016 compared with 2015 As reported, net sales decreased $30 million, or 2%, in 2016 compared with 2015, of which $22 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $8 million, or 1%, in 2016 compared with 2015 primarily due to the following: ?", + "unfavorable price/mix of $29 million primarily in North America driven by targeted pricing incentives and an unfavorable product mix related to accelerated growth in e-Commerce and a shift in demand due to more innovative, resource-efficient solutions.", + "This was partially offset by: ?", + "higher unit volumes of $21 million, primarily in North America and EMEA due to ongoing strength in the e-Commerce and third party logistics markets, partially offset by rationalization and weakness in the industrial sector, as well as declines in Latin America due to the political and economic environment.2015 compared with 2014 As reported, net sales decreased $109 million, or 7%, in 2015 compared with 2014, of which $99 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $10 million, or 1%, in 2015 compared with 2014 primarily due to the following: ?", + "lower unit volumes due to rationalization efforts in North America, Latin America and to a lesser extent, EMEA and weaknesses across the industrial sector.", + "This was partially offset by: ?", + "favorable price/mix in all regions, primarily in North America and Latin America reflecting results from our focus on maintaining pricing disciplines and an increase of sales from high-performance packaging solutions, including cushioning and packaging systems as compared to sales from general packaging solutions, and the progression of our pricing and value initiatives implemented to offset non-material inflationary costs as well as currency devaluation.", + "Cost of Sales Cost of sales for the years ended December 31, were as follows:", + "||Year Ended December 31,|2016 vs. 2015 % Change|2015 vs. 2014 % Change|\n|(In millions)|2016|2015|2014|\n|Net sales|$6,778.3|$7,031.5|$7,750.5|-3.6%|-9.3%|\n|Cost of sales|4,246.7|4,444.9|5,062.9|-4.5%|-12.2%|\n|As a % of net sales|62.7%|63.2%|65.3%|||\n|Gross Profit|$2,531.6|$2,586.6|$2,687.6|-2.1%|-3.8%|\n", + "2016 compared with 2015 As reported, costs of sales decreased $198 million in 2016 as compared to 2015.", + "Cost of sales was impacted by favorable foreign currency translation of $163 million.", + "On a constant dollar basis, cost of sales decreased $35 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $79 million, offset by an increase of $51 million in expenses representing higher non-material manufacturing and direct costs, including salary and wage inflation, partially offset by restructuring savings and lower incentive based compensation.2015 compared with 2014 As reported, costs of sales decreased $618 million in 2015 as compared to 2014.", + "Cost of sales was impacted by favorable foreign currency translation of $492 million.", + "On a constant dollar basis, cost of sales decreased $126 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $140 million and favorable impact of $31 million related to cost savings, freight, and other supply chain costs.", + "These were partially offset by $47 million in expenses related to higher non-material manufacturing costs, including salary and wage inflation." + ], + "question_id": "simplong-test-289", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "as of december 31 , 2017 , what was the percent of the 2016 program remaining available for purchase", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "In recent years, the Michigan legislature has conducted hearings on the subject of energy competition.", + "If the ROA limit were increased or if electric generation service in Michigan were deregulated, Consumers\u2019 financial results and operations could be materially adversely affected.", + "Electric Transmission: In 2012, ReliabilityFirst Corporation informed Consumers that Consumers may not be properly registered to meet certain NERC electric reliability standards.", + "Consumers assessed its registration status, taking into consideration FERC\u2019s December 2012 order on the definition of a bulk electric system, and in 2013 notified ReliabilityFirst Corporation that it was preparing to register as a transmission owner, transmission planner, and transmission operator.", + "In light of this order, Consumers reviewed the classification of certain electric distribution assets and, in April 2014, filed an application for reclassification with the MPSC.", + "In October 2014, the MPSC approved a settlement agreement that will allow Consumers to reclassify $34 million of net plant assets from distribution to transmission, subject to FERC approval.", + "In January 2015, Consumers filed an application for reclassification with FERC.", + "Electric Rate Matters: Rate matters are critical to Consumers\u2019 electric utility business.", + "For additional details on rate matters, see Note 3, Regulatory Matters.", + "Electric Rate Design: In June 2014, Michigan\u2019s governor signed legislation requiring the MPSC to explore alternative cost allocation and rate design methods that would promote affordable and competitive rates for all electric customers.", + "In conjunction with this legislation, Consumers submitted to the MPSC a proposal for a new electric rate design in October 2014.", + "This proposed new design will better ensure that rates are equal to the cost of service and will have the effect of making rates for energy\u0002intensive industrial customers more competitive, while keeping residential bills affordable.", + "Consumers incorporated its proposed new rate design into the rate case it filed in December 2014.", + "Electric Rate Case: In December 2014, Consumers filed an application with the MPSC seeking an annual rate increase of $163 million, based on a 10.7 percent authorized return on equity.", + "The filing requested authority to recover new investment in system reliability, environmental compliance, and technology enhancements.", + "Presented in the following table are the components of the requested increase in revenue:", + "||In Millions|\n|Components of the rate increase||\n|Investment in rate base|$ 185|\n|Addition of new gas plant|35|\n|Operating and maintenance costs|26|\n|Cost of capital|21|\n|Working capital|6|\n|Cost-reduction initiatives|-80|\n|Gross margin|-30|\n|Total|$ 163|\n", + "The filing also seeks approval of an investment recovery mechanism that would allow recovery of an additional $163 million in total for incremental investments that Consumers plans to make in 2016 and 2017 and $78 million for incremental investments planned in 2018, subject to reconciliation.", + "Depreciation Rate Case: In June 2014, Consumers filed a depreciation case related to its electric and common utility property.", + "In this case, Consumers requested an increase in depreciation expense, and its recovery of that expense, of $28 million annually.", + "PSCR Plan: Consumers submitted its 2015 PSCR plan to the MPSC in September 2014 and, in accordance with its proposed plan, self-implemented the 2015 PSCR charge beginning in January 2015.", + "In 2013, the U. S. Court of Appeals for the Ninth Circuit reversed the district court decision.", + "The appellate court found that FERC preemption does not apply under the facts of these cases.", + "The appellate court affirmed the district court\u2019s denial of leave to amend to add federal antitrust claims.", + "The matter was appealed to the U. S. Supreme Court, which in 2015 upheld the Ninth Circuit\u2019s decision.", + "The cases were remanded back to the federal district court.", + "In May 2016, the federal district court granted the defendants\u2019 motion for summary judgment in the individual lawsuit based on a release in a prior settlement involving similar allegations and reinstated CMS Energy as a defendant in one of the class action lawsuits.", + "The order of summary judgment has been appealed.", + "In December 2016, CMS Energy entities reached a tentative settlement with the plaintiffs in the three Kansas and Missouri cases for an amount that was not material to CMS Energy.", + "Notice of the tentative settlement has been filed in the federal district court.", + "The settlement will be subject to court approval.", + "Other CMS Energy entities remain as defendants in the two Wisconsin class action lawsuits.", + "These cases involve complex facts, a large number of similarly situated defendants with different factual positions, and multiple jurisdictions.", + "Presently, any estimate of liability would be highly speculative; the amount of CMS Energy\u2019s reasonably possible loss would be based on widely varying models previously untested in this context.", + "If the outcome after appeals is unfavorable, these cases could negatively affect CMS Energy\u2019s liquidity, financial condition, and results of operations.", + "Bay Harbor: CMS Land retained environmental remediation obligations for the collection and treatment of leachate, a liquid consisting of water and other substances, at Bay Harbor after selling its interests in the development in 2002.", + "Leachate is produced when water enters into cement kiln dust piles left over from former cement plant operations at the site.", + "In 2012, CMS Land and the MDEQ finalized an agreement that established the final remedies and the future water quality criteria at the site.", + "CMS Land completed all construction necessary to implement the remedies required by the agreement and will continue to maintain and operate a system to discharge treated leachate into Little Traverse Bay under an NPDES permit issued in 2010 and renewed in October 2016.", + "The renewed NPDES permit is valid through September 2020.", + "Various claims have been brought against CMS Land or its affiliates, including CMS Energy, alleging environmental damage to property, loss of property value, insufficient disclosure of environmental matters, breach of agreement relating to access, or other matters.", + "CMS Land and other parties have received a demand for payment from the EPA in the amount of $8 million, plus interest.", + "The EPA is seeking recovery under CERCLA of response costs allegedly incurred at Bay Harbor.", + "These costs exceed what was agreed to in a 2005 order between CMS Land and the EPA, and CMS Land has communicated to the EPA that it does not believe that this is a valid claim.", + "The EPA has filed a lawsuit to collect these costs.", + "At December 31, 2016, CMS Energy had a recorded liability of $51 million for its remaining obligations for environmental remediation.", + "CMS Energy calculated this liability based on discounted projected costs, using a discount rate of 4.34 percent and an inflation rate of one percent on annual operating and maintenance costs.", + "The undiscounted amount of the remaining obligation is $65 million.", + "CMS Energy expects to pay the following amounts for long-term liquid disposal and operating and maintenance in each of the next five years:", + "|||||In Millions|\n||2017|2018|2019|2020|2021|\n| CMS Energy||||||\n|Long-term liquid disposal and operating and maintenance costs|$5|$4|$4|$4|$4|\n", + "CMS Energy\u2019s estimate of response activity costs and the timing of expenditures could change if there are changes in circumstances or assumptions used in calculating the liability.", + "Although a liability for its present estimate of remaining response activity costs has been recorded, CMS Energy cannot predict the ultimate financial impact or outcome of this matter.", + "CMS Energy and Consumers also have recognized non-current liabilities for which the timing of payments cannot be reasonably estimated.", + "These items, which are excluded from the table above, include regulatory liabilities, deferred income taxes, workers compensation liabilities, accrued liabilities under renewable energy programs, and other liabilities.", + "Retirement benefits are also excluded from the table above.", + "For details related to benefit payments, see Note 12, Retirement Benefits.", + "Off-Balance-Sheet Arrangements: CMS Energy, Consumers, and certain of their subsidiaries enter into various arrangements in the normal course of business to facilitate commercial transactions with third parties.", + "These arrangements include indemnities, surety bonds, letters of credit, and financial and performance guarantees.", + "Indemnities are usually agreements to reimburse a counterparty that may incur losses due to outside claims or breach of contract terms.", + "The maximum payment that could be required under a number of these indemnity obligations is not estimable; the maximum obligation under indemnities for which such amounts were estimable was $153 million at December 31, 2016.", + "While CMS Energy and Consumers believe it is unlikely that they will incur any material losses related to indemnities they have not recorded as liabilities, they cannot predict the impact of these contingent obligations on their liquidity and financial condition.", + "For additional details on these and other guarantee arrangements, see Note 4, Contingencies and Commitments\u2014Guarantees.", + "For additional details on operating leases, see Note 10, Leases and Palisades Financing.", + "Capital Expenditures: Over the next five years, CMS Energy and Consumers expect to make substantial capital investments.", + "CMS Energy and Consumers may revise their forecasts of capital expenditures periodically due to a number of factors, including environmental regulations, business opportunities, market volatility, economic trends, and the ability to access capital.", + "Presented in the following table are CMS Energy\u2019s and Consumers\u2019 estimated capital expenditures, including lease commitments, for 2017 through 2021:", + "||2017|2018|2019|2020|2021|Total|\n| CMS Energy, including Consumers||||||\n|Consumers|$1.8|$1.8|$1.8|$1.8|$1.8|$9.0|\n|Enterprises|-|0.1|0.1|-|-|0.2|\n|Total CMS Energy|$1.8|$1.9|$1.9|$1.8|$1.8|$9.2|\n| Consumers|||||||\n|Electric utility operations|$1.0|$0.8|$1.1|$1.1|$1.0|$5.0|\n|Gas utility operations|0.8|1.0|0.7|0.7|0.8|4.0|\n|Total Consumers|$1.8|$1.8|$1.8|$1.8|$1.8|$9.0|\n", + "OUTLOOK Several business trends and uncertainties may affect CMS Energy\u2019s and Consumers\u2019 financial condition and results of operations.", + "These trends and uncertainties could have a material impact on CMS Energy\u2019s and Consumers\u2019 consolidated income, cash flows, or financial position.", + "For additional details regarding these and other uncertainties, see Forward-Looking Statements and Information; Item 1A.", + "Risk Factors; Note 3, Regulatory Matters; and Note 4, Contingencies and Commitments.", + "Table of Contents The following table discloses purchases of shares of our common stock made by us or on our behalf during the fourth quarter of 2017.", + "|Period|Total Numberof SharesPurchased|AveragePrice Paidper Share|Total Number ofShares NotPurchased as Part ofPublicly AnnouncedPlans or Programs (a)|Total Number ofShares Purchased asPart of PubliclyAnnounced Plans orPrograms|Approximate DollarValue of Shares thatMay Yet Be PurchasedUnder the Plans orPrograms (b)|\n|October 2017|515,762|$77.15|292,145|223,617|$1.6 billion|\n|November 2017|2,186,889|$81.21|216,415|1,970,474|$1.4 billion|\n|December 2017|2,330,263|$87.76|798|2,329,465|$1.2 billion|\n|Total|5,032,914|$83.83|509,358|4,523,556|$1.2 billion|\n", + "(a) The shares reported in this column represent purchases settled in the fourth quarter of 2017 relating to (i) our purchases of shares in open-market transactions to meet our obligations under stock-based compensation plans, and (ii) our purchases of shares from our employees and non-employee directors in connection with the exercise of stock options, the vesting of restricted stock, and other stock compensation transactions in accordance with the terms of our stock-based compensation plans.", + "(b) On September 21, 2016, we announced that our board of directors authorized our purchase of up to $2.5 billion of our outstanding common stock (the 2016 program) with no expiration date.", + "As of December 31, 2017, we had $1.2 billion remaining available for purchase under the 2016 program.", + "On January 23, 2018, we announced that our board of directors authorized our purchase of up to an additional $2.5 billion of our outstanding common stock with no expiration date." + ], + "question_id": "simplong-test-290", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percentage change in weighted average common shares outstanding for basic computations from 2017 to 2018?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Note 2 \u2013 Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):", + "||2018|2017|2016|\n|Weighted average common shares outstanding for basic computations|284.5|287.8|299.3|\n|Weighted average dilutive effect of equity awards|2.3|2.8|3.8|\n|Weighted average common shares outstanding for diluted computations|286.8|290.6|303.1|\n", + "We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented.", + "Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units (RSUs), performance stock units (PSUs) and exercise of outstanding stock options based on the treasury stock method.", + "There were no significant anti-dilutive equity awards for the years ended December 31, 2018, 2017 and 2016.", + "Note 3 \u2013 Acquisition and Divestitures Consolidation of AWE Management Limited On August 24, 2016, we increased our ownership interest in the AWE joint venture, which operates the United Kingdom\u2019s nuclear deterrent program, from 33% to 51%.", + "Consequently, we began consolidating AWE and our operating results include 100% of AWE\u2019s sales and 51% of its operating profit.", + "Prior to increasing our ownership interest, we accounted for our investment in AWE using the equity method of accounting.", + "Under the equity method, we recognized only 33% of AWE\u2019s earnings or losses and no sales.", + "Accordingly, prior to August 24, 2016, the date we obtained control, we recorded 33% of AWE\u2019s net earnings in our operating results and subsequent to August 24, 2016, we recognized 100% of AWE\u2019s sales and 51% of its operating profit.", + "We accounted for this transaction as a \u201cstep acquisition\u201d (as defined by U. S. GAAP), which requires us to consolidate and record the assets and liabilities of AWE at fair value.", + "Accordingly, we recorded intangible assets of $243 million related to customer relationships, $32 million of net liabilities, and noncontrolling interests of $107 million.", + "The intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows.", + "In 2016, we recognized a non-cash net gain of $104 million associated with obtaining a controlling interest in AWE, which consisted of a $127 million pretax gain recognized in the operating results of our Space business segment and $23 million of tax-related items at our corporate office.", + "The gain represented the fair value of our 51% interest in AWE, less the carrying value of our previously held investment in AWE and deferred taxes.", + "The gain was recorded in other income, net on our consolidated statements of earnings.", + "The fair value of AWE (including the intangible assets), our controlling interest, and the noncontrolling interests were determined using the income approach.", + "Divestiture of the Information Systems & Global Solutions Business On August 16, 2016, we divested our former IS&GS business, which merged with Leidos, in a Reverse Morris Trust transaction (the \u201cTransaction\u201d).", + "The Transaction was completed in a multi-step process pursuant to which we initially contributed the IS&GS business to Abacus Innovations Corporation (Abacus), a wholly owned subsidiary of Lockheed Martin created to facilitate the Transaction, and the common stock of Abacus was distributed to participating Lockheed Martin stockholders through an exchange offer.", + "Under the terms of the exchange offer, Lockheed Martin stockholders had the option to exchange shares of Lockheed Martin common stock for shares of Abacus common stock.", + "At the conclusion of the exchange offer, all shares of Abacus common stock were exchanged for 9,369,694 shares of Lockheed Martin common stock held by Lockheed Martin stockholders that elected to participate in the exchange.", + "The shares of Lockheed Martin common stock that were exchanged and accepted were retired, reducing the number of shares of our common stock outstanding by approximately 3%.", + "Following the exchange offer, Abacus merged with a subsidiary of Leidos, with Abacus continuing as the surviving corporation and a wholly-owned subsidiary of Leidos.", + "As part of the merger, each share of Abacus common stock was automatically converted into one share of Leidos common stock.", + "We did not receive any shares of Leidos common stock as part of the Transaction and do not hold any shares of Leidos or Abacus common stock following the Transaction.", + "Based on an opinion of outside tax counsel, subject to customary qualifications and based on factual representations, the exchange offer and merger will qualify as tax-free transactions to Lockheed Martin and its stockholders, except to the extent that cash was paid to Lockheed Martin stockholders in lieu of fractional shares.", + "In connection with the Transaction, Abacus borrowed an aggregate principal amount of approximately $1.84 billion under term loan facilities with third party financial institutions, the proceeds of which were used to make a one-time special cash payment of $1.80 billion to Lockheed Martin and to pay associated borrowing fees and expenses.", + "The entire special cash payment was used to repay debt, pay dividends and repurchase stock during the third and fourth quarters of 2016.", + "The obligations under the Abacus term loan facilities were guaranteed by Leidos as part of the Transaction.", + "In response to the economic crisis and unusual financial market events that occurred in 2008 and continued into 2009, we decided to utilize excess debt capacity.", + "The Holding Company completed three debt issuances in 2009.", + "The Holding Company issued $397 million of floating rate senior notes in March 2009, $1.3 billion of senior notes in May 2009, and $500 million of junior subordinated debt securities in July 2009.", + "In February 2009, in connection with the initial settlement of the stock purchase contracts issued as part of the common equity units sold in June 2005, the Holding Company issued common stock for $1.0 billion.", + "The proceeds from these equity and debt issuances were used for general corporate purposes and have resulted in increased investments and cash and cash equivalents held within Banking, Corporate & Other.", + "Operating earnings available to common shareholders improved by $114 million, of which $254 million was due to MetLife Bank and its acquisitions of a residential mortgage origination and servicing business and a reverse mortgage business, both during 2008.", + "Excluding the impact of MetLife Bank, our operating earnings available to common shareholders decreased $140 million, primarily due to lower net investment income, partially offset by the impact of a lower effective tax rate.", + "The lower effective tax rate provided an increased benefit of $139 million from the prior year.", + "This benefit was the result of a partial settlement of certain prior year tax audit issues and increased utilization of tax preferenced investments, which provide tax credits and deductions.", + "Excluding a $68 million increase from MetLife Bank, net investment income decreased $283 million, which was primarily due a decrease of $287 million due to lower yields, partially offset by an increase of $4 million due to an increase in average invested assets.", + "Consistent with the consolidated results of operations discussion above, yields were adversely impacted by the severe downturn in the global financial markets, which primarily impacted fixed maturity securities and real estate joint ventures.", + "The increased average invested asset base was due to cash flows from debt issuances during 2009.", + "Our investments primarily include structured finance securities, investment grade corporate fixed maturity securities, U. S. Treasury, agency and government guaranteed fixed maturity securities and mortgage loans.", + "In addition, our investment portfolio includes the excess capital not allocated to the segments.", + "Accordingly, it includes a higher allocation to certain other invested asset classes to provide additional diversification and opportunity for long-term yield enhancement including leveraged leases, other limited partnership interests, real estate, real estate joint ventures and equity securities.", + "After excluding the impact of a $394 million increase from MetLife Bank, other expenses increased by $20 million.", + "Deferred compensation costs, which are tied to equity market performance, were higher due to a significant market rebound.", + "We also had an increase in costs associated with the implementation of our Operational Excellence initiative.", + "These increases were partially offset by lower postemployment related costs and corporate-related expenses, specifically legal costs.", + "Legal costs were lower largely due to the prior year commutation of asbestos policies.", + "In addition, interest expense declined slightly as a result of rate reductions on variable rate collateral financing arrange\u0002ments offset by debt issuances in 2009 and 2008.", + "Consolidated Results of Operations Year Ended December 31, 2008 compared with the Year Ended December 31, 2007", + "||Years Ended December 31,|||\n||2008|2007|Change|% Change|\n||(In millions)||\n| Revenues|||||\n|Premiums|$25,914|$22,970|$2,944|12.8%|\n|Universal life and investment-type product policy fees|5,381|5,238|143|2.7%|\n|Net investment income|16,291|18,057|-1,766|-9.8%|\n|Other revenues|1,586|1,465|121|8.3%|\n|Net investment gains (losses)|1,812|-578|2,390|413.5%|\n|Total revenues|50,984|47,152|3,832|8.1%|\n| Expenses|||||\n|Policyholder benefits and claims and policyholder dividends|29,188|25,506|3,682|14.4%|\n|Interest credited to policyholder account balances|4,788|5,461|-673|-12.3%|\n|Interest credited to bank deposits|166|200|-34|-17.0%|\n|Capitalization of DAC|-3,092|-3,064|-28|-0.9%|\n|Amortization of DAC and VOBA|3,489|2,250|1,239|55.1%|\n|Interest expense|1,051|897|154|17.2%|\n|Other expenses|10,333|10,122|211|2.1%|\n|Total expenses|45,923|41,372|4,551|11.0%|\n|Income before provision for income tax|5,061|5,780|-719|-12.4%|\n|Provision for income tax expense (benefit)|1,580|1,675|-95|-5.7%|\n|Income (loss) from continuing operations, net of income tax|3,481|4,105|-624|-15.2%|\n|Income (loss) from discontinued operations, net of income tax|-203|360|-563|-156.4%|\n|Net income (loss)|3,278|4,465|-1,187|-26.6%|\n|Less: Net income (loss) attributable to noncontrolling interests|69|148|-79|-53.4%|\n|Net income (loss) attributable to MetLife, Inc.|3,209|4,317|-1,108|-25.7%|\n|Less: Preferred stock dividends|125|137|-12|-8.8%|\n|Net income (loss) available to MetLife, Inc.\u2019s common shareholders|$3,084|$4,180|$-1,096|-26.2%|\n", + "policy issuance expenses and certain advertising costs.", + "VOBA represents the excess of book value over the estimated fair value of acquired insurance, annuity, and investment-type contracts in-force at the acquisition date.", + "For certain acquired blocks of business, the estimated fair value of the in-force contract obligations exceeded the book value of assumed in-force insurance policy liabilities, resulting in negative VOBA, which is presented separately from VOBA as an additional insurance liability included in other policy-related balances.", + "The estimated fair value of the acquired liabilities is based on actuarially determined projections, by each block of business, of future policy and contract charges, premiums, mortality and morbidity, separate account performance, surrenders, operating expenses, investment returns, nonperformance risk adjustment and other factors.", + "Actual experience on the purchased business may vary from these projections.", + "The recovery of DAC and VOBA is dependent upon the future profitability of the related business.", + "The Company will adopt new guidance regarding the accounting for DAC beginning in the first quarter of 2012 and will apply it retrospectively to all prior periods presented in its consolidated financial statements for all insurance contracts.", + "See Note 1 of the Notes to the Consolidated Financial Statements.", + "Separate account rates of return on variable universal life contracts and variable deferred annuity contracts affect in-force account balances on such contracts each reporting period which can result in significant fluctuations in amortization of DAC and VOBA.", + "The Company\u2019s practice to determine the impact of gross profits resulting from returns on separate accounts assumes that long-term appreciation in equity markets is not changed by short-term market fluctuations, but is only changed when sustained interim deviations are expected.", + "The Company monitors these events and only changes the assumption when its long-term expectation changes.", + "The effect of an increase/(decrease) by 100 basis points in the assumed future rate of return is reasonably likely to result in a decrease/(increase) in the DAC and VOBA amortization of approximately $161 million with an offset to the Company\u2019s unearned revenue liability of approximately $26 million for this factor.", + "The Company also periodically reviews other long-term assumptions underlying the projections of estimated gross margins and profits.", + "These include investment returns, policyholder dividend scales, interest crediting rates, mortality, persistency, and expenses to administer business.", + "Assumptions used in the calculation of estimated gross margins and profits which may have significantly changed are updated annually.", + "If the update of assumptions causes expected future gross margins and profits to increase, DAC and VOBA amortization will decrease, resulting in a current period increase to earnings.", + "The opposite result occurs when the assumption update causes expected future gross margins and profits to decrease.", + "The Company\u2019s most significant assumption updates resulting in a change to expected future gross margins and profits and the amortization of DAC and VOBA are due to revisions to expected future investment returns, expenses, in-force or persistency assumptions and policyholder dividends on participating traditional life contracts, variable and universal life contracts and annuity contracts.", + "The Company expects these assumptions to be the ones most reasonably likely to cause significant changes in the future.", + "Changes in these assumptions can be offsetting and the Company is unable to predict their movement or offsetting impact over time.", + "At December 31, 2011, 2010 and 2009, DAC and VOBA for the Company was $28.0 billion, $27.1 billion and $19.1 billion, respectively.", + "Amortization of DAC and VOBA associated with the variable and universal life and the annuity contracts was significantly impacted by movements in equity markets.", + "The following chart illustrates the effect on DAC and VOBA of changing each of the respective assumptions, as well as updating estimated gross margins or profits with actual gross margins or profits during the years ended December 31, 2011, 2010 and 2009.", + "Increases (decreases) in DAC and VOBA balances, as presented below, resulted in a corresponding decrease (increase) in amortization.", + "||Years Ended December 31,|\n||2011|2010|2009|\n||(In millions)|\n|Investment return|$-64|$-84|$22|\n|Separate account balances|-145|23|-85|\n|Net investment gain (loss)|-576|-124|712|\n|Guaranteed Minimum Income Benefits|-15|84|187|\n|Expense|-7|96|61|\n|In-force/Persistency|-2|9|-118|\n|Policyholder dividends and other|60|-203|154|\n|Total|$-749|$-199|$933|\n", + "The following represents significant items contributing to the changes to DAC and VOBA amortization in 2011: \u2030 The decrease in equity markets during the year lowered separate account balances which led to a reduction in actual and expected future gross profits on variable universal life contracts and variable deferred annuity contracts resulting in an increase of $145 million in DAC and VOBA amortization.", + "\u2030 Changes in net investment gains (losses) resulted in the following changes in DAC and VOBA amortization: \u2013 Actual gross profits decreased as a result of an increase in liabilities associated with guarantee obligations on variable annuities, resulting in a decrease of DAC and VOBA amortization of $531 million, excluding the impact from the Company\u2019s nonperformance risk and risk margins, which are described below.", + "This decrease in actual gross profits was more than offset by freestanding derivative gains associated with the hedging of such guarantee obligations, which resulted in an increase in DAC and VOBA amortization of $847 million.", + "\u2013 The widening of the Company\u2019s nonperformance risk adjustment decreased the valuation of guarantee liabilities, increased actual gross profits and increased DAC and VOBA amortization by $260 million.", + "This was partially offset by higher risk margins which increased the guarantee liability valuations, decreased actual gross profits and decreased DAC and VOBA amortization by $72 million.", + "\u2013 The remainder of the impact of net investment gains (losses), which increased DAC amortization by $72 million, was primarily attributable to current period investment activities.", + "The following represents significant items contributing to the changes to DAC and VOBA amortization in 2010: \u2030 Changes in net investment gains (losses) resulted in the following changes in DAC and VOBA amortization: \u2013 Actual gross profits increased as a result of a decrease in liabilities associated with guarantee obligations on variable annuities, resulting in an increase of DAC and VOBA amortization of $197 million, excluding the impact from the Company\u2019s nonperformance risk and risk margins, which are described below.", + "This increase in actual gross profits was partially offset by freestanding derivative losses associated with the hedging of such guarantee obligations, which resulted in a decrease in DAC and VOBA amortization of $88 million.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) The weighted average expected rate of return on plan assets for use in that plan\u2019s valuation in 2012 is currently anticipated to be 7.00% for U. S. pension benefits and 6.22% for U. S. other postretirement benefits.", + "The weighted average expected rate of return on plan assets for use in that plan\u2019s valuation in 2012 is currently anticipated to be 2.05% for non-U.", + "S. pension benefits and 6.54% for non-U.", + "S. other postretirement benefits.", + "The assumed healthcare costs trend rates used in measuring the APBO and net periodic benefit costs were as follows:", + "|| December 31,|\n|| 2011| 2010|\n|Pre-and Post-Medicare eligible claims|7.3% in 2012, gradually decreasing each year until 2083 reaching the ultimate rate of 4.3%.|7.8% in 2011, gradually decreasing each year until 2083 reaching the ultimate rate of 4.4%.|\n", + "Assumed healthcare costs trend rates may have a significant effect on the amounts reported for healthcare plans.", + "A 1% change in assumed healthcare costs trend rates would have the following effects:" + ], + "question_id": "simplong-test-291", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what were total costs incurred in 2014 , 2013 and 2012 relating to the development of proved undeveloped reserves , in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "requirements relating to the Act.", + "The Companies\u2019 actuaries have determined that each prescription drug plan provides a benefit that is at least actuarially equivalent to the Medicare prescription drug plan and projections indicate that this will be the case for 20 years; therefore, the Companies are eligible to receive the benefit.", + "When the plans\u2019 benefits are no longer actuarially equivalent to the Medicare plan, 25% of the retirees in each plan are assumed to begin to decline participation in the Companies\u2019 prescription programs.", + "To reflect the effect of the Act on the plans, the accumulated postretirement benefit obligations were reduced for Con Edison, Con Edison of New York and O&R by $160 million, $139 million and $21 million, respectively, as of December 31, 2004.", + "The 2004 postretirement benefit costs were reduced by $29 million for Con Edison, $26 million for Con Edison of New York and $3 million for O&R.", + "The Companies will recognize the 28% subsidy (reflected as an unrecognized net gain to each plan) as an offset to plan costs.", + "The 28% subsidy is expected to reduce prescription drug plan costs by about 25% starting in 2006.", + "Note G \u2013 Environmental Matters Superfund Sites Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.", + "The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which includes costs of demolition, removal, disposal, storage, replacement, containment and monitoring) and environmental damages.", + "Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred.", + "The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas sites, are referred to herein as \u201cSuperfund Sites.", + "\u201d For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to discharge their related obligations.", + "For Superfund Sites (including the manufactured gas sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites in light of the information available, applicable remediation standards and experience with similar sites.", + "For the year ended December 31, 2004, Con Edison of New York and O&R incurred approximately $44 million and $3 million, respectively, for environmental remediation costs.", + "Insurance recoveries of $36 million were received by Con Edison of New York, $35 million of which reduced related regulatory assets, with the remainder credited to expense.", + "For the year ended December 31, 2003, Con Edison of New York and O&R incurred approximately $21 million and $5 million, respectively, for environmental remediation costs.", + "No insurance recoveries were received.", + "For the year ended December 31, 2002, Con Edison of New York and O&R incurred approximately $22 million and $2 million, respectively, for environmental remediation costs, and O&R received insurance recoveries of $7 million.", + "The accrued liabilities and regulatory assets related to Superfund Sites for each of the Companies at December 31, 2004 and December 31, 2003 were as follows:", + "||Con Edison|Con Edison ofNew York|O&R|\n|(Millions of Dollars)|2004|2003|2004|2003|2004|2003|\n|Accrued Liabilities:|||||||\n|Manufactured gas plant sites|$148|$145|$92|$106|$56|$39|\n|Other Superfund Sites|50|48|49|47|1|1|\n|Total|$198|$193|$141|$153|$57|$40|\n|Regulatory assets|$165|$155|$106|$116|$59|$39|\n", + "Most of the accrued Superfund Site liability relates to Superfund Sites that have been investigated, in whole or in part.", + "As investigations progress on these and other sites, the Companies expect that additional liability will be accrued, the amount of which is not presently determinable but may be material.", + "The Utilities are permitted under their current rate agreements to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.", + "Con Edison of New York estimated in 2002 that for its manufactured gas sites, many of which had not been investigated, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range from approximately $65 million to $1.1 billion.", + "O&R estimated in 2004 that for its manufactured gas sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range from approximately $31 million to $87 million.", + "These", + "Gas Supply O&R and CECONY have combined their gas requirements and purchase contracts to meet those requirements into a single portfolio.", + "See \u201cCECONY \u2013 Gas Operations \u2013 Gas Supply\u201d above.", + "Competitive Energy Businesses Con Edison pursues competitive energy opportunities through three wholly-owned subsidiaries: Con Edison Solutions, Con Edison Energy and Con Edison Development.", + "These businesses include the sales and related hedging of electricity to wholesale and retail customers, sales of certain energy\u0002related products and services, and participation in energy infrastructure projects.", + "At December 31, 2010, Con Edison\u2019s equity investment in its competitive energy businesses was $337 million and their assets amounted to $807 million.", + "The competitive energy businesses are pursuing opportunities to invest in renewable generation and energy-related infrastructure projects.", + "Con Edison Solutions Con Edison Solutions primarily sells electricity to industrial, commercial and governmental customers in the northeastern United States and Texas.", + "It also sells electricity to residential and small commercial customers in the northeastern United States.", + "Con Edison Solutions does not sell electricity to the Utilities.", + "Con Edison Solutions sells electricity to customers who are provided delivery service by the Utilities.", + "It also provides energy efficiency services, procurement and management services to companies and governmental entities throughout most of the United States.", + "Con Edison Solutions was reported by KEMA, Inc. in September 2010 to be the 9th largest non-residential retail electricity provider in the United States.", + "Most of the company\u2019s electricity sales volumes are to industrial, large commercial and government customers.", + "The company also sells to two retail aggregation entities in Massachusetts and to individual residential and small commercial (mass market) customers in the northeastern United States.", + "At December 31, 2010, it served approximately 115,000 customers, not including approximately 165,000 served under the two aggregation agreements.", + "Con Edison Solutions sold 15,993 million kWhs of electricity in 2010, a 26 percent increase from 2009 volumes.", + "|| 2006| 2007| 2008| 2009| 2010|\n|Retail electric volumes sold (millions of kWhs)|10,633|12,209|10,749|12,723|15,993|\n|Number of retail customers accounts:(a)||||||\n|Industrial and large commercial|10,957|14,335|14,491|26,009|29,561|\n|Mass market|31,725|33,979|39,976|49,094|85,191|\n", + "(a) Excludes aggregation agreement customers Con Edison Solutions seeks to serve customers in utility service territories that encourage retail competition through transparent pricing, purchase of receivables programs or utility-sponsored customer acquisition programs.", + "The company currently sells electricity in the service territories of 43 utilities in the states of New York, Massachusetts, Connecticut, New Hampshire, Maine, New Jersey, Delaware, Maryland, Illinois, Pennsylvania and Texas, as well as the District of Columbia.", + "Total peak load at the end of 2010 was 5,300 MWs.", + "Approximately 34 percent of the sales volumes were in New York, 27 percent in New England, 31 percent in PJM and the remainder in Texas.", + "Con Edison Solutions offers the choice of green power to customers.", + "In 2010, it sold approximately 233 million kWhs of green power, ending the year with almost 24,000 customers.", + "Green power is a term used by electricity suppliers to describe electricity produced from renewable energy sources, including wind, hydro and solar.", + "Con Edison Solutions also provides energy-efficiency services to government and commercial customers.", + "The services include the design and installation of lighting retrofits, high\u0002efficiency heating, ventilating and air conditioning equipment and other energy saving technologies.", + "The company is compensated for their services based primarily on the increased energy efficiency of the installed equipment over a multi-year period.", + "Con Edison Solutions has won competitive solicitations for energy savings contracts with the Department of Energy and the Department of Defense, and a shared energy savings contract with the United States Postal Service.", + "Electric Sales and Deliveries O&R delivers electricity to its full-service customers who purchase electricity from the company.", + "The company also delivers electricity to its customers who purchase electricity from other suppliers through the company\u2019s energy choice program.", + "The company charges all customers in its service area for the delivery of electricity.", + "O&R generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the electricity it sells.", + "O&R\u2019s New York electric revenues (which accounted for 77.2 percent of O&R\u2019s electric revenues in 2014) are subject to a revenue decoupling mechanism.", + "As a result, O&R\u2019s New York electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "O&R\u2019s electric sales in New Jersey and Pennsylvania are not subject to a decoupling mechanism.", + "O&R\u2019s electric sales and deliveries for the last five years were:", + "|| Year Ended December 31,|\n||2010|2011| 2012| 2013| 2014|\n| Electric Energy Delivered (millions of kWhs)||||||\n|Total deliveries to O&R full service customers|3,498|3,029|2,691|2,555|2,429|\n|Delivery service for energy choice customers|2,330|2,760|3,040|3,166|3,240|\n| Total Deliveries In Franchise Area|5,828|5,789|5,731|5,721|5,669|\n| Electric Energy Delivered ($ in millions)||||||\n|Total deliveries to O&R full service customers|$570|$486|$405|$427|$455|\n|Delivery service for energy choice customers|132|157|178|192|207|\n|Other operating revenues|-10|-2|9|9|18|\n| Total Deliveries In Franchise Area|$692|$641|$592|$628|$680|\n| Average Revenue Per kWh Sold (Cents)||||||\n|Residential|18.3|18.0|16.7|18.1|20.3|\n|Commercial and Industrial|14.1|13.7|13.0|14.8|16.8|\n", + "For further discussion of the company\u2019s electric operating revenues and its electric results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8.", + "Electric Peak Demand The electric peak demand in O&R\u2019s service area occurs during the summer air conditioning season.", + "The weather during the summer of 2014 was cooler than design conditions.", + "O&R\u2019s 2014 service area peak demand was 1,370 MW, which occurred on July 2, 2014.", + "The 2014 peak demand included an estimated 697 MW for O&R\u2019s full-service customers and 673 MW for customers participating in its electric energy choice program.", + "\u201cDesign weather\u201d for the electric system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes.", + "Since the NYISO can invoke demand reduction programs under specific circumstances, design conditions do not include these programs\u2019 potential impact.", + "However, the O&R forecasted peak demand at design conditions does include the impact of permanent demand reduction programs.", + "The company estimates that, under design weather conditions, the 2015 service area peak demand will be 1,645 MW, including an estimated 819 MW for its full\u0002service customers and 826 MW for its electric energy choice customers.", + "The company forecasts average annual growth of the peak electric demand in the company\u2019s service area over the next five years at design conditions to be approximately 0.9 percent per year.", + "Electric Supply The electricity O&R sold to its full-service customers in 2014 was purchased under firm power contracts or through the wholesale electricity markets administered by the NYISO and PJM.", + "The company expects that these resources will again be adequate to meet the requirements of its customers in 2015.", + "O&R does not own any electric generating capacity.", + "The company plans to meet its continuing obligation to supply electricity to its customers through a combination of electricity purchased under contracts or purchased through the NYISO or PJM\u2019s wholesale electricity market.", + "To reduce the volatility of its customers\u2019 electric energy costs, the company has contracts to purchase electric energy and enters into derivative transactions to hedge the costs of a portion of its expected purchases under these contracts and through the NYISO and PJM\u2019s wholesale electricity market.", + "For information about the company\u2019s contracts, see Note O to the financial statements in Item 8.", + "In general, the Utilities recover their purchased power costs, including the cost of hedging purchase prices, pursuant to rate provisions approved by the state public utility regulatory authority having jurisdiction.", + "See \u201cFinancial and Commodity Market Risks \u2013 Commodity Price Risk,\u201d in Item 7 and \u201cRecoverable Energy Costs\u201d in Note A to the financial statements in Item 8.", + "From time to time, certain parties have petitioned the NYSPSC to review these provisions, the elimination of which could have a material adverse effect on the Companies\u2019 financial position, results of operations or liquidity", + "During 2014, 2013 and 2012, Netherland, Sewell & Associates, Inc. (\"NSAI\") prepared a certification of the prior year's reserves for the Alba field in E. G. The NSAI summary reports are filed as an exhibit to this Annual Report on Form 10-K. Members of the NSAI team have multiple years of industry experience, having worked for large, international oil and gas companies before joining NSAI.", + "The senior technical advisor has over 35 years of practical experience in petroleum geosciences, with over 15 years experience in the estimation and evaluation of reserves.", + "The second team member has over 10 years of practical experience in petroleum engineering, with 5 years experience in the estimation and evaluation of reserves.", + "Both are registered Professional Engineers in the State of Texas.", + "Ryder Scott Company (\"Ryder Scott\") also performed audits of the prior years' reserves of several of our fields in 2014, 2013 and 2012.", + "Their summary reports are filed as exhibits to this Annual Report on Form 10-K.", + "The team lead for Ryder Scott has over 20 years of industry experience, having worked for a major international oil and gas company before joining Ryder Scott.", + "He is a member of SPE, where he served on the Oil and Gas Reserves Committee, and is a registered Professional Engineer in the State of Texas.", + "Changes in Proved Undeveloped Reserves As of December 31, 2014, 728 mmboe of proved undeveloped reserves were reported, an increase of 101 mmboe from December 31, 2013.", + "The following table shows changes in total proved undeveloped reserves for 2014:", + "|Beginning of year|627|\n|Revisions of previous estimates|1|\n|Improved recovery|1|\n|Purchases of reserves in place|4|\n|Extensions, discoveries, and other additions|227|\n|Dispositions|-29|\n|Transfers to proved developed|-103|\n|End of year|728|\n", + "Significant additions to proved undeveloped reserves during 2014 included 121 mmboe in the Eagle Ford and 61 mmboe in the Bakken shale plays due to development drilling.", + "Transfers from proved undeveloped to proved developed reserves included 67 mmboe in the Eagle Ford, 26 mmboe in the Bakken and 1 mmboe in the Oklahoma Resource Basins due to development drilling and completions.", + "Costs incurred in 2014, 2013 and 2012 relating to the development of proved undeveloped reserves, were $3,149 million, $2,536 million and $1,995 million.", + "A total of 102 mmboe was booked as extensions, discoveries or other additions due to the application of reliable technology.", + "Technologies included statistical analysis of production performance, decline curve analysis, pressure and rate transient analysis, reservoir simulation and volumetric analysis.", + "The statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking proved reserves.", + "Projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete, or the timing of when additional gas compression is needed.", + "Of the 728 mmboe of proved undeveloped reserves at December 31, 2014, 19 percent of the volume is associated with projects that have been included in proved reserves for more than five years.", + "The majority of this volume is related to a compression project in E. G. that was sanctioned by our Board of Directors in 2004.", + "The timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels.", + "Performance of this field since the Board sanctioned the project has far exceeded expectations.", + "Estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010.", + "During 2012, the compression project received the approval of the E. G. government, allowing design and planning work to progress towards implementation, with completion expected by mid-2016.", + "The other component of Alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled in the second quarter of 2015.", + "Proved undeveloped reserves for the North Gialo development, located in the Libyan Sahara desert, were booked for the first time in 2010.", + "This development, which is anticipated to take more than five years to develop, is executed by the operator and encompasses a multi-year drilling program including the design, fabrication and installation of extensive liquid handling and gas recycling facilities.", + "Anecdotal evidence from similar development projects in the region lead to an expected project execution time frame of more than five years from the time the reserves were initially booked.", + "Interruptions associated with the civil unrest in 2011 and third-party labor strikes and civil unrest in 2013-2014 have also extended the project duration.", + "As of December 31, 2014, future development costs estimated to be required for the development of proved undeveloped crude oil and condensate, NGLs, natural gas and synthetic crude oil reserves related to continuing operations for the years 2015 through 2019 are projected to be $2,915 million, $2,598 million, $2,493 million, $2,669 million and $2,745 million." + ], + "question_id": "simplong-test-292", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percent change between net revenue in 2006 and 2007?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Mississippi, Inc. Management's Financial Discussion and Analysis 321 The net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the Municipal Energy Agency of Mississippi.", + "Gross operating revenues, fuel and purchased power expenses, and other regulatory charges Gross operating revenues increased primarily due to an increase of $152.5 million in fuel cost recovery revenues due to higher fuel rates, partially offset by a decrease of $43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts.", + "Fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power, partially offset by decreased demand and decreased recovery from customers of deferred fuel costs.", + "Other regulatory charges increased primarily due to increased recovery through the Grand Gulf rider of Grand Gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider.", + "There is no material effect on net income due to quarterly adjustments to the power management recovery rider.2007 Compared to 2006 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits).", + "Following is an analysis of the change in net revenue comparing 2007 to 2006.", + "||Amount (In Millions)|\n|2006 net revenue|$466.1|\n|Base revenue|7.9|\n|Volume/weather|4.5|\n|Transmission revenue|4.1|\n|Transmission equalization|4.0|\n|Reserve equalization|3.8|\n|Attala costs|-10.2|\n|Other|6.7|\n|2007 net revenue|$486.9|\n", + "The base revenue variance is primarily due to a formula rate plan increase effective July 2007.", + "The formula rate plan filing is discussed further in \"State and Local Rate Regulation\" below.", + "The volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors, including the effect of more favorable weather on billed electric sales in 2007 compared to 2006.", + "Billed electricity usage increased 214 GWh.", + "The increase in usage was partially offset by decreased usage in the industrial sector.", + "The transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006.", + "The transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among Entergy companies.", + "The reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among Entergy companies due to a FERC ruling regarding the inclusion of interruptible loads in reserve", + "Revenues and Expenses Premiums, Fees and Other Revenues Premiums, fees and other revenues increased by $2,185 million, or 7%, to $34,739 million for the year ended December 31, 2007 from $32,554 million for the comparable 2006 period.", + "The following table provides the change from the prior year in premiums, fees and other revenues by segment:", + "||| % of Total |\n|| $ Change (In millions)| $ Change|\n|Institutional|$594|27%|\n|Reinsurance|573|26|\n|International|560|26|\n|Individual|364|17|\n|Auto & Home|65|3|\n|Corporate & Other|29|1|\n|Total change|$2,185|100%|\n", + "The growth in the Institutional segment was primarily due to increases in the non-medical health & other and group life businesses.", + "The non-medical health & other business increased primarily due to growth in the dental, disability, accidental death & dismemberment (\u201cAD&D\u201d) and individual disability insurance (\u201cIDI\u201d) businesses.", + "Partially offsetting these increases is a decrease in the long-term care (\u201cLTC\u201d) business, net of a decrease resulting from a shift to deposit liability-type contracts in the current year, partially offset by growth in the business.", + "The group life business increased primarily due to business growth in term life and increases in corporate-owned life insurance and life insurance sold to postretirement benefit plans.", + "These increases in the non-medical health & other and group life businesses were partially offset by a decrease in the retirement & savings business.", + "The decrease in retirement & savings was primarily due to a decrease in structured settlement and pension closeout premiums, partially offset by an increase in other products.", + "The growth in the Reinsurance segment was primarily attributable to premiums from new facultative and automatic treaties and renewal premiums on existing blocks of business in all RGA\u2019s operating segments.", + "In addition, other revenues increased due to an increase in surrender charges on asset-intensive business reinsured and an increase in fees associated with financial reinsurance.", + "The growth in the International segment was primarily due to the following factors: ?", + "An increase in Mexico\u2019s premiums, fees and other revenues due to higher fees and growth in its institutional and universal life businesses, a decrease in experience refunds during the first quarter of 2007 on Mexico\u2019s institutional business, as well as the adverse impact in the prior year of an adjustment for experience refunds on Mexico\u2019s institutional business, offset by lower fees resulting from management\u2019s update of assumptions used to determine estimated gross profits and various one-time revenue items which benefited both the current and prior years. ?", + "Premiums, fees and other revenues increased in Hong Kong primarily due to the acquisition of the remaining 50% interest in MetLife Fubon and the resulting consolidation of the operation as well as business growth. ?", + "Chile\u2019s premiums, fees and other revenues increased primarily due to higher annuity sales, higher institutional premiums from its traditional and bank distribution channels, and the decrease in the prior year resulting from management\u2019s decision not to match aggressive pricing in the marketplace. ?", + "South Korea\u2019s premiums, fees and other revenues increased primarily due to higher fees from growth in its guaranteed annuity and variable universal life businesses. ?", + "Brazil\u2019s premiums, fees and other revenues increased due to changes in foreign currency exchange rates and business growth. ?", + "Premiums, fees and other revenues increased in Japan due to an increase in reinsurance assumed. ?", + "Australia\u2019s premiums, fees and other revenues increased primarily due to growth in the institutional and reinsurance business in\u0002force, an increase in retention levels and changes in foreign currency exchange rates. ?", + "Argentina\u2019s premiums, fees and other revenues increased due to higher pension contributions resulting from higher participant salaries and a higher salary threshold subject to fees and growth in bancassurance, offset by the reduction of cost of insurance fees as a result of the new pension system reform regulation. ?", + "Taiwan\u2019s and India\u2019s premiums, fees and other revenues increased primarily due to business growth.", + "These increases in premiums, fees and other revenues were partially offset by a decrease in the United Kingdom due to an unearned premium calculation refinement, partially offset by changes in foreign currency exchange rates.", + "The growth in the Individual segment was primarily due to higher fee income from variable life and annuity and investment-type products and growth in premiums from other life products, partially offset by a decrease in immediate annuity premiums and a decline in premiums associated with the Company\u2019s closed block business, in line with expectations.", + "The growth in the Auto & Home segment was primarily due to an increase in premiums related to increased exposures, an increase in various voluntary and involuntary programs, and a change in estimate on auto rate refunds due to a regulatory examination, as well as an increase in other revenues primarily due to slower than anticipated claim payments in 2006.", + "These increases were partially offset by a reduction in average earned premium per policy, and an increase in catastrophe reinsurance costs.", + "The increase in Corporate & Other was primarily related to the resolution of an indemnification claim associated with the 2000 acquisition of General American Life Insurance Company (\u201cGALIC\u201d), partially offset by an adjustment of surrender values on corporate\u0002owned life insurance policies.", + "Net Investment Income Net investment income increased by $1,924 million, or 11%, to $19,006 million for the year ended December 31, 2007 from $17,082 million for the comparable 2006 period.", + "Management attributes $1,336 million of this increase to growth in the average asset base and $588 million to an increase in yields.", + "The increase in net investment income from growth in the average asset base was primarily within fixed maturity securities, mortgage loans, real estate joint ventures and other limited partnership interests.", + "The increase in net", + "||December 31,|\n||2007|2006|2005|2004|2003|\n||(In millions)|\n| Balance Sheet Data -1||||||\n|Assets:||||||\n|General account assets|$398,403|$383,350|$353,776|$270,039|$251,085|\n|Separate account assets|160,159|144,365|127,869|86,769|75,756|\n|Total assets -2|$558,562|$527,715|$481,645|$356,808|$326,841|\n|Liabilities:||||||\n|Life and health policyholder liabilities -4|$278,246|$267,146|$257,258|$193,612|$177,947|\n|Property and casualty policyholder liabilities -4|3,324|3,453|3,490|3,180|2,943|\n|Short-term debt|667|1,449|1,414|1,445|3,642|\n|Long-term debt|9,628|9,129|9,489|7,412|5,703|\n|Collateral financing arrangements|5,732|850|\u2014|\u2014|\u2014|\n|Junior subordinated debt securities|4,474|3,780|2,533|\u2014|\u2014|\n|Payables for collateral under securities loaned and other transactions|44,136|45,846|34,515|28,678|27,083|\n|Other|17,017|17,899|15,976|12,888|12,618|\n|Separate account liabilities|160,159|144,365|127,869|86,769|75,756|\n|Total liabilities -2|523,383|493,917|452,544|333,984|305,692|\n|Stockholders\u2019 Equity||||||\n|Preferred stock, at par value|1|1|1|\u2014|\u2014|\n|Common stock, at par value|8|8|8|8|8|\n|Additional paid-in capital|17,098|17,454|17,274|15,037|14,991|\n|Retained earnings -5|19,884|16,574|10,865|6,608|4,193|\n|Treasury stock, at cost|-2,890|-1,357|-959|-1,785|-835|\n|Accumulated other comprehensive income -6|1,078|1,118|1,912|2,956|2,792|\n|Total stockholders\u2019 equity|35,179|33,798|29,101|22,824|21,149|\n|Total liabilities and stockholders\u2019 equity|$558,562|$527,715|$481,645|$356,808|$326,841|\n", + "|| Years Ended December 31,|\n|| 2007| 2006| 2005| 2004| 2003|\n| Other Data -1||||||\n|Net income available to common shareholders|$4,180|$6,159|$4,651|$2,758|$2,196|\n|Return on common equity -7|13.0%|21.9%|18.5%|12.5%|11.4%|\n|Return on common equity, excluding accumulated other comprehensive income|13.2%|22.6%|20.4%|14.4%|13.0%|\n| EPS Data -1||||||\n| Income from Continuing Operations Available to Common Shareholders Per Common Share||||||\n|Basic|$5.57|$3.85|$4.02|$3.43|$2.36|\n|Diluted|$5.44|$3.81|$3.98|$3.41|$2.34|\n| Income (loss) from Discontinued Operations Per Common Share||||||\n|Basic|$0.05|$4.24|$2.19|$0.35|$0.65|\n|Diluted|$0.04|$4.18|$2.18|$0.35|$0.64|\n| Cumulative Effect of a Change in Accounting Per Common Share -3||||||\n|Basic|$\u2014|$\u2014|$\u2014|$-0.11|$-0.04|\n|Diluted|$\u2014|$\u2014|$\u2014|$-0.11|$-0.04|\n| Net Income Available to Common Shareholders Per Common Share||||||\n|Basic|$5.62|$8.09|$6.21|$3.67|$2.97|\n|Diluted|$5.48|$7.99|$6.16|$3.65|$2.94|\n| Dividends Declared Per Common Share|$0.74|$0.59|$0.52|$0.46|$0.23|\n", + "Years Ended December 31, @t@ (1) On July 1, 2005, the Company acquired Travelers.", + "The 2005 selected financial data includes total revenues and total expenses of $966 million and $577 million, respectively, from the date of the acquisition.", + "See \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2014 Acquisitions and Dispositions.", + "\u201d (2) Discontinued Operations:" + ], + "question_id": "simplong-test-293", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "as of dec 31 , 2009 , what was the average loan commitment for the company for all of its total loan commitments , in millions>", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Latin American Investments During 2009, the Company acquired a land parcel located in Rio Clara, Brazil through a newly formed consolidated joint venture in which the Company has a 70% controlling ownership interest for a purchase price of 3.3 million Brazilian Reals (approximately USD $1.5 million).", + "This parcel will be developed into a 48,000 square foot retail shopping center.", + "Additionally, during 2009, the Company acquired a land parcel located in San Luis Potosi, Mexico, through an unconsolidated joint venture in which the Company has a noncontrolling interest, for an aggregate purchase price of approximately $0.8 million.", + "The Company recognized equity in income from its unconsolidated Mexican investments in real estate joint ventures of approximately $7.0 million, $17.1 million, and $5.2 million during 2009, 2008 and 2007, respectively.", + "The Company recognized equity in income from its unconsolidated Chilean investments in real estate joint ventures of approximately $0.4 million, $0.2 and $0.1 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Mexican subsidiaries aggregated approximately $23.4 million, $20.3 million, $8.5 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Brazilian subsidiaries aggregated approximately $1.5 million and $0.4 million during 2009 and 2008, respectively.", + "The Company\u2019s revenues from its consolidated Chilean subsidiaries aggregated less than $100,000 during 2009 and 2008, respectively.", + "Mortgages and Other Financing Receivables During 2009, the Company provided financing to five borrowers for an aggregate amount of approximately $8.3 million.", + "During 2009, the Company received an aggregate of approximately $40.4 million which fully paid down the outstanding balance on four mortgage receivables.", + "As of December 31, 2009, the Company had 37 loans with total commitments of up to $178.9 million, of which approximately $131.3 million has been funded.", + "Availability under the Company\u2019s revolving credit facilities are expected to be sufficient to fund these remaining commitments.", + "(See Note 10 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. ) Asset Impairments On a continuous basis, management assesses whether there are any indicators, including property operating performance and general market conditions, that the value of the Company\u2019s assets (including any related amortizable intangible assets or liabilities) may be impaired.", + "To the extent impairment has occurred, the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset.", + "During 2009, economic conditions had continued to experience volatility resulting in further declines in the real estate and equity markets.", + "Year over year increases in capitalization rates, discount rates and vacancies as well as the deterioration of real estate market fundamentals, negatively impacted net operating income and leasing which further contributed to declines in real estate markets in general.", + "As a result of the volatility and declining market conditions described above, as well as the Company\u2019s strategy in relation to certain of its non-retail assets, the Company recognized non-cash impairment charges during 2009, aggregating approximately $175.1 million, before income tax benefit of approximately $22.5 million and noncontrolling interests of approximately $1.2 million.", + "Details of these non-cash impairment charges are as follows (in millions):", + "|Impairment of property carrying values|$50.0|\n|Real estate under development|2.1|\n|Investments in other real estate investments|49.2|\n|Marketable securities and other investments|30.1|\n|Investments in real estate joint ventures|43.7|\n|Total impairment charges|$175.1|\n", + "(See Notes 2, 6, 8, 9, 10 and 11 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. )", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 13.", + "Stockholders\u2019 Equity \u2014 (continued) Dividend Restrictions and Payments The certificates of designation for the Series A and B Preferred Stock restrict the declaration of preferred dividends if we fail to meet specified capital adequacy, net income or stockholders\u2019 equity levels.", + "As of December 31, 2010, we have no preferred dividend restrictions.", + "On March 30, 2010, June 30, 2010, September 30, 2010 and December 30, 2010, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 11, 2010, June 10, 2010, September 9, 2010 and December 9, 2010, respectively.", + "On March 30, 2009, June 30, 2009, September 30, 2009 and December 30, 2009, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 12, 2009, June 11, 2009, September 10, 2009 and December 14, 2009, respectively.", + "On March 31, 2008, June 30, 2008, September 30, 2008 and December 30, 2008, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 13, 2008, June 12, 2008, September 11, 2008 and December 11, 2008, respectively.", + "Common Stock On December 3, 2010, we paid an annual dividend of $176.2 million, equal to $0.55 per share, to stockholders of record as of November 19, 2010.", + "On December 4, 2009, we paid an annual dividend of $159.5 million, equal to $0.50 per share, to stockholders of record as of November 13, 2009.", + "On December 5, 2008, we paid an annual dividend of $116.7 million, equal to $0.45 per share, to stockholders of record as of November 14, 2008.", + "Reconciliation of Outstanding Shares", + "| | Series A preferred stock| Series B preferred stock|Common stock|\n| |(in millions)|\n|Outstanding shares at January 1, 2008|3.0|10.0|259.1|\n|Shares issued|\u2014|\u2014|1.2|\n|Treasury stock acquired|\u2014|\u2014|-1.0|\n|Outstanding shares at December 31, 2008|3.0|10.0|259.3|\n|Shares issued|\u2014|\u2014|60.0|\n|Treasury stock acquired|\u2014|\u2014|-0.3|\n|Outstanding shares at December 31, 2009|3.0|10.0|319.0|\n|Shares issued|\u2014|\u2014|1.5|\n|Treasury stock acquired|\u2014|\u2014|-0.1|\n|Outstanding shares at December 31, 2010| 3.0| 10.0|320.4|\n", + "On May 11, 2009, we issued 58.2 million shares of common stock at a price of $19.75 per share.", + "Net proceeds from the issuance were $1,109.1 million.", + "The proceeds from this offering will be used for general corporate purposes.", + "During November 2007, our Board of Directors authorized a share repurchase program of up to $500.0 million of our outstanding common stock.", + "On November 30, 2007, we entered into an accelerated common stock repurchase agreement with a third party investment bank for an aggregate purchase price of $250.0 million.", + "On this date, we paid $250.0 million and received the initial delivery of 2.9 million common shares, while retaining the right to receive additional common shares over the program\u2019s execution period.", + "The accelerated common stock repurchase agreement was completed in January 2008, at which time we received 0.9 million additional common shares under this agreement.", + "In the fourth quarter of 2008, we suspended purchases of the remaining $250.0 million available under the November 2007 authorization.", + "Our Board of Directors has authorized various repurchase programs under which we are allowed to purchase shares of our outstanding common stock.", + "Shares repurchased under these programs are accounted for as treasury stock, carried at cost and reflected as a reduction to stockholders\u2019 equity.", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 19.", + "Quarterly Results of Operations (Unaudited) The following is a summary of unaudited quarterly results of operations.", + "| | For the three months ended|\n| | December 31| September 30 -1| June 30 -2| March 31|\n| |(in millions, except per share data) |\n| 2010|||||\n|Total revenues|$2,372.5|$2,288.5|$2,233.6|$2,264.0|\n|Total expenses|2,108.8|2,125.0|2,075.8|2,007.7|\n|Net income|218.1|151.3|144.2|203.6|\n|Net income available to common stockholders|199.3|142.2|134.0|190.8|\n|Basic earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.60|\n|Diluted earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.59|\n| 2009|||||\n|Total revenues|$2,232.4|$2,270.3|$2,157.8|$2,188.6|\n|Total expenses|2,062.9|2,022.0|1,959.9|2,058.5|\n|Net income|154.9|204.2|164.0|122.6|\n|Net income available to common stockholders|141.9|184.7|150.3|112.8|\n|Basic earnings per common share for net income available to common stockholders|0.44|0.58|0.52|0.43|\n|Diluted earnings per common share for net income available to common stockholders|0.44|0.57|0.52|0.43|\n", + "(1) During the third quarter of 2009, we discovered a prior period error related to DPAC amortization of certain contracts in our full service accumulation business.", + "We evaluated the materiality of the error from qualitative and quantitative perspectives and concluded it was not material to any prior periods.", + "The correction of the error in the third quarter of 2009 could be considered material to the results of operations for the three months ended September 30, 2009, but is not material to the results of operations for any annual period presented.", + "Accordingly, we made an adjustment in the third quarter of 2009 that resulted in a decrease in DPAC amortization expense.", + "On an after-tax basis, the adjustment for prior periods resulted in an $18.9 million increase in net income for the three months ended September 30, 2009.", + "(2) During the second quarter of 2010, we determined our residential mortgage loan portfolio, and in particular our home equity loan portfolio, had experienced an increase in severe delinquencies and loss severity from sustained elevated levels of unemployment along with continued depressed collateral values.", + "The deterioration resulted in an increase in delinquencies and default costs.", + "During the second quarter of 2010, we recorded a $41.9 million after-tax residential mortgage loan loss provision for our Bank and Trust Services business.", + "Of this residential mortgage loan loss provision, $21.4 million after-tax could be attributed to 2009.", + "We evaluated the qualitative and quantitative factors for materiality.", + "The adjustment related to prior periods could be considered material to the results of operations for the three months ended June 30, 2010, but was not material to the results of operations for any annual period presented.", + "The provision for loan loss is reported in net realized capital gains (losses) on our consolidated statements of operations and the adjustment for prior periods resulted in a decrease in net income for the three months ended June 30, 2010.20.", + "Condensed Consolidating Financial Information Principal Life has established special purpose entities to issue secured medium-term notes.", + "Under the program, the payment obligations of principal and interest on the notes are secured by funding agreements issued by Principal Life.", + "Principal Life\u2019s payment obligations on the funding agreements are fully and unconditionally guaranteed by PFG.", + "All of the outstanding stock of Principal Life is indirectly owned by PFG and PFG is the only guarantor of the payment obligations of the funding agreements.", + "The following tables set forth condensed consolidating financial information of (i) PFG, (ii) Principal Life, (iii) Principal Financial Services, Inc. (\u2018\u2018PFS\u2019\u2019) and all other direct and indirect subsidiaries of PFG on a combined basis and (iv) the eliminations necessary to arrive at the information for PFG on a consolidated basis as of December 31, 2010 and 2009, and for the years ended December 31, 2010, 2009 and 2008.", + "In presenting the condensed consolidating financial statements, the equity method of accounting has been applied to (i) PFG\u2019s interest in PFS, (ii) Principal Life\u2019s interest in all direct subsidiaries of Principal Life and (iii) PFS\u2019s interest in Principal Life even though all such subsidiaries meet the requirements to be consolidated under U. S. GAAP.", + "Earnings of subsidiaries are, therefore, reflected in the parent\u2019s investment and earnings.", + "All intercompany balances and transactions, including elimination of the parent\u2019s investment in subsidiaries, between PFG, Principal Life and PFS and all other subsidiaries have been eliminated, as shown in the column \u2018\u2018Eliminations and Other.", + "\u2019\u2019 These condensed consolidating financial statements should be read in conjunction with the consolidated financial statements.", + "The financial information", + "exposures.", + "We are not relying on said guarantors and are directly evaluating exposure to these investments.", + "The following table presents our top ten exposures as of December 31, 2010." + ], + "question_id": "simplong-test-294", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Premiums reach in 2012 if it continues to grow at its current rate? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Operating general and administrative expense, which excludes integration charges, increased $123 million, or 10%, to $1.3 billion for the year ended December 31, 2011 compared to $1.2 billion for the prior year reflecting an additional four months of ongoing expenses of Columbia Management, as well as higher investment spending compared to the prior year, partially offset by lower hedge fund performance compensation.", + "Annuities Our Annuities segment provides variable and fixed annuity products of RiverSource Life companies to retail clients.", + "Prior to the fourth quarter of 2010, we provided our variable annuity products through our affiliated advisors as well as unaffiliated advisors through third-party distribution.", + "During the fourth quarter of 2010, we discontinued new sales of our variable annuities in non-Ameriprise channels to further strengthen the risk and return characteristics of the business.", + "We provide our fixed annuity products through affiliated advisors as well as unaffiliated advisors through third-party distribution.", + "Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows.", + "Revenues for our fixed annuity products are primarily earned as net investment income on invested assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances.", + "We also earn net investment income on invested assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business.", + "Intersegment revenues for this segment reflect fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource Variable Series Trust, Columbia Funds Variable Insurance Trust, Columbia Funds Variable Insurance Trust I and Wanger Advisors Trust funds under the variable annuity contracts.", + "Intersegment expenses for this segment include distribution expenses for services provided by the Advice & Wealth Management segment, as well as expenses for investment management services provided by the Asset Management segment.", + "Management believes that operating measures, which exclude net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, for our Annuities segment, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis.", + "See our discussion on the use of these non-GAAP measures in the Overview section above.", + "The following table presents the results of operations of our Annuities segment:", + "| |Years Ended December 31,|||\n| |2011 |2010|||\n| |GAAP |Less: Adjustments -1|Operating |GAAP|Less: Adjustments -1|Operating|Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$622|$\u2014|$622|$546|$\u2014|$546|$76|14%|\n|Distribution fees|312|\u2014|312|284|\u2014|284|28|10|\n|Net investment income|1,280|1|1,279|1,318|9|1,309|-30|-2|\n|Premiums|161|\u2014|161|150|\u2014|150|11|7|\n|Other revenues|256|\u2014|256|202|\u2014|202|54|27|\n|Total revenues|2,631|1|2,630|2,500|9|2,491|139|6|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|2,631|1|2,630|2,500|9|2,491|139|6|\n| Expenses|||||||||\n|Distribution expenses|315|\u2014|315|268|\u2014|268|47|18|\n|Interest credited to fixed accounts|711|\u2014|711|762|\u2014|762|-51|-7|\n|Benefits, claims, losses and settlement expenses|472|67|405|691|9|682|-277|-41|\n|Amortization of deferred acquisition costs|398|-8|406|-76|16|-92|498|NM|\n|Interest and debt expense|1|\u2014|1|2|\u2014|2|-1|-50|\n|General and administrative expense|213|\u2014|213|205|\u2014|205|8|4|\n|Total expenses|2,110|59|2,051|1,852|25|1,827|224|12|\n|Pretax income|$521|$-58|$579|$648|$-16|$664|$-85|-13%|\n", + "NM Not Meaningful.", + "(1) Adjustments include net realized gains or losses and the market impact on variable annuity living benefits, net of hedges, DSIC and DAC amortization.", + "Our Annuities segment pretax income decreased $127 million, or 20%, to $521 million for the year ended December 31, 2011 compared to $648 million for the prior year.", + "Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, decreased $85 million, or 13%, to $579 million for the year ended December 31, 2011 compared to", + "apply as it has no impact on plan obligations.", + "For 2015, the healthcare trend rate was 7%, the ultimate trend rate was 5%, and the year the ultimate trend rate is reached was 2019.", + "Projected benefit payments are as follows:", + "|2017|$11.5|\n|2018|11.0|\n|2019|10.7|\n|2020|10.2|\n|2021|9.7|\n|2022\u20132026|35.3|\n", + "These estimated benefit payments are based on assumptions about future events.", + "Actual benefit payments may vary significantly from these estimates.17.", + "COMMITMENTS AND CONTINGENCIES LITIGATION We are involved in various legal proceedings, including commercial, competition, environmental, health, safety, product liability, and insurance matters.", + "In September 2010, the Brazilian Administrative Council for Economic Defense (CADE) issued a decision against our Brazilian subsidiary, Air Products Brasil Ltda.", + ", and several other Brazilian industrial gas companies for alleged anticompetitive activities.", + "CADE imposed a civil fine of R$179.2 million (approximately $55 at 30 September 2016) on Air Products Brasil Ltda.", + "This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice, whose investigation began in 2003, alleging violation of competition laws with respect to the sale of industrial and medical gases.", + "The fines are based on a percentage of our total revenue in Brazil in 2003.", + "We have denied the allegations made by the authorities and filed an appeal in October 2010 with the Brazilian courts.", + "On 6 May 2014, our appeal was granted and the fine against Air Products Brasil Ltda.", + "was dismissed.", + "CADE has appealed that ruling and the matter remains pending.", + "We, with advice of our outside legal counsel, have assessed the status of this matter and have concluded that, although an adverse final judgment after exhausting all appeals is possible, such a judgment is not probable.", + "As a result, no provision has been made in the consolidated financial statements.", + "We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $55 at 30 September 2016) plus interest accrued thereon until final disposition of the proceedings.", + "Other than this matter, we do not currently believe there are any legal proceedings, individually or in the aggregate, that are reasonably possible to have a material impact on our financial condition, results of operations, or cash flows.", + "ENVIRONMENTAL In the normal course of business, we are involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA: the federal Superfund law); Resource Conservation and Recovery Act (RCRA); and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation.", + "Presently, there are approximately 33 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites.", + "We continually monitor these sites for which we have environmental exposure.", + "Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.", + "The consolidated balance sheets at 30 September 2016 and 2015 included an accrual of $81.4 and $80.6, respectively, primarily as part of other noncurrent liabilities.", + "The environmental liabilities will be paid over a period of up to 30 years.", + "We estimate the exposure for environmental loss contingencies to range from $81 to a reasonably possible upper exposure of $95 as of 30 September 2016.", + "HENRY SCHEIN, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) (in thousands, except per share data) 88 Note 15 \u2013 Segment and Geographic Data We conduct our business through two reportable segments: health care distribution and technology and value\u0002added services.", + "These segments offer different products and services to the same customer base.", + "The health care distribution reportable segment aggregates our global dental, animal health and medical operating segments.", + "This segment consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.", + "Our global dental group serves office-based dental practitioners, dental laboratories, schools and other institutions.", + "Our global animal health group serves animal health practices and clinics.", + "Our global medical group serves office-based medical practitioners, ambulatory surgery centers, other alternate-care settings and other institutions.", + "Our global dental, animal health and medical groups serve practitioners in 25 countries worldwide.", + "Our global technology and value-added services group provides software, technology and other value-added services to health care practitioners.", + "Our technology group offerings include practice management software systems for dental and medical practitioners and animal health clinics.", + "Our value-added practice solutions include financial services on a non-recourse basis, e-services and continuing education services for practitioners.", + "Beginning with the first quarter of 2012, we have reported net sales and prior-year sales comparisons for each of our global dental, animal health and medical and global technology and value-added services business groups.", + "This sales reporting is consistent with our global business groups as realigned in 2012.", + "These groups have been formed to provide distinct organizational focus for reaching and serving each practitioner segment with the benefits of a global perspective, as well as global product and service offerings and best practices.", + "We will continue to report financial results for our health care distribution and technology and value-added services reportable segments.", + "The health care distribution segment comprises three global operating segments (dental, animal health and medical) and the technology and value-added services segment remains unchanged.", + "In connection with this change in business groups, goodwill was reallocated to the new reporting units.", + "We reviewed the newly allocated goodwill and determined that there was no impairment.", + "The following tables present information about our reportable and operating segments:", + "|||Years Ended|\n|||December 28, 2013|December 29, 2012|December 31, 2011|\n|Net Sales:||||\n||Health care distribution -1:||||\n||Dental|$4,997,972|$4,774,482|$4,764,898|\n||Animal health|2,599,461|2,321,151|2,010,270|\n||Medical|1,643,167|1,560,921|1,504,454|\n||Total health care distribution|9,240,600|8,656,554|8,279,622|\n||Technology and value-added services -2|320,047|283,413|250,620|\n||Total|$9,560,647|$8,939,967|$8,530,242|\n|-1|Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and|\n||generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.|\n|-2|Consists of practice management software and other value-added products, which are distributed primarily to health care providers,|\n||and financial and other services, including e-services and continuing education services for practitioners.|\n", + "(1) Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.", + "(2) Consists of practice management software and other value-added products, which are distributed primarily to health care providers, and financial and other services, including e-services and continuing education services for practitioners.", + "Notes to Consolidated Financial Statements Note 8.", + "Property, Plant and Equipment \u0010 (Continued) Offshore Drilling Equipment In the third quarter of 2010, Diamond Offshore completed the sale of one of its high performance, premium jack\u0002up drilling rigs, the Ocean Shield for a gross purchase price of $186 million and recognized a pretax gain of approximately $33 million.", + "Natural Gas and Oil Proved and Unproved Properties Sale of Assets In 2010, HighMount completed the sales of substantially all exploration and production assets located in the Antrim Shale in Michigan and in the Black Warrior Basin in Alabama for $540 million.", + "In accordance with the full cost method of accounting, proceeds from these sales were accounted for as reductions of capitalized costs, and recorded as credits to Accumulated depreciation, depletion and amortization.", + "See Note 2 for additional information related to these sales.", + "Impairment of Natural Gas and Oil Properties At March 31, 2009 and December 31, 2008, HighMount recorded non-cash ceiling test impairment charges of $1,036 million ($660 million after tax) and $691 million ($440 million after tax), related to its carrying value of natural gas and oil properties.", + "The impairments were recorded as credits to DD&A.", + "The write-downs were the result of declines in commodity prices.", + "Had the effects of HighMount\u2019s cash flow hedges not been considered in calculating the ceiling limitation, the impairments would have been $1,230 million ($784 million after tax) in 2009 and $873 million ($555 million, after tax) in 2008.", + "No such impairment was required during 2010.", + "Costs Not Being Amortized HighMount excludes from amortization the cost of unproved properties, the cost of exploratory wells in progress and major development projects in progress.", + "Natural gas and oil property and equipment costs not being amortized as of December 31, 2010, are as follows, by the year in which such costs were incurred:", + "||Total|2010|2009|2008|2007|\n| (In millions)||||||\n|Acquisition costs|$244|$9|$1|$1|$233|\n|Exploration costs|2|1||1||\n|Capitalized interest|26|15|4|5|2|\n|Total excluded costs|$272|$25|$5|$7|$235|\n", + "Note 9.", + "Claim and Claim Adjustment Expense Reserves CNA\u2019s property and casualty insurance claim and claim adjustment expense reserves represent the estimated amounts necessary to resolve all outstanding claims, including claims that are incurred but not reported (\u201cIBNR\u201d) as of the reporting date.", + "CNA\u2019s reserve projections are based primarily on detailed analysis of the facts in each case, CNA\u2019s experience with similar cases and various historical development patterns.", + "Consideration is given to such historical patterns as field reserving trends and claims settlement practices, loss payments, pending levels of unpaid claims and product mix, as well as court decisions, economic conditions and public attitudes.", + "All of these factors can affect the estimation of claim and claim adjustment expense reserves.", + "Establishing claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves for catastrophic events that have occurred, is an estimation process.", + "Many factors can ultimately affect the final settlement of a claim and, therefore, the necessary reserve.", + "Changes in the law, results of litigation, medical costs, the cost of repair materials and labor rates can all affect ultimate claim costs.", + "In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of the claim, the more variable the ultimate settlement amount can be.", + "Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably estimable than long-tail claims, such as workers\u2019 compensation,", + "Item 1. Business CNA Financial Corporation \u2013 (Continued) The loss reserve development table is cumulative and, therefore, ending balances should not be added since the amount at the end of each calendar year includes activity for both the current and prior years.", + "The development amounts in the table below include the impact of commutations, but exclude the impact of the allowance for doubtful accounts on reinsurance receivables.", + "|| Schedule of Loss Reserve Development|\n| Year Ended December 31|2000|2001(a)|2002(b)|2003|2004|2005|2006|2007|2008|2009| 2010(c)|\n| (In millions of dollars)||||||||||||\n|Originally reported gross reserves for unpaid claim and claim adjustment expenses|26,510|29,649|25,719|31,284|31,204|30,694|29,459|28,415|27,475|26,712| 25,412|\n|Originally reported ceded recoverable|7,333|11,703|10,490|13,847|13,682|10,438|8,078|6,945|6,213|5,524| 6,060|\n|Originally reported net reserves for unpaid claim and claim adjustmentexpenses|19,177|17,946|15,229|17,437|17,522|20,256|21,381|21,470|21,262|21,188| 19,352|\n|Cumulative net paid as of:||||||||||||\n|One year later|7,686|5,981|5,373|4,382|2,651|3,442|4,436|4,308|3,930|3,762| -|\n|Two years later|11,992|10,355|8,768|6,104|4,963|7,022|7,676|7,127|6,746|-| -|\n|Three years later|15,291|12,954|9,747|7,780|7,825|9,620|9,822|9,102|-|-| -|\n|Four years later|17,333|13,244|10,870|10,085|9,914|11,289|11,312|-|-|-| -|\n|Five years later|17,775|13,922|12,814|11,834|11,261|12,465|-|-|-|-| -|\n|Six years later|18,970|15,493|14,320|12,988|12,226|-|-|-|-|-| -|\n|Seven years later|20,297|16,769|15,291|13,845|-|-|-|-|-|-| -|\n|Eight years later|21,382|17,668|16,022|-|-|-|-|-|-|-| -|\n|Nine years later|22,187|18,286|-|-|-|-|-|-|-|-| -|\n|Ten years later|22,826|-|-|-|-|-|-|-|-|-| -|\n|Net reserves re-estimated as of:||||||||||||\n|End of initial year|19,177|17,946|15,229|17,437|17,522|20,256|21,381|21,470|21,262|21,188| 19,352|\n|One year later|21,502|17,980|17,650|17,671|18,513|20,588|21,601|21,463|21,021|20,643| -|\n|Two years later|21,555|20,533|18,248|19,120|19,044|20,975|21,706|21,259|20,472|-| -|\n|Three years later|24,058|21,109|19,814|19,760|19,631|21,408|21,609|20,752|-|-| -|\n|Four years later|24,587|22,547|20,384|20,425|20,212|21,432|21,286|-|-|-| -|\n|Five years later|25,594|22,983|21,076|21,060|20,301|21,326|-|-|-|-| -|\n|Six years later|26,023|23,603|21,769|21,217|20,339|-|-|-|-|-| -|\n|Seven years later|26,585|24,267|21,974|21,381|-|-|-|-|-|-| -|\n|Eight years later|27,207|24,548|22,168|-|-|-|-|-|-|-| -|\n|Nine years later|27,510|24,765|-|-|-|-|-|-|-|-| -|\n|Ten years later|27,702|-|-|-|-|-|-|-|-|-| -|\n|Total net (deficiency) redundancy|-8,525|-6,819|-6,939|-3,944|-2,817|-1,070|95|718|790|545| -|\n|Reconciliation to gross re-estimated reserves:||||||||||||\n|Net reserves re-estimated|27,702|24,765|22,168|21,381|20,339|21,326|21,286|20,752|20,472|20,643| -|\n|Re-estimated ceded recoverable|11,397|16,911|16,279|14,639|13,507|10,846|8,541|7,180|6,168|5,559| -|\n|Total gross re-estimated reserves|39,099|41,676|38,447|36,020|33,846|32,172|29,827|27,932|26,640|26,202| -|\n|Total gross (deficiency) redundancy|-12,589|-12,027|-12,728|-4,736|-2,642|-1,478|-368|483|835|510| -|\n|Net (deficiency) redundancy related to:||||||||||||\n|Asbestos|-1,590|-818|-827|-177|-123|-113|-112|-107|-79|-| -|\n|Environmental pollution|-635|-288|-282|-209|-209|-159|-159|-159|-76|-| -|\n|Total asbestos and environmental pollution|-2,225|-1,106|-1,109|-386|-332|-272|-271|-266|-155|-| -|\n|Core (Non-asbestos and environmental pollution)|-6,300|-5,713|-5,830|-3,558|-2,485|-798|366|984|945|545| -|\n|Total net (deficiency) redundancy|-8,525|-6,819|-6,939|-3,944|-2,817|-1,070|95|718|790|545| -|\n", + "(a) Effective January 1, 2001, CNA established a new life insurance company, CNA Group Life Assurance Company (\u201cCNAGLA\u201d).", + "Further, on January 1, 2001, $1.1 billion of reserves were transferred from CCC to CNAGLA.", + "(b) Effective October 31, 2002, CNA sold CNA Reinsurance Company Limited.", + "As a result of the sale, net reserves were reduced by $1.3 billion.", + "(c) Effective January 1, 2010, CNA ceded approximately $1.5 billion of net asbestos and environmental pollution (\u201cA&EP\u201d) claim and allocated claim adjustment expense reserves relating to its continuing operations under a retroactive reinsurance agreement with an aggregate limit of $4.0 billion, as further discussed in Note 9 of the Notes to Consolidated Financial Statements included under Item 8.", + "PART IVItem 15.", + "Exhibits, Financial Statement Schedules(1) Financial StatementsOur Consolidated Financial Statements have been prepared in accordance with Item 8.", + "Financial Statements and Supplementary Data and are included beginning on page F-1 of this report.", + "(2) Financial Statement SchedulesSchedule II: Valuation and Qualifying Accounts for the three years ended December 31, 2018 are included on page 61." + ], + "question_id": "simplong-test-295", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Gas purchased for resale, what's the increasing rate of Operating revenues?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HR Solutions", + "|Years ended December 31,|2010|2009|2008|\n|Revenue|$2,111|$1,267|$1,356|\n|Operating income|234|203|208|\n|Operating margin|11.1%|16.0%|15.3%|\n", + "In October 2010, we completed the acquisition of Hewitt, one of the world\u2019s leading human resource consulting and outsourcing companies.", + "Hewitt operates globally together with Aon\u2019s existing consulting and outsourcing operations under the newly created Aon Hewitt brand.", + "Hewitt\u2019s operating results are included in Aon\u2019s results of operations beginning October 1, 2010.", + "Our HR Solutions segment generated approximately 25% of our consolidated total revenues in 2010 and provides a broad range of human capital services, as follows: Consulting Services: ?", + "Health and Benefits advises clients about how to structure, fund, and administer employee benefit programs that attract, retain, and motivate employees.", + "Benefits consulting includes health and welfare, executive benefits, workforce strategies and productivity, absence management, benefits administration, data-driven health, compliance, employee commitment, investment advisory and elective benefits services. ?", + "Retirement specializes in global actuarial services, defined contribution consulting, investment consulting, tax and ERISA consulting, and pension administration. ?", + "Compensation focuses on compensatory advisory/counsel including: compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness, with special expertise in the financial services and technology industries. ?", + "Strategic Human Capital delivers advice to complex global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management.", + "Outsourcing Services: ?", + "Benefits Outsourcing applies our HR expertise primarily through defined benefit (pension), defined contribution (401(k)), and health and welfare administrative services.", + "Our model replaces the resource-intensive processes once required to administer benefit plans with more efficient, effective, and less costly solutions. ?", + "Human Resource Business Processing Outsourcing (\u2018\u2018HR BPO\u2019\u2019) provides market-leading solutions to manage employee data; administer benefits, payroll and other human resources processes; and record and manage talent, workforce and other core HR process transactions as well as other complementary services such as absence management, flexible spending, dependent audit and participant advocacy.", + "Beginning in late 2008, the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace.", + "Weak economic conditions globally continued throughout 2010.", + "The prolonged economic downturn is adversely impacting our clients\u2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate.", + "While we believe that the majority of our practices are well positioned to manage through this time, these challenges are reducing demand for some of our services and putting", + "has liability.", + "For a further discussion of claims and possible claims against O&R under Superfund, see Note G to the financial statements in Item 8.", + "Manufactured Gas Sites O&R and its predecessors formerly owned and operated manufactured gas plants at seven sites (O&R MGP Sites) in Orange County and Rockland County, New York.", + "Three of these sites are now owned by parties other than O&R, and have been redeveloped by them for residential, commercial or industrial uses.", + "The NYSDEC is requiring O&R to develop and implement remediation programs for the O&R MGP Sites including any neighboring areas to which contamination may have migrated.", + "O&R has completed remedial investigations at all seven of its MGP sites and has received the NYSDEC\u2019s decision regarding the remedial work to be performed at six of the sites.", + "Of the six sites, O&R has completed remediation at four sites.", + "Remedial construction was initiated on a portion of one of the remaining sites in 2018 and remedial design is ongoing for the other remaining sites.", + "The company estimates that its undiscounted potential liability for the completion of the site investigation and cleanup of the known contamination on MGP sites could range from $86 million to $142 million.", + "Superfund Sites O&R is a PRP at Superfund sites involving other PRPs, and participates in PRP groups at those sites.", + "The company is not managing the site investigation and remediation at these multiparty Superfund sites.", + "Work at these sites is in various stages, and investigation, remediation and monitoring activities at some of these sites is expected to continue over extended periods of time.", + "The company believes that it is unlikely that monetary sanctions, such as penalties, will be imposed by any governmental authority with respect to these sites.", + "The following table lists each of the Superfund sites for which the company anticipates it may have liability.", + "The table also shows for each such site its location, the year in which the company was designated or alleged to be a PRP or to otherwise have responsibilities for the site (shown in the table under \u201cStart\u201d), the name of the court or agency in which proceedings for the site are pending and O&R\u2019s estimated percentage of the total liability for each site.", + "The company currently estimates that its potential liability for investigation, remediation, monitoring and environmental damages in aggregate for the sites below is less than $1 million.", + "Superfund liability is joint and several.", + "The company\u2019s estimate of its liability for each site was determined pursuant to consent decrees, settlement agreements or otherwise and in light of the financial condition of other PRPs.", + "The company\u2019s actual liability could differ substantially from amounts estimated.", + "|Site|Location|Start|Court orAgency|% of TotalLiability|\n|Metal Bank of America|Philadelphia, PA|1993|EPA|4.6%|\n|Borne Chemical|Elizabeth, NJ|1997|NJDEP|2.3%|\n|Ellis Road|Jacksonville, FL|2011|EPA|0.2%|\n", + "Other Federal, State and Local Environmental Provisions Toxic Substances Control Act Virtually all electric utilities, including CECONY, own equipment containing PCBs.", + "PCBs are regulated under the Federal Toxic Substances Control Act of 1976.", + "The Utilities have procedures in place to manage and dispose of oil and equipment containing PCBs properly when they are removed from service.", + "Water Quality Under NYSDEC regulations, the operation of CECONY\u2019s generating facilities requires permits for water discharges and water withdrawals.", + "Conditions to the renewal of such permits may include limitations on the operations of the permitted facility or requirements to install certain equipment, the cost of which could be substantial.", + "For information about the company\u2019s generating facilities, see \u201cCECONY \u2013 Electric Operations \u2013 Electric Facilities\u201d and \u201cSteam Operations \u2013 Steam Facilities\u201d above in this Item 1.", + "Certain governmental authorities are investigating contamination in the Hudson River and the New York Harbor.", + "These waters run through portions of CECONY\u2019s service area.", + "Governmental authorities could require entities that released hazardous substances that contaminated these waters to bear the cost of investigation and remediation, which could be substantial.", + "Fuel expenses increased $23 million in 2017 compared with 2016 due to higher unit costs.", + "Other operations and maintenance expenses decreased $119 million in 2017 compared with 2016 due primarily to lower costs for pension and other postretirement benefits ($89 million) and other employee benefits related to a rabbi trust ($22 million).", + "Depreciation and amortization increased $60 million in 2017 compared with 2016 due primarily to higher electric utility plant balances.", + "Taxes, other than income taxes increased $78 million in 2017 compared with 2016 due primarily to higher property taxes ($97 million) and the absence in 2017 of a favorable state audit settlement in 2016 ($5 million), offset in part by deferral of under-collected property taxes due to new property tax rates for fiscal year 2017 \u2013 2018 ($21 million) and lower state and local taxes ($4 million).", + "Gas CECONY\u2019s results of gas operations for the year ended December 31, 2017 compared with the year ended December 31, 2016 is as follows", + "||For the Years Ended December 31,|\n|(Millions of Dollars)|2017|2016|Variation|\n|Operating revenues|$1,901|$1,508|$393|\n|Gas purchased for resale|510|319|191|\n|Other operations and maintenance|413|378|35|\n|Depreciation and amortization|185|159|26|\n|Taxes, other than income taxes|298|265|33|\n|Gas operating income|$495|$387|$108|\n", + "CECONY\u2019s gas sales and deliveries, excluding off-system sales, in 2017 compared with 2016 were", + "||Thousands of Dt Delivered|Revenues in Millions (a)|\n||For the Years Ended||For the Years Ended||\n|Description|December 31, 2017|December 31, 2016|Variation|Percent Variation|December 31, 2017|December 31, 2016|Variation|Percent Variation|\n|Residential|52,244|47,794|4,450|9.3%|$802|$667|$135|20.2%|\n|General|30,761|28,098|2,663|9.5|334|266|68|25.6|\n|Firm transportation|71,353|68,442|2,911|4.3|524|426|98|23.0|\n|Total firm sales and transportation|154,358|144,334|10,024|6.9(b)|1,660|1,359|301|22.1|\n|Interruptible sales (c)|7,553|8,957|-1,404|-15.7|35|34|1|2.9|\n|NYPA|37,033|43,101|-6,068|-14.1|2|2|\u2014|\u2014|\n|Generation plants|61,800|87,835|-26,035|-29.6|25|25|\u2014|\u2014|\n|Other|21,317|21,165|152|0.7|31|32|-1|-3.1|\n|Other operating revenues (d)|\u2014|\u2014|\u2014|\u2014|148|56|92|Large|\n|Total|282,061|305,392|-23,331|-7.6%|$1,901|$1,508|$393|26.1%|\n", + "(a) Revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism, as a result of which, delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "(b) After adjusting for variations, primarily billing days, firm gas sales and transportation volumes in the company\u2019s service area increased 5.9 percent in 2017 compared with 2016, reflecting primarily increased volumes attributable to the growth in the number of gas customers.", + "(c) Includes 3,816 thousands and 4,708 thousands of Dt for 2017 and 2016, respectively, which are also reflected in firm transportation and other.", + "(d) Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company\u2019s rate plans.", + "See Note B to the financial statements in Item 8.", + "Operating revenues increased $393 million in 2017 compared with 2016 due primarily to increased gas purchased for resale expense ($191 million) and higher revenues from the gas rate plan and growth in the number of customers ($182 million).", + "Gas purchased for resale increased $191 million in 2017 compared with 2016 due to higher unit costs ($176 million) and purchased volumes ($15 million)." + ], + "question_id": "simplong-test-296", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of Cash and cash equivalents and Goodwill and intangible assets, net and Borrowings in 2017? (in dollars in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "||December 31,|\n|(in millions)|2017|2016|2015|2014|2013|\n|Balance sheet data:||||||\n|Cash and cash equivalents|$6,894|$6,091|$6,083|$5,723|$4,390|\n|Goodwill and intangible assets, net|30,609|30,481|30,495|30,305|30,481|\n|Total assets-1|220,217|220,177|225,261|239,792|219,859|\n|Less:||||||\n|Separate account assets-2|149,937|149,089|150,851|161,287|155,113|\n|Collateral held under securities lending agreements-2|24,190|27,792|31,336|33,654|21,788|\n|Consolidated investment vehicles-3|580|375|678|3,787|2,714|\n|Adjusted total assets|$45,510|$42,921|$42,396|$41,064|$40,244|\n|Borrowings|5,014|4,915|4,930|4,922|4,925|\n|Total BlackRock, Inc. stockholders\u2019 equity|$31,825|$29,098|$28,503|$27,366|$26,460|\n|Assets under management:||||||\n|Equity:||||||\n|Active|$311,209|$275,033|$281,319|$292,802|$317,262|\n|iSharesETFs|1,329,610|951,252|823,156|790,067|718,135|\n|Non-ETF index|1,730,822|1,430,891|1,319,297|1,368,242|1,282,298|\n|Equity subtotal|3,371,641|2,657,176|2,423,772|2,451,111|2,317,695|\n|Fixed income:||||||\n|Active|815,135|749,996|719,653|701,324|652,209|\n|iSharesETFs|395,252|314,707|254,190|217,671|178,835|\n|Non-ETF index|645,078|507,662|448,525|474,658|411,142|\n|Fixed income subtotal|1,855,465|1,572,365|1,422,368|1,393,653|1,242,186|\n|Multi-asset|480,278|395,007|376,336|377,837|341,214|\n|Alternatives:||||||\n|Core|98,533|88,630|92,085|88,006|85,026|\n|Currency and commodities-4|30,814|28,308|20,754|23,234|26,088|\n|Alternatives subtotal|129,347|116,938|112,839|111,240|111,114|\n|Long-term|5,836,731|4,741,486|4,335,315|4,333,841|4,012,209|\n|Cash management|449,949|403,584|299,884|296,353|275,554|\n|Advisory-5|1,515|2,782|10,213|21,701|36,325|\n|Total|$6,288,195|$5,147,852|$4,645,412|$4,651,895|$4,324,088|\n", + "(1) Includes separate account assets that are segregated funds held for purposes of funding individual and group pension contracts and collateral held under securities lending agreements related to these assets that have equal and offsetting amounts recorded in liabilities and ultimately do not impact BlackRock\u2019s stockholders\u2019 equity or cash flows.", + "(2) Equal and offsetting amounts, related to separate account assets and collateral held under securities lending agreements, are recorded in liabilities.", + "(3) Amounts include assets held by consolidated sponsored investment products.", + "During 2015, the Company adopted new accounting guidance on consolidations effective January 1, 2015 using the modified retrospective method.", + "As a result of the adoption, the Company\u2019s balance sheet at December 31, 2015 reflects the deconsolidation of the Company\u2019s previously consolidated collateralized loan obligations.", + "(4) Amounts include commodity iShares ETFs.", + "(5) Advisory AUM represents long-term portfolio liquidation assignments.", + "||GAAP|As adjusted|\n|(in millions)|2017|2016|2015|2017|2016|2015|\n|Operating income-1|$5,272|$4,570|$4,664|$5,287|$4,674|$4,695|\n|Total nonoperating income (expense)(1)(2)|-32|-108|-69|-32|-108|-70|\n|Income before income taxes-2|$5,240|$4,462|$4,595|$5,255|$4,566|$4,625|\n|Income tax expense-3|$270|$1,290|$1,250|$1,539|$1,352|$1,312|\n|Effective tax rate-3|5.2%|28.9%|27.2%|29.3%|29.6%|28.4%|\n", + "(1) See Non-GAAP Financial Measures for further information on and reconciliation of as adjusted items.", + "(2) Net of net income (loss) attributable to NCI.", + "(3) GAAP income tax expense and effective tax rate for 2017 reflects $1.2 billion of a net tax benefit related to the 2017 Tax Act.", + "The Company\u2019s tax rate is affected by tax rates in foreign jurisdictions and the relative amount of income earned in those jurisdictions, which the Company expects to be fairly consistent in the near term.", + "The significant foreign jurisdictions that have lower statutory tax rates than the U. S. federal statutory rate of 35% include the United Kingdom, Channel Islands, Ireland and Netherlands.2017.", + "Income tax expense (GAAP) reflected: ?", + "the following amounts related to the 2017 Tax Act: ?", + "$106 million tax expense related to the revaluation of certain deferred income tax assets; ?", + "$1,758 million noncash tax benefit related to the revaluation of certain deferred income tax liabilities; and ?", + "$477 million tax expense related to the mandatory deemed repatriation of undistributed foreign earnings and profits. ?", + "a noncash expense of $16 million, primarily associated with the revaluation of certain deferred income tax liabilities as a result of domestic state and local tax changes; and ?", + "$173 million discrete tax benefits, primarily related to stock-based compensation awards, including $151 million related to the adoption of new accounting guidance related to stock-based compensation awards.", + "See Note 2, Significant Accounting Policies, for further information.", + "The as adjusted effective tax rate of 29.3% for 2017 excluded the noncash deferred tax revaluation benefit of $1,758 million and noncash expense of $16 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.", + "In addition, the deemed repatriation tax expense of $477 million has been excluded from the as adjusted results due to the one-time nature and to ensure comparability among periods presented.2016.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $30 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $65 million of nonrecurring items, including the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 29.6% for 2016 excluded the net noncash benefit of $30 million mentioned above as it will not have a cash flow impact and to ensure comparability among periods presented.2015.", + "Income tax expense (GAAP) reflected: ?", + "a net noncash benefit of $54 million, primarily associated with the revaluation of certain deferred income tax liabilities; and ?", + "a benefit from $75 million of nonrecurring items, primarily due to the realization of losses from changes in the Company\u2019s organizational tax structure and the resolution of certain outstanding tax matters.", + "The as adjusted effective tax rate of 28.4% for 2015 excluded the net noncash benefit of $54 million mentioned above, as it will not have a cash flow impact and to ensure comparability among periods presented.", + "BALANCE SHEET OVERVIEW As Adjusted Balance Sheet The following table presents a reconciliation of the consolidated statement of financial condition presented on a GAAP basis to the consolidated statement of financial condition, excluding the impact of separate account assets and separate account collateral held under securities lending agreements (directly related to lending separate account securities) and separate account liabilities and separate account collateral liabilities under securities lending agreements and consolidated sponsored investment funds, including consolidated VIEs.", + "The Company presents the as adjusted balance sheet as additional information to enable investors to exclude certain assets that have equal and offsetting liabilities or noncontrolling interests that ultimately do not have an impact on stockholders\u2019 equity or cash flows.", + "Management views the as adjusted balance sheet, which contains non-GAAP financial measures, as an economic presentation of the Company\u2019s total assets and liabilities; however, it does not advocate that investors consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.", + "Separate Account Assets and Liabilities and Separate Account Collateral Held under Securities Lending Agreements Separate account assets are maintained by BlackRock Life Limited, a wholly owned subsidiary of the Company that is a registered life insurance company in the United Kingdom, and represent segregated assets held for purposes of funding individual and group pension contracts.", + "The", + "when the likelihood of clawback is considered mathematically improbable.", + "The Company records a deferred carried interest liability to the extent it receives cash or capital allocations related to carried interest prior to meeting the revenue recognition criteria.", + "At December 31, 2017 and 2016, the Company had $219 million and $152 million, respectively, of deferred carried interest recorded in other liabilities/other liabilities of consolidated VIEs on the consolidated statements of financial condition.", + "A portion of the deferred carried interest liability will be paid to certain employees.", + "The ultimate timing of the recognition of performance fee revenue, if any, for these products is unknown.", + "The following table presents changes in the deferred carried interest liability (including the portion related to consolidated VIEs) for 2017 and 2016:", + "|(in millions)|2017|2016|\n|Beginning balance|$152|$143|\n|Net increase (decrease) in unrealized allocations|75|37|\n|Performance fee revenue recognized|-21|-28|\n|Acquisition|13|\u2014|\n|Ending balance|$219|$152|\n", + "For 2017, 2016 and 2015, performance fee revenue (which included recognized carried interest) totaled $594 million, $295 million and $621 million, respectively.", + "Fees earned for technology and risk management revenue are recorded as services are performed and are generally determined using the value of positions on the Aladdin platform or on a fixed-rate basis.", + "For 2017, 2016 and 2016, technology and risk management revenue totaled $677 million, $595 million and $528 million, respectively.", + "Adjustments to revenue arising from initial estimates recorded historically have been immaterial since the majority of BlackRock\u2019s investment advisory and administration revenue is calculated based on AUM and since the Company does not record performance fee revenue until performance thresholds have been exceeded and the likelihood of clawback is mathematically improbable.", + "Accounting Developments Recent Accounting Pronouncements Not Yet Adopted.", + "Revenue from Contracts with Customers.", + "In May 2014, the Financial Accounting Standards Board (\u201cFASB\u201d) issued Accounting Standards Update (\u201cASU\u201d) 2014-09, Revenue from Contracts with Customers (\u201cASU 2014-09\u201d).", + "ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance.", + "The guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements.", + "The key changes in the standard that impact the Company\u2019s revenue recognition relate to the presentation of certain revenue contracts and associated contract costs.", + "The most significant of these changes relates to the presentation of certain distribution costs, which are currently presented net against revenues (contra-revenue) and will be presented as an expense on a gross basis.", + "The Company adopted ASU 2014-09 effective January 1, 2018 on a full retrospective basis, which will require 2016 and 2017 to be restated in future filings.", + "The cumulative effect adjustment to the 2016 opening retained earnings was not material.", + "The Company currently expects the net gross up to revenue to be approximately $1 billion with a corresponding gross up to expense for both 2016 and 2017.", + "Consequently, the Company expects its GAAP operating margin to decline upon adoption due to the gross up of revenue.", + "However, no material impact is expected on the Company\u2019s as adjusted operating margin.", + "For accounting pronouncements that the Company adopted during the year ended December 31, 2017 and for additional recent accounting pronouncements not yet adopted, see Note 2, Significant Accounting Policies, in the consolidated financial statements contained in Part II, Item 8 of this filing.", + "Item 7a.", + "Quantitative and Qualitative Disclosures about Market Risk AUM Market Price Risk.", + "BlackRock\u2019s investment advisory and administration fees are primarily comprised of fees based on a percentage of the value of AUM and, in some cases, performance fees expressed as a percentage of the returns realized on AUM.", + "At December 31, 2017, the majority of the Company\u2019s investment advisory and administration fees were based on average or period end AUM of the applicable investment funds or separate accounts.", + "Movements in equity market prices, interest rates/credit spreads, foreign exchange rates or all three could cause the value of AUM to decline, which would result in lower investment advisory and administration fees.", + "Corporate Investments Portfolio Risks.", + "As a leading investment management firm, BlackRock devotes significant resources across all of its operations to identifying, measuring, monitoring, managing and analyzing market and operating risks, including the management and oversight of its own investment portfolio.", + "The Board of Directors of the Company has adopted guidelines for the review of investments to be made by the Company, requiring, among other things, that investments be reviewed by certain senior officers of the Company, and that certain investments may be referred to the Audit Committee or the Board of Directors, depending on the circumstances, for approval.", + "In the normal course of its business, BlackRock is exposed to equity market price risk, interest rate/credit spread risk and foreign exchange rate risk associated with its corporate investments.", + "BlackRock has investments primarily in sponsored investment products that invest in a variety of asset classes, including real assets, private equity and hedge funds.", + "Investments generally are made for co-investment purposes, to establish a performance track record, to hedge exposure to certain deferred compensation plans or for regulatory purposes.", + "Currently, the Company has a seed capital hedging program in which it enters into swaps to hedge market and interest rate exposure to certain investments.", + "At December 31, 2017, the Company had outstanding total return swaps with an aggregate notional value of approximately $587 million.", + "At December 31, 2017, there were no outstanding interest rate swaps.", + "There are significant costs associated with the Recall Transaction.", + "We currently estimate total operating and capital expenditures associated with the Recall Transaction to be approximately $380.0 million, the majority of which is expected to be incurred by the end of 2018.", + "This amount consists of approximately $80.0 million of Recall Deal Close Costs and approximately $300.0 million of Recall Integration Costs.", + "Of these amounts, approximately $47.1 million was incurred through December 31, 2015 ($24.7 million of Recall Deal Close Costs and $22.4 million of Recall Integration Costs), including approximately $47.0 million of operating expenditures and approximately $0.1 million of capital expenditures.", + "Additionally, upon closing of the Recall Transaction we will incur costs associated with (i) the cash components of the purchase price noted above and (ii) the payoff of outstanding borrowings under Recall\u2019s existing revolving credit facility.", + "We expect the total cost to close the Recall Transaction (including Recall Deal Close Costs, the cash components of the purchase price and the payoff of Recall\u2019s revolving credit facility, but excluding Recall Integration Costs) to be approximately $1,100.0 million.", + "We intend to fund these costs through a combination of cash on hand, borrowings under our Revolving Credit Facility and, as necessary, public or private debt financing.", + "Contractual Obligations The following table summarizes our contractual obligations as of December 31, 2015 and the anticipated effect of these obligations on our liquidity in future years (in thousands):" + ], + "question_id": "simplong-test-297", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Operating income, Other investment income/(losses), Equity in earnings of unconsolidated affiliates and Interest and dividend income for before consolidation ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 2: Properties Information concerning Applied\u2019s properties is set forth below:", + "|(Square feet in thousands)|United States|Other Countries|Total|\n|Owned|4,530|2,417|6,947|\n|Leased|1,037|1,341|2,378|\n|Total|5,567|3,758|9,325|\n", + "Because of the interrelation of Applied\u2019s operations, properties within a country may be shared by the segments operating within that country.", + "The Company\u2019s headquarters offices are in Santa Clara, California.", + "Products in Semiconductor Systems are manufactured in Santa Clara, California; Austin, Texas; Gloucester, Massachusetts; Kalispell, Montana; Rehovot, Israel; and Singapore.", + "Remanufactured equipment products in the Applied Global Services segment are produced primarily in Austin, Texas.", + "Products in the Display and Adjacent Markets segment are manufactured in Alzenau, Germany and Tainan, Taiwan.", + "Other products are manufactured in Treviso, Italy.", + "Applied also owns and leases offices, plants and warehouse locations in many locations throughout the world, including in Europe, Japan, North America (principally the United States), Israel, China, India, Korea, Southeast Asia and Taiwan.", + "These facilities are principally used for manufacturing; research, development and engineering; and marketing, sales and customer support.", + "Applied also owns a total of approximately 269 acres of buildable land in Montana, Texas, California, Israel and Italy that could accommodate additional building space.", + "Applied considers the properties that it owns or leases as adequate to meet its current and future requirements.", + "Applied regularly assesses the size, capability and location of its global infrastructure and periodically makes adjustments based on these assessments.", + "Cash flows for the years ended December 31, 2009, 2008 and 2007 are summarized as follows:", + "| $ in millions| 2009| 2008| 2007|\n|Net cash (used in)/provided by:||||\n|Operating activities|362.7|525.5|915.5|\n|Investing activities|-102.4|-98.4|-48.2|\n|Financing activities|-100.7|-666.4|-740.8|\n|Increase/(decrease) in cash and cash equivalents|159.6|-239.3|126.5|\n|Foreign exchange|17.2|-91.3|10.4|\n|Cash and cash equivalents, beginning of period|585.2|915.8|778.9|\n|Cash and cash equivalents, end of period|762.0|585.2|915.8|\n", + "Operating Activities Net cash provided by operating activities is generated by the receipt of investment management and other fees generated from AUM, offset by operating expenses and changes in operating assets and liabilities.", + "Although some receipts and payments are seasonal, particularly bonus payments, in general our operating cash flows move in the same direction as our operating income.", + "The reduced operating income for the year ended December 31, 2009, when compared to the prior year is a significant factor in the reduced operating cash flows.", + "Cash provided by operating activities in 2009 was $362.7 million, a decrease of $162.8 million or 31% over 2008.", + "Changes in operating assets and liabilities used $118.3 million of cash, while the combined cash generated from other operating items was $481.0 million.", + "The change in operating assets and liabilities was driven by the funding of annual bonuses combined with the lower levels of accrued bonus awards at the end of 2009, together with higher trade receivables at the end of 2009, compared to the end of 2008.", + "The change in operating assets and liabilities also includes a decrease of $45.0 million in the cash held by consolidated investment products.", + "Cash provided by operating activities in 2008 was $525.5 million, a decrease of $390.0 million or 42.6% from 2007.", + "Changes in operating assets and liabilities contributed $273.9 million of the decrease, and lower net income, after adjusting for the gains and losses of consolidated investment products, contributed a further $193.2 million of the decrease in cash flows generated from operating activities.", + "Investing Activities The launch of a number of new products during mid and late 2009 resulted in a net cash outflow into seed and partnership investments of $43.5 million during the year.", + "During year ended December 31, 2009, we recaptured $60.6 million in cash from redemption of prior investments, including seed and partnership investments, and invested $104.1 million in new products.", + "During the fiscal years ended December 31, 2009, 2008 and 2007, our capital expenditures were $39.5 million, $84.1 million and $36.7 million, respectively.", + "Expenditures related principally in each year to technology initiatives, including new platforms from which we maintain our portfolio management systems and fund accounting systems, improvements in computer hardware and software desktop products for employees, new telecommunications products to enhance our internal information flow, and back-up disaster recovery systems.", + "Also, in each year, a portion of these costs related to leasehold improvements made to the various buildings and workspaces used in our offices.", + "These projects have been funded with proceeds from our operating cash flows.", + "Capital expenditures in 2008 also included expenditures related to leasehold improvements in the new headquarters space.", + "During the fiscal years ended December 31, 2009, 2008 and 2007, our capital divestitures were not significant relative to our total fixed assets.", + "Investing activities include the investment purchases and sales of our consolidated investment products.", + "In total, these contributed $8.0 million, $175.6 million and $8.1 million to cash generated in investing activities during the years ended December 31, 2009, 2008, and 2007, respectively.", + "Net cash outflows of $34.2 million in 2009 related to acquisition earn-out payments related to the 2006 acquisition of WL Ross & Co.", + "In 2008, net cash outflows of $130.9 million and $43.4 million related to acquisition earn-out payments for the PowerShares and WL Ross & Co. acquisitions, respectively.", + "Results of Operations for the Year Ended December 31, 2010, compared with the Year Ended December 31, 2009 Condensed Consolidating Statements of Income", + "|$ in millions|Before Consolidation-1|Consolidated Investment Products-2|Adjustments-1(3)|Total|\n|Year ended December 31, 2010|||||\n|Total operating revenues|3,532.7|0.3|-45.3|3,487.7|\n|Total operating expenses|2,887.8|55.3|-45.3|2,897.8|\n|Operating income|644.9|-55.0|\u2014|589.9|\n|Equity in earnings of unconsolidated affiliates|40.8|\u2014|-0.6|40.2|\n|Interest and dividend income|10.4|246.0|-5.1|251.3|\n|Other investment income/(losses)|15.6|107.6|6.4|129.6|\n|Interest expense|-58.6|-123.7|5.1|-177.2|\n|Income before income taxes|653.1|174.9|5.8|833.8|\n|Income tax provision|-197.0|\u2014|\u2014|-197.0|\n|Net income|456.1|174.9|5.8|636.8|\n|(Gains)/losses attributable to noncontrolling interests in consolidated entities, net|-0.2|-170.8|-0.1|-171.1|\n|Net income attributable to common shareholders|455.9|4.1|5.7|465.7|\n", + "Consolidated", + "|$ in millions|Before Consolidation|Consolidated Investment Products-2|Adjustments-3|Total|\n|Year ended December 31, 2009|||||\n|Total operating revenues|2,633.3|1.9|-7.9|2,627.3|\n|Total operating expenses|-2,139.5|-11.4|7.9|-2,143.0|\n|Operating income|493.8|-9.5|\u2014|484.3|\n|Equity in earnings of unconsolidated affiliates|24.5|\u2014|2.5|27.0|\n|Interest and dividend income|9.8|\u2014|\u2014|9.8|\n|Other investment income/(losses)|7.8|-106.9|\u2014|-99.1|\n|Interest expense|-64.5|\u2014|\u2014|-64.5|\n|Income before income taxes|471.4|-116.4|2.5|357.5|\n|Income tax provision|-148.2|\u2014|\u2014|-148.2|\n|Net income|323.2|-116.4|2.5|209.3|\n|(Gains)/losses attributable to noncontrolling interests in consolidated entities, net|-0.7|113.9|\u2014|113.2|\n|Net income attributable to common shareholders|322.5|-2.5|2.5|322.5|\n", + "(1) The Before Consolidation column includes Invesco's equity interests in the investment products accounted for as equity method (private equity and real estate partnership funds) and available-for-sale investments (CLOs).", + "Upon consolidation of the CLOs, the company's and the CLOs' accounting policies are effectively aligned, resulting in the reclassification of the company's gain for the year ended December 31, 2010 of $6.4 million (representing the increase in the market value of the company's holding in the consolidated CLOs) from other comprehensive income into other gains/losses.", + "The company's gain on its investment in the CLOs (before consolidation) eliminates with the company's share of the offsetting loss on the CLOs' debt.", + "The net income arising from consolidation of CLOs is therefore completely attributed to other investors in these CLOs, as the company's share has been eliminated through consolidation.", + "The Before Consolidation column does not include any other adjustments related to non-GAAP financial measure presentation.", + "(2) The company adopted guidance now encompassed in ASC Topic 810 on January 1, 2010 resulting in the consolidation of certain CLOs.", + "In accordance with the standard, prior periods have not been restated to reflect the consolidation of these CLOs.", + "Prior to January 1, 2010, the company was not deemed to be the primary beneficiary of these CLOs.", + "(3) Adjustments include the elimination of intercompany transactions between the company and its consolidated investment products, primarily the elimination of management fees expensed by the funds and recorded as operating revenues (before consolidation) by the company." + ], + "question_id": "simplong-test-298", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the difference in millions in liabilities related to asset retirement obligations between 2003 and 2003?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "impairment of long-lived assets based on the projection of undiscounted cash flows whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable.", + "In the event such cash flows are not expected to be sufficient to recover the recorded value of the assets, the assets are written down to their estimated fair values (see Note 5).", + "ASSET RETIREMENT OBLIGATIONS\u2014Effective January 1, 2003, the Company adopted Statement of Financial Accounting Standards (\u2018\u2018SFAS\u2019\u2019) No.143, \u2018\u2018Accounting for Asset Retirement Obligations.", + "\u2019\u2019 SFAS No.143 requires the Company to record the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred.", + "When a new liability is recorded the Company will capitalize the costs of the liability by increasing the carrying amount of the related long-lived asset.", + "The liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset.", + "Upon settlement of the liability, the Company settles the obligation for its recorded amount or incurs a gain or loss upon settlement.", + "The Company\u2019s retirement obligations covered by SFAS No.143 include primarily active ash landfills, water treatment basins and the removal or dismantlement of certain plant and equipment.", + "As of December 31, 2003 and 2002, the Company had recorded liabilities of approximately $29 million and $15 million, respectively, related to asset retirement obligations.", + "There are no assets that are legally restricted for purposes of settling asset retirement obligations.", + "Upon adoption of SFAS No.143, the Company recorded an additional liability of approximately $13 million, a net asset of approximately $9 million, and a cumulative effect of a change in accounting principle of approximately $2 million, after income taxes.", + "Amounts recorded related to asset retirement obligations during the years ended December 31, 2003 were as follows (in millions):", + "|Balance at December 31, 2002|$15|\n|Additional liability recorded from cumulative effect of accounting change|13|\n|Accretion expense|2|\n|Change in the timing of estimated cash flows|-1|\n|Balance at December 31, 2003|$29|\n", + "Proforma net (loss) income and (loss) earnings per share have not been presented for the years ended December 31, 2002 and 2001 because the proforma application of SFAS No.143 to prior periods would result in proforma net (loss) income and (loss) earnings per share not materially different from the actual amounts reported for those periods in the accompanying consolidated statements of operations.", + "Had SFAS 143 been applied during all periods presented the asset retirement obligation at January 1, 2001, December 31, 2001 and December 31, 2002 would have been approximately $21 million, $23 million and $28 million, respectively.", + "Included in other long-term liabilities is the accrual for the non-legal obligations for removal of assets in service at IPALCO amounting to $361 million and $339 million at December 31, 2003 and 2002, respectively.", + "DEFERRED FINANCING COSTS\u2014Financing costs are deferred and amortized over the related financing period using the effective interest method or the straight-line method when it does not differ materially from the effective interest method.", + "Deferred financing costs are shown net of accumulated amortization of $202 million and $173 million as of December 31, 2003 and 2002, respectively.", + "PROJECT DEVELOPMENT COSTS\u2014The Company capitalizes the costs of developing new construction projects after achieving certain project-related milestones that indicate the project\u2019s completion is probable.", + "These costs represent amounts incurred for professional services, permits, options, capitalized interest, and other costs directly related to construction.", + "These costs are transferred to construction in progress when significant construction activity commences, or expensed at the time the Company determines that development of a particular project is no longer probable (see Note 5).", + "We review and assess operating performance using segment revenues and operating income before interest, taxes and minority interest.", + "These performance measures include the allocation of expenses to the operating segments based on management judgment.", + "Prior to the third quarter of 2003, we had two reportable segments: the Core Products and Foundry Services segments.", + "Primarily as a result of the formation of FASL LLC, we re\u0002evaluated our reportable segments.", + "Beginning in the third quarter of 2003, we changed our reportable segments to: the Computation Products segment, which includes microprocessor products for desktop and mobile PCs, servers and workstations and chipset products, and the Memory Products segment, which includes Flash memory products.", + "We believe that separate reporting of these operating segments, given our new focus on FASL LLC as a separate operating company and its separate market brand\u2014Spansion, provides more useful information to our stockholders.", + "In addition to our reportable segments, we also have the All Other category that is not a reportable segment, but rather it includes other small operating segments that are neither individually nor in the aggregate greater than ten percent of our consolidated revenues or assets.", + "This category also includes certain operating expenses and credits that are not allocated to the operating segments.", + "Prior period segment information has been reclassified to conform to the current period presentation.", + "However, as FASL LLC did not exist prior to June 30, 2003, the results of operations for prior periods did not include the consolidation of FASL LLC\u2019s operations.", + "Accordingly, the segment operating information for the Memory Products segment for the year ended December 28, 2003, is not fully comparable to the reclassified segment information for all prior periods presented.", + "We use a 52- to 53-week fiscal year ending on the last Sunday in December.", + "The years ended December 28, 2003, December 29, 2002, and December 30, 2001, each included 52 weeks.", + "The following is a summary of our net sales for 2003, 2002 and 2001.", + "|| 2003| 2002| 2001|\n|| (Millions)|\n|Computation Products|$1,960|$1,756|$2,466|\n|Memory Products|1,419|741|1,133|\n|All Other|140|200|293|\n|Total|$3,519|$2,697|$3,892|\n", + "Net Sales Comparison for Years Ended December 28, 2003 and December 29, 2002 Total net sales of $3,519 million in 2003 increased 30 percent compared to net sales of $2,697 million in 2002.", + "Computation Products net sales of $1,960 million in 2003 increased 12 percent compared to net sales of $1,756 million in 2002.", + "The increase in net sales was primarily due to a 15 percent increase in microprocessor unit shipments due primarily to increased demand from our OEM customers, partially offset by a decline of four percent in the average selling prices of our microprocessor products.", + "Unit shipment growth was particularly strong in Latin America and China, which accounted for 77 percent of overall unit growth.", + "Memory Products net sales of $1,419 million in 2003 increased 92 percent compared to net sales of $741 million in 2002.", + "The increase in net sales was primarily attributable to the effect of consolidating FASL LLC\u2019s results of operations, which include FASL LLC\u2019s sales to Fujitsu, and increased demand for Flash memory products.", + "Further quantification of the breakdown in the increase in net sales is not practical due to the reorganization of geographical sales territories between AMD and Fujitsu.", + "All Other net sales of $140 million in 2003 decreased 30 percent compared to net sales of $200 million in 2002 and consisted primarily of net sales of our Personal Connectivity Solutions products.", + "The decrease was due", + "We recorded an income tax provision of $3 million in 2003, an income tax provision of $45 million in 2002 and an income tax benefit of $14 million in 2001.", + "The income tax provision in 2003 primarily reflected income tax expense generated in certain foreign tax jurisdictions, offset by a benefit of a U. S. federal tax refund from a carryback claim we filed in 2003.", + "No net tax benefit was recorded in 2003 on pre-tax losses due to continuing operating losses.", + "Our tax provision for 2003 does not reflect an increase in our net deferred tax liability of approximately $46 million.", + "This net deferred tax liability was recognized by the Japanese subsidiary of FASL LLC, FASL JAPAN, as tax expense in periods prior to our consolidation of FASL LLC on June 30, 2003, and therefore has not been recorded as a component of our tax expense for 2003.", + "The 2002 income tax provision was recorded primarily for taxes due on income generated in certain state and foreign tax jurisdictions.", + "No tax benefit was recorded in 2002 on pre-tax losses due to the establishment of a valuation allowance against the remainder of our U. S. deferred tax assets, net of U. S. deferred tax liabilities in the fourth quarter, due to the incurrence of continuing substantial operating losses in the U. S. The effective benefit rate of 15.4 percent for 2001 was less than the statutory rate because of a lower than U. S. statutory 24 percent tax benefit rate on the 2001 restructuring charges, reflecting the allocation of the charges between the U. S. and foreign lower-taxed jurisdictions, and a provision for U. S. taxes on certain previously undistributed earnings of lower-taxed foreign subsidiaries.", + "Other Items International sales as a percent of net sales were 80 percent in 2003, compared to 73 percent in 2002 and 67 percent in 2001.", + "During 2003, approximately 15 percent of our net sales were denominated in currencies other than the U. S. dollar, primarily the Japanese yen, as compared to one percent during 2002.", + "The increase was primarily due to the consolidation of FASL LLC\u2019s results of operations, which include sales by FASL LLC to Fujitsu, which are denominated in yen.", + "Our foreign exchange risk exposure resulting from these sales is partially mitigated as a result of our yen-denominated manufacturing costs.", + "In addition, we are subject to foreign currency risk related to our manufacturing costs in Fab 30, which are denominated in euros.", + "We use foreign currency forward and option contracts to reduce our exposure to the euro, but future exchange rate fluctuations may cause increases or decreases to our Fab 30 manufacturing costs.", + "The impact on our operating results from changes in foreign currency rates individually and in the aggregate has not been material, principally as a result of our foreign currency hedging activities.", + "Comparison of Operating Income (Loss) The following is a summary of operating income (loss) for 2003, 2002 and 2001:", + "||2003|2002|2001|\n||(Millions)|\n|Computation Products|$-23|$-661|$-191|\n|Memory Products|-189|-159|268|\n|All Other|-21|-405|-135|\n|Total|$-233|$-1,225|$-58|\n", + "Computation Products operating loss of $23 million in 2003 improved by $638 million compared to $661 million in 2002.", + "The improvement was primarily due to incremental net sales of $204 million and a decrease in both manufacturing costs of $330 million and marketing, general and administrative expenses of $39 million, which resulted primarily from our cost reduction initiatives and the 2002 Restructuring Plan.", + "In addition, cooperative advertising and marketing expenses decreased by $55 million from 2002.", + "Computation Products operating loss of $661 million in 2002 increased by $470 million compared to $191 million in 2001 primarily due to a decrease in net sales.", + "The decrease was primarily due to a decline in average selling prices of 13 percent and a decline in unit sales of 16 percent for microprocessors as a result of the sustained downturn in the PC industry.", + "The amortized cost and estimated fair value of available-for-sale marketable securities at December 28, 2003, by contractual maturity, are shown below.", + "Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.", + "The Company does not have any available-for-sale marketable securities with maturities greater than five years from December 28, 2003.", + "|| Amortized Cost| Estimated Fair Value|\n|| (thousands)|\n|Due in one year or less|$119,105|$119,191|\n|Due after one year through five years|8,387|8,372|\n|Total|$127,492|$127,563|\n", + "The Company realized net gains from the sale of available-for-sale securities of $3.7 million and $5.3 million in 2003 and 2002, and net losses of $1.6 million in 2001.", + "At December 28, 2003 and December 29, 2002, the Company had approximately $12 million and $13 million of investments classified as held to maturity, consisting of commercial paper and treasury notes used for long-term workers\u2019 compensation and leasehold deposits, that are included in other assets.", + "The fair market value of these investments approximates their cost at December 28, 2003 and December 29, 2002.", + "The compensating balance of $218 million at December 28, 2003 represents the minimum cash balance that AMD Saxony must maintain pursuant to the terms of the Dresden Loan Agreements (see Notes 7 and 12).", + "Included in other current assets is $22 million of restricted cash associated with the advance receipt of interest subsidies from the Federal Republic of Germany and the State of Saxony.", + "Restrictions over the Company\u2019s access to the restricted cash will lapse as the Company incurs qualifying interest expense on the Dresden term loans (see Notes 7 and 12) over the next four quarters.", + "Fair Value of Other Financial Instruments.", + "The Company estimates the fair value of its debt instruments using a discounted cash flow analysis based on estimated interest rates for similar types of currently available instruments with similar remaining maturities.", + "The carrying amounts and estimated fair values of the Company\u2019s debt instruments are as follows:", + "|| 2003| 2002|\n|| Carrying amount| Estimated Fair Value| Carrying amount| Estimated Fair Value|\n|| (Thousands)|\n|Notes payable to banks|$\u2014|$\u2014|$913|$913|\n|Long-term debt and capital leases:|||||\n|Capital leases|245,958|244,641|40,321|37,229|\n|Long-term debt (excluding capital leases)|1,846,982|1,846,982|1,599,734|1,599,734|\n|Total long-term debt and capital leases|2,092,940|2,091,623|1,640,055|1,636,963|\n|Less: current portion|193,266|192,725|71,348|70,192|\n|Total long-term debt and capital leases, less current portion|$1,899,674|$1,898,898|$1,568,707|$1,566,771|\n", + "The fair value of the Company\u2019s accounts receivable and accounts payable approximate book value based on existing payment terms." + ], + "question_id": "simplong-test-299", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Registered investment companies in the range of0 and 20 in 2018?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) During 2017, we completed ten acquisitions, eight of which were included in the Integrated Agency Networks (\u201cIAN\u201d) operating segment, and two of which were included in the Constituency Management Group (\u201cCMG\u201d) operating segment.", + "These acquisitions included a digital marketing agency based in the U. S. , a data science and business intelligence firm based in the U. S. with operations in China, an advertising and consulting company based in Indonesia, a strategic communications agency based in the U. K. , an independent creative agency based in the U. K. , a retail branding and design firm based in the U. S. , a content creation and marketing agency based in the Netherlands, an independent media agency and digital consultancy based in Finland, and an integrated marketing communications agency based in Canada.", + "During 2017, we recorded approximately $62.0 of goodwill and intangible assets related to our acquisitions.", + "During 2016, we completed ten acquisitions, three of which were included in the IAN operating segment, and seven of which were included in the CMG operating segment.", + "The most significant acquisitions included a product and service design consultancy based in the U. S. , an integrated healthcare marketing communications agency based in the U. S. , a content creation and digital agency with offices in the U. S. and the U. K. , a mobile consultancy and application development agency based in the U. K. , a full-service public relations and digital agency based in China, a search engine optimization and digital content marketing agency based in the U. K. , and a mobile focused digital agency based in the U. K. During 2016, we recorded approximately $149.0 of goodwill and intangible assets related to these acquisitions.", + "During 2015, we completed five acquisitions, four of which were included in the IAN operating segment, and one of which was included in the CMG operating segment.", + "The most significant acquisitions included a full-service digital agency in the U. K. , a group of creative marketing agencies based in Russia, and a media planning and buying agency with significant digital capabilities in Canada.", + "During 2015, we recorded approximately $61.0 of goodwill and intangible assets related to these acquisitions.", + "The results of operations of our acquired companies were included in our consolidated results from the closing date of each acquisition.", + "We did not make any payments in stock related to our acquisitions in 2017, 2016 or 2015.", + "Details of cash paid for current and prior years\u2019 acquisitions are listed below.", + "||Years ended December 31,|\n||2017|2016|2015|\n|Cost of investment: current-year acquisitions|$36.8|$65.7|$37.8|\n|Cost of investment: prior-year acquisitions|54.6|40.7|53.1|\n|Less: net cash acquired|-7.1|-13.6|-9.2|\n|Total cost of investment|84.3|92.8|81.7|\n|Operating payments1|47.1|19.1|18.4|\n|Total cash paid for acquisitions2|$131.4|$111.9|$100.1|\n", + "1 Represents cash payments for amounts that have been recognized in operating expenses since the date of acquisition either relating to adjustments to estimates in excess of the initial value of contingent payments recorded or were contingent upon the future employment of the former owners of the acquired companies.", + "Amounts are reflected in the operating section of the Consolidated Statements of Cash Flows.2 Of the total cash paid for acquisitions, $30.6, $52.0 and $28.6 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the investing section of the Consolidated Statements of Cash Flows as acquisitions, net of cash acquired.", + "These amounts relate to initial payments for new transactions.", + "Of the total cash paid for acquisitions, $53.7, $40.8 and $53.1 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the financing section of the Consolidated Statements of Cash Flows as acquisition-related payments.", + "These amounts relate to deferred payments and increases in our ownership interest for prior acquisitions.", + "For companies acquired, we estimate the fair values of the assets and liabilities based on 100% of the business for consolidation.", + "The purchase price in excess of the estimated fair value of the tangible net assets acquired is allocated to identifiable intangible assets and then to goodwill.", + "Due to the characteristics of advertising, specialized marketing and communication services companies, our acquisitions typically do not have significant amounts of tangible assets since the principal assets we acquire are client relationships and talent.", + "As a result, a substantial portion of the purchase price is primarily allocated to customer lists, trade names and goodwill.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Guarantees We have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries.", + "The amount of parent company guarantees on lease obligations was $829.2 and $857.3 as of December 31, 2017 and 2016, respectively, and the amount of parent company guarantees primarily relating to uncommitted lines of credit was $491.0 and $395.6 as of December 31, 2017 and 2016, respectively.", + "In the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee.", + "As of December 31, 2017, there were no material assets pledged as security for such parent company guarantees.", + "Contingent Acquisition Obligations The following table details the estimated future contingent acquisition obligations payable in cash as of December 31, 2017.", + "||2018|2019|2020|2021|2022|Thereafter|Total|\n|Deferred acquisition payments|$41.9|$27.5|$16.1|$24.4|$4.8|$6.3|$121.0|\n|Redeemable noncontrolling interests and call options with affiliates1|37.1|26.4|62.9|10.3|6.6|4.1|147.4|\n|Total contingent acquisition payments|$79.0|$53.9|$79.0|$34.7|$11.4|$10.4|$268.4|\n", + "1 We have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions.", + "The estimated amounts listed would be paid in the event of exercise at the earliest exercise date.", + "We have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of December 31, 2017.", + "These estimated payments of $24.8 are included within the total payments expected to be made in 2018, and will continue to be carried forward into 2019 or beyond until exercised or expired.", + "Redeemable noncontrolling interests are included in the table at current exercise price payable in cash, not at applicable redemption value, in accordance with the authoritative guidance for classification and measurement of redeemable securities.", + "The majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements.", + "See Note 4 for further information relating to the payment structure of our acquisitions.", + "Legal Matters In the normal course of business, we are involved in various legal proceedings, and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities.", + "The types of allegations that arise in connection with such legal proceedings vary in nature, but can include claims related to contract, employment, tax and intellectual property matters.", + "We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated.", + "In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages.", + "While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.", + "As previously disclosed, on April 10, 2015, a federal judge in Brazil authorized the search of the records of an agency\u2019s offices in S?o Paulo and Brasilia, in connection with an ongoing investigation by Brazilian authorities involving payments potentially connected to local government contracts.", + "The Company had previously investigated the matter and taken a number of remedial and disciplinary actions.", + "The Company is in the process of concluding a settlement related to these matters with government agencies.", + "The Company confirmed that one of its standalone domestic agencies has been contacted by the Department of Justice Antitrust Division for documents regarding video production practices and is cooperating with the government.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Assumption", + "||Domestic Pension Plan|Foreign Pension Plans|Domestic Postretirement Benefit Plan|\n|Years ended December 31,|2018|2017|2016|2018|2017|2016|2018|2017|2016|\n|Net periodic cost||||||||||\n|Discount rate|3.70%|4.20%|4.80%|2.36%|2.52%|3.61%|3.65%|4.05%|4.65%|\n|Rate of compensation increase|N/A|N/A|N/A|2.37%|2.36%|3.18%|N/A|N/A|N/A|\n|Expected return on plan assets|7.00%|7.00%|7.00%|4.70%|4.66%|5.38%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.31%|1.29%|1.35%|N/A|N/A|N/A|\n|Benefit obligation||||||||||\n|Discount rate|4.35%|3.70%|4.20%|2.61%|2.36%|2.52%|4.30%|3.65%|4.05%|\n|Rate of compensation increase|N/A|N/A|N/A|2.58%|2.37%|2.36%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.44%|1.31%|1.29%|N/A|N/A|N/A|\n|Health care cost trend rate assumed for next year||||||||\n|Initial rate (weighted-average)|||||||6.25%|6.50%|6.75%|\n|Year ultimate rate is reached|||||||2024|2024|2024|\n|Ultimate rate|||||||5.00%|5.00%|5.00%|\n", + "Discount Rates \u2013 At December 31, 2018, 2017 and 2016, we determined our discount rates for our domestic pension plan, foreign pension plans and domestic postretirement benefit plan based on either a bond selection/settlement approach or bond yield curve approach.", + "Using the bond selection/settlement approach, we determine the discount rate by selecting a portfolio of corporate bonds appropriate to provide for the projected benefit payments.", + "Using the bond yield curve approach, we determine the discount rate by matching the plans\u2019 cash flows to spot rates developed from a yield curve.", + "Both approaches utilize high-quality AA-rated corporate bonds and the plans\u2019 projected cash flows to develop a discounted value of the benefit payments, which is then used to develop a single discount rate.", + "In countries where markets for high-quality long-term AA corporate bonds are not well developed, a portfolio of long-term government bonds is used as a basis to develop hypothetical corporate bond yields, which serve as a basis to derive the discount rate.", + "Expected Return on Assets \u2013 Our expected rate of return is determined at the beginning of each year and considers asset class index returns over various market and economic conditions, current and expected market conditions, risk premiums associated with asset classes and long-term inflation rates.", + "We determine both a short-term and long-term view and then select a long-term rate of return assumption that matches the duration of our liabilities.", + "Fair Value of Pension Plan Assets The following table presents the fair value of our domestic and foreign pension plan assets as of December 31, 2018 and 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.", + "See Note 12 for a description of the fair value hierarch", + "||December 31, 2018|December 31, 2017|\n|Plan assets subject to fair value hierarchy|Level 1|Level 2|Level 3|Total|Level 1|Level 2|Level 3|Total|\n|Registered investment companies|$13.0|$0.0|$0.0|$13.0|$14.7|$0.0|$0.0|$14.7|\n|Limited partnerships|0.0|0.0|25.6|25.6|0.0|0.0|29.5|29.5|\n|Fixed income securities|23.1|0.0|0.0|23.1|23.4|0.0|0.0|23.4|\n|Insurance contracts|0.0|5.8|0.0|5.8|0.0|7.9|0.0|7.9|\n|Other|20.0|0.0|0.0|20.0|27.7|0.0|0.0|27.7|\n|Total plan assets, subject to leveling|$56.1|$5.8|$25.6|$87.5|$65.8|$7.9|$29.5|$103.2|\n|Plan assets measured at net asset value|||||||||\n|Other investments measured at net asset value1||||366.2||||399.8|\n|Total plan assets||||$453.7||||$503.0|\n", + "1 Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy but are included to reconcile to the amounts presented in the fair value of plan assets table above" + ], + "question_id": "simplong-test-300", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the mathematical range for average train speed ( mph ) for 2008-2010?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents AAG\u2019s Results of Operations In 2014, we realized operating income of $4.2 billion and net income of $2.9 million.", + "Our 2014 net income included net special operating charges of $824 million and total net special charges of $1.3 billion.", + "Excluding the effects of these special charges, we realized operating income of $5.1 billion and net income of $4.2 billion.", + "We completed the Merger on December 9, 2013.", + "Under GAAP, AAG\u2019s results do not include the financial results of US Airways Group prior to the closing of the Merger.", + "Accordingly, our 2014 period GAAP results are not comparable to the GAAP results for the 2013 or 2012 periods as those periods exclude the results of US Airways Group except for the 23 day post-Merger period from December 9, 2013 to December 31, 2013.", + "When compared to the combined separate company results of AAG and US Airways Group for 2013, our 2014 net income excluding net special charges improved by $2.2 billion.", + "In 2013, on a standalone basis,AAG reported a net loss of $1.6 billion and US Airways Group reported net income of $392 million.", + "Excluding the effects of net special charges, AAG and US Airways Group reported 2013 net income of $1.2 billion and $786 million, respectively.", + "When compared to the combined separate company results ofAAG and US Airways Group for 2012, our 2013 combined net income excluding net special charges improved by $1.5 billion.", + "In 2012, on a standalone basis, AAG reported a net loss of $1.9 billion and US Airways Group reported net income of $637 million.", + "Excluding the effects of net special charges, AAG reported a 2012 net loss of $130 million and US Airways Group reported net income of $537 million.", + "The components of net special items in our accompanying consolidated statements of operations are as follows (in millions):", + "||Year Ended December 31,|\n| 2014|2013|2012|\n|Other revenue special item, net -1|$\u2014|$-31|$\u2014|\n|Mainline operating special items, net -2|800|559|386|\n|Regional operating special items, net|24|8|1|\n|Nonoperating special items, net -3|132|211|-280|\n|Reorganization items, net -4|\u2014|2,655|2,208|\n|Income tax special items, net -5|346|-324|-569|\n|Total|$1,302|$3,078|$1,746|\n", + "(1) In 2013, other revenue special item, net included a credit to other revenues related to a change in accounting method resulting from the modification of AAG\u2019s AAdvantage miles agreement with Citibank.", + "(2) In 2014, mainline operating special items, net included $810 million of Merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, divestiture of London Heathrow Slots, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training.", + "In addition, we recorded a net charge of $81 million for bankruptcy related items principally consisting of fair value adjustments for bankruptcy settlement obligations, $164 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments, as well as $54 million in charges primarily relating to the buyout of certain aircraft leases.", + "These charges were offset in part by a $309 million gain on the sale of Slots at DCA.", + "In 2013, mainline operating special items, net included $443 million of primarily Merger related expenses due to the alignment of labor union contracts, professional fees, severance, share-based compensation and fees for US Airways to exit the Star Alliance and its codeshare agreement with United Airlines.", + "In addition, we recorded a $107 million charge related to American\u2019s pilot long-term disability obligation, a $43 million", + "See table below for a reconciliation of business combination related items:", + "|$ in millions|2017|2016|2015|2014|2013|\n|Business combination related:||||||\n|Employee compensation expense(a)|5.8|7.0|\u2014|\u2014|2.4|\n|Transaction and integration expense(b)|20.6|1.4|2.2|\u2014|5.2|\n|Intangible amortization expense(c)|17.4|13.9|10.6|12.6|15.4|\n|Adjustments to operating income|43.8|22.3|12.8|12.6|23.0|\n|Change in contingent consideration estimates(d)|-7.6|7.4|-27.1|\u2014|\u2014|\n|Foreign exchange gain related to business acquisitions(e)|-12.1|\u2014|\u2014|\u2014|\u2014|\n|Other-than-temporary impairment(f)|\u2014|17.8|\u2014|\u2014|\u2014|\n|Taxation:||||||\n|Taxation on employee compensation expense(a)|-2.1|-2.7|\u2014|\u2014|\u2014|\n|Taxation on transaction and integration(b)|-5.9|-0.5|-0.6|\u2014|-2.1|\n|Taxation on amortization(c)|-1.6|-1.3|-1.5|-1.6|-1.5|\n|Deferred taxation(g)|19.6|19.3|20.1|21.8|21.3|\n|Taxation on change in contingent consideration estimates(d)|2.9|-2.8|10.3|\u2014|\u2014|\n|Taxation on foreign exchange gain related to businessacquisitions(e)|2.3|\u2014|\u2014|\u2014|\u2014|\n|(Income)/loss from discontinued operations, net of taxes(h)|\u2014|\u2014|\u2014|3.4|-64.5|\n|Adjustments to net income attributable to Invesco Ltd.|39.3|59.5|14.0|36.2|-23.8|\n", + "a.", + "Employee compensation expenses oincurred in f $5.8 million 2017 are related to our European ETF acquisition, while $7.0 million ed with the acquisition of Jemstep, a market incurred in 2016 are associat -leading provider of advisor- focused digital solutions.", + "Expenses in 2013 are related to employee severance expenses associated with the cessation of activities from a previous acquisition.", + "b.", + "Transaction and integration expenses reflect the legal, regulatory, advisory, valuation, integration-related employee incentive awards, other professional or consulting fees and general and administrative costs, which includes travel costs related to transactions and the costs of temporary staf involved in executing the transaction, and the post f f -closing costs of integrating the acquired business into the company\u2019s existing operations, including incremental costs associated with achieving synergy savings.", + "c. Intangible amortization expense is associated with intangible assets that are identified from acquisition of a business and are amortized on a straight-line basis over useful lives.", + "See Item 8, Financial Statements and Supplementary Data, Note 5 - \u201cIntangible Assets\u201d for detail.", + "d. During 2015, the company acquired investment management contracts from Deutsche Bank and the purchase price was solely comprised of contingent consideration payable in future periods.", + "Adjustment to the fair value of contingent consideration liability is a an increase o$7.4 millio$27.1 decrease of $7.6 million in 2017, f n in 2016 and a decrease of millioItem 8, Financial Statements and Supplementary Data, Note 2 n in 2015.", + "See - \u201cFair Value of Assets and Liabilities\u201d for detail.", + "e. Other gains and losses for 2017 includes a realized gain of $12.1 million related to revaluation of Euros held in the U. K. in anticipation of payment for the European ETF business acquisition.", + "f. Other-than-temporary impairment includes an impairment charge o$17.8 million hat is related to the f in 2016 t acquisition of Invesco Asset Management (India) Private Limited.", + "g. While finite-lived intangible assets are amortized under U. S. GAAP, there is no amortization charge on goodwill and indefinite-lived intangibles.", + "In certain qualifying situations, these can be amortized for tax purposes, generally over a 15-year period, as is the case in the U. S. These deferred tax liabilities represent tax benefits that are not included in the Consolidated Statements of Income absenan impairment charge or the dispos t al of the related business.", + "The company receives these tax benefits but does not anticipate a sale or ipairment of these assets in the foreseeable future, an", + "Operating/Performance Statistics Railroad performance measures reported to the AAR, as well as other performance measures, are included in the table below:", + "||2010|2009|2008|% Change 2010 v 2009|% Change2009 v 2008|\n|Average train speed (miles per hour)|26.2|27.3|23.5|-4%|16%|\n|Average terminal dwell time (hours)|25.4|24.8|24.9|2%|-|\n|Average rail car inventory (thousands)|274.4|283.1|300.7|-3%|-6%|\n|Gross ton-miles (billions)|932.4|846.5|1,020.4|10%|-17%|\n|Revenue ton-miles (billions)|520.4|479.2|562.6|9%|-15%|\n|Operating ratio|70.6|76.1|77.4|-5.5 pt|-1.3 pt|\n|Employees (average)|42,884|43,531|48,242|-1%|-10%|\n|Customer satisfaction index|89|88|83|1 pt|5 pt|\n", + "Average Train Speed \u2013 Average train speed is calculated by dividing train miles by hours operated on our main lines between terminals.", + "Maintenance activities and weather disruptions, combined with higher volume levels, led to a 4% decrease in average train speed in 2010 compared to a record set in 2009.", + "Overall, we continued operating a fluid and efficient network during the year.", + "Lower volume levels, ongoing network management initiatives, and productivity improvements contributed to a 16% improvement in average train speed in 2009 compared to 2008.", + "Average Terminal Dwell Time \u2013 Average terminal dwell time is the average time that a rail car spends at our terminals.", + "Lower average terminal dwell time improves asset utilization and service.", + "Average terminal dwell time increased 2% in 2010 compared to 2009, driven in part by our network plan to increase the length of numerous trains to improve overall efficiency, which resulted in higher terminal dwell time for some cars.", + "Average terminal dwell time improved slightly in 2009 compared to 2008 due to lower volume levels combined with initiatives to expedite delivering rail cars to our interchange partners and customers.", + "Average Rail Car Inventory \u2013 Average rail car inventory is the daily average number of rail cars on our lines, including rail cars in storage.", + "Lower average rail car inventory reduces congestion in our yards and sidings, which increases train speed, reduces average terminal dwell time, and improves rail car utilization.", + "Average rail car inventory decreased 3% in 2010 compared to 2009, while we handled 13% increases in carloads during the period compared to 2009.", + "We maintained more freight cars off-line and retired a number of old freight cars, which drove the decreases.", + "Average rail car inventory decreased 6% in 2009 compared to 2008 driven by a 16% decrease in volume.", + "In addition, as carloads decreased, we stored more freight cars off-line.", + "Gross and Revenue Ton-Miles \u2013 Gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled.", + "Revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles.", + "Gross and revenue-ton-miles increased 10% and 9% in 2010 compared to 2009 due to a 13% increase in carloads.", + "Commodity mix changes (notably automotive shipments) drove the variance in year-over-year growth between gross ton-miles, revenue ton-miles and carloads.", + "Gross and revenue ton-miles decreased 17% and 15% in 2009 compared to 2008 due to a 16% decrease in carloads.", + "Commodity mix changes (notably automotive shipments, which were 30% lower in 2009 versus 2008) drove the difference in declines between gross ton-miles and revenue ton\u0002miles.", + "Operating Ratio \u2013 Operating ratio is defined as our operating expenses as a percentage of operating revenue.", + "Our operating ratio improved 5.5 points to 70.6% in 2010 and 1.3 points to 76.1% in 2009.", + "Efficiently leveraging volume increases, core pricing gains, and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year.", + "Core pricing gains, lower fuel prices, network management initiatives, and improved productivity drove the improvement in 2009 and more than offset the 16% volume decline.", + "Employees \u2013 Employee levels were down 1% in 2010 compared to 2009 despite a 13% increase in volume levels.", + "We leveraged the additional volumes through network efficiencies and other productivity initiatives.", + "In addition, we successfully managed the growth of our full-time-equivalent train and engine force levels at a rate less than half of our carload growth in 2010.", + "All other operating functions and" + ], + "question_id": "simplong-test-301", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Americas develops with the same growth rate in 2004, what will it reach in 2005? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis Institutional Client Services Our Institutional Client Services segment is comprised of: Fixed Income, Currency and Commodities Client Execution.", + "Includes client execution activities related to making markets in interest rate products, credit products, mortgages, currencies and commodities.", + "\u2030 Interest Rate Products.", + "Government bonds, money market instruments such as commercial paper, treasury bills, repurchase agreements and other highly liquid securities and instruments, as well as interest rate swaps, options and other derivatives.", + "\u2030 Credit Products.", + "Investment-grade corporate securities, high-yield securities, credit derivatives, bank and bridge loans, municipal securities, emerging market and distressed debt, and trade claims.", + "\u2030 Mortgages.", + "Commercial mortgage-related securities, loans and derivatives, residential mortgage-related securities, loans and derivatives (including U. S. government agency-issued collateralized mortgage obligations, other prime, subprime and Alt-A securities and loans), and other asset-backed securities, loans and derivatives.", + "\u2030 Currencies.", + "Most currencies, including growth-market currencies.", + "\u2030 Commodities.", + "Crude oil and petroleum products, natural gas, base, precious and other metals, electricity, coal, agricultural and other commodity products.", + "Equities.", + "Includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock, options and futures exchanges worldwide, as well as OTC transactions.", + "Equities also includes our securities services business, which provides financing, securities lending and other prime brokerage services to institutional clients, including hedge funds, mutual funds, pension funds and foundations, and generates revenues primarily in the form of interest rate spreads or fees.", + "The table below presents the operating results of our Institutional Client Services segment.", + "||Year Ended December|\n|$ in millions|2014|2013|2012|\n|Fixed Income, Currency and Commodities Client Execution|$ 8,461|$ 8,651|$ 9,914|\n|Equities client execution1|2,079|2,594|3,171|\n|Commissions and fees|3,153|3,103|3,053|\n|Securities services|1,504|1,373|1,986|\n|Total Equities|6,736|7,070|8,210|\n|Total net revenues|15,197|15,721|18,124|\n|Operating expenses|10,880|11,792|12,490|\n|Pre-tax earnings|$ 4,317|$ 3,929|$ 5,634|\n", + "Notes to consolidated financial statements JPMorgan Chase & Co. 102 JPMorgan Chase & Co. / 2004 Annual Report The following table reflects information about the Firm\u2019s loans held for sale, principally mortgage-related:", + "|Year ended December 31, (in millions)(a)| 2004|2003|2002|\n|Net gains on sales of loans held for sale|$368|$933|$754|\n|Lower of cost or market adjustments|39|26|-36|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "Impaired loans JPMorgan Chase accounts for and discloses nonaccrual loans as impaired loans and recognizes their interest income as discussed previously for nonac\u0002crual loans.", + "The Firm excludes from impaired loans its small-balance, homoge\u0002neous consumer loans; loans carried at fair value or the lower of cost or fair value; debt securities; and leases.", + "The table below sets forth information about JPMorgan Chase\u2019s impaired loans.", + "The Firm primarily uses the discounted cash flow method for valuing impaired loans:", + "|December 31, (in millions)| 2004|2003|(a)|\n|Impaired loans with an allowance|$1,496|$1,597||\n|Impairedloans without anallowance(b)|284|406||\n|Total impaired loans|$1,780|$2,003||\n|Allowance for impaired loans under SFAS 114(c)|$521|$595||\n|Average balance of impaired loans during the year|1,883|2,969||\n|Interest income recognized on impairedloans during the year|8|4||\n", + "(a) Heritage JPMorgan Chase only.", + "(b) When the discounted cash flows, collateral value or market price equals or exceeds the carrying value of the loan, then the loan does not require an allowance under SFAS 114.", + "(c) The allowance for impaired loans under SFAS 114 is included in JPMorgan Chase\u2019s Allowance for loan losses.", + "Note 12 \u2013 Allowance for credit losses JPMorgan Chase\u2019s Allowance for loan losses covers the wholesale (primarily risk-rated) and consumer (primarily scored) loan portfolios and represents man\u0002agement\u2019s estimate of probable credit losses inherent in the Firm\u2019s loan portfo\u0002lio.", + "Management also computes an Allowance for wholesale lending-related commitments using a methodology similar to that used for the wholesale loans.", + "As a result of the Merger, management modified its methodology for determin\u0002ing the Provision for credit losses for the combined Firm.", + "The effect of conform\u0002ing methodologies in 2004 was a decrease in the consumer allowance of $254 million and a decrease in the wholesale allowance (including both funded loans and lending-related commitments) of $330 million.", + "In addition, the Bank One seller\u2019s interest in credit card securitizations was decertificated; this resulted in an increase to the provision for loan losses of approximately $1.4 billion (pre-tax) in 2004.", + "The Allowance for loan losses consists of two components: asset-specific loss and formula-based loss.", + "Within the formula-based loss is a statistical calcula\u0002tion and an adjustment to the statistical calculation.", + "The asset-specific loss component relates to provisions for losses on loans considered impaired and measured pursuant to SFAS 114.", + "An allowance is established when the discounted cash flows (or collateral value or observable market price) of the loan are lower than the carrying value of that loan.", + "To compute the asset-specific loss component of the allowance larger impaired loans are evaluated individually, and smaller impaired loans are evaluated as a pool using historical loss experience for the respective class of assets.", + "The formula-based loss component covers performing wholesale and consumer loans and is the product of a statistical calculation, as well as adjustments to such calculation.", + "These adjustments take into consideration model imprecision, external factors and economic events that have occurred but are not yet reflected in the factors used to derive the statistical calculation.", + "The statistical calculation is the product of probability of default and loss given default.", + "For risk-rated loans (generally loans originated by the whole\u0002sale lines of business), these factors are differentiated by risk rating and maturity.", + "For scored loans (generally loans originated by the consumer lines of business), loss is primarily determined by applying statistical loss factors and other risk indicators to pools of loans by asset type.", + "Adjustments to the statis\u0002tical calculation for the risk-rated portfolios are determined by creating esti\u0002mated ranges using historical experience of both loss given default and prob\u0002ability of default.", + "Factors related to concentrated and deteriorating industries are also incorporated into the calculation where relevant.", + "Adjustments to the statistical calculation for the scored loan portfolios are accomplished in part by analyzing the historical loss experience for each major product segment.", + "The estimated ranges and the determination of the appropriate point within the range are based upon management\u2019s view of uncertainties that relate to current macroeconomic and political conditions, quality of underwriting stan\u0002dards, and other relevant internal and external factors affecting the credit quality of the portfolio.", + "The Allowance for lending-related commitments represents management\u2019s estimate of probable credit losses inherent in the Firm\u2019s process of extending credit.", + "Management establishes an asset-specific allowance for lending-related commitments that are considered impaired and computes a formula-based allowance for performing wholesale lending-related commitments.", + "These are computed using a methodology similar to that used for the wholesale loan portfolio, modified for expected maturities and probabilities of drawdown.", + "At least quarterly, the allowance for credit losses is reviewed by the Chief Risk Officer and the Deputy Chief Risk Officer of the Firm and is discussed with a risk subgroup of the Operating Committee, relative to the risk profile of the Firm\u2019s credit portfolio and current economic conditions.", + "As of December 31, 2004, JPMorgan Chase deemed the allowance for credit losses to be appro\u0002priate (i. e. , sufficient to absorb losses that are inherent in the portfolio, including those not yet identifiable).", + "Market risk\u2013average trading and credit portfolio VAR", + "|(in millions, except headcount and ratios)|2004|2003|2002|\n| Revenue by business||||\n|Investment banking fees|$3,572|$2,871|$2,707|\n|Fixed income markets|6,314|6,987|5,450|\n|Equities markets|1,491|1,406|1,018|\n|Credit portfolio|1,228|1,420|1,507|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Revenue by region||||\n|Americas|$6,870|$7,250|$6,360|\n|Europe/Middle East/Africa|4,082|4,331|3,215|\n|Asia/Pacific|1,653|1,103|1,107|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Selected balance sheet (average)||||\n|Total assets|$473,121|$436,488|$429,866|\n|Tradingassets \u2013 debt and equity instruments|173,086|156,408|134,191|\n|Tradingassets \u2013 derivatives receivables|58,735|83,361|70,831|\n|Loans(b)|42,618|45,037|55,998|\n|Adjusted assets(c)|393,646|370,776|359,324|\n|Equity|17,290|18,350|19,134|\n| Headcount|17,478|14,691|15,012|\n| Credit data and quality statistics||||\n|Net charge-offs|$47|$680|$1,627|\n|Nonperforming assets:||||\n|Nonperforming loans(d)(e)|954|1,708|3,328|\n|Other nonperforming assets|242|370|408|\n|Allowance for loan losses|1,547|1,055|1,878|\n|Allowance for lending related commitments|305|242|324|\n|Net charge-off rate(b)|0.13%|1.65%|3.15%|\n|Allowance for loan losses to average loans(b)|4.27|2.56|3.64|\n|Allowance for loan losses to nonperforming loans(d)|163|63|57|\n|Nonperforming loans to average loans|2.24|3.79|5.94|\n| Market risk-average trading and credit portfolio VAR||||\n|Trading activities:||||\n|Fixed income(f)|$74|$61|NA|\n|Foreign exchange|17|17|NA|\n|Equities|28|18|NA|\n|Commodities and other|9|8|NA|\n|Diversification|-43|-39|NA|\n| Total trading VAR|85|65|NA|\n|Credit portfolio VAR(g)|14|18|NA|\n|Diversification|-9|-14|NA|\n| Total trading and credit portfolio VAR|$90|$69|NA|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "(b) The year-to-date average loans held for sale are $6.4 billion, $3.8 billion and $4.3 billion for 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios and net charge-off rates.", + "The 2002 net charge-offs and net charge-off rate exclude charge-offs of $212 million taken on lending-related commitments.", + "(c) Adjusted assets equals total average assets minus (1) securities purchased under resale agreements and securities borrowed less securities sold, not yet purchased; (2) assets of variable interest entities (VIEs) consolidated under FIN 46R; (3) cash and securities segre\u0002gated and on deposit for regulatory and other purposes; and (4) goodwill and intangibles.", + "The amount of adjusted assets is presented to assist the reader in comparing the IB\u2019s asset and capital levels to other investment banks in the securities industry.", + "Asset-to-equity lever\u0002age ratios are commonly used as one measure to assess a company\u2019s capital adequacy.", + "The IB believes an adjusted asset amount, which excludes certain assets considered to have a low risk profile, provides a more meaningful measure of balance sheet leverage in the securi\u0002ties industry.", + "See Capital management on pages 50\u201352 of this Annual Report for a discus\u0002sion of the Firm\u2019s overall capital adequacy and capital management.", + "(d) Nonperforming loans include loans held for sale of $2 million, $30 million and $16 million as of December 31, 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios.", + "(e) Nonperforming loans exclude loans held for sale of $351 million, $22 million and $2 million as of December 31, 2004, 2003, and 2002, respectively, that were purchased as part of the IB\u2019s proprietary investing activities.", + "(f) Includes all mark-to-market trading activities, plus available-for-sale securities held for IB investing purposes.", + "(g) Includes VAR on derivative credit valuation adjustments, credit valuation adjustment hedges and mark-to-market loan hedges, which are reported in Trading revenue.", + "This VAR does not include the accrual loan portfolio, which is not marked to market.", + "NA-Data for 2002 is not available on a comparable basis.", + "According to Thomson Financial, in 2004, the Firm improved its ranking in U. S. announced M&A from #8 to #1, and Global announced M&A from #4 to #2, while increasing its market share significantly.", + "The Firm\u2019s U. S. initial public offerings ranking improved from #16 to #4, with the Firm moving to #6 from #4 in the U. S. Equity & Equity-related category.", + "The Firm maintained its #1 ranking in U. S. syndicated loans, with a 32% market share, and its #3 position in Global Debt, Equity and Equity-related.", + "Market shares and rankings(a)", + "|| 2004|2003|2002|\n|December 31,|Market Share|Rankings|Market Share|Rankings|Market Share|Rankings|\n|Global debt, equity and equity-related|7%| # 3|8%|# 3|8%|#3|\n|Global syndicated loans|20| # 1|20|# 1|26|#1|\n|Global long-term debt|7| # 2|8|# 2|8|#2|\n|Global equity and equity-related|6| # 6|8|# 4|4|#8|\n|Global announced M&A|26| # 2|16|# 4|14|#5|\n|U.S. debt, equity and equity-related|8| # 5|9|# 3|10|#2|\n|U.S. syndicated loans|32| # 1|35|# 1|39|#1|\n|U.S. long-term debt|12| # 2|10|# 3|13|#2|\n|U.S. equity and equity-related|8| # 6|11|# 4|6|#6|\n|U.S. announced M&A|33| # 1|13|# 8|14|#7|\n", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. 78 JPMorgan Chase & Co. / 2004 Annual Report there is little to no subjectivity in determining fair value.", + "When observable market prices and parameters do not exist, management judgment is neces\u0002sary to estimate fair value.", + "The valuation process takes into consideration fac\u0002tors such as liquidity and concentration concerns and, for the derivatives port\u0002folio, counterparty credit risk (see the discussion of CVA on page 63 of this Annual Report).", + "For example, there is often limited market data to rely on when estimating the fair value of a large or aged position.", + "Similarly, judgment must be applied in estimating prices for less readily observable external parameters.", + "Finally, other factors such as model assumptions, market disloca\u0002tions and unexpected correlations can affect estimates of fair value.", + "Imprecision in estimating these factors can impact the amount of revenue or loss recorded for a particular position.", + "Trading and available-for-sale portfolios Substantially all of the Firm\u2019s securities held for trading and investment purposes (\u201clong\u201d positions) and securities that the Firm has sold to other parties but does not own (\u201cshort\u201d positions) are valued based on quoted market prices.", + "However, certain securities are less actively traded and, therefore, are not always able to be valued based on quoted market prices.", + "The determination of their fair value requires management judgment, as this determination may require benchmarking to similar instruments or analyzing default and recovery rates.", + "Examples include certain collateralized mortgage and debt obligations and high-yield debt securities.", + "As few derivative contracts are listed on an exchange, the majority of the Firm\u2019s derivative positions are valued using internally developed models that use as their basis readily observable market parameters \u2013 that is, parameters that are actively quoted and can be validated to external sources, including industry-pricing services.", + "Certain derivatives, however, are valued based on models with significant unobservable market parameters \u2013 that is, parameters that may be estimated and are, therefore, subject to management judgment to substantiate the model valuation.", + "These instruments are normally either less actively traded or trade activity is one-way.", + "Examples include long-dated inter\u0002est rate or currency swaps, where swap rates may be unobservable for longer maturities, and certain credit products, where correlation and recovery rates are unobservable.", + "Due to the lack of observable market data, the Firm defers the initial trading profit for these financial instruments.", + "The deferred profit is recognized in Trading revenue on a systematic basis and when observable mar\u0002ket data becomes available.", + "Management judgment includes recording fair value adjustments (i. e. , reductions) to model valuations to account for parame\u0002ter uncertainty when valuing complex or less actively traded derivative transac\u0002tions.", + "The following table summarizes the Firm\u2019s trading and available-for-sale portfolios by valuation methodology at December 31, 2004:" + ], + "question_id": "simplong-test-302", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of elements for December 31 in the range of 2000 and 3000 in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Latin American Investments During 2009, the Company acquired a land parcel located in Rio Clara, Brazil through a newly formed consolidated joint venture in which the Company has a 70% controlling ownership interest for a purchase price of 3.3 million Brazilian Reals (approximately USD $1.5 million).", + "This parcel will be developed into a 48,000 square foot retail shopping center.", + "Additionally, during 2009, the Company acquired a land parcel located in San Luis Potosi, Mexico, through an unconsolidated joint venture in which the Company has a noncontrolling interest, for an aggregate purchase price of approximately $0.8 million.", + "The Company recognized equity in income from its unconsolidated Mexican investments in real estate joint ventures of approximately $7.0 million, $17.1 million, and $5.2 million during 2009, 2008 and 2007, respectively.", + "The Company recognized equity in income from its unconsolidated Chilean investments in real estate joint ventures of approximately $0.4 million, $0.2 and $0.1 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Mexican subsidiaries aggregated approximately $23.4 million, $20.3 million, $8.5 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Brazilian subsidiaries aggregated approximately $1.5 million and $0.4 million during 2009 and 2008, respectively.", + "The Company\u2019s revenues from its consolidated Chilean subsidiaries aggregated less than $100,000 during 2009 and 2008, respectively.", + "Mortgages and Other Financing Receivables During 2009, the Company provided financing to five borrowers for an aggregate amount of approximately $8.3 million.", + "During 2009, the Company received an aggregate of approximately $40.4 million which fully paid down the outstanding balance on four mortgage receivables.", + "As of December 31, 2009, the Company had 37 loans with total commitments of up to $178.9 million, of which approximately $131.3 million has been funded.", + "Availability under the Company\u2019s revolving credit facilities are expected to be sufficient to fund these remaining commitments.", + "(See Note 10 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. ) Asset Impairments On a continuous basis, management assesses whether there are any indicators, including property operating performance and general market conditions, that the value of the Company\u2019s assets (including any related amortizable intangible assets or liabilities) may be impaired.", + "To the extent impairment has occurred, the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset.", + "During 2009, economic conditions had continued to experience volatility resulting in further declines in the real estate and equity markets.", + "Year over year increases in capitalization rates, discount rates and vacancies as well as the deterioration of real estate market fundamentals, negatively impacted net operating income and leasing which further contributed to declines in real estate markets in general.", + "As a result of the volatility and declining market conditions described above, as well as the Company\u2019s strategy in relation to certain of its non-retail assets, the Company recognized non-cash impairment charges during 2009, aggregating approximately $175.1 million, before income tax benefit of approximately $22.5 million and noncontrolling interests of approximately $1.2 million.", + "Details of these non-cash impairment charges are as follows (in millions):", + "|Impairment of property carrying values|$50.0|\n|Real estate under development|2.1|\n|Investments in other real estate investments|49.2|\n|Marketable securities and other investments|30.1|\n|Investments in real estate joint ventures|43.7|\n|Total impairment charges|$175.1|\n", + "(See Notes 2, 6, 8, 9, 10 and 11 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. )", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 13.", + "Stockholders\u2019 Equity \u2014 (continued) Dividend Restrictions and Payments The certificates of designation for the Series A and B Preferred Stock restrict the declaration of preferred dividends if we fail to meet specified capital adequacy, net income or stockholders\u2019 equity levels.", + "As of December 31, 2010, we have no preferred dividend restrictions.", + "On March 30, 2010, June 30, 2010, September 30, 2010 and December 30, 2010, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 11, 2010, June 10, 2010, September 9, 2010 and December 9, 2010, respectively.", + "On March 30, 2009, June 30, 2009, September 30, 2009 and December 30, 2009, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 12, 2009, June 11, 2009, September 10, 2009 and December 14, 2009, respectively.", + "On March 31, 2008, June 30, 2008, September 30, 2008 and December 30, 2008, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 13, 2008, June 12, 2008, September 11, 2008 and December 11, 2008, respectively.", + "Common Stock On December 3, 2010, we paid an annual dividend of $176.2 million, equal to $0.55 per share, to stockholders of record as of November 19, 2010.", + "On December 4, 2009, we paid an annual dividend of $159.5 million, equal to $0.50 per share, to stockholders of record as of November 13, 2009.", + "On December 5, 2008, we paid an annual dividend of $116.7 million, equal to $0.45 per share, to stockholders of record as of November 14, 2008.", + "Reconciliation of Outstanding Shares", + "| | Series A preferred stock| Series B preferred stock|Common stock|\n| |(in millions)|\n|Outstanding shares at January 1, 2008|3.0|10.0|259.1|\n|Shares issued|\u2014|\u2014|1.2|\n|Treasury stock acquired|\u2014|\u2014|-1.0|\n|Outstanding shares at December 31, 2008|3.0|10.0|259.3|\n|Shares issued|\u2014|\u2014|60.0|\n|Treasury stock acquired|\u2014|\u2014|-0.3|\n|Outstanding shares at December 31, 2009|3.0|10.0|319.0|\n|Shares issued|\u2014|\u2014|1.5|\n|Treasury stock acquired|\u2014|\u2014|-0.1|\n|Outstanding shares at December 31, 2010| 3.0| 10.0|320.4|\n", + "On May 11, 2009, we issued 58.2 million shares of common stock at a price of $19.75 per share.", + "Net proceeds from the issuance were $1,109.1 million.", + "The proceeds from this offering will be used for general corporate purposes.", + "During November 2007, our Board of Directors authorized a share repurchase program of up to $500.0 million of our outstanding common stock.", + "On November 30, 2007, we entered into an accelerated common stock repurchase agreement with a third party investment bank for an aggregate purchase price of $250.0 million.", + "On this date, we paid $250.0 million and received the initial delivery of 2.9 million common shares, while retaining the right to receive additional common shares over the program\u2019s execution period.", + "The accelerated common stock repurchase agreement was completed in January 2008, at which time we received 0.9 million additional common shares under this agreement.", + "In the fourth quarter of 2008, we suspended purchases of the remaining $250.0 million available under the November 2007 authorization.", + "Our Board of Directors has authorized various repurchase programs under which we are allowed to purchase shares of our outstanding common stock.", + "Shares repurchased under these programs are accounted for as treasury stock, carried at cost and reflected as a reduction to stockholders\u2019 equity.", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 19.", + "Quarterly Results of Operations (Unaudited) The following is a summary of unaudited quarterly results of operations.", + "| | For the three months ended|\n| | December 31| September 30 -1| June 30 -2| March 31|\n| |(in millions, except per share data) |\n| 2010|||||\n|Total revenues|$2,372.5|$2,288.5|$2,233.6|$2,264.0|\n|Total expenses|2,108.8|2,125.0|2,075.8|2,007.7|\n|Net income|218.1|151.3|144.2|203.6|\n|Net income available to common stockholders|199.3|142.2|134.0|190.8|\n|Basic earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.60|\n|Diluted earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.59|\n| 2009|||||\n|Total revenues|$2,232.4|$2,270.3|$2,157.8|$2,188.6|\n|Total expenses|2,062.9|2,022.0|1,959.9|2,058.5|\n|Net income|154.9|204.2|164.0|122.6|\n|Net income available to common stockholders|141.9|184.7|150.3|112.8|\n|Basic earnings per common share for net income available to common stockholders|0.44|0.58|0.52|0.43|\n|Diluted earnings per common share for net income available to common stockholders|0.44|0.57|0.52|0.43|\n", + "(1) During the third quarter of 2009, we discovered a prior period error related to DPAC amortization of certain contracts in our full service accumulation business.", + "We evaluated the materiality of the error from qualitative and quantitative perspectives and concluded it was not material to any prior periods.", + "The correction of the error in the third quarter of 2009 could be considered material to the results of operations for the three months ended September 30, 2009, but is not material to the results of operations for any annual period presented.", + "Accordingly, we made an adjustment in the third quarter of 2009 that resulted in a decrease in DPAC amortization expense.", + "On an after-tax basis, the adjustment for prior periods resulted in an $18.9 million increase in net income for the three months ended September 30, 2009.", + "(2) During the second quarter of 2010, we determined our residential mortgage loan portfolio, and in particular our home equity loan portfolio, had experienced an increase in severe delinquencies and loss severity from sustained elevated levels of unemployment along with continued depressed collateral values.", + "The deterioration resulted in an increase in delinquencies and default costs.", + "During the second quarter of 2010, we recorded a $41.9 million after-tax residential mortgage loan loss provision for our Bank and Trust Services business.", + "Of this residential mortgage loan loss provision, $21.4 million after-tax could be attributed to 2009.", + "We evaluated the qualitative and quantitative factors for materiality.", + "The adjustment related to prior periods could be considered material to the results of operations for the three months ended June 30, 2010, but was not material to the results of operations for any annual period presented.", + "The provision for loan loss is reported in net realized capital gains (losses) on our consolidated statements of operations and the adjustment for prior periods resulted in a decrease in net income for the three months ended June 30, 2010.20.", + "Condensed Consolidating Financial Information Principal Life has established special purpose entities to issue secured medium-term notes.", + "Under the program, the payment obligations of principal and interest on the notes are secured by funding agreements issued by Principal Life.", + "Principal Life\u2019s payment obligations on the funding agreements are fully and unconditionally guaranteed by PFG.", + "All of the outstanding stock of Principal Life is indirectly owned by PFG and PFG is the only guarantor of the payment obligations of the funding agreements.", + "The following tables set forth condensed consolidating financial information of (i) PFG, (ii) Principal Life, (iii) Principal Financial Services, Inc. (\u2018\u2018PFS\u2019\u2019) and all other direct and indirect subsidiaries of PFG on a combined basis and (iv) the eliminations necessary to arrive at the information for PFG on a consolidated basis as of December 31, 2010 and 2009, and for the years ended December 31, 2010, 2009 and 2008.", + "In presenting the condensed consolidating financial statements, the equity method of accounting has been applied to (i) PFG\u2019s interest in PFS, (ii) Principal Life\u2019s interest in all direct subsidiaries of Principal Life and (iii) PFS\u2019s interest in Principal Life even though all such subsidiaries meet the requirements to be consolidated under U. S. GAAP.", + "Earnings of subsidiaries are, therefore, reflected in the parent\u2019s investment and earnings.", + "All intercompany balances and transactions, including elimination of the parent\u2019s investment in subsidiaries, between PFG, Principal Life and PFS and all other subsidiaries have been eliminated, as shown in the column \u2018\u2018Eliminations and Other.", + "\u2019\u2019 These condensed consolidating financial statements should be read in conjunction with the consolidated financial statements.", + "The financial information", + "exposures.", + "We are not relying on said guarantors and are directly evaluating exposure to these investments.", + "The following table presents our top ten exposures as of December 31, 2010." + ], + "question_id": "simplong-test-303", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "at december 31 , 2002 what was the ratio of the company unsecured debt to the secured debt outstanding", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The indenture governing the Company\u2019s unsecured notes also requires the Company to comply with financial ratios and other covenants regarding the operations of the Company.", + "The Company is currently in compliance with all such covenants and expects to remain in compliance in the foreseeable future.", + "In January 2003, the Company completed an issuance of unsecured debt totaling $175 million bearing interest at 5.25%, due 2010.", + "Sale of Real Estate Assets The Company utilizes sales of real estate assets as an additional source of liquidity.", + "During 2000 and 2001, the Company engaged in a capital-recycling program that resulted in sales of over $1 billion of real estate assets during these two years.", + "In 2002, this program was substantially reduced as capital needs were met through other sources and the slower business climate provided few opportunities to profitably reinvest sales proceeds.", + "The Company continues to pursue opportunities to sell real estate assets when beneficial to the long-term strategy of the Company Uses of Liquidity The Company\u2019s principal uses of liquidity include the following: ?", + "Property investments and recurring leasing/capital costs; ?", + "Dividends and distributions to shareholders and unitholders; ?", + "Long-term debt maturities; and ?", + "The Company\u2019s common stock repurchase program.", + "Property Investments and Other Capital Expenditures One of the Company\u2019s principal uses of its liquidity is for the development, acquisition and recurring leasing/capital expendi\u0002tures of its real estate investments.", + "A summary of the Company\u2019s recurring capital expenditures is as follows (in thousands):", + "||2002|2001|2000|\n|Tenant improvements|$28,011|$18,416|$31,955|\n|Leasing costs|17,975|13,845|17,530|\n|Building improvements|13,373|10,873|6,804|\n|Totals|$59,359|$43,134|$56,289|\n", + "Dividends and Distributions In order to qualify as a REIT for federal income tax purposes, the Company must currently distribute at least 90% of its taxable income to its shareholders and Duke Realty Limited Partnership (\u201cDRLP\u201d) unitholders.", + "The Company paid dividends of $1.81, $1.76 and $1.64 for the years ended December 31, 2002, 2001 and 2000, respectively.", + "The Company expects to continue to distribute taxable earnings to meet the requirements to maintain its REIT status.", + "However, distributions are declared at the discretion of the Company\u2019s Board of Directors and are subject to actual cash available for distribution, the Company\u2019s financial condition, capital requirements and such other factors as the Company\u2019s Board of Directors deems relevant.", + "Debt Maturities Debt outstanding at December 31, 2002, totaled $2.1 billion with a weighted average interest rate of 6.25% maturing at various dates through 2028.", + "The Company had $1.8 billion of unsecured debt and $299.1 million of secured debt outstanding at December 31, 2002.", + "Scheduled principal amortization of such debt totaled $10.9 million for the year ended December 31, 2002.", + "Following is a summary of the scheduled future amortization and maturities of the Company\u2019s indebtedness at December 31, 2002 (in thousands):", + "Basic and diluted weighted-average common shares outstanding are the same due to the net losses for all periods presented.", + "As discussed in Note 14, approximately 63 million common shares were issued in June of 2010 in connection with the conversion of the remaining Series B mandatorily convertible preferred shares, which were originally issued in May 2009.", + "Under applicable accounting literature, such shares should be included in the denominator in arriving at diluted earnings per share as if they were issued at the beginning of the reporting period or as of the date issued, if later.", + "Prior to conversion, these shares were not included in the computation above as such amounts would have had an antidilutive effect on earnings (loss) per common share.", + "NOTE 16.", + "SHARE-BASED PAYMENTS Regions has long-term incentive compensation plans that permit the granting of incentive awards in the form of stock options, restricted stock, restricted stock awards and units, and/or stock appreciation rights.", + "While Regions has the ability to issue stock appreciation rights, as of December 31, 2010, 2009 and 2008, there were no outstanding stock appreciation rights.", + "The terms of all awards issued under these plans are determined by the Compensation Committee of the Board of Directors; however, no awards may be granted after the tenth anniversary from the date the plans were initially approved by shareholders.", + "Options and restricted stock usually vest based on employee service, generally within three years from the date of the grant.", + "The contractual lives of options granted under these plans range from seven to ten years from the date of the grant.", + "On May 13, 2010, the shareholders of the Company approved the Regions Financial Corporation 2010 Long-Term Incentive Plan (\u201c2010 LTIP\u201d), which permits the Company to grant to employees and directors various forms of incentive compensation.", + "These forms of incentive compensation are similar to the types of compensation approved in prior plans.", + "The 2010 LTIP authorizes 100 million common share equivalents available for grant, where grants of options count as one share equivalent and grants of full value awards (e. g. , shares of restricted stock and restricted stock units) count as 2.25 share equivalents.", + "Unless otherwise determined by the Compensation Committee of the Board of Directors, grants of restricted stock and restricted stock units accrue dividends as they are declared by the Board of Directors, and the dividends are paid upon vesting of the award.", + "The 2010 LTIP closed all prior long-term incentive plans to new grants, and accordingly, prospective grants must be made under the 2010 LTIP or a successor plan.", + "All existing grants under prior long-term incentive plans were unaffected by this amendment.", + "The number of remaining share equivalents available for future issuance under the active long-term compensation plan was approximately 91 million at December 31, 2010.", + "Grants of performance-based restricted stock typically have a one-year performance period, after which shares vest within three years after the grant date.", + "Restricted stock units, which were granted in 2008, have a vesting period of five years.", + "Generally, the terms of these plans stipulate that the exercise price of options may not be less than the fair market value of Regions\u2019 common stock at the date the options are granted; however, under prior stock option plans, non-qualified options could be granted with a lower exercise price than the fair market value of Regions\u2019 common stock on the date of grant.", + "The contractual life of options granted under these plans ranges from seven to ten years from the date of grant.", + "Regions issues new shares from authorized reserves upon exercise.", + "Grantees of restricted stock awards or units must either remain employed with the Company for certain periods from the date of grant in order for shares to be released or issued or retire after meeting the standards of a retiree, at which time shares would be prorated and released.", + "The following table summarizes the elements of compensation cost recognized in the consolidated statements of operations for the years ended December 31:", + "||2010|2009|2008|\n||(In millions)|\n|Compensation cost of share-based compensation awards:||||\n|Restricted stock awards and units|$10|$33|$50|\n|Stock options|13|14|16|\n|Tax benefits related to compensation cost|-8|-17|-24|\n|Compensation cost of share-based compensation awards, net of tax|$15|$30|$42|\n", + "PROVISION FOR LOAN LOSSES The provision for loan losses is used to maintain the allowance for loan losses at a level that in management\u2019s judgment is appropriate to absorb probable losses inherent in the portfolio at the balance sheet date.", + "During 2018, the provision for loan losses totaled $229 million and net charge-offs were $323 million.", + "This compares to a provision for loan losses of $150 million and net charge-offs of $307 million in 2017.", + "The increase in the provision for loan losses was primarily a result of increased loan balances and slowing credit improvement as compared to 2017.", + "The increase was partially offset by the release of the Company's $40 million hurricane-specific loan loss allowance associated with certain 2017 hurricanes, as well as a $16 million net reduction to the provision for loan losses in the first quarter of 2018 from the sale of $254 million in residential first mortgage loans consisting primarily of performing troubled debt restructured loans.", + "For further discussion and analysis of the total allowance for credit losses, see the \"Allowance for Credit Losses\" and \u201cRisk Management\u201d sections found later in this report.", + "See also Note 6 \u201cAllowance for Credit Losses\u201d to the consolidated financial statements.", + "NON-INTEREST INCOME Table 5\u2014Non-Interest Income from Continuing Operations", + "||Year Ended December 31|Change 2018 vs. 2017|\n||2018|2017|2016|Amount|Percent|\n||(Dollars in millions)|\n|Service charges on deposit accounts|$710|$683|$664|$27|4.0%|\n|Card and ATM fees|438|417|402|21|5.0%|\n|Investment management and trust fee income|235|230|213|5|2.2%|\n|Capital markets income|202|161|152|41|25.5%|\n|Mortgage income|137|149|173|-12|-8.1%|\n|Investment services fee income|71|60|58|11|18.3%|\n|Commercial credit fee income|71|71|73|\u2014|\u2014%|\n|Bank-owned life insurance|65|81|95|-16|-19.8%|\n|Insurance proceeds|\u2014|\u2014|50|\u2014|NM|\n|Securities gains, net|1|19|6|-18|-94.7%|\n|Market value adjustments on employee benefit assets - defined benefit|-6|\u2014|\u2014|-6|NM|\n|Market value adjustments on employee benefit assets - other|-5|16|3|-21|-131.3%|\n|Other miscellaneous income|100|75|122|25|33.3%|\n||$2,019|$1,962|$2,011|$57|2.9%|\n", + "Service Charges on Deposit Accounts Service charges on deposit accounts include non-sufficient fund fees and other service charges.", + "The increase in 2018 compared to 2017 was primarily due to continued customer account growth and increases in non-sufficient fund fee activity.", + "Card and ATM Fees Card and ATM fees include the combined amounts of credit card/bank card income and debit card and ATM related revenue.", + "The increase in 2018 compared to 2017 was primarily the result of an increase in commercial and consumer checkcard interchange income associated with new account growth and increases in spend and transactions.", + "Capital Markets Income Capital markets income primarily relates to capital raising activities that includes securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivatives, merger and acquisition and other advisory services.", + "The increase in 2018 compared to 2017 was driven primarily by increases in income from mergers and acquisitions advisory fees, customer interest rate swap income, and loan syndication fees, partially offset by a decrease in fees from the placement of permanent financing for real estate customers." + ], + "question_id": "simplong-test-304", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all total non-interest income sum up, excluding those negative ones in 2012 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The Company does not believe that any individual unrealized loss in the available-for-sale or unrecognized loss in the held-to-maturity portfolio as of December 31, 2011 represents a credit loss.", + "The credit loss component is the difference between the security\u2019s amortized cost basis and the present value of its expected future cash flows, and is recognized in earnings.", + "The noncredit loss component is the difference between the present value of its expected future cash flows and the fair value and is recognized through other comprehensive income (loss).", + "The Company assessed whether it intends to sell, or whether it is more likely than not that the Company will be required to sell a security before recovery of its amortized cost basis.", + "For debt securities that are considered other-than-temporarily impaired and that the Company does not intend to sell and will not be required to sell prior to recovery of its amortized cost basis, the Company determines the amount of the impairment that is related to credit and the amount due to all other factors.", + "The majority of the unrealized or unrecognized losses on mortgage-backed securities are attributable to changes in interest rates and a re-pricing of risk in the market.", + "The majority of agency mortgage-backed securities and CMOs, other agency debt securities and agency debentures are AAA-rated.", + "Municipal bonds and corporate bonds are evaluated by reviewing the credit-worthiness of the issuer and general market conditions.", + "The Company does not intend to sell the securities in an unrealized loss position and it is not more likely than not that the Company will be required to sell the debt securities before the anticipated recovery of its remaining amortized cost of the securities in an unrealized loss position at December 31, 2011.", + "The majority of the Company\u2019s available-for-sale and held-to-maturity portfolio consists of residential mortgage-backed securities.", + "For residential mortgage-backed securities, the Company calculates the credit portion of OTTI by comparing the present value of the expected future cash flows with the amortized cost basis of the security.", + "The expected future cash flows are determined using the remaining contractual cash flows adjusted for future credit losses.", + "The estimate of expected future credit losses includes the following assumptions: 1) expected default rates based on current delinquency trends, foreclosure statistics of the underlying mortgages and loan documentation type; 2) expected loss severity based on the underlying loan characteristics, including loan-to-value, origination vintage and geography; and 3) expected loan prepayments and principal reduction based on current experience and existing market conditions that may impact the future rate of prepayments.", + "The expected cash flows of the security are then discounted at the interest rate used to recognize interest income on the security to arrive at the present value amount.", + "The following table presents a summary of the significant inputs considered for securities that were other-than-temporarily impaired as of December 31, 2011:", + "|| December 31, 2011|\n||Weighted Average| Range|\n|Default rate-1|6%|2%|- 21%|\n|Loss severity|51%|40%|- 65%|\n|Prepayment rate|6%|2%|- 15%|\n", + "The following table presents a roll-forward of the credit loss component of the amortized cost of debt securities that have noncredit loss recognized in other comprehensive income (loss) and credit loss recognized in earnings for the periods presented (dollars in thousands):", + "|| Year Ended December 31,|\n|| 2011| 2010| 2009-1|\n|Credit loss balance, beginning of period|$188,038|$150,372|$80,060|\n|Additions:||||\n|Initial credit impairment|61|1,642|11,780|\n|Subsequent credit impairment|14,846|36,024|58,532|\n|Credit loss balance, end of period|$202,945|$188,038|$150,372|\n", + "(1) The Company adopted the amended guidance for the recognition and presentation of OTTI for debt securities on April 1, 2009", + "EARNINGS OVERVIEW 2012 Compared to 2011 We incurred a net loss of $112.6 million, or $(0.39) per diluted share, on total net revenue of $1.9 billion for the year ended December 31, 2012.", + "The net loss for the year ended December 31, 2012 was primarily the result of losses of $256.9 million from the early extinguishment of all the 12 1 ?2 % Springing lien notes and 7 7 ?8 % Notes during 2012.", + "Net operating interest income decreased 11% to $1.1 billion for the year ended December 31, 2012 compared to 2011, which was driven primarily by a decrease in enterprise net interest spread during 2012.", + "Commissions, fees and service charges, principal transactions and other revenue decreased 11% to $630.9 million for the year ended December 31, 2012, compared to 2011, which was driven primarily by a decrease in trading activity during 2012.", + "In addition, gains on loans and securities, net increased 67% to $200.4 million for the year ended December 31, 2012 compared to 2011.", + "We recognized additional gains from securities sold as a result of our continued deleveraging efforts, primarily related to a reduction in wholesale funding obligations, which resulted in losses on early extinguishment of debt of $78.3 million during the year ended December 31, 2012.", + "Provision for loan losses declined 20% to $354.6 million for the year ended December 31, 2012 compared to 2011.", + "The decline was driven primarily by improving credit trends and loan portfolio run-off, offset by an increase of $50 million related to charge-offs associated with newly identified bankruptcy filings during the third quarter of 2012.", + "Total operating expenses decreased 6% to $1.2 billion for the year ended December 31, 2012 compared to 2011.", + "This decrease was driven primarily by decreases in clearing and servicing and other operating expenses, partially offset by an increase in compensation and benefits expense for the year ended December 31, 2012.", + "The following sections describe in detail the changes in key operating factors and other changes and events that affected net revenue, provision for loan losses, operating expense, other income (expense) and income tax expense (benefit).", + "Revenue The components of revenue and the resulting variances are as follows (dollars in millions):", + "||Year Ended December 31,|Variance 2012 vs. 2011|\n||2012|2011|Amount|%|\n|Net operating interest income|$1,085.1|$1,220.0|$-134.9|-11%|\n|Commissions|377.8|436.2|-58.4|-13%|\n|Fees and service charges|122.2|130.4|-8.2|-6%|\n|Principal transactions|93.1|105.4|-12.3|-12%|\n|Gains on loans and securities, net|200.4|120.2|80.2|67%|\n|Net impairment|-16.9|-14.9|-2.0|*|\n|Other revenues|37.8|39.3|-1.5|-4%|\n|Total non-interest income|814.4|816.6|-2.2|-0%|\n|Total net revenue|$1,899.5|$2,036.6|$-137.1|-7%|\n", + "* Percentage not meaningful.", + "Net Operating Interest Income Net operating interest income decreased 11% to $1.1 billion for the year ended December 31, 2012 compared to 2011.", + "Net operating interest income is earned primarily through investing customer cash and deposits in enterprise interest-earning assets, which include: real estate loans, margin receivables, available-for- sale securities and held-to-maturity securitie", + "Net Impairment We recognized $16.9 million and $14.9 million of net impairment during the years ended December 31, 2012 and 2011, respectively, on certain securities in our non-agency CMO portfolio due to continued deterioration in the expected credit performance of the underlying loans in those specific securities.", + "The gross other-than-temporary impairment (\u201cOTTI\u201d) and the noncredit portion of OTTI, which was or had been previously recorded through other comprehensive income (loss), are shown in the table below (dollars in millions):", + "||Year Ended December 31, 2012|2011|\n|Other-than-temporary impairment (\u201cOTTI\u201d)|$-19.8|$-9.2|\n|Less: noncredit portion of OTTI recognized into (out of) other comprehensive income (loss) (before tax)|2.9|-5.7|\n|Net impairment|$-16.9|$-14.9|\n", + "Provision for Loan Losses Provision for loan losses decreased 20% to $354.6 million for the year ended December 31, 2012 compared to 2011.", + "The decrease in provision for loan losses was driven primarily by improving credit trends, as evidenced by the lower levels of delinquent loans in the one- to four-family and home equity loan portfolios, and loan portfolio run-off.", + "The decrease was partially offset by $50 million in charge-offs associated with newly identified bankruptcy filings during the third quarter of 2012, with approximately 80% related to prior years.", + "We utilize third party loan servicers to obtain bankruptcy data on our borrowers and during the third quarter of 2012, we identified an increase in bankruptcies reported by one specific servicer.", + "In researching this increase, we discovered that the servicer had not been reporting historical bankruptcy data on a timely basis.", + "As a result, we implemented an enhanced procedure around all servicer reporting to corroborate bankruptcy reporting with independent third party data.", + "Through this additional process, approximately $90 million of loans were identified in which servicers failed to report the bankruptcy filing to us, approximately 90% of which were current at the end of the third quarter of 2012.", + "As a result, these loans were written down to the estimated current value of the underlying property less estimated selling costs, or approximately $40 million, during the third quarter of 2012.", + "These charge-offs resulted in an increase to provision for loan losses of $50 million for the year ended December 31, 2012.", + "The provision for loan losses has declined four consecutive years, down 78% from its peak of $1.6 billion for the year ended December 31, 2008.", + "We expect provision for loan losses to continue to decline over the long term, although it is subject to variability in any given quarter.", + "capital strength.", + "The Tier 1 common ratio is defined as Tier 1 capital less elements of Tier 1 capital that are not in the form of common equity, such as trust preferred securities, divided by total risk-weighted assets.", + "The following table shows the calculation of the Tier 1 common ratio (dollars in millions):", + "||December 31,|\n||2013|2012|2011|\n|Shareholders\u2019 equity|$4,855.9|$4,904.5|$4,928.0|\n|Deduct:||||\n|Losses in other comprehensive income on available-for-sale debt securities and cash flow hedges, net of tax|-459.0|-315.4|-389.6|\n|Goodwill and other intangible assets, net of deferred tax liabilities|1,654.2|1,899.4|1,947.5|\n|Subtotal|3,660.7|3,320.5|3,370.1|\n|Deduct:||||\n|Disallowed servicing assets and deferred tax assets|1,185.4|1,278.9|1,331.0|\n|Tier 1 common|$2,475.3|$2,041.6|$2,039.1|\n|Total risk-weighted assets|$17,991.9|$19,849.9|$21,668.1|\n|Tier 1 common ratio (Tier 1 common / Total risk-weighted assets)|13.8%|10.3%|9.4%|\n", + "In July 2013, the U. S. Federal banking agencies finalized a rule to implement Basel III in the U. S. , a framework for the calculation and components of a banking organization\u2019s regulatory capital and for calculating a banking organization\u2019s risk-weighted assets.", + "Among other things, the Basel III rule raises the minimum thresholds for required capital and revises certain aspects of the definitions and elements of the capital that can be used to satisfy these required minimum thresholds.", + "While the rules became effective on January 1, 2014 for certain large banking organizations, most U. S. banking organizations, including the Company and E*TRADE Bank, have until January 1, 2015 to begin complying with this new framework, with the fully phased-in Basel III capital standards becoming effective in 2019.", + "We expect to be compliant with the Basel III framework, as it is phased-in.", + "We believe the most relevant elements of the final rule to us relate to the risk-weighting of mortgage loans, which will remain unchanged from current rules, and margin receivables, which will qualify for 0% risk\u0002weighting.", + "In addition, the final rule gives the option for a one-time permanent election for the inclusion or exclusion in the calculation of Common Tier 1 capital of unrealized gains (losses) on all available-for-sale debt securities; we currently intend to elect to exclude unrealized gains (losses).", + "We believe the incorporation of these elements will have a favorable impact on our current capital ratios.", + "On October 9, 2012, regulators issued final rules implementing provisions of the Dodd-Frank Act that require banking organizations with total consolidated assets of more than $10 billion but less than $50 billion to conduct annual company-run stress tests, report the results to their primary federal regulator and the Federal Reserve and publish a summary of the results.", + "Under the rules, stress tests must be conducted using certain scenarios (baseline, adverse and severely adverse), which the Federal Reserve will publish by November 15 of each year.", + "Under the OCC and the Federal Reserve stress test regulations, E*TRADE Bank and the Company, respectively, will be required to conduct stress-testing using the prescribed stress-testing methodologies.", + "The final regulations require E*TRADE Bank to conduct its first stress test using financial statement data as of September 30, 2013, and it will be required to report results to the OCC on or before March 31, 2014.", + "The Company will be required to conduct its first stress test using financial statement data as of September 30, 2016, and it will be required to disclose a summary of its stress test results to the Federal Reserve on or before March 31, 2017.", + "We conducted a company-run stress test for E*TRADE Bank and the Company, which we believe is consistent with the OCC\u2019s and Federal Reserve\u2019s methodologies, respectively, and provided the results to the OCC and the Federal Reserve with the submission of the long-term capital plan in February 2013.", + "We believe that E*TRADE Bank is on schedule to provide the data from its first stress test to the OCC on or before March 31, 2014, as required." + ], + "question_id": "simplong-test-305", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Total cards-in-force in Table 1 to the Other in Table 0 in 2016?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Overall, billed business increased in 2017 compared to 2016.", + "U. S. billed business increased 1 percent and non-U.", + "S. billed business increased 12 percent.", + "See Tables 5 and 6 for more details on billed business performance.", + "The average discount rate was 2.43 percent, 2.45 percent and 2.46 percent for 2017, 2016 and 2015, respectively.", + "The decrease in the average discount rate in 2017 compared to 2016 primarily reflected rate pressure from merchant negotiations, including those resulting from the recent regulatory changes affecting competitor pricing in certain international markets, the continued growth of the OptBlue program, and changes in industry and geographic mix.", + "We expect the average discount rate will continue to decline over time due to a greater shift of existing merchants into OptBlue, merchant negotiations and competition, volume related pricing discounts, certain pricing initiatives mainly driven by pricing regulation (including regulation of competitors\u2019 interchange rates) and other factors.", + "Net card fees increased in both periods.", + "The increase in 2017 was primarily driven by growth in the Platinum and Delta portfolios and growth in key international markets.", + "The increase in 2016 was primarily driven by growth in the Platinum, Gold and Delta portfolios.", + "Other fees and commissions increased in 2017 compared to 2016, and decreased in 2016 compared to 2015.", + "The increase in 2017 was primarily driven by an increase in delinquency fees due to a change in the late fee assessment date for certain U. S. charge cards and an increase in foreign exchange conversion revenue.", + "The decrease in 2016 was primarily due to lower Costco-related fees, partially offset by an increase in delinquency and loyalty coalition-related fees.", + "Other revenues decreased in 2017 compared to 2016, and were relatively flat in 2016 compared to 2015.", + "The decrease in 2017 was primarily driven by prior-year revenues related to the Loyalty Edge business, which was sold in the fourth quarter of 2016, and a contractual payment from a GNS partner also in the prior year.2016 included the previously-mentioned contractual payment from a GNS partner and higher revenues from our Prepaid Services business compared to 2015, offset by lower revenues related to Costco, Loyalty Edge and the GBT JV transition services agreement.", + "Interest income increased in 2017 compared to 2016 and decreased in 2016 compared to 2015.", + "The increase in 2017 primarily reflected higher average Card Member loans and higher yields.", + "The growth in average Card Member loans was primarily driven by a mix shift over time towards non-cobrand lending products, where Card Members tend to revolve more of their loan balances.", + "The increase in yields was primarily driven by a greater percentage of loans at higher rate buckets, specific pricing actions, and increases in benchmark interest rates.", + "The decrease in 2016 was primarily driven by lower Costco cobrand loans and the associated interest income, partially offset by modestly higher yields and an increase in average Card Member loans across other lending products.", + "Interest expense increased in both periods.", + "The increase in 2017 was primarily driven by higher interest rates and higher average long-term debt.", + "The increase in 2016 was primarily driven by higher average customer deposit balances, partially offset by lower average long-term debt.", + "TABLE 3: PROVISIONS FOR LOSSES SUMMARY", + "|Years Ended December 31,||||||\n|(Millions, except percentages)|2017|2016|2015|\n|Charge card|$795|$696|$737|$99|14%|$-41|-6%|\n|Card Member loans|1,868|1,235|1,190|633|51|45|4|\n|Other|96|95|61|1|1|34|56|\n|Total provisions for losses(a)|$2,759|$2,026|$1,988|$733|36%|$38|2%|\n", + "(a) Beginning December 1, 2015 through to the sale completion dates, did not reflect the HFS portfolios.", + "EXPENSES Marketing, promotion, rewards, Card Member services and other expenses increased in 2017 compared to 2016, reflecting higher Card Member rewards and Card Member services and other expenses, partially offset by lower marketing and promotion expenses.", + "Card Member rewards expense increased $218 million, primarily driven by enhancements to Platinum rewards and increased spending volumes, partially offset by Costco-related expenses in the prior year.", + "Card Member services and other expense increased $173 million driven by higher usage of travel-related benefits and enhanced Platinum card benefits.", + "Marketing and promotion expenses decreased $112 million due to lower spending on growth initiatives.", + "Salaries and employee benefits and other operating expense increased in 2017 compared to 2016, primarily reflecting the gains on the sales of the HFS portfolios in the prior year, which were recognized as an expense reduction in other expenses, partially offset by lower technology and other servicing-related costs in the current year and restructuring charges in the prior year.", + "Total expenses decreased in 2016 compared to 2015, primarily driven by lower salaries and employee benefits and other operating expenses, largely reflecting the gains on the sales of the HFS portfolios as previously mentioned.", + "Income tax provision decreased in 2017 compared to 2016, primarily reflecting the impact of recurring permanent tax benefits on the lower level of pretax income.", + "|As of or for the Years Ended December 31,||||Change 2017 vs. 2016|Change 2016 vs. 2015|\n|(Millions, except percentages and where indicated)|2017|2016|2015|\n|Card billed business(billions)|$337.0|$345.3|$370.1|-2%|-7%|\n|Charge card billed business as a % of total|36.4%|34.7%|32.4%|||\n|Total cards-in-force|34.9|32.7|40.7|7|-20|\n|Basic cards-in-force|25.0|23.3|28.6|7|-19|\n|Average basic Card Member spending(dollars)|$13,950|$13,447|$13,441|4|\u2015|\n|Total segment assets(billions)|$94.2|$87.4|$92.7|8|-6|\n|Card Member loans:(a)||||||\n|Total loans(billions)|$53.7|$48.8|$43.5|10|12|\n|Average loans(billions)|$48.9|$44.4|$51.1|10%|-13%|\n|Net write-off rate \u2014 principal only(b)|1.8%|1.5%|1.4%|||\n|Net write-off rate \u2014 principal, interest and fees(b)|2.1%|1.8%|1.6%|||\n|30+ days past due loans as a % of total|1.3%|1.1%|1.0%|||\n|Calculation of Net Interest Yield on Average Card Member loans:||||||\n|Net interest income|$5,013|$4,546|$4,710|||\n|Exclude:||||||\n|Interest expense not attributable to our Card Member loan portfolio(c)|120|80|72|||\n|Interest income not attributable to our Card Member loan portfolio(d)|-101|-24|-15|||\n|Adjusted net interest income(e)|$5,032|$4,602|$4,767|||\n|Average Card Member loans including HFS loan portfolios(billions)(f)|$48.9|$49.4|$52.1|||\n|Net interest income divided by average Card Member loans|10.3%|9.2%|9.0%|||\n|Net interest yield on average Card Member loans(e)|10.3%|9.3%|9.2%|||\n|Card Member receivables:(a)||||||\n|Total receivables(billions)|$13.1|$12.3|$11.8|7%|4%|\n|Net write-off rate \u2014 principal only(b)|1.3%|1.4%|1.6%|||\n|Net write-off rate \u2014 principal and fees(b)|1.4%|1.6%|1.8%|||\n|30+ days past due as a % of total|1.1%|1.2%|1.4%|||\n", + "(a) Refer to Table 7 footnote (a).", + "(b) Refer to Table 7 footnote (e).", + "(c) Refer to Table 8 footnote (a).", + "(d) Refer to Table 8 footnote (b).", + "(e) Refer to Table 8 footnote (c).", + "(f) Refer to Table 8 footnote (d).", + "UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) The following table summarizes the activity related to our unrecognized tax benefits (in millions):", + "|Balance at January 1, 2007|$373|\n|Additions for tax positions of the current year|13|\n|Additions for tax positions of prior years|34|\n|Reductions for tax positions of prior years for:||\n|Changes in judgment or facts|-12|\n|Settlements during the period|-49|\n|Lapses of applicable statute of limitations|-4|\n|Balance at December 31, 2007|$355|\n", + "As of December 31, 2007, the total amount of gross unrecognized tax benefits that, if recognized, would affect the effective tax rate was $134 million.", + "We also had gross recognized tax benefits of $567 million recorded as of December 31, 2007 associated with outstanding refund claims for prior tax years.", + "Therefore, we had a net receivable recorded with respect to prior year income tax matters in the accompanying balance sheets.", + "Our continuing practice is to recognize interest and penalties associated with income tax matters as a component of income tax expense.", + "Related to the uncertain tax benefits noted above, we accrued penalties of $5 million and interest of $36 million during 2007.", + "As of December 31, 2007, we have recognized a liability for penalties of $6 million and interest of $75 million.", + "Additionally, we have recognized a receivable for interest of $116 million for the recognized tax benefits associated with outstanding refund claims.", + "We file income tax returns in the U. S. federal jurisdiction, most U. S. state and local jurisdictions, and many non-U.", + "S. jurisdictions.", + "As of December 31, 2007, we had substantially resolved all U. S. federal income tax matters for tax years prior to 1999.", + "In the third quarter of 2007, we entered into a Joint Stipulation to Dismiss the case with the Department of Justice, effectively withdrawing our refund claim related to the 1994 disposition of a subsidiary in France.", + "The write-off of previously recognized tax receivable balances associated with the 1994 French matter resulted in a $37 million increase in income tax expense for the quarter.", + "However, this increase was offset by the impact of favorable developments with various other U. S. federal, U. S. state, and non-U.", + "S. contingency matters.", + "In February 2008, the IRS completed its audit of the tax years 1999 through 2002 with only a limited number of issues that will be considered by the IRS Appeals Office by 2009.", + "The IRS is in the final stages of completing its audit of the tax years 2003 through 2004.", + "We anticipate that the IRS will conclude its audit of the 2003 and 2004 tax years by 2009.", + "With few exceptions, we are no longer subject to U. S. state and local and non-U.", + "S. income tax examinations by tax authorities for tax years prior to 1999, but certain U. S. state and local matters are subject to ongoing litigation.", + "A number of years may elapse before an uncertain tax position is audited and ultimately settled.", + "It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions.", + "It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months.", + "Items that may cause changes to unrecognized tax benefits include the timing of interest deductions, the deductibility of acquisition costs, the consideration of filing requirements in various states, the allocation of income and expense between tax jurisdictions and the effects of terminating an election to have a foreign subsidiary join in filing a consolidated return.", + "These changes could result from the settlement of ongoing litigation, the completion of ongoing examinations, the expiration of the statute of limitations, or other unforeseen circumstances.", + "At this time, an estimate of the range of the reasonably possible change cannot be made." + ], + "question_id": "simplong-test-306", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "in billions for the years december 2013 and december 2012 , what was total commitments to invest in funds managed by the firm?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Sumitomo Mitsui Financial Group, Inc. (SMFG) provides the firm with credit loss protection on certain approved loan commitments (primarily investment-grade commercial lending commitments).", + "The notional amount of such loan commitments was $29.24 billion and $32.41 billion as of December 2013 and December 2012, respectively.", + "The credit loss protection on loan commitments provided by SMFG is generally limited to 95% of the first loss the firm realizes on such commitments, up to a maximum of approximately $950 million.", + "In addition, subject to the satisfaction of certain conditions, upon the firm\u2019s request, SMFG will provide protection for 70% of additional losses on such commitments, up to a maximum of $1.13 billion, of which $870 million and $300 million of protection had been provided as of December 2013 and December 2012, respectively.", + "The firm also uses other financial instruments to mitigate credit risks related to certain commitments not covered by SMFG.", + "These instruments primarily include credit default swaps that reference the same or similar underlying instrument or entity, or credit default swaps that reference a market index.", + "Warehouse Financing.", + "The firm provides financing to clients who warehouse financial assets.", + "These arrangements are secured by the warehoused assets, primarily consisting of corporate loans and commercial mortgage loans.", + "Contingent and Forward Starting Resale and Securities Borrowing Agreements/Forward Starting Repurchase and Secured Lending Agreements The firm enters into resale and securities borrowing agreements and repurchase and secured lending agreements that settle at a future date, generally within three business days.", + "The firm also enters into commitments to provide contingent financing to its clients and counterparties through resale agreements.", + "The firm\u2019s funding of these commitments depends on the satisfaction of all contractual conditions to the resale agreement and these commitments can expire unused.", + "Investment Commitments The firm\u2019s investment commitments consist of commitments to invest in private equity, real estate and other assets directly and through funds that the firm raises and manages.", + "These commitments include $659 million and $872 million as of December 2013 and December 2012, respectively, related to real estate private investments and $6.46 billion and $6.47 billion as of December 2013 and December 2012, respectively, related to corporate and other private investments.", + "Of these amounts, $5.48 billion and $6.21 billion as of December 2013 and December 2012, respectively, relate to commitments to invest in funds managed by the firm.", + "If these commitments are called, they would be funded at market value on the date of investment.", + "Leases The firm has contractual obligations under long-term noncancelable lease agreements, principally for office space, expiring on various dates through 2069.", + "Certain agreements are subject to periodic escalation provisions for increases in real estate taxes and other charges.", + "The table below presents future minimum rental payments, net of minimum sublease rentals.", + "|in millions|As of December 2013|\n|2014|$ 387|\n|2015|340|\n|2016|280|\n|2017|271|\n|2018|222|\n|2019 - thereafter|1,195|\n|Total|$2,695|\n", + "Rent charged to operating expense was $324 million for 2013, $374 million for 2012 and $475 million for 2011.", + "Operating leases include office space held in excess of current requirements.", + "Rent expense relating to space held for growth is included in \u201cOccupancy.", + "\u201d The firm records a liability, based on the fair value of the remaining lease rentals reduced by any potential or existing sublease rentals, for leases where the firm has ceased using the space and management has concluded that the firm will not derive any future economic benefits.", + "Costs to terminate a lease before the end of its term are recognized and measured at fair value on termination.", + "Contingencies Legal Proceedings.", + "See Note 27 for information about legal proceedings, including certain mortgage-related matters.", + "Certain Mortgage-Related Contingencies.", + "There are multiple areas of focus by regulators, governmental agencies and others within the mortgage market that may impact originators, issuers, servicers and investors.", + "There remains significant uncertainty surrounding the nature and extent of any potential exposure for participants in this market.", + "M&T BANK CORPORATION AND SUBSIDIARIES Consolidated Statement of Changes in Stockholders\u2019 Equity", + "| (In thousands, except per share)|||Common Stock Issuable|Additional Paid-in Capital||Accumulated Other Comprehensive Income (Loss), Net|||\n|| Preferred Stock| Common Stock|Retained Earnings|Treasury Stock|Total|\n| 2006|||||||||\n|Balance \u2014 January 1, 2006|$\u2014|60,198|5,363|2,886,153|3,854,275|-97,930|-831,673|5,876,386|\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|839,189|\u2014|\u2014|839,189|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized gains on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|23,265|\u2014|23,265|\n|Minimum pension liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|30,932|\u2014|30,932|\n|||||||||893,386|\n|Change in accounting for defined benefit plans (note 12)|\u2014|\u2014|\u2014|\u2014|\u2014|-9,841|\u2014|-9,841|\n|Purchases of treasury stock|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|-373,860|-373,860|\n|Repayment of management stock ownership program receivable|\u2014|\u2014|\u2014|225|\u2014|\u2014|\u2014|225|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|51,237|\u2014|\u2014|\u2014|51,237|\n|Exercises|\u2014|\u2014|\u2014|-47,742|\u2014|\u2014|140,053|92,311|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|133|\u2014|\u2014|977|1,110|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-303|-557|-206|\u2014|1,024|-42|\n|Common stock cash dividends \u2014 $2.25 per share|\u2014|\u2014|\u2014|\u2014|-249,817|\u2014|\u2014|-249,817|\n|Balance \u2014 December 31, 2006|$\u2014|60,198|5,060|2,889,449|4,443,441|-53,574|-1,063,479|6,281,095|\n| 2007|||||||||\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|654,259|\u2014|\u2014|654,259|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized losses on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|-34,095|\u2014|-34,095|\n|Defined benefit plan liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|-18,222|\u2014|-18,222|\n|Unrealized losses on cash flow hedges|\u2014|\u2014|\u2014|\u2014|\u2014|-8,931|\u2014|-8,931|\n|||||||||593,011|\n|Acquisition of Partners Trust Financial Group, Inc. \u2014 common stock issued|\u2014|\u2014|\u2014|-54,628|\u2014|\u2014|331,643|277,015|\n|Purchases of treasury stock|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|-508,404|-508,404|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|49,824|\u2014|\u2014|1,605|51,429|\n|Exercises|\u2014|\u2014|\u2014|-35,397|\u2014|\u2014|107,116|71,719|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|63|\u2014|\u2014|1,278|1,341|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-284|-559|-215|\u2014|1,008|-50|\n|Common stock cash dividends \u2014 $2.60 per share|\u2014|\u2014|\u2014|\u2014|-281,900|\u2014|\u2014|-281,900|\n|Balance \u2014 December 31, 2007|$\u2014|60,198|4,776|2,848,752|4,815,585|-114,822|-1,129,233|6,485,256|\n| 2008|||||||||\n|Comprehensive income:|||||||||\n|Net income|\u2014|\u2014|\u2014|\u2014|555,887|\u2014|\u2014|555,887|\n|Other comprehensive income, net of tax and reclassification adjustments:|||||||||\n|Unrealized losses on investment securities|\u2014|\u2014|\u2014|\u2014|\u2014|-497,262|\u2014|-497,262|\n|Defined benefit plan liability adjustment|\u2014|\u2014|\u2014|\u2014|\u2014|-127,845|\u2014|-127,845|\n|Unrealized losses on terminated cash flow hedges|\u2014|\u2014|\u2014|\u2014|\u2014|3,048|\u2014|3,048|\n|||||||||-66,172|\n|Issuance of preferred stock and associated warrants|567,463|\u2014|\u2014|32,537|\u2014|\u2014|\u2014|600,000|\n|Repayment of management stock ownership program receivable|\u2014|\u2014|\u2014|72|\u2014|\u2014|\u2014|72|\n|Stock-based compensation plans:|||||||||\n|Stock option and purchase plans:|||||||||\n|Compensation expense|\u2014|\u2014|\u2014|46,025|\u2014|\u2014|3,602|49,627|\n|Exercises|\u2014|\u2014|\u2014|-28,543|\u2014|\u2014|51,548|23,005|\n|Directors\u2019 stock plan|\u2014|\u2014|\u2014|-450|\u2014|\u2014|1,797|1,347|\n|Deferred compensation plans, net, including dividend equivalents|\u2014|\u2014|-159|-486|-217|\u2014|959|97|\n|Common stock cash dividends \u2014 $2.80 per share|\u2014|\u2014|\u2014|\u2014|-308,501|\u2014|\u2014|-308,501|\n|Balance \u2014 December 31, 2008|$567,463|60,198|4,617|2,897,907|5,062,754|-736,881|-1,071,327|6,784,731|\n", + "See accompanying notes to financial statements.", + "M&T BANK CORPORATION AND SUBSIDIARIES Notes to Financial Statements \u2014 (Continued) pricing of such financial instruments is based largely on credit quality and relationship, probability of funding and other requirements.", + "Loan commitments often have fixed expiration dates and contain termination and other clauses which provide for relief from funding in the event of significant deterioration in the credit quality of the customer.", + "The rates and terms of the Company\u2019s loan commitments, credit guarantees and letters of credit are competitive with other financial institutions operating in markets served by the Company.", + "The Company believes that the carrying amounts, which are included in other liabilities, are reasonable estimates of the fair value of these financial instruments.", + "The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company.", + "The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities.", + "Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise.", + "Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made.", + "Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different.21.", + "Commitments and contingencies In the normal course of business, various commitments and contingent liabilities are outstanding.", + "The following table presents the Company\u2019s significant commitments.", + "Certain of these commitments are not included in the Company\u2019s consolidated balance sheet.", + "|| December 31|\n|| 2008| 2007|\n|| (In thousands)|\n|Commitments to extend credit|||\n|Home equity lines of credit|$5,972,541|$5,937,903|\n|Commercial real estate loans to be sold|252,559|96,995|\n|Other commercial real estate and construction|2,238,464|2,869,961|\n|Residential real estate loans to be sold|870,578|492,375|\n|Other residential real estate|211,705|425,579|\n|Commercial and other|6,666,988|7,346,790|\n|Standby letters of credit|3,886,396|3,691,971|\n|Commercial letters of credit|45,503|34,105|\n|Financial guarantees and indemnification contracts|1,546,873|1,318,733|\n|Commitments to sell real estate loans|1,306,041|946,457|\n", + "Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee.", + "Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party.", + "Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and third party.", + "The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies.", + "Collateral may be obtained based on management\u2019s assessment of the customer\u2019s creditworthiness.", + "Financial guarantees and indemnification contracts are oftentimes similar to standby letters of credit and include mandatory purchase agreements issued to ensure that customer obligations are fulfilled, recourse obligations associated with sold loans, and other guarantees of customer performance or compliance with designated rules and regulations.", + "Included in financial guarantees and", + "$28.6 billion in 2007 and $28.3 billion in 2006.", + "The acquisition transactions in late-2007 added $2.0 billion of core deposits on the respective acquisition dates, however, the Company\u2019s average core deposits in 2007 only increased $156 million from those transactions.", + "The previously discussed June 30, 2006 branch acquisition added approximately $880 million to average core deposits during the second half of 2006, or approximately $443 million for the year ended December 31, 2006.", + "Average core deposits of M&T Bank, N. A. were $274 million in 2008, $208 million in 2007 and $387 million in 2006.", + "Funding provided by core deposits represented 55% of average earning assets in each of 2008 and 2007, and 57% in 2006.", + "Core deposits totaled $34.3 billion at December 31, 2008, compared with $30.7 billion at December 31, 2007.", + "Table 8 summarizes average core deposits in 2008 and percentage changes in the components of such deposits over the past two years.", + "Table 8 AVERAGE CORE DEPOSITS" + ], + "question_id": "simplong-test-307", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "if hr solutions generated 25% ( 25 % ) of total revenues , what are the total revenue for aon in 2010 , ( in millions ) ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "HR Solutions", + "|Years ended December 31,|2010|2009|2008|\n|Revenue|$2,111|$1,267|$1,356|\n|Operating income|234|203|208|\n|Operating margin|11.1%|16.0%|15.3%|\n", + "In October 2010, we completed the acquisition of Hewitt, one of the world\u2019s leading human resource consulting and outsourcing companies.", + "Hewitt operates globally together with Aon\u2019s existing consulting and outsourcing operations under the newly created Aon Hewitt brand.", + "Hewitt\u2019s operating results are included in Aon\u2019s results of operations beginning October 1, 2010.", + "Our HR Solutions segment generated approximately 25% of our consolidated total revenues in 2010 and provides a broad range of human capital services, as follows: Consulting Services: ?", + "Health and Benefits advises clients about how to structure, fund, and administer employee benefit programs that attract, retain, and motivate employees.", + "Benefits consulting includes health and welfare, executive benefits, workforce strategies and productivity, absence management, benefits administration, data-driven health, compliance, employee commitment, investment advisory and elective benefits services. ?", + "Retirement specializes in global actuarial services, defined contribution consulting, investment consulting, tax and ERISA consulting, and pension administration. ?", + "Compensation focuses on compensatory advisory/counsel including: compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness, with special expertise in the financial services and technology industries. ?", + "Strategic Human Capital delivers advice to complex global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management.", + "Outsourcing Services: ?", + "Benefits Outsourcing applies our HR expertise primarily through defined benefit (pension), defined contribution (401(k)), and health and welfare administrative services.", + "Our model replaces the resource-intensive processes once required to administer benefit plans with more efficient, effective, and less costly solutions. ?", + "Human Resource Business Processing Outsourcing (\u2018\u2018HR BPO\u2019\u2019) provides market-leading solutions to manage employee data; administer benefits, payroll and other human resources processes; and record and manage talent, workforce and other core HR process transactions as well as other complementary services such as absence management, flexible spending, dependent audit and participant advocacy.", + "Beginning in late 2008, the disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace.", + "Weak economic conditions globally continued throughout 2010.", + "The prolonged economic downturn is adversely impacting our clients\u2019 financial condition and therefore the levels of business activities in the industries and geographies where we operate.", + "While we believe that the majority of our practices are well positioned to manage through this time, these challenges are reducing demand for some of our services and putting", + "has liability.", + "For a further discussion of claims and possible claims against O&R under Superfund, see Note G to the financial statements in Item 8.", + "Manufactured Gas Sites O&R and its predecessors formerly owned and operated manufactured gas plants at seven sites (O&R MGP Sites) in Orange County and Rockland County, New York.", + "Three of these sites are now owned by parties other than O&R, and have been redeveloped by them for residential, commercial or industrial uses.", + "The NYSDEC is requiring O&R to develop and implement remediation programs for the O&R MGP Sites including any neighboring areas to which contamination may have migrated.", + "O&R has completed remedial investigations at all seven of its MGP sites and has received the NYSDEC\u2019s decision regarding the remedial work to be performed at six of the sites.", + "Of the six sites, O&R has completed remediation at four sites.", + "Remedial construction was initiated on a portion of one of the remaining sites in 2018 and remedial design is ongoing for the other remaining sites.", + "The company estimates that its undiscounted potential liability for the completion of the site investigation and cleanup of the known contamination on MGP sites could range from $86 million to $142 million.", + "Superfund Sites O&R is a PRP at Superfund sites involving other PRPs, and participates in PRP groups at those sites.", + "The company is not managing the site investigation and remediation at these multiparty Superfund sites.", + "Work at these sites is in various stages, and investigation, remediation and monitoring activities at some of these sites is expected to continue over extended periods of time.", + "The company believes that it is unlikely that monetary sanctions, such as penalties, will be imposed by any governmental authority with respect to these sites.", + "The following table lists each of the Superfund sites for which the company anticipates it may have liability.", + "The table also shows for each such site its location, the year in which the company was designated or alleged to be a PRP or to otherwise have responsibilities for the site (shown in the table under \u201cStart\u201d), the name of the court or agency in which proceedings for the site are pending and O&R\u2019s estimated percentage of the total liability for each site.", + "The company currently estimates that its potential liability for investigation, remediation, monitoring and environmental damages in aggregate for the sites below is less than $1 million.", + "Superfund liability is joint and several.", + "The company\u2019s estimate of its liability for each site was determined pursuant to consent decrees, settlement agreements or otherwise and in light of the financial condition of other PRPs.", + "The company\u2019s actual liability could differ substantially from amounts estimated.", + "|Site|Location|Start|Court orAgency|% of TotalLiability|\n|Metal Bank of America|Philadelphia, PA|1993|EPA|4.6%|\n|Borne Chemical|Elizabeth, NJ|1997|NJDEP|2.3%|\n|Ellis Road|Jacksonville, FL|2011|EPA|0.2%|\n", + "Other Federal, State and Local Environmental Provisions Toxic Substances Control Act Virtually all electric utilities, including CECONY, own equipment containing PCBs.", + "PCBs are regulated under the Federal Toxic Substances Control Act of 1976.", + "The Utilities have procedures in place to manage and dispose of oil and equipment containing PCBs properly when they are removed from service.", + "Water Quality Under NYSDEC regulations, the operation of CECONY\u2019s generating facilities requires permits for water discharges and water withdrawals.", + "Conditions to the renewal of such permits may include limitations on the operations of the permitted facility or requirements to install certain equipment, the cost of which could be substantial.", + "For information about the company\u2019s generating facilities, see \u201cCECONY \u2013 Electric Operations \u2013 Electric Facilities\u201d and \u201cSteam Operations \u2013 Steam Facilities\u201d above in this Item 1.", + "Certain governmental authorities are investigating contamination in the Hudson River and the New York Harbor.", + "These waters run through portions of CECONY\u2019s service area.", + "Governmental authorities could require entities that released hazardous substances that contaminated these waters to bear the cost of investigation and remediation, which could be substantial.", + "Fuel expenses increased $23 million in 2017 compared with 2016 due to higher unit costs.", + "Other operations and maintenance expenses decreased $119 million in 2017 compared with 2016 due primarily to lower costs for pension and other postretirement benefits ($89 million) and other employee benefits related to a rabbi trust ($22 million).", + "Depreciation and amortization increased $60 million in 2017 compared with 2016 due primarily to higher electric utility plant balances.", + "Taxes, other than income taxes increased $78 million in 2017 compared with 2016 due primarily to higher property taxes ($97 million) and the absence in 2017 of a favorable state audit settlement in 2016 ($5 million), offset in part by deferral of under-collected property taxes due to new property tax rates for fiscal year 2017 \u2013 2018 ($21 million) and lower state and local taxes ($4 million).", + "Gas CECONY\u2019s results of gas operations for the year ended December 31, 2017 compared with the year ended December 31, 2016 is as follows", + "||For the Years Ended December 31,|\n|(Millions of Dollars)|2017|2016|Variation|\n|Operating revenues|$1,901|$1,508|$393|\n|Gas purchased for resale|510|319|191|\n|Other operations and maintenance|413|378|35|\n|Depreciation and amortization|185|159|26|\n|Taxes, other than income taxes|298|265|33|\n|Gas operating income|$495|$387|$108|\n", + "CECONY\u2019s gas sales and deliveries, excluding off-system sales, in 2017 compared with 2016 were", + "||Thousands of Dt Delivered|Revenues in Millions (a)|\n||For the Years Ended||For the Years Ended||\n|Description|December 31, 2017|December 31, 2016|Variation|Percent Variation|December 31, 2017|December 31, 2016|Variation|Percent Variation|\n|Residential|52,244|47,794|4,450|9.3%|$802|$667|$135|20.2%|\n|General|30,761|28,098|2,663|9.5|334|266|68|25.6|\n|Firm transportation|71,353|68,442|2,911|4.3|524|426|98|23.0|\n|Total firm sales and transportation|154,358|144,334|10,024|6.9(b)|1,660|1,359|301|22.1|\n|Interruptible sales (c)|7,553|8,957|-1,404|-15.7|35|34|1|2.9|\n|NYPA|37,033|43,101|-6,068|-14.1|2|2|\u2014|\u2014|\n|Generation plants|61,800|87,835|-26,035|-29.6|25|25|\u2014|\u2014|\n|Other|21,317|21,165|152|0.7|31|32|-1|-3.1|\n|Other operating revenues (d)|\u2014|\u2014|\u2014|\u2014|148|56|92|Large|\n|Total|282,061|305,392|-23,331|-7.6%|$1,901|$1,508|$393|26.1%|\n", + "(a) Revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism, as a result of which, delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "(b) After adjusting for variations, primarily billing days, firm gas sales and transportation volumes in the company\u2019s service area increased 5.9 percent in 2017 compared with 2016, reflecting primarily increased volumes attributable to the growth in the number of gas customers.", + "(c) Includes 3,816 thousands and 4,708 thousands of Dt for 2017 and 2016, respectively, which are also reflected in firm transportation and other.", + "(d) Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company\u2019s rate plans.", + "See Note B to the financial statements in Item 8.", + "Operating revenues increased $393 million in 2017 compared with 2016 due primarily to increased gas purchased for resale expense ($191 million) and higher revenues from the gas rate plan and growth in the number of customers ($182 million).", + "Gas purchased for resale increased $191 million in 2017 compared with 2016 due to higher unit costs ($176 million) and purchased volumes ($15 million)." + ], + "question_id": "simplong-test-308", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the money pool activity use of operating cash flows as a percentage of receivables from the money pool in 2003?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "System Energy Resources, Inc. Management's Financial Discussion and Analysis 269 Operating Activities Cash flow from operations increased by $232.1 million in 2004 primarily due to income tax refunds of $70.6 million in 2004 compared to income tax payments of $230.9 million in 2003.", + "The increase was partially offset by money pool activity, as discussed below.", + "In 2003, the domestic utility companies and System Energy filed, with the IRS, a change in tax accounting method notification for their respective calculations of cost of goods sold.", + "The adjustment implemented a simplified method of allocation of overhead to the production of electricity, which is provided under the IRS capitalization regulations.", + "The cumulative adjustment placing these companies on the new methodology resulted in a $430 million deduction for System Energy on Entergy's 2003 income tax return.", + "There was no cash benefit from the method change in 2003.", + "In 2004 System Energy realized $144 million in cash tax benefit from the method change.", + "This tax accounting method change is an issue across the utility industry and will likely be challenged by the IRS on audit.", + "Cash flow from operations decreased by $124.8 million in 2003 primarily due to the following: ?", + "an increase in federal income taxes paid of $74.0 million in 2003 compared to 2002; ?", + "the cessation of the Entergy Mississippi GGART.", + "System Energy collected $21.7 million in 2003 and $40.8 million in 2002 from Entergy Mississippi in conjunction with the GGART, which provided for the acceleration of Entergy Mississippi's Grand Gulf purchased power obligation.", + "The MPSC authorized cessation of the GGART effective July 1, 2003.", + "See Note 2 to the domestic utility companies and System Energy financial statements for further discussion of the GGART; and ?", + "money pool activity, as discussed below.", + "System Energy's receivables from the money pool were as follows as of December 31 for each of the following years:", + "|2004|2003|2002|2001|\n|(In Thousands)|\n|$61,592|$19,064|$7,046|$13,853|\n", + "Money pool activity used $42.5 million of System Energy's operating cash flows in 2004, used $12.0 million in 2003, and provided $6.8 million in 2002.", + "See Note 4 to the domestic utility companies and System Energy financial statements for a description of the money pool.", + "Investing Activities Net cash used for investing activities was practically unchanged in 2004 compared to 2003 primarily because an increase in construction expenditures caused by a reclassification of inventory items to capital was significantly offset by the maturity of $6.5 million of other temporary investments that had been made in 2003, which provided cash in 2004.", + "The increase of $16.2 million in net cash used in investing activities in 2003 was primarily due to the following: ?", + "the maturity in 2002 of $22.4 million of other temporary investments that had been made in 2001, which provided cash in 2002; ?", + "an increase in decommissioning trust contributions and realized change in trust assets of $8.2 million in 2003 compared to 2002; and ?", + "other temporary investments of $6.5 million made in 2003.", + "Partially offsetting the increases in net cash used in investing activities was a decrease in construction expenditures of $22.1 million in 2003 compared to 2002 primarily due to the power uprate project in 2002.", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 25 proposed in the Initial Decision are arbitrary and are so complex that they would be difficult to implement; the Initial Decision improperly rejected Entergy's resource planning remedy; the Initial Decision erroneously determined that the full costs of the Vidalia project should be included in Entergy Louisiana's production costs for purposes of calculating relative production costs; and the Initial Decision erroneously adopted a new method of calculating reserve sharing costs rather than the current method.", + "If the FERC grants the relief requested by the LPSC in the proceeding, the relief may result in a material increase in the total production costs the FERC allocates to companies whose costs currently are projected to be less than the Entergy System average, and a material decrease in the total production costs the FERC allocates to companies whose costs currently are projected to exceed that average.", + "If the FERC adopts the ALJ's Initial Decision, the amount of production costs that would be reallocated among the domestic utility companies would be determined through consideration of each domestic utility company's relative total production cost expressed as a percentage of Entergy System average total production cost.", + "The ALJ's Initial Decision would reallocate production costs of the domestic utility companies whose percent of Entergy System average production cost are outside an upper or lower bandwidth.", + "This would be accomplished by payments from domestic utility companies whose production costs are below Entergy System average production cost to domestic utility companies whose production costs are above Entergy System average production cost.", + "An assessment of the potential effects of the ALJ's Initial Decision requires assumptions regarding the future total production cost of each domestic utility company, which assumptions include the mix of solid fuel and gas-fired generation available to each company and the costs of natural gas and purchased power.", + "Entergy Louisiana and Entergy Gulf States are more dependent upon gas-fired generation than Entergy Arkansas, Entergy Mississippi, or Entergy New Orleans.", + "Of these, Entergy Arkansas is the least dependent upon gas-fired generation.", + "Therefore, increases in natural gas prices likely will increase the amount by which Entergy Arkansas' total production costs are below the average production costs of the domestic utility companies.", + "Considerable uncertainty exists regarding future gas prices.", + "Annual average Henry Hub gas prices have varied significantly over recent years, ranging from $1.72/mmBtu to $5.85/mmBtu for the 1995-2004 period, and averaging $3.43/mmBtu during the ten-year period 1995-2004 and $4.58/mmBtu during the five-year period 2000-2004.", + "Recent market conditions have resulted in gas prices that have averaged $5.85/mmBtu for the twelve months ended December 2004.", + "Based upon analyses considering the effect on future production costs if the FERC adopts the ALJ's Initial Decision, the following potential annual production cost reallocations among the domestic utility companies could result assuming annual average gas prices range from $6.39/mmBtu in 2005 declining to $4.97/mmBtu by 2009:", + "||Range of Annual Paymentsor (Receipts)|Average AnnualPayments or (Receipts)for 2005-2009 Period|\n||(In Millions)|(In Millions)|\n|Entergy Arkansas|$154 to $281|$215|\n|Entergy Gulf States|-$130 to ($15)|-$63|\n|Entergy Louisiana|-$199 to ($98)|-$141|\n|Entergy Mississippi|-$16 to $8|$1|\n|Entergy New Orleans|-$17 to ($5)|-$12|\n", + "Management believes that any changes in the allocation of production costs resulting from a FERC decision and related retail proceedings should result in similar rate changes for retail customers.", + "The timing of recovery of these costs in rates could be the subject of additional proceedings at the APSC and elsewhere, however, and a delay in full recovery of any increased allocation of production costs could result in additional financing requirements.", + "Although the outcome and timing of the FERC, APSC, and other proceedings cannot be predicted at this time, Entergy does not believe that the ultimate resolution of these proceedings will have a material effect on its financial condition or results of operation.", + "In February 2004, the APSC issued an \"Order of Investigation,\" in which it discusses the negative effect that implementation of the FERC ALJ's Initial Decision would have on Entergy Arkansas' customers.", + "The APSC order establishes an investigation into whether Entergy Arkansas' continued participation in the System Agreement", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 30 whether other procedural steps are necessary.", + "The FERC has not yet ruled on the Emergency Interim Request for Rehearing submitted by Entergy.", + "Entergy believes that it has complied with the provisions of its open access transmission tariff, including the provisions addressing the implementation of the AFC methodology; however, the ultimate scope of this proceeding cannot be predicted at this time.", + "A hearing in the AFC proceeding is currently scheduled to commence in August 2005.", + "Federal Legislation Federal legislation intended to facilitate wholesale competition in the electric power industry has been seriously considered by the United States Congress for the past several years.", + "In the last Congress, both the House and Senate passed separate versions of comprehensive energy legislation, negotiated a conference package, and fell two votes short of bringing the conferenced bill up for a vote in the Senate.", + "The bill contained electricity provisions that would, among other things, allow for participant funding of transmission interconnections and upgrades, repeal PUHCA, repeal or modify PURPA, enact a mechanism for establishing enforceable reliability standards, provide the FERC with new authority over utility mergers and acquisitions, and codify the FERC's authority over market- based rates.", + "It is expected that the United States House and Senate will again craft and consider energy legislation in the 109th Congress.", + "Market and Credit Risks Market risk is the risk of changes in the value of commodity and financial instruments, or in future operating results or cash flows, in response to changing market conditions.", + "Entergy is exposed to the following significant market risks: ?", + "The commodity price risk associated with Entergy's Non-Utility Nuclear and Energy Commodity Services segments. ?", + "The foreign currency exchange rate risk associated with certain of Entergy's contractual obligations. ?", + "The interest rate and equity price risk associated with Entergy's investments in decommissioning trust funds.", + "Entergy is also exposed to credit risk.", + "Credit risk is the risk of loss from nonperformance by suppliers, customers, or financial counterparties to a contract or agreement.", + "Where it is a significant consideration, counterparty credit risk is addressed in the discussions that follow.", + "Commodity Price Risk Power Generation The sale of electricity from the power generation plants owned by Entergy's Non-Utility Nuclear business and Energy Commodity Services, unless otherwise contracted, is subject to the fluctuation of market power prices.", + "Entergy's Non-Utility Nuclear business has entered into PPAs and other contracts to sell the power produced by its power plants at prices established in the PPAs.", + "Entergy continues to pursue opportunities to extend the existing PPAs and to enter into new PPAs with other parties.", + "Following is a summary of the amount of the Non-Utility Nuclear business' output that is currently sold forward under physical or financial contracts at fixed prices:", + "|| 2005| 2006| 2007| 2008| 2009|\n| Non-Utility Nuclear:||||||\n|Percent of planned generation sold forward:||||||\n|Unit-contingent|36%|20%|17%|1%|0%|\n|Unit-contingent with availability guarantees|54%|52%|38%|25%|0%|\n|Firm liquidated damages|4%|4%|2%|0%|0%|\n|Total|94%|76%|57%|26%|0%|\n|Planned generation (TWh)|34|35|34|34|35|\n|Average contracted price per MWh|$39|$41|$42|$44|N/A|\n", + "Entergy Corporation Notes to Consolidated Financial Statements 82 Upon implementation of SFAS 143 in 2003, assets and liabilities increased $1.1 billion for the U. S. Utility segment as a result of recording the asset retirement obligations at their fair values of $1.1 billion as determined under SFAS 143, increasing utility plant by $287 million, reducing accumulated depreciation by $361 million, and recording the related regulatory assets of $422 million.", + "The implementation of SFAS 143 for the portion of River Bend not subject to cost-based ratemaking decreased earnings by $21 million net-of-tax as a result of a one-time cumulative effect of accounting change.", + "In accordance with ratemaking treatment and as required by SFAS 71, the depreciation provisions for the domestic utility companies and System Energy include a component for removal costs that are not asset retirement obligations under SFAS 143.", + "In accordance with regulatory accounting principles, Entergy has recorded a regulatory asset for certain of its domestic utility companies and System Energy of $86.9 million as of December 31, 2004 and $72.4 million as of December 31, 2003 to reflect an estimate of incurred but uncollected removal costs previously recorded as a component of accumulated depreciation.", + "The decommissioning and retirement cost liability for certain of the domestic utility companies and System Energy includes a regulatory liability of $34.6 million as of December 31, 2004 and $26.8 million as of December 31, 2003 representing an estimate of collected but not yet incurred removal costs.", + "For the Non-Utility Nuclear business, the implementation of SFAS 143 resulted in a decrease in liabilities of $595 million due to reductions in decommissioning liabilities, a decrease in assets of $340 million, including a decrease in electric plant in service of $315 million, and an increase in earnings in 2003 of $155 million net-of-tax as a result of a one-time cumulative effect of accounting change.", + "The cumulative decommissioning liabilities and expenses recorded in 2004 by Entergy were as follows:" + ], + "question_id": "simplong-test-309", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of the deferred tax liability in the section where entergy New Orleans is greater than 20? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Corporation and Subsidiaries Notes to Financial Statements 145 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2009 and 2008 are as follows:", + "||2009|2008|\n||(In Millions)|\n|less than 1 year|$31|$21|\n|1 year - 5 years|676|526|\n|5 years - 10 years|388|490|\n|10 years - 15 years|131|146|\n|15 years - 20 years|34|52|\n|20 years+|163|161|\n|Total|$1,423|$1,396|\n", + "During the years ended December 31, 2009, 2008, and 2007, proceeds from the dispositions of securities amounted to $2,571 million, $1,652 million, and $1,583 million, respectively.", + "During the years ended December 31, 2009, 2008, and 2007, gross gains of $80 million, $26 million, and $5 million, respectively, and gross losses of $30 million, $20 million, and $4 million, respectively, were reclassified out of other comprehensive income into earnings.", + "Other-than-temporary impairments and unrealized gains and losses Entergy evaluates unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred.", + "Effective January 1, 2009, Entergy adopted an accounting pronouncement providing guidance regarding recognition and presentation of other-than-temporary impairments related to investments in debt securities.", + "The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs.", + "Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss).", + "For debt securities held as of January 1, 2009 for which an other-than-temporary impairment had previously been recognized but for which assessment under the new guidance indicates this impairment is temporary, Entergy recorded an adjustment to its opening balance of retained earnings of $11.3 million ($6.4 million net-of-tax).", + "Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities in 2009.", + "The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time.", + "Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments.", + "Non-Utility Nuclear recorded charges to other income of $86 million in 2009, $50 million in 2008, and $5 million in 2007, resulting from the recognition of the other-than-temporary impairment of certain equity securities held in its decommissioning trust funds.", + "NOTE 18.", + "ENTERGY NEW ORLEANS BANKRUPTCY PROCEEDING As a result of the effects of Hurricane Katrina and the effect of extensive flooding that resulted from levee breaks in and around the New Orleans area, on September 23, 2005, Entergy New Orleans filed a voluntary petition in bankruptcy court seeking reorganization relief under Chapter 11 of the U. S. Bankruptcy Code.", + "On May 7, 2007, the bankruptcy judge entered an order confirming Entergy New Orleans' plan of reorganization.", + "With the receipt of CDBG funds, and the agreement on insurance recovery with one of its excess insurers, Entergy New Orleans waived the conditions precedent in its plan of reorganization and the plan became effective on May 8, 2007.", + "Following are significant terms in Entergy New Orleans' plan of reorganization:", + "As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns.", + "Because it is more likely than not that the benefit from certain state net operating and capital loss carryovers will not be utilized, a valuation allowance of $66 million and $13 million has been provided on the deferred tax assets relating to these state net operating and capital loss carryovers, respectively.", + "Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2011 and 2010 are as follows:", + "|2011|Entergy Arkansas|Entergy Gulf States Louisiana|Entergy Louisiana|Entergy Mississippi|Entergy New Orleans|Entergy Texas|System Energy|\n||(In Thousands)|\n|Deferred tax liabilities:||||||||\n|Plant basis differences - net|-$1,375,502|-$1,224,422|-$1,085,047|-$608,596|-$169,538|-$892,707|-$505,369|\n|Regulatory asset for income taxes - net|-64,204|-140,644|-121,388|-28,183|70,973|-59,812|-87,550|\n|Power purchase agreements|94|3,938|-1|2,383|22|2,547|-|\n|Nuclear decommissioning trusts|-53,789|-21,096|-22,441|-|-|-|-19,138|\n|Deferred fuel|-82,452|-1,225|-4,285|718|-331|3,932|-8|\n|Other|-107,558|-1,532|-26,373|-10,193|-18,319|-14,097|-9,333|\n|Total|-$1,683,411|-$1,384,981|-$1,259,535|-$643,871|-$117,193|-$960,137|-$621,398|\n|Deferred tax assets:||||||||\n|Accumulated deferred investment||||||||\n|tax credits|16,843|31,367|28,197|2,437|592|6,769|22,133|\n|Pension and OPEB|-75,399|92,602|19,866|-30,390|-11,713|-41,964|-19,593|\n|Nuclear decommissioning liabilities|-104,862|-38,683|56,399|-|-|-|-47,360|\n|Sale and leaseback|-|-|66,801|-|-|-|150,629|\n|Provision for regulatory adjustments|-|97,608|-|-|-|-|-|\n|Provision for contingencies|4,167|90|3,940|2,465|10,121|2,299|-|\n|Unbilled/deferred revenues|15,222|-21,918|-7,108|8,990|2,707|14,324|-|\n|Customer deposits|7,019|618|5,699|1,379|109|-|-|\n|Rate refund|11,627|-|134|-|2|-3,924|-|\n|Net operating loss carryforwards|-|-|39,153|-|-|58,546|-|\n|Other|3,485|27,392|18,824|4,826|5,248|37,734|25,724|\n|Total|-121,898|189,076|231,905|-10,293|7,066|73,784|131,533|\n|Noncurrent accrued taxes (including||||||||\n|unrecognized tax benefits)|-27,718|-206,752|-75,750|-6,271|-27,859|39,799|-165,981|\n|Accumulated deferred income||||||||\n|taxes and taxes accrued|-$1,833,027|-$1,402,657|-$1,103,380|-$660,435|-$137,986|-$846,554|-$655,846|\n", + "Entergy Mississippi, Inc. Management\u2019s Financial Discussion and Analysis 327 2010 Compared to 2009 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 2010 to 2009.", + "||Amount (In Millions)|\n|2009 net revenue|$536.7|\n|Volume/weather|18.9|\n|Other|-0.3|\n|2010 net revenue|$555.3|\n", + "The volume/weather variance is primarily due to an increase of 1,046 GWh, or 8%, in billed electricity usage in all sectors, primarily due to the effect of more favorable weather on the residential sector.", + "Gross operating revenues, fuel and purchased power expenses, and other regulatory charges (credits) Gross operating revenues increased primarily due to an increase of $22 million in power management rider revenue as the result of higher rates, the volume/weather variance discussed above, and an increase in Grand Gulf rider revenue as a result of higher rates and increased usage, offset by a decrease of $23.5 million in fuel cost recovery revenues due to lower fuel rates.", + "Fuel and purchased power expenses decreased primarily due to a decrease in deferred fuel expense as a result of prior over-collections, offset by an increase in the average market price of purchased power coupled with increased net area demand.", + "Other regulatory charges increased primarily due to increased recovery of costs associated with the power management recovery rider.", + "Other Income Statement Variances 2011 Compared to 2010 Other operation and maintenance expenses decreased primarily due to: x a $5.4 million decrease in compensation and benefits costs primarily resulting from an increase in the accrual for incentive-based compensation in 2010 and a decrease in stock option expense; and x the sale of $4.9 million of surplus oil inventory.", + "The decrease was partially offset by an increase of $3.9 million in legal expenses due to the deferral in 2010 of certain litigation expenses in accordance with regulatory treatment.", + "Taxes other than income taxes increased primarily due to an increase in ad valorem taxes due to a higher 2011 assessment as compared to 2010, partially offset by higher capitalized property taxes as compared with prior year.", + "Depreciation and amortization expenses increased primarily due to an increase in plant in service.", + "Interest expense decreased primarily due to a revision caused by FERC\u2019s acceptance of a change in the treatment of funds received from independent power producers for transmission interconnection projects.", + "Entergy New Orleans, Inc. Management\u2019s Financial Discussion and Analysis 350 Also in addition to the contractual obligations, Entergy New Orleans has $53.7 million of unrecognized tax benefits and interest net of unused tax attributes and payments for which the timing of payments beyond 12 months cannot be reasonably estimated due to uncertainties in the timing of effective settlement of tax positions.", + "See Note 3 to the financial statements for additional information regarding unrecognized tax benefits.", + "The planned capital investment estimate for Entergy New Orleans reflects capital required to support existing business.", + "The estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints, environmental compliance, market volatility, economic trends, changes in project plans, and the ability to access capital.", + "Management provides more information on long-term debt and preferred stock maturities in Notes 5 and 6 and to the financial statements.", + "As an indirect, wholly-owned subsidiary of Entergy Corporation, Entergy New Orleans pays dividends from its earnings at a percentage determined monthly.", + "Entergy New Orleans\u2019s long-term debt indentures contain restrictions on the payment of cash dividends or other distributions on its common and preferred stock.", + "Sources of Capital Entergy New Orleans\u2019s sources to meet its capital requirements include: x internally generated funds; x cash on hand; and x debt and preferred stock issuances.", + "Entergy New Orleans may refinance, redeem, or otherwise retire debt and preferred stock prior to maturity, to the extent market conditions and interest and dividend rates are favorable.", + "Entergy New Orleans\u2019s receivables from the money pool were as follows as of December 31 for each of the following years:", + "|2011|2010|2009|2008|\n|(In Thousands)|\n|$9,074|$21,820|$66,149|$60,093|\n", + "See Note 4 to the financial statements for a description of the money pool.", + "Entergy New Orleans has obtained short-term borrowing authorization from the FERC under which it may borrow through October 2013, up to the aggregate amount, at any one time outstanding, of $100 million.", + "See Note 4 to the financial statements for further discussion of Entergy New Orleans\u2019s short-term borrowing limits.", + "The long-term securities issuances of Entergy New Orleans are limited to amounts authorized by the City Council, and the current authorization extends through July 2012.", + "Entergy Louisiana\u2019s Ninemile Point Unit 6 Self-Build Project In June 2011, Entergy Louisiana filed with the LPSC an application seeking certification that the public necessity and convenience would be served by Entergy Louisiana\u2019s construction of a combined-cycle gas turbine generating facility (Ninemile 6) at its existing Ninemile Point electric generating station.", + "Ninemile 6 will be a nominally-sized 550 MW unit that is estimated to cost approximately $721 million to construct, excluding interconnection and transmission upgrades.", + "Entergy Gulf States Louisiana joined in the application, seeking certification of its purchase under a life-of-unit power purchase agreement of up to 35% of the capacity and energy generated by Ninemile 6.", + "The Ninemile 6 capacity and energy is proposed to be allocated 55% to Entergy Louisiana, 25% to Entergy Gulf States Louisiana, and 20% to Entergy New Orleans.", + "In February 2012 the City Council passed a resolution authorizing Entergy New Orleans to purchase 20% of the Ninemile 6 energy and capacity.", + "If approvals are obtained from the LPSC and other permitting agencies, Ninemile 6 construction is", + "Equity Compensation Plan Information The following table summarizes the equity compensation plan information as of December 31, 2011.", + "Information is included for equity compensation plans approved by the stockholders and equity compensation plans not approved by the stockholders." + ], + "question_id": "simplong-test-310", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the percentage of Goodwill in relation to the total on December 31,2016? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ANALOG DEVICES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) The total intrinsic value of options exercised (i. e. the difference between the market price at exercise and the price paid by the employee to exercise the options) during fiscal 2011, 2010 and 2009 was $96.5 million, $29.6 million and $4.7 million, respectively.", + "The total amount of proceeds received by the Company from exercise of these options during fiscal 2011, 2010 and 2009 was $217.4 million, $240.4 million and $15.1 million, respectively.", + "Proceeds from stock option exercises pursuant to employee stock plans in the Company\u2019s statement of cash flows of $217.2 million, $216.1 million and $12.4 million for fiscal 2011, 2010 and 2009, respectively, are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options, and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "The withholding amount is based on the Company\u2019s minimum statutory withholding requirement.", + "A summary of the Company\u2019s restricted stock unit award activity as of October 29, 2011 and changes during the year then ended is presented below:", + "||Restricted Stock Units Outstanding|Weighted- Average Grant- Date Fair Value Per Share|\n|Restricted stock units outstanding at October 30, 2010|1,265|$28.21|\n|Units granted|898|$34.93|\n|Restrictions lapsed|-33|$24.28|\n|Units forfeited|-42|$31.39|\n|Restricted stock units outstanding at October 29, 2011|2,088|$31.10|\n", + "As of October 29, 2011, there was $88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units.", + "That cost is expected to be recognized over a weighted-average period of 1.3 years.", + "The total grant-date fair value of shares that vested during fiscal 2011, 2010 and 2009 was approximately $49.6 million, $67.7 million and $74.4 million, respectively.", + "Common Stock Repurchase Program The Company\u2019s common stock repurchase program has been in place since August 2004.", + "In the aggregate, the Board of Directors has authorized the Company to repurchase $5 billion of the Company\u2019s common stock under the program.", + "Under the program, the Company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions.", + "Unless terminated earlier by resolution of the Company\u2019s Board of Directors, the repurchase program will expire when the Company has repurchased all shares authorized under the program.", + "As of October 29, 2011, the Company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $4,278.5 million under this program.", + "An additional $721.5 million remains available for repurchase of shares under the current authorized program.", + "The repurchased shares are held as authorized but unissued shares of common stock.", + "Any future common stock repurchases will be dependent upon several factors, including the amount of cash available to the Company in the United States and the Company\u2019s financial performance, outlook and liquidity.", + "The Company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units, or in certain limited circumstances to satisfy the exercise price of options granted to the Company\u2019s employees under the Company\u2019s equity compensation plans.", + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT\u2019S DISCUSSION AND ANALYSIS", + "||As of|\n|(dollars in millions)|December 31,2016|September 30,2016|June 30,2016|March 31,2016|December 31,2015|September 30,2015|June 30,2015|March 31,2015|\n|Balance Sheet Data:|||||||||\n|Total assets|$149,520|$147,015|$145,183|$140,077|$138,208|$135,447|$137,251|$136,535|\n|Loans and leases-18|107,669|105,467|103,551|100,991|99,042|97,431|96,538|94,494|\n|Allowance for loan and lease losses|1,236|1,240|1,246|1,224|1,216|1,201|1,201|1,202|\n|Total securities|25,610|25,704|24,398|24,057|24,075|24,354|25,134|25,121|\n|Goodwill|6,876|6,876|6,876|6,876|6,876|6,876|6,876|6,876|\n|Total liabilities|129,773|126,834|124,957|120,112|118,562|115,847|117,665|116,971|\n|Deposits|109,804|108,327|106,257|102,606|102,539|101,866|100,615|98,990|\n|Federal funds purchased and securities sold under agreements to repurchase|1,148|900|717|714|802|1,293|3,784|4,421|\n|Other short-term borrowed funds|3,211|2,512|2,770|3,300|2,630|5,861|6,762|7,004|\n|Long-term borrowed funds|12,790|11,902|11,810|10,035|9,886|4,153|3,890|3,904|\n|Total stockholders\u2019 equity|19,747|20,181|20,226|19,965|19,646|19,600|19,586|19,564|\n|Other Balance Sheet Data:|||||||||\n|Asset Quality Ratios:|||||||||\n|Allowance for loan and lease losses as a percentage of total loans and leases|1.15%|1.18%|1.20%|1.21%|1.23%|1.23%|1.24%|1.27%|\n|Allowance for loan and lease losses as a percentage of nonperforming loans and leases|118|112|119|113|115|116|114|106|\n|Nonperforming loans and leases as a percentage of total loans and leases|0.97|1.05|1.01|1.07|1.07|1.06|1.09|1.20|\n|Capital ratios:-19|||||||||\n|CET1 capital ratio-20|11.2|11.3|11.5|11.6|11.7|11.8|11.8|12.2|\n|Tier 1 capital ratio-21|11.4|11.5|11.7|11.9|12.0|12.0|12.1|12.2|\n|Total capital ratio-22|14.0|14.2|14.9|15.1|15.3|15.4|15.3|15.5|\n|Tier 1 leverage ratio-23|9.9|10.1|10.3|10.4|10.5|10.4|10.4|10.5|\n", + "(1) Third quarter 2016 noninterest income included $67 million of pre-tax notable items consisting of a $72 million gain on mortgage/home equity TDR transaction, partially offset by $5 million related to asset finance repositioning.", + "(2) Third quarter 2016 noninterest expense included $36 million of pre-tax notable items consisting of $17 million of TOP III efficiency initiatives, $11 million related to asset finance repositioning and $8 million of home equity operational items.", + "(3) Third quarter 2016 net income included $19 million of after-tax notable items consisting of a $45 million gain on mortgage/home equity TDR transaction, partially offset by $11 million of TOP III efficiency initiatives, $10 million related to asset finance repositioning and $5 million of home equity operational items.", + "(4) Third quarter 2016 net income per average common share, basic and diluted, included $0.04 related to notable items consisting of $0.09 attributable to the gain on mortgage/home equity TDR transaction, partially offset by a $0.02 impact from TOP III efficiency initiatives, $0.02 impact related to asset finance repositioning and a $0.01 impact from home equity operational items.", + "(5) Second quarter 2015 noninterest expense included $40 million of pre-tax restructuring charges and special items consisting of $25 million of restructuring charges, $1 million of CCAR and regulatory expenses and $14 million related to separation and rebranding.", + "(6) Second quarter 2015 net income included $25 million of after-tax restructuring charges and special items consisting of $15 million of restructuring charges, $1 million of CCAR and regulatory expenses and $9 million related to separation and rebranding.", + "(7) Second quarter 2015 net income per average common share, basic and diluted, included $0.05 attributed to restructuring and special items.", + "(8) First quarter 2015 noninterest expense included $10 million of pre-tax restructuring charges and special items consisting of $1 million of restructuring charges, $1 million of CCAR and regulatory expenses and $8 million related to separation and rebranding.", + "(9) First quarter 2015 net income included $6 million of after-tax restructuring charges and special items consisting of $1 million of restructuring charges and $5 million related to separation and rebranding.", + "(10) First quarter 2015 net income per average common share, basic and diluted, included $0.01 attributed to restructuring and special items.", + "(11) \u201cReturn on average common equity\u201d is defined as net income available to common stockholders divided by average common equity.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(12) \u201cReturn on average tangible common equity\u201d is defined as net income (loss) available to common stockholders divided by average common equity excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "Average common equity represents average total stockholders\u2019 equity less average preferred stock.", + "(13) \u201cReturn on average total assets\u201d is defined as net income (loss) divided by average total assets.", + "(14) \u201cReturn on average total tangible assets\u201d is defined as net income (loss) divided by average total assets excluding average goodwill (net of related deferred tax liability) and average other intangibles.", + "(15) \u201cEfficiency ratio is defined as the ratio of our total noninterest expense to the sum of net interest income and total noninterest income.", + "(16) \u201cNet interest margin\u201d is defined as net interest income divided by average total interest-earning assets.", + "(17) Ratios for the periods above are presented on an annualized basis.", + "(18) Excludes loans held for sale of $625 million, $526 million, $850 million, $751 million, $365 million, $420 million, $697 million, and $376 million as of December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.", + "(19) Basel III transitional rules for institutions applying the Standardized approach to calculating risk-weighted assets became effective January 1, 2015.", + "The capital ratios and associated components are prepared using the Basel III Standardized transitional approach.", + "(20) \u201cCommon equity tier 1 capital ratio\u201d represents CET1 capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(21) \u201cTier 1 capital ratio\u201d is tier 1 capital, which includes CET1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(22) \u201cTotal capital ratio\u201d is total capital divided by total risk-weighted assets as defined under Basel III Standardized approach.", + "(23) \u201cTier 1 leverage ratio\u201d is tier 1 capital divided by quarterly average total assets as defined under Basel III Standardized approach.", + "In Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, \u201cwe,\u201d \u201cus\u201d and \u201cour\u201d refer to Freeport-McMoRan Copper & Gold Inc. (FCX) and its consolidated subsidiaries.", + "The results of operations reported and summarized below are not necessarily indicative of future operating results (refer to \u201cCautionary Statement\u201d for further discussion).", + "In particular, the financial results for the year ended 2013 include the results of FCX Oil & Gas Inc. (FM O&G) only since June 1, 2013.", + "References to \u201cNotes\u201d are Notes included in our Notes to Consolidated Financial Statements.", + "Throughout Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, all references to earnings or losses per share are on a diluted basis, unless otherwise noted.", + "OVERVIEW In 2013, we completed the acquisitions of Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR).", + "Refer to Note 2 for further discussion of these acquisitions, including a summary of the preliminary purchase price allocations.", + "With these acquisitions, we are a premier United States-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and natural gas resources, and a growing production profile.", + "We are the world\u2019s largest publicly traded copper producer.", + "Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world\u2019s largest copper and gold deposits, significant mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and significant oil and natural gas assets in North America, including reserves in the Deepwater Gulf of Mexico (GOM), onshore and offshore California, in the Eagle Ford shale play in Texas, in the Haynesville shale play in Louisiana, in the Madden area in central Wyoming, and an industry-leading position in the emerging shallow-water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana (previously referred to as the ultra-deep gas trend).", + "We have significant mineral reserves, resources and future development opportunities within our portfolio of mining assets.", + "At December 31, 2013, our estimated consolidated recoverable proven and probable mineral reserves totaled 111.2 billion pounds of copper, 31.3 million ounces of gold and 3.26 billion pounds of molybdenum, which were determined using long-term average prices of $2.00 per pound for copper, $1,000 per ounce for gold and $10 per pound for molybdenum.", + "Refer to \u201cCritical Accounting Estimates \u2014 Mineral Reserves\u201d for further discussion.", + "A summary of the sources of our consolidated copper, gold and molybdenum production for the year 2013 by geographic location follows:", + "||Copper|Gold|Molybdenum||\n|North America|35%|1%|86%|a|\n|South America|32%|8%|14%||\n|Indonesia|22%|91%|\u2014||\n|Africa|11%|\u2014|\u2014||\n||100%|100%|100%||\n", + "a.", + "For 2013, 60 percent of our consolidated molybdenum production in North America was from the Henderson and Climax primary molybdenum mines.", + "Copper production from the Grasberg, Morenci and Cerro Verde mines totaled 49 percent of our consolidated copper production in 2013.", + "During 2013, we completed our second phase expansion project at Tenke.", + "We also advanced construction on the Morenci mill expansion, with startup expected in the first half of 2014, and commenced construction on the Cerro Verde mill expansion, with completion expected in 2016.", + "These projects are expected to significantly increase our minerals production in future periods.", + "Refer to \u201cOperations\u201d for further discussion of our mining operations.", + "Our oil and gas business has significant proved, probable and possible reserves with financially attractive organic growth opportunities.", + "Our estimated proved oil and natural gas reserves at December 31, 2013, totaled 464 million barrels of oil equivalents (MMBOE), with 80 percent comprised of oil (including natural gas liquids, or NGLs).", + "Our portfolio includes a broad range of development opportunities and high-potential exploration prospects.", + "For the seven-month period following the acquisition date, our oil and gas sales volumes totaled 38.1 MMBOE, including 26.6 million barrels (MMBbls) of crude oil, 54.2 billion cubic feet (Bcf) of natural gas and 2.4 MMBbls of NGLs.", + "Refer to \u201cOperations\u201d for further discussion of our oil and gas operations and to \u201cCritical Accounting Estimates \u2014 Oil and Natural Gas Reserves\u201d for further discussion of our reserves.", + "Our results for 2013, compared with 2012, primarily benefited from higher copper and gold sales volumes, partly offset by lower metals price realizations, and include the results of FM O&G beginning June 1, 2013.", + "Refer to \u201cConsolidated Results\u201d for discussion of items impacting our consolidated results for the three years ended December 31, 2013.", + "At December 31, 2013, we had $2.0 billion in consolidated cash and cash equivalents and $20.7 billion in total debt, including $10.5 billion of acquisition-related debt and $6.7 billion of debt assumed in connection with the oil and gas acquisitions.", + "Refer to Note 8 and \u201cCapital Resources and Liquidity\u201d for further discussion.", + "At current copper and crude oil prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects, reduce debt and return cash to shareholders through dividends on our common stock." + ], + "question_id": "simplong-test-311", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of distribution fees and other revenues in 2014? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "spread over the LIBOR swap curve, the reduction to net income would be approximately $235 million, net of DAC and DSIC amortization and income taxes, based on December 31, 2008 credit spreads.", + "The nonperformance risk for our derivatives is managed and mitigated primarily through the use of master netting arrangements and collateral arrangements.", + "As of December 31, 2008, any deterioration in our derivative counterparties\u2019 credit would not materially impact our financial statements.", + "Liquidity and Capital Resources Overview We maintained substantial liquidity during 2008.", + "At December 31, 2008, we had $6.2 billion in cash and cash equivalents compared to $3.8 billion at December 31, 2007.", + "Approximately $1.6 billion of the increase in cash and cash equivalents was from increases in collateral received from derivative counterparties as our living benefits hedge portfolio gained in value.", + "Excluding the collateral balances, cash and cash equivalents were $4.4 billion and $3.6 billion at December 31, 2008 and 2007, respectively.", + "We have additional liquidity available through an unsecured revolving credit facility for $750 million that expires in September 2010.", + "Under the terms of the underlying credit agreement, we can increase this facility to $1.0 billion.", + "Available borrowings under this facility are reduced by any outstanding letters of credit.", + "We have had no borrowings under this credit facility and had $2 million of outstanding letters of credit at December 31, 2008.", + "We believe cash flows from operating activities, available cash balances and our availability of revolver borrowings will be sufficient to fund our operating liquidity needs.", + "The following table summarizes the ratings for Ameriprise Financial, Inc. (\u2018\u2018Ameriprise Financial\u2019\u2019) and certain of its subsidiaries as of the date of this filing:", + "| | A.M. Best Company| Standard & Poor's Rating Services| Moody's Investors Service| Fitch Ratings Ltd.|\n| Claims Paying Ratings|||||\n|RiverSource Life|A+|AA-|Aa3|AA-|\n|IDS Property Casualty Insurance Company|A|N/R|N/R|N/R|\n| Credit Ratings|||||\n|Ameriprise Financial, Inc.|a-|A|A3|A-|\n", + "On January 29, 2009, Standard & Poor\u2019s Ratings Services (\u2018\u2018S&P\u2019\u2019) and Moody\u2019s Investors Service (\u2018\u2018Moody\u2019s\u2019\u2019) affirmed the ratings of Ameriprise Financial, Inc. and RiverSource Life citing excellent capitalization and solid financial flexibility.", + "At the same time, both S&P and Moody\u2019s revised their outlook on Ameriprise Financial, Inc. and RiverSource Life from stable to negative citing diminished earnings power resulting from the challenging equity and credit markets.", + "On July 10, 2008, S&P raised its counterparty credit rating on Ameriprise Financial, Inc. to \u2018A\u2019 from \u2018A-\u2019 and indicated its ratings outlook on our company as stable, citing our strong balance sheet and strong cash coverage of our stable life insurance and asset management operations, supported by an innovative financial advisory distribution channel.", + "These positive factors are somewhat offset by sensitivity to equity-market and debt-market volatility and competitive pressure in our key segments.", + "At the same time, S&P affirmed its \u2018AA-\u2019 counterparty credit and financial strength ratings on our life insurance subsidiaries, RiverSource Life and RiverSource Life of NY.", + "Our capital transactions in 2008 and 2007 primarily related to the repurchase of our common stock, dividends paid to our shareholders and the repurchase of debt.", + "Dividends from Subsidiaries Ameriprise Financial is primarily a parent holding company for the operations carried out by our wholly owned subsidiaries.", + "Because of our holding company structure, our ability to meet our cash requirements, including the payment of dividends on our common stock, substantially depends upon the receipt of dividends or return of capital from our subsidiaries, particularly our life insurance subsidiary, RiverSource Life, our face-amount certificate subsidiary, Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019), our retail introducing broker-dealer subsidiary, Ameriprise Financial Services, Inc. (\u2018\u2018AFSI\u2019\u2019), our clearing broker\u0002dealer subsidiary, American Enterprise Investment Services, Inc. (\u2018\u2018AEIS\u2019\u2019), our auto and home insurance subsidiary, IDS Property Casualty Insurance Company (\u2018\u2018IDS Property Casualty\u2019\u2019), doing business as Ameriprise Auto & Home Insurance, Threadneedle, RiverSource Service Corporation and our investment advisory company, RiverSource Investments.", + "The", + "home business reflecting the impact of growth in exposures from an 11% increase in policies in force, an increase in catastrophe losses reflecting the growth in exposures and the extremely severe winter and spring weather during 2014, and adverse development in the 2013 and prior accident years auto liability coverage observed during the first quarter of 2014 resulting in a $30 million increase to prior accident year loss reserves.", + "Later in 2014, further adverse loss development was observed primarily in the 2014 auto book of business which resulted in a $60 million increase to loss reserves for estimated losses including IBNR.", + "Catastrophe losses were $66 million for the year ended December 31, 2014 compared to $42 million for the prior year.", + "Corporate & Other The following table presents the results of operations of our Corporate & Other segment on an operating basis:", + "||Years Ended December 31,|||\n||2014|2013|Change|\n||(in millions)||\n|Revenues|||||\n|Distribution fees|$1|$1|$\u2014|\u2014%|\n|Net investment income (loss)|-6|8|-14|NM|\n|Other revenues|9|6|3|50|\n|Total revenues|4|15|-11|-73|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|4|15|-11|-73|\n|Expenses|||||\n|Distribution expenses|1|1|\u2014|\u2014|\n|Interest and debt expense|21|33|-12|-36|\n|General and administrative expense|212|210|2|1|\n|Total expenses|234|244|-10|-4|\n|Operating loss|$-230|$-229|$-1|\u2014%|\n", + "NM Not Meaningful.", + "Our Corporate & Other segment pretax operating loss excludes net realized investment gains or losses and the impact of consolidating CIEs.", + "Our Corporate & Other segment pretax operating loss was $230 million for the year ended December 31, 2014 compared to $229 million for the prior year.", + "Net investment income (loss) was a loss of $6 million for the year ended December 31, 2014 compared to income of $8 million for the prior year due to a $13 million increase in losses associated with affordable housing partnerships.", + "Interest and debt expense decreased $12 million, or 36%, to $21 million for the year ended December 31, 2014 compared to $33 million for the prior year primarily due to $19 million in costs in 2013 related to the early redemption of our senior notes due 2015, partially offset by expenses in 2014 related to the early redemption of our senior notes due 2039.", + "General and administrative expense for the year ended December 31, 2014 included a provision for potential resolution of a regulatory matter regarding certain historical events and processes at one of our ongoing lines of business, which was partially offset by lower investment spending compared to the prior year.", + "Fair Value Measurements We report certain assets and liabilities at fair value; specifically, separate account assets, derivatives, embedded derivatives, properties held by our consolidated property funds, and most investments and cash equivalents.", + "Fair value assumes the exchange of assets or liabilities occurs in orderly transactions and is not the result of a forced liquidation or distressed sale.", + "We include actual market prices, or observable inputs, in our fair value measurements to the extent available.", + "Broker quotes are obtained when quotes from pricing services are not available.", + "We validate prices obtained from third parties through a variety of means such as: price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of vendors.", + "See Note 14 to the Consolidated Financial Statements for additional information on our fair value measurements.", + "Fair Value of Liabilities and Nonperformance Risk Companies are required to measure the fair value of liabilities at the price that would be received to transfer the liability to a market participant (an exit price).", + "Since there is not a market for our obligations of our variable annuity riders and indexed universal life insurance, we consider the assumptions participants in a hypothetical market would make to reflect an exit price.", + "As a result, we adjust the valuation of variable annuity riders and indexed universal life insurance by updating certain contractholder assumptions, adding explicit margins to provide for profit, risk and expenses, and adjusting the rates used to discount expected cash flows to reflect a current market estimate of our nonperformance risk.", + "The", + "20.", + "Regulatory Requirements Restrictions on the transfer of funds exist under regulatory requirements applicable to certain of the Company\u2019s subsidiaries.", + "At December 31, 2016, the aggregate amount of unrestricted net assets was approximately $1.4 billion.", + "The National Association of Insurance Commissioners (\u2018\u2018NAIC\u2019\u2019) defines Risk-Based Capital (\u2018\u2018RBC\u2019\u2019) requirements for insurance companies.", + "The RBC requirements are used by the NAIC and state insurance regulators to identify companies that merit regulatory actions designed to protect policyholders.", + "These requirements apply to both the Company\u2019s life and property casualty insurance companies.", + "In addition, IDS Property Casualty is subject to the statutory surplus requirements of the State of Wisconsin.", + "The Company\u2019s life and property casualty companies each met their respective minimum RBC requirements.", + "The Company\u2019s life and property casualty insurance companies are required to prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the insurance departments of their respective states of domicile, which vary materially from GAAP.", + "Prescribed statutory accounting practices include publications of the NAIC, as well as state laws, regulations and general administrative rules.", + "The more significant differences from GAAP include charging policy acquisition costs to expense as incurred, establishing annuity and insurance reserves using different actuarial methods and assumptions, valuing investments on a different basis and excluding certain assets from the balance sheet by charging them directly to surplus, such as a portion of the net deferred income tax assets.", + "State insurance statutes contain limitations as to the amount of dividends or distributions that insurers may make without providing prior notification to state regulators.", + "For RiverSource Life, dividends or distributions in excess of unassigned surplus, as determined in accordance with accounting practices prescribed by the State of Minnesota, require advance notice to the Minnesota Department of Commerce, RiverSource Life\u2019s primary regulator, and are subject to potential disapproval.", + "RiverSource Life\u2019s statutory unassigned surplus aggregated $275 million and $954 million as of December 31, 2016 and 2015, respectively.", + "In addition, dividends or distributions, whose fair market value, together with that of other dividends or distributions made within the preceding 12 months, exceeds the greater of the previous year\u2019s statutory net gain from operations or 10% of the previous year-end statutory capital and surplus are referred to as \u2018\u2018extraordinary dividends.", + "\u2019\u2019 Extraordinary dividends also require advance notice to the Minnesota Department of Commerce, and are subject to potential disapproval.", + "Statutory capital and surplus for RiverSource Life was $3.0 billion and $3.7 billion at December 31, 2016 and 2015, respectively.", + "Statutory capital and surplus for IDS Property Casualty was $800 million and $684 million at December 31, 2016 and 2015, respectively.", + "Statutory net gain from operations and net income (loss) are summarized as follows:", + "||Years Ended December 31,|\n|2016|2015|2014|\n|(in millions)|\n|RiverSource Life||||\n|Statutory net gain from operations-1|$834|$1,033|$1,412|\n|Statutory net income-1|322|633|1,154|\n|IDS Property Casualty||||\n|Statutory net income (loss)|-8|-44|-25|\n", + "(1) Statutory net gain (loss) from operations and statutory net income (loss) are significantly impacted by changes in reserves for variable annuity guaranteed benefits, however, these impacts are substantially offset by unrealized gains (losses) on derivatives which are not included in statutory income but are recorded directly to surplus.", + "Government debt securities of $4 million and $5 million at December 31, 2016 and 2015, respectively, held by the Company\u2019s life insurance subsidiaries were on deposit with various states as required by law.", + "Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019) is registered as an investment company under the Investment Company Act of 1940 (the \u2018\u20181940 Act\u2019\u2019).", + "ACC markets and sells investment certificates to clients.", + "ACC is subject to various capital requirements under the 1940 Act, laws of the State of Minnesota and understandings with the Securities and Exchange Commission (\u2018\u2018SEC\u2019\u2019) and the Minnesota Department of Commerce.", + "The terms of the investment certificates issued by ACC and the provisions of the 1940 Act also require the maintenance by ACC of qualified assets.", + "Under the provisions of its certificates and the 1940 Act, ACC was required to have qualified assets (as that term is defined in Section 28(b) of the 1940 Act) in the amount of $5.9 billion and $4.8 billion at December 31, 2016 and 2015, respectively.", + "ACC had qualified assets of $6.3 billion and $5.1 billion at December 31, 2016 and 2015, respectively.", + "Ameriprise Financial and ACC entered into a Capital Support Agreement on March 2, 2009, pursuant to which Ameriprise Financial agrees to commit such capital to ACC as is necessary to satisfy applicable minimum capital requirements.", + "Effective April 30, 2014, this agreement was amended to revise the maximum commitment to $50 million.", + "For the years", + "Management anticipates that the effective tax rate in 2017 will be between 32% and 35%.", + "However, business portfolio actions, changes in the current economic environment, tax legislation or rate changes, currency fluctuations, ability to realize deferred tax assets, movements in stock price impacting tax benefits or deficiencies on stock-based payment awards, and the results of operations in certain taxing jurisdictions may cause this estimated rate to fluctuate.", + "Segment Information Arconic\u2019s operations consist of three worldwide reportable segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions (see below).", + "Segment performance under Arconic\u2019s management reporting system is evaluated based on a number of factors; however, the primary measure of performance is the after-tax operating income (ATOI) of each segment.", + "Certain items such as the impact of LIFO inventory accounting; metal price lag (the timing difference created when the average price of metal sold differs from the average cost of the metal when purchased by the respective segment\u2014generally when the price of metal increases, metal lag is favorable and when the price of metal decreases, metal lag is unfavorable); interest expense; noncontrolling interests; corporate expense (general administrative and selling expenses of operating the corporate headquarters and other global administrative facilities, along with depreciation and amortization on corporate-owned assets); restructuring and other charges; and other items, including intersegment profit eliminations, differences between tax rates applicable to the segments and the consolidated effective tax rate, and other nonoperating items such as foreign currency transaction gains/losses and interest income are excluded from segment ATOI.", + "ATOI for all reportable segments totaled $1,087 in 2016, $986 in 2015, and $983 in 2014.", + "The following information provides shipment, sales and ATOI data for each reportable segment, as well as certain realized price data, for each of the three years in the period ended December 31, 2016.", + "See Note O to the Consolidated Financial Statements in Part II Item 8 of this Form 10-K for additional information.", + "Beginning in the first quarter of 2017, Arconic\u2019s segment reporting metric will change from ATOI to Adjusted EBITDA.", + "Global Rolled Products(1)", + "||2016|2015|2014|\n|Third-party aluminum shipments (kmt)|1,339|1,375|1,598|\n|Average realized price per metric ton of aluminum-2|$3,633|$3,820|$3,970|\n|Third-party sales|$4,864|$5,253|$6,344|\n|Intersegment sales|118|125|185|\n|Total sales|$4,982|$5,378|$6,529|\n|ATOI|$269|$225|$224|\n", + "Excludes the Warrick, IN rolling operations and the equity interest in the rolling mill at the joint venture in Saudi Arabia, both of which were previously part of the Global Rolled Products segment but became part of Alcoa Corporation effective November 1, 2016.", + "(2) Generally, average realized price per metric ton of aluminum includes two elements: a) the price of metal (the underlying base metal component based on quoted prices from the LME, plus a regional premium which represents the incremental price over the base LME component that is associated with physical delivery of metal to a particular region), 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\u2019s customers with limited exception (e. g. , fixed-priced contracts, certain regional premiums).", + "The Global Rolled Products segment produces aluminum sheet and plate for a variety of end markets.", + "Sheet and plate is sold directly to customers and through distributors related to the aerospace, automotive, commercial transportation, packaging, 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" + ], + "question_id": "simplong-test-312", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Investment banking fees of 2004, and Commissions and fees of Year Ended December 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis Institutional Client Services Our Institutional Client Services segment is comprised of: Fixed Income, Currency and Commodities Client Execution.", + "Includes client execution activities related to making markets in interest rate products, credit products, mortgages, currencies and commodities.", + "\u2030 Interest Rate Products.", + "Government bonds, money market instruments such as commercial paper, treasury bills, repurchase agreements and other highly liquid securities and instruments, as well as interest rate swaps, options and other derivatives.", + "\u2030 Credit Products.", + "Investment-grade corporate securities, high-yield securities, credit derivatives, bank and bridge loans, municipal securities, emerging market and distressed debt, and trade claims.", + "\u2030 Mortgages.", + "Commercial mortgage-related securities, loans and derivatives, residential mortgage-related securities, loans and derivatives (including U. S. government agency-issued collateralized mortgage obligations, other prime, subprime and Alt-A securities and loans), and other asset-backed securities, loans and derivatives.", + "\u2030 Currencies.", + "Most currencies, including growth-market currencies.", + "\u2030 Commodities.", + "Crude oil and petroleum products, natural gas, base, precious and other metals, electricity, coal, agricultural and other commodity products.", + "Equities.", + "Includes client execution activities related to making markets in equity products and commissions and fees from executing and clearing institutional client transactions on major stock, options and futures exchanges worldwide, as well as OTC transactions.", + "Equities also includes our securities services business, which provides financing, securities lending and other prime brokerage services to institutional clients, including hedge funds, mutual funds, pension funds and foundations, and generates revenues primarily in the form of interest rate spreads or fees.", + "The table below presents the operating results of our Institutional Client Services segment.", + "||Year Ended December|\n|$ in millions|2014|2013|2012|\n|Fixed Income, Currency and Commodities Client Execution|$ 8,461|$ 8,651|$ 9,914|\n|Equities client execution1|2,079|2,594|3,171|\n|Commissions and fees|3,153|3,103|3,053|\n|Securities services|1,504|1,373|1,986|\n|Total Equities|6,736|7,070|8,210|\n|Total net revenues|15,197|15,721|18,124|\n|Operating expenses|10,880|11,792|12,490|\n|Pre-tax earnings|$ 4,317|$ 3,929|$ 5,634|\n", + "Notes to consolidated financial statements JPMorgan Chase & Co. 102 JPMorgan Chase & Co. / 2004 Annual Report The following table reflects information about the Firm\u2019s loans held for sale, principally mortgage-related:", + "|Year ended December 31, (in millions)(a)| 2004|2003|2002|\n|Net gains on sales of loans held for sale|$368|$933|$754|\n|Lower of cost or market adjustments|39|26|-36|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "Impaired loans JPMorgan Chase accounts for and discloses nonaccrual loans as impaired loans and recognizes their interest income as discussed previously for nonac\u0002crual loans.", + "The Firm excludes from impaired loans its small-balance, homoge\u0002neous consumer loans; loans carried at fair value or the lower of cost or fair value; debt securities; and leases.", + "The table below sets forth information about JPMorgan Chase\u2019s impaired loans.", + "The Firm primarily uses the discounted cash flow method for valuing impaired loans:", + "|December 31, (in millions)| 2004|2003|(a)|\n|Impaired loans with an allowance|$1,496|$1,597||\n|Impairedloans without anallowance(b)|284|406||\n|Total impaired loans|$1,780|$2,003||\n|Allowance for impaired loans under SFAS 114(c)|$521|$595||\n|Average balance of impaired loans during the year|1,883|2,969||\n|Interest income recognized on impairedloans during the year|8|4||\n", + "(a) Heritage JPMorgan Chase only.", + "(b) When the discounted cash flows, collateral value or market price equals or exceeds the carrying value of the loan, then the loan does not require an allowance under SFAS 114.", + "(c) The allowance for impaired loans under SFAS 114 is included in JPMorgan Chase\u2019s Allowance for loan losses.", + "Note 12 \u2013 Allowance for credit losses JPMorgan Chase\u2019s Allowance for loan losses covers the wholesale (primarily risk-rated) and consumer (primarily scored) loan portfolios and represents man\u0002agement\u2019s estimate of probable credit losses inherent in the Firm\u2019s loan portfo\u0002lio.", + "Management also computes an Allowance for wholesale lending-related commitments using a methodology similar to that used for the wholesale loans.", + "As a result of the Merger, management modified its methodology for determin\u0002ing the Provision for credit losses for the combined Firm.", + "The effect of conform\u0002ing methodologies in 2004 was a decrease in the consumer allowance of $254 million and a decrease in the wholesale allowance (including both funded loans and lending-related commitments) of $330 million.", + "In addition, the Bank One seller\u2019s interest in credit card securitizations was decertificated; this resulted in an increase to the provision for loan losses of approximately $1.4 billion (pre-tax) in 2004.", + "The Allowance for loan losses consists of two components: asset-specific loss and formula-based loss.", + "Within the formula-based loss is a statistical calcula\u0002tion and an adjustment to the statistical calculation.", + "The asset-specific loss component relates to provisions for losses on loans considered impaired and measured pursuant to SFAS 114.", + "An allowance is established when the discounted cash flows (or collateral value or observable market price) of the loan are lower than the carrying value of that loan.", + "To compute the asset-specific loss component of the allowance larger impaired loans are evaluated individually, and smaller impaired loans are evaluated as a pool using historical loss experience for the respective class of assets.", + "The formula-based loss component covers performing wholesale and consumer loans and is the product of a statistical calculation, as well as adjustments to such calculation.", + "These adjustments take into consideration model imprecision, external factors and economic events that have occurred but are not yet reflected in the factors used to derive the statistical calculation.", + "The statistical calculation is the product of probability of default and loss given default.", + "For risk-rated loans (generally loans originated by the whole\u0002sale lines of business), these factors are differentiated by risk rating and maturity.", + "For scored loans (generally loans originated by the consumer lines of business), loss is primarily determined by applying statistical loss factors and other risk indicators to pools of loans by asset type.", + "Adjustments to the statis\u0002tical calculation for the risk-rated portfolios are determined by creating esti\u0002mated ranges using historical experience of both loss given default and prob\u0002ability of default.", + "Factors related to concentrated and deteriorating industries are also incorporated into the calculation where relevant.", + "Adjustments to the statistical calculation for the scored loan portfolios are accomplished in part by analyzing the historical loss experience for each major product segment.", + "The estimated ranges and the determination of the appropriate point within the range are based upon management\u2019s view of uncertainties that relate to current macroeconomic and political conditions, quality of underwriting stan\u0002dards, and other relevant internal and external factors affecting the credit quality of the portfolio.", + "The Allowance for lending-related commitments represents management\u2019s estimate of probable credit losses inherent in the Firm\u2019s process of extending credit.", + "Management establishes an asset-specific allowance for lending-related commitments that are considered impaired and computes a formula-based allowance for performing wholesale lending-related commitments.", + "These are computed using a methodology similar to that used for the wholesale loan portfolio, modified for expected maturities and probabilities of drawdown.", + "At least quarterly, the allowance for credit losses is reviewed by the Chief Risk Officer and the Deputy Chief Risk Officer of the Firm and is discussed with a risk subgroup of the Operating Committee, relative to the risk profile of the Firm\u2019s credit portfolio and current economic conditions.", + "As of December 31, 2004, JPMorgan Chase deemed the allowance for credit losses to be appro\u0002priate (i. e. , sufficient to absorb losses that are inherent in the portfolio, including those not yet identifiable).", + "Market risk\u2013average trading and credit portfolio VAR", + "|(in millions, except headcount and ratios)|2004|2003|2002|\n| Revenue by business||||\n|Investment banking fees|$3,572|$2,871|$2,707|\n|Fixed income markets|6,314|6,987|5,450|\n|Equities markets|1,491|1,406|1,018|\n|Credit portfolio|1,228|1,420|1,507|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Revenue by region||||\n|Americas|$6,870|$7,250|$6,360|\n|Europe/Middle East/Africa|4,082|4,331|3,215|\n|Asia/Pacific|1,653|1,103|1,107|\n| Total net revenue|$12,605|$12,684|$10,682|\n| Selected balance sheet (average)||||\n|Total assets|$473,121|$436,488|$429,866|\n|Tradingassets \u2013 debt and equity instruments|173,086|156,408|134,191|\n|Tradingassets \u2013 derivatives receivables|58,735|83,361|70,831|\n|Loans(b)|42,618|45,037|55,998|\n|Adjusted assets(c)|393,646|370,776|359,324|\n|Equity|17,290|18,350|19,134|\n| Headcount|17,478|14,691|15,012|\n| Credit data and quality statistics||||\n|Net charge-offs|$47|$680|$1,627|\n|Nonperforming assets:||||\n|Nonperforming loans(d)(e)|954|1,708|3,328|\n|Other nonperforming assets|242|370|408|\n|Allowance for loan losses|1,547|1,055|1,878|\n|Allowance for lending related commitments|305|242|324|\n|Net charge-off rate(b)|0.13%|1.65%|3.15%|\n|Allowance for loan losses to average loans(b)|4.27|2.56|3.64|\n|Allowance for loan losses to nonperforming loans(d)|163|63|57|\n|Nonperforming loans to average loans|2.24|3.79|5.94|\n| Market risk-average trading and credit portfolio VAR||||\n|Trading activities:||||\n|Fixed income(f)|$74|$61|NA|\n|Foreign exchange|17|17|NA|\n|Equities|28|18|NA|\n|Commodities and other|9|8|NA|\n|Diversification|-43|-39|NA|\n| Total trading VAR|85|65|NA|\n|Credit portfolio VAR(g)|14|18|NA|\n|Diversification|-9|-14|NA|\n| Total trading and credit portfolio VAR|$90|$69|NA|\n", + "(a) 2004 results include six months of the combined Firm\u2019s results and six months of heritage JPMorgan Chase results.", + "All other periods reflect the results of heritage JPMorgan Chase only.", + "(b) The year-to-date average loans held for sale are $6.4 billion, $3.8 billion and $4.3 billion for 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios and net charge-off rates.", + "The 2002 net charge-offs and net charge-off rate exclude charge-offs of $212 million taken on lending-related commitments.", + "(c) Adjusted assets equals total average assets minus (1) securities purchased under resale agreements and securities borrowed less securities sold, not yet purchased; (2) assets of variable interest entities (VIEs) consolidated under FIN 46R; (3) cash and securities segre\u0002gated and on deposit for regulatory and other purposes; and (4) goodwill and intangibles.", + "The amount of adjusted assets is presented to assist the reader in comparing the IB\u2019s asset and capital levels to other investment banks in the securities industry.", + "Asset-to-equity lever\u0002age ratios are commonly used as one measure to assess a company\u2019s capital adequacy.", + "The IB believes an adjusted asset amount, which excludes certain assets considered to have a low risk profile, provides a more meaningful measure of balance sheet leverage in the securi\u0002ties industry.", + "See Capital management on pages 50\u201352 of this Annual Report for a discus\u0002sion of the Firm\u2019s overall capital adequacy and capital management.", + "(d) Nonperforming loans include loans held for sale of $2 million, $30 million and $16 million as of December 31, 2004, 2003 and 2002, respectively.", + "These amounts are not included in the allowance coverage ratios.", + "(e) Nonperforming loans exclude loans held for sale of $351 million, $22 million and $2 million as of December 31, 2004, 2003, and 2002, respectively, that were purchased as part of the IB\u2019s proprietary investing activities.", + "(f) Includes all mark-to-market trading activities, plus available-for-sale securities held for IB investing purposes.", + "(g) Includes VAR on derivative credit valuation adjustments, credit valuation adjustment hedges and mark-to-market loan hedges, which are reported in Trading revenue.", + "This VAR does not include the accrual loan portfolio, which is not marked to market.", + "NA-Data for 2002 is not available on a comparable basis.", + "According to Thomson Financial, in 2004, the Firm improved its ranking in U. S. announced M&A from #8 to #1, and Global announced M&A from #4 to #2, while increasing its market share significantly.", + "The Firm\u2019s U. S. initial public offerings ranking improved from #16 to #4, with the Firm moving to #6 from #4 in the U. S. Equity & Equity-related category.", + "The Firm maintained its #1 ranking in U. S. syndicated loans, with a 32% market share, and its #3 position in Global Debt, Equity and Equity-related.", + "Market shares and rankings(a)", + "|| 2004|2003|2002|\n|December 31,|Market Share|Rankings|Market Share|Rankings|Market Share|Rankings|\n|Global debt, equity and equity-related|7%| # 3|8%|# 3|8%|#3|\n|Global syndicated loans|20| # 1|20|# 1|26|#1|\n|Global long-term debt|7| # 2|8|# 2|8|#2|\n|Global equity and equity-related|6| # 6|8|# 4|4|#8|\n|Global announced M&A|26| # 2|16|# 4|14|#5|\n|U.S. debt, equity and equity-related|8| # 5|9|# 3|10|#2|\n|U.S. syndicated loans|32| # 1|35|# 1|39|#1|\n|U.S. long-term debt|12| # 2|10|# 3|13|#2|\n|U.S. equity and equity-related|8| # 6|11|# 4|6|#6|\n|U.S. announced M&A|33| # 1|13|# 8|14|#7|\n", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. 78 JPMorgan Chase & Co. / 2004 Annual Report there is little to no subjectivity in determining fair value.", + "When observable market prices and parameters do not exist, management judgment is neces\u0002sary to estimate fair value.", + "The valuation process takes into consideration fac\u0002tors such as liquidity and concentration concerns and, for the derivatives port\u0002folio, counterparty credit risk (see the discussion of CVA on page 63 of this Annual Report).", + "For example, there is often limited market data to rely on when estimating the fair value of a large or aged position.", + "Similarly, judgment must be applied in estimating prices for less readily observable external parameters.", + "Finally, other factors such as model assumptions, market disloca\u0002tions and unexpected correlations can affect estimates of fair value.", + "Imprecision in estimating these factors can impact the amount of revenue or loss recorded for a particular position.", + "Trading and available-for-sale portfolios Substantially all of the Firm\u2019s securities held for trading and investment purposes (\u201clong\u201d positions) and securities that the Firm has sold to other parties but does not own (\u201cshort\u201d positions) are valued based on quoted market prices.", + "However, certain securities are less actively traded and, therefore, are not always able to be valued based on quoted market prices.", + "The determination of their fair value requires management judgment, as this determination may require benchmarking to similar instruments or analyzing default and recovery rates.", + "Examples include certain collateralized mortgage and debt obligations and high-yield debt securities.", + "As few derivative contracts are listed on an exchange, the majority of the Firm\u2019s derivative positions are valued using internally developed models that use as their basis readily observable market parameters \u2013 that is, parameters that are actively quoted and can be validated to external sources, including industry-pricing services.", + "Certain derivatives, however, are valued based on models with significant unobservable market parameters \u2013 that is, parameters that may be estimated and are, therefore, subject to management judgment to substantiate the model valuation.", + "These instruments are normally either less actively traded or trade activity is one-way.", + "Examples include long-dated inter\u0002est rate or currency swaps, where swap rates may be unobservable for longer maturities, and certain credit products, where correlation and recovery rates are unobservable.", + "Due to the lack of observable market data, the Firm defers the initial trading profit for these financial instruments.", + "The deferred profit is recognized in Trading revenue on a systematic basis and when observable mar\u0002ket data becomes available.", + "Management judgment includes recording fair value adjustments (i. e. , reductions) to model valuations to account for parame\u0002ter uncertainty when valuing complex or less actively traded derivative transac\u0002tions.", + "The following table summarizes the Firm\u2019s trading and available-for-sale portfolios by valuation methodology at December 31, 2004:" + ], + "question_id": "simplong-test-313", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in net reserves in 2005?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Development of prior year incurred losses was $135.6 million unfavorable in 2006, $26.4 million favorable in 2005 and $249.4 million unfavorable in 2004.", + "Such losses were the result of the reserve development noted above, as well as inher\u0002ent uncertainty in establishing loss and LAE reserves.", + "Reserves for Asbestos and Environmental Losses and Loss Adjustment Expenses As of year end 2006, 7.4% of reserves reflect an estimate for the Company\u2019s ultimate liability for A&E claims for which ulti\u0002mate value cannot be estimated using traditional reserving techniques.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u2014Asbestos and Environmental Exposures\u201d and Note 3 of Notes to Consolidated Financial Statements.", + "Mt.", + "McKinley\u2019s book of direct A&E exposed insurance is relatively small and homogenous.", + "It also arises from a limited period, effective 1978 to 1984.", + "The book is based principally on excess liability policies, thereby limiting exposure analysis to a lim\u0002ited number of policies and forms.", + "As a result of this focused structure, the Company believes that it is able to comprehen\u0002sively analyze its exposures, allowing it to identify, analyze and actively monitor those claims which have unusual exposure, including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims.", + "The Company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to Mt.", + "McKinley.", + "Such engagement can take the form of pursuing a final settlement, negotiation, litigation, or the monitoring of claim activity under Settlement in Place (\u201cSIP\u201d) agreements.", + "SIP agreements generally condition an insurer\u2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer\u2019s payments.", + "The Company\u2019s Mt.", + "McKinley operation is currently managing eight SIP agreements, three of which were executed prior to the acquisition of Mt.", + "McKinley in 2000.", + "The Company\u2019s preference with respect to coverage settlements is to exe\u0002cute settlements that call for a fixed schedule of payments, because such settlements eliminate future uncertainty.", + "The Company has significantly enhanced its classification of insureds by exposure characteristics over time, as well as its analysis by insured for those it considers to be more exposed or active.", + "Those insureds identified as relatively less exposed or active are subject to less rigorous, but still active management, with an emphasis on monitoring those characteristics, which may indicate an increasing exposure or levels of activity.", + "The Company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders, including those that may not have reported significant A&E losses.", + "Everest Re\u2019s book of assumed reinsurance is relatively concentrated within a modest number of A&E exposed relationships.", + "It also arises from a limited period, effectively 1977 to 1984.", + "Because the book of business is relatively concentrated and the Company has been managing the A&E exposures for many years, its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities.", + "The Company\u2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies.", + "This level of familiarity enhances the quality of the Company\u2019s analysis of its exposure through those companies.", + "As a result, the Company believes that it can identify those claims on which it has unusual exposure, such as non-products asbestos claims, for concentrated attention.", + "However, in setting reserves for its reinsurance liabilities, the Company relies on claims data supplied, both formally and informally by its ceding companies and brokers.", + "This furnished information is not always timely or accurate and can impact the accuracy and timeli\u0002ness of the Company\u2019s ultimate loss projections.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the years ended December 31:", + "|(Dollars in millions)|2006|2005|2004|\n|Case reserves reported by ceding companies|$135.6|$125.2|$148.5|\n|Additional case reserves established by the Company (assumed reinsurance) (1)|152.1|157.6|151.3|\n|Case reserves established by the Company (direct insurance)|213.7|243.5|272.1|\n|Incurred but not reported reserves|148.7|123.3|156.4|\n|Gross reserves|650.1|649.6|728.3|\n|Reinsurance receivable|-138.7|-199.1|-221.6|\n|Net reserves|$511.4|$450.5|$506.7|\n", + "(1) Additional reserves are case specific reserves determined by the Company to be needed over and above those reported by the ceding company", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2016||||||||||\n|Attritional|$899.9|69.7%||$173.6|13.4%||$1,073.5|83.1%||\n|Catastrophes|49.4|3.8%||-0.2|0.0%||49.2|3.8%||\n|Total segment|$949.3|73.5%||$173.4|13.4%||$1,122.7|86.9%||\n|2015||||||||||\n|Attritional|$881.2|69.6%||$152.1|12.0%||$1,033.2|81.6%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$881.2|69.6%||$152.2|12.0%||$1,033.3|81.6%||\n|2014||||||||||\n|Attritional|$786.5|76.4%||$24.9|2.4%||$811.3|78.8%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$786.5|76.4%||$25.0|2.4%||$811.4|78.8%||\n|Variance 2016/2015||||||||||\n|Attritional|$18.7|0.1|pts|$21.5|1.4|pts|$40.3|1.5|pts|\n|Catastrophes|49.4|3.8|pts|-0.3|-|pts|$49.1|3.8|pts|\n|Total segment|$68.1|3.9|pts|$21.2|1.4|pts|$89.4|5.3|pts|\n|Variance 2015/2014||||||||||\n|Attritional|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|Catastrophes|-|-|pts|-|-|pts|-|-|pts|\n|Total segment|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 8.7% to $1,122.7 million in 2016 compared to $1,033.3 million in 2015 mainly due to an increase of $49.4 million in current year catastrophe losses, an increase of $21.5 million in prior years\u2019 attritional losses mainly related to run-off construction liability and umbrella program business and an increase of $18.7 million in current year attritional losses primarily related to the impact of the increase in premiums earned.", + "The $49.4 million of current year catastrophe losses in 2016 were due to the 2016 U. S. storms ($30.0 million), Hurricane Matthew ($11.0 million) and the Fort McMurray Canada wildfire ($8.4 million).", + "There were no current year catastrophe losses in 2015.", + "Incurred losses and LAE increased by 27.3% to $1,033.3 million in 2015 compared to $811.4 million in 2014, mainly due to an increase of $127.2 million in prior years\u2019 attritional losses related to run-off umbrella program and construction liability business and an increase of $94.7 million in current year attritional losses related primarily to the impact of the increase in premiums earned.", + "There were no current year catastrophe losses in 2015 and 2014.", + "Segment Expenses.", + "Commission and brokerage increased by 16.5% to $205.3 million in 2016 compared to $176.2 million in 2015.", + "The increase was mainly due to the impact of the increase in premiums earned and changes in the mix of business.", + "Segment other underwriting expenses increased to $176.8 million in 2016 compared to $136.7 million in 2015.", + "The increase was primarily due to increased expenses due to the build out of our insurance platform.", + "Commission and brokerage increased by 17.7% to $176.2 million in 2015 compared to $149.8 million in 2014.", + "The increase was primarily driven by the impact of the increase in premiums earned and the change in the mix of business.", + "Segment other underwriting expenses increased to $136.7 million in 2015 compared to $118.0 million in 2014.", + "The increase was primarily due to the impact of the increase in premiums earned and increased focus on insurance operations resulting in increased operating expenses, including new hires.", + "properly allocating responsibility and/or liability for asbestos or environmental damage; (d) changes in underlying laws and judicial interpretation of those laws; (e) the potential for an asbestos or environmental claim to involve many insurance providers over many policy periods; (f) questions concerning interpretation and application of insurance and reinsurance coverage; and (g) uncertainty regarding the number and identity of insureds with potential asbestos or environmental exposure.", + "Due to the uncertainties discussed above, the ultimate losses attributable to A&E, and particularly asbestos, may be subject to more variability than are non-A&E reserves and such variation could have a material adverse effect on our financial condition, results of operations and/or cash flows.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Notes 1 and 3 of Notes to the Consolidated Financial Statements.", + "Reinsurance Receivables.", + "We have purchased reinsurance to reduce our exposure to adverse claim experience, large claims and catastrophic loss occurrences.", + "Our ceded reinsurance provides for recovery from reinsurers of a portion of losses and loss expenses under certain circumstances.", + "Such reinsurance does not relieve us of our obligation to our policyholders.", + "In the event our reinsurers are unable to meet their obligations under these agreements or are able to successfully challenge losses ceded by us under the contracts, we will not be able to realize the full value of the reinsurance receivable balance.", + "To minimize exposure from uncollectible reinsurance receivables, we have a reinsurance security committee that evaluates the financial strength of each reinsurer prior to our entering into a reinsurance arrangement.", + "In some cases, we may hold full or partial collateral for the receivable, including letters of credit, trust assets and cash.", + "Additionally, creditworthy foreign reinsurers of business written in the U. S. , as well as capital markets\u2019 reinsurance mechanisms, are generally required to secure their obligations.", + "We have established reserves for uncollectible balances based on our assessment of the collectability of the outstanding balances.", + "As of December 31, 2016 and 2015, the reserve for uncollectible balances was $15.0 million.", + "Actual uncollectible amounts may vary, perhaps substantially, from such reserves, impacting income (loss) in the period in which the change in reserves is made.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 11 of Notes to the Consolidated Financial Statements and \u201cFinancial Condition \u2013 Reinsurance Receivables\u201d below.", + "Premiums Written and Earned.", + "Premiums written by us are earned ratably over the coverage periods of the related insurance and reinsurance contracts.", + "We establish unearned premium reserves to cover the unexpired portion of each contract.", + "Such reserves, for assumed reinsurance, are computed using pro rata methods based on statistical data received from ceding companies.", + "Premiums earned, and the related costs, which have not yet been reported to us, are estimated and accrued.", + "Because of the inherent lag in the reporting of written and earned premiums by our ceding companies, we use standard accepted actuarial methodologies to estimate earned but not reported premium at each financial reporting date.", + "These earned but not reported premiums are combined with reported earned premiums to comprise our total premiums earned for determination of our incurred losses and loss and LAE reserves.", + "Commission expense and incurred losses related to the change in earned but not reported premium are included in current period company and segment financial results.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1 of Notes to the Consolidated Financial Statements.", + "The following table displays the estimated components of net earned but not reported premiums by segment for the periods indicated.", + "||At December 31,|\n|(Dollars in millions)|2016|2015|2014|\n|U.S. Reinsurance|$385.5|$372.5|$388.3|\n|International|235.4|243.9|239.8|\n|Bermuda|258.4|253.4|208.4|\n|Total|$879.3|$869.8|$836.5|\n|(Some amounts may not reconcile due to rounding.)||||\n" + ], + "question_id": "simplong-test-314", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the total refined products trunk lines production in tbd for the three year period?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "eBay Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) Employee Savings Plans We have a savings plan, which qualifies under Section 401(k) of the Internal Revenue Code.", + "Participating employees may contribute up to 25% of their annual salary, but not more than statutory limits.", + "In 2005 and 2006, we contributed one dollar for each dollar a participant contributed, with a maximum contribution of $1,500 per employee.", + "In 2007, we contributed one dollar for each dollar a participant contributed, with a maximum contribution of $2,000 per employee.", + "Our non-U.", + "S. employees are covered by various other savings plans.", + "Our expenses for these plans were $8.6 million in 2005, $14.9 million in 2006 and $20.4 million in 2007.", + "Deferred Stock Unit Plan We have a deferred stock unit plan under which deferred stock units have to date, been granted non-employee directors elected to our Board of Directors after December 31, 2002.", + "Under this plan, each new director receives a one-time grant of deferred stock units equal to the result of dividing $150,000 by the fair market value of our common stock on the date of grant.", + "Each deferred stock unit constitutes an unfunded and unsecured promise by us to deliver one share of our common stock (or the equivalent value thereof in cash or property at our election).", + "Each deferred stock unit award granted to a new non-employee director upon election to the Board vests 25% one year from the date of grant, and at a rate of 2.08% per month thereafter.", + "If the services of the director are terminated at any time, all rights to the unvested deferred stock units shall also terminate.", + "In addition, directors may elect to receive, in lieu of annual retainer and committee chair fees and at the time these fees would otherwise be payable (i. e. , on a quarterly basis in arrears for services provided), fully vested deferred stock units with an initial value equal to the amount based on the fair market value of common stock at the date of grant.", + "Deferred stock units are payable following the termination of a director\u2019s tenure as a director.", + "All eBay officers, directors and employees are eligible to receive awards under the plan, although, to date, awards have been made only to new non-employee directors.", + "As of December 31, 2007, 47,481 units have been awarded under this plan.", + "Valuation Assumptions We calculated the fair value of each option award on the date of grant using the Black-Scholes option pricing model.", + "The following weighted-average assumptions were used for each respective period:", + "|| Year Ended December 31,|\n|| 2005| 2006| 2007|\n|Risk-free interest rates|3.8%|4.7%|4.5%|\n|Expected life|3 years|3 years|3.5 years|\n|Dividend yield|0%|0%|0%|\n|Expected volatility|36%|36%|37%|\n", + "Our computation of expected volatility for 2006 and 2007 was based on a combination of historical and market-based implied volatility from traded options on our stock.", + "Prior to 2006, our computation of expected volatility was based on historical volatility.", + "Our computation of expected life was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior.", + "The interest rate for periods within the contractual life of the award is based on the U. S. Treasury yield curve in effect at the time of grant.", + "We recognize interest and penalties related to unrecognized tax benefits as part of income tax expense in the Consolidated Statements of Operations, which is consistent with prior reporting periods.", + "As of December 31, 2011, three tax years were subject to audit by the United States Internal Revenue Service (IRS), covering the years 2009 through 2011.", + "In 2011, IRS examinations of the 2004 through 2008 tax returns were completed, and a final audit report was issued.", + "We are now waiting on review and final sign-off by the Joint Committee on Taxation.", + "Refunds aggregating $15.6 are expected for all years associated with the audit.", + "In addition, in 2011 we adjusted our reserve for uncertain tax positions with respect to the largest issue in connection with this examination, related to worthless stock deductions, which had a favorable impact on our tax provision of $3.6.", + "Five tax years were undergoing (or subject to) audit by the Canada Revenue Agency, covering the periods 2005 through 2009.", + "Examinations are in progress for each of these years and are at various stages of completion, but to date we are not aware of any material adjustments.", + "Various state and other foreign jurisdiction tax years remain open to examination as well, though we believe assessments (if any) would be immaterial to our consolidated financial statements.", + "We are not aware of any changes that would materially impact our tax expense for an increase or decrease in the total amount of unrecognized tax benefits within the next 12 months.", + "Deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of our assets and liabilities.", + "The major temporary differences and their associated deferred tax assets or liabilities are as follows:", + "||December 31|\n||2011|2010|\n||Assets|Liabilities|Assets|Liabilities|\n|Property, plant and equipment|$12.2|$-65.5|$12.7|$-61.8|\n|Inventories|2.1|-16.0|2.1|-18.7|\n|Accrued expenses|91.8|-.2|91.9|-1.2|\n|Net operating loss and tax credit carryforwards|67.4|\u2014|64.9|\u2014|\n|Pension cost and other post-retirement benefits|24.0|-.8|20.5|-1.4|\n|Intangible assets|3.6|-112.1|4.6|-109.2|\n|Derivative financial instruments|13.3|-1.7|.5|-2.8|\n|Uncertain tax positions|13.4|\u2014|16.9|\u2014|\n|Other|15.1|-12.7|14.4|-12.9|\n|Gross deferred tax assets (liabilities)|242.9|-209.0|228.5|-208.0|\n|Valuation allowance|-69.1|\u2014|-69.0|\u2014|\n|Total deferred taxes|$173.8|$-209.0|$159.5|$-208.0|\n|Net deferred tax (liability)||$-35.2||$-48.5|\n", + "The valuation allowance primarily relates to net operating loss and tax credit carryforwards for which utilization is uncertain.", + "Cumulative tax losses in certain state and foreign jurisdictions during recent years, limited carryforward periods in certain jurisdictions, future reversals of existing taxable temporary differences, and reasonable tax planning strategies were among the factors considered in determining the valuation allowance.", + "These loss and credit carryforwards have expiration dates that vary generally over the next 20 years, but no significant amounts expire in any one year.", + "Deferred income taxes and withholding taxes have been provided on earnings of our foreign subsidiaries to the extent it is anticipated that the earnings will be remitted in the future as dividends.", + "The tax effect of most distributions would be significantly offset by available foreign tax credits.", + "PART II Cash from Operations Cash from operations is our primary source of funds.", + "Earnings and changes in working capital levels are the two broad factors that generally have the greatest impact on our cash from operations.", + "As shown in the chart below (and discussed in the paragraph that follows), most of the variability in cash from operations in recent years has come from changes in working capital.", + "|| Amount (in millions) |# Days Outstanding|\n|| 2011 | 2010 | Change | 2011 | 2010 |Change|\n|Accounts Receivable, net-1|$504|$479|$25|51|52|-1|\n|Inventory, net-2|$441|$435|$ 6|54|59|-5|\n|Accounts Payable-3|$257|$226|$31|32|31|1|\n", + "In 2011, cash from operations decreased primarily due to lower earnings.", + "The decrease in 2010 operating cash (versus 2009) was due to the change in working capital levels (as shown in the chart above).", + "Cash from operations in 2009 benefitted from a $186 million reduction in working capital that occurred as a result of the economy-induced sales contraction.", + "The following table presents key working capital measures at the end of the past two years.", + "(1) The accounts receivable ratio represents the days of sales outstanding calculated as: ending net accounts receivable \u00f7 (net sales \u00f7 number of days in the year).", + "(2) The inventory ratio represents days of inventory on hand calculated as: ending net inventory \u00f7 (cost of goods sold \u00f7 number of days in the year).", + "(3) The accounts payable ratio represents the days of payables outstanding calculated as: ending accounts payable \u00f7 (cost of goods sold \u00f7 number of days in the year).", + "Pipeline transportation \u2013 We own a system of pipelines through Marathon Pipe Line LLC (\u201cMPL\u201d) and Ohio River Pipe Line LLC (\u201cORPL\u201d), our wholly-owned subsidiaries.", + "Our pipeline systems transport crude oil and refined products primarily in the Midwest and Gulf Coast regions to our refineries, our terminals and other pipeline systems.", + "Our MPL and ORPL wholly-owned and undivided interest common carrier systems consist of 1,737 miles of crude oil lines and 1,825 miles of refined product lines comprising 32 systems located in 11 states.", + "The MPL common carrier pipeline network is one of the largest petroleum pipeline systems in the United States, based on total barrels delivered.", + "Our common carrier pipeline systems are subject to state and Federal Energy Regulatory Commission regulations and guidelines, including published tariffs for the transportation of crude oil and refined products.", + "Third parties generated 13 percent of the crude oil and refined product shipments on our MPL and ORPL common carrier pipelines in 2009.", + "Our MPL and ORPL common carrier pipelines transported the volumes shown in the following table for each of the last three years.", + "|(Thousands of barrels per day)|2009|2008|2007|\n|Crude oil trunk lines|1,279|1,405|1,451|\n|Refined products trunk lines|953|960|1,049|\n|TOTAL|2,232|2,365|2,500|\n", + "We also own 196 miles of private crude oil pipelines and 850 miles of private refined products pipelines, and we lease 217 miles of common carrier refined product pipelines.", + "We have partial ownership interests in several pipeline companies that have approximately 780 miles of crude oil pipelines and 3,600 miles of refined products pipelines, including about 970 miles operated by MPL.", + "In addition, MPL operates most of our private pipelines and 985 miles of crude oil and 160 miles of natural gas pipelines owned by our E&P segment.", + "Our major refined product pipelines include the owned and operated Cardinal Products Pipeline and the Wabash Pipeline.", + "The Cardinal Products Pipeline delivers refined products from Kenova, West Virginia, to Columbus, Ohio.", + "The Wabash Pipeline system delivers product from Robinson, Illinois, to various terminals in the area of Chicago, Illinois.", + "Other significant refined product pipelines owned and operated by MPL extend from: Robinson, Illinois, to Louisville, Kentucky; Garyville, Louisiana, to Zachary, Louisiana; and Texas City, Texas, to Pasadena, Texas.", + "In addition, as of December 31, 2009, we had interests in the following refined product pipelines: ?65 percent undivided ownership interest in the Louisville-Lexington system, a petroleum products pipeline system extending from Louisville to Lexington, Kentucky; ?60 percent interest in Muskegon Pipeline LLC, which owns a refined products pipeline extending from Griffith, Indiana, to North Muskegon, Michigan; ?50 percent interest in Centennial Pipeline LLC, which owns a refined products system connecting the Gulf Coast region with the Midwest market; ?17 percent interest in Explorer Pipeline Company, a refined products pipeline system extending from the Gulf Coast to the Midwest; and ?6 percent interest in Wolverine Pipe Line Company, a refined products pipeline system extending from Chicago, Illinois, to Toledo, Ohio.", + "Our major owned and operated crude oil lines run from: Patoka, Illinois, to Catlettsburg, Kentucky; Patoka, Illinois, to Robinson, Illinois; Patoka, Illinois, to Lima, Ohio; Lima, Ohio to Canton, Ohio; Samaria, Michigan, to Detroit, Michigan; and St. James, Louisiana, to Garyville, Louisiana.", + "As of December 31, 2009, we had interests in the following crude oil pipelines: ?51 percent interest in LOOP LLC, the owner and operator of LOOP, which is the only U. S. deepwater oil port, located 18 miles off the coast of Louisiana, and a crude oil pipeline connecting the port facility to storage caverns and tanks at Clovelly, Louisiana; ?59 percent interest in LOCAP LLC, which owns a crude oil pipeline connecting LOOP and the Capline system;" + ], + "question_id": "simplong-test-315", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "at december 31 , 2015 , what percent of the environmental-related reserves related to environmental-related asset retirement obligations ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Interest expense related to capital lease obligations was $1.6 million during the year ended December 31, 2015, and $1.6 million during both the years ended December 31, 2014 and 2013.", + "Purchase Commitments In the table below, we set forth our enforceable and legally binding purchase obligations as of December 31, 2015.", + "Some of the amounts are based on management\u2019s estimates and assumptions about these obligations, including their duration, the possibility of renewal, anticipated actions by third parties, and other factors.", + "Because these estimates and assumptions are necessarily subjective, our actual payments may vary from those reflected in the table.", + "Purchase orders made in the ordinary course of business are excluded below.", + "Any amounts for which we are liable under purchase orders are reflected on the Consolidated Balance Sheets as accounts payable and accrued liabilities.", + "These obligations relate to various purchase agreements for items such as minimum amounts of fiber and energy purchases over periods ranging from one year to 20 years.", + "Total purchase commitments were as follows (dollars in millions):", + "|2016|$95.3|\n|2017|60.3|\n|2018|28.0|\n|2019|28.0|\n|2020|23.4|\n|Thereafter|77.0|\n|Total|$312.0|\n", + "The Company purchased a total of $299.6 million, $265.9 million, and $61.7 million during the years ended December 31, 2015, 2014, and 2013, respectively, under these purchase agreements.", + "The increase in purchases The increase in purchases under these agreements in 2014, compared with 2013, relates to the acquisition of Boise in fourth quarter 2013.", + "Environmental Liabilities The potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs, the complexity and evolving nature of governmental laws and regulations and their interpretations, and the timing, varying costs and effectiveness of alternative cleanup technologies.", + "From 2006 through 2015, there were no significant environmental remediation costs at PCA\u2019s mills and corrugated plants.", + "At December 31, 2015, the Company had $24.3 million of environmental-related reserves recorded on its Consolidated Balance Sheet.", + "Of the $24.3 million, approximately $15.8 million related to environmental-related asset retirement obligations discussed in Note 12, Asset Retirement Obligations, and $8.5 million related to our estimate of other environmental contingencies.", + "The Company recorded $7.9 million in \u201cAccrued liabilities\u201d and $16.4 million in \u201cOther long-term liabilities\u201d on the Consolidated Balance Sheet.", + "Liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions.", + "Because of these uncertainties, PCA\u2019s estimates may change.", + "The Company believes that it is not reasonably possible that future environmental expenditures for remediation costs and asset retirement obligations above the $24.3 million accrued as of December 31, 2015, will have a material impact on its financial condition, results of operations, or cash flows.", + "Guarantees and Indemnifications We provide guarantees, indemnifications, and other assurances to third parties in the normal course of our business.", + "These include tort indemnifications, environmental assurances, and representations and warranties in commercial agreements.", + "At December 31, 2015, we are not aware of any material liabilities arising from any guarantee, indemnification, or financial assurance we have provided.", + "If we determined such a liability was probable and subject to reasonable determination, we would accrue for it at that time.", + "MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES The Company's common stock is traded on the NYSE under the symbol \u201cRJF\u201d.", + "At November 19, 2007 there were approximately 14,000 holders of the Company's common stock.", + "The following table sets forth for the periods indicated the high and low trades for the common stock (as adjusted for the three-for\u0002two stock split in March 2006):", + "||2007|2006|\n||High|Low|High|Low|\n|First Quarter|$ 33.63|$ 28.53|$ 25.72|$ 20.25|\n|Second Quarter|32.52|27.38|31.45|24.47|\n|Third Quarter|34.62|29.10|31.66|26.34|\n|Fourth Quarter|36.00|28.65|30.57|26.45|\n", + "See Quarterly Financial Information on page 87 of this report for the amount of the quarterly dividends paid.", + "The Company expects to continue paying cash dividends.", + "However, the payment and rate of dividends on the Company's common stock is subject to several factors including operating results, financial requirements of the Company, and the availability of funds from the Company's subsidiaries, including the broker\u0002dealer subsidiaries, which may be subject to restrictions under the net capital rules of the SEC, FINRA and the IDA; and RJBank, which may be subject to restrictions by federal banking agencies.", + "Such restrictions have never limited the Company's dividend payments.", + "(See Note 19 of the Notes to Consolidated Financial Statements for more information on the capital restrictions placed on RJBank and the Company's broker-dealer subsidiaries).", + "See Note 15 of the Notes to Consolidated Financial Statements for information regarding repurchased shares of the Company's common stock.", + "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Factors Affecting \u201cForward-Looking Statements\u201d From time to time, the Company may publish \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, or make oral statements that constitute forward-looking statements.", + "These forward\u0002looking statements may relate to such matters as anticipated financial performance, future revenues or earnings, business prospects, projected ventures, new products, anticipated market performance, and similar matters.", + "The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements.", + "In order to comply with the terms of the safe harbor, the Company cautions readers that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements.", + "These risks and uncertainties, many of which are beyond the Company's control, are discussed in the section entitled Risk Factors on page 42 of this report.", + "The Company does not undertake any obligation to publicly update or revise any forward-looking statements.", + "Overview The following Management\u2019s Discussion and Analysis is intended to help the reader understand the results of operations and the financial condition of the Company.", + "Management\u2019s Discussion and Analysis is provided as a supplement to, and should be read in conjunction with, the Company\u2019s consolidated financial statements and accompanying notes to the consolidated financial statements.", + "The Company\u2019s results continue to be highly correlated to the direction of the U. S. equity markets and are subject to volatility due to changes in interest rates, valuation of financial instruments, economic and political trends and industry competition.", + "During 2007, the market was impacted by rising energy prices, a housing market slowdown, a subprime lending collapse, a growing economy, a weakening US dollar and stable interest rates.", + "The Company\u2019s Private Client Group\u2019s recruiting and retention of Financial Advisors was positively impacted by industry consolidation.", + "RJBank benefited from the widening interest rate spreads and the availability of attractive loan purchases as a result of the subprime lending crisis.", + "Results of Operations - RJBank The following table presents consolidated financial information for RJBank for the years indicated:", + "||Year Ended|\n||September 30, 2007|% Incr. (Decr.)|September 30, 2006|% Incr. (Decr.)|September 30, 2005|\n||($ in 000's)|\n|Interest Earnings||||||\n|Interest Income|$ 278,248|144%|$ 114,065|153%|$ 45,017|\n|Interest Expense|193,747|163%|73,529|234%|22,020|\n|Net Interest Income|84,501|108%|40,536|76%|22,997|\n|Other Income|1,324|111%|627|45%|431|\n|Net Revenues|85,825|109%|41,163|76%|23,428|\n|Non-Interest Expense||||||\n|Employee Compensation and Benefits|7,778|27%|6,135|14%|5,388|\n|Communications and Information Processing|1,052|16%|907|14%|799|\n|Occupancy and Equipment|719|14%|629|32%|478|\n|Provision for Loan Losses and Unfunded||||||\n|Commitments|32,150|134%|13,760|891%|1,388|\n|Other|17,121|359%|3,729|218%|1,171|\n|Total Non-Interest Expense|58,820|134%|25,160|173%|9,224|\n|Pre-tax Earnings|$ 27,005|69%|$ 16,003|13%|$ 14,204|\n", + "Year ended September 30, 2007 Compared with the Year ended September 30, 2006 - RJBank The Company completed its second bulk transfer of cash balances into the RJBank Deposit Program in March 2007, moving another $1.3 billion.", + "This, combined with organic growth from the influx of new client assets, resulted in a $2.6 billion increase in average deposit balances.", + "This increase in average deposit balances provided the funding for the $1.6 billion increase in average loan balances.", + "This increase was 38% purchased residential mortgage pools and 62% corporate loans, 98% of which are purchased interests in corporate loan syndications with the remainder originated by RJBank.", + "As a result of this growth, RJBank net interest income increased 108% to $84.5 million.", + "Due to robust loan growth, the associated allowance for loan losses that are established upon recording a new loan and making new unfunded commitments required a provision of over $32 million in 2007.", + "Accordingly, RJBank\u2019s pre-tax income increased only 69%.", + "During periods of growth when new loans are originated or purchased, an allowance for loan losses is established for potential losses inherent in those new loans.", + "Accordingly, a robust period of growth generally results in charges to earnings in that period, while the benefits of higher interest earnings are realized in later periods.", + "Year ended September 30, 2006 Compared with the Year ended September 30, 2005 - RJBank Assets at RJBank grew a substantial $1.8 billion during the year.", + "The increase was driven by a $1.7 billion increase in deposits, $1.3 billion of which were redirected from the Company\u2019s Heritage Cash Trust or customer brokerage accounts, representing the introduction of a new sweep program for certain brokerage accounts.", + "This alternative offers clients a money market equivalent interest rate and FDIC insurance.", + "The Company intends to expand this offering over the next several years, transferring an additional $2 to $4 billion.", + "During the year, RJBank deployed $1.3 billion of the increased deposits into loans.", + "Purchased residential loan pools increased $700 million and corporate loans increased $600 million.", + "This growth, combined with increased rates, generated an increase in net interest income of nearly $18 million.", + "Pre-tax income increased only $1.8 million, due to the $13.8 million provision for loan loss associated with the increase in loans outstanding" + ], + "question_id": "simplong-test-316", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of Total revenues in Table 2 and Restricted stock awards in Table 1 in 2007? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "rates and accrued interest thereon.", + "On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates.", + "Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves.", + "The Company generally invests the proceeds from investment certificates in fixed and variable rate securities.", + "The Company may hedge the interest rate risks under these obligations with derivative instruments.", + "As of December 31, 2009 and 2008, there were no outstanding derivatives to hedge these interest rate risks.", + "Certain investment certificate products have returns tied to the performance of equity markets.", + "The Company guarantees the principal for purchasers who hold the certificate for the full 52-week term and purchasers may participate in increases in the stock market based on the S&P 500 Index, up to a maximum return.", + "Purchasers can choose 100% participation in the market index up to the cap or 25% participation plus fixed interest with a combined total up to the cap.", + "Current first term certificates have maximum returns of 4% or 5%.", + "The equity component of these certificates is considered an embedded derivative and is accounted for separately.", + "The change in fair values of the embedded derivative reserve is reflected in banking and deposit interest expense.", + "See Note 20 for additional information about derivative instruments used to economically hedge the equity price risk related to the Company\u2019s stock market certificates.14.", + "Debt Debt and the stated interest rates were as follows:", + "| | Outstanding Balance December 31,| Stated Interest Rate December 31,|\n| | 2009| 2008|2009| 2008|\n| | (in millions) |\n|Senior notes due 2010|$340|$800|5.4%|5.4%|\n|Senior notes due 2015|700|700|5.7|5.7|\n|Senior notes due 2019|300|\u2014|7.3|\u2014|\n|Senior notes due 2039|200|\u2014|7.8|\u2014|\n|Junior subordinated notes due 2066|322|457|7.5|7.5|\n|Floating rate revolving credit borrowings due 2013|142|64|4.1|3.6|\n|Floating rate revolving credit borrowings due 2014|198|\u2014|5.9|\u2014|\n|Floating rate revolving credit borrowings due 2014|41|\u2014|2.5|\u2014|\n|Municipal bond inverse floater certificates due 2021|6|6|0.3|2.2|\n|Total|$2,249|$2,027|||\n", + "On November 23, 2005, the Company issued $1.5 billion of unsecured senior notes including $800 million of five-year senior notes which mature November 15, 2010 and $700 million of 10-year senior notes which mature November 15, 2015, and incurred debt issuance costs of $7 million.", + "Interest payments are due semi-annually on May 15 and November 15.", + "In July 2009, the Company purchased $450 million aggregate principal amount of its senior notes due 2010, pursuant to a cash tender offer.", + "The tender offer consideration per $1,000 principal amount of these notes accepted for purchase was $1,000, with an early tender payment of $30.", + "Payments for these notes purchased pursuant to the tender offer included accrued and unpaid interest from the last interest payment date to, but not including, the settlement date.", + "The Company also repurchased $10 million of these notes in the second quarter of 2009 in open market transactions.", + "On June 8, 2009, the Company issued $300 million of unsecured senior notes which mature June 28, 2019, and incurred debt issuance costs of $3 million.", + "Interest payments are due semi-annually in arrears on June 28 and December 28.", + "On June 3, 2009, the Company issued $200 million of unsecured senior notes which mature June 15, 2039, and incurred debt issuance costs of $6 million.", + "Interest payments are due quarterly in arrears on March 15, June 15, September 15 and December 15.", + "In June 2005, the Company entered into interest rate swap agreements totaling $1.5 billion, which qualified as cash flow hedges related to planned debt offerings.", + "The Company terminated the swap agreements in November 2005 when the senior notes due 2010 and 2015 were issued.", + "The related gain on the swap agreements of $71 million was recorded to accumulated other comprehensive income (loss) and is being amortized as a reduction to interest expense over the period in which the hedged cash flows are expected to occur.", + "Considering the", + "The components of the Company\u2019s share-based compensation expense, net of forfeitures, were as follows:", + "| | Years Ended December 31,|\n| | 2009| 2008| 2007|\n| | (in millions) |\n|Stock options|$53|$40|$37|\n|Restricted stock awards|59|57|52|\n|Restricted stock units|70|51|54|\n|Total|$182|$148|$143|\n", + "For the years ended December 31, 2009, 2008 and 2007, the total income tax benefit recognized by the Company related to the share\u0002based compensation expense was $64 million, $52 million and $50 million, respectively.", + "As of December 31, 2009, there was $158 million of total unrecognized compensation cost related to non-vested awards under the Company\u2019s share-based compensation plans.", + "That cost is expected to be recognized over a weighted-average period of 2.5 years.", + "Amended and Restated Ameriprise Financial 2005 Incentive Compensation Plan The 2005 ICP, which was amended and approved by shareholders on April 25, 2007, provides for the grant of cash and equity incentive awards to directors, employees and independent contractors, including stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance shares and similar awards designed to comply with the applicable federal regulations and laws of jurisdiction.", + "Under the 2005 ICP, a maximum of 37.9 million shares may be issued.", + "Of this total, no more than 4.4 million shares may be issued after April 25, 2007 for full value awards, which are awards other than stock options and stock appreciation rights.", + "Shares issued under the 2005 ICP may be authorized and unissued shares or treasury shares.", + "Deferred Compensation Plan The Deferred Compensation Plan (\u2018\u2018DCP\u2019\u2019) gives certain employees the choice to defer a portion of their bonus, which can be invested in investment options as provided by the DCP, including the Ameriprise Financial Stock Fund.", + "The Company provides a match if the participant deferrals are invested in the Ameriprise Financial Stock Fund.", + "Participant deferrals vest immediately and the Company match vests after three years.", + "Distributions are made in shares of the Company\u2019s common stock for the portion of the deferral invested in the Ameriprise Financial Stock Fund and the related Company match, for which the Company has recorded in equity.", + "The DCP does allow for accelerated vesting of the share-based awards in cases of death, disability and qualified retirement.", + "Compensation expense related to the Company match is recognized on a straight-line basis over the vesting period.", + "Ameriprise Financial 2008 Employment Incentive Equity Award Plan The 2008 Plan is designed to align new employees\u2019 interests with those of the shareholders of the Company and attract and retain new employees.", + "The 2008 Plan provides for the grant of equity incentive awards to new employees who became employees in connection with a merger or acquisition, including stock options, restricted stock awards, restricted stock units, and other equity-based awards designed to comply with the applicable federal and foreign regulations and laws of jurisdiction.", + "Under the 2008 Plan, a maximum of 6.0 million shares may be issued.", + "Awards granted under the 2008 Plan may be settled in cash and/or shares of the Company\u2019s common stock according to the award\u2019s terms.", + "Stock Options Stock options granted have an exercise price not less than 100% of the current fair market value of a share of the Company\u2019s common stock on the grant date and a maximum term of 10 years.", + "Stock options granted generally vest ratably over three to four years.", + "Vesting of option awards may be accelerated based on age and length of service.", + "Stock options granted are expensed on a straight-line basis over the option vesting period based on the estimated fair value of the awards on the date of grant using a Black-Scholes option-pricing model.", + "Net revenues increased $3 million compared to the prior year.", + "Net investment loss for the year ended December 31, 2009 reflects the transfer priced interest income allocated to the Annuities and Protection segments for maintaining excess liquidity and the period-over-period decline in short-term interest rates.", + "The increase in other revenues compared to the prior year was due to a $58 million gain on the repurchase of $135 million of our junior notes in 2009 compared to a gain of $19 million on the repurchase of $43 million of our junior notes in 2008.", + "Total expenses decreased $96 million, or 26%, to $267 million for the year ended December 31, 2009.", + "Interest and debt expense for the year ended December 31, 2009 included a $13 million expense related to the early retirement of $450 million of our 5.35% senior notes due 2010.", + "General and administrative expense decreased $116 million, or 46%, compared to the prior year due to money market support costs incurred in 2008, including $77 million related to the mark-to-market of Lehman Brothers securities that we purchased from various 2a-7 money market mutual funds managed by our subsidiary, RiverSource Investments, LLC and $36 million for the cost of guaranteeing specific client holdings in an unaffiliated money market mutual fund, and $60 million in restructuring charges in 2008, partially offset by higher performance compensation accruals and legal expenses in 2009.", + "Consolidated Results of Operations Year Ended December 31, 2008 Compared to Year Ended December 31, 2007 The following table presents our consolidated results of operations:", + "| |Years Ended December 31,|||\n| |2008|2007|Change|\n| |(in millions, except percentages)|\n| Revenues|||||\n|Management and financial advice fees|$2,899|$3,238|$-339|-10%|\n|Distribution fees|1,565|1,762|-197|-11|\n|Net investment income|817|2,014|-1,197|-59|\n|Premiums|1,048|1,017|31|3|\n|Other revenues|766|724|42|6|\n|Total revenues|7,095|8,755|-1,660|-19|\n|Banking and deposit interest expense|179|249|-70|-28|\n|Total net revenues|6,916|8,506|-1,590|-19|\n| Expenses|||||\n|Distribution expenses|1,912|2,011|-99|-5|\n|Interest credited to fixed accounts|790|847|-57|-7|\n|Benefits, claims, losses and settlement expenses|1,125|1,179|-54|-5|\n|Amortization of deferred acquisition costs|933|551|382|69|\n|Interest and debt expense|109|112|-3|-3|\n|Separation costs|\u2014|236|-236|-100|\n|General and administrative expense|2,472|2,562|-90|-4|\n|Total expenses|7,341|7,498|-157|-2|\n|Pretax income (loss)|-425|1,008|-1,433|NM|\n|Income tax provision (benefit)|-333|202|-535|NM|\n|Net income (loss)|-92|806|-898|NM|\n|Less: Net loss attributable to noncontrolling interests|-54|-8|-46|NM|\n|Net income (loss) attributable to Ameriprise Financial|$-38|$814|$-852|NM|\n", + "MASCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 62 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:" + ], + "question_id": "simplong-test-317", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the sum of Fourth Quarter without those Fourth Quarter smaller than 0, in 2012? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Supplementary Information on Oil and Gas Producing Activities (Unaudited) CONTINUED Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves", + "|(In millions)|2006|2005|2004|\n|Sales and transfers of oil and gas produced, net of production, transportation and administrative costs|$-5,312|$-3,754|$-2,689|\n|Net changes in prices and production, transportation and administrative costs related to future production|-1,342|6,648|771|\n|Extensions, discoveries and improved recovery, less related costs|1,290|700|1,349|\n|Development costs incurred during the period|1,251|1,030|609|\n|Changes in estimated future development costs|-527|-552|-628|\n|Revisions of previous quantity estimates|1,319|820|948|\n|Net changes in purchases and sales of minerals in place|30|4,557|33|\n|Accretion of discount|1,882|1,124|757|\n|Net change in income taxes|-660|-6,694|-627|\n|Timing and other|-14|307|97|\n|Net change for the year|-2,083|4,186|620|\n|Beginning of year|10,601|6,415|5,795|\n|End of year|$8,518|$10,601|$6,415|\n|Net change for the year from discontinued operations|$-216|$162|$-152|\n", + "Information Available on the Company\u2019s Web Site Additional information regarding Snap-on and its products is available on the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on is not including the information contained on its web site as a part of, or incorporating it by reference into, this Annual Report on Form 10-K. Snap-on\u2019s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Definitive Proxy Statements on Schedule 14A and Current Reports on Form 8-K, as well as any amendments to those reports, are made available to the public at no charge, other than an investor\u2019s own internet access charges, through the Investor Information section of the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on makes such material available on its web site as soon as reasonably practicable after it electronically files such material with, or furnishes it to, the Securities and Exchange Commission (\u201cSEC\u201d).", + "Copies of any materials the company files with the SEC can also be obtained free of charge through the SEC\u2019s web site at www.", + "sec.", + "gov.", + "The SEC\u2019s Public Reference Room can be contacted at 100 F Street, N. E. , Washington, D. C. 20549, or by calling 1-800-732-0330.", + "In addition, Snap-on\u2019s (i) charters for the Audit, Corporate Governance and Nominating, and Organization and Executive Compensation Committees of the company\u2019s Board of Directors; (ii) Corporate Governance Guidelines; and (iii) Code of Business Conduct and Ethics are available on Snap-on\u2019s web site.", + "Snap-on will also post any amendments to these documents, or information about any waivers granted to directors or executive officers with respect to the Code of Business Conduct and Ethics, on the company\u2019s web site at www.", + "snapon.", + "com.", + "Products and Services Tools, Diagnostics and Repair Information, and Equipment Snap-on offers a broad line of products and complementary services that are grouped into three product categories: (i) tools; (ii) diagnostics and repair information; and (iii) equipment.", + "Further product line information is not presented as it is not practicable to do so.", + "The following table shows the consolidated net sales of these product categories for the last three years:", + "||Net Sales|\n|(Amounts in millions)|2012|2011|2010|\n|Product Category:||||\n|Tools|$1,729.4|$1,667.3|$1,545.1|\n|Diagnostics and repair information|619.8|613.7|563.3|\n|Equipment|588.7|573.2|510.8|\n||$2,937.9|$2,854.2|$2,619.2|\n", + "The tools product category includes hand tools, power tools and tool storage products.", + "Hand tools include wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments and other similar products.", + "Power tools include cordless (battery), pneumatic (air), hydraulic, and corded (electric) tools, such as impact wrenches, ratchets, chisels, drills, sanders, polishers and similar products.", + "Tool storage includes tool chests, roll cabinets, tool control systems and other similar products.", + "The majority of products are manufactured by Snap-on and, in completing the product offering, other items are purchased from external manufacturers.", + "The diagnostics and repair information product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, OEM purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops manage and track performance.", + "The equipment product category includes solutions for the diagnosis and service of vehicles and industrial equipment.", + "Products include wheel alignment equipment, wheel balancers, tire changers, vehicle lifts, test lane systems, collision repair equipment, air conditioning service equipment, brake service equipment, fluid exchange equipment, transmission troubleshooting equipment, safety testing equipment, battery chargers and hoists.", + "Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after sales support for its customers, primarily focusing on the technologies and the application of specific products developed and marketed by Snap-on.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Segment gross profit of $105.0 million in the fourth quarter of 2012 decreased $1.4 million from 2011 levels.", + "Gross margin of 38.1% in the quarter improved 210 basis points from 36.0% last year primarily due to lower restructuring costs as well as savings from ongoing RCI initiatives, particularly in Europe.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $2.5 million of restructuring costs.", + "Segment operating expenses of $73.1 million in the fourth quarter of 2012 decreased $0.3 million from 2011 levels.", + "The operating expense margin of 26.5% in the quarter increased 170 basis points from 24.8% last year primarily as a result of the lower sales.", + "As a result of these factors, segment operating earnings of $31.9 million in the fourth quarter of 2012, including $1.2 million of favorable foreign currency effects, decreased $1.1 million, or 3.3%, from 2011 levels.", + "Operating margin for the Commercial & Industrial Group of 11.6% in the fourth quarter of 2012 improved 40 basis points from 11.2% last year.", + "Snap-on Tools Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|Segment net sales|$321.6|100.0%|$292.8|100.0%|$28.8|9.8%|\n|Cost of goods sold|-185.8|-57.8%|-168.9|-57.7%|-16.9|-10.0%|\n|Gross profit|135.8|42.2%|123.9|42.3%|11.9|9.6%|\n|Operating expenses|-90.2|-28.0%|-84.3|-28.8%|-5.9|-7.0%|\n|Segment operating earnings|$45.6|14.2%|$39.6|13.5%|$6.0|15.2%|\n", + "Segment net sales of $321.6 million in the fourth quarter of 2012 increased $28.8 million, or 9.8%, from 2011 levels.", + "Excluding $1.4 million of favorable foreign currency translation, organic sales increased $27.4 million, or 9.3%, reflecting high single-digit sales increases across both the company\u2019s U. S. and international franchise operations.", + "Segment gross profit of $135.8 million in the fourth quarter of 2012 increased $11.9 million from 2011 levels.", + "Gross margin of 42.2% in the quarter compared with 42.3% last year.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $0.3 million of restructuring costs.", + "Segment operating expenses of $90.2 million in the fourth quarter of 2012 increased $5.9 million from 2011 levels primarily due to higher volume-related and other expenses.", + "The operating expense margin of 28.0% in the quarter improved 80 basis points from 28.8% last year primarily due to benefits from sales volume leverage.", + "As a result of these factors, segment operating earnings of $45.6 million in the fourth quarter of 2012, including $1.2 million of unfavorable foreign currency effects, increased $6.0 million, or 15.2%, from 2011 levels.", + "Operating margin for the Snap-on Tools Group of 14.2% in the fourth quarter of 2012 increased 70 basis points from 13.5% last year.", + "Repair Systems & Information Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|External net sales|$194.8|80.6%|$193.0|81.6%|$1.8|0.9%|\n|Intersegment net sales|46.8|19.4%|43.5|18.4%|3.3|7.6%|\n|Segment net sales|241.6|100.0%|236.5|100.0%|5.1|2.2%|\n|Cost of goods sold|-130.4|-54.0%|-131.0|-55.4%|0.6|0.5%|\n|Gross profit|111.2|46.0%|105.5|44.6%|5.7|5.4%|\n|Operating expenses|-55.8|-23.1%|-56.3|-23.8%|0.5|0.9%|\n|Segment operating earnings|$55.4|22.9%|$49.2|20.8%|$6.2|12.6%|\n", + "Segment net sales of $241.6 million in the fourth quarter of 2012 increased $5.1 million, or 2.2%, from 2011 levels.", + "Excluding $1.6 million of unfavorable foreign currency translation, organic sales increased $6.7 million, or 2.9%, including low single-digit gains in both sales of diagnostics and repair information products to repair shop owners and managers and sales to OEM dealerships." + ], + "question_id": "simplong-test-318", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the proportion of Residential Mortgage Loans to the total for 1 Year or Less ? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Effective for fiscal year 2010, we implemented new FASB guidance that changes the manner in which EPS is computed.", + "EPS for the prior periods were revised as required by this new guidance.", + "See Note 24 for more information regarding this new accounting guidance.", + "Reclassifications Prior to October 1, 2009, we reported minority interest within mezzanine equity on our Consolidated Statements of Financial Condition and in minority interest in earnings of subsidiaries in our computation of net income.", + "Effective October 1, 2009, we implemented new FASB guidance under which we now present noncontrolling interests as a component of equity.", + "We have reclassified certain amounts previously reported in prior year financial statements to retrospectively reflect noncontrolling interest within equity and to allocate net income (loss) between noncontrolling and our own interests.", + "Certain amounts from prior years have been reclassified to conform to the current year presentation, including a reclassification of $40.3 million and $91.5 million from net cash provided by operating activities to net cash used in investing activities in the Consolidated Statements of Cash Flows, for the years ended September 30, 2009 and 2008, respectively, related to purchases and redemptions of FHLB stock.", + "The effect of all other reclassifications on our previously reported consolidated financial statements is not material.", + "NOTE 2 - CASH AND CASH EQUIVALENTS, ASSETS SEGREGATED PURSUANT TO REGULATIONS AND DEPOSITS WITH CLEARING ORGANIZATIONS: Our cash equivalents include money market funds or highly liquid investments not held for resale with original maturities of 90 days or less.", + "The following are financial instruments that are cash and cash equivalents or other investment balances which are readily convertible into cash as of September 30, 2010 and 2009 (see Note 26 for cash and cash equivalents held by the parent):", + "||September 30,|\n||2010|2009|\n||(in 000's)|\n|Cash and Cash Equivalents:|||\n|Cash in banks-1|$2,939,963|$1,085,202|\n|U. S. Treasury securities-1|-|1,206,914|\n|Money market investments|3,276|13,969|\n|Total cash and cash equivalents|2,943,239|2,306,085|\n|Cash and securities segregated pursuant to federal regulations and other|||\n|segregated assets-2|3,430,715|2,310,261|\n|Deposits with clearing organizations-3|76,488|83,799|\n||$6,450,442|$4,700,145|\n", + "(1) At September 30, 2010 and 2009, cash, other segregated assets and U. S. Treasury securities included additional amounts in order for RJ Bank to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.", + "At September 30, 2010, cash in banks and other segregated assets included an additional $1.8 billion and $1.3 billion, respectively, funded by a combination of an overnight FHLB advance and RJBDP deposits.", + "The borrowing was repaid on October 1, 2010.", + "The RJBDP deposits were redirected to other RJBDP participating banks in early October, 2010.", + "At September 30, 2009, U. S. Treasury securities included an additional $1.2 billion funded by a combination of an overnight FHLB advance and additional RJBDP deposits.", + "The FHLB advance was repaid on October 1, 2009 and the majority of the excess RJBDP deposits were redirected to other RJBDP participating banks in October 2009.", + "(2) Consists of cash and cash equivalents maintained in accordance with Rule 15c3-3 of the Securities Exchange Act of 1934.", + "RJ&A, as a broker-dealer carrying client accounts, is subject to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients.", + "Additionally, RJ Ltd. is required to hold client Registered Retirement Savings Plan funds in trust.", + "The $1.3 billion in other segregated assets related to the point-in-time regulatory balance sheet composition requirements mentioned above was held as collateral by the FHLB for the overnight advance.", + "(3) Consists of deposits of cash and cash equivalents or other short-term securities held by other clearing organizations or exchanges.", + "The following table shows the contractual maturities of RJ Bank\u2019s loan portfolio at September 30, 2010, including contractual principal repayments.", + "This table does not, however, include any estimates of prepayments.", + "These prepayments could shorten the average loan lives and cause the actual timing of the loan repayments to differ significantly from those shown in the following table:", + "||Due in|\n||1 Year or Less|1 Year \u2013 5 Years|>5 Years|Total|\n||(in 000\u2019s)|\n|Commercial Loans|$49,324|$515,691|$88,017|$653,032|\n|Real Estate Construction Loans-1|17,579|47,933|-|65,512|\n|Commercial Real Estate Loans-1|472,728|2,583,439|464,216|3,520,383|\n|Residential Mortgage Loans|1,169|12,921|2,004,065|2,018,155|\n|Consumer Loans|23,461|454|25|23,940|\n|Total Loans|$564,261|$3,160,438|$2,556,323|$6,281,022|\n", + "(1) Of the sum of these amounts, $1 billion is secured by non-owner occupied commercial real estate properties or their repayment is dependent upon the operation or sale of commercial real estate properties as of September 30, 2010.", + "The remainder is wholly or partially secured by real estate, the majority of which is also secured by other assets of the borrower.", + "The following table presents the comparative data for nonperforming loans and total nonperforming assets:", + "||As of September 30,|\n||2010|2009|2008|2007|2006|\n||($ in 000\u2019s)|\n|Nonaccrual Loans:||||||\n|Corporate|$67,071|$73,961|$37,462|$-|$-|\n|Residential/Consumer-1|80,825|55,097|14,571|1,391|2,091|\n|Total|147,896|129,058|52,033|1,391|2,091|\n|Accruing Loans Which are 90 Days Past Due:||||||\n|Corporate|830|12,461|-|682|-|\n|Residential/Consumer|5,257|16,863|6,131|1,992|-|\n|Total|6,087|29,324|6,131|2,674|-|\n|Total Nonperforming Loans|153,983|158,382|58,164|4,065|2,091|\n|Real Estate Owned and Other Repossessed Assets, Net:||||||\n|Corporate|19,486|4,646|1,928|-|-|\n|Residential/Consumer|8,439|4,045|2,216|1,653|-|\n|Total|27,925|8,691|4,144|1,653|-|\n|Total Nonperforming Assets, Net|$181,908|$167,073|$62,308|$5,718|$2,091|\n|Total Nonperforming Assets as a % of Total Loans, Net and Other Real Estate Owned, Net|2.97%|2.53%|0.88%|0.12%|0.09%|\n", + "(1) Of the total residential/consumer nonaccrual loans, there are residential mortgage loans totaling $68.7 million and $43.8 million, as of September 30, 2010 and 2009, respectively, for which a charge-off had previously been recorded.", + "The table of nonperforming assets above excludes $8.2 million and $1.3 million of residential troubled debt restructurings, which were performing in accordance with the restructured terms as of September 30, 2010 and 2009, respectively.", + "There were no loans modified in troubled debt restructurings, which were excluded from the table above for the years ended September 30, 2008, 2007 and 2006.", + "As of September 30, 2010 RJ Bank had commitments to lend an additional $623,000 on one nonperforming corporate loan, which was classified as a troubled debt restructuring.", + "As of September 30, 2009, RJ Bank had commitments to lend an additional $5.2 million on nonperforming loans which were not classified as troubled debt restructurings.", + "The gross interest income related to the nonperforming loans reflected in the previous table, which would have been recorded had these loans been current in accordance with their original terms, totaled $7.9 million, $7.8 million, and $1.4 million for the years ended September 30, 2010, 2009 and 2008, respectively.", + "The interest income recognized on nonperforming loans was $1.3 million, $607,000 and $231,000 for the years ended September 30, 2010, 2009 and 2008, respectively", + "We enter into security transactions on behalf of our clients and other brokers involving forward settlement.", + "Forward contracts provide for the delayed delivery of the underlying instrument.", + "The contractual amounts related to these financial instruments reflect the volume and activity and do not reflect the amounts at risk.", + "The gain or loss on these transactions is recognized on a trade date basis.", + "Transactions involving future settlement give rise to market risk, which represents the potential loss that can be caused by a change in the market value of a particular financial instrument.", + "Our exposure to market risk is determined by a number of factors, including the duration, size, composition and diversification of positions held, the absolute and relative levels of interest rates, and market volatility.", + "The credit risk for these transactions is limited to the unrealized market valuation gains recorded in the Consolidated Statements of Financial Condition.", + "The majority of our transactions, and consequently, the concentration of our credit exposure is with clients, broker\u0002dealers and other financial institutions in the U. S. These activities primarily involve collateralized arrangements and may result in credit exposure in the event that the counterparty fails to meet its contractual obligations.", + "Our exposure to credit risk can be directly impacted by volatile securities markets, which may impair the ability of counterparties to satisfy their contractual obligations.", + "We seek to control our credit risk through a variety of reporting and control procedures, including establishing credit limits based upon a review of the counterparties' financial condition and credit ratings.", + "We monitor collateral levels on a daily basis for compliance with regulatory and internal guidelines and request changes in collateral levels as appropriate.", + "RJ Ltd. is subject to foreign exchange risk primarily due to financial instruments held in U. S. dollars that may be impacted by fluctuation in foreign exchange rates.", + "In order to mitigate this risk, RJ Ltd. enters into forward foreign exchange contracts.", + "The fair value of these contracts is not significant.", + "As of September 30, 2010, forward contracts outstanding to buy and sell U. S. dollars totaled CDN $10.9 million and CDN $6.2 million, respectively.", + "RJ Bank has outstanding at any time, a significant number of commitments to extend credit and other credit-related off\u0002balance sheet financial instruments such as standby letters of credit and loan purchases, which then extend over varying periods of time.", + "These arrangements are subject to strict credit control assessments and each customer\u2019s credit worthiness is evaluated on a case-by-case basis.", + "Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and RJ Bank\u2019s exposure is limited to the replacement value of those commitments.", + "A summary of commitments to extend credit and other credit-related off-balance sheet financial instruments outstanding at September 30, 2010 and 2009, is as follows:", + "||September 30,|\n||2010|2009|\n||(in 000's)|\n|Standby Letters of Credit-1|$235,729|$242,486|\n|Open End Consumer Lines of Credit|32,328|35,369|\n|Commercial Lines of Credit|1,660,204|1,479,260|\n|Unfunded Loan Commitments - Variable Rate-1|120,363|155,518|\n|Unfunded Loan Commitments \u2013 Fixed Rate|2,824|7,553|\n", + "(1) Generally, these standby letters of credit are underwritten as part of a larger corporate credit relationship.", + "Because many lending commitments expire without being funded in whole or part, the contract amounts are not estimates of our actual future credit exposure or future liquidity requirements.", + "We maintain a reserve to provide for potential losses related to the unfunded lending commitments.", + "See Note 7 for further discussion of this reserve for unfunded lending commitments.", + "Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted.", + "The credit risk amounts are equal to the contractual amounts, assuming that the amounts are fully advanced and that the collateral or other security is of no value.", + "RJ Bank uses the same credit approval and monitoring process in extending loan commitments and other credit-related off-balance sheet instruments as it does in making loans.", + "Borrowings and Financing Arrangements The following table presents our domestic financing arrangements with third-party lenders as of September 30, 2010:", + "||Committed Unsecured|CommittedSecured|Uncommitted Secured|Uncommitted Unsecured|Total Financing Arrangements|\n||(in 000\u2019s)|\n|RJ&A (with third-party lenders)|$-|$350,000|$185,100|$250,000|$785,100|\n|RJ Bank|10,000|-|-|-|10,000|\n|Total|$10,000|$350,000|$185,100|$250,000|$795,100|\n", + "As of September 30, 2010, we had four 364-day committed and several uncommitted financing arrangements denominated in U. S. dollars and one uncommitted line of credit denominated in Canadian dollars (\u201cCDN\u201d).", + "At September 30, 2010, the aggregate domestic facilities were $795.1 million and the Canadian line of credit maintained by RJ Ltd. was CDN $20 million.", + "Outstanding borrowings on the domestic uncommitted facilities were $112 million as of September 30, 2010.", + "Lenders are under no obligation to lend to us under uncommitted credit facilities.", + "Committed facilities provided by commercial banks in the name of RJ&A include a $100 million bilateral repurchase agreement, a $150 million tri-party repurchase agreement and a $100 million secured line of credit.", + "The required market value of the collateral associated with these facilities ranges from 102% to 133%.", + "The interest rates for all of our U. S. and Canadian financing facilities are variable and are based on the Fed Funds rate, LIBOR, or Canadian prime rate, as applicable.", + "Unlike committed credit facilities, uncommitted lenders are not subject to any formula determining the interest rates they may charge on a loan.", + "For the fiscal year ended September 30, 2010, interest rates on the utilized financing facilities ranged from 0.39% to 2.75% (on a 360 days per year basis).", + "For the fiscal year ended September 30, 2009, those interest rates ranged from 0.58% to 5.00%.", + "RJ Bank had a $10 million committed unsecured line of credit of which none was outstanding as of September 30, 2010.", + "This unsecured line of credit is provided by a commercial bank for the sole purpose of purchasing Fed Funds to meet short\u0002term and unexpected funding needs.", + "Subsequent to September 30, 2010, RJ Bank elected to cancel this line of credit.", + "RJ Bank had $2.45 billion in FHLB advances outstanding at September 30, 2010, comprised of several short-term fixed\u0002rate advances and one overnight advance.", + "The overnight advance of $2.4 billion was made to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.", + "Due to this overnight advance, RJ Bank had less than $100,000 in immediate credit available from the FHLB on September 30, 2010 and total available credit of 40% of total assets, with the pledge of additional collateral to the FHLB.", + "Following the repayment of the $2.4 billion overnight advance on October 1, 2010, RJ Bank had $1.1 billion in immediate credit available from the FHLB and total available credit of 40% of total assets with the pledging of additional collateral to the FHLB.", + "See Note 12 of the Notes to Consolidated Financial Statements for more information.", + "At September 30, 2010, all of the FHLB advances outstanding were secured by a blanket lien on RJ Bank\u2019s residential loan portfolio, cash deposits, and agency Mortgage-Backed Securities (\u201cMBS\u201d) available for sale.", + "RJ Bank is eligible to participate in the FRB\u2019s discount-window program, however, RJ Bank does not view borrowings from the FRB as a primary means of funding.", + "The credit available in this program is subject to periodic review and may be terminated or reduced at the discretion of the FRB.", + "We maintain three unsecured settlement lines of credit available to our Argentine joint venture in the aggregate amount of $13.5 million.", + "Of the aggregate amount, one settlement line for $9 million is guaranteed by RJF.", + "There were no borrowings outstanding on any of these lines of credit as of September 30, 2010.", + "For the fiscal year ended September 30, 2010, the interest rate associated with these lines of credit ranged from 4.25% to 17% (on a 360 days per year basis).", + "For the year ended September 30, 2009, those interest rates ranged from 4% to 18%.", + "depending upon our senior unsecured debt ratings.", + "The facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio.", + "At December 31, 2006, we were in compliance with these covenants.", + "The facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral.", + "In addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in March 2007 and $75 million expiring in May 2007.", + "Neither of these lines of credit were used as of December 31, 2006.", + "We must have equivalent credit available under our five-year facilities to draw on these $75 million lines.", + "Dividend Restrictions \u2013 We are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above.", + "The amount of retained earnings available for dividends was $7.8 billion and $6.2 billion at December 31, 2006 and 2005, respectively.", + "We do not expect that these restrictions will have a material adverse effect on our consolidated financial condition, results of operations, or liquidity.", + "We declared dividends of $323 million in 2006 and $316 million in 2005.", + "Shelf Registration Statement \u2013 Under a current shelf registration statement, we may issue any combination of debt securities, preferred stock, common stock, or warrants for debt securities or preferred stock in one or more offerings.", + "At December 31, 2006, we had $500 million remaining for issuance under the current shelf registration statement.", + "We have no immediate plans to issue any securities; however, we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration, and, therefore, we may issue debt securities at any time.6.", + "Leases We lease certain locomotives, freight cars, and other property.", + "Future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2006 were as follows:", + "|Millions of Dollars|OperatingLeases|Capital Leases|\n|2007|$624|$180|\n|2008|546|173|\n|2009|498|168|\n|2010|456|148|\n|2011|419|157|\n|Later Years|2,914|1,090|\n|Total minimum lease payments|$5,457|$1,916|\n|Amount representing interest|N/A|-680|\n|Present value of minimum lease payments|N/A|$1,236|\n", + "Rent expense for operating leases with terms exceeding one month was $798 million in 2006, $728 million in 2005, and $651 million in 2004.", + "When cash rental payments are not made on a straight-line basis, we recognize variable rental expense on a straight-line basis over the lease term.", + "Contingent rentals and sub-rentals are not significant." + ], + "question_id": "simplong-test-319", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in revenues for investments in 50% ( 50 % ) or less owned investments accounted for using the equity method between 2001 and 2002?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "affiliated company.", + "The loss recorded on the sale was approximately $14 million and is recorded as a loss on sale of assets and asset impairment expenses in the accompanying consolidated statements of operations.", + "In the second quarter of 2002, the Company recorded an impairment charge of approximately $40 million, after income taxes, on an equity method investment in a telecommunications company in Latin America held by EDC.", + "The impairment charge resulted from sustained poor operating performance coupled with recent funding problems at the invested company.", + "During 2001, the Company lost operational control of Central Electricity Supply Corporation (\u2018\u2018CESCO\u2019\u2019), a distribution company located in the state of Orissa, India.", + "CESCO is accounted for as a cost method investment.", + "In May 2000, the Company completed the acquisition of 100% of Tractebel Power Ltd (\u2018\u2018TPL\u2019\u2019) for approximately $67 million and assumed liabilities of approximately $200 million.", + "TPL owned 46% of Nigen.", + "The Company also acquired an additional 6% interest in Nigen from minority stockholders during the year ended December 31, 2000 through the issuance of approximately 99,000 common shares of AES stock valued at approximately $4.9 million.", + "With the completion of these transactions, the Company owns approximately 98% of Nigen\u2019s common stock and began consolidating its financial results beginning May 12, 2000.", + "Approximately $100 million of the purchase price was allocated to excess of costs over net assets acquired and was amortized through January 1, 2002 at which time the Company adopted SFAS No.142 and ceased amortization of goodwill.", + "In August 2000, a subsidiary of the Company acquired a 49% interest in Songas Limited (\u2018\u2018Songas\u2019\u2019) for approximately $40 million.", + "The Company acquired an additional 16.79% of Songas for approximately $12.5 million, and the Company began consolidating this entity in 2002.", + "Songas owns the Songo Songo Gas-to-Electricity Project in Tanzania.", + "In December 2002, the Company signed a Sales Purchase Agreement to sell Songas.", + "The sale is expected to close in early 2003.", + "See Note 4 for further discussion of the transaction.", + "The following table presents summarized comparative financial information (in millions) for the Company\u2019s investments in 50% or less owned investments accounted for using the equity method.", + "|AS OF AND FOR THE YEARS ENDED DECEMBER 31,|2002|2001|2000|\n|Revenues|$2,832|$6,147|$6,241|\n|Operating Income|695|1,717|1,989|\n|Net Income|229|650|859|\n|Current Assets|1,097|3,700|2,423|\n|Noncurrent Assets|6,751|14,942|13,080|\n|Current Liabilities|1,418|3,510|3,370|\n|Noncurrent Liabilities|3,349|8,297|5,927|\n|Stockholder's Equity|3,081|6,835|6,206|\n", + "In 2002, 2001 and 2000, the results of operations and the financial position of CEMIG were negatively impacted by the devaluation of the Brazilian Real and the impairment charge recorded in 2002.", + "The Brazilian Real devalued 32%, 19% and 8% for the years ended December 31, 2002, 2001 and 2000, respectively.", + "The Company recorded $83 million, $210 million, and $64 million of pre-tax non-cash foreign currency transaction losses on its investments in Brazilian equity method affiliates during 2002, 2001 and 2000, respectively.", + "Consumers purchases the balance of its required gas supply under incremental firm transportation contracts, firm city gate contracts and, as needed, interruptible transportation contracts.", + "The amount of interruptible transportation service and its use vary primarily with the price for such service and the availability and price of the spot supplies being purchased and transported.", + "Consumers\u2019 use of interruptible transportation is generally in off-peak summer months and after Consumers has fully utilized the services under the firm transportation agreements.", + "Enterprises Enterprises, through various subsidiaries and certain equity investments, is engaged primarily in domestic independent power production.", + "Enterprises\u2019 operating revenue included in Continuing Operations in our consolidated financial statements was $383 million in 2007, $438 million in 2006, and $693 million in 2005.", + "Operating revenue included in Discontinued Operations in our consolidated financial statements was $235 million in 2007, $684 million in 2006, and $409 million in 2005.", + "In 2007, Enterprises made a significant change in business strategy by exiting the international marketplace and refocusing its business strategy to concentrate on its independent power business in the United States.", + "Independent Power Production CMS Generation was formed in 1986.", + "It invested in and operated non-utility power generation plants in the United States and abroad.", + "The independent power production business segment\u2019s operating revenue included in Continuing Operations in our consolidated financial statements was $41 million in 2007, $103 million in 2006, and $104 million in 2005.", + "Operating revenue included in Discontinued Operations in our consolidated financial statements was $124 million in 2007, $437 million in 2006, and $211 million in 2005.", + "In 2007, Enterprises sold CMS Generation and all of its international assets and power production facilities and transferred its domestic independent power plant operations to its subsidiary, Hydra-Co. For more information on the asset sales, see ITEM 8.", + "CMS ENERGY\u2019S FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA \u2014 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 NOTE 2.", + "ASSET SALES, DISCONTINUED OPERATIONS AND IMPAIRMENT CHARGES \u2014 ASSET SALES.", + "IndependentPowerProductionProperties: AtDecember 31,2007,CMSEnergyhadownershipinterestsin independent power plants totaling 1,199 gross MW or 1,078 net MW (net MW reflects that portion of the gross capacity in relation to CMS Energy\u2019s ownership interest).", + "The following table details CMS Energy\u2019s interest in independent power plants at December 31, 2007:", + "| Location| Fuel Type| Ownership Interest (%)| Gross Capacity (MW)| Percentage of Gross Capacity Under Long-Term Contract (%)|\n|California|Wood|37.8|36|100|\n|Connecticut|Scrap tire|100|31|0|\n|Michigan|Coal|50|70|100|\n|Michigan|Natural gas|100|710|61|\n|Michigan|Natural gas|100|224|0|\n|Michigan|Wood|50|40|100|\n|Michigan|Wood|50|38|100|\n|North Carolina|Wood|50|50|0|\n| Total|||1,199||\n", + "For information on capital expenditures, see ITEM 7.", + "CMS ENERGY\u2019S MANAGEMENT\u2019S DISCUSSION AND ANALYSIS \u2014 CAPITAL RESOURCES AND LIQUIDITY.", + "CMS ENERGY CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) December 24, 2008.", + "The settlement includes a $20 million decrease in depreciation rates and requires that we not request a new gas general rate increase prior to May 1, 2009.", + "OTHER CONTINGENCIES \u2014 INDEMNIFICATIONS Equatorial Guinea Tax Claim: In 2004, we received a request for indemnification from the purchaser of CMS Oil and Gas.", + "The indemnification claim relates to the sale of our oil, gas and methanol projects in Equatorial Guinea and the claim of the government of Equatorial Guinea that we owe $142 million in taxes in connection with that sale.", + "CMS Energy concluded that the government\u2019s tax claim is without merit and the purchaser of CMS Oil and Gas submitted a response to the government rejecting the claim.", + "The government of Equatorial Guinea has indicated that it still intends to pursue its claim.", + "We cannot predict the financial impact or outcome of this matter.", + "Moroccan Tax Claim: In May 2007, we sold our 50 percent interest in Jorf Lasfar.", + "As part of the sale agreement, we agreed to indemnify the purchaser for 50 percent of any tax assessments on Jorf Lasfar attributable to tax years prior to the sale.", + "In December 2007, the Moroccan tax authority concluded its audit of Jorf Lasfar for tax years 2003 through 2005.", + "The audit asserted deficiencies in certain corporate and withholding taxes.", + "In January 2009, we paid $18 million, which was charged against a tax indemnification liability established when we recorded the sale of Jorf Lasfar, and accordingly it did not affect earnings.", + "Marathon Indemnity Claim regarding F. T. Barr Claim: On December 3, 2001, F. T. Barr, an individual with an overriding royalty interest in production from the Alba field, filed a lawsuit in Harris County District Court in Texas against CMS Energy, CMS Oil and Gas and other defendants alleging that his overriding royalty payments related to Alba field production were improperly calculated.", + "CMS Oil and Gas believes that Barr was paid properly on gas sales and that he was not entitled to the additional overriding royalty payment sought.", + "All parties signed a confidential settlement agreement on April 26, 2004.", + "The settlement resolved claims between Barr and the defendants, and the involved CMS Energy entities reserved all defenses to any indemnity claim relating to the settlement.", + "There is disagreement between Marathon and certain current or former CMS Energy entities as to the existence and scope of any indemnity obligations to Marathon in connection with the settlement.", + "Between April 2005 and April 2008, there were no further communications between Marathon and CMS Energy entities regarding this matter.", + "In April 2008, Marathon indicated its intent to pursue the indemnity claim.", + "Present and former CMS Energy entities and Marathon entered into an agreement tolling the statute of limitations on any claim by Marathon under the indemnity.", + "CMS Energy entities dispute Marathon\u2019s claim, and will vigorously oppose it if raised in any legal proceeding.", + "CMS Energy entities also will assert that Marathon has suffered minimal, if any, damages.", + "CMS Energy cannot predict the outcome of this matter.", + "If Marathon\u2019s claim were sustained, it would have a material effect on CMS Energy\u2019s future earnings and cash flow.", + "Guarantees and Indemnifications: FIN 45 requires a guarantor, upon issuance of a guarantee, to recognize a liability for the fair value of the obligation it undertakes in issuing the guarantee.", + "To measure the fair value of a guarantee liability, we recognize a liability for any premium received or receivable in exchange for the guarantee.", + "For a guarantee issued as part of a larger transaction, such as in association with an asset sale or executory contract, we recognize a liability for any premium that we would have received had we issued the guarantee as a single item.", + "The following table describes our guarantees at December 31, 2008:", + "| Guarantee Description| Issue Date| Expiration Date| Maximum Obligation| FIN 45 Carrying Amount|\n|| In Millions|\n|Indemnifications from asset sales and other agreements|Various|Indefinite|$1,445(a)|$84(b)|\n|Surety bonds and other indemnifications|Various|Indefinite|35|1|\n|Guarantees and put options|Various|Various through September 2027|89(c)|1|\n", + "ratings, and general information on market movements for investment grade state and municipal securities normally considered by market participants when pricing such debt securities.", + "Foreign Corporate Bonds: Foreign corporate debt securities were valued based on quoted market prices, when available, or on yields available on comparable securities of issuers with similar credit ratings.", + "Common Stocks: Common stocks in the OPEB Plan consist of equity securities with low transaction costs that were actively managed and tracked by the S&P 500 Index.", + "These securities were valued at their quoted closing prices.", + "Mutual Funds: Mutual funds represent shares in registered investment companies that are priced based on the daily quoted NAVs that are publicly available and are the basis for transactions to buy or sell shares in the funds.", + "Pooled Funds: Pooled funds include both common and collective trust funds as well as special funds that contain only employee benefit plan assets from two or more unrelated benefit plans.", + "Presented in the following table are the investment components of these funds:" + ], + "question_id": "simplong-test-320", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Reinsurance assets of 2018 As Reported, and Cash provided by operating activities of 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Private equity fund investments included above are not redeemable, because distributions from the funds will be received when underlying investments of the funds are liquidated.", + "Private equity funds are generally expected to have 10-year lives at their inception, but these lives may be extended at the fund manager\u2019s discretion, typically in one or two-year increments.", + "At December 31, 2018, assuming average original expected lives of 10 years for the funds, 14 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 43 percent between four and six years and 43 percent between seven and 10 years.", + "The hedge fund investments included above, which are carried at fair value, are generally redeemable monthly (35 percent), quarterly (32 percent), semi-annually (9 percent) and annually (24 percent), with redemption notices ranging from one day to 180 days.", + "At December 31, 2018, investments representing approximately 51 percent of the total fair value of these hedge fund investments had partial contractual redemption restrictions.", + "These partial redemption restrictions are generally related to one or more investments held in the hedge funds that the fund manager deemed to be illiquid.", + "The majority of these contractual restrictions, which may have been put in place at the fund\u2019s inception or thereafter, have pre-defined end dates.", + "The majority of these restrictions are generally expected to be lifted by the end of 2019.", + "FAIR VALUE OPTION Under the fair value option, we may elect to measure at fair value financial assets and financial liabilities that are not otherwise required to be carried at fair value.", + "Subsequent changes in fair value for designated items are reported in earnings.", + "We elect the fair value option for certain hybrid securities given the complexity of bifurcating the economic components associated with the embedded derivatives.", + "For additional information related to embedded derivatives refer to Note 11 herein.", + "Additionally, we elect the fair value option for certain alternative investments when such investments are eligible for this election.", + "We believe this measurement basis is consistent with the applicable accounting guidance used by the respective investment company funds themselves.", + "For additional information on securities and other invested assets for which we have elected the fair value option refer to Note 6 herein.", + "The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option:", + "| Years Ended December 31,|Gain (Loss)|\n|(in millions)|2018|2017|2016|\n| Assets:||||\n|Bond and equity securities|$343|$1,646|$447|\n|Alternative investments(a)|213|509|28|\n|Other, including Short-term investments|-|1|-|\n| Liabilities:||||\n|Long-term debt(b)|-1|-49|-9|\n|Other liabilities|-|-2|-|\n| Total gain|$555|$2,105|$466|\n", + "(a) Includes certain hedge funds, private equity funds and other investment partnerships.", + "(b) Includes GIAs, notes, bonds and mortgages payable.", + "Interest income and dividend income on assets measured under the fair value option are recognized and included in Net investment income in the Consolidated Statements of Income with the exception of activity within AIG\u2019s Other Operations category, which is included in Other income.", + "Interest expense on liabilities measured under the fair value option is reported in Other Income in the Consolidated Statements of Income.", + "For additional information about our policies for recognition, measurement, and disclosure of interest and dividend income see Note 6 herein.", + "8.", + "Reinsurance In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses.", + "In addition, our general insurance subsidiaries assume reinsurance from other insurance companies.", + "We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased.", + "This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR.", + "Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid.", + "Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized.", + "We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk.", + "The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment.", + "The allowance for doubtful accounts on reinsurance assets was $140 million and $187 million at December 31, 2018 and 2017, respectively.", + "Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.", + "The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:", + "| At December 31,|2018 As Reported||2017 As Reported||\n|(in millions)|Net of Reinsurance|Net of Reinsurance|\n|Liability for unpaid losses and loss adjustment expenses|$-83,639|$-51,949|$-78,393|$-51,685|\n|Future policy benefits for life and accident and health insurance contracts|-44,935|-43,936|-45,432|-44,457|\n|Reserve for unearned premiums|-19,248|-16,300|-19,030|-15,890|\n|Reinsurance assets(a)|35,637||30,823||\n", + "(a) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.", + "SHORT-DURATION REINSURANCE Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks.", + "Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts.", + "Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received.", + "Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsurers.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the reinsurance contracts and the portion of premiums relating to the unexpired terms of coverage is included in the reserve for unearned premiums.", + "Reinsurance premiums for assumed business are estimated based on information received from brokers, ceding companies and reinsureds.", + "Any subsequent differences arising on such estimates are recorded in the periods in which they are determined.", + "For both ceded and assumed reinsurance, risk transfer requirements must be met for reinsurance accounting to apply.", + "If risk transfer requirements are not met, the contract is accounted for as a deposit, resulting in the recognition of cash flows under the contract through a deposit asset or liability and not as revenue or expense.", + "To meet risk transfer requirements, a reinsurance contract must include both insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity.", + "Similar risk transfer criteria are used to determine whether directly written insurance contracts should be accounted for as insurance or as a deposit.", + "The following table presents the weighted average assumptions used to determine the net periodic benefit costs:", + "||Pension|Postretirement||\n| |U.S. Plans|Non-U.S. Plans *|U.S. Plans|Non-U.S. Plans*||\n| For the Year Ended December 31, 2018||||||\n|Discount rate|3.61%|1.60%|3.53%| 3.59| %|\n|Rate of compensation increase|N/A|2.27%|N/A| 3.00| %|\n|Expected return on assets|6.75%|2.78%|N/A| N/A| |\n| For the Year Ended December 31, 2017||||||\n|Discount rate|4.15%|1.50%|4.01%|3.95%||\n|Rate of compensation increase|N/A|2.50%|N/A|3.38%||\n|Expected return on assets|7.00%|2.92%|N/A|N/A||\n| For the Year Ended December 31, 2016||||||\n|Discount rate|4.33%|2.17%|4.21%|4.09%||\n|Rate of compensation increase|N/A%|2.64%|N/A|3.43%||\n|Expected return on assets|7.00%|3.28%|N/A|N/A||\n", + "* The non-U.", + "S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits.", + "Discount Rate Methodology The projected benefit cash flows under the U. S. AIG Retirement Plan were discounted using the spot rates derived from the Mercer U. S. Pension Discount Yield Curve at December 31, 2018 and 2017, which resulted in a single discount rate that would produce the same liability at the respective measurement dates.", + "The discount rates were 4.22 percent at December 31, 2018 and 3.61 percent at December 31, 2017.", + "The methodology was consistently applied for the respective years in determining the discount rates for the other U. S. pension plans.", + "In general, the discount rates for the non-U.", + "S. plans were developed using a similar methodology to the U. S. AIG Retirement plan, by using country-specific Mercer Yield Curves.", + "The projected benefit obligation for AIG\u2019s Japan pension plans represents approximately 52 percent and 50 percent of the total projected benefit obligations for our non-U.", + "S. pension plans at December 31, 2018 and 2017, respectively.", + "The weighted average discount rate of 0.72 percent and 0.66 percent at December 31, 2018 and 2017, respectively, was selected by reference to the Mercer Yield Curve for Japan.", + "Plan Assets The investment strategy with respect to assets relating to our U. S. and non-U.", + "S. pension plans is designed to achieve investment returns that will provide for the benefit obligations of the plans over the long term, limit the risk of short-term funding shortfalls and maintain liquidity sufficient to address cash needs.", + "Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including, but not limited to, volatility relative to the benefit obligations, liquidity, diversification and concentration, and incorporates the risk/return profile applicable to each asset class.", + "There were no shares of AIG Common Stock included in the U. S. and non-U.", + "S. pension plans assets at December 31, 2018 or 2017.", + "Financial Assurance We must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs, and related to our performance under certain collection, landfill and transfer station contracts.", + "We satisfy these financial assurance requirements by providing surety bonds, letters of credit, or insurance policies (Financial Assurance Instruments), or trust deposits, which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets.", + "The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations.", + "The financial assurance requirements for capping, closure and post-closure costs may be associated with a portion of the landfill or the entire landfill.", + "Generally, states require a third-party engineering specialist to determine the estimated capping, closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill.", + "The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U. S. GAAP.", + "The amount of the financial assurance requirements related to contract performance varies by contract.", + "Additionally, we must provide financial assurance for our insurance program and collateral for certain performance obligations.", + "We do not expect a material increase in financial assurance requirements during 2016, although the mix of Financial Assurance Instruments may change.", + "These Financial Assurance Instruments are issued in the normal course of business and are not considered indebtedness.", + "Because we currently have no liability for the Financial Assurance Instruments, they are not reflected in our consolidated balance sheets; however, we record capping, closure and post-closure liabilities and insurance liabilities as they are incurred.", + "Off-Balance Sheet Arrangements We have no off-balance sheet debt or similar obligations, other than operating leases and financial assurances, which are not classified as debt.", + "We have no transactions or obligations with related parties that are not disclosed, consolidated into or reflected in our reported financial position or results of operations.", + "We have not guaranteed any third-party debt.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with U. S. GAAP, as 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.", + "The following table calculates our free cash flow for the years ended December 31, 2015, 2014 and 2013 (in millions of dollars):", + "||2015|2014|2013|\n|Cash provided by operating activities|$1,679.7|$1,529.8|$1,548.2|\n|Purchases of property and equipment|-945.6|-862.5|-880.8|\n|Proceeds from sales of property and equipment|21.2|35.7|23.9|\n|Free cash flow|$755.3|$703.0|$691.3|\n", + "For a discussion of the changes in the components of free cash flow, see our discussion regarding Cash Flows Provided By Operating Activities and Cash Flows Used In Investing Activities contained elsewhere in this Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations." + ], + "question_id": "simplong-test-321", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of Client deposits of Average Balance Year Ended December 31, 2013, and U.S. of As of December 31, 2012 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "countries which totaled between .75% and 1% of our consolidated total assets at December 31, 2009 amounted to $1.26 billion (Italy).", + "Aggregate cross-border outstandings to countries which totaled between .75% and 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% and 1% of our consolidated total assets as of December 31, 2007.", + "Capital The management of regulatory and economic capital both involve 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\u2019 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 is expected to be realized over both the short and long term, while protecting our obligations to depositors and creditors and satisfying regulatory capital adequacy requirements.", + "Our capital management process focuses on our risk exposures, our regulatory capital requirements, the evaluations of the major independent credit rating agencies that assign ratings to our public debt and our capital position relative to our peers.", + "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 of 1991.", + "State Street Bank must meet the regulatory capital thresholds for \u201cwell capitalized\u201d in order for the parent company to maintain its status as a financial holding company.", + "Regulatory capital ratios and related regulatory guidelines for State Street and State Street Bank were as follows as of December 31:", + "||REGULATORY GUIDELINES|STATE STREET| STATE STREET BANK|\n||Minimum|Well Capitalized|2009|2008 -2|2009| 2008-2|\n|Regulatory capital ratios:|||||||\n|Tier 1 risk-based capital|4%|6%|17.7%|20.3%|17.3%|19.8%|\n|Total risk-based capital|8|10|19.1|21.6|19.0|21.3|\n|Tier 1 leverage ratio-1|4|5|8.5|7.8|8.2|7.6|\n", + "(1) Regulatory guideline for well capitalized applies only to State Street Bank.", + "(2) Tier 1 and total risk-based capital and tier 1 leverage ratios exclude the impact, where applicable, of the asset-backed commercial paper purchased under the Federal Reserve\u2019s AMLF, as permitted by the AMLF\u2019s terms and conditions.", + "At December 31, 2009, State Street\u2019s and State Street Bank\u2019s tier 1 and total risk-based capital ratios decreased compared to year-end 2008.", + "With respect to State Street, the loss associated with the May 2009 conduit consolidation and the June 2009 redemption of the equity received from the U. S. Treasury in connection with the TARP Capital Purchase Program, partly offset by the aggregate impact of the May 2009 public offering", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) on a number of factors, including, but not limited to, the level of housing prices and the timing of defaults.", + "To the extent that such factors differ significantly from management's current expectations, resulting loss estimates may differ materially from those stated.", + "Excluding other-than-temporary impairment recorded in 2014, management considers the aggregate decline in fair value of the remaining investment securities and the resulting gross unrealized losses as of December 31, 2014 to be temporary and not the result of any material changes in the credit characteristics of the securities.", + "Additional information about these gross unrealized losses is provided in note 3 to the consolidated financial statements included under Item 8 of this Form 10-K. Loans and Leases TABLE 26: U. S. AND NON- U. S. LOANS AND LEASES", + "||As of December 31,|\n|(In millions)|2014|2013|2012|2011|2010|\n|Institutional:||||||\n|U.S.|$14,908|$10,623|$9,645|$7,115|$7,001|\n|Non-U.S.|3,263|2,654|2,251|2,478|4,192|\n|Commercial real estate:||||||\n|U.S.|28|209|411|460|764|\n|Total loans and leases|$18,199|$13,486|$12,307|$10,053|$11,957|\n|Average loans and leases|$15,912|$13,781|$11,610|$12,180|$12,094|\n", + "The increase in loans in the institutional segment as of December 31, 2014 as compared to December 31, 2013 was primarily driven by higher levels of short-duration advances and increased investment in the non-investment-grade lending market through participations in loan syndications, specifically senior secured bank loans.", + "Short-duration advances to our clients included in the institutional segment were $3.54 billion and $2.45 billion as of December 31, 2014 and 2013, respectively.", + "These short-duration advances provide liquidity to fund clients in support of their transaction flows associated with securities settlement activities.", + "As of December 31, 2014 and 2013, our investment in senior secured bank loans totaled approximately $2.07 billion and $724 million, respectively.", + "In addition, we had binding unfunded commitments as of December 31, 2014 totaling $337 million to participate in such syndications.", + "These senior secured bank loans, which we have rated \u201cspeculative\u201d under our internal risk-rating framework (refer to note 4 to the consolidated financial statements included under Item 8 of this Form 10-K), are externally rated \u201cBBB,\u201d \u201cBB\u201d or \u201cB,\u201d with approximately 95% of the loans rated \u201cBB\u201d or \u201cB\u201d as of December 31, 2014, compared to 94% as of December 31, 2013.", + "Our investment strategy involves limiting our investment to larger, more liquid credits underwritten by major global financial institutions, applying our internal credit analysis process to each potential investment, and diversifying our exposure by counterparty and industry segment.", + "However, these loans have significant exposure to credit losses relative to higher-rated loans.", + "As of December 31, 2014, our allowance for loan losses included approximately $26 million related to these senior secured bank loans.", + "As this portfolio grows and becomes more seasoned, our allowance for loan losses related to these loans may increase through additional provisions for credit losses.", + "As of December 31, 2014 and 2013, unearned income deducted from our investment in leveraged lease financing was $109 million and $121 million, respectively, for U. S. leases and $261 million and $298 million, respectively, for non-U.", + "S. leases.", + "The commercial real estate, or CRE, loans are composed of the loans acquired in 2008 pursuant to indemnified repurchase agreements with an affiliate of Lehman as a result of the Lehman Brothers bankruptcy.", + "Additional information about all of our loan-and-lease segments, as well as underlying classes, is provided in note 4 to the consolidated financial statements included under Item 8 of this Form 10-K.", + "The decrease in the CRE loans as of December 31, 2014 compared to December 31, 2013 resulted from one of the loans, acquired in 2008 pursuant to indemnified repurchase agreement with an affiliate of Lehman as a result of the Lehman Brothers bankruptcy being repaid.", + "As of December 31, 2014 no CRE loans were modified in troubled debt restructurings.", + "As of December 31, 2013, we held a CRE loan for approximately $130 million which had previously been modified in a troubled debt restructuring.", + "No loans were modified in troubled debt restructurings in 2014 or 2013.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) Funding Deposits: We provide products and services including custody, accounting, administration, daily pricing, foreign exchange services, cash management, financial asset management, securities finance and investment advisory services.", + "As a provider of these products and services, we generate client deposits, which have generally provided a stable, low-cost source of funds.", + "As a global custodian, clients place deposits with State Street entities in various currencies.", + "We invest these client deposits in a combination of investment securities and short\u0002duration financial instruments whose mix is determined by the characteristics of the deposits.", + "For the past several years, we have experienced higher client deposit inflows toward the end of the quarter or the end of the year.", + "As a result, we believe average client deposit balances are more reflective of ongoing funding than period-end balances.", + "TABLE 33: CLIENT DEPOSITS", + "||December 31,|Average Balance Year Ended December 31,|\n|(In millions)|2014|2013|2014|2013|\n|Client deposits-1|$195,276|$182,268|$167,470|$143,043|\n", + "(1) Balance as of December 31, 2014 excluded term wholesale certificates of deposit, or CDs, of $13.76 billion; average balances for the year ended December 31, 2014 and 2013 excluded average CDs of $6.87 billion and $2.50 billion, respectively.", + "Short-Term Funding: Our corporate commercial paper program, under which we can issue up to $3.0 billion of commercial paper with original maturities of up to 270 days from the date of issuance, had $2.48 billion and $1.82 billion of commercial paper outstanding as of December 31, 2014 and 2013, respectively.", + "Our on-balance sheet liquid assets are also an integral component of our liquidity management strategy.", + "These assets provide liquidity through maturities of the assets, but more importantly, they provide us with the ability to raise funds by pledging the securities as collateral for borrowings or through outright sales.", + "In addition, our access to the global capital markets gives us the ability to source incremental funding at reasonable rates of interest from wholesale investors.", + "As discussed earlier under \u201cAsset Liquidity,\u201d State Street Bank's membership in the FHLB allows for advances of liquidity with varying terms against high-quality collateral.", + "Short-term secured funding also comes in the form of securities lent or sold under agreements to repurchase.", + "These transactions are short-term in nature, generally overnight, and are collateralized by high-quality investment securities.", + "These balances were $8.93 billion and $7.95 billion as of December 31, 2014 and 2013, respectively.", + "State Street Bank currently maintains a line of credit with a financial institution of CAD $800 million, or approximately $690 million as of December 31, 2014, to support its Canadian securities processing operations.", + "The line of credit has no stated termination date and is cancelable by either party with prior notice.", + "As of December 31, 2014, there was no balance outstanding on this line of credit.", + "Long-Term Funding: As of December 31, 2014, State Street Bank had Board authority to issue unsecured senior debt securities from time to time, provided that the aggregate principal amount of such unsecured senior debt outstanding at any one time does not exceed $5 billion.", + "As of December 31, 2014, $4.1 billion was available for issuance pursuant to this authority.", + "As of December 31, 2014, State Street Bank also had Board authority to issue an additional $500 million of subordinated debt.", + "We maintain an effective universal shelf registration that allows for the public offering and sale of debt securities, capital securities, common stock, depositary shares and preferred stock, and warrants to purchase such securities, including any shares into which the preferred stock and depositary shares may be convertible, or any combination thereof.", + "We have issued in the past, and we may issue in the future, securities pursuant to our shelf registration.", + "The issuance of debt or equity securities will depend on future market conditions, funding needs and other factors.", + "Agency Credit Ratings Our ability to maintain consistent access to liquidity is fostered by the maintenance of high investment-grade ratings as measured by the major independent credit rating agencies.", + "Factors essential to maintaining high credit ratings include diverse and stable core earnings; relative market position; strong risk management; strong capital ratios; diverse liquidity sources, including the global capital markets and client deposits; strong liquidity monitoring procedures; and preparedness for current or future regulatory developments.", + "High ratings limit borrowing costs and enhance our liquidity by providing assurance for unsecured funding and depositors, increasing the potential market for our debt and improving our ability to offer products, serve markets, and engage in transactions in which clients value high credit ratings.", + "A downgrade or reduction of our credit ratings could have a material adverse effect on our liquidity by restricting our ability to access the capital" + ], + "question_id": "simplong-test-322", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "If Net income of the Fourth Quarter develops with the same growth rate in 2016, what will it reach in 2017? (in dollars in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The tax rate for fiscal 2019 was below the U. S. statutory tax rate of 21% partially due to lower statutory tax rates applicable to our operations in the foreign jurisdictions from which we earn income and tax incentives such as the foreign derived intangible income deduction and research and development tax credits.", + "These items are partially offset by the global intangible low-tax income (GILTI) tax.", + "The tax rate for f fiscal 2019 includes a $17.2 million tax benefit from a voluntary accounting policy change in the statutory statements of a foreign f subsidiary, an $11.2 million tax benefit from an increase in tax credits upon filing our fiscal 2018 federal income tax return and excess tax benefits from stock-based compensation payments of $28.7 million.", + "Similarly, our tax rate for fiscal 2018 was below our then blended U. S. federal statutory tax rate of 23.4%, primarily due to lower statutory tax rates applicable to our operations in the foreign jurisdictions in which we earn income and $25.6 million of tax benefit related to the release of uncertain tax positions due to laapses in statute of limitations.", + "In addition, our effective tax rate for fiscal f 2018 includes a provisional estimate for f a discrete tax benefit of $637.0 million from remeasuring our U. S. deferred tax assets and liaabilities at the lower 21.0% U. S. federal statutory tax rate and a provisional estimate of $691.0 million for the discrete tax charge from the Tax Legislation\u2019s one-time transition tax associated with our undistributed foreign earnings, which is comprised of a $755.0 million transitional tax less a deferred tax liability of $64.0 million that was recorded in prior years and excess tax benefits from stock-based compensation payments of $26.2 million.", + "Non-U.", + "S. jurisdictions accounted for approximately 75.9% of our total revenues for both fiscal 2019 and fiscal 2018.", + "This revenue generated outside of the U. S. results in a material portion of our pretax income being taxed outside the U. S. In fiscal 2019, this was primarily in Ireland and Singapore, at tax rates ranging from 12.5% to 17% and in fiscal 2018, this was primarily in Bermuda, Ireland and Singapore, at tax rates ranging from 0 to 33.3%.", + "The impact on our provision for income taxes on income earned in fforeign jurisdictions being taxed at rates different than the U. S. federal statutory rate was a benefit of approximately $242.9 million and a fforeign effective tax rate of approximately 21.1% for fiscal 2019 as compared to a benefit of approximately $420.8 million and a fforeign effective tax rate of approximately 5.2% for fiscal 2018.", + "Our foreign effective tax rates for both periods are inclusive of certain non-deductible expenses which can result in tax rates higher than the applicable statutory tax rates.", + "In addition, our effective income tax rate can be impacted each year by amounts for discrete factors or events and acquisition-related accounting adjustments.", + "See Note 12, Income Taxes, of the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K for further discussion.", + "Net Income", + "|||||Change||\n||Fiscal Year|||2019 over 2018|2018 over 2017|\n||2019|2018 -1|2017 -1|$ Change|% Change|$ Change|% Change||\n|Net income|$1,363,011|$1,506,980|$805,379|$-143,969|-10%|$701,601|87%||\n|Net income, as a % of revenue|22.8%|24.2%|15.4%||||||\n|Diluted EPS|$3.65|$4.00|$2.29|$-0.35|-9%|$1.71|75%||\n", + "(1) Balances have been restated to reflect the adoption of ASU 2014-09.", + "See Note 2a, Principles of Consolidation, in the Notes to Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K.", + "The decrease in net income in fiscal 2019 as compared to fiscal 2018 was a result of a $189.0 million decrease in operating income, partially offset by a $25.6 million decrease in provision for income taxes and a $19.4 million decrease in nonoperating expense.", + "The increase in net income in fiscal 2018 as compared to fiscal 2017 was a result of a $736.8 million increase in operating income, partially offset by a $19.0 million increase in provision for income taxes and a $16.3 increase in nonoperating expense.", + "The impact of inflation and foreign currency exchange rate movement on our results of operations during the past three fiscal years has not been significant.", + "Table XII Selected Quarterly Financial Data", + "||2016 Quarters|2015 Quarters|\n|(In millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Income statement|||||||||\n|Net interest income|$10,292|$10,201|$10,118|$10,485|$9,686|$9,900|$9,517|$9,855|\n|Noninterest income|9,698|11,434|11,168|10,305|9,896|11,092|11,523|11,496|\n|Total revenue, net of interest expense|19,990|21,635|21,286|20,790|19,582|20,992|21,040|21,351|\n|Provision for credit losses|774|850|976|997|810|806|780|765|\n|Noninterest expense|13,161|13,481|13,493|14,816|14,010|13,939|13,959|15,826|\n|Income before income taxes|6,055|7,304|6,817|4,977|4,762|6,247|6,301|4,760|\n|Income tax expense|1,359|2,349|2,034|1,505|1,478|1,628|1,736|1,392|\n|Net income|4,696|4,955|4,783|3,472|3,284|4,619|4,565|3,368|\n|Net income applicable to common shareholders|4,335|4,452|4,422|3,015|2,954|4,178|4,235|2,986|\n|Average common shares issued and outstanding|10,170|10,250|10,328|10,370|10,399|10,444|10,488|10,519|\n|Average diluted common shares issued and outstanding|10,959|11,000|11,059|11,100|11,153|11,197|11,238|11,267|\n|Performance ratios|||||||||\n|Return on average assets|0.85%|0.90%|0.88%|0.64%|0.60%|0.84%|0.85%|0.64%|\n|Four quarter trailing return on average assets-1|0.82|0.76|0.74|0.73|0.73|0.74|0.52|0.42|\n|Return on average common shareholders\u2019 equity|7.04|7.27|7.40|5.11|4.99|7.16|7.43|5.37|\n|Return on average tangible common shareholders\u2019 equity-2|9.92|10.28|10.54|7.33|7.19|10.40|10.85|7.91|\n|Return on average shareholders' equity|6.91|7.33|7.25|5.36|5.07|7.22|7.29|5.55|\n|Return on average tangible shareholders\u2019 equity-2|9.38|9.98|9.93|7.40|7.04|10.08|10.24|7.87|\n|Total ending equity to total ending assets|12.20|12.30|12.23|12.03|11.95|11.88|11.70|11.68|\n|Total average equity to total average assets|12.24|12.28|12.13|11.98|11.79|11.70|11.67|11.50|\n|Dividend payout|17.68|17.32|11.73|17.13|17.57|12.48|12.36|17.62|\n|Per common share data|||||||||\n|Earnings|$0.43|$0.43|$0.43|$0.29|$0.28|$0.40|$0.40|$0.28|\n|Diluted earnings|0.40|0.41|0.41|0.28|0.27|0.38|0.38|0.27|\n|Dividends paid|0.075|0.075|0.05|0.05|0.05|0.05|0.05|0.05|\n|Book value|24.04|24.19|23.71|23.14|22.53|22.40|21.89|21.67|\n|Tangible book value-2|16.95|17.14|16.71|16.19|15.62|15.50|15.00|14.80|\n|Market price per share of common stock|||||||||\n|Closing|$22.10|$15.65|$13.27|$13.52|$16.83|$15.58|$17.02|$15.39|\n|High closing|23.16|16.19|15.11|16.43|17.95|18.45|17.67|17.90|\n|Low closing|15.63|12.74|12.18|11.16|15.38|15.26|15.41|15.15|\n|Market capitalization|$222,163|$158,438|$135,577|$139,427|$174,700|$162,457|$178,231|$161,909|\n", + "(1) Calculated as total net income for four consecutive quarters divided by annualized average assets for four consecutive quarters.", + "(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.", + "For more information on these ratios, see Supplemental Financial Data on page 26, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "(3) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 55.", + "(4) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.", + "(5) Balances and ratios do not include loans accounted for under the fair value option.", + "For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio Credit Risk Management \u2013 Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 63 and corresponding Table 30, and Commercial Portfolio Credit Risk Management \u2013 Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 69 and corresponding Table 37.", + "(6) Asset quality metrics as of December 31, 2016 include $243 million of non-U.", + "S. credit card allowance for loan and lease losses and $9.2 billion of non-U.", + "S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.", + "(7) Primarily includes amounts allocated to the U. S. credit card and unsecured consumer lending portfolios in Consumer Banking, PCI loans and the non-U.", + "S. credit card portfolio in All Other.", + "(8) Net charge-offs exclude $70 million, $83 million, $82 million and $105 million of write-offs in the PCI loan portfolio in the fourth, third, second and first quarters of 2016, respectively, and $82 million, $148 million, $290 million and $288 million in the fourth, third, second and first quarters of 2015, respectively.", + "For more information on PCI write-offs, see Consumer Portfolio Credit Risk Management \u2013 Purchased Credit-impaired Loan Portfolio on page 61.", + "(9) Risk-based capital ratios are reported under Basel 3 Advanced - Transition beginning in the fourth quarter of 2015.", + "Prior to fourth quarter of 2015, we were required to report risk-based capital ratios under Basel 3 Standardized - Transition only.", + "For additional information, see Capital Management on page 44.", + "FUTURE MINIMUM LEASE OBLIGATIONS", + "||As of February 28, 2010|\n|(In thousands)|Capital Leases -1|Operating Lease Commitments-1|\n|Fiscal 2011|$3,608|$82,832|\n|Fiscal 2012|3,608|82,788|\n|Fiscal 2013|3,608|82,688|\n|Fiscal 2014|3,643|83,026|\n|Fiscal 2015|3,884|83,041|\n|Fiscal 2016 and thereafter|37,056|557,452|\n|Total minimum lease payments|55,407|$971,827|\n|Less amounts representing interest|-27,319||\n|Present value of net minimum capital lease payments|$28,088||\n", + "(1) Excludes taxes, insurance and other costs payable directly by us.", + "These costs vary from year to year and are incurred in the ordinary course of business.", + "We did not enter into any sale-leaseback transactions in fiscal 2010 or fiscal 2008.", + "We completed sale-leaseback transactions involving two superstores valued at approximately $31.3 million in fiscal 2009.", + "All sale-leaseback transactions are structured at competitive rates.", + "Gains or losses on sale-leaseback transactions are recorded as deferred rent and amortized over the lease term.", + "Other than occupancy, we do not have continuing involvement under the sale-leaseback transactions.", + "In conjunction with certain sale-leaseback transactions, we must meet financial covenants relating to minimum tangible net worth and minimum coverage of rent expense.", + "We were in compliance with all such covenants as of February 28, 2010.15.", + "SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (A) Goodwill and Other Intangibles Other assets included goodwill and other intangibles with a carrying value of $10.1 million as of February 28, 2010, and February 28, 2009.", + "No impairment of goodwill or intangible assets resulted from our annual impairment tests in fiscal 2010, fiscal 2009 or fiscal 2008.", + "(B) Restricted Investments Restricted investments, included in other assets, consisted of $30.7 million in money market securities as of February 28, 2010, and $28.5 million in money market securities and $2.2 million in other debt securities as of February 28, 2009.", + "For fiscal 2010, proceeds from the sales of other debt securities totaled $2.2 million.", + "For fiscal 2009, there were no proceeds from the sales of other debt securities.", + "Due to the short-term nature and/or variable rates associated with these financial instruments, the carrying value approximates fair value.", + "(C) Other Accrued Expenses As of February 28, 2010 and 2009, accrued expenses and other current liabilities included accrued compensation and benefits of $62.1 million and $24.3 million, respectively, and loss reserves for general liability and workers\u2019 compensation insurance of $23.9 million and $22.2 million, respectively.", + "(D) Advertising Expense SG&A expenses included advertising expense of $75.1 million in fiscal 2010, $101.5 million in fiscal 2009 and $108.8 million in fiscal 2008.", + "Advertising expenses were 1.0% of net sales and operating revenues for fiscal 2010, 1.5% for fiscal 2009 and 1.3% for fiscal year 2008.16.", + "CONTINGENT LIABILITIES (A) Litigation On April 2, 2008, Mr. John Fowler filed a putative class action lawsuit against CarMax Auto Superstores California, LLC and CarMax Auto Superstores West Coast, Inc. in the Superior Court of California, County of Los Angeles.", + "Subsequently, two other lawsuits, Leena Areso et al.", + "v. CarMax Auto Superstores California, LLC and Justin Weaver v. CarMax Auto Superstores California, LLC, were consolidated as part of the Fowler case.", + "The allegations", + "FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES Selected cash flows for the years ended December 31, 2014, 2013, and 2012 are as follows (in millions):" + ], + "question_id": "simplong-test-323", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in the consolidated revenues from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Strategy Our mission is to achieve sustainable revenue and earnings growth through providing superior solutions to our customers.", + "Our strategy to achieve this has been and will continue to be built on the following pillars: ?", + "Expand Client Relationships \u2014 The overall market we serve continues to gravitate beyond single-product purchases to multi-solution partnerships.", + "As the market dynamics shift, we expect our clients to rely more on our multidimensional service offerings.", + "Our leveraged solutions and processing expertise can drive meaningful value and cost savings to our clients through more efficient operating processes, improved service quality and speed for our clients' customers. ?", + "Buy, Build or Partner to Add Solutions to Cross-Sell \u2014 We continue to invest in growth through internal product development, as well as through product-focused or market-centric acquisitions that complement and extend our existing capabilities and provide us with additional solutions to cross-sell.", + "We also partner from time to time with other entities to provide comprehensive offerings to our customers.", + "By investing in solution innovation and integration, we continue to expand our value proposition to clients. ?", + "Support Our Clients Through Market Transformation \u2014 The changing market dynamics are transforming the way our clients operate, which is driving incremental demand for our leveraged solutions, consulting expertise, and services around intellectual property.", + "Our depth of services capabilities enables us to become involved earlier in the planning and design process to assist our clients as they manage through these changes. ?", + "Continually Improve to Drive Margin Expansion \u2014 We strive to optimize our performance through investments in infrastructure enhancements and other measures that are designed to drive organic revenue growth and margin expansion. ?", + "Build Global Diversification \u2014 We continue to deploy resources in emerging global markets where we expect to achieve meaningful scale.", + "Revenues by Segment The table below summarizes the revenues by our reporting segments (in millions):", + "||2012|2011|2010|\n|FSG|$2,246.4|$2,076.8|$1,890.8|\n|PSG|2,380.6|2,372.1|2,354.2|\n|ISG|1,180.5|1,177.6|917.0|\n|Corporate & Other|0.1|-0.9|-16.4|\n|Total Consolidated Revenues|$5,807.6|$5,625.6|$5,145.6|\n", + "Financial Solutions Group The focus of FSG is to provide the most comprehensive software and services for the core processing, customer channel, treasury services, cash management, wealth management and capital market operations of our financial institution customers in North America.", + "We service the core and related ancillary processing needs of North American banks, credit unions, automotive financial companies, commercial lenders, and independent community and savings institutions.", + "FIS offers a broad selection of in-house and outsourced solutions to banking customers that span the range of asset sizes.", + "FSG customers are typically committed under multi-year contracts that provide a stable, recurring revenue base and opportunities for cross-selling additional financial and payments offerings.", + "We employ several business models to provide our solutions to our customers.", + "We typically deliver the highest value to our customers when we combine our software applications and deliver them in one of several types of outsourcing arrangements, such as an application service provider, facilities management processing or an application management arrangement.", + "We are also able to deliver individual applications through a software licensing arrangement.", + "Based upon our expertise gained through the foregoing arrangements, some clients also retain us to manage their IT operations without using any of our proprietary software.", + "Our solutions in this segment include:", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) 5.", + "Fair Value Considerable judgment is often required in interpreting market data to develop estimates of fair value, and the use of different assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.", + "Assets and Liabilities Measured at Fair Value Recurring Fair Value Measurements The assets and liabilities measured at estimated fair value on a recurring basis, including those items for which the Company has elected the FVO, were determined as described below.", + "These estimated fair values and their corresponding placement in the fair value hierarchy are summarized as", + "|| December 31, 2011|\n|| Fair Value Measurements at Reporting Date Using||\n|| Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)| Significant Other Observable Inputs (Level 2)| Significant Unobservable Inputs (Level 3)| Total Estimated Fair Value|\n|| (In millions)|\n| Assets|||||\n|Fixed maturity securities:|||||\n|U.S. corporate securities|$\u2014|$99,001|$6,784|$105,785|\n|Foreign corporate securities|\u2014|59,648|4,370|64,018|\n|Foreign government securities|76|50,138|2,322|52,536|\n|RMBS|\u2014|41,035|1,602|42,637|\n|U.S. Treasury and agency securities|19,911|20,070|31|40,012|\n|CMBS|\u2014|18,316|753|19,069|\n|State and political subdivision securities|\u2014|13,182|53|13,235|\n|ABS|\u2014|11,129|1,850|12,979|\n|Other fixed maturity securities|\u2014|\u2014|\u2014|\u2014|\n|Total fixed maturity securities|19,987|312,519|17,765|350,271|\n|Equity securities:|||||\n|Common stock|819|1,105|281|2,205|\n|Non-redeemable preferred stock|\u2014|380|438|818|\n|Total equity securities|819|1,485|719|3,023|\n|Trading and other securities:|||||\n|Actively Traded Securities|\u2014|473|\u2014|473|\n|FVO general account securities|\u2014|244|23|267|\n|FVO contractholder-directed unit-linked investments|7,572|8,453|1,386|17,411|\n|FVO securities held by CSEs|\u2014|117|\u2014|117|\n|Total trading and other securities|7,572|9,287|1,409|18,268|\n|Short-term investments -1|8,150|8,120|590|16,860|\n|Mortgage loans:|||||\n|Commercial mortgage loans held by CSEs|\u2014|3,138|\u2014|3,138|\n|Mortgage loans held-for-sale: -2|||||\n|Residential mortgage loans|\u2014|2,836|228|3,064|\n|Securitized reverse residential mortgage loans|\u2014|6,466|1,186|7,652|\n|Total mortgage loans held-for-sale|\u2014|9,302|1,414|10,716|\n|Total mortgage loans|\u2014|12,440|1,414|13,854|\n|Other invested assets:|||||\n|MSRs|\u2014|\u2014|666|666|\n|Other investments|312|124|\u2014|436|\n|Derivative assets: -3|||||\n|Interest rate contracts|32|10,426|338|10,796|\n|Foreign currency contracts|1|1,316|61|1,378|\n|Credit contracts|\u2014|301|29|330|\n|Equity market contracts|29|2,703|964|3,696|\n|Total derivative assets|62|14,746|1,392|16,200|\n|Total other invested assets|374|14,870|2,058|17,302|\n|Net embedded derivatives within asset host contracts -4|\u2014|1|362|363|\n|Separate account assets -5|28,191|173,507|1,325|203,023|\n|Total assets|$65,093|$532,229|$25,642|$622,964|\n", + "a yield curve used to measure the benefit obligation.", + "The new method utilized a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to their underlying projected cash flows.", + "The Company changed to the new method to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows and their corresponding spot rates.", + "The change is accounted for as a change in accounting estimate which is applied prospectively.", + "This change in estimate is not expected to have a material impact on the Company\u2019s pension and postretirement net periodic benefit expense in future periods.", + "Although the discount rate used for each plan will be established and applied individually, a weighted average discount rate of 3.0% will be used in calculating the fiscal 2018 net periodic benefit costs (income).", + "The discount rate reflects the market rate for high-quality fixed-income investments on the Company\u2019s annual measurement date of June 30 and is subject to change each fiscal year.", + "The discount rate assumptions used to account for pension and other postretirement benefit plans reflect the rates at which the benefit obligations could be effectively settled.", + "The rate was determined by matching the Company\u2019s expected benefit payments for the plans to a hypothetical yield curve developed using a portfolio of several hundred high-quality non-callable corporate bonds.", + "The weighted average discount rate is volatile from year to year because it is determined based upon the prevailing rates in the U. S. , the U. K. , Australia and other foreign countries as of the measurement date.", + "The key assumptions used in developing the Company\u2019s fiscal 2017, 2016 and 2015 net periodic benefit costs (income) for its plans consist of the following:", + "||2017|2016| 2015|\n|| (in millions, except %)|\n|Weighted average assumptions used to determine net periodic benefit costs (income)||||\n|Discount rate for PBO|3.1%|3.9%|4.2%|\n|Discount rate for Service Cost|3.1%|3.9%|4.2%|\n|Discount rate for Interest on PBO|2.6%|3.9%|4.2%|\n|Discount rate for Interest on Service Cost|2.9%|3.9%|4.2%|\n|Assets:||||\n|Expected rate of return|5.7%|5.7%|6.3%|\n|Expected return|$75|$81|$93|\n|Actual return|$106|$121|$96|\n|Gain/(Loss)|$31|$40|$3|\n|One year actual return|8.2%|9.4%|7.2%|\n|Five year actual return|8.8%|7.7%|8.6%|\n", + "The Company will use a weighted average long-term rate of return of 5.1% for fiscal 2018 based principally on a combination of current asset mix and an expectation of future long term investment returns.", + "The accumulated net pre-tax losses on the Company\u2019s pension plans as of June 30, 2017 were approximately $595 million which decreased from approximately $610 million for the Company\u2019s pension plans as of June 30, 2016.", + "This decrease of $15 million was primarily due to favorable asset returns.", + "Lower discount rates increase present values of benefit obligations and increase the Company\u2019s deferred losses and also increase subsequent-year benefit costs.", + "Higher discount rates decrease the present values of benefit obligations and reduce the Company\u2019s accumulated net loss and also decrease subsequent-year benefit costs.", + "These deferred losses are being systematically recognized in future net periodic benefit costs (income) in accordance with ASC 715, \u201cCompensation\u2014 Retirement Benefits.", + "\u201d Unrecognized losses for the primary plans in excess of 10% of the greater of the market\u0002related value of plan assets or the plan\u2019s projected benefit obligation are recognized over the average life expectancy for plan participants for the primary plans.", + "The Company made contributions of $26 million, $26 million and $9 million to its funded pension plans in fiscal 2017, 2016 and 2015, respectively.", + "Future plan contributions are dependent upon actual plan asset returns, statutory requirements and interest rate movements.", + "Assuming that actual plan returns are consistent with the", + "On April 25, 2013 Delphi granted 37,674 RSUs to the Board of Directors at a grant date fair value of approximately $2 million.", + "The grant date fair value was determined based on the closing price of the Company's ordinary shares on April 25, 2013.", + "The RSUs vested on April 2, 2014, the day before the 2014 annual meeting of shareholders.", + "On April 3, 2014, Delphi granted 24,144 RSUs to the Board of Directors at a grant date fair value of approximately $2 million.", + "The grant date fair value was determined based on the closing price of the Company's ordinary shares on April 3, 2014.", + "The RSUs will vest on April 22, 2015, the day before the 2015 annual meeting of shareholders.", + "In February 2012, Delphi granted approximately 1.88 million RSUs to its executives.", + "These awards include a time-based vesting portion and a performance-based vesting portion.", + "The time-based RSUs, which make up 25% of the awards for Delphi\u2019s officers and 50% for Delphi\u2019s other executives, will vest ratably over three years beginning on the first anniversary of the grant date.", + "The performance-based RSUs, which make up 75% of the awards for Delphi\u2019s officers and 50% for Delphi\u2019s other executives, vested at the completion of a three-year performance period at the end of 2014.", + "In February 2013, under the time-based vesting terms of the 2012 grant, 218,070 ordinary shares were issued to Delphi executives at a fair value of $9 million, of which 78,692 ordinary shares were withheld to cover withholding taxes.", + "In February 2013, Delphi granted approximately 1.45 million RSUs to its executives.", + "These awards include time and performance-based components and vesting terms similar to the 2012 awards described above, as well as continuity awards.", + "The time-based RSUs will vest ratably over three years beginning on the first anniversary of the grant date and the performance-based RSUs will vest at the completion of a three-year performance period at the end of 2015 if certain targets are met.", + "In February 2014, under the time-based vesting terms of the 2012 and 2013 grants, 365,930 ordinary shares were issued to Delphi executives at a fair value of $23 million, of which 131,913 ordinary shares were withheld to cover minimum withholding taxes.", + "In February 2014, Delphi granted approximately 0.8 million RSUs to its executives.", + "These awards include time and performance-based components and vesting terms similar to the 2013 awards described above.", + "The time-based RSUs will vest ratably over three years beginning on the first anniversary of the grant date and the performance-based RSUs will vest at the completion of a three-year performance period at the end of 2016 if certain targets are met.", + "Any new executives hired after the annual executive RSU grant date may be eligible to participate in the PLC LTIP.", + "Any off cycle grants made for new hires will be valued at their grant date fair value based on the closing price of the Company's ordinary shares on the date of such grant.", + "Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company\u2019s performance against established company-wide performance metrics, which are:", + "|Metric|2014 Grant|2013 Grant|2012 Grant|\n|Average return on net assets -1|50%|50%|50%|\n|Cumulative net income|N/A|N/A|30%|\n|Cumulative earnings per share -2|30%|30%|N/A|\n|Relative total shareholder return -3|20%|20%|20%|\n", + "(1) Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period.", + "(2) Cumulative earnings per share is measured by net income attributable to Delphi divided by the weighted average number of diluted shares outstanding for the respective three-year performance period.", + "(3) Relative total shareholder return is measured by comparing the average closing price per share of the Company\u2019s ordinary shares for all available trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company\u2019s ordinary shares for all available trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies.", + "The grant date fair value of the RSUs was determined based on the closing price of the Company\u2019s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards.", + "Based on the target number of awards issued for the February 2014, 2013 and 2012 grants, the fair value at grant date was estimated to be approximately $53 million, $60 million and $59 million, respectively.", + "Each pension plan is overseen by a local committee or board that is responsible for the overall administration and investment of the pension plans.", + "In determining investment policies, strategies and goals, each committee or board considers factors including, local pension rules and regulations; local tax regulations; availability of investment vehicles (separate accounts, commingled accounts, insurance funds, etc.", + "); funded status of the plans; ratio of actives to retirees; duration of liabilities; and other relevant factors including: diversification, liquidity of local markets and liquidity of base currency.", + "A majority of the Company\u2019s pension funds are open to new entrants and are expected to be on-going plans.", + "Permitted investments are primarily liquid and/or listed, with little reliance on illiquid and non-traditional investments such as hedge funds.", + "The Company\u2019s retirement plan asset allocation at the end of 2018 and 2017 and target allocations for 2019 are as follows:", + "||Percent ofPlan Assets|TargetAllocation 2019|\n||2018|2017|\n|Worldwide Retirement Plans||||\n|Equity securities|71%|76%|70%|\n|Debt securities|29|24|30|\n|Total plan assets|100%|100%|100%|\n", + "Determination of Fair Value of Plan Assets The Plan has an established and well-documented process for determining fair values.", + "Fair value is based upon quoted market prices, where available.", + "If listed prices or quotes are not available, fair value is based upon models that primarily use, as inputs, market-based or independently sourced market parameters, including yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates and credit curves.", + "While the Plan believes its 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 estimate of fair value at the reporting date.", + "Valuation Hierarchy The authoritative literature establishes a three-level hierarchy to prioritize the inputs used in measuring fair value.", + "The levels within the hierarchy are described in the table below with Level 1 having the highest priority and Level 3 having the lowest.", + "A financial instrument\u2019s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.", + "Following is a description of the valuation methodologies used for the investments measured at fair value. ?", + "Short-term investment funds \u2014 Cash and quoted short-term instruments are valued at the closing price or the amount held on deposit by the custodian bank.", + "Other investments are through investment vehicles valued using the Net Asset Value (NAV) provided by the administrator of the fund.", + "The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.", + "The NAV is a quoted price in a market that is not active and classified as Level 2. ?", + "Government and agency securities \u2014 A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded.", + "Where quoted prices are available in an active market, the investments are classified within Level 1 of the valuation hierarchy.", + "If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows.", + "When quoted market prices for a security are not available in an active market, they are classified as Level 2. ?", + "Debt instruments \u2014 A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded.", + "Where quoted prices are available in an active market, the investments are classified as Level 1.", + "If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and are classified as Level 2.", + "Level 3 debt instruments are priced based on unobservable inputs. ?", + "Equity securities \u2014 Equity securities are valued at the closing price reported on the major market on which the individual securities are traded.", + "Substantially all common stock is classified within Level 1 of the valuation hierarchy. ?", + "Commingled funds \u2014 These investment vehicles are valued using the NAV provided by the fund administrator.", + "The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.", + "Assets in the Level 2 category have a quoted market price.", + "PUBLIC STORAGE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2009 F-26 of our common shares.", + "Through December 31, 2009, we have repurchased a total of 23,721,916 of our common shares pursuant to this authorization.", + "At December 31, 2009 and 2008, we had 4,244,022 and 3,027,544 of common shares reserved in connection with our share-based incentive plans, respectively, (see Note 10) and 231,978 shares reserved for the conversion of Convertible Partnership Units, respectively.", + "Equity Shares, Series AAA In November 1999, we sold $100,000,000 (4,289,544 shares) of Equity Shares, Series AAA (\u201cEquity Shares AAA\u201d) to a newly formed joint venture.", + "The Equity Shares AAA ranks on a parity with common shares and junior to the Senior Preferred Shares with respect to general preference rights, and has a liquidation amount equal to 120% of the amount distributed to each common share.", + "Annual distributions per share are equal to the lesser of (i) five times the amount paid per common share or (ii) $2.1564.", + "We have no obligation to pay distributions if no distributions are paid to common shareholders.", + "During the years ended December 31, 2009, 2008 and 2007, we paid quarterly distributions to the holder of the Equity Shares, Series AAA of $0.5391 per share for each of the quarters ended March 31, June 30, September 30 and December 31.", + "For all periods presented, the Equity Shares, Series AAA and related dividends are eliminated in consolidation as the shares are held by a Subsidiary.", + "Dividends The unaudited characterization of dividends for Federal income tax purposes is made based upon earnings and profits of the Company, as defined by the Internal Revenue Code.", + "Common share dividends including amounts paid to our restricted share unitholders totaled $371.7 million ($2.20 per share), $472.8 million ($2.80 per share) and $340.0 million ($2.00 per share), for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Equity Shares, Series A dividends totaled $20.5 million ($2.45 per share), $21.2 million ($2.45 per share) and $21.4 million ($2.45 per share), for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Preferred share dividends pay fixed rates from 6.125% to 7.500% with a total liquidation amount of $3,399,777,000 at December 31, 2009 ($3,424,327,000 at December 31, 2008) and dividends aggregating $232.4 million, $239.7 million and $236.8 million for the years ended December 31, 2009, 2008 and 2007, respectively.", + "For the tax year ended December 31, 2009, distributions for the common shares, Equity Shares, Series A, and all the various series of preferred shares were classified as follows:", + "||2009 (unaudited)|\n||1 st Quarter|2 nd Quarter|3 rd Quarter|4thQuarter|\n|Ordinary Income|100.00%|100.00%|98.57%|100.00%|\n|Long-Term Capital Gain|0.00%|0.00%|1.43%|0.00%|\n|Total|100.00%|100.00%|100.00%|100.00%|\n", + "9.", + "Related Party Transactions Mr. Hughes, Public Storage\u2019s Chairman of the Board of Trustees, and his family (collectively the \u201cHughes Family\u201d) have ownership interests in, and operate approximately 52 self-storage facilities in Canada using the \u201cPublic Storage\u201d brand name (\u201cPS Canada\u201d) pursuant to a royalty-free trademark license agreement with Public Storage.", + "We currently do not own any interests in these facilities nor do we own any facilities in Canada.", + "The Hughes Family owns approximately 17.3% of our common shares outstanding at December 31, 2009.", + "We have a right of first refusal to acquire the stock or assets of the corporation that manages the 52 self-storage facilities in Canada, if the Hughes Family or the corporation agrees to sell them.", + "However, we have no interest in the operations of this corporation, we have no right to acquire this stock or assets unless the Hughes Family decides to sell and we receive no benefit from the profits and increases in value of the Canadian self-storage facilities.", + "Same Store Facilities The \u201cSame Store Facilities\u201d represents those 1,899 facilities that we have owned, and have been operated on a stabilized basis, since January 1, 2007 and therefore provide meaningful comparisons for 2007, 2008, and 2009.", + "The following table summarizes the historical operating results of these 1,899 facilities (117.5 million net rentable square feet) that represent approximately 93% of the aggregate net rentable square feet of our U. S. consolidated self\u0002storage portfolio at December 31, 2009.", + "|SAME STORE FACILITIES|Year Ended December 31,|Year Ended December 31,|\n||2009|2008|Percentage Change|2008|2007|Percentage Change|\n|Revenues:|(Dollar amounts in thousands, except weighted average amounts)|\n|Rental income|$1,324,747|$1,375,484|-3.7%|$1,375,484|$1,339,637|2.7%|\n|Late charges and admin fees collected|64,768|60,146|7.7%|60,146|57,121|5.3%|\n|Total revenues (a)|1,389,515|1,435,630|-3.2%|1,435,630|1,396,758|2.8%|\n|Cost of operations:|||||||\n|Property taxes|139,776|135,825|2.9%|135,825|132,411|2.6%|\n|Direct property payroll|94,262|94,303|0.0%|94,303|93,152|1.2%|\n|Media advertising|19,795|19,853|-0.3%|19,853|20,917|-5.1%|\n|Other advertising and promotion|20,079|18,235|10.1%|18,235|18,778|-2.9%|\n|Utilities|34,636|36,411|-4.9%|36,411|35,094|3.8%|\n|Repairs and maintenance|38,356|42,696|-10.2%|42,696|43,332|-1.5%|\n|Telephone reservation center|11,040|12,580|-12.2%|12,580|12,642|-0.5%|\n|Property insurance|9,761|11,391|-14.3%|11,391|13,498|-15.6%|\n|Other cost of management|86,908|91,502|-5.0%|91,502|89,744|2.0%|\n|Total cost of operations (a)|454,613|462,796|-1.8%|462,796|459,568|0.7%|\n|Net operating income (b)|934,902|972,834|-3.9%|972,834|937,190|3.8%|\n|Depreciation and amortization expense (c)|-301,647|-344,905|-12.5%|-344,905|-447,245|-22.9%|\n|Net income|$633,255|$627,929|0.8%|$627,929|$489,945|28.2%|\n|Gross margin (before depreciation and amortization expense)|67.3%|67.8%|-0.7%|67.8%|67.1%|1.0%|\n|Weighted average for the period:|||||||\n|Square foot occupancy (d)|88.7%|89.5%|-0.9%|89.5%|89.3%|0.2%|\n|Realized annual rent per occupied square foot (e)(f)|$12.71|$13.08|-2.8%|$13.08|$12.77|2.4%|\n|REVPAF (f)(g)|$11.28|$11.71|-3.7%|$11.71|$11.40|2.7%|\n|Weighted average at December 31:|||||||\n|Square foot occupancy|87.1%|87.1%|-|87.1%|87.9%|-0.9%|\n|In place annual rent per occupied square foot (h)|$13.46|$14.02|-4.0%|$14.02|$13.89|0.9%|\n|Total net rentable square feet (in thousands)|117,462|117,462|-|117,462|117,462|-|\n|Number of facilities|1,899|1,899|-|1,899|1,899|-|\n", + "(a) Revenues and cost of operations do not include ancillary revenues and expenses generated at the facilities with respect to tenant reinsurance, retail sales and truck rentals.", + "\u201cOther costs of management\u201d included in cost of operations principally represents all the indirect costs incurred in the operations of the facilities.", + "Indirect costs principally include supervisory costs and corporate overhead cost incurred to support the operating activities of the facilities.", + "(b) See \u201cNet Operating Income\u201d above.", + "(c) Depreciation and amortization expense for the years ended December 31, 2009 and 2008 decreased, as compared to the year prior, primarily due to a reduction in amortization expense related to intangible assets that we obtained in the Shurgard Merger.", + "(d) Square foot occupancies represent weighted average occupancy levels over the entire period.", + "(e) Realized annual rent per occupied square foot is computed by annualizing the result of dividing rental income (which excludes late charges and administrative fees) by the weighted average occupied square feet for the period.", + "Realized" + ], + "question_id": "simplong-test-324", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Wholesale revenues,Transmission revenues and Other revenues in 2018? (in dollars in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Ball Corporation and Subsidiaries Notes to Consolidated Financial Statements 16.", + "Stock-Based Compensation Programs (continued) To encourage certain senior management employees and outside directors to invest in Ball stock, Ball adopted a deposit share program in March 2001 (subsequently amended and restated in April 2004) that matches purchased shares with restricted shares.", + "In general, restrictions on the matching shares lapse at the end of four years from date of grant, or earlier in stages if established share ownership guidelines are met, assuming the relevant qualifying purchased shares are not sold or transferred prior to that time.", + "Grants under the plan are accounted for as equity awards and compensation expense is recorded based upon the closing market price of the shares at the grant date.", + "The company recorded $0.4 million, $1.6 million and $3.8 million of expense in connection with this program in 2010, 2009 and 2008, respectively.", + "The company\u2019s board of directors grants performance-contingent restricted stock units to key employees, which will cliff\u0002vest if the company\u2019s return on average invested capital during a 36-month performance period is equal to or exceeds the company\u2019s cost of capital.", + "If the performance goals are not met, the shares will be forfeited.", + "Current assumptions are that the performance targets will be met and, accordingly, grants under the plan are being accounted for as equity awards and compensation expense is recorded based upon the closing market price of the shares at the grant date.", + "On a quarterly basis, the company reassesses the probability of the goals being met and adjusts compensation expense as appropriate.", + "No such adjustment was considered necessary at the end of 2010 for any grants.", + "Restricted stock units granted under this program included 362,300 units in January 2010, 386,900 units in January 2009 and 493,300 units in April 2008.", + "The expense associated with the performance-contingent grants totaled $9.5 million, $9.9 million and $6.2 million in 2010, 2009 and 2008, respectively.", + "For the years ended December 31, 2010, 2009 and 2008, the company recognized in selling, general and administrative expenses pretax expense of $24.4 million ($14.9 million after tax), $26.5 million ($16.0 million after tax) and $20.5 million ($12.4 million after tax), respectively, for share-based compensation arrangements.", + "At December 31, 2010, there was $35.9 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements.", + "This cost is expected to be recognized in earnings over a weighted average period of 2.3 years.", + "In connection with the employee stock purchase plan, the company contributes 20 percent of up to $500 of each participating employee\u2019s monthly payroll deduction toward the purchase of Ball Corporation common stock.", + "Company contributions for this plan were $3.2 million in 2010, $3.0 million in 2009 and $3.2 million in 2008.17.", + "Earnings Per Share", + "||Years ended December 31,|\n|($ in millions, except per share amounts; shares in thousands)|2010|2009|2008|\n|Diluted Earnings per Share(a):||||\n|Net earnings attributable to Ball Corporation|$468.0|$387.9|$319.5|\n|Weighted average common shares|180,746|187,572|191,714|\n|Effect of dilutive securities|2,792|2,406|2,324|\n|Weighted average shares applicable to diluted earnings per share|183,538|189,978|194,038|\n|Basic earnings per share|$2.59|$2.07|$1.67|\n|Diluted earnings per share|$2.55|$2.04|$1.65|\n", + "(a) Shares have been retrospectively adjusted for the two-for-one stock split that was effective on February 15, 2011.", + "Certain options were excluded from the diluted earnings per share calculation because they were anti-dilutive (i. e. , the sum of the proceeds, including the unrecognized compensation and windfall tax benefits, exceeded the average closing stock price for the period).", + "The options excluded totaled 1,683,300 in 2010; 5,727,828 in 2009; and 4,969,158 in 2008.", + "Information needed to compute basic earnings per share is provided in the consolidated statements of earnings.", + "Senior Notes Under the terms of the note purchase agreement for GMO's Series A, B and C Senior Notes, GMO is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the agreement, not greater than 0.65 to 1.00.", + "In addition, GMO's priority debt, as defined in the agreement, cannot exceed 15% of consolidated tangible net worth, as defined in the agreement.", + "At December 31, 2018, GMO was in compliance with these covenants.", + "In March 2018, KCP&L issued, at a discount, $300.0 million of 4.20% unsecured Senior Notes, maturing in 2048.", + "KCP&L also repaid its $350.0 million of 6.375% unsecured Senior Notes at maturity in March 2018.", + "As a result of the consummation of the merger transaction, a change in control provision in GMO's Series A, B and C Senior Notes was triggered that allowed holders a one-time option to elect for early repayment of their notes at par value, plus accrued interest.", + "Several holders of GMO's Series A and B Senior Notes elected this option and in July 2018, GMO redeemed $89.0 million of its Series A Senior Notes and $15.0 million of its Series B Senior Notes.", + "Scheduled Maturities Evergy's, Westar Energy's and KCP&L's long-term debt maturities and the long-term debt maturities of VIEs for the next five years are detailed in the following table.", + "||2019|2020|2021|2022|2023|\n||(millions)|\n|Evergy(a)|$701.1|$251.1|$432.0|$287.5|$439.5|\n|Westar Energy(a)|300.0|250.0|\u2014|\u2014|50.0|\n|KCP&L|400.0|\u2014|\u2014|\u2014|379.5|\n|VIEs|30.3|32.3|18.8|\u2014|\u2014|\n", + "13.", + "FAIR VALUE MEASUREMENTS Values of Financial Instruments GAAP establishes a hierarchical framework for disclosing the transparency of the inputs utilized in measuring assets and liabilities at fair value.", + "Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy levels.", + "In addition, the Evergy Companies measure certain investments that do not have a readily determinable fair value at NAV, which are not included in the fair value hierarchy.", + "Further explanation of these levels and NAV is summarized below.", + "Level 1 \u2013 Quoted prices are available in active markets for identical assets or liabilities.", + "The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on public exchanges.", + "Level 2 \u2013 Pricing inputs are not quoted prices in active markets, but are either directly or indirectly observable.", + "The types of assets and liabilities included in Level 2 are certain marketable debt securities, financial instruments traded in less than active markets or other financial instruments priced with models using highly observable inputs.", + "Level 3 \u2013 Significant inputs to pricing have little or no transparency.", + "The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation.", + "NAV - Investments that do not have a readily determinable fair value are measured at NAV.", + "These investments do not consider the observability of inputs and, therefore, they are not included within the fair value hierarchy.", + "The Evergy Companies include in this category investments in private equity, real estate and alternative investment funds that do not have a readily determinable fair value.", + "The underlying alternative investments include collateralized debt obligations, mezzanine debt and a variety of other investments.", + "Management believes that utility gross margin provides a meaningful basis for evaluating the Evergy Companies' operations across periods compared with operating revenues because utility gross margin excludes the revenue effect of fluctuations in these expenses.", + "Utility gross margin is used internally to measure performance against budget and in reports for management and the Evergy Board.", + "The Evergy Companies' definition of utility gross margin may differ from similar terms used by other companies.", + "The following tables summarize Evergy's utility gross margin and MWhs sold.", + "|Utility Gross Margin|2018|Change|2017|Change|2016|\n|Retail revenues|(millions)|\n|Residential|$1,578.8|$777.5|$801.3|$-23.9|$825.2|\n|Commercial|1,356.4|644.7|711.7|-16.9|728.6|\n|Industrial|527.8|114.9|412.9|7.1|405.8|\n|Other retail revenues|30.6|7.8|22.8|0.8|22.0|\n|Total electric retail|3,493.6|1,544.9|1,948.7|-32.9|1,981.6|\n|Wholesale revenues|404.4|73.2|331.2|14.9|316.3|\n|Transmission revenues|308.1|23.3|284.8|26.1|258.7|\n|Other revenues|69.8|63.5|6.3|0.8|5.5|\n|Operating revenues|4,275.9|1,704.9|2,571.0|8.9|2,562.1|\n|Fuel and purchased power|-1,078.7|-537.2|-541.5|-32.0|-509.5|\n|SPP network transmission costs|-259.9|-12.0|-247.9|-15.1|-232.8|\n|Utility gross margin(a)|$2,937.3|$1,155.7|$1,781.6|$-38.2|$1,819.8|\n", + "(a) Utility gross margin is a non-GAAP financial measure.", + "See explanation of utility gross margin above.", + "|MWh Sales|2018|Change|2017|Change|2016|\n|Retail MWh Sales|(thousands)|\n|Residential|12,478|6,315|6,163|-271|6,434|\n|Commercial|14,129|6,761|7,368|-176|7,544|\n|Industrial|7,426|1,737|5,689|190|5,499|\n|Other retail revenues|110|37|73|-4|77|\n|Total electric retail|34,143|14,850|19,293|-261|19,554|\n|Wholesale revenues|13,811|3,465|10,346|2,047|8,299|\n|Operating revenues|47,954|18,315|29,639|1,786|27,853|\n", + "Evergy's utility gross margin increased $1,155.7 million in 2018 compared to 2017 driven by: ?", + "an $1,181.5 million increase due to the inclusion of KCP&L's and GMO's utility gross margin beginning in June 2018; and ?", + "a $75.0 million increase primarily due to higher Westar Energy retail sales driven by warmer spring and summer weather and colder winter weather.", + "For 2018 compared to 2017, cooling degree days increased 31% and heating degree days increased 23%; partially offset by ?", + "a $69.8 million provision for rate refund recorded at Westar Energy for the change in the corporate income tax rate caused by the passage of the TCJA.", + "See Note 19 to the consolidated financial statements for additional information; and ?", + "a $31.0 million reduction in revenue recorded at Westar Energy for one-time and annual bill credits as a result of conditions in the KCC merger order.", + "See Note 2 to the consolidated financial statements for additional information.", + "Evergy's utility gross margin decreased $38.2 million in 2017 compared to 2016 primarily due to lower Westar Energy retail sales driven by milder weather.", + "For 2017 compared to 2016, cooling degree days decreased 13%.", + "The following table summarizes the regulatory short-term and long-term debt financing authorizations for Westar Energy, KGE, KCP&L and GMO and the remaining amount available under these authorizations as of December 31, 2018.", + "|Type of Authorization|Commission|Expiration Date|Authorization Amount|Available Under Authorization|\n|Westar Energy & KGE|||(in millions)|\n|Short-Term Debt|FERC|December 2020|$1,250.0|$838.3|\n|KCP&L||||\n|Short-Term Debt|FERC|December 2020|$1,250.0|$1,073.1|\n|Long-Term Debt|MPSC|September 2019|$750.0|$450.0|\n|GMO|||||\n|Short-Term Debt|FERC|December 2020|$750.0|$600.0|\n|Long-Term Debt|FERC|December 2020|$100.0|$100.0|\n", + "In addition to the above regulatory authorizations, the Westar Energy, KGE and KCP&L mortgages each contain provisions restricting the amount of FMBs that can be issued by each entity.", + "Westar Energy, KGE and KCP&L must comply with these restrictions prior to the issuance of additional FMBs, general mortgage bonds or other secured indebtedness.", + "Under the Westar Energy mortgage, the issuance of bonds is subject to limitations based on the amount of bondable property additions.", + "In addition, so long as any bonds issued prior to January 1, 1997, remain outstanding, the mortgage prohibits additional FMBs from being issued, except in connection with certain refundings, unless Westar Energy\u2019s unconsolidated net earnings available for interest, depreciation and property retirement (which as defined, does not include earnings or losses attributable to the ownership of securities of subsidiaries), for a period of 12 consecutive months within 15 months preceding the issuance, are not less than the greater of twice the annual interest charges on or 10% of the principal amount of all FMBs outstanding after giving effect to the proposed issuance.", + "As of December 31, 2018, $344.5 million principal amount of additional FMBs could be issued under the most restrictive provisions in the mortgage, except in connection with certain refundings.", + "Under the KGE mortgage, the amount of FMBs authorized is limited to a maximum of $3.5 billion and the issuance of bonds is subject to limitations based on the amount of bondable property additions.", + "In addition, the mortgage prohibits additional FMBs from being issued, except in connection with certain refundings, unless KGE\u2019s net earnings before income taxes and before provision for retirement and depreciation of property for a period of 12 consecutive months within 15 months preceding the issuance are not less than either two and one-half times the annual interest charges on or 10% of the principal amount of all KGE FMBs outstanding after giving effect to the proposed issuance.", + "As of December 31, 2018, KGE had sufficient capacity under the most restrictive provisions in the mortgage to meet its near term financing and refinancing needs.", + "Under the KCP&L mortgage, additional KCP&L mortgage bonds may be issued on the basis of property additions or retired bonds.", + "As of December 31, 2018, KCP&L had sufficient capacity under the most restrictive provisions in the mortgage to meet its near term financing and refinancing needs.", + "Cash and Cash Equivalents At December 31, 2018, Evergy had approximately $160.3 million of cash and cash equivalents on hand.", + "Under the Amended Merger Agreement, Great Plains Energy was required to have not less than $1.25 billion in cash and cash equivalents on its balance sheet at the closing of the merger with Westar Energy.", + "In 2018, Evergy primarily utilized this excess cash to repurchase approximately $1,042 million of common stock.", + "Evergy anticipates that its remaining excess cash will also be returned to shareholders through the repurchase of common stock.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Financing Activities Net cash used in financing activities during 2015 primarily related to the repurchase of our common stock and payment of dividends.", + "We repurchased 13.6 shares of our common stock for an aggregate cost of $285.2, including fees, and made dividend payments of $195.5 on our common stock.", + "Net cash used in financing activities during 2014 primarily related to the purchase of long-term debt, the repurchase of our common stock and payment of dividends.", + "We redeemed all $350.0 in aggregate principal amount of our 6.25% Notes, repurchased 14.9 shares of our common stock for an aggregate cost of $275.1, including fees, and made dividend payments of $159.0 on our common stock.", + "This was offset by the issuance of $500.0 in aggregate principal amount of our 4.20% Notes.", + "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 $156.1 in 2015.", + "The decrease was primarily a result of the U. S. Dollar being stronger than several foreign currencies, including the Australian Dollar, Brazilian Real, Canadian Dollar, Euro and South African Rand as of December 31, 2015 compared to December 31, 2014.", + "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 $101.0 in 2014.", + "The decrease was primarily a result of the U. S. Dollar being stronger than several foreign currencies, including the Australian Dollar, Brazilian Real, Canadian Dollar and Euro as of December 31, 2014 compared to December 31, 2013." + ], + "question_id": "simplong-test-325", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of all Unaffiliated customers that are greater than 2000 in 2010? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "| For the Years Ended December 31| Total| United States| Europe (a)| Africa| Asia and Other (b)|\n|| (In millions)|\n|2010||||||\n|Sales and other operating revenues||||||\n|Unaffiliated customers|$8,601|$2,310|$2,251|$2,750|$1,290|\n|Inter-company|143|143|\u2014|\u2014|\u2014|\n|Total revenues|8,744|2,453|2,251|2,750|1,290|\n|Costs and expenses||||||\n|Production expenses, including related taxes|1,924|489|727|455|253|\n|Exploration expenses, including dry holes and lease impairment|865|364|49|143|309|\n|General, administrative and other expenses|281|161|48|20|52|\n|Depreciation, depletion and amortization|2,222|649|463|772|338|\n|Asset impairments|532|\u2014|\u2014|532|\u2014|\n|Total costs and expenses|5,824|1,663|1,287|1,922|952|\n|Results of operations before income taxes|2,920|790|964|828|338|\n|Provision for income taxes|1,425|305|477|580|63|\n|Results of operations|$1,495|$485|$487|$248|$275|\n", + "(a) Results of operations for oil and gas producing activities in Norway were as follows for the years ended December 31:", + "||2012| 2011| 2010||\n|| (In millions)||\n|Sales and other operating revenues\u2014Unaffiliated customers|$518|$996|$524||\n|Costs and expenses|||||\n|Production expenses, including related taxes|302|290|149||\n|Exploration expenses, including dry holes and lease impairment|\u2014|10|12||\n|General, administrative and other expenses|10|9|9||\n|Depreciation, depletion and amortization|139|232|133||\n|Total costs and expenses|451|541|303||\n|Results of operations before income taxes|67|455|221||\n|Provision for income taxes|-82|295|154||\n|Results of operations|$149|$160|$67||\n", + "(b) Excludes a 2012 income tax charge of $86 million for a disputed application of an international tax treaty.", + "Oil and Gas Reserves The Corporation\u2019s proved oil and gas reserves are calculated in accordance with the Securities and Exchange Commission (SEC) regulations and the requirements of the Financial Accounting Standards Board.", + "Proved oil and gas reserves are quantities, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from known reservoirs under existing economic conditions, operating methods and government regulations.", + "The Corporation\u2019s estimation of net recoverable quantities of liquid hydrocarbons and natural gas is a highly technical process performed by internal teams of geoscience professionals and reservoir engineers.", + "Estimates of reserves were prepared by the use of appropriate geologic, petroleum engineering, and evaluation principals and techniques that are in accordance with practices generally recognized by the petroleum industry as presented in the publication of the Society of Petroleum Engineers entitled \u201cStandards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information (Revision as of February 19, 2007).", + "\u201d The method or combination of methods used in the analysis of each reservoir is based on the maturity of the reservoir, the completeness of the subsurface data available at the time of the estimate, the stage of reservoir development and the production history.", + "Where applicable, reliable technologies may be used in reserve estimation, as defined in the SEC regulations.", + "These technologies, including computational methods, must have been field tested and demonstrated to provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an analogous formation.", + "In order for reserves to be classified as proved, any required government approvals must be obtained and depending on the cost of the project, either senior management or the board of directors must commit to fund the development.", + "The Corporation\u2019s proved reserves are subject to certain risks and uncertainties, which are discussed in Item 1A, Risk Factors Related to Our Business and Operations of this Form 10-K.", + "by net repayments of other debt of $53 million.", + "During 2011, net proceeds from borrowings on available credit facilities were $422 million.", + "During 2010, net proceeds from borrowings were $1,098 million, including the August 2010 issuance of $1,250 million of 30-year fixed-rate public notes with a coupon of 5.6% scheduled to mature in 2041.", + "In January 2010, the Corporation completed the repurchase of the remaining $116 million of fixed-rate public notes that were scheduled to mature in 2011.", + "Total common stock dividends paid were $171 million in 2012, $136 million in 2011 and $131 million in 2010.", + "In 2012, the Corporation made five quarterly common stock dividend payments as a result of accelerating payment of the fourth quarter 2012 dividend, which historically would have been paid in the first quarter of 2013.", + "The Corporation received net proceeds from the exercise of stock options, including related income tax benefits of $11 million, $88 million and $54 million in 2012, 2011 and 2010, respectively.", + "Future Capital Requirements and Resources The Corporation anticipates investing a total of approximately $6.8 billion in capital and exploratory expenditures during 2013, substantially all of which is targeted for E&P operations.", + "This reflects an 18 percent reduction from the 2012 total of $8.3 billion.", + "The decrease is substantially attributable to a reduced level of spend in the Bakken driven by lower drilling and completion costs and decreased investments in infrastructure projects.", + "During 2012, the Corporation funded its capital spending through cash flows from operations, incremental borrowings and proceeds from asset sales.", + "The Corporation had a cash flow deficit of approximately $2.5 billion in 2012 and the projected deficit for 2013 is expected to moderate versus 2012 based on current commodity prices.", + "During 2012, the Corporation announced asset sales totaling $2.4 billion, of which cash proceeds of $843 million were received in 2012 and approximately $440 million were received in January 2013.", + "The Corporation is also pursuing the sale of its Russian operations, Eagle Ford assets and its terminal network.", + "The Corporation expects to fund its 2013 capital expenditures and ongoing operations, including dividends, pension contributions and debt repayments with existing cash on-hand, cash flows from operations and proceeds from asset sales.", + "Crude oil and natural gas prices are volatile and difficult to predict.", + "In addition, unplanned increases in the Corporation\u2019s capital expenditure program could occur.", + "If conditions were to change, such as a significant decrease in commodity prices or an unexpected increase in capital expenditures, the Corporation would take steps to protect its financial flexibility and may pursue other sources of liquidity, including the issuance of debt securities, the issuance of equity securities, and/or further asset sales.", + "See Overview on page 20 for a discussion of Elliott Management Corporation.", + "The table below summarizes the capacity, usage, and available capacity of the Corporation\u2019s borrowing and letter of credit facilities at December 31, 2012:", + "|| Expiration Date| Capacity| Borrowings| Letters of Credit Issued| Total Used| Available Capacity|\n||| (In millions)|\n|Revolving credit facility|April 2016|$4,000|$758|$\u2014|$758|$3,242|\n|Asset-backed credit facility|July 2013 (a)|642|600|\u2014|600|42|\n|Committed lines|Various (b)|2,730|500|463|963|1,767|\n|Uncommitted lines|Various (b)|773|490|283|773|\u2014|\n|Total||$8,145|$2,348|$746|$3,094|$5,051|\n", + "(a) Total capacity of $1 billion subject to the amount of eligible receivables posted as collateral.", + "(b) Committed and uncommitted lines have expiration dates through 2014.", + "The Corporation has a $4 billion syndicated revolving credit facility that matures in April 2016.", + "This facility can be used for borrowings and letters of credit.", + "Borrowings on the facility bear interest at 1.25% above the London Interbank Offered Rate.", + "A fee of 0.25% per annum is also payable on the amount of the facility.", + "The interest rate and facility fee are subject to adjustment if the Corporation\u2019s credit rating changes.", + "The Corporation has a 364-day asset-backed credit facility secured by certain accounts receivable from its M&R operations.", + "Under the terms of this financing arrangement, the Corporation has the ability to borrow or issue letters of credit of up to $1 billion subject to the availability of sufficient levels of eligible receivables.", + "At December 31, 2012, outstanding borrowings under this facility of $600 million were collateralized by a total of", + "HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 2010: In December, the Corporation acquired approximately 167,000 net acres in the Bakken oil shale play (Bakken) in North Dakota from TRZ Energy, LLC for $1,075 million in cash.", + "In December, the Corporation also completed the acquisition of American Oil & Gas Inc. (American Oil & Gas) for approximately $675 million through the issuance of approximately 8.6 million shares of the Corporation\u2019s common stock, which increased the Corporation\u2019s acreage position in the Bakken by approximately 85,000 net acres.", + "The properties acquired were located near the Corporation\u2019s existing acreage.", + "These acquisitions strengthened the Corporation\u2019s acreage position in the Bakken, leveraged existing capabilities and infrastructure and are expected to contribute to future reserve and production growth.", + "Both of these transactions were accounted for as business combinations and the majority of the fair value of the assets acquired was assigned to unproved properties.", + "The total goodwill recorded on these transactions was $332 million after final post-closing adjustments.", + "In September, the Corporation completed the exchange of its interests in Gabon and the Clair Field in the United Kingdom for additional interests of 28% and 25%, respectively, in the Valhall and Hod fields offshore Norway.", + "This non-monetary exchange was accounted for as a business combination.", + "The transaction resulted in a pre-tax gain of $1,150 million ($1,072 million after income taxes).", + "The total combined carrying amount of the disposed assets prior to the exchange was $702 million, including goodwill of $65 million.", + "The Corporation also acquired, from a different third party, additional interests of 8% and 13% in the Valhall and Hod fields, respectively, for $507 million in cash.", + "This acquisition was accounted for as a business combination.", + "As a result of both of these transactions, the Corporation\u2019s total interests in the Valhall and Hod fields are 64% and 63%, respectively.", + "The primary reason for these transactions was to acquire long-lived crude oil reserves and future production growth.", + "For all the 2010 acquisitions and the exchange described above, the assets acquired and liabilities assumed were recorded at fair value.", + "The estimated fair value for property, plant and equipment acquired in these transactions was based primarily on an income approach (Level 3 fair value measurement).4.", + "Inventories Inventories at December 31 were as follows:", + "||2012|2011|\n||(In millions)|\n|Crude oil and other charge stocks|$493|$451|\n|Refined petroleum products and natural gas|1,362|1,762|\n|Less: LIFO adjustment|-1,123|-1,276|\n||732|937|\n|Merchandise, materials and supplies|527|486|\n|Total inventories|$1,259|$1,423|\n", + "The percentage of LIFO inventory to total crude oil, refined petroleum products and natural gas inventories was 71% and 72% at December 31, 2012 and 2011, respectively.", + "During 2012 the Corporation reduced LIFO inventories, which are carried at lower costs than current inventory costs.", + "The effect of the LIFO inventory liquidations was to decrease Cost of products sold by approximately $165 million in 2012 ($104 million after income taxes).5.", + "HOVENSA L. L. C. Joint Venture The Corporation has a 50% interest in HOVENSA, a joint venture with a subsidiary of Petroleos de Venezuela, S. A.", + "(PDVSA), which owns a refinery in St. Croix, U. S. Virgin Islands.", + "In January 2012, HOVENSA shut down its refinery as a result of continued substantial operating losses due to global economic conditions and competitive disadvantages versus other refiners, despite efforts to improve operating performance by reducing refining capacity to 350,000 from 500,000 barrels per day in the first half of 2011.", + "During 2012 and continuing into 2013, HOVENSA and the Government of the Virgin Islands engaged in discussions pertaining to HOVENSA\u2019s plan to run the facility as an oil storage terminal while the Corporation and its joint venture partner pursue a sale of HOVENSA.", + "Table of Contents VALERO ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Cash Flow Hedges Cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases, refined product sales, and natural gas purchases.", + "The objective of our cash flow hedges is to lock in the price of forecasted feedstock, product or natural gas purchases or refined product sales at existing market prices that we deem favorable.", + "As of December 31, 2011, we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products.", + "The information presents the notional volume of outstanding contracts by type of instrument and year of maturity (volumes in thousands of barrels)." + ], + "question_id": "simplong-test-326", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the average of the Solid Waste in the years where Amortization of landfill airspace is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "(3) Refer to Note 2 \u201cSummary of Significant Accounting Principles and Practices \u201d for further information.13.", + "Employee Benefits p y Defined Contribution Savings Plans Aon maintains defined contribution savings plans for the benefit of its employees.", + "The expense recognized for these plans is included in Compensation and benefits in the Consolidated Statements of Income.", + "The expense for the significant plans in the U. S. , U. K. , Netherlands and Canada is as follows (in millions):", + "|Years ended December 31|2018|2017|2016|\n|U.S.|$98|$105|$121|\n|U.K.|45|43|43|\n|Netherlands and Canada|25|25|27|\n|Total|$168|$173|$191|\n", + "Pension and Other Postretirement Benefits The Company sponsors defined benefit pension and postretirement health and welfare plans that provide retirement, medical, and life insurance benefits.", + "The postretirement health care plans are contributory, with retiree contributions adjusted annually, aand the life insurance and pension plans are generally noncontributory.", + "The significant U. S. , U. K. , Netherlands and Canadian pension plans are closed to new entrants.", + "The following table summarizes the major components of our operating expenses, including the impact of foreign currency translation, for the years ended December 31 (dollars in millions):", + "|| 2013|Period-to-Period Change| 2012|Period-to-Period Change| 2011|\n|Labor and related benefits|$2,506|$99|4.1%|$2,407|$71|3.0%|$2,336|\n|Transfer and disposal costs|973|9|0.9|964|27|2.9|937|\n|Maintenance and repairs|1,181|24|2.1|1,157|67|6.1|1,090|\n|Subcontractor costs|1,182|-8|-0.7|1,190|242|25.5|948|\n|Cost of goods sold|1,000|81|8.8|919|-152|-14.2|1,071|\n|Fuel|603|-46|-7.1|649|21|3.3|628|\n|Disposal and franchise fees and taxes|653|23|3.7|630|28|4.7|602|\n|Landfill operating costs|232|8|3.6|224|-31|-12.2|255|\n|Risk management|244|14|6.1|230|8|3.6|222|\n|Other|538|29|5.7|509|57|12.6|452|\n||$9,112|$233|2.6%|$8,879|$338|4.0%|$8,541|\n", + "Significant changes in our operating expenses are discussed below.", + "\u2030 Labor and related benefits \u2014 Significant items affecting the comparability of expenses for the periods presented include: \u2030 Higher wages due to merit increases effective in the second quarter of 2013 and the effect of acquisitions, particularly the Greenstar acquisition in 2013; \u2030 Incentive compensation expense fluctuations due to higher anticipated payouts for 2013 as compared to the prior year period and lower payouts for 2012 as compared to 2011; \u2030 Increased contract labor in both 2013 and 2012 principally attributed to the recycling line of business; \u2030 Headcount, exclusive of acquisitions, decreased in 2013 compared to the prior year period; conversely, headcount increased in 2012 when compared to 2011; and \u2030 Non-cash charges incurred during the third quarter of 2013 and the second quarter of 2012 as a result of our partial withdrawals from underfunded multiemployer pension plans.", + "\u2030 Maintenance and repairs \u2014 The increase in 2013 compared to 2012 was driven by (i) the Greenstar acquisition and (ii) higher internal shop labor costs due in part to higher incentive compensation and merit increases.", + "The increase in 2012 as compared to 2011 is primarily due to (i) increased fleet maintenance costs, which include services provided by third-parties, tires, parts and internal shop labor costs and (ii) differences in the timing and scope of planned maintenance projects at our waste-to-energy facilities.", + "\u2030 Subcontractor costs \u2014 The decrease in 2013 was driven primarily by the volume decline associated with the loss of certain strategic accounts.", + "These decreases were offset, in part, by higher costs associated with the acquired RCI operations.", + "The increase in 2012 was driven in part by (i) the acquisition of Oakleaf in July 2011 and (ii) increased volumes related to Hurricane Sandy.", + "\u2030 Cost of goods sold \u2014 The increase in cost of goods sold in 2013 is due in large part to higher customer rebates resulting from higher volumes in our recycling commodity business driven primarily by the acquired Greenstar operations.", + "The significantly reduced market prices for recyclable commodities in 2012 drove the majority of the cost decrease when compared to the prior period.", + "\u2030 Fuel \u2014 The decrease in fuel expense in 2013 compared to 2012 was due to (i) a retroactive CNG fuel excise tax credit recognized in the first quarter of 2013; (ii) reduced fuel purchases due to reduced collection volumes; (iii) lower costs as we convert our fleet to CNG vehicles and (iv) lower diesel fuel prices.", + "The increase in fuel expense in 2012 compared to 2011 was mainly driven by higher diesel fuel prices.", + "Labor and related benefits \u2014 Factors affecting the year-over-year changes in our labor and related benefits costs include: \u2030 Higher incentive compensation costs of $94 million in 2013 and $73 million in 2011, as compared with 2012, as a result of higher anticipated payouts.", + "\u2030 Higher non-cash compensation expense recognized in 2013 as compared to 2012, in part due to the payout of performance share units granted in 2010, which was approved in 2013.", + "Expense associated with these awards had been reversed in 2012 when it no longer appeared probable that threshold performance would be achieved.", + "\u2030 Cost savings of $45 million in 2013 driven primarily from our July 2012 restructuring.", + "Professional fees \u2014 Consulting fees declined year over year as company-wide initiatives, which began in 2011, were implemented; partially offset by higher legal fees in 2012 as compared with 2013 and 2011.", + "Provision for bad debts \u2014 Our provision for bad debts decreased in 2013 as a result of the collection of certain fully reserved receivables related to our Puerto Rico operations.", + "Additionally, many of the billing delay issues we experienced throughout fiscal year 2012 with certain of our strategic account customers have been resolved, favorably affecting our year-over-year bad debt comparisons.", + "Other \u2014 In 2013, controllable costs associated with (i) building and equipment; (ii) advertising; (iii) computer and telecommunication; (iv) travel and entertainment and (v) seminars and education have declined primarily as a result of our July 2012 restructuring and continued focus on cost-control initiatives.", + "In 2012, we experienced decreases in (i) litigation settlement costs and (ii) insurance and claims.", + "These decreases were partially offset by increases in (i) computer and telecommunications costs, due in part to improvements we are making to our information technology systems and (ii) building and equipment costs, which include rental and utilities.", + "Depreciation and Amortization Depreciation and amortization includes (i) depreciation of property and equipment, including assets recorded for capital leases, on a straight-line basis from three to 50 years; (ii) amortization of landfill costs, including those incurred and all estimated future costs for landfill development, construction and asset retirement costs arising from closure and post-closure, on a units-of-consumption method as landfill airspace is consumed over the total estimated remaining capacity of a site, which includes both permitted capacity and expansion capacity that meets our Company-specific criteria for amortization purposes; (iii) amortization of landfill asset retirement costs arising from final capping obligations on a units-of-consumption method as airspace is consumed over the estimated capacity associated with each final capping event and (iv) amortization of intangible assets with a definite life, using either a 150% declining balance approach or a straight-line basis over the definitive terms of the related agreements, which are generally from two to 15 years depending on the type of asset.", + "The following table summarizes the components of our depreciation and amortization costs for the years ended December 31 (dollars in millions):", + "|| 2013|Period-to- Period Change| 2012|Period-to- Period Change| 2011|\n|Depreciation of tangible property and equipment|$853|$20|2.4%|$833|$33|4.1%|$800|\n|Amortization of landfill airspace|400|5|1.3|395|17|4.5|378|\n|Amortization of intangible assets|80|11|15.9|69|18|35.3|51|\n||$1,333|$36|2.8%|$1,297|$68|5.5%|$1,229|\n", + "WASTE MANAGEMENT, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2014 (Continued) not anticipate that the final resolution of the Central States Pension Plan matter could be material to the Company\u2019s business, financial condition or liquidity; however, such loss could have a material adverse effect on our cash flows and, to a lesser extent, our results of operations, for a particular reporting period.", + "Similarly, we also do not believe that any future withdrawals, individually or in the aggregate, from the multiemployer pension plans to which we contribute, could have a material adverse effect on our business, financial condition or liquidity.", + "However, such withdrawals could have a material adverse effect on our results of operations or cash flows for a particular reporting period, depending on the number of employees withdrawn in any future period and the financial condition of the multiemployer pension plan(s) at the time of such withdrawal(s).", + "Tax Matters \u2014 We are currently in the examination phase of IRS audits for the tax years 2013 and 2014 and expect these audits to be completed within the next 15 and 27 months, respectively.", + "We participate in the IRS\u2019s Compliance Assurance Process, which means we work with the IRS throughout the year in order to resolve any material issues prior to the filing of our annual tax return.", + "We are also currently undergoing audits by various state and local jurisdictions for tax years that date back to 2005, with the exception of affirmative claims in one jurisdiction that date back to 2000.", + "We are not currently under audit in Canada and, due to the expiration of statutes of limitations, all tax years prior to 2009 are closed.", + "In July 2011, we acquired Oakleaf, which is subject to potential IRS examinations for the years 2010 and 2011.", + "Pursuant to the terms of our acquisition of Oakleaf, we are entitled to indemnification for Oakleaf\u2019s pre-acquisition period tax liabilities.", + "We maintain a liability for uncertain tax positions, the balance of which management believes is adequate.", + "Results of audit assessments by taxing authorities are not currently expected to have a material adverse impact on our results of operations or cash flows.12.", + "Restructuring The following table summarizes pre-tax restructuring charges, including employee severance and benefit costs and other charges, for the years ended December 31 for the respective periods (in millions):", + "|| 2013| 2012| 2011|\n|Solid Waste|$7|$19|$10|\n|Wheelabrator|1|3|1|\n|Corporate and Other|10|45|8|\n||$18|$67|$19|\n", + "During the year ended December 31, 2013, we recognized a total of $18 million of pre-tax restructuring charges, of which $7 million was related to employee severance and benefit costs, including costs associated with our acquisitions of Greenstar and RCI and our 2012 restructurings discussed below.", + "The remaining charges were primarily related to operating lease obligations for property that will no longer be utilized.", + "We do not expect to incur any material charges associated with our past restructuring efforts in future periods.2012 Restructurings \u2014 In July 2012, we announced a reorganization of operations, designed to streamline management and staff support and reduce our cost structure, while not disrupting our front-line operations.", + "Principal organizational changes included removing the management layer of our four geographic Groups, each of which previously constituted a reportable segment, and consolidating and reducing the number of our geographic Areas through which we evaluate and oversee our Solid Waste subsidiaries from 22 to 17.", + "This reorganization eliminated approximately 700 employee positions throughout the Company, including positions at both the management and support level.", + "Voluntary separation arrangements were offered to many employees.", + "Additionally, in 2012, we recognized employee severance and benefits restructuring charges associated with the reorganization of Oakleaf discussed below that began in 2011 along with certain other actions taken by the Company in early 2012." + ], + "question_id": "simplong-test-327", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Average annual rent per square foot-2 of Life science in the years where Average annual rent per unit-2 of Senior housing-1 is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents related to Mac OS X Version 10.6 Snow Leopard and excluded from R&D expense, while R&D expense for 2007 excluded $75 million of capitalized software development costs related to Mac OS X Leopard and iPhone.", + "Although total R&D expense increased 42% during 2008, it remained relatively flat as a percentage of net sales given the 35% increase in revenue during 2008.", + "The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company\u2019s core business strategy.", + "As such, the Company expects to increase spending in R&D to remain competitive.", + "Expenditures for R&D increased 10% or $70 million to $782 million in 2007 compared to 2006.", + "The increases in R&D expense were due primarily to an increase in R&D headcount in 2007 to support expanded R&D activities, partially offset by one less week of expenses in the first quarter of 2007 and the capitalized software development costs mentioned above.", + "Selling, General, and Administrative Expense (\u201cSG&A\u201d) Expenditures for SG&A increased $798 million or 27% to $3.8 billion in 2008 compared to 2007.", + "These increases are due primarily to higher stock-based compensation expenses, higher variable selling expenses resulting from the significant year-over-year increase in total net sales and the Company\u2019s continued expansion of its Retail segment in both domestic and international markets.", + "In addition, the Company incurred higher spending on marketing and advertising during 2008 compared to 2007.", + "Expenditures for SG&A increased $530 million or 22% during 2007 compared to 2006.", + "The increase was due primarily to higher direct and indirect channel variable selling expenses resulting from the significant year-over-year increase in total net sales in 2007, the Company\u2019s continued expansion of its Retail segment in both domestic and international markets, and higher spending on marketing and advertising, partially offset by one less week of expenses in the first quarter of 2007.", + "Other Income and Expense Other income and expense for the three fiscal years ended September 27, 2008, are as follows (in millions):", + "||2008|2007|2006|\n|Interest income|$653|$647|$394|\n|Other income (expense), net|-33|-48|-29|\n|Total other income and expense|$620|$599|$365|\n", + "Total other income and expense increased $21 million to $620 million during 2008 as compared to $599 million and $365 million in 2007 and 2006, respectively.", + "While the Company\u2019s cash, cash equivalents and short-term investment balances increased by 59% in 2008, other income and expense increased only 4% due to the decline in the weighted average interest rate earned of 3.44%.", + "The overall increase in other income and expense is attributable to the Company\u2019s higher cash and short-term investment balances, which more than offset the decline in interest rates during 2008 as compared to 2007.", + "The weighted average interest rate earned by the Company on its cash, cash equivalents, and short-term investments was 5.27% and 4.58% during 2007 and 2006, respectively.", + "During 2008, 2007 and 2006, the Company had no debt outstanding and accordingly did not incur any related interest expense.", + "Provision for Income Taxes The Company\u2019s effective tax rates were 30% for the years ended September 27, 2008 and September 29, 2007, and 29% for the year ended September 30, 2006.", + "The Company\u2019s effective rates differ from the statutory federal income tax rate of 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 27, 2008, the Company had deferred tax assets arising from deductible temporary differences, tax losses, and tax credits of $2.1 billion before being offset against certain deferred liabilities for presentation on the Company\u2019s balance sheet.", + "Management believes it is more likely than not that forecasted income, including", + "SILICON VALLEY BANCSHARES AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 23.", + "Regulatory Matters (Continued) The Company and the Bank are subject to capital adequacy guidelines issued by the Federal Reserve Board.", + "Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a material impact on the Company\u2019s and/or the Bank\u2019s financial condition and results of operations.", + "Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company\u2019s and the Bank\u2019s balance sheet items, as well as certain off-balance sheet items, as calculated under regulatory accounting practices.", + "The Company\u2019s and the Bank\u2019s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.", + "Under these capital guidelines, the minimum total risk-based capital ratio and Tier 1 risk-based capital ratio requirements are 10.0% and 6.0%, respectively, of risk-weighted assets and certain off-balance sheet items for a well capitalized depository institution.", + "The Federal Reserve Board has also established minimum capital leverage ratio guidelines for state member banks.", + "The ratio is determined using Tier 1 capital divided by quarterly average total assets.", + "The guidelines require a minimum of 5.0% for a well-capitalized depository institution.", + "The following table presents the capital ratios for the Company and the bank, as compared to the minimum regulatory capital requirements for an adequately capitalized depository institution, as of December 31, 2003 and 2002:", + "| | Actual Ratio| Actual Amount| Minimum Ratio| Minimum Capital Requirement|\n| | (Dollars in thousands)|\n|As of December 31, 2003:|||||\n|Total risk-based capital ratio|||||\n|Company|16.6%|$590,298|8.0%|$284,675|\n|Bank|14.0%|$476,807|8.0%|$273,308|\n|Tier 1 risk-based capital ratio|||||\n|Company|12.0%|$425,570|4.0%|$142,337|\n|Bank|12.7%|$433,834|4.0%|$136,654|\n|Tier 1 leverage ratio|||||\n|Company|10.3%|$425,570|4.0%|$164,855|\n|Bank|11.0%|$433,834|4.0%|$158,222|\n|As of December 31, 2002:|||||\n|Total risk-based capital ratio|||||\n|Company|16.0%|$555,979|8.0%|$277,383|\n|Bank|13.9%|$463,439|8.0%|$267,554|\n|Tier 1 risk-based capital ratio|||||\n|Company|14.8%|$512,303|4.0%|$138,691|\n|Bank|12.6%|$421,324|4.0%|$133,777|\n|Tier 1 leverage ratio|||||\n|Company|13.9%|$512,303|4.0%|$147,764|\n|Bank|11.8%|$421,324|4.0%|$142,365|\n", + "SILICON VALLEY BANCSHARES AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 24.", + "Stockholders\u2019 Rights Plan On October 22, 1998, the Company\u2019s board of directors (the \u201cBoard\u201d) approved and adopted a stockholders\u2019 rights plan (the \u201cRights Plan\u201d) to, among other things, protect the Company\u2019s stockholders from coercive takeover tactics.", + "On November 6, 2003, the Board approved and adopted Amendment No.1 to the Rights Plan to increase from 10% to 15% the minimum percentage of common shares that any person shall beneficially own to qualify as an \u201cAcquiring Person\u201d for purposes of triggering the stockholders\u2019 rights under the Rights Plan.", + "On January 29, 2004, the Board approved and adopted an amended and restated Rights Plan (the \u201cAmended and Restated Rights Plan\u201d), which supercedes and replaces in entirety the Rights Plan.", + "The following summary of the Rights and the Amended and Restated Rights Plan is a general description only and is subject to the detailed terms and conditions of the Amended and Restated Rights Plan, a copy of which is attached as Exhibit 4.20 to the Company\u2019s", + "SVB FINANCIAL GROUP AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - (Continued) Investments in Entities that Calculate Net Asset Value Per Share FASB guidance over certain fund investments requires that we disclose the fair value of funds, significant investment strategies of the investees, redemption features of the investees, restrictions on the ability to sell investments, estimate of the period of time over which the underlying assets are expected to be liquidated by the investee, and unfunded commitments related to the investments.", + "Our investments in debt funds and venture capital and private equity fund investments generally cannot be redeemed.", + "Alternatively, we expect distributions, if any, to be received primarily through IPOs and M&A activity of the underlying assets of the fund.", + "We currently do not have any plans to sell any of these fund investments.", + "If we decide to sell these investments in the future, the investee fund\u2019s management must approve of the buyer before the sale of the investments can be completed.", + "The fair values of the fund investments have been estimated using the net asset value per share of the investments, adjusted for any differences between our measurement date and the date of the fund investment\u2019s net asset value by using the most recently available financial information from the investee general partner, for example September 30 th , for our December 31 st consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period.", + "The following table is a summary of the estimated fair values of these investments and remaining unfunded commitments for each major category of these investments as of December 31, 2014 :", + "|(Dollars in thousands)|Carrying Amount|Fair Value|Unfunded Commitments|\n|Non-marketable securities (fair value accounting):||||\n|Venture capital and private equity fund investments -1|$1,130,882|$1,130,882|$462,314|\n|Non-marketable securities (equity method accounting):||||\n|Other investments -2|47,876|49,066|5,836|\n|Non-marketable securities (cost method accounting):||||\n|Venture capital and private equity fund investments -3|140,551|234,053|18,563|\n|Total|$1,319,309|$1,414,001|$486,713|\n", + "(1) Venture capital and private equity fund investments within non-marketable and other securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds.", + "These investments represent investments in venture capital and private equity funds that invest primarily in U. S. and global technology and life science & healthcare companies.", + "Included in the fair value and unfunded commitments of fund investments under fair value accounting are $1.0 billion and $459 million , respectively, attributable to noncontrolling interests.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds.", + "(2) Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U. S. and global technology and life science & healthcare companies.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds.", + "(3) Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U. S. and global technology and life science & healthcare companies.", + "It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds.", + "HEALTH CARE PROPERTY INVESTORS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued)", + "| | Year Ended December 31,|\n| |2005| 2004| 2003|\n| | (In thousands)|\n|Rental and other income|$74,690|$70,330|$16,850|\n|Net income (loss)|$-3,829|$4,932|$3,853|\n|HCP\u2019s equity income (loss)|$-1,379|$1,537|$1,694|\n|Fees earned by HCP|$3,102|$3,112|$2,491|\n|Distributions received|$5,302|$98,291|$\u2014|\n", + "HCP MOP acquired 100 properties from MedCap in October 2003 for cash of $464 million and the assumption of $26 million of mortgage debt that accrues interest at 7%.", + "In connection therewith, the Company contributed $143 million to HCP MOP.", + "In January 2004, HCP MOP completed $288 million of non-recourse mortgage financings, including $254 million at a weighted average fixed interest rate of 5.57% with the balance based on LIBOR plus 1.75%.", + "The Company received $92 million of distributions from HCP MOP in connection with this financing during early 2004.", + "The Company has not guaranteed any indebtedness or other obligations of HCP MOP.", + "Generally, the Company may only be required to provide additional funding to HCP MOP under limited circumstances as specified in the related agreements.", + "At December 31, 2005 and 2004, investments and advances to unconsolidated joint ventures includes outstanding advances to HCP MOP of $3.7 million and $6.4 million, respectively.", + "During the year ended December 31, 2005, HCP MOP revised its purchase price allocation related to its 2003 acquisition of certain properties acquired from MedCap Properties, LLC.", + "The revisions made by HCP MOP to the purchase price allocation attributed more value to below-market lease intangibles and other intangibles from real estate assets.", + "Lease intangibles generally amortize over a shorter period of time relative to tangible real estate assets.", + "The impact to net income for HCP MOP, for the year ended December 31, 2005, resulting from the purchase price allocation revisions was a charge of $1.4 million.", + "In late August and early September 2005, ten medical office buildings owned by HCP MOP, principally in Louisiana and the surrounding area, sustained varying degrees of damage due to hurricanes Katrina and Rita.", + "Due to the nature and extent of the overall damage to the area, the Company has not been able to finalize damage assessments.", + "Preliminary estimates indicate that four of the buildings have incurred substantial damage, and may be a total loss.", + "For the years ended December 31, 2005 and 2004, the four buildings generated revenues of $0.9 million and $1.4 million, respectively.", + "As of December 31, 2005, the $3.8 million carrying value of these four buildings was written off and an equal amount was recorded as a receivable for the expected insurance proceeds up to the carrying value of each building.", + "At December 31, 2005, the remaining six buildings had resumed operations with repairs underway.", + "Revenues for the six facilities undergoing repair were $5.8 million and $5.9 million for the years ended December 31, 2005, and 2004, respectively.", + "Repair costs and other related expenses for damages caused by hurricanes Katrina and Rita during the year ended December 31, 2005, were approximately $1.4 million.", + "The Company has property, business interruption and other related insurance coverage to mitigate the financial impact of these types of events; such coverage is subject to various limits and deductible provisions based on the terms of the policies.", + "Any excess insurance recovery above the carrying value of the assets is expected to be recognized by HCP MOP as a gain at the time the claims settle with the insurance carrier.", + "HCP, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Mr. Sullivan, a director of the Company, was a director of Covenant Care, Inc. through March 2006.", + "During 2006 Covenant Care made payments of approximately $8.2 million to the Company for the lease of certain of its nursing home properties.", + "Mr. Elcan, a former Executive Vice President of the Company through April 30, 2008, and certain members of Mr. Elcan\u2019s immediate family, including without limitation his wife and father-in-law, may be deemed to own directly or indirectly, in the aggregate, greater than 10% of the outstanding common stock of HCA, Inc. (\u2018\u2018HCA\u2019\u2019) at April 29, 2008.", + "During 2008, 2007 and 2006, HCA contributed $95 million, $83 million and $37 million, respectively, in aggregate revenues and interest income, for the lease of certain assets and obligations under debt securities.", + "Mr. Elcan and Mr. Klaritch, an Executive Vice President of the Company, were previously senior executives and limited liability company members of MedCap Properties, LLC, which was acquired in October 2003 by HCP and a joint venture of which HCP was the managing member.", + "As part of that transaction, MedCap Properties, LLC contributed certain property interests to a newly-formed entity, HCPI/Tennessee LLC, in exchange for DownREIT units.", + "In connection with the transactions, Messrs. Elcan and Klaritch received 610,397 and 113,431 non-managing member units, respectively, in HCPI/Tennessee, LLC in a distribution of their respective interests in MedCap Properties, LLC.", + "Each DownREIT unit is redeemable for an amount of cash approximating the then-current market value of two shares of HCP\u2019s common stock or, at HCP\u2019s option, two shares of HCP\u2019s common stock (subject to certain adjustments, such as stock splits, stock dividends and reclassifications).", + "In addition, the HCPI/Tennessee, LLC agreement provides for a \u2018\u2018make-whole\u2019\u2019 payment, intended to cover grossed-up tax liabilities, to the non-managing members upon the sale of certain properties acquired by HCPI/Tennessee, LLC in the MedCap transactions and other events.", + "The HCPI/Tennessee, LLC agreement was amended, with an effective date of January 1, 2007, to change the allocation of the taxable income among the members, to more closely correspond with the relative cash distributions each member receives.", + "Previously, taxable income was allocated disproportionately to the non-managing members to reflect the priority rights of the non-managing member unit holders in distributions of cash.", + "The amendment has no effect on the amounts of cash distributions to the non-managing members.", + "(25) Selected Quarterly Financial Data Selected quarterly information for the years ended December 31, 2008 and 2007 is as follows (in thousands, except per share amounts).", + "Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:", + "| | Three Months Ended During 2008|\n| | March 31| June 30| September 30| December 31|\n| | (in thousands, except share data, unaudited) |\n|Total revenues|$245,052|$249,054|$268,447|$263,265|\n|Income before income taxes, equity income from unconsolidated joint ventures and minority interests' share in earnings|37,495|43,976|100,211|44,876|\n|Total discontinued operations|19,457|194,018|30,450|241|\n|Net income applicable to common shares|45,129|227,012|120,135|35,089|\n|Dividends paid per common share|0.455|0.455|0.455|0.455|\n|Basic earnings per common share|0.21|0.97|0.49|0.14|\n|Diluted earnings per common share|0.21|0.96|0.49|0.14|\n", + "The following table summarizes our outstanding interest rate swap contracts as of December 31, 2010 (dollars in thousands):", + "| Date Entered| Maturity Date| Hedge Designation|Fixed Rate| Floating Rate Index| Notional Amount|Fair Value|\n|July 2005-1|July 2020|Cash Flow|3.82%|BMA Swap Index|$45,600|$-4,184|\n|November 2008|October 2016|Cash Flow|5.95%|1 Month LIBOR+1.50%|28,200|-3,191|\n|June 2009|September 2011|Fair Value|5.95%|1 Month LIBOR+4.21%|250,000|2,291|\n|July 2009|July 2013|Cash Flow|6.13%|1 Month LIBOR+3.65%|14,200|-545|\n|August 2009|February 2011|Cash Flow|0.87%|1 Month LIBOR|250,000|165|\n|August 2009|August 2011|Cash Flow|1.24%|1 Month LIBOR|250,000|1,409|\n", + "(1) Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million.", + "For a more detailed description of our derivative financial instruments, see Note 24 of the Consolidated Financial Statements and \u2018\u2018Quantitative and Qualitative Disclosures About Market Risk\u2019\u2019 in Item 7A.", + "Equity At December 31, 2010, we had 4.0 million shares of 7.25% Series E cumulative redeemable preferred stock, 7.8 million shares of 7.10% Series F cumulative redeemable preferred stock and 370.9 million shares of common stock outstanding.", + "At December 31, 2010, equity totaled $8.1 billion and our equity securities had a market value of $14.2 billion.", + "As of December 31, 2010, there were a total of 4.2 million DownREIT units outstanding in five limited liability companies in which we are the managing member.", + "The DownREIT units are exchangeable for an amount of cash approximating the then-current market value of shares of our common stock or, at our option, shares of our common stock (subject to certain adjustments, such as stock splits and reclassifications).", + "Shelf Registration We have a prospectus on file with the SEC as part of a registration statement on Form S-3, using a shelf registration process that expires in September 2012.", + "Under this \u2018\u2018shelf\u2019\u2019 process, we may sell from time to time any combination of the registered securities in one or more offerings.", + "The securities described in the prospectus include common stock, preferred stock and debt securities.", + "Each time we sell securities under the shelf registration, we will provide a prospectus supplement that will contain specific information about the terms of the securities being offered and of the offering.", + "We may offer and sell the securities pursuant to this prospectus from time to time in one or more of the following ways: through underwriters or dealers, through agents, directly to purchasers or through a combination of any of these methods of sales.", + "Proceeds from the sale of these securities may be used for general corporate purposes, which may include repayment of indebtedness, working capital and potential acquisitions.", + "Non-GAAP Financial Measure\u2014Funds From Operations (\u2018\u2018FFO\u2019\u2019) We believe FFO applicable to common shares, diluted FFO applicable to common shares, FFO, before the impact of impairments, recoveries and litigation provision, and basic and diluted FFO per common share are important supplemental measures of operating performance for a real estate investment trust.", + "Because the historical cost accounting convention used for real estate assets utilizes straight-line depreciation (except on land), such accounting presentation implies that the value of real estate assets diminishes predictably over time.", + "Since real estate values instead have historically risen and fallen with market conditions, presentations of operating results for a real estate investment trust", + "The following table summarizes occupancy and average annual rent trends for our owned portfolio for the years ended December 31, (square feet in thousands):", + "| |2012|2011|2010|2009| 2008|\n|Senior housing-1:||||||\n|Average annual rent per unit-2|$13,059|$12,887|$12,656|$11,918|$12,530|\n|Average capacity (units)(3)|37,089|33,911|24,453|24,209|24,143|\n|Post-acute/skilled nursing-1:||||||\n|Average annual rent per bed-2|$11,624|$11,140|$6,885|$6,817|$6,537|\n|Average capacity (beds)(3)|39,856|30,565|5,063|5,041|5,043|\n|Life science:||||||\n|Average occupancy percentage|90%|90%|89%|91%|87%|\n|Average annual rent per square foot-2|$45|$44|$44|$43|$37|\n|Average occupied square feet-3|6,250|6,076|5,740|5,554|5,362|\n|Medical office:||||||\n|Average occupancy percentage|91%|91%|91%|91%|90%|\n|Average annual rent per square foot-2|$27|$26|$26|$26|$25|\n|Average occupied square feet-3|12,295|11,865|11,583|11,577|11,719|\n|Hospital-1:||||||\n|Average annual rent per bed-2|$34,236|$33,499|$32,710|$29,825|$33,357|\n|Average capacity (beds)(3)|2,410|2,410|2,399|2,376|2,392|\n", + "(1) Senior housing includes average units of 5,008 and 1,672 for the years ended December 31, 2012 and 2011, respectively, that are in a RIDEA structure in which resident occupancy impacts our annual revenue.", + "The average resident occupancy for these units was 86% and 88% for the years ended December 31, 2012 and 2011, respectively.", + "All other senior housing, post-acute/skilled nursing and hospital facilities are generally leased to single tenants under triple-net lease structures for each of the periods reported, for which these facilities were or approximately 100% leased.", + "(2) Average annual rent per unit/square feet is presented as a ratio of revenues comprised of rental and related revenues, tenant recoveries and income from direct financing leases divided by the average capacity or average occupied square feet of the facilities and annualized for mergers and acquisitions for the year in which they occurred.", + "Average annual rent for leased properties (including DFLs) exclude termination fees and non-cash revenue adjustments (i. e. , straight-line rents, amortization of above and below market lease intangibles and DFL interest accretion).", + "Average annual rent for operating properties operated under a RIDEA structure is calculated based on NOI divided by the average capacity of the facilities.", + "(3) Capacity for senior housing facilities is measured in units (e. g. , studio, one or two bedroom units).", + "Capacity for post-acute/ skilled nursing and hospitals is measured in licensed bed count.", + "Capacity for life science facilities and MOBs is measured in square feet.", + "Average capacity for senior housing, post-acute/skilled nursing and hospitals is as reported by the respective tenants or operators for the twelve month period and one quarter in arrears from the periods presented." + ], + "question_id": "simplong-test-328", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Residential real estate of Recoveries in the year with the least Commercial real estate of Gross charge-offs?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Item 1B.", + "UNRESOLVED STAFF COMMENTS None.", + "Item 2.", + "PROPERTIES The table below provides a summary of our containerboard mills, the principal products produced and each mill\u2019s year-end 2011 annual practical maximum capacity based upon all of our paper machines\u2019 production capabilities, as reported to the AF&PA:", + "|Location|Function Kraft linerboard mill Kraft linerboard mill Semi-chemical medium mill Semi-chemical medium mill|Capacity (tons) 1,043,000 556,000 538,000 438,000|\n|Counce, TN|Valdosta, GA|Tomahawk, WI|\n|Filer City, MI|\n|Total||2,575,000|\n", + "We currently own our four containerboard mills and 44 of our corrugated manufacturing operations (37 corrugated plants and seven sheet plants).", + "We also own one warehouse and miscellaneous other property, which includes sales offices and woodlands management offices.", + "These sales offices and woodlands management offices generally have one to four employees and serve as administrative offices.", + "PCA leases the space for four corrugated plants, 23 sheet plants, six regional design centers, and numerous other distribution centers, warehouses and facilities.", + "The equipment in these leased facilities is, in virtually all cases, owned by PCA, except for forklifts and other rolling stock which are generally leased.", + "We lease the cutting rights to approximately 88,000 acres of timberland located near our Valdosta mill (77,000 acres) and our Counce mill (11,000 acres).", + "On average, these cutting rights agreements have terms with approximately 12 years remaining.", + "Our corporate headquarters is located in Lake Forest, Illinois.", + "The headquarters facility is leased for the next ten years with provisions for two additional five year lease extensions.", + "Item 3.", + "LEGAL PROCEEDINGS During September and October 2010, PCA and eight other U. S. and Canadian containerboard producers were named as defendants in five purported class action lawsuits filed in the United States District Court for the Northern District of Illinois, alleging violations of the Sherman Act.", + "The lawsuits have been consolidated in a single complaint under the caption Kleen Products LLC v Packaging Corp. of America et al.", + "The consolidated complaint alleges that the defendants conspired to limit the supply of containerboard, and that the purpose and effect of the alleged conspiracy was to artificially increase prices of containerboard products during the period from August 2005 to the time of filing of the complaints.", + "The complaint was filed as a purported class action suit on behalf of all purchasers of containerboard products during such period.", + "The complaint seeks treble damages and costs, including attorney\u2019s fees.", + "The defendants\u2019 motions to dismiss the complaint were denied by the court in April 2011.", + "PCA believes the allegations are without merit and will defend this lawsuit vigorously.", + "However, as the lawsuit is in the early stages of discovery, PCA is unable to predict the ultimate outcome or estimate a range of reasonably possible losses.", + "PCA is a party to various other legal actions arising in the ordinary course of our business.", + "These legal actions cover a broad variety of claims spanning our entire business.", + "As of the date of this filing, we believe it is not reasonably possible that the resolution of these legal actions will, individually or in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows.", + "NOTE 18 EQUITY COMMON STOCK On February 8, 2010, we raised $3.0 billion in new common equity through the issuance of 55.6 million shares of common stock in an underwritten offering at $54 per share.", + "The underwriters exercised their option to purchase an additional 8.3 million shares of common stock at the offering price of $54 per share, totaling approximately $450 million, to cover over-allotments.", + "We completed this issuance on March 11, 2010.", + "PREFERRED STOCK Information related to preferred stock is as follows: Preferred Stock \u2013 Issued and Outstanding", + "||| Preferred Shares|\n|December 31Shares in thousands|Liquidation value per share| 2011|2010|\n|Authorized||||\n|$1 par value|| 16,588|16,588|\n|Issued and outstanding||||\n|Series B|$40| 1|1|\n|Series K|10,000| 50|50|\n|Series L|100,000| 2|2|\n|Series O|100,000| 10||\n|Total issued and outstanding|| 63|53|\n", + "Our Series B preferred stock is cumulative and is not redeemable at our option.", + "Annual dividends on Series B preferred stock total $1.80 per share.", + "Holders of Series B preferred stock are entitled to 8 votes per share, which is equal to the number of full shares of common stock into which the Series B Preferred Stock is convertible.", + "Our Series K preferred stock was issued in May 2008 in connection with our issuance of $500 million of Depositary Shares, each representing a fractional interest in a share of the Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series K. Dividends are payable if and when declared each May 21 and November 21 until May 21, 2013.", + "After that date, dividends will be payable each 21st of August, November, February and May.", + "Dividends will be paid at a rate of 8.25% prior to May 21, 2013 and at a rate of three-month LIBOR plus 422 basis points beginning May 21, 2013.", + "The Series K preferred stock is redeemable at our option on or after May 21, 2013.", + "Our 9.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L was issued in connection with the National City transaction in exchange for National City\u2019s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F. Dividends on the Series L preferred stock are payable if and when declared each 1st of February, May, August and November.", + "Dividends will be paid at a rate of 9.875% prior to February 1, 2013 and at a rate of three-month LIBOR plus 633 basis points beginning February 1, 2013.", + "The Series L is redeemable at PNC\u2019s option, subject to Federal Reserve approval, if then applicable, on or after February 1, 2013 at a redemption price per share equal to the liquidation preference plus any declared but unpaid dividends.", + "Our Series O preferred stock was issued on July 27, 2011, when we issued one million depositary shares, each representing a 1/100th interest in a share of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series O for gross proceeds before commissions and expenses of $1 billion.", + "Dividends are payable when, as, and if declared by our board of directors or an authorized committee of our board, semi-annually on February 1 and August 1 of each year until August 1, 2021 at a rate of 6.75%.", + "After that date, dividends will be payable on February 1, May 1, August 1 and November 1 of each year beginning on November 1, 2021 at a rate of three-month LIBOR plus 3.678% per annum.", + "The Series O preferred stock is redeemable at our option on or after August 1, 2021 and at our option within 90 days of a regulatory capital treatment event as defined in the designations.", + "We have authorized but unissued Series H, I, J and M preferred stock.", + "As described in Note 13 Capital Securities of Subsidiary Trusts and Perpetual Trust Securities, under the terms of two of the hybrid capital vehicles we issued that currently qualify as capital for regulatory purposes (the Trust II Securities and the Trust III Securities), these Trust Securities are automatically exchangeable into shares of PNC preferred stock (Series I and Series J, respectively) in each case under certain conditions relating to the capitalization or the financial condition of PNC Bank, N. A. and upon the direction of the Office of the Comptroller of the Currency.", + "The Series preferred stock of PNC REIT Corp. is also automatically exchangeable under similar conditions into shares of PNC Series H preferred stock.", + "As a part of the National City transaction, we established the PNC Non-Cumulative Perpetual Preferred Stock, Series M, which mirrors in all material respects the former National City Non-Cumulative Perpetual Preferred Stock, Series E. PNC has designated 5,751 preferred shares, liquidation value $100,000 per share, for this series.", + "No shares have yet been issued; however, National City issued stock purchase contracts for 5,001 shares of its Series E Preferred Stock (now replaced by the PNC Series M as part of the National City transaction) to the National City Preferred Capital Trust I in connection with the issuance by that Trust of $500 million of 12.000% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the Normal APEX Securities) in January 2008 by the Trust.", + "It is expected that the Trust will purchase 5,001 of the Series M preferred shares pursuant to these stock purchase contracts on December 10, 2012 or on an earlier date and possibly as late as December 10, 2013.", + "The Trust has", + "The weighted-average assumptions used (as of the end of each year) to determine year end obligations for pension and postretirement benefits were as follows.", + "Table 74: Other Pension Assumptions", + "|Year ended December 31|2018|2017|\n|Discount rate|||\n|Qualified pension|4.30%|3.60%|\n|Nonqualified pension|4.15%|3.45%|\n|Postretirement benefits|4.20%|3.55%|\n|Rate of compensation increase (average)|3.50%|3.50%|\n|Assumed health care cost trend rate|||\n|Initial trend|6.50%|6.75%|\n|Ultimate trend|5.00%|5.00%|\n|Year ultimate trend reached|2025|2025|\n", + "The discount rates are determined independently for each plan by comparing the expected future benefits that will be paid under each plan with yields available on high quality corporate bonds of similar duration.", + "For this analysis, 10% of bonds with the highest yields and 40% with the lowest yields were removed from the bond universe.", + "The expected return on plan assets is a long-term assumption established by considering historical and anticipated returns of the asset classes invested in by the pension plan and the allocation strategy currently in place among those classes.", + "For purposes of setting and reviewing this assumption, \u201clong- term\u201d refers to the period over which the plan\u2019s projected benefit obligations will be disbursed.", + "We review this assumption at each measurement date and adjust it if warranted.", + "Our selection process references certain historical data and the current environment, but primarily utilizes qualitative judgment regarding future return expectations.", + "We also examine the assumption used by other companies with similar pension investment strategies.", + "Taking into account all of these factors, the expected long-term return on plan assets for determining net periodic pension cost for 2018 was 6.00%.", + "We are reducing our expected long-term return on assets to 5.75% for determining pension cost for 2019.", + "This decision was made after considering the views of both internal and external capital market advisors, particularly with regard to the effects of the recent economic environment on long-term prospective equity and fixed income returns.", + "PNC\u2019s net periodic benefit cost recognized for the plans is sensitive to the discount rate and expected long-term return on plan assets.", + "With all other assumptions held constant, a .5% decline in the discount rate would have resulted in an immaterial increase in net periodic benefit cost for the qualified pension plan in 2018, and to be recognized in 2019.", + "For the nonqualified pension plan and postretirement benefits, a .5% decline in the discount rate would also have resulted in an immaterial increase in net periodic benefit cost.", + "The health care cost trend rate assumptions shown in Tables 73 and 74 relate only to the postretirement benefit plans.", + "The effect of a one-percentage-point increase or decrease in assumed health care cost trend rates would be insignificant.", + "Defined Contribution Plans The PNC Incentive Savings Plan (ISP) is a qualified defined contribution plan that covers all of our eligible employees.", + "Effective January 1, 2015, newly-hired full time employees and part-time employees who became eligible to participate in the ISP after that date are automatically enrolled in the ISP with a deferral rate equal to 4% of eligible compensation in the absence of an affirmative election otherwise.", + "Employee benefits expense related to the ISP was $139 million in 2018, $125 million in 2017 and $122 million in 2016, representing cash contributed to the ISP by PNC.", + "The ISP is a 401(k) Plan and includes an employee stock ownership (ESOP) feature.", + "Employee contributions are invested in a number of investment options, including pre mixed portfolios and individual core funds, available under the ISP at the direction of the employee.", + "NOTE 12 STOCK BASED COMPENSATION PLANS We have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted shares, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors.", + "Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash.", + "We typically grant a substantial portion of our stock-based compensation awards during the first quarter of each year.", + "SUMMARY OF LOAN LOSS EXPERIENCE", + "|Year ended December 31 \u2013 dollars in millions|2018|2017|2016|2015|2014|\n|Allowance for loan and lease losses \u2013 January 1|$2,611|$2,589|$2,727|$3,331|$3,609|\n|Gross charge-offs||||||\n|Commercial|-108|-186|-332|-206|-276|\n|Commercial real estate|-8|-24|-26|-44|-70|\n|Equipment lease financing|-8|-11|-5|-5|-14|\n|Home equity|-110|-123|-143|-181|-275|\n|Residential real estate|-6|-9|-14|-24|-40|\n|Credit card|-217|-182|-161|-160|-163|\n|Other consumer (a)|-307|-251|-205|-185|-183|\n|Total gross charge-offs|-764|-786|-886|-805|-1,021|\n|Recoveries||||||\n|Commercial|67|81|117|170|207|\n|Commercial real estate|24|28|51|66|84|\n|Equipment lease financing|8|7|10|4|14|\n|Home equity|98|91|84|93|78|\n|Residential real estate|21|18|9|13|26|\n|Credit card|24|21|19|21|21|\n|Other consumer (a)|102|83|53|52|60|\n|Total recoveries|344|329|343|419|490|\n|Net (charge-offs)|-420|-457|-543|-386|-531|\n|Provision for credit losses|408|441|433|255|273|\n|Net decrease / (increase) in allowance for unfunded loan commitments andletters of credit|12|4|-40|-2|-17|\n|Other (b)|18|34|12|-471|-3|\n|Allowance for loan and lease losses \u2013 December 31|$2,629|$2,611|$2,589|$2,727|$3,331|\n|Allowance as a percentage of December 31:||||||\n|Loans (b)|1.16%|1.18%|1.23%|1.32%|1.63%|\n|Nonperforming loans|155%|140%|121%|128%|133%|\n|As a percentage of average loans:||||||\n|Net charge-offs|.19%|.21%|.26%|.19%|.27%|\n|Provision for credit losses|.18%|.20%|.21%|.12%|.14%|\n|Allowance for loan and lease losses (b)|1.18%|1.20%|1.24%|1.33%|1.67%|\n|Allowance as a multiple of net charge-offs|6.26x|5.71x|4.77x|7.06x|6.27x|\n", + "(a) Includes automobile, education and other consumer.", + "(b) Includes $468 million in write-offs of purchased impaired loans in 2015 due to the change in derecognition policy effective December 31, 2016 for certain consumer purchased impaired loans.", + "See Note 1 Accounting Policies in our 2015 Form 10-K for additional information.", + "The following table presents the assignment of the allowance for loan and lease losses and the categories of loans as a percentage of total loans.", + "Changes in the allocation over time reflect the changes in loan portfolio composition, risk profile and refinements to reserve methodologies.", + "ALLOCATION OF ALLOWANCE FOR LOAN AND LEASE LOSSES", + "||2018|2017|2016|2015|2014|\n|December 31 dollars in millions|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|Allowance|Loans to Total Loans|\n|Commercial|$1,350|51.6%|$1,302|50.1%|$1,179|48.1%|$1,286|47.7%|$1,209|47.6%|\n|Commercial real estate|271|12.4|244|13.1|320|13.8|281|13.3|318|11.4|\n|Equipment lease financing|42|3.2|36|3.6|35|3.6|38|3.6|44|3.7|\n|Home equity|204|11.6|284|12.9|357|14.2|484|15.5|872|16.9|\n|Residential real estate|297|8.3|300|7.8|332|7.4|307|7.0|561|7.0|\n|Credit card|239|2.8|220|2.6|181|2.5|167|2.4|173|2.3|\n|Other consumer (a)|226|10.1|225|9.9|185|10.4|164|10.5|154|11.1|\n|Total|$2,629|100.0%|$2,611|100.0%|$2,589|100.0%|$2,727|100.0%|$3,331|100.0%|\n", + "(a) Includes automobile, education and other consumer." + ], + "question_id": "simplong-test-329", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in the unrecognized tax benefits from 2012 to 2013?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Defined Contribution Plan In addition to the plans described previously, the Company\u2019s employees are generally eligible to participate in the Ameriprise Financial 401(k) Plan (the \u2018\u2018401(k) Plan\u2019\u2019).", + "The 401(k) Plan allows eligible employees to make contributions through payroll deductions up to IRS limits and invest their contributions in one or more of the 401(k) Plan investment options, which include the Ameriprise Financial Stock Fund.", + "Effective March 1, 2010, the Company matches 100% of the first 5% of eligible compensation an employee contributes on a pretax or Roth 401(k) basis for each annual period.", + "Prior to March 1, 2010, the Company matched 100% of the first 3% of base pay an employee contributed on a pretax basis each pay period.", + "Effective March 1, 2010, the Company no longer makes an annual discretionary variable match.", + "Prior to May 2009, the Company also made contributions equal to 1% of base pay each pay period, which were automatically invested in the Ameriprise Financial Stock Fund.", + "Under the 401(k) Plan, employees become eligible for contributions under the plan during the pay period they reach 60 days of service.", + "Fixed and variable match contributions and stock contributions are fully vested after five years of service, vesting ratably over the first five years of service.", + "The Company\u2019s defined contribution plan expense was $33 million, $32 million and $16 million in 2011, 2010 and 2009, respectively.", + "Threadneedle Profit Sharing Plan On an annual basis, Threadneedle employees are eligible for a profit sharing arrangement.", + "The employee profit sharing plan provides for profit sharing of 30% based on an internally defined recurring pretax operating income measure for Threadneedle, which primarily includes pretax income related to investment management services and investment portfolio income excluding gains and losses on asset disposals, certain reorganization expenses, EPP and EIP expenses and other non-recurring expenses.", + "Compensation expense related to the employee profit sharing plan was $54 million, $52 million and $32 million in 2011, 2010 and 2009, respectively.22.", + "Commitments, Guarantees and Contingencies Commitments The Company is committed to pay aggregate minimum rentals under noncancelable operating leases for office facilities and equipment in future years as follows:", + "||(in millions)|\n|2012|$97|\n|2013|88|\n|2014|83|\n|2015|73|\n|2016|61|\n|Thereafter|206|\n|Total|$608|\n", + "For the years ended December 31, 2011, 2010 and 2009, operating lease expense was $97 million, $103 million and $103 million, respectively.", + "The following table presents the Company\u2019s funding commitments:", + "||December 31,|\n||2011|2010|\n||(in millions)|\n|Commercial mortgage loan commitments|$19|$22|\n|Consumer mortgage loan commitments|730|525|\n|Consumer lines of credit|1,685|1,533|\n|Affordable housing partnerships|267|188|\n|Total funding commitments|$2,701|$2,268|\n", + "The Company\u2019s life and annuity products all have minimum interest rate guarantees in their fixed accounts.", + "As of December 31, 2011, these guarantees range up to 5%.", + "To the extent the yield on the Company\u2019s invested asset portfolio declines below its target spread plus the minimum guarantee, the Company\u2019s profitability would be negatively affected.", + "Guarantees Owing to conditions then-prevailing in the credit markets and the isolated defaults of unaffiliated structured investment vehicles held in the portfolios of money market funds advised by its Columbia Management Investment Advisers, LLC subsidiary (the \u2018\u20182a-7 Funds\u2019\u2019), the Company closely monitored the net asset value of the 2a-7 Funds during 2008 and", + "The following table presents the results of operations of our Corporate & Other segment:", + "| |Years Ended December 31,|||\n| |2011|2010|||\n| |GAAP|Less: Adjustments -1|Operating|GAAP|Less: Adjustments-1 |Operating|Operating Change|\n| |(in millions)|\n| Revenues|||||||||\n|Management and financial advice fees|$-1|$\u2014|$-1|$\u2014|$\u2014|$\u2014|$-1|NM|\n|Distribution fees|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Net investment income (loss)|68|95|-27|273|294|-21|-6|-29%|\n|Other revenues|124|94|30|153|125|28|2|7|\n|Total revenues|191|189|2|426|419|7|-5|-71|\n|Banking and deposit interest expense|-1|\u2014|-1|3|\u2014|3|-4|NM|\n|Total net revenues|192|189|3|423|419|4|-1|-25|\n| Expenses|||||||||\n|Distribution expenses|1|\u2014|1|1|\u2014|1|\u2014|\u2014|\n|Interest and debt expense|316|221|95|288|181|107|-12|-11|\n|General and administrative expense|218|70|148|185|65|120|28|23|\n|Total expenses|535|291|244|474|246|228|16|7|\n|Pretax loss|-343|-102|-241|-51|173|-224|-17|-8|\n|Less: Net income (loss) attributable to noncontrolling interests|-106|-106|\u2014|163|163|\u2014|\u2014|\u2014|\n|Pretax loss attributable to Ameriprise Financial|$-237|$4|$-241|$-214|$10|$-224|$-17|-8%|\n", + "NM Not Meaningful.", + "(1) Includes revenues and expenses of the CIEs; net realized gains or losses; and integration and restructuring charges.", + "The following table presents the components of the adjustments in the table above:", + "| |Years Ended December 31,|\n| |2011|2010 |\n| |CIEs|Other Adjustments-1 |Total Adjustments|CIEs |Other Adjustments-1 |Total Adjustments |\n| |(in millions) |\n| Revenues|||||||\n|Net investment income (loss)|$91|$4|$95|$275|$19|$294|\n|Other revenues|94|\u2014|94|125|\u2014|125|\n|Total revenues|185|4|189|400|19|419|\n|Banking and deposit interest expense|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Total net revenues|185|4|189|400|19|419|\n| Expenses|||||||\n|Distribution expenses|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Interest and debt expense|221|\u2014|221|181|\u2014|181|\n|General and administrative expense|70|\u2014|70|56|9|65|\n|Total expenses|291|\u2014|291|237|9|246|\n|Pretax loss|-106|4|-102|163|10|173|\n|Less: Net income (loss) attributable to noncontrolling interests|-106|\u2014|-106|163|\u2014|163|\n|Pretax loss attributable to Ameriprise Financial|$\u2014|$4|$4|$\u2014|$10|$10|\n", + "(1) Other adjustments include net realized gains or losses and integration and restructuring charges.", + "Our Corporate & Other segment pretax loss attributable to Ameriprise Financial was $237 million for the year ended December 31, 2011 compared to $214 million for the prior year.", + "Our Corporate & Other segment pretax operating loss excludes net realized gains or losses, integration and restructuring charges and the impact of consolidating CIEs.", + "Our Corporate & Other segment pretax operating loss was $241 million for the year ended December 31, 2011 compared to $224 million for the prior year.", + "Net revenues decreased $231 million, or 55%, to $192 million for the year ended December 31, 2011 compared to $423 million for the prior year reflecting the impact of consolidating CIEs.", + "Operating net revenues, which exclude revenues or losses of CIEs and net realized gains or losses, decreased $1 million, or 25%, to $3 million for the year ended December 31, 2011 compared to $4 million for the prior year.", + "Notes to the Consolidated Financial Statements repatriation of undistributed earnings of non-U.", + "S. subsidiaries as of December 31, 2013 and December 31, 2012 would have resulted in a U. S. tax cost of approximately $250 million and $110 million, respectively.", + "The Company files federal, state and local income tax returns in numerous domestic and foreign jurisdictions.", + "In most tax jurisdictions, returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed.", + "The Company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2006.", + "Additionally, the Internal Revenue Service has completed its examination of the Company\u2019s U. S. federal income tax returns filed for years through 2010.", + "The examination of the Company\u2019s U. S. federal income tax return for 2011 is currently underway and is expected to be finalized during 2014.", + "A reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties) as of December 31 follows:", + "|(Millions)|2013|2012|2011|\n|Balance at January 1|$82|$107|$111|\n|Additions based on tax positions related to the current year|12|12|15|\n|Additions for tax positions of prior years|9|2|17|\n|Reductions for tax positions of prior years|-10|-12|-19|\n|Pre-acquisition unrecognized tax benefits|\u2014|2|\u2014|\n|Reductions for expiration of the applicable statute of limitations|-10|-6|-7|\n|Settlements|\u2014|-23|-8|\n|Foreign currency translation|2|\u2014|-2|\n|Balance at December 31|$85|$82|$107|\n", + "The Company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant.", + "The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $81 million as of December 31, 2013.", + "The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.", + "As of December 31, 2013, 2012 and 2011, the Company had liabilities for estimated interest and penalties on unrecognized tax benefits of $9 million, $10 million and $15 million, respectively.", + "The Company recognized $2 million and $5 million of income in 2013 and 2012, respectively, related to the reduction of estimated interest and penalties.", + "The Company recognized no income or expense for estimated interest and penalties during the year ended December 31, 2011.13.", + "Pensions and Other Postretirement Benefits Defined Benefit Plans PPG has defined benefit pension plans that cover certain employees worldwide.", + "The principal defined benefit pension plans are those in the U. S. , Canada, the Netherlands and the U. K. which, in the aggregate represent approximately 91% of the projected benefit obligation at December 31, 2013, of which the U. S. defined benefit pension plans represent the majority.", + "PPG also sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain U. S. and Canadian employees and their dependents.", + "These programs require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between PPG and participants based on management discretion.", + "The Company has the right to modify or terminate certain of these benefit plans in the future.", + "Salaried and certain hourly employees in the U. S. hired on or after October 1, 2004, or rehired on or after October 1, 2012 are not eligible for postretirement medical benefits.", + "Salaried employees in the U. S. hired, rehired or transferred to salaried status on or after January 1, 2006, and certain U. S. hourly employees hired in 2006 or thereafter are eligible to participate in a defined contribution retirement plan.", + "These employees are not eligible for defined benefit pension plan benefits.", + "Plan Design Changes In January 2011, the Company approved an amendment to one of its U. S. defined benefit pension plans that represented about 77% of the total U. S. projected benefit obligation at December 31, 2011.", + "Depending upon the affected employee's combined age and years of service to PPG, this change resulted in certain employees no longer accruing benefits under this plan as of December 31, 2011, while the remaining employees will no longer accrue benefits under this plan as of December 31, 2020.", + "The affected employees will participate in the Company\u2019s defined contribution retirement plan from the date their benefit under the defined benefit plan is frozen.", + "The Company remeasured the projected benefit obligation of this amended plan, which lowered 2011 pension expense by approximately $12 million.", + "The Company made similar changes to certain other U. S. defined benefit pension plans in 2011.", + "The Company recognized a curtailment loss and special termination benefits associated with these plan amendments of $5 million in 2011.", + "The Company plans to continue reviewing and potentially changing other PPG defined benefit plans in the future.", + "Separation and Merger of Commodity Chemicals Business On January 28, 2013, PPG completed the separation of its commodity chemicals business and the merger of the subsidiary holding the PPG commodity chemicals business with a subsidiary of Georgia Gulf, as discussed in Note 22, \u201cSeparation and Merger Transaction.", + "\u201d PPG transferred the defined benefit pension plan and other postretirement benefit liabilities for the affected employees in the U. S. , Canada, and Taiwan in the separation resulting in a net partial settlement loss of $33 million" + ], + "question_id": "simplong-test-330", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the sum of all elements that are positive for Auto & Home? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of the Company\u2019s common stock with (1) the Standard & Poor\u2019s (S&P) 500?", + "Index, (2) the S&P 500?", + "Materials Index, a group of 25 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector, (3) the S&P Aerospace & Defense Select Industry Index, a group of 33 companies categorized by Standard & Poor\u2019s as active in the \u201caerospace & defense\u201d industry and (4) the S&P 500?", + "Industrials Index, a group of 69 companies categorized by Standard & Poor\u2019s as active in the \u201cindustrials\u201d market sector.", + "The graph assumes, in each case, an initial investment of $100 on December 31, 2013, and the reinvestment of dividends.", + "Historical prices prior to the separation of Alcoa Corporation from the Company on November 1, 2016, have been adjusted to reflect the value of the Separation transaction.", + "The graph, table and related information shall not be deemed to be \u201cfiled\u201d with the SEC, nor shall such information be incorporated by reference into future filings under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.", + "Please note that the Company intends to replace the S&P 500?", + "Materials Index with the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index in subsequent stock performance graphs.", + "We believe that the companies and industries represented in the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index better reflect the markets in which the Company currently participates.", + "All three indices are represented in the graph below.", + "|As of December 31,|2013|2014|2015|2016|2017|2018|\n|Arconic Inc.|$100|$149.83|$94.62|$80.22|$119.02|$74.47|\n|S&P 500\u00aeIndex|100|113.69|115.26|129.05|157.22|150.33|\n|S&P 500\u00aeMaterials Index|100|106.91|97.95|114.30|141.55|120.74|\n|S&P Aerospace & Defense Select Industry Index|100|111.43|117.49|139.70|197.50|181.56|\n|S&P 500\u00aeIndustrials Index|100|109.83|107.04|127.23|153.99|133.53|\n", + "Copyright?2019 Standard & Poor's, a division of S&P Global.", + "All rights reserved", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2010|$415|$15|$287|\n|2011|$357|$17|$237|\n|2012|$288|$16|$190|\n|2013|$253|$15|$169|\n|2014|$221|$9|$119|\n|Thereafter|$723|$44|$994|\n", + "During 2008, the Company moved certain of its operations in New York from Long Island City to New York City.", + "As a result of this movement of operations and current market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Banking, Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "During 2009, pending sublease deals were impacted by the further decline of market conditions, which resulted in an additional lease impairment charge of $52 million.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.1 billion and $4.5 billion at December 31, 2009 and 2008, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $2.7 billion and $8.0 billion at December 31, 2009 and 2008, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards in Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $2.2 billion and $2.7 billion at December 31, 2009 and 2008, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.3 billion and $1.0 billion at December 31, 2009 and 2008, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.6 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Options.", + "Additional shares carried forward from the Stock Incentive Plan and available for issuance under the 2005 Stock Plan were 13,018,939 at December 31, 2009.", + "There were no shares carried forward from the 2000 Directors Stock Plan.", + "Each share issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares.", + "The number of shares reserved for issuance under the 2005 Directors Stock Plan are 2,000,000.", + "At December 31, 2009, the aggregate number of shares remaining available for issuance pursuant to the 2005 Stock Plan and the 2005 Directors Stock Plan were 47,903,044 and 1,838,594, respectively.", + "Stock Option exercises and other stock-based awards to employees settled in shares are satisfied through the issuance of shares held in treasury by the Company.", + "Under the current authorized share repurchase program, as described previously, sufficient treasury shares exist to satisfy foreseeable obligations under the Incentive Plans.", + "Compensation expense related to awards under the Incentive Plans is recognized based on the number of awards expected to vest, which represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant.", + "Unless a material deviation from the assumed rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual experience is recognized in the period the award becomes payable or exercisable.", + "Compensation expense of $69 million, $123 million and $146 million, and income tax benefits of $24 million, $43 million and $51 million, related to the Incentive Plans was recognized for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Compensation expense is principally related to the issuance of Stock Options, Performance Shares and Restricted Stock Units.", + "The majority of the awards granted by the Holding Company are made in the first quarter of each year.", + "Stock Options All Stock Options granted had an exercise price equal to the closing price of the Holding Company\u2019s common stock as reported on the New York Stock Exchange on the date of grant, and have a maximum term of ten years.", + "Certain Stock Options granted under the Stock Incentive Plan and the 2005 Stock Plan have or will become exercisable over a three year period commencing with the date of grant, while other Stock Options have or will become exercisable three years after the date of grant.", + "Stock Options issued under the 2000 Directors Stock Plan were exercisable immediately.", + "The date at which a Stock Option issued under the 2005 Directors Stock Plan becomes exercisable would be determined at the time such Stock Option is granted.", + "A summary of the activity related to Stock Options for the year ended December 31, 2009 is presented below.", + "The aggregate intrinsic value was computed using the closing share price on December 31, 2009 of $35.35 and December 31, 2008 of $34.86, as applicable.", + "||Shares Under| Weighted Average | Weighted Average Remaining Contractual Term (Years)| Aggregate Intrinsic Value (In millions)|\n||Option| Exercise Price|\n|Outstanding at January 1, 2009|26,158,275|$41.73|5.73|$\u2014|\n|Granted|5,450,662|$23.61|||\n|Exercised|-254,576|$30.23|||\n|Cancelled/Expired|-794,655|$39.79|||\n|Forfeited|-407,301|$48.72|||\n|Outstanding at December 31, 2009|30,152,405|$38.51|5.50|$\u2014|\n|Aggregate number of stock options expected to vest at December 31, 2009|29,552,636|$38.58|5.43|$\u2014|\n|Exercisable at December 31, 2009|21,651,876|$38.94|4.28|$\u2014|\n", + "The fair value of Stock Options is estimated on the date of grant using a binomial lattice model.", + "Significant assumptions used in the Company\u2019s binomial lattice model, which are further described below, include: expected volatility of the price of the Holding Company\u2019s common stock; risk-free rate of return; expected dividend yield on the Holding Company\u2019s common stock; exercise multiple; and the post\u0002vesting termination rate.", + "Expected volatility is based upon an analysis of historical prices of the Holding Company\u2019s common stock and call options on that common stock traded on the open market.", + "The Company uses a weighted-average of the implied volatility for publicly-traded call options with the longest remaining maturity nearest to the money as of each valuation date and the historical volatility, calculated using monthly closing prices of the Holding Company\u2019s common stock.", + "The Company chose a monthly measurement interval for historical volatility as it believes this better depicts the nature of employee option exercise decisions being based on longer-term trends in the price of the underlying shares rather than on daily price movements.", + "The binomial lattice model used by the Company incorporates different risk-free rates based on the imputed forward rates for U. S. Treasury Strips for each year over the contractual term of the option.", + "The table below presents the full range of rates that were used for options granted during the respective periods.", + "Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the Stock Option.", + "Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses Year Ended December 31, 2009", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home|International|Banking Corporate & Other|Total|\n||||(In millions)||||\n|Total revenues|$23,483|$3,543|$5,669|$3,113|$4,383|$867|$41,058|\n|Less: Net investment gains (losses)|-2,258|-1,606|-2,260|-2|-903|-743|-7,772|\n|Less: Adjustments related to net investment gains (losses)|-27|\u2014|\u2014|\u2014|\u2014|\u2014|-27|\n|Less: Other adjustments to revenues|-74|-217|187|\u2014|-169|22|-251|\n|Total operating revenues|$25,842|$5,366|$7,742|$3,115|$5,455|$1,588|$49,108|\n|Total expenses|$24,165|$4,108|$6,982|$2,697|$4,868|$2,571|$45,391|\n|Less: Adjustments related to net investment gains (losses)|39|-739|\u2014|\u2014|\u2014|\u2014|-700|\n|Less: Other adjustments to expenses|-1|\u2014|64|\u2014|37|38|138|\n|Total operating expenses|$24,127|$4,847|$6,918|$2,697|$4,831|$2,533|$45,953|\n", + "Year Ended December 31, 2008", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home| International|Banking Corporate & Other|Total|\n||(In millions)|\n|Total revenues|$26,754|$5,630|$7,559|$3,061|$6,001|$1,979|$50,984|\n|Less: Net investment gains (losses)|1,558|901|-1,629|-134|169|947|1,812|\n|Less: Adjustments related to net investment gains (losses)|18|\u2014|\u2014|\u2014|\u2014|\u2014|18|\n|Less: Other adjustments to revenues|-1|-35|45|\u2014|69|13|91|\n|Total operating revenues|$25,179|$4,764|$9,143|$3,195|$5,763|$1,019|$49,063|\n|Total expenses|$23,418|$5,049|$7,735|$2,728|$5,044|$1,949|$45,923|\n|Less: Adjustments related to net investment gains (losses)|262|577|\u2014|\u2014|\u2014|\u2014|839|\n|Less: Other adjustments to expenses|-52|\u2014|-29|\u2014|17|-4|-68|\n|Total operating expenses|$23,208|$4,472|$7,764|$2,728|$5,027|$1,953|$45,152|\n", + "Less: Adjustments related to net investment gains", + "The volatile market conditions that began in 2008 and continued into 2009 impacted several key components of our operating earnings available to common shareholders including net investment income, hedging costs, and certain market sensitive expenses.", + "The markets also positively impacted our operating earnings available to common shareholders as conditions began to improve during 2009, resulting in lower DAC and DSI amortization.", + "A $722 million decline in net investment income was the result of decreasing yields, including the effects of our higher quality, more liquid, but lower yielding investment position in response to the extraordinary market conditions.", + "The impact of declining yields caused a $1.6 billion decrease in net investment income, which was partially offset by an increase of $846 million due to growth in average invested assets calculated excluding unrealized gains and losses.", + "The decrease in yields resulted from the disruption and dislocation in the global financial markets experienced in 2008, which continued, but moderated, in 2009.", + "The adverse yield impact was concentrated in the following four invested asset classes: ?", + "Fixed maturity securities \u2014 primarily due to lower yields on floating rate securities from declines in short-term interest rates and an increased allocation to lower yielding, higher quality, U. S. Treasury, agency and government guaranteed securities, to increase liquidity in response to the extraordinary market conditions, as well as decreased income on our securities lending program, primarily due to the smaller size of the program in the current year.", + "These adverse impacts were offset slightly as conditions improved late in 2009 and we began to reallocate our portfolio to higher-yielding assets; ?", + "Real estate joint ventures \u2014 primarily due to declining property valuations on certain investment funds that carry their real estate at estimated fair value and operating losses incurred on properties that were developed for sale by development joint ventures; ?", + "Cash, cash equivalents and short-term investments \u2014 primarily due to declines in short-term interest rates; and ?", + "Mortgage loans \u2014 primarily due to lower prepayments on commercial mortgage loans and lower yields on variable rate loans reflecting declines in short-term interest rates.", + "Equity markets experienced some recovery in 2009, which led to improved yields on other limited partnership interests.", + "As many of our products are interest spread-based, the lower net investment income was significantly offset by lower interest credited expense on our investment and insurance products.", + "The financial market conditions also resulted in a $348 million increase in net guaranteed annuity benefit costs in our Retirement Products segment, as increased hedging losses were only partially offset by lower guaranteed benefit costs.", + "The key driver of the increase in other expenses stemmed from the impact of market conditions on certain expenses, primarily pension and postretirement benefit costs, reinsurance expenses and letter of credit fees.", + "These increases coupled with higher variable costs, such as" + ], + "question_id": "simplong-test-331", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the section with the most Liquid hydrocarbons(mmbbl), what is the growth rate of Natural gas(bcf)?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Marathon maintains an equity compensation program for its non-employee directors under the Plan.", + "Pursuant to the program, non-employee directors must defer 50% of their annual retainers in the form of common stock units.", + "In addition, the program provides each non-employee director with a matching grant of up to 1,000 shares of common stock upon his or her initial election to the board if he or she purchases an equivalent number of shares within 60 days of joining the board.", + "Common stock units are book entry units equal in value to a share of stock.", + "During 2003, 15,799 shares of stock were issued; during 2002, 14,472 shares of stock were issued and during 2001, 12,358 shares of stock were issued.26.", + "Stockholder Rights Plan In 2002, the Marathon\u2019s stockholder rights plan (the Rights Plan), was amended due to the Separation.", + "In January 2003, the expiration date of the Rights Plan was accelerated to January 31, 2003.27.", + "Leases Marathon leases a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.", + "Most long-term leases include renewal options and, in certain leases, purchase options.", + "Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having remaining noncancelable lease terms in excess of one year are as follows:", + "| (In millions) | Capital Lease Obligations |Operating Lease Obligations|\n|2004|$29|$108|\n|2005|20|80|\n|2006|26|67|\n|2007|34|38|\n|2008|26|31|\n|Later years|127|131|\n|Sublease rentals|\u2013|-77|\n|Total minimum lease payments|262|$378|\n|Less imputed interest costs|81||\n|Present value of net minimum lease payments included in long-term debt|$181||\n", + "In connection with past sales of various plants and operations, Marathon assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.", + "In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, Marathon remains primarily obligated for payments under these leases.", + "Minimum lease payments under these operating lease obligations of $54 million have been included above and an equal amount has been reported as sublease rentals.", + "Of the $181 million present value of net minimum capital lease payments, $135 million was related to obligations assumed by United States Steel under the Financial Matters Agreement.", + "Of the $378 million total minimum operating lease payments, $18 million was assumed by United States Steel under the Financial Matters Agreement.", + "During 2003, Marathon purchased two LNG tankers to transport LNG primarily from Kenai, Alaska to Tokyo, Japan which were previously leased.", + "A $17 million charge was recorded on the termination of the two tanker operating leases.", + "Operating lease rental expense was:", + "| (In millions) |2003 $182(a)|2002 $196(a)|2001 $159|\n|Minimum rental|\n|Contingent rental|15|13|13|\n|Sublease rentals|-9|-11|-11|\n|Net rental expense|$188|$198|$161|\n", + "(a) Excludes $23 million and $24 million paid by United States Steel in 2003 and 2002 on assumed leases.", + "The above discussion contains forward-looking statements with regard to the Jackpine mine expansion and Quest CCS.", + "Some factors that could affect the Jackpine mine expansion include the inability to obtain or delay in obtaining third-party approvals and permits.", + "The Quest CCS is subject to the inability to obtain or delay in obtaining government funds, the availability of materials and labor, unforeseen hazards such as weather conditions and other risks customarily associated with these types of projects.", + "Actual results may differ materially from these expectations, estimates and projections and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and difficult to predict.", + "The foregoing factors (among others) could cause actual results to differ materially from those set forth in the forward-looking statements.", + "Reserves Estimated Reserve Quantities The following table sets forth estimated quantities of our proved liquid hydrocarbon, natural gas and synthetic crude oil reserves based upon an unweighted average of closing prices for the first day of each month in the 12-month periods ended December 31, 2013, 2012 and 2011.", + "Included in our liquid hydrocarbon reserves are NGLs which represent approximately 7 percent, 6 percent and 5 percent of our total proved reserves on an oil equivalent barrel basis as of December 2013, 2012 and 2011.", + "Approximately 72 percent, 63 percent and 40 percent of those NGL reserves are associated with our U. S. unconventional resource plays as of December 31, 2013, 2012 and 2011.", + "Reserves are disclosed by continent and by country if the proved reserves related to any geographic area, on an oil equivalent barrel basis, represent 15 percent or more of our total proved reserves.", + "A geographic area can be an individual country, group of countries within a continent, or a continent.", + "Due to the agreements entered in 2013 to sell our Angola assets, estimated proved reserves for Angola are reported as discontinued operations (\"Disc Ops\") for all presented periods.", + "Approximately 73 percent of our December 31, 2013 proved reserves are located in OECD countries.", + "||North America|Africa|Europe Total|||\n|December 31, 2013|U.S.|Canada|Total|E.G.|Other|Total|Disc Ops|GrandTotal|\n|Proved Developed Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|292|\u2014|292|55|176|231|78|19|620|\n|Natural gas(bcf)|540|\u2014|540|823|95|918|41|\u2014|1,499|\n|Synthetic crude oil(mmbbl)|\u2014|674|674|\u2014|\u2014|\u2014|\u2014|\u2014|674|\n|Total proved developed reserves(mmboe)|382|674|1,056|193|192|385|84|19|1,544|\n|Proved Undeveloped Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|324|\u2014|324|43|39|82|11|9|426|\n|Natural gas(bcf)|485|\u2014|485|497|110|607|80|\u2014|1,172|\n|Synthetic crude oil(mmbbl)|\u2014|6|6|\u2014|\u2014|\u2014|\u2014|\u2014|6|\n|Total proved undeveloped reserves(mmboe)|405|6|411|125|57|182|25|9|627|\n|Total Proved Reserves||||||||||\n|Liquid hydrocarbons(mmbbl)|616|\u2014|616|98|215|313|89|28|1,046|\n|Natural gas(bcf)|1,025|\u2014|1,025|1,320|205|1,525|121|\u2014|2,671|\n|Synthetic crude oil(mmbbl)|\u2014|680|680|\u2014|\u2014|\u2014|\u2014|\u2014|680|\n|Total proved reserves(mmboe)|787|680|1,467|318|249|567|109|28|2,171|\n", + "discount to Brent was narrower in 2013 than in 2012 and 2011.", + "As a result of the significant increase in U. S. production of light sweet crude oil, the historical relationship between WTI, Brent and LLS pricing may not be indicative of future periods.", + "Composition \u2013 The proportion of our liquid hydrocarbon sales volumes that are NGLs continues to increase due to our development of United States unconventional liquids-rich plays.", + "NGLs were 15 percent of our North America E&P liquid hydrocarbon sales volumes in 2013 compared to 10 percent in 2012 and 7 percent in 2011.", + "Natural gas \u2013 A significant portion of our natural gas production in the U. S. is sold at bid-week prices, or first-of-month indices relative to our specific producing areas.", + "Average Henry Hub settlement prices for natural gas were 31 percent higher for 2013 than for 2012. International E&P Liquid hydrocarbons \u2013 Our International E&P crude oil production is relatively sweet and has historically sold in relation to the Brent crude benchmark, which on average was 3 percent lower for 2013 than 2012.", + "Natural gas \u2013 Our major International E&P natural gas-producing regions are Europe and E. G. Natural gas prices in Europe have been considerably higher than the U. S. in recent years.", + "In the case of E. G. , our natural gas sales are subject to term contracts, making realized prices in these areas less volatile.", + "The natural gas sales from E. G. are at fixed prices; therefore, our reported average International E&P natural gas realized prices may not fully track market price movements.", + "Oil Sands Mining The Oil Sands Mining segment produces and sells various qualities of synthetic crude oil.", + "Output mix can be impacted by operational problems or planned unit outages at the mines or upgrader.", + "Sales prices for roughly two-thirds of the normal output mix has historically tracked movements in WTI and one-third has historically tracked movements in the Canadian heavy crude oil marker, primarily WCS.", + "The WCS discount to WTI has been increasing on average in each year presented below.", + "Despite a wider WCS discount in 2013, our average Oil Sands Mining price realizations increased due to a greater proportion of higher value synthetic crude oil sales volumes compared to 2012.", + "The operating cost structure of the Oil Sands Mining operations is predominantly fixed and therefore many of the costs incurred in times of full operation continue during production downtime.", + "Per-unit costs are sensitive to production rates.", + "Key variable costs are natural gas and diesel fuel, which track commodity markets such as the AECO natural gas sales index and crude oil prices, respectively.", + "The table below shows average benchmark prices that impact both our revenues and variable costs:", + "|Benchmark|2013|2012|2011|\n|WTI crude oil(Dollars per bbl)|$98.05|$94.15|$95.11|\n|WCS(Dollars per bbl)(a)|$72.77|$73.18|$77.97|\n|AECO natural gas sales index(Dollars per mmbtu)(b)|$3.08|$2.39|$3.68|\n", + "Provision for income taxes increased $1,791 million in 2012 from 2011 primarily due to the increase in pretax income from continuing operations, including the impact of the resumption of sales in Libya in the first quarter of 2012.", + "The following is an analysis of the effective income tax rates for 2012 and 2011:", + "||2012|2011|\n|Statutory rate applied to income from continuing operations before income taxes|35%|35%|\n|Effects of foreign operations, including foreign tax credits|18|6|\n|Change in permanent reinvestment assertion|\u2014|5|\n|Adjustments to valuation allowances|21|14|\n|Tax law changes|\u2014|1|\n|Effective income tax rate on continuing operations|74%|61%|\n", + "The effective income tax rate is influenced by a variety of factors including the geographic sources of income and the relative magnitude of these sources of income.", + "The provision for income taxes is allocated on a discrete, stand-alone basis to pretax segment income and to individual items not allocated to segments.", + "The difference between the total provision and the sum of the amounts allocated to segments appears in the \"Corporate and other unallocated items\" shown in the reconciliation of segment income to net income below.", + "Effects of foreign operations \u2013 The effects of foreign operations on our effective tax rate increased in 2012 as compared to 2011, primarily due to the resumption of sales in Libya in the first quarter of 2012, where the statutory rate is in excess of 90 percent.", + "Change in permanent reinvestment assertion \u2013 In the second quarter of 2011, we recorded $716 million of deferred U. S. tax on undistributed earnings of $2,046 million that we previously intended to permanently reinvest in foreign operations.", + "Offsetting this tax expense were associated foreign tax credits of $488 million.", + "In addition, we reduced our valuation allowance related to foreign tax credits by $228 million due to recognizing deferred U. S. tax on previously undistributed earnings.", + "Adjustments to valuation allowances \u2013 In 2012 and 2011, we increased the valuation allowance against foreign tax credits because it is more likely than not that we will be unable to realize all U. S. benefits on foreign taxes accrued in those years.", + "See Item 8.", + "Financial Statements and Supplementary Data - Note 10 to the consolidated financial statements for further information about income taxes.", + "Discontinued operations is presented net of tax, and reflects our downstream business that was spun off June 30, 2011 and our Angola business which we agreed to sell in 2013.", + "See Item 8.", + "Financial Statements and Supplementary Data \u2013 Notes 3 and 6 to the consolidated financial statements for additional information." + ], + "question_id": "simplong-test-332", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what percentage of non-cash impairment charges came from real estate under development?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Latin American Investments During 2009, the Company acquired a land parcel located in Rio Clara, Brazil through a newly formed consolidated joint venture in which the Company has a 70% controlling ownership interest for a purchase price of 3.3 million Brazilian Reals (approximately USD $1.5 million).", + "This parcel will be developed into a 48,000 square foot retail shopping center.", + "Additionally, during 2009, the Company acquired a land parcel located in San Luis Potosi, Mexico, through an unconsolidated joint venture in which the Company has a noncontrolling interest, for an aggregate purchase price of approximately $0.8 million.", + "The Company recognized equity in income from its unconsolidated Mexican investments in real estate joint ventures of approximately $7.0 million, $17.1 million, and $5.2 million during 2009, 2008 and 2007, respectively.", + "The Company recognized equity in income from its unconsolidated Chilean investments in real estate joint ventures of approximately $0.4 million, $0.2 and $0.1 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Mexican subsidiaries aggregated approximately $23.4 million, $20.3 million, $8.5 million during 2009, 2008 and 2007, respectively.", + "The Company\u2019s revenues from its consolidated Brazilian subsidiaries aggregated approximately $1.5 million and $0.4 million during 2009 and 2008, respectively.", + "The Company\u2019s revenues from its consolidated Chilean subsidiaries aggregated less than $100,000 during 2009 and 2008, respectively.", + "Mortgages and Other Financing Receivables During 2009, the Company provided financing to five borrowers for an aggregate amount of approximately $8.3 million.", + "During 2009, the Company received an aggregate of approximately $40.4 million which fully paid down the outstanding balance on four mortgage receivables.", + "As of December 31, 2009, the Company had 37 loans with total commitments of up to $178.9 million, of which approximately $131.3 million has been funded.", + "Availability under the Company\u2019s revolving credit facilities are expected to be sufficient to fund these remaining commitments.", + "(See Note 10 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. ) Asset Impairments On a continuous basis, management assesses whether there are any indicators, including property operating performance and general market conditions, that the value of the Company\u2019s assets (including any related amortizable intangible assets or liabilities) may be impaired.", + "To the extent impairment has occurred, the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset.", + "During 2009, economic conditions had continued to experience volatility resulting in further declines in the real estate and equity markets.", + "Year over year increases in capitalization rates, discount rates and vacancies as well as the deterioration of real estate market fundamentals, negatively impacted net operating income and leasing which further contributed to declines in real estate markets in general.", + "As a result of the volatility and declining market conditions described above, as well as the Company\u2019s strategy in relation to certain of its non-retail assets, the Company recognized non-cash impairment charges during 2009, aggregating approximately $175.1 million, before income tax benefit of approximately $22.5 million and noncontrolling interests of approximately $1.2 million.", + "Details of these non-cash impairment charges are as follows (in millions):", + "|Impairment of property carrying values|$50.0|\n|Real estate under development|2.1|\n|Investments in other real estate investments|49.2|\n|Marketable securities and other investments|30.1|\n|Investments in real estate joint ventures|43.7|\n|Total impairment charges|$175.1|\n", + "(See Notes 2, 6, 8, 9, 10 and 11 of the Notes to Consolidated Financial Statements included in this annual report on Form 10-K. )", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 13.", + "Stockholders\u2019 Equity \u2014 (continued) Dividend Restrictions and Payments The certificates of designation for the Series A and B Preferred Stock restrict the declaration of preferred dividends if we fail to meet specified capital adequacy, net income or stockholders\u2019 equity levels.", + "As of December 31, 2010, we have no preferred dividend restrictions.", + "On March 30, 2010, June 30, 2010, September 30, 2010 and December 30, 2010, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 11, 2010, June 10, 2010, September 9, 2010 and December 9, 2010, respectively.", + "On March 30, 2009, June 30, 2009, September 30, 2009 and December 30, 2009, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 12, 2009, June 11, 2009, September 10, 2009 and December 14, 2009, respectively.", + "On March 31, 2008, June 30, 2008, September 30, 2008 and December 30, 2008, we paid a dividend of $8.2 million, $8.3 million, $8.2 million and $8.3 million, respectively, equal to $1.39 per share on Series A non-cumulative perpetual preferred stock and equal to $0.41 per share on Series B non-cumulative perpetual preferred stock.", + "Dividends were paid to stockholders of record as of March 13, 2008, June 12, 2008, September 11, 2008 and December 11, 2008, respectively.", + "Common Stock On December 3, 2010, we paid an annual dividend of $176.2 million, equal to $0.55 per share, to stockholders of record as of November 19, 2010.", + "On December 4, 2009, we paid an annual dividend of $159.5 million, equal to $0.50 per share, to stockholders of record as of November 13, 2009.", + "On December 5, 2008, we paid an annual dividend of $116.7 million, equal to $0.45 per share, to stockholders of record as of November 14, 2008.", + "Reconciliation of Outstanding Shares", + "| | Series A preferred stock| Series B preferred stock|Common stock|\n| |(in millions)|\n|Outstanding shares at January 1, 2008|3.0|10.0|259.1|\n|Shares issued|\u2014|\u2014|1.2|\n|Treasury stock acquired|\u2014|\u2014|-1.0|\n|Outstanding shares at December 31, 2008|3.0|10.0|259.3|\n|Shares issued|\u2014|\u2014|60.0|\n|Treasury stock acquired|\u2014|\u2014|-0.3|\n|Outstanding shares at December 31, 2009|3.0|10.0|319.0|\n|Shares issued|\u2014|\u2014|1.5|\n|Treasury stock acquired|\u2014|\u2014|-0.1|\n|Outstanding shares at December 31, 2010| 3.0| 10.0|320.4|\n", + "On May 11, 2009, we issued 58.2 million shares of common stock at a price of $19.75 per share.", + "Net proceeds from the issuance were $1,109.1 million.", + "The proceeds from this offering will be used for general corporate purposes.", + "During November 2007, our Board of Directors authorized a share repurchase program of up to $500.0 million of our outstanding common stock.", + "On November 30, 2007, we entered into an accelerated common stock repurchase agreement with a third party investment bank for an aggregate purchase price of $250.0 million.", + "On this date, we paid $250.0 million and received the initial delivery of 2.9 million common shares, while retaining the right to receive additional common shares over the program\u2019s execution period.", + "The accelerated common stock repurchase agreement was completed in January 2008, at which time we received 0.9 million additional common shares under this agreement.", + "In the fourth quarter of 2008, we suspended purchases of the remaining $250.0 million available under the November 2007 authorization.", + "Our Board of Directors has authorized various repurchase programs under which we are allowed to purchase shares of our outstanding common stock.", + "Shares repurchased under these programs are accounted for as treasury stock, carried at cost and reflected as a reduction to stockholders\u2019 equity.", + "Principal Financial Group, Inc. Notes to Consolidated Financial Statements \u2014 (continued) 19.", + "Quarterly Results of Operations (Unaudited) The following is a summary of unaudited quarterly results of operations.", + "| | For the three months ended|\n| | December 31| September 30 -1| June 30 -2| March 31|\n| |(in millions, except per share data) |\n| 2010|||||\n|Total revenues|$2,372.5|$2,288.5|$2,233.6|$2,264.0|\n|Total expenses|2,108.8|2,125.0|2,075.8|2,007.7|\n|Net income|218.1|151.3|144.2|203.6|\n|Net income available to common stockholders|199.3|142.2|134.0|190.8|\n|Basic earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.60|\n|Diluted earnings per common share for net income available to common stockholders|0.62|0.44|0.42|0.59|\n| 2009|||||\n|Total revenues|$2,232.4|$2,270.3|$2,157.8|$2,188.6|\n|Total expenses|2,062.9|2,022.0|1,959.9|2,058.5|\n|Net income|154.9|204.2|164.0|122.6|\n|Net income available to common stockholders|141.9|184.7|150.3|112.8|\n|Basic earnings per common share for net income available to common stockholders|0.44|0.58|0.52|0.43|\n|Diluted earnings per common share for net income available to common stockholders|0.44|0.57|0.52|0.43|\n", + "(1) During the third quarter of 2009, we discovered a prior period error related to DPAC amortization of certain contracts in our full service accumulation business.", + "We evaluated the materiality of the error from qualitative and quantitative perspectives and concluded it was not material to any prior periods.", + "The correction of the error in the third quarter of 2009 could be considered material to the results of operations for the three months ended September 30, 2009, but is not material to the results of operations for any annual period presented.", + "Accordingly, we made an adjustment in the third quarter of 2009 that resulted in a decrease in DPAC amortization expense.", + "On an after-tax basis, the adjustment for prior periods resulted in an $18.9 million increase in net income for the three months ended September 30, 2009.", + "(2) During the second quarter of 2010, we determined our residential mortgage loan portfolio, and in particular our home equity loan portfolio, had experienced an increase in severe delinquencies and loss severity from sustained elevated levels of unemployment along with continued depressed collateral values.", + "The deterioration resulted in an increase in delinquencies and default costs.", + "During the second quarter of 2010, we recorded a $41.9 million after-tax residential mortgage loan loss provision for our Bank and Trust Services business.", + "Of this residential mortgage loan loss provision, $21.4 million after-tax could be attributed to 2009.", + "We evaluated the qualitative and quantitative factors for materiality.", + "The adjustment related to prior periods could be considered material to the results of operations for the three months ended June 30, 2010, but was not material to the results of operations for any annual period presented.", + "The provision for loan loss is reported in net realized capital gains (losses) on our consolidated statements of operations and the adjustment for prior periods resulted in a decrease in net income for the three months ended June 30, 2010.20.", + "Condensed Consolidating Financial Information Principal Life has established special purpose entities to issue secured medium-term notes.", + "Under the program, the payment obligations of principal and interest on the notes are secured by funding agreements issued by Principal Life.", + "Principal Life\u2019s payment obligations on the funding agreements are fully and unconditionally guaranteed by PFG.", + "All of the outstanding stock of Principal Life is indirectly owned by PFG and PFG is the only guarantor of the payment obligations of the funding agreements.", + "The following tables set forth condensed consolidating financial information of (i) PFG, (ii) Principal Life, (iii) Principal Financial Services, Inc. (\u2018\u2018PFS\u2019\u2019) and all other direct and indirect subsidiaries of PFG on a combined basis and (iv) the eliminations necessary to arrive at the information for PFG on a consolidated basis as of December 31, 2010 and 2009, and for the years ended December 31, 2010, 2009 and 2008.", + "In presenting the condensed consolidating financial statements, the equity method of accounting has been applied to (i) PFG\u2019s interest in PFS, (ii) Principal Life\u2019s interest in all direct subsidiaries of Principal Life and (iii) PFS\u2019s interest in Principal Life even though all such subsidiaries meet the requirements to be consolidated under U. S. GAAP.", + "Earnings of subsidiaries are, therefore, reflected in the parent\u2019s investment and earnings.", + "All intercompany balances and transactions, including elimination of the parent\u2019s investment in subsidiaries, between PFG, Principal Life and PFS and all other subsidiaries have been eliminated, as shown in the column \u2018\u2018Eliminations and Other.", + "\u2019\u2019 These condensed consolidating financial statements should be read in conjunction with the consolidated financial statements.", + "The financial information", + "exposures.", + "We are not relying on said guarantors and are directly evaluating exposure to these investments.", + "The following table presents our top ten exposures as of December 31, 2010." + ], + "question_id": "simplong-test-333", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with larger amount for Europe, what's the increasing rate of the amount for Asia-Pacific ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "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\u2019 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\u2019 operating results included the following (in millions):", + "||2015|2014|2013|\n|Net sales|$15,570|$14,920|$14,123|\n|Operating profit|1,681|1,649|1,612|\n|Operating margins|10.8%|11.1%|11.4%|\n|Backlog at year-end|$31,800|$27,600|$28,000|\n", + "2015 compared to 2014 Aeronautics\u2019 net sales in 2015 increased $650 million, or 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\u2019 operating profit in 2015 increased $32 million, or 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\u2019 net sales increased $797 million, or 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\u2019 operating profit increased $37 million, or 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.", + "The completion of the Transactions contemplated by the Business Combination Agreement will have a material effect on our future results of operations and financial position.", + "Our Business Omnicom, a strategic holding company, was formed in 1986 by the merger of several leading advertising, marketing and corporate communications companies.", + "We are a leading global advertising, marketing and corporate communications company and we operate in a highly competitive industry.", + "The proliferation of media channels, including the rapid development and integration of interactive technologies and mediums, has fragmented consumer audiences targeted by our clients.", + "These developments make it more complex for marketers to reach their target audiences in a cost-effective way, causing them to turn to marketing service providers such as Omnicom for a customized mix of advertising and marketing communications services designed to make the best use of their total marketing expenditures.", + "Our agencies operate in all major markets around the world and provide a comprehensive range of services, which we group into four fundamental disciplines: advertising, customer relationship management, or CRM, public relations and specialty communications.", + "The services included in these disciplines are:", + "|advertising|investor relations|\n|brand consultancy|marketing research|\n|corporate social responsibility consulting|media planning and buying|\n|crisis communications|mobile marketing|\n|custom publishing|multi-cultural marketing|\n|data analytics|non-profit marketing|\n|database management|organizational communications|\n|direct marketing|package design|\n|entertainment marketing|product placement|\n|environmental design|promotional marketing|\n|experiential marketing|public affairs|\n|field marketing|public relations|\n|financial/corporate business-to-business advertising|reputation consulting|\n|graphic arts|retail marketing|\n|healthcare communications|search engine marketing|\n|instore design|social media marketing|\n|interactive marketing|sports and event marketing|\n", + "Although the medium used to reach a client\u2019s target audience may differ across each of these disciplines, we develop and deliver the marketing message in a similar way by providing client-specific consulting services.", + "Our business model was built and continues to evolve around our clients.", + "While our agencies operate under different names and frame their ideas in different disciplines, we organize our services around our clients.", + "The fundamental premise of our business is to deliver our services and allocate our resources based on the specific requirements of our clients.", + "As clients increase their demands for marketing effectiveness and efficiency, they have tended to consolidate their business with larger, multi-disciplinary agencies or integrated groups of agencies.", + "Accordingly, our business model demands that multiple agencies within Omnicom collaborate in formal and informal virtual networks that cut across internal organizational structures to execute against our clients\u2019 specific marketing requirements.", + "We believe that this organizational philosophy, and our ability to execute it, differentiates us from our competitors.", + "Our agency networks and our virtual networks provide us with the ability to integrate services across all disciplines and geographies.", + "This means that the delivery of our services can, and does, take place across agencies, networks and geographic regions simultaneously.", + "Further, we believe that our virtual network strategy facilitates better integration of services required by the demands of the marketplace for advertising and marketing communications services.", + "Our over-arching business strategy is to continue to use our virtual networks to grow our business relationships with our clients.", + "The various components of our business and material factors that affected us in 2013 are discussed in Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d or MD&A, of this", + "The impact of changes in foreign exchange rates increased revenue 0.6%, or $85.1 million, primarily resulting from the strengthening of the Euro and British Pound, against the U. S. Dollar, partially offset by the weakening of the Brazilian Real, Russian Ruble and Australian Dollar against the U. S. Dollar.", + "The components of revenue change in the United States (\u201cDomestic\u201d) and the remainder of the world (\u201cInternational\u201d) were (in millions):", + "||Total|Domestic|International|\n||$|%|$|%|$|%|\n|December 31, 2017|$15,273.6||$8,196.9||$7,076.7||\n|Components of revenue change:|||||||\n|Foreign exchange rate impact|85.1|0.6%|\u2014|\u2014%|85.1|1.2%|\n|Acquisition revenue, net of disposition revenue|-326.6|-2.1%|-108.7|-1.3%|-217.9|-3.1%|\n|Organic growth|404.2|2.6%|58.0|0.7%|346.2|4.9%|\n|Impact of adoption of ASC 606|-146.1|-1.0%|-146.4|-1.8%|0.3|\u2014%|\n|December 31, 2018|$15,290.2|0.1%|$7,999.8|-2.4%|$7,290.4|3.0%|\n", + "The components and percentages are calculated as follows: ?", + "The foreign exchange impact is calculated by translating the current period\u2019s local currency revenue using the prior period average exchange rates to derive current period constant currency revenue (in this case $15,205.1 million for the Total column).", + "The foreign exchange impact is the difference between the current period revenue in U. S. Dollars and the current period constant currency revenue ($15,290.2 million less $15,205.1 million for the Total column). ?", + "Acquisition revenue is calculated as if the acquisition occurred twelve months prior to the acquisition date by aggregating the comparable prior period revenue of acquisitions through the acquisition date.", + "As a result, acquisition revenue excludes the positive or negative difference between our current period revenue subsequent to the acquisition date and the comparable prior period revenue and the positive or negative growth after the acquisition is attributed to organic growth.", + "Disposition revenue is calculated as if the disposition occurred twelve months prior to the disposition date by aggregating the comparable prior period revenue of dispositions through the disposition date.", + "The acquisition revenue and disposition revenue amounts are netted in the table. ?", + "Organic growth is calculated by subtracting the foreign exchange rate impact, and the acquisition revenue, net of disposition revenue components from total revenue growth, excluding the impact of the adoption of ASC 606. ?", + "The impact of the adoption of ASC 606 is discussed above in the \u201cAccounting Changes\u201d section. ?", + "The percentage change is calculated by dividing the individual component amount by the prior period revenue base of that component ($15,273.6 million for the Total column).", + "Changes in the value of foreign currencies against the U. S. Dollar affect our results of operations and financial position.", + "For the most part, because the revenue and expense of our foreign operations are both denominated in the same local currency, the economic impact on operating margin is minimized.", + "Assuming exchange rates at February 11, 2019 remain unchanged, we estimate the impact of changes in foreign exchange rates to reduce revenue in the first half of 2019 by approximately 2.5% to 3% and 1.5% for the full year.", + "Revenue and organic growth, expressed as a percentage and excluding the impact of ASC 606, in our principal regional markets were (in millions):", + "||2018|2017|$ Change|% Organic Growth|\n|Americas:|||||\n|North America|$8,442.5|$8,686.0|$-243.5|0.4%|\n|Latin America|457.5|494.8|-37.3|2.0%|\n|EMEA:|||||\n|Europe|4,375.4|4,127.9|247.5|5.7%|\n|Middle East and Africa|304.4|314.6|-10.2|-2.9%|\n|Asia-Pacific|1,710.4|1,650.3|60.1|7.9%|\n||$15,290.2|$15,273.6|$16.6|2.6%|\n", + "OMNICOM GROUP INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9.", + "Equity Method Investments Income from our equity method investments was $8.9 million, $3.5 million and $5.4 million in 2018, 2017 and 2016, respectively.", + "Our proportionate share in their net assets at December 31, 2018 and 2017 was $42.9 million and $40.7 million, respectively.", + "Our equity method investments are not material to our results of operations or financial position; therefore, summarized financial information is not required to be presented.10.", + "Share-Based Compensation Plans Share-based incentive awards are granted to employees under the 2013 Incentive Award Plan, or the 2013 Plan, which is administered by the Compensation Committee of the Board of Directors, or Compensation Committee.", + "Awards include stock options, restricted stock and other stock awards.", + "The maximum number of shares of common stock that can be granted under the 2013 Plan is 33 million shares plus any shares awarded under the 2013 Plan and any prior plan that have been forfeited or have expired.", + "Stock option awards reduce the number of shares available for grant on a one-for-one basis and all other awards reduce the number of shares available for grant by 3.5 shares for each share awarded.", + "The terms of each award and the exercise date are determined by the Compensation Committee.", + "The 2013 Plan does not permit the holder of an award to elect cash settlement under any circumstances.", + "At December 31, 2018, there were 26,731,624 shares available for grant under the 2013 Plan.", + "If all shares available for grant were for awards other than stock options, shares available for grant would be 7,637,607.", + "Share-based compensation expense was $70.5 million, $80.2 million and $93.4 million in 2018, 2017 and 2016, respectively.", + "At December 31, 2018, unamortized share-based compensation that will be expensed over the next five years is $160.7 million.", + "We record a deferred tax asset for the share-based compensation expense recognized for financial reporting purposes that has not been deducted on our income tax return.", + "Beginning in 2017, excess tax benefits and deficiencies related to share-based compensation are recorded as compensation expense in results of operations upon vesting of restricted stock awards or exercise of stock options.", + "Excess tax benefits and deficiencies represent the difference between the actual compensation deduction for tax purposes, which is calculated as the difference between the grant date price of the award and the price of our common stock on the vesting or exercise date.", + "In 2018 and 2017 we recognized excess tax benefits of $7.4 million and $20.8 million, respectively.", + "Stock Options The exercise price of stock option awards cannot be less than 100% of the market price of our common stock on the grant date.", + "The 2017 option awards vest 100% three years from grant date and have a maximum contractual life of six years.", + "All prior option awards have a maximum contractual life of 10 years.", + "Stock option activity for the three years ended December 31, 2018 was:" + ], + "question_id": "simplong-test-334", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Net credit losses in 2009 and Gains on sales of real estate and other in 2006? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Sources of Liquidity Primary sources of liquidity for Citigroup and its principal subsidiaries include: ?", + "deposits; ?", + "collateralized financing transactions; ?", + "senior and subordinated debt; ?", + "commercial paper; ?", + "trust preferred and preferred securities; and ?", + "purchased/wholesale funds.", + "Citigroup\u2019s funding sources are diversified across funding types and geography, a benefit of its global franchise.", + "Funding for Citigroup and its major operating subsidiaries includes a geographically diverse retail and corporate deposit base of $774.2 billion.", + "These deposits are diversified across products and regions, with approximately two-thirds of them outside of the U. S. This diversification provides the Company with an important, stable and low-cost source of funding.", + "A significant portion of these deposits has been, and is expected to be, long-term and stable, and are considered to be core.", + "There are qualitative as well as quantitative assessments that determine the Company\u2019s calculation of core deposits.", + "The first step in this process is a qualitative assessment of the deposits.", + "For example, as a result of the Company\u2019s qualitative analysis certain deposits with wholesale funding characteristics are excluded from consideration as core.", + "Deposits that qualify under the Company\u2019s qualitative assessments are then subjected to quantitative analysis.", + "Excluding the impact of changes in foreign exchange rates and the sale of our retail banking operations in Germany during the year ending December 31, 2008, the Company\u2019s deposit base remained stable.", + "On a volume basis, deposit increases were noted in Transaction Services, U. S. Retail Banking and Smith Barney.", + "This was partially offset by the Company\u2019s decision to reduce deposits considered wholesale funding, consistent with the Company\u2019s de-leveraging efforts, and declines in International Consumer Banking and the Private Bank.", + "Citigroup and its subsidiaries have historically had a significant presence in the global capital markets.", + "The Company\u2019s capital markets funding activities have been primarily undertaken by two legal entities: (i) Citigroup Inc. , which issues long-term debt, medium-term notes, trust preferred securities, and preferred and common stock; and (ii) Citigroup Funding Inc. (CFI), a first-tier subsidiary of Citigroup, which issues commercial paper, medium-term notes and structured equity-linked and credit-linked notes, all of which are guaranteed by Citigroup.", + "Other significant elements of long\u0002term debt on the Consolidated Balance Sheet include collateralized advances from the Federal Home Loan Bank system, long-term debt related to the consolidation of ICG\u2019s Structured Investment Vehicles, asset-backed outstandings, and certain borrowings of foreign subsidiaries.", + "Each of Citigroup\u2019s major operating subsidiaries finances its operations on a basis consistent with its capitalization, regulatory structure and the environment in which it operates.", + "Particular attention is paid to those businesses that for tax, sovereign risk, or regulatory reasons cannot be freely and readily funded in the international markets.", + "Citigroup\u2019s borrowings have historically been diversified by geography, investor, instrument and currency.", + "Decisions regarding the ultimate currency and interest rate profile of liquidity generated through these borrowings can be separated from the actual issuance through the use of derivative instruments.", + "Citigroup is a provider of liquidity facilities to the commercial paper programs of the two primary Credit Card securitization trusts with which it transacts.", + "Citigroup may also provide other types of support to the trusts.", + "As a result of the recent economic downturn, its impact on the cashflows of the trusts, and in response to credit rating agency reviews of the trusts, the Company increased the credit enhancement in the Omni Trust, and plans to provide additional enhancement to the Master Trust (see Note 23 to Consolidated Financial Statements on page 175 for a further discussion).", + "This support preserves investor sponsorship of our card securitization franchise, an important source of liquidity.", + "Banking Subsidiaries There are various legal limitations on the ability of Citigroup\u2019s subsidiary depository institutions to extend credit, pay dividends or otherwise supply funds to Citigroup and its non-bank subsidiaries.", + "The approval of the Office of the Comptroller of the Currency, in the case of national banks, or the Office of Thrift Supervision, in the case of federal savings banks, is required if total dividends declared in any calendar year exceed amounts specified by the applicable agency\u2019s regulations.", + "State-chartered depository institutions are subject to dividend limitations imposed by applicable state law.", + "In determining the declaration of dividends, each depository institution must also consider its effect on applicable risk-based capital and leverage ratio requirements, as well as policy statements of the federal regulatory agencies that indicate that banking organizations should generally pay dividends out of current operating earnings.", + "Non-Banking Subsidiaries Citigroup also receives dividends from its non-bank subsidiaries.", + "These non-bank subsidiaries are generally not subject to regulatory restrictions on dividends.", + "However, as discussed in \u201cCapital Resources and Liquidity\u201d on page 94, the ability of CGMHI to declare dividends can be restricted by capital considerations of its broker-dealer subsidiaries.", + "CGMHI\u2019s consolidated balance sheet is liquid, with the vast majority of its assets consisting of marketable securities and collateralized short-term financing agreements arising from securities transactions.", + "CGMHI monitors and evaluates the adequacy of its capital and borrowing base on a daily basis to maintain liquidity and to ensure that its capital base supports the regulatory capital requirements of its subsidiaries.", + "Some of Citigroup\u2019s non-bank subsidiaries, including CGMHI, have credit facilities with Citigroup\u2019s subsidiary depository institutions, including Citibank, N. A.", + "Borrowings under these facilities must be secured in accordance with Section 23A of the Federal Reserve Act.", + "There are various legal restrictions on the extent to which a bank holding company and certain of its non-bank subsidiaries can borrow or obtain credit from Citigroup\u2019s subsidiary depository institutions or engage in certain other transactions with them.", + "In general, these restrictions require that transactions be on arm\u2019s length terms and be secured by designated amounts of specified collateral.", + "See Note 20 to the Consolidated Financial Statements on page 169.", + "At December 31, 2008, long-term debt and commercial paper outstanding for Citigroup, CGMHI, CFI and Citigroup\u2019s subsidiaries were as follows:", + "|In billions of dollars|Citigroup parent company|CGMHI-2|Citigroup Funding Inc.-2|Other Citigroup subsidiaries||\n|Long-term debt|$192.3|$20.6|$37.4|$109.3|-1|\n|Commercial paper|$\u2014|$\u2014|$28.6|$0.5||\n", + "(1) At December 31, 2008, approximately $67.4 billion relates to collateralized advances from the Federal Home Loan Bank.", + "(2) Citigroup Inc. guarantees all of CFI\u2019s debt and CGMHI\u2019s publicly issued securities.", + "Citi Holdings contains businesses and portfolios of assets that Citigroup has determined are not central to its core Citicorp businesses.", + "Consistent with its strategy, Citi intends to exit these businesses as quickly as practicable in an economically rational manner through business divestitures, portfolio run-offs and asset sales.", + "During 2009 and 2010, Citi made substantial progress divesting and exiting businesses from Citi Holdings, having completed more than 30 divestiture transactions, including Smith Barney, Nikko Cordial Securities, Nikko Asset Management, Primerica Financial Services, various credit card businesses (including Diners Club North America) and The Student Loan Corporation (which is reported as discontinued operations within the Corporate/Other segment for the second half of 2010 only).", + "Citi Holdings\u2019 GAAP assets of $359 billion have been reduced by $128 billion from December 31, 2009, and $468 billion from the peak in the first quarter of 2008.", + "Citi Holdings\u2019 GAAP assets of $359 billion represent approximately 19% of Citi\u2019s assets as of December 31, 2010.", + "Citi Holdings\u2019 risk-weighted assets of approximately $330 billion represent approximately 34% of Citi\u2019s risk-weighted assets as of December 31, 2010.", + "Citi Holdings consists of the following: Brokerage and Asset Management, Local Consumer Lending, and Special Asset Pool.", + "|In millions of dollars|2010|2009|2008|% Change 2010 vs. 2009|% Change 2009 vs. 2008|\n|Net interest revenue|$14,773|$16,139|$21,092|-8%|-23%|\n|Non-interest revenue|4,514|12,989|-29,330|-65|NM|\n|Total revenues, net of interest expense|$19,287|$29,128|$-8,238|-34%|NM|\n|Provisions for credit losses and for benefits and claims||||||\n|Net credit losses|$19,070|$24,585|$14,026|-22%|75%|\n|Credit reserve build (release)|-3,500|5,305|11,258|NM|-53|\n|Provision for loan losses|$15,570|$29,890|$25,284|-48%|18%|\n|Provision for benefits and claims|813|1,094|1,228|-26|-11|\n|Provision (release) for unfunded lending commitments|-82|106|-172|NM|NM|\n|Total provisions for credit losses and for benefits and claims|$16,301|$31,090|$26,340|-48%|18%|\n|Total operating expenses|$9,563|$13,764|$24,104|-31|-43%|\n|Loss from continuing operations before taxes|$-6,577|$-15,726|$-58,682|58%|73%|\n|Benefits for income taxes|-2,554|-6,878|-22,185|63|69|\n|(Loss) from continuing operations|$-4,023|$-8,848|$-36,497|55%|76%|\n|Net income (loss) attributable to noncontrolling interests|207|29|-372|NM|NM|\n|Citi Holdings net loss|$-4,230|$-8,877|$-36,125|52%|75%|\n|Balance sheet data(in billions of dollars)||||||\n|Total EOP assets|$359|$487|$650|-26%|-25%|\n|Total EOP deposits|$79|$89|$81|-11%|10%|\n", + "receipt in 2005, of a $10 million termination fee associated with one property that left our system.", + "The favorable items noted above were also partially offset by $146 million of increased general and administrative expenses and $46 million of lower synthetic fuel revenue net of synthetic fuel expenses.", + "Increased general, administrative and other expenses were associated with our Lodging segments as unallo\u0002cated general, administrative and other expenses were down slightly compared to the prior year.", + "The increase in general, administrative and other expenses reflects a $94 million charge impacting our North American Full-Service and International Lodging segments, primarily due to the non-cash write-off of deferred contract acquisition costs associated with the termina\u0002tion of management agreements associated with our acquisition of the CTF properties, and $30 million of expenses associated with our bedding incentive program, impacting our North American Full-Service, North American Limited-Service and International Lodging segments.", + "General, administrative and other expenses in 2005 also reflect pre-tax performance termi\u0002nation cure payments of $15 million associated with two proper\u0002ties, a $9 million pre-tax charge associated with three guarantees, increased other net overhead costs of $13 million including costs related to the Company\u2019s unit growth, develop\u0002ment and systems, and $2 million of increased foreign exchange losses partially offset by $5 million of lower litigation expenses.", + "Additionally, in 2004, general, administrative and other expenses included a $13 million charge associated with the write-off of deferred contract acquisition costs.", + "Operating income for 2005 included a synthetic fuel operating loss of $144 million versus a $98 million operating loss in the prior year, reflecting increased costs and the consolidation of our syn\u0002thetic fuel operations from the start of the 2004 second quarter, which resulted in the recognition of revenue and expenses for all of 2005 versus only three quarters in 2004, as we accounted for the synthetic fuel operations using the equity method of account\u0002ing in the 2004 first quarter.", + "For additional information, see our \u201cSynthetic Fuel\u201d segment discussion later in this report.", + "Gains and Other Income The following table shows our gains and other income for 2006, 2005 and 2004.", + "| ($ in millions)|2006| 2005| 2004|\n|Timeshare segment note sale gains|$\u2014|$69|$64|\n|Synthetic fuel earn-out payments (made) received, net|-15|32|28|\n|Loss on expected land sale|-37|\u2014|\u2014|\n|Gains on sales of real estate and other|26|34|48|\n|Other note sale/repayment gains|2|25|5|\n|Gains on sale/income on redemption of joint venture investments|68|7|19|\n|Income from cost method joint ventures|15|14|\u2014|\n||$59|$181|$164|\n", + "Gains on sale/income on redemption of joint venture invest\u0002ments of $68 million in 2006 represents $43 million of net gains associated with the sale of joint venture investments and $25 mil\u0002lion of income associated with the redemption of preferred stock we held in one investee.", + "As further explained in the earlier \u201cRevenues\u201d discussion for 2006, Timeshare segment note sale gains of $77 million in 2006 are presented in the \u201cTimeshare sales and services\u201d revenue caption.", + "Interest Expense 2006 COMPARED TO 2005 Interest expense increased $18 million (17 percent) to $124 mil\u0002lion in 2006 from $106 million in 2005.", + "Included within interest expense for 2006 are charges totaling $46 million relating to interest on accumulated cash inflows, in advance of our cash outflows for various programs that we operate on the owners\u2019 behalf, including the Marriott Rewards, Gift Certificates and Self\u0002Insurance programs.", + "The increase in interest on these programs over 2005 is related to higher liability balances and higher inter\u0002est rates.", + "Interest expense also increased in 2006, due to our June 2005 Series F Notes issuance, our June 2006 Series H Notes issuance, and higher commercial paper balances coupled with higher rates.", + "Partially offsetting these increases were interest expense declines associated with the payoff, at maturity, of both our Series D Notes in April 2005 and Series B Notes in November 2005, and the exchange of our Series C and Series E Notes for lower interest rate Series G Notes in 2005.2005 COMPARED TO 2004 Interest expense increased $7 million (7 percent) to $106 million in 2005 from $99 million in the prior year, reflecting increased debt levels, which helped to facilitate significantly higher capital expenditures and share repurchases in 2005.", + "Interest expense in 2005 reflected our June 2005 Series F Notes issuance and, versus the prior year, higher commercial paper balances coupled with higher rates.", + "Included within interest expense for 2005 are charges totaling $29 million relating to interest on accumulated cash inflows, in advance of our cash outflows for various pro\u0002grams that we operate on the owners\u2019 behalf, including the Marriott Rewards, Gift Certificates and Self-Insurance programs.", + "The increase over 2004 is related to higher liability balances and higher interest rates.", + "Partially offsetting these increases were interest expense declines associated with the payoff, at maturity, of both our Series D Notes in April 2005 and Series B Notes in November 2005, and the capitalization of more interest associ\u0002ated with the development of timeshare properties.", + "Interest Income, Provision for Loan Losses, and Income Tax 2006 COMPARED TO 2005 Interest income, before the provision for loan losses, decreased $34 million (43 percent) to $45 million in 2006 from $79 million in 2005, primarily reflecting the impact of loans repaid to us in 2005.", + "Also reflected in the decrease versus the prior year are $4 million of mark-to-market expenses in 2006 associated with hedges for our synthetic fuel operations.", + "Loan loss provisions decreased $31 million versus the prior year reflecting the rever\u0002sal of loan loss provisions totaling $3 million in 2006 compared to a charge of $17 million in 2005 due to the impairment of our Delta Air Lines, Inc. aircraft leveraged lease, see the \u201cInvestment in Leveraged Lease\u201d caption later in this report for additional information, and an $11 million loan loss provision in 2005 asso\u0002ciated with one property.", + "Our tax provision totaled $286 million in 2006 compared to a tax provision of $94 million in 2005.", + "The difference of $192 mil\u0002lion is primarily attributable to $96 million of higher taxes in 2006 associated with higher pre-tax income from our lodging operations and $96 million of lower tax credits and tax benefit in 2006 associated with our synthetic fuel operations that gen\u0002erated a net tax benefit of $94 million in 2006 compared to a net tax benefit of $190 million in 2005.", + "As discussed in more detail in the \u201cSynthetic Fuel\u201d segment caption later in this report, 2006 includes a provision for an estimated 39 percent" + ], + "question_id": "simplong-test-335", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the increasing rate of Investment Bank for Total in 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis The table below presents our average monthly assets under supervision by asset class.", + "||Average for theYear Ended December|\n|$ in billions|2017|2016|2015|\n|Alternative investments|$ 162|$ 149|$ 145|\n|Equity|292|256|247|\n|Fixed income|633|578|530|\n|Total long-term AUS|1,087|983|922|\n|Liquidity products|330|326|272|\n|Total AUS|$1,417|$1,309|$1,194|\n", + "Operating Environment.", + "During 2017, Investment Management operated in an environment characterized by generally higher asset prices, resulting in appreciation in both equity and fixed income assets.", + "In addition, our long\u0002term assets under supervision increased from net inflows primarily in fixed income and alternative investment assets.", + "These increases were partially offset by net outflows in liquidity products.", + "As a result, the mix of average assets under supervision during 2017 shifted slightly from liquidity products to long-term assets under supervision as compared to the mix at the end of 2016.", + "In the future, if asset prices decline, or investors favor assets that typically generate lower fees or investors withdraw their assets, net revenues in Investment Management would likely be negatively impacted.", + "Following a challenging first quarter of 2016, market conditions improved during the remainder of 2016 with higher asset prices resulting in full year appreciation in both equity and fixed income assets.", + "Also, our assets under supervision increased during 2016 from net inflows, primarily in fixed income assets, and liquidity products.", + "The mix of our average assets under supervision shifted slightly compared with 2015 from long-term assets under supervision to liquidity products.", + "Management fees were impacted by many factors, including inflows to advisory services and outflows from actively-managed mutual funds.2017 versus 2016.", + "Net revenues in Investment Management were $6.22 billion for 2017, 7% higher than 2016, due to higher management and other fees, reflecting higher average assets under supervision, and higher transaction revenues.", + "During the year, total assets under supervision increased $115 billion to $1.49 trillion.", + "Long\u0002term assets under supervision increased $128 billion, including net market appreciation of $86 billion, primarily in equity and fixed income assets, and net inflows of $42 billion (which includes $20 billion of inflows in connection with the Verus acquisition and $5 billion of equity asset outflows in connection with the Australian divestiture), primarily in fixed income and alternative investment assets.", + "Liquidity products decreased $13 billion (which includes $3 billion of inflows in connection with the Verus acquisition).", + "Operating expenses were $4.80 billion for 2017, 3% higher than 2016, primarily due to increased compensation and benefits expenses, reflecting higher net revenues.", + "Pre-tax earnings were $1.42 billion in 2017, 25% higher than 2016.2016 versus 2015.", + "Net revenues in Investment Management were $5.79 billion for 2016, 7% lower than 2015.", + "This decrease primarily reflected significantly lower incentive fees compared with a strong 2015.", + "In addition, management and other fees were slightly lower, reflecting shifts in the mix of client assets and strategies, partially offset by the impact of higher average assets under supervision.", + "During 2016, total assets under supervision increased $127 billion to $1.38 trillion.", + "Long-term assets under supervision increased $75 billion, including net inflows of $42 billion, primarily in fixed income assets, and net market appreciation of $33 billion, primarily in equity and fixed income assets.", + "In addition, liquidity products increased $52 billion.", + "Operating expenses were $4.65 billion for 2016, 4% lower than 2015, due to decreased compensation and benefits expenses, reflecting lower net revenues.", + "Pre-tax earnings were $1.13 billion in 2016, 17% lower than 2015.", + "Geographic Data See Note 25 to the consolidated financial statements for a summary of our total net revenues, pre-tax earnings and net earnings by geographic region.", + "ferred capital debt securities, as issuances of FDIC-guaranteed debt and non-FDIC guaranteed debt in both the U. S. and European markets were more than offset by redemptions.", + "Cash proceeds resulted from an increase in securities loaned or sold under repur\u0002chase agreements, partly attributable to favorable pricing and to financing the increased size of the Firm\u2019s AFS securities portfolio; and the issuance of $5.8 billion of common stock.", + "There were no repurchases in the open market of common stock or the warrants during 2009.", + "In 2008, net cash provided by financing activities was $247.8 billion due to: growth in wholesale deposits, in particular, inter\u0002est- and noninterest-bearing deposits in TSS (driven by both new and existing clients, and due to the deposit inflows related to the heightened volatility and credit concerns affecting the global markets that began in the third quarter of 2008), as well as increases in AM and CB (due to organic growth); proceeds of $25.0 billion from the issuance of preferred stock and the War\u0002rant to the U. S. Treasury under the Capital Purchase Program; additional issuances of common stock and preferred stock used for general corporate purposes; an increase in other borrowings due to nonrecourse secured advances under the Federal Reserve Bank of Boston AML Facility to fund the purchase of asset-backed commercial paper from money market mutual funds; increases in federal funds purchased and securities loaned or sold under repurchase agreements in connection with higher client demand for liquidity and to finance growth in the Firm\u2019s AFS securities portfolio; and a net increase in long-term debt due to a combina\u0002tion of non-FDIC guaranteed debt and trust preferred capital debt securities issued prior to December 4, 2008, and the issuance of $20.8 billion of FDIC-guaranteed long-term debt issued during the fourth quarter of 2008.", + "The fourth-quarter FDIC-guaranteed debt issuance was offset partially by maturities of non-FDIC guaranteed long-term debt during the same period.", + "The increase in long-term debt (including trust preferred capital debt securities) was used primarily to fund certain illiquid assets held by the parent holding company and to build liquidity.", + "Cash was also used to pay dividends on common and preferred stock.", + "The Firm did not repurchase any shares of its common stock during 2008.", + "In 2007, net cash provided by financing activities was $184.1 billion due to a net increase in wholesale deposits from growth in business volumes, in particular, interest-bearing deposits at TSS, AM and CB; net issuances of long-term debt (including trust preferred capital debt securities) primarily to fund certain illiquid assets held by the parent holding company and build liquidity, and by IB from client-driven structured notes transactions; and growth in commercial paper issuances and other borrowed funds due to growth in the volume of liability balances in sweep ac\u0002counts in TSS and CB, and to fund trading positions and to fur\u0002ther build liquidity.", + "Cash was used to repurchase common stock and pay dividends on common stock.", + "Credit ratings The cost and availability of financing are influenced by credit rat\u0002ings.", + "Reductions in these ratings could have an adverse effect on the Firm\u2019s access to liquidity sources, increase the cost of funds, trigger additional collateral or funding requirements and decrease the number of investors and counterparties willing to lend to the Firm.", + "Additionally, the Firm\u2019s funding requirements for VIEs and other third-party commitments may be adversely affected.", + "For additional information on the impact of a credit ratings downgrade on the funding requirements for VIEs, and on derivatives and collat\u0002eral agreements, see Special-purpose entities on pages 86\u201387 and Ratings profile of derivative receivables marked to market (\u201cMTM\u201d), and Note 5 on page 111 and pages 175\u2013183, respec\u0002tively, of this Annual Report.", + "Critical factors in maintaining high credit ratings include a stable and diverse earnings stream, strong capital ratios, strong credit quality and risk management controls, diverse funding sources, and disciplined liquidity monitoring procedures.", + "The credit ratings of the parent holding company and each of the Firm\u2019s significant banking subsidiaries as of January 15, 2010, were as follows.", + "||Short-term debt|Senior long-term debt|\n||Moody\u2019s|S&P|Fitch|Moody\u2019s|S&P|Fitch|\n|JPMorgan Chase & Co.|P-1|A-1|F1+|Aa3|A+|AA-|\n|JPMorgan Chase Bank, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n|Chase Bank USA, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n", + "Ratings actions affecting the Firm On March 4, 2009, Moody\u2019s revised the outlook on the Firm to negative from stable.", + "This action was the result of Moody\u2019s view that the Firm\u2019s ability to generate capital would be adversely af\u0002fected by higher credit costs due to the global recession.", + "The rating action by Moody\u2019s in the first quarter of 2009 did not have a mate\u0002rial impact on the cost or availability of the Firm\u2019s funding.", + "At December 31, 2009, Moody\u2019s outlook remained negative.", + "Ratings from S&P and Fitch on JPMorgan Chase and its principal bank subsidiaries remained unchanged at December 31, 2009, from December 31, 2008.", + "At December 31, 2009, S&P\u2019s outlook remained negative, while Fitch\u2019s outlook remained stable.", + "Following the Firm\u2019s earnings release on January 15, 2010, S&P and Moody\u2019s announced that their ratings on the Firm remained unchanged.", + "If the Firm\u2019s senior long-term debt ratings were downgraded by one additional notch, the Firm believes the incremental cost of funds or loss of funding would be manageable, within the context of current market conditions and the Firm\u2019s liquidity resources.", + "JPMorgan Chase\u2019s unsecured debt does not contain requirements that would call for an acceleration of payments, maturities or changes in the structure of the existing debt, provide any limitations on future borrowings or require additional collateral, based on unfavorable", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. /2009 Annual Report 122 Residential real estate loan modification activities: During 2009, the Firm reviewed its residential real estate portfolio to identify homeowners most in need of assistance, opened new regional counseling centers, hired additional loan counselors, introduced new financing alternatives, proactively reached out to borrowers to offer pre-qualified modifications, and commenced a new process to independently review each loan before moving it into the foreclosure process.", + "In addition, during the first quarter of 2009, the U. S. Treasury introduced the MHA programs, which are designed to assist eligible homeowners in a number of ways, one of which is by modifying the terms of their mortgages.", + "The Firm is participating in the MHA programs while continuing to expand its other loss-mitigation efforts for financially distressed borrowers who do not qualify for the MHA programs.", + "The MHA programs and the Firm\u2019s other loss-mitigation programs for financially troubled borrowers generally represent various conces\u0002sions such as term extensions, rate reductions and deferral of principal payments that would have otherwise been required under the terms of the original agreement.", + "When the Firm modi\u0002fies home equity lines of credit in troubled debt restructurings, future lending commitments related to the modified loans are canceled as part of the terms of the modification.", + "Under all of these programs, borrowers must make at least three payments under the revised contractual terms during a trial modification period and be successfully re-underwritten with income verifica\u0002tion before their loans can be permanently modified.", + "The Firm\u2019s loss-mitigation programs are intended to minimize economic loss to the Firm, while providing alternatives to foreclosure.", + "The success of these programs is highly dependent on borrowers\u2019 ongoing ability and willingness to repay in accordance with the modified terms and could be adversely affected by additional deterioration in the economic environment or shifts in borrower behavior.", + "For both the Firm\u2019s on-balance sheet loans and loans serviced for others, approximately 600,000 mortgage modifica\u0002tions had been offered to borrowers in 2009.", + "Of these, 89,000 have achieved permanent modification.", + "Substantially all of the loans contractually modified to date were modified under the Firm\u2019s other loss mitigation programs.", + "The following table presents information relating to restructured on-balance sheet residential real estate loans for which concessions have been granted to borrowers experiencing financial difficulty as of December 31, 2009.", + "Modifications of purchased credit-impaired loans con\u0002tinue to be accounted for and reported as purchased credit-impaired loans, and the impact of the modification is incorporated into the Firm\u2019s quarterly assessment of whether a probable and/or significant change in estimated future principal cash flows has occurred.", + "Modifications of loans other than purchased credit-impaired are generally accounted for and reported as troubled debt restructurings.", + "Restructured residential real estate loans(a)", + "| December 31, 2009|On-balance sheet loans|Nonperforming on-balance sheet loans(d)|\n|(in millions)|\n| Restructured residential real estate loans \u2013 excludingpurchased credit-impaired loans(b)|||\n|Home equity \u2013 senior lien|$168|$30|\n|Home equity \u2013 junior lien|222|43|\n|Prime mortgage|634|243|\n|Subprime mortgage|1,998|598|\n|Option ARMs|8|6|\n| Total restructured residential real estate loans \u2013 excluding purchased credit-impaired loans|$3,030|$920|\n| Restructured purchased credit-impaired loans(c)|||\n|Home equity|$453|NA|\n|Prime mortgage|1,526|NA|\n|Subprime mortgage|1,954|NA|\n|Option ARMs|2,972|NA|\n| Total restructured purchased credit-impaired loans|$6,905|NA|\n", + "(a) Restructured residential real estate loans were immaterial at December 31, 2008.", + "(b) Amounts represent the carrying value of restructured residential real estate loans.", + "(c) Amounts represent the unpaid principal balance of restructured purchased credit-impaired loans.", + "(d) Nonperforming loans modified in a troubled debt restructuring may be returned to accrual status when repayment is reasonably assured and the borrower has made a minimum of six payments under the new terms.", + "Real estate owned (\u201cREO\u201d): As part of the residential real estate foreclosure process, loans are written down to the fair value of the underlying real estate asset, less costs to sell.", + "In those in\u0002stances where the Firm gains title, ownership and possession of individual properties at the completion of the foreclosure process, these REO assets are managed for prompt sale and disposition at the best possible economic value.", + "Any further gains or losses on REO assets are recorded as part of other income.", + "Operating ex\u0002pense, such as real estate taxes and maintenance, are charged to other expense.", + "REO assets declined from year-end 2008 as a result of the foreclosure moratorium in early 2009 and the subsequent increase in loss mitigation activities.", + "It is anticipated that REO assets will increase over the next several quarters, as loans moving through the foreclosure process are expected to increase.", + "The calculation of the allowance for loan losses to total retained loans, excluding both home lending purchased credit-impaired loans and loans held by the Washington Mutual Master Trust, is presented below.", + "|December 31, (in millions, except ratios)|2009|2008|\n|Allowance for loan losses|$31,602|$23,164|\n|Less: Allowance for purchased credit-impaired loans|1,581|\u2014|\n|Adjusted allowance for loan losses|$30,021|$23,164|\n|Total loans retained|$627,218|$728,915|\n|Less: Firmwide purchased credit-impaired loans|81,380|89,088|\n|Loans held by the Washington Mutual Master Trust|1,002|\u2014|\n|Adjusted loans|$544,836|$639,827|\n| Allowance for loan losses to ending loans excluding purchased credit-impaired loans and loans held by the Washington Mutual Master Trust|5.51%|3.62%|\n", + "The following table presents the allowance for credit losses by business segment at December 31, 2009 and 2008.", + "||Allowance for credit losses|\n|| 2009|2008|\n|December 31,||Lending-related|||Lending-related||\n|(in millions)|Loan losses|commitments|Total|Loan losses|commitments|Total|\n|Investment Bank|$3,756|$485|$4,241|$3,444|$360|$3,804|\n|Commercial Banking|3,025|349|3,374|2,826|206|3,032|\n|Treasury & Securities Services|88|84|172|74|63|137|\n|Asset Management|269|9|278|191|5|196|\n|Corporate/Private Equity|7|\u2014|7|10|\u2014|10|\n| Total Wholesale|7,145|927|8,072|6,545|634|7,179|\n|Retail Financial Services|14,776|12|14,788|8,918|25|8,943|\n|Card Services|9,672|\u2014|9,672|7,692|\u2014|7,692|\n|Corporate/Private Equity|9|\u2014|9|9|\u2014|9|\n| Total Consumer|24,457|12|24,469|16,619|25|16,644|\n| Total|$31,602|$939|$32,541|$23,164|$659|$23,823|\n", + "Provision for credit losses The managed provision for credit losses was $38.5 billion for the year ended December 31, 2009, up by $13.9 billion from the prior year.", + "The prior-year included a $1.5 billion charge to conform Washington Mutual\u2019s allowance for loan losses, which affected both the consumer and wholesale portfolios.", + "For the purpose of the following analysis, this charge is excluded.", + "The consumer-managed provision for credit losses was $34.5 billion for the year ended December 31, 2009, compared with $20.4 billion in the prior year, reflecting an increase in the allowance for credit losses in the home lending and credit card loan portfolios.", + "Included in the 2009 addition to the allowance for loan losses was a $1.6 billion increase related to estimated deteriora\u0002tion in the Washington Mutual purchased credit-impaired portfolio.", + "The wholesale provision for credit losses was $4.0 billion for the year ended Decem\u0002ber 31, 2009, compared with $2.7 billion in the prior year, reflecting continued weakness in the credit environment.", + "|Year ended December 31,|Provision for credit losses|\n|(in millions)|Loan losses|Lending-related commitments|Total|\n||2009|2008|2007|2009|2008|2007|2009|2008|2007|\n|Investment Bank|$2,154|$2,216|$376|$125|$-201|$278|$2,279|$2,015|$654|\n|Commercial Banking|1,314|505|230|140|-41|49|1,454|464|279|\n|Treasury & Securities Services|34|52|11|21|30|8|55|82|19|\n|Asset Management|183|87|-19|5|-2|1|188|85|-18|\n|Corporate/Private Equity(a)(b)|-1|676|\u2014|-1|5|\u2014|-2|681|\u2014|\n| Total Wholesale|3,684|3,536|598|290|-209|336|3,974|3,327|934|\n|Retail Financial Services|15,950|9,906|2,620|-10|-1|-10|15,940|9,905|2,610|\n|CardServices \u2013 reported|12,019|6,456|3,331|\u2014|\u2014|\u2014|12,019|6,456|3,331|\n|Corporate/Private Equity(a)(c)(d)|82|1,339|-11|\u2014|-48|\u2014|82|1,291|-11|\n| Total Consumer|28,051|17,701|5,940|-10|-49|-10|28,041|17,652|5,930|\n| Total provision for creditlosses \u2013 reported|31,735|21,237|6,538|280|-258|326|32,015|20,979|6,864|\n|Credit card\u2013 securitized|6,443|3,612|2,380|\u2014|\u2014|\u2014|6,443|3,612|2,380|\n| Total provision for creditlosses \u2013 managed|$38,178|$24,849|$8,918|$280|$-258|$326|$38,458|$24,591|$9,244|\n", + "(a) Includes accounting conformity provisions related to the Washington Mutual transaction in 2008.", + "(b) Includes provision expense related to loans acquired in the Bear Stearns merger in the second quarter of 2008.", + "(c) Includes amounts related to held-for-investment prime mortgages transferred from AM to the Corporate/Private Equity segment.", + "(d) In November 2008, the Firm transferred $5.8 billion of higher quality credit card loans from the legacy Chase portfolio to a securitization trust previously established by Washington Mutual (\u2018\u2018the Trust\u2019\u2019).", + "As a result of converting higher credit quality Chase-originated on-book receivables to the Trust\u2019s seller\u2019s interest which has a higher overall loss rate reflective of the total assets within the Trust, approximately $400 million of incremental provision expense was recorded during the fourth quarter.", + "This incremental provision expense was recorded in the Corporate segment as the action related to the acquisition of Washington Mutual\u2019s banking operations.", + "For further discussion of credit card securitizations, see Note 15 on pages 206---213 of this Annual Report." + ], + "question_id": "simplong-test-336", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the percent change of interest paid between 2016 and 2017?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "debt issuances, and proceeds from the disposition of properties, if any.", + "Redevelopment Pipeline The Company defines redevelopment activities as existing properties owned or recently acquired, which have been targeted for additional investment by the Company with the expectation of increased financial returns through property improvement.", + "The Company\u2019s redevelopment strategy strives to improve the financial and physical aspects of the Company\u2019s redevelopment apartment communities and to target a 10 percent return on the incremental renovation investment.", + "Many of the Company\u2019s properties are older and in excellent neighborhoods, providing lower density with large floor plans that represent attractive redevelopment opportunities.", + "During redevelopment, apartment units may not be available for rent and, as a result, may have less than stabilized operations.", + "As of December 31, 2007, the Company had thirteen major redevelopment communities aggregating 3,891 apartment units with estimated redevelopment costs of $135.6 million, of which approximately $74.6 million remains to be expended.", + "These amounts exclude redevelopment projects owned by Fund II.", + "Alternative Capital Sources Fund II has eight institutional investors, and the Company, with combined partner equity commitments of $265.9 million.", + "Essex has committed $75.0 million to Fund II, which represents a 28.2% interest as general partner and limited partner.", + "Fund II utilized debt as leverage equal to approximately 65% of the estimated value of the underlying real estate.", + "Fund II invested in apartment communities in the Company\u2019s targeted West Coast markets and, as of December 31, 2007, owned eleven apartment communities and three development projects.", + "Essex records revenue for its asset management, property management, development and redevelopment services when earned, and promote income when realized if Fund II exceeds certain financial return benchmarks.", + "Contractual Obligations and Commercial Commitments The following table summarizes the maturation or due dates of our contractual obligations and other commitments at December 31, 2007, and the effect such obligations could have on our liquidity and cash flow in future periods:", + "|(In thousands)|2008|2009 and 2010|2011 and 2012|Thereafter|Total|\n|Mortgage notes payable|$116,357|$179,502|$198,728|$768,286|$1,262,873|\n|Exchangeable bonds|-|-|-|225,000|225,000|\n|Lines of credit|8,818|161,000|-|-|169,818|\n|Interest on indebtedness|87,000|93,100|57,900|204,800|442,800|\n|Development commitments|153,000|260,600|89,800|33,700|537,100|\n|Redevelopment commitments|42,700|31,900|-|-|74,600|\n|Essex Apartment Value Fund II, L.P.||||||\n|capital commitment|13,383|-|-|-|13,383|\n||$421,258|$726,102|$346,428|$1,231,786|$2,725,574|\n", + "Variable Interest Entities In accordance with Financial Accounting Standards Board (FASB) Interpretation No.46 Revised (FIN 46R), \u201cConsolidation of Variable Interest Entities, an Interpretation of ARB No.51\u201d, the Company consolidates 19 DownREIT limited partnerships (comprising twelve properties), and an office building that is subject to loans made by the Company.", + "The Company consolidates these entities because it is deemed the primary beneficiary under FIN 46R.", + "The total assets and liabilities related to these variable interest entities (VIEs), net of intercompany eliminations, were approximately $222.7 million and $163.9 million as of December 31, 2007 and $178.3 million and $110.9 million as of December 31, 2006, respectively.", + "Interest holders in VIEs consolidated by the Company are allocated net income equal to the cash payments made to those interest holders for services rendered or distributions from cash flow.", + "The remaining results of operations are generally allocated to the Company.", + "As of December 31, 2007 and 2006, the Company was involved with two VIEs, of which it is not deemed to be the primary beneficiary.", + "Total assets and liabilities of these entities were approximately $71.7 million and $78.5 million and $58.3 million and $58.4 million, as of December 31, 2007 and 2006, respectively.", + "The Company does not have a significant exposure to loss from its involvement with these unconsolidated VIEs.", + "Critical Accounting Policies and Estimates The preparation of consolidated financial statements, in accordance with U. S. generally accepted accounting", + "METLIFE, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS\u2019 EQUITY FOR THE YEARS ENDED DECEMBER 31, 2006, 2005 AND 2004 (In millions)", + "|||||||Accumulated Other Comprehensive Income||\n|| Preferred Stock| Common Stock|Additional Paid-in Capital|Retained Earnings|Treasury Stock at Cost|Net Unrealized Investment Gains (Losses)|Foreign Currency Translation Adjustment|Defined Benefit Plans Adjustment|Total|\n|Balance at January 1, 2004|$\u2014|$8|$14,991|$4,193|$-835|$2,972|$-52|$-128|$21,149|\n|Treasury stock transactions, net|||46||-950||||-904|\n|Dividends on common stock||||-343|||||-343|\n|Comprehensive income (loss):||||||||||\n|Net income||||2,758|||||2,758|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||-62|||-62|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-6|||-6|\n|Cumulative effect of a change in accounting, net of income tax||||||90|||90|\n|Foreign currency translation adjustments, net of income tax|||||||144||144|\n|Additional minimum pension liability adjustment, net of income tax||||||||-2|-2|\n|Other comprehensive income|||||||||164|\n|Comprehensive income|||||||||2,922|\n|Balance at December 31, 2004|\u2014|8|15,037|6,608|-1,785|2,994|92|-130|22,824|\n|Treasury stock transactions, net|||58||99||||157|\n|Common stock issued in connection with acquisition|||283||727||||1,010|\n|Issuance of preferred stock|1||2,042||||||2,043|\n|Issuance of stock purchase contracts related to common equity units|||-146||||||-146|\n|Dividends on preferred stock||||-63|||||-63|\n|Dividends on common stock||||-394|||||-394|\n|Comprehensive income:||||||||||\n|Net income||||4,714|||||4,714|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||233|||233|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-1,285|||-1,285|\n|Foreign currency translation adjustments, net of income tax|||||||-81||-81|\n|Additional minimum pension liability adjustment, net of income tax||||||||89|89|\n|Other comprehensive income|||||||||-1,044|\n|Comprehensive income|||||||||3,670|\n|Balance at December 31, 2005|1|8|17,274|10,865|-959|1,942|11|-41|29,101|\n|Treasury stock transactions, net|||180||-398||||-218|\n|Dividends on preferred stock||||-134|||||-134|\n|Dividends on common stock||||-450|||||-450|\n|Comprehensive income:||||||||||\n|Net income||||6,293|||||6,293|\n|Other comprehensive income:||||||||||\n|Unrealized gains (losses) on derivative instruments, net of income tax||||||-43|||-43|\n|Unrealized investment gains (losses), net of related offsets and income tax||||||-35|||-35|\n|Foreign currency translation adjustments, net of income tax|||||||46||46|\n|Additional minimum pension liability adjustment, net of income tax||||||||-18|-18|\n|Other comprehensive income|||||||||-50|\n|Comprehensive income|||||||||6,243|\n|Adoption of SFAS 158, net of income tax||||||||-744|-744|\n|Balance at December 31, 2006|$1|$8|$17,454|$16,574|$-1,357|$1,864|$57|$-803|$33,798|\n", + "See accompanying notes to consolidated financial statements.", + "default for unsecured financing arrangements, including, among other things, limitations on consolidations, mergers and sales of assets.", + "Financial covenants under the 2018, 2016 and 2014 Credit Agreements include a consolidated indebtedness to consolidated EBITDA ratio of no greater than 5.0 to 1.0 through June 30, 2017, and no greater than 4.5 to 1.0 thereafter.", + "If our credit rating falls below investment grade, additional restrictions would result, including restrictions on investments and payment of dividends.", + "We were in compliance with all covenants under the 2018, 2016 and 2014 Credit Agreements as of December 31, 2018.", + "As of December 31, 2018, there were no borrowings outstanding under the Multicurrency Revolving Facility.", + "We may, at our option, redeem our senior notes, in whole or in part, at any time upon payment of the principal, any applicable make-whole premium, and accrued and unpaid interest to the date of redemption, except that the Floating Rate Notes due 2021 may not be redeemed until on or after March 20, 2019 and such notes do not have any applicable make-whole premium.", + "In addition, we may redeem, at our option, the 2.700% Senior Notes due 2020, the 3.375% Senior Notes due 2021, the 3.150% Senior Notes due 2022, the 3.700% Senior Notes due 2023, the 3.550% Senior Notes due 2025, the 4.250% Senior Notes due 2035 and the 4.450% Senior Notes due 2045 without any make-whole premium at specified dates ranging from one month to six months in advance of the scheduled maturity date.", + "The estimated fair value of our senior notes as of December 31, 2018, based on quoted prices for the specific securities from transactions in over-the-counter markets (Level 2), was $7,798.9 million.", + "The estimated fair value of Japan Term Loan A and Japan Term Loan B, in the aggregate, as of December 31, 2018, based upon publicly available market yield curves and the terms of the debt (Level 2), was $294.7 million.", + "The carrying values of U. S. Term Loan B and U. S. Term Loan C approximate fair value as they bear interest at short-term variable market rates.", + "We entered into interest rate swap agreements which we designated as fair value hedges of underlying fixed-rate obligations on our senior notes due 2019 and 2021.", + "These fair value hedges were settled in 2016.", + "In 2016, we entered into various variable-to-fixed interest rate swap agreements that were accounted for as cash flow hedges of U. S. Term Loan B.", + "In 2018, we entered into cross-currency interest rate swaps that we designated as net investment hedges.", + "The excluded component of these net investment hedges is recorded in interest expense, net.", + "See Note 13 for additional information regarding our interest rate swap agreements.", + "We also have available uncommitted credit facilities totaling $55.0 million.", + "At December 31, 2018 and 2017, the weighted average interest rate for our borrowings was 3.1 percent and 2.9 percent, respectively.", + "We paid $282.8 million, $317.5 million, and $363.1 million in interest during 2018, 2017, and 2016, respectively.12.", + "Accumulated Other Comprehensive (Loss) Income AOCI refers to certain gains and losses that under GAAP are included in comprehensive income but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders\u2019 equity.", + "Amounts in AOCI may be reclassified to net earnings upon the occurrence of certain events.", + "Our AOCI is comprised of foreign currency translation adjustments, including unrealized gains and losses on net investment hedges, unrealized gains and losses on cash flow hedges, and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions on our defined benefit plans.", + "Foreign currency translation adjustments are reclassified to net earnings upon sale or upon a complete or substantially complete liquidation of an investment in a foreign entity.", + "Unrealized gains and losses on cash flow hedges are reclassified to net earnings when the hedged item affects net earnings.", + "Amounts related to defined benefit plans that are in AOCI are reclassified over the service periods of employees in the plan.", + "See Note 14 for more information on our defined benefit plans.", + "The following table shows the changes in the components of AOCI, net of tax (in millions):", + "||Foreign Currency Translation|Cash Flow Hedges|Defined Benefit Plan Items|Total AOCI|\n|Balance December 31, 2017|$121.5|$-66.5|$-138.2|$-83.2|\n|AOCI before reclassifications|-135.4|68.2|-29.7|-96.9|\n|Reclassifications to retained earnings (Note 2)|-17.4|-4.4|-21.1|-42.9|\n|Reclassifications|-|23.6|12.0|35.6|\n|Balance December 31, 2018|$-31.3|$20.9|$-177.0|$-187.4|\n", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (COMBINED FOR CON EDISON AND CON EDISON OF NEW YORK)\u2013CONTINUED Con Edison of New York Electric Con Edison of New York\u2019s electric sales and deliveries, excluding off-system sales, in 2005 compared with 2004 were:", + "||Millions of kWhs Delivered|Revenues in Millions|\n|| Twelve Months Ended|| Twelve Months Ended||\n| Description| December 31, 2005| December 31, 2004|Variation|Percent Variation| December 31, 2005| December 31, 2004|Variation|Percent Variation|\n|Residential/Religious|13,690|12,673|1,017|8.0%|$2,884|$2,399|$485|20.2%|\n|Commercial/Industrial|15,402|16,966|-1,564|-9.2|2,869|2,722|147|5.4|\n|Retail access customers|16,848|14,143|2,705|19.1|679|699|-20|-2.9|\n|NYPA, Municipal Agency and other sales|11,396|10,959|437|4.0|292|270|22|8.2|\n|Other operating revenues|-|-|-|-|224|28|196|Large|\n| Total| 57,336| 54,741|2,595|4.7%|$6,948|$6,118|$830|13.6%|\n", + "Con Edison of New York\u2019s electric operating revenues were $830 million higher in 2005 than in 2004, due primarily to increased recoverable purchased power and fuel costs ($405 million), warmer summer weather and sales growth ($119 million), the electric rate plan that took effect in April 2005 ($282 million), the charge in 2004 to resolve certain issues relating primarily to the treatment of prior period pension credits ($100 million) and recovery of costs relating to the East River Repowering Project ($54 million), offset in part by lower revenue taxes ($76 million; see \u201cState Income Tax\u201d in Note A to the financial statements), and provision for refund to customers of shared earnings above the target level ($53 million).", + "Electric sales and delivery volumes in Con Edison of New York\u2019s service area increased 4.7 percent in 2005 compared with 2004, primarily reflecting warmer weather in the 2005 summer period compared with 2004 weather, growth in usage by existing customers and increased new business.", + "After adjusting for variations, principally weather and billing days in each period, electric sales and delivery volumes in Con Edison of New York\u2019s service area increased 2.4 percent in 2005 compared with 2004.", + "Con Edison of New York\u2019s electric purchased power costs increased $285 million in 2005 compared with 2004 reflecting an increase in unit costs, partially offset by decreased purchased volumes associated with additional customers obtaining their energy supply through competitive providers.", + "Electric fuel costs increased $120 million, reflecting higher sendout volumes from the company\u2019s generating facilities and an increase in unit costs.", + "Con Edison of New York\u2019s electric operating income increased $133 million in 2005 compared with 2004." + ], + "question_id": "simplong-test-337", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the net change in the other retained interests not reflected in the table during 2018 , in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements \u2030 Purchased interests represent senior and subordinated interests, purchased in connection with secondary market-making activities, in securitization entities in which the firm also holds retained interests.", + "\u2030 Substantially all of the total outstanding principal amount and total retained interests relate to securitizations during 2014 and thereafter as of December 2018, and relate to securitizations during 2012 and thereafter as of December 2017.", + "\u2030 The fair value of retained interests was $3.28 billion as of December 2018 and $2.13 billion as of December 2017.", + "In addition to the interests in the table above, the firm had other continuing involvement in the form of derivative transactions and commitments with certain nonconsolidated VIEs.", + "The carrying value of these derivatives and commitments was a net asset of $75 million as of December 2018 and $86 million as of December 2017, and the notional amount of these derivatives and commitments was $1.09 billion as of December 2018 and $1.26 billion as of December 2017.", + "The notional amounts of these derivatives and commitments are included in maximum exposure to loss in the nonconsolidated VIE table in Note 12.", + "The table below presents information about the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests.", + "||As of December|\n|$ in millions|2018|2017|\n|Fair value of retained interests|$ 3,151|$2,071|\n|Weighted average life (years)|7.2|6.0|\n|Constant prepayment rate|11.9%|9.4%|\n|Impact of 10% adverse change|$ -27|$ -19|\n|Impact of 20% adverse change|$ -53|$ -35|\n|Discount rate|4.7%|4.2%|\n|Impact of 10% adverse change|$ -75|$ -35|\n|Impact of 20% adverse change|$ -147|$ -70|\n", + "In the table above: \u2030 Amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests.", + "\u2030 Changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear.", + "\u2030 The impact of a change in a particular assumption is calculated independently of changes in any other assumption.", + "In practice, simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above.", + "\u2030 The constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value.", + "\u2030 The discount rate for retained interests that relate to U. S. government agency-issued collateralized mortgage obligations does not include any credit loss.", + "Expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests.", + "The firm has other retained interests not reflected in the table above with a fair value of $133 million and a weighted average life of 4.2 years as of December 2018, and a fair value of $56 million and a weighted average life of 4.5 years as of December 2017.", + "Due to the nature and fair value of certain of these retained interests, the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of both December 2018 and December 2017.", + "The firm\u2019s maximum exposure to adverse changes in the value of these interests is the carrying value of $133 million as of December 2018 and $56 million as of December 2017.", + "Note 12.", + "Variable Interest Entities A variable interest in a VIE is an investment (e. g. , debt or equity) or other interest (e. g. , derivatives or loans and lending commitments) that will absorb portions of the VIE\u2019s expected losses and/or receive portions of the VIE\u2019s expected residual returns.", + "The firm\u2019s variable interests in VIEs include senior and subordinated debt; loans and lending commitments; limited and general partnership interests; preferred and common equity; derivatives that may include foreign currency, equity and/or credit risk; guarantees; and certain of the fees the firm receives from investment funds.", + "Certain interest rate, foreign currency and credit derivatives the firm enters into with VIEs are not variable interests because they create, rather than absorb, risk.", + "VIEs generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the VIE.", + "The debt and equity securities issued by a VIE may include tranches of varying levels of subordination.", + "The firm\u2019s involvement with VIEs includes securitization of financial assets, as described in Note 11, and investments in and loans to other types of VIEs, as described below.", + "See Note 11 for further information about securitization activities, including the definition of beneficial interests.", + "See Note 3 for the firm\u2019s consolidation policies, including the definition of a VIE.", + "The completion factor method is used for the months of incurred claims prior to the most recent three months because the historical percentage of claims processed for those months is at a level sufficient to produce a consistently reliable result.", + "Conversely, for the most recent three months of incurred claims, the volume of claims processed historically is not at a level sufficient to produce a reliable result, which therefore requires us to examine historical trend patterns as the primary method of evaluation.", + "Medical cost trends potentially are more volatile than other segments of the economy.", + "The drivers of medical cost trends include increases in the utilization of hospital and physician services, prescription drugs, and new medical technologies, as well as the inflationary effect on the cost per unit of each of these expense components.", + "Other external factors such as government-mandated benefits or other regulatory changes, catastrophes, and epidemics also may impact medical cost trends.", + "Additionally, as we realign our commercial strategy, we continue to reduce the level of traditional utilization management functions such as pre\u0002authorization of services, monitoring of inpatient admissions, and requirements for physician referrals.", + "Other internal factors such as system conversions and claims processing interruptions also may impact our ability to accurately predict estimates of historical completion factors or medical cost trends.", + "All of these factors are considered in estimating IBNR and in estimating the per member per month claims trend for purposes of determining the reserve for the most recent three months.", + "Each of these factors requires significant judgment by management.", + "The completion and claims per member per month trend factors are the most significant factors impacting the IBNR estimate.", + "The following table illustrates the sensitivity of these factors and the estimated potential impact on our operating results caused by changes in these factors based on December 31, 2003 data:", + "|Completion Factor (a):|Claims Trend Factor (b):|\n| (Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|(Decrease) Increase in Factor|Increase (Decrease) in Medical and Other Expenses Payable|\n|(dollars in thousands)|\n|-3%|$136,000|-3%|$-59,000|\n|-2%|$88,000|-2%|$-41,000|\n|-1%|$43,000|-1%|$-22,000|\n|1%|$-40,000|1%|$14,000|\n|2%|$-79,000|2%|$33,000|\n|3%|$-116,000|3%|$51,000|\n", + "(a) Reflects estimated potential changes in medical and other expenses payable caused by changes in completion factors for incurred months prior to the most recent three months.", + "(b) Reflects estimated potential changes in medical and other expenses payable caused by changes in annualized claims trend used for the estimation of per member per month incurred claims for the most recent three months.", + "Most medical claims are paid within a few months of the member receiving service from a physician or other health care provider.", + "As a result, these liabilities generally are described as having a \u201cshort-tail\u201d, which causes less than 2% of our medical and other expenses payable as of the end of any given period to be outstanding for more than 12 months.", + "As such, we expect that substantially all of the 2003 estimate of medical and other expenses payable will be known and paid during 2004.", + "Our reserving practice is to consistently recognize the actuarial best point estimate within a level of confidence required by actuarial standards.", + "Actuarial standards of practice generally require a level of confidence such that the liabilities established for IBNR have a greater probability of being adequate versus being insufficient, or such that the liabilities established for IBNR are sufficient to cover obligations under an assumption of moderately adverse conditions.", + "Adverse conditions are situations in which the actual claims are", + "TRICARE change orders occur when we perform services or incur costs under the directive of the federal government that were not originally specified in our contracts.", + "Under federal regulations we are entitled to an equitable adjustment to the contract price, which results in additional premium revenues.", + "Examples of items that have necessitated substantial change orders in recent years include congressionally legislated increases in the level of benefits for TRICARE beneficiaries and the administration of new government programs such as TRICARE for Life and TRICARE Senior Pharmacy.", + "Like BPAs, we record revenue applicable to change orders when these amounts are determinable and the collectibility is reasonably assured.", + "Unlike BPAs, where settlement only occurs at specified intervals, change orders may be negotiated and settled at any time throughout the year.", + "Total TRICARE premium and ASO fee receivables were as follows at December 31, 2003 and 2002:", + "||2003|2002|\n||(in thousands)|\n|TRICARE premiums receivable:|||\n|Base receivable|$254,688|$190,339|\n|Bid price adjustments (BPAs)|92,875|104,044|\n|Change orders|7,073|1,400|\n|Subtotal|354,636|295,783|\n|Less: long-term portion of BPAs|-38,794|-86,471|\n|Total TRICARE premiums receivable|$315,842|$209,312|\n|TRICARE ASO fees receivable:|||\n|Base receivable|$\u2014|$7,205|\n|Change orders|11,968|56,230|\n|Total TRICARE ASO fees receivable|$11,968|$63,435|\n", + "Our TRICARE contracts also contain risk-sharing provisions with the federal government to minimize any losses and limit any profits in the event that medical costs for which we are at risk differ from the levels targeted in our contracts.", + "Amounts receivable from the federal government under such risk-sharing provisions are included in the BPA receivable above, while amounts payable to the federal government under these provisions of approximately $17.3 million at December 31, 2003 are included in medical and other expenses payable in our consolidated balance sheets.", + "Investment Securities Investment securities totaled $1,995.8 million, or 38% of total assets at December 31, 2003.", + "Debt securities totaled $1,960.6 million, or 98% of our total investment portfolio.", + "More than 94% of our debt securities were of investment-grade quality, with an average credit rating of AA by Standard & Poor\u2019s at December 31, 2003.", + "Most of the debt securities that are below investment grade are rated at the higher end (B or better) of the non\u0002investment grade spectrum.", + "Our investment policy limits investments in a single issuer and requires diversification among various asset types.", + "Duration is indicative of the relationship between changes in market value to changes in interest rates, providing a general indication of the sensitivity of the fair values of our debt securities to changes in interest rates.", + "However, actual market values may differ significantly from estimates based on duration.", + "The average duration of our debt securities was approximately 3.5 years at December 31, 2003.", + "Based on this duration, a 1% increase in interest rates would generally decrease the fair value of our debt securities by approximately $70 million.", + "Our investment securities are categorized as available for sale and, as a result, are stated at fair value.", + "Fair value of publicly traded debt and equity securities are based on quoted market prices.", + "Non-traded debt securities are priced independently by a third party vendor.", + "Fair value of venture capital debt securities that are privately", + "Revenue for other healthcare services is recognized on a fee-for-service basis at estimated collectible amounts at the time services are rendered.", + "Our fees are determined in advance for each type of service performed.", + "Investment Securities Investment securities totaled $9.8 billion, or 47.3% of total assets at December 31, 2013, and $9.8 billion, or 49% of total assets at December 31, 2012.", + "Debt securities, detailed below, comprised this entire investment portfolio at December 31, 2013 and at December 31, 2012.", + "The fair value of debt securities were as follows at December 31, 2013 and 2012:" + ], + "question_id": "simplong-test-338", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average value of CardServices \u2013 reported for Loan losses in 2009, 2008, and 2007? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis The table below presents our average monthly assets under supervision by asset class.", + "||Average for theYear Ended December|\n|$ in billions|2017|2016|2015|\n|Alternative investments|$ 162|$ 149|$ 145|\n|Equity|292|256|247|\n|Fixed income|633|578|530|\n|Total long-term AUS|1,087|983|922|\n|Liquidity products|330|326|272|\n|Total AUS|$1,417|$1,309|$1,194|\n", + "Operating Environment.", + "During 2017, Investment Management operated in an environment characterized by generally higher asset prices, resulting in appreciation in both equity and fixed income assets.", + "In addition, our long\u0002term assets under supervision increased from net inflows primarily in fixed income and alternative investment assets.", + "These increases were partially offset by net outflows in liquidity products.", + "As a result, the mix of average assets under supervision during 2017 shifted slightly from liquidity products to long-term assets under supervision as compared to the mix at the end of 2016.", + "In the future, if asset prices decline, or investors favor assets that typically generate lower fees or investors withdraw their assets, net revenues in Investment Management would likely be negatively impacted.", + "Following a challenging first quarter of 2016, market conditions improved during the remainder of 2016 with higher asset prices resulting in full year appreciation in both equity and fixed income assets.", + "Also, our assets under supervision increased during 2016 from net inflows, primarily in fixed income assets, and liquidity products.", + "The mix of our average assets under supervision shifted slightly compared with 2015 from long-term assets under supervision to liquidity products.", + "Management fees were impacted by many factors, including inflows to advisory services and outflows from actively-managed mutual funds.2017 versus 2016.", + "Net revenues in Investment Management were $6.22 billion for 2017, 7% higher than 2016, due to higher management and other fees, reflecting higher average assets under supervision, and higher transaction revenues.", + "During the year, total assets under supervision increased $115 billion to $1.49 trillion.", + "Long\u0002term assets under supervision increased $128 billion, including net market appreciation of $86 billion, primarily in equity and fixed income assets, and net inflows of $42 billion (which includes $20 billion of inflows in connection with the Verus acquisition and $5 billion of equity asset outflows in connection with the Australian divestiture), primarily in fixed income and alternative investment assets.", + "Liquidity products decreased $13 billion (which includes $3 billion of inflows in connection with the Verus acquisition).", + "Operating expenses were $4.80 billion for 2017, 3% higher than 2016, primarily due to increased compensation and benefits expenses, reflecting higher net revenues.", + "Pre-tax earnings were $1.42 billion in 2017, 25% higher than 2016.2016 versus 2015.", + "Net revenues in Investment Management were $5.79 billion for 2016, 7% lower than 2015.", + "This decrease primarily reflected significantly lower incentive fees compared with a strong 2015.", + "In addition, management and other fees were slightly lower, reflecting shifts in the mix of client assets and strategies, partially offset by the impact of higher average assets under supervision.", + "During 2016, total assets under supervision increased $127 billion to $1.38 trillion.", + "Long-term assets under supervision increased $75 billion, including net inflows of $42 billion, primarily in fixed income assets, and net market appreciation of $33 billion, primarily in equity and fixed income assets.", + "In addition, liquidity products increased $52 billion.", + "Operating expenses were $4.65 billion for 2016, 4% lower than 2015, due to decreased compensation and benefits expenses, reflecting lower net revenues.", + "Pre-tax earnings were $1.13 billion in 2016, 17% lower than 2015.", + "Geographic Data See Note 25 to the consolidated financial statements for a summary of our total net revenues, pre-tax earnings and net earnings by geographic region.", + "ferred capital debt securities, as issuances of FDIC-guaranteed debt and non-FDIC guaranteed debt in both the U. S. and European markets were more than offset by redemptions.", + "Cash proceeds resulted from an increase in securities loaned or sold under repur\u0002chase agreements, partly attributable to favorable pricing and to financing the increased size of the Firm\u2019s AFS securities portfolio; and the issuance of $5.8 billion of common stock.", + "There were no repurchases in the open market of common stock or the warrants during 2009.", + "In 2008, net cash provided by financing activities was $247.8 billion due to: growth in wholesale deposits, in particular, inter\u0002est- and noninterest-bearing deposits in TSS (driven by both new and existing clients, and due to the deposit inflows related to the heightened volatility and credit concerns affecting the global markets that began in the third quarter of 2008), as well as increases in AM and CB (due to organic growth); proceeds of $25.0 billion from the issuance of preferred stock and the War\u0002rant to the U. S. Treasury under the Capital Purchase Program; additional issuances of common stock and preferred stock used for general corporate purposes; an increase in other borrowings due to nonrecourse secured advances under the Federal Reserve Bank of Boston AML Facility to fund the purchase of asset-backed commercial paper from money market mutual funds; increases in federal funds purchased and securities loaned or sold under repurchase agreements in connection with higher client demand for liquidity and to finance growth in the Firm\u2019s AFS securities portfolio; and a net increase in long-term debt due to a combina\u0002tion of non-FDIC guaranteed debt and trust preferred capital debt securities issued prior to December 4, 2008, and the issuance of $20.8 billion of FDIC-guaranteed long-term debt issued during the fourth quarter of 2008.", + "The fourth-quarter FDIC-guaranteed debt issuance was offset partially by maturities of non-FDIC guaranteed long-term debt during the same period.", + "The increase in long-term debt (including trust preferred capital debt securities) was used primarily to fund certain illiquid assets held by the parent holding company and to build liquidity.", + "Cash was also used to pay dividends on common and preferred stock.", + "The Firm did not repurchase any shares of its common stock during 2008.", + "In 2007, net cash provided by financing activities was $184.1 billion due to a net increase in wholesale deposits from growth in business volumes, in particular, interest-bearing deposits at TSS, AM and CB; net issuances of long-term debt (including trust preferred capital debt securities) primarily to fund certain illiquid assets held by the parent holding company and build liquidity, and by IB from client-driven structured notes transactions; and growth in commercial paper issuances and other borrowed funds due to growth in the volume of liability balances in sweep ac\u0002counts in TSS and CB, and to fund trading positions and to fur\u0002ther build liquidity.", + "Cash was used to repurchase common stock and pay dividends on common stock.", + "Credit ratings The cost and availability of financing are influenced by credit rat\u0002ings.", + "Reductions in these ratings could have an adverse effect on the Firm\u2019s access to liquidity sources, increase the cost of funds, trigger additional collateral or funding requirements and decrease the number of investors and counterparties willing to lend to the Firm.", + "Additionally, the Firm\u2019s funding requirements for VIEs and other third-party commitments may be adversely affected.", + "For additional information on the impact of a credit ratings downgrade on the funding requirements for VIEs, and on derivatives and collat\u0002eral agreements, see Special-purpose entities on pages 86\u201387 and Ratings profile of derivative receivables marked to market (\u201cMTM\u201d), and Note 5 on page 111 and pages 175\u2013183, respec\u0002tively, of this Annual Report.", + "Critical factors in maintaining high credit ratings include a stable and diverse earnings stream, strong capital ratios, strong credit quality and risk management controls, diverse funding sources, and disciplined liquidity monitoring procedures.", + "The credit ratings of the parent holding company and each of the Firm\u2019s significant banking subsidiaries as of January 15, 2010, were as follows.", + "||Short-term debt|Senior long-term debt|\n||Moody\u2019s|S&P|Fitch|Moody\u2019s|S&P|Fitch|\n|JPMorgan Chase & Co.|P-1|A-1|F1+|Aa3|A+|AA-|\n|JPMorgan Chase Bank, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n|Chase Bank USA, N.A.|P-1|A-1+|F1+|Aa1|AA-|AA-|\n", + "Ratings actions affecting the Firm On March 4, 2009, Moody\u2019s revised the outlook on the Firm to negative from stable.", + "This action was the result of Moody\u2019s view that the Firm\u2019s ability to generate capital would be adversely af\u0002fected by higher credit costs due to the global recession.", + "The rating action by Moody\u2019s in the first quarter of 2009 did not have a mate\u0002rial impact on the cost or availability of the Firm\u2019s funding.", + "At December 31, 2009, Moody\u2019s outlook remained negative.", + "Ratings from S&P and Fitch on JPMorgan Chase and its principal bank subsidiaries remained unchanged at December 31, 2009, from December 31, 2008.", + "At December 31, 2009, S&P\u2019s outlook remained negative, while Fitch\u2019s outlook remained stable.", + "Following the Firm\u2019s earnings release on January 15, 2010, S&P and Moody\u2019s announced that their ratings on the Firm remained unchanged.", + "If the Firm\u2019s senior long-term debt ratings were downgraded by one additional notch, the Firm believes the incremental cost of funds or loss of funding would be manageable, within the context of current market conditions and the Firm\u2019s liquidity resources.", + "JPMorgan Chase\u2019s unsecured debt does not contain requirements that would call for an acceleration of payments, maturities or changes in the structure of the existing debt, provide any limitations on future borrowings or require additional collateral, based on unfavorable", + "Management\u2019s discussion and analysis JPMorgan Chase & Co. /2009 Annual Report 122 Residential real estate loan modification activities: During 2009, the Firm reviewed its residential real estate portfolio to identify homeowners most in need of assistance, opened new regional counseling centers, hired additional loan counselors, introduced new financing alternatives, proactively reached out to borrowers to offer pre-qualified modifications, and commenced a new process to independently review each loan before moving it into the foreclosure process.", + "In addition, during the first quarter of 2009, the U. S. Treasury introduced the MHA programs, which are designed to assist eligible homeowners in a number of ways, one of which is by modifying the terms of their mortgages.", + "The Firm is participating in the MHA programs while continuing to expand its other loss-mitigation efforts for financially distressed borrowers who do not qualify for the MHA programs.", + "The MHA programs and the Firm\u2019s other loss-mitigation programs for financially troubled borrowers generally represent various conces\u0002sions such as term extensions, rate reductions and deferral of principal payments that would have otherwise been required under the terms of the original agreement.", + "When the Firm modi\u0002fies home equity lines of credit in troubled debt restructurings, future lending commitments related to the modified loans are canceled as part of the terms of the modification.", + "Under all of these programs, borrowers must make at least three payments under the revised contractual terms during a trial modification period and be successfully re-underwritten with income verifica\u0002tion before their loans can be permanently modified.", + "The Firm\u2019s loss-mitigation programs are intended to minimize economic loss to the Firm, while providing alternatives to foreclosure.", + "The success of these programs is highly dependent on borrowers\u2019 ongoing ability and willingness to repay in accordance with the modified terms and could be adversely affected by additional deterioration in the economic environment or shifts in borrower behavior.", + "For both the Firm\u2019s on-balance sheet loans and loans serviced for others, approximately 600,000 mortgage modifica\u0002tions had been offered to borrowers in 2009.", + "Of these, 89,000 have achieved permanent modification.", + "Substantially all of the loans contractually modified to date were modified under the Firm\u2019s other loss mitigation programs.", + "The following table presents information relating to restructured on-balance sheet residential real estate loans for which concessions have been granted to borrowers experiencing financial difficulty as of December 31, 2009.", + "Modifications of purchased credit-impaired loans con\u0002tinue to be accounted for and reported as purchased credit-impaired loans, and the impact of the modification is incorporated into the Firm\u2019s quarterly assessment of whether a probable and/or significant change in estimated future principal cash flows has occurred.", + "Modifications of loans other than purchased credit-impaired are generally accounted for and reported as troubled debt restructurings.", + "Restructured residential real estate loans(a)", + "| December 31, 2009|On-balance sheet loans|Nonperforming on-balance sheet loans(d)|\n|(in millions)|\n| Restructured residential real estate loans \u2013 excludingpurchased credit-impaired loans(b)|||\n|Home equity \u2013 senior lien|$168|$30|\n|Home equity \u2013 junior lien|222|43|\n|Prime mortgage|634|243|\n|Subprime mortgage|1,998|598|\n|Option ARMs|8|6|\n| Total restructured residential real estate loans \u2013 excluding purchased credit-impaired loans|$3,030|$920|\n| Restructured purchased credit-impaired loans(c)|||\n|Home equity|$453|NA|\n|Prime mortgage|1,526|NA|\n|Subprime mortgage|1,954|NA|\n|Option ARMs|2,972|NA|\n| Total restructured purchased credit-impaired loans|$6,905|NA|\n", + "(a) Restructured residential real estate loans were immaterial at December 31, 2008.", + "(b) Amounts represent the carrying value of restructured residential real estate loans.", + "(c) Amounts represent the unpaid principal balance of restructured purchased credit-impaired loans.", + "(d) Nonperforming loans modified in a troubled debt restructuring may be returned to accrual status when repayment is reasonably assured and the borrower has made a minimum of six payments under the new terms.", + "Real estate owned (\u201cREO\u201d): As part of the residential real estate foreclosure process, loans are written down to the fair value of the underlying real estate asset, less costs to sell.", + "In those in\u0002stances where the Firm gains title, ownership and possession of individual properties at the completion of the foreclosure process, these REO assets are managed for prompt sale and disposition at the best possible economic value.", + "Any further gains or losses on REO assets are recorded as part of other income.", + "Operating ex\u0002pense, such as real estate taxes and maintenance, are charged to other expense.", + "REO assets declined from year-end 2008 as a result of the foreclosure moratorium in early 2009 and the subsequent increase in loss mitigation activities.", + "It is anticipated that REO assets will increase over the next several quarters, as loans moving through the foreclosure process are expected to increase.", + "The calculation of the allowance for loan losses to total retained loans, excluding both home lending purchased credit-impaired loans and loans held by the Washington Mutual Master Trust, is presented below.", + "|December 31, (in millions, except ratios)|2009|2008|\n|Allowance for loan losses|$31,602|$23,164|\n|Less: Allowance for purchased credit-impaired loans|1,581|\u2014|\n|Adjusted allowance for loan losses|$30,021|$23,164|\n|Total loans retained|$627,218|$728,915|\n|Less: Firmwide purchased credit-impaired loans|81,380|89,088|\n|Loans held by the Washington Mutual Master Trust|1,002|\u2014|\n|Adjusted loans|$544,836|$639,827|\n| Allowance for loan losses to ending loans excluding purchased credit-impaired loans and loans held by the Washington Mutual Master Trust|5.51%|3.62%|\n", + "The following table presents the allowance for credit losses by business segment at December 31, 2009 and 2008.", + "||Allowance for credit losses|\n|| 2009|2008|\n|December 31,||Lending-related|||Lending-related||\n|(in millions)|Loan losses|commitments|Total|Loan losses|commitments|Total|\n|Investment Bank|$3,756|$485|$4,241|$3,444|$360|$3,804|\n|Commercial Banking|3,025|349|3,374|2,826|206|3,032|\n|Treasury & Securities Services|88|84|172|74|63|137|\n|Asset Management|269|9|278|191|5|196|\n|Corporate/Private Equity|7|\u2014|7|10|\u2014|10|\n| Total Wholesale|7,145|927|8,072|6,545|634|7,179|\n|Retail Financial Services|14,776|12|14,788|8,918|25|8,943|\n|Card Services|9,672|\u2014|9,672|7,692|\u2014|7,692|\n|Corporate/Private Equity|9|\u2014|9|9|\u2014|9|\n| Total Consumer|24,457|12|24,469|16,619|25|16,644|\n| Total|$31,602|$939|$32,541|$23,164|$659|$23,823|\n", + "Provision for credit losses The managed provision for credit losses was $38.5 billion for the year ended December 31, 2009, up by $13.9 billion from the prior year.", + "The prior-year included a $1.5 billion charge to conform Washington Mutual\u2019s allowance for loan losses, which affected both the consumer and wholesale portfolios.", + "For the purpose of the following analysis, this charge is excluded.", + "The consumer-managed provision for credit losses was $34.5 billion for the year ended December 31, 2009, compared with $20.4 billion in the prior year, reflecting an increase in the allowance for credit losses in the home lending and credit card loan portfolios.", + "Included in the 2009 addition to the allowance for loan losses was a $1.6 billion increase related to estimated deteriora\u0002tion in the Washington Mutual purchased credit-impaired portfolio.", + "The wholesale provision for credit losses was $4.0 billion for the year ended Decem\u0002ber 31, 2009, compared with $2.7 billion in the prior year, reflecting continued weakness in the credit environment.", + "|Year ended December 31,|Provision for credit losses|\n|(in millions)|Loan losses|Lending-related commitments|Total|\n||2009|2008|2007|2009|2008|2007|2009|2008|2007|\n|Investment Bank|$2,154|$2,216|$376|$125|$-201|$278|$2,279|$2,015|$654|\n|Commercial Banking|1,314|505|230|140|-41|49|1,454|464|279|\n|Treasury & Securities Services|34|52|11|21|30|8|55|82|19|\n|Asset Management|183|87|-19|5|-2|1|188|85|-18|\n|Corporate/Private Equity(a)(b)|-1|676|\u2014|-1|5|\u2014|-2|681|\u2014|\n| Total Wholesale|3,684|3,536|598|290|-209|336|3,974|3,327|934|\n|Retail Financial Services|15,950|9,906|2,620|-10|-1|-10|15,940|9,905|2,610|\n|CardServices \u2013 reported|12,019|6,456|3,331|\u2014|\u2014|\u2014|12,019|6,456|3,331|\n|Corporate/Private Equity(a)(c)(d)|82|1,339|-11|\u2014|-48|\u2014|82|1,291|-11|\n| Total Consumer|28,051|17,701|5,940|-10|-49|-10|28,041|17,652|5,930|\n| Total provision for creditlosses \u2013 reported|31,735|21,237|6,538|280|-258|326|32,015|20,979|6,864|\n|Credit card\u2013 securitized|6,443|3,612|2,380|\u2014|\u2014|\u2014|6,443|3,612|2,380|\n| Total provision for creditlosses \u2013 managed|$38,178|$24,849|$8,918|$280|$-258|$326|$38,458|$24,591|$9,244|\n", + "(a) Includes accounting conformity provisions related to the Washington Mutual transaction in 2008.", + "(b) Includes provision expense related to loans acquired in the Bear Stearns merger in the second quarter of 2008.", + "(c) Includes amounts related to held-for-investment prime mortgages transferred from AM to the Corporate/Private Equity segment.", + "(d) In November 2008, the Firm transferred $5.8 billion of higher quality credit card loans from the legacy Chase portfolio to a securitization trust previously established by Washington Mutual (\u2018\u2018the Trust\u2019\u2019).", + "As a result of converting higher credit quality Chase-originated on-book receivables to the Trust\u2019s seller\u2019s interest which has a higher overall loss rate reflective of the total assets within the Trust, approximately $400 million of incremental provision expense was recorded during the fourth quarter.", + "This incremental provision expense was recorded in the Corporate segment as the action related to the acquisition of Washington Mutual\u2019s banking operations.", + "For further discussion of credit card securitizations, see Note 15 on pages 206---213 of this Annual Report." + ], + "question_id": "simplong-test-339", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Purchase obligations of December 31, 2009 Due after 5 Years, Commercial real estate of December 31 2009 Amount, and Small business commercial \u2013 domestic of December 31 2009 Amount ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "GWIM provides a wide offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of our individual and institutional customer base.", + "Our clients have access to a range of services offered through three primary businesses: MLGWM; U. S. Trust, Bank of America Private Wealth Management (U. S. Trust); and Columbia.", + "The results of the Retirement & Philanthropic Serv\u0002ices business, the Corporation\u2019s approximate 34 percent economic ownership interest in BlackRock and other miscellaneous items are included in Other within GWIM.", + "As part of the Merrill Lynch acquisition, we added its financial advisors and an economic ownership interest of approximately 50 percent in BlackRock, a publicly traded investment management company.", + "During 2009, BlackRock completed its purchase of Barclays Global Investors, an asset management business, from Barclays PLC which had the effect of diluting our ownership interest in BlackRock and, for accounting pur\u0002poses, was treated as a sale of a portion of our ownership interest.", + "As a result, upon the closing of this transaction, the Corporation\u2019s economic ownership interest in BlackRock was reduced to approximately 34 percent and we recorded a pre-tax gain of $1.1 billion.", + "Net income increased $1.1 billion, or 78 percent, to $2.5 billion as higher total revenue was partially offset by increases in noninterest expense and provision for credit losses.", + "Net interest income increased $767 million, or 16 percent, to $5.6 billion primarily due to the acquisition of Merrill Lynch partially offset by a lower net interest income allocation from ALM activities and the impact of the migration of client balances during 2009 to Deposits and Home Loans & Insurance.", + "GWIM\u2019s average loan and deposit growth benefited from the acquisition of Merrill Lynch and the shift of client assets from off-balance sheet (e. g. , money market funds) to on-balance sheet prod\u0002ucts (e. g. , deposits) partially offset by the net migration of customer rela\u0002tionships.", + "A more detailed discussion regarding migrated customer relationships and related balances is provided in the following MLGWM discussion.", + "Noninterest income increased $9.5 billion to $12.6 billion primarily due to higher investment and brokerage services income driven by the Merrill Lynch acquisition, the $1.1 billion gain on our investment in BlackRock and the lower level of support provided to certain cash funds partially offset by the impact of lower average equity market levels and net outflows primarily in the cash complex.", + "Provision for credit losses increased $397 million, or 60 percent, to $1.1 billion, reflecting the weak economy during 2009 which drove higher net charge-offs in the consumer real estate and commercial portfolios including a single large commercial charge-off.", + "Noninterest expense increased $8.2 billion to $13.1 billion driven by the addition of Merrill Lynch and higher FDIC insurance and special assessment costs partially offset by lower revenue-related expenses.", + "Client Assets The following table presents client assets which consist of AUM, client brokerage assets, assets in custody and client deposits.", + "||December 31|\n|(Dollars in millions)|2009|2008|\n|Assets under management|$749,852|$523,159|\n|Client brokerage assets-1|1,270,461|172,106|\n|Assets in custody|274,472|133,726|\n|Client deposits|224,840|176,186|\n|Less: Client brokerage assets and assets incustody included in assets under management|-346,682|-87,519|\n| Total net client assets|$2,172,943|$917,658|\n", + "(1) Client brokerage assets include non-discretionary brokerage and fee-based assets.", + "The increase in net client assets was driven by the acquisition of Merrill Lynch and higher equity market values at December 31, 2009 compared to 2008 partially offset by outflows that primarily occurred in cash and money market assets due to increasing interest rate pressure.", + "Merrill Lynch Global Wealth Management Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined the Merrill Lynch wealth management business and our former Premier Banking & Investments business to form MLGWM.", + "MLGWM pro\u0002vides a high-touch client experience through a network of approximately 15,000 client-facing financial advisors to our affluent customers with a personal wealth profile of at least $250,000 of investable assets.", + "The addition of Merrill Lynch created one of the largest financial advisor net\u0002works in the world.", + "Merrill Lynch added $10.3 billion in revenue and $1.6 billion in net income during 2009.", + "Total client balances in MLGWM, which include deposits, AUM, client brokerage assets and other assets in cus\u0002tody, were $1.4 trillion at December 31, 2009.", + "MLGWM includes the impact of migrating customers and their related deposit and loan balances to or from Deposits and Home Loans & Insurance.", + "As of the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the segment to which the customers migrated.", + "During 2009, total deposits of $43.4 billion were migrated to Deposits from MLGWM.", + "Conversely, during 2008, total deposits of $20.5 billion were migrated from Deposits to MLGWM.", + "During 2009 and 2008, total loans of $16.6 billion and $1.7 billion were migrated from MLGWM, of which $11.5 billion and $1.6 bil\u0002lion were migrated to Home Loans & Insurance.", + "These changes in 2009 were mainly due to client segmentation threshold changes resulting from the Merrill Lynch acquisition.", + "Table 9 presents total long-term debt and other obligations at December 31, 2009.", + "|| December 31, 2009|\n|(Dollars in millions)| Due in 1 Year or Less| Due after 1 Year through 3 Years| Due after 3 Years through 5 Years| Due after 5 Years| Total|\n|Long-term debt and capital leases|$99,144|$124,054|$72,103|$143,220|$438,521|\n|Operating lease obligations|3,143|5,072|3,355|8,143|19,713|\n|Purchase obligations|11,957|3,667|1,627|2,119|19,370|\n|Other long-term liabilities|610|1,097|848|1,464|4,019|\n| Total long-term debt and other obligations|$114,854|$133,890|$77,933|$154,946|$481,623|\n", + "Debt, lease, equity and other obligations are more fully discussed in Note 13 \u2013 Long-term Debt and Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "The Plans are more fully discussed in Note 17 \u2013 Employee Benefit Plans to the Consolidated Financial Statements.", + "We enter into commitments to extend credit such as loan commit\u0002ments, standby letters of credit (SBLCs) and commercial letters of credit to meet the financing needs of our customers.", + "For a summary of the total unfunded, or off-balance sheet, credit extension commitment amounts by expiration date, see the table in Note 14 \u2013 Commitments and Con\u0002tingencies to the Consolidated Financial Statements.", + "Regulatory Initiatives On November 12, 2009, the Federal Reserve issued the final rule related to changes to Regulation E and on May 22, 2009, the CARD Act was signed into law.", + "For more information on the impact of these new regu\u0002lations, see Regulatory Overview on page 29.", + "In December 2009, the Basel Committee on Banking Supervision released consultative documents on both capital and liquidity.", + "In addition, we will begin Basel II parallel implementation during the second quarter of 2010.", + "For more information, see Basel Regulatory Capital Requirements on page 64.", + "On January 21, 2010, the Federal Reserve, Office of the Comptroller of the Currency, FDIC and Office of Thrift Supervision (collectively, joint agencies) issued a final rule regarding risk-based capital and the impact of adoption of new consolidation rules issued by the FASB.", + "The final rule eliminates the exclusion of certain asset-backed commercial paper (ABCP) program assets from risk-weighted assets and provides a reser\u0002vation of authority to permit the joint agencies to require banks to treat structures that are not consolidated under the accounting standards as if they were consolidated for risk-based capital purposes commensurate with the risk relationship of the bank to the structure.", + "In addition, the final rule allows for an optional delay and phase-in for a maximum of one year for the effect on risk-weighted assets and the regulatory limit on the inclusion of the allowance for loan and lease losses in Tier 2 capital related to the assets that must be consolidated as a result of the accounting change.", + "The transitional relief does not apply to the leverage ratio or to assets in VIEs to which a bank provides implicit support.", + "We have elected to forgo the phase-in period, and accordingly, we con\u0002solidated the amounts for regulatory capital purposes as of January 1, 2010.", + "For more information on the impact of this guidance, see Impact of Adopting New Accounting Guidance on Consolidation on page 64.", + "On December 14, 2009, we announced our intention to increase lend\u0002ing to small- and medium-sized businesses to approximately $21 billion in 2010 compared to approximately $16 billion in 2009.", + "This announce\u0002ment is consistent with the U. S. Treasury\u2019s initiative, announced as part of the Financial Stability Plan on February 2, 2009, to help increase small business owners\u2019 access to credit.", + "As part of the initiative, the U. S. Treas\u0002ury began making direct purchases of up to $15 billion of certain secu\u0002rities backed by Small Business Administration (SBA) loans to improve liquidity in the credit markets and purchasing new securities to ensure that financial institutions feel confident in extending new loans to small businesses.", + "The program also temporarily raises guarantees to up to 90 percent in the SBA\u2019s loan program and temporarily eliminates certain SBA loan fees.", + "We continue to lend to creditworthy small business customers through small business credit cards, loans and lines of credit products.", + "In response to the economic downturn, the FDIC implemented the Temporary Liquidity Guarantee Program (TLGP) to strengthen confidence and encourage liquidity in the banking system by allowing the FDIC to guarantee senior unsecured debt (e. g. , promissory notes, unsubordinated unsecured notes and commercial paper) up to prescribed limits, issued by participating entities beginning on October 14, 2008, and continuing through October 31, 2009.", + "We participated in this program; however, as announced in September 2009, due to improved market liquidity and our ability to issue debt without the FDIC guarantee, we, with the FDIC\u2019s agreement, exited the program and have stopped issuing FDIC\u0002guaranteed debt.", + "At December 31, 2009, we still had FDIC-guaranteed debt outstanding issued under the TLGP of $44.3 billion.", + "The TLGP also offered the Transaction Account Guarantee Program (TAGP) that guaran\u0002teed noninterest-bearing deposit accounts held at participating FDIC\u0002insured institutions on balances in excess of $250,000.", + "We elected to opt out of the six-month extension of the TAGP which extends the program to June 30, 2010.", + "We exited the TAGP effective December 31, 2009.", + "On September 21, 2009, the Corporation reached an agreement to terminate its term sheet with the U. S. government under which the U. S. government agreed in principle to provide protection against the possi\u0002bility of unusually large losses on a pool of the Corporation\u2019s financial instruments that were acquired from Merrill Lynch.", + "In connection with the termination of the term sheet, the Corporation paid a total of $425 mil\u0002lion to the U. S. government to be allocated among the U. S. Treasury, the Federal Reserve and the FDIC.", + "In addition to exiting the TARP as discussed on page 30, terminating the U. S. Government\u2019s asset guarantee term sheet and exiting the TLGP, including the TAGP, we have exited or ceased participation in market dis\u0002ruption liquidity programs created by the U. S. government in response to the economic downturn of 2008.", + "We have exited or repaid borrowings under the Term Auction Facility, U. S. Treasury Temporary Liquidity Guaran\u0002tee Program for Money Market Funds, ABCP Money Market Fund Liquidity Facility, Commercial Paper Federal Funding Facility, Money Market Investor Funding Facility, Term Securities Lending Facility and Primary Dealer Credit Facility.", + "On November 17, 2009, the FDIC issued a final rule that required insured institutions to prepay on December 30, 2009 their estimated", + "Table 29 presents commercial credit exposure by type for utilized, unfunded and total binding committed credit exposure.", + "Commercial uti\u0002lized credit exposure includes funded loans, standby letters of credit, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which the bank is legally bound to advance funds under pre\u0002scribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial committed credit exposure decreased by $10.1 billion, or one percent, at December 31, 2009 compared to December 31, 2008.", + "The decrease was largely driven by reductions in loans and leases partially offset by an increase in derivatives due to the acquisition of Merrill Lynch.", + "Total commercial utilized credit exposure decreased to $494.4 billion at December 31, 2009 compared to $498.7 billion at December 31, 2008.", + "Funded loans and leases declined due to limited demand for acquisition financing and capital expenditures in the large corporate and middle-market portfolios and as clients utilized the improved capital markets more extensively for their funding needs.", + "With the economic outlook remaining uncertain, businesses are aggressively managing work\u0002ing capital and production capacity, maintaining low inventories and deferring capital spending.", + "The increase in derivative assets was driven by the acquisition of Merrill Lynch substantially offset during 2009 by maturing transactions, mark-to-market adjustments from changing inter\u0002est and foreign exchange rates, as well as narrower credit spreads.", + "The loans and leases funded utilization rate was 57 percent at December 31, 2009 compared to 58 percent at December 31, 2008.", + "|| December 31|\n|| Commercial Utilized-1, 2| Commercial Unfunded-1, 3, 4| Total Commercial Committed-1|\n|(Dollars in millions)| 2009|2008| 2009|2008| 2009|2008|\n|Loans and leases|$322,564|$342,767|$293,519|$300,856|$616,083|$643,623|\n|Derivative assets-5|80,689|62,252|\u2013|\u2013|80,689|62,252|\n|Standby letters of credit and financial guarantees|70,238|72,840|6,008|4,740|76,246|77,580|\n|Assets held-for-sale-6|13,473|14,206|781|183|14,254|14,389|\n|Bankers\u2019 acceptances|3,658|3,382|16|13|3,674|3,395|\n|Commercial letters of credit|2,958|2,974|569|791|3,527|3,765|\n|Foreclosed properties and other|797|328|\u2013|\u2013|797|328|\n| Total commercial credit exposure|$494,377|$498,749|$300,893|$306,583|$795,270|$805,332|\n", + "(1) At December 31, 2009, total commercial utilized, total commercial unfunded and total commercial committed exposure include $88.5 billion, $25.7 billion and $114.2 billion, respectively, related to Merrill Lynch.", + "(2) Total commercial utilized exposure at December 31, 2009 and 2008 includes loans and issued letters of credit accounted for under the fair value option and is comprised of loans outstanding of $4.9 billion and $5.4 billion, and letters of credit with a notional amount of $1.7 billion and $1.4 billion.", + "(3) Total commercial unfunded exposure at December 31, 2009 and 2008 includes loan commitments accounted for under the fair value option with a notional amount of $25.3 billion and $15.5 billion.", + "(4) Excludes unused business card lines which are not legally binding.", + "(5) Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements, and have been reduced by cash collateral of $58.4 billion and $34.8 billion at December 31, 2009 and 2008.", + "Not reflected in utilized and committed exposure is additional derivative collateral held of $16.2 billion and $13.4 billion which consists primarily of other marketable securities at December 31, 2009 and 2008.", + "(6) Total commercial committed assets held-for-sale exposure consists of $9.0 billion and $12.1 billion of commercial LHFS exposure (e. g. , commercial mortgage and leveraged finance) and $5.3 billion and $2.3 billion of assets held-for-sale exposure at December 31, 2009 and 2008.", + "Table 30 presents commercial utilized reservable criticized exposure by product type.", + "Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory author\u0002ities.", + "In addition to reservable loans and leases, excluding those accounted for under the fair value option, exposure includes SBLCs, financial guarantees, bankers\u2019 acceptances and commercial letters of credit for which we are legally bound to advance funds under prescribed conditions, during a specified period.", + "Although funds have not been advanced, these exposure types are considered utilized for credit risk management purposes.", + "Total commercial utilized reservable criticized exposure rose by $21.7 billion primarily due to increases in commercial real estate and commercial \u2013 domestic.", + "Commercial real estate increased $10.0 billion primarily due to the non-homebuilder portfolio which has been impacted by the weak economy partially offset by a decrease in the homebuilder portfolio.", + "The $9.3 billion increase in commercial \u2013 domestic reflects deterioration across various lines of business and industries, primarily in Global Banking.", + "At December 31, 2009, approximately 85 percent of the loans within criticized reservable utilized exposure are secured.", + "|| December 31|\n||2009|2008|\n|(Dollars in millions)| Amount|Percent -1|Amount|Percent-1|\n|Commercial \u2013 domestic-2|$28,259|11.66%|$18,963|7.20%|\n|Commercial real estate|23,804|32.13|13,830|19.73|\n|Commercial lease financing|2,229|10.04|1,352|6.03|\n|Commercial \u2013 foreign|2,605|7.12|1,459|3.65|\n||56,897|15.17|35,604|8.99|\n|Small business commercial \u2013 domestic|1,789|10.18|1,333|6.94|\n| Total commercial utilized reservable criticized exposure|$58,686|14.94|$36,937|8.90|\n", + "(1) Percentages are calculated as commercial utilized reservable criticized exposure divided by total commercial utilized reservable exposure for each exposure category.", + "(2) Excludes small business commercial \u2013 domestic exposure.", + "The following table provides a reconciliation of the beginning and ending balances of our foreign pension plan assets measured at fair value that used significant unobservable inputs (Level 3) (in millions):", + "||December 31, 2017|\n|Beginning Balance|$78.7|\n|Gains on assets sold|0.3|\n|Change in fair value of assets|3.8|\n|Net purchases and sales|5.2|\n|Translation gain|3.0|\n|Ending Balance|$91.0|\n", + "We expect that we will have no legally required minimum funding requirements in 2018 for the qualified U. S. and Puerto Rico defined benefit retirement plans, nor do we expect to voluntarily contribute to these plans during 2018.", + "Contributions to foreign defined benefit plans are estimated to be $17.0 million in 2018 .", + "We do not expect the assets in any of our plans to be returned to us in the next year.", + "Defined Contribution Plans We also sponsor defined contribution plans for substantially all of the U. S. and Puerto Rico employees and certain employees in other countries.", + "The benefits offered under these plans are reflective of local customs and practices in the countries concerned.", + "We expensed $47.9 million, $42.5 million and $40.2 million related to these plans for the years ended December 31, 2017, 2016 and 2015, respectively.15.", + "Income Taxes 2017 Tax Act: The President signed U. S. tax reform legislation (\u201c2017 Tax Act\u201d) on December 22, 2017, which is considered the enactment date.", + "The 2017 Tax Act includes a broad range of provisions, many of which significantly differ from those contained in previous U. S. tax law.", + "Changes in tax law are accounted for in the period of enactment.", + "As such, our 2017 consolidated financial statements reflect the immediate tax effect of the 2017 Tax Act.", + "The 2017 Tax Act contains several key provisions including, among other things: ?", + "a one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits (E&P), referred to as the toll charge; ?", + "a reduction in the corporate income tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017; ?", + "the introduction of a new U. S. tax on certain off-shore earnings referred to as global intangible low-taxed income (GILTI) at an effective tax rate of 10.5 percent for tax years beginning after December 31, 2017 (increasing to 13.125 percent for tax years beginning after December 31, 2025), with a partial offset by foreign tax credits; and ?", + "the introduction of a territorial tax system beginning in 2018 by providing a 100 percent dividend received deduction on certain qualified dividends from foreign subsidiaries.", + "During the fourth quarter of 2017, we recorded an income tax benefit of $1,272.4 million, which was comprised of the following: ?", + "income tax benefit of $715.0 million for the one-time deemed repatriation of foreign earnings.", + "This is composed of a $1,181.0 million benefit from the removal of a deferred tax liability we had recorded for the repatriation of foreign earnings prior to the 2017 Tax Act offset by $466.0 million for the toll charge recognized under the 2017 Tax Act.", + "In accordance with the 2017 Tax Act, we expect to elect to pay the toll charge in installments over eight years.", + "As of December 31, 2017, we have recorded current and non-current income tax liabilities related to the toll charge of $82.0 million and $384.0 million, respectively. ?", + "an income tax benefit of $557.4 million, primarily related to the remeasurement of our deferred tax assets and liabilities at the enacted corporate income tax rate of 21 percent.", + "The net benefit recorded was based on currently available information and interpretations made in applying the provisions of the 2017 Tax Act as of the time of filing this Annual Report on Form 10-K. We further refined our estimates related to the impact of the 2017 Tax Act subsequent to the issuance of our earnings release for the fourth quarter of 2017.", + "In accordance with authoritative guidance issued by the SEC, the income tax effect for certain aspects of the 2017 Tax Act represent provisional amounts for which our accounting is incomplete, but with respect to which a reasonable estimate could be determined and recorded during the fourth quarter of 2017.", + "The actual effects of the 2017 Tax Act and final amounts recorded may differ materially from our current estimate of provisional amounts due to, among other things, further interpretive guidance that may be issued by U. S. tax authorities or regulatory bodies, including the SEC and the FASB.", + "We will continue to analyze the 2017 Tax Act and any additional guidance that may be issued so we can finalize the full effects of applying the new legislation on our financial statements in the measurement period, which ends in the fourth quarter of 2018.", + "We continue to evaluate the impacts of the 2017 Tax Act and consider the amounts recorded to be provisional.", + "In addition, we are still evaluating the GILTI provisions of the 2017 Tax Act and their impact, if any, on our consolidated financial statements as of December 31, 2017.", + "The FASB allows companies to adopt an accounting policy to either recognize deferred taxes for GILTI or treat such as a tax cost in the year incurred.", + "We have not yet determined which accounting policy to adopt because determining the impact of the GILTI provisions requires analysis of our existing legal entity structure, the reversal of our U. S. GAAP and U. S. tax basis differences in the assets and liabilities of our foreign subsidiaries, and our ability to offset any tax with foreign tax credits.", + "As such, we did not record a deferred income tax" + ], + "question_id": "simplong-test-340", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "in 2006 what was the total amount authorized by the board of directors authorized for the repurchase of shares in billions", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The Company will continue to recognize interest and penalties related to unrecognized tax benefits as a component of its income tax provision.", + "As of December 31, 2014 and 2013, the Company has $9,409 and $13,890, respectively, accrued for the payment of interest and penalties, excluding the federal tax benefit of interest deductions where applicable.", + "During the years ending December 31, 2014, 2013 and 2012, the Company accrued interest and penalties through the consolidated statements of operations of $(3,579), $74 and $(1,585), respectively.", + "The Company believes that its unrecognized tax benefits could decrease by $14,746 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "The Company will continue to recognize interest and penalties related to unrecognized tax benefits as a component of its income tax provision.", + "As of December 31, 2014 and 2013, the Company has $9,409 and $13,890, respectively, accrued for the payment of interest and penalties, excluding the federal tax benefit of interest deductions where applicable.", + "During the years ending December 31, 2014, 2013 and 2012, the Company accrued interest and penalties through the consolidated statements of operations of $(3,579), $74 and $(1,585), respectively.", + "The Company believes that its unrecognized tax benefits could decrease by $14,746 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "In January 2012, the Company received a \u20ac23,789 assessment from the Belgian tax authority related to its year ended December 31, 2008, asserting that the Company had understated its Belgian tax\u0002able income for that year.", + "The Company filed a formal protest in the first quarter of 2012 refuting the Belgian tax authority\u00a1\u00afs position.", + "The Belgian tax authority set aside the assessment in the third quarter of 2012 and refunded all related deposits, including interest income of \u20ac1,583 earned on such deposits.", + "However, on October 23, 2012, the Belgian tax authority notified the Company of its intent to increase the Company\u00a1\u00afs taxable income for the year ended December 31, 2008 under a revised theory.", + "However, on December 28, 2012, the Belgian tax authority issued assessments for the years ended December 31, 2005 and December 31, 2009, in the amounts of \u20ac46,135 and \u20ac35,567, respectively, including penalties, but excluding interest.", + "The Company filed a formal protest during the first quarter of 2013 relating to the new assessments.", + "In September 2013, the Belgian tax authority denied the Company\u00a1\u00afs protests, and the Company has brought these two years before the Court of First Instance in Bruges.", + "In December 2013, the Belgian tax authority issued additional assessments related to the years ended December 31, 2006, 2007, and 2010, in the amounts of \u20ac38,817, \u20ac39,635, and \u20ac43,117, respectively, including penalties, but excluding interest.", + "The Company filed formal protests during the first quarter of 2014, refuting the Belgian tax authority\u00a1\u00afs position for each of the years assessed.", + "In the quarter ended June 28, 2014, the Company received a formal assessment for the year ended December 31, 2008, totaling \u20ac30,131, against which the Company also submitted its formal protest.", + "All 4 additional years have been brought before the Court of First Appeal in November 2014.", + "In January of 2015, the Company met with the Court of First Appeal in Bruges and agreed with the Belgium tax authorities to consolidate and argue the issues regarding the years 2005 and 2009, and apply the ruling to all of the open years (to the extent there are no additional facts/procedural arguments in the other years).", + "The Company continues to disagree with the views of the Belgian tax authority on this matter and will persist in its vigorous defense.", + "Although there can be no assurances, the Company believes the ultimate outcome of these actions will not have a material adverse effect on its financial condition but could have a material adverse effect on its results of operations, liquidity or cash flows in a given quarter or year.", + "NOTE 16 COMMITMENTS AND CONTINGENCIES The Company is obligated under various operating leases for office and manufacturing space, machinery, and equipment.", + "Future minimum lease payments under non-cancelable capital and operating leases (with initial or remaining lease terms in excess of one year) as of December 31:", + "||Capital|Operating|Total FuturePayments|\n|2015|$441|96,873|97,314|\n|2016|448|69,875|70,323|\n|2017|323|51,811|52,134|\n|2018|26|32,985|33,011|\n|2019|10|21,164|21,174|\n|Thereafter|\u2014|24,404|24,404|\n|Total payments|1,248|297,112|298,360|\n|Less amount representing interest|103|||\n|Present value of capitalized lease payments|$1,145|||\n", + "Rental expense under operating leases was $114,529, $116,541 and $97,587 in 2014, 2013 and 2012, respectively.", + "The Company had approximately $37,381 and $47,713 in standby letters of credit for various insurance contracts and commitments to foreign vendors as of December 31, 2014 and 2013, respectively that expire within two years.", + "The Company is involved in litigation from time to time in the regular course of its business.", + "Except as noted below, there are no material legal proceedings pending or known by the Company to be contemplated to which the Company is a party or to which any of its property is subject.", + "Beginning in August 2010, a series of civil lawsuits were initiated in several U. S. federal courts alleging that certain manufacturers of polyurethane foam products and competitors of the Company\u00a1\u00afs carpet underlay division had engaged in price fixing in violation of U. S. anti\u0002trust laws.", + "The Company has been named as a defendant in a number of the individual cases (the first filed on August 26, 2010), as well as in two consolidated amended class action complaints the first filed on February 28, 2011, on behalf of a class of all direct purchasers of polyurethane foam products, and the second filed on March 21, 2011, on behalf of a class of indirect purchasers.", + "All pending cases in which the Company has been named as a defendant have been filed in or transferred to the U. S. District Court for the Northern District of Ohio for consolidated pre-trial proceedings under the name In re: Polyurethane Foam Antitrust Litigation, Case No.1:10-MDL-02196.", + "In these actions, the plaintiffs, on behalf of themselves and/or a class of purchasers, seek damages allegedly suffered as a result of alleged overcharges in the price of polyurethane foam products from at least 1999 to the present.", + "The direct purchaser class currently claims damages from all of the defendants named in the lawsuit of up to approximately $867,400 which amount will be reduced by the value of claims made by plaintiffs that opt out of the class.", + "Any damages actually awarded at trial are subject to being tripled under US antitrust laws.", + "The amount of damages in the remaining cases varies or has not yet been specified by the plaintiffs.", + "Each plaintiff also seeks attorney fees, pre-judgment and post-judgment interest, court costs and injunctive relief against future violations.", + "Item 1B.", + "Unresolved Staff Comments.", + "None.", + "Item 2.", + "Properties.3M\u2019s general offices, corporate research laboratories, and certain division laboratories are located in St. Paul, Minnesota.", + "In the United States, 3M has nine sales offices in eight states and operates 74 manufacturing facilities in 27 states.", + "Internationally, 3M has 148 sales offices.", + "The Company operates 93 manufacturing and converting facilities in 32 countries outside the United States.3M owns substantially all of its physical properties.3M\u2019s physical facilities are highly suitable for the purposes for which they were designed.", + "Because 3M is a global enterprise characterized by substantial intersegment cooperation, properties are often used by multiple business segments.", + "Item 3.", + "Legal Proceedings.", + "Discussion of legal matters is incorporated by reference from Part II, Item 8, Note 13, \u201cCommitments and Contingencies,\u201d of this document, and should be considered an integral part of Part I, Item 3, \u201cLegal Proceedings.", + "\u201d Item 4.", + "Submission of Matters to a Vote of Security Holders.", + "None in the quarter ended December 31, 2007.", + "PART II Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.", + "Equity compensation plans\u2019 information is incorporated by reference from Part III, Item 12, \u201cSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,\u201d of this document, and should be considered an integral part of Item 5.", + "At January 31, 2008, there were approximately 121,302 shareholders of record.3M\u2019s stock is listed on the New York Stock Exchange, Inc. (NYSE), the Chicago Stock Exchange, Inc. , and the SWX Swiss Exchange.", + "Cash dividends declared and paid totaled $.48 per share for each quarter of 2007, and $.46 per share for each quarter of 2006.", + "Stock price comparisons follow:", + "|(Per share amounts)|First Quarter|Second Quarter|Third Quarter|Fourth Quarter|Year|\n|2007 High|$79.88|$89.03|$93.98|$97.00|$97.00|\n|2007 Low|72.90|75.91|83.21|78.98|72.90|\n|2006 High|$79.83|$88.35|$81.60|$81.95|$88.35|\n|2006 Low|70.30|75.76|67.05|73.00|67.05|\n", + "Issuer Purchases of Equity Securities Repurchases of common stock are made to support the Company\u2019s stock-based employee compensation plans and for other corporate purposes.", + "On February 13, 2006, the Board of Directors authorized the purchase of $2.0 billion of the Company\u2019s common stock between February 13, 2006 and February 28, 2007.", + "In August 2006, 3M\u2019s Board of Directors authorized the repurchase of an additional $1.0 billion in share repurchases, raising the total authorization to $3.0 billion for the period from February 13, 2006 to February 28, 2007.", + "In February 2007, 3M\u2019s Board of Directors authorized a two\u0002year share repurchase of up to $7.0 billion for the period from February 12, 2007 to February 28, 2009.", + "he fair value of a financial instrument to changes in interest rates.", + "Convexity measures the rate of change of duration with respect to changes in interest rates.", + "We seek to manage our interest rate exposure by legal entity by matching the relative sensitivity of asset and liability values to interest rate changes, or controlling \u201cduration mismatch\u201d of assets and liabilities.", + "We have target duration mismatch constraints for each entity.", + "In certain markets, primarily outside the U. S. , capital market limitations that hinder our ability to closely approximate the duration of some of our liabilities are considered in setting the constraint limits.", + "As of December 31, 2007 and 2006, the difference between the pre-tax duration of assets and the target duration of liabilities in our duration managed portfolios was within our constraint limits.", + "We consider risk-based capital implications in our asset/liability management strategies.", + "We also perform portfolio stress testing as part of our U. S. regulatory cash flow testing for major product lines that are subject to risk from changes in interest rates.", + "In this testing, we evaluate the impact of altering our interest-sensitive assumptions under various moderately adverse interest rate environments.", + "These interest-sensitive assumptions relate to the timing and amount of redemptions and prepayments of fixed-income securities and lapses and surrenders of insurance products and the potential impact of any guaranteed minimum interest rates.", + "We evaluate any shortfalls that this cash flow testing reveals to determine if we need to increase statutory reserves or adjust portfolio management strategies.", + "Market Risk Related to Interest Rates Our \u201cother than trading\u201d assets that subject us to interest rate risk include primarily fixed maturity securities, commercial loans and policy loans.", + "In the aggregate, the carrying value of these assets represented 76% of our consolidated assets, other than assets that we held in separate accounts, as of December 31, 2007 and 77% as of December 31, 2006.", + "With respect to \u201cother than trading\u201d liabilities, we are exposed to interest rate risk through policyholder account balances relating to interest-sensitive life insurance, annuity and other investment-type contracts, collectively referred to as investment contracts, and through outstanding short-term and long-term debt.", + "We assess interest rate sensitivity for \u201cother than trading\u201d financial assets, financial liabilities and derivatives using hypothetical test scenarios that assume either upward or downward 100 basis point parallel shifts in the yield curve from prevailing interest rates.", + "The following tables set forth the net estimated potential loss in fair value from a hypothetical 100 basis point upward shift as of December 31, 2007 and 2006, because this scenario results in the greatest net exposure to interest rate risk of the hypothetical scenarios tested at those dates.", + "While the test scenario is for illustrative purposes only and does not reflect our expectations regarding future interest rates or the performance of fixed-income markets, it is a near-term, reasonably possible hypothetical change that illustrates the potential impact of such events.", + "These test scenarios do not measure the changes in value that could result from non-parallel shifts in the yield curve, which we would expect to produce different changes in discount rates for different maturities.", + "As a result, the actual loss in fair value from a 100 basis point change in interest rates could be different from that indicated by these calculations.", + "||As of December 31, 2007|\n|| Notional Amount of Derivatives|Fair Value|Hypothetical Fair Value After + 100 Basis Point Parallel Yield Curve Shift|Hypothetical Change in Fair Value|\n||(in millions)|\n|Financial assets with interest rate risk:|||||\n|Fixed maturities||$179,940|$169,374|$-10,566|\n|Commercial loans||28,323|27,123|-1,200|\n|Mortgage bank-loan inventory-1||2,298|2,248|-50|\n|Policy loans||10,751|10,055|-696|\n|Derivatives:|||||\n|Swaps|$59,266|-525|-944|-419|\n|Futures|4,812|-7|19|26|\n|Options|4,759|627|557|-70|\n|Forwards|8,851|72|71|-1|\n|Variable Annuity Living Benefit Feature Embedded Derivatives||-168|17|185|\n|Financial liabilities with interest rate risk:|||||\n|Short-term and long-term debt||-29,737|-28,597|1,140|\n|Investment contracts||-66,574|-65,330|1,244|\n|Bank customer liabilities||-1,334|-1,329|5|\n|Net estimated potential loss||||$-10,402|\n", + "respect to foreign exchange) and the acquired Currenex business (with respect to brokerage and other) for a full year.", + "Brokerage and other trading revenue increased 10% from 2007 to 2008, due to higher revenues from electronic trading, both from the acquired Currenex business and from our Global Link product, as well as an increase in brokerage revenue, principally transition management and equity trading.", + "Securities finance revenue for 2008 was up 81% compared to 2007, primarily as a result of wider credit spreads across all lending programs.", + "Spreads benefited from the Federal Reserve\u2019s aggregate 400-basis-point reduction in the federal funds rate during 2008, as well as from the continued disruption of the global fixed\u0002income securities markets.", + "The increases were offset partially by a decline in lending volumes.", + "The 11% increase in servicing fees was the result of the inclusion of servicing fee revenue from the acquired Investor Financial business for a full year, the impact of new business on 2008 revenue and higher transaction volumes.", + "Approximately 41% of our servicing fees were derived from non-U.", + "S. customers in each of 2008 and 2007.", + "Management fees decreased 10% from 2007 to 2008, $1.14 billion to $1.03 billion respectively, primarily from the impact of declines in average month-end equity market valuations and performance fees.", + "Approximately 40% of our management fees were derived from customers outside the U. S. in 2008, down from 41% for 2007.", + "Assets under management decreased to $1.44 trillion at December 31, 2008, down $535 billion from $1.98 trillion a year earlier, as we experienced a net loss of business and, more significantly, market depreciation.", + "The increase in net interest revenue was the result of several favorable trends.", + "Interest-earning assets and related net interest revenue from the acquired Investors Financial business and widening spreads on fixed-rate and tax-exempt investment securities were the primary reasons for the growth.", + "In addition, transaction deposit volume increased, particularly with respect to non-U.", + "S. deposits.", + "EXPENSES" + ], + "question_id": "simplong-test-341", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Fixed maturities in Carrying Value in table 0 in the year with the most Equity securities in Carrying Value in table 0?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Notes to Consolidated Financial Statements Continued 13.", + "Fair Value of Financial Instruments Continued The carrying values and fair values of AIG\u2019s financial instruments at December 31, 2006 and 2005 were as follows:", + "|| 2006|2005|\n|(in millions)|Carrying Value(a)|Fair Value|Carrying Value(a)|Fair Value|\n|Assets:|||||\n|Fixed maturities|$417,865|$418,582|$385,680|$386,199|\n|Equity securities|30,222|30,222|23,588|23,588|\n|Mortgage loans on real estate, policy and collateral loans|28,418|28,655|24,909|26,352|\n|Securities available for sale|47,205|47,205|37,511|37,511|\n|Trading securities|5,031|5,031|6,499|6,499|\n|Spot commodities|220|220|92|96|\n|Unrealized gain on swaps, options and forward transactions|19,252|19,252|18,695|18,695|\n|Trading assets|2,468|2,468|1,204|1,204|\n|Securities purchased under agreements to resell|33,702|33,702|14,547|14,547|\n|Finance receivables, net of allowance|29,573|26,712|27,995|27,528|\n|Securities lending collateral|69,306|69,306|59,471|59,471|\n|Other invested assets(b)|40,330|40,637|29,186|29,408|\n|Short-term investments|25,249|25,249|15,342|15,342|\n|Cash|1,590|1,590|1,897|1,897|\n|Liabilities:|||||\n|Policyholders\u2019 contract deposits|244,658|239,964|227,027|223,244|\n|Borrowings under obligations of guaranteed investment agreements|20,664|20,684|20,811|22,373|\n|Securities sold under agreements to repurchase|22,710|22,710|11,047|11,047|\n|Trading liabilities|3,141|3,141|2,546|2,546|\n|Hybrid financial instrument liabilities|8,856|8,856|\u2014|\u2014|\n|Securities and spot commodities sold but not yet purchased|4,076|4,076|5,975|5,975|\n|Unrealized loss on swaps, options and forward transactions|11,401|11,401|12,740|12,740|\n|Trust deposits and deposits due to banks and other depositors|5,249|5,261|4,877|5,032|\n|Commercial paper|13,029|13,029|9,208|9,208|\n|Notes, bonds, loans and mortgages payable|104,690|106,494|78,439|79,518|\n|Securities lending payable|70,198|70,198|60,409|60,409|\n", + "(a) The carrying value of all other financial instruments approximates fair value.", + "(b) Excludes aircraft asset investments held by non-Financial Services subsidiaries.14.", + "Stock Compensation Plans At December 31, 2006, AIG employees could be awarded compensation pursuant to six different stock-based compensation plan arrangements: (i) AIG 1999 Stock Option Plan, as amended (1999 Plan); (ii) AIG 1996 Employee Stock Purchase Plan, as amended (1996 Plan); (iii) AIG 2002 Stock Incentive Plan, as amended (2002 Plan) under which AIG has issued time-vested restricted stock units (RSUs) and performance restricted stock units (performance RSUs); (iv) SICO\u2019s Deferred Compensation Pro?t Participation Plans (SICO Plans); (v) AIG\u2019s 2005-2006 Deferred Compensation Pro?t Participation Plan (AIG DCPPP) and (vi) the AIG Partners Plan.", + "The AIG DCPPP was adopted as a replacement for the SICO Plans for the 2005-2006 period, and the AIG Partners Plan replaces the AIG DCPPP.", + "Stock-based compensation earned under the AIG DCPPP and the AIG Partners Plan is issued as awards under the 2002 Plan.", + "AIG currently settles share option exercises and other share awards to participants through the issuance of shares it has previously acquired and holds in its treasury account, except for share awards made by SICO, which are settled by SICO.", + "At December 31, 2006, AIG\u2019s non-employee directors received stock-based compensation in two forms, options granted pursuant to the 1999 Plan and grants of AIG common stock with delivery deferred until retirement from the Board, pursuant to the AIG Director Stock Plan, which was approved by the shareholders at the 2004 Annual Meeting of Shareholders.", + "From January 1, 2003 through December 31, 2005, AIG accounted for share-based payment transactions with employees under FAS No.123, \u2018\u2018Accounting for Stock-Based Compensation.", + "\u2019\u2019Share-based employee compensation expense from option awards was not recognized in the statement of income in prior periods.", + "Effective January 1, 2006, AIG adopted the fair value recognition provisions of FAS 123R.", + "FAS 123R requires that companies use a fair value method to value share-based payments and recognize the related compensation expense in net earnings.", + "AIG adopted FAS 123R using the modi?ed prospective application method, and accordingly, ?nancial statement amounts for the prior periods presented have not been restated to re?ect the fair value method of expensing share-based compensation under FAS 123R.", + "The modi?ed prospective application method provides for the recogni- tion of the fair value with respect to share-based compensation", + "American International Group, Inc. , and Subsidiaries Notes to Consolidated Financial Statements \u2014 (Continued) AIG maintains a shelf registration statement in Japan, providing for the issuance of up to Japanese Yen 300 billion principal amount of senior notes, of which the equivalent of $562 million was outstanding at December 31, 2008.", + "(iii) Junior subordinated debt: During 2007 and 2008, AIG issued an aggregate of $12.5 billion of junior subordinated debentures denominated in U. S. dollars, British Pounds and Euros in eight series of securities.", + "In connection with each series of junior subordinated debentures, AIG entered into a Replacement Capital Covenant (RCC) for the benefit of the holders of AIG\u2019s 6.25 percent senior notes due 2036.", + "The RCCs provide that AIG will not repay, redeem, or purchase the applicable series of junior subordinated debentures on or before a specified date, unless AIG has received qualifying proceeds from the sale of replacement capital securities.", + "In May 2008, AIG raised a total of approximately $20 billion through the sale of (i) 196,710,525 shares of AIG common stock in a public offering at a price per share of $38; (ii) 78.4 million Equity Units in a public offering at a price per unit of $75; and (iii) $6.9 billion in unregistered offerings of junior subordinated debentures in three series.", + "The Equity Units and junior subordinated debentures receive hybrid equity treatment from the major rating agencies under their current policies but are recorded as long-term debt on the consolidated balance sheet.", + "The Equity Units consist of an ownership interest in AIG junior subordinated debentures and a stock purchase contract obligating the holder of an equity unit to purchase, and obligating AIG to sell, a variable number of shares of AIG common stock on three dates in 2011 (a minimum of 128,944,480 shares and a maximum of 154,738,080 shares, subject to anti\u0002dilution adjustments).", + "AIGFP Borrowings under obligations of guaranteed investment agreements: Borrowings under obligations of GIAs, which are guaranteed by AIG, are recorded at fair value.", + "Obligations may be called at various times prior to maturity at the option of the counterparty.", + "Interest rates on these borrowings are primarily fixed, vary by maturity, and range up to 9.8 percent.", + "At December 31, 2008, the fair value of securities pledged as collateral with respect to these obligations approximated $8.4 billion.", + "AIGFP\u2019s debt, excluding GIAs, outstanding are as follows:", + "| At December 31, 2008|| Range of | U.S. Dollar Carrying Value (Dollars in millions)|\n| Range of Maturities| Currency| Interest Rates|\n|2009-2035|U.S. dollar|0.01-8.25%|$4,167|\n|2009-2047|Euro|1.59-7.65|2,866|\n|2009-2023|Japanese yen|0.01-2.50|2,205|\n|2009-2015|Swiss franc|0.25-2.79|112|\n|2009-2015|Australian dollar|0.01-2.65|107|\n|2009-2012|Other|0.01-7.73|81|\n|Total|||$9,538|\n", + "AIGFP economically hedges its notes and bonds.", + "AIG guarantees all of AIGFP\u2019s debt.", + "Hybrid financial instrument liabilities: AIGFP\u2019s notes and bonds include structured debt instruments whose payment terms are linked to one or more financial or other indices (such as an equity index or commodity index or another measure that is not considered to be clearly and closely related to the debt instrument).", + "These notes contain embedded derivatives that otherwise would be required to be accounted for separately under FAS 133.", + "Upon AIG\u2019s early adoption of FAS 155, AIGFP elected the fair value option for these notes.", + "The notes that are accounted for using the fair value option are reported separately under hybrid financial instrument liabilities at fair value.", + "ITEM 7 / RESULTS OF OPERATIONS / CONSUMER INSURANCE Total net flows for Retirement decreased in 2014 compared to 2013, as higher surrenders and withdrawals in 2014, primarily in the Group Retirement and Retail Mutual Fund product lines, resulted in a significant decrease in net flows compared to 2013.", + "Net flows for Retirement increased in 2013 compared to 2012, primarily due to the increase in premiums and deposits, partially offset by higher surrenders in Group Retirement and Retail Mutual Funds.", + "See below for additional discussion of each product line.", + "Premiums and Deposits and Net Flows by Product Line A discussion of the significant variances in premiums and deposits and net flows for each product line follows: Fixed Annuities deposits increased in 2014 compared to 2013 due to modest increases in interest rates and steepening of the yield curve in the first half of 2014, compared to lower rates in the prior year, particularly in the first half of 2013.", + "The increase in Fixed Annuities deposits in 2013 compared to 2012 was due to the increase in market interest rates in the second half of 2013.", + "Fixed Annuities net flows continued to be negative, but improved slightly in 2014 compared to 2013, and improved significantly in 2013 compared to 2012, primarily due to the increased deposits.", + "Retirement Income Solutions premiums and deposits and net flows increased significantly in 2014 compared to 2013, and in 2013 compared to 2012, reflecting a continued high volume of variable and index annuity sales, which have benefitted from consumer demand for retirement products with guaranteed benefit features, product enhancements, expanded distribution and a more favorable competitive environment.", + "The improvement in the surrender rate (see Surrender Rates below) was primarily due to the significant growth in account value driven by the high volume of sales, which has increased the proportion of business that is within the surrender charge period.", + "Retail Mutual Fund deposits and net flows decreased in 2014 compared to 2013 and increased in 2013 compared to 2012.", + "These variances were primarily driven by activity in the Focused Dividend Strategy Fund, which had record sales in 2013.", + "In 2014, the relative performance of the fund declined, putting pressure on sales and withdrawal activity.", + "Group Retirement net flows decreased in 2014 compared to 2013, primarily due to higher group surrender activity, as well as lower premiums and deposits.", + "The increase in surrenders and surrender rate for 2014 compared to 2013 included large group surrenders of approximately $2.7 billion, but reserves of this product line grew in 2014 compared to 2013, and the 2014 surrender activity is not expected to have a significant impact on pre-tax operating income in 2015.", + "The large group market has become increasingly competitive and has been impacted by the consolidation of healthcare providers and other employers in our target markets.", + "This trend of heightened competition is expected to continue in 2015 as plan sponsors perform reviews of existing retirement plan relationships.", + "The decrease in Group Retirement net flows in 2013 compared to 2012 was primarily a result of higher surrenders of individual participants as well as large group surrenders.", + "Surrender Rates The following table presents reserves for annuity product lines by surrender charge category:", + "| At December 31,|2014 Group Retirement Products (a)||2013 Group Retirement Products (a)||\n|(in millions)|Fixed Annuities|Retirement Income Solutions|Fixed Annuities|Retirement Income Solutions|\n|No surrender charge(b)|$61,751|$34,396|$1,871|$60,962|$30,906|$2,065|\n|0% - 2%|1,648|2,736|17,070|1,508|2,261|16,839|\n|Greater than 2% - 4%|1,657|2,842|4,254|1,967|4,349|2,734|\n|Greater than 4%|5,793|12,754|26,165|5,719|16,895|19,039|\n|Non-surrenderable|770|3,464|151|315|2,758|67|\n|Total reserves|$71,619|$56,192|$49,511|$70,471|$57,169|$40,744|\n", + "(a) Excludes mutual fund assets under management of $14.6 billion and $15.1 billion at December 31, 2014 and 2013, respectively.", + "(b) Group Retirement Products in this category include reserves of approximately $6.2 billion at both December 31, 2014 and 2013 that are subject to 20 percent annual withdrawal limitations.", + "ITEM 5 | Market for Registrant?s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 AIG | 2017 Form 10-K As of December 31, 2017, approximately $2.3 billion remained under our share repurchase authorization.", + "We did not repurchase any shares of AIG Common Stock from January 1, 2018 to February 8, 2018.", + "Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise (including through the purchase of warrants).", + "Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans.", + "The timing of any future share repurchases will depend on market conditions, our business and strategic plans, financial condition, results of operations, liquidity and other factors.", + "For additional information on our share purchases see Note 17 to the Consolidated Financial Statements.", + "Common Stock Performance Graph The following Performance Graph compares the cumulative total shareholder return on AIG Common Stock for a five-year period (December 31, 2012 to December 31, 2017) with the cumulative total return of the S&P?s 500 stock index (which includes AIG), the S&P Property and Casualty Insurance Index (S&P P&C Index) and the S&P Life and Health Insurance Index (S&P L&H Index).", + "Value of $100 Invested on December 31, 2012 (All $ as of December 31st)" + ], + "question_id": "simplong-test-342", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of Total asset-backed the in the sections where Corporate and other bonds is greater than 100? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements Note 1.", + "Summary of Significant Accounting Policies \u2013 (Continued) CNA applies the same impairment model as described above for the majority of its non-redeemable preferred stock securities on the basis that these securities possess characteristics similar to debt securities and that the issuers maintain their ability to pay dividends.", + "For all other equity securities, in determining whether the security is other\u0002than-temporarily impaired, the Impairment Committee considers a number of factors including, but not limited to: (i) the length of time and the extent to which the fair value has been less than amortized cost, (ii) the financial condition and near term prospects of the issuer, (iii) the intent and ability of CNA to retain its investment for a period of time sufficient to allow for an anticipated recovery in value and (iv) general market conditions and industry or sector specific outlook.", + "Joint venture investments \u2013 The Company has 20% to 50% interests in operating joint ventures related to hotel properties and had joint venture interests in the former Bluegrass Project, as discussed in Note 2, that are accounted for under the equity method.", + "The Company\u2019s investment in these entities was $217 million and $234 million for the years ended December 31, 2016 and 2015 and reported in Other assets on the Company\u2019s Consolidated Balance Sheets.", + "Equity income (loss) for these investments was $41 million, $43 million and $(62) million for the years ended December 31, 2016, 2015 and 2014 and reported in Other operating expenses on the Company\u2019s Consolidated Statements of Income.", + "Some of these investments are variable interest entities (\u201cVIE\u201d) as defined in the accounting guidance because the entities will require additional funding from each equity owner throughout the development and construction phase and are accounted for under the equity method since the Company is not the primary beneficiary.", + "The maximum exposure to loss for the VIE investments is $337 million, consisting of the amount of the investment and debt guarantees.", + "The following tables present summarized financial information for these joint ventures:", + "| Year Ended December 31|| 2016|2015|\n| (In millions)||||\n|Total assets||$1,749|$1,577|\n|Total liabilities||1,444|1,231|\n| Year Ended December 31| 2016|2015|2014|\n|Revenues|$693|$606|$491|\n|Net income|80|71|32|\n", + "Hedging \u2013 The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedging transactions.", + "The Company also formally assesses (both at the hedge\u2019s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods.", + "When it is determined that a derivative for which hedge accounting has been designated is not (or ceases to be) highly effective, the Company discontinues hedge accounting prospectively.", + "See Note 3 for additional information on the Company\u2019s use of derivatives.", + "Securities lending activities \u2013 The Company lends securities for the purpose of enhancing income or to finance positions to unrelated parties who have been designated as primary dealers by the Federal Reserve Bank of New York.", + "Borrowers of these securities must deposit and maintain collateral with the Company of no less than 100% of the fair value of the securities loaned.", + "U. S. Government securities and cash are accepted as collateral.", + "The Company maintains effective control over loaned securities and, therefore, continues to report such securities as investments on the Consolidated Balance Sheets.", + "Securities lending is typically done on a matched-book basis where the collateral is invested to substantially match the term of the loan.", + "This matching of terms tends to limit risk.", + "In accordance with the Company\u2019s lending agreements, securities on loan are returned immediately to the Company upon notice.", + "Collateral is not reflected as an asset of the Company.", + "There was no collateral held at December 31, 2016 and 2015.", + "Notes to Consolidated Financial Statements Note 4.", + "Fair Value \u2013 (Continued) x Level 2 \u2013 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.", + "x Level 3 \u2013 Valuations derived from valuation techniques in which one or more significant inputs are not observable.", + "Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security.", + "In general, the Company seeks to price securities using third party pricing services.", + "Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets.", + "Prices obtained from third-party pricing services or brokers are not adjusted by the Company.", + "The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable.", + "Procedures may include: (i) the review of pricing service methodologies or broker pricing qualifications, (ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, (iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, (iv) detailed analysis, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities and (v) pricing validation, where prices received are compared to prices independently estimated by the Company.", + "The fair values of CNA\u2019s life settlement contracts are included in Other assets on the Consolidated Balance Sheets.", + "Equity options purchased are included in Equity securities, and all other derivative assets are included in Receivables.", + "Derivative liabilities are included in Payable to brokers.", + "Assets and liabilities measured at fair value on a recurring basis are summarized in the tables below:", + "| December 31, 2016|Level 1| Level 2| Level 3| Total|\n| (In millions)|||||\n| Fixed maturity securities:|||||\n| Corporate and other bonds||$18,828|$130|$18,958|\n| States, municipalities and political subdivisions||13,239|1|13,240|\n| Asset-backed:|||||\n| Residential mortgage-backed||4,944|129|5,073|\n| Commercial mortgage-backed||2,027|13|2,040|\n| Other asset-backed||968|57|1,025|\n| Total asset-backed||7,939|199|8,138|\n| U.S. Treasury and obligations of government-sponsored enterprises|$93|||93|\n| Foreign government||445||445|\n| Redeemable preferred stock|19|||19|\n| Fixed maturitiesavailable-for-sale|112|40,451|330|40,893|\n| Fixed maturities trading||595|6|601|\n| Total fixed maturities|$112|$41,046|$336|$41,494|\n| Equity securitiesavailable-for-sale|$91||$19|$110|\n| Equity securities trading|438||1|439|\n| Total equity securities|$529|$-|$20|$549|\n| Short term investments|$3,833|$853||$4,686|\n| Other invested assets|55|5||60|\n| Receivables|1|||1|\n| Life settlement contracts|||$58|58|\n| Payable to brokers|-44|||-44|\n", + "Item 5.", + "Market for the Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The following graph compares annual total return of our Common Stock, the Standard & Poor\u2019s 500 Composite Stock Index (\u201cS&P 500 Index\u201d) and our Peer Group (\u201cLoews Peer Group\u201d) for the five years ended December 31, 2016.", + "The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index and the Loews Peer Group was $100 on December 31, 2011 and that all dividends were reinvested.", + "||2011|2012|2013|2014|2015|2016|\n|Loews Common Stock|100.0|108.91|129.64|113.59|104.47|128.19|\n|S&P 500 Index|100.0|116.00|153.57|174.60|177.01|198.18|\n|Loews Peer Group (a)|100.0|113.39|142.85|150.44|142.44|165.34|\n", + "(a) The Loews Peer Group consists of the following companies that are industry competitors of our principal operating subsidiaries: Chubb Limited (name change from ACE Limited after it acquired The Chubb Corporation on January 15, 2016), W. R. Berkley Corporation, The Chubb Corporation (included through January 15, 2016 when it was acquired by ACE Limited), Energy Transfer Partners L. P. , Ensco plc, The Hartford Financial Services Group, Inc. , Kinder Morgan Energy Partners, L. P. (included through November 26, 2014 when it was acquired by Kinder Morgan Inc. ), Noble Corporation, Spectra Energy Corp, Transocean Ltd. and The Travelers Companies, Inc. Dividend Information We have paid quarterly cash dividends in each year since 1967.", + "Regular dividends of $0.0625 per share of Loews common stock were paid in each calendar quarter of 2016 and 2015." + ], + "question_id": "simplong-test-343", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the 50% of the sum of all Total expenses? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Stock Performance Graph The following graph compares the most recent five-year performance of the Company\u2019s common stock with (1) the Standard & Poor\u2019s (S&P) 500?", + "Index, (2) the S&P 500?", + "Materials Index, a group of 25 companies categorized by Standard & Poor\u2019s as active in the \u201cmaterials\u201d market sector, (3) the S&P Aerospace & Defense Select Industry Index, a group of 33 companies categorized by Standard & Poor\u2019s as active in the \u201caerospace & defense\u201d industry and (4) the S&P 500?", + "Industrials Index, a group of 69 companies categorized by Standard & Poor\u2019s as active in the \u201cindustrials\u201d market sector.", + "The graph assumes, in each case, an initial investment of $100 on December 31, 2013, and the reinvestment of dividends.", + "Historical prices prior to the separation of Alcoa Corporation from the Company on November 1, 2016, have been adjusted to reflect the value of the Separation transaction.", + "The graph, table and related information shall not be deemed to be \u201cfiled\u201d with the SEC, nor shall such information be incorporated by reference into future filings under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.", + "Please note that the Company intends to replace the S&P 500?", + "Materials Index with the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index in subsequent stock performance graphs.", + "We believe that the companies and industries represented in the S&P Aerospace & Defense Select Industry Index and the S&P 500?", + "Industrials Index better reflect the markets in which the Company currently participates.", + "All three indices are represented in the graph below.", + "|As of December 31,|2013|2014|2015|2016|2017|2018|\n|Arconic Inc.|$100|$149.83|$94.62|$80.22|$119.02|$74.47|\n|S&P 500\u00aeIndex|100|113.69|115.26|129.05|157.22|150.33|\n|S&P 500\u00aeMaterials Index|100|106.91|97.95|114.30|141.55|120.74|\n|S&P Aerospace & Defense Select Industry Index|100|111.43|117.49|139.70|197.50|181.56|\n|S&P 500\u00aeIndustrials Index|100|109.83|107.04|127.23|153.99|133.53|\n", + "Copyright?2019 Standard & Poor's, a division of S&P Global.", + "All rights reserved", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Commitments Leases In accordance with industry practice, certain of the Company\u2019s income from lease agreements with retail tenants are contingent upon the level of the tenants\u2019 revenues.", + "Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.", + "Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:", + "|| Rental Income| Sublease Income| Gross Rental Payments|\n|| (In millions)|\n|2010|$415|$15|$287|\n|2011|$357|$17|$237|\n|2012|$288|$16|$190|\n|2013|$253|$15|$169|\n|2014|$221|$9|$119|\n|Thereafter|$723|$44|$994|\n", + "During 2008, the Company moved certain of its operations in New York from Long Island City to New York City.", + "As a result of this movement of operations and current market conditions, which precluded the Company\u2019s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Banking, Corporate & Other.", + "The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.", + "The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.", + "During 2009, pending sublease deals were impacted by the further decline of market conditions, which resulted in an additional lease impairment charge of $52 million.", + "See Note 19 for discussion of $28 million of such charges related to restructuring.", + "Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.", + "Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.", + "The amounts of these unfunded commitments were $4.1 billion and $4.5 billion at December 31, 2009 and 2008, respectively.", + "The Company anticipates that these amounts will be invested in partnerships over the next five years.", + "Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $2.7 billion and $8.0 billion at December 31, 2009 and 2008, respectively.", + "The Company intends to sell the majority of these originated residential mortgage loans.", + "Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards in Note 4.", + "The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.", + "The amounts of these mortgage loan commitments were $2.2 billion and $2.7 billion at December 31, 2009 and 2008, respectively.", + "Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.", + "The amounts of these unfunded commitments were $1.3 billion and $1.0 billion at December 31, 2009 and 2008, respectively.", + "Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.", + "In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.", + "In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.", + "These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.", + "In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.6 billion, while in other cases such limitations are not specified or applicable.", + "Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.", + "Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.", + "In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.", + "Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company\u2019s interests.", + "Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) Options.", + "Additional shares carried forward from the Stock Incentive Plan and available for issuance under the 2005 Stock Plan were 13,018,939 at December 31, 2009.", + "There were no shares carried forward from the 2000 Directors Stock Plan.", + "Each share issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares.", + "The number of shares reserved for issuance under the 2005 Directors Stock Plan are 2,000,000.", + "At December 31, 2009, the aggregate number of shares remaining available for issuance pursuant to the 2005 Stock Plan and the 2005 Directors Stock Plan were 47,903,044 and 1,838,594, respectively.", + "Stock Option exercises and other stock-based awards to employees settled in shares are satisfied through the issuance of shares held in treasury by the Company.", + "Under the current authorized share repurchase program, as described previously, sufficient treasury shares exist to satisfy foreseeable obligations under the Incentive Plans.", + "Compensation expense related to awards under the Incentive Plans is recognized based on the number of awards expected to vest, which represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant.", + "Unless a material deviation from the assumed rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual experience is recognized in the period the award becomes payable or exercisable.", + "Compensation expense of $69 million, $123 million and $146 million, and income tax benefits of $24 million, $43 million and $51 million, related to the Incentive Plans was recognized for the years ended December 31, 2009, 2008 and 2007, respectively.", + "Compensation expense is principally related to the issuance of Stock Options, Performance Shares and Restricted Stock Units.", + "The majority of the awards granted by the Holding Company are made in the first quarter of each year.", + "Stock Options All Stock Options granted had an exercise price equal to the closing price of the Holding Company\u2019s common stock as reported on the New York Stock Exchange on the date of grant, and have a maximum term of ten years.", + "Certain Stock Options granted under the Stock Incentive Plan and the 2005 Stock Plan have or will become exercisable over a three year period commencing with the date of grant, while other Stock Options have or will become exercisable three years after the date of grant.", + "Stock Options issued under the 2000 Directors Stock Plan were exercisable immediately.", + "The date at which a Stock Option issued under the 2005 Directors Stock Plan becomes exercisable would be determined at the time such Stock Option is granted.", + "A summary of the activity related to Stock Options for the year ended December 31, 2009 is presented below.", + "The aggregate intrinsic value was computed using the closing share price on December 31, 2009 of $35.35 and December 31, 2008 of $34.86, as applicable.", + "||Shares Under| Weighted Average | Weighted Average Remaining Contractual Term (Years)| Aggregate Intrinsic Value (In millions)|\n||Option| Exercise Price|\n|Outstanding at January 1, 2009|26,158,275|$41.73|5.73|$\u2014|\n|Granted|5,450,662|$23.61|||\n|Exercised|-254,576|$30.23|||\n|Cancelled/Expired|-794,655|$39.79|||\n|Forfeited|-407,301|$48.72|||\n|Outstanding at December 31, 2009|30,152,405|$38.51|5.50|$\u2014|\n|Aggregate number of stock options expected to vest at December 31, 2009|29,552,636|$38.58|5.43|$\u2014|\n|Exercisable at December 31, 2009|21,651,876|$38.94|4.28|$\u2014|\n", + "The fair value of Stock Options is estimated on the date of grant using a binomial lattice model.", + "Significant assumptions used in the Company\u2019s binomial lattice model, which are further described below, include: expected volatility of the price of the Holding Company\u2019s common stock; risk-free rate of return; expected dividend yield on the Holding Company\u2019s common stock; exercise multiple; and the post\u0002vesting termination rate.", + "Expected volatility is based upon an analysis of historical prices of the Holding Company\u2019s common stock and call options on that common stock traded on the open market.", + "The Company uses a weighted-average of the implied volatility for publicly-traded call options with the longest remaining maturity nearest to the money as of each valuation date and the historical volatility, calculated using monthly closing prices of the Holding Company\u2019s common stock.", + "The Company chose a monthly measurement interval for historical volatility as it believes this better depicts the nature of employee option exercise decisions being based on longer-term trends in the price of the underlying shares rather than on daily price movements.", + "The binomial lattice model used by the Company incorporates different risk-free rates based on the imputed forward rates for U. S. Treasury Strips for each year over the contractual term of the option.", + "The table below presents the full range of rates that were used for options granted during the respective periods.", + "Dividend yield is determined based on historical dividend distributions compared to the price of the underlying common stock as of the valuation date and held constant over the life of the Stock Option.", + "Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses Year Ended December 31, 2009", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home|International|Banking Corporate & Other|Total|\n||||(In millions)||||\n|Total revenues|$23,483|$3,543|$5,669|$3,113|$4,383|$867|$41,058|\n|Less: Net investment gains (losses)|-2,258|-1,606|-2,260|-2|-903|-743|-7,772|\n|Less: Adjustments related to net investment gains (losses)|-27|\u2014|\u2014|\u2014|\u2014|\u2014|-27|\n|Less: Other adjustments to revenues|-74|-217|187|\u2014|-169|22|-251|\n|Total operating revenues|$25,842|$5,366|$7,742|$3,115|$5,455|$1,588|$49,108|\n|Total expenses|$24,165|$4,108|$6,982|$2,697|$4,868|$2,571|$45,391|\n|Less: Adjustments related to net investment gains (losses)|39|-739|\u2014|\u2014|\u2014|\u2014|-700|\n|Less: Other adjustments to expenses|-1|\u2014|64|\u2014|37|38|138|\n|Total operating expenses|$24,127|$4,847|$6,918|$2,697|$4,831|$2,533|$45,953|\n", + "Year Ended December 31, 2008", + "||Insurance Products|Retirement Products|Corporate Benefit Funding|Auto & Home| International|Banking Corporate & Other|Total|\n||(In millions)|\n|Total revenues|$26,754|$5,630|$7,559|$3,061|$6,001|$1,979|$50,984|\n|Less: Net investment gains (losses)|1,558|901|-1,629|-134|169|947|1,812|\n|Less: Adjustments related to net investment gains (losses)|18|\u2014|\u2014|\u2014|\u2014|\u2014|18|\n|Less: Other adjustments to revenues|-1|-35|45|\u2014|69|13|91|\n|Total operating revenues|$25,179|$4,764|$9,143|$3,195|$5,763|$1,019|$49,063|\n|Total expenses|$23,418|$5,049|$7,735|$2,728|$5,044|$1,949|$45,923|\n|Less: Adjustments related to net investment gains (losses)|262|577|\u2014|\u2014|\u2014|\u2014|839|\n|Less: Other adjustments to expenses|-52|\u2014|-29|\u2014|17|-4|-68|\n|Total operating expenses|$23,208|$4,472|$7,764|$2,728|$5,027|$1,953|$45,152|\n", + "Less: Adjustments related to net investment gains", + "The volatile market conditions that began in 2008 and continued into 2009 impacted several key components of our operating earnings available to common shareholders including net investment income, hedging costs, and certain market sensitive expenses.", + "The markets also positively impacted our operating earnings available to common shareholders as conditions began to improve during 2009, resulting in lower DAC and DSI amortization.", + "A $722 million decline in net investment income was the result of decreasing yields, including the effects of our higher quality, more liquid, but lower yielding investment position in response to the extraordinary market conditions.", + "The impact of declining yields caused a $1.6 billion decrease in net investment income, which was partially offset by an increase of $846 million due to growth in average invested assets calculated excluding unrealized gains and losses.", + "The decrease in yields resulted from the disruption and dislocation in the global financial markets experienced in 2008, which continued, but moderated, in 2009.", + "The adverse yield impact was concentrated in the following four invested asset classes: ?", + "Fixed maturity securities \u2014 primarily due to lower yields on floating rate securities from declines in short-term interest rates and an increased allocation to lower yielding, higher quality, U. S. Treasury, agency and government guaranteed securities, to increase liquidity in response to the extraordinary market conditions, as well as decreased income on our securities lending program, primarily due to the smaller size of the program in the current year.", + "These adverse impacts were offset slightly as conditions improved late in 2009 and we began to reallocate our portfolio to higher-yielding assets; ?", + "Real estate joint ventures \u2014 primarily due to declining property valuations on certain investment funds that carry their real estate at estimated fair value and operating losses incurred on properties that were developed for sale by development joint ventures; ?", + "Cash, cash equivalents and short-term investments \u2014 primarily due to declines in short-term interest rates; and ?", + "Mortgage loans \u2014 primarily due to lower prepayments on commercial mortgage loans and lower yields on variable rate loans reflecting declines in short-term interest rates.", + "Equity markets experienced some recovery in 2009, which led to improved yields on other limited partnership interests.", + "As many of our products are interest spread-based, the lower net investment income was significantly offset by lower interest credited expense on our investment and insurance products.", + "The financial market conditions also resulted in a $348 million increase in net guaranteed annuity benefit costs in our Retirement Products segment, as increased hedging losses were only partially offset by lower guaranteed benefit costs.", + "The key driver of the increase in other expenses stemmed from the impact of market conditions on certain expenses, primarily pension and postretirement benefit costs, reinsurance expenses and letter of credit fees.", + "These increases coupled with higher variable costs, such as" + ], + "question_id": "simplong-test-344", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Premiums, what is the growth rate of Interest credited to bank deposits?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 31 The Vermont Yankee acquisition included a 10-year PPA under which the former owners will buy the power produced by the plant, which is through the expiration in 2012 of the current operating license for the plant.", + "The PPA includes an adjustment clause under which the prices specified in the PPA will be adjusted downward monthly, beginning in November 2005, if power market prices drop below PPA prices.", + "Accordingly, because the price is not fixed, the table above does not report power from that plant as sold forward after November 2005.", + "A sale of power on a unit contingent basis coupled with an availability guarantee provides for the payment to the power purchaser of contract damages, if incurred, in the event the seller fails to deliver power as a result of the failure of the specified generation unit to generate power at or above a specified availability threshold.", + "To date, Entergy has not incurred any payment obligation to any power purchaser pursuant to an availability guarantee.", + "All of Entergy's outstanding availability guarantees provide for dollar limits on Entergy's maximum liability under such guarantees.", + "Some of the agreements to sell the power produced by Entergy's Non-Utility Nuclear power plants contain provisions that require an Entergy subsidiary to provide collateral to secure its obligations under the agreements.", + "The Entergy subsidiary may be required to provide collateral based upon the difference between the current market and contracted power prices in the regions where the Non-Utility Nuclear business sells its power.", + "The primary form of the collateral to satisfy these requirements would be an Entergy Corporation guaranty.", + "Cash and letters of credit are also acceptable forms of collateral.", + "At December 31, 2004, based on power prices at that time, Entergy had in place as collateral $545.5 million of Entergy Corporation guarantees and $47.5 million of letters of credit.", + "In the event of a decrease in Entergy Corporation's credit rating to specified levels below investment grade, Entergy may be required to replace Entergy Corporation guarantees with cash or letters of credit under some of the agreements.", + "In addition to selling the power produced by its plants, the Non-Utility Nuclear business sells installed capacity to load-serving distribution companies in order for those companies to meet requirements placed on them by the ISO in their area.", + "Following is a summary of the amount of the Non-Utility Nuclear business' installed capacity that is currently sold forward, and the blended amount of the Non-Utility Nuclear business' planned generation output and installed capacity that is currently sold forwar", + "|| 2005| 2006| 2007| 2008| 2009|\n| Non-Utility Nuclear:||||||\n|Percent of capacity sold forward:||||||\n|Bundled capacity and energy contracts|13%|13%|13%|13%|13%|\n|Capacity contracts|58%|67%|36%|22%|10%|\n|Total|71%|80%|49%|35%|23%|\n|Planned net MW in operation|4,155|4,200|4,200|4,200|4,200|\n|Average capacity contract price per kW per month|$1.2|$1.1|$1.1|$1.0|$0.9|\n|Blended Capacity and Energy (based on revenues)||||||\n|% of planned generation and capacity sold forward|93%|87%|65%|36%|12%|\n|Average contract revenue per MWh|$40|$42|$43|$44|$43|\n", + "As of December 31, 2004, approximately 99% of Entergy's counterparties to Non-Utility Nuclear's energy and capacity contracts have investment grade credit rating", + "Entergy Corporation and Subsidiaries Notes to Financial Statements Fuel and purchased power cost recovery Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues.", + "The difference between revenues collected and the current fuel and purchased power costs is generally recorded as \u201cDeferred fuel costs\u201d on the Utility operating companies\u2019 financial statements.", + "The table below shows the amount of deferred fuel costs as of December 31, 2013 and 2012 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review.", + "||2013|2012|\n||(In Millions)|\n|Entergy Arkansas|$68.7|$97.3|\n|Entergy Gulf States Louisiana (a)|$109.7|$99.2|\n|Entergy Louisiana (a)|$37.6|$94.6|\n|Entergy Mississippi|$38.1|$26.5|\n|Entergy New Orleans (a)|-$19.1|$1.9|\n|Entergy Texas|-$4.1|-$93.3|\n", + "(a) 2013 and 2012 include $100.1 million for Entergy Gulf States Louisiana, $68 million for Entergy Louisiana, and $4.1 million for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be over a period greater than twelve months.", + "Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the \u201cSystem Agreement Cost Equalization Proceedings\u201d section below.", + "These costs cause an increase in Entergy Arkansas\u2019s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects them from customers over twelve months.", + "Energy Cost Recovery Rider Entergy Arkansas\u2019s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills.", + "The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year.", + "The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs.", + "In October 2005 the APSC initiated an investigation into Entergy Arkansas's interim energy cost recovery rate.", + "The investigation focused on Entergy Arkansas's 1) gas contracting, portfolio, and hedging practices; 2) wholesale purchases during the period; 3) management of the coal inventory at its coal generation plants; and 4) response to the contractual failure of the railroads to provide coal deliveries.", + "In March 2006 the APSC extended its investigation to cover the costs included in Entergy Arkansas\u2019s March 2006 annual energy cost rate filing, and a hearing was held in the APSC investigation in October 2006.", + "Entergy Corporation and Subsidiaries Notes to Financial Statements As of December?31, 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%) that are recorded as long-term debt, as follows:", + "||Amount (In Thousands)|\n|2018|$17,188|\n|2019|17,188|\n|2020|17,188|\n|2021|17,188|\n|2022|17,188|\n|Years thereafter|240,625|\n|Total|326,565|\n|Less: Amount representing interest|292,209|\n|Present value of net minimum lease payments|$34,356|\n", + "NOTE 11. ?", + "RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS??", + "(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?are non-contributory final average pay plans and provide pension benefits that are based on employees\u2019 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. ?", + "?Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. ?", + "?Use 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. ?", + "?Although 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. ?", + "?The fair value of the trusts\u2019 assets is determined by the trustee and certain investment managers. ?", + "?For each trust, the trustee calculates a daily earnings factor, including realized and", + "MetLife, Inc. Notes to Consolidated Financial Statements \u2014 (Continued) The following is a summary of Stock Option exercise activity for the:", + "|| Years Ended December 31,|\n|| 2007| 2006| 2005|\n|| (In millions)|\n|Total intrinsic value of stock options exercised|$122|$65|$39|\n|Cash received from exercise of stock options|$110|$83|$72|\n|Tax benefit realized from stock options exercised|$43|$23|$13|\n", + "Performance Shares Beginning in 2005, certain members of management were awarded Performance Shares under (and as defined in) the 2005 Stock Plan.", + "Participants are awarded an initial target number of Performance Shares with the final number of Performance Shares payable being determined by the product of the initial target multiplied by a factor of 0.0 to 2.0.", + "The factor applied is based on measurements of the Company\u2019s performance with respect to: (i) the change in annual net operating earnings per share, as defined; and (ii) the proportionate total shareholder return, as defined, with reference to the three-year performance period relative to other companies in the S&P Insurance Index with reference to the same three-year period.", + "Performance Share awards will normally vest in their entirety at the end of the three\u0002year performance period (subject to certain contingencies) and will be payable entirely in shares of the Company\u2019s common stock.", + "The following is a summary of Performance Share activity for the year ended December 31, 2007:", + "|| Performance Shares| Weighted Average Grant Date Fair Value|\n|Outstanding at January 1, 2007|1,849,575|$42.24|\n|Granted|916,075|$60.86|\n|Forfeited|-75,525|$49.20|\n|Outstanding at December 31, 2007|2,690,125|$48.39|\n|Performance Shares expected to vest at December 31, 2007|2,641,669|$48.20|\n", + "Performance Share amounts above represent aggregate initial target awards and do not reflect potential increases or decreases resulting from the final performance factor to be determined at the end of the respective performance period.", + "As of December 31, 2007, the three year performance period for the 2005 Performance Share grants was completed.", + "Included in the immediately preceding table are 965,525 outstanding Performance Shares to which the final performance factor will be applied.", + "The calculation of the performance factor is expected to be finalized during the second quarter of 2008 after all data necessary to perform the calculation is publicly available.", + "Performance Share awards are accounted for as equity awards but are not credited with dividend-equivalents for actual dividends paid on the Holding Company\u2019s common stock during the performance period.", + "Accordingly, the fair value of Performance Shares is based upon the closing price of the Holding Company\u2019s common stock on the date of grant, reduced by the present value of estimated dividends to be paid on that stock during the performance period.", + "Compensation expense related to initial Performance Shares granted prior to January 1, 2006 and expected to vest is recognized ratably during the performance period.", + "Compensation expense related to initial Performance Shares granted on or after January 1, 2006 and expected to vest is recognized ratably over the performance period or the period to retirement eligibility, if shorter.", + "Performance Shares expected to vest and the related compensation expenses may be further adjusted by the performance factor most likely to be achieved, as estimated by management, at the end of the performance period.", + "Compensation expense of $90 million, $74 million and $24 million, related to Performance Shares was recognized for the years ended December 31, 2007, 2006 and 2005, respectively.", + "As of December 31, 2007, there were $57 million of total unrecognized compensation costs related to Performance Share awards.", + "It is expected that these costs will be recognized over a weighted average period of 1.72 years.", + "Long-Term Performance Compensation Plan Prior to January 1, 2005, the Company granted stock-based compensation to certain members of management under the LTPCP.", + "Each participant was assigned a target compensation amount (an \u201cOpportunity Award\u201d) at the inception of the performance period with the final compensation amount determined based on the total shareholder return on the Company\u2019s common stock over the three-year perfor\u0002mance period, subject to limited further adjustment approved by the Company\u2019s Board of Directors.", + "Payments on the Opportunity Awards were normally payable in their entirety (subject to certain contingencies) at the end of the three-year performance period, and were paid in whole or in part with shares of the Company\u2019s common stock, as approved by the Company\u2019s Board of Directors.", + "There were no new grants under the LTPCP during the years ended December 31, 2007, 2006 and 2005.", + "A portion of each Opportunity Award under the LTPCP was settled in shares of the Holding Company\u2019s common stock while the remainder was settled in cash.", + "The portion of the Opportunity Award settled in shares of the Holding Company\u2019s common stock was accounted for as an equity award with the fair value of the award determined based upon the closing price of the Holding Company\u2019s common stock on the date of grant.", + "The compensation expense associated with the equity award, based upon the grant date fair value, was recognized into expense ratably over the respective three-year performance period.", + "The portion of the Opportunity Award settled in cash was accounted for as a liability and was remeasured using the closing price of the Holding Company\u2019s common stock on the final day of each subsequent reporting period during the three-year performance period.", + "The final LTPCP performance period concluded during the six months ended June 30, 2007.", + "Final Opportunity Awards in the amount of 618,375 shares of the Company\u2019s common stock and $16 million in cash were paid on April 18, 2007.", + "No significant compensation", + "expected policy assessments based on the level of guaranteed minimum benefits generated using multiple scenarios of separate account returns.", + "The scenarios use best estimate assumptions consistent with those used to amortize DAC.", + "Because separate account balances have had positive returns relative to the prior year, current estimates of future benefits are lower than that previously projected which resulted in a decrease in this liability in the current period.", + "Partially offsetting these increases, higher DAC amortization of $49 million resulted from business growth and favorable investment results.", + "Latin America Region.", + "The decrease in operating earnings was primarily driven by lower net investment income.", + "Net investment income decreased by $297 million due to a decrease of $383 million from lower yields, partially offset by an increase of $86 million due to an increase in average invested assets.", + "The decrease in yields was due, in part, to the impact of changes in assumptions for measuring the effects of inflation on certain inflation-indexed fixed maturity securities.", + "This decrease was partially offset by a reduction of $221 million in the related insurance liability primarily due to lower inflation.", + "The increase in net investment income attributable to an increase in average invested assets was primarily due to business growth and, as such, was largely offset by increases in policyholder benefits and interest credited expense.", + "Higher claim experience in Mexico resulted in a $45 million decline in operating earnings.", + "The nationalization and reform of the pension business in Argentina impacted both the current year and prior year earnings, resulting in a net $36 million decline in operating earnings.", + "In addition, operating earnings decreased due to a net income tax increase of $8 million in Mexico, resulting from a change in assumption regarding the repatriation of earnings, partially offset by the favorable impact of a lower effective tax rate in 2009.", + "Partially offsetting these decreases in operating earnings was the combination of growth in Mexico\u2019s individual and institutional businesses and higher premium rates in its institutional business, which increased operating earnings by $51 million.", + "Pesification in Argentina impacted both the current year and prior year earnings, resulting in a net $73 million increase in operating earnings.", + "This benefit was largely due to a reassessment of our approach in managing existing and potential future claims related to certain social security pension annuity contract holders in Argentina resulting in a liability release.", + "Lower expenses of $8 million resulted primarily from the impact of operational efficiencies achieved through our Operational Excellence initiative.", + "EMEI Region.", + "The impact of foreign currency transaction gains and a tax benefit, both of which occurred in the prior year, contributed $12 million to the decline in operating earnings.", + "Our investment of $9 million in our distribution capability and growth initiatives in 2009 also reduced operating earnings.", + "There was an increase in net investment income of $76 million, which was due to an increase of $65 million from an improvement in yields and $11 million from an increase in average invested assets.", + "The increase in yields was primarily due to favorable results on the trading securities portfolio, stemming from the equity markets experiencing some recovery in 2009.", + "As our trading portfolio backs unit-linked policyholder liabilities, the trading portfolio results were entirely offset by a corresponding increase in interest credited expense.", + "The increase in net investment income attributable to an increase in average invested assets was primarily due to business growth and was largely offset by increases in policyholder benefits and interest credited expense, also due to business growth.", + "Banking, Corporate & Other", + "||Years Ended December 31,|||\n||2009|2008|Change|% Change|\n||(In millions)||\n| Operating Revenues|||||\n|Premiums|$19|$27|$-8|-29.6%|\n|Net investment income|477|808|-331|-41.0%|\n|Other revenues|1,092|184|908|493.5%|\n|Total operating revenues|1,588|1,019|569|55.8%|\n| Operating Expenses|||||\n|Policyholder benefits and claims and policyholder dividends|4|46|-42|-91.3%|\n|Interest credited to policyholder account balances|\u2014|7|-7|-100.0%|\n|Interest credited to bank deposits|163|166|-3|-1.8%|\n|Capitalization of DAC|\u2014|-3|3|-100.0%|\n|Amortization of DAC and VOBA|3|5|-2|-40.0%|\n|Interest expense|1,027|1,033|-6|-0.6%|\n|Other expenses|1,336|699|637|91.1%|\n|Total operating expenses|2,533|1,953|580|29.7%|\n|Provision for income tax expense (benefit)|-617|-495|-122|-24.6%|\n|Operating earnings|-328|-439|111|25.3%|\n|Preferred stock dividends|122|125|-3|-2.4%|\n|Operating earnings available to common shareholders|$-450|$-564|$114|20.2%|\n", + "Banking, Corporate & Other recognized the full year impact of our forward and reverse residential mortgage platform acquisitions, a strong residential mortgage refinance market, healthy growth in the reverse mortgage arena, and a favorable interest spread environment.", + "Our forward and reverse residential mortgage production of $37.4 billion in 2009 is up 484% compared to 2008 production.", + "The increase in mortgage production drove higher investments in residential mortgage loans held-for-sale and mortgage servicing rights.", + "At December 31, 2009, our residential mortgage loans servicing portfolio was $64.1 billion comprised of agency (Federal National Mortgage Association (\u201cFNMA\u201d), Federal Home Loan Mortgage Corporation (\u201cFHLMC\u201d) or Government National Mortgage Association (\u201cGNMA\u201d) securities) portfolios.", + "Transaction and time deposits, which provide a relatively stable source of funding and liquidity and are used to fund loans and fixed income securities purchases, grew 48% in 2009 to $10.2 billion.", + "Borrowings decreased 10% in 2009 to $2.4 billion.", + "During 2009, we participated in the Federal Reserve Bank of New York Term Auction Facility, which provided short term liquidity with low funding costs.", + "Factory Stores We extend our reach to additional consumer groups through our 259 factory stores worldwide, which are principally located in major outlet centers.", + "During Fiscal 2015, we added 30 new factory stores and closed six factory stores." + ], + "question_id": "simplong-test-345", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average of Net income (loss) for Basic earnings (loss) per share in 2008, 2007, and 2006 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "6.", + "Debt The following is a summary of outstanding debt (in millions):", + "|As of December 31|2015|2014|\n|5.00% Senior Notes due September 2020|599|599|\n|4.75% Senior Notes due 2045|598|\u2014|\n|3.50% Senior Notes due June 2024|597|597|\n|4.60% Senior Notes due June 2044|549|549|\n|2.875% Senior Notes due May 2026 (EUR 500M)|545|605|\n|8.205% Junior Subordinated Notes due January 2027|521|521|\n|3.125% Senior Notes due May 2016|500|500|\n|2.80% Senior Notes due 2021|399|\u2014|\n|4.00% Senior Notes due November 2023|349|349|\n|6.25% Senior Notes due September 2040|298|298|\n|4.76% Senior Notes due March 2018 (CAD 375M)|271|322|\n|4.45% Senior Notes due May 2043|249|248|\n|4.25% Senior Notes due December 2042|196|196|\n|3.50% Senior Notes due September 2015|\u2014|599|\n|Commercial paper|50|168|\n|Other|16|31|\n|Total debt|5,737|5,582|\n|Less short-term and current portion of long-term debt|562|783|\n|Total long-term debt|$5,175|$4,799|\n", + "Revolving Credit Facilities As of December 31, 2015, Aon plc had two committed credit facilities outstanding: its $400 million U. S. credit facility expiring in March 2017 (the \"2017 Facility\") and $900 million multi-currency U. S. credit facility expiring in February 2020 6.", + "Debt The following is a summary of outstanding debt (in millions):", + "Revolving Credit Facilities As of December 31, 2015, Aon plc had two committed credit facilities outstanding: its $400 million U. S. credit facility expiring in March 2017 (the \"2017 Facility\") and $900 million multi-currency U. S. credit facility expiring in February 2020 (the \"2020 Facility\").", + "The 2020 Facility was entered into on February 2, 2015 and replaced the previous \u20ac650 million European credit facility.", + "Effective February 2, 2016, the 2020 Facility terms were extended for 1 year and will expire in February 2021.", + "Each of these facilities included customary representations, warranties and covenants, including financial covenants that require Aon plc to maintain specified ratios of adjusted consolidated EBITDA to consolidated interest expense and consolidated debt to adjusted consolidated EBITDA, in each case, tested quarterly.", + "At December 31, 2015, Aon plc did not have borrowings under either the 2017 Facility or the 2020 Facility, and was in compliance with these financial covenants and all other covenants contained therein during the twelve months ended December 31, 2015.", + "Notes On November 13, 2015, Aon plc issued $400 million of 2.80% Senior Notes due March 2021.", + "We used the proceeds of the issuance for general corporate purposes.", + "On September 30, 2015, $600 million of 3.50% Senior Notes issued by Aon Corporation matured and were repaid.", + "On May 20, 2015, the Aon plc issued $600 million of 4.750% Senior Notes due May 2045.", + "The Company used the proceeds of the issuance for general corporate purposes.", + "On August 12, 2014, Aon plc issued $350 million of 3.50% Senior Notes due June 2024.", + "The 3.50% Notes due 2024 constitute a further issuance of, and were consolidated to form a single series of debt securities with, the $250 million of 3.50% Notes due June 2024 that was issued by Aon plc on May 20, 2014 concurrently with Aon plc's issuance of $550 million of 4.60% Notes due June 2044.", + "Aon plc used the proceeds from these issuances for working capital and general corporate purposes.", + "A summary of our purchases of H&R Block common stock during the fourth quarter of fiscal year 2009 is as follows:", + "||Total Number of Shares Purchased-1|Average Price Paid per Share|Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs-2|Maximum Dollar Value of Shares that May be Purchased Under the Plans or Programs-2|\n|February 1 \u2013 February 28| 5|$20.75|\u2013|$2,000,000|\n|March 1 \u2013 March 31| 5,630|$17.53| 5,630|$1,901,419|\n|April 1 \u2013 April 30| 1|$18.51|\u2013|$1,901,419|\n", + "(1) Of the shares listed above, approximately six thousand shares were purchased in connection with funding employee income tax withholding obligations arising upon the exercise of stock options or the lapse of restrictions on restricted shares.", + "(2) In June 2008, our Board of Directors rescinded the previous authorizations to repurchase shares of our common stock, and approved an authorization to purchase up to $2.0 billion of our common stock through June 2012.", + "PERFORMANCE GRAPH \u2013 The following graph compares the cumulative five-year total return provided shareholders on H&R Block, Inc. \u2019s common stock relative to the cumulative total returns of the S&P 500 index and the S&P Diversified Commercial & Professional Services index.", + "An investment of $100, with reinvestment of all dividends, is assumed to have been made in our common stock and in each of the indexes on April 30, 2004, and its relative performance is tracked through April 30, 2009.", + "||||(in 000s, except per share amounts)|\n|April 30,| 2009|2008|2007|2006|2005|\n|Revenues|$4,083,577|$4,086,630|$3,710,362|$3,286,798|$2,907,125|\n|Net income before discontinued operations and change in accounting principle|513,055|445,947|369,460|310,811|358,327|\n|Net income (loss)|485,673|-308,647|-433,653|490,408|623,910|\n|Basic earnings (loss) per share:||||||\n|Net income before discontinued operations and change in accounting principle|$1.54|$1.37|$1.14|$0.95|$1.08|\n|Net income (loss)|1.46|-0.95|-1.34|1.49|1.88|\n|Diluted earnings (loss) per share:||||||\n|Net income before discontinued operations and change in accounting principle|$1.53|$1.36|$1.13|$0.93|$1.06|\n|Net income (loss)|1.45|-0.94|-1.33|1.47|1.85|\n|Total assets|$5,359,722|$5,623,425|$7,544,050|$5,989,135|$5,538,056|\n|Long-term debt|1,032,122|1,031,784|537,134|417,262|922,933|\n|Dividends per share|$0.59|$0.56|$0.53|$0.49|$0.43|\n", + "ITEM 6.", + "SELECTED FINANCIAL DATA We derived the selected consolidated financial data presented below as of and for each of the five years in the period ended April 30, 2009, from our audited consolidated financial statements.", + "At April 30, 2009, HRBFA and its direct corporate parent are presented as discontinued operations in the consolidated financial statements.", + "All periods presented have been reclassified to reflect our discontinued operations.", + "The data set forth below should be read in conjunction with Item 7 and our consolidated financial statements in Item 8.", + "Pretax income for the year ended April 30, 2009 of $96.1 million compares to $88.8 million in the prior year.", + "Pretax margin for the segment increased from 9.4% in fiscal year 2008, to 10.7% in fiscal year 2009, below our stated goal to achieve a 12.0% pretax margin primarily due to poor results in our capital markets business and lower than expected revenue growth in our core businesses.", + "FISCAL 2008 COMPARED TO FISCAL 2007 \u2013 Business Services\u2019 revenues for fiscal year 2008 increased $9.3 million, or 1.0%, over fiscal year 2007.", + "Tax services revenues increased $33.7 million, or 8.2% and business consulting revenues increased $31.6 million, or 15.4%, over fiscal year 2007.", + "These increases resulted primarily from both an increase in the number of client service professionals as well as an improvement in productivity per professional.", + "Capital markets revenues increased $2.3 million, primarily due to a $12.6 million increase in underwriting revenues due to a 37.4% increase in revenue per transaction.", + "Valuation and seminar revenues declined $10.4 million due to a 70.3% decline in the number of business valuation projects as a result of the wind-down of this service line.", + "Leased employee revenue decreased due to the change in organizational structure with AmexTBS as discussed above, which resulted in a reduction of $58.1 million to fiscal year 2008 revenues, and a similar reduction in compensation and benefits.", + "Total expenses decreased $21.8 million, or 2.5%, for fiscal year 2008 compared to 2007.", + "Compensation and benefits decreased due to the change in organizational structure with AmexTBS as discussed above, which was almost entirely offset by additional compensation resulting from increases in the number of personnel and the average wage per employee.", + "Selling, general and administrative expenses decreased $20.4 million, or 11.2%, primarily due to decreases in external consulting and legal fees.", + "During fiscal year 2007, additional consulting fees were incurred related to our marketing initiatives, and additional legal expenses were incurred related to international acquisitions that were ultimately not completed.", + "Pretax income for the year ended April 30, 2008 of $88.8 million compares to $57.7 million in fiscal year 2007.", + "CONSUMER FINANCIAL SERVICES This segment is engaged in providing retail banking offerings primarily to Tax Services clients through HRB Bank.", + "HRB Bank offers traditional banking services including prepaid debit card accounts, Emerald Advance lines of credit, checking and savings accounts, individual retirement accounts and certificates of deposit.", + "This segment previously included HRBFA, which has been presented as a discontinued operation in the accompanying consolidated financial statements.", + "|Year Ended April 30,|2009|2008|2007|\n|Net interest margin-1|9.06%|5.54%|2.77%|\n|Pretax return on average assets-2|-1.03%|0.80%|2.60%|\n|Total assets (in 000s)|$1,117,000|$1,078,188|$1,501,390|\n|Mortgage loans held for investment:||||\n|Loan loss reserve as a % of mortgage loans|10.23%|4.49%|0.25%|\n|Delinquency rate (30+ days)|20.23%|11.71%|3.86%|\n", + "(1) Defined as net interest income divided by average earning assets.", + "See \u201cReconciliation of Non-GAAP Financial Information\u201d at the end of Item 7.", + "(2) Defined as pretax income divided by average assets.", + "See \u201cReconciliation of Non-GAAP Financial Information\u201d at the end of Item 7.", + "than as operating activities for fiscal years 2009, 2008 and 2007, respectively.", + "We realized tax benefits of $20.2 million, $12.6 million and $13.3 million in fiscal years 2009, 2008 and 2007, respectively.", + "We have four stock-based compensation plans which have been approved by our shareholders.", + "As of April 30, 2009, we had 11.5 million shares reserved for future awards under these plans.", + "We issue shares from our treasury stock to satisfy the exercise or release of stock-based awards.", + "We believe we have adequate treasury stock to issue for the exercise or release of stock-based awards.", + "Our 2003 Long-Term Executive Compensation Plan provides for awards of options (both incentive and nonqualified), nonvested shares, performance nonvested share units and other stock-based awards to employees.", + "These awards entitle the holder to shares or the right to purchase shares of common stock as the award vests, typically over a three-year period with one-third vesting each year.", + "Nonvested shares receive dividends during the vesting period and performance nonvested share units receive cumulative dividends at the end of the vesting period.", + "We measure the fair value of options on the grant date or modification date using the Black-Scholes option valuation model.", + "We measure the fair value of nonvested shares and performance nonvested share units based on the closing price of our common stock on the grant date.", + "Generally, we expense the grant-date fair value, net of estimated forfeitures, over the vesting period on a straight-line basis.", + "Upon adoption of SFAS 123R, awards granted to employees who are of retirement age or reach retirement age at least one year after the grant date, but prior to the end of the service period of the awards, are expensed over the shorter of the two periods.", + "Options are generally granted at a price equal to the fair market value of our common stock on the grant date and have a contractual term of ten years.", + "Our 1999 Stock Option Plan for Seasonal Employees provides for awards of nonqualified options to certain employees.", + "These awards are granted to seasonal employees in our Tax Services segment and entitle the holder to the right to purchase shares of common stock as the award vests, typically over a two-year period.", + "We measure the fair value of options on the grant date using the Black-Scholes option valuation model.", + "We expense the grant-date fair value, net of estimated forfeitures, over the seasonal service period.", + "Options are granted at a price equal to the fair market value of our common stock on the grant date, are exercisable during September through November in each of the two years following the calendar year of the grant, and have a contractual term of 29 months.", + "Our 1989 Stock Option Plan for Outside Directors, which provided for awards of nonqualified options to outside directors, was terminated effective June 11, 2008, except for outstanding awards thereunder.", + "The plan was replaced by the 2008 Deferred Stock Unit Plan for Outside Directors.", + "The number of deferred stock units credited to an outside director\u2019s account pursuant to an award is determined by dividing the dollar amount of the award by the average current market value per share of common stock for the ten consecutive trading dates ending on the date the deferred stock units are granted to the outside directors.", + "Each deferred stock unit granted is vested upon award and the settlement of shares occurs six months after separation of service from the Board of Directors.", + "Our 2000 Employee Stock Purchase Plan (ESPP) provides employees the option to purchase shares of our common stock through payroll deductions.", + "The purchase price of the stock is 90% of the lower of either the fair market value of our common stock on the first trading day within the Option Period or on the last trading day of the Option Period.", + "The Option Periods are six-month periods beginning on January 1 and July 1 each year.", + "We measure the fair value of options on the grant date utilizing the Black-Scholes option valuation model in accordance with FASB Technical Bulletin 97-1, \u201cAccounting under Statement 123 for Certain Employee Stock Purchase Plans with a Look-Back Option.", + "\u201d The fair value of the option includes the value of the 10% discount and the look-back feature.", + "We expense the grant-date fair value over the six-month vesting period.", + "A summary of options for the year ended April 30, 2009, is as follows:" + ], + "question_id": "simplong-test-346", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Net investment income in table 1, what's the sum of revenues in table 1? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CONSUMER INSURANCE Consumer Insurance Results The following table presents Consumer Insurance results:", + "| Years Ended December 31,||||Percentage Change|\n|(in millions)|2015|2014|2013|2015 vs. 2014|2014 vs. 2013|\n|Revenues:||||||\n|Premiums|$14,085|$14,936|$15,302|-6%|-2%|\n|Policy fees|2,557|2,453|2,252|4|9|\n|Net investment income|8,322|9,082|9,352|-8|-3|\n|Other income|2,105|1,998|1,754|5|14|\n|Benefits and expenses:||||||\n|Policyholder benefits and losses incurred|10,475|10,796|10,957|-3|-1|\n|Interest credited to policyholder account balances|3,316|3,353|3,477|-1|-4|\n|Amortization of deferred policy acquisition costs|2,887|2,759|2,836|5|-3|\n|General operating and other expenses*|7,013|7,087|6,826|-1|4|\n|Pre-tax operating income|$3,378|$4,474|$4,564|-24%|-2%|\n", + "* Includes general operating expenses, non deferrable commissions, other acquisition expenses, advisory fee expenses and other expenses.", + "Consumer Insurance Results by Operating Segment Consumer Insurance presents its operating results in three operating segments \u2013 Retirement, Life and Personal Insurance.", + "The following section provides a comparative discussion of Consumer Insurance Results of Operations for 2015, 2014 and 2013 by operating segment.", + "Retirement Results The following table presents Retirement results:", + "| Years Ended December 31,||||Percentage Change|\n|(in millions)|2015|2014|2013|2015 vs. 2014|2014 vs. 2013|\n|Revenues:||||||\n|Premiums|$168|$287|$188|-41%|53%|\n|Policy fees|1,072|1,010|861|6|17|\n|Net investment income|6,002|6,489|6,628|-8|-2|\n|Advisory fee and other income|2,056|1,998|1,754|3|14|\n|Benefits and expenses:||||||\n|Policyholder benefits and losses incurred|511|537|364|-5|48|\n|Interest credited to policyholder account balances|2,823|2,846|2,935|-1|-3|\n|Amortization of deferred policy acquisition costs|480|346|273|39|27|\n|Non deferrable insurance commissions|282|265|249|6|6|\n|Advisory fee expenses|1,349|1,315|1,175|3|12|\n|General operating expenses|1,014|980|945|3|4|\n|Pre-tax operating income|$2,839|$3,495|$3,490|-19%|-%|\n", + "ITEM 7 / RESULTS OF OPERATIONS / CONSUMER INSURANCE * Severe losses are defined as non-catastrophe individual first party losses and surety losses greater than $10 million, net of related reinsurance and salvage and subrogation.2015 and 2014 Comparison The combined ratio increased by 1.4 points in 2015 compared to 2014, reflecting an increase in the loss ratio and acquisition ratio, partially offset by a decrease in the general operating expense ratio.", + "The accident year combined ratio, as adjusted, increased by 0.7 points in 2015 compared to 2014.", + "The accident year loss ratio, as adjusted, increased by 0.2 points in 2015, compared to 2014, due to higher large but not severe losses in automobile and personal property businesses, partially offset by a decrease in losses in warranty service programs and lower severe losses.", + "The loss ratio improvement in warranty service programs was offset by an increase in the acquisition ratio due to a related profit sharing arrangement.", + "The acquisition ratio increased by 1.1 points in 2015 compared to 2014, primarily due to increases in acquisition costs in warranty service programs and in the automobile business, partially offset by lower direct marketing expenses in the Accident and Health business.", + "The general operating expense ratio decreased by 0.6 points in 2015 compared to 2014, reflecting an ongoing focus on cost efficiency.2014 and 2013 Comparison The combined ratio decreased by 1.6 points in 2014 compared to 2013, primarily due to a lower loss ratio, partially offset by a higher acquisition ratio as discussed below.", + "The accident year combined ratio, as adjusted, decreased by 2.6 points in 2014 compared to 2013, primarily due to an improved accident year loss ratio, as adjusted.", + "The accident year loss ratio, as adjusted, decreased by 3.6 points in 2014 compared to 2013, as a result of improvements across all lines of business.", + "The lower losses associated with a warranty retail program were largely offset by an increase in the related profit sharing arrangement, which increased the acquisition ratio in 2014 compared to 2013.", + "The severe losses of $54 million, resulting largely from four fire claims, accounted for 0.5 points of the accident year loss ratio, as adjusted, in 2014.", + "The general operating expense ratio remained unchanged in 2014 compared to 2013, reflecting the impact of efficiencies from organizational realignment initiatives, offset by increased technology-related expenses.", + "CORPORATE AND OTHER Corporate and Other Results The following table presents AIG\u2019s Corporate and Other results:", + "| Years Ended December 31,||||Percentage Change|\n|(in millions)|2015|2014|2013|2015 vs. 2014|2014 vs. 2013|\n|Corporate and Other pre-tax operating loss:||||||\n|Equity in pre-tax operating earnings of AerCap(a)|$255|$434|$-|-41%|NM%|\n|Fair value of PICC investments(b)|33|37|-|-11|NM|\n|Income from other assets, net(c)|1,382|373|47|271|NM|\n|Corporate general operating expenses|-985|-1,146|-1,115|14|-3|\n|Severance expense(d)|-|-|-265|NM|NM|\n|Interest expense|-1,101|-1,233|-1,412|11|13|\n", + "ITEM 8 / NOTE 6.", + "LENDING ACTIVITIES the troubled debtor, the modification is a troubled debt restructuring (TDR).", + "We assess whether a borrower is experiencing financial difficulty based on a variety of factors, including the borrower\u2019s current default on any of its outstanding debt, the probability of a default on any of its debt in the foreseeable future without the modification, the insufficiency of the borrower\u2019s forecasted cash flows to service any of its outstanding debt (including both principal and interest), and the borrower\u2019s inability to access alternative third-party financing at an interest rate that would be reflective of current market conditions for a non\u0002troubled debtor.", + "Concessions granted may include extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants.", + "During 2015 and 2014, loans with a carrying value of $36 million and $218 million were modified in TDRs, respectively.7.", + "REINSURANCE In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses.", + "In addition, our general insurance subsidiaries assume reinsurance from other insurance companies.", + "We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased.", + "This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR.", + "Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid.", + "Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized.", + "We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk.", + "The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment.", + "The allowance for doubtful accounts on reinsurance assets was $272 million and $258 million at December 31, 2015 and 2014, respectively.", + "Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income.", + "The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:", + "| At December 31,|2015 As Reported||2014 As Reported||\n|(in millions)|Net of Reinsurance|Net of Reinsurance|\n|Liability for unpaid losses and loss adjustment expenses(a)|$-74,942|$-60,603|$-77,260|$-61,612|\n|Future policy benefits for life and accident and health insurance contracts|-43,585|-42,506|-42,749|-41,767|\n|Reserve for unearned premiums|-21,318|-18,380|-21,324|-18,278|\n|Reinsurance assets(b)|18,356||19,676||\n", + "(a) In 2015 and 2014, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.8 billion and $1.5 billion, respectively.", + "(b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.", + "Short-Duration Reinsurance Short-duration reinsurance is effected under reinsurance treaties and by negotiation on individual risks.", + "Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts.", + "Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received.", + "Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets.", + "Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the", + "ITEM 8 / NOTE 19.", + "SHARE-BASED AND OTHER COMPENSATION PLANS Our non-employee directors, who serve on our Board of Directors, receive share-based compensation in the form of fully vested deferred stock units (DSUs) with delivery deferred until retirement from the Board.", + "DSUs granted in 2015, 2014 and 2013 accrue DEUs equal to the amount of any regular quarterly dividend that would have been paid by AIG if the shares of AIG Common Stock underlying the DSUs had been outstanding.", + "In 2015, 2014 and 2013, we granted to non-employee directors 32,342, 28,477 and 25,735 DSUs, respectively, under the 2013 Plan, and recognized expense of $1.9 million, $1.5 million and $1.2 million, respectively.", + "Stock Options Options granted under the AIG 2007 Stock Incentive Plan and the 1999 Stock Option Plan generally vested over four years (25 percent vesting per year) and expire 10 years from the date of grant.", + "All outstanding options are vested and out of the money at December 31, 2015.", + "There were no stock options granted since 2008.", + "The aggregate intrinsic value for all unexercised options is zero.", + "The following table provides a roll forward of stock option activity:", + "| As of or for the Year Ended December 31, 2015|Shares|Weighted Average Exercise Price|Weighted Average Remaining Contractual Life|\n| Options:||||\n|Exercisable at beginning of year|202,275|$1,037.74|2.17|\n|Expired|-108,763|$1,261.25||\n|Exercisable at end of year|93,512|$777.78|2.16|\n", + "Cash-settled Awards Share-based cash-settled awards are recorded as liabilities until the final payout is made or the award is replaced with a stock\u0002settled award.", + "Compensation expense is recognized over the vesting periods, unless the award is fully vested on the grant date in which case the entire award value is immediately recognized as expense.", + "Unlike stock-settled awards, which generally have a fixed grant-date fair value (unless the award is subsequently modified), the fair value of unsettled or unvested cash-settled awards is remeasured at the end of each reporting period based on the change in fair value of one share of AIG Common Stock.", + "The liability and corresponding expense are adjusted accordingly until the award is settled.", + "During the period we were subject to Troubled Asset Relief Program (TARP) restrictions, we issued various cash-settled share\u0002based grants, including Stock Salary, TARP RSU awards, and other cash-settled RSU awards, to certain of our most highly compensated employees and executive officers in the form of restricted stock units that were either fully vested with payment deferred, or subject to specified service and performance conditions.", + "After the repayment of our TARP obligations in December 2012, all performance conditions were satisfied; as a result, we no longer issue awards that are subject to TARP restrictions.", + "Restricted Stock Units Stock Salary was earned and accrued at the same time or times as the salary would otherwise be paid in cash and is generally settled in installments on the first, second or third anniversary of grant in accordance with the terms of an employee\u2019s award.", + "Stock Salary grants were generally issued in the form of fully vested RSUs and are settled in cash based on the value of AIG", + "The performance units granted to certain executives in fiscal 2014 were based on a one-year performance period.", + "After the Compensation Committee certified the performance results, 25% of the performance units converted to unrestricted shares.", + "The remaining 75% converted to restricted shares that vest in equal installments on each of the first three anniversaries of the conversion date.", + "The performance units granted to certain executives during fiscal 2015 were based on a three-year performance period.", + "After the Compensation Committee certifies the performance results for the three-year period, performance units earned will convert into unrestricted common stock.", + "The Compensation Committee may set a range of possible performance-based outcomes for performance units.", + "Depending on the achievement of the performance measures, the grantee may earn up to 200% of the target number of shares.", + "For awards with only performance conditions, we recognize compensation expense over the performance period using the grant date fair value of the award, which is based on the number of shares expected to be earned according to the level of achievement of performance goals.", + "If the number of shares expected to be earned were to change at any time during the performance period, we would make a cumulative adjustment to share-based compensation expense based on the revised number of shares expected to be earned.", + "During fiscal 2015, certain executives were granted performance units that we refer to as leveraged performance units, or LPUs.", + "LPUs contain a market condition based on our relative stock price growth over a three-year performance period.", + "The LPUs contain a minimum threshold performance which, if not met, would result in no payout.", + "The LPUs also contain a maximum award opportunity set as a fixed dollar and fixed number of shares.", + "After the three-year performance period, one-third of any earned units converts to unrestricted common stock.", + "The remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date.", + "We recognize share-based compensation expense based on the grant date fair value of the LPUs, as determined by use of a Monte Carlo model, on a straight-line basis over the requisite service period for each separately vesting portion of the LPU award.", + "Total Shareholder Return Units Before fiscal 2015, certain of our executives were granted total shareholder return (\u201cTSR\u201d) units, which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the S&P 500.", + "Once the performance results are certified, TSR units convert into unrestricted common stock.", + "Depending on our performance, the grantee may earn up to 200% of the target number of shares.", + "The target number of TSR units for each executive is set by the Compensation Committee.", + "We recognize share-based compensation expense based on the grant date fair value of the TSR units, as determined by use of a Monte Carlo model, on a straight-line basis over the vesting period.", + "The following table summarizes the changes in unvested share-based awards for the years ended May 31, 2015 and 2014 (shares in thousands):" + ], + "question_id": "simplong-test-347", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Interest cost on benefit obligation in U.S. pension plans be like in 2017 if it develops with the same increasing rate as current? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Liquidity Monitoring and Measurement Stress Testing Liquidity stress testing is performed for each of Citi\u2019s major entities, operating subsidiaries and/or countries.", + "Stress testing and scenario analyses are intended to quantify the potential impact of a liquidity event on the balance sheet and liquidity position, and to identify viable funding alternatives that can be utilized.", + "These scenarios include assumptions about significant changes in key funding sources, market triggers (such as credit ratings), potential uses of funding and political and economic conditions in certain countries.", + "These conditions include expected and stressed market conditions as well as Company\u0002specific events.", + "Liquidity stress tests are conducted to ascertain potential mismatches between liquidity sources and uses over a variety of time horizons (overnight, one week, two weeks, one month, three months, one year) and over a variety of stressed conditions.", + "Liquidity limits are set accordingly.", + "To monitor the liquidity of an entity, these stress tests and potential mismatches are calculated with varying frequencies, with several tests performed daily.", + "Given the range of potential stresses, Citi maintains a series of contingency funding plans on a consolidated basis and for individual entities.", + "These plans specify a wide range of readily available actions for a variety of adverse market conditions or idiosyncratic stresses.", + "Short-Term Liquidity Measurement: Liquidity Coverage Ratio (LCR) In addition to internal measures that Citi has developed for a 30-day stress scenario, Citi also monitors its liquidity by reference to the LCR, as calculated pursuant to the U. S. LCR rules.", + "Generally, the LCR is designed to ensure that banks maintain an adequate level of HQLA to meet liquidity needs under an acute 30-day stress scenario.", + "The LCR is calculated by dividing HQLA by estimated net outflows over a stressed 30-day period, with the net outflows determined by applying prescribed outflow factors to various categories of liabilities, such as deposits, unsecured and secured wholesale borrowings, unused lending commitments and derivatives\u0002related exposures, partially offset by inflows from assets maturing within 30 days.", + "Banks are required to calculate an add-on to address potential maturity mismatches between contractual cash outflows and inflows within the 30-day period in determining the total amount of net outflows.", + "The minimum LCR requirement is 100%, effective January 2017.", + "In December 2016, the Federal Reserve Board adopted final rules which require additional disclosures relating to the LCR of large financial institutions, including Citi.", + "Among other things, the final rules require Citi to disclose components of its average HQLA, LCR and inflows and outflows each quarter.", + "In addition, the final rules require disclosure of Citi\u2019s calculation of the maturity mismatch add-on as well as other qualitative disclosures.", + "The effective date for these disclosures is April 1, 2017.", + "|In billions of dollars|Dec. 31, 2016|Sept. 30, 2016|Dec. 31, 2015|\n|HQLA|$403.7|$403.8|$389.2|\n|Net outflows|332.5|335.3|344.4|\n|LCR|121%|120%|113%|\n|HQLA in excess of net outflows|$71.3|$68.5|$44.8|\n", + "The table below sets forth the components of Citi\u2019s LCR calculation and HQLA in excess of net outflows for the periods indicated: Note: Amounts set forth in the table above are presented on an average basis.", + "As set forth in the table above, Citi\u2019s LCR increased both year-over-year and sequentially.", + "The increase year-over-year was driven by both an increase in HQLA and a reduction in net outflows.", + "Sequentially, the increase was driven by a slight reduction in net outflows, as HQLA remained largely unchanged.", + "Long-Term Liquidity Measurement: Net Stable Funding Ratio (NSFR) In the second quarter of 2016, the Federal Reserve Board, the FDIC and the OCC issued a proposed rule to implement the Basel III NSFR requirement.", + "The U. S. -proposed NSFR is largely consistent with the Basel Committee\u2019s final NSFR rules.", + "In general, the NSFR assesses the availability of a bank\u2019s stable funding against a required level.", + "A bank\u2019s available stable funding would include portions of equity, deposits and long-term debt, while its required stable funding would be based on the liquidity characteristics of its assets, derivatives and commitments.", + "Standardized weightings would be required to be applied to the various asset and liabilities classes.", + "The ratio of available stable funding to required stable funding would be required to be greater than 100%.", + "While Citi believes that it is compliant with the proposed U. S. NSFR rules as of December 31, 2016, it will need to evaluate any final version of the rules, which are expected to be released during 2017.", + "The proposed rules would require full implementation of the U. S. NSFR beginning January 1, 2018.", + "8.", + "RETIREMENT BENEFITS Pension and Postretirement Plans The Company has several non-contributory defined benefit pension plans covering certain U. S. employees and has various defined benefit pension and termination indemnity plans covering employees outside the U. S. The U. S. qualified defined benefit plan was frozen effective January 1, 2008 for most employees.", + "Accordingly, no additional compensation-based contributions have been credited to the cash balance portion of the plan for existing plan participants after 2007.", + "However, certain employees covered under the prior final pay plan formula continue to accrue benefits.", + "The Company also offers postretirement health care and life insurance benefits to certain eligible U. S. retired employees, as well as to certain eligible employees outside the U. S. The Company also sponsors a number of non-contributory, nonqualified pension plans.", + "These plans, which are unfunded, provide supplemental defined pension benefits to certain U. S. employees.", + "With the exception of certain employees covered under the prior final pay plan formula, the benefits under these plans were frozen in prior years.", + "The plan obligations, plan assets and periodic plan expense for the Company\u9225\u6a9a most significant pension and postretirement benefit plans (Significant Plans) are measured and disclosed quarterly, instead of annually.", + "The Significant Plans captured approximately 90% of the Company\u9225\u6a9a global pension and postretirement plan obligations as of December 31, 2016.", + "All other plans (All Other Plans) are measured annually with a December 31 measurement date.", + "Net (Benefit) Expense The following table summarizes the components of net (benefit) expense recognized in the Consolidated Statement of Income for the Company\u9225\u6a9a pension and postretirement plans, for Significant Plans and All Other Plans:", + "||Pension plans|Postretirement benefit plans|\n||U.S. plans|Non-U.S. plans|U.S. plans|Non-U.S. plans|\n|In millions of dollars|2016|2015|2014|2016|2015|2014|2016|2015|2014|2016|2015|2014|\n|Qualified plans|||||||||||||\n|Benefits earned during the year|$3|$4|$6|$154|$168|$178|$\u2014|$\u2014|$\u2014|$10|$12|$15|\n|Interest cost on benefit obligation|520|553|541|282|317|376|25|33|33|94|108|120|\n|Expected return on plan assets|-886|-893|-878|-287|-323|-384|-9|-3|-1|-86|-105|-121|\n|Amortization of unrecognized|||||||||||||\n|Prior service (benefit) cost|\u2014|-3|-3|-1|2|1|\u2014|\u2014|\u2014|-10|-11|-12|\n|Net actuarial loss|160|139|105|69|73|77|-1|\u2014|\u2014|30|43|39|\n|Curtailment loss (gain)(1)|13|14|\u2014|-2|\u2014|14|\u2014|\u2014|\u2014|\u2014|-1|\u2014|\n|Settlement loss (gain)(1)|\u2014|\u2014|\u2014|6|44|53|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Special termination benefits-1|\u2014|\u2014|\u2014|\u2014|\u2014|9|\u2014|\u2014|\u2014|\u2014|\u2014|\u2014|\n|Net qualified plans (benefit) expense|$-190|$-186|$-229|$221|$281|$324|$15|$30|$32|$38|$46|$41|\n|Nonqualified plans expense|$40|$43|$45|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|$\u2014|\n|Total net (benefit) expense|$-150|$-143|$-184|$221|$281|$324|$15|$30|$32|$38|$46|$41|\n", + "(1) Losses and gains due to curtailment, settlement and special termination benefits relate to repositioning and divestiture actions.", + "The estimated net actuarial loss and prior service (benefit) cost that will be amortized from Accumulated other comprehensive income (loss) into net expense in 2017 are approximately $233 million and $(2) million, respectively, for defined benefit pension plans.", + "For postretirement plans, the estimated 2017 net actuarial loss and prior service (benefit) cost amortizations are approximately $28 million and $(9) million, respectively.", + "Results of Operations", + "||2009 (all amounts in millions)|2008|Increase/ (Decrease)|% change|\n|Revenues from rental property -1|$786.9|$758.7|$28.2|3.7%|\n|Rental property expenses: -2|||||\n|Rent|$14.1|$13.4|$0.7|5.2%|\n|Real estate taxes|112.4|98.0|14.4|14.7%|\n|Operating and maintenance|110.1|104.7|5.4|5.2%|\n||$236.6|$216.1|$20.5|9.5%|\n|Depreciation and amortization -3|$227.7|$206.0|$21.7|10.5%|\n", + "(1) Revenues from rental property increased primarily from the combined effect of (i) the acquisition of operating properties during 2008 and 2009, providing incremental revenues for the year ended December 31, 2009 of $29.3 million, as compared to the corresponding period in 2008 and (ii) the completion of certain development and redevelopment projects and tenant buyouts providing incremental revenues of approximately $7.4 million, for the year ended December 31, 2009, as compared to the corresponding period in 2008, which was partially offset by (iii) a decrease in revenues of approximately $8.5 million for the year ended December 31, 2009, as compared to the corresponding period in 2008, primarily resulting from the sale of certain properties during 2008 and 2009, and (iv) an overall occupancy decrease from the consolidated shopping center portfolio from 93.1% at December 31, 2008 to 92.2% at December 31, 2009.", + "(2) Rental property expenses increased primarily due to (i) operating property acquisitions during 2008 and 2009, (ii) the placement of certain development properties into service, which resulted in lower capitalization of carry costs, and (iii) an increase in snow removal costs during 2009 as compared to 2008, partially offset by (iv) a decrease in insurance costs during 2009 as compared to 2008 and (v) operating property dispositions during 2008 and 2009.", + "(3) Depreciation and amortization increased primarily due to (i) operating property acquisitions during 2008 and 2009, (ii) the placement of certain development properties into service and (iii) tenant vacates, partially offset by operating property dispositions during 2008 and 2009.", + "Mortgage and other financing income decreased $3.3 million to $15.0 million for the year ended December 31, 2009, as compared to $18.3 million for the corresponding period in 2008.", + "This decrease is primarily due to a decrease in interest income during 2009 resulting from the repayment of certain mortgage receivables during 2009 and 2008.", + "Management and other fee income decreased approximately $5.2 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to a decrease in property management fees of approximately $5.8 million for 2009, due to lower revenues attributable to lower occupancy and the sale of certain properties during 2008 and 2009, partially offset by an increase in other transaction related fees of approximately $0.6 million recognized during 2009.", + "General and administrative expenses decreased approximately $6.1 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to a reduction in force during 2009 as a result of implementing the Company\u2019s core business strategy of focusing on owning and operating shopping centers and a shift away from certain non-strategic assets along with a lack of transactional activity.", + "Interest, dividends and other investment income decreased approximately $23.0 million for the year ended December 31, 2009, as compared to the corresponding period in 2008.", + "This decrease is primarily due to (i) a decrease in realized gains of approximately $8.2 million during 2009 resulting from the sale of certain marketable securities during the corresponding period in 2008 as compared to 2009, and (ii) a decrease in interest and dividend income of approximately $14.8 million during 2009, as compared to the corresponding period in 2008, primarily resulting from the sale of investments in marketable securities and reductions in dividends declared from certain marketable securities during 2009 and 2008.", + "Other expense, net decreased approximately $1.3 million to $0.9 million for the year ended December 31, 2009, as compared to $2.2 million for the corresponding period in 2008.", + "This decrease is primarily due to (i) the receipt of fewer shares of Sears Holding Corp. common stock received as partial settlement of Kmart pre-petition claims during 2008," + ], + "question_id": "simplong-test-348", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "by what percentage did total residential mortgages increase from 2011 to 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Financial derivatives involve, to varying degrees, interest rate, market and credit risk.", + "For interest rate swaps and total return swaps, options and futures contracts, only periodic cash payments and, with respect to options, premiums are exchanged.", + "Therefore, cash requirements and exposure to credit risk are significantly less than the notional amount on these instruments.", + "Further information on our financial derivatives is presented in Note 1 Accounting Policies and Note 17 Financial Derivatives in the Notes To Consolidated Financial Statements in Item 8 of this Report, which is incorporated here by reference.", + "Not all elements of interest rate, market and credit risk are addressed through the use of financial or other derivatives, and such instruments may be ineffective for their intended purposes due to unanticipated market changes, among other reasons.", + "The following table summarizes the notional or contractual amounts and net fair value of financial derivatives at December 31, 2012 and December 31, 2011.", + "Table 54: Financial Derivatives Summary", + "||December 31, 2012|December 31, 2011|\n|In millions|Notional/ ContractualAmount|Net Fair Value (a)|Notional/ Contractual Amount|Net Fair Value (a)|\n| Derivatives designated as hedging instruments under GAAP|||||\n|Total derivatives designated as hedging instruments|$29,270|$1,720|$29,234|$1,772|\n| Derivatives not designated as hedging instruments under GAAP|||||\n|Total derivatives used for residential mortgage banking activities|$166,819|$588|$196,991|$565|\n|Total derivatives used for commercial mortgage banking activities|4,606|-23|2,720|-21|\n|Total derivatives used for customer-related activities|163,848|30|158,095|-132|\n|Total derivatives used for other risk management activities|1,813|-357|4,289|-327|\n|Total derivatives not designated as hedging instruments|$337,086|$238|$362,095|$85|\n|Total Derivatives|$366,356|$1,958|$391,329|$1,857|\n", + "(a) Represents the net fair value of assets and liabilities.2011 VERSUS 2010 CONSOLIDATED INCOME STATEMENT REVIEW Summary Results Net income for 2011 was $3.1 billion, or $5.64 per diluted common share, compared with $3.4 billion, or $5.74 per diluted common share, for 2010.", + "The decrease from 2010 was primarily due to an $850 million, or 6%, reduction in total revenue, a $492 million, or 6%, increase in noninterest expense and the impact of the $328 million after-tax gain on the sale of GIS recognized in 2010, partially offset by a $1.3 billion, or 54%, decrease in the provision for credit losses in 2011.", + "In addition, 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.", + "Net Interest Income Net interest income was $8.7 billion for 2011 down from $9.2 billion in 2010.", + "The net interest margin decreased to 3.92% in 2011 compared with 4.14% for 2010, primarily due to the impact of lower purchase accounting accretion, a decline in the rate on average loan balances and the low interest rate environment partially offset by lower funding costs.", + "Noninterest Income Noninterest income was $5.6 billion for 2011 and $5.9 billion for 2010.", + "Noninterest income for 2011 reflected higher asset management fees and other income, higher residential mortgage banking revenue, and lower net other-than\u0002temporary impairments (OTTI), that were offset by a decrease in corporate service fees primarily due to a reduction in the value of commercial mortgage servicing rights, lower service charges on deposits from the impact of Regulation E rules pertaining to overdraft fees, a decrease in net gains on sales of securities and lower consumer services fees due, in part, to a decline in interchange fees on individual debit card transactions in the fourth quarter partially offset by higher transaction volumes throughout 2011.", + "Asset management revenue, including BlackRock, increased $34 million to $1.1 billion in 2011 compared to 2010.", + "The increase was driven by strong sales performance by our Asset Management Group and somewhat higher equity earnings from our BlackRock investment.", + "Discretionary assets under management at December 31, 2011 totaled $107 billion compared with $108 billion at December 31, 2010.", + "||At or for the year ended December 31|\n|Dollars in millions, except as noted|2012 (a) (b)|2011 (b)|2010 (b)|2009 (b)|2008 (c)|\n| BALANCESHEETHIGHLIGHTS||||||\n|Assets|$305,107|$271,205|$264,284|$269,863|$291,081|\n|Loans|185,856|159,014|150,595|157,543|175,489|\n|Allowance for loan and lease losses|4,036|4,347|4,887|5,072|3,917|\n|Interest-earning deposits with banks|3,984|1,169|1,610|4,488|14,859|\n|Investment securities|61,406|60,634|64,262|56,027|43,473|\n|Loans held for sale|3,693|2,936|3,492|2,539|4,366|\n|Goodwill and other intangible assets|10,869|10,144|10,753|12,909|11,688|\n|Equity investments|10,877|10,134|9,220|10,254|8,554|\n|Noninterest-bearing deposits|69,980|59,048|50,019|44,384|37,148|\n|Interest-bearing deposits|143,162|128,918|133,371|142,538|155,717|\n|Total deposits|213,142|187,966|183,390|186,922|192,865|\n|Transaction deposits (d)|176,705|147,637|134,654|126,244|110,997|\n|Borrowed funds (e)|40,907|36,704|39,488|39,261|52,240|\n|Total shareholders\u2019 equity|39,003|34,053|30,242|29,942|25,422|\n|Common shareholders\u2019 equity|35,413|32,417|29,596|22,011|17,490|\n| CLIENTASSETS(billions)||||||\n|Discretionary assets under management|$112|$107|$108|$103|$103|\n|Nondiscretionary assets under management|112|103|104|102|125|\n|Total assets under administration|224|210|212|205|228|\n|Brokerage account assets (f)|38|34|34|32|29|\n|Total client assets|$262|$244|$246|$237|$257|\n| SELECTEDRATIOS||||||\n|Net interest margin (g)|3.94%|3.92%|4.14%|3.82%|3.37%|\n|Noninterest income to total revenue|38|39|39|44|39|\n|Efficiency|68|64|57|56|59|\n|Return on||||||\n|Average common shareholders\u2019 equity|8.31|9.56|10.88|9.78|6.52|\n|Average assets|1.02|1.16|1.28|.87|.64|\n|Loans to deposits|87|85|82|84|91|\n|Dividend payout|29.0|20.2|6.8|21.4|104.6|\n|Tier 1 common|9.6|10.3|9.8|6.0|4.8|\n|Tier 1 risk-based|11.6|12.6|12.1|11.4|9.7|\n|Common shareholders\u2019 equity to total assets|11.6|12.0|11.2|8.2|6.0|\n|Average common shareholders\u2019 equity to average assets|11.5|11.9|10.4|7.2|9.6|\n| SELECTEDSTATISTICS||||||\n|Employees|56,285|51,891|50,769|55,820|59,595|\n|Retail Banking branches|2,881|2,511|2,470|2,513|2,581|\n|ATMs|7,282|6,806|6,673|6,473|6,233|\n|Residential mortgage servicing portfolio (billions)|$135|$131|$139|$158|$187|\n|Commercial mortgage servicing portfolio (billions)|$282|$267|$266|$287|$270|\n", + "(a) Includes the impact of RBC Bank (USA), which we acquired on March 2, 2012.", + "(b) Includes the impact of National City, which we acquired on December 31, 2008.", + "(c) Includes the impact of National City except for the following Selected Ratios: Net interest margin, Noninterest income to total revenue, Efficiency, Return on Average common shareholders\u2019 equity, Return on Average assets, Dividend payout and Average common shareholders\u2019 equity to average assets.", + "(d) Represents the sum of interest-bearing money market deposits, interest-bearing demand deposits, and noninterest-bearing deposits.", + "(e) Includes long-term borrowings of $19.3 billion, $20.9 billion, $24.8 billion, $26.3 billion and $33.6 billion for 2012, 2011, 2010, 2009 and 2008, respectively.", + "Borrowings which mature more than one year after December 31, 2012 are considered to be long-term.", + "(f) Amounts for 2012, 2011 and 2010 include cash and money market balances.", + "(g) Calculated as taxable-equivalent net interest income divided by average earning assets.", + "The interest income earned on certain earning assets is completely or partially exempt from federal income tax.", + "As such, these tax-exempt instruments typically yield lower returns than taxable investments.", + "To provide more meaningful comparisons of net interest margins for all earning assets, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.", + "This adjustment is not permitted under accounting principles generally accepted in the United States of America (GAAP) on the Consolidated Income Statement.", + "The taxable-equivalent adjustments to net interest income for the years 2012, 2011, 2010, 2009 and 2008 were $144 million, $104 million, $81 million, $65 million and $36 million, respectively.", + "RESIDENTIAL MORTGAGE-BACKED SECURITIES At December 31, 2012, our residential mortgage-backed securities portfolio was comprised of $31.4 billion fair value of US government agency-backed securities and $6.1 billion fair value of non-agency (private issuer) securities.", + "The agency securities are generally collateralized by 1-4 family, conforming, fixed-rate residential mortgages.", + "The non-agency securities are also generally collateralized by 1-4 family residential mortgages.", + "The mortgage loans underlying the non-agency securities are generally non-conforming (i. e. , original balances in excess of the amount qualifying for agency securities) and predominately have interest rates that are fixed for a period of time, after which the rate adjusts to a floating rate based upon a contractual spread that is indexed to a market rate (i. e. , a \u201chybrid ARM\u201d), or interest rates that are fixed for the term of the loan.", + "Substantially all of the non-agency securities are senior tranches in the securitization structure and at origination had credit protection in the form of credit enhancement, over\u0002collateralization and/or excess spread accounts.", + "During 2012, we recorded OTTI credit losses of $99 million on non-agency residential mortgage-backed securities.", + "All of the losses were associated with securities rated below investment grade.", + "As of December 31, 2012, the noncredit portion of impairment recorded in Accumulated other comprehensive income for non-agency residential mortgage\u0002backed securities for which we have recorded an OTTI credit loss totaled $150 million and the related securities had a fair value of $3.7 billion.", + "The fair value of sub-investment grade investment securities for which we have not recorded an OTTI credit loss as of December 31, 2012 totaled $1.9 billion, with unrealized net gains of $114 million.", + "COMMERCIAL MORTGAGE-BACKED SECURITIES The fair value of the non-agency commercial mortgage\u0002backed securities portfolio was $5.9 billion at December 31, 2012 and consisted of fixed-rate, private-issuer securities collateralized by non-residential properties, primarily retail properties, office buildings, and multi-family housing.", + "The agency commercial mortgage-backed securities portfolio was $2.0 billion fair value at December 31, 2012 consisting of multi-family housing.", + "Substantially all of the securities are the most senior tranches in the subordination structure.", + "There were no OTTI credit losses on commercial mortgage\u0002backed securities during 2012.", + "ASSET-BACKED SECURITIES The fair value of the asset-backed securities portfolio was $6.5 billion at December 31, 2012 and consisted of fixed-rate and floating-rate, private-issuer securities collateralized primarily by various consumer credit products, including residential mortgage loans, credit cards, automobile loans, and student loans.", + "Substantially all of the securities are senior tranches in the securitization structure and have credit protection in the form of credit enhancement, over-collateralization and/or excess spread accounts.", + "We recorded OTTI credit losses of $11 million on asset\u0002backed securities during 2012.", + "All of the securities are collateralized by first lien and second lien residential mortgage loans and are rated below investment grade.", + "As of December 31, 2012, the noncredit portion of impairment recorded in Accumulated other comprehensive income for asset-backed securities for which we have recorded an OTTI credit loss totaled $52 million and the related securities had a fair value of $603 million.", + "For the sub-investment grade investment securities (available for sale and held to maturity) for which we have not recorded an OTTI loss through December 31, 2012, the fair value was $47 million, with unrealized net losses of $3 million.", + "The results of our security-level assessments indicate that we will recover the cost basis of these securities.", + "Note 8 Investment Securities in the Notes To Consolidated Financial Statements in Item 8 of this Report provides additional information on OTTI losses and further detail regarding our process for assessing OTTI.", + "If current housing and economic conditions were to worsen, and if market volatility and illiquidity were to worsen, or if market interest rates were to increase appreciably, the valuation of our investment securities portfolio could be adversely affected and we could incur additional OTTI credit losses that would impact our Consolidated Income Statement.", + "LOANS HELD FOR SALE Table 15: Loans Held For Sale", + "|In millions|December 312012|December 312011|\n|Commercial mortgages at fair value|$772|$843|\n|Commercial mortgages at lower of cost or market|620|451|\n|Total commercial mortgages|1,392|1,294|\n|Residential mortgages at fair value|2,096|1,415|\n|Residential mortgages at lower of cost or market|124|107|\n|Total residential mortgages|2,220|1,522|\n|Other|81|120|\n|Total|$3,693|$2,936|\n", + "We stopped originating commercial mortgage loans held for sale designated at fair value in 2008 and continue pursuing opportunities to reduce these positions at appropriate prices.", + "At December 31, 2012, the balance relating to these loans was $772 million, compared to $843 million at December 31, 2011.", + "We sold $32 million in unpaid principal balances of these commercial mortgage loans held for sale carried at fair value in 2012 and sold $25 million in 2011." + ], + "question_id": "simplong-test-349", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Pension and employee benefit obligations ,AFDC recorded in plant(a) ,Conservation programs(a) and Contract valuation adjustments(d) in 2006? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Liquidity and Capital Resources The following table presents selected financial information and statistics for each of the last three fiscal years (dollars in millions):", + "||2004|2003|2002|\n|Cash, cash equivalents, and short-term investments|$5,464|$4,566|$4,337|\n|Accounts receivable, net|$774|$766|$565|\n|Inventory|$101|$56|$45|\n|Working capital|$4,375|$3,530|$3,730|\n|Days sales in accounts receivable (DSO) (a)|30|41|36|\n|Days of supply in inventory (b)|5|4|4|\n|Days payables outstanding (DPO) (c)|76|82|77|\n|Annual operating cash flow|$934|$289|$89|\n", + "As of September 25, 2004, the Company had $5.464 billion in cash, cash equivalents, and short-term investments, an increase of $898 million over the same balances at the end of fiscal 2003.", + "The principal components of this increase were cash generated by operating activities of $934 million and proceeds of $427 million from the issuance of common stock under stock plans, partially offset by cash used to repay the Company\u2019s outstanding debt of $300 million and purchases of property, plant, and equipment of $176 million.", + "The Company\u2019s short-term investment portfolio is primarily invested in high credit quality, liquid investments.", + "Approximately $3.2 billion of this cash, cash equivalents, and short-term investments are held by the Company\u2019s foreign subsidiaries and would be subject to U. S. income taxation on repatriation to the U. S. The Company is currently assessing the impact of the one-time favorable foreign dividend provisions recently enacted as part of the American Jobs Creation Act of 2004, and may decide to repatriate earnings from some of its foreign subsidiaries.", + "The Company believes its existing balances of cash, cash equivalents, and short-term investments will be sufficient to satisfy its working capital needs, capital expenditures, stock repurchase activity, outstanding commitments, and other liquidity requirements associated with its existing operations over the next 12 months.", + "Debt In February 2004, the Company retired $300 million of debt outstanding in the form of 6.5% unsecured notes.", + "The notes were originally issued in 1994 and were sold at 99.9925% of par for an effective yield to maturity of 6.51%.", + "The Company currently has no long-term debt obligations.", + "Capital Expenditures The Company\u2019s total capital expenditures were $176 million during fiscal 2004, $104 million of which were for retail store facilities and equipment related to the Company\u2019s Retail segment and $72 million of which were primarily for corporate infrastructure, including information systems enhancements and operating facilities enhancements and expansions.", + "The Company currently anticipates it will utilize approximately $240 million for capital expenditures during 2005, approximately $125 million of which is expected to be utilized for further expansion of the Company\u2019s Retail segment and the remainder utilized to support normal replacement of existing capital assets and enhancements to general information technology infrastructure.", + "approved in 2006 has been used for the regulatory presentation and all the updated parameters were used for the 2005 ARO layer for SFAS No.143 recognition.16.", + "Regulatory Assets and Liabilities Xcel Energy\u2019s regulated businesses prepare their Consolidated Financial Statements in accordance with the provisions of SFAS No.71, as discussed in Note 1 to the Consolidated Financial Statements.", + "Under SFAS No.71, regulatory assets and liabilities can be created for amounts that regulators may allow to be collected, or may require to be paid back to customers in future electric and natural gas rates.", + "Any portion of Xcel Energy\u2019s business that is not regulated cannot use SFAS No.71 accounting.", + "If changes in the utility industry or the business of Xcel Energy no longer allow for the application of SFAS No.71 under GAAP, Xcel Energy would be required to recognize the write-off of regulatory assets and liabilities in its statement of income.", + "The components of unamortized regulatory assets and liabilities of continuing operations shown on the balance sheet at Dec. 31 are:", + "| | See Note(s)| Remaining Amortization Period| 2006| 2005|\n| | (Thousands of Dollars)|\n| Regulatory Assets|||||\n|Pension and employee benefit obligations|9|Various|$475,815|$27,234|\n|AFDC recorded in plant(a)||Plant lives|179,023|170,785|\n|Conservation programs(a)||Various|124,123|111,429|\n|||Term of related|||\n|Contract valuation adjustments(d)|11|contract|109,221|111,639|\n|Losses on reacquired debt|1|Term of related debt|74,420|84,290|\n|Net asset retirement obligations(e)|1,14|Plant lives|54,550|171,170|\n|Renewable resource costs||One to two years|49,902|50,453|\n|Environmental costs|14,15|Generally four to six years|35,715|33,957|\n|Unrecovered natural gas costs(c)|1|One to two years|17,943|12,998|\n|Private fuel storage||Five years|14,473|\u2014|\n|State commission accounting adjustments(a)||Plant lives|13,950|14,460|\n|Unrecovered electric production and MISO Day 2 costs|1|To be determined in future rate proceedings|11,014|6,634|\n|Nuclear decommissioning costs(b)||To be determined in future rate proceedings|9,325|8,317|\n|Rate case costs|1|Various|8,689|4,549|\n|Other||Various|10,982|12,092|\n|Total regulatory assets|||$1,189,145|$820,007|\n|Regulatory Liabilities|||||\n|Plant removal costs|1,14||$920,583|$895,653|\n|Pension and employee benefit obligations|9||196,803|397,261|\n|Investment tax credit deferrals|||78,205|84,437|\n|Deferred income tax adjustments|1||67,002|75,171|\n|Contract valuation adjustments(d)|11||56,745|99,734|\n|Fuel costs, refunds and other|||30,032|9,137|\n|Electric fuel recovery refund|||10,054|\u2014|\n|Interest on income tax refunds|||5,233|6,031|\n|Total regulatory liabilities|||$1,364,657|$1,567,424|\n", + "(a) Earns a return on investment in the ratemaking process.", + "These amounts are amortized consistent with recovery in rates.", + "(b) These costs do not relate to NSP-Minnesota\u2019s nuclear plants.", + "They relate to the DOE assessments, as discussed previously in Note 15.", + "(c) Excludes current portion expected to be returned to customers within 12 months of $17.7 million and $16.3 million for 2006 and 2005, respectively.", + "(d) Includes the fair value of certain long-term contracts used to meet native energy requirements.", + "(e) Includes amounts recorded for future recovery of asset retirement obligations, less amounts recovered through nuclear decommissioning accruals and gains from decommissioning investments.", + "| | Options|\n| | Source of Fair Value| Maturity Less Than 1 Year| Maturity 1 to 3 Years| Maturity 4 to 5 Years| Maturity Greater Than 5 Years| Total Options Fair Value|\n| | (Thousands of Dollars)|\n|NSP-Minnesota|2|$514|$\u2014|$\u2014|$\u2014|$514|\n|PSCo|2|3,241|\u2014|\u2014|\u2014|3,241|\n|NSP-Wisconsin|2|20|\u2014|\u2014|\u2014|20|\n|Total Options Fair Value||$3,775|$\u2014|$\u2014|$\u2014|$3,775|\n", + "1 \u2014 Prices actively quoted or based on actively quoted prices.2 \u2014 Prices based on models and other valuation methods.", + "These represent the fair value of positions calculated using internal models when directly and indirectly quoted external prices or prices derived from external sources are not available.", + "Internal models incorporate the use of options pricing and estimates of the present value of cash flows based upon underlying contractual terms.", + "The models reflect management\u2019s estimates, taking into account observable market prices, estimated market prices in the absence of quoted market prices, the risk-free market discount rate, volatility factors, estimated correlations of commodity prices and contractual volumes.", + "Market price uncertainty and other risks also are factored into the model.", + "* \u2014 SPS conducts an inconsequential amount of commodity trading.", + "Margins from commodity trading activity are partially redistributed to SPS, NSP-Minnesota, and PSCo, pursuant to the JOA approved by the FERC.", + "As a result of the JOA, margins received pursuant to the JOA are reflected as part of the fair values by source for the commodity trading net asset or liability balances.", + "Normal purchases and sales transactions, as defined by SFAS No.133 and certain other long-term power purchase contracts are not included in the fair values by source tables as they are not recorded at fair value as part of commodity trading operations and are not qualifying hedges.", + "At Dec. 31, 2006, a 10-percent increase in market prices over the next 12 months for commodity trading contracts would increase pretax income from continuing operations by approximately $0.9 million, whereas a 10-percent decrease would decrease pretax income from continuing operations by approximately $1.1 million.", + "Xcel Energy\u2019s short-term wholesale and commodity trading operations measure the outstanding risk exposure to price changes on transactions, contracts and obligations that have been entered into, but not closed, using an industry standard methodology known as VaR.", + "VaR expresses the potential change in fair value on the outstanding transactions, contracts and obligations over a particular period of time, with a given confidence interval under normal market conditions.", + "Xcel Energy utilizes the variance/covariance approach in calculating VaR.", + "The VaR model employs a 95-percent confidence interval level based on historical price movement, lognormal price distribution assumption, delta half-gamma approach for non-linear instruments and a three-day holding period for both electricity and natural gas.", + "VaR is calculated on a consolidated basis.", + "The VaRs for the commodity trading operations were:", + "| | | During 2006|\n| | Year ended Dec. 31, 2006| Average| High| Low|\n| | (Millions of Dollars)|\n|Commodity trading(a)|$0.49|$1.32|$2.60|$0.39|\n", + "(a) Comprises transactions for NSP-Minnesota, PSCo and SPS.", + "Interest Rate Risk \u2014 Xcel Energy and its subsidiaries are subject to the risk of fluctuating interest rates in the normal course of business.", + "Xcel Energy\u2019s policy allows interest rate risk to be managed through the use of fixed rate debt, floating rate debt and interest rate derivatives such as swaps, caps, collars and put or call options.", + "Xcel Energy engages in hedges of cash flow and fair value exposure.", + "The fair value of interest rate swaps designated as cash flow hedges is initially recorded in Other Comprehensive Income.", + "Reclassification of unrealized gains or losses on cash flow hedges of variable rate debt instruments from Other Comprehensive Income into earnings occurs as interest payments are accrued on the debt instrument, and generally offsets the change in the interest accrued on the underlying variable rate debt.", + "Hedges of fair value exposure are entered into to hedge the fair value of debt instruments.", + "Changes in the derivative fair values that are designated as fair value hedges are recognized in earnings as offsets to the changes in fair values of debt instruments.", + "To test the effectiveness of such swaps, a hypothetical swap is used to mirror all the critical terms of the underlying debt and regression analysis is utilized to assess the effectiveness of the actual swap at inception and on an ongoing basis.", + "The fair value of interest rate swaps is determined through", + "Dividend and Other Capital-Related Restrictions \u2014 Xcel Energy depends on its subsidiaries to pay dividends.", + "All of Xcel Energy Inc. \u2019s utility subsidiaries\u2019 dividends are subject to the FERC\u2019s jurisdiction, which prohibits the payment of dividends out of capital accounts; payment of dividends is allowed out of retained earnings only.", + "Due to certain restrictive covenants, Xcel Energy Inc. is required to be current on particular interest payments before dividends can be paid.", + "The most restrictive dividend limitations for NSP-Minnesota, NSP-Wisconsin and SPS are imposed by their respective state regulatory commission.", + "PSCo\u2019s dividends are subject to the FERC\u2019s jurisdiction under the Federal Power Act, which prohibits the payment of dividends out of capital accounts; payment of dividends is allowed out of retained earnings only.", + "Only NSP-Minnesota has a first mortgage indenture which places certain restrictions on the amount of cash dividends it can pay to Xcel Energy Inc. , the holder of its common stock.", + "Even with this restriction, NSP-Minnesota could have paid more than $1.7 billion in additional cash dividends to Xcel Energy Inc. at both Dec. 31, 2016 and 2015.", + "NSP-Minnesota\u2019s state regulatory commissions indirectly limit the amount of dividends NSP-Minnesota can pay by requiring an equity-to-total capitalization ratio between 46.9 percent and 57.3 percent.", + "NSP-Minnesota\u2019s equity-to-total capitalization ratio was 52.1 percent at Dec. 31, 2016 and $1.0 billion in retained earnings was not restricted.", + "Total capitalization for NSP-Minnesota was $10.3 billion at Dec. 31, 2016, which did not exceed the limit of $10.75 billion.", + "NSP-Wisconsin cannot pay annual dividends in excess of approximately $53.1 million if its calendar year average equity-to-total capitalization ratio is or falls below the state commission authorized level of 52.5 percent, as calculated consistent with PSCW requirements.", + "NSP-Wisconsin\u2019s calendar year average equity-to-total capitalization ratio calculated on this basis was 53.6 percent at Dec. 31, 2016 and $33.6 million in retained earnings was not restricted.", + "SPS\u2019 state regulatory commissions indirectly limit the amount of dividends that SPS can pay Xcel Energy Inc. by requiring an equity\u0002to-total capitalization ratio (excluding short-term debt) between 45.0 percent and 55.0 percent.", + "In addition, SPS may not pay a dividend that would cause it to lose its investment grade bond rating.", + "SPS\u2019 equity-to-total capitalization ratio (excluding short-term debt) was 54.1 percent at Dec. 31, 2016 and $487 million in retained earnings was not restricted.", + "The issuance of securities by Xcel Energy Inc. generally is not subject to regulatory approval.", + "However, utility financings and certain intra-system financings are subject to the jurisdiction of the applicable state regulatory commissions and/or the FERC.", + "As of Dec. 31, 2016: ?", + "PSCo has authorization to issue up to an additional $2.2 billion of long-term debt and up to $800 million of short-term debt. ?", + "SPS has authorization to issue up to $500 million of short-term debt and SPS will file for additional long-term debt authorization. ?", + "NSP-Wisconsin has authorization to issue up to $150 million of short-term debt and NSPW will file for additional long-term debt authorization. ?", + "NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization ratio remains between 46.9 percent and 57.3 percent and to issue short-term debt provided it does not exceed 15 percent of total capitalization.", + "Total capitalization for NSP-Minnesota cannot exceed $10.75 billion.", + "Xcel Energy believes these authorizations are adequate and seeks additional authorization as necessary.5.", + "Joint Ownership of Generation, Transmission and Gas Facilities Following are the investments by Xcel Energy Inc. \u2019s utility subsidiaries in jointly owned generation, transmission and gas facilities and the related ownership percentages as of Dec. 31, 2016:" + ], + "question_id": "simplong-test-350", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Other in Table 0 in the year with the most Industrial of Rental Expenses in Table 1?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Comparison of Year Ended December 31, 2006 to Year Ended December 31, 2005 Rental Revenue from Continuing Operations Overall, rental revenue from continuing operations increased from $602.1 million in 2005 to $743.5 million in 2006.", + "The following table reconciles rental revenue from continuing operations by reportable segment to total reported rental revenue from continuing operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Office|$534,369|$443,927|\n|Industrial| 194,670|148,359|\n|Other| 14,509|9,776|\n|Total|$743,548|$602,062|\n", + "Both of our reportable segments that comprise Rental Operations (office and industrial) are within the real estate industry; however, the same economic and industry conditions do not affect each segment in the same manner.", + "The primary causes of the increase in rental revenue from continuing operations, with specific references to a particular segment when applicable, are summarized below: ?", + "In 2006, we acquired 50 new properties and placed 27 development projects in service.", + "These 2006 acquisitions and developments are the primary factor in the overall increase in rental revenue for the year ended 2006 compared to 2005 as they provided incremental revenues of $73.8 million and $9.3 million respectively.", + "These acquisitions totaled $948.4 million on 8.6 million square feet and were 99% leased at December 31, 2006. ?", + "Acquisitions and developments that were placed in service in 2005 provided $15.8 million and $11.2 million, respectively, of incremental revenue in 2006. ?", + "Rental revenue includes lease termination fees.", + "Lease termination fees relate to specific tenants who pay a fee to terminate their lease obligations before the end of the contractual lease term.", + "Lease termination fees increased from $7.3 million in 2005 to $16.1 million in 2006. ?", + "Our in-service occupancy increased from 92.7% at December 31, 2005, to 92.9% at December 31, 2006 and contributed to the remaining increase in rental revenue.", + "Equity in Earnings of Unconsolidated Companies Equity in earnings represents our ownership share of net income from investments in unconsolidated companies.", + "These joint ventures generally own and operate rental properties and develop properties.", + "These earnings increased from $29.5 million in 2005 to $38.0 million in 2006.", + "During 2006, our joint ventures sold 22 non-strategic buildings, with our share of the net gain recorded through equity in earnings totaling $18.8 million.", + "During the second quarter of 2005, one of our ventures sold three buildings, with our share of the net gain recorded through equity in earnings totaling $11.1 million.", + "Rental Expenses and Real Estate Taxes The following table reconciles rental expenses and real estate taxes by reportable segment to our total reported amounts in the statement of operations for the years ended December 31, 2006 and 2005, respectively (in thousands):", + "| | 2006| 2005|\n|Rental Expenses:|||\n|Office|$143,567|$119,052|\n|Industrial| 21,991|18,264|\n|Other| 3,519|1,557|\n|Total|$169,077|$138,873|\n|Real Estate Taxes:|||\n|Office|$55,963|$49,936|\n|Industrial| 21,760|17,758|\n|Other| 6,015|5,104|\n|Total|$83,738|$72,798|\n", + "Rental expenses and real estate taxes for 2006 have increased from 2005 by $30.2 million and $10.9 million, respectively, as the result of acquisition and development activity in 2005 and 2006 as well as from an increase in occupancy over the past two years.", + "recognition and account for the continued operations of the property by applying the finance, installment or cost recovery methods, as appropriate, until the full accrual sales criteria are met.", + "Estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales.", + "Gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the Consolidated Statements of Cash Flows.", + "Gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental are classified as gain on sale of Service Operation properties in the Consolidated Statements of Operations.", + "All activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the Consolidated Statements of Cash Flows.", + "Net Income Per Common Share Basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period.", + "Diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to Units not owned by us, by the sum of the weighted average number of common shares outstanding and minority Units outstanding, including any dilutive potential common equivalents for the period.", + "The following table reconciles the components of basic and diluted net income per common share (in thousands):", + "||2007|2006|2005|\n|Basic net income available for common shareholders|$217,692|$145,095|$309,183|\n|Minority interest in earnings of common unitholders|14,399|14,238|29,649|\n|Diluted net income available for common shareholders|$232,091|$159,333|$338,832|\n|Weighted average number of common shares outstanding|139,255|134,883|141,508|\n|Weighted average partnership Units outstanding|9,204|13,186|13,551|\n|Dilutive shares for stock-based compensation plans -1|1,155|1,324|818|\n|Weighted average number of common shares and potential dilutive common equivalents|149,614|149,393|155,877|\n", + "(1) Excludes the effect of outstanding stock options, as well as the Exchangeable Senior Notes (\u201cExchangeable Notes\u201d) issued in 2006, that have an anti-dilutive effect on earnings per share for the periods presented.", + "A joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares.", + "The effect of this option on earnings per share was anti-dilutive for the years ended December 31, 2007, 2006 and 2005.", + "Federal Income Taxes We have elected to be taxed as a real estate investment trust (\u201cREIT\u201d) under the Internal Revenue Code.", + "To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders.", + "Management intends to continue to adhere to these requirements and to maintain our REIT status.", + "As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders.", + "Accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders.", + "We are also generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders.", + "If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.", + "schedule, excluding the leases in properties designated as held-for-sale, at December 31, 2016 (in thousands, except percentage data and number of leases):", + "||Total Consolidated Portfolio|Industrial|Medical Office|Non-reportable|\n|Year ofExpiration|SquareFeet|Ann. RentRevenue*|Number of Leases|SquareFeet|Ann. RentRevenue*|SquareFeet|Ann. Rent Revenue*|SquareFeet|Ann. RentRevenue*|\n|2017|8,215|$32,966|146|8,028|$29,835|171|2,975|16|$156|\n|2018|12,729|57,870|189|12,303|46,975|416|10,781|10|114|\n|2019|13,858|61,293|210|13,525|53,543|319|7,581|14|169|\n|2020|13,014|65,938|172|12,567|56,948|423|8,772|24|218|\n|2021|13,358|61,520|186|13,042|55,293|257|5,732|59|495|\n|2022|12,712|54,950|106|12,350|47,451|330|6,940|32|559|\n|2023|3,557|23,923|62|3,134|16,111|415|7,725|8|87|\n|2024|8,857|41,951|52|8,706|38,816|151|3,135|\u2014|\u2014|\n|2025|8,000|35,392|37|7,788|31,508|212|3,884|\u2014|\u2014|\n|2026|7,363|37,513|52|7,080|31,491|283|6,022|\u2014|\u2014|\n|2027 and Thereafter|14,003|124,434|84|11,156|49,740|2,419|67,753|428|6,941|\n|Total Leased|115,666|$597,750|1,296|109,679|$457,711|5,396|131,300|591|$8,739|\n|Total Portfolio Square Feet|118,945|||112,368||5,672||905||\n|Percent Leased|97.2%|||97.6%||95.1%||65.3%||\n", + "* Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period.", + "Annualized rental revenue excludes additional amounts paid by tenants as reimbursement for operating expenses.", + "Information on current market rents can be difficult to obtain, is highly subjective and is often not directly f comparable between properties.", + "As a result, we believe the increase or decrease in net efffective rent on lease renewals, as previously defined, is the most objective and meaningful relationship between rents on leases expiring in the near-term and current market rents.", + "Acquisition Activity Our decision process in determining whether or not to acquire a target property or portfolio involves several factors, including expected rent growth, multiple yield metrics, property locations and expected demographic growth in each location, current occupancy of the target properties, tenant profile and remaining terms of the in-place leases in the target properties.", + "We pursue both brokered and non-brokered acquisitions, and it is dif W ficult to predict which f markets and product types may present acquisition opportunities that align with our strategy.", + "Because of the numerous factors considered in our acquisition decisions, we do not establish specific target yields for future acquisitions.", + "Due to increased market prices and lower acquisition yields for the class and quality of assets that meet our investment criteria, we have shifted our near term focus from acquisitions to new development activities.", + "In addition to the 14 properties acquired from the Quantico Joint VVenture, we also acquired three other properties for a total of 17 properties during the year ended December 31, 2016 and two properties during the year ended December 31, 2015.", + "The following table summarizes the acquisition price, percent leased at time of acquisition and in-place yields by product type for these acquisitions (in thousands, except percentage data):" + ], + "question_id": "simplong-test-351", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the growth rate in net revenue for entergy wholesale commodities in 2013?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PART I ITEM 1. BUSINESS Our Company Founded in 1886, American Water Works Company, Inc. , (the \u201cCompany,\u201d \u201cAmerican Water\u201d or \u201cAWW\u201d) is a Delaware holding company.", + "American Water is the most geographically diversified, as well as the largest publicly-traded, United States water and wastewater utility company, as measured by both operating revenues and population served.", + "As a holding company, we conduct substantially all of our business operations through our subsidiaries.", + "Our approximately 6,400 employees provide an estimated 15 million people with drinking water, wastewater and/or other water-related services in 47 states and one Canadian province.", + "Operating Segments We report our results of operations in two operating segments: the Regulated Businesses and the Market\u0002Based Operations.", + "Additional information with respect to our operating segment results is included in the section entitled \u201cItem 7\u2014Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d and Note 18 of the Consolidated Financial Statements.", + "Regulated Businesses Our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.", + "We report the results of this business in our Regulated Businesses segment.", + "Our subsidiaries that provide these services are generally subject to economic regulation by certain state commissions or other entities engaged in economic regulation, hereafter referred to as Public Utility Commissions, or \u201cPUCs,\u201d of the states in which we operate.", + "The federal and state governments also regulate environmental, health and safety, and water quality matters.", + "Our Regulated Businesses segment operating revenues were $2,674.3 million for 2014, $2,539.9 for 2013, $2,564.4 million for 2012, accounting for 88.8%, 90.1% and 89.9%, respectively, of total operating revenues for the same periods.", + "The following table sets forth our Regulated Businesses operating revenues, number of customers and an estimate of population served as of December 31, 2014:", + "||OperatingRevenues(In millions)|% of Total|Number ofCustomers|% of Total|EstimatedPopulationServed(In millions)|% of Total|\n|New Jersey|$652.3|24.5%|648,066|20.2%|2.7|22.7%|\n|Pennsylvania|605.4|22.6%|666,415|20.7%|2.2|18.5%|\n|Missouri|270.2|10.1%|464,498|14.4%|1.5|12.7%|\n|Illinois (a)|262.3|9.8%|312,017|9.7%|1.3|10.9%|\n|California|209.8|7.8%|174,198|5.4%|0.6|5.0%|\n|Indiana|200.6|7.5%|293,666|9.1%|1.2|10.1%|\n|West Virginia (b)|127.0|4.7%|170,371|5.3%|0.6|5.0%|\n|Subtotal (Top Seven States)|2,327.6|87.0%|2,729,231|84.8%|10.1|84.9%|\n|Other (c)|346.7|13.0%|489,961|15.2%|1.8|15.1%|\n|Total Regulated Businesses|$2,674.3|100.0%|3,219,192|100.0%|11.9|100.0%|\n", + "(a) Includes Illinois-American Water Company, which we refer to as ILAWC and American Lake Water Company, also a regulated subsidiary in Illinois.", + "The company\u2019s Condensed Consolidated Statement of Changes in Equity in Part II, Item 8, Financial Statements and Supplementary Data, contains a detailed analysis of the changes in balance sheet equity line items.", + "The following table presents a comparative analysis of significant detailed balance sheet assets and liabilities:", + "|$ in millions|2011|2010|$ Change|% Change|\n|Cash and cash equivalents|727.4|740.5|-13.1|-1.8%|\n|Unsettled fund receivables|444.4|513.4|-69.0|-13.4%|\n|Current investments|283.7|308.8|-25.1|-8.1%|\n|Assets held for policyholders|1,243.5|1,295.4|-51.9|-4.0%|\n|Non-current investments|200.8|164.4|36.4|22.1%|\n|Investments of consolidated investment products|6,629.0|7,206.0|-577.0|-8.0%|\n|Intangible assets, net|1,322.8|1,337.2|-14.4|-1.1%|\n|Goodwill|6,907.9|6,980.2|-72.3|-1.0%|\n|Unsettled fund payables|439.6|504.8|-65.2|-12.9%|\n|Policyholder payables|1,243.5|1,295.4|-51.9|-4.0%|\n|Current maturities of total debt|215.1|\u2014|215.1|N/A|\n|Long-term debt|1,069.6|1,315.7|-246.1|-18.7%|\n|Long-term debt of consolidated investment products|5,512.9|5,865.4|-352.5|-6.0%|\n", + "Cash and cash equivalents Cash and cash equivalents decreased by $13.1 million from $740.5 million at December 31, 2010 to $727.4 million at December 31, 2011.", + "See \u201cCash Flows\u201d in the following section within this Management's Discussion and Analysis for additional discussion regarding the movements in cash flows during the periods.", + "See Item 8, Financial Statements and Supplementary Data - Note 1, \u201cAccounting Policies - Cash and Cash Equivalents,\u201d regarding requirements to mandate the retention of liquid resources in certain jurisdictions.", + "Unsettled fund receivables and payables Unsettled fund receivables decreased by $69.0 million from $513.4 million at December 31, 2010 to $444.4 million at December 31, 2011, due primarily to lower transaction activity between funds and investors in late December 2011 when compared to late December 2010 in our offshore funds.", + "In the company's capacity as sponsor of UITs, the company records receivables from brokers, dealers, and clearing organizations for unsettled sell trades of securities and UITs in addition to receivables from customers for unsettled sell trades of UITs.", + "In our U. K. and offshore activities, unsettled fund receivables are created by the normal settlement periods on transactions initiated by certain clients.", + "The presentation of the unsettled fund receivables and substantially offsetting payables ($439.6 million at December 31, 2011 down from $504.8 million at December 31, 2010 ) at trade date reflects the legal relationship between the underlying investor and the company.", + "Investments (current and non-current) As of December 31, 2011 we had $484.5 million in investments, of which $283.7 million were current investments and $200.8 million were non-current investments.", + "Included in current investments are $63.5 million of seed money investments in affiliated funds used to seed funds as we launch new products, and $184.4 million of investments related to assets held for deferred compensation plans, which are also held primarily in affiliated funds.", + "Seed investments decreased by $35.9 million during the year ended December 31, 2011, due primarily to market decreases and net disposals of seed money investments.", + "Investments held to hedge deferred compensation awards increased by $18.9 million during the year, primarily due to additional investments in affiliated funds to hedge economically new employee plan awards.", + "Included in non-current investments are $193.1 million in equity method investments in our Chinese joint ventures and in certain of the company\u2019s private equity partnerships, real estate partnerships and other investments (December 31, 2010: $156.9 million).", + "The increase of $36.2 million in equity method investments includes an increase of $32.1 million in partnership investments due to a $40.2 million co-investment in new European and Asian real estate funds, other capital calls and valuation improvements offset by distributions and capital returns during the period.", + "The value of the joint venture investments and other non-controlling equity method investments increased by $4.1 million during the year as a result of current year earnings of $17.2 million, foreign exchange rate movements which added $2.8 million to the value and capital injections of $1.6 million, offset by annual dividends paid of $17.5 million to the company.", + "Provisional Amounts Deferred tax assets and liabilities: The company remeasured certain deferred tax assets and liabilities based on the tax rates at which they are expected to reverse in the future, typically 21% under the 2017 Tax Act.", + "However, the company is still analyzing certain aspects of the legislation and refining its calculations.", + "Any updates or changes could affect the measurement of these balances or give rise to new deferred tax amounts.", + "The provisional income tax beneffit recorded related to the remeasurement of the deferred tax balance was $130.7 million at December 31, 2017.", + "Foreign tax effects: The one-time transition tax is based on the total post-1986 earnings and profits (E&P) that were previously deferred from U. S. income taxes.", + "The company does not anticipate incurring an income tax liability and therefore no provision has been made.", + "However, the company has not completed its analysis as to the existence of foreign subsidiaries it may be deemed to indirectly own (or partially own) through attribution or by way of its investment in various fund products which in turn may hold ownership in foreign subsidiaries where the transition tax may apply.", + "Therefore, our determination as to the need for a net transition tax liability may change once this analysis has been completed.", + "At December 31, 2017 the company had tax loss carryforwards accumulated in certain taxing jurisdictions in the aggregate of $413.3 million (2016: $243.8 million), approximately $35.2 million of which will expire between 2018 and 2020, $15.2 million of which will expire after 2020, with the remaining $362.9 million having an indefinite life.", + "The increase in tax loss carryforwards from 2016 to 2017 of $169.5 million results from the acquisition of the European ETF business ($160.1 million) and the impact of foreign exchange translation on non-U.", + "S. dollar denominated losses ($23.1 million) with the remainder of the movement due to additional losses not recognized ($15.8 million), offset with loss expiration and utilization ($30.0 million).", + "A valuation allowance has been recorded against the deferred tax assets related to these losses where a history of losses in the respective tax jurisdiction makes it unlikely that the deferred tax asset will be realized.", + "A reconciliation between the statutory rate and the effective tax rate on income from operations for the years ended December 31, 2017, 2016 and 2015 is as follows:", + "||2017|2016|2015|\n|Statutory Rate|35.0%|35.0%|35.0%|\n|Foreign jurisdiction statutory income tax rates|-9.6%|-8.1%|-9.2%|\n|State taxes, net of federal tax effect|2.2%|1.6%|1.6%|\n|Impact of the 2017 Tax Act|-9.3%|\u2014%|\u2014%|\n|Change in valuation allowance for unrecognized tax losses|0.4%|-0.4%|-0.1%|\n|Share Based Compensation|-0.3%|\u2014%|\u2014%|\n|Other|1.2%|0.3%|1.8%|\n|(Gains)/losses attributable to noncontrolling interests|-0.8%|-0.4%|0.1%|\n|Effective tax rate per Consolidated Statements of Income|18.8%|28.0%|29.2%|\n", + "The company's subsidiaries operate in severalt taxing jurisdictions around the world, each with its own statutory income tax rate.", + "As a result, the blended average statutory tax rate will vary from year to year depending on the mix of the profits and losses of the company's subsidiaries.", + "The majority of our profits are earned in the U. S. and the U. K. The enacted U. K. statutory tax rate, for U. S. GAAP purposes, was 19% as of December 31, 2017.", + "As of December 31, 2017, the U. S. federal statutory tax rate was 35%.", + "The 2017 Tax Act enacted for U. S. GAAP purposes on December 22, 2017 reduces the U. S. federal statutory tax rate to 21% from January 1, 2018.", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis The Grand Gulf recovery variance is primarily due to increased recovery of higher costs resulting from the Grand Gulf uprate.", + "The volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment.", + "The fuel recovery variance is primarily due to: ?", + "the deferral of increased capacity costs that will be recovered through fuel adjustment clauses; ?", + "the expiration of the Evangeline gas contract on January 1, 2013; and ?", + "an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the PUCT issued in September 2012.", + "See Note 2 to the financial statements for further discussion of this PUCT order issued in Entergy Texas's 2011 rate case.", + "The MISO deferral variance is primarily due to the deferral in April 2013, as approved by the APSC, of costs incurred since March 2010 related to the transition and implementation of joining the MISO RTO.", + "The decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments.", + "There is no effect on net income as the credits are offset by interest and investment income.", + "Entergy Wholesale Commodities Following is an analysis of the change in net revenue comparing 2013 to 2012.", + "||Amount (In Millions)|\n|2012 net revenue|$1,854|\n|Mark-to-market|-58|\n|Nuclear volume|-24|\n|Nuclear fuel expenses|-20|\n|Nuclear realized price changes|58|\n|Other|-8|\n|2013 net revenue|$1,802|\n", + "As shown in the table above, net revenue for Entergy Wholesale Commodities decreased by approximately $52 million in 2013 primarily due to: ?", + "the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges, including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins.", + "These additional sales did not qualify for hedge accounting treatment, and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance.", + "It is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle.", + "See Note 16 to the financial statements for discussion of derivative instruments; ?", + "the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where Entergy Wholesale Commodities may elect to supply power from another source when the plant is not running.", + "Amounts related to the exercise of resupply options are included in the GWh billed in the table below; and", + "bonds, the actual average life of our investments can not be known at the time of the investment.", + "We do know that the average life will not be less than the average life to next call and will not exceed the average life to maturity.", + "Data for both of these average life measures is provided in the above chart.", + "During 2005-2007, especially during 2005, there have been periods when yields available on acceptable-quality long-term non-callable securities did not meet our objectives.", + "During such periods, we have invested in shorter-term securities.", + "Some of these periods were characterized by relatively flat or inverted yield curves.", + "During such periods, we did not have to give up much yield to invest in shorter-term securities, and we took on less credit risk than had we invested longer-term.", + "Prior to 2007, we generally did not invest in securities with maturity dates more than 30 years after the acquisition date.", + "During 2007, we invested some funds in hybrid securities (bonds, trust preferred securities and redeemable preferred stocks) with very long scheduled maturity dates, often exceeding 50 years.", + "In virtually all cases, such hybrid securities are callable many years prior to the scheduled maturity date.", + "As shown in the chart above, the effective annual yield and average life to maturity on funds invested during 2005 is significantly lower than that of funds invested during 2006 and 2007.", + "This difference is reflective of the fact that, consistent with the investment environment and strategy described above, we invested relatively more funds in lower yielding, shorter-term investments in 2005 than we did in 2006- 2007.", + "Due primarily to our investments in hybrid securities as described above, the average life of funds invested during 2007 (to both next call and maturity) is significantly higher than that of investments during 2005-2006.", + "Given the long-term fixed-rate characteristics of our policy liabilities, we believe that investments with average lives in excess of 20 years are appropriate.", + "New cash flow available to us for investment was affected by issuer calls as a result of the low\u0002interest environment experienced during the past three years.", + "Issuers are more likely to call bonds when rates are low because they often can refinance them at a lower cost.", + "Calls increase funds available for investment, but they can negatively affect portfolio yield if they cause us to replace higher-yielding bonds with those available at lower prevailing yields.", + "Issuer calls were $848 million in 2007, $229 million in 2006, and $226 million in 2005.", + "As long as we continue our current investment strategy and the average yield on new investments is less than the average yield of the portfolio and of assets disposed of, the average yield on fixed maturity assets in the portfolio should decline.", + "Because of the significant investable cash flow generated from investments and operations, Torchmark will benefit if yield rates available on new investments increase.", + "Portfolio Analysis.", + "Because Torchmark has recently invested almost exclusively in fixed-maturity securities, the relative percentage of our assets invested in various types of investments varies from industry norms." + ], + "question_id": "simplong-test-352", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of ALM strategy only, Automatic rebalancing only, External reinsurance-3 and PDI in 2016? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 10 Other income (deductions) changed from $47.6 million in 2002 to ($36.0 million) in 2003 primarily due to a decrease in \"miscellaneous - net\" as a result of a $107.7 million accrual in the second quarter of 2003 for the loss that would be associated with a final, non-appealable decision disallowing abeyed River Bend plant costs.", + "See Note 2 to the consolidated financial statements for more details regarding the River Bend abeyed plant costs.", + "The decrease was partially offset by an increase in interest and dividend income as a result of the implementation of SFAS 143.", + "Interest on long-term debt decreased from $462.0 million in 2002 to $433.5 million in 2003 primarily due to the redemption and refinancing of long-term debt.", + "NON-UTILITY NUCLEAR Following are key performance measures for Non-Utility Nuclear:", + "||2004|2003|2002|\n|Net MW in operation at December 31|4,058|4,001|3,955|\n|Average realized price per MWh|$41.26|$39.38|$40.07|\n|Generation in GWh for the year|32,524|32,379|29,953|\n|Capacity factor for the year|92%|92%|93%|\n", + "2004 Compared to 2003 The decrease in earnings for Non-Utility Nuclear from $300.8 million to $245.0 million was primarily due to the $154.5 million net-of-tax cumulative effect of a change in accounting principle that increased earnings in the first quarter of 2003 upon implementation of SFAS 143.", + "See \"Critical Accounting Estimates - SFAS 143\" below for discussion of the implementation of SFAS 143.", + "Earnings before the cumulative effect of accounting change increased by $98.7 million primarily due to the following: ?", + "lower operation and maintenance expenses, which decreased from $681.8 million in 2003 to $595.7 million in 2004, primarily resulting from charges recorded in 2003 in connection with the voluntary severance program; ?", + "higher revenues, which increased from $1.275 billion in 2003 to $1.342 billion in 2004, primarily resulting from higher contract pricing.", + "The addition of a support services contract for the Cooper Nuclear Station and increased generation in 2004 due to power uprates completed in 2003 and fewer planned and unplanned outages in 2004 also contributed to the higher revenues; and ?", + "miscellaneous income resulting from a reduction in the decommissioning liability for a plant, as discussed in Note 8 to the consolidated financial statements.", + "Partially offsetting this increase were the following: ?", + "higher income taxes, which increased from $88.6 million in 2003 to $142.6 million in 2004; and ?", + "higher depreciation expense, which increased from $34.3 million in 2003 to $48.9 million in 2004, due to additions to plant in service.2003 Compared to 2002 The increase in earnings for Non-Utility Nuclear from $200.5 million to $300.8 million was primarily due to the $154.5 million net-of-tax cumulative effect of a change in accounting principle recognized in the first quarter of 2003 upon implementation of SFAS 143.", + "See \"Critical Accounting Estimates - SFAS 143\" below for discussion of the implementation of SFAS 143.", + "Income before the cumulative effect of accounting change decreased by $54.2 million.", + "The decrease was primarily due to $83.0 million ($50.6 million net-of-tax) of charges recorded in connection with the voluntary severance program.", + "Except for the effect of the voluntary severance program, operation and maintenance expenses in 2003 per MWh of generation were in line with 2002 operation and maintenance expenses.", + "Gains and Other Income The following table shows our gains and other income for the fiscal years ended December 31, 2004, January 2, 2004, and January 3, 2003.", + "| ($ in millions)| 2004 | 2003 | 2002 |\n|Timeshare note sale gains|$64|$64|$60|\n|Synthetic fuel earn-out payments received, net|28|\u2014|\u2014|\n|Gains on sales of real estate|44|21|28|\n|Gains on sales of joint venture investments|19|21|44|\n|Other|9|\u2014|\u2014|\n||$164|$106|$132|\n", + "Interest Expense 2004 COMPARED TO 2003 Interest expense decreased $11 million to $99 million, reflecting the repayment of $234 million of senior debt in the fourth quarter of 2003 and other subsequent debt reductions, partially offset by lower capitalized interest resulting from fewer projects under construction, primarily related to our Timeshare segment.2003 COMPARED TO 2002 Interest expense increased $24 million to $110 million, reflecting interest on the mort\u0002gage debt assumed in the fourth quarter of 2002 associated with the acquisition of 14 senior living communities, and lower capitalized interest resulting from fewer proj\u0002ects under construction, primarily related to our Timeshare segment.", + "In the fourth quarter of 2003, $234 million of senior debt was repaid.", + "The weighted average interest rate on the repaid debt was 7 percent.", + "Interest Income, Provision for Loan Losses, and Income Tax 2004 COMPARED TO 2003 Interest income, before the provision for loan losses, increased $17 million (13 percent) to $146 million, reflecting higher loan balances, including the $200 million note col\u0002lected in the third quarter of 2004 related to the acquisition by Cendant Corporation of our interest in the Two Flags joint venture and higher interest rates.", + "We recognized $9 million of interest income associated with the $200 million note, which was issued early in the 2004 second quarter.", + "Our provision for loan losses for 2004 was a benefit of $8 million and includes $3 million of reserves for loans deemed uncollectible at three hotels, offset by the reversal of $11 million of reserves no longer deemed necessary.", + "Income from continuing operations before income taxes generated a tax provision of $100 million in 2004, compared to a tax benefit of $43 million in 2003.", + "The differ\u0002ence is primarily attributable to the impact of the synthetic fuel joint ventures, which generated a tax benefit and tax credits of $165 million in 2004, compared to $245 mil\u0002lion in 2003 and to higher pre-tax income.", + "In the third quarter of 2003, we sold a 50 percent interest in our synthetic fuel joint ventures, and we currently consolidate the joint ventures.2003 COMPARED TO 2002 Interest income increased $7 million (6 percent) to $129 million.", + "Our provision for loan losses for 2003 was $7 million and includes $15 million of reserves for loans deemed uncollectible at six hotels, offset by the reversal of $8 million of reserves no longer deemed necessary.", + "Income from continuing operations before income taxes and minority interest gen\u0002erated a tax benefit of $43 million in 2003, compared to a tax provision of $32 million in 2002.", + "The difference is primarily attributable to the impact of our synthetic fuel operation, which generated a tax benefit and tax credits of $245 million in 2003, com\u0002pared to $208 million in 2002.", + "Excluding the impact of the synthetic fuel operation, our pre-tax income was lower in 2003, which also contributed to the favorable tax impact.", + "Our effective tax rate for discontinued operations increased from 15.7 percent to 39 percent due to the impact of the taxes in 2002 associated with the sale of stock in connection with the disposal of our Senior Living Services business.", + "Minority Interest Minority interest increased from an expense of $55 million in 2003 to a benefit of $40 million in 2004, primarily as a result of the change in the ownership structure of the synthetic fuel joint ventures following our sale of 50 percent of our interest in the joint ventures.", + "Due to the purchaser\u2019s put option, which expired on November 6, 2003, minority interest for 2003 reflected our partner\u2019s share of the synthetic fuel operating losses and its share of the associated tax benefit, along with its share of the tax credits from the June 21, 2003, sale date through the put option\u2019s expiration date, when we began accounting for the ventures under the equity method of accounting.", + "For 2004, minority interest reflects our partner\u2019s share of the synthetic fuel losses from March 26, 2004 (when we began consolidating the ventures due to the adoption of FIN 46(R)), through year-end.", + "For additional information, see the discussion relating to our \u201cSynthetic Fuel\u201d segment on page 19.", + "Income from Continuing Operations 2004 COMPARED TO 2003 Income from continuing operations increased 25 percent to $594 million, and diluted earnings per share from continuing operations increased 27 percent to $2.47.", + "The favorable results were primarily driven by strong hotel demand, new unit growth, strong timeshare results, higher interest income reflecting higher balances and rates, lower interest expense due to debt reductions, lower loan loss provisions, stronger synthetic fuel results and increased gains of $58 million, partially offset by higher income taxes excluding the synthetic fuel impact, and higher general and administra\u0002tive expenses.2003 COMPARED TO 2002 Income from continuing operations increased 8 percent to $476 million, and diluted earnings per share from continuing operations advanced 11 percent to $1.94.", + "Synthetic fuel operations contributed $96 million in 2003 compared to $74 million in 2002.", + "Our lodging financial results declined $5 million to $702 million in 2003.", + "The comparisons", + "Product Specific Risks and Risk Mitigants For certain living benefits guarantees, claims will primarily represent the funding of contractholder lifetime withdrawals after the cumulative withdrawals have first exhausted the contractholder account value.", + "Due to the age of the in force block, limited claim payments have occurred to date, and they are not expected to increase significantly within the next five years, based upon current assumptions.", + "The timing and amount of future claims will depend on actual returns on contractholder account value and actual contractholder behavior relative to our assumptions.", + "The majority of our current living benefits guarantees provide for guaranteed lifetime contractholder withdrawal payments inclusive of a \u201chighest daily\u201d contract value guarantee.", + "Our PDI variable annuity complements our variable annuity products with the highest daily benefit and provides for guaranteed lifetime contractholder withdrawal payments, but restricts contractholder asset allocation to a single bond fund sub-account within the separate accounts.", + "The majority of our variable annuity contracts with living benefits guarantees, and all new contracts sold with our highest daily living benefits feature, include risk mitigants in the form of an automatic rebalancing feature and/or inclusion in our ALM strategy.", + "We may also utilize external reinsurance as a form of additional risk mitigation.", + "The risks associated with the guaranteed benefits of certain legacy products that were sold prior to our development of the automatic rebalancing feature are also managed through our ALM strategy.", + "Certain legacy GMAB products include the automatic rebalancing feature, but are not included in the ALM strategy.", + "The PDI product and contracts with the GMIB feature have neither risk mitigant.", + "Certain risks associated with PDI are managed through the limitation of contractholder asset allocations to a single bond fund sub-account.", + "For our GMDBs, we provide a benefit payable in the event of death.", + "Our base GMDB is generally equal to a return of cumulative deposits adjusted for any partial withdrawals.", + "Certain products include an optional enhanced GMDB based on the greater of a minimum return on the contract value or an enhanced value.", + "We have retained the risk that the total amount of death benefit payable may be greater than the contractholder account value.", + "However, a substantial portion of the account values associated with GMDBs are subject to an automatic rebalancing feature because the contractholder also selected a living benefit guarantee which includes an automatic rebalancing feature.", + "All of the variable annuity account values with living benefit guarantees also contain GMDBs.", + "The living and death benefit features for these contracts cover the same insured life and, consequently, we have insured both the longevity and mortality risk on these contracts.", + "The following table sets forth the risk management profile of our living benefit guarantees and GMDB features as of the periods indicated.", + "||December 31,|\n||2016|2015|2014|\n||Account Value|% of Total|Account Value|% of Total|Account Value|% of Total|\n||(in millions)|\n|Living benefit/GMDB features-1:|||||||\n|Both ALM strategy and automatic rebalancing-2|$106,585|69%|$106,018|71%|$110,953|72%|\n|ALM strategy only|9,409|6%|9,994|7%|11,395|7%|\n|Automatic rebalancing only|1,168|1%|1,393|1%|1,771|1%|\n|External reinsurance-3|2,932|2%|1,513|1%|0|0%|\n|PDI|7,926|5%|4,664|3%|2,777|2%|\n|Other Products|2,730|2%|2,870|2%|3,324|2%|\n|Total living benefit/GMDB features|$130,750||$126,452||$130,220||\n|GMDB features and other-4|22,545|15%|22,989|15%|24,863|16%|\n|Total variable annuity account value|$153,295||$149,441||$155,083||\n", + "(1) All contracts with living benefit guarantees also contain GMDB features, covering the same insured contract.", + "(2) Contracts with living benefits that are included in our ALM strategy, and have an automatic rebalancing feature.", + "(3) Represents contracts subject to reinsurance transaction with external counterparty covering new business for the period April 1, 2015 through December 31, 2016.", + "These contracts with living benefits also have an automatic rebalancing feature.", + "(4) Includes contracts that have a GMDB feature and do not have an automatic rebalancing feature.", + "The risk profile of our variable annuity account values as of the periods above reflect our product risk diversification strategy and the runoff of legacy products over time." + ], + "question_id": "simplong-test-353", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the ratio of the purchase in december 2012 to the purchase in january 2013", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December 31, 2012, 2011 and 2010 (in thousands, except per share data):", + "|| 2012| 2011| 2010|\n|Income from continuing operations attributable to American Tower Corporation|$637,283|$396,462|$372,906|\n|Basic weighted average common shares outstanding|394,772|395,711|401,152|\n|Dilutive securities|4,515|4,484|2,920|\n|Diluted weighted average common shares outstanding|399,287|400,195|404,072|\n|Basic income from continuing operations attributable to||||\n|American Tower Corporation per common share|$1.61|$1.00|$0.93|\n|Diluted income from continuing operations attributable to||||\n|American Tower Corporation per common share|$1.60|$0.99|$0.92|\n", + "For the year ended December 31, 2010, the weighted average number of common shares outstanding excludes shares issuable upon conversion of the Company\u2019s convertible notes of 0.1 million.", + "For the years ended December 31, 2012, 2011 and 2010, the diluted weighted average number of common shares outstanding excludes shares issuable upon exercise of the Company\u2019s stock options and share based awards of 1.0 million, 0.9 million and 1.1 million, respectively, as the effect would be anti-dilutive.18.", + "COMMITMENTS AND CONTINGENCIES Litigation\u2014The Company periodically becomes involved in various claims, lawsuits and proceedings that are incidental to its business.", + "In the opinion of Company management, after consultation with counsel, there are no matters currently pending that would, in the event of an adverse outcome, materially impact the Company\u2019s consolidated financial position, results of operations or liquidity.", + "SEC Subpoena\u2014On June 2, 2011, the Company received a subpoena from the Securities and Exchange Commission (the \u201cSEC\u201d) requesting certain documents from 2007 through the date of the subpoena, including in particular documents related to our tax accounting and reporting.", + "On November 6, 2012, the SEC notified the Company that the SEC\u2019s investigation has been completed.", + "The SEC indicated that it does not intend to recommend any enforcement action against the Company.", + "Mexico Litigation\u2014One of the Company\u2019s subsidiaries, SpectraSite Communications, Inc. (\u201cSCI \u201c), a predecessor in interest by conversion to SpectraSite Communications, LLC, was involved in a lawsuit brought in Mexico against a former Mexican subsidiary of SCI (the subsidiary of SCI was sold in 2002, prior to the Company\u2019s acquisition of SCI in 2005).", + "The lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in Mexico.", + "The primary issue for the Company is whether SCI itself can be found liable to the Mexican carrier.", + "The trial and lower appellate courts initially found that SCI had no such liability in part because Mexican courts did not have the necessary jurisdiction over SCI.", + "In September 2010, following several decisions by Mexican appellate courts, including the Supreme Court of Mexico, and related appeals by both parties, an intermediate appellate court issued a new decision that would have, if enforceable, re-imposed liability on SCI if the primary defendant in the case were unable to satisfy the judgment.", + "In its decision, the intermediate appellate court identified potential damages, in the form of potential statutory interest, of approximately $6.7 million as of that date.", + "On October 14, 2010, the Company filed a new constitutional appeal to again dispute the decision, which was rejected on January 24, 2012.", + "The case was", + "Issuer Purchases of Equity Securities During the three months ended December 31, 2012, we repurchased 619,314 shares of our common stock for an aggregate of approximately $46.0 million, including commissions and fees, pursuant to our publicly announced stock repurchase program, as follows:", + "|Period|Total Number of Shares Purchased-1|Average Price Paid per Share-2|Total Number of Shares Purchased as Part of Publicly Announced Plans orPrograms|Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans orPrograms (in millions)|\n|October 2012|27,524|$72.62|27,524|$1,300.1|\n|November 2012|489,390|$74.22|489,390|$1,263.7|\n|December 2012|102,400|$74.83|102,400|$1,256.1|\n|Total Fourth Quarter|619,314|$74.25|619,314|$1,256.1|\n", + "(1) Repurchases made pursuant to the $1.5 billion stock repurchase program approved by our Board of Directors in March 2011 (the \u201c2011 Buyback\u201d).", + "Under this program, our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.", + "To facilitate repurchases, we make purchases pursuant to trading plans under Rule 10b5-1 of the Exchange Act, which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.", + "This program may be discontinued at any time.", + "(2) Average price per share is calculated using the aggregate price, excluding commissions and fees.", + "We continued to repurchase shares of our common stock pursuant to our 2011 Buyback subsequent to December 31, 2012.", + "Between January 1, 2013 and January 21, 2013, we repurchased an additional 15,790 shares of our common stock for an aggregate of $1.2 million, including commissions and fees, pursuant to the 2011 Buyback.", + "As a result, as of January 21, 2013, we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 Buyback for an aggregate of $245.2 million, including commissions and fees.", + "We expect to continue to manage the pacing of the remaining $1.3 billion under the 2011 Buyback in response to general market conditions and other relevant factors.", + "|| As of December 31,|\n|| 2012| 2011| 2010| 2009| 2008|\n|| (In thousands)|\n| Balance Sheet Data:-8|||\n|Cash and cash equivalents (including restricted cash)(9)|$437,934|$372,406|$959,935|$295,129|$194,943|\n|Property and equipment, net|5,789,995|4,981,722|3,683,474|3,169,623|3,022,636|\n|Total assets|14,089,129|12,242,395|10,370,084|8,519,931|8,211,665|\n|Long-term obligations, including current portion|8,753,376|7,236,308|5,587,388|4,211,581|4,333,146|\n|Total American Tower Corporation equity|3,573,101|3,287,220|3,501,444|3,315,082|2,991,322|\n", + "(1) For the years ended December 31, 2012 and 2011, amount includes approximately $0.8 million and $1.1 million, respectively, in stock-based compensation expense.", + "For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.", + "(2) For the years ended December 31, 2012 and 2011, amount includes approximately $1.0 million and $1.2 million, respectively, in stock-based compensation expense.", + "For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.", + "(3) In 2008, we completed a review of the estimated useful lives of our tower assets.", + "Based upon this review, we revised the estimated useful lives of our towers and certain related intangible assets, primarily our network location intangible assets, from our historical estimate of 15 years to a revised estimate of 20 years.", + "We accounted for this change as a change in estimate, which was accounted for prospectively, effective January 1, 2008.", + "For the year ended December 31, 2008, the change resulted in a reduction in depreciation and amortization expense of approximately $121.2 million and an increase in net income of approximately $74.4 million.", + "(4) For the years ended December 31, 2012, 2011, 2010, 2009 and 2008 amount includes approximately $50.2 million, $45.1 million, $52.6 million, $60.7 million and $54.8 million, respectively, in stock-based compensation expense.", + "(5) We ceased to consolidate Verestar, Inc\u2019s (\u201cVerestar\u201d) financial results beginning in December 2003 and reported the results as discontinued operations.", + "Income from discontinued operations for 2008 includes an income tax benefit of $110.1 million related to losses associated with our investment in Verestar.", + "(6) Basic income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period.", + "Diluted income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock, shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of our convertible notes, as determined under the if-converted method.", + "Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 18 to our consolidated financial statements included in this Annual Report).", + "(7) For the purpose of this calculation, \u201cearnings\u201d consists of income from continuing operations before income taxes, income on equity method investments and fixed charges (excluding interest capitalized and amortization of interest capitalized).", + "\u201cFixed charges\u201d consists of interest expense, including amounts capitalized, amortization of debt discounts and premiums and related issuance costs and the component of rental expense associated with operating leases believed by management to be representative of the interest factor thereon.", + "(8) Balances have been revised to reflect purchase accounting measurement period adjustments.", + "(9) As of December 31, 2012, 2011, 2010, 2009 and 2008, includes approximately $69.3 million, $42.2 million, $76.0 million, $47.8 million and $51.9 million, respectively, in restricted funds pledged as collateral to secure obligations and cash that is otherwise limited by contractual provisions." + ], + "question_id": "simplong-test-354", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the total amount of principle payment paid from 2008 to 2011?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(Continued) merchant acquiring business in the United Kingdom to the partnership.", + "In addition, HSBC UK entered into a ten-year marketing alliance with the partnership in which HSBC UK will refer customers to the partnership for payment processing services in the United Kingdom.", + "On June 23, 2008, we entered into a new five year, $200 million term loan to fund a portion of the acquisition.", + "We funded the remaining purchase price with excess cash and our existing credit facilities.", + "The term loan bears interest, at our election, at the prime rate or London Interbank Offered Rate plus a margin based on our leverage position.", + "As of July 1, 2008, the interest rate on the term loan was 3.605%.", + "The term loan calls for quarterly principal payments of $5 million beginning with the quarter ending August 31, 2008 and increasing to $10 million beginning with the quarter ending August 31, 2010 and $15 million beginning with the quarter ending August 31, 2011.", + "The partnership agreement includes provisions pursuant to which HSBC UK may compel us to purchase, at fair value, additional membership units from HSBC UK (the \u201cPut Option\u201d).", + "HSBC UK may exercise the Put Option on the fifth anniversary of the closing of the acquisition and on each anniversary thereafter.", + "By exercising the Put Option, HSBC UK can require us to purchase, on an annual basis, up to 15% of the total membership units.", + "Additionally, on the tenth anniversary of closing and each tenth anniversary thereafter, HSBC UK may compel us to purchase all of their membership units at fair value.", + "While not redeemable until June 2013, we estimate the maximum total redemption amount of the minority interest under the Put Option would be $421.4 million, as of May 31, 2008.", + "The purpose of this acquisition was to establish a presence in the United Kingdom.", + "The key factors that contributed to the decision to make this acquisition include historical and prospective financial statement analysis and HSBC UK\u2019s market share and retail presence in the United Kingdom.", + "The purchase price was determined by analyzing the historical and prospective financial statements and applying relevant purchase price multiples.", + "The purchase price totaled $441.1 million, consisting of $438.6 million cash consideration plus $2.5 million of direct out of pocket costs.", + "The acquisition has been recorded using the purchase method of accounting, and, accordingly, the purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition.", + "The following table summarizes the preliminary purchase price allocation:", + "||Total|\n|Goodwill|$294,741|\n|Customer-related intangible assets|116,920|\n|Contract-based intangible assets|13,437|\n|Trademark|2,204|\n|Property and equipment|26,955|\n|Other current assets|100|\n|Total assets acquired|454,357|\n|Minority interest in equity of subsidiary (at historical cost)|-13,257|\n|Net assets acquired|$441,100|\n", + "Due to the recent timing of the transaction, the allocation of the purchase price is preliminary.", + "All of the goodwill associated with the acquisition is expected to be deductible for tax purposes.", + "The customer-related intangible assets have amortization periods of up to 13 years.", + "The contract-based intangible assets have amortization periods of 7 years.", + "The trademark has an amortization period of 5 years.", + "Our long-term debt, including the current portion, was $31.1 billion at December 30, 2017 and $31.8 billion at December 31, 2016.", + "The decrease in long- term debt was primarily due to our June 2017 repayment of approximately $2.0 billion aggregate principal amount of senior notes that matured in the period and our August 2017 repayment of the $600 million aggregate principal amount Term Loan Facility.", + "The decrease was partially offset by approximately $1.5 billion aggregate principal amount of long-term debt issued in August 2017.", + "Our long-term debt contains customary representations, covenants, and events of default.", + "We were in compliance with all such covenants at December 30, 2017.", + "See Note 16, Debt, to the consolidated financial statements for additional information.", + "We have approximately $2.5 billion aggregate principal amount and $C200 million aggregate principal amount of senior notes that will mature in the third quarter of 2018.", + "We expect to fund these long-term debt repayments primarily with new long-term debt issuances, cash on hand, and cash generated from our operating activities.", + "Off-Balance Sheet Arrangements and Aggregate Contractual Obligations Off-Balance Sheet Arrangements: We do not have guarantees or other off-balance sheet financing arrangements that we believe are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenue or expenses, results of operations, liquidity, capital expenditures, or capital resources.", + "See Note 14, Financing Arrangements, to the consolidated financial statements for a discussion of our accounts receivable securitization and factoring programs and other financing arrangements.", + "Aggregate Contractual Obligations: The following table summarizes our contractual obligations at December 30, 2017 (in millions):", + "||Payments Due|\n||2018|2019-2020|2021-2022|2023 and Thereafter|Total|\n|Long-term debt(a)|3,939|5,653|6,200|32,779|48,571|\n|Capital leases(b)|35|34|64|1|134|\n|Operating leases(c)|103|164|99|165|531|\n|Purchase obligations(d)|1,558|1,251|446|439|3,694|\n|Other long-term liabilities(e)|80|106|94|280|560|\n|Total|5,715|7,208|6,903|33,664|53,490|\n", + "(a) Amounts represent the expected cash payments of our long-term debt, including interest on variable and fixed rate long-term debt.", + "Interest on variable rate long-term debt is calculated based on interest rates at December 30, 2017.", + "(b) Amounts represent the expected cash payments of our capital leases, including expected cash payments of interest expense.", + "(c) Operating leases represent the minimum rental commitments under non-cancelable operating leases.", + "(d) We have purchase obligations for materials, supplies, property, plant and equipment, and co-packing, storage and distribution services based on projected needs to be utilized in the normal course of business.", + "Other purchase obligations include commitments for marketing, advertising, capital expenditures, information technology, and professional services.", + "Arrangements are considered purchase obligations if a contract specifies all significant terms, including fixed or minimum quantities to be purchased, a pricing structure, and approximate timing of the transaction.", + "A few of these obligations are long-term and are based on minimum purchase requirements.", + "Certain purchase obligations contain variable pricing components, and, as a result, actual cash payments are expected to fluctuate based on changes in these variable components.", + "Due to the proprietary nature of some of our materials and processes, certain supply contracts contain penalty provisions for early terminations.", + "We do not believe that a material amount of penalties is reasonably likely to be incurred under these contracts based upon historical experience and current expectations.", + "We exclude amounts reflected on the consolidated balance sheet as accounts payable and accrued liabilities from the table above.", + "(e) Other long-term liabilities primarily consist of estimated payments for the one-time toll charge related to U. S. tax reform, as well as postretirement benefit commitments.", + "Certain other long-term liabilities related to income taxes, insurance accruals, and other accruals included on the consolidated balance sheet are excluded from the above table as we are unable to estimate the timing of payments for these items.", + "Future payments related to other long-term liabilities decreased primarily due to payments of $1.2 billion in 2017 to pre- fund a portion of our U. S. postretirement plan benefits.", + "See Note 10, Postemployment Benefits, to the consolidated financial statements for additional information.", + "During the second quarter of 2016, we redeemed all outstanding shares of our Series A Preferred Stock, therefore we no longer pay Series A Preferred Stock dividends.", + "See Note 17, Capital Stock, to the consolidated financial statements for additional information.", + "Note 6 - Employee Benefit Plans Pension Plan and Other Postretirement Benefit Plans The Company has a non-contributory defined benefit pension plan covering substantially all of its domestic employees.", + "The benefits are based on an employee\u2019s years of service and average earnings for the 60 consecutive calendar months of highest compensation.", + "The Company also has an unfunded restoration plan to ensure payments of amounts for which employees are entitled under the provisions of the pension plan, but which are subject to limitations imposed by federal tax laws.", + "The Company\u2019s funding policy has been to make annual contributions equal to the actuarially computed liability to the extent such amounts are deductible for income tax purposes.", + "Plan assets consist of equity securities and fixed income investments.", + "The Company sponsors other plans for the benefit of its employees and retirees.", + "These plans include health care and life insurance benefits.", + "The following table reflects the required disclosures on the Company\u2019s pension and other postretirement benefit plans at December 31:", + "||Pension Benefits|Other Benefits|\n| (in thousands)|2002|2001|2002|2001|\n| Change in benefit obligation|||||\n|Benefit obligation at beginning of year|$89,587|$76,623|$2,688|$2,718|\n|Adjustment for contributions paid in 2000||-54|||\n|Service cost|4,986|3,790|346|220|\n|Interest cost|7,071|6,218|314|193|\n|Amendments|380||||\n|Plan participants\u2019 contributions|||90|71|\n|Actuarial (gain) loss|8,439|6,882|2,849|-333|\n|Benefits paid|-4,239|-3,872|-146|-181|\n|Benefit obligation at year end|$106,224|$89,587|$6,141|$2,688|\n| Change in plan assets|||||\n|Fair value of plan assets at beginning of year|$53,570|$55,487||$$|\n|Actual return on plan assets|-3,471|-1,541|||\n|Employer contribution|10,800|3,497|146|180|\n|Benefits paid|-4,239|-3,873|-146|-180|\n|Fair value of plan at end of year|$56,660|$53,570||$$|\n|Fund status|$-49,564|$-36,017|$-6,141|$-2,688|\n|Unrecognized net actuarial loss (gain)|23,366|6,826|2,472|-304|\n|Unrecognized prior service cost|2,525|2,451|-244|-274|\n|Unrecognized net transition obligation (assets)|1,167|1,191|||\n|Prepaid (accrued) benefit costs|$-22,506|$-25,549|$-3,913|$-3,266|\n| Components of net periodic benefit cost|||||\n|Service cost|$4,986|$3,790|$346|$220|\n|Interest cost|7,071|6,218|314|193|\n|Expected return on plan assets|-5,474|-4,899|||\n|Transition (assets) obligation recognition|24|24|||\n|Amortization of prior service cost|306|292|-30|-30|\n|Recognized net actuarial loss (gain)|845|-66|73|-10|\n|Net periodic benefit cost|$7,758|$5,359|$703|$373|\n| Weighted-average assumptions as of December 31,|||||\n|Discount rate|6.75%|7.25%|6.75%|7.25%|\n|Expected return on plan assets|8.50%|8.50%|||\n|Rate of compensation increase|4.00%|4.75%|4.00%|5.50%|\n" + ], + "question_id": "simplong-test-355", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the total amount of Nonaccrual Loans in 2010 for As of September 30,? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Effective for fiscal year 2010, we implemented new FASB guidance that changes the manner in which EPS is computed.", + "EPS for the prior periods were revised as required by this new guidance.", + "See Note 24 for more information regarding this new accounting guidance.", + "Reclassifications Prior to October 1, 2009, we reported minority interest within mezzanine equity on our Consolidated Statements of Financial Condition and in minority interest in earnings of subsidiaries in our computation of net income.", + "Effective October 1, 2009, we implemented new FASB guidance under which we now present noncontrolling interests as a component of equity.", + "We have reclassified certain amounts previously reported in prior year financial statements to retrospectively reflect noncontrolling interest within equity and to allocate net income (loss) between noncontrolling and our own interests.", + "Certain amounts from prior years have been reclassified to conform to the current year presentation, including a reclassification of $40.3 million and $91.5 million from net cash provided by operating activities to net cash used in investing activities in the Consolidated Statements of Cash Flows, for the years ended September 30, 2009 and 2008, respectively, related to purchases and redemptions of FHLB stock.", + "The effect of all other reclassifications on our previously reported consolidated financial statements is not material.", + "NOTE 2 - CASH AND CASH EQUIVALENTS, ASSETS SEGREGATED PURSUANT TO REGULATIONS AND DEPOSITS WITH CLEARING ORGANIZATIONS: Our cash equivalents include money market funds or highly liquid investments not held for resale with original maturities of 90 days or less.", + "The following are financial instruments that are cash and cash equivalents or other investment balances which are readily convertible into cash as of September 30, 2010 and 2009 (see Note 26 for cash and cash equivalents held by the parent):", + "||September 30,|\n||2010|2009|\n||(in 000's)|\n|Cash and Cash Equivalents:|||\n|Cash in banks-1|$2,939,963|$1,085,202|\n|U. S. Treasury securities-1|-|1,206,914|\n|Money market investments|3,276|13,969|\n|Total cash and cash equivalents|2,943,239|2,306,085|\n|Cash and securities segregated pursuant to federal regulations and other|||\n|segregated assets-2|3,430,715|2,310,261|\n|Deposits with clearing organizations-3|76,488|83,799|\n||$6,450,442|$4,700,145|\n", + "(1) At September 30, 2010 and 2009, cash, other segregated assets and U. S. Treasury securities included additional amounts in order for RJ Bank to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.", + "At September 30, 2010, cash in banks and other segregated assets included an additional $1.8 billion and $1.3 billion, respectively, funded by a combination of an overnight FHLB advance and RJBDP deposits.", + "The borrowing was repaid on October 1, 2010.", + "The RJBDP deposits were redirected to other RJBDP participating banks in early October, 2010.", + "At September 30, 2009, U. S. Treasury securities included an additional $1.2 billion funded by a combination of an overnight FHLB advance and additional RJBDP deposits.", + "The FHLB advance was repaid on October 1, 2009 and the majority of the excess RJBDP deposits were redirected to other RJBDP participating banks in October 2009.", + "(2) Consists of cash and cash equivalents maintained in accordance with Rule 15c3-3 of the Securities Exchange Act of 1934.", + "RJ&A, as a broker-dealer carrying client accounts, is subject to requirements related to maintaining cash or qualified securities in a segregated reserve account for the exclusive benefit of its clients.", + "Additionally, RJ Ltd. is required to hold client Registered Retirement Savings Plan funds in trust.", + "The $1.3 billion in other segregated assets related to the point-in-time regulatory balance sheet composition requirements mentioned above was held as collateral by the FHLB for the overnight advance.", + "(3) Consists of deposits of cash and cash equivalents or other short-term securities held by other clearing organizations or exchanges.", + "The following table shows the contractual maturities of RJ Bank\u2019s loan portfolio at September 30, 2010, including contractual principal repayments.", + "This table does not, however, include any estimates of prepayments.", + "These prepayments could shorten the average loan lives and cause the actual timing of the loan repayments to differ significantly from those shown in the following table:", + "||Due in|\n||1 Year or Less|1 Year \u2013 5 Years|>5 Years|Total|\n||(in 000\u2019s)|\n|Commercial Loans|$49,324|$515,691|$88,017|$653,032|\n|Real Estate Construction Loans-1|17,579|47,933|-|65,512|\n|Commercial Real Estate Loans-1|472,728|2,583,439|464,216|3,520,383|\n|Residential Mortgage Loans|1,169|12,921|2,004,065|2,018,155|\n|Consumer Loans|23,461|454|25|23,940|\n|Total Loans|$564,261|$3,160,438|$2,556,323|$6,281,022|\n", + "(1) Of the sum of these amounts, $1 billion is secured by non-owner occupied commercial real estate properties or their repayment is dependent upon the operation or sale of commercial real estate properties as of September 30, 2010.", + "The remainder is wholly or partially secured by real estate, the majority of which is also secured by other assets of the borrower.", + "The following table presents the comparative data for nonperforming loans and total nonperforming assets:", + "||As of September 30,|\n||2010|2009|2008|2007|2006|\n||($ in 000\u2019s)|\n|Nonaccrual Loans:||||||\n|Corporate|$67,071|$73,961|$37,462|$-|$-|\n|Residential/Consumer-1|80,825|55,097|14,571|1,391|2,091|\n|Total|147,896|129,058|52,033|1,391|2,091|\n|Accruing Loans Which are 90 Days Past Due:||||||\n|Corporate|830|12,461|-|682|-|\n|Residential/Consumer|5,257|16,863|6,131|1,992|-|\n|Total|6,087|29,324|6,131|2,674|-|\n|Total Nonperforming Loans|153,983|158,382|58,164|4,065|2,091|\n|Real Estate Owned and Other Repossessed Assets, Net:||||||\n|Corporate|19,486|4,646|1,928|-|-|\n|Residential/Consumer|8,439|4,045|2,216|1,653|-|\n|Total|27,925|8,691|4,144|1,653|-|\n|Total Nonperforming Assets, Net|$181,908|$167,073|$62,308|$5,718|$2,091|\n|Total Nonperforming Assets as a % of Total Loans, Net and Other Real Estate Owned, Net|2.97%|2.53%|0.88%|0.12%|0.09%|\n", + "(1) Of the total residential/consumer nonaccrual loans, there are residential mortgage loans totaling $68.7 million and $43.8 million, as of September 30, 2010 and 2009, respectively, for which a charge-off had previously been recorded.", + "The table of nonperforming assets above excludes $8.2 million and $1.3 million of residential troubled debt restructurings, which were performing in accordance with the restructured terms as of September 30, 2010 and 2009, respectively.", + "There were no loans modified in troubled debt restructurings, which were excluded from the table above for the years ended September 30, 2008, 2007 and 2006.", + "As of September 30, 2010 RJ Bank had commitments to lend an additional $623,000 on one nonperforming corporate loan, which was classified as a troubled debt restructuring.", + "As of September 30, 2009, RJ Bank had commitments to lend an additional $5.2 million on nonperforming loans which were not classified as troubled debt restructurings.", + "The gross interest income related to the nonperforming loans reflected in the previous table, which would have been recorded had these loans been current in accordance with their original terms, totaled $7.9 million, $7.8 million, and $1.4 million for the years ended September 30, 2010, 2009 and 2008, respectively.", + "The interest income recognized on nonperforming loans was $1.3 million, $607,000 and $231,000 for the years ended September 30, 2010, 2009 and 2008, respectively", + "We enter into security transactions on behalf of our clients and other brokers involving forward settlement.", + "Forward contracts provide for the delayed delivery of the underlying instrument.", + "The contractual amounts related to these financial instruments reflect the volume and activity and do not reflect the amounts at risk.", + "The gain or loss on these transactions is recognized on a trade date basis.", + "Transactions involving future settlement give rise to market risk, which represents the potential loss that can be caused by a change in the market value of a particular financial instrument.", + "Our exposure to market risk is determined by a number of factors, including the duration, size, composition and diversification of positions held, the absolute and relative levels of interest rates, and market volatility.", + "The credit risk for these transactions is limited to the unrealized market valuation gains recorded in the Consolidated Statements of Financial Condition.", + "The majority of our transactions, and consequently, the concentration of our credit exposure is with clients, broker\u0002dealers and other financial institutions in the U. S. These activities primarily involve collateralized arrangements and may result in credit exposure in the event that the counterparty fails to meet its contractual obligations.", + "Our exposure to credit risk can be directly impacted by volatile securities markets, which may impair the ability of counterparties to satisfy their contractual obligations.", + "We seek to control our credit risk through a variety of reporting and control procedures, including establishing credit limits based upon a review of the counterparties' financial condition and credit ratings.", + "We monitor collateral levels on a daily basis for compliance with regulatory and internal guidelines and request changes in collateral levels as appropriate.", + "RJ Ltd. is subject to foreign exchange risk primarily due to financial instruments held in U. S. dollars that may be impacted by fluctuation in foreign exchange rates.", + "In order to mitigate this risk, RJ Ltd. enters into forward foreign exchange contracts.", + "The fair value of these contracts is not significant.", + "As of September 30, 2010, forward contracts outstanding to buy and sell U. S. dollars totaled CDN $10.9 million and CDN $6.2 million, respectively.", + "RJ Bank has outstanding at any time, a significant number of commitments to extend credit and other credit-related off\u0002balance sheet financial instruments such as standby letters of credit and loan purchases, which then extend over varying periods of time.", + "These arrangements are subject to strict credit control assessments and each customer\u2019s credit worthiness is evaluated on a case-by-case basis.", + "Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and RJ Bank\u2019s exposure is limited to the replacement value of those commitments.", + "A summary of commitments to extend credit and other credit-related off-balance sheet financial instruments outstanding at September 30, 2010 and 2009, is as follows:", + "||September 30,|\n||2010|2009|\n||(in 000's)|\n|Standby Letters of Credit-1|$235,729|$242,486|\n|Open End Consumer Lines of Credit|32,328|35,369|\n|Commercial Lines of Credit|1,660,204|1,479,260|\n|Unfunded Loan Commitments - Variable Rate-1|120,363|155,518|\n|Unfunded Loan Commitments \u2013 Fixed Rate|2,824|7,553|\n", + "(1) Generally, these standby letters of credit are underwritten as part of a larger corporate credit relationship.", + "Because many lending commitments expire without being funded in whole or part, the contract amounts are not estimates of our actual future credit exposure or future liquidity requirements.", + "We maintain a reserve to provide for potential losses related to the unfunded lending commitments.", + "See Note 7 for further discussion of this reserve for unfunded lending commitments.", + "Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted.", + "The credit risk amounts are equal to the contractual amounts, assuming that the amounts are fully advanced and that the collateral or other security is of no value.", + "RJ Bank uses the same credit approval and monitoring process in extending loan commitments and other credit-related off-balance sheet instruments as it does in making loans.", + "Borrowings and Financing Arrangements The following table presents our domestic financing arrangements with third-party lenders as of September 30, 2010:", + "||Committed Unsecured|CommittedSecured|Uncommitted Secured|Uncommitted Unsecured|Total Financing Arrangements|\n||(in 000\u2019s)|\n|RJ&A (with third-party lenders)|$-|$350,000|$185,100|$250,000|$785,100|\n|RJ Bank|10,000|-|-|-|10,000|\n|Total|$10,000|$350,000|$185,100|$250,000|$795,100|\n", + "As of September 30, 2010, we had four 364-day committed and several uncommitted financing arrangements denominated in U. S. dollars and one uncommitted line of credit denominated in Canadian dollars (\u201cCDN\u201d).", + "At September 30, 2010, the aggregate domestic facilities were $795.1 million and the Canadian line of credit maintained by RJ Ltd. was CDN $20 million.", + "Outstanding borrowings on the domestic uncommitted facilities were $112 million as of September 30, 2010.", + "Lenders are under no obligation to lend to us under uncommitted credit facilities.", + "Committed facilities provided by commercial banks in the name of RJ&A include a $100 million bilateral repurchase agreement, a $150 million tri-party repurchase agreement and a $100 million secured line of credit.", + "The required market value of the collateral associated with these facilities ranges from 102% to 133%.", + "The interest rates for all of our U. S. and Canadian financing facilities are variable and are based on the Fed Funds rate, LIBOR, or Canadian prime rate, as applicable.", + "Unlike committed credit facilities, uncommitted lenders are not subject to any formula determining the interest rates they may charge on a loan.", + "For the fiscal year ended September 30, 2010, interest rates on the utilized financing facilities ranged from 0.39% to 2.75% (on a 360 days per year basis).", + "For the fiscal year ended September 30, 2009, those interest rates ranged from 0.58% to 5.00%.", + "RJ Bank had a $10 million committed unsecured line of credit of which none was outstanding as of September 30, 2010.", + "This unsecured line of credit is provided by a commercial bank for the sole purpose of purchasing Fed Funds to meet short\u0002term and unexpected funding needs.", + "Subsequent to September 30, 2010, RJ Bank elected to cancel this line of credit.", + "RJ Bank had $2.45 billion in FHLB advances outstanding at September 30, 2010, comprised of several short-term fixed\u0002rate advances and one overnight advance.", + "The overnight advance of $2.4 billion was made to meet point-in-time regulatory balance sheet composition requirements related to its qualifying as a thrift institution.", + "Due to this overnight advance, RJ Bank had less than $100,000 in immediate credit available from the FHLB on September 30, 2010 and total available credit of 40% of total assets, with the pledge of additional collateral to the FHLB.", + "Following the repayment of the $2.4 billion overnight advance on October 1, 2010, RJ Bank had $1.1 billion in immediate credit available from the FHLB and total available credit of 40% of total assets with the pledging of additional collateral to the FHLB.", + "See Note 12 of the Notes to Consolidated Financial Statements for more information.", + "At September 30, 2010, all of the FHLB advances outstanding were secured by a blanket lien on RJ Bank\u2019s residential loan portfolio, cash deposits, and agency Mortgage-Backed Securities (\u201cMBS\u201d) available for sale.", + "RJ Bank is eligible to participate in the FRB\u2019s discount-window program, however, RJ Bank does not view borrowings from the FRB as a primary means of funding.", + "The credit available in this program is subject to periodic review and may be terminated or reduced at the discretion of the FRB.", + "We maintain three unsecured settlement lines of credit available to our Argentine joint venture in the aggregate amount of $13.5 million.", + "Of the aggregate amount, one settlement line for $9 million is guaranteed by RJF.", + "There were no borrowings outstanding on any of these lines of credit as of September 30, 2010.", + "For the fiscal year ended September 30, 2010, the interest rate associated with these lines of credit ranged from 4.25% to 17% (on a 360 days per year basis).", + "For the year ended September 30, 2009, those interest rates ranged from 4% to 18%.", + "depending upon our senior unsecured debt ratings.", + "The facilities require the maintenance of a minimum net worth and a debt to net worth coverage ratio.", + "At December 31, 2006, we were in compliance with these covenants.", + "The facilities do not include any other financial restrictions, credit rating triggers (other than rating-dependent pricing), or any other provision that could require the posting of collateral.", + "In addition to our revolving credit facilities, we had $150 million in uncommitted lines of credit available, including $75 million that expires in March 2007 and $75 million expiring in May 2007.", + "Neither of these lines of credit were used as of December 31, 2006.", + "We must have equivalent credit available under our five-year facilities to draw on these $75 million lines.", + "Dividend Restrictions \u2013 We are subject to certain restrictions related to the payment of cash dividends to our shareholders due to minimum net worth requirements under the credit facilities referred to above.", + "The amount of retained earnings available for dividends was $7.8 billion and $6.2 billion at December 31, 2006 and 2005, respectively.", + "We do not expect that these restrictions will have a material adverse effect on our consolidated financial condition, results of operations, or liquidity.", + "We declared dividends of $323 million in 2006 and $316 million in 2005.", + "Shelf Registration Statement \u2013 Under a current shelf registration statement, we may issue any combination of debt securities, preferred stock, common stock, or warrants for debt securities or preferred stock in one or more offerings.", + "At December 31, 2006, we had $500 million remaining for issuance under the current shelf registration statement.", + "We have no immediate plans to issue any securities; however, we routinely consider and evaluate opportunities to replace existing debt or access capital through issuances of debt securities under this shelf registration, and, therefore, we may issue debt securities at any time.6.", + "Leases We lease certain locomotives, freight cars, and other property.", + "Future minimum lease payments for operating and capital leases with initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2006 were as follows:", + "|Millions of Dollars|OperatingLeases|Capital Leases|\n|2007|$624|$180|\n|2008|546|173|\n|2009|498|168|\n|2010|456|148|\n|2011|419|157|\n|Later Years|2,914|1,090|\n|Total minimum lease payments|$5,457|$1,916|\n|Amount representing interest|N/A|-680|\n|Present value of minimum lease payments|N/A|$1,236|\n", + "Rent expense for operating leases with terms exceeding one month was $798 million in 2006, $728 million in 2005, and $651 million in 2004.", + "When cash rental payments are not made on a straight-line basis, we recognize variable rental expense on a straight-line basis over the lease term.", + "Contingent rentals and sub-rentals are not significant." + ], + "question_id": "simplong-test-356", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of total asset-6 in the year with the most gross profit? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Entergy Corporation Notes to Consolidated Financial Statements 85 Sale and Leaseback Transactions Waterford 3 Lease Obligations In 1989, Entergy Louisiana sold and leased back 9.3% of its interest in Waterford 3 for the aggregate sum of $353.6 million.", + "The lease has an approximate term of 28 years.", + "The lessors financed the sale-leaseback through the issuance of Waterford 3 Secured Lease Obligation Bonds.", + "The lease payments made by Entergy Louisiana are sufficient to service the debt.", + "In 1994, Entergy Louisiana did not exercise its option to repurchase the 9.3% interest in Waterford 3.", + "As a result, Entergy Louisiana issued $208.2 million of non-interest bearing first mortgage bonds as collateral for the equity portion of certain amounts payable under the lease.", + "In 1997, the lessors refinanced the outstanding bonds used to finance the purchase of Waterford 3 at lower interest rates, which reduced the annual lease payments.", + "Upon the occurrence of certain events, Entergy Louisiana may be obligated to assume the outstanding bonds used to finance the purchase of the unit and to pay an amount sufficient to withdraw from the lease transaction.", + "Such events include lease events of default, events of loss, deemed loss events, or certain adverse \"Financial Events. \"", + "\"Financial Events\" include, among other things, failure by Entergy Louisiana, following the expiration of any applicable grace or cure period, to maintain (i) total equity capital (including preferred stock) at least equal to 30% of adjusted capitalization, or (ii) a fixed charge coverage ratio of at least 1.50 computed on a rolling 12 month basis.", + "As of December 31, 2003, Entergy Louisiana's total equity capital (including preferred stock) was 49.82% of adjusted capitalization and its fixed charge coverage ratio for 2003 was 4.06.", + "As of December 31, 2003, Entergy Louisiana had future minimum lease payments (reflecting an overall implicit rate of 7.45%) in connection with the Waterford 3 sale and leaseback transactions, which are recorded as long-term debt, as follows:", + "||(In Thousands)|\n|2004|$31,739|\n|2005|14,554|\n|2006|18,262|\n|2007|18,754|\n|2008|22,606|\n|Years thereafter|366,514|\n|Total|472,429|\n|Less: Amount representing interest|209,895|\n|Present value of net minimum lease payments|$262,534|\n", + "Grand Gulf 1 Lease Obligations In December 1988, System Energy sold 11.5% of its undivided ownership interest in Grand Gulf 1 for the aggregate sum of $500 million.", + "Subsequently, System Energy leased back its interest in the unit for a term of 26-1/2 years.", + "System Energy has the option of terminating the lease and repurchasing the 11.5% interest in the unit at certain intervals during the lease.", + "Furthermore, at the end of the lease term, System Energy has the option of renewing the lease or repurchasing the 11.5% interest in Grand Gulf 1.", + "System Energy is required to report the sale-leaseback as a financing transaction in its financial statements.", + "For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant", + "Item 6.", + "Selected Financial Data(1) (In thousands of dollars, except per share data)", + "| |2002-2| 2001| 2000| 1999| 1998|\n|Consolidated Statement of Operations Data:|||||\n|Net sales|$3,204,256|$3,067,482|$3,067,714|$2,931,853|$2,580,207|\n|Gross profit|1,057,613|990,287|1,035,304|1,028,722|868,736|\n|Operating profit-3|516,386|387,391|468,463|452,192|259,332|\n|(Loss) earnings before income taxes|-391,933|297,452|413,429|395,653|198,947|\n|Net (loss) earnings|-309,069|156,697|225,319|211,461|73,007|\n|Series A convertible preferred stock dividends-4|53,845|55,024|64,266|71,422|53,921|\n|(Loss) earnings per common share(5)||||||\n|Basic|$-4.20|$1.30|$2.47|$1.69|$0.04|\n|Diluted|$-4.30|$1.22|$1.93|$1.68|$0.02|\n| Consolidated Balance Sheet Data:||||||\n|Working capital (net liability) net asset(6)|$-96,496|$149,372|$202,512|$221,130|$309,624|\n|Total assets-6|4,260,766|3,907,909|4,090,882|3,887,583|4,066,982|\n|Long-term debt, less current portion-6|868,030|788,111|944,453|665,116|996,526|\n|Series A convertible preferred stock-4|1,327,005|1,366,154|1,392,373|1,761,662|1,791,093|\n|Total shareholders' equity|$812,960|$850,152|$753,129|$551,030|$437,045|\n| Other Data:||||||\n|EBIT-7|$-326,618|$373,850|$477,942|$453,779|$252,576|\n|Depreciation and amortization-3|164,955|220,616|219,641|223,399|195,954|\n|EBITDA-7|-161,663|594,466|697,583|677,178|448,530|\n|Capital expenditures|$91,625|$146,277|$114,197|$75,080|$82,408|\n", + "(1) The Selected Financial Data include the operations of the Cryovac packaging business (\u2018\u2018Cryovac\u2019\u2019) for all periods presented.", + "The operating results, cash flows, assets and liabilities of old Sealed Air are included for all periods subsequent to March 31, 1998, the date of the Cryovac Transaction.", + "See Note 18 to the Consolidated Financial Statements.", + "(2) In November 2002, the Company reached an agreement in principle with the appropriate parties to resolve all current and future asbestos-related claims made against it and its affiliates in connection with the Cryovac Transaction.", + "The settlement will also resolve the fraudulent transfer claims, as well as indemnification claims by Fresenius Medical Care Holdings, Inc. and affiliated companies, made against the Company in connection with the Cryovac Transaction.", + "Due to the above settlement, the Company recorded a pre-tax charge of $850,118 in the consolidated statement of operations in 2002, which resulted in the Company\u2019s net loss for the year ended December 31, 2002.", + "See Note 18 to the Consolidated Financial Statements.", + "(3) Beginning January 1, 2002, in accordance with Statement of Financial Accounting Standards No.142, the Company ceased recording amortization expense related to goodwill.", + "Goodwill amortization expense was $57,005 in 2001, $51,776 in 2000, $49,404 in 1999 and $36,062 in 1998.", + "See Note 19 to the Consolidated Financial Statements.", + "(4) The Series A convertible preferred stock pays a cash dividend at an annual rate of $2.00 per share, payable quarterly in arrears when and as declared by the Board of Directors, and is subject to mandatory redemption on March 31, 2018 at $50.00 per share, plus any accrued and unpaid dividends, to the extent that it then remains outstanding.", + "Dividends of $0.50 per share have been declared and paid for each quarter since July 1, 1998.", + "The following table shows our total cash dividends paid each year since we initiated quarterly cash dividend payments in 2006.", + "||| Total Cash |\n|| Total Cash Dividends Paid (In millions)| Dividends Paid per |\n|| Common Share|\n|2006|$48.6|$0.30|\n|2007|64.6|0.40|\n|2008|76.4|0.48|\n|2009|75.7|0.48|\n|2010|79.7|0.50|\n|Total|$345.0||\n", + "On February 17, 2011, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on March 18, 2011 to stockholders of record at the close of business on March 4, 2011.", + "The estimated amount of this dividend payment is $21 million based on 159 million shares of our common stock issued and outstanding as of January 31, 2011.", + "The dividend payments discussed above are recorded as reductions to cash and cash equivalents and retained earnings on our consolidated balance sheets.", + "From time to time, we may consider other means of returning value to our stockholders based on our consolidated financial position and results of operations.", + "There is no guarantee that our Board of Directors will declare any further dividends.", + "Common Stock Performance Comparisons The following graph shows, for the five years ended December 31, 2010, the cumulative total return on an investment of $100 assumed to have been made on December 31, 2005 in our common stock.", + "The graph compares this return (\u201cSEE\u201d) with that of comparable investments assumed to have been made on the same date in: (a) the Standard & Poor\u2019s 500 Stock Index (\u201cComposite S&P 500\u201d); (b) a prior self-constructed peer group (\u201cPeer Group 1\u201d) and (c) an updated self-constructed peer group (\u201cPeer Group 2\u201d).", + "The prior Peer Group 1 includes us and the following other companies: Aptar Group Inc. ; Avery Dennison Corporation; Ball Corporation; Bemis Company, Inc. ; Crown Holdings, Inc. ; MeadWestvaco Corporation; Pactiv Corporation (for 2005 through 2009); Rexam PLC; Silgan Holdings Inc. ; Sonoco Products Co. ; and Spartech Corporation.", + "In 2010, we revised our peer group and designated it Peer Group 2, which will replace Peer Group 1 beginning January 1, 2011.", + "We decided to utilize Peer Group 2 rather than Peer Group 1 because we believe that Peer Group 2 more closely represents public companies in packaging and related industries that are comparable to us based on sales, total assets, numbers of employees and market capitalization.", + "Further, the Organization and Compensation Committee of our Board of Directors, or Compensation Committee, will use this peer group to benchmark executive compensation going forward.", + "The updated Peer Group 2 includes us and the following companies: Avery Dennison Corporation; Ball Corporation; Bemis Company, Inc. ; Crown Holdings, Inc. ; Greif, Inc. ; MeadWestvaco Corporation; Owens-Illinois, Inc. ; Packaging Corporation of America; Pactiv Corporation (for 2005 through 2009); Rock-Tenn Company; Rockwood Holdings Inc. ; Silgan Holdings Inc. ; Sonoco Products Co. ; and Temple-Inland, Inc. Pactiv Corporation is included in both peer groups only in the periods 2005 through 2009.", + "Pactiv was acquired on November 16, 2010 and concurrently delisted as a public company.", + "Prior to performing the step one interim impairment test, we first evaluated the indefinite lived intangible assets allocated to the I&L and Hygiene Solutions reporting units.", + "On an annual basis, or when indicators of impairment are present, we determine the fair value of the indefinite lived assets and compare them to their carrying values.", + "We estimate the fair value of these assets using a relief from royalty method under an income approach.", + "Based on our analysis, the fair values of certain indefinite lived trademarks were lower than their carrying values.", + "As a result, we recorded a pre-tax impairment charge of $441 million in the fourth quarter of 2012, which is included in impairment of goodwill and other intangible assets in the consolidated statements of operations and reflected in the F&B ($140 million) and I&L ($301 million) segments.", + "We also evaluated the recoverability of long lived assets of these reporting units.", + "When indicators of impairment are present, we test definite lived and long lived assets for recoverability by comparing the carrying value of an asset group to their undiscounted cash flows.", + "We considered the lower than expected revenue and profitability levels over a sustained period of time, and downward revisions to our cash flow forecasts for a portion of these reporting units to be indicators of impairment for their long-lived assets.", + "Based on the results of the recoverability test, we determined that the carrying value of certain asset groups of the Hygiene Solutions reporting unit were higher than their undiscounted cash flow.", + "We then looked at specific long-lived assets in those asset groups and determined that the carrying value of the customer relationships intangible assets exceeded their fair value.", + "We estimated the fair value of those assets, primarily using the excess earnings method under an income approach.", + "The key assumptions for this method are a projection of future revenue and profitability as determined by management, the expected survivorship and discount rate, established as discussed above.", + "As a result, we recorded a pre-tax impairment charge of $149 million in the fourth quarter of 2012, which is included in the impairment of goodwill and other intangible assets in the consolidated statement of operations and reflected in the F&B segment.", + "We also completed steps one and two of the interim goodwill impairment test for these reporting units.", + "As a result, in the fourth quarter of 2012, we recorded an additional goodwill impairment charge for the Hygiene Solutions reporting unit of $174 million and $97 million for the I&L reporting unit, which is included in impairment of goodwill and other intangible assets in the consolidated statements of operations.", + "Allocation of Goodwill to Reporting Units Due to the changes in our segment reporting structure during the fourth quarter of 2012, we reassigned goodwill to our new reporting units using a relative fair value approach.", + "Goodwill of the F&B segment combines goodwill of two reporting units: Packaging Solutions, which includes former legacy Sealed Air\u2019s Food Packaging and Food Solutions packaging reporting units, and Hygiene Solutions, which was previously reported in the legacy\u0002Diversey segment.", + "Goodwill of the I&L segment also includes a portion of the goodwill previously reported in the legacy-Diversey segment.", + "Goodwill of the Protective Packaging segment combines goodwill of the former legacy Sealed Air\u2019s Protective Packaging and Shrink Packaging reporting units and the specialty foam business of the former Specialty Materials reporting unit.", + "The goodwill of the Other category is represented by the goodwill of the Medical Applications reporting unit.", + "The following table shows our goodwill balances by our new segment reporting structure:" + ], + "question_id": "simplong-test-357", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average growth rate of Attritional for current year between 2015 and 2016? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Development of prior year incurred losses was $135.6 million unfavorable in 2006, $26.4 million favorable in 2005 and $249.4 million unfavorable in 2004.", + "Such losses were the result of the reserve development noted above, as well as inher\u0002ent uncertainty in establishing loss and LAE reserves.", + "Reserves for Asbestos and Environmental Losses and Loss Adjustment Expenses As of year end 2006, 7.4% of reserves reflect an estimate for the Company\u2019s ultimate liability for A&E claims for which ulti\u0002mate value cannot be estimated using traditional reserving techniques.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u2014Asbestos and Environmental Exposures\u201d and Note 3 of Notes to Consolidated Financial Statements.", + "Mt.", + "McKinley\u2019s book of direct A&E exposed insurance is relatively small and homogenous.", + "It also arises from a limited period, effective 1978 to 1984.", + "The book is based principally on excess liability policies, thereby limiting exposure analysis to a lim\u0002ited number of policies and forms.", + "As a result of this focused structure, the Company believes that it is able to comprehen\u0002sively analyze its exposures, allowing it to identify, analyze and actively monitor those claims which have unusual exposure, including policies in which it may be exposed to pay expenses in addition to policy limits or non-products asbestos claims.", + "The Company endeavors to be actively engaged with every insured account posing significant potential asbestos exposure to Mt.", + "McKinley.", + "Such engagement can take the form of pursuing a final settlement, negotiation, litigation, or the monitoring of claim activity under Settlement in Place (\u201cSIP\u201d) agreements.", + "SIP agreements generally condition an insurer\u2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer\u2019s payments.", + "The Company\u2019s Mt.", + "McKinley operation is currently managing eight SIP agreements, three of which were executed prior to the acquisition of Mt.", + "McKinley in 2000.", + "The Company\u2019s preference with respect to coverage settlements is to exe\u0002cute settlements that call for a fixed schedule of payments, because such settlements eliminate future uncertainty.", + "The Company has significantly enhanced its classification of insureds by exposure characteristics over time, as well as its analysis by insured for those it considers to be more exposed or active.", + "Those insureds identified as relatively less exposed or active are subject to less rigorous, but still active management, with an emphasis on monitoring those characteristics, which may indicate an increasing exposure or levels of activity.", + "The Company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders, including those that may not have reported significant A&E losses.", + "Everest Re\u2019s book of assumed reinsurance is relatively concentrated within a modest number of A&E exposed relationships.", + "It also arises from a limited period, effectively 1977 to 1984.", + "Because the book of business is relatively concentrated and the Company has been managing the A&E exposures for many years, its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities.", + "The Company\u2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies.", + "This level of familiarity enhances the quality of the Company\u2019s analysis of its exposure through those companies.", + "As a result, the Company believes that it can identify those claims on which it has unusual exposure, such as non-products asbestos claims, for concentrated attention.", + "However, in setting reserves for its reinsurance liabilities, the Company relies on claims data supplied, both formally and informally by its ceding companies and brokers.", + "This furnished information is not always timely or accurate and can impact the accuracy and timeli\u0002ness of the Company\u2019s ultimate loss projections.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the years ended December 31:", + "|(Dollars in millions)|2006|2005|2004|\n|Case reserves reported by ceding companies|$135.6|$125.2|$148.5|\n|Additional case reserves established by the Company (assumed reinsurance) (1)|152.1|157.6|151.3|\n|Case reserves established by the Company (direct insurance)|213.7|243.5|272.1|\n|Incurred but not reported reserves|148.7|123.3|156.4|\n|Gross reserves|650.1|649.6|728.3|\n|Reinsurance receivable|-138.7|-199.1|-221.6|\n|Net reserves|$511.4|$450.5|$506.7|\n", + "(1) Additional reserves are case specific reserves determined by the Company to be needed over and above those reported by the ceding company", + "Incurred Losses and LAE.", + "The following table presents the incurred losses and LAE for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|\n|(Dollars in millions)|Current Year|Ratio %/ Pt Change|Prior Years|Ratio %/ Pt Change|Total Incurred|Ratio %/ Pt Change|\n|2016||||||||||\n|Attritional|$899.9|69.7%||$173.6|13.4%||$1,073.5|83.1%||\n|Catastrophes|49.4|3.8%||-0.2|0.0%||49.2|3.8%||\n|Total segment|$949.3|73.5%||$173.4|13.4%||$1,122.7|86.9%||\n|2015||||||||||\n|Attritional|$881.2|69.6%||$152.1|12.0%||$1,033.2|81.6%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$881.2|69.6%||$152.2|12.0%||$1,033.3|81.6%||\n|2014||||||||||\n|Attritional|$786.5|76.4%||$24.9|2.4%||$811.3|78.8%||\n|Catastrophes|-|0.0%||0.1|0.0%||0.1|0.0%||\n|Total segment|$786.5|76.4%||$25.0|2.4%||$811.4|78.8%||\n|Variance 2016/2015||||||||||\n|Attritional|$18.7|0.1|pts|$21.5|1.4|pts|$40.3|1.5|pts|\n|Catastrophes|49.4|3.8|pts|-0.3|-|pts|$49.1|3.8|pts|\n|Total segment|$68.1|3.9|pts|$21.2|1.4|pts|$89.4|5.3|pts|\n|Variance 2015/2014||||||||||\n|Attritional|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|Catastrophes|-|-|pts|-|-|pts|-|-|pts|\n|Total segment|$94.7|-6.8|pts|$127.2|9.6|pts|$221.9|2.8|pts|\n|(Some amounts may not reconcile due to rounding.)|||||||||\n", + "Incurred losses and LAE increased by 8.7% to $1,122.7 million in 2016 compared to $1,033.3 million in 2015 mainly due to an increase of $49.4 million in current year catastrophe losses, an increase of $21.5 million in prior years\u2019 attritional losses mainly related to run-off construction liability and umbrella program business and an increase of $18.7 million in current year attritional losses primarily related to the impact of the increase in premiums earned.", + "The $49.4 million of current year catastrophe losses in 2016 were due to the 2016 U. S. storms ($30.0 million), Hurricane Matthew ($11.0 million) and the Fort McMurray Canada wildfire ($8.4 million).", + "There were no current year catastrophe losses in 2015.", + "Incurred losses and LAE increased by 27.3% to $1,033.3 million in 2015 compared to $811.4 million in 2014, mainly due to an increase of $127.2 million in prior years\u2019 attritional losses related to run-off umbrella program and construction liability business and an increase of $94.7 million in current year attritional losses related primarily to the impact of the increase in premiums earned.", + "There were no current year catastrophe losses in 2015 and 2014.", + "Segment Expenses.", + "Commission and brokerage increased by 16.5% to $205.3 million in 2016 compared to $176.2 million in 2015.", + "The increase was mainly due to the impact of the increase in premiums earned and changes in the mix of business.", + "Segment other underwriting expenses increased to $176.8 million in 2016 compared to $136.7 million in 2015.", + "The increase was primarily due to increased expenses due to the build out of our insurance platform.", + "Commission and brokerage increased by 17.7% to $176.2 million in 2015 compared to $149.8 million in 2014.", + "The increase was primarily driven by the impact of the increase in premiums earned and the change in the mix of business.", + "Segment other underwriting expenses increased to $136.7 million in 2015 compared to $118.0 million in 2014.", + "The increase was primarily due to the impact of the increase in premiums earned and increased focus on insurance operations resulting in increased operating expenses, including new hires.", + "properly allocating responsibility and/or liability for asbestos or environmental damage; (d) changes in underlying laws and judicial interpretation of those laws; (e) the potential for an asbestos or environmental claim to involve many insurance providers over many policy periods; (f) questions concerning interpretation and application of insurance and reinsurance coverage; and (g) uncertainty regarding the number and identity of insureds with potential asbestos or environmental exposure.", + "Due to the uncertainties discussed above, the ultimate losses attributable to A&E, and particularly asbestos, may be subject to more variability than are non-A&E reserves and such variation could have a material adverse effect on our financial condition, results of operations and/or cash flows.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Notes 1 and 3 of Notes to the Consolidated Financial Statements.", + "Reinsurance Receivables.", + "We have purchased reinsurance to reduce our exposure to adverse claim experience, large claims and catastrophic loss occurrences.", + "Our ceded reinsurance provides for recovery from reinsurers of a portion of losses and loss expenses under certain circumstances.", + "Such reinsurance does not relieve us of our obligation to our policyholders.", + "In the event our reinsurers are unable to meet their obligations under these agreements or are able to successfully challenge losses ceded by us under the contracts, we will not be able to realize the full value of the reinsurance receivable balance.", + "To minimize exposure from uncollectible reinsurance receivables, we have a reinsurance security committee that evaluates the financial strength of each reinsurer prior to our entering into a reinsurance arrangement.", + "In some cases, we may hold full or partial collateral for the receivable, including letters of credit, trust assets and cash.", + "Additionally, creditworthy foreign reinsurers of business written in the U. S. , as well as capital markets\u2019 reinsurance mechanisms, are generally required to secure their obligations.", + "We have established reserves for uncollectible balances based on our assessment of the collectability of the outstanding balances.", + "As of December 31, 2016 and 2015, the reserve for uncollectible balances was $15.0 million.", + "Actual uncollectible amounts may vary, perhaps substantially, from such reserves, impacting income (loss) in the period in which the change in reserves is made.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 11 of Notes to the Consolidated Financial Statements and \u201cFinancial Condition \u2013 Reinsurance Receivables\u201d below.", + "Premiums Written and Earned.", + "Premiums written by us are earned ratably over the coverage periods of the related insurance and reinsurance contracts.", + "We establish unearned premium reserves to cover the unexpired portion of each contract.", + "Such reserves, for assumed reinsurance, are computed using pro rata methods based on statistical data received from ceding companies.", + "Premiums earned, and the related costs, which have not yet been reported to us, are estimated and accrued.", + "Because of the inherent lag in the reporting of written and earned premiums by our ceding companies, we use standard accepted actuarial methodologies to estimate earned but not reported premium at each financial reporting date.", + "These earned but not reported premiums are combined with reported earned premiums to comprise our total premiums earned for determination of our incurred losses and loss and LAE reserves.", + "Commission expense and incurred losses related to the change in earned but not reported premium are included in current period company and segment financial results.", + "See also ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1 of Notes to the Consolidated Financial Statements.", + "The following table displays the estimated components of net earned but not reported premiums by segment for the periods indicated.", + "||At December 31,|\n|(Dollars in millions)|2016|2015|2014|\n|U.S. Reinsurance|$385.5|$372.5|$388.3|\n|International|235.4|243.9|239.8|\n|Bermuda|258.4|253.4|208.4|\n|Total|$879.3|$869.8|$836.5|\n|(Some amounts may not reconcile due to rounding.)||||\n" + ], + "question_id": "simplong-test-358", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Mutual funds, what is the growth rate of Equity products?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "In 2017, the company granted 440,076 shares of restricted Class A common stock and 7,568 shares of restricted stock units.", + "Restricted common stock and restricted stock units generally have a vesting period of two to four years.", + "The fair value related to these grants was $58.7 million, which is recognized as compensation expense on an accelerated basis over the vesting period.", + "Dividends are accrued on restricted Class A common stock and restricted stock units and are paid once the restricted stock vests.", + "In 2017, the company also granted 203,298 performance shares.", + "The fair value related to these grants was $25.3 million, which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period.", + "The vesting of these shares is contingent on meeting stated performance or market conditions.", + "The following table summarizes restricted stock, restricted stock units, and performance shares activity for 2017:", + "||Number of Shares|WeightedAverageGrant DateFair Value|\n|Outstanding at December 31, 2016|1,820,578|$98|\n|Granted|650,942|129|\n|Vested|-510,590|87|\n|Cancelled|-401,699|95|\n|Outstanding at December 31, 2017|1,559,231|116|\n", + "The total fair value of restricted stock, restricted stock units, and performance shares that vested during 2017, 2016 and 2015 was $66.0 million, $59.8 million and $43.3 million, respectively.", + "Under the ESPP, eligible employees may acquire shares of Class A common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration.", + "Shares are purchased at the end of each offering period at a price of 90% of the closing price of the Class A common stock as reported on the NASDAQ Global Select Market.", + "Compensation expense is recognized on the dates of purchase for the discount from the closing price.", + "In 2017, 2016 and 2015, a total of 19,936, 19,858 and 19,756 shares, respectively, of Class A common stock were issued to participating employees.", + "These shares are subject to a six-month holding period.", + "Annual expense of $0.3 million for the purchase discount was recognized in 2017, and $0.2 million was recognized in both 2016 and 2015.", + "Non-executive directors receive an annual award of Class A common stock with a value equal to $100,000.", + "Non-executive directors may also elect to receive some or all of the cash portion of their annual stipend, up to $60,000, in shares of stock based on the closing price at the date of distribution.", + "As a result, 19,736 shares, 26,439 shares and 25,853 shares of Class A common stock were issued to non-executive directors during 2017, 2016 and 2015, respectively.", + "These shares are not subject to any vesting restrictions.", + "Expense of $2.5 million, $2.4 million and $2.5 million related to these stock-based payments was recognized for the years ended December 31, 2017, 2016 and 2015, respectively.", + "Income Taxes The Company utilizes the asset and liability approach defined in SFAS No.109, \u201cAccounting for Income Taxes\u201d, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement amounts and the tax bases of assets and liabilities.", + "Earnings per Share (\u201cEPS\u201d) Basic EPS is calculated by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding.", + "Diluted EPS is similar to basic EPS, but adjusts for the effect of the potential issuance of common shares by application of the treasury stock method.", + "Reclassifications Certain revisions and reclassifications have been made to the consolidated financial statements of the prior years to conform to the current year presentation.", + "As a result, Financial Service Fees revenue and Investment Advisory Fees expense increased by approximately $12.8 million and $11.2 million, respectively, for the years ended September 30, 2006 and 2005.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "The Company also reclassified certain amounts from cash to segregated assets and reverse repurchase agreements on its 2006 and 2005 Consolidated Statements of Financial Condition and related cash flow activity on its 2006 and 2005 Consolidated Statements of Cash Flows.", + "For fiscal year 2006, $176.8 million was reclassified from cash to segregated assets and $72.5 million was reclassified from cash to securities purchased under agreements to resell.", + "For fiscal year 2005, $146.4 million was reclassified from cash to segregated assets and $137.3 million was reclassified from cash to securities purchased under agreements to resell.", + "These revisions did not impact the Company\u2019s net income for the years ended September 30, 2006 and 2005.", + "In the quarter ended September 30, 2007, a new segment was established: Proprietary Capital.", + "The components of this segment were previously included in the Asset Management and Other segments.", + "Reclassifications have been made in the segment disclosure for previous years to conform to this presentation.", + "Additional information is provided in Note 22 below.", + "NOTE 2 \u2013 TRADING INSTRUMENTS AND TRADING INSTRUMENTS SOLD BUT NOT YET PURCHASED:", + "||September 30, 2007|September 30, 2006|\n||Trading Instruments|Instruments Sold but Not Yet Purchased|Trading Instruments|Instruments Sold but Not Yet Purchased|\n||(in 000's)|\n|Marketable:|||||\n|Municipal Obligations|$ 200,024|$ 54|$ 192,028|$ 5|\n|Corporate Obligations|56,069|952|134,431|968|\n|Government Obligations|83,322|45,275|37,793|31,636|\n|Agencies|47,123|60,829|68,380|34,023|\n|Total Debt Securities|386,538|107,110|432,632|66,632|\n|Derivative Contracts|30,603|8,445|20,904|8,309|\n|Equity Securities|46,913|34,174|29,532|19,068|\n|Other Securities|3,707|-|2,703|-|\n|Total|$ 467,761|$ 149,729|$ 485,771|$ 94,009|\n", + "Mortgage backed securities of $48.9 million and $77.1 million at September 30, 2007 and September 30, 2006, respectively, are included in Corporate Obligations and Agencies in the table above.", + "Mortgage backed securities sold but not yet purchased of $60.8 million and $34 million at September 30, 2007 and September 30, 2006, respectively, are included in Agencies in the table above.", + "Net unrealized (losses) gains related to open trading positions at September 30, 2007, September 30, 2006, and September 30, 2005 were $(726,000), $4,387,000, and $(1,257,000), respectively.", + "NOTE 3 - AVAILABLE FOR SALE SECURITIES: Available for sale securities are comprised primarily of CMOs, mortgage related debt, and certain equity securities of the Company's non-broker-dealer subsidiaries, principally RJBank.", + "There were proceeds from the sale of available for sale securities of $81,000 for the year ended September 30, 2007, $252,000 for the year ended September 30, 2006 and $9,250,000 for the year ended September 30, 2005.", + "The realized gains and losses related to the sale of available for sale securities were immaterial to the consolidated financial statements for all years presented.", + "NOTE 15 - CAPITAL TRANSACTIONS: The following table presents information on a monthly basis for purchases of the Company\u2019s stock for the quarter ended September 30, 2007:", + "|Period|Number of Shares Purchased -1|Average Price Per Share|\n|July 1, 2007 \u2013 July 31, 2007|-|$ -|\n|August 1, 2007 \u2013 August 31, 2007|-|-|\n|September 1, 2007 \u2013 September 30, 2007|1,548|33.64|\n|Total|1,548|$33.64|\n", + "(1) The Company does not have a formal stock repurchase plan.", + "Shares are repurchased at the discretion of management pursuant to prior authorization from the Board of Directors.", + "On May 20, 2004, the Board of Directors authorized purchases of up to $75 million.", + "Since that date 461,500 shares have been repurchased for a total of $9.6 million, leaving $65.4 million available to repurchase shares.", + "Historically the Company has considered such purchases when the price of its stock approaches 1.5 times book value or when employees surrender shares as payment for option exercises.", + "The decision to repurchase shares is subject to cash availability and other factors.", + "During 2007 and 2006, 69,986 and 189,664 shares were repurchased at an average price of $31.54 and $28.97, respectively.", + "During the three months ended December 31, 2006, 42,618 shares were purchased for the trust fund that was established and funded to acquire Company common stock in the open market to be used to settle restricted stock units granted as a retention vehicle for certain employees of the Company\u2019s wholly owned Canadian subsidiary (see Note 17 below for more information on this trust fund).", + "With the exception of the shares purchased through this trust fund, the Company only purchased shares during the balance of the year that were surrendered by employees as a payment for option exercises.", + "NOTE 16 - OTHER COMPREHENSIVE INCOME: The activity in other comprehensive income and related tax effects are as follows:", + "||September 30, 2007|September 30, 2006|September 30, 2005|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Available for Sale Securities, Net of||||\n|Tax Effect Of -$1,217 in 2007, $129 in 2006, and $51 in 2005|$ -2,150|$ 217|$ 79|\n|Net Unrealized Gain on Interest Rate Swaps Accounted for as Cash Flow||||\n|Hedges, Net of Tax Effect of $0 in 2007, $28 in 2006, and||||\n|$566 in 2005|-|44|882|\n|Net Change in Currency Translations, Net of Tax Effect of $11,463 in||||\n|2007, $1,312 in 2006, and $3,078 in 2005|20,246|2,202|4,796|\n|Other Comprehensive Income|$ 18,096|$ 2,463|$ 5,757|\n", + "The components of accumulated other comprehensive income, net of income taxes:", + "||September 30, 2007|September 30, 2006|\n||(in 000's)|\n|Net Unrealized (Loss) Gain on Securities Available for Sale, Net of Tax Effect of ($998) in 2007|||\n|and $245 in 2006|$ -1,747|$ 403|\n|Net Currency Translations, Net of Tax Effect of $18,593 in 2007 and $7,285 in 2006|31,938|11,692|\n|Accumulated Other Comprehensive Income|$ 30,191|$ 12,095|\n", + "NOTE 17 - EMPLOYEE BENEFIT PLANS: The Company's profit sharing plan and employee stock ownership plan provide certain death, disability or retirement benefits for all employees who meet certain service requirements.", + "The plans are noncontributory.", + "Contributions by the Company, if any, are determined annually by the Company\u2019s Board of Directors on a discretionary basis and are recognized as compensation cost throughout the year.", + "Benefits become fully vested after seven years of qualified service.", + "All shares owned by the ESOP are included in earnings per share calculations.", + "Cash dividends paid to the ESOP are reflected as a reduction of", + "RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES Management's Discussion and Analysis 41 periods where equity markets improve, assets under administration and client activity generally increase, thereby having a favorable impact on net revenues.", + "We also earn certain servicing fees, such as omnibus and education and marketing support (\u201cEMS\u201d) fees from mutual fund and annuity companies whose products we distribute, and from banks to which we sweep client cash in the RJBDP.", + "Such fees are included in \u201cAccount and service fees.", + "\u201d Servicing fees earned by mutual fund and annuity companies are generally based on the level of assets or number of positions in such programs.", + "Fees earned from our RJBDP are generally based on client cash balances in the program, as well as the level of short-term interest rates relative to interest paid to clients on balances in the RJBDP.", + "Net interest revenue in the PCG segment is generated by interest earnings on margin loans provided to clients and on cash segregated pursuant to regulations, less interest paid on client cash balances.", + "Higher client cash balances generally lead to increased interest income, depending on spreads realized in our client interest program.", + "For more information on client cash balances, see our previous discussion of interest-earning assets and interest-bearing liabilities in the Net interest analysis section of this MD&A.", + "For an overview of our PCG segment operations, refer to the information presented in Item 1 \u201cBusiness\u201d of this Form 10-K. Operating results", + "||Year ended September 30,|% change|\n|$ in thousands|2018|2017|2016|2018 vs. 2017|2017 vs. 2016|\n|Revenues:||||||\n|Securities commissions and fees:||||||\n|Fee-based accounts|$2,540,336|$2,040,839|$1,589,124|24%|28%|\n|Mutual funds|641,603|646,614|631,102|-1%|2%|\n|Insurance and annuity products|413,591|385,493|377,329|7%|2%|\n|Equity products|325,514|303,015|240,855|7%|26%|\n|Fixed income products|112,509|118,062|95,908|-5%|23%|\n|New issue sales credits|47,200|72,281|44,088|-35%|64%|\n|Subtotal securities commissions and fees|4,080,753|3,566,304|2,978,406|14%|20%|\n|Interest income|193,105|152,711|107,281|26%|42%|\n|Account and service fees:||||||\n|Mutual fund and annuity service fees|331,543|290,661|255,405|14%|14%|\n|RJBDP fees - third-party banks|262,424|202,049|92,315|30%|119%|\n|Affiliate deposit account servicing fees from RJ Bank|91,720|67,981|43,145|35%|58%|\n|Client account and service fees|95,794|98,500|95,010|-3%|4%|\n|Client transaction fees and other|22,658|25,103|23,156|-10%|8%|\n|Subtotal account and service fees|804,139|684,294|509,031|18%|34%|\n|Other|42,834|34,279|32,000|25%|7%|\n|Total revenues|5,120,831|4,437,588|3,626,718|15%|22%|\n|Interest expense|-27,801|-15,955|-10,239|74%|56%|\n|Net revenues|5,093,030|4,421,633|3,616,479|15%|22%|\n|Non-interest expenses:||||||\n|Sales commissions|3,050,539|2,653,287|2,193,099|15%|21%|\n|Admin & incentive compensation and benefit costs|835,662|713,043|595,541|17%|20%|\n|Communications and information processing|234,300|193,902|166,507|21%|16%|\n|Occupancy and equipment costs|154,020|146,394|125,555|5%|17%|\n|Business development|115,056|98,138|88,535|17%|11%|\n|Jay Peak matter|\u2014|130,000|20,000|-100%|550%|\n|Other|127,359|113,919|86,678|12%|31%|\n|Total non-interest expenses|4,516,936|4,048,683|3,275,915|12%|24%|\n|Pre-tax income|$576,094|$372,950|$340,564|54%|10%|\n" + ], + "question_id": "simplong-test-359", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Investments of consolidated investment products of 2010, and California of Number ofCustomers ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PART I ITEM 1. BUSINESS Our Company Founded in 1886, American Water Works Company, Inc. , (the \u201cCompany,\u201d \u201cAmerican Water\u201d or \u201cAWW\u201d) is a Delaware holding company.", + "American Water is the most geographically diversified, as well as the largest publicly-traded, United States water and wastewater utility company, as measured by both operating revenues and population served.", + "As a holding company, we conduct substantially all of our business operations through our subsidiaries.", + "Our approximately 6,400 employees provide an estimated 15 million people with drinking water, wastewater and/or other water-related services in 47 states and one Canadian province.", + "Operating Segments We report our results of operations in two operating segments: the Regulated Businesses and the Market\u0002Based Operations.", + "Additional information with respect to our operating segment results is included in the section entitled \u201cItem 7\u2014Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d and Note 18 of the Consolidated Financial Statements.", + "Regulated Businesses Our primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.", + "We report the results of this business in our Regulated Businesses segment.", + "Our subsidiaries that provide these services are generally subject to economic regulation by certain state commissions or other entities engaged in economic regulation, hereafter referred to as Public Utility Commissions, or \u201cPUCs,\u201d of the states in which we operate.", + "The federal and state governments also regulate environmental, health and safety, and water quality matters.", + "Our Regulated Businesses segment operating revenues were $2,674.3 million for 2014, $2,539.9 for 2013, $2,564.4 million for 2012, accounting for 88.8%, 90.1% and 89.9%, respectively, of total operating revenues for the same periods.", + "The following table sets forth our Regulated Businesses operating revenues, number of customers and an estimate of population served as of December 31, 2014:", + "||OperatingRevenues(In millions)|% of Total|Number ofCustomers|% of Total|EstimatedPopulationServed(In millions)|% of Total|\n|New Jersey|$652.3|24.5%|648,066|20.2%|2.7|22.7%|\n|Pennsylvania|605.4|22.6%|666,415|20.7%|2.2|18.5%|\n|Missouri|270.2|10.1%|464,498|14.4%|1.5|12.7%|\n|Illinois (a)|262.3|9.8%|312,017|9.7%|1.3|10.9%|\n|California|209.8|7.8%|174,198|5.4%|0.6|5.0%|\n|Indiana|200.6|7.5%|293,666|9.1%|1.2|10.1%|\n|West Virginia (b)|127.0|4.7%|170,371|5.3%|0.6|5.0%|\n|Subtotal (Top Seven States)|2,327.6|87.0%|2,729,231|84.8%|10.1|84.9%|\n|Other (c)|346.7|13.0%|489,961|15.2%|1.8|15.1%|\n|Total Regulated Businesses|$2,674.3|100.0%|3,219,192|100.0%|11.9|100.0%|\n", + "(a) Includes Illinois-American Water Company, which we refer to as ILAWC and American Lake Water Company, also a regulated subsidiary in Illinois.", + "The company\u2019s Condensed Consolidated Statement of Changes in Equity in Part II, Item 8, Financial Statements and Supplementary Data, contains a detailed analysis of the changes in balance sheet equity line items.", + "The following table presents a comparative analysis of significant detailed balance sheet assets and liabilities:", + "|$ in millions|2011|2010|$ Change|% Change|\n|Cash and cash equivalents|727.4|740.5|-13.1|-1.8%|\n|Unsettled fund receivables|444.4|513.4|-69.0|-13.4%|\n|Current investments|283.7|308.8|-25.1|-8.1%|\n|Assets held for policyholders|1,243.5|1,295.4|-51.9|-4.0%|\n|Non-current investments|200.8|164.4|36.4|22.1%|\n|Investments of consolidated investment products|6,629.0|7,206.0|-577.0|-8.0%|\n|Intangible assets, net|1,322.8|1,337.2|-14.4|-1.1%|\n|Goodwill|6,907.9|6,980.2|-72.3|-1.0%|\n|Unsettled fund payables|439.6|504.8|-65.2|-12.9%|\n|Policyholder payables|1,243.5|1,295.4|-51.9|-4.0%|\n|Current maturities of total debt|215.1|\u2014|215.1|N/A|\n|Long-term debt|1,069.6|1,315.7|-246.1|-18.7%|\n|Long-term debt of consolidated investment products|5,512.9|5,865.4|-352.5|-6.0%|\n", + "Cash and cash equivalents Cash and cash equivalents decreased by $13.1 million from $740.5 million at December 31, 2010 to $727.4 million at December 31, 2011.", + "See \u201cCash Flows\u201d in the following section within this Management's Discussion and Analysis for additional discussion regarding the movements in cash flows during the periods.", + "See Item 8, Financial Statements and Supplementary Data - Note 1, \u201cAccounting Policies - Cash and Cash Equivalents,\u201d regarding requirements to mandate the retention of liquid resources in certain jurisdictions.", + "Unsettled fund receivables and payables Unsettled fund receivables decreased by $69.0 million from $513.4 million at December 31, 2010 to $444.4 million at December 31, 2011, due primarily to lower transaction activity between funds and investors in late December 2011 when compared to late December 2010 in our offshore funds.", + "In the company's capacity as sponsor of UITs, the company records receivables from brokers, dealers, and clearing organizations for unsettled sell trades of securities and UITs in addition to receivables from customers for unsettled sell trades of UITs.", + "In our U. K. and offshore activities, unsettled fund receivables are created by the normal settlement periods on transactions initiated by certain clients.", + "The presentation of the unsettled fund receivables and substantially offsetting payables ($439.6 million at December 31, 2011 down from $504.8 million at December 31, 2010 ) at trade date reflects the legal relationship between the underlying investor and the company.", + "Investments (current and non-current) As of December 31, 2011 we had $484.5 million in investments, of which $283.7 million were current investments and $200.8 million were non-current investments.", + "Included in current investments are $63.5 million of seed money investments in affiliated funds used to seed funds as we launch new products, and $184.4 million of investments related to assets held for deferred compensation plans, which are also held primarily in affiliated funds.", + "Seed investments decreased by $35.9 million during the year ended December 31, 2011, due primarily to market decreases and net disposals of seed money investments.", + "Investments held to hedge deferred compensation awards increased by $18.9 million during the year, primarily due to additional investments in affiliated funds to hedge economically new employee plan awards.", + "Included in non-current investments are $193.1 million in equity method investments in our Chinese joint ventures and in certain of the company\u2019s private equity partnerships, real estate partnerships and other investments (December 31, 2010: $156.9 million).", + "The increase of $36.2 million in equity method investments includes an increase of $32.1 million in partnership investments due to a $40.2 million co-investment in new European and Asian real estate funds, other capital calls and valuation improvements offset by distributions and capital returns during the period.", + "The value of the joint venture investments and other non-controlling equity method investments increased by $4.1 million during the year as a result of current year earnings of $17.2 million, foreign exchange rate movements which added $2.8 million to the value and capital injections of $1.6 million, offset by annual dividends paid of $17.5 million to the company.", + "Provisional Amounts Deferred tax assets and liabilities: The company remeasured certain deferred tax assets and liabilities based on the tax rates at which they are expected to reverse in the future, typically 21% under the 2017 Tax Act.", + "However, the company is still analyzing certain aspects of the legislation and refining its calculations.", + "Any updates or changes could affect the measurement of these balances or give rise to new deferred tax amounts.", + "The provisional income tax beneffit recorded related to the remeasurement of the deferred tax balance was $130.7 million at December 31, 2017.", + "Foreign tax effects: The one-time transition tax is based on the total post-1986 earnings and profits (E&P) that were previously deferred from U. S. income taxes.", + "The company does not anticipate incurring an income tax liability and therefore no provision has been made.", + "However, the company has not completed its analysis as to the existence of foreign subsidiaries it may be deemed to indirectly own (or partially own) through attribution or by way of its investment in various fund products which in turn may hold ownership in foreign subsidiaries where the transition tax may apply.", + "Therefore, our determination as to the need for a net transition tax liability may change once this analysis has been completed.", + "At December 31, 2017 the company had tax loss carryforwards accumulated in certain taxing jurisdictions in the aggregate of $413.3 million (2016: $243.8 million), approximately $35.2 million of which will expire between 2018 and 2020, $15.2 million of which will expire after 2020, with the remaining $362.9 million having an indefinite life.", + "The increase in tax loss carryforwards from 2016 to 2017 of $169.5 million results from the acquisition of the European ETF business ($160.1 million) and the impact of foreign exchange translation on non-U.", + "S. dollar denominated losses ($23.1 million) with the remainder of the movement due to additional losses not recognized ($15.8 million), offset with loss expiration and utilization ($30.0 million).", + "A valuation allowance has been recorded against the deferred tax assets related to these losses where a history of losses in the respective tax jurisdiction makes it unlikely that the deferred tax asset will be realized.", + "A reconciliation between the statutory rate and the effective tax rate on income from operations for the years ended December 31, 2017, 2016 and 2015 is as follows:", + "||2017|2016|2015|\n|Statutory Rate|35.0%|35.0%|35.0%|\n|Foreign jurisdiction statutory income tax rates|-9.6%|-8.1%|-9.2%|\n|State taxes, net of federal tax effect|2.2%|1.6%|1.6%|\n|Impact of the 2017 Tax Act|-9.3%|\u2014%|\u2014%|\n|Change in valuation allowance for unrecognized tax losses|0.4%|-0.4%|-0.1%|\n|Share Based Compensation|-0.3%|\u2014%|\u2014%|\n|Other|1.2%|0.3%|1.8%|\n|(Gains)/losses attributable to noncontrolling interests|-0.8%|-0.4%|0.1%|\n|Effective tax rate per Consolidated Statements of Income|18.8%|28.0%|29.2%|\n", + "The company's subsidiaries operate in severalt taxing jurisdictions around the world, each with its own statutory income tax rate.", + "As a result, the blended average statutory tax rate will vary from year to year depending on the mix of the profits and losses of the company's subsidiaries.", + "The majority of our profits are earned in the U. S. and the U. K. The enacted U. K. statutory tax rate, for U. S. GAAP purposes, was 19% as of December 31, 2017.", + "As of December 31, 2017, the U. S. federal statutory tax rate was 35%.", + "The 2017 Tax Act enacted for U. S. GAAP purposes on December 22, 2017 reduces the U. S. federal statutory tax rate to 21% from January 1, 2018.", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis The Grand Gulf recovery variance is primarily due to increased recovery of higher costs resulting from the Grand Gulf uprate.", + "The volume/weather variance is primarily due to the effects of more favorable weather on residential sales and an increase in industrial sales primarily due to growth in the refining segment.", + "The fuel recovery variance is primarily due to: ?", + "the deferral of increased capacity costs that will be recovered through fuel adjustment clauses; ?", + "the expiration of the Evangeline gas contract on January 1, 2013; and ?", + "an adjustment to deferred fuel costs recorded in the third quarter 2012 in accordance with a rate order from the PUCT issued in September 2012.", + "See Note 2 to the financial statements for further discussion of this PUCT order issued in Entergy Texas's 2011 rate case.", + "The MISO deferral variance is primarily due to the deferral in April 2013, as approved by the APSC, of costs incurred since March 2010 related to the transition and implementation of joining the MISO RTO.", + "The decommissioning trusts variance is primarily due to lower regulatory credits resulting from higher realized income on decommissioning trust fund investments.", + "There is no effect on net income as the credits are offset by interest and investment income.", + "Entergy Wholesale Commodities Following is an analysis of the change in net revenue comparing 2013 to 2012.", + "||Amount (In Millions)|\n|2012 net revenue|$1,854|\n|Mark-to-market|-58|\n|Nuclear volume|-24|\n|Nuclear fuel expenses|-20|\n|Nuclear realized price changes|58|\n|Other|-8|\n|2013 net revenue|$1,802|\n", + "As shown in the table above, net revenue for Entergy Wholesale Commodities decreased by approximately $52 million in 2013 primarily due to: ?", + "the effect of rising forward power prices on electricity derivative instruments that are not designated as hedges, including additional financial power sales conducted in the fourth quarter 2013 to offset the planned exercise of in-the-money protective call options and to lock in margins.", + "These additional sales did not qualify for hedge accounting treatment, and increases in forward prices after those sales were made accounted for the majority of the negative mark-to-market variance.", + "It is expected that the underlying transactions will result in earnings in first quarter 2014 as these positions settle.", + "See Note 16 to the financial statements for discussion of derivative instruments; ?", + "the decrease in net revenue compared to prior year resulting from the exercise of resupply options provided for in purchase power agreements where Entergy Wholesale Commodities may elect to supply power from another source when the plant is not running.", + "Amounts related to the exercise of resupply options are included in the GWh billed in the table below; and", + "bonds, the actual average life of our investments can not be known at the time of the investment.", + "We do know that the average life will not be less than the average life to next call and will not exceed the average life to maturity.", + "Data for both of these average life measures is provided in the above chart.", + "During 2005-2007, especially during 2005, there have been periods when yields available on acceptable-quality long-term non-callable securities did not meet our objectives.", + "During such periods, we have invested in shorter-term securities.", + "Some of these periods were characterized by relatively flat or inverted yield curves.", + "During such periods, we did not have to give up much yield to invest in shorter-term securities, and we took on less credit risk than had we invested longer-term.", + "Prior to 2007, we generally did not invest in securities with maturity dates more than 30 years after the acquisition date.", + "During 2007, we invested some funds in hybrid securities (bonds, trust preferred securities and redeemable preferred stocks) with very long scheduled maturity dates, often exceeding 50 years.", + "In virtually all cases, such hybrid securities are callable many years prior to the scheduled maturity date.", + "As shown in the chart above, the effective annual yield and average life to maturity on funds invested during 2005 is significantly lower than that of funds invested during 2006 and 2007.", + "This difference is reflective of the fact that, consistent with the investment environment and strategy described above, we invested relatively more funds in lower yielding, shorter-term investments in 2005 than we did in 2006- 2007.", + "Due primarily to our investments in hybrid securities as described above, the average life of funds invested during 2007 (to both next call and maturity) is significantly higher than that of investments during 2005-2006.", + "Given the long-term fixed-rate characteristics of our policy liabilities, we believe that investments with average lives in excess of 20 years are appropriate.", + "New cash flow available to us for investment was affected by issuer calls as a result of the low\u0002interest environment experienced during the past three years.", + "Issuers are more likely to call bonds when rates are low because they often can refinance them at a lower cost.", + "Calls increase funds available for investment, but they can negatively affect portfolio yield if they cause us to replace higher-yielding bonds with those available at lower prevailing yields.", + "Issuer calls were $848 million in 2007, $229 million in 2006, and $226 million in 2005.", + "As long as we continue our current investment strategy and the average yield on new investments is less than the average yield of the portfolio and of assets disposed of, the average yield on fixed maturity assets in the portfolio should decline.", + "Because of the significant investable cash flow generated from investments and operations, Torchmark will benefit if yield rates available on new investments increase.", + "Portfolio Analysis.", + "Because Torchmark has recently invested almost exclusively in fixed-maturity securities, the relative percentage of our assets invested in various types of investments varies from industry norms." + ], + "question_id": "simplong-test-360", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the section with lowest amount of Net interest income, what's theamount of Net interest income and Total revenue, net of interest expense? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Uncertain Tax Positions The following is a reconciliation of the Company's beginning and ending amount of uncertain tax positions (in millions):", + "||2015|2014|\n|Balance at January 1|$191|$164|\n|Additions based on tax positions related to the current year|31|31|\n|Additions for tax positions of prior years|53|10|\n|Reductions for tax positions of prior years|-18|-6|\n|Settlements|-32|\u2014|\n|Business combinations|\u2014|5|\n|Lapse of statute of limitations|-5|-11|\n|Foreign currency translation|-2|-2|\n|Balance at December 31|$218|$191|\n", + "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.", + "Table XIV Quarterly Supplemental Financial Data", + "||2016 Quarters|2015 Quarters|\n|(Dollars in millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Fully taxable-equivalent basis data-1|||||||||\n|Net interest income|$10,526|$10,429|$10,341|$10,700|$9,911|$10,127|$9,739|$10,070|\n|Total revenue, net of interest expense|20,224|21,863|21,509|21,005|19,807|21,219|21,262|21,566|\n|Net interest yield|2.23%|2.23%|2.23%|2.33%|2.14%|2.19%|2.16%|2.26%|\n|Efficiency ratio|65.08|61.66|62.73|70.54|70.73|65.70|65.65|73.39|\n", + "(1) FTE basis is a non-GAAP financial measure.", + "FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes.", + "The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices.", + "For more information on these performance measures and ratios, see Supplemental Financial Data on page 26 and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "|(Dollars in millions, shares in thousands)|2016|2015|2014|2013|2012|\n|Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis||||||\n|Net interest income|$41,096|$38,958|$40,779|$40,719|$40,135|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Net interest income on a fully taxable-equivalent basis|$41,996|$39,847|$41,630|$41,578|$41,036|\n|Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis||||||\n|Total revenue, net of interest expense|$83,701|$82,965|$85,894|$87,502|$82,798|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Total revenue, net of interest expense on a fully taxable-equivalent basis|$84,601|$83,854|$86,745|$88,361|$83,699|\n|Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis||||||\n|Income tax expense (benefit)|$7,247|$6,234|$2,443|$4,194|$-1,320|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Income tax expense (benefit) on a fully taxable-equivalent basis|$8,147|$7,123|$3,294|$5,053|$-419|\n|Reconciliation of average common shareholders\u2019 equity to average tangible common shareholders\u2019 equity||||||\n|Common shareholders\u2019 equity|$241,621|$230,173|$222,907|$218,340|$216,999|\n|Goodwill|-69,750|-69,772|-69,809|-69,910|-69,974|\n|Intangible assets (excluding MSRs)|-3,382|-4,201|-5,109|-6,132|-7,366|\n|Related deferred tax liabilities|1,644|1,852|2,090|2,328|2,593|\n|Tangible common shareholders\u2019 equity|$170,133|$158,052|$150,079|$144,626|$142,252|\n|Reconciliation of average shareholders\u2019 equity to average tangible shareholders\u2019 equity||||||\n|Shareholders\u2019 equity|$266,277|$251,981|$238,317|$233,819|$235,681|\n|Goodwill|-69,750|-69,772|-69,809|-69,910|-69,974|\n|Intangible assets (excluding MSRs)|-3,382|-4,201|-5,109|-6,132|-7,366|\n|Related deferred tax liabilities|1,644|1,852|2,090|2,328|2,593|\n|Tangible shareholders\u2019 equity|$194,789|$179,860|$165,489|$160,105|$160,934|\n|Reconciliation of year-end common shareholders\u2019 equity to year-end tangible common shareholders\u2019 equity||||||\n|Common shareholders\u2019 equity|$241,620|$233,903|$224,167|$219,124|$218,194|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible common shareholders\u2019 equity|$170,432|$162,090|$151,738|$145,872|$143,962|\n|Reconciliation of year-end shareholders\u2019 equity to year-end tangible shareholders\u2019 equity||||||\n|Shareholders\u2019 equity|$266,840|$256,176|$243,476|$232,475|$236,962|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible shareholders\u2019 equity|$195,652|$184,363|$171,047|$159,223|$162,730|\n|Reconciliation of year-end assets to year-end tangible assets||||||\n|Assets|$2,187,702|$2,144,287|$2,104,539|$2,102,064|$2,209,981|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible assets|$2,116,514|$2,072,474|$2,032,110|$2,028,812|$2,135,749|\n", + "(1) Presents reconciliations of non-GAAP financial measures to GAAP financial measures.", + "We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation.", + "Other companies may define or calculate these measures differently.", + "For more information on non-GAAP financial measures and ratios we use in assessing the results of the Corporation, see Supplemental Financial Data on page 26.", + "As of December 31, 2012, we: ?", + "owned and operated a petroleum refinery in El Dorado, Kansas, two refinery facilities located in Tulsa, Oklahoma, a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the \u201cNavajo Refinery\u201d), a refinery located in Cheyenne, Wyoming and a refinery in Woods Cross, Utah (the \u201cWoods Cross Refinery\u201d); ?", + "owned and operated NK Asphalt Partners (\u201cNK Asphalt\u201d) which operates various asphalt terminals in Arizona and New Mexico; ?", + "owned Ethanol Management Company (\u201cEMC\u201d), a products terminal and blending facility near Denver, Colorado, and a 50% interest in Sabine Biofuels II, LLC (\u201cSabine Biofuels\u201d), a biodiesel production facility located in Port Arthur, Texas; and ?", + "owned a 44% interest in HEP, a consolidated VIE, which includes our 2% general partner interest.", + "HEPowns and operates logistic assets consisting of petroleum product and crude oil pipelines and terminal, tankage and loading rack facilities that principally support our refining and marketing operations in the Mid-Continent, Southwest and Rocky Mountain regions of the United States and Alon USA, Inc. 's (\u201cAlon\u201d) refinery in Big Spring, Texas.", + "Additionally, HEPowns a 75% interest in UNEV Pipeline, L. L. C. (\u201cUNEV\u201d), which owns a 12-inch refined products pipeline from Salt Lake City, Utah to Las Vegas, Nevada, together with terminal facilities in the Cedar City, Utah and North Las Vegas areas (the \u201cUNEV Pipeline\u201d) and a 25% interest in SLC Pipeline LLC (the \u201cSLC Pipeline\u201d), a 95-mile intrastate pipeline system that serves refineries in the Salt Lake City area.", + "Our operations are currently organized into two reportable segments, Refining and HEP.", + "The Refining segment includes the operations of our El Dorado, Tulsa, Navajo, Cheyenne and Woods Cross Refineries and NK Asphalt.", + "The HEPsegment involves all of the operations of HEP effective March 1, 2008 (date of reconsolidation).", + "The financial information about our segments is discussed in Note 21 \u201cSegment Information\u201d in the Notes to Consolidated Financial Statements.", + "REFINERY OPERATIONS Our refinery operations serve the Mid-Continent, Southwest and Rocky Mountain regions of the United States.", + "We own and operate five complex refineries having an aggregate crude capacity of 443,000 barrels per stream day.", + "Each of our refineries has the complexity to convert discounted, heavy and sour crude oils into a high percentage of gasoline, diesel and other high-value refined products.", + "For 2012, gasoline, diesel fuel, jet fuel and specialty lubricants (excluding volumes purchased for resale) represented 50%, 31%, 6% and 3%, respectively, of our total refinery sales volumes.", + "The tables presented below and elsewhere in this discussion of our refinery operations set forth information, including non-GAAP performance measures, about our refinery operations.", + "The cost of products and refinery gross and net operating margins do not include the effect of depreciation and amortization.", + "Reconciliations to amounts reported under GAAP are provided under \u201cReconciliations to Amounts Reported Under Generally Accepted Accounting Principles\u201d following Item 7A of Part II of this Form 10-K." + ], + "question_id": "simplong-test-361", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the growth rate of Group specialty in 2011? (in %)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Humana Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\u2014(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\u2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows:", + "||Metropolitan (in millions)|\n|Cash and cash equivalents|$49|\n|Receivables, net|28|\n|Other current assets|40|\n|Property and equipment|22|\n|Goodwill|569|\n|Other intangible assets|263|\n|Other long-term assets|1|\n|Total assets acquired|972|\n|Current liabilities|-22|\n|Other long-term liabilities|-99|\n|Total liabilities assumed|-121|\n|Net assets acquired|$851|\n", + "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\u2014(Continued) 17.", + "EXPENSES ASSOCIATED WITH LONG-DURATION INSURANCE PRODUCTS Premiums associated with our long-duration insurance products accounted for approximately 2% of our consolidated premiums and services revenue for the year ended December 31, 2012.", + "We use long-duration accounting for products such as long-term care, life insurance, annuities, and certain health and other supplemental policies sold to individuals because they are expected to remain in force for an extended period beyond one year and because premium received in the earlier years is intended to pay anticipated benefits to be incurred in future years.", + "As a result, we defer policy acquisition costs, primarily consisting of commissions, and amortize them over the estimated life of the policies in proportion to premiums earned.", + "In addition, we establish reserves for future policy benefits in recognition of the fact that some of the premium received in the earlier years is intended to pay anticipated benefits to be incurred in future years.", + "These reserves are recognized on a net level premium method based on interest rates, mortality, morbidity, withdrawal and maintenance expense assumptions from published actuarial tables, modified based upon actual experience.", + "The assumptions used to determine the liability for future policy benefits are established and locked in at the time each contract is acquired and would only change if our expected future experience deteriorated to the point that the level of the liability, together with the present value of future gross premiums, are not adequate to provide for future expected policy benefits.", + "Long-term care policies provide for long-duration coverage and, therefore, our actual claims experience will emerge many years after assumptions have been established.", + "The risk of a deviation of the actual interest rates, morbidity rates, and mortality rates from those assumed in our reserves are particularly significant to our closed block of long-term care policies.", + "We monitor the loss experience of these long-term care policies and, when necessary, apply for premium rate increases through a regulatory filing and approval process in the jurisdictions in which such products were sold.", + "To the extent premium rate increases and/ or loss experience vary from our acquisition date assumptions, future adjustments to reserves could be required.", + "The table below presents deferred acquisition costs and future policy benefits payable associated with our long-duration insurance products for the years ended December 31, 2012 and 2011.", + "||2012|2011|\n|| Deferred acquisition costs|Future policy benefits payable| Deferred acquisition costs|Future policy benefits payable|\n||(in millions)|\n|Other long-term assets|$149|$0|$114|$0|\n|Trade accounts payable and accrued expenses|0|-63|0|-58|\n|Long-term liabilities|0|-1,858|0|-1,663|\n|Total asset (liability)|$149|$-1,921|$114|$-1,721|\n", + "In addition, future policy benefits payable include amounts of $220 million at December 31, 2012 and $224 million at December 31, 2011 which are subject to 100% coinsurance agreements as more fully described in Note 18.", + "Benefits expense associated with future policy benefits payable was $136 million in 2012, $114 million in 2011, and $266 million in 2010.", + "Benefits expense for 2012 and 2010 included net charges of $29 million and $139 million, respectively, associated with our long-term care policies discussed further below.", + "Amortization of deferred acquisition costs included in operating costs was $44 million in 2012, $34 million in 2011, and $198 million in 2010.", + "Amortization expense for 2010 included a write-down of deferred acquisition costs of $147 million discussed further below.", + "|||Change|\n||2011|2010|Dollars|Percentage|\n||(in millions)||\n| Premiums and Services Revenue:|||||\n|Premiums:|||||\n|Fully-insured commercial group|$4,782|$5,169|$-387|-7.5%|\n|Group Medicare Advantage|3,152|3,021|131|4.3%|\n|Group Medicare stand-alone PDP|8|5|3|60.0%|\n|Total group Medicare|3,160|3,026|134|4.4%|\n|Group specialty|935|885|50|5.6%|\n|Total premiums|8,877|9,080|-203|-2.2%|\n|Services|356|395|-39|-9.9%|\n|Total premiums and services revenue|$9,233|$9,475|$-242|-2.6%|\n| Income before income taxes|$242|$288|$-46|-16.0%|\n|Benefit ratio|82.4%|82.4%||0.0%|\n|Operating cost ratio|17.8%|17.5%||0.3%|\n", + "Pretax Results ?", + "Employer Group segment pretax income decreased $46 million, or 16%, to $242 million in 2011 primarily due to the impact of minimum benefit ratios required under the Health Insurance Reform Legislation which became effective in 2011.", + "Enrollment ?", + "Fully-insured commercial group medical membership decreased 72,000 members, or 5.7%, from December 31, 2010 to December 31, 2011 primarily due to continued pricing discipline in a highly competitive environment for large group business partially offset by small group business membership gains. ?", + "Group ASO commercial medical membership decreased 161,300 members, or 11.1%, from December 31, 2010 to December 31, 2011 primarily due to continued pricing discipline in a highly competitive environment for self-funded accounts.", + "Premiums revenue ?", + "Employer Group segment premiums decreased by $203 million, or 2.2%, from 2010 to $8.9 billion for 2011 primarily due to lower average commercial group medical membership year-over-year and rebates associated with minimum benefit ratios required under the Health Insurance Reform Legislation which became effective in 2011, partially offset by an increase in group Medicare Advantage membership.", + "Rebates result in the recognition of lower premiums revenue, as amounts are set aside for payments to commercial customers during the following year.", + "Benefits expense ?", + "The Employer Group segment benefit ratio of 82.4% for 2011 was unchanged from 2010 due to offsetting factors.", + "Factors increasing the 2011 ratio compared to the 2010 ratio include growth in our group Medicare Advantage products which generally carry a higher benefit ratio than our fully-insured commercial group products and the effect of rebates accrued in 2011 associated with the minimum benefit ratios required under the Health Insurance Reform Legislation.", + "Factors decreasing the 2011 ratio compared to the 2010 ratio include the beneficial effect of higher favorable prior-period medical claims reserve development in 2011 versus 2010 and lower utilization of benefits in our commercial group" + ], + "question_id": "simplong-test-362", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the total intrinsic value of options exercised during 2007 , 2006 and 2005 in millions?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Tobacco-Related Cases Set for Trial: As of January 29, 2018, three Engle progeny cases are set for trial through March 31, 2018.", + "There are no other individual smoking and health cases against PM USA set for trial during this period.", + "Cases against other companies in the tobacco industry may be scheduled for trial during this period.", + "Trial dates are subject to change.", + "Trial Results: Since January 1999, excluding the Engle progeny cases (separately discussed below), verdicts have been returned in 63 smoking and health, \u201cLights/Ultra Lights\u201d and health care cost recovery cases in which PM USA was a defendant.", + "Verdicts in favor of PM USA and other defendants were returned in 42 of the 63 cases.", + "These 42 cases were tried in Alaska (1), California (7), Connecticut (1), Florida (10), Louisiana (1), Massachusetts (2), Mississippi (1), Missouri (4), New Hampshire (1), New Jersey (1), New York (5), Ohio (2), Pennsylvania (1), Rhode Island (1), Tennessee (2) and West Virginia (2).", + "A motion for a new trial was granted in one of the cases in Florida and in the case in Alaska.", + "In the Alaska case (Hunter), the trial court withdrew its order for a new trial upon PM USA\u2019s motion for reconsideration.", + "In December 2015, the Alaska Supreme Court reversed the trial court decision and remanded the case with directions for the trial court to reassess whether to grant a new trial.", + "In March 2016, the trial court granted a new trial and PM USA filed a petition for review of that order with the Alaska Supreme Court, which the court denied in July 2016.", + "The retrial began in October 2016.", + "In November 2016, the court declared a mistrial after the jury failed to reach a verdict.", + "The plaintiff subsequently moved for a new trial, which is scheduled to begin April 9, 2018.", + "See Types and Number of Cases above for a discussion of the trial results in In re: Tobacco Litigation (West Virginia consolidated cases).", + "Of the 21 non-Engle progeny cases in which verdicts were returned in favor of plaintiffs, 18 have reached final resolution.", + "As of January 29, 2018, 116 state and federal Engle progeny cases involving PM USA have resulted in verdicts since the Florida Supreme Court\u2019s Engle decision as follows: 61 verdicts were returned in favor of plaintiffs; 45 verdicts were returned in favor of PM USA.", + "Eight verdicts that were initially returned in favor of plaintiff were reversed post-trial or on appeal and remain pending and two verdicts in favor of PM USA were reversed for a new trial.", + "See Smoking and Health Litigation - Engle Progeny Trial Court Results below for a discussion of these verdicts.", + "Judgments Paid and Provisions for Tobacco and Health Litigation Items (Including Engle Progeny Litigation): After exhausting all appeals in those cases resulting in adverse verdicts associated with tobacco-related litigation, since October 2004, PM USA has paid in the aggregate judgments and settlements (including related costs and fees) totaling approximately $490 million and interest totaling approximately $184 million as of December 31, 2017.", + "These amounts include payments for Engle progeny judgments (and related costs and fees) totaling approximately $99 million, interest totaling approximately $22 million and payment of approximately $43 million in connection with the Federal Engle Agreement, discussed below.", + "The changes in Altria Group, Inc. \u2019s accrued liability for tobacco and health litigation items, including related interest costs, for the periods specified below are as follows:", + "|(in millions)|2017|2016|2015|\n|Accrued liability for tobacco and health litigation items at beginning of year|$47|$132|$39|\n|Pre-tax charges for:||||\n|Tobacco and health judgments|72|21|84|\n|Related interest costs|8|7|23|\n|Agreement to resolve federalEngleprogeny cases|\u2014|\u2014|43|\n|Agreement to resolveAspinallincluding relatedinterest costs|\u2014|32|\u2014|\n|Agreement to resolveMiner|\u2014|45|\u2014|\n|Payments|-21|-190|-57|\n|Accrued liability for tobacco and health litigation items atend of year|$106|$47|$132|\n", + "The accrued liability for tobacco and health litigation items, including related interest costs, was included in liabilities on Altria Group, Inc. \u2019s consolidated balance sheets.", + "Pre-tax charges for tobacco and health judgments, the agreement to resolve federal Engle progeny cases and the agreements to resolve the Aspinall and Miner \u201clights\u201d class action cases (excluding related interest costs of approximately $10 million in Aspinall) were included in marketing, administration and research costs on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Pre-tax charges for related interest costs were included in interest and other debt expense, net on Altria Group, Inc. \u2019s consolidated statements of earnings.", + "Security for Judgments: To obtain stays of judgments pending current appeals, as of December 31, 2017, PM USA has posted various forms of security totaling approximately $61 million, the majority of which has been collateralized with cash deposits that are included in assets on the consolidated balance sheet.", + "Information about stock options at December 31, 2007 follows:", + "||Options Outstanding|Options Exercisable(a)|\n|December 31, 2007Shares in thousandsRange of exercise prices|Shares|Weighted- averageexercise price|Weighted-average remaining contractual life (in years)|Shares|Weighted-averageexercise price|\n|$37.43 \u2013 $46.99|1,444|$43.05|4.0|1,444|$43.05|\n|47.00 \u2013 56.99|3,634|53.43|5.4|3,022|53.40|\n|57.00 \u2013 66.99|3,255|60.32|5.2|2,569|58.96|\n|67.00 \u2013 76.23|5,993|73.03|5.5|3,461|73.45|\n|Total|14,326|$62.15|5.3|10,496|$59.95|\n", + "(a) The weighted-average remaining contractual life was approximately 4.2 years.", + "At December 31, 2007, there were approximately 13,788,000 options in total that were vested and are expected to vest.", + "The weighted-average exercise price of such options was $62.07 per share, the weighted-average remaining contractual life was approximately 5.2 years, and the aggregate intrinsic value at December 31, 2007 was approximately $92 million.", + "Stock options granted in 2005 include options for 30,000 shares that were granted to non-employee directors that year.", + "No such options were granted in 2006 or 2007.", + "Awards granted to non-employee directors in 2007 include 20,944 deferred stock units 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 under SFAS 123R until such awards are paid to the participants as cash.", + "As there are no vestings or service requirements on these awards, total compensation expense is recognized in full on all awarded units on the date of grant.", + "The weighted-average grant-date fair value of options granted in 2007, 2006 and 2005 was $11.37, $10.75 and $9.83 per option, respectively.", + "To determine stock-based compensation expense under SFAS 123R, the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures.", + "At December 31, 2006 and 2005 options for 10,743,000 and 13,582,000 shares of common stock, respectively, were exercisable at a weighted-average price of $58.38 and $56.58, respectively.", + "The total intrinsic value of options exercised during 2007, 2006 and 2005 was $52 million, $111 million and $31 million, respectively.", + "At December 31, 2007 the aggregate intrinsic value of all options outstanding and exercisable was $94 million and $87 million, respectively.", + "Cash received from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $111 million, $233 million and $98 million, respectively.", + "The actual tax benefit realized for tax deduction purposes from option exercises under all Incentive Plans for 2007, 2006 and 2005 was approximately $39 million, $82 million and $34 million, respectively.", + "There were no options granted in excess of market value in 2007, 2006 or 2005.", + "Shares of common stock available during the next year for the granting of options and other awards under the Incentive Plans were 40,116,726 at December 31, 2007.", + "Total shares of PNC common stock authorized for future issuance under equity compensation plans totaled 41,787,400 shares at December 31, 2007, which includes shares available for issuance under the Incentive Plans, the Employee Stock Purchase Plan as described below, and a director plan.", + "During 2007, we issued approximately 2.1 million shares from treasury stock in connection with stock option exercise activity.", + "As with past exercise activity, we intend to utilize treasury stock for future stock option exercises.", + "As discussed in Note 1 Accounting Policies, we adopted the fair value recognition provisions of SFAS 123 prospectively to all employee awards including stock options granted, modified or settled after January 1, 2003.", + "As permitted under SFAS 123, we recognized compensation expense for stock options on a straight-line basis over the pro rata vesting period.", + "Total compensation expense recognized related to PNC stock options in 2007 was $29 million compared with $31 million in 2006 and $29 million in 2005.", + "PRO FORMA EFFECTS A table is included in Note 1 Accounting Policies that sets forth pro forma net income and basic and diluted earnings per share as if compensation expense had been recognized under SFAS 123 and 123R, as amended, for stock options for 2005.", + "For purposes of computing stock option expense and 2005 pro forma results, we estimated the fair value of stock options using the Black-Scholes option pricing model.", + "The model requires the use of numerous assumptions, many of which are very subjective.", + "Therefore, the 2005 pro forma results are estimates of results of operations as if compensation expense had been recognized for all stock-based compensation awards and are not indicative of the impact on future periods.", + "See Note 1 Accounting Policies and Note 3 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances.", + "Table 23: Allowance for Loan and Lease Losses", + "|Dollars in millions|2017|2016|\n|January 1|$2,589|$2,727|\n|Total net charge-offs|-457|-543|\n|Provision for credit losses|441|433|\n|Net decrease / (increase) in allowance forunfunded loan commitments andletters of credit|4|-40|\n|Other|34|12|\n|December 31|$2,611|$2,589|\n|Net charge-offs to average loans (for theyear ended)|.21%|.26%|\n|Allowance for loan and lease losses tototal loans|1.18%|1.23%|\n|Commercial lending net charge-offs|$-105|$-185|\n|Consumer lending net charge-offs|-352|-358|\n|Total net charge-offs|$-457|$-543|\n|Net charge-offs to average loans (for theyear ended)|||\n|Commercial lending|.07%|.14%|\n|Consumer lending|.49%|.50%|\n", + "At December 31, 2017, total ALLL to total nonperforming loans was 140%.", + "The comparable amount for December 31, 2016 was 121%.", + "These ratios are 102% and 89%, respectively, when excluding the $.7 billion of ALLL at both December 31, 2017 and December 31, 2016 allocated to consumer loans and lines of credit not secured by residential real estate and purchased impaired loans.", + "We have excluded these amounts from ALLL in these ratios as these asset classes are not included in nonperforming loans.", + "See Table 18 within this Credit Risk Management section for additional information.", + "The ALLL balance increases or decreases across periods in relation to fluctuating risk factors, including asset quality trends, net charge-offs and changes in aggregate portfolio balances.", + "During 2017, overall credit quality remained stable, which resulted in an essentially flat ALLL balance as of December 31, 2017 compared to December 31, 2016.", + "The following table summarizes our loan charge-offs and recoveries.", + "Table 24: Loan Charge-Offs and Recoveries", + "|Year ended December 31Dollars in millions|Gross Charge-offs|Recoveries|Net Charge-offs / (Recoveries)|Percent of Average Loans|\n|2017|||||\n|Commercial|$186|$81|$105|.10%|\n|Commercial realestate|24|28|-4|-.01%|\n|Equipmentlease financing|11|7|4|.05%|\n|Home equity|123|91|32|.11%|\n|Residential realestate|9|18|-9|-.06%|\n|Credit card|182|21|161|3.06%|\n|Other consumer|251|83|168|.77%|\n|Total|$786|$329|$457|.21%|\n|2016|||||\n|Commercial|$332|$117|$215|.21%|\n|Commercial realestate|26|51|-25|-.09%|\n|Equipment leasefinancing|5|10|-5|-.07%|\n|Home equity|143|84|59|.19%|\n|Residential realestate|14|9|5|.03%|\n|Credit card|161|19|142|2.90%|\n|Other consumer|205|53|152|.70%|\n|Total|$886|$343|$543|.26%|\n", + "See Note 1 Accounting Policies and Note 4 Allowance for Loan and Lease Losses in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information on the ALLL." + ], + "question_id": "simplong-test-363", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Orange Co., CA, San Francisco, CA, Los Angeles, CA and San Diego, CA for Number of Apartment Communities?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part I Item 1 Entergy Corporation, Domestic utility companies, and System Energy 113 Entergy Louisiana holds non-exclusive franchises to provide electric service in approximately 116 incorporated Louisiana municipalities.", + "Most of these franchises have 25-year terms, although six of these municipalities have granted 60-year franchises.", + "Entergy Louisiana also supplies electric service in approximately 353 unincorporated communities, all of which are located in Louisiana parishes in which it holds non-exclusive franchises.", + "Entergy Mississippi has received from the MPSC certificates of public convenience and necessity to provide electric service to areas within 45 counties, including a number of municipalities, in western Mississippi.", + "Under Mississippi statutory law, such certificates are exclusive.", + "Entergy Mississippi may continue to serve in such municipalities upon payment of a statutory franchise fee, regardless of whether an original municipal franchise is still in existence.", + "Entergy New Orleans provides electric and gas service in the City of New Orleans pursuant to city ordinances (except electric service in Algiers, which is provided by Entergy Louisiana).", + "These ordinances contain a continuing option for the City of New Orleans to purchase Entergy New Orleans' electric and gas utility properties.", + "The business of System Energy is limited to wholesale power sales.", + "It has no distribution franchises.", + "Property and Other Generation Resources Generating Stations The total capability of the generating stations owned and leased by the domestic utility companies and System Energy as of December 31, 2004, is indicated below:", + "||Owned and Leased Capability MW-1|\n|Company|Total|Gas/Oil|Nuclear|Coal|Hydro|\n|Entergy Arkansas|4,709|1,613|1,837|1,189|70|\n|Entergy Gulf States|6,485|4,890|968|627|-|\n|Entergy Louisiana|5,363|4,276|1,087|-|-|\n|Entergy Mississippi|2,898|2,490|-|408|-|\n|Entergy New Orleans|915|915|-|-|-|\n|System Energy|1,143|-|1,143|-|-|\n|Total|21,513|14,184|5,035|2,224|70|\n", + "(1) \"Owned and Leased Capability\" is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.", + "Entergy's load and capacity projections are reviewed periodically to assess the need and timing for additional generating capacity and interconnections.", + "These reviews consider existing and projected demand, the availability and price of power, the location of new loads, and economy.", + "Peak load in the U. S. Utility service territory is typically around 21,000 MW, with minimum load typically around 9,000 MW.", + "Allowing for an adequate reserve margin, Entergy has been short approximately 3,000 MW during the summer peak load period.", + "In addition to its net short position at summer peak, Entergy considers its generation in three categories: (1) baseload (e. g. coal and nuclear); (2) load-following (e. g. combined cycle gas-fired); and (3) peaking.", + "The relative supply and demand for these categories of generation vary by region of the Entergy System.", + "For example, the north end of its system has more baseload coal and nuclear generation than regional demand requires, but is short load-following or intermediate generation.", + "In the south end of the Entergy system, load would be more effectively served if gas\u0002fired intermediate resources already in place were supplemented with additional solid fuel baseload generation.", + "REIT ownership requirements; however, the restrictions may have the effect of preventing a change of control, which does not threaten REIT status.", + "These restrictions include a provision that generally limits ownership by any person of more than 9.9% of the value of our outstanding equity stock, unless our board of directors exempts the person from such ownership limitation, provided that any such exemption shall not allow the person to exceed 13% of the value of our outstanding equity stock.", + "These provisions may have the effect of delaying, deferring or preventing someone from taking control of us, even though a change of control might involve a premium price for our stockholders or might otherwise be in our stockholders\u2019 best interests.", + "Item 1B.", + "UNRESOLVED STAFF COMMENTS None.", + "Item 2.", + "PROPERTIES At December 31, 2007, our apartment portfolio included 234 communities located in 30 markets, with a total of 65,867 completed apartment homes.", + "We own approximately 50,300 square feet of office space in Richmond, Virginia, and we lease approximately 15,500 square feet of office space in Highlands Ranch, Colorado, for our corporate headquarters.", + "The table below sets forth a summary of our real estate portfolio by geographic market at December 31, 2007.", + "SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2007", + "|| Number of Apartment Communities| Number of Apartment Homes|Percentage of Carrying Value| Carrying Value (In thousands)| Encumbrances (In thousands)| Cost per Home|Average Physical Occupancy| Average Home Size (Square Feet)|\n| WESTERN REGION|||||||||\n|Orange Co., CA|13|4,067|11.7%|$696,332|$146,319|$171,215|94.9%|821|\n|San Francisco, CA|9|1,896|5.7%|339,664|\u2014|179,148|96.3%|791|\n|Los Angeles, CA|7|1,380|4.7%|278,375|89,574|201,721|92.9%|940|\n|San Diego, CA|5|1,123|2.8%|166,900|39,847|148,620|94.1%|797|\n|Inland Empire, CA|3|1,074|2.5%|147,351|\u2014|137,198|92.2%|886|\n|Seattle, WA|7|1,270|2.5%|147,268|68,920|115,959|95.7%|871|\n|Monterey Peninsula, CA|7|1,565|2.5%|146,325|\u2014|93,498|93.5%|724|\n|Portland, OR|5|1,365|1.5%|91,537|20,891|67,060|95.2%|887|\n|Sacramento, CA|2|914|1.1%|65,466|48,167|71,626|92.1%|820|\n| MID-ATLANTIC REGION|||||||||\n|Metropolitan DC|10|3,138|7.3%|432,905|90,563|137,956|89.1%|928|\n|Raleigh, NC|11|3,663|3.9%|234,849|56,862|64,114|93.8%|957|\n|Richmond, VA|9|2,636|3.3%|195,943|40,715|74,333|90.5%|968|\n|Baltimore, MD|10|2,119|3.2%|188,347|\u2014|88,885|93.2%|924|\n|Wilmington, NC|6|1,868|1.8%|107,439|\u2014|57,516|94.0%|952|\n|Charlotte, NC|6|1,226|1.5%|91,768|\u2014|74,852|94.5%|990|\n|Norfolk, VA|6|1,438|1.3%|77,089|28,388|53,608|94.5%|1,016|\n|Other Mid-Atlantic|13|2,817|2.6%|152,308|\u2014|54,067|94.2%|922|\n| SOUTHEASTERN REGION|||||||||\n|Tampa, FL|12|4,106|5.0%|294,845|51,994|71,808|88.4%|977|\n|Orlando, FL|12|3,476|4.1%|244,373|84,098|70,303|90.0%|955|\n|Nashville, TN|10|2,966|3.4%|204,382|78,814|68,908|93.2%|918|\n|Jacksonville, FL|5|1,857|2.5%|149,131|16,011|80,307|93.0%|913|\n|Other Florida|8|2,400|2.8%|169,006|\u2014|70,419|89.4%|917|\n|Other Southeastern|7|1,752|1.4%|82,046|\u2014|46,830|94.7%|819|\n", + "PART II Item 5.", + "MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES UDR, Inc. : Common Stock UDR, Inc. \u2019s common stock has been listed on the New York Stock Exchange (\u201cNYSE\u201d) under the symbol \u201cUDR\u201d since May 7, 1990.", + "The following tables set forth the quarterly high and low sale prices per common share reported on the NYSE for each quarter of the last two fiscal years.", + "Distribution information for common stock reflects distributions declared per share for each calendar quarter and paid at the end of the following month.", + "||2017|2016|\n||High|Low|Distributions Declared|High|Low|Distributions Declared|\n|Quarter ended March 31,|$36.50|$34.48|$0.310|$38.53|$33.15|$0.295|\n|Quarter ended June 30,|$40.49|$35.97|$0.310|$38.56|$33.42|$0.295|\n|Quarter ended September 30,|$39.79|$37.75|$0.310|$37.63|$34.20|$0.295|\n|Quarter ended December 31,|$40.05|$37.68|$0.310|$36.48|$33.11|$0.295|\n", + "On February 16, 2018, the closing sale price of our common stock was $34.61 per share on the NYSE, and there were 3,639 holders of record of the 268,160,029 outstanding shares of our common stock.", + "We have determined that, for federal income tax purposes, approximately 83% of the distributions for 2017 represented ordinary income, 1% represented qualified ordinary income, 11% represented long-term capital gain, and 5% represented unrecaptured section 1250 gain.", + "UDR pays regular quarterly distributions to holders of its common stock.", + "Future distributions will be at the discretion of our Board of Directors and will depend on our actual funds from operations, financial condition and capital requirements, the annual distribution requirements under the REIT provisions of the Code, and other factors.", + "Series E Preferred Stock The Series E Cumulative Convertible Preferred Stock (\u201cSeries E\u201d) has no stated par value and a liquidation preference of $16.61 per share.", + "Subject to certain adjustments and conditions, each share of the Series E is convertible at any time and from time to time at the holder\u2019s option into 1.083 shares of our common stock.", + "The holders of the Series E are entitled to vote on an as-converted basis as a single class in combination with the holders of common stock at any meeting of our stockholders for the election of directors or for any other purpose on which the holders of common stock are entitled to vote.", + "The Series E has no stated maturity and is not subject to any sinking fund or any mandatory redemption.", + "In connection with a special dividend (declared on November 5, 2008), the Company reserved for issuance upon conversion of the Series E additional shares of common stock to which a holder of the Series E would have received if the holder had converted the Series E immediately prior to the record date for this special dividend.", + "Distributions declared on the Series E for the years ended December 31, 2017 and 2016 were $1.33 per share or $0.3322 per quarter.", + "The Series E is not listed on any exchange.", + "At December 31, 2017, a total of 2,780,994 shares of the Series E were outstanding.", + "Series F Preferred Stock We are authorized to issue up to 20,000,000 shares of our Series F Preferred Stock (\u201cSeries F\u201d).", + "The Series F may be purchased by holders of our Operating Partnership Units, or OP Units, described below under \u201cOperating Partnership Units,\u201d at a purchase price of $0.0001 per share.", + "OP unitholders are entitled to subscribe for and purchase one share of the Series F for each OP Unit held.", + "In connection with the acquisition of properties from Home OP and the formation of the DownREIT Partnership in October 2015, we issued 13,988,313 Series F shares at $0.0001 per share to former limited partners of the Home OP, which had the right to subscribe for one share of Series F for each DownREIT Unit issued in connection with the acquisitions.", + "For the years ended December 31, 2017 and 2016, we recognized income/(loss) from unconsolidated entities of $(19.3) million and $(37.4) million, respectively.", + "The decrease in loss from unconsolidated entities as compared to the prior year was primarily attributable to a reduction in depreciation and amortization at the DownREIT Partnership as a result of fully depreciated assets.", + "Interest Expense For the year ended December 31, 2018, interest expense decreased by 24.8% or $7.5 million as compared to 2017, which was primarily due to lower debt balances as a result of the prepayment of debt during the year ended December 31, 2018 and higher prepayment penalties incurred during the year ended December 31, 2017.", + "Gain/(Loss) on Sale of Real Estate Owned During the year ended December 31, 2018, the Operating Partnership recognized total gains of $75.5 million on the sale of an operating community in Orange County, California with a total of 264 apartment homes and a commercial office building in Fairfax, Virginia.", + "During the year ended December 31, 2017, the Operating Partnership sold two operating communities in Orange County, California and Carlsbad, California with a total of 218 apartment homes, resulting in a gain of $41.3 million.", + "During the year ended December 31, 2016, the Operating Partnership sold two operating communities in Baltimore, Maryland with a total of 276 apartment homes, resulting in a gain of $33.2 million.", + "Inflation We believe that the direct effects of inflation on our operations have been immaterial.", + "While the impact of inflation primarily impacts our results of operations as a result of wage pressures and increases in utilities and material costs, the majority of our apartment leases have initial terms of 12 months or less, which generally enables us to compensate for any inflationary effects by increasing rental rates on our apartment homes.", + "Although an extreme escalation in costs could have a negative impact on our residents and their ability to absorb rent increases, we do not believe this has had a material impact on our results for the year ended December 31, 2018.", + "Off-Balance Sheet Arrangements We do not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on our financial condition, changes in financial condition, revenue or expenses, results of operations, liquidity, capital expenditures or capital resources that are material.", + "Contractual Obligations The following table summarizes our contractual obligations as of December 31, 2018 (dollars in thousands):" + ], + "question_id": "simplong-test-364", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all elements sum up in 2012 , excluding Gross profit and Operating expenses? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Supplementary Information on Oil and Gas Producing Activities (Unaudited) CONTINUED Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves", + "|(In millions)|2006|2005|2004|\n|Sales and transfers of oil and gas produced, net of production, transportation and administrative costs|$-5,312|$-3,754|$-2,689|\n|Net changes in prices and production, transportation and administrative costs related to future production|-1,342|6,648|771|\n|Extensions, discoveries and improved recovery, less related costs|1,290|700|1,349|\n|Development costs incurred during the period|1,251|1,030|609|\n|Changes in estimated future development costs|-527|-552|-628|\n|Revisions of previous quantity estimates|1,319|820|948|\n|Net changes in purchases and sales of minerals in place|30|4,557|33|\n|Accretion of discount|1,882|1,124|757|\n|Net change in income taxes|-660|-6,694|-627|\n|Timing and other|-14|307|97|\n|Net change for the year|-2,083|4,186|620|\n|Beginning of year|10,601|6,415|5,795|\n|End of year|$8,518|$10,601|$6,415|\n|Net change for the year from discontinued operations|$-216|$162|$-152|\n", + "Information Available on the Company\u2019s Web Site Additional information regarding Snap-on and its products is available on the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on is not including the information contained on its web site as a part of, or incorporating it by reference into, this Annual Report on Form 10-K. Snap-on\u2019s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Definitive Proxy Statements on Schedule 14A and Current Reports on Form 8-K, as well as any amendments to those reports, are made available to the public at no charge, other than an investor\u2019s own internet access charges, through the Investor Information section of the company\u2019s web site at www.", + "snapon.", + "com.", + "Snap-on makes such material available on its web site as soon as reasonably practicable after it electronically files such material with, or furnishes it to, the Securities and Exchange Commission (\u201cSEC\u201d).", + "Copies of any materials the company files with the SEC can also be obtained free of charge through the SEC\u2019s web site at www.", + "sec.", + "gov.", + "The SEC\u2019s Public Reference Room can be contacted at 100 F Street, N. E. , Washington, D. C. 20549, or by calling 1-800-732-0330.", + "In addition, Snap-on\u2019s (i) charters for the Audit, Corporate Governance and Nominating, and Organization and Executive Compensation Committees of the company\u2019s Board of Directors; (ii) Corporate Governance Guidelines; and (iii) Code of Business Conduct and Ethics are available on Snap-on\u2019s web site.", + "Snap-on will also post any amendments to these documents, or information about any waivers granted to directors or executive officers with respect to the Code of Business Conduct and Ethics, on the company\u2019s web site at www.", + "snapon.", + "com.", + "Products and Services Tools, Diagnostics and Repair Information, and Equipment Snap-on offers a broad line of products and complementary services that are grouped into three product categories: (i) tools; (ii) diagnostics and repair information; and (iii) equipment.", + "Further product line information is not presented as it is not practicable to do so.", + "The following table shows the consolidated net sales of these product categories for the last three years:", + "||Net Sales|\n|(Amounts in millions)|2012|2011|2010|\n|Product Category:||||\n|Tools|$1,729.4|$1,667.3|$1,545.1|\n|Diagnostics and repair information|619.8|613.7|563.3|\n|Equipment|588.7|573.2|510.8|\n||$2,937.9|$2,854.2|$2,619.2|\n", + "The tools product category includes hand tools, power tools and tool storage products.", + "Hand tools include wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments and other similar products.", + "Power tools include cordless (battery), pneumatic (air), hydraulic, and corded (electric) tools, such as impact wrenches, ratchets, chisels, drills, sanders, polishers and similar products.", + "Tool storage includes tool chests, roll cabinets, tool control systems and other similar products.", + "The majority of products are manufactured by Snap-on and, in completing the product offering, other items are purchased from external manufacturers.", + "The diagnostics and repair information product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, OEM purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops manage and track performance.", + "The equipment product category includes solutions for the diagnosis and service of vehicles and industrial equipment.", + "Products include wheel alignment equipment, wheel balancers, tire changers, vehicle lifts, test lane systems, collision repair equipment, air conditioning service equipment, brake service equipment, fluid exchange equipment, transmission troubleshooting equipment, safety testing equipment, battery chargers and hoists.", + "Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after sales support for its customers, primarily focusing on the technologies and the application of specific products developed and marketed by Snap-on.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations (continued) Segment gross profit of $105.0 million in the fourth quarter of 2012 decreased $1.4 million from 2011 levels.", + "Gross margin of 38.1% in the quarter improved 210 basis points from 36.0% last year primarily due to lower restructuring costs as well as savings from ongoing RCI initiatives, particularly in Europe.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $2.5 million of restructuring costs.", + "Segment operating expenses of $73.1 million in the fourth quarter of 2012 decreased $0.3 million from 2011 levels.", + "The operating expense margin of 26.5% in the quarter increased 170 basis points from 24.8% last year primarily as a result of the lower sales.", + "As a result of these factors, segment operating earnings of $31.9 million in the fourth quarter of 2012, including $1.2 million of favorable foreign currency effects, decreased $1.1 million, or 3.3%, from 2011 levels.", + "Operating margin for the Commercial & Industrial Group of 11.6% in the fourth quarter of 2012 improved 40 basis points from 11.2% last year.", + "Snap-on Tools Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|Segment net sales|$321.6|100.0%|$292.8|100.0%|$28.8|9.8%|\n|Cost of goods sold|-185.8|-57.8%|-168.9|-57.7%|-16.9|-10.0%|\n|Gross profit|135.8|42.2%|123.9|42.3%|11.9|9.6%|\n|Operating expenses|-90.2|-28.0%|-84.3|-28.8%|-5.9|-7.0%|\n|Segment operating earnings|$45.6|14.2%|$39.6|13.5%|$6.0|15.2%|\n", + "Segment net sales of $321.6 million in the fourth quarter of 2012 increased $28.8 million, or 9.8%, from 2011 levels.", + "Excluding $1.4 million of favorable foreign currency translation, organic sales increased $27.4 million, or 9.3%, reflecting high single-digit sales increases across both the company\u2019s U. S. and international franchise operations.", + "Segment gross profit of $135.8 million in the fourth quarter of 2012 increased $11.9 million from 2011 levels.", + "Gross margin of 42.2% in the quarter compared with 42.3% last year.", + "No restructuring costs were incurred in the fourth quarter of 2012; gross profit in the fourth quarter of 2011 included $0.3 million of restructuring costs.", + "Segment operating expenses of $90.2 million in the fourth quarter of 2012 increased $5.9 million from 2011 levels primarily due to higher volume-related and other expenses.", + "The operating expense margin of 28.0% in the quarter improved 80 basis points from 28.8% last year primarily due to benefits from sales volume leverage.", + "As a result of these factors, segment operating earnings of $45.6 million in the fourth quarter of 2012, including $1.2 million of unfavorable foreign currency effects, increased $6.0 million, or 15.2%, from 2011 levels.", + "Operating margin for the Snap-on Tools Group of 14.2% in the fourth quarter of 2012 increased 70 basis points from 13.5% last year.", + "Repair Systems & Information Group", + "||Fourth Quarter||\n|(Amounts in millions)|2012|2011|Change|\n|External net sales|$194.8|80.6%|$193.0|81.6%|$1.8|0.9%|\n|Intersegment net sales|46.8|19.4%|43.5|18.4%|3.3|7.6%|\n|Segment net sales|241.6|100.0%|236.5|100.0%|5.1|2.2%|\n|Cost of goods sold|-130.4|-54.0%|-131.0|-55.4%|0.6|0.5%|\n|Gross profit|111.2|46.0%|105.5|44.6%|5.7|5.4%|\n|Operating expenses|-55.8|-23.1%|-56.3|-23.8%|0.5|0.9%|\n|Segment operating earnings|$55.4|22.9%|$49.2|20.8%|$6.2|12.6%|\n", + "Segment net sales of $241.6 million in the fourth quarter of 2012 increased $5.1 million, or 2.2%, from 2011 levels.", + "Excluding $1.6 million of unfavorable foreign currency translation, organic sales increased $6.7 million, or 2.9%, including low single-digit gains in both sales of diagnostics and repair information products to repair shop owners and managers and sales to OEM dealerships." + ], + "question_id": "simplong-test-365", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the percentage change in share-based compensation expense between 2011 and 2012?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except per Share Amounts) common stock.", + "The Series B Preferred Stock may be converted at our option if the closing price of our common stock multiplied by the conversion rate in effect at that time equals or exceeds 130% of the liquidation preference for 20 trading days during any consecutive 30 trading day period.", + "Holders of the Series B Preferred Stock will be entitled to an adjustment to the conversion rate if they convert their shares in connection with a fundamental change satisfying certain specified conditions.", + "The Series B Preferred Stock is junior to all of our existing and future debt obligations and senior to our common stock with respect to payments of dividends and rights upon liquidation, winding up or dissolution, to the extent of the liquidation preference.", + "The number of shares outstanding, conversion rates and corresponding conversion prices and conversion shares for our Series B Preferred Stock are listed below.", + "||December 31,|\n||2012|2011|2010|\n|Shares outstanding (actual number)|221,474|221,474|221,474|\n|Conversion rate per share|76.2197|74.4500|73.1904|\n|Conversion price|$13.12|$13.43|$13.66|\n|Conversion shares|16.9|16.5|16.2|\n", + "During 2012 and 2011, the conversion rate per share for our Series B Preferred Stock was adjusted as a result of the cumulative effect of certain cash dividends declared and paid on our common stock during the year, which resulted in a corresponding adjustment of the conversion price and conversion shares.", + "In 2010, we launched a tender offer and purchased 303,526 shares (actual number) of our Series B Preferred Stock for cash for an aggregate purchase price of $267.6.", + "The aggregate purchase price was calculated as the number of shares tendered multiplied by the purchase price of $869.86 per share plus unpaid dividends of $1.9, which were prorated for the period the tendered shares were outstanding, and transaction costs directly associated with the repurchase.", + "The carrying value of the tendered shares was $293.3 and was determined based on the number of shares tendered multiplied by the liquidation preference, less the pro-rata amount of issuance costs associated with the original issuance of the preferred stock.", + "A benefit of $25.7, representing the excess carrying value of the tendered shares over consideration from the repurchase, was recorded as an adjustment to additional paid-in capital.", + "Additionally, the pro-rata amount of issuance costs of $10.2 was recorded as an adjustment to additional paid-in capital.", + "The terms of our Series B Preferred Stock do not permit us to pay dividends on our common stock unless all accumulated and unpaid dividends on the Series B Preferred Stock have been or contemporaneously are declared and paid, or provision for the payment thereof has been made.", + "We declared annual dividends of $52.50 per share, or $11.6, $11.6 and $15.6, on our Series B Preferred Stock during 2012, 2011 and 2010, respectively.", + "Regular quarterly dividends, if declared, are $13.125 per share.", + "Dividends on each share of Series B Preferred Stock are payable quarterly in cash or, if certain conditions are met, in common stock, at our option on January 15, April 15, July 15 and October 15, or the next business date if these dates fall on the weekend or a holiday, of each year.", + "Dividends on our Series B Preferred Stock are cumulative from the date of issuance and are payable on each payment date to the extent that we have assets that are legally available to pay dividends and our Board of Directors, or an authorized committee of our Board, declares a dividend payable.", + "The terms of the Series B Preferred Stock include an embedded derivative instrument, the fair value of which as of December 31, 2012 and 2011 was negligible.", + "The Series B Preferred Stock is not considered a security with participation rights in earnings available to IPG common stockholders due to the contingent nature of the conversion feature of these securities.", + "was estimated on the date of the grant using a Monte-Carlo simulation method.", + "The assumptions related to this grant included expected volatility of 84.81 percent, expected dividend yield of 1.00 percent, and an expected term of 4.0 years based on the vesting term of the market condition.", + "The risk-free rate is consistent with the assumption used to value stock options.", + "For all other grants that vest solely upon a service condition, the fair value of the awards is estimated based upon the fair value of the underlying shares on the date of the grant.", + "Restricted stock award and unit activity for 2011, 2010 and 2009 is summarized as follows:", + "||Numberof Shares| Weighted-Average GrantDate Fair Value||\n|Non-vested at December 31, 2008||4,123,911|$27.67|\n|Granted||3,100,415|2.87|\n|Vested||-804,229|16.39|\n|Forfeited||-455,503|16.47|\n|Non-vested at December 31, 2009||5,964,594|$17.15|\n|Granted||1,166,968|6.96|\n|Vested||-936,412|34.00|\n|Forfeited||-1,264,706|15.97|\n|Non-vested at December 31, 2010||4,930,444|$12.13|\n|Granted||2,705,834|6.66|\n|Vested||-1,206,373|23.36|\n|Forfeited||-149,545|12.93|\n|Non-vested at December 31, 2011||6,280,360|$7.60|\n", + "As of December 31, 2011, the pre-tax amount of non-vested stock options and restricted stock awards and units not yet recognized was $31 million, which will be recognized over a weighted-average period of 1.4 years.", + "No share-based compensation costs were capitalized during the years ended December 31, 2011, 2010 and 2009.", + "Regions issued approximately 867 thousand, 799 thousand, and 638 thousand of cash-settled restricted stock units during 2011, 2010, and 2009, respectively.", + "NOTE 17.", + "EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Regions has a defined-benefit pension plan (the \u201cpension plan\u201d) covering only certain employees as the pension plan is closed to new entrants.", + "Benefits under the pension plan are based on years of service and the employee\u2019s highest five years of compensation during the last ten years of employment.", + "Regions\u2019 funding policy is to contribute annually at least the amount required by Internal Revenue Service minimum funding standards.", + "Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.", + "The Company also sponsors a supplemental executive retirement program (the \u201cSERP\u201d), which is a non-qualified plan that provides certain senior executive officers defined benefits in relation to their compensation.", + "Regions also sponsors defined-benefit postretirement health care plans that cover certain retired employees.", + "For these certain employees retiring before normal retirement age, the Company currently pays a portion of the costs of certain health care benefits until the retired employee becomes eligible for Medicare.", + "Certain retirees, participating in plans of acquired entities, are offered a Medicare supplemental benefit.", + "The plan is contributory and contains other cost-sharing features such as deductibles and co-payments.", + "Retiree health care benefits, as well as similar benefits for active employees, are provided through a self-insured program in which Company and retiree costs are based on the amount of benefits paid.", + "The Company\u2019s policy is to fund the Company\u2019s share of the cost of health care benefits in amounts determined at the discretion of management.", + "Postretirement life insurance is also provided to a grandfathered group of employees and retirees.", + "Actuarially determined pension expense is charged to current operations using the projected unit credit method.", + "All defined-benefit plans are referred to as \u201cthe plans\u201d throughout the remainder of this footnote.", + "Mortgage Income Mortgage income is generated through the origination and servicing of residential mortgage loans for long-term investors and sales of residential mortgage loans in the secondary market.", + "The decrease in mortgage income during 2018 compared to 2017 was due to lower production, tighter margins and a reduction in the valuation of mortgage servicing rights and related hedges.", + "The decreases were partially offset by increases in mortgage servicing income as a result of purchasing the rights to service a total of approximately $6.1 billion in residential mortgage loans during 2018.", + "See Note 7 \"Servicing of Financial Assets\" to the consolidated financial statements for more information.", + "Investment Services Fee Income Investment services fee income represents income earned through investment advisory services, the primary revenue streams of which include sales of annuity and brokerage products.", + "The increase in investment services fees during 2018 compared to 2017 was driven primarily by improved productivity as the result of hiring additional financial advisors.", + "Bank-owned Life Insurance Bank-owned life insurance decreased in 2018 compared to 2017 primarily due to reduced claims benefits throughout the year, as well as valuation declines in the fourth quarter of 2018 related to market volatility.", + "Securities Gains, net Net securities gains primarily result from the Company's asset/liability management process and the sale of certain securities held for employee benefit purposes.", + "See Note 4 \"Securities\" to the consolidated financial statements for more information.", + "Market Value Adjustments on Employee Benefit Assets Market value adjustments on employee benefit assets, both defined benefit and other, are the reflection of market value variations related to assets held for certain employee benefits.", + "The adjustments reported as employee benefit assets - other are offset in salaries and benefits expense.", + "Other Miscellaneous Income Other miscellaneous income includes net revenue from affordable housing, valuation adjustments to equity investments, fees from safe deposit boxes, check fees and other miscellaneous income.", + "Net revenue from affordable housing includes actual gains and losses resulting from the sale of affordable housing investments, cash distributions from the investments and any related impairment charges.", + "Other miscellaneous income increased in 2018 compared to 2017 primarily due to net gains associated with the sale of certain low income housing tax credit investments, increases in the value of equity investments, and decreases in net impairment charges related to certain operating lease assets.", + "NON-INTEREST EXPENSE Table 6\u2014Non-Interest Expense from Continuing Operations", + "||Year Ended December 31|Change 2018 vs. 2017|\n||2018|2017|2016|Amount|Percent|\n||(Dollars in millions)|\n|Salaries and employee benefits|$1,947|$1,874|$1,842|$73|3.9%|\n|Net occupancy expense|335|339|342|-4|-1.2%|\n|Furniture and equipment expense|325|326|312|-1|-0.3%|\n|Outside services|187|172|154|15|8.7%|\n|Professional, legal and regulatory expenses|119|93|92|26|28.0%|\n|Marketing|92|93|101|-1|-1.1%|\n|FDIC insurance assessments|85|108|99|-23|-21.3%|\n|Branch consolidation, property and equipment charges|11|22|58|-11|-50.0%|\n|Visa class B shares expense|10|19|15|-9|-47.4%|\n|Provision (credit) for unfunded credit losses|-2|-16|17|14|-87.5%|\n|Loss on early extinguishment of debt|\u2014|\u2014|14|\u2014|NM|\n|Other miscellaneous expenses|461|461|437|\u2014|\u2014%|\n||$3,570|$3,491|$3,483|$79|2.3%|\n", + "unrealized gains and losses on cash flow hedges, unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions.", + "Treasury Stock \u2013 We account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders\u2019 equity.", + "We reissue common stock held in treasury only for limited purposes.", + "Noncontrolling Interest \u2013 In 2011, we made an investment in a company in which we acquired a controlling financial interest, but not 100 percent of the equity.", + "In 2013, we purchased additional shares of the company from the minority shareholders.", + "Further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements.", + "Accounting Pronouncements \u2013 Effective January 1, 2013, we adopted the FASB\u2019s Accounting Standard Updates (ASUs) requiring reporting of amounts reclassified out of accumulated other comprehensive income (OCI) and balance sheet offsetting between derivative assets and liabilities.", + "These ASUs only change financial statement disclosure requirements and therefore do not impact our financial position, results of operations or cash flows.", + "See Note 12 for disclosures relating to OCI.", + "See Note 13 for disclosures relating to balance sheet offsetting.", + "There are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.3.", + "SHARE-BASED COMPENSATION Our share-based payments primarily consist of stock options, restricted stock, restricted stock units (RSUs), and an employee stock purchase plan.", + "Share-based compensation expense is as follows (in millions):", + "|For the Years Ended December 31,|2013|2012|2011|\n|Stock options|$24.7|$32.4|$41.7|\n|RSUs and other|23.8|22.6|18.8|\n|Total expense, pre-tax|48.5|55.0|60.5|\n|Tax benefit related to awards|-15.6|-16.6|-17.8|\n|Total expense, net of tax|$32.9|$38.4|$42.7|\n", + "Share-based compensation cost capitalized as part of inventory for the years ended December 31, 2013, 2012 and 2011 was $4.1 million, $6.1 million, and $8.8 million, respectively.", + "As of December 31, 2013 and 2012, approximately $2.4 million and $3.3 million of capitalized costs remained in finished goods inventory.", + "Stock Options We had two equity compensation plans in effect at December 31, 2013: the 2009 Stock Incentive Plan (2009 Plan) and the Stock Plan for Non-Employee Directors.", + "The 2009 Plan succeeded the 2006 Stock Incentive Plan (2006 Plan) and the TeamShare Stock Option Plan (TeamShare Plan).", + "No further awards have been granted under the 2006 Plan or under the TeamShare Plan since May 2009, and shares remaining available for grant under those plans have been merged into the 2009 Plan.", + "Vested and unvested stock options and unvested restricted stock and RSUs previously granted under the 2006 Plan, the TeamShare Plan and another prior plan, the 2001 Stock Incentive Plan, remained outstanding as of December 31, 2013.", + "We have reserved the maximum number of shares of common stock available for award under the terms of each of these plans.", + "We have registered 57.9 million shares of common stock under these plans.", + "The 2009 Plan provides for the grant of nonqualified stock options and incentive stock options, long-term performance awards in the form of performance shares or units, restricted stock, RSUs and stock appreciation rights.", + "The Compensation and Management Development Committee of the Board of Directors determines the grant date for annual grants under our equity compensation plans.", + "The date for annual grants under the 2009 Plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year.", + "The Stock Plan for Non-Employee Directors provides for awards of stock options, restricted stock and RSUs to non-employee directors.", + "It has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares, except in limited circumstances where they are issued from treasury stock.", + "The total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited.", + "At December 31, 2013, an aggregate of 10.4 million shares were available for future grants and awards under these plans.", + "Stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years.", + "As established under our equity compensation plans, vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met.", + "We recognize expense related to stock options on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates.", + "Due to the accelerated retirement provisions, the requisite service period of our stock options range from one to four years.", + "Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise." + ], + "question_id": "simplong-test-366", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Private equity/venture capital of December 31, 2010, and Operating profit of 2015 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "As of December 31, 2017, we had $1.238 billion of gross unrecognized tax benefits, of which a net $1.150 billion, if recognized, would affect our effective tax rate.", + "As of December 31, 2016, we had $1.095 billion of gross unrecognized tax benefits, of which a net $1.006 billion, if recognized, would affect our effective tax rate.", + "As of December 31, 2015, we had $1.056 billion of gross unrecognized tax benefits, of which a net $900 million, if recognized, would affect our effective tax rate.", + "A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:", + "||Year Ended December 31,|\n|(in millions)|2017|2016|2015|\n|Beginning Balance|$1,095|$1,056|$1,047|\n|Additions based on positions related to the current year|134|47|32|\n|Additions based on positions related to prior years|16|14|38|\n|Reductions for tax positions of prior years|-3|-17|-36|\n|Settlements with taxing authorities|-2|-3|-18|\n|Statute of limitation expirations|-2|-2|-7|\n|Ending Balance|$1,238|$1,095|$1,056|\n", + "We are subject to U. S. Federal income tax as well as income tax of multiple state and foreign jurisdictions.", + "We have concluded all U. S. federal income tax matters through 2000, all foreign income tax matters through 2002 and substantially all material state and local income tax matters through 2005.", + "We have received Notices of Deficiency from the Internal Revenue Service (IRS) reflecting proposed audit adjustments for Guidant Corporation for its 2001 through 2006 tax years and Boston Scientific Corporation for its 2006 and 2007 tax years.", + "The total incremental tax liability asserted by the IRS for the applicable periods is $1.162 billion plus interest.", + "The primary issue in dispute for all years is the transfer pricing associated with the technology license agreements between domestic and foreign subsidiaries of Guidant.", + "In addition, the IRS has proposed adjustments in connection with the financial terms of our Transaction Agreement with Abbott Laboratories pertaining to the sale of Guidant's vascular intervention business to Abbott Laboratories in April 2006.", + "During 2014, we received a Revenue Agent Report from the IRS reflecting significant proposed audit adjustments to our 2008, 2009 and 2010 tax years based upon the same transfer pricing methodologies that the IRS applied to our 2001 through 2007 tax years.", + "We do not agree with the transfer pricing methodologies applied by the IRS or its resulting assessment.", + "We have filed petitions with the U. S. Tax Court contesting the Notices of Deficiency for the 2001 through 2007 tax years in challenge and submitted a letter to the IRS Office of Appeals protesting the Revenue Agent Report for the 2008 through 2010 tax years and requesting an administrative appeal hearing.", + "The issues in dispute were scheduled to be heard in U. S. Tax Court in July 2016.", + "On July 19, 2016, we entered into a Stipulation of Settled Issues with the IRS intended to resolve all of the aforementioned transfer pricing issues, as well as the issues related to our transaction with Abbott Laboratories, for the 2001 through 2007 tax years.", + "The Stipulation of Settled Issues is contingent upon the IRS Office of Appeals applying the same basis of settlement to all transfer pricing issues for the Company\u2019s 2008, 2009 and 2010 tax years as well as review by the United States Congress Joint Committee on Taxation.", + "In October 2016, we reached an agreement in principle with IRS Office of Appeals as to the resolution of transfer pricing issues in 2008, 2009 and 2010 tax years, subject to additional calculations of tax as well as documentation to memorialize our agreement.", + "In the event that the conditions in the Stipulation of Settled Items are satisfied, we expect to make net tax payments of approximately $275 million, plus interest through the date of payment with respect to the settled issues.", + "If finalized, payments related to the resolution are expected in the next six months.", + "We believe that our income tax reserves associated with these matters are adequate as of December 31, 2017 and we do not expect to recognize any additional charges related to resolution of this controversy.", + "However, the final resolution of these issues is contingent and if the Stipulation of Settled Issues is not finalized, it could have a material impact on our financial condition, results of operations, or cash flows.", + "We recognize interest and penalties related to income taxes as a component of income tax expense.", + "We had $655 million accrued for gross interest and penalties as of December 31, 2017 and $572 million as of December 31, 2016.", + "The increase in gross interest and penalties of $83 million was recognized in our consolidated statements of operations.", + "We recognized net tax expense related to interest and penalties of $154 million in 2017, $46 million in 2016 and $37 million in 2015.", + "The increase in our net tax expense related to interest and penalties as of December 31, 2017, as compared to December 31, 2016, is primarily attributable to re\u0002measuring the future tax benefit of our accrued interest as a result of the TCJA.", + "segment includes AWE and our share of earnings for our investment in ULA, which provides expendable launch services to the U. S. Government.", + "Space Systems\u2019 operating results included the following (in millions):", + "||2016|2015|2014|\n|Net sales|$9,409|$9,105|$9,202|\n|Operating profit|1,289|1,171|1,187|\n|Operating margin|13.7%|12.9%|12.9%|\n|Backlog atyear-end|$18,900|$17,400|$20,300|\n", + "2016 compared to 2015 Space Systems\u2019 net sales in 2016 increased $304 million, or 3%, compared to 2015.", + "The increase was attributable to net sales of approximately $410 million from AWE following the consolidation of this business in the third quarter of 2016; and approximately $150 million for commercial space transportation programs due to increased launch-related activities; and approximately $70 million of higher net sales for various programs (primarily Fleet Ballistic Missiles) due to increased volume.", + "These increases were partially offset by a decrease in net sales of approximately $340 million for government satellite programs due to decreased volume (primarily SBIRS and MUOS) and the wind-down or completion of mission solutions programs.", + "Space Systems\u2019 operating profit in 2016 increased $118 million, or 10%, compared to 2015.", + "The increase was primarily attributable to a non-cash, pre-tax gain of approximately $127 million related to the consolidation of AWE; and approximately $80 million of increased equity earnings from joint ventures (primarily ULA).", + "These increases were partially offset by a decrease of approximately $105 million for government satellite programs due to lower risk retirements (primarily SBIRS, MUOS and mission solutions programs) and decreased volume.", + "Adjustments not related to volume, including net profit booking rate adjustments, were approximately $185 million lower in 2016 compared to 2015.2015 compared to 2014 Space Systems\u2019 net sales in 2015 decreased $97 million, or 1%, compared to 2014.", + "The decrease was attributable to approximately $335 million lower net sales for government satellite programs due to decreased volume (primarily AEHF) and the wind-down or completion of mission solutions programs; and approximately $55 million for strategic missile and defense systems due to lower volume.", + "These decreases were partially offset by higher net sales of approximately $235 million for businesses acquired in 2014; and approximately $75 million for the Orion program due to increased volume.", + "Space Systems\u2019 operating profit in 2015 decreased $16 million, or 1%, compared to 2014.", + "Operating profit increased approximately $85 million for government satellite programs due primarily to increased risk retirements.", + "This increase was offset by lower operating profit of approximately $65 million for commercial satellite programs due to performance matters on certain programs; and approximately $35 million due to decreased equity earnings in joint ventures.", + "Adjustments not related to volume, including net profit booking rate adjustments and other matters, were approximately $105 million higher in 2015 compared to 2014.", + "Equity earnings Total equity earnings recognized by Space Systems (primarily ULA) represented approximately $325 million, $245 million and $280 million, or 25%, 21% and 24% of this business segment\u2019s operating profit during 2016, 2015 and 2014.", + "Backlog Backlog increased in 2016 compared to 2015 primarily due to the addition of AWE\u2019s backlog.", + "Backlog decreased in 2015 compared to 2014 primarily due to lower orders for government satellite programs and the Orion program and higher sales on the Orion program.", + "Trends We expect Space Systems\u2019 2017 net sales to decrease in the mid-single digit percentage range as compared to 2016, driven by program lifecycles on government satellite programs, partially offset by the recognition of AWE net sales for a full year in 2017 versus a partial year in 2016 following the consolidation of AWE in the third quarter of 2016.", + "Operating profit", + "(2) The following table shows the amounts of other venture capital investments held by the following consolidated funds and amounts attributable to SVBFG for each fund at December 31, 2014 , 2013 and 2012 :", + "||December 31,|\n||2014|2013|2012|\n|(Dollars in thousands)|Carrying value(as reported)|Amount attributableto SVBFG|Carrying value(as reported)|Amount attributableto SVBFG|Carrying value(as reported)|Amount attributableto SVBFG|\n|Silicon Valley BancVentures, LP|$3,291|$352|$6,564|$702|$43,493|$4,652|\n|SVB Capital Partners II, LP|20,481|1,040|22,684|1,152|79,761|4,051|\n|Capital Partners III, LP|41,055|\u2014|\u2014|\u2014|\u2014|\u2014|\n|SVB Capital Shanghai Yangpu Venture Capital Fund|6,377|431|3,591|243|3,837|259|\n|Total other venture capital investments|$71,204|$1,823|$32,839|$2,097|$127,091|$8,962|\n", + "(3) Investments classified as other securities (fair value accounting) represent direct equity investments in public companies held by our consolidated funds.", + "At December 31, 2014 , the amount primarily includes total unrealized gains of $75 million in one public company, FireEye.", + "The extent to which any unrealized gains (or losses) will become realized is subject to a variety of factors, including, among other things, changes in prevailing market prices and the timing of any sales or distribution of securities and may also be constrained by lock-up agreements.", + "None of the FireEye related investments currently are subject to a lock-up agreement.", + "Loans The following table details the composition of the loan portfolio, net of unearned income, as of the five most recent year-ends:", + "||December 31,|\n|(Dollars in thousands)|2014|2013|2012|2011|2010|\n|Commercial loans:||||||\n|Software and internet -1|$4,954,676|$4,102,636|$3,261,489|$2,492,849|$1,820,680|\n|Hardware -1|1,131,006|1,213,032|1,118,370|952,303|641,052|\n|Private equity/venture capital|4,582,906|2,386,054|1,732,699|1,117,419|1,036,201|\n|Life science & healthcare -1|1,289,904|1,170,220|1,066,199|863,737|575,944|\n|Premium wine|187,568|149,841|143,511|130,245|144,972|\n|Other -1|234,551|288,904|315,453|342,147|375,928|\n|Total commercial loans|12,380,611|9,310,687|7,637,721|5,898,700|4,594,777|\n|Real estate secured loans:||||||\n|Premium wine -2|606,753|514,993|413,513|345,988|312,255|\n|Consumer loans -3|1,118,115|873,255|685,300|534,001|361,704|\n|Other|39,651|30,743|\u2014|\u2014|\u2014|\n|Total real estate secured loans|1,764,519|1,418,991|1,098,813|879,989|673,959|\n|Construction loans -4|78,626|76,997|65,742|30,256|60,178|\n|Consumer loans|160,520|99,711|144,657|161,137|192,823|\n|Total loans, net of unearned income -5(6)|$14,384,276|$10,906,386|$8,946,933|$6,970,082|$5,521,737|\n", + "(1) Because of the diverse nature of energy and resource innovation products and services, for our loan-related reporting purposes, ERI-related loans are reported under our hardware, software and internet, life science & healthcare and other commercial loan categories, as applicable.", + "(2) Included in our premium wine portfolio are gross construction loans of $112 million , $112 million , $148 million , $111 million and $119 million at December 31, 2014 , 2013 , 2012 , 2011 and 2010 , respectively.", + "(3) Consumer loans secured by real estate at December 31, 2014 , 2013 , 2012 , 2011 and 2010 were comprised of the following:" + ], + "question_id": "simplong-test-367", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will Inventories be like in 2015 if it develops with the same increasing rate as current? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of 3.", + "DISCONTINUED OPERATIONS During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment.", + "This business has been accounted for as a discontinued operation.", + "In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of \u20ac590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share).", + "The sale proceeds included \u20ac110 million ($144) that was contingent on the outcome of certain retender arrangements.", + "These proceeds were reflected in payables and accrued liabilities on our consolidated balance sheet as of 30 September 2013.", + "Based on the outcome of the retenders, we were contractually required to return proceeds to The Linde Group.", + "In the fourth quarter of 2014, we made a payment to settle this liability and recognized a gain of $1.5.", + "During the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business, which was primarily in the United Kingdom and Ireland, to its estimated net realizable value.", + "In the fourth quarter of 2013, an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) was recorded to update our estimate of the net realizable value.", + "In the first quarter of 2014, we sold the remaining portion of the Homecare business for \u00a1\u00ea6.1 million ($9.8) and recorded a gain on sale of $2.4.", + "We entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction.", + "Refer to Note 16, Commitments and Contingencies, for additional information.", + "The results of discontinued operations are summarized below:", + "||2014|2013|2012|\n|Sales|$8.5|$52.3|$258.0|\n|Income before taxes|$.7|$3.8|$68.1|\n|Income tax provision|\u2014|.2|20.8|\n|Income from operations of discontinued operations|.7|3.6|47.3|\n|Gain (Loss) on sale of business and impairment/write-down, net of tax|3.9|-13.6|120.8|\n|Income (Loss) from Discontinued Operations, net of tax|$4.6|$-10.0|$168.1|\n", + "The assets and liabilities classified as discontinued operations for the Homecare business at 30 September 2013 consisted of $2.5 in trade receivables, net, and $2.4 in payables and accrued liabilities.", + "As of 30 September 2014, no assets or liabilities were classified as discontinued operations.", + "D. R. HORTON, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) The Company measures and recognizes compensation expense at an amount equal to the fair value of share-based payments granted under compensation arrangements.", + "The weighted average fair value of options granted in fiscal 2014 and 2013 was $11.21 per share and $10.92 per share, respectively.", + "The fair values of the options granted were estimated on the date of their grant using the Black-Scholes option pricing model based on the following weighted average assumptions:", + "||Year Ended September 30,|\n||2014|2013|2012|\n|Risk free interest rate|2.01%|1.13%|\u2014|\n|Expected life (in years)|6.48|6.46|\u2014|\n|Expected volatility|48.80%|49.30%|\u2014|\n|Expected dividend yield|0.63%|0.63%|\u2014|\n", + "For fiscal 2014, 2013 and 2012, the Company\u2019s compensation expense related to stock option grants was $25.5 million, $18.6 million and $15.1 million, respectively, and at September 30, 2014, there was $71.7 million of total unrecognized compensation expense related to unvested stock option awards.", + "This expense is expected to be recognized over a weighted average period of 3.75 years.", + "Incentive Bonus Plan The Company's Incentive Bonus Plan provides for the Compensation Committee to award short-term performance bonuses to senior management based upon the level of achievement of certain criteria.", + "For fiscal 2014, 2013 and 2012 the Compensation Committee approved awards whereby certain executive officers could earn performance bonuses based upon percentages of the Company's pre-tax income.", + "Compensation expense related to these plans was $11.8 million, $9.8 million and $4.9 million in fiscal 2014, 2013 and 2012, respectively.", + "Restricted Stock Unit Agreement The Company has a Restricted Stock Unit Agreement (RSU Agreement) for awards to certain executive officers, other key employees and non-management directors pursuant to the Stock Incentive Plan.", + "Under the RSU Agreement, the Compensation Committee may award performance or service (time) based restricted stock units subject to the terms and conditions of the RSU Agreement and the Stock Incentive Plan.", + "In September 2010, the Compensation Committee approved and granted awards of 200,000 performance based restricted stock units (Performance RSUs) that vested at the end of a two-year performance period that ended September 30, 2012.", + "The number of units that vested depended on the Company's relative position as compared to its peers at the end of the two-year period in achieving certain performance criteria and ranged from 0% to 200% of the number of units granted.", + "The performance criteria were total shareholder return, return on investment, SG&A expense containment and gross profit.", + "Each Performance RSU represented the contingent right to receive one share of the Company's common stock if the vesting conditions were satisfied.", + "The Performance RSUs had no dividend or voting rights during the performance period.", + "The fair value of these awards on the date of grant was $11.53 per unit.", + "Based on the achievement of the performance criteria, 325,000 Performance RSUs were earned and vested on September 30, 2012.", + "Compensation expense for these awards was based on the Company's performance against the peer group, the elapsed portion of the performance period and the grant date fair value of the award.", + "Compensation expense for these awards was $2.6 million in fiscal 2012.", + "ITEM 6.", + "SELECTED FINANCIAL DATA The following selected consolidated financial data are derived from our Consolidated Financial Statements.", + "The data should be read in conjunction with Item 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d Item 1A, \u201cRisk Factors,\u201d Item 8, \u201cFinancial Statements and Supplementary Data,\u201d and all other financial data contained in this annual report on Form 10-K.", + "These historical results are not necessarily indicative of the results to be expected in the future.", + "||Year Ended September 30,|\n||2014|2013|2012|2011|2010|\n|||(In millions, except per share data)||\n|Operating Data:||||||\n|Revenues:||||||\n|Homebuilding|$7,858.5|$6,085.9|$4,236.2|$3,549.6|$4,309.7|\n|Financial Services|166.4|173.4|117.8|87.2|90.5|\n|Inventory and land option charges|85.2|31.1|6.2|45.4|64.7|\n|Gross profit \u2014 Homebuilding|1,589.9|1,232.4|743.8|526.3|682.1|\n|Income (loss) before income taxes:||||||\n|Homebuilding|768.8|592.3|203.7|-7.0|78.1|\n|Financial Services|45.4|65.5|39.2|19.1|21.4|\n|Income tax expense (benefit) (1) (2)|280.7|195.1|-713.4|-59.7|-145.6|\n|Net income|533.5|462.7|956.3|71.8|245.1|\n|Net income per share:||||||\n|Basic|1.57|1.44|3.01|0.23|0.77|\n|Diluted|1.50|1.33|2.77|0.23|0.77|\n|Cash dividends declared per common share|0.1375|0.1875|0.15|0.15|0.15|\n", + "September 30,", + "||September 30,|\n||2014|2013|2012|2011|2010|\n||(In millions)|\n|Balance Sheet Data:||||||\n|Cash and cash equivalents and marketable securities -3|$661.8|$977.4|$1,384.8|$1,068.1|$1,645.0|\n|Inventories|7,700.5|6,197.4|4,165.2|3,449.7|3,449.0|\n|Total assets|10,202.5|8,856.4|7,248.2|5,358.4|5,938.6|\n|Notes payable -4|3,682.8|3,509.0|2,493.1|1,704.6|2,171.8|\n|Total equity|5,119.7|4,061.4|3,594.7|2,623.5|2,622.9|\n", + "(1) The income tax benefit in fiscal 2012 reflects a $753.2 million reduction of our deferred tax asset valuation allowance during the year.", + "The income tax benefit in fiscal 2011 was due to receiving a favorable result from the Internal Revenue Service on a ruling request concerning capitalization of inventory costs, and the income tax benefit in fiscal 2010 resulted from a tax law change regarding net operating loss (NOL) carrybacks.", + "(2) At September 30, 2013 we recorded an out-of-period adjustment which increased both our deferred income taxes and the valuation allowance on our deferred income taxes by $23.9 million.", + "The out-of-period adjustment had no impact on our statement of operations during fiscal 2013.", + "Had deferred income taxes related to the state NOL carryforwards of each of our legal entities been reflected at state specific tax rates as of September 30, 2012, our deferred income taxes would have increased by $31.6 million and the corresponding valuation allowance on our deferred income taxes would have increased by $37.6 million.", + "This would have resulted in a decrease in our income tax benefit of $6.0 million in fiscal 2012, which would have reversed and decreased our income tax expense by $6.0 million in fiscal 2013.", + "The unadjusted amounts from fiscal 2012 were not material to our financial statements for fiscal 2012, and the out-of-period adjustment recorded in fiscal 2013 was not material to our financial statements for fiscal 2013.", + "(3) Cash balances of our captive insurance subsidiary, which are expected to be used to pay future anticipated legal claims, have been correctly presented within cash and cash equivalents rather than other assets as classified in prior years.", + "These balances were $40.9 million, $39.1 million, $37.9 million and $38.0 million at September 30, 2013, 2012, 2011 and 2010, respectively.", + "(4) Notes payable includes both homebuilding notes payable and the amount outstanding on our mortgage repurchase facility" + ], + "question_id": "simplong-test-368", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the estimated price of hologic common stock used in the transaction for biolucent acquisition?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "which resulted in charges for inventory write-downs, property and equipment impairments, employee termination benefits, intangible asset impairments and facility closure costs. ?", + "We ended fiscal 2011 with $1.1 billion of cash and cash equivalents, compared to $1.8 billion at the end of fiscal 2010.", + "Operating cash flow decreased to $1.2 billion in fiscal 2011 compared to fiscal 2010 operating cash flow of $2.2 billion due primarily to changes in working capital, while capital expenditures increased 21.0% to $744 million. ?", + "During fiscal 2011, we made four dividend payments totaling $0.58 per share, or $237 million in the aggregate. ?", + "We repurchased and retired 32.6 million shares at a cost of $1.2 billion during fiscal 2011.", + "Consolidated Results The following table presents selected consolidated financial data for each of the past three fiscal years ($ in millions, except per share amounts):", + "| Consolidated Performance Summary |2011 -1|2010 -2|2009 -3(4)|\n|Revenue|$50,272|$49,694|$45,015|\n|Revenue gain %|1.2%|10.4%|12.5%|\n|Comparable store sales % (decline) gain|-1.8%|0.6%|-1.3%|\n|Gross profit as % of revenue-5|25.1%|24.5%|24.4%|\n|SG&A as % of revenue-5|20.5%|19.9%|20.0%|\n|Operating income|$2,114|$2,235|$1,870|\n|Operating income as % of revenue|4.2%|4.5%|4.2%|\n|Net earnings|$1,277|$1,317|$1,003|\n|Diluted earnings per share|$3.08|$3.10|$2.39|\n", + "(1) Included within our operating income and net earnings for fiscal 2011 is $222 million ($147 million net of taxes) of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our businesses.", + "These charges resulted in a decrease in our operating income of 0.5% of revenue for the fiscal year.", + "(2) Included within our operating income and net earnings for fiscal 2010 is $52 million ($25 million net of taxes and noncontrolling interest) of restructuring charges recorded in the fiscal first quarter related to measures we took to restructure our businesses.", + "These charges resulted in a decrease in our operating income of 0.1% of revenue for the fiscal year.", + "(3) Included within our operating income and net earnings for fiscal 2009 is $78 million ($48 million net of tax) of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our businesses.", + "In addition, operating income is inclusive of goodwill and tradename impairment charges of $66 million ($64 net of tax) related to our former Speakeasy business.", + "Collectively, these charges resulted in a decrease in our operating income of 0.2% of revenue for the fiscal year.", + "(4) Included within our net earnings for fiscal 2009 is $111 million ($96 million net of tax) of investment impairment charges related to our investment in the common stock of CPW.", + "(5) Because retailers vary in how they record costs of operating their supply chain between cost of goods sold and SG&A, our gross profit rate and SG&A rate may not be comparable to other retailers\u2019 corresponding rates.", + "For additional information regarding costs classified in cost of goods sold and SG&A, refer to Note 1, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. Fiscal 2011 Results Compared With Fiscal 2010 Throughout fiscal 2011, the majority of geographic markets in which we operate generally continued to endure difficult and uncertain economic conditions.", + "In addition, customer appetite for certain product categories was below industry expectations.", + "Both of these factors had a direct bearing on our revenue.", + "We have responded to the current economic environment by closely managing our SG&A, as well as focusing on efforts to improve our gross profit.", + "The 1.2% revenue increase in fiscal 2011 resulted primarily from the net addition of 147 new stores during fiscal 2011 and the positive impact of foreign currency exchange rate fluctuations, partially offset by a comparable store sales decline.", + "The following table presents the Domestic segment\u2019s revenue mix percentages and comparable store sales percentage changes by revenue category in fiscal 2010 and 2009:", + "||Revenue Mix Summary Year Ended|Comparable Store Sales Summary Year Ended|\n||February 27, 2010|February 28, 2009|February 27, 2010|February 28, 2009|\n|Consumer electronics|39%|39%|1.1%|-5.8%|\n|Home office|34%|31%|12.8%|10.4%|\n|Entertainment|16%|19%|-13.2%|-5.9%|\n|Appliances|4%|5%|-4.2%|-15.4%|\n|Services|6%|6%|-1.1%|4.1%|\n|Other|1%|<1%|n/a|n/a|\n|Total|100%|100%|1.7%|-1.3%|\n", + "Our Domestic segment\u2019s comparable store sales gain in fiscal 2010 improved sequentially each quarter of the fiscal year due primarily to an increase in average ticket and reflected our market share gains.", + "The products having the largest effect on our Domestic segment\u2019s comparable store sales gain in fiscal 2010 were notebook computers, flat-panel televisions and mobile phones.", + "Stronger sales in these product categories were partially offset by comparable store sales declines in our entertainment revenue category.", + "Revenue from our Domestic segment\u2019s online operations increased 22% in fiscal 2010 and is incorporated in the table above.", + "The 1.1% comparable store sales gain in the consumer electronics revenue category was driven primarily by increases in the sales of flat-panel televisions as unit sales increases more than offset average selling price decreases, partially offset by declines in the sales of navigation products and MP3 players.", + "The 12.8% comparable store sales gain in the home office revenue category was primarily the result of continued growth in the sales of notebook computers, which benefited from the launch of a new operating system, as well as mobile phones, which included a full year of our Best Buy Mobile store\u0002within-a-store experience in all U. S. Best Buy stores, partially offset by declines in the sales of computer monitors.", + "The 13.2% comparable store sales decline in the entertainment revenue category was due principally to a decline in sales of video gaming, partially caused by industry-wide softness and a maturing product platform, as well as a continued decline in sales of DVDs and CDs.", + "The 4.2% comparable store sales decline in the appliances revenue category was due to a decrease in unit sales which more than offset increases in average selling prices.", + "The 1.1% comparable store sales decline in the services revenue category was due primarily to a decline in home theater installation, partially offset by modest increases in our sales of extended warranties.", + "Our Domestic segment experienced gross profit growth of $407 million in fiscal 2010, or 4.7% compared to fiscal 2009, due to increased revenue volumes.", + "The 0.4% of revenue decrease in the gross profit rate was due primarily to a change in revenue mix, which reduced the gross profit rate by 0.5% of revenue and resulted from a continued shift in the revenue mix to sales of lower-margin notebook computers, partially offset by additional mix shift into higher-margin mobile phones.", + "In addition, improved margin rate performance provided a 0.1% of revenue increase to the gross profit rate.", + "Despite revenue growth of 6.4%, our Domestic segment\u2019s SG&A grew only 3.1% or by $207 million.", + "Continued store openings and significant year over year performance improvements drove higher SG&A spend in fiscal 2010 for incentive pay, payroll and benefits and rent, partially offset by lower SG&A spend in various discretionary categories such as information technology and supply chain project expenditures, store reset and transformation costs, advertising and travel.", + "The 0.6% of revenue SG&A rate decline was primarily due to the reductions in discretionary categories discussed above, which collectively reduced the SG&A rate by 1.0% of revenue.", + "The overall leveraging impact of higher comparable store sales on payroll and benefits further reduced the SG&A rate by 0.2% of revenue.", + "However, we had higher incentive pay expense due to improvements in performance in fiscal 2010 and no incentive pay expense in the prior year, which collectively offset the SG&A rate improvement by 0.6% of revenue.", + "The following table reconciles our International segment stores open at the end of each of the last three fiscal years:", + "| | Fiscal 2009 Total Stores at End of Fiscal Year | Fiscal 2010| Fiscal 2011|\n| | Stores Opened |Stores Closed| Total Stores at End of Fiscal Year | Stores Opened |Stores Closed| Total Stores at End of Fiscal Year |\n|Best Buy Europe \u2014 small box-1|2,465|82|-94|2,453|86|-99|2,440|\n|Best Buy Europe \u2014 big box-2|\u2014|\u2014|\u2014|\u2014|6|\u2014|6|\n|Canada||||||||\n|Future Shop|139|5|\u2014|144|2|\u2014|146|\n|Best Buy|58|6|\u2014|64|7|\u2014|71|\n|Best Buy Mobile|3|1|\u2014|4|6|\u2014|10|\n|China||||||||\n|Five Star|164|6|-12|158|12|-4|166|\n|Best Buy-3|5|1|\u2014|6|2|\u2014|8|\n|Mexico||||||||\n|Best Buy|1|4|\u2014|5|1|\u2014|6|\n|Turkey||||||||\n|Best Buy-3|\u2014|1|\u2014|1|1|\u2014|2|\n|Total International segment stores|2,835|106|-106|2,835|123|-103|2,855|\n", + "(1) Represents The Carphone Warehouse and The Phone House small-format stores.", + "(2) Represents Best Buy branded large-format stores in the U. K. (3) On February 21, 2011, we announced plans to exit the Turkey market and restructure the Best Buy branded stores in China during fiscal 2012.", + "Fiscal 2011 Results Compared With Fiscal 2010 While challenging economic conditions persisted in fiscal 2011 in many of the countries in which we operate, our International segment continued to grow revenue and experienced a comparable store sales gain for the year.", + "A decline in operating income was due principally to the impact of the restructuring activities in fiscal 2011.", + "Excluding the impact of foreign currency exchange rate fluctuations, the International segment experienced gross profit improvements with only a modest increase in SG&A.", + "Continued growth in consumer spending and temporary government stimulus programs contributed to stronger sales and improved operating income in our China operations, particularly in our Five Star business.", + "Our Canada operations faced many of the same market conditions and factors affecting the U. S. consumer electronics industry, with the adoption of new technology and the timing of product life-cycles continuing to play an important role in revenue trends.", + "Similarly, our Europe operations saw the impacts from a constrained economy, but continued to benefit from higher Best Buy Mobile profit share-based management fees paid in fiscal 2011.", + "The 5.7% increase in revenue for fiscal 2011 was due to the positive impact of foreign currency exchange rate fluctuations (mainly related to the Canadian dollar), the impact of net new stores opened during fiscal 2011, and a 2.4% comparable store sales gain, partially offset by the impact of having one less week of revenue in Europe and a decline in sales in non\u0002comparable sales channels.", + "The increase in comparable store sales in fiscal 2011 was the result of gains in China and Europe, partially offset by a decline in Canada.", + "Hologic, Inc. Notes to Consolidated Financial Statements (continued) (In thousands, except per share data) Fiscal 2007 Acquisition: Acquisition of BioLucent, Inc. On September 18, 2007 the Company completed the acquisition of BioLucent, Inc. (\u201cBioLucent\u201d) pursuant to a definitive agreement dated June 20, 2007.", + "The results of operations for BioLucent have been included in the Company\u2019s consolidated financial statements from the date of acquisition as part of its Mammography/Breast Care business segment.", + "The Company has concluded that the acquisition of BioLucent does not represent a material business combination and therefore no pro forma financial information has been provided herein.", + "BioLucent, previously located in Aliso Viejo, California, develops, markets and sells MammoPad breast cushions to decrease the discomfort associated with mammography.", + "Prior to the acquisition, BioLucent\u2019s primary research and development efforts were directed at its brachytherapy business which was focused on breast cancer therapy.", + "Prior to the acquisition, BioLucent spun-off its brachytherapy technology and business to the holders of BioLucent\u2019s outstanding shares of capital stock.", + "As a result, the Company only acquired BioLucent\u2019s MammoPad cushion business and related assets.", + "The Company invested $1,000 directly in the spun-off brachytherapy business in exchange for shares of preferred stock issued by the new business.", + "The aggregate purchase price for BioLucent was approximately $73,200, consisting of approximately $6,800 in cash and 2,314 shares of Hologic Common Stock valued at approximately $63,200, debt assumed and paid off of approximately $1,600 and approximately $1,600 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.", + "The acquisition also provides for up to two annual earn-out payments not to exceed $15,000 in the aggregate based on BioLucent\u2019s achievement of certain revenue targets.", + "The Company has considered the provision of EITF Issue No.95-8, Accounting for Contingent Consideration Paid to the Shareholders of an Acquired Enterprise in a Purchase Business Combination, and concluded that this contingent consideration will represent additional purchase price.", + "As a result, goodwill will be increased by the amount of the additional consideration, if any, when it becomes due and payable.", + "As of September 27, 2008, the Company has not recorded any amounts for these potential earn-outs.", + "The allocation of the purchase price is based upon estimates of the fair value of assets acquired and liabilities assumed as of September 18, 2007.", + "The components and allocation of the purchase price consists of the following approximate amounts:" + ], + "question_id": "simplong-test-369", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Commission and brokerage in the year with the most Incurred losses and LAE?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Note 8\u2014Commitments and Contingencies (Continued) The following table reconciles changes in the Company\u2019s accrued warranties and related costs (in millions):", + "||2007|2006|2005|\n|Beginning accrued warranty and related costs|$284|$188|$105|\n|Cost of warranty claims|-281|-267|-188|\n|Accruals for product warranties|227|363|271|\n|Ending accrued warranty and related costs|$230|$284|$188|\n", + "The Company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights.", + "Other agreements entered into by the Company sometimes include indemnification provisions under which the Company could be subject to costs and/or damages in the event of an infringement claim against the Company or an indemnified third-party.", + "However, the Company has not been required to make any significant payments resulting from such an infringement claim asserted against itself or an indemnified third-party and, in the opinion of management, does not have a potential liability related to unresolved infringement claims subject to indemnification that would have a material adverse effect on its financial condition or operating results.", + "Therefore, the Company did not record a liability for infringement costs as of either September 29, 2007 or September 30, 2006.", + "Concentrations in the Available Sources of Supply of Materials and Product Certain key components including, but not limited to, microprocessors, enclosures, certain LCDs, certain optical drives, and application-specific integrated circuits (\u2018\u2018ASICs\u2019\u2019) are currently obtained by the Company from single or limited sources which subjects the Company to supply and pricing risks.", + "Many of these and other key components that are available from multiple sources including, but not limited to, NAND flash memory, DRAM memory, and certain LCDs, are at times subject to industry-wide shortages and significant commodity pricing fluctuations.", + "In addition, the Company has entered into certain agreements for the supply of critical components at favorable pricing, and there is no guarantee that the Company will be able to extend or renew these agreements when they expire.", + "Therefore, the Company remains subject to significant risks of supply shortages and/or price increases that can adversely affect gross margins and operating margins.", + "In addition, the Company uses some components that are not common to the rest of the global personal computer, consumer electronics and mobile communication industries, and new products introduced by the Company often utilize custom components obtained from only one source until the Company has evaluated whether there is a need for and subsequently qualifies additional suppliers.", + "If the supply of a key single-sourced component to the Company were to be delayed or curtailed, or in the event a key manufacturing vendor delays shipments of completed products to the Company, the Company\u2019s ability to ship related products in desired quantities and in a timely manner could be adversely affected.", + "The Company\u2019s business and financial performance could also be adversely affected depending on the time required to obtain sufficient quantities from the original source, or to identify and obtain sufficient quantities from an alternative source.", + "Continued availability of these components may be affected if producers were to decide to concentrate on the production of common components instead of components customized to meet the Company\u2019s requirements.", + "Finally, significant portions of the Company\u2019s CPUs, iPods, iPhones, logic boards, and other assembled products are now manufactured by outsourcing partners, primarily in various parts of Asia.", + "A significant concentration of this outsourced manufacturing is currently performed by only a few of the Company\u2019s outsourcing partners, often in single locations.", + "Certain of these outsourcing partners are the sole-sourced supplier of components and manufacturing outsourcing for many of the Company\u2019s key products, including but not limited to, assembly", + "substances, including asbestos (i. e. A&E).", + "The Company\u2019s asbestos claims typically involve potential liability for bodily injury from exposure to asbestos or for property damage resulting from asbestos or products containing asbestos.", + "The Company\u2019s environmental claims typically involve potential liability for (a) the mitigation or remediation of environmental contamination or (b) bodily injury or property damages caused by the release of hazardous substances into the land, air or water.", + "As of December 31, 2006, roughly 7% of the Company\u2019s gross reserves are an estimate of the Company\u2019s ultimate liability for A&E claims.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "This estimate is made based on assessments of the underlying exposures as the result of (1) long and variable reporting delays, both from insureds to insurance companies and from ceding companies to reinsurers; (2) historical data, which is more limited and variable on A&E losses than historical information on other types of casualty claims; and (3) unique aspects of A&E exposures for which ultimate value cannot be estimated using traditional reserving techniques.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims.", + "Among the uncer\u0002tainties are: (a) potential passing of many years between exposure and manifestation of any bodily injury or property damage; (b) difficulty in identifying sources of asbestos or environmental contamination; (c) difficulty in properly allocating responsibil\u0002ity and/or liability for asbestos or environmental damage; (d) changes in underlying laws and judicial interpretation of those laws; (e) the potential for an asbestos or environmental claim to involve many insurance providers over many policy periods; (f) questions concerning interpretation and application of insurance and reinsurance coverage; and (g) uncertainty regarding the number and identity of insureds with potential asbestos or environmental exposure.", + "With respect to asbestos claims in particular, several additional factors have emerged in recent years that further compound the difficulty in estimating the Company\u2019s liability.", + "These developments include: (a) the significant growth over a short period of time in the number of claims filed, in part reflecting a much more aggressive plaintiff bar and including claims against defendants who may only have a \u201cperipheral\u201d connection to asbestos; (b) a disproportionate percentage of claims filed by individuals with no physical injury, which should have little to no financial value but which have increasingly been considered in jury verdicts and settlements; (c) the growth in the number and significance of bankruptcy filings by companies as a result of asbestos claims (including, more recently, bankruptcy filings in which companies attempt to resolve their asbestos liabili\u0002ties in a manner that is prejudicial to insurers and forecloses insurers from participating in the negotiation of asbestos related bankruptcy reorganization plans); (d) the concentration of claims in a small number of states that favor plaintiffs; (e) the growth in the number of claims that might impact the general liability portion of insurance policies rather than the product lia\u0002bility portion; (f) measures adopted by specific courts to ameliorate the worst procedural abuses; (g) an increase in settle\u0002ment values being paid to asbestos claimants, especially those with cancer or functional impairment; (h) legislation in some states to address asbestos litigation issues; and (i) the potential that other states or the U. S. Congress may adopt legislation on asbestos litigation.", + "Anecdotal evidence suggest that new claims filing rates have decreased, that new filings of asbestos\u0002driven bankruptcies have decreased and legislative reforms are beginning to diminish the potential ultimate liability for asbestos losses.", + "Management believes that these uncertainties and factors continue to render reserves for A&E and particularly asbestos losses significantly less subject to traditional actuarial analysis than reserves for other types of losses.", + "Given these uncertain\u0002ties, management believes that no meaningful range for such ultimate losses can be established, particularly for asbestos.", + "Further, A&E reserves may be subject to more variability than non-A&E reserves and such variation could have a material adverse effect on the Company\u2019s financial condition, results of operation and/or cash flow.", + "The Company establishes reserves to the extent that, in the judgment of management, the facts and prevailing law reflect an exposure for the Company or its ceding companies.", + "The following table summarizes incurred losses with respect to A&E on both a gross and net of retrocessional basis for the years indicated:", + "|(Dollars in thousands)|2006|2005|2004|\n|Gross basis:||||\n|Beginning of period reserves|$649,460|$728,325|$765,257|\n|Incurred losses|113,400|77,050|171,729|\n|Paid losses|-112,726|-155,915|-208,661|\n|End of period reserves|$650,134|$649,460|$728,325|\n|Net basis:||||\n|Beginning of period reserves|$450,350|$506,675|$534,369|\n|Incurred losses|106,595|81,351|159,422|\n|Paid losses|-45,533|-137,676|-187,116|\n|End of period reserves|$511,412|$450,350|$506,675|\n", + "The Company endeavors to actively engage with every insured account posing significant potential asbestos exposure to Mt.", + "McKinley.", + "Such engagement can take the form of pursuing a final settlement, negotiation, litigation, or the monitoring of claim activity under Settlement in Place (\u201cSIP\u201d) agreements.", + "SIP agreements generally condition an insurer\u2019s payment upon the actual claim experience of the insured and may have annual payment caps or other measures to control the insurer\u2019s payments.", + "The Company\u2019s Mt.", + "McKinley operation is currently managing seven SIP agreements, three of which were executed prior to the acquisition of Mt.", + "McKinley in 2000.", + "The Company\u2019s preference with respect to coverage settlements is to execute settlements that call for a fixed schedule of payments, because such settlements eliminate future uncertainty.", + "The Company has significantly enhanced its classification of insureds by exposure characteristics over time, as well as its analysis by insured for those it considers to be more exposed or active.", + "Those insureds identified as relatively less exposed or active are subject to less rigorous, but still active management, with an emphasis on monitoring those characteristics, which may indicate an increasing exposure or levels of activity.", + "The Company continually focuses on further enhancement of the detailed estimation processes used to evaluate potential exposure of policyholders, including those that may not have reported significant A&E losses.", + "Everest Re\u2019s book of assumed A&E reinsurance is relatively concentrated within a limited number of contracts and for a limited period, from 1977 to 1984.", + "Because the book of business is relatively concentrated and the Company has been managing the A&E exposures for many years, its claim staff is familiar with the ceding companies that have generated most of these liabilities in the past and which are therefore most likely to generate future liabilities.", + "The Company\u2019s claim staff has developed familiarity both with the nature of the business written by its ceding companies and the claims handling and reserving practices of those companies.", + "This level of familiarity enhances the quality of the Company\u2019s analysis of its exposure through those companies.", + "As a result, the Company believes that it can identify those claims on which it has unusual exposure, such as non-products asbestos claims, for concentrated attention.", + "However, in setting reserves for its reinsurance liabilities, the Company relies on claims data supplied, both formally and informally by its ceding companies and brokers.", + "This furnished information is not always timely or accurate and can impact the accuracy and timeliness of the Company\u2019s ultimate loss projections.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the periods indicated:", + "||Years Ended December 31,|\n|(Dollars in millions)|2010|2009|2008|\n|Case reserves reported by ceding companies|$135.4|$141.5|$161.0|\n|Additional case reserves established by the Company (assumed reinsurance)(1)|116.1|150.2|139.7|\n|Case reserves established by the Company (direct insurance)|38.9|63.0|133.8|\n|Incurred but not reported reserves|264.4|283.9|352.3|\n|Gross reserves|554.8|638.7|786.8|\n|Reinsurance receivable|-21.9|-25.6|-37.7|\n|Net reserves|$532.9|$613.1|$749.1|\n|______________||||\n", + "(1) Additional reserves are case specific reserves established by the Company in excess of those reported by the ceding company, based on the Company\u2019s assessment of the covered loss.", + "(Some amounts may not reconcile due to rounding. )", + "Additional losses, including those relating to latent injuries and other exposures, which are as yet unrecognized, the type or magnitude of which cannot be foreseen by either the Company or the industry, may emerge in the future.", + "Such future emergence could have material adverse effects on the Company\u2019s future financial condition, results of operations and cash flows.", + "Commission and brokerage increased by 5.9% to $184.4 million in 2012 compared to $174.0 million in 2011 reflecting higher contingent commissions in 2012.", + "Segment other underwriting expenses increased to $30.6 million in 2012 compared to $26.3 million for the same period in 2011.", + "The increases are primarily attributable to higher personnel benefit costs.", + "Insurance.", + "The following table presents the underwriting results and ratios for the Insurance segment for the periods indicated.", + "||Years Ended December 31,|2013/2012|2012/2011|\n|(Dollars in millions)|2013|2012|2011|Variance|% Change|Variance|% Change|\n|Gross written premiums|$1,268.7|$1,073.1|$975.6|$195.6|18.2%|$97.5|10.0%|\n|Net written premiums|1,086.2|852.1|820.5|234.1|27.5%|31.6|3.9%|\n|Premiums earned|$1,037.4|$852.4|$821.2|$185.0|21.7%|$31.3|3.8%|\n|Incurred losses and LAE|931.5|700.3|705.9|231.2|33.0%|-5.6|-0.8%|\n|Commission and brokerage|133.7|117.6|137.7|16.1|13.7%|-20.1|-14.6%|\n|Other underwriting expenses|119.3|103.0|89.5|16.3|15.8%|13.5|15.1%|\n|Underwriting gain (loss)|$-147.0|$-68.5|$-111.9|$-78.6|114.8%|$43.5|-38.8%|\n||||||Point Chg||Point Chg|\n|Loss ratio|89.8%|82.2%|86.0%||7.6||-3.8|\n|Commission and brokerage ratio|12.9%|13.8%|16.8%||-0.9||-3.0|\n|Other underwriting expense ratio|11.5%|12.0%|10.8%||-0.5||1.2|\n|Combined ratio|114.2%|108.0%|113.6%||6.2||-5.6|\n|(Some amounts may not reconcile due to rounding.)|||||||\n", + "Premiums.", + "Gross written premiums increased by 18.2% to $1,268.7 million in 2013 compared to $1,073.1 million in 2012.", + "This increase was primarily driven by California workers\u2019 compensation, crop and non\u0002standard auto business.", + "Net written premiums increased by 27.5% to $1,086.2 million in 2013 compared to $852.1 million in 2012.", + "The larger increase in net written premiums compared to gross written premiums is mainly due to less use of reinsurance, particularly on the crop business.", + "Premiums earned increased 21.7% to $1,037.4 million in 2013 compared to $852.4 million in 2012.", + "The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.", + "Gross written premiums increased by 10.0% to $1,073.1 million in 2012 compared to $975.6 million in 2011.", + "This increase was primarily driven by crop and primary A&H medical stop loss business, partially offset by the termination and runoff of several large casualty programs.", + "Net written premiums increased by 3.9% to $852.1 million in 2012 compared to $820.5 million in 2011.", + "The lower increase in net written premiums in comparison to gross written premiums is primarily attributable to a higher level of reinsurance employed for the crop business.", + "Premiums earned increased 3.8% to $852.4 million in 2012 compared to $821.2 million in 2011.", + "The change in premiums earned is relatively consistent with the increase in net written premiums." + ], + "question_id": "simplong-test-370", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the ratio of Marketplaces to the total in 2009?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Summary of Cost of Net Revenues The following table summarizes changes in cost of net revenues:", + "||Year Ended December 31,|Change from 2008 to 2009|Change from 2009 to 2010|\n||2008|2009|2010|in Dollars|in %|in Dollars|in %|\n||(In thousands, except percentages)|\n|Cost of net revenues:||||||||\n|Marketplaces|$907,121|$968,266|$1,071,499|$61,145|7%|$103,233|11%|\n|As a percentage of total Marketplaces net revenues|16.2%|18.2%|18.7%|||||\n|Payments|1,036,746|1,220,619|1,493,168|183,873|18%|272,549|22%|\n|As a percentage of total Payments net revenues|43.1%|43.7%|43.5%|||||\n|Communications|284,202|290,877|\u2014|6,675|2%|-290,877|\u2014|\n|As a percentage of total Communications net revenues|51.6%|46.9%|\u2014|||||\n|Total cost of net revenues|$2,228,069|$2,479,762|$2,564,667|$251,693|11%|$84,905|3%|\n|As a percentage of net revenues|26.1%|28.4%|28.0%|||||\n", + "Cost of Net Revenues Cost of net revenues consists primarily of costs associated with payment processing, customer support and site operations and Skype telecommunications (through November 2009).", + "Significant components of these costs include bank transaction fees, credit card interchange and assessment fees, interest expense on indebtedness incurred to finance the purchase of consumer loans receivable by Bill Me Later, employee compensation, contractor costs, facilities costs, depreciation of equipment and amortization expense.", + "Marketplaces Marketplaces cost of net revenues increased $103.2 million, or 11%, in 2010 compared to 2009.", + "The increase during 2010 was due primarily to the inclusion of a full year of costs attributable to Gmarket and increased site operation costs.", + "Marketplaces cost of net revenues as a percentage of Marketplaces net revenues increased slightly in 2010 compared to 2009 due primarily to the addition of Gmarket, the settlement of a lawsuit and the establishment of a reserve related to certain indirect tax positions (recorded as a reduction in revenue).", + "Marketplaces cost of net revenues increased $61.1 million, or 7%, in 2009 compared to 2008.", + "The increase during 2009 was due primarily to the inclusion of costs attributable to Gmarket and Den Bl?", + "Avis and BilBasen, partially offset by a decrease in customer support and site operations costs associated with our restructuring activities.", + "Marketplaces cost of net revenues increased as a percentage of Marketplaces net revenues during 2009 compared to 2008 due primarily to the impact of foreign currency movements on revenues, pricing initiatives (which are recorded as a reduction in revenue) and faster growth in our lower margin Marketplaces businesses.", + "Payments Payments cost of net revenues increased $272.5 million, or 22%, in 2010 compared to 2009.", + "The increase in cost of net revenues was primarily due to the impact from our growth in net TPV.", + "Payments cost of net revenues as a percentage of Payments net revenues decreased slightly in 2010 compared to 2009 due primarily to improved leverage of our customer support infrastructure and existing site operations.", + "expect that these credit rating agencies will continue to monitor developments in our planned separation of PayPal, including the capital structure for each company after separation, which could result in additional downgrades.", + "Our borrowing costs depend, in part, on our credit ratings and because downgrades would likely increase our borrowing costs we disclose these ratings to enhance the understanding of the effects of our ratings on our costs of funds.", + "In addition, to assist PayPal in our planned separation we are currently working with credit rating agencies to obtain separate credit ratings for PayPal and we believe that immediately following separation both eBay and PayPal will be rated investment grade.", + "Commitments and Contingencies As of December 31, 2014 , approximately $20.2 billion of unused credit was available to PayPal Credit accountholders.", + "While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit accountholders will access their entire available credit at any given point in time.", + "In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institutions that are the issuer of PayPal Credit products based on, among other things, account usage and customer creditworthiness.", + "When a consumer makes a purchase using a PayPal Credit products, the chartered financial institution extends credit to the consumer, funds the extension of credit at the point of sale and advances funds to the merchant.", + "We subsequently purchase the consumer receivables related to the consumer loans and as result of that purchase, bear the risk of loss in the event of loan defaults.", + "However, we subsequently sell a participation interest in the entire pool of consumer loans to the chartered financial institution that extended the consumer loans.", + "Although the chartered financial institution continues to own the customer accounts, we own and bear the risk of loss on the related consumer receivables, less the participation interest held by the chartered financial institution, and PayPal is responsible for all servicing functions related to the customer account balances.", + "As of December 31, 2014 , the total outstanding principal balance of this pool of consumer loans was $3.7 billion , of which the chartered financial institution owns a participation interest of $163 million , or 4.4% of the total outstanding balance of consumer receivables at that date.", + "We have certain fixed contractual obligations and commitments that include future estimated payments for general operating purposes.", + "Changes in our business needs, contractual cancellation provisions, fluctuating interest rates, and other factors may result in actual payments differing from the estimates.", + "We cannot provide certainty regarding the timing and amounts of these payments.", + "The following table summarizes our fixed contractual obligations and commitments:", + "|Payments Due During the Year Ending December 31,|Debt|Leases|Purchase Obligations|Total|\n||(In millions)|\n|2015|1,026|113|275|1,414|\n|2016|164|96|58|318|\n|2017|1,613|83|55|1,751|\n|2018|148|63|43|254|\n|2019|1,697|42|7|1,746|\n|Thereafter|4,708|52|3|4,763|\n||9,356|449|441|10,246|\n", + "The significant assumptions used in our determination of amounts presented in the above table are as follows: ?", + "Debt amounts include the principal and interest amounts of the respective debt instruments.", + "For additional details related to our debt, please see \u201cNote 10 \u2013 Debt\u201d to the consolidated financial statements included in this report.", + "This table does not reflect any amounts payable under our $3 billion revolving credit facility or $2 billion commercial paper program, for which no borrowings were outstanding as of December 31, 2014 . ?", + "Lease amounts include minimum rental payments under our non-cancelable operating leases for office facilities, fulfillment centers, as well as computer and office equipment that we utilize under lease arrangements.", + "The amounts presented are consistent with contractual terms and are not expected to differ significantly from actual results under our existing leases, unless a substantial change in our headcount needs requires us to expand our occupied space or exit an office facility early.", + "MARATHON OIL CORPORATION Notes to Consolidated Financial Statements equivalent to the Exchangeable Shares at the acquisition date as discussed below.", + "Additional shares of voting preferred stock will be issued as necessary to adjust the number of votes to account for changes in the exchange ratio.", + "Preferred shares \u2013 In connection with the acquisition of Western discussed in Note 6, the Board of Directors authorized a class of voting preferred stock consisting of 6 million shares.", + "Upon completion of the acquisition, we issued 5 million shares of this voting preferred stock to a trustee, who holds the shares for the benefit of the holders of the Exchangeable Shares discussed above.", + "Each share of voting preferred stock is entitled to one vote on all matters submitted to the holders of Marathon common stock.", + "Each holder of Exchangeable Shares may direct the trustee to vote the number of shares of voting preferred stock equal to the number of shares of Marathon common stock issuable upon the exchange of the Exchangeable Shares held by that holder.", + "In no event will the aggregate number of votes entitled to be cast by the trustee with respect to the outstanding shares of voting preferred stock exceed the number of votes entitled to be cast with respect to the outstanding Exchangeable Shares.", + "Except as otherwise provided in our restated certificate of incorporation or by applicable law, the common stock and the voting preferred stock will vote together as a single class in the election of directors of Marathon and on all other matters submitted to a vote of stockholders of Marathon generally.", + "The voting preferred stock will have no other voting rights except as required by law.", + "Other than dividends payable solely in shares of voting preferred stock, no dividend or other distribution, will be paid or payable to the holder of the voting preferred stock.", + "In the event of any liquidation, dissolution or winding up of Marathon, the holder of shares of the voting preferred stock will not be entitled to receive any assets of Marathon available for distribution to its stockholders.", + "The voting preferred stock is not convertible into any other class or series of the capital stock of Marathon or into cash, property or other rights, and may not be redeemed.25.", + "Leases We lease a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.", + "Most long-term leases include renewal options and, in certain leases, purchase options.", + "Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having initial or remaining noncancelable lease terms in excess of one year are as follows:", + "|(In millions)|Capital Lease Obligations (a)|Operating Lease Obligations|\n|2010|$46|$165|\n|2011|45|140|\n|2012|58|121|\n|2013|44|102|\n|2014|44|84|\n|Later years|466|313|\n|Sublease rentals|-|-16|\n|Total minimum lease payments|$703|$909|\n|Less imputed interest costs|-257||\n|Present value of net minimum lease payments|$446||\n", + "(a) Capital lease obligations include $164 million related to assets under construction as of December 31, 2009.", + "These leases are currently reported in long-term debt based on percentage of construction completed at $36 million.", + "In connection with past sales of various plants and operations, we assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.", + "In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, we remain primarily obligated for payments under these leases.", + "Minimum lease payments under these operating lease obligations of $16 million have been included above and an equal amount has been reported as sublease rentals." + ], + "question_id": "simplong-test-371", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the growing rate of Planned generation (TWh) in the year with the most Average contracted price per MWh?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "System Energy Resources, Inc. Management's Financial Discussion and Analysis 269 Operating Activities Cash flow from operations increased by $232.1 million in 2004 primarily due to income tax refunds of $70.6 million in 2004 compared to income tax payments of $230.9 million in 2003.", + "The increase was partially offset by money pool activity, as discussed below.", + "In 2003, the domestic utility companies and System Energy filed, with the IRS, a change in tax accounting method notification for their respective calculations of cost of goods sold.", + "The adjustment implemented a simplified method of allocation of overhead to the production of electricity, which is provided under the IRS capitalization regulations.", + "The cumulative adjustment placing these companies on the new methodology resulted in a $430 million deduction for System Energy on Entergy's 2003 income tax return.", + "There was no cash benefit from the method change in 2003.", + "In 2004 System Energy realized $144 million in cash tax benefit from the method change.", + "This tax accounting method change is an issue across the utility industry and will likely be challenged by the IRS on audit.", + "Cash flow from operations decreased by $124.8 million in 2003 primarily due to the following: ?", + "an increase in federal income taxes paid of $74.0 million in 2003 compared to 2002; ?", + "the cessation of the Entergy Mississippi GGART.", + "System Energy collected $21.7 million in 2003 and $40.8 million in 2002 from Entergy Mississippi in conjunction with the GGART, which provided for the acceleration of Entergy Mississippi's Grand Gulf purchased power obligation.", + "The MPSC authorized cessation of the GGART effective July 1, 2003.", + "See Note 2 to the domestic utility companies and System Energy financial statements for further discussion of the GGART; and ?", + "money pool activity, as discussed below.", + "System Energy's receivables from the money pool were as follows as of December 31 for each of the following years:", + "|2004|2003|2002|2001|\n|(In Thousands)|\n|$61,592|$19,064|$7,046|$13,853|\n", + "Money pool activity used $42.5 million of System Energy's operating cash flows in 2004, used $12.0 million in 2003, and provided $6.8 million in 2002.", + "See Note 4 to the domestic utility companies and System Energy financial statements for a description of the money pool.", + "Investing Activities Net cash used for investing activities was practically unchanged in 2004 compared to 2003 primarily because an increase in construction expenditures caused by a reclassification of inventory items to capital was significantly offset by the maturity of $6.5 million of other temporary investments that had been made in 2003, which provided cash in 2004.", + "The increase of $16.2 million in net cash used in investing activities in 2003 was primarily due to the following: ?", + "the maturity in 2002 of $22.4 million of other temporary investments that had been made in 2001, which provided cash in 2002; ?", + "an increase in decommissioning trust contributions and realized change in trust assets of $8.2 million in 2003 compared to 2002; and ?", + "other temporary investments of $6.5 million made in 2003.", + "Partially offsetting the increases in net cash used in investing activities was a decrease in construction expenditures of $22.1 million in 2003 compared to 2002 primarily due to the power uprate project in 2002.", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 25 proposed in the Initial Decision are arbitrary and are so complex that they would be difficult to implement; the Initial Decision improperly rejected Entergy's resource planning remedy; the Initial Decision erroneously determined that the full costs of the Vidalia project should be included in Entergy Louisiana's production costs for purposes of calculating relative production costs; and the Initial Decision erroneously adopted a new method of calculating reserve sharing costs rather than the current method.", + "If the FERC grants the relief requested by the LPSC in the proceeding, the relief may result in a material increase in the total production costs the FERC allocates to companies whose costs currently are projected to be less than the Entergy System average, and a material decrease in the total production costs the FERC allocates to companies whose costs currently are projected to exceed that average.", + "If the FERC adopts the ALJ's Initial Decision, the amount of production costs that would be reallocated among the domestic utility companies would be determined through consideration of each domestic utility company's relative total production cost expressed as a percentage of Entergy System average total production cost.", + "The ALJ's Initial Decision would reallocate production costs of the domestic utility companies whose percent of Entergy System average production cost are outside an upper or lower bandwidth.", + "This would be accomplished by payments from domestic utility companies whose production costs are below Entergy System average production cost to domestic utility companies whose production costs are above Entergy System average production cost.", + "An assessment of the potential effects of the ALJ's Initial Decision requires assumptions regarding the future total production cost of each domestic utility company, which assumptions include the mix of solid fuel and gas-fired generation available to each company and the costs of natural gas and purchased power.", + "Entergy Louisiana and Entergy Gulf States are more dependent upon gas-fired generation than Entergy Arkansas, Entergy Mississippi, or Entergy New Orleans.", + "Of these, Entergy Arkansas is the least dependent upon gas-fired generation.", + "Therefore, increases in natural gas prices likely will increase the amount by which Entergy Arkansas' total production costs are below the average production costs of the domestic utility companies.", + "Considerable uncertainty exists regarding future gas prices.", + "Annual average Henry Hub gas prices have varied significantly over recent years, ranging from $1.72/mmBtu to $5.85/mmBtu for the 1995-2004 period, and averaging $3.43/mmBtu during the ten-year period 1995-2004 and $4.58/mmBtu during the five-year period 2000-2004.", + "Recent market conditions have resulted in gas prices that have averaged $5.85/mmBtu for the twelve months ended December 2004.", + "Based upon analyses considering the effect on future production costs if the FERC adopts the ALJ's Initial Decision, the following potential annual production cost reallocations among the domestic utility companies could result assuming annual average gas prices range from $6.39/mmBtu in 2005 declining to $4.97/mmBtu by 2009:", + "||Range of Annual Paymentsor (Receipts)|Average AnnualPayments or (Receipts)for 2005-2009 Period|\n||(In Millions)|(In Millions)|\n|Entergy Arkansas|$154 to $281|$215|\n|Entergy Gulf States|-$130 to ($15)|-$63|\n|Entergy Louisiana|-$199 to ($98)|-$141|\n|Entergy Mississippi|-$16 to $8|$1|\n|Entergy New Orleans|-$17 to ($5)|-$12|\n", + "Management believes that any changes in the allocation of production costs resulting from a FERC decision and related retail proceedings should result in similar rate changes for retail customers.", + "The timing of recovery of these costs in rates could be the subject of additional proceedings at the APSC and elsewhere, however, and a delay in full recovery of any increased allocation of production costs could result in additional financing requirements.", + "Although the outcome and timing of the FERC, APSC, and other proceedings cannot be predicted at this time, Entergy does not believe that the ultimate resolution of these proceedings will have a material effect on its financial condition or results of operation.", + "In February 2004, the APSC issued an \"Order of Investigation,\" in which it discusses the negative effect that implementation of the FERC ALJ's Initial Decision would have on Entergy Arkansas' customers.", + "The APSC order establishes an investigation into whether Entergy Arkansas' continued participation in the System Agreement", + "Entergy Corporation and Subsidiaries Management's Financial Discussion and Analysis 30 whether other procedural steps are necessary.", + "The FERC has not yet ruled on the Emergency Interim Request for Rehearing submitted by Entergy.", + "Entergy believes that it has complied with the provisions of its open access transmission tariff, including the provisions addressing the implementation of the AFC methodology; however, the ultimate scope of this proceeding cannot be predicted at this time.", + "A hearing in the AFC proceeding is currently scheduled to commence in August 2005.", + "Federal Legislation Federal legislation intended to facilitate wholesale competition in the electric power industry has been seriously considered by the United States Congress for the past several years.", + "In the last Congress, both the House and Senate passed separate versions of comprehensive energy legislation, negotiated a conference package, and fell two votes short of bringing the conferenced bill up for a vote in the Senate.", + "The bill contained electricity provisions that would, among other things, allow for participant funding of transmission interconnections and upgrades, repeal PUHCA, repeal or modify PURPA, enact a mechanism for establishing enforceable reliability standards, provide the FERC with new authority over utility mergers and acquisitions, and codify the FERC's authority over market- based rates.", + "It is expected that the United States House and Senate will again craft and consider energy legislation in the 109th Congress.", + "Market and Credit Risks Market risk is the risk of changes in the value of commodity and financial instruments, or in future operating results or cash flows, in response to changing market conditions.", + "Entergy is exposed to the following significant market risks: ?", + "The commodity price risk associated with Entergy's Non-Utility Nuclear and Energy Commodity Services segments. ?", + "The foreign currency exchange rate risk associated with certain of Entergy's contractual obligations. ?", + "The interest rate and equity price risk associated with Entergy's investments in decommissioning trust funds.", + "Entergy is also exposed to credit risk.", + "Credit risk is the risk of loss from nonperformance by suppliers, customers, or financial counterparties to a contract or agreement.", + "Where it is a significant consideration, counterparty credit risk is addressed in the discussions that follow.", + "Commodity Price Risk Power Generation The sale of electricity from the power generation plants owned by Entergy's Non-Utility Nuclear business and Energy Commodity Services, unless otherwise contracted, is subject to the fluctuation of market power prices.", + "Entergy's Non-Utility Nuclear business has entered into PPAs and other contracts to sell the power produced by its power plants at prices established in the PPAs.", + "Entergy continues to pursue opportunities to extend the existing PPAs and to enter into new PPAs with other parties.", + "Following is a summary of the amount of the Non-Utility Nuclear business' output that is currently sold forward under physical or financial contracts at fixed prices:", + "|| 2005| 2006| 2007| 2008| 2009|\n| Non-Utility Nuclear:||||||\n|Percent of planned generation sold forward:||||||\n|Unit-contingent|36%|20%|17%|1%|0%|\n|Unit-contingent with availability guarantees|54%|52%|38%|25%|0%|\n|Firm liquidated damages|4%|4%|2%|0%|0%|\n|Total|94%|76%|57%|26%|0%|\n|Planned generation (TWh)|34|35|34|34|35|\n|Average contracted price per MWh|$39|$41|$42|$44|N/A|\n", + "Entergy Corporation Notes to Consolidated Financial Statements 82 Upon implementation of SFAS 143 in 2003, assets and liabilities increased $1.1 billion for the U. S. Utility segment as a result of recording the asset retirement obligations at their fair values of $1.1 billion as determined under SFAS 143, increasing utility plant by $287 million, reducing accumulated depreciation by $361 million, and recording the related regulatory assets of $422 million.", + "The implementation of SFAS 143 for the portion of River Bend not subject to cost-based ratemaking decreased earnings by $21 million net-of-tax as a result of a one-time cumulative effect of accounting change.", + "In accordance with ratemaking treatment and as required by SFAS 71, the depreciation provisions for the domestic utility companies and System Energy include a component for removal costs that are not asset retirement obligations under SFAS 143.", + "In accordance with regulatory accounting principles, Entergy has recorded a regulatory asset for certain of its domestic utility companies and System Energy of $86.9 million as of December 31, 2004 and $72.4 million as of December 31, 2003 to reflect an estimate of incurred but uncollected removal costs previously recorded as a component of accumulated depreciation.", + "The decommissioning and retirement cost liability for certain of the domestic utility companies and System Energy includes a regulatory liability of $34.6 million as of December 31, 2004 and $26.8 million as of December 31, 2003 representing an estimate of collected but not yet incurred removal costs.", + "For the Non-Utility Nuclear business, the implementation of SFAS 143 resulted in a decrease in liabilities of $595 million due to reductions in decommissioning liabilities, a decrease in assets of $340 million, including a decrease in electric plant in service of $315 million, and an increase in earnings in 2003 of $155 million net-of-tax as a result of a one-time cumulative effect of accounting change.", + "The cumulative decommissioning liabilities and expenses recorded in 2004 by Entergy were as follows:" + ], + "question_id": "simplong-test-372", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the difference between the greatest Premiums earned in As previously reported in 2015 and 2014?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS):", + "|CONSOLIDATED STATEMENTS OF OPERATIONS|Twelve Months Ended December 31, 2015|Twelve Months Ended December 31, 2014|\n|AND COMPREHENSIVE INCOME (LOSS):||Effect of adoption of new accounting policy|||Effect of adoption of new accounting policy||\n||As previously reported|As adopted|As previously reported|As adopted|\n|(Dollars in thousands)|||||||\n|REVENUES:|||||||\n|Premiums earned|$5,481,459|$-188,617|$5,292,842|$5,169,135|$-125,428|$5,043,707|\n|Net investment income|473,825|-352|473,473|530,570|-85|530,485|\n|Other income (expense)|60,435|27,845|88,280|18,437|13,871|32,308|\n|Total revenues|5,837,889|-161,124|5,676,765|5,790,589|-111,642|5,678,947|\n|CLAIMS AND EXPENSES:|||||||\n|Incurred losses and loss adjustment expenses|3,101,915|-37,200|3,064,715|2,906,534|-30,598|2,875,936|\n|Commission, brokerage, taxes and fees|1,202,036|-18,390|1,183,646|1,135,586|-14,441|1,121,145|\n|Other underwriting expenses|265,984|-8,915|257,069|240,400|-7,296|233,104|\n|Total claims and expenses|4,629,380|-64,505|4,564,875|4,344,474|-52,335|4,292,139|\n|INCOME (LOSS) BEFORE TAXES|1,208,509|-96,619|1,111,890|1,446,115|-59,307|1,386,808|\n|NET INCOME (LOSS)|1,074,488|-96,619|977,869|1,258,463|-59,307|1,199,156|\n|Net income (loss) attributable to noncontrolling interests|-96,619|96,619|-|-59,307|59,307|-|\n|NET INCOME (LOSS) ATTRIBUTABLE TO EVEREST RE GROUP|977,869|-977,869|-|1,199,156|-1,199,156|-|\n", + "|CONSOLIDATED STATEMENT OF CASH FLOWS:|Twelve Months Ended December 31, 2015|Twelve Months Ended December 31, 2014|\n|(Dollars in thousands)|As previously reported|Effect of adoption of new accounting policy|As adopted|As previously reported|Effect of adoption of new accounting policy|As adopted|\n|CASH FLOWS FROM OPERATING ACTIVITIES:|||||||\n|Net income (loss)|$1,074,488|$-96,619|$977,869|$1,258,463|$-59,307|$1,199,156|\n|Decrease (increase) in premiums receivable|-93,837|-4,374|-98,211|45,282|3,089|48,371|\n|Decrease (increase) in funds held by reinsureds, net|31,225|-75,000|-43,775|-1,835|-|-1,835|\n|Decrease (increase) in reinsurance receivables|-240,414|-24,689|-265,103|-186,014|-24,634|-210,648|\n|Decrease (increase) in prepaid reinsurance premiums|-14,486|-7,333|-21,819|-79,086|956|-78,130|\n|Increase (decrease) in other net payable to reinsurers|38,262|5,465|43,727|29,410|-1,102|28,308|\n|Change in other assets and liabilities, net|264|-9,198|-8,934|35,419|-178,054|-142,635|\n|Net cash provided by (used in) operating activities|1,308,382|-211,748|1,096,634|1,313,821|-259,059|1,054,762|\n|CASH FLOWS FROM INVESTING ACTIVITIES:|||||||\n|Net change in short-term investments|-98,903|440,636|341,733|-497,983|421,500|-76,483|\n|Net cash provided by (used in) investing activities|-1,121,737|440,636|-681,101|-1,180,072|421,500|-758,572|\n|CASH FLOWS FROM FINANCING ACTIVITIES:|||||||\n|Third party investment in redeemable noncontrolling interest|266,848|-266,848|-|136,200|-136,200|-|\n|Subscription advances for third party redeemable noncontrolling interest|30,000|-30,000|-|40,000|-40,000|-|\n|Dividends paid on third party investment in redeemable noncontrolling interest|-68,158|68,158|-|-10,334|10,334|-|\n|Net cash provided by (used in) financing activities|-332,879|-228,690|-561,569|-312,232|-165,866|-478,098|\n|EFFECT OF EXCHANGE RATE CHANGES ON CASH|-7,582|-198|-7,780|4,575|3,425|8,000|\n", + "CONSOLIDATED STATEMENT OF CASH FLOWS:", + "The following table presents a reconciliation of beginning and ending reserve balances for the periods indicated on a GAAP basis:", + "||Years Ended December 31,|\n|(Dollars in millions)|2016|2015|2014|\n|Gross reserves at beginning of period|$9,951.8|$9,720.8|$9,673.2|\n|Incurred related to:||||\n|Current year|3,434.9|3,129.7|2,915.6|\n|Prior years|-295.3|-65.0|-39.7|\n|Total incurred losses|3,139.6|3,064.7|2,875.9|\n|Paid related to:||||\n|Current year|745.6|690.0|755.9|\n|Prior years|2,043.0|2,180.1|2,088.8|\n|Total paid losses|2,788.6|2,870.1|2,844.7|\n|Foreign exchange/translation adjustment|-99.9|-190.0|-160.7|\n|Change in reinsurance receivables on unpaid losses and LAE|109.4|226.4|176.9|\n|Gross reserves at end of period|$10,312.3|$9,951.8|$9,720.8|\n|(Some amounts may not reconcile due to rounding.)||||\n", + "Incurred prior years\u2019 reserves decreased by $295.3 million, $65.0 million and $39.7 million for the years ended December 31, 2016, 2015 and 2014, respectively.", + "The decrease for 2016 was attributable to favorable development in the reinsurance segments of $468.7 million related primarily to property and short-tail business in the U. S. , property business in Canada, Latin America, Middle East and Africa, as well as favorable development on prior year catastrophe losses, partially offset by $53.9 million of adverse development on A&E reserves.", + "Part of the favorable development in the reinsurance segments related to the 2015 loss from the explosion at the Chinese port of Tianjin.", + "In 2015, this loss was originally estimated to be $60.0 million.", + "At December 31, 2016, this loss was projected to be $16.7 million resulting in $43.3 million of favorable development in 2016.", + "The net favorable development in the reinsurance segments was partially offset by $173.4 million of unfavorable development in the insurance segment primarily related to run-off construction liability and umbrella program business.", + "The decrease for 2015 was attributable to favorable development in the reinsurance segments of $217.2 million related to treaty casualty and treaty property reserves, partially offset by $152.1 million of unfavorable development in the insurance segment primarily related to umbrella program and construction liability business.", + "The decrease for 2014 was attributable to favorable development in the reinsurance segments of $202.4 million related to treaty casualty, treaty property and catastrophe reserves, partially offset by $137.8 million development on A&E reserves and $25.0 million of unfavorable development in the insurance segment primarily related to umbrella program and construction liability business.", + "Since the Company has operations in many countries, part of the Company\u2019s loss and LAE reserves are in foreign currencies and translated to U. S. dollars for each reporting period.", + "Fluctuations in the exchange rates for the currencies, period over period, affect the U. S. dollar amount of outstanding reserves.", + "The translation adjustment line at the bottom of the table eliminates the impact of the exchange fluctuations from the reserve re-estimates.", + "The Company\u2019s loss reserving methodologies continuously monitor the emergence of loss and loss development trends, seeking, on a timely basis, to both adjust reserves for the impact of trend shifts and to factor the impact of such shifts into the Company\u2019s underwriting and pricing on a prospective basis.", + "Reserves for Asbestos and Environmental Losses and LAE.", + "At December 31, 2016, the Company\u2019s gross reserves for A&E claims represented 4.3% of its total reserves.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "Liabilities related to Mt.", + "McKinley\u2019s direct business, which had been ceded to Bermuda Re previously, were retroceded to an affiliate of Clearwater Insurance Company in July 2015, concurrent with the sale of Mt.", + "McKinley to Clearwater Insurance Company.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims and ultimate values cannot be estimated using traditional reserving techniques.", + "See ITEM 7, \u201cManagement\u2019s Discussion", + "Other expense, net increased $0.8 million to $7.2 million in 2015 from $6.4 million in 2014.", + "This increase was due to higher net losses on the combined foreign currency exchange rate changes on transactions denominated in foreign currencies and our foreign currency derivative financial instruments in 2015.", + "Provision for income taxes increased $19.9 million to $154.1 million in 2015 from $134.2 million in 2014.", + "Our effective tax rate was 39.9% in 2015 compared to 39.2% in 2014.", + "Our effective tax rate for 2015 was higher than the effective tax rate for 2014 primarily due to increased non-deductible costs incurred in connection with our Connected Fitness acquisitions in 2015.", + "Year Ended December 31, 2014 Compared to Year Ended December 31, 2013 Net revenues increased $752.3 million, or 32.3%, to $3,084.4 million in 2014 from $2,332.1 million in 2013.", + "Net revenues by product category are summarized below:" + ], + "question_id": "simplong-test-373", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the General, administrative and other expenses in the years where Production expenses, including related taxes is greater than 100? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "| For the Years Ended December 31| Total| United States| Europe (a)| Africa| Asia and Other (b)|\n|| (In millions)|\n|2010||||||\n|Sales and other operating revenues||||||\n|Unaffiliated customers|$8,601|$2,310|$2,251|$2,750|$1,290|\n|Inter-company|143|143|\u2014|\u2014|\u2014|\n|Total revenues|8,744|2,453|2,251|2,750|1,290|\n|Costs and expenses||||||\n|Production expenses, including related taxes|1,924|489|727|455|253|\n|Exploration expenses, including dry holes and lease impairment|865|364|49|143|309|\n|General, administrative and other expenses|281|161|48|20|52|\n|Depreciation, depletion and amortization|2,222|649|463|772|338|\n|Asset impairments|532|\u2014|\u2014|532|\u2014|\n|Total costs and expenses|5,824|1,663|1,287|1,922|952|\n|Results of operations before income taxes|2,920|790|964|828|338|\n|Provision for income taxes|1,425|305|477|580|63|\n|Results of operations|$1,495|$485|$487|$248|$275|\n", + "(a) Results of operations for oil and gas producing activities in Norway were as follows for the years ended December 31:", + "||2012| 2011| 2010||\n|| (In millions)||\n|Sales and other operating revenues\u2014Unaffiliated customers|$518|$996|$524||\n|Costs and expenses|||||\n|Production expenses, including related taxes|302|290|149||\n|Exploration expenses, including dry holes and lease impairment|\u2014|10|12||\n|General, administrative and other expenses|10|9|9||\n|Depreciation, depletion and amortization|139|232|133||\n|Total costs and expenses|451|541|303||\n|Results of operations before income taxes|67|455|221||\n|Provision for income taxes|-82|295|154||\n|Results of operations|$149|$160|$67||\n", + "(b) Excludes a 2012 income tax charge of $86 million for a disputed application of an international tax treaty.", + "Oil and Gas Reserves The Corporation\u2019s proved oil and gas reserves are calculated in accordance with the Securities and Exchange Commission (SEC) regulations and the requirements of the Financial Accounting Standards Board.", + "Proved oil and gas reserves are quantities, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from known reservoirs under existing economic conditions, operating methods and government regulations.", + "The Corporation\u2019s estimation of net recoverable quantities of liquid hydrocarbons and natural gas is a highly technical process performed by internal teams of geoscience professionals and reservoir engineers.", + "Estimates of reserves were prepared by the use of appropriate geologic, petroleum engineering, and evaluation principals and techniques that are in accordance with practices generally recognized by the petroleum industry as presented in the publication of the Society of Petroleum Engineers entitled \u201cStandards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information (Revision as of February 19, 2007).", + "\u201d The method or combination of methods used in the analysis of each reservoir is based on the maturity of the reservoir, the completeness of the subsurface data available at the time of the estimate, the stage of reservoir development and the production history.", + "Where applicable, reliable technologies may be used in reserve estimation, as defined in the SEC regulations.", + "These technologies, including computational methods, must have been field tested and demonstrated to provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an analogous formation.", + "In order for reserves to be classified as proved, any required government approvals must be obtained and depending on the cost of the project, either senior management or the board of directors must commit to fund the development.", + "The Corporation\u2019s proved reserves are subject to certain risks and uncertainties, which are discussed in Item 1A, Risk Factors Related to Our Business and Operations of this Form 10-K.", + "by net repayments of other debt of $53 million.", + "During 2011, net proceeds from borrowings on available credit facilities were $422 million.", + "During 2010, net proceeds from borrowings were $1,098 million, including the August 2010 issuance of $1,250 million of 30-year fixed-rate public notes with a coupon of 5.6% scheduled to mature in 2041.", + "In January 2010, the Corporation completed the repurchase of the remaining $116 million of fixed-rate public notes that were scheduled to mature in 2011.", + "Total common stock dividends paid were $171 million in 2012, $136 million in 2011 and $131 million in 2010.", + "In 2012, the Corporation made five quarterly common stock dividend payments as a result of accelerating payment of the fourth quarter 2012 dividend, which historically would have been paid in the first quarter of 2013.", + "The Corporation received net proceeds from the exercise of stock options, including related income tax benefits of $11 million, $88 million and $54 million in 2012, 2011 and 2010, respectively.", + "Future Capital Requirements and Resources The Corporation anticipates investing a total of approximately $6.8 billion in capital and exploratory expenditures during 2013, substantially all of which is targeted for E&P operations.", + "This reflects an 18 percent reduction from the 2012 total of $8.3 billion.", + "The decrease is substantially attributable to a reduced level of spend in the Bakken driven by lower drilling and completion costs and decreased investments in infrastructure projects.", + "During 2012, the Corporation funded its capital spending through cash flows from operations, incremental borrowings and proceeds from asset sales.", + "The Corporation had a cash flow deficit of approximately $2.5 billion in 2012 and the projected deficit for 2013 is expected to moderate versus 2012 based on current commodity prices.", + "During 2012, the Corporation announced asset sales totaling $2.4 billion, of which cash proceeds of $843 million were received in 2012 and approximately $440 million were received in January 2013.", + "The Corporation is also pursuing the sale of its Russian operations, Eagle Ford assets and its terminal network.", + "The Corporation expects to fund its 2013 capital expenditures and ongoing operations, including dividends, pension contributions and debt repayments with existing cash on-hand, cash flows from operations and proceeds from asset sales.", + "Crude oil and natural gas prices are volatile and difficult to predict.", + "In addition, unplanned increases in the Corporation\u2019s capital expenditure program could occur.", + "If conditions were to change, such as a significant decrease in commodity prices or an unexpected increase in capital expenditures, the Corporation would take steps to protect its financial flexibility and may pursue other sources of liquidity, including the issuance of debt securities, the issuance of equity securities, and/or further asset sales.", + "See Overview on page 20 for a discussion of Elliott Management Corporation.", + "The table below summarizes the capacity, usage, and available capacity of the Corporation\u2019s borrowing and letter of credit facilities at December 31, 2012:", + "|| Expiration Date| Capacity| Borrowings| Letters of Credit Issued| Total Used| Available Capacity|\n||| (In millions)|\n|Revolving credit facility|April 2016|$4,000|$758|$\u2014|$758|$3,242|\n|Asset-backed credit facility|July 2013 (a)|642|600|\u2014|600|42|\n|Committed lines|Various (b)|2,730|500|463|963|1,767|\n|Uncommitted lines|Various (b)|773|490|283|773|\u2014|\n|Total||$8,145|$2,348|$746|$3,094|$5,051|\n", + "(a) Total capacity of $1 billion subject to the amount of eligible receivables posted as collateral.", + "(b) Committed and uncommitted lines have expiration dates through 2014.", + "The Corporation has a $4 billion syndicated revolving credit facility that matures in April 2016.", + "This facility can be used for borrowings and letters of credit.", + "Borrowings on the facility bear interest at 1.25% above the London Interbank Offered Rate.", + "A fee of 0.25% per annum is also payable on the amount of the facility.", + "The interest rate and facility fee are subject to adjustment if the Corporation\u2019s credit rating changes.", + "The Corporation has a 364-day asset-backed credit facility secured by certain accounts receivable from its M&R operations.", + "Under the terms of this financing arrangement, the Corporation has the ability to borrow or issue letters of credit of up to $1 billion subject to the availability of sufficient levels of eligible receivables.", + "At December 31, 2012, outstanding borrowings under this facility of $600 million were collateralized by a total of", + "HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS \u2013 (Continued) 2010: In December, the Corporation acquired approximately 167,000 net acres in the Bakken oil shale play (Bakken) in North Dakota from TRZ Energy, LLC for $1,075 million in cash.", + "In December, the Corporation also completed the acquisition of American Oil & Gas Inc. (American Oil & Gas) for approximately $675 million through the issuance of approximately 8.6 million shares of the Corporation\u2019s common stock, which increased the Corporation\u2019s acreage position in the Bakken by approximately 85,000 net acres.", + "The properties acquired were located near the Corporation\u2019s existing acreage.", + "These acquisitions strengthened the Corporation\u2019s acreage position in the Bakken, leveraged existing capabilities and infrastructure and are expected to contribute to future reserve and production growth.", + "Both of these transactions were accounted for as business combinations and the majority of the fair value of the assets acquired was assigned to unproved properties.", + "The total goodwill recorded on these transactions was $332 million after final post-closing adjustments.", + "In September, the Corporation completed the exchange of its interests in Gabon and the Clair Field in the United Kingdom for additional interests of 28% and 25%, respectively, in the Valhall and Hod fields offshore Norway.", + "This non-monetary exchange was accounted for as a business combination.", + "The transaction resulted in a pre-tax gain of $1,150 million ($1,072 million after income taxes).", + "The total combined carrying amount of the disposed assets prior to the exchange was $702 million, including goodwill of $65 million.", + "The Corporation also acquired, from a different third party, additional interests of 8% and 13% in the Valhall and Hod fields, respectively, for $507 million in cash.", + "This acquisition was accounted for as a business combination.", + "As a result of both of these transactions, the Corporation\u2019s total interests in the Valhall and Hod fields are 64% and 63%, respectively.", + "The primary reason for these transactions was to acquire long-lived crude oil reserves and future production growth.", + "For all the 2010 acquisitions and the exchange described above, the assets acquired and liabilities assumed were recorded at fair value.", + "The estimated fair value for property, plant and equipment acquired in these transactions was based primarily on an income approach (Level 3 fair value measurement).4.", + "Inventories Inventories at December 31 were as follows:", + "||2012|2011|\n||(In millions)|\n|Crude oil and other charge stocks|$493|$451|\n|Refined petroleum products and natural gas|1,362|1,762|\n|Less: LIFO adjustment|-1,123|-1,276|\n||732|937|\n|Merchandise, materials and supplies|527|486|\n|Total inventories|$1,259|$1,423|\n", + "The percentage of LIFO inventory to total crude oil, refined petroleum products and natural gas inventories was 71% and 72% at December 31, 2012 and 2011, respectively.", + "During 2012 the Corporation reduced LIFO inventories, which are carried at lower costs than current inventory costs.", + "The effect of the LIFO inventory liquidations was to decrease Cost of products sold by approximately $165 million in 2012 ($104 million after income taxes).5.", + "HOVENSA L. L. C. Joint Venture The Corporation has a 50% interest in HOVENSA, a joint venture with a subsidiary of Petroleos de Venezuela, S. A.", + "(PDVSA), which owns a refinery in St. Croix, U. S. Virgin Islands.", + "In January 2012, HOVENSA shut down its refinery as a result of continued substantial operating losses due to global economic conditions and competitive disadvantages versus other refiners, despite efforts to improve operating performance by reducing refining capacity to 350,000 from 500,000 barrels per day in the first half of 2011.", + "During 2012 and continuing into 2013, HOVENSA and the Government of the Virgin Islands engaged in discussions pertaining to HOVENSA\u2019s plan to run the facility as an oil storage terminal while the Corporation and its joint venture partner pursue a sale of HOVENSA.", + "Table of Contents VALERO ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Cash Flow Hedges Cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases, refined product sales, and natural gas purchases.", + "The objective of our cash flow hedges is to lock in the price of forecasted feedstock, product or natural gas purchases or refined product sales at existing market prices that we deem favorable.", + "As of December 31, 2011, we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products.", + "The information presents the notional volume of outstanding contracts by type of instrument and year of maturity (volumes in thousands of barrels)." + ], + "question_id": "simplong-test-374", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total value of Professional fees, Personnel, Data processing and telecommunications and Foreign exchange activity1 in 2018? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "PART II ITEM 5.", + "MARKET FOR REGISTRANT\u2019S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our Class A common stock trades on the New York Stock Exchange under the symbol \u201cMA\u201d.", + "At February 8, 2019, we had 73 stockholders of record for our Class A common stock.", + "We believe that the number of beneficial owners is substantially greater than the number of record holders because a large portion of our Class A common stock is held in \u201cstreet name\u201d by brokers.", + "There is currently no established public trading market for our Class B common stock.", + "There were approximately 287 holders of record of our non-voting Class B common stock as of February 8, 2019, constituting approximately 1.1% of our total outstanding equity.", + "Stock Performance Graph The graph and table below compare the cumulative total stockholder return of Mastercard\u2019s Class A common stock, the S&P 500 Financials and the S&P 500 Index for the five-year period ended December 31, 2018.", + "The graph assumes a $100 investment in our Class A common stock and both of the indices and the reinvestment of dividends.", + "Mastercard\u2019s Class B common stock is not publicly traded or listed on any exchange or dealer quotation system.", + "||Base period|Indexed Returns For the Years Ended December 31,|\n|Company/Index|2013|2014|2015|2016|2017|2018|\n|Mastercard|$100.00|$103.73|$118.05|$126.20|$186.37|$233.56|\n|S&P 500 Financials|100.00|115.20|113.44|139.31|170.21|148.03|\n|S&P 500 Index|100.00|113.69|115.26|129.05|157.22|150.33|\n", + "Total returns to stockholders for each of the years presented were as follows:", + "General and Administrative The significant components of our general and administrative expenses were as follows:", + "||For the Years Ended December 31,|Percent Increase (Decrease)|\n||2018|2017|2016|2018|2017|\n||($ in millions)|\n|Personnel|$3,214|$2,687|$2,225|20%|21%|\n|Professional fees|377|355|337|6%|5%|\n|Data processing and telecommunications|600|504|420|19%|20%|\n|Foreign exchange activity1|-36|106|34|**|**|\n|Other|1,019|1,001|811|2%|23%|\n|General and administrative expenses|5,174|4,653|3,827|11%|22%|\n|Special Item2|\u2014|-167|\u2014|**|**|\n|Adjusted general and administrative expenses (excluding Special Item)2|$5,174|$4,486|$3,827|15%|17%|\n", + "Note: Table may not sum due to rounding.", + "** Not meaningful 1 Foreign exchange activity includes gains and losses on foreign exchange derivative contracts and the impact of remeasurement of assets and liabilities denominated in foreign currencies.", + "See Note 22 (Foreign Exchange Risk Management) to the consolidated financial statements included in Part II, Item 8 for further discussion.2 See \u201cNon-GAAP Financial Information\u201d for further information on Special Items.", + "The primary drivers of general and administrative expenses in 2018 and 2017, versus the prior year, were as follows: ?", + "Personnel expenses increased 20% and 21%, or 19% and 20% on a currency-neutral basis, respectively.", + "The 2018 and 2017 increases were driven by a higher number of employees to support our continued investment in the areas of real-time account-based payments, digital, services, data analytics and geographic expansion.", + "The impact of acquisitions contributed 2 and 6 percentage points of growth for 2018 and 2017, respectively. ?", + "Data processing and telecommunication expenses increased 19% and 20%, respectively, both as reported and on a currency-neutral basis, due to capacity growth of our business.", + "Acquisitions contributed 3 and 8 percentage points, respectively. ?", + "Foreign exchange activity contributed a benefit of 3 percentage points in 2018 related to gains from our foreign exchange activity for derivative contracts primarily due to the strengthening of the U. S. dollar, partially offset by balance sheet remeasurement losses.", + "In 2017, foreign exchange activity had a negative impact of 2 percentage points due to greater losses from foreign exchange derivative contracts. ?", + "Other expenses increased 2% and 23%, or 2% and 25% on a currency-neutral basis, respectively.", + "In 2018, other expenses increased primarily due to the $100 million contribution to the Mastercard Impact Fund.", + "The remaining increase was due to costs to support our strategic development efforts.", + "These increases were primarily offset by the non-recurring Venezuela charge of $167 million recorded in 2017 which was the primary driver of growth for that period.", + "Other expenses include costs to provide loyalty and rewards solutions, travel and meeting expenses and rental expense for our facilities and other costs associated with our business.", + "Advertising and Marketing In 2018, advertising and marketing expenses increased 18% both as reported and on a currency-neutral basis versus 2017, primarily due to a change in accounting for certain marketing fund arrangements as a result of our adoption of the new revenue guidance, partially offset by a net decrease in spending on certain marketing campaigns.", + "For a more detailed discussion on the impact of the new revenue guidance, refer to Note 1 (Summary of Significant Accounting Policies).", + "In 2017, advertising and marketing expenses increased 11%, or 10% on a currency-neutral basis versus 2016, mainly due to higher marketing spend primarily related to certain marketing campaigns.", + "The table below shows a summary of select balance sheet data at December 31:", + "||2018|2017|\n||(in millions)|\n|Balance Sheet Data:|||\n|Current assets|$16,171|$13,797|\n|Current liabilities|11,593|8,793|\n|Long-term liabilities|7,778|6,968|\n|Equity|5,418|5,497|\n", + "We believe that our existing cash, cash equivalents and investment securities balances, our cash flow generating capabilities, our borrowing capacity and our access to capital resources are sufficient to satisfy our future operating cash needs, capital asset purchases, outstanding commitments and other liquidity requirements associated with our existing operations and potential obligations.", + "Debt and Credit Availability In February 2018, we issued $500 million principal amount of notes due in 2028 and an additional $500 million principal amount of notes due in 2048.", + "Our total debt outstanding (including the current portion) was $6.3 billion and $5.4 billion at December 31, 2018 and 2017, respectively, with the earliest maturity of $500 million of principal occurring in April 2019.", + "As of December 31, 2018, we have a commercial paper program (the \u201cCommercial Paper Program\u201d), under which we are authorized to issue up to $4.5 billion in outstanding notes, with maturities up to 397 days from the date of issuance.", + "In conjunction with the Commercial Paper Program, we have a committed unsecured $4.5 billion revolving credit facility (the \u201cCredit Facility\u201d) which expires in November 2023.", + "Borrowings under the Commercial Paper Program and the Credit Facility are to provide liquidity for general corporate purposes, including providing liquidity in the event of one or more settlement failures by our customers.", + "In addition, we may borrow and repay amounts under these facilities for business continuity purposes.", + "We had no borrowings outstanding under the Commercial Paper Program or the Credit Facility at December 31, 2018 and 2017.", + "In March 2018, we filed a universal shelf registration statement (replacing a previously filed shelf registration statement that was set to expire) to provide additional access to capital, if needed.", + "Pursuant to the shelf registration statement, we may from time to time offer to sell debt securities, guarantees of debt securities, preferred stock, Class A common stock, depository shares, purchase contracts, units or warrants in one or more offerings.", + "See Note 14 (Debt) to the consolidated financial statements included in Part II, Item 8 for further discussion on our debt, the Commercial Paper Program and the Credit Facility.", + "Dividends and Share Repurchases We have historically paid quarterly dividends on our outstanding Class A common stock and Class B common stock.", + "Subject to legally available funds, we intend to continue to pay a quarterly cash dividend.", + "However, the declaration and payment of future dividends is at the sole discretion of our Board of Directors after taking into account various factors, including our financial condition, operating results, available cash and current and anticipated cash needs.", + "The following table summarizes the annual, per share dividends paid in the years reflected:" + ], + "question_id": "simplong-test-375", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Case reserves of 2008 Net, and Exercise of stock options of 2008 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table illustrates the effect that a 10% unfavorable or favorable movement in foreign currency exchange rates, relative to the U. S. dollar, would have on the fair value of our forward exchange contracts as of October 30, 2010 and October 31, 2009:", + "||October 30, 2010|October 31, 2009|\n|Fair value of forward exchange contracts asset|$7,256|$8,367|\n|Fair value of forward exchange contracts after a 10% unfavorable movement in foreign currency exchange rates asset|$22,062|$20,132|\n|Fair value of forward exchange contracts after a 10% favorable movement in foreign currency exchange rates liability|$-7,396|$-6,781|\n", + "The calculation assumes that each exchange rate would change in the same direction relative to the U. S. dollar.", + "In addition to the direct effects of changes in exchange rates, such changes typically affect the volume of sales or the foreign currency sales price as competitors\u2019 products become more or less attractive.", + "Our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices.", + "NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) ACE Limited and Subsidiaries Under Swiss corporate law, the Company may not generally issue Common Shares below their par value.", + "In the event there is a need to raise common equity at a time when the trading price of the Company\u2019s Common Shares is below par value, the Company will need to obtain shareholder approval to decrease the par value of the Common Shares.", + "b) Shares issued, outstanding, authorized, and conditional Following is a table of changes in Common Shares issued and outstanding for the years ended December 31, 2009, 2008, and 2007:", + "||2009|2008|2007|\n|Shares issued, beginning of year|335,413,501|329,704,531|326,455,468|\n|Shares issued, net|2,000,000|3,140,194|1,213,663|\n|Exercise of stock options|168,720|2,365,401|1,830,004|\n|Shares issued under Employee Stock Purchase Plan|259,395|203,375|205,396|\n|Shares issued, end of year|337,841,616|335,413,501|329,704,531|\n|Common Shares in treasury, end of year|-1,316,959|-1,768,030|\u2013|\n|Shares issued and outstanding, end of year|336,524,657|333,645,471|329,704,531|\n| Common Shares issued to employee trust||||\n|Balance, beginning of year|-108,981|-117,231|-166,425|\n|Shares redeemed|7,500|8,250|49,194|\n|Balance, end of year|-101,481|-108,981|-117,231|\n", + "In July 2008, prior to the Continuation, the Company issued and placed 2,000,000 Common Shares in treasury principally for issuance upon the exercise of employee stock options.", + "At December 31, 2009, 1,316,959 Common Shares remain in treasury after net shares redeemed under employee share-based compensation plans.", + "Common Shares issued to employee trust are the shares issued by the Company to a rabbi trust for deferred compensa\u0002tion obligations as discussed in Note 12 f) below.", + "Shares authorized The Board is currently authorized to increase the share capital from time to time through the issuance of up to 99,750,000 fully paid up Common Shares with a par value of CHF 31.88 each.", + "Conditional share capital for bonds and similar debt instruments The share capital of the Company may be increased through the issuance of a maximum of 33,000,000 Common Shares with a par value of CHF 31.88 each, payable in full, through the exercise of conversion and/or option or warrant rights granted in connection with bonds, notes, or similar instruments, issued or to be issued by the Company, including convertible debt instruments.", + "Conditional share capital for employee benefit plans The share capital of the Company may be increased through the issuance of a maximum of 30,401,725 Common Shares with a par value of CHF 31.88 each, payable in full, in connection with the exercise of option rights granted to any employee of the Company, and any consultant, director, or other person providing services to the Company.", + "c) ACE Limited securities repurchase authorization In November 2001, the Board authorized the repurchase of any ACE issued debt or capital securities, which includes ACE\u2019s Common Shares, up to an aggregate total of $250 million.", + "These purchases may take place from time to time in the open market or in private purchase transactions.", + "At December 31, 2009, this authorization had not been utilized.", + "d) General restrictions The holders of the Common Shares are entitled to receive dividends as proposed by the Board and approved by the share\u0002holders.", + "Holders of Common Shares are allowed one vote per share provided that, if the controlled shares of any shareholder constitute ten percent or more of the outstanding Common Shares of the Company, only a fraction of the vote will be allowed", + "The process of establishing loss reserves for property and casualty claims can be complex and is subject to considerable uncertainty as it requires the use of informed estimates and judgments based on circumstances known at the date of accrual.", + "The following table shows our total reserves segregated between case reserves (including loss expense reserves) and IBNR reserves at December 31, 2009 and 2008.", + "|| 2009|2008|\n|(in millions of U.S. dollars)| Gross| Ceded| Net|Gross|Ceded|Net|\n|Case reserves|$17,307|$6,664|$10,643|$16,583|$6,539|$10,044|\n|IBNR reserves|20,476|6,081|14,395|20,593|6,396|14,197|\n|Total|$37,783|$12,745|$25,038|$37,176|$12,935|$24,241|\n", + "The following table segregates loss reserves by line of business including property and all other, casualty, and personal acci\u0002dent (A&H) at December 31, 2009 and 2008.", + "In the table, loss expenses are defined to include unallocated and allocated loss adjustment expenses.", + "For certain lines, in particular ACE International and ACE Bermuda products, loss adjustment expenses are partially included in IBNR and partially included in loss expenses.", + "|| 2009|2008|\n|(in millions of U.S. dollars)| Gross| Ceded| Net|Gross|Ceded|Net|\n|Property and all other|||||||\n|Case reserves|$3,149|$1,600|$1,549|$3,180|$1,367|$1,813|\n|Loss expenses|260|81|179|264|92|172|\n|IBNR reserves|2,028|815|1,213|2,456|1,084|1,372|\n|Subtotal|5,437|2,496|2,941|5,900|2,543|3,357|\n|Casualty|||||||\n|Case reserves|9,506|3,177|6,329|8,700|3,178|5,522|\n|Loss expenses|3,773|1,661|2,112|3,871|1,779|2,092|\n|IBNR reserves|17,777|5,110|12,667|17,455|5,144|12,311|\n|Subtotal|31,056|9,948|21,108|30,026|10,101|19,925|\n|A&H|||||||\n|Case reserves|588|144|444|536|121|415|\n|Loss expenses|31|1|30|32|2|30|\n|IBNR reserves|671|156|515|682|168|514|\n|Subtotal|1,290|301|989|1,250|291|959|\n|Total|||||||\n|Case reserves|13,243|4,921|8,322|12,416|4,666|7,750|\n|Loss expenses|4,064|1,743|2,321|4,167|1,873|2,294|\n|IBNR reserves|20,476|6,081|14,395|20,593|6,396|14,197|\n|Total|$37,783|$12,745|$25,038|$37,176|$12,935|$24,241|\n", + "The judgments used to estimate unpaid loss and loss expense reserves require different considerations depending upon the individual circumstances underlying the insured loss.", + "For example, the reserves established for high excess casualty claims, A&E claims, claims from major catastrophic events, or the IBNR for our various product lines each require different assump\u0002tions and judgments to be made.", + "Necessary judgments are based on numerous factors and may be revised as additional experience and other data become available and are reviewed, as new or improved methods are developed, or as laws change.", + "Hence, ultimate loss payments may differ from the estimate of the ultimate liabilities made at the balance sheet date.", + "Changes to our previous estimates of prior period loss reserves impact the reported calendar year underwriting results by worsening our reported results if the prior year reserves prove to be deficient or improving our reported results if the prior year reserves prove to be redundant.", + "The potential for variation in loss reserves is impacted by numerous factors, which we discuss below.", + "We establish loss and loss expense reserves for our liabilities from claims for all of the insurance and reinsurance busi\u0002ness that we write.", + "For those claims reported by insureds or ceding companies to us prior to the balance sheet date, and" + ], + "question_id": "simplong-test-376", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the roi of an investment in fidelity national information services from 2007 to 2008?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "CITIZENS FINANCIAL GROUP, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS 91 Consumer Banking", + "||As of and for the Year Ended December 31,|||\n|(dollars in millions)|2013|2012|Change|Percent|\n|Net interest income|$2,176|$2,197|-$21|-1%|\n|Noninterest income|1,025|1,187|-162|-14|\n|Total revenue|3,201|3,384|-183|-5|\n|Noninterest expense|2,522|2,691|-169|-6|\n|Profit before provision for credit losses|679|693|-14|-2|\n|Provision for credit losses|308|408|-100|-24|\n|Income before income tax expense|371|285|86|30|\n|Income tax expense|129|100|29|29|\n|Net income|$242|$185|$57|31|\n|Loans and leases and loans held for sale (year-end)(1)|$45,019|$46,289|-$1,270|-3|\n|Average Balances:|||||\n|Total assets|$46,465|$47,824|-$1,359|-3|\n|Loans and leases and loans held for sale-1|45,106|46,455|-1,349|-3|\n|Deposits and deposits held for sale|72,158|70,812|1,346|2|\n|Interest-earning assets|45,135|46,479|-1,344|-3%|\n|Key Metrics:|||||\n|Net interest margin|4.82%|4.73%|9 bps||\n|Efficiency ratio-2|78.76|79.45|-69 bps||\n|Average loans to average deposits ratio|62.51|65.60|-309 bps||\n|Return on average total tangible assets-2|0.52|0.39|13 bps||\n|Return on average tangible common equity-2 (3)|5.48|4.89|59 bps||\n", + "(1) Loans held for sale include mortgage loans held for sale and loans relating to the Chicago Divestiture.", + "(2) These are non-GAAP financial measures.", + "For more information on the computation of these non-GAAP financial measures, see \u201c\u2014Principal Components of Operations and Key Performance Metrics Used By Management \u2014 Key Performance Metrics and Non-GAAP Financial Measures.", + "\u201d (3) Operating segments are allocated capital on a risk-adjusted basis considering economic and regulatory capital requirements.", + "We approximate that regulatory capital is equivalent to a sustainable target level for CET1 and then allocate that approximation to the segments based on economic capital.", + "Consumer Banking net income of $242 million in 2013 increased $57 million, or 31%, from 2012 as a 5% decrease in revenue was more than offset by a 6% decrease in noninterest expense and a $100 million decrease in provision for credit losses.2012 unusual items included a $75 million ($48 million after tax) benefit in revenue relating to a gain on the sale of Visa class B shares and a $138 million ($87 million after tax) settlement charge in noninterest expense associated with overdraft litigation.", + "Excluding these items, net income increased $18 million as the benefit of lower provision for credit losses and continued expense discipline more than offset the lower revenue reflecting continued pressure from the relatively persistent low-rate environment as well as the impact of regulatory changes on service charges and card fees.", + "Net interest income of $2.2 billion in 2013 declined $21 million, or 1%, largely driven by a 3% decrease in earning assets and a reduction in deposit spreads.", + "The average loan portfolio declined $1.3 billion to $45.1 billion, driven by a $1.8 billion decrease in home equity balances given industry wide higher levels of mortgage refinance activity.", + "In 2013, we originated $5.7 billion in mortgages compared with $7.9 billion in 2012.", + "We sold 67% of 2013 originations compared to 70% in 2012.", + "Average deposits grew 2% to $72.2 billion reflecting a $3.0 billion increase in money market deposits, partially offset by a $2.4 billion decrease in certificates of deposit.", + "Noninterest income of $1.0 billion decreased $162 million, or 14%, from 2012, which included the benefit of the $75 million gain on the sale of Visa class B shares.", + "Excluding this gain, noninterest income decreased $87 million driven by a $53 million decrease in service charges and a $36 million decrease in mortgage banking fees.", + "The decrease in mortgage banking fees reflected a $2.2 billion decrease in origination volumes as well as lower gains on the sale of mortgages as secondary market spreads narrowed.", + "Gains on sale of mortgages decreased $77 million and volume related fees declined $28 million, partially offset by the recovery of mortgage servicing rights valuations and lower amortization expense.", + "||12/07|12/08|12/09|12/10|12/11|12/12|\n|Fidelity National Information Services, Inc.|100.00|70.08|101.93|120.01|117.34|157.38|\n|S&P 500|100.00|63.00|79.67|91.67|93.61|108.59|\n|S&P Supercap Data Processing & Outsourced Services|100.00|68.26|99.41|97.33|118.68|151.90|\n", + "Item 6.", + "Selected Financial Data.", + "The selected financial data set forth below constitutes historical financial data of FIS and should be read in conjunction with Item 7, Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial Statements and Supplementary Data, included elsewhere in this report.", + "On October 1, 2009, we completed the acquisition of Metavante Technologies, Inc. (\"Metavante\").", + "The results of operations and financial position of Metavante are included in the Consolidated Financial Statements since the date of acquisition.", + "On July 2, 2008, we completed the spin-off of Lender Processing Services, Inc. , which was a former wholly-owned subsidiary (\"LPS\") .", + "For accounting purposes, the results of LPS are presented as discontinued operations.", + "Accordingly, all prior periods have been restated to present the results of FIS on a stand alone basis and include the results of LPS up to July 2, 2008, as discontinued operations.", + "option at the purchase price of the optioned land.", + "During the year ended November 30, 2008, the effect of consolidation of these option contracts was an increase of $32.4 million to consolidated inventory not owned with a corresponding increase to liabilities related to consolidated inventory not owned in our consolidated balance sheet as of November 30, 2008.", + "This increase was offset primarily by our exercise of options to acquire land under certain contracts previously consolidated, resulting in a net decrease in consolidated inventory not owned of $141.3 million.", + "To reflect the purchase price of the inventory consolidated under FIN 46R, we reclassified $2.5 million of related option deposits from land under development to consolidated inventory not owned in the accompanying consolidated balance sheet as of November 30, 2008.", + "The liabilities related to consolidated inventory not owned primarily represent the difference between the option exercise prices for the optioned land and our cash deposits.", + "Our exposure to loss related to our option contracts with third parties and unconsolidated entities consisted of our non-refundable option deposits and pre-acquisition costs totaling $191.2 million and $317.1 million, respectively, at November 30, 2008 and 2007.", + "Additionally, we had posted $89.5 million and $193.3 million, respectively, of letters of credit in lieu of cash deposits under certain option contracts as of November 30, 2008 and 2007.", + "Contractual Obligations and Commercial Commitments The following table summarizes our contractual obligations at November 30, 2008:", + "| Contractual Obligations|| Payments Due by Period|\n|| Total| Less than 1 year| 1 to 3 years| 3 to 5 years| More than 5 years|\n|| (In thousands)|\n|Homebuilding\u2014Senior notes and other debts payable|$2,544,935|427,542|730,516|387,438|999,439|\n|Financial services\u2014Notes and other debts payable|225,783|225,682|46|42|13|\n|Interest commitments under interest bearing debt -1|570,929|126,520|208,084|145,401|90,924|\n|Operating leases|169,116|48,411|68,716|28,229|23,760|\n|Total contractual obligations -2|$3,510,763|828,155|1,007,362|561,110|1,114,136|\n", + "(1) Interest commitments on variable interest-bearing debt are determined based on the interest rate as of November 30, 2008.", + "(2) Total contractual obligations exclude our FASB Interpretation No.48, Accounting for Uncertainty in Income Taxes\u2014on Interpretation of FASB Statement No.109, (\u201cFIN 48\u201d) liability of $100.2 million as of November 30, 2008 because we were unable to make reasonable estimates as to the period of cash settlement with the respective taxing authorities.", + "We are subject to the usual obligations associated with entering into contracts (including option contracts) for the purchase, development and sale of real estate in the routine conduct of our business.", + "Option contracts for the purchase of land generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our option.", + "This reduces our financial risk associated with land holdings.", + "At November 30, 2008, we had access to 38,589 homesites through option contracts with third parties and unconsolidated entities in which we have investments.", + "At November 30, 2008, we had $191.2 million of non-refundable option deposits and pre-acquisition costs related to certain of these homesites and $89.5 million of letters of credit posted in lieu of cash deposits under certain option contracts.", + "At November 30, 2008, we had letters of credit outstanding in the amount of $446.0 million (which included the $89.5 million of letters of credit discussed above).", + "These letters of credit are generally posted either with regulatory bodies to guarantee our performance of certain development and construction activities or in lieu of cash deposits on option contracts.", + "Additionally, at November 30, 2008, we had outstanding performance and surety bonds related to site improvements at various projects (including certain projects in our joint ventures) of $1.1 billion.", + "Although significant development and construction activities have been completed related to these site improvements, these bonds are generally not released until all of the development and construction activities are completed.", + "As of November 30, 2008, there were approximately $444.2 million, or 42%, of costs to complete related to these site improvements.", + "We do not presently anticipate any draws upon these bonds, but if any such draws occur, we do not believe they would have a material effect on our financial position, results of operations or cash flows.", + "Our Financial Services segment had a pipeline of loan applications in process of $710.8 million at November 30, 2008.", + "Loans in process for which interest rates were committed to the borrowers and builder commitments for loan programs totaled $248.8 million as of November 30, 2008.", + "Substantially all of these commitments were for periods of 60 days or less.", + "Since a portion of these commitments is expected to expire", + "Notes to Consolidated Financial Statements (Dollars in thousands, except share and per share amounts and where indicated as in millions or billions) Accounting for Beneficial Interests in Mall of America In January 2006, an entity controlled by the Simon family assigned to us its right to receive cash flow, capital distributions, and related profits and losses with respect to a portion of its ownership interest in the Mall of America through Mall of America Associates, or MOAA.", + "This beneficial interest was transferred subject to a credit facility repayable from MOAA\u2019s distributions from the property.", + "As a result of this assignment, we began recognizing our share of MOAA\u2019s income during the first quarter of 2006, including the proportionate share of earnings of MOAA since August 2004 through the first quarter of 2006 of $10.2 million.", + "This income is included with \u201cincome from unconsolidated entities\u201d in our consolidated statement of operations.", + "We accounted for our beneficial interests in MOAA under the equity method of accounting.", + "On November 2, 2006, the Simon family entity sold its partnership interest to an affiliate of another partner in MOAA and settled all pending litigation, terminating our beneficial interests.", + "As a result of this sale, we ceased recording income from this property\u2019s operations, and recorded a gain of approximately $86.5 million as a result of the receipt of $102.2 million of capital transaction proceeds assigned to us from this arrangement which is included in \u201cgain on sale of assets and interests in unconsolidated entities\u201d in the consolidated statements of operations and comprehensive income.", + "Use of Estimates We prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States, or GAAP.", + "GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period.", + "Our actual results could differ from these estimates.", + "Segment Disclosure SFAS No.131, \u201cDisclosures about Segments of an Enterprise and Related Information\u201d (SFAS 131) requires disclosure of certain operating and financial data with respect to separate business activities within an enterprise.", + "Our primary business is the ownership, development, and management of retail real estate.", + "We have aggregated our retail operations, including regional malls, Premium Outlet Centers, The Mills, and community/lifestyle centers, into one reportable segment because they have similar economic characteristics and we provide similar products and services to similar types of tenants.", + "Further, all material operations are within the United States and no customer or tenant comprises more than 10% of consolidated revenues.", + "Deferred Costs and Other Assets Deferred costs and other assets include the following as of December 31:" + ], + "question_id": "simplong-test-377", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with the most Registered investment companies, what is the growth rate of Total plan assets, subject to leveling in level1\uff1f", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) During 2017, we completed ten acquisitions, eight of which were included in the Integrated Agency Networks (\u201cIAN\u201d) operating segment, and two of which were included in the Constituency Management Group (\u201cCMG\u201d) operating segment.", + "These acquisitions included a digital marketing agency based in the U. S. , a data science and business intelligence firm based in the U. S. with operations in China, an advertising and consulting company based in Indonesia, a strategic communications agency based in the U. K. , an independent creative agency based in the U. K. , a retail branding and design firm based in the U. S. , a content creation and marketing agency based in the Netherlands, an independent media agency and digital consultancy based in Finland, and an integrated marketing communications agency based in Canada.", + "During 2017, we recorded approximately $62.0 of goodwill and intangible assets related to our acquisitions.", + "During 2016, we completed ten acquisitions, three of which were included in the IAN operating segment, and seven of which were included in the CMG operating segment.", + "The most significant acquisitions included a product and service design consultancy based in the U. S. , an integrated healthcare marketing communications agency based in the U. S. , a content creation and digital agency with offices in the U. S. and the U. K. , a mobile consultancy and application development agency based in the U. K. , a full-service public relations and digital agency based in China, a search engine optimization and digital content marketing agency based in the U. K. , and a mobile focused digital agency based in the U. K. During 2016, we recorded approximately $149.0 of goodwill and intangible assets related to these acquisitions.", + "During 2015, we completed five acquisitions, four of which were included in the IAN operating segment, and one of which was included in the CMG operating segment.", + "The most significant acquisitions included a full-service digital agency in the U. K. , a group of creative marketing agencies based in Russia, and a media planning and buying agency with significant digital capabilities in Canada.", + "During 2015, we recorded approximately $61.0 of goodwill and intangible assets related to these acquisitions.", + "The results of operations of our acquired companies were included in our consolidated results from the closing date of each acquisition.", + "We did not make any payments in stock related to our acquisitions in 2017, 2016 or 2015.", + "Details of cash paid for current and prior years\u2019 acquisitions are listed below.", + "||Years ended December 31,|\n||2017|2016|2015|\n|Cost of investment: current-year acquisitions|$36.8|$65.7|$37.8|\n|Cost of investment: prior-year acquisitions|54.6|40.7|53.1|\n|Less: net cash acquired|-7.1|-13.6|-9.2|\n|Total cost of investment|84.3|92.8|81.7|\n|Operating payments1|47.1|19.1|18.4|\n|Total cash paid for acquisitions2|$131.4|$111.9|$100.1|\n", + "1 Represents cash payments for amounts that have been recognized in operating expenses since the date of acquisition either relating to adjustments to estimates in excess of the initial value of contingent payments recorded or were contingent upon the future employment of the former owners of the acquired companies.", + "Amounts are reflected in the operating section of the Consolidated Statements of Cash Flows.2 Of the total cash paid for acquisitions, $30.6, $52.0 and $28.6 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the investing section of the Consolidated Statements of Cash Flows as acquisitions, net of cash acquired.", + "These amounts relate to initial payments for new transactions.", + "Of the total cash paid for acquisitions, $53.7, $40.8 and $53.1 for the years ended December 31, 2017, 2016 and 2015, respectively, are classified under the financing section of the Consolidated Statements of Cash Flows as acquisition-related payments.", + "These amounts relate to deferred payments and increases in our ownership interest for prior acquisitions.", + "For companies acquired, we estimate the fair values of the assets and liabilities based on 100% of the business for consolidation.", + "The purchase price in excess of the estimated fair value of the tangible net assets acquired is allocated to identifiable intangible assets and then to goodwill.", + "Due to the characteristics of advertising, specialized marketing and communication services companies, our acquisitions typically do not have significant amounts of tangible assets since the principal assets we acquire are client relationships and talent.", + "As a result, a substantial portion of the purchase price is primarily allocated to customer lists, trade names and goodwill.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Guarantees We have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries.", + "The amount of parent company guarantees on lease obligations was $829.2 and $857.3 as of December 31, 2017 and 2016, respectively, and the amount of parent company guarantees primarily relating to uncommitted lines of credit was $491.0 and $395.6 as of December 31, 2017 and 2016, respectively.", + "In the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee.", + "As of December 31, 2017, there were no material assets pledged as security for such parent company guarantees.", + "Contingent Acquisition Obligations The following table details the estimated future contingent acquisition obligations payable in cash as of December 31, 2017.", + "||2018|2019|2020|2021|2022|Thereafter|Total|\n|Deferred acquisition payments|$41.9|$27.5|$16.1|$24.4|$4.8|$6.3|$121.0|\n|Redeemable noncontrolling interests and call options with affiliates1|37.1|26.4|62.9|10.3|6.6|4.1|147.4|\n|Total contingent acquisition payments|$79.0|$53.9|$79.0|$34.7|$11.4|$10.4|$268.4|\n", + "1 We have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions.", + "The estimated amounts listed would be paid in the event of exercise at the earliest exercise date.", + "We have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of December 31, 2017.", + "These estimated payments of $24.8 are included within the total payments expected to be made in 2018, and will continue to be carried forward into 2019 or beyond until exercised or expired.", + "Redeemable noncontrolling interests are included in the table at current exercise price payable in cash, not at applicable redemption value, in accordance with the authoritative guidance for classification and measurement of redeemable securities.", + "The majority of these payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revision in accordance with the terms of the respective agreements.", + "See Note 4 for further information relating to the payment structure of our acquisitions.", + "Legal Matters In the normal course of business, we are involved in various legal proceedings, and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities.", + "The types of allegations that arise in connection with such legal proceedings vary in nature, but can include claims related to contract, employment, tax and intellectual property matters.", + "We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated.", + "In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages.", + "While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.", + "As previously disclosed, on April 10, 2015, a federal judge in Brazil authorized the search of the records of an agency\u2019s offices in S?o Paulo and Brasilia, in connection with an ongoing investigation by Brazilian authorities involving payments potentially connected to local government contracts.", + "The Company had previously investigated the matter and taken a number of remedial and disciplinary actions.", + "The Company is in the process of concluding a settlement related to these matters with government agencies.", + "The Company confirmed that one of its standalone domestic agencies has been contacted by the Department of Justice Antitrust Division for documents regarding video production practices and is cooperating with the government.", + "Notes to Consolidated Financial Statements \u2013 (continued) (Amounts in Millions, Except Per Share Amounts) Assumption", + "||Domestic Pension Plan|Foreign Pension Plans|Domestic Postretirement Benefit Plan|\n|Years ended December 31,|2018|2017|2016|2018|2017|2016|2018|2017|2016|\n|Net periodic cost||||||||||\n|Discount rate|3.70%|4.20%|4.80%|2.36%|2.52%|3.61%|3.65%|4.05%|4.65%|\n|Rate of compensation increase|N/A|N/A|N/A|2.37%|2.36%|3.18%|N/A|N/A|N/A|\n|Expected return on plan assets|7.00%|7.00%|7.00%|4.70%|4.66%|5.38%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.31%|1.29%|1.35%|N/A|N/A|N/A|\n|Benefit obligation||||||||||\n|Discount rate|4.35%|3.70%|4.20%|2.61%|2.36%|2.52%|4.30%|3.65%|4.05%|\n|Rate of compensation increase|N/A|N/A|N/A|2.58%|2.37%|2.36%|N/A|N/A|N/A|\n|Interest crediting rates|5.10%|5.10%|5.10%|1.44%|1.31%|1.29%|N/A|N/A|N/A|\n|Health care cost trend rate assumed for next year||||||||\n|Initial rate (weighted-average)|||||||6.25%|6.50%|6.75%|\n|Year ultimate rate is reached|||||||2024|2024|2024|\n|Ultimate rate|||||||5.00%|5.00%|5.00%|\n", + "Discount Rates \u2013 At December 31, 2018, 2017 and 2016, we determined our discount rates for our domestic pension plan, foreign pension plans and domestic postretirement benefit plan based on either a bond selection/settlement approach or bond yield curve approach.", + "Using the bond selection/settlement approach, we determine the discount rate by selecting a portfolio of corporate bonds appropriate to provide for the projected benefit payments.", + "Using the bond yield curve approach, we determine the discount rate by matching the plans\u2019 cash flows to spot rates developed from a yield curve.", + "Both approaches utilize high-quality AA-rated corporate bonds and the plans\u2019 projected cash flows to develop a discounted value of the benefit payments, which is then used to develop a single discount rate.", + "In countries where markets for high-quality long-term AA corporate bonds are not well developed, a portfolio of long-term government bonds is used as a basis to develop hypothetical corporate bond yields, which serve as a basis to derive the discount rate.", + "Expected Return on Assets \u2013 Our expected rate of return is determined at the beginning of each year and considers asset class index returns over various market and economic conditions, current and expected market conditions, risk premiums associated with asset classes and long-term inflation rates.", + "We determine both a short-term and long-term view and then select a long-term rate of return assumption that matches the duration of our liabilities.", + "Fair Value of Pension Plan Assets The following table presents the fair value of our domestic and foreign pension plan assets as of December 31, 2018 and 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.", + "See Note 12 for a description of the fair value hierarch", + "||December 31, 2018|December 31, 2017|\n|Plan assets subject to fair value hierarchy|Level 1|Level 2|Level 3|Total|Level 1|Level 2|Level 3|Total|\n|Registered investment companies|$13.0|$0.0|$0.0|$13.0|$14.7|$0.0|$0.0|$14.7|\n|Limited partnerships|0.0|0.0|25.6|25.6|0.0|0.0|29.5|29.5|\n|Fixed income securities|23.1|0.0|0.0|23.1|23.4|0.0|0.0|23.4|\n|Insurance contracts|0.0|5.8|0.0|5.8|0.0|7.9|0.0|7.9|\n|Other|20.0|0.0|0.0|20.0|27.7|0.0|0.0|27.7|\n|Total plan assets, subject to leveling|$56.1|$5.8|$25.6|$87.5|$65.8|$7.9|$29.5|$103.2|\n|Plan assets measured at net asset value|||||||||\n|Other investments measured at net asset value1||||366.2||||399.8|\n|Total plan assets||||$453.7||||$503.0|\n", + "1 Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy but are included to reconcile to the amounts presented in the fair value of plan assets table above" + ], + "question_id": "simplong-test-378", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with largest amount of Securities America, Inc.-3(4) for Actual Capital, what's the sum of Threadneedle-6 ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "nonperformance credit spread moves to a zero spread over the LIBOR swap curve, the reduction to net income would be approximately $71 million, net of DAC and DSIC amortization and income taxes, based on December 31, 2010 credit spreads.", + "Liquidity and Capital Resources Overview We maintained substantial liquidity during the year ended December 31, 2010.", + "At December 31, 2010, we had $2.9 billion in cash and cash equivalents compared to $3.1 billion at December 31, 2009.", + "We have additional liquidity available through an unsecured revolving credit facility for up to $500 million that we entered into on September 30, 2010 and which expires in September 2011.", + "Under the terms of the underlying credit agreement, we can increase this facility to $750 million upon satisfaction of certain approval requirements.", + "Available borrowings under this facility are reduced by any outstanding letters of credit.", + "We have had no borrowings under this credit facility and had $1 million of outstanding letters of credit at December 31, 2010.", + "In March 2010, we issued $750 million of 5.30% senior notes due 2020.", + "A portion of the proceeds was used to retire $340 million of debt that matured in November 2010.", + "On April 30, 2010, we closed on the Columbia Management Acquisition and paid $866 million in the second quarter with cash on hand and assumed liabilities of $30 million.", + "Our subsidiaries, Ameriprise Bank, FSB and RiverSource Life, are members of the Federal Home Loan Bank (\u2018\u2018FHLB\u2019\u2019) of Des Moines, which provides these subsidiaries with access to collateralized borrowings.", + "As of December 31, 2010, we had no borrowings from the FHLB.", + "In 2010, we entered into repurchase agreements to reduce reinvestment risk from higher levels of expected annuity net cash flows.", + "Repurchase agreements allow us to receive cash to reinvest in longer-duration assets, while paying back the short-term debt with cash flows generated by the fixed income portfolio.", + "The balance of repurchase agreements at December 31, 2010 was $397 million, which is collateralized with agency residential mortgage backed securities and corporate debt securities from our investment portfolio.", + "We believe cash flows from operating activities, available cash balances and our availability of revolver borrowings will be sufficient to fund our operating liquidity needs.", + "Dividends from Subsidiaries Ameriprise Financial is primarily a parent holding company for the operations carried out by our wholly owned subsidiaries.", + "Because of our holding company structure, our ability to meet our cash requirements, including the payment of dividends on our common stock, substantially depends upon the receipt of dividends or return of capital from our subsidiaries, particularly our life insurance subsidiary, RiverSource Life, our face-amount certificate subsidiary, Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019), AMPF Holding Corporation, which is the parent company of our retail introducing broker-dealer subsidiary, Ameriprise Financial Services, Inc. (\u2018\u2018AFSI\u2019\u2019) and our clearing broker-dealer subsidiary, American Enterprise Investment Services, Inc. (\u2018\u2018AEIS\u2019\u2019), our Auto and Home insurance subsidiary, IDS Property Casualty Insurance Company (\u2018\u2018IDS Property Casualty\u2019\u2019), doing business as Ameriprise Auto & Home Insurance, our transfer agent subsidiary, Columbia Management Investment Services Corp. , our investment advisory company, Columbia Management Investment Advisers, LLC, and Threadneedle.", + "The payment of dividends by many of our subsidiaries is restricted and certain of our subsidiaries are subject to regulatory capital requirements.", + "Actual capital and regulatory capital requirements as of December 31 for our wholly owned subsidiaries subject to regulatory capital requirements were as follows:", + "||Actual Capital|Regulatory Capital Requirements|\n||2010|2009|2010|2009|\n||(in millions)|\n|RiverSource Life-1(2)|$3,813|$3,450|$652|$803|\n|RiverSource Life of NY-1(2)|291|286|38|44|\n|IDS Property Casualty-1(3)|411|405|141|133|\n|Ameriprise Insurance Company-1(3)|44|46|2|2|\n|ACC-4(5)|184|293|173|231|\n|Threadneedle-6|182|201|104|155|\n|Ameriprise Bank, FSB-7|302|255|294|231|\n|AFSI-3(4)|119|79|1|1|\n|Ameriprise Captive Insurance Company-3|38|28|12|12|\n|Ameriprise Trust Company-3|41|36|40|32|\n|AEIS-3(4)|115|133|35|29|\n|Securities America, Inc.-3(4)|2|15|#|#|\n|RiverSource Distributors, Inc.-3(4)|24|41|#|#|\n|Columbia Management Investment Distributors, Inc.-3(4)|27|13|#|#|\n", + "# Amounts are less than $1 million.", + "(1) Actual capital is determined on a statutory basis.", + "(2) Regulatory capital requirement is based on the statutory risk-based filing", + "The Company believes that its unrecognized tax benefits could decrease by $10,273 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "Belgian Tax Matter The Company believes that its unrecognized tax benefits could decrease by $10,273 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "Belgian Tax Matter In January 2012, the Company received a \u20ac23,789 assessment from the Belgian tax authority related to its year ended December 31, 2008, asserting that the Company had understated its Belgian taxable income for that year.", + "The Company filed a formal protest in the first quarter of 2012 refuting the Belgian tax authority\u00a1\u00afs position.", + "The Belgian tax authority set aside the assessment in the third quarter of 2012 and refunded all related deposits, including interest income of \u20ac1,583 earned on such deposits.", + "However, on October 23, 2012, the Belgian tax authority notified the Company of its intent to increase the Company\u00a1\u00afs taxable income for the year ended December 31, 2008 under a revised theory.", + "On December 28, 2012, the Belgian tax authority issued assess\u0002ments for the years ended December 31, 2005 and December 31, 2009, in the amounts of \u20ac46,135 and \u20ac35,567, respectively, including penalties, but excluding interest.", + "The Company filed a formal protest during the first quarter of 2013 relating to the new assessments.", + "In September 2013, the Belgian tax authority denied the Company\u00a1\u00afs protests, and the Company has brought these two years before the Court of First Appeal in Bruges.", + "In December 2013, the Belgian tax authority issued additional assessments related to the years ended December 31, 2006, 2007, and 2010, in the amounts of \u20ac38,817, \u20ac39,635, and \u20ac43,117, respectively, including penalties, but excluding interest.", + "The Company filed formal protests during the first quarter of 2014, refuting the Belgian tax authority\u00a1\u00afs position for each of the years assessed.", + "In the quarter ended June 28, 2014, the Company received a formal assessment for the year ended December 31, 2008, totaling \u20ac30,131, against which the Company also submitted its formal protest.", + "All 4 additional years have been brought before the Court of First Appeal in November 2014.", + "In January of 2015, the Company met with the Court of First Appeal in Bruges, Belgium and agreed with the Belgium tax authorities to consolidate and argue the issues regarding the years 2005 and 2009, and apply the ruling to all of the open years (to the extent there are no additional facts/procedural arguments in the other years).", + "On January 27, 2016, the Court of First Appeal in Bruges, Belgium ruled in favor of the Company with respect to the calendar years ending December 31, 2005 and December 31, 2009.", + "The Company anticipates that the Belgian tax authority will appeal this ruling.", + "The Company disagrees with the views of the Belgian tax authority on this matter and will persist in its vigorous defense if there is an appeal.", + "Although there can be no assurances, the Company believes the ultimate outcome of these actions will not have a material adverse effect on its financial condition but could have a material adverse effect on its results of operations, liquidity or cash flows in a given quarter or year.", + "NOTE 14 COMMITMENTS AND CONTINGENCIES The Company is obligated under various operating leases for office and manufacturing space, machinery, and equipment.", + "Future minimum lease payments under non-cancelable capital and operating leases (with initial or remaining lease terms in excess of one year) as of December 31:", + "||Capital|Operating|Total FuturePayments|\n|2016|$1,385|95,407|96,792|\n|2017|1,257|76,748|78,005|\n|2018|1,139|54,306|55,445|\n|2019|972|34,907|35,879|\n|2020|555|20,263|20,818|\n|Thereafter|4,537|15,454|19,991|\n|Total payments|9,845|297,085|306,930|\n|Less amount representing interest|1,913|||\n|Present value of capitalized lease payments|$7,932|||\n", + "Rental expense under operating leases was $110,771, $114,529 and $116,541 in 2015, 2014 and 2013, respectively.", + "The Company had approximately $1,381 and $47,713 in standby letters of credit for various insurance contracts and commitments to foreign vendors as of December 31, 2015 and 2014, respectively that expire within two years.", + "The Company is involved in litigation from time to time in the regular course of its business.", + "Except as noted below and in Note 13\u00a1\u00aaIncome Taxes Belgian Tax Matter, there are no material legal proceedings pending or known by the Company to be contemplated to which the Company is a party or to which any of its property is subject.", + "Each of these facilities has a renewal provision for two one-year extensions, subject to lender approval.", + "The following table shows our capitalization structure as of December 31, 2011 and 2010, as well as an adjusted capitalization structure that we believe is consistent with the manner in which the rating agencies currently view the Junior Notes:", + "||2011|2010|\n|Capitalization Structure|Actual|Adjusted|Actual|Adjusted|\n||(Millions of Dollars)|\n|Common Equity|$3,963.3|$4,213.3|$3,802.1|$4,052.1|\n|Preferred Stock of Subsidiary|30.4|30.4|30.4|30.4|\n|Long-Term Debt (including current maturities)|4,646.9|4,396.9|4,405.4|4,155.4|\n|Short-Term Debt|669.9|669.9|657.9|657.9|\n|Total Capitalization|$9,310.5|$9,310.5|$8,895.8|$8,895.8|\n|Total Debt|$5,316.8|$5,066.8|$5,063.3|$4,813.3|\n|Ratio of Debt to Total Capitalization|57.1%|54.4%|56.9%|54.1%|\n", + "For a summary of the interest rate, maturity and amount outstanding of each series of our long-term debt on a consolidated basis, see the Consolidated Statements of Capitalization.", + "Included in Long-Term Debt on our Consolidated Balance Sheet as of December 31, 2011 and 2010 is $500 million aggregate principal amount of the Junior Notes.", + "The adjusted presentation attributes $250 million of the Junior Notes to Common Equity and $250 million to Long-Term Debt.", + "We believe this presentation is consistent with the 50% or greater equity credit the majority of rating agencies currently attribute to the Junior Notes.", + "The adjusted presentation of our consolidated capitalization structure is presented as a complement to our capitalization structure presented in accordance with GAAP.", + "Management evaluates and manages Wisconsin Energy's capitalization structure, including its total debt to total capitalization ratio, using the GAAP calculation as adjusted by the rating agency treatment of the Junior Notes.", + "Therefore, we believe the non-GAAP adjusted presentation reflecting this treatment is useful and relevant to investors in understanding how management and the rating agencies evaluate our capitalization structure.", + "As described in Note I -- Common Equity, in the Notes to Consolidated Financial Statements, certain restrictions exist on the ability of our subsidiaries to transfer funds to us.", + "We do not expect these restrictions to have any material effect on our operations or ability to meet our cash obligations.", + "Wisconsin Electric is the obligor under two series of tax exempt pollution control refunding bonds in outstanding principal amounts of $147 million.", + "In August 2009, Wisconsin Electric terminated letters of credit that provided credit and liquidity support for the bonds, which resulted in a mandatory tender of the bonds.", + "Wisconsin Electric issued commercial paper to fund the purchase of the bonds.", + "As of December 31, 2011, the repurchased bonds were still outstanding, but were reported as a reduction in our consolidated long-term debt because they are held by Wisconsin Electric.", + "Depending on market conditions and other factors, Wisconsin Electric may change the method used to determine the interest rate on the bonds and have them remarketed to third parties.", + "Bonus Depreciation Provisions In December 2010, the President of the United States signed tax legislation extending the bonus depreciation rules to certain projects placed in service in 2010, 2011 and 2012.", + "As a result of this extension, we recognized increased federal tax depreciation in 2010 and 2011 relating to assets placed in service during those years, including the Glacier Hills Wind Park, OC 1 and OC 2.", + "In addition, we also anticipate an increase in tax depreciation in 2012 for assets placed in service during 2012, including the Oak Creek AQCS project.", + "As a result of the increased tax depreciation in 2011 and 2012, we will not make federal income tax payments for 2011 and do not anticipate making federal income tax payments for 2012." + ], + "question_id": "simplong-test-379", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the total amount of U.S. large cap stocks , U.S. small cap stocks, Non-U.S. large cap stocks and Non-U.S. small cap stocks in 2013? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "targets.", + "At December 31, 2013, there were no significant holdings of any single issuer and the exposure to derivative instruments was not significant.", + "The following tables present the Company\u2019s pension plan assets measured at fair value on a recurring basis:", + "||December 31, 2013|\n|Asset Category|Level 1|Level 2|Level 3|Total|\n||(in millions)|\n|Equity securities:|||||\n|U.S. large cap stocks|$97|$43|$\u2014|$140|\n|U.S. small cap stocks|55|1|\u2014|56|\n|Non-U.S. large cap stocks|21|35|\u2014|56|\n|Non-U.S. small cap stocks|21|\u2014|\u2014|21|\n|Emerging markets|14|23|\u2014|37|\n|Debt securities:|||||\n|U.S. investment grade bonds|17|14|\u2014|31|\n|U.S. high yield bonds|\u2014|21|\u2014|21|\n|Non-U.S. investment grade bonds|\u2014|14|\u2014|14|\n|Real estate investment trusts|\u2014|\u2014|2|2|\n|Hedge funds|\u2014|\u2014|20|20|\n|Pooled pension funds|\u2014|126|\u2014|126|\n|Cash equivalents|20|\u2014|\u2014|20|\n|Total|$245|$277|$22|$544|\n", + "||December 31, 2012|\n|Asset Category|Level 1|Level 2|Level 3|Total|\n||(in millions)|\n|Equity securities:|||||\n|U.S. large cap stocks|$89|$14|$\u2014|$103|\n|U.S. small cap stocks|43|1|\u2014|44|\n|Non-U.S. large cap stocks|17|30|\u2014|47|\n|Emerging markets|13|20|\u2014|33|\n|Debt securities:|||||\n|U.S. investment grade bonds|20|12|\u2014|32|\n|U.S. high yield bonds|\u2014|20|\u2014|20|\n|Non-U.S. investment grade bonds|\u2014|15|\u2014|15|\n|Real estate investment trusts|\u2014|\u2014|12|12|\n|Hedge funds|\u2014|\u2014|18|18|\n|Pooled pension funds|\u2014|104|\u2014|104|\n|Cash equivalents|9|\u2014|\u2014|9|\n|Total|$191|$216|$30|$437|\n", + "Equity securities are managed to track the performance of common market indices for both U. S. and non-U.", + "S. securities, primarily across large cap, small cap and emerging market asset classes.", + "Debt securities are managed to track the performance of common market indices for both U. S. and non-U.", + "S. investment grade bonds as well as a pool of U. S. high yield bonds.", + "Real estate investment trusts are managed to track the performance of a broad population of investment grade non-agricultural income producing properties.", + "The Company\u2019s investments in hedge funds include investments in a multi-strategy fund and an off-shore fund managed to track the performance of broad fund of fund indices.", + "Pooled pension funds are managed to return 1.5% in excess of a common index of similar pooled pension funds on a rolling three year basis.", + "Cash equivalents consist of holdings in a money market fund that seeks to equal the return of the three month U. S. Treasury bill.", + "The fair value of real estate investment trusts is based primarily on the underlying cash flows of the properties within the trusts which are significant unobservable inputs and classified as Level 3.", + "The fair value of the hedge funds is based on the proportionate share of the underlying net assets of the funds, which are significant unobservable inputs and classified as Level 3.", + "The fair value of pooled pension funds and equity securities held in collective trust funds is based on the fund\u2019s NAV and classified as Level 2 as they trade in principal-to-principal markets.", + "Equity securities and mutual funds traded in active markets are classified as Level 1.", + "For debt securities and cash equivalents, the valuation techniques and classifications are consistent with those used for the Company\u2019s own investments as described in Note 14.", + "Entergy New Orleans, Inc. Management's Financial Discussion and Analysis 339 Net Revenue 2008 Compared to 2007 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges.", + "Following is an analysis of the change in net revenue comparing 2008 to 2007.", + "||Amount (In Millions)|\n|2007 net revenue|$231.0|\n|Volume/weather|15.5|\n|Net gas revenue|6.6|\n|Rider revenue|3.9|\n|Base revenue|-11.3|\n|Other|7.0|\n|2008 net revenue|$252.7|\n", + "The volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007.", + "Entergy New Orleans estimates that approximately 141,000 electric customers and 93,000 gas customers have returned since Hurricane Katrina and are taking service as of December 31, 2008, compared to approximately 132,000 electric customers and 86,000 gas customers as of December 31, 2007.", + "Billed retail electricity usage increased a total of 184 GWh compared to the same period in 2007, an increase of 4%.", + "The net gas revenue variance is primarily due to an increase in base rates in March and November 2007.", + "Refer to Note 2 to the financial statements for a discussion of the base rate increase.", + "The rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective March 2007 as a result of the City Council's approval of a settlement agreement in October 2006.", + "The approved storm reserve has been set to collect $75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account.", + "The settlement agreement is discussed in Note 2 to the financial statements.", + "The base revenue variance is primarily due to a base rate recovery credit, effective January 2008.", + "The base rate credit is discussed in Note 2 to the financial statements.", + "Gross operating revenues and fuel and purchased power expenses Gross operating revenues increased primarily due to: x an increase of $58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales; x an increase of $47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage; and x an increase of $22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in March 2007 and November 2007.", + "Fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand.", + "Table of Contents Seasonality Our revenues are seasonal based on the demand for cruises.", + "Demand is strongest for cruises during the Northern Hemisphere\u2019s summer months and holidays.", + "In order to mitigate the impact of the winter weather in the Northern Hemisphere and to capitalize on the summer season in the Southern Hemisphere, our brands have focused on deployment in the Caribbean, Asia and Australia during that period.", + "Passengers and Capacity Selected statistical information is shown in the following table (see Financial Presentation- Description of Certain Line Items and Selected Operational and Financial Metrics under Item 7.", + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations, for definitions):" + ], + "question_id": "simplong-test-380", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the total amount of Group retirement products of Net Investment Income, and Decrease in cash of 2010 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "American International Group, Inc. and Subsidiaries Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations Continued Domestic Retirement Services Results Domestic Retirement Services results, presented on a sub-product basis for 2007, 2006 and 2005 were as follows:", + "|(in millions)|Premiums and Other Considerations|Net Investment Income|Net Realized Capital Gains (Losses)|Total Revenues|Operating Income|\n| 2007||||||\n|Group retirement products|$446|$2,280|$-451|2,275|$696|\n|Individual fixed annuities|96|3,664|-829|2,931|530|\n|Individual variable annuities|627|166|-45|748|122|\n|Individual annuities \u2014 runoff*|21|387|-83|325|-1|\n|Total|$1,190|$6,497|$-1,408|$6,279|$1,347|\n|2006||||||\n|Group retirement products|$386|$2,279|$-144|$2,521|$1,017|\n|Individual fixed annuities|122|3,581|-257|3,446|1,036|\n|Individual variable annuities|531|202|5|738|193|\n|Individual annuities \u2014 runoff*|18|426|-8|436|77|\n|Total|$1,057|$6,488|$-404|$7,141|$2,323|\n|2005||||||\n|Group retirement products|$351|$2,233|$-67|$2,517|$1,055|\n|Individual fixed annuities|97|3,346|-214|3,229|858|\n|Individual variable annuities|467|217|4|688|189|\n|Individual annuities \u2014 runoff*|22|430|\u2014|452|62|\n|Total|$937|$6,226|$-277|$6,886|$2,164|\n| Percentage Increase/(Decrease) 2007 vs. 2006:||||||\n|Group retirement products|16%|\u2014%|\u2014%|-10%|-32%|\n|Individual fixed annuities|-21|2|\u2014|-15|-49|\n|Individual variable annuities|18|-18|\u2014|1|-37|\n|Individual annuities \u2014 runoff|17|-9|\u2014|-25|\u2014|\n|Total|13%|\u2014%|\u2014%|-12%|-42%|\n|Percentage Increase/(Decrease) 2006 vs. 2005:||||||\n|Group retirement products|10%|2%|\u2014%|\u2014%|-4%|\n|Individual fixed annuities|26|7|\u2014|7|21|\n|Individual variable annuities|14|-7|25|7|2|\n|Individual annuities \u2014 runoff|-18|-1|\u2014|-4|24|\n|Total|13%|4%|\u2014%|4%|7%|\n", + "* Primarily represents runoff annuity business sold through discontinued distribution relationships.2007 and 2006 Comparison Total revenues and operating income for Domestic Retirement Services declined in 2007 compared to 2006 primarily due to increased net realized capital losses.", + "Net realized capital losses for Domestic Retirement Services increased due to higher other- than-temporary impairmentcharges of$1.2 billion in 2007 compared to $368 million in 2006 and sales to reposition assets in certain investment portfolios for both group retirement products and individual ?xed annuities, as well as from changes in the value of certain individual variable annuity product guarantees and related hedges associated with living bene?t features.", + "Changes in actuarial estimates, including DAC unlockingsand re?nements to estimates resulting from actuarial valuation system enhance- ments, resulted in a net decrease to operating income of $112 million in 2007.", + "Group retirement products operating income in 2007 de- creased compared to 2006 primarily as a result of increased net realized capital losses due to higher other-than-temporary impair- mentcharges and an increase in DAC amortization related to both an increase in surrenders and to policy changes adding guaran- teed minimum withdrawal bene?t riders to existing contracts.", + "Operating income was also negatively affected in 2007 by an $18 million adjustment,primarily re?ecting changes in actuarial estimates from the conversion to a new valuation system.", + "These were partially offset by higher variable annuity fees which resulted from an increase in separate account assets compared to 2006.", + "Individual ?xed annuities operating income in 2007 decreased compared to 2006 as a result of net realized capital losses due to higher other-than-temporary impairmentcharges partially offset by increases in partnership income.", + "The decline in operating income also re?ected higher DAC amortization and sales induce-ment costs related to increased surrenders and a $33 million charge re?ecting changes in actuarial estimates from the conver-", + "American International Group, Inc. , and Subsidiaries Expected Loss Models \u2014 Under this mechanism, the amount of collateral to be posted is determined based on the amount of expected credit losses, generally determined using a rating-agency model.", + "Negotiated Amount \u2014 Under this mechanism, the amount of collateral to be posted is determined based on terms negotiated between AIGFP and the counterparty, which could be a fixed percentage of the notional amount or present value of premiums to be earned by AIGFP.", + "The following table presents the amount of collateral postings by underlying mechanism as described above with respect to the regulatory capital relief portfolio (prior to consideration of transactions other than the Capital Markets super senior credit default swaps subject to the same Master Agreements) as of the periods ended:", + "|(in millions)|December 31, 2009|December 31, 2010|February 16, 2011|\n|Reference to market indices|$60|$19|$10|\n|Expected loss models|20|-|-|\n|Negotiated amount|230|217|216|\n|Total|$310|$236|$226|\n", + "Arbitrage Portfolio \u2014 Multi-Sector CDOs In the CDS transactions with physical settlement provisions, in respect of multi-sector CDOs, the standard CSA provisions for the calculation of exposure have been modified, with the exposure amount determined pursuant to an agreed formula that is based on the difference between the net notional amount of such transaction and the market value of the relevant underlying CDO security, rather than the replacement value of the transaction.", + "As of any date, the \u2018\u2018market value\u2019\u2019 of the relevant CDO security is the price at which a marketplace participant would be willing to purchase such CDO security in a market transaction on such date, while the \u2018\u2018replacement value of the transaction\u2019\u2019 is the cost on such date of entering into a credit default swap transaction with substantially the same terms on the same referenced obligation (e. g. , the CDO security).", + "In cases where a formula is utilized, a transaction-specific threshold is generally factored into the calculation of exposure, which reduces the amount of collateral required to be posted.", + "These thresholds typically vary based on the credit ratings of AIG and/or the reference obligations, with greater posting obligations arising in the context of lower ratings.", + "For the large majority of counterparties to these transactions, the Master Agreement and CSA cover non-CDS transactions (e. g. , interest rate and cross currency swap transactions) as well as CDS transactions.", + "As a result, the amount of collateral to be posted by AIGFP in relation to the CDS transactions will be added to or offset by the amount, if any, of the exposure AIG has to the counterparty on the non-CDS transactions.", + "Arbitrage Portfolio \u2014 Corporate Debt/CLOs All of the Capital Markets corporate arbitrage-CLO transactions are subject to CSAs.", + "These transactions are treated the same as other transactions subject to the same Master Agreement and CSA, with the calculation of collateral in accordance with the standard CSA procedures outlined above.", + "The vast majority of corporate debt transactions are no longer subject to future collateral postings.", + "In exchange for an upfront payment to an intermediary counterparty, AIGFP has eliminated all future obligations to post collateral on corporate debt transactions that mature after 2011.", + "Collateral Calls AIGFP has received collateral calls from counterparties in respect of certain super senior credit default swaps, of which a large majority relate to multi-sector CDOs.", + "To a lesser extent, AIGFP has also received collateral calls in respect of certain super senior credit default swaps entered into by counterparties for regulatory capital relief purposes and in respect of corporate arbitrage.", + "From time to time, valuation methodologies used and estimates made by counterparties with respect to certain super senior credit default swaps or the underlying reference CDO securities, for purposes of determining the", + "ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES The following table presents a summary of AIG\u2019s Consolidated Statement of Cash Flows:", + "| Years Ended December 31, (in millions) |2012|2011|2010|\n|Summary:||||\n|Net cash provided by (used in) operating activities|$3,676|$-81|$16,597|\n|Net cash provided by (used in) investing activities|16,612|36,448|-9,912|\n|Net cash used in financing activities|-20,564|-36,926|-9,261|\n|Effect of exchange rate changes on cash|16|29|39|\n|Decrease in cash|-260|-530|-2,537|\n|Cash at beginning of year|1,474|1,558|4,400|\n|Change in cash of businesses held for sale|-63|446|-305|\n|Cash at end of year|$1,151|$1,474|$1,558|\n", + "Operating Cash Flow Activities Interest payments totaled $4.0 billion in 2012 compared to $9.0 billion in 2011.", + "Cash paid for interest in 2011 includes the payment of FRBNY Credit Facility accrued compounded interest totaling $6.4 billion.", + "Excluding interest payments, AIG generated positive operating cash flow of $7.7 billion and $8.9 billion in 2012 and 2011, respectively.", + "Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits.", + "The ability of insurance companies to generate positive cash flow is affected by the frequency and severity of losses under their insurance policies, policy retention rates and operating expenses.", + "Cash provided by AIG Property Casualty operating activities was $1.1 billion in 2012 compared to $1.9 billion in 2011, primarily reflecting the decrease in net premiums written as a result of the continued execution of strategic initiatives to improve business mix and the timing of the cash flows used to pay claims and claims adjustment expenses and the related reinsurance recoveries.", + "Cash provided by operating activities by AIG Life and Retirement was $2.9 billion in 2012 compared to $2.4 billion in 2011, primarily reflecting efforts to actively manage spread income.", + "Cash provided by operating activities of discontinued operations of $2.9 billion in 2012 compared to $6.2 billion in 2011, includes ILFC, and in 2011 and 2010, foreign life insurance subsidiaries that were divested in 2011, including Nan Shan, AIG Star and AIG Edison.", + "Net cash provided by operating activities declined in 2011 compared to 2010, principally due to the following: ?", + "the cash payment by AIG Parent of $6.4 billion in accrued compounded interest and fees under the FRBNY Credit Facility.", + "In prior periods, these payments were paid in-kind and did not affect operating cash flows; ?", + "cash provided by operating activities of foreign life subsidiaries declined by $10.4 billion due to the sale of those subsidiaries (AIA, ALICO, AIG Star, AIG Edison and Nan Shan).", + "The subsidiaries generated operational cash inflows of $3.4 billion and $13.8 billion in 2011 and 2010, respectively; and ?", + "the effect of catastrophes and the cession of a large portion of AIG Property Casualty\u2019s net asbestos liabilities in the U. S. to NICO.", + "Excluding the impact of the NICO cession and catastrophes, cash provided by AIG\u2019s reportable segments in 2011 is consistent with 2010, as increases in claims paid were offset by increases in premiums collected at the insurance subsidiaries.", + "Investing Cash Flow Activities Net cash provided by investing activities for 2012 includes the following items: ?", + "payments received relating to the sale of the underlying assets held by ML II of approximately $1.6 billion; ?", + "payments of approximately $8.5 billion received in connection with the dispositions of ML III assets by the FRBNY;", + "ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE low interest rate environment, partially offset by growth in average assets.", + "See MD&A \u2013 Investments \u2013 Life Insurance Companies for additional information on the investment strategy, asset-liability management process and invested assets of our Life Insurance Companies, which include the invested assets of the Institutional Markets business.", + "General operating expenses in 2014 increased slightly compared to 2013, primarily due to investments in technology.2013 and 2012 Comparison Pre-tax operating income for 2013 increased compared to 2012, due in part to higher net investment income from alternative investments, partially offset by lower base net investment income.", + "Interest credited to policyholder account balances in 2012 included $110 million of expense resulting from a comprehensive review of reserves for the GIC portfolio.", + "Results for 2013 included a full year of the growing stable value wrap business, which contributed $31 million to the increase in pre-tax operating income compared to 2012.", + "Stable value wrap notional assets under management grew to $24.6 billion at December 31, 2013 from $10.4 billion at December 31, 2012, including the notional amount of contracts transferred from an AIG affiliate.", + "Net investment income for 2013 increased slightly compared to 2012, primarily due to higher net investment income from alternative investments, largely offset by lower income from the base portfolio.", + "The increase in alternative investment income in 2013 compared to 2012 reflected higher hedge fund income due to favorable equity market conditions.", + "The decrease in base net income was primarily due to investment of available cash, including proceeds from sales of securities made during 2013 to utilize capital loss carryforwards, at rates below the weighted average yield of the overall portfolio.", + "General operating expenses in 2013 increased compared to 2012, primarily to support increased volume in the stable value wrap business.", + "Institutional Markets Premiums, Deposits and Net Flows For Institutional Markets, premiums represent amounts received on traditional life insurance policies and life-contingent payout annuities or structured settlements.", + "Premiums and deposits is a non-GAAP financial measure that includes direct and assumed premiums as well as deposits received on universal life insurance and investment-type annuity contracts, including GICs and stable value wrap funding agreements.", + "The following table presents a reconciliation of Institutional Markets premiums and deposits to GAAP premiums:", + "|(in millions)|2014|2013|2012|\n|Premiums and deposits|$3,797|$991|$774|\n|Deposits|-3,344|-354|-289|\n|Other|-21|-27|-27|\n|Premiums|$432|$610|$458|\n", + "The decrease in premiums in 2014 compared to 2013 was primarily due to a high volume of single-premium products sold in 2013, including life-contingent payout annuities.", + "Sales of these products decreased in 2014 compared to 2013 due to a more competitive environment as well as continued low interest rates.", + "The increase in deposits in 2014 compared to 2013 included a $2.5 billion deposit to the separate accounts of one of the Life Insurance Companies for a stable value wrap funding agreement.", + "The majority of stable value wrap sales are measured based on the notional amount included in assets under management, but do not include the receipt of funds that would be included in premiums and deposits.", + "The increase in deposits in 2014 compared to 2013 also reflected a $450 million GIC issued in 2014.", + "The increase in premiums in 2013 compared to 2012 reflected a high volume of single-premium product sales in 2013, including structured settlements with life contingencies and terminal funding annuities.", + "The increase in deposits in 2013 compared to 2012 reflected strong sales of high net worth products, primarily private placement variable annuities." + ], + "question_id": "simplong-test-381", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the ratio of the share repurchase in 2014 to 2015", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Uncertain Tax Positions The following is a reconciliation of the Company's beginning and ending amount of uncertain tax positions (in millions):", + "||2015|2014|\n|Balance at January 1|$191|$164|\n|Additions based on tax positions related to the current year|31|31|\n|Additions for tax positions of prior years|53|10|\n|Reductions for tax positions of prior years|-18|-6|\n|Settlements|-32|\u2014|\n|Business combinations|\u2014|5|\n|Lapse of statute of limitations|-5|-11|\n|Foreign currency translation|-2|-2|\n|Balance at December 31|$218|$191|\n", + "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.", + "Table XIV Quarterly Supplemental Financial Data", + "||2016 Quarters|2015 Quarters|\n|(Dollars in millions, except per share information)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Fully taxable-equivalent basis data-1|||||||||\n|Net interest income|$10,526|$10,429|$10,341|$10,700|$9,911|$10,127|$9,739|$10,070|\n|Total revenue, net of interest expense|20,224|21,863|21,509|21,005|19,807|21,219|21,262|21,566|\n|Net interest yield|2.23%|2.23%|2.23%|2.33%|2.14%|2.19%|2.16%|2.26%|\n|Efficiency ratio|65.08|61.66|62.73|70.54|70.73|65.70|65.65|73.39|\n", + "(1) FTE basis is a non-GAAP financial measure.", + "FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes.", + "The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices.", + "For more information on these performance measures and ratios, see Supplemental Financial Data on page 26 and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.", + "|(Dollars in millions, shares in thousands)|2016|2015|2014|2013|2012|\n|Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis||||||\n|Net interest income|$41,096|$38,958|$40,779|$40,719|$40,135|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Net interest income on a fully taxable-equivalent basis|$41,996|$39,847|$41,630|$41,578|$41,036|\n|Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis||||||\n|Total revenue, net of interest expense|$83,701|$82,965|$85,894|$87,502|$82,798|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Total revenue, net of interest expense on a fully taxable-equivalent basis|$84,601|$83,854|$86,745|$88,361|$83,699|\n|Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis||||||\n|Income tax expense (benefit)|$7,247|$6,234|$2,443|$4,194|$-1,320|\n|Fully taxable-equivalent adjustment|900|889|851|859|901|\n|Income tax expense (benefit) on a fully taxable-equivalent basis|$8,147|$7,123|$3,294|$5,053|$-419|\n|Reconciliation of average common shareholders\u2019 equity to average tangible common shareholders\u2019 equity||||||\n|Common shareholders\u2019 equity|$241,621|$230,173|$222,907|$218,340|$216,999|\n|Goodwill|-69,750|-69,772|-69,809|-69,910|-69,974|\n|Intangible assets (excluding MSRs)|-3,382|-4,201|-5,109|-6,132|-7,366|\n|Related deferred tax liabilities|1,644|1,852|2,090|2,328|2,593|\n|Tangible common shareholders\u2019 equity|$170,133|$158,052|$150,079|$144,626|$142,252|\n|Reconciliation of average shareholders\u2019 equity to average tangible shareholders\u2019 equity||||||\n|Shareholders\u2019 equity|$266,277|$251,981|$238,317|$233,819|$235,681|\n|Goodwill|-69,750|-69,772|-69,809|-69,910|-69,974|\n|Intangible assets (excluding MSRs)|-3,382|-4,201|-5,109|-6,132|-7,366|\n|Related deferred tax liabilities|1,644|1,852|2,090|2,328|2,593|\n|Tangible shareholders\u2019 equity|$194,789|$179,860|$165,489|$160,105|$160,934|\n|Reconciliation of year-end common shareholders\u2019 equity to year-end tangible common shareholders\u2019 equity||||||\n|Common shareholders\u2019 equity|$241,620|$233,903|$224,167|$219,124|$218,194|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible common shareholders\u2019 equity|$170,432|$162,090|$151,738|$145,872|$143,962|\n|Reconciliation of year-end shareholders\u2019 equity to year-end tangible shareholders\u2019 equity||||||\n|Shareholders\u2019 equity|$266,840|$256,176|$243,476|$232,475|$236,962|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible shareholders\u2019 equity|$195,652|$184,363|$171,047|$159,223|$162,730|\n|Reconciliation of year-end assets to year-end tangible assets||||||\n|Assets|$2,187,702|$2,144,287|$2,104,539|$2,102,064|$2,209,981|\n|Goodwill|-69,744|-69,761|-69,777|-69,844|-69,976|\n|Intangible assets (excluding MSRs)|-2,989|-3,768|-4,612|-5,574|-6,684|\n|Related deferred tax liabilities|1,545|1,716|1,960|2,166|2,428|\n|Tangible assets|$2,116,514|$2,072,474|$2,032,110|$2,028,812|$2,135,749|\n", + "(1) Presents reconciliations of non-GAAP financial measures to GAAP financial measures.", + "We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation.", + "Other companies may define or calculate these measures differently.", + "For more information on non-GAAP financial measures and ratios we use in assessing the results of the Corporation, see Supplemental Financial Data on page 26.", + "As of December 31, 2012, we: ?", + "owned and operated a petroleum refinery in El Dorado, Kansas, two refinery facilities located in Tulsa, Oklahoma, a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the \u201cNavajo Refinery\u201d), a refinery located in Cheyenne, Wyoming and a refinery in Woods Cross, Utah (the \u201cWoods Cross Refinery\u201d); ?", + "owned and operated NK Asphalt Partners (\u201cNK Asphalt\u201d) which operates various asphalt terminals in Arizona and New Mexico; ?", + "owned Ethanol Management Company (\u201cEMC\u201d), a products terminal and blending facility near Denver, Colorado, and a 50% interest in Sabine Biofuels II, LLC (\u201cSabine Biofuels\u201d), a biodiesel production facility located in Port Arthur, Texas; and ?", + "owned a 44% interest in HEP, a consolidated VIE, which includes our 2% general partner interest.", + "HEPowns and operates logistic assets consisting of petroleum product and crude oil pipelines and terminal, tankage and loading rack facilities that principally support our refining and marketing operations in the Mid-Continent, Southwest and Rocky Mountain regions of the United States and Alon USA, Inc. 's (\u201cAlon\u201d) refinery in Big Spring, Texas.", + "Additionally, HEPowns a 75% interest in UNEV Pipeline, L. L. C. (\u201cUNEV\u201d), which owns a 12-inch refined products pipeline from Salt Lake City, Utah to Las Vegas, Nevada, together with terminal facilities in the Cedar City, Utah and North Las Vegas areas (the \u201cUNEV Pipeline\u201d) and a 25% interest in SLC Pipeline LLC (the \u201cSLC Pipeline\u201d), a 95-mile intrastate pipeline system that serves refineries in the Salt Lake City area.", + "Our operations are currently organized into two reportable segments, Refining and HEP.", + "The Refining segment includes the operations of our El Dorado, Tulsa, Navajo, Cheyenne and Woods Cross Refineries and NK Asphalt.", + "The HEPsegment involves all of the operations of HEP effective March 1, 2008 (date of reconsolidation).", + "The financial information about our segments is discussed in Note 21 \u201cSegment Information\u201d in the Notes to Consolidated Financial Statements.", + "REFINERY OPERATIONS Our refinery operations serve the Mid-Continent, Southwest and Rocky Mountain regions of the United States.", + "We own and operate five complex refineries having an aggregate crude capacity of 443,000 barrels per stream day.", + "Each of our refineries has the complexity to convert discounted, heavy and sour crude oils into a high percentage of gasoline, diesel and other high-value refined products.", + "For 2012, gasoline, diesel fuel, jet fuel and specialty lubricants (excluding volumes purchased for resale) represented 50%, 31%, 6% and 3%, respectively, of our total refinery sales volumes.", + "The tables presented below and elsewhere in this discussion of our refinery operations set forth information, including non-GAAP performance measures, about our refinery operations.", + "The cost of products and refinery gross and net operating margins do not include the effect of depreciation and amortization.", + "Reconciliations to amounts reported under GAAP are provided under \u201cReconciliations to Amounts Reported Under Generally Accepted Accounting Principles\u201d following Item 7A of Part II of this Form 10-K." + ], + "question_id": "simplong-test-382", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of investment income in the range of 100 and 1000 in 2014? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "$43.3 million in 2011 compared to $34.1 million in 2010.", + "The Retail segment represented 13% and 15% of the Company\u2019s total net sales in 2011 and 2010, respectively.", + "The Retail segment\u2019s operating income was $4.7 billion, $3.2 billion, and $2.3 billion during 2012, 2011, and 2010 respectively.", + "These year-over-year increases in Retail operating income were primarily attributable to higher overall net sales that resulted in significantly higher average revenue per store during the respective years.", + "Gross Margin Gross margin for 2012, 2011 and 2010 are as follows (in millions, except gross margin percentages):", + "||2012|2011|2010|\n|Net sales|$156,508|$108,249|$65,225|\n|Cost of sales|87,846|64,431|39,541|\n|Gross margin|$68,662|$43,818|$25,684|\n|Gross margin percentage|43.9%|40.5%|39.4%|\n", + "The gross margin percentage in 2012 was 43.9%, compared to 40.5% in 2011.", + "This year-over-year increase in gross margin was largely driven by lower commodity and other product costs, a higher mix of iPhone sales, and improved leverage on fixed costs from higher net sales.", + "The increase in gross margin was partially offset by the impact of a stronger U. S. dollar.", + "The gross margin percentage during the first half of 2012 was 45.9% compared to 41.4% during the second half of 2012.", + "The primary drivers of higher gross margin in the first half of 2012 compared to the second half are a higher mix of iPhone sales and improved leverage on fixed costs from higher net sales.", + "Additionally, gross margin in the second half of 2012 was also affected by the introduction of new products with flat pricing that have higher cost structures and deliver greater value to customers, price reductions on certain existing products, higher transition costs associated with product launches, and continued strengthening of the U. S. dollar; partially offset by lower commodity costs.", + "The gross margin percentage in 2011 was 40.5%, compared to 39.4% in 2010.", + "This year-over-year increase in gross margin was largely driven by lower commodity and other product costs.", + "The Company expects to experience decreases in its gross margin percentage in future periods, as compared to levels achieved during 2012, and the Company anticipates gross margin of about 36% during the first quarter of 2013.", + "Expected future declines in gross margin are largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases.", + "Future strengthening of the U. S. dollar could further negatively impact gross margin.", + "The foregoing statements regarding the Company\u2019s expected gross margin percentage in future periods, including the first quarter of 2013, are forward-looking and could differ from actual results because of several factors including, but not limited to those set forth above in Part I, Item 1A of this Form 10-K under the heading \u201cRisk Factors\u201d and those described in this paragraph.", + "In general, gross margins and margins on individual products will remain under downward pressure due to a variety of factors, including continued industry wide global product pricing pressures, increased competition, compressed product life cycles, product transitions and potential increases in the cost of components, as well as potential increases in the costs of outside manufacturing services and a potential shift in the Company\u2019s sales mix towards products with lower gross margins.", + "In response to competitive pressures, the Company expects it will continue to take product pricing actions, which would adversely affect gross margins.", + "Gross margins could also be affected by the Company\u2019s ability to manage product quality and warranty costs effectively and to stimulate demand for certain of its products.", + "Due to the Company\u2019s significant international operations, financial results can be significantly affected in the short-term by fluctuations in exchange rates.", + "PRUDENTIAL FINANCIAL, INC. Notes to Consolidated Financial Statements The Company\u2019s liability for future policy benefits is also inclusive of liabilities for guaranteed benefits related to certain long-duration life and annuity contracts.", + "Liabilities for guaranteed benefits with embedded derivative features are primarily in \u201cother contract liabilities\u201d in the table above.", + "The remaining liabilities for guaranteed benefits are primarily reflected with the underlying contract.", + "See Note 11 for additional information regarding liabilities for guaranteed benefits related to certain long-duration life and annuity contracts.", + "Premium deficiency reserves included in \u201cFuture policy benefits\u201d are established, if necessary, when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and expenses.", + "Premium deficiency reserves have been recorded for the group single premium annuity business, which consists of limited-payment, long-duration traditional, non-participating annuities; structured settlements; single premium immediate annuities with life contingencies; long-term care; and for certain individual health policies.", + "Unpaid claims and claim adjustment expenses primarily reflect the Company\u2019s estimate of future disability claim payments and expenses as well as estimates of claims incurred but not yet reported as of the balance sheet dates related to group disability products.", + "Unpaid claim liabilities that are discounted use interest rates ranging from 3.0% to 6.4%.", + "Policyholders\u2019 Account Balances Policyholders\u2019 account balances at December 31 for the years indicated are as follows:", + "||2015|2014|\n||(in millions)|\n|Individual annuities|$37,384|$37,718|\n|Group annuities|27,141|27,200|\n|Guaranteed investment contracts and guaranteed interest accounts|14,122|14,428|\n|Funding agreements|3,997|4,691|\n|Interest-sensitive life contracts|32,502|30,406|\n|Dividend accumulation and other|21,638|21,707|\n|Total policyholders\u2019 account balances|$136,784|$136,150|\n", + "Policyholders\u2019 account balances primarily represent an accumulation of account deposits plus credited interest less withdrawals, expense charges and mortality charges, if applicable.", + "These policyholders\u2019 account balances also include provisions for benefits under non\u0002life contingent payout annuities.", + "Included in \u201cFunding agreements\u201d at December 31, 2015 and 2014 are $2,957 million and $2,705 million, respectively, related to the Company\u2019s FANIP.", + "Under this program, which has a maximum authorized amount of $15 billion, a Delaware statutory trust issues medium-term notes to investors that are secured by funding agreements issued to the trust by Prudential Insurance.", + "The outstanding notes have fixed or floating interest rates that range from 0.5% to 2.6% and original maturities ranging from two to ten years.", + "Included in the amounts at December 31, 2015 and 2014 is the medium-term note liability, which is carried at amortized cost, of $2,958 million and $2,705 million, respectively.", + "For additional details on the FANIP, see Note 5.", + "Also included in \u201cFunding agreements\u201d are collateralized funding agreements issued to the Federal Home Loan Bank of New York (\u201cFHLBNY\u201d) of $1,001 million and $1,947 million, as of December 31, 2015 and 2014, respectively.", + "These obligations, which are carried at amortized cost, have fixed or floating interest rates that range from 0.8% to 1.7% and original maturities ranging from four to seven years.", + "For additional details on the FHLBNY program, see Note 14.", + "Interest crediting rates range from 0% to 7.5% for interest-sensitive life contracts and from 0% to 12.5% for contracts other than interest-sensitive life.", + "Less than 1% of policyholders\u2019 account balances have interest crediting rates in excess of 8%.11.", + "CERTAIN LONG-DURATION CONTRACTS WITH GUARANTEES The Company issues variable annuity contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder.", + "The Company also issues variable annuity contracts with general and separate account options where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals (\u201creturn of net deposits\u201d).", + "In certain of these variable annuity contracts, the Company also contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return (\u201cminimum return\u201d), and/or (2) the highest contract value on a specified date adjusted for any withdrawals (\u201ccontract value\u201d).", + "These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods.", + "The Company also issues annuity contracts with market value adjusted investment options (\u201cMVAs\u201d), which provide for a return of principal plus a fixed rate of return if held-to-maturity, or, alternatively, a \u201cmarket adjusted value\u201d if surrendered prior to maturity or if funds are reallocated to other investment options.", + "The market value adjustment may result in a gain or loss to the Company, depending on crediting rates or an indexed rate at surrender, as applicable.", + "The Company also issues fixed deferred annuity contracts without MVA that have a guaranteed credited rate and annuity benefit.", + "In addition, the Company issues certain variable life, variable universal life and universal life contracts where the Company contractually guarantees to the contractholder a death benefit even when there is insufficient value to cover monthly mortality and expense charges, whereas otherwise the contract would typically lapse (no-lapse guarantee).", + "Variable life and variable universal life contracts are offered with general and separate account options.", + "Operating Results The following table sets forth the Individual Annuities segment\u2019s operating results for the periods indicated.", + "||Year ended December 31,|\n||2015|2014|2013|\n||(in millions)|\n|Operating results:||||\n|Revenues|$4,695|$4,710|$4,465|\n|Benefits and expenses|2,898|3,243|2,380|\n|Adjusted operating income|1,797|1,467|2,085|\n|Realized investment gains (losses), net, and related adjustments|1,588|521|-5,918|\n|Related charges|-624|-137|1,716|\n|Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures|$2,761|$1,851|$-2,117|\n", + "Adjusted Operating Income 2015 to 2014 Annual Comparison.", + "Adjusted operating income increased $330 million.", + "Excluding the impacts of changes in the estimated profitability of the business, discussed below, adjusted operating income increased $39 million.", + "The increase was driven by higher asset-based fee income due to growth in average variable annuity account values, net of a related increase in asset-based commissions, a decline in interest expense driven by lower debt, and a decline in amortization costs.", + "Partially offsetting this net increase were costs for contract cancellations in connection with remediation of an error in an illustration contained in certain product marketing materials, higher operating expenses and a decline in net investment income driven by lower income on non-coupon investments.", + "The impacts of changes in the estimated profitability of the business include adjustments to the amortization of DAC and other costs and to the reserves for the GMDB and GMIB features of our variable annuity products.", + "These adjustments resulted in a net benefit of $162 million and a net charge of $129 million in 2015 and 2014, respectively.", + "The $162 million net benefit in 2015 primarily reflected the net impact of equity market performance on contractholder accounts relative to our assumptions, as well as a net benefit resulting from our annual review and update of assumptions.", + "The $129 million net charge in 2014 primarily reflected the impact of lower expected rates of return on fixed income investments within contractholder accounts and on future expected claims relative to our assumptions, which more than offset a net favorable impact from equity market performance.", + "Partially offsetting this net charge was a net benefit resulting from the annual review and update of assumptions performed in that year.2014 to 2013 Annual Comparison.", + "Adjusted operating income decreased $618 million.", + "Excluding the impacts of changes in the estimated profitability of the business, discussed below, adjusted operating income increased $207 million.", + "The increase was driven by higher asset-based fee income due to growth in average variable annuity account values, net of a related increase in asset-based commissions.", + "Also contributing to the increase were lower amortization costs and reserve provisions for the GMDB and GMIB features of our variable annuity products.", + "Adjustments to the amortization of DAC and other costs and to the reserves for the GMDB and GMIB features of our variable annuity products resulted in a net charge of $129 million and a net benefit of $696 million in 2014 and 2013, respectively.", + "The $129 million net charge in 2014 primarily reflected the impact of lower expected rates of return on fixed income investments within contractholder accounts and on future expected claims relative to our assumptions, which more than offset a net favorable impact from equity market performance.", + "Partially offsetting this net charge was a net benefit resulting from the annual review and update of assumptions performed in that year.", + "The $696 million net benefit in 2013 included a $301 million net benefit resulting from the annual review and update of assumptions and other refinements performed in that year.", + "The remaining net benefit reflected the impact of positive market performance on contractholder accounts relative to our assumptions.", + "Revenues, Benefits and Expenses 2015 to 2014 Annual Comparison.", + "Revenues, as shown in the table above under \u201c\u2014Operating Results,\u201d decreased $15 million, primarily driven by a $27 million decrease in net investment income due to lower income on non-coupon investments, partially offset by a $19 million increase in policy charges and fee income due to growth in average variable annuity account values.", + "Benefits and expenses, as shown in the table above under \u201c\u2014Operating Results,\u201d decreased $345 million.", + "Absent the $291 million net decrease related to the impacts of certain changes in our estimated profitability of the business discussed above, benefits and expenses decreased $54 million.", + "Interest expense decreased $38 million driven by lower debt, and interest credited to policyholders\u2019 account balances decreased $26 million driven by lower average account values in the general account.", + "Partially offsetting these decreases was a $14 million increase in policyholders\u2019 benefits driven by costs for contract cancellations, as discussed above.2014 to 2013 Annual Comparison.", + "Revenues increased $245 million, primarily driven by a $311 million increase in policy charges and fee income, asset management and service fees and other income, due to growth in average variable annuity account values.", + "Partially offsetting this increase was a $63 million decline in net investment income, driven by lower reinvestment rates and lower average account values in the general account due to surrenders of legacy general account products.", + "Benefits and expenses increased $863 million.", + "Absent the $825 million net increase related to the impacts of certain changes in our estimated profitability of the business discussed above, benefits and expenses increased $38 million.", + "General and administrative expenses, net of capitalization, increased $111 million, driven by higher asset-based commissions and asset management costs due to account value", + "The following table sets forth the income yield and investment income for each major investment category of our general account investments, excluding both the Closed Block division and the Japanese insurance operations\u2019 portion of the general account which is presented separately below, for the periods indicated.", + "The yields are based on net investment income as reported under U. S. GAAP and as such do not include certain interest related items, such as settlements of duration management swaps which are included in realized gains (losses).", + "||Year Ended December 31,|\n||2015|2014|2013|\n||Yield-1|Amount|Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|4.67%|$5,686|4.69%|$5,461|4.65%|$5,306|\n|Trading account assets supporting insurance liabilities|3.79|688|3.96|730|3.99|741|\n|Equity securities|6.07|197|6.49|191|7.30|174|\n|Commercial mortgage and other loans|4.62|1,338|4.96|1,271|5.27|1,145|\n|Policy loans|5.52|250|5.66|253|5.45|228|\n|Short-term investments and cash equivalents|0.25|38|0.21|22|0.23|26|\n|Other investments|6.17|356|10.03|598|7.54|383|\n|Gross investment income before investment expenses|4.33|8,553|4.63|8,526|4.52|8,003|\n|Investment expenses|-0.15|-239|-0.15|-209|-0.12|-152|\n|Investment income after investment expenses|4.18%|8,314|4.48%|8,317|4.40%|7,851|\n|Investment results of other entities and operations-2||114||124||113|\n|Total investment income||$8,428||$8,441||$7,964|\n", + "(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity.", + "Yields for fixed maturities are based on amortized cost.", + "Yields for equity securities are based on cost.", + "Yields for fixed maturities and short-term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity.", + "Yields exclude investment income on assets other than those included in invested assets.", + "Prior period yields are presented on a basis consistent with the current period presentation.", + "(2) Includes investment income of our asset management operations and derivative operations, as described below under \u201c\u2014Invested Assets of Other Entities and Operations.", + "\u201d The decrease in net investment income yield attributable to our general account investments, excluding both the Closed Block division and the Japanese operations\u2019 portfolio, for 2015, compared to 2014, was primarily the result of lower income from non-coupon investments and lower fixed income reinvestment rates.", + "The increase in net investment income yield attributable to our general account investments, excluding both the Closed Block division and the Japanese operations\u2019 portfolio, for 2014, compared to 2013, was primarily the result of higher income from non-coupon investments and from reinvestments within certain asset portfolios primarily into higher yielding securities, primarily during the second half of 2013.", + "The following table sets forth the income yield and investment income for each major investment category of our Japanese insurance operations\u2019 general account for the periods indicated.", + "The yields are based on net investment income as reported under U. S. GAAP and as such do not include certain interest related items, such as settlements of duration management swaps which are included in realized gains and losses.", + "||Year Ended December 31,|\n||2015|2014|2013|\n||Yield-1|Amount|Yield-1|Amount|Yield-1|Amount|\n||($ in millions)|\n|Fixed maturities|3.23%|$3,190|3.06%|$3,301|2.91%|$3,269|\n|Trading account assets supporting insurance liabilities|1.66|32|1.80|35|1.81|34|\n|Equity securities|4.77|69|5.06|84|4.69|82|\n|Commercial mortgage and other loans|4.45|390|4.20|294|4.21|258|\n|Policy loans|3.93|84|3.93|88|3.70|88|\n|Short-term investments and cash equivalents|0.32|5|0.24|4|0.19|4|\n|Other investments|5.32|133|6.67|155|6.12|170|\n|Gross investment income before investment expenses|3.35|3,903|3.18|3,961|3.02|3,905|\n|Investment expenses|-0.13|-155|-0.12|-153|-0.12|-156|\n|Total investment income|3.22%|$3,748|3.06%|$3,808|2.90%|$3,749|\n", + "(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity.", + "Yields for fixed maturities are based on amortized cost.", + "Yields for equity securities are based on cost.", + "Yields for fixed maturities and short-term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity.", + "Yields exclude investment income on assets other than those included in invested assets.", + "Prior period yields are presented on a basis consistent with the current period presentation.", + "The increase in net investment income yield on the Japanese insurance portfolio for 2015, compared to 2014, was primarily attributable to a higher allocation into U. S. dollar-denominated investments." + ], + "question_id": "simplong-test-383", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the average amount of Balance at December 31, 2012, and Net sales of Year Ended December 31, 2014 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table summarizes the changes in the Company\u2019s valuation allowance:", + "|Balance at January 1, 2010|$25,621|\n|Increases in current period tax positions|907|\n|Decreases in current period tax positions|-2,740|\n|Balance at December 31, 2010|$23,788|\n|Increases in current period tax positions|1,525|\n|Decreases in current period tax positions|-3,734|\n|Balance at December 31, 2011|$21,579|\n|Increases in current period tax positions|0|\n|Decreases in current period tax positions|-2,059|\n|Balance at December 31, 2012|$19,520|\n", + "Note 14: Employee Benefits Pension and Other Postretirement Benefits The Company maintains noncontributory defined benefit pension plans covering eligible employees of its regulated utility and shared services operations.", + "Benefits under the plans are based on the employee\u2019s years of service and compensation.", + "The pension plans have been closed for most employees hired on or after January 1, 2006.", + "Union employees hired on or after January 1, 2001 had their accrued benefit frozen and will be able to receive this benefit as a lump sum upon termination or retirement.", + "Union employees hired on or after January 1, 2001 and non-union employees hired on or after January 1, 2006 are provided with a 5.25% of base pay defined contribution plan.", + "The Company does not participate in a multiemployer plan.", + "The Company\u2019s funding policy is to contribute at least the greater of the minimum amount required by the Employee Retirement Income Security Act of 1974 or the normal cost, and an additional contribution if needed to avoid \u201cat risk\u201d status and benefit restrictions under the Pension Protection Act of 2006.", + "The Company may also increase its contributions, if appropriate, to its tax and cash position and the plan\u2019s funded position.", + "Pension plan assets are invested in a number of actively managed and indexed investments including equity and bond mutual funds, fixed income securities and guaranteed interest contracts with insurance companies.", + "Pension expense in excess of the amount contributed to the pension plans is deferred by certain regulated subsidiaries pending future recovery in rates charged for utility services as contributions are made to the plans.", + "(See Note 6) The Company also has several unfunded noncontributory supplemental non-qualified pension plans that provide additional retirement benefits to certain employees.", + "The Company maintains other postretirement benefit plans providing varying levels of medical and life insurance to eligible retirees.", + "The retiree welfare plans are closed for union employees hired on or after January 1, 2006.", + "The plans had previously closed for non-union employees hired on or after January 1, 2002.", + "The Company\u2019s policy is to fund other postretirement benefit costs for rate-making purposes.", + "Plan assets are invested in equity and bond mutual funds, fixed income securities, real estate investment trusts (\u201cREITs\u201d) and emerging market funds.", + "The obligations of the plans are dominated by obligations for active employees.", + "Because the timing of expected benefit payments is so far in the future and the size of the plan assets are small relative to the Company\u2019s assets, the investment strategy is to allocate a significant percentage of assets to equities, which the Company believes will provide the highest return over the long-term period.", + "The fixed income assets are invested in long duration debt securities and may be invested in fixed income instruments, such as futures and options in order to better match the duration of the plan liability.", + "The allocation of goodwill in accordance with SFAS No.142 for the years ended December 31, 2006 and 2005 was as follows:", + "| | Balance at Beginning of Period| Goodwill Acquired| Foreign Currency Translation and Other| Balance at End of Period|\n|Year Ended December 31, 2006|||||\n|Food Packaging|$540.4|$31.9|$14.9|$587.2|\n|Protective Packaging|1,368.4|0.4|1.1|1,369.9|\n|Total|$1,908.8|$32.3|$16.0|$1,957.1|\n|Year Ended December 31, 2005|||||\n|Food Packaging|$549.8|$0.7|$-10.1|$540.4|\n|Protective Packaging|1,368.2|0.8|-0.6|1,368.4|\n|Total|$1,918.0|$1.5|$-10.7|$1,908.8|\n", + "See Note 20, \u201cAcquisitions,\u201d for additional information on the goodwill acquired during 2006.", + "Note 4 Short Term Investments\u2014Available-for-Sale Securities At December 31, 2006 and 2005, the Company\u2019s available-for-sale securities consisted of auction rate securities for which interest or dividend rates are generally re-set for periods of up to 90 days.", + "At December 31, 2006, the Company held $33.9 million of auction rate securities which were investments in preferred stock with no maturity dates.", + "At December 31, 2005, the Company held $44.1 million of auction rate securities, of which $34.7 million were investments in preferred stock with no maturity dates and $9.4 million were investments in other auction rate securities with contractual maturities in 2031.", + "At December 31, 2006 and 2005, the fair value of the available-for-sale securities held by the Company was equal to their cost.", + "There were no gross realized gains or losses from the sale of available\u0002for-sale securities in 2006 and 2005.", + "Note 5 Accounts Receivable Securitization Program In December 2001, the Company and a group of its U. S. subsidiaries entered into an accounts receivable securitization program with a bank and an issuer of commercial paper administered by the bank.", + "On December 7, 2004, which was the scheduled expiration date of this program, the parties extended this program for an additional term of three years ending December 7, 2007.", + "Under this receivables program, the Company\u2019s two primary operating subsidiaries, Cryovac, Inc. and Sealed Air Corporation (US), sell all of their eligible U. S. accounts receivable to Sealed Air Funding Corporation, an indirectly wholly-owned subsidiary of the Company that was formed for the sole purpose of entering into the receivables program.", + "Sealed Air Funding in turn may sell undivided ownership interests in these receivables to the bank and the issuer of commercial paper, subject to specified conditions, up to a maximum of $125.0 million of receivables interests outstanding from time to time.", + "Sealed Air Funding retains the receivables it purchases from the operating subsidiaries, except those as to which it sells receivables interests to the bank or the issuer of commercial paper.", + "The Company has structured the sales of accounts receivable by the operating subsidiaries to Sealed Air Funding, and the sales of receivables interests from Sealed Air Funding to the bank and the issuer of commercial paper, as \u201ctrue sales\u201d under applicable laws.", + "The assets of Sealed Air Funding are not available to pay any creditors of the Company or of the Company\u2019s other subsidiaries or affiliates.", + "The Company accounts for these transactions as sales of receivables under the provisions of SFAS No.140, \u201cAccounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities.", + "\u201d", + "Product Care 2016 compared with 2015 As reported, net sales decreased $30 million, or 2%, in 2016 compared with 2015, of which $22 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $8 million, or 1%, in 2016 compared with 2015 primarily due to the following: ?", + "unfavorable price/mix of $29 million primarily in North America driven by targeted pricing incentives and an unfavorable product mix related to accelerated growth in e-Commerce and a shift in demand due to more innovative, resource-efficient solutions.", + "This was partially offset by: ?", + "higher unit volumes of $21 million, primarily in North America and EMEA due to ongoing strength in the e-Commerce and third party logistics markets, partially offset by rationalization and weakness in the industrial sector, as well as declines in Latin America due to the political and economic environment.2015 compared with 2014 As reported, net sales decreased $109 million, or 7%, in 2015 compared with 2014, of which $99 million was due to negative currency impact.", + "On a constant dollar basis, net sales decreased $10 million, or 1%, in 2015 compared with 2014 primarily due to the following: ?", + "lower unit volumes due to rationalization efforts in North America, Latin America and to a lesser extent, EMEA and weaknesses across the industrial sector.", + "This was partially offset by: ?", + "favorable price/mix in all regions, primarily in North America and Latin America reflecting results from our focus on maintaining pricing disciplines and an increase of sales from high-performance packaging solutions, including cushioning and packaging systems as compared to sales from general packaging solutions, and the progression of our pricing and value initiatives implemented to offset non-material inflationary costs as well as currency devaluation.", + "Cost of Sales Cost of sales for the years ended December 31, were as follows:", + "||Year Ended December 31,|2016 vs. 2015 % Change|2015 vs. 2014 % Change|\n|(In millions)|2016|2015|2014|\n|Net sales|$6,778.3|$7,031.5|$7,750.5|-3.6%|-9.3%|\n|Cost of sales|4,246.7|4,444.9|5,062.9|-4.5%|-12.2%|\n|As a % of net sales|62.7%|63.2%|65.3%|||\n|Gross Profit|$2,531.6|$2,586.6|$2,687.6|-2.1%|-3.8%|\n", + "2016 compared with 2015 As reported, costs of sales decreased $198 million in 2016 as compared to 2015.", + "Cost of sales was impacted by favorable foreign currency translation of $163 million.", + "On a constant dollar basis, cost of sales decreased $35 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $79 million, offset by an increase of $51 million in expenses representing higher non-material manufacturing and direct costs, including salary and wage inflation, partially offset by restructuring savings and lower incentive based compensation.2015 compared with 2014 As reported, costs of sales decreased $618 million in 2015 as compared to 2014.", + "Cost of sales was impacted by favorable foreign currency translation of $492 million.", + "On a constant dollar basis, cost of sales decreased $126 million primarily due to the divestiture of the North American foam trays and absorbent pads business and European food trays business of $140 million and favorable impact of $31 million related to cost savings, freight, and other supply chain costs.", + "These were partially offset by $47 million in expenses related to higher non-material manufacturing costs, including salary and wage inflation." + ], + "question_id": "simplong-test-384", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Incurred losses of At December 31, 2017, and Vested of Years Ended December 31, 2016 Shares ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Part II Item 5\u2014Market for Registrant\u2019s Common Equity and Related Stockholder Matters Market Information.", + "The common stock of the Company is currently traded on the New York Stock Exchange (NYSE) under the symbol \u2018\u2018AES.", + "\u2019\u2019 The following tables set forth the high and low sale prices for the common stock as reported by the NYSE for the periods indicated.", + "|2002|High|Low|2001|High|Low|\n|First Quarter|$17.84|$4.11|First Quarter|$60.15|$41.30|\n|Second Quarter|9.17|3.55|Second Quarter|52.25|39.95|\n|Third Quarter|4.61|1.56|Third Quarter|44.50|12.00|\n|Fourth Quarter|3.57|0.95|Fourth Quarter|17.80|11.60|\n", + "Holders.", + "As of March 3, 2003, there were 9,663 record holders of the Company\u2019s Common Stock, par value $0.01 per share.", + "Dividends.", + "Under the terms of the Company\u2019s senior secured credit facilities entered into with a commercial bank syndicate, the Company is not allowed to pay cash dividends.", + "In addition, the Company is precluded from paying cash dividends on its Common Stock under the terms of a guaranty to the utility customer in connection with the AES Thames project in the event certain net worth and liquidity tests of the Company are not met.", + "The ability of the Company\u2019s project subsidiaries to declare and pay cash dividends to the Company is subject to certain limitations in the project loans, governmental provisions and other agreements entered into by such project subsidiaries.", + "Securities Authorized for Issuance under Equity Compensation Plans.", + "See the information contained under the caption \u2018\u2018Securities Authorized for Issuance under Equity Compensation Plans\u2019\u2019 of the Proxy Statement for the Annual Meeting of Stockholders of the Registrant to be held on May 1, 2003, which information is incorporated herein by reference.", + "Key actuarial assumptions contain no explicit provisions for reserve uncertainty nor does the Company supplement the actuarially determined reserves for uncertainty.", + "Carried reserves at each reporting date are the Company\u2019s best estimate of ultimate unpaid losses and LAE at that date.", + "The Company completes detailed reserve studies for each exposure group annually for both reinsurance and insurance operations.", + "The completed annual reserve studies are \u201crolled-forward\u201d for each accounting period until the subsequent reserve study is completed.", + "Analyzing the roll-forward process involves comparing actual reported losses to expected losses based on the most recent reserve study.", + "The Company analyzes significant variances between actual and expected losses and post adjustments to its reserves as warranted.", + "The Company continues to receive claims under expired insurance and reinsurance contracts asserting injuries and/or damages relating to or resulting from environmental pollution and hazardous substances, including asbestos.", + "Environmental claims typically assert liability for (a) the mitigation or remediation of environmental contamination or (b) bodily injury or property damage caused by the release of hazardous substances into the land, air or water.", + "Asbestos claims typically assert liability for bodily injury from exposure to asbestos or for property damage resulting from asbestos or products containing asbestos.", + "The Company\u2019s reserves include an estimate of the Company\u2019s ultimate liability for A&E claims.", + "The Company\u2019s A&E liabilities emanate from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "All of the contracts of insurance and reinsurance, under which the Company has received claims during the past three years, expired more than 20 years ago.", + "There are significant uncertainties surrounding the Company\u2019s reserves for its A&E losses.", + "A&E exposures represent a separate exposure group for monitoring and evaluating reserve adequacy.", + "The following table summarizes incurred losses with respect to A&E reserves on both a gross and net of reinsurance basis for the periods indicated:", + "||At December 31,|\n|(Dollars in thousands)|2017|2016|2015|\n|Gross basis:||||\n|Beginning of period reserves|$441,111|$433,117|$476,205|\n|Incurred losses|90,009|73,336|40,000|\n|Paid losses|-82,126|-65,342|-83,088|\n|End of period reserves|$448,994|$441,111|$433,117|\n|Net basis:||||\n|Beginning of period reserves|$319,072|$319,620|$458,211|\n|Incurred losses|37,137|53,909|38,440|\n|Paid losses|-38,128|-54,457|-177,031|\n|End of period reserves|$318,081|$319,072|$319,620|\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley, a Delaware domiciled insurance company and wholly\u0002owned subsidiary of the Company to Clearwater Insurance Company, a Delaware domiciled insurance company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater Insurance Company.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which related entirely to A&E business and had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Everest Re Bermuda transferred cash of $140,279 thousand, an amount equal to the net loss reserves as of the closing date.", + "The maximum liability retroceded under the retrocession treaty will be $440,279 thousand, equal to the retrocession payment plus $300,000 thousand.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "The following table summarizes information about share options outstanding for the period indicated:", + "||At December 31, 2017|\n||Options Outstanding|Options Exercisable|\n|||Weighted-||||\n|||Average|Weighted-||Weighted-|\n||Number|Remaining|Average|Number|Average|\n|Range of|Outstanding|Contractual|Exercise|Exercisable|Exercise|\n|Exercise Prices|at 12/31/17|Life|Price|at 12/31/17|Price|\n|$71.7150 - $78.1700|79,760|1.1|$71.72|79,760|$71.72|\n|$78.1800 - $85.6300|61,900|2.1|84.63|61,900|84.63|\n|$85.6400 - $87.4700|88,590|3.1|86.62|88,590|86.62|\n|$87.4800 - $89.4100|110,060|4.1|88.32|110,060|88.32|\n|$89.4200 - $110.1300|20,054|1.1|97.41|20,054|97.41|\n||360,364|2.7|84.10|360,364|84.10|\n", + "The following table summarizes the status of the Company\u2019s non-vested shares and changes for the periods indicated:", + "||Years Ended December 31,|\n||2017|2016|2015|\n|||Weighted-||Weighted-||Weighted-|\n|||Average||Average||Average|\n|||Grant Date||Grant Date||Grant Date|\n|Restricted (non-vested) Shares|Shares|Fair Value|Shares|Fair Value|Shares|Fair Value|\n|Outstanding at January 1,|435,338|$164.21|435,336|$143.02|467,745|$120.84|\n|Granted|160,185|234.01|173,546|186.37|156,262|178.80|\n|Vested|152,397|151.80|145,834|130.54|154,387|113.12|\n|Forfeited|21,865|187.82|27,710|147.32|34,284|138.19|\n|Outstanding at December 31,|421,261|194.01|435,338|164.21|435,336|143.02|\n", + "As of December 31, 2017, there was $56,981 thousand of total unrecognized compensation cost related to non-vested share-based compensation expense.", + "That cost is expected to be recognized over a weighted\u0002average period of 3.1 years.", + "The total fair value of shares vested during the years ended December 31, 2017, 2016 and 2015, was $23,134 thousand, $19,037 thousand and $17,464 thousand, respectively.", + "The tax benefit realized from the shares vested for the year ended December 31, 2017 was $10,130 thousand.", + "In addition to the 2010 Employee Plan, the 2009 Director Plan and the 2003 Director Plan, Group issued 404 common shares in 2017, 547 common shares in 2016 and 426 common shares in 2015 to the Company\u2019s non-employee directors as compensation for their service as directors.", + "These issuances had aggregate values of approximately $94 thousand, $103 thousand and $75 thousand, respectively.", + "Since its 1995 initial public offering, the Company has issued to certain key employees of the Company 2,141,557 restricted common shares, of which 280,452 restricted shares have been cancelled.", + "The Company has issued to non-employee directors of the Company 145,817 restricted common shares, of which no restricted shares have been cancelled.", + "The Company acquired 60,453, 70,010 and 82,277 common shares at a cost of $14,240 thousand, $12,111 thousand and $14,666 thousand in 2017, 2016 and 2015, respectively, from employees and non-employee directors who chose to pay required withholding taxes and/or the exercise cost on option exercises or restricted share vestings by withholding shares.", + "The Company\u2019s loss reserving methodologies continuously monitor the emergence of loss and loss development trends, seeking, on a timely basis, to both adjust reserves for the impact of trend shifts and to factor the impact of such shifts into the Company\u2019s underwriting and pricing on a prospective basis.", + "Reserves for Asbestos and Environmental Losses and LAE.", + "At December 31, 2017, the Company\u2019s gross reserves for A&E claims represented 3.8% of its total reserves.", + "The Company\u2019s A&E liabilities stem from Mt.", + "McKinley\u2019s direct insurance business and Everest Re\u2019s assumed reinsurance business.", + "Liabilities related to Mt.", + "McKinley\u2019s direct business, which had been ceded to Bermuda Re previously, were retroceded to an affiliate of Clearwater Insurance Company in July 2015, concurrent with the sale of Mt.", + "McKinley to Clearwater Insurance Company.", + "There are significant uncertainties in estimating the amount of the Company\u2019s potential losses from A&E claims and ultimate values cannot be estimated using traditional reserving techniques.", + "See ITEM 7, \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations \u2013 Asbestos and Environmental Exposures\u201d and Item 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 3 of Notes to Consolidated Financial Statements.", + "The following table summarizes the composition of the Company\u2019s total reserves for A&E losses, gross and net of reinsurance, for the periods indicated:", + "||Years Ended December 31,|\n|(Dollars in millions)|2017|2016|2015|\n|Gross reserves|$449.0|$441.1|$433.1|\n|Reinsurance receivable|-130.9|-122.0|-113.5|\n|Net reserves|$318.1|$319.1|$319.6|\n|(Some amounts may not reconcile due to rounding.)||||\n", + "On July 13, 2015, the Company sold Mt.", + "McKinley to Clearwater Insurance Company.", + "Concurrently with the closing, the Company entered into a retrocession treaty with an affiliate of Clearwater.", + "Per the retrocession treaty, the Company retroceded 100% of the liabilities associated with certain Mt.", + "McKinley policies, which had been reinsured by Bermuda Re.", + "As consideration for entering into the retrocession treaty, Bermuda Re transferred cash of $140.3 million, an amount equal to the net loss reserves as of the closing date.", + "Of the $140.3 million of net loss reserves retroceded, $100.5 million were related to A&E business.", + "The maximum liability retroceded under the retrocession treaty will be $440.3 million, equal to the retrocession payment plus $300.0 million.", + "The Company will retain liability for any amounts exceeding the maximum liability retroceded under the retrocession treaty.", + "In 2017, during its normal exposure analysis, the Company increased its net A&E reserves by $37.1 million, all of which related to its assumed reinsurance business.", + "Additional losses, including those relating to latent injuries and other exposures, which are as yet unrecognized, the type or magnitude of which cannot be foreseen by either the Company or the industry, may emerge in the future.", + "Such future emergence could have material adverse effects on the Company\u2019s future financial condition, results of operations and cash flows.", + "Future Policy Benefit Reserves.", + "The Company wrote a limited amount of life and annuity reinsurance in its Bermuda segment.", + "Future policy benefit liabilities for annuities are reported at the accumulated fund balance of these contracts.", + "Reserves for those liabilities include mortality provisions with respect to life and annuity claims, both reported and unreported.", + "Actual experience in a particular period may be worse than assumed experience and, consequently, may adversely affect the Company\u2019s operating results for that period.", + "See ITEM 8, \u201cFinancial Statements and Supplementary Data\u201d - Note 1F of Notes to Consolidated Financial Statements." + ], + "question_id": "simplong-test-385", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the level with largest amount of U.S. Treasuries of Fixed Income Securities, what's the sum of Fixed Income Securities?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations assumed and actual policyholder behavior and between the performance of the actively managed funds underlying the separate accounts and their respective indices.", + "While the Company actively manages this dynamic hedging program, increased U. S. GAAP earnings volatility may result from factors including, but not limited to: policyholder behavior, capital markets, divergence between the performance of the underlying funds and the hedging indices, changes in hedging positions and the relative emphasis placed on various risk management objectives.", + "Macro Hedge Program The Company\u2019s macro hedging program uses derivative instruments, such as options and futures on equities and interest rates, to provide protection against the statutory tail scenario risk arising from GMWB and GMDB liabilities on the Company\u2019s statutory surplus.", + "These macro hedges cover some of the residual risks not otherwise covered by the dynamic hedging program.", + "Management assesses this residual risk under various scenarios in designing and executing the macro hedge program.", + "The macro hedge program will result in additional U. S. GAAP earnings volatility as changes in the value of the macro hedge derivatives, which are designed to reduce statutory reserve and capital volatility, may not be closely aligned to changes in GAAP liabilities.", + "Variable Annuity Hedging Program Sensitivities The underlying guaranteed withdrawal benefit liabilities (excluding the life contingent portion of GMWB contracts) and hedge assets within the GMWB hedge and Macro hedge programs are carried at fair value.", + "The following table presents our estimates of the potential instantaneous impacts from sudden market stresses related to equity market prices, interest rates, and implied market volatilities.", + "The following sensitivities represent: (1) the net estimated difference between the change in the fair value of GMWB liabilities and the underlying hedge instruments and (2) the estimated change in fair value of the hedge instruments for the macro program, before the impacts of amortization of DAC and taxes.", + "As noted in the preceding discussion, certain hedge assets are used to hedge liabilities that are not carried at fair value and will not have a liability offset in the U. S. GAAP sensitivity analysis.", + "All sensitivities are measured as of December 31, 2016 and are related to the fair value of liabilities and hedge instruments in place at that date for the Company\u2019s variable annuity hedge programs.", + "The impacts presented in the table that follows are estimated individually and measured without consideration of any correlation among market risk factors.", + "||GMWB|Macro|\n|Equity Market Return|-20%|-10%|10%|-20%|-10%|10%|\n|Potential Net Fair Value Impact|$-3|$1|$-5|$265|$112|$-80|\n|Interest Rates|-50bps|-25bps|+25bps|-50bps|-25bps|+25bps|\n|Potential Net Fair Value Impact|$-3|$-1|$-1|$6|$3|$-2|\n|Implied Volatilities|10%|2%|-10%|10%|2%|-10%|\n|Potential Net Fair Value Impact|$-69|$-14|$67|$136|$27|$-125|\n", + "[1]\tThese sensitivities are based on the following key market levels as of December 31, 2016: 1) S&P of 2,239; 2) 10yr US swap rate of 2.38%; and 3) S&P 10yr volatility of 27.06%.", + "The preceding sensitivity analysis is an estimate and should not be used to predict the future financial performance of the Company\u2019s variable annuity hedge programs.", + "The actual net changes in the fair value liability and the hedging assets illustrated in the preceding table may vary materially depending on a variety of factors which include but are not limited to: ?", + "The sensitivity analysis is only valid as of the measurement date and assumes instantaneous changes in the capital market factors and no ability to rebalance hedge positions prior to the market changes; ?", + "Changes to the underlying hedging program, policyholder behavior, and variation in underlying fund performance relative to the hedged index, which could materially impact the liability; and ?", + "The impact of elapsed time on liabilities or hedge assets, any non-parallel shifts in capital market factors, or correlated moves across the sensitivities.", + "Foreign Currency Exchange Risk Foreign currency exchange risk is the risk of financial loss due to changes in the relative value between currencies.", + "Sources of currency risk The Company has foreign currency exchange risk in non-U.", + "S. dollar denominated investments, which primarily consist of fixed maturity and equity investments, foreign denominated cash, a yen denominated fixed payout annuity and changes in equity of a P&C run-off entity in the United Kingdom.", + "In addition, the Company\u2019s Talcott Resolution segment formerly issued non-U.", + "S. dollar denominated funding agreement liability contracts.", + "Impact Changes in relative values between currencies can create variability in cash flows and realized or unrealized gains and losses on changes in the fair value of assets and liabilities.", + "Based on the fair values of the Company\u2019s non-U.", + "S. dollar denominated securities and derivative instruments as of December 31, 2016 and 2015, management estimates that a hypothetical 10% unfavorable change in exchange rates would decrease the fair values by a before-tax total of $11 and $48, respectively, and as of December 31, 2016 excludes the impact of the assets that transferred to held for sale related to the U. K. property and casualty run-off subsidiaries .", + "Actual results could differ materially due to the nature of the estimates and assumptions used in the analysis.", + "CAPITAL RESOURCES AND LIQUIDITY 100 www.", + "thehartford.", + "com Off-balance Sheet Arrangements and Aggregate Contractual Obligations The Company does not have any off-balance sheet arrangements that are reasonably likely to have a material effect on the financial condition, results of operations, liquidity, or capital resources of the Company, except for the contingent capital facility described above, as well as unfunded commitments to purchase investments in limited partnerships and other alternative investments, private placements, and mortgage loans as disclosed in Note 14 - Commitments and Contingencies of Notes to Consolidated Financial Statements.", + "||Payments due by period|\n||Total|Less than1 year|1-3years|3-5years|More than5 years|\n|Property and casualty obligations [1]|$22,316|$5,071|$5,294|$2,579|$9,372|\n|Life, annuity and disability obligations [2]|249,730|17,318|30,398|24,466|177,548|\n|Operating lease obligations [3]|163|42|63|30|28|\n|Long-term debt obligations [4]|10,501|726|1,270|942|7,563|\n|Purchase obligations [5]|3,188|2,379|576|208|25|\n|Other liabilities reflected on the balance sheet [6]|1,687|1,297|389|1|\u2014|\n|Total|$287,585|$26,833|$37,990|$28,226|$194,536|\n", + "[1]\tThe following points are significant to understanding the cash flows estimated for obligations (gross of reinsurance) under property and casualty contracts: ?", + "Reserves for Property & Casualty unpaid losses and loss adjustment expenses include IBNR and case reserves.", + "While payments due on claim reserves are considered contractual obligations because they relate to insurance policies issued by the Company, the ultimate amount to be paid to settle both case reserves and IBNR is an estimate, subject to significant uncertainty.", + "The actual amount to be paid is not finally determined until the Company reaches a settlement with the claimant.", + "Final claim settlements may vary significantly from the present estimates, particularly since many claims will not be settled until well into the future. ?", + "In estimating the timing of future payments by year, the Company has assumed that its historical payment patterns will continue.", + "However, the actual timing of future payments could vary materially from these estimates due to, among other things, changes in claim reporting and payment patterns and large unanticipated settlements.", + "In particular, there is significant uncertainty over the claim payment patterns of asbestos and environmental claims.", + "In addition, the table does not include future cash flows related to the receipt of premiums that may be used, in part, to fund loss payments. ?", + "Under U. S. GAAP, the Company is only permitted to discount reserves for losses and loss adjustment expenses in cases where the payment pattern and ultimate loss costs are fixed and determinable on an individual claim basis.", + "For the Company, these include claim settlements with permanently disabled claimants.", + "As of December 31, 2016, the total property and casualty reserves in the above table are gross of a reserve discount of $483.", + "[2]\tEstimated life, annuity and disability obligations (gross of reinsurance) include death and disability claims, policy surrenders, policyholder dividends and trail commissions offset by expected future deposits and premiums on in-force contracts.", + "Estimated life, annuity and disability obligations are based on mortality, morbidity and lapse assumptions comparable with the Company\u2019s historical experience, modified for recent observed trends.", + "The Company has also assumed market growth and interest crediting consistent with other assumptions.", + "In contrast to this table, the majority of the Company\u2019s obligations are recorded on the balance sheet at the current account values and do not incorporate an expectation of future market growth, interest crediting, or future deposits.", + "Therefore, the estimated obligations presented in this table significantly exceed the liabilities recorded in reserve for future policy benefits and unpaid losses and loss adjustment expenses, other policyholder funds and benefits payable, and separate account liabilities.", + "Due to the significance of the assumptions used, the amounts presented could materially differ from actual results.", + "[3]\tIncludes future minimum lease payments on operating lease agreements.", + "See Note 14 - Commitments and Contingencies of Notes to Consolidated Financial Statements for additional discussion on lease commitments.", + "[4]\tIncludes contractual principal and interest payments.", + "See Note 13 - Debt of Notes to Consolidated Financial Statements for additional discussion of long-term debt obligations.", + "[5]\tIncludes $1.6 billion in commitments to purchase investments including approximately $1.2 billion of limited partnership and other alternative investments, $313 of private placements, and $95 of mortgage loans.", + "Outstanding commitments under these limited partnerships and mortgage loans are included in payments due in less than 1 year since the timing of funding these commitments cannot be reliably estimated.", + "The remaining commitments to purchase investments primarily represent payables for securities purchased which are reflected on the Company\u2019s Consolidated Balance Sheets.", + "Also included in purchase obligations is $962 relating to contractual commitments to purchase various goods and services such as maintenance, human resources, and information technology in the normal course of business.", + "Purchase obligations exclude contracts that are cancelable without penalty or contracts that do not specify minimum levels of goods or services to be purchased.", + "[6]\tIncludes cash collateral of $387 which the Company has accepted in connection with the Company\u2019s derivative instruments.", + "Since the timing of the return of the collateral is uncertain, the return of the collateral has been included in the payments due in less than 1 year.", + "Also included in other long-term liabilities are net unrecognized tax benefits of $12, retained yen denominated fixed payout annuity liabilities of $540, and consumer notes of $21.", + "Consumer notes include principal payments and contractual interest for fixed rate notes and interest based on current rates for floating rate notes.", + "THE HARTFORD FINANCIAL SERVICES GROUP, INC. Notes to Consolidated Financial Statements (continued) 18.", + "Employee Benefit Plans (CONTINUED) Pension Plan Assets at Fair Value as of December 31, 2015", + "|Assets|Corporate|RMBS|Foreign government|Mortgage loans|Other [1]|Totals|\n|Fair Value as of January 1, 2016|$19|$24|$5|$54|$5|$107|\n|Realized gains (losses), net|\u2014|\u2014|\u2014|\u2014|1|1|\n|Changes in unrealized gains (losses), net|\u2014|\u2014|\u2014|-3|\u2014|-3|\n|Purchases|15|\u2014|\u2014|70|24|109|\n|Settlements|\u2014|-14|\u2014|\u2014|-1|-15|\n|Sales|-10|\u2014|-4|\u2014|-9|-23|\n|Transfers into Level 3|\u2014|2|\u2014|\u2014|3|5|\n|Transfers out of Level 3|-11|-2|\u2014|\u2014|-1|-14|\n|Fair Value as of December 31, 2016|$13|$10|$1|$121|$22|$167|\n", + "[1] Includes ABS,municipal bonds, and CDOs.", + "[2] Excludes approximately $67 of investment payables net of investment receivables that are excluded from this disclosure requirement because they are trade receivables in the ordinary course of business where the carrying amount approximates fair value.", + "Also excludes approximately $27 of interest receivable.", + "[3] Represents investments that calculate net asset value per share or an equivalent measurement.", + "The tables below provide fair value level 3 roll-forwards for the Pension Plan Assets for which significant unobservable inputs (Level 3) are used in the fair value measurement on a recurring basis.", + "The Plan classifies the fair value of financial instruments within Level 3 if there are no observable markets for the instruments or, in the absence of active markets, if one or more of the significant inputs used to determine fair value are based on the Plan\u2019s own assumptions.", + "Therefore, the gains and losses in the tables below include changes in fair value due to both observable and unobservable factors.2016 Pension Plan Asset Fair Value Measurements Using Significant Unobservable Inputs (Level 3)", + "|Asset Category|Level 1|Level 2|Level 3|Total|\n|Short-term investments:|$7|$274|$\u2014|$281|\n|Fixed Income Securities:|||||\n|Corporate|\u2014|922|19|941|\n|RMBS|\u2014|242|24|266|\n|U.S. Treasuries|16|1,029|3|1,048|\n|Foreign government|\u2014|49|5|54|\n|CMBS|\u2014|183|\u2014|183|\n|Other fixed income [1]|\u2014|105|1|106|\n|Mortgage Loans|\u2014|\u2014|54|54|\n|Equity Securities:|||||\n|Large-cap domestic|500|11|1|512|\n|International|298|87|\u2014|385|\n|Total pension plan assets at fair value [2]|$821|$2,902|$107|$3,830|\n|Other Investments [3]:|||||\n|Private Market Alternatives|$\u2014|$\u2014|$\u2014|$20|\n|Hedge funds|$\u2014|$\u2014|$\u2014|$620|\n|Total pension plan assets|$821|$2,902|$107|$4,470|\n", + "[1] \u201cOther\u201d includes U. S. Treasuries, Other fixed income and Large-cap domestic equities investments.", + "During the year ended December 31, 2016, transfers into and (out) of Level 3 are primarily attributable to the appearance of or lack thereof of market observable information and the re-evaluation of the observability of pricing inputs.", + "Other expense, net, decreased $6.2 million, or 50.0%, for the year ended December 31, 2004 compared to the year ended December 31, 2003.", + "The decrease was primarily due to a reductionin charges on disposal and transfer costs of fixed assets and facility closure costs of $3.3 million, reduced legal charges of $1.5 million, and a reduction in expenses of $1.4 million consisting of individually insignificant items.", + "Interest Expense and Income Taxes Interest expense decreased in2004by $92.2 million, or 75.7%, from 2003.", + "This decrease included $73.3 millionof expenses related to the Company\u2019s debt refinancing, which was completed in July 2003.", + "The$73.3 million of expenses consisted of$55.9 millionpaid in premiums for the tender of the95?8% senior subordinated notes, and a $17.4 million non-cashcharge for the write-off of deferred financing fees related to the 95?8% notes and PCA\u2019s original revolving credit facility.", + "Excluding the $73.3 million charge, interest expense was $18.9 million lower thanin 2003 as a result of lower interest rates attributable to the Company\u2019s July 2003 refinancing and lower debt levels.", + "PCA\u2019s effective tax rate was 38.0% for the year ended December 31, 2004 and 42.3% for the year ended December 31, 2003.", + "The higher tax rate in 2003 is due to stable permanent items over lower book income (loss).", + "For both years 2004 and 2003 tax rates are higher than the federal statutory rate of 35.0% due to state income taxes.", + "YearEnded December31, 2003 Compared to Year Ended December31, 2002The historical results of operations of PCA for the years ended December 31, 2003 and 2002 are set forth below:" + ], + "question_id": "simplong-test-386", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the revenues in the years where Net investment gains (losses) is positive? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Note 2 \u2013 Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):", + "||2018|2017|2016|\n|Weighted average common shares outstanding for basic computations|284.5|287.8|299.3|\n|Weighted average dilutive effect of equity awards|2.3|2.8|3.8|\n|Weighted average common shares outstanding for diluted computations|286.8|290.6|303.1|\n", + "We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented.", + "Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units (RSUs), performance stock units (PSUs) and exercise of outstanding stock options based on the treasury stock method.", + "There were no significant anti-dilutive equity awards for the years ended December 31, 2018, 2017 and 2016.", + "Note 3 \u2013 Acquisition and Divestitures Consolidation of AWE Management Limited On August 24, 2016, we increased our ownership interest in the AWE joint venture, which operates the United Kingdom\u2019s nuclear deterrent program, from 33% to 51%.", + "Consequently, we began consolidating AWE and our operating results include 100% of AWE\u2019s sales and 51% of its operating profit.", + "Prior to increasing our ownership interest, we accounted for our investment in AWE using the equity method of accounting.", + "Under the equity method, we recognized only 33% of AWE\u2019s earnings or losses and no sales.", + "Accordingly, prior to August 24, 2016, the date we obtained control, we recorded 33% of AWE\u2019s net earnings in our operating results and subsequent to August 24, 2016, we recognized 100% of AWE\u2019s sales and 51% of its operating profit.", + "We accounted for this transaction as a \u201cstep acquisition\u201d (as defined by U. S. GAAP), which requires us to consolidate and record the assets and liabilities of AWE at fair value.", + "Accordingly, we recorded intangible assets of $243 million related to customer relationships, $32 million of net liabilities, and noncontrolling interests of $107 million.", + "The intangible assets are being amortized over a period of eight years in accordance with the underlying pattern of economic benefit reflected by the future net cash flows.", + "In 2016, we recognized a non-cash net gain of $104 million associated with obtaining a controlling interest in AWE, which consisted of a $127 million pretax gain recognized in the operating results of our Space business segment and $23 million of tax-related items at our corporate office.", + "The gain represented the fair value of our 51% interest in AWE, less the carrying value of our previously held investment in AWE and deferred taxes.", + "The gain was recorded in other income, net on our consolidated statements of earnings.", + "The fair value of AWE (including the intangible assets), our controlling interest, and the noncontrolling interests were determined using the income approach.", + "Divestiture of the Information Systems & Global Solutions Business On August 16, 2016, we divested our former IS&GS business, which merged with Leidos, in a Reverse Morris Trust transaction (the \u201cTransaction\u201d).", + "The Transaction was completed in a multi-step process pursuant to which we initially contributed the IS&GS business to Abacus Innovations Corporation (Abacus), a wholly owned subsidiary of Lockheed Martin created to facilitate the Transaction, and the common stock of Abacus was distributed to participating Lockheed Martin stockholders through an exchange offer.", + "Under the terms of the exchange offer, Lockheed Martin stockholders had the option to exchange shares of Lockheed Martin common stock for shares of Abacus common stock.", + "At the conclusion of the exchange offer, all shares of Abacus common stock were exchanged for 9,369,694 shares of Lockheed Martin common stock held by Lockheed Martin stockholders that elected to participate in the exchange.", + "The shares of Lockheed Martin common stock that were exchanged and accepted were retired, reducing the number of shares of our common stock outstanding by approximately 3%.", + "Following the exchange offer, Abacus merged with a subsidiary of Leidos, with Abacus continuing as the surviving corporation and a wholly-owned subsidiary of Leidos.", + "As part of the merger, each share of Abacus common stock was automatically converted into one share of Leidos common stock.", + "We did not receive any shares of Leidos common stock as part of the Transaction and do not hold any shares of Leidos or Abacus common stock following the Transaction.", + "Based on an opinion of outside tax counsel, subject to customary qualifications and based on factual representations, the exchange offer and merger will qualify as tax-free transactions to Lockheed Martin and its stockholders, except to the extent that cash was paid to Lockheed Martin stockholders in lieu of fractional shares.", + "In connection with the Transaction, Abacus borrowed an aggregate principal amount of approximately $1.84 billion under term loan facilities with third party financial institutions, the proceeds of which were used to make a one-time special cash payment of $1.80 billion to Lockheed Martin and to pay associated borrowing fees and expenses.", + "The entire special cash payment was used to repay debt, pay dividends and repurchase stock during the third and fourth quarters of 2016.", + "The obligations under the Abacus term loan facilities were guaranteed by Leidos as part of the Transaction.", + "In response to the economic crisis and unusual financial market events that occurred in 2008 and continued into 2009, we decided to utilize excess debt capacity.", + "The Holding Company completed three debt issuances in 2009.", + "The Holding Company issued $397 million of floating rate senior notes in March 2009, $1.3 billion of senior notes in May 2009, and $500 million of junior subordinated debt securities in July 2009.", + "In February 2009, in connection with the initial settlement of the stock purchase contracts issued as part of the common equity units sold in June 2005, the Holding Company issued common stock for $1.0 billion.", + "The proceeds from these equity and debt issuances were used for general corporate purposes and have resulted in increased investments and cash and cash equivalents held within Banking, Corporate & Other.", + "Operating earnings available to common shareholders improved by $114 million, of which $254 million was due to MetLife Bank and its acquisitions of a residential mortgage origination and servicing business and a reverse mortgage business, both during 2008.", + "Excluding the impact of MetLife Bank, our operating earnings available to common shareholders decreased $140 million, primarily due to lower net investment income, partially offset by the impact of a lower effective tax rate.", + "The lower effective tax rate provided an increased benefit of $139 million from the prior year.", + "This benefit was the result of a partial settlement of certain prior year tax audit issues and increased utilization of tax preferenced investments, which provide tax credits and deductions.", + "Excluding a $68 million increase from MetLife Bank, net investment income decreased $283 million, which was primarily due a decrease of $287 million due to lower yields, partially offset by an increase of $4 million due to an increase in average invested assets.", + "Consistent with the consolidated results of operations discussion above, yields were adversely impacted by the severe downturn in the global financial markets, which primarily impacted fixed maturity securities and real estate joint ventures.", + "The increased average invested asset base was due to cash flows from debt issuances during 2009.", + "Our investments primarily include structured finance securities, investment grade corporate fixed maturity securities, U. S. Treasury, agency and government guaranteed fixed maturity securities and mortgage loans.", + "In addition, our investment portfolio includes the excess capital not allocated to the segments.", + "Accordingly, it includes a higher allocation to certain other invested asset classes to provide additional diversification and opportunity for long-term yield enhancement including leveraged leases, other limited partnership interests, real estate, real estate joint ventures and equity securities.", + "After excluding the impact of a $394 million increase from MetLife Bank, other expenses increased by $20 million.", + "Deferred compensation costs, which are tied to equity market performance, were higher due to a significant market rebound.", + "We also had an increase in costs associated with the implementation of our Operational Excellence initiative.", + "These increases were partially offset by lower postemployment related costs and corporate-related expenses, specifically legal costs.", + "Legal costs were lower largely due to the prior year commutation of asbestos policies.", + "In addition, interest expense declined slightly as a result of rate reductions on variable rate collateral financing arrange\u0002ments offset by debt issuances in 2009 and 2008.", + "Consolidated Results of Operations Year Ended December 31, 2008 compared with the Year Ended December 31, 2007", + "||Years Ended December 31,|||\n||2008|2007|Change|% Change|\n||(In millions)||\n| Revenues|||||\n|Premiums|$25,914|$22,970|$2,944|12.8%|\n|Universal life and investment-type product policy fees|5,381|5,238|143|2.7%|\n|Net investment income|16,291|18,057|-1,766|-9.8%|\n|Other revenues|1,586|1,465|121|8.3%|\n|Net investment gains (losses)|1,812|-578|2,390|413.5%|\n|Total revenues|50,984|47,152|3,832|8.1%|\n| Expenses|||||\n|Policyholder benefits and claims and policyholder dividends|29,188|25,506|3,682|14.4%|\n|Interest credited to policyholder account balances|4,788|5,461|-673|-12.3%|\n|Interest credited to bank deposits|166|200|-34|-17.0%|\n|Capitalization of DAC|-3,092|-3,064|-28|-0.9%|\n|Amortization of DAC and VOBA|3,489|2,250|1,239|55.1%|\n|Interest expense|1,051|897|154|17.2%|\n|Other expenses|10,333|10,122|211|2.1%|\n|Total expenses|45,923|41,372|4,551|11.0%|\n|Income before provision for income tax|5,061|5,780|-719|-12.4%|\n|Provision for income tax expense (benefit)|1,580|1,675|-95|-5.7%|\n|Income (loss) from continuing operations, net of income tax|3,481|4,105|-624|-15.2%|\n|Income (loss) from discontinued operations, net of income tax|-203|360|-563|-156.4%|\n|Net income (loss)|3,278|4,465|-1,187|-26.6%|\n|Less: Net income (loss) attributable to noncontrolling interests|69|148|-79|-53.4%|\n|Net income (loss) attributable to MetLife, Inc.|3,209|4,317|-1,108|-25.7%|\n|Less: Preferred stock dividends|125|137|-12|-8.8%|\n|Net income (loss) available to MetLife, Inc.\u2019s common shareholders|$3,084|$4,180|$-1,096|-26.2%|\n", + "policy issuance expenses and certain advertising costs.", + "VOBA represents the excess of book value over the estimated fair value of acquired insurance, annuity, and investment-type contracts in-force at the acquisition date.", + "For certain acquired blocks of business, the estimated fair value of the in-force contract obligations exceeded the book value of assumed in-force insurance policy liabilities, resulting in negative VOBA, which is presented separately from VOBA as an additional insurance liability included in other policy-related balances.", + "The estimated fair value of the acquired liabilities is based on actuarially determined projections, by each block of business, of future policy and contract charges, premiums, mortality and morbidity, separate account performance, surrenders, operating expenses, investment returns, nonperformance risk adjustment and other factors.", + "Actual experience on the purchased business may vary from these projections.", + "The recovery of DAC and VOBA is dependent upon the future profitability of the related business.", + "The Company will adopt new guidance regarding the accounting for DAC beginning in the first quarter of 2012 and will apply it retrospectively to all prior periods presented in its consolidated financial statements for all insurance contracts.", + "See Note 1 of the Notes to the Consolidated Financial Statements.", + "Separate account rates of return on variable universal life contracts and variable deferred annuity contracts affect in-force account balances on such contracts each reporting period which can result in significant fluctuations in amortization of DAC and VOBA.", + "The Company\u2019s practice to determine the impact of gross profits resulting from returns on separate accounts assumes that long-term appreciation in equity markets is not changed by short-term market fluctuations, but is only changed when sustained interim deviations are expected.", + "The Company monitors these events and only changes the assumption when its long-term expectation changes.", + "The effect of an increase/(decrease) by 100 basis points in the assumed future rate of return is reasonably likely to result in a decrease/(increase) in the DAC and VOBA amortization of approximately $161 million with an offset to the Company\u2019s unearned revenue liability of approximately $26 million for this factor.", + "The Company also periodically reviews other long-term assumptions underlying the projections of estimated gross margins and profits.", + "These include investment returns, policyholder dividend scales, interest crediting rates, mortality, persistency, and expenses to administer business.", + "Assumptions used in the calculation of estimated gross margins and profits which may have significantly changed are updated annually.", + "If the update of assumptions causes expected future gross margins and profits to increase, DAC and VOBA amortization will decrease, resulting in a current period increase to earnings.", + "The opposite result occurs when the assumption update causes expected future gross margins and profits to decrease.", + "The Company\u2019s most significant assumption updates resulting in a change to expected future gross margins and profits and the amortization of DAC and VOBA are due to revisions to expected future investment returns, expenses, in-force or persistency assumptions and policyholder dividends on participating traditional life contracts, variable and universal life contracts and annuity contracts.", + "The Company expects these assumptions to be the ones most reasonably likely to cause significant changes in the future.", + "Changes in these assumptions can be offsetting and the Company is unable to predict their movement or offsetting impact over time.", + "At December 31, 2011, 2010 and 2009, DAC and VOBA for the Company was $28.0 billion, $27.1 billion and $19.1 billion, respectively.", + "Amortization of DAC and VOBA associated with the variable and universal life and the annuity contracts was significantly impacted by movements in equity markets.", + "The following chart illustrates the effect on DAC and VOBA of changing each of the respective assumptions, as well as updating estimated gross margins or profits with actual gross margins or profits during the years ended December 31, 2011, 2010 and 2009.", + "Increases (decreases) in DAC and VOBA balances, as presented below, resulted in a corresponding decrease (increase) in amortization.", + "||Years Ended December 31,|\n||2011|2010|2009|\n||(In millions)|\n|Investment return|$-64|$-84|$22|\n|Separate account balances|-145|23|-85|\n|Net investment gain (loss)|-576|-124|712|\n|Guaranteed Minimum Income Benefits|-15|84|187|\n|Expense|-7|96|61|\n|In-force/Persistency|-2|9|-118|\n|Policyholder dividends and other|60|-203|154|\n|Total|$-749|$-199|$933|\n", + "The following represents significant items contributing to the changes to DAC and VOBA amortization in 2011: \u2030 The decrease in equity markets during the year lowered separate account balances which led to a reduction in actual and expected future gross profits on variable universal life contracts and variable deferred annuity contracts resulting in an increase of $145 million in DAC and VOBA amortization.", + "\u2030 Changes in net investment gains (losses) resulted in the following changes in DAC and VOBA amortization: \u2013 Actual gross profits decreased as a result of an increase in liabilities associated with guarantee obligations on variable annuities, resulting in a decrease of DAC and VOBA amortization of $531 million, excluding the impact from the Company\u2019s nonperformance risk and risk margins, which are described below.", + "This decrease in actual gross profits was more than offset by freestanding derivative gains associated with the hedging of such guarantee obligations, which resulted in an increase in DAC and VOBA amortization of $847 million.", + "\u2013 The widening of the Company\u2019s nonperformance risk adjustment decreased the valuation of guarantee liabilities, increased actual gross profits and increased DAC and VOBA amortization by $260 million.", + "This was partially offset by higher risk margins which increased the guarantee liability valuations, decreased actual gross profits and decreased DAC and VOBA amortization by $72 million.", + "\u2013 The remainder of the impact of net investment gains (losses), which increased DAC amortization by $72 million, was primarily attributable to current period investment activities.", + "The following represents significant items contributing to the changes to DAC and VOBA amortization in 2010: \u2030 Changes in net investment gains (losses) resulted in the following changes in DAC and VOBA amortization: \u2013 Actual gross profits increased as a result of a decrease in liabilities associated with guarantee obligations on variable annuities, resulting in an increase of DAC and VOBA amortization of $197 million, excluding the impact from the Company\u2019s nonperformance risk and risk margins, which are described below.", + "This increase in actual gross profits was partially offset by freestanding derivative losses associated with the hedging of such guarantee obligations, which resulted in a decrease in DAC and VOBA amortization of $88 million.", + "MetLife, Inc. Notes to the Consolidated Financial Statements \u2014 (Continued) The weighted average expected rate of return on plan assets for use in that plan\u2019s valuation in 2012 is currently anticipated to be 7.00% for U. S. pension benefits and 6.22% for U. S. other postretirement benefits.", + "The weighted average expected rate of return on plan assets for use in that plan\u2019s valuation in 2012 is currently anticipated to be 2.05% for non-U.", + "S. pension benefits and 6.54% for non-U.", + "S. other postretirement benefits.", + "The assumed healthcare costs trend rates used in measuring the APBO and net periodic benefit costs were as follows:", + "|| December 31,|\n|| 2011| 2010|\n|Pre-and Post-Medicare eligible claims|7.3% in 2012, gradually decreasing each year until 2083 reaching the ultimate rate of 4.3%.|7.8% in 2011, gradually decreasing each year until 2083 reaching the ultimate rate of 4.4%.|\n", + "Assumed healthcare costs trend rates may have a significant effect on the amounts reported for healthcare plans.", + "A 1% change in assumed healthcare costs trend rates would have the following effects:" + ], + "question_id": "simplong-test-387", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What's the difference of Securities America, Inc.-3(4) between 2010 and 2009 forActual Capital? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "nonperformance credit spread moves to a zero spread over the LIBOR swap curve, the reduction to net income would be approximately $71 million, net of DAC and DSIC amortization and income taxes, based on December 31, 2010 credit spreads.", + "Liquidity and Capital Resources Overview We maintained substantial liquidity during the year ended December 31, 2010.", + "At December 31, 2010, we had $2.9 billion in cash and cash equivalents compared to $3.1 billion at December 31, 2009.", + "We have additional liquidity available through an unsecured revolving credit facility for up to $500 million that we entered into on September 30, 2010 and which expires in September 2011.", + "Under the terms of the underlying credit agreement, we can increase this facility to $750 million upon satisfaction of certain approval requirements.", + "Available borrowings under this facility are reduced by any outstanding letters of credit.", + "We have had no borrowings under this credit facility and had $1 million of outstanding letters of credit at December 31, 2010.", + "In March 2010, we issued $750 million of 5.30% senior notes due 2020.", + "A portion of the proceeds was used to retire $340 million of debt that matured in November 2010.", + "On April 30, 2010, we closed on the Columbia Management Acquisition and paid $866 million in the second quarter with cash on hand and assumed liabilities of $30 million.", + "Our subsidiaries, Ameriprise Bank, FSB and RiverSource Life, are members of the Federal Home Loan Bank (\u2018\u2018FHLB\u2019\u2019) of Des Moines, which provides these subsidiaries with access to collateralized borrowings.", + "As of December 31, 2010, we had no borrowings from the FHLB.", + "In 2010, we entered into repurchase agreements to reduce reinvestment risk from higher levels of expected annuity net cash flows.", + "Repurchase agreements allow us to receive cash to reinvest in longer-duration assets, while paying back the short-term debt with cash flows generated by the fixed income portfolio.", + "The balance of repurchase agreements at December 31, 2010 was $397 million, which is collateralized with agency residential mortgage backed securities and corporate debt securities from our investment portfolio.", + "We believe cash flows from operating activities, available cash balances and our availability of revolver borrowings will be sufficient to fund our operating liquidity needs.", + "Dividends from Subsidiaries Ameriprise Financial is primarily a parent holding company for the operations carried out by our wholly owned subsidiaries.", + "Because of our holding company structure, our ability to meet our cash requirements, including the payment of dividends on our common stock, substantially depends upon the receipt of dividends or return of capital from our subsidiaries, particularly our life insurance subsidiary, RiverSource Life, our face-amount certificate subsidiary, Ameriprise Certificate Company (\u2018\u2018ACC\u2019\u2019), AMPF Holding Corporation, which is the parent company of our retail introducing broker-dealer subsidiary, Ameriprise Financial Services, Inc. (\u2018\u2018AFSI\u2019\u2019) and our clearing broker-dealer subsidiary, American Enterprise Investment Services, Inc. (\u2018\u2018AEIS\u2019\u2019), our Auto and Home insurance subsidiary, IDS Property Casualty Insurance Company (\u2018\u2018IDS Property Casualty\u2019\u2019), doing business as Ameriprise Auto & Home Insurance, our transfer agent subsidiary, Columbia Management Investment Services Corp. , our investment advisory company, Columbia Management Investment Advisers, LLC, and Threadneedle.", + "The payment of dividends by many of our subsidiaries is restricted and certain of our subsidiaries are subject to regulatory capital requirements.", + "Actual capital and regulatory capital requirements as of December 31 for our wholly owned subsidiaries subject to regulatory capital requirements were as follows:", + "||Actual Capital|Regulatory Capital Requirements|\n||2010|2009|2010|2009|\n||(in millions)|\n|RiverSource Life-1(2)|$3,813|$3,450|$652|$803|\n|RiverSource Life of NY-1(2)|291|286|38|44|\n|IDS Property Casualty-1(3)|411|405|141|133|\n|Ameriprise Insurance Company-1(3)|44|46|2|2|\n|ACC-4(5)|184|293|173|231|\n|Threadneedle-6|182|201|104|155|\n|Ameriprise Bank, FSB-7|302|255|294|231|\n|AFSI-3(4)|119|79|1|1|\n|Ameriprise Captive Insurance Company-3|38|28|12|12|\n|Ameriprise Trust Company-3|41|36|40|32|\n|AEIS-3(4)|115|133|35|29|\n|Securities America, Inc.-3(4)|2|15|#|#|\n|RiverSource Distributors, Inc.-3(4)|24|41|#|#|\n|Columbia Management Investment Distributors, Inc.-3(4)|27|13|#|#|\n", + "# Amounts are less than $1 million.", + "(1) Actual capital is determined on a statutory basis.", + "(2) Regulatory capital requirement is based on the statutory risk-based filing", + "The Company believes that its unrecognized tax benefits could decrease by $10,273 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "Belgian Tax Matter The Company believes that its unrecognized tax benefits could decrease by $10,273 within the next twelve months.", + "The Company has effectively settled all Federal income tax matters related to years prior to 2010.", + "Various other state and foreign income tax returns are open to examination for various years.", + "Belgian Tax Matter In January 2012, the Company received a \u20ac23,789 assessment from the Belgian tax authority related to its year ended December 31, 2008, asserting that the Company had understated its Belgian taxable income for that year.", + "The Company filed a formal protest in the first quarter of 2012 refuting the Belgian tax authority\u00a1\u00afs position.", + "The Belgian tax authority set aside the assessment in the third quarter of 2012 and refunded all related deposits, including interest income of \u20ac1,583 earned on such deposits.", + "However, on October 23, 2012, the Belgian tax authority notified the Company of its intent to increase the Company\u00a1\u00afs taxable income for the year ended December 31, 2008 under a revised theory.", + "On December 28, 2012, the Belgian tax authority issued assess\u0002ments for the years ended December 31, 2005 and December 31, 2009, in the amounts of \u20ac46,135 and \u20ac35,567, respectively, including penalties, but excluding interest.", + "The Company filed a formal protest during the first quarter of 2013 relating to the new assessments.", + "In September 2013, the Belgian tax authority denied the Company\u00a1\u00afs protests, and the Company has brought these two years before the Court of First Appeal in Bruges.", + "In December 2013, the Belgian tax authority issued additional assessments related to the years ended December 31, 2006, 2007, and 2010, in the amounts of \u20ac38,817, \u20ac39,635, and \u20ac43,117, respectively, including penalties, but excluding interest.", + "The Company filed formal protests during the first quarter of 2014, refuting the Belgian tax authority\u00a1\u00afs position for each of the years assessed.", + "In the quarter ended June 28, 2014, the Company received a formal assessment for the year ended December 31, 2008, totaling \u20ac30,131, against which the Company also submitted its formal protest.", + "All 4 additional years have been brought before the Court of First Appeal in November 2014.", + "In January of 2015, the Company met with the Court of First Appeal in Bruges, Belgium and agreed with the Belgium tax authorities to consolidate and argue the issues regarding the years 2005 and 2009, and apply the ruling to all of the open years (to the extent there are no additional facts/procedural arguments in the other years).", + "On January 27, 2016, the Court of First Appeal in Bruges, Belgium ruled in favor of the Company with respect to the calendar years ending December 31, 2005 and December 31, 2009.", + "The Company anticipates that the Belgian tax authority will appeal this ruling.", + "The Company disagrees with the views of the Belgian tax authority on this matter and will persist in its vigorous defense if there is an appeal.", + "Although there can be no assurances, the Company believes the ultimate outcome of these actions will not have a material adverse effect on its financial condition but could have a material adverse effect on its results of operations, liquidity or cash flows in a given quarter or year.", + "NOTE 14 COMMITMENTS AND CONTINGENCIES The Company is obligated under various operating leases for office and manufacturing space, machinery, and equipment.", + "Future minimum lease payments under non-cancelable capital and operating leases (with initial or remaining lease terms in excess of one year) as of December 31:", + "||Capital|Operating|Total FuturePayments|\n|2016|$1,385|95,407|96,792|\n|2017|1,257|76,748|78,005|\n|2018|1,139|54,306|55,445|\n|2019|972|34,907|35,879|\n|2020|555|20,263|20,818|\n|Thereafter|4,537|15,454|19,991|\n|Total payments|9,845|297,085|306,930|\n|Less amount representing interest|1,913|||\n|Present value of capitalized lease payments|$7,932|||\n", + "Rental expense under operating leases was $110,771, $114,529 and $116,541 in 2015, 2014 and 2013, respectively.", + "The Company had approximately $1,381 and $47,713 in standby letters of credit for various insurance contracts and commitments to foreign vendors as of December 31, 2015 and 2014, respectively that expire within two years.", + "The Company is involved in litigation from time to time in the regular course of its business.", + "Except as noted below and in Note 13\u00a1\u00aaIncome Taxes Belgian Tax Matter, there are no material legal proceedings pending or known by the Company to be contemplated to which the Company is a party or to which any of its property is subject.", + "Each of these facilities has a renewal provision for two one-year extensions, subject to lender approval.", + "The following table shows our capitalization structure as of December 31, 2011 and 2010, as well as an adjusted capitalization structure that we believe is consistent with the manner in which the rating agencies currently view the Junior Notes:", + "||2011|2010|\n|Capitalization Structure|Actual|Adjusted|Actual|Adjusted|\n||(Millions of Dollars)|\n|Common Equity|$3,963.3|$4,213.3|$3,802.1|$4,052.1|\n|Preferred Stock of Subsidiary|30.4|30.4|30.4|30.4|\n|Long-Term Debt (including current maturities)|4,646.9|4,396.9|4,405.4|4,155.4|\n|Short-Term Debt|669.9|669.9|657.9|657.9|\n|Total Capitalization|$9,310.5|$9,310.5|$8,895.8|$8,895.8|\n|Total Debt|$5,316.8|$5,066.8|$5,063.3|$4,813.3|\n|Ratio of Debt to Total Capitalization|57.1%|54.4%|56.9%|54.1%|\n", + "For a summary of the interest rate, maturity and amount outstanding of each series of our long-term debt on a consolidated basis, see the Consolidated Statements of Capitalization.", + "Included in Long-Term Debt on our Consolidated Balance Sheet as of December 31, 2011 and 2010 is $500 million aggregate principal amount of the Junior Notes.", + "The adjusted presentation attributes $250 million of the Junior Notes to Common Equity and $250 million to Long-Term Debt.", + "We believe this presentation is consistent with the 50% or greater equity credit the majority of rating agencies currently attribute to the Junior Notes.", + "The adjusted presentation of our consolidated capitalization structure is presented as a complement to our capitalization structure presented in accordance with GAAP.", + "Management evaluates and manages Wisconsin Energy's capitalization structure, including its total debt to total capitalization ratio, using the GAAP calculation as adjusted by the rating agency treatment of the Junior Notes.", + "Therefore, we believe the non-GAAP adjusted presentation reflecting this treatment is useful and relevant to investors in understanding how management and the rating agencies evaluate our capitalization structure.", + "As described in Note I -- Common Equity, in the Notes to Consolidated Financial Statements, certain restrictions exist on the ability of our subsidiaries to transfer funds to us.", + "We do not expect these restrictions to have any material effect on our operations or ability to meet our cash obligations.", + "Wisconsin Electric is the obligor under two series of tax exempt pollution control refunding bonds in outstanding principal amounts of $147 million.", + "In August 2009, Wisconsin Electric terminated letters of credit that provided credit and liquidity support for the bonds, which resulted in a mandatory tender of the bonds.", + "Wisconsin Electric issued commercial paper to fund the purchase of the bonds.", + "As of December 31, 2011, the repurchased bonds were still outstanding, but were reported as a reduction in our consolidated long-term debt because they are held by Wisconsin Electric.", + "Depending on market conditions and other factors, Wisconsin Electric may change the method used to determine the interest rate on the bonds and have them remarketed to third parties.", + "Bonus Depreciation Provisions In December 2010, the President of the United States signed tax legislation extending the bonus depreciation rules to certain projects placed in service in 2010, 2011 and 2012.", + "As a result of this extension, we recognized increased federal tax depreciation in 2010 and 2011 relating to assets placed in service during those years, including the Glacier Hills Wind Park, OC 1 and OC 2.", + "In addition, we also anticipate an increase in tax depreciation in 2012 for assets placed in service during 2012, including the Oak Creek AQCS project.", + "As a result of the increased tax depreciation in 2011 and 2012, we will not make federal income tax payments for 2011 and do not anticipate making federal income tax payments for 2012." + ], + "question_id": "simplong-test-388", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "In the year with lowest amount of Total writedowns in terms of Fixed Maturity Securities, what's the growth rate of Proceeds in terms of Fixed Maturity Securities?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Gross other postretirement benefit payments for the next ten years, which reflect expected future service where appropriate, and gross subsidies to be received under the Prescription Drug Act are expected to be as follows:", + "|| Gross| Prescription Drug Subsidies (In millions)| Net|\n|2009|$135|$-15|$120|\n|2010|$140|$-16|$124|\n|2011|$146|$-16|$130|\n|2012|$150|$-17|$133|\n|2013|$154|$-18|$136|\n|2014-2018|$847|$-107|$740|\n", + "Insolvency Assessments Most of the jurisdictions in which the Company is admitted to transact business require insurers doing business within the jurisdiction to participate in guaranty associations, which are organized to pay contractual benefits owed pursuant to insurance policies issued by impaired, insolvent or failed insurers.", + "These associations levy assessments, up to prescribed limits, on all member insurers in a particular state on the basis of the proportionate share of the premiums written by member insurers in the lines of business in which the impaired, insolvent or failed insurer engaged.", + "Some states permit member insurers to recover assessments paid through full or partial premium tax offsets.", + "Assets and liabilities held for insolvency assessments are as follows:", + "|| December 31,|\n|| 2008| 2007|\n|| (In millions)|\n|Other Assets:|||\n|Premium tax offset for future undiscounted assessments|$50|$40|\n|Premium tax offsets currently available for paid assessments|7|6|\n|Receivable for reimbursement of paid assessments -1|7|7|\n||$64|$53|\n|Other Liabilities:|||\n|Insolvency assessments|$83|$74|\n", + "(1) The Company holds a receivable from the seller of a prior acquisition in accordance with the purchase agreement.", + "Assessments levied against the Company were $2 million, ($1) million and $2 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "Effects of Inflation The Company does not believe that inflation has had a material effect on its consolidated results of operations, except insofar as inflation may affect interest rates.", + "Inflation in the United States has remained contained and been in a general downtrend for an extended period.", + "However, in light of recent and ongoing aggressive fiscal and monetary stimulus measures by the U. S. federal government and foreign governments, it is possible that inflation could increase in the future.", + "An increase in inflation could affect our business in several ways.", + "During inflationary periods, the value of fixed income investments falls which could increase realized and unrealized losses.", + "Inflation also increases expenses for labor and other materials, potentially putting pressure on profitability if such costs can not be passed through in our product prices.", + "Inflation could also lead to increased costs for losses and loss adjustment expenses in our Auto & Home business, which could require us to adjust our pricing to reflect our expectations for future inflation.", + "If actual inflation exceeds the expectations we use in pricing our policies, the profitability of our Auto & Home business would be adversely affected.", + "Prolonged and elevated inflation could adversely affect the financial markets and the economy generally, and dispelling it may require governments to pursue a restrictive fiscal and monetary policy, which could constrain overall economic activity, inhibit revenue growth and reduce the number of attractive investment opportunities.", + "Adoption of New Accounting Pronouncements Fair Value Effective January 1, 2008, the Company adopted SFAS No.157, Fair Value Measurements.", + "SFAS 157 which defines fair value, establishes a consistent framework for measuring fair value, establishes a fair value hierarchy based on the observability of inputs used to measure fair value, and requires enhanced disclosures about fair value measurements and applied the provisions of the statement prospectively to assets and liabilities measured at fair value.", + "The adoption of SFAS 157 changed the valuation of certain freestanding derivatives by moving from a mid to bid pricing convention as it relates to certain volatility inputs as well as the addition of liquidity adjustments and adjustments for risks inherent in a particular input or valuation technique.", + "The adoption of SFAS 157 also changed the valuation of the Company\u2019s embedded derivatives, most significantly the valuation of embedded derivatives associated with certain riders on variable annuity contracts.", + "The change in valuation of embedded derivatives associated with riders on annuity contracts resulted from the incorporation of risk margins associated with non capital market inputs and the inclusion of the Company\u2019s own credit standing in their valuation.", + "At January 1, 2008, the impact of adopting SFAS 157 on assets and liabilities measured at estimated fair value was $30 million ($19 million, net of income tax) and was recognized as a change in estimate in the accompanying consolidated statement of income where it was presented in the respective income statement caption to which the item measured at estimated fair value is presented.", + "There were no significant changes in estimated fair value of items measured at fair value and reflected in accumulated other comprehensive income (loss).", + "The addition of risk margins and the Company\u2019s own credit spread in the valuation of embedded derivatives associated with annuity contracts may result in significant volatility in the Company\u2019s consolidated net income in future periods.", + "Note 24 of the Notes to the", + "At December 31, 2008 and 2007, the Company\u2019s gross unrealized losses related to its fixed maturity and equity securities of $29.8 billion and $4.7 billion, respectively, were concentrated, calculated as a percentage of gross unrealized loss, as follows:", + "|| December 31,|\n||2008| 2007|\n| Sector:|||\n|U.S. corporate securities|33%|44%|\n|Foreign corporate securities|19|16|\n|Residential mortgage-backed securities|16|8|\n|Asset-backed securities|13|11|\n|Commercial mortgage-backed securities|11|4|\n|State and political subdivision securities|3|2|\n|Foreign government securities|1|4|\n|Other|4|11|\n|Total|100%|100%|\n| Industry:|||\n|Mortgage-backed|27%|12%|\n|Finance|24|33|\n|Asset-backed|13|11|\n|Consumer|11|3|\n|Utility|8|8|\n|Communication|5|2|\n|Industrial|4|19|\n|Foreign government|1|4|\n|Other|7|8|\n|Total|100%|100%|\n", + "Writedowns.", + "The components of fixed maturity and equity securities net investment gains (losses) are as follows:", + "||Fixed Maturity Securities|Equity Securities|Total|\n||2008|2007|2006|2008|2007|2006|2008|2007|2006|\n||(In millions)|\n|Proceeds|$62,495|$78,001|$86,725|$2,107|$1,112|$845|$64,602|$79,113|$87,570|\n|Gross investment gains|858|554|421|436|226|130|1,294|780|551|\n|Gross investment losses|-1,511|-1,091|-1,484|-263|-43|-22|-1,774|-1,134|-1,506|\n|Writedowns||||||||||\n|Credit-related|-1,138|-58|-56|-90|-19|-24|-1,228|-77|-80|\n|Other than credit-related -1|-158|-20|\u2014|-340|\u2014|\u2014|-498|-20|\u2014|\n|Total writedowns|-1,296|-78|-56|-430|-19|-24|-1,726|-97|-80|\n|Net investment gains (losses)|$-1,949|$-615|$-1,119|$-257|$164|$84|$-2,206|$-451|$-1,035|\n", + "(1) Other than credit-related writedowns include items such as equity securities where the primary reason for the writedown was the severity and/or the duration of an unrealized loss position and fixed maturity securities where an interest-rate related writedown was taken.", + "Overview of Fixed Maturity and Equity Security Writedowns.", + "Writedowns of fixed maturity and equity securities were $1.7 billion, $97 million and $80 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "Writedowns of fixed maturity securities were $1.3 billion, $78 million and $56 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "Writedowns of equity securities were $430 million, $19 million and $24 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The Company\u2019s credit-related writedowns of fixed maturity and equity securities were $1.2 billion, $77 million and $80 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The Company\u2019s credit-related writedowns of fixed maturity securities were $1.1 billion, $58 million and $56 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The Company\u2019s credit\u0002related writedowns of equity securities were $90 million, $19 million and $24 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The $90 million of credit-related equity securities writedowns in 2008 were primarily on non-redeemable preferred securities.", + "The Company\u2019s three largest impairments totaled $528 million, $19 million and $33 million for the years ended December 31, 2008, 2007 and 2006, respectively.", + "The Company records impairments as investment losses and adjusts the cost basis of the fixed maturity and equity securities accordingly.", + "The Company does not change the revised cost basis for subsequent recoveries in value.", + "Failure to comply with the financial and other covenants under our Credit Facilities, as well as the occurrence of certain material adverse events, would constitute defaults and would allow the lenders under our Credit Facilities to accelerate the maturity of all indebtedness under the related agreements.", + "This could also have an adverse impact on the availability of financial assurances.", + "In addition, maturity acceleration on our Credit Facilities constitutes an event of default under our other debt instruments, including our senior notes, and, therefore, our senior notes would also be subject to acceleration of maturity.", + "If such acceleration were to occur, we would not have sufficient liquidity available to repay the indebtedness.", + "We would likely have to seek an amendment under our Credit Facilities for relief from the financial covenants or repay the debt with proceeds from the issuance of new debt or equity, or asset sales, if necessary.", + "We may be unable to amend our Credit Facilities or raise sufficient capital to repay such obligations in the event the maturities are accelerated.", + "Financial assurance We are required to provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs, and related to our performance under certain collection, landfill and transfer station contracts.", + "We satisfy these financial assurance requirements by providing surety bonds, letters of credit, insurance policies or trust deposits.", + "The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations.", + "The financial assurance requirements for capping, closure and post-closure costs may be associated with a portion of the landfill or the entire landfill.", + "Generally, states will require a third-party engineering specialist to determine the estimated capping, closure and post\u0002closure costs that are used to determine the required amount of financial assurance for a landfill.", + "The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U. S. GAAP.", + "The amount of the financial assurance requirements related to contract performance varies by contract.", + "Additionally, we are required to provide financial assurance for our insurance program and collateral for certain performance obligations.", + "We do not expect a material increase in financial assurance requirements during 2010, although the mix of financial assurance instruments may change.", + "These financial instruments are issued in the normal course of business and are not debt of our company.", + "Since we currently have no liability for these financial assurance instruments, they are not reflected in our consolidated balance sheets.", + "However, we record capping, closure and post-closure liabilities and self-insurance liabilities as they are incurred.", + "The underlying obligations of the financial assurance instruments, in excess of those already reflected in our consolidated balance sheets, would be recorded if it is probable that we would be unable to fulfill our related obligations.", + "We do not expect this to occur.", + "Off-Balance Sheet Arrangements We have no off-balance sheet debt or similar obligations, other than financial assurance instruments and operating leases that are not classified as debt.", + "We do not guarantee any third-party debt.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with U. S. GAAP, as 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.", + "Our free cash flow for the years ended December 31, 2009, 2008 and 2007 is calculated as follows (in millions):" + ], + "question_id": "simplong-test-389", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What was the average value of Tier 1 capital, Risk-weighted, Adjusted average for Basel III Standardized Transitional in 2016 ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES Management\u2019s Discussion and Analysis 2018 versus 2017.", + "Provision for credit losses in the consolidated statements of earnings was $674 million for 2018, compared with $657 million for 2017, as the higher provision for credit losses primarily related to consumer loan growth in 2018 was partially offset by an impairment of approximately $130 million on a secured loan in 2017.2017 versus 2016.", + "Provision for credit losses in the consolidated statements of earnings was $657 million for 2017, compared with $182 million for 2016, reflecting an increase in impairments, which included an impairment of approximately $130 million on a secured loan in 2017, and higher provision for credit losses primarily related to consumer loan growth.", + "Operating Expenses Our operating expenses are primarily influenced by compensation, headcount and levels of business activity.", + "Compensation and benefits includes salaries, discretionary compensation, amortization of equity awards and other items such as benefits.", + "Discretionary compensation is significantly impacted by, among other factors, the level of net revenues, overall financial performance, prevailing labor markets, business mix, the structure of our share-based compensation programs and the external environment.", + "In addition, see \u201cUse of Estimates\u201d for further information about expenses that may arise from litigation and regulatory proceedings.", + "The table below presents operating expenses by line item and headcount.", + "||Year Ended December|\n|$ in millions|2018|2017|2016|\n|Compensation and benefits|$12,328|$11,653|$11,448|\n|Brokerage, clearing, exchange and distribution fees|3,200|2,876|2,823|\n|Market development|740|588|457|\n|Communications and technology|1,023|897|809|\n|Depreciation and amortization|1,328|1,152|998|\n|Occupancy|809|733|788|\n|Professional fees|1,214|1,165|1,081|\n|Other expenses|2,819|1,877|1,900|\n|Total operating expenses|$23,461|$20,941|$20,304|\n|Headcount atperiod-end|36,600|33,600|32,400|\n", + "In the table above, the following reclassifications have been made to previously reported amounts to conform to the current presentation: \u2030 Regulatory-related fees that are paid to exchanges are now reported in brokerage, clearing, exchange and distribution fees.", + "Previously such amounts were reported in other expenses.", + "\u2030 Headcount consists of our employees, and excludes consultants and temporary staff previously reported as part of total staff.", + "As a result, expenses related to these consultants and temporary staff are now reported in professional fees.", + "Previously such amounts were reported in compensation and benefits expenses.2018 versus 2017.", + "Operating expenses in the consolidated statements of earnings were $23.46 billion for 2018, 12% higher than 2017.", + "Our efficiency ratio (total operating expenses divided by total net revenues) for 2018 was 64.1%, compared with 64.0% for 2017.", + "The increase in operating expenses compared with 2017 was primarily due to higher compensation and benefits expenses, reflecting improved operating performance, and significantly higher net provisions for litigation and regulatory proceedings.", + "Brokerage, clearing, exchange and distribution fees were also higher, reflecting an increase in activity levels, and technology expenses increased, reflecting higher expenses related to computing services.", + "In addition, expenses related to consolidated investments and our digital lending and deposit platform increased, with the increases primarily in depreciation and amortization expenses, market development expenses and other expenses.", + "The increase compared with 2017 also included $297 million related to the recently adopted revenue recognition standard.", + "See Note 3 to the consolidated financial statements for further information about ASU No.2014-09, \u201cRevenue from Contracts with Customers (Topic 606).", + "\u201d Net provisions for litigation and regulatory proceedings for 2018 were $844 million compared with $188 million for 2017.2018 included a $132 million charitable contribution to Goldman Sachs Gives, our donor-advised fund.", + "Compensation was reduced to fund this charitable contribution to Goldman Sachs Gives.", + "We ask our participating managing directors to make recommendations regarding potential charitable recipients for this contribution.", + "As of December 2018, headcount increased 9% compared with December 2017, reflecting an increase in technology professionals and investments in new business initiatives.2017 versus 2016.", + "Operating expenses in the consolidated statements of earnings were $20.94 billion for 2017, 3% higher than 2016.", + "Our efficiency ratio for 2017 was 64.0% compared with 65.9% for 2016.", + "The increase in operating expenses compared with 2016 was primarily driven by slightly higher compensation and benefits expenses and our investments to fund growth.", + "Higher expenses related to consolidated investments and our digital lending and deposit platform were primarily included in depreciation and amortization expenses, market development expenses and other expenses.", + "In addition, technology expenses increased, reflecting higher expenses related to cloud-based services and software depreciation, and professional fees increased, primarily related to consulting costs.", + "These increases were partially offset by lower net provisions for litigation and regulatory proceedings, and lower occupancy expenses (primarily related to exit costs in 2016).", + "Note 26 \u2013 Regulatory capital The Federal Reserve establishes capital requirements, including well-capitalized standards, for the consolidated financial holding company.", + "The OCC establishes similar minimum capital requirements and standards for the Firm\u2019s IDI, including JPMorgan Chase Bank, N. A. and Chase Bank USA, N. A.", + "Capital rules under Basel III establish minimum capital ratios and overall capital adequacy standards for large and internationally active U. S. bank holding companies and banks, including the Firm and its IDI subsidiaries.", + "Basel III set forth two comprehensive approaches for calculating RWA: a standardized approach (\u201cBasel III Standardized\u201d) and an advanced approach (\u201cBasel III Advanced\u201d).", + "Certain of the requirements of Basel III are subject to phase-in periods that began on January 1, 2014 and continue through the end of 2018 (\u201ctransitional period\u201d).", + "The three categories of risk-based capital and their predominant components under the Basel III Transitional rules are illustrated below:", + "||JPMorgan Chase & Co.|\n||Basel III Standardized Transitional||Basel III Advanced Transitional|\n|(in millions,except ratios)|Dec 31, 2017|Dec 31, 2016||Dec 31, 2017|Dec 31,2016|\n|Regulatory capital||||||\n|CET1 capital|$183,300|$182,967||$183,300|$182,967|\n|Tier 1 capital(a)|208,644|208,112||208,644|208,112|\n|Total capital|238,395|239,553||227,933|228,592|\n|Assets||||||\n|Risk-weighted|1,499,506|1,483,132|(e)|1,435,825|1,476,915|\n|Adjusted average(b)|2,514,270|2,484,631||2,514,270|2,484,631|\n|Capital ratios(c)||||||\n|CET1|12.2%|12.3%|(e)|12.8%|12.4%|\n|Tier 1(a)|13.9|14.0|(e)|14.5|14.1|\n|Total|15.9|16.2|(e)|15.9|15.5|\n|Tier 1 leverage(d)|8.3|8.4||8.3|8.4|\n", + "The following tables present the regulatory capital, assets and risk-based capital ratios for JPMorgan Chase and its significant IDI subsidiaries under both Basel III Standardized Transitional and Basel III Advanced Transitional at December 31, 2017 and 2016.", + "||JPMorgan Chase Bank, N.A.|\n||Basel III Standardized Transitional||Basel III Advanced Transitional|\n|(in millions,except ratios)|Dec 31, 2017|Dec 31, 2016||Dec 31, 2017|Dec 31,2016|\n|Regulatory capital||||||\n|CET1 capital|$184,375|$179,319||$184,375|$179,319|\n|Tier 1 capital(a)|184,375|179,341||184,375|179,341|\n|Total capital|195,839|191,662||189,419|184,637|\n|Assets||||||\n|Risk-weighted|1,335,809|1,311,240|(e)|1,226,534|1,262,613|\n|Adjusted average(b)|2,116,031|2,088,851||2,116,031|2,088,851|\n|Capital ratios(c)||||||\n|CET1|13.8%|13.7%|(e)|15.0%|14.2%|\n|Tier 1(a)|13.8|13.7|(e)|15.0|14.2|\n|Total|14.7|14.6|(e)|15.4|14.6|\n|Tier 1 leverage(d)|8.7|8.6||8.7|8.6|\n", + "Notes to consolidated financial statements Securities lending indemnifications Through the Firm\u2019s securities lending program, counterparties\u2019 securities, via custodial and non-custodial arrangements, may be lent to third parties.", + "As part of this program, the Firm provides an indemnification in the lending agreements which protects the lender against the failure of the borrower to return the lent securities.", + "To minimize its liability under these indemnification agreements, the Firm obtains cash or other highly liquid collateral with a market value exceeding 100% of the value of the securities on loan from the borrower.", + "Collateral is marked to market daily to help assure that collateralization is adequate.", + "Additional collateral is called from the borrower if a shortfall exists, or collateral may be released to the borrower in the event of overcollateralization.", + "If a borrower defaults, the Firm would use the collateral held to purchase replacement securities in the market or to credit the lending client or counterparty with the cash equivalent thereof.", + "Derivatives qualifying as guarantees The Firm transacts certain derivative contracts that have the characteristics of a guarantee under U. S. GAAP.", + "These contracts include written put options that require the Firm to purchase assets upon exercise by the option holder at a specified price by a specified date in the future.", + "The Firm may enter into written put option contracts in order to meet client needs, or for other trading purposes.", + "The terms of written put options are typically five years or less.", + "Derivatives deemed to be guarantees also includes stable value contracts, commonly referred to as \u201cstable value products\u201d, that require the Firm to make a payment of the difference between the market value and the book value of a counterparty\u2019s reference portfolio of assets in the event that market value is less than book value and certain other conditions have been met.", + "Stable value products are transacted in order to allow investors to realize investment returns with less volatility than an unprotected portfolio.", + "These contracts are typically longer-term or may have no stated maturity, but allow the Firm to elect to terminate the contract under certain conditions.", + "The notional value of derivatives guarantees generally represents the Firm\u2019s maximum exposure.", + "However, exposure to certain stable value products is contractually limited to a substantially lower percentage of the notional amount.", + "The fair value of derivative guarantees reflects the probability, in the Firm\u2019s view, of whether the Firm will be required to perform under the contract.", + "The Firm reduces exposures to these contracts by entering into offsetting transactions, or by entering into contracts that hedge the market risk related to the derivative guarantees.", + "The following table summarizes the derivatives qualifying as guarantees as of December 31, 2017, and 2016." + ], + "question_id": "simplong-test-390", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what was the ratio of the floating rate notes included in the long-term debt payments for 2013 to 2014", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Japanese Yen (approximately $63 million and $188 million, respectively, based on applicable exchange rates at that time).", + "The cash paid of approximately $63 million during the quarter ended March 31, 2010 as a result of the purchase of Sumitomo 3M shares from SEI is classified as \u201cOther financing activities\u201d in the consolidated statement of cash flows.", + "The remainder of the purchase financed by the note payable to SEI is considered non-cash financing activity in the first quarter of 2010.", + "As discussed in Note 2, during the second quarter of 2010, 3M recorded a financed liability of 1.7 billion Japanese yen (approximately $18 million based on applicable exchange rates at that time) related to the A-One acquisition, which is also considered a non-cash financing activity.", + "Off-Balance Sheet Arrangements and Contractual Obligations: As of December 31, 2012, the Company has not utilized special purpose entities to facilitate off-balance sheet financing arrangements.", + "Refer to the section entitled \u201cWarranties/Guarantees\u201d in Note 13 for discussion of accrued product warranty liabilities and guarantees.", + "In addition to guarantees, 3M, in the normal course of business, periodically enters into agreements that require the Company to indemnify either major customers or suppliers for specific risks, such as claims for injury or property damage arising out of the use of 3M products or the negligence of 3M personnel, or claims alleging that 3M products infringe third\u0002party patents or other intellectual property.", + "While 3M\u2019s maximum exposure under these indemnification provisions cannot be estimated, these indemnifications are not expected to have a material impact on the Company\u2019s consolidated results of operations or financial condition.", + "A summary of the Company\u2019s significant contractual obligations as of December 31, 2012, follows: Contractual Obligations", + "|||Payments due by year|\n|(Millions)|Total|2013|2014|2015|2016|2017|After 2017|\n|Long-term debt, including current portion (Note 9)|$5,902|$986|$1,481|$107|$994|$648|$1,686|\n|Interest on long-term debt|1,721|189|152|97|96|79|1,108|\n|Operating leases (Note 13)|735|194|158|119|77|68|119|\n|Capital leases (Note 13)|96|22|21|8|7|4|34|\n|Unconditional purchase obligations and other|1,489|1,060|209|111|48|33|28|\n|Total contractual cash obligations|$9,943|$2,451|$2,021|$442|$1,222|$832|$2,975|\n", + "Long-term debt payments due in 2013 and 2014 include floating rate notes totaling $132 million (classified as current portion of long-term debt) and $97 million, respectively, as a result of put provisions associated with these debt instruments.", + "Unconditional purchase obligations are defined as an agreement to purchase goods or services that is enforceable and legally binding on the Company.", + "Included in the unconditional purchase obligations category above are certain obligations related to take or pay contracts, capital commitments, service agreements and utilities.", + "These estimates include both unconditional purchase obligations with terms in excess of one year and normal ongoing purchase obligations with terms of less than one year.", + "Many of these commitments relate to take or pay contracts, in which 3M guarantees payment to ensure availability of products or services that are sold to customers.", + "The Company expects to receive consideration (products or services) for these unconditional purchase obligations.", + "Contractual capital commitments are included in the preceding table, but these commitments represent a small part of the Company\u2019s expected capital spending in 2013 and beyond.", + "The purchase obligation amounts do not represent the entire anticipated purchases in the future, but represent only those items for which the Company is contractually obligated.", + "The majority of 3M\u2019s products and services are purchased as needed, with no unconditional commitment.", + "For this reason, these amounts will not provide a reliable indicator of the Company\u2019s expected future cash outflows on a stand-alone basis.", + "Other obligations, included in the preceding table within the caption entitled \u201cUnconditional purchase obligations and other,\u201d include the current portion of the liability for uncertain tax positions under ASC 740, which is expected to be paid out in cash in the next 12 months.", + "The Company is not able to reasonably estimate the timing of the long-term payments or the amount by which the liability will increase or decrease over time; therefore, the long-term portion of the net tax liability of $170 million is excluded from the preceding table.", + "Refer to Note 7 for further details.", + "Compensation expense was determined from the estimates of fair values of stock options granted using the Black-Scholes option-pricing model.", + "The following summarizes the weighted average of fair value and the significant assumptions used in applying the Black-Scholes model for options granted:", + "|| 2006 | 2005 | 2004 |\n|Weighted average of fair value for options granted|$15.02|15.33|11.85|\n|Weighted average assumptions used:||||\n|Expected dividend yield|2.0%|2.0%|2.0%|\n|Expected volatility|18.0%|25.0%|26.8%|\n|Risk-free interest rate|4.95%|3.95%|3.11%|\n|Expected life (in years)|4.1|4.1|3.8|\n", + "The methodology used to estimate the fair values of stock options is consistent with the estimates used for the pro forma presentation in years prior to the adoption of SFAS 123R.", + "The assumptions for expected dividend yield, expected volatility and expected life reflect management\u2019s judgment and include consideration of historical experience.", + "Expected volatility is based on historical volatility.", + "The risk-free interest rate is based on the U. S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.", + "The following summarizes our stock option activity for the three years ended December 31, 2006:", + "|| Number of shares | Weighted average exercise price |\n|Balance at December 31, 2003|7,570,645|$49.51|\n|Granted|2,279,621|57.28|\n|Exercised|-1,812,594|48.32|\n|Expired|-170,662|52.54|\n|Forfeited|-233,235|51.59|\n|Balance at December 31, 2004|7,633,775|51.98|\n|Granted|912,905|71.37|\n|Assumed in acquisition|1,559,693|47.44|\n|Exercised|-1,872,753|50.00|\n|Expired|-519,521|66.53|\n|Forfeited|-216,533|55.46|\n|Balance at December 31, 2005|7,497,566|52.79|\n|Granted|979,274|81.14|\n|Exercised|-1,631,012|49.43|\n|Expired|-52,398|50.00|\n|Forfeited|-106,641|62.89|\n|Balance at December 31, 2006|6,686,789|57.62|\n|Outstanding options exercisable as of:|||\n|December 31, 2006|4,409,971|$50.73|\n|December 31, 2005|4,663,707|49.04|\n|December 31, 2004|3,711,405|51.02|\n", + "We issue new authorized shares for the exercise of stock options.", + "During 2006, the total intrinsic value of options exercised was approximately $50.8 million.", + "Additional selected information on stock options at December 31, 2006 follows:", + "|| Outstanding options | Exercisable options |\n| Exercise price range| Number of shares | Weighted average exercise price | Weighted average remaining contractual life (years) | Number of shares | Weighted average exercise price |\n|$ 0.32 to $ 19.99|76,164|$11.63|0.9-1|76,164|$11.63|\n|$ 20.00 to $ 39.99|190,986|27.44|2.2|190,986|27.44|\n|$ 40.00 to $ 44.99|1,290,243|42.23|2.6|1,290,243|42.23|\n|$ 45.00 to $ 49.99|356,590|48.30|4.6|356,590|48.30|\n|$ 50.00 to $ 54.99|1,011,382|53.72|2.4|1,006,735|53.71|\n|$ 55.00 to $ 59.99|1,550,516|56.92|4.5|917,585|57.03|\n|$ 60.00 to $ 64.99|172,390|61.51|2.7|102,522|61.72|\n|$ 65.00 to $ 69.99|198,253|67.30|6.4|146,699|67.42|\n|$ 70.00 to $ 74.99|759,814|70.86|5.5|255,919|70.91|\n|$ 75.00 to $ 79.99|116,126|75.92|6.0|57,528|75.84|\n|$ 80.00 to $ 82.92|964,325|81.14|6.4|9,000|80.65|\n||6,686,789|57.62|4.2-1|4,409,971|50.73|\n", + "1 The weighted average remaining contractual life excludes 35,023 stock options that do not have a fixed expiration date.", + "They expire between the date of termination and one year from the date of termination, depending upon certain circumstances.", + "For outstanding options at December 31, 2006, the aggregate intrinsic value was $166.0 million.", + "For exercisable options at December 31, 2006, the aggregate intrinsic value was $139.9 million and the weighted average remaining contractual life was 3.4 years, excluding the stock options previously noted without a fixed expiration date.", + "The previous tables do not include options for employees to purchase common stock of our subsidiaries, TCBO and NetDeposit.", + "At December 31, 2006 for TCBO, there were options to purchase 87,000 shares at an exercise price of $20.00.", + "At December 31, 2006, there were 1,038,000 issued and outstanding shares of TCBO common stock.", + "For NetDeposit, there were options to purchase 11,739,920 shares at exercise prices from $0.42 to $1.00.", + "At December 31, 2006, there were 100,536,568 issued and outstanding shares of NetDeposit common stock.", + "TCBO and NetDeposit options are included in the previous pro forma disclosure.", + "Net income increased 6.0% to $172.6 million in 2006 compared with $162.9 million for 2005, and $145.8 million for 2004.", + "Loan growth, interest rate risk management, credit management, customer profitability management and expense control were the primary contributors to the positive results of operations for 2006 while the loss of deposits and higher cost of funding negatively impacted earnings.", + "Net interest income for 2006 increased $18.0 million or 4.0% to $469.4 million compared to $451.4 million for 2005 and $410.2 million for 2004.", + "CB&T\u2019s net interest margin was 4.81%, 4.91% and 4.78% for 2006, 2005 and 2004, respectively.", + "The bank strives to maintain a slightly asset-sensitive position with regard to interest rate risk management, meaning that when market interest rates rise, the net interest margin increases.", + "Net interest income in 2006 increased although the margin narrowed due to the flattening yield curve and the competitive pressures of increases in interest rates on deposits and increased reliance on higher cost nondeposit funding.", + "The efficiency ratio has improved in each of the past three years: 44.4% for 2006, 46.3% for 2005, and 47.9% for 2004.", + "CB&T continues to focus on managing operating efficiencies and costs in relation to revenue.", + "Total revenue was $550.1 million, an increase of 4.5% over $526.4 million in 2005.", + "Noninterest expense grew to $244.6 million, an increase of 0.3% over $243.9 million in 2005.", + "This modest expense growth was primarily due to strong controls over staffing levels and other variable expenses.", + "Full-time equivalent employees declined to 1,659 in December 2006 from 1,673 in December 2005.", + "Schedule 15 CALIFORNIA BANK & TRUST", + "|| 2006 | 2005 | 2004 |\n| PERFORMANCE RATIOS||||\n|Return on average assets|1.59%|1.59%|1.51%|\n|Return on average common equity|15.40%|15.53%|14.52%|\n|Efficiency ratio|44.42%|46.29%|47.93%|\n|Net interest margin|4.81%|4.91%|4.78%|\n| OTHER INFORMATION||||\n|Full-time equivalent employees|1,659|1,673|1,722|\n|Domestic offices:||||\n|Traditional branches|91|91|91|\n|ATMs|103|105|107|\n", + "Net loans and leases grew $421 million or 5.5% in 2006 compared to 2005.", + "Commercial, small business, real estate construction, and commercial real estate loans grew modestly in 2006 compared to 2005, while consumer loans declined and residential real estate loans remained flat.", + "CB&T does not expect overall loan growth in 2007 to be much different than 2006 given the tenuous business climate particularly in its primary Southern California commercial and residential real estate construction and development markets.", + "Total deposits declined $486 million or 5.5% in 2006 compared to 2005.", + "The ratio of noninterest-bearing deposits to total deposits was 33.6% and 33.2% for 2006 and 2005, respectively.", + "Reflecting general banking conditions in California, CB&T was challenged in its deposit growth in 2006 and expects to continue to be challenged in 2007.", + "Nonperforming assets were $27.1 million at December 31, 2006 compared to $20.0 million one year ago.", + "Nonperforming assets to net loans and other real estate owned at December 31, 2006 was 0.34% compared to 0.26% at December 31, 2005.", + "Net loan and lease charge-offs were $10.9 million for 2006 compared with $4.9 million for 2005.", + "CB&T\u2019s loan loss provision was $15.0 million for 2006 compared to $9.9 million for 2005.", + "The ratio of the allowance for loan losses to nonperforming loans was 360.3% at year-end 2006 compared to 512.1% at year-end 2005.", + "The ratio of the allowance for loan losses to net loans and leases was 1.17% and 1.18% at December 31, 2006 and 2005, respectively.", + "Amegy Corporation Amegy is headquartered in Houston, Texas and operates Amegy Bank, the tenth largest full-service commercial bank in Texas measured by deposits in the state.", + "Amegy operates 64 full-service traditional branches and 8 banking centers in grocery stores in the Houston metropolitan area, and five traditional branches and one loan production office in the Dallas metropolitan area.", + "During the first quarter of 2007, Amegy continued its expansion into the attractive markets in Texas by opening its first location in San Antonio, a loan production office to serve the Central Texas market.", + "Amegy also operates a broker-dealer (Amegy Investments, Inc), a trust and private bank group, and a mortgage bank (Amegy Mortgage Company).", + "The Texas economy is the eleventh largest in the world with two-thirds of all state economic activity occurring in", + "We monitor this risk through the use of two complementary measurement methods: duration of equity and income simulation.", + "In the duration of equity method, we measure the expected changes in the market values of equity in response to changes in interest rates.", + "In the income simulation method, we analyze the expected changes in income in response to changes in interest rates.", + "Duration of equity is derived by first calculating the dollar duration of all assets, liabilities and derivative instruments.", + "Dollar duration is determined by calculating the market value of each instrument assuming interest rates sustain immediate and parallel movements up 1% and down 1%.", + "The average of these two changes in market value is the dollar duration.", + "Subtracting the dollar duration of liabilities from the dollar duration of assets and adding the net dollar duration of derivative instruments results in the dollar duration of equity.", + "Duration of equity is computed by dividing the dollar duration of equity by the market value of equity.", + "Income simulation is an estimate of the net interest income that would be recognized under different rate environments.", + "Net interest income is measured under several parallel and nonparallel interest rate environments and deposit repricing assumptions, taking into account an estimate of the possible exercise of options within the portfolio.", + "Both of these measurement methods require that we assess a number of variables and make various assumptions in managing the Company\u2019s exposure to changes in interest rates.", + "The assessments address loan and security prepayments, early deposit withdrawals, and other embedded options and noncontrollable events.", + "As a result of uncertainty about the maturity and repricing characteristics of both deposits and loans, the Company estimates ranges of duration and income simulation under a variety of assumptions and scenarios.", + "The Company\u2019s interest rate risk position changes as the interest rate environment changes and is managed actively to try to maintain a consistent slightly asset-sensitive position.", + "However, positions at the end of any period may not be reflective of the Company\u2019s position in any subsequent period.", + "We should note that duration of equity is highly sensitive to the assumptions used for deposits that do not have specific maturities, such as checking, savings, and money market accounts and also to prepayment assumptions used for loans with prepayment options.", + "Given the uncertainty of these durations, we view the duration of equity as falling within a range of possibilities.", + "For income simulation, Company policy requires that interest sensitive income from a static balance sheet is expected to decline by no more than 10% during one year if rates were to immediately rise or fall in parallel by 200 basis points.", + "As of the dates indicated, Schedule 41 shows the Company\u2019s estimated range of duration of equity, duration of equity simulation, and percentage change in interest sensitive income in the first year after the rate change if interest rates were to sustain an immediate parallel change of 200 basis points; the \u201clow\u201d and \u201chigh\u201d results differ based on the assumed speed of repricing of administered-rate deposits (money market, interest-on-checking, and savings): Schedule 41 DURATION OF EQUITY AND INTEREST SENSITIVE INCOME" + ], + "question_id": "simplong-test-391", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What do all Trading securities debt sum up, excluding those negative ones in 2009 for Trading securities debt? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "A detailed reconciliation of available for sale, trading securities and equity investments measured at fair value on a recurring basis using Level 3 inputs for the year ended December 31, 2009 follows.", + "| Level 3 Instruments OnlyIn millions|Residential mortgage- backed agency|Residential mortgage- backed non-agency|Commercial mortgage- backed non-agency|Asset- backed|State and municipal|Other debt|Corporate stocks and other|Total available forsale securities|\n|December 31, 2008||$3,304|$337|$833|$271|$34|$58|$4,837|\n|National City acquisition|$7|899||59|50|48||1,063|\n|January 1, 2009|7|4,203|337|892|321|82|58|5,900|\n|Total realized/unrealized gains or losses:|||||||||\n|Included in earnings (**)||-444|-6|-104||-9||-563|\n|Included in other comprehensive income|-2|616|627|-22|-2|4|-6|1,215|\n|Purchases, issuances, and settlements, net||-713|-253|-37|-23|-19|-5|-1,050|\n|Transfers into Level 3, net||4,640|-699|525|-30|-5||4,431|\n|December 31, 2009|$5|$8,302|$6|$1,254|$266|$53|$47|$9,933|\n|(**) Amounts attributable to unrealized gains or losses related to available for salesecurities held at December 31, 2009:||$-444|$-6|$-104||$-9||$-563|\n", + "(**) Amounts attributable to unrealized gains or losses related to available for sale securities held at", + "| Level 3 Instruments OnlyIn millions|Trading securities debt|Trading securities equity|Equity investments - direct|Equity investments - indirect|\n|December 31, 2008|$56|$17|$322|$249|\n|National City acquisition|26|6|287|323|\n|January 1, 2009|82|23|609|572|\n|Total realized/unrealized gains or losses:|||||\n|Included in earnings (**)|-3|1|-24|-20|\n|Purchases, issuances, and settlements, net|8|-20|10|41|\n|Transfers into Level 3, net|2|-4|||\n|December 31, 2009|$89|$\u2014|$595|$593|\n|(**) Amounts attributable to unrealized gains or losses related to trading securitiesand equity investments held at December 31, 2009:|||$-33|$-19|\n", + "Interest income earned from trading securities totaled $61 million for 2009, $116 million for 2008 and $116 million for 2007.", + "These amounts are included in other interest income on the Consolidated Income Statement.", + "Nonrecurring Fair Value Changes We may be required to measure certain other financial assets at fair value on a nonrecurring basis.", + "These adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or write-downs of individual assets due to impairment.", + "The amounts below for nonaccrual loans and loans held for sale represent the carrying value of loans for which adjustments are primarily based on the appraised value of collateral or based on an observable market price, which often results in significant management assumptions and input with respect to the determination of fair value.", + "The fair value determination of the equity investment resulting in an impairment loss included below was based on observable market data for other comparable entities as adjusted for internal assumptions and unobservable inputs.", + "The amounts below for commercial servicing rights reflect a recovery of a certain strata during 2009 while no strata were impaired at December 31, 2009 and two strata were impaired at December 31, 2008.", + "The fair value of commercial mortgage servicing rights is estimated by using an internal valuation model.", + "The model calculates the present value of estimated future net servicing cash flows considering estimates of servicing revenue and costs, discount rates and prepayment speeds.", + "Annually, this model is subject to an internal review process to validate controls and model results.", + "As of December 31, 2009 and 2008, we had a liability for uncertain tax positions excluding interest and penalties of $227 million and $257 million, respectively.", + "A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows: Changes in Unrecognized Tax Benefits", + "|In millions|2009|2008|2007|\n|Balance of gross unrecognized tax benefits at January 1|$257|$57|$49|\n|Increases:||||\n|Positions taken during a prior period|22|203(a)|52(b)|\n|Positions taken during the current period|26||1|\n|Decreases:||||\n|Positions taken during a prior period|-39|-3|-2|\n|Settlements with taxing authorities|-34||-39|\n|Reductions resulting from lapse of statute of limitations|-5||-4|\n|Balance of gross unrecognized tax benefits at December 31|$227|$257|$57|\n", + "(a) Includes $202 million acquired from National City.", + "(b) Includes $42 million acquired from Mercantile.", + "|December 31, 2009 \u2013 In millions| 2009|\n|Unrecognized tax benefits related to:||\n|Acquired companies within measurement period:||\n|Permanent differences|$5|\n|Other:||\n|Temporary differences|37|\n|Permanent differences|185|\n|Total|$227|\n", + "Any changes in the amounts of unrecognized tax benefits related to temporary differences would result in a reclassification to deferred tax liability; any changes in the amounts of unrecognized tax benefits related to other permanent differences (per above table) would result in an adjustment to income tax expense and therefore our effective tax rate.", + "The unrecognized tax benefits related to other permanent items above that if recognized would affect the effective tax rate is $162 million.", + "This is less than the total amount of unrecognized tax benefit related to permanent differences because a portion of those unrecognized benefits relate to state tax matters.", + "It is reasonably possible that the liability for uncertain tax positions could increase or decrease in the next twelve months due to completion of tax authorities\u2019 exams or the expiration of statutes of limitations.", + "Management estimates that the liability for uncertain tax positions could decrease by $44 million within the next twelve months.", + "The consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries through 2003 have been audited by the Internal Revenue Service (IRS) and we have resolved all disputed matters through the IRS appeals division.", + "The IRS is currently examining the 2004 through 2006 consolidated federal income tax returns of The PNC Financial Services Group, Inc. and subsidiaries and we expect that examination to conclude, with all adjustments being agreed to, in the first half of 2010.", + "We expect the IRS to begin its examination of our 2007 and 2008 consolidated federal income tax returns during 2010.", + "The consolidated federal income tax returns of National City through 2004 have been audited by the IRS and we have resolved all matters through the IRS Appeals division.", + "The formal closing agreement is not yet executed.", + "The IRS has completed field examination of the 2005 through 2007 consolidated federal income tax returns of National City and unresolved issues will be appealed.", + "We expect the 2008 federal income tax return to begin being audited later in 2010.", + "California, Delaware, District of Columbia, Florida, Illinois, Indiana, Maryland, Missouri, New Jersey, New York, and New York City are principally where we were subject to state and local income tax.", + "Audits currently in process for these states include: California (2003-2005), Illinois (2004-2007), Indiana (2004-2007), Missouri (2003-2005), New York (2001- 2006), and New York City (2005-2007).", + "In the ordinary course of business we are routinely subject to audit by the taxing authorities of states and at any given time a number of audits will be in process.", + "The years remaining open under the statute of limitations for assessing income taxes is 2006 or 2007 and later for most state and local jurisdictions.", + "Our policy is to classify interest and penalties associated with income taxes as income tax expense.", + "For 2009, we had net recoveries of $24 million of gross interest and penalties reducing income tax expense.", + "The total accrued interest and penalties at December 31, 2009 and December 31, 2008 was $144 million and $164 million, respectively.", + "constitutes an event of default under our other debt instruments, including our senior notes, and, therefore, our senior notes would also be subject to acceleration of maturity.", + "If such acceleration were to occur, we would not have sufficient liquidity available to repay the indebtedness.", + "We would likely have to seek an amendment under our Credit Facilities for relief from the financial covenants or repay the debt with proceeds from the issuance of new debt or equity, or asset sales, if necessary.", + "We may be unable to amend our Credit Facilities or raise sufficient capital to repay such obligations in the event the maturities are accelerated.", + "Financial assurance We must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs, and related to our performance under certain collection, landfill and transfer station contracts.", + "We satisfy these financial assurance requirements by providing surety bonds, letters of credit, or insurance policies (the Financial Assurance Instruments), or trust deposits, which are included in restricted cash and marketable securities and other assets in our consolidated balance sheets.", + "The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations.", + "The financial assurance requirements for capping, closure and post-closure costs may be associated with a portion of the landfill or the entire landfill.", + "Generally, states require a third-party engineering specialist to determine the estimated capping, closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill.", + "The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U. S. GAAP.", + "The amount of the financial assurance requirements related to contract performance varies by contract.", + "Additionally, we must provide financial assurance for our insurance program and collateral for certain performance obligations.", + "We do not expect a material increase in financial assurance requirements during 2014, although the mix of financial assurance instruments may change.", + "These financial instruments are issued in the normal course of business and are not considered indebtedness.", + "Because we currently have no liability for the Financial Assurance Instruments, they are not reflected in our consolidated balance sheets; however, we record capping, closure and post-closure liabilities and self-insurance liabilities as they are incurred.", + "The underlying obligations of the financial assurance instruments, in excess of those already reflected in our consolidated balance sheets, would be recorded if it is probable that we would be unable to fulfill our related obligations.", + "We do not expect this to occur.", + "Off-Balance Sheet Arrangements We have no off-balance sheet debt or similar obligations, other than financial assurance instruments and operating leases, that are not classified as debt.", + "We do not guarantee any third-party debt.", + "Free Cash Flow We define free cash flow, which is not a measure determined in accordance with U. S. GAAP, as 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.", + "Our free cash flow for the years ended December 31, 2013, 2012 and 2011 is calculated as follows (in millions of dollars):" + ], + "question_id": "simplong-test-392", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What will U.S. high-grade be like in 2005 if it develops with the same increasing rate as current? (in thousand)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Table of Contents Broker-dealer clients pay a commission for transactions in sovereign and corporate bonds issued by entities domiciled in an emerging markets country based on the type and amount of the security traded.", + "The commission is calculated on a standard schedule that applies to all broker-dealer clients and varies depending on whether the transaction is in an actively traded sovereign issue, a less actively traded sovereign issue or a corporate issue.", + "A lower commission rate is charged for actively traded sovereign issues, while a higher commission rate is charged for corporate issues.", + "The average commission on emerging markets transactions for the year ended December 31, 2004 was $205 per million traded.", + "For newly-issued U. S. high-grade corporate bonds and for newly-issued sovereign and corporate bonds issued by entities domiciled in an emerging markets country, we enable U. S. institutional investors to submit indications of interest on our electronic trading platform directly to the underwriter syndicate desks of our broker-dealer clients.", + "Broker-dealer clients pay a commission for new issue transactions that is based on the allocation amount.", + "The commission is set as a percentage of the new issue selling costs paid by the issuer to our broker-dealer client.", + "The percentage of the new issue selling costs is lower on orders over $5 million.", + "The fee is capped on larger transactions.", + "There are currently no fixed monthly fees or caps on the level of monthly commissions.", + "The average commission on new issue transactions for the year ended December 31, 2004 was $297 per million traded U. S. Treasury Securities In September 2004, we started trading U. S. Treasury securities on our trading platform.", + "In 2004, the total revenues we derived from the trading of U. S. Treasury securities on our platform was not material.", + "The commission is calculated as a flat fee per million of notional amount traded and applies to all broker-dealer clients.", + "Please see \u201c\u2014 Risk Factors That May Affect Future Results \u2014 If we are unable to enter into additional marketing and strategic alliances or if our current strategic alliances are not successful, we may not maintain the current level of trading or generate increased trading on our trading platform.", + "Information and User Access Fees", + "|| Year Ended December 31,|\n|| 2004| 2003| 2002|\n||| % of|| % of|| % of|\n||| Total|| Total|| Total|\n|| $| Revenues| $| Revenues| $| Revenues|\n|| ($ in thousands)|\n|Information services fees|$2,280|3.0%|$826|1.5%|$15|0.0%|\n|User access fees|433|0.6|318|0.5|272|1.5|\n||$2,713|3.6%|$1,144|2.0%|$287|1.5%|\n", + "Information and user access fees consist of information services fees and monthly user fees.", + "We charge information services fees for Corporate BondTicker to our broker-dealer clients, institutional investor clients and data only subscribers.", + "The information services fee is a flat monthly fee, based on the level of service.", + "We also generate information services fees from the sale of bulk data to certain institutional investor clients and data only subscribers.", + "Institutional investor clients trading U. S. high-grade corporate bonds are charged a monthly user access fee for the use of our platform.", + "The fee, billed quarterly, is charged to the client based on the number of the client\u2019s users.", + "To encourage institutional investor clients to execute trades on our U. S. high-grade corporate bond platform, we reduce these information and user access fees for such clients once minimum quarterly trading volumes are attained.", + "Revenues Our revenues for the years ended December 31, 2004 and 2003, and the resulting dollar and percentage change, are as follows:", + "||Year Ended December 31,|||\n||2004|2003|||\n|| $|% of Revenues| $|% of Revenues|$ Change|% Change|\n||($ in thousands)|\n| Revenues|||||||\n|Commissions|||||||\n|U.S. high-grade|$45,465|60.0%|$40,310|69.0%|$5,155|12.8%|\n|European high-grade|15,142|20.0|7,126|12.2|8,016|112.5|\n|Other|7,565|10.0|5,364|9.1|2,201|41.0|\n|Total commissions|68,172|90.0|52,800|90.3|15,372|29.1|\n|Information and user access fees|2,713|3.6|1,144|2.0|1,569|137.2|\n|License fees|3,143|4.1|4,145|7.1|-1,002|-24.2|\n|Interest income|882|1.2|371|0.6|511|137.7|\n|Other|887|1.1|\u2014|0|887|\u2014|\n|Total revenues|$75,797|100%|$58,460|100%|$17,337|29.7%|\n", + "Commissions.", + "Total commissions increased by $15.4 million or 29.1% to $68.2 million for the year ended December 31, 2004 from $52.8 million for the comparable period in 2003.", + "This increase was primarily due to increases in the amount of U. S. high-grade commissions and substantial increases in European high-grade commissions.", + "U. S. high-grade commissions increased by $5.2 million or 12.8% to $45.5 million for the year ended December 31, 2004 from $40.3 million for the comparable period in 2003.", + "European high-grade commissions increased by $8.0 million or 112.5% to $15.1 million from $7.1 million for the comparable period in 2003.", + "Other commissions increased by $2.2 million or 41.0% to $7.6 million from $5.4 million for the comparable period in 2003.", + "These increases were primarily due to an increase in transaction volume from $192.2 billion for the year ended December 31, 2003 to $298.1 billion for the year ended December 31, 2004 generated by new and existing clients, offset by a 16.7% reduction in the average commission per million from $275 per million for the year ended December 31, 2003 to $229 per million for the year ended December 31, 2004.", + "This decrease in average commission per million was attributable to the full-year effect of our U. S. high-grade fee plans, increasing volumes of transactions with lower fees per million and an increase in the percentage of trades executed on the platform with shorter maturities, which generally generate lower commissions per million, Information and User Access Fees.", + "Information and user access fees increased by $1.6 million or 137.2% to $2.7 million for the year ended December 31, 2004 from $1.1 million for the year ended December 31, 2003.", + "This increase was primarily due to an increase in the number of subscribers to our Corporate BondTicker service.", + "License Fees.", + "License fees decreased by $1.0 million or 24.2% to $3.1 million for the year ended December 31, 2004 from $4.1 million for the year ended December 31, 2003.", + "This decrease was due to the addition of four new broker-dealer clients in the year ended December 31, 2004 compared to five new broker-dealer clients added in the year ended December 31, 2003.", + "Interest Income.", + "Interest income increased by $0.5 million or 137.7% to $0.9 million for the year ended December 31, 2004 from $0.4 million for the comparable period in 2003.", + "This increase was due to a rise in interest rates and higher cash, cash equivalents and short-term investment balances during the year ended December 31, 2004 as compared to the comparable period in 2003.", + "Other.", + "Other revenues increased to $0.9 million for the year ended December 31, 2004 from $0.0 million for the comparable period in 2003.", + "This increase was primarily due to the effects of a change in accounting policy with respect to recognizing as revenue gross telecommunication line fees paid by broker-", + "PART II Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Price Range Our common stock commenced trading on the NASDAQ National Market under the symbol \u201cMKTX\u201d on November 5, 2004.", + "Prior to that date, there was no public market for our common stock.", + "The high and low bid information for our common stock, as reported by NASDAQ, was as follows:", + "||High|Low|\n|November 5, 2004 to December 31, 2004|$24.41|$12.75|\n|January 1, 2005 to March 31, 2005|$15.95|$9.64|\n|April 1, 2005 to June 30, 2005|$13.87|$9.83|\n|July 1, 2005 to September 30, 2005|$14.09|$9.99|\n|October 1, 2005 to December 31, 2005|$13.14|$10.64|\n", + "On March 8, 2006, the last reported closing price of our common stock on the NASDAQ National Market was $12.59.", + "Holders There were approximately 114 holders of record of our common stock as of March 8, 2006. Dividend Policy We have not declared or paid any cash dividends on our capital stock since our inception.", + "We intend to retain future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future.", + "In the event we decide to declare dividends on our common stock in the future, such declaration will be subject to the discretion of our Board of Directors.", + "Our Board may take into account such matters as general business conditions, our financial results, capital requirements, contractual, legal, and regulatory restrictions on the payment of dividends by us to our stockholders or by our subsidiaries to us and any such other factors as our Board may deem relevant.", + "Use of Proceeds On November 4, 2004, the registration statement relating to our initial public offering (No.333-112718) was declared effective.", + "We received net proceeds from the sale of the shares of our common stock in the offering of $53.9 million, at an initial public offering price of $11.00 per share, after deducting underwriting discounts and commissions and estimated offering expenses.", + "Except for salaries, and reimbursements for travel expenses and other out-of -pocket costs incurred in the ordinary course of business, none of the proceeds from the offering have been paid by us, directly or indirectly, to any of our directors or officers or any of their associates, or to any persons owning ten percent or more of our outstanding stock or to any of our affiliates.", + "We have invested the proceeds from the offering in cash and cash equivalents and short-term marketable securities." + ], + "question_id": "simplong-test-393", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what's the total amount of Ending Stores of 2010, Principal balance outstanding At December 31 of Automobile 2009 [EMPTY].1, and Principal balance outstanding At December 31 of Home Equity 2008 ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "The following table sets forth information concerning increases in the total number of our AAP stores during the past five years:", + "||2011|2010|2009|2008|2007|\n|Beginning Stores|3,369|3,264|3,243|3,153|2,995|\n|New Stores-1|95|110|75|109|175|\n|Stores Closed|-4|-5|-54|-19|-17|\n|Ending Stores|3,460|3,369|3,264|3,243|3,153|\n", + "(1) Does not include stores that opened as relocations of previously existing stores within the same general market area or substantial renovations of stores.6WRUH\u00037HFKQRORJ\\\u0011\u0003 Our store-based information systems, which are designed to improve the efficiency of our operations and enhance customer service, are comprised of a proprietary POS system and electronic parts catalog, or EPC, system.", + "Information maintained by our POS system is used to formulate pricing, marketing and merchandising strategies and to replenish inventory accurately and rapidly.", + "Our POS system is fully integrated with our EPC system and enables our store Team Members to assist our customers in their parts selection and ordering based on the year, make, model and engine type of their vehicles.", + "Our centrally-based EPC data management system enables us to reduce the time needed to (i) exchange data with our vendors and (ii) catalog and deliver updated, accurate parts information.", + "Our EPC system also contains enhanced search engines and user-friendly navigation tools that enhance our Team Members' ability to look up any needed parts as well as additional products the customer needs to complete an automotive repair project.", + "If a hard-to-find part or accessory is not available at one of our stores, the EPC system can determine whether the part is carried and in-stock through our HUB or PDQ?", + "networks or can be ordered directly from one of our vendors.", + "Available parts and accessories are then ordered electronically from another store, HUB, PDQ?", + "or directly from the vendor with immediate confirmation of price, availability and estimated delivery time.", + "We also support our store operations with additional proprietary systems and customer driven labor scheduling capabilities.", + "Our store-level inventory management system provides real-time inventory tracking at the store level.", + "With the store-level system, store Team Members can check the quantity of on-hand inventory for any SKU, adjust stock levels for select items for store specific events, automatically process returns and defective merchandise, designate SKUs for cycle counts and track merchandise transfers.", + "Our stores use radio frequency hand-held devices to help ensure the accuracy of our inventory.", + "Our standard operating procedure, or SOP, system is a web-based, electronic data management system that provides our Team Members with instant access to any of our standard operating procedures through a comprehensive on-line search function.", + "All of these systems are tightly integrated and provide real-time, comprehensive information to store personnel, resulting in improved customer service levels, Team Member productivity and in-stock availability.6WRUH\u00036XSSRUW\u0003&HQWHU\u0003 0HUFKDQGLVLQJ\u0011\u0003 Purchasing for virtually all of the merchandise for our stores is handled by our merchandise teams located in three primary locations: ?", + "Store support center in Roanoke, Virginia; ?", + "Regional office in Minneapolis, Minnesota; and ?", + "Global sourcing office in Taipei, Taiwan.", + "Our Roanoke team is primarily responsible for the parts categories and our Minnesota team is primarily responsible for accessories, oil and chemicals.", + "Our global sourcing team works closely with both teams.", + "In Fiscal 2011, we purchased merchandise from approximately 500 vendors, with no single vendor accounting for more than 9% of purchases.", + "Our purchasing strategy involves negotiating agreements with most of our vendors to purchase merchandise over a specified period of time along with other terms, including pricing, payment terms and volume.", + "The merchandising team has developed strong vendor relationships in the industry and, in a collaborative effort with our vendor partners, utilizes a category management process where we manage the mix of our product offerings to meet customer demand.", + "We believe this process, which develops a customer-focused business plan for each merchandise category, and our global sourcing operation are critical to improving comparable store sales, gross margin and inventory productivity.", + "There were no new securitizations of home equity loans during 2009 and 2008.", + "The following table summarizes selected information related to home equity and automobile loan securitizations at and for the year ended December 31, 2009 and 2008.", + "|| Home Equity|Automobile|\n|(Dollars in millions)| 2009|2008| 2009|2008|\n| For the Year Ended December 31|||||||\n|Cash proceeds from new securitizations| $| \u2013|$\u2013| $| \u2013|$741|\n|Losses on securitizations-1| | \u2013|\u2013| | \u2013|-31|\n|Collections reinvested in revolving period securitizations| | 177|235| | \u2013|\u2013|\n|Repurchases of loans from trust-2| | 268|128| | 298|184|\n|Cash flows received on residual interests| | 35|27| | 52|\u2013|\n| At December 31|||||||\n|Principal balance outstanding| | 46,282|34,169| | 2,656|5,385|\n|Senior securities held-3, 4| | 15|\u2013| | 2,119|4,102|\n|Subordinated securities held-5| | 48|3| | 195|383|\n|Residual interests held-6| | 100|93| | 83|84|\n", + "(1) Net of hedges (2) Repurchases of loans from the trust for home equity loans are typically a result of the Corporation\u2019s representations and warranties, modifications or the exercise of an optional clean-up call.", + "In addition, during 2009 and 2008, the Corporation paid $141 million and $34 million to indemnify the investor or insurer under the representations and warranties, and corporate guarantees.", + "For further information regarding representations and warranties, and corporate guarantees, see the First Lien Mortgage-related Securitizations discussion.", + "Repurchases of automobile loans during 2009 and 2008 were due to the exercise of an optional clean-up call.", + "(3) As a holder of these securities, the Corporation receives scheduled interest and principal payments.", + "During 2009, there were no other-than-temporary impairment losses recorded on those securities classified as AFS debt securities.", + "(4) At December 31, 2009, all of the held senior securities issued by the home equity securitization trusts were valued using quoted market prices and classified as trading account assets.", + "At December 31, 2009 and 2008, substantially all of the held senior securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(5) At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the home equity securitization trusts were valued using model valuations and classified as AFS debt securities.", + "At December 31, 2009 and 2008, substantially all of the held subordinated securities issued by the automobile securitization trusts were valued using quoted market prices and classified as AFS debt securities.", + "(6) Residual interests include the residual asset, overcollateralization and cash reserve accounts, which are carried at fair value or amounts that approximate fair value.", + "The residual interests were derived using model valuations and substantially all are classified in other assets.", + "Under the terms of the Corporation\u2019s home equity securitizations, advances are made to borrowers when they draw on their lines of credit and the Corporation is reimbursed for those advances from the cash flows in the securitization.", + "During the revolving period of the securitiza\u0002tion, this reimbursement normally occurs within a short period after the advance.", + "However, when the securitization transaction has begun a rapid amortization period, reimbursement of the Corporation\u2019s advance occurs only after other parties in the securitization have received all of the cash flows to which they are entitled.", + "This has the effect of extending the time period for which the Corporation\u2019s advances are outstanding.", + "In partic\u0002ular, if loan losses requiring draws on monoline insurers\u2019 policies, which protect the bondholders in the securitization, exceed a specified thresh\u0002old or duration, the Corporation may not receive reimbursement for all of the funds advanced to borrowers, as the senior bondholders and the monoline insurers have priority for repayment.", + "The Corporation evaluates all of its home equity securitizations for their potential to experience a rapid amortization event by estimating the amount and timing of future losses on the underlying loans, the excess spread available to cover such losses and by evaluating any estimated shortfalls in relation to contractually defined triggers.", + "A maximum funding obligation attributable to rapid amortization cannot be calculated as a home equity borrower has the ability to pay down and redraw balances.", + "At December 31, 2009 and 2008, home equity securitization transactions in rapid amortization had $14.1 billion and $13.1 billion of trust certifi\u0002cates outstanding.", + "This amount is significantly greater than the amount the Corporation expects to fund.", + "At December 31, 2009, an additional $1.1 billion of trust certificates outstanding pertain to home equity securi\u0002tization transactions that are expected to enter rapid amortization during the next 24 months.", + "The charges that will ultimately be recorded as a result of the rapid amortization events are dependent on the performance of the loans, the amount of subsequent draws, and the timing of related cash flows.", + "At December 31, 2009 and 2008, the reserve for losses on expected future draw obligations on the home equity securitizations in or expected to be in rapid amortization was $178 million and $345 million.", + "The Corporation has consumer MSRs from the sale or securitization of home equity loans.", + "The Corporation recorded $128 million and $78 mil\u0002lion of servicing fee income related to home equity securitizations during 2009 and 2008.", + "For more information on MSRs, see Note 22 \u2013 Mortgage Servicing Rights.", + "At December 31, 2009 and 2008, there were no recog\u0002nized servicing assets or liabilities associated with any of the automobile securitization transactions.", + "The Corporation recorded $43 million and $30 million in servicing fees related to automobile securitizations during 2009 and 2008.", + "The Corporation provides financing to certain entities under asset\u0002backed financing arrangements.", + "These entities are controlled and con\u0002solidated by third parties.", + "At December 31, 2009, the principal balance outstanding for these asset-backed financing arrangements was $10.4 billion, the maximum loss exposure was $6.8 billion, and on-balance sheet assets were $6.7 billion which are primarily recorded in loans and leases.", + "The total cash flows for 2009 were $491 million and are primarily related to principal and interest payments received.", + "NOTE 9 \u2013 Variable Interest Entities The Corporation utilizes SPEs in the ordinary course of business to sup\u0002port its own and its customers\u2019 financing and investing needs.", + "These SPEs are typically structured as VIEs and are thus subject to con\u0002solidation by the reporting enterprise that absorbs the majority of the economic risks and rewards of the VIE.", + "To determine whether it must consolidate a VIE, the Corporation qualitatively analyzes the design of the VIE to identify the creators of variability within the VIE, including an assessment as to the nature of the risks that are created by the assets and other contractual arrangements of the VIE, and identifies whether it will absorb a majority of that variability.", + "In addition, the Corporation uses VIEs such as trust preferred secu\u0002rities trusts in connection with its funding activities, as described in more detail in Note 13 \u2013 Long-term Debt.", + "The Corporation also uses VIEs in the form of synthetic securitization vehicles to mitigate a portion of the credit risk on its residential mortgage loan portfolio as described in", + "Item 7.", + "MANAGEMENT\u2019S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Continued 54 LIQUIDITY AND CAPITAL RESOURCES Cash, cash equivalents and marketable investment securities.", + "We consider all liquid investments purchased within 90 days of their maturity to be cash equivalents.", + "See \u201cItem 7A.", + "\u2013 Quantitative and Qualitative Disclosures About Market Risk\u201d for further discussion regarding our marketable investment securities.", + "As of December 31, 2008, our cash, cash equivalents and current marketable investment securities totaled $559 million compared to $2.788 billion as of December 31, 2007, a decrease of $2.229 billion.", + "Our principal source of liquidity during 2008 was cash generated by operating activities of $2.188 billion, approximately $750 million raised in issuing our 7 ?% Senior Notes due 2015 and the net sales of marketable and strategic investments of $166 million.", + "Our primary uses of cash during 2008 were for the redemption of $1.5 billion of debt, the purchases of property and equipment of $1.130 billion, the acquisition of 700 MHz wireless spectrum for $712 million, the distribution of $1.532 billion to EchoStar related to the Spin-off, and the repurchase of 3.1 million shares of our common stock for $83 million.", + "In addition, we reclassified $240 million of marketable investment securities on hand at December 31, 2007 to noncurrent assets during 2008 as recent events in the credit markets have reduced or eliminated current liquidity for these investments.", + "The following discussion highlights our free cash flow and cash flow activities during the years ended December 31, 2008, 2007 and 2006.", + "Free cash flow.", + "We define free cash flow as \u201cNet cash flows from operating activities\u201d less \u201cPurchases of property and equipment,\u201d as shown on our Consolidated Statements of Cash Flows.", + "We believe free cash flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to repay debt obligations, make investments, fund acquisitions and for certain other activities.", + "Free cash flow is not a measure determined in accordance with GAAP and should not be considered a substitute for \u201cOperating income,\u201d \u201cNet income,\u201d \u201cNet cash flows from operating activities\u201d or any other measure determined in accordance with GAAP.", + "Since free cash flow includes investments in operating assets, we believe this non-GAAP liquidity measure is useful in addition to the most directly comparable GAAP measure - \u201cNet cash flows from operating activities.", + "\u201d During the years ended December 31, 2008, 2007 and 2006, free cash flow was significantly impacted by changes in operating assets and liabilities as shown in the \u201cNet cash flows from operating activities\u201d section of our Consolidated Statements of Cash Flows included herein.", + "Operating asset and liability balances can fluctuate significantly from period to period and there can be no assurance that free cash flow will not be negatively impacted by material changes in operating assets and liabilities in future periods, since these changes depend upon, among other things, management\u2019s timing of payments and control of inventory levels, and cash receipts.", + "In addition to fluctuations resulting from changes in operating assets and liabilities, free cash flow can vary significantly from period to period depending upon, among other things, subscriber growth, subscriber revenue, subscriber churn, subscriber acquisition costs including amounts capitalized under our equipment lease programs, operating efficiencies, increases or decreases in purchases of property and equipment and other factors.", + "The following table reconciles free cash flow to \u201cNet cash flows from operating activities.", + "\u201d", + "|| For the Years Ended December 31,|\n|| 2008| 2007 (In thousands)| 2006|\n|Free cash flow|$1,058,454|$1,172,198|$882,924|\n|Add back:||||\n|Purchases of property and equipment|1,129,890|1,444,522|1,396,318|\n|Net cash flows from operating activities|$2,188,344|$2,616,720|$2,279,242|\n", + "The decline in free cash flow from 2007 to 2008 of $114 million resulted from a decrease in \u201cNet cash flows from operating activities\u201d of $429 million, or 16.4%, partially offset by a decrease in \u201cPurchases of property and equipment\u201d of $315 million, or 21.8%.", + "The decrease in \u201cNet cash flows from operating activities\u201d was primarily attributable to a $351 million decrease in cash resulting from changes in operating assets and liabilities and a $59 million decrease in net income, adjusted to exclude non-cash changes in \u201cDepreciation and amortization\u201d expense and \u201cRealized and", + "Notes to Consolidated Financial Statements Note 16.", + "Statutory Accounting Practices (Unaudited) CNA\u2019s domestic insurance subsidiaries maintain their accounts in conformity with accounting practices prescribed or permitted by insurance regulatory authorities, which vary in certain respects from GAAP.", + "In converting from statutory accounting principles to GAAP, typical adjustments include deferral of policy acquisition costs and the inclusion of net unrealized holding gains or losses in shareholders\u2019 equity relating to certain fixed maturity securities.", + "CNA\u2019s insurance subsidiaries are domiciled in various jurisdictions.", + "These subsidiaries prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the respective jurisdictions\u2019 insurance regulators.", + "Prescribed statutory accounting practices are set forth in a variety of publications of the National Association of Insurance Commissioners (\u201cNAIC\u201d) as well as state laws, regulations and general administrative rules.", + "CCC follows a permitted practice related to the statutory provision for reinsurance, or the uncollectible reinsurance reserve.", + "This permitted practice allows CCC to record an additional uncollectible reinsurance reserve amount through a different financial statement line item than the prescribed statutory convention.", + "This permitted practice had no effect on CCC\u2019s statutory surplus at December 31, 2007 or 2006.", + "CNA\u2019s ability to pay dividends and other credit obligations is significantly dependent on receipt of dividends from its subsidiaries.", + "The payment of dividends to CNA by its insurance subsidiaries without prior approval of the insurance department of each subsidiary\u2019s domiciliary jurisdiction is limited by formula.", + "Dividends in excess of these amounts are subject to prior approval by the respective state insurance departments.", + "Dividends from CCC are subject to the insurance holding company laws of the State of Illinois, the domiciliary state of CCC.", + "Under these laws, ordinary dividends, or dividends that do not require prior approval of the Illinois Department of Financial and Professional Regulation \u2013 Division of Insurance (the \u201cDepartment\u201d), may be paid only from earned surplus, which is calculated by removing unrealized gains from unassigned surplus.", + "As of December 31, 2007, CCC is in a positive earned surplus position, enabling CCC to pay approximately $630 million of dividend payments during 2008 that would not be subject to the Department\u2019s prior approval.", + "The actual level of dividends paid in any year is determined after an assessment of available dividend capacity, holding company liquidity and cash needs as well as the impact the dividends will have on the statutory surplus of the applicable insurance company.", + "CNA\u2019s domestic insurance subsidiaries are subject to risk-based capital requirements.", + "Risk-based capital is a method developed by the NAIC to determine the minimum amount of statutory capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile.", + "The formula for determining the amount of risk-based capital specifies various factors, weighted based on the perceived degree of risk, which are applied to certain financial balances and financial activity.", + "The adequacy of a company\u2019s actual capital is evaluated by a comparison to the risk-based capital results, as determined by the formula.", + "Companies below minimum risk-based capital requirements are classified within certain levels, each of which requires specified corrective action.", + "As of December 31, 2007 and 2006, all of CNA\u2019s domestic insurance subsidiaries exceeded the minimum risk-based capital requirements.", + "Combined statutory capital and surplus and net income, determined in accordance with accounting practices prescribed or permitted by insurance regulatory authorities for the property and casualty and the life insurance subsidiaries, were as follows:" + ], + "question_id": "simplong-test-394", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "what is the total value of the issued securities approved by security holders , ( in millions ) ?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "BCC enters into certain transactions with Boeing, reflected in Unallocated items, eliminations and other, in the form of intercompany guarantees and other subsidies that mitigate the effects of certain credit quality or asset impairment issues on the BCC segment.", + "Liquidity and Capital Resources Cash Flow Summary", + "|Years ended December 31,|2015|2014|2013|\n|Net earnings|$5,176|$5,446|$4,585|\n|Non-cash items|2,392|2,515|2,516|\n|Changes in working capital|1,795|897|1,078|\n|Net cash provided by operating activities|9,363|8,858|8,179|\n|Net cash (used)/provided by investing activities|-1,846|2,467|-5,154|\n|Net cash used by financing activities|-7,920|-8,593|-4,249|\n|Effect of exchange rate changes on cash and cash equivalents|-28|-87|-29|\n|Net (decrease)/increase in cash and cash equivalents|-431|2,645|-1,253|\n|Cash and cash equivalents at beginning of year|11,733|9,088|10,341|\n|Cash and cash equivalents at end of period|$11,302|$11,733|$9,088|\n", + "Operating Activities Net cash provided by operating activities was $9.4 billion during 2015, compared with $8.9 billion during 2014 and $8.2 billion in 2013.", + "The increase of $0.5 billion in 2015 was primarily due to lower inventory growth, partially offset by lower receipts of advances and progress billings.", + "The increase of $0.7 billion in 2014 was primarily due to higher customer advances which more than offset higher gross inventory.", + "Our investment in gross inventories decreased by $0.3 billion in 2015 primarily in our BDS business, largely driven by ending production of C-17 aircraft, which more than offset continued investment in commercial airplane program inventory.", + "Our investment in gross inventories increased $7.6 billion in 2014 and $5.7 billion in 2013, largely driven by continued investment in commercial airplane program inventory, primarily 787 inventory.", + "Advances and progress billings increased by $0.4 billion in 2015, $6.9 billion in 2014 and $3.9 billion in 2013, primarily due to payments from Commercial Airplane customers.", + "Discretionary contributions to our pension plans were insignificant in 2015 compared with $0.8 billion in 2014 and $1.5 billion in 2013.", + "Investing Activities Cash used by investing activities was $1.8 billion during 2015 compared with $2.5 billion provided during 2014 and $5.2 billion used during 2013, largely due to changes in investments in time deposits.", + "Net proceeds from investments were $0.6 billion in 2015 compared with $4.8 billion in 2014 and net contributions to investments of $2.9 billion in 2013.", + "In 2015, capital expenditures totaled $2.5 billion, up from $2.2 billion in 2014 and $2.1 billion in 2013.", + "We expect capital expenditures in 2016 to be consistent with 2015 due to continued investment to support growth.", + "Financing Activities Cash used by financing activities was $7.9 billion during 2015, a decrease of $0.7 billion compared with 2014 primarily due to higher new borrowings of $0.8 billion and lower repayments of debt and distribution rights of $0.9 billion in 2015, which more than offset higher share repurchases of $0.8 billion and higher dividend payments of $0.4 billion in 2015.", + "Cash used by financing activities was $8.6 billion during 2014, an increase of $4.3 billion compared with 2013 primarily due to higher share repurchases of $3.2 billion, higher dividends paid of $0.6 billion and a decrease in proceeds from stock options exercised of $0.8 billion in 2014, partially offset by higher new borrowings of $0.4 billion in 2014.", + "Table XII Selected Quarterly Financial Data (continued)", + "||2013 Quarters|2012 Quarters|\n|(Dollars in millions)|Fourth|Third|Second|First|Fourth|Third|Second|First|\n|Average balance sheet|||||||||\n|Total loans and leases|$929,777|$923,978|$914,234|$906,259|$893,166|$888,859|$899,498|$913,722|\n|Total assets|2,134,875|2,123,430|2,184,610|2,212,430|2,210,365|2,173,312|2,194,563|2,187,174|\n|Total deposits|1,112,674|1,090,611|1,079,956|1,075,280|1,078,076|1,049,697|1,032,888|1,030,112|\n|Long-term debt|251,055|258,717|270,198|273,999|277,894|291,684|333,173|363,518|\n|Common shareholders\u2019 equity|220,088|216,766|218,790|218,225|219,744|217,273|216,782|214,150|\n|Total shareholders\u2019 equity|233,415|230,392|235,063|236,995|238,512|236,039|235,558|232,566|\n|Asset quality-4|||||||||\n|Allowance for credit losses-5|$17,912|$19,912|$21,709|$22,927|$24,692|$26,751|$30,862|$32,862|\n|Nonperforming loans, leases and foreclosed properties-6|17,772|20,028|21,280|22,842|23,555|24,925|25,377|27,790|\n|Allowance for loan and lease losses as a percentage of total loans and leases outstanding-6|1.90%|2.10%|2.33%|2.49%|2.69%|2.96%|3.43%|3.61%|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases-6|102|100|103|102|107|111|127|126|\n|Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the PCI loan portfolio-6|87|84|84|82|82|81|90|91|\n|Amounts included in allowance that are excluded from nonperforming loans and leases-7|$7,680|$8,972|$9,919|$10,690|$12,021|$13,978|$16,327|$17,006|\n|Allowance as a percentage of total nonperforming loans and leases, excluding amounts included in the allowance that are excluded from nonperforming loans and leases-7|57%|54%|55%|53%|54%|52%|59%|60%|\n|Net charge-offs-8|$1,582|$1,687|$2,111|$2,517|$3,104|$4,122|$3,626|$4,056|\n|Annualized net charge-offs as a percentage of average loans and leases outstanding-6, 8|0.68%|0.73%|0.94%|1.14%|1.40%|1.86%|1.64%|1.80%|\n|Annualized net charge-offs as a percentage of average loans and leases outstanding, excluding the PCI loan portfolio-6|0.70|0.75|0.97|1.18|1.44|1.93|1.69|1.87|\n|Annualized net charge-offs and PCI write-offs as a percentage of average loans and leases outstanding-6, 9|1.00|0.92|1.07|1.52|1.90|2.63|1.64|1.80|\n|Nonperforming loans and leases as a percentage of total loans and leases outstanding-6|1.87|2.10|2.26|2.44|2.52|2.68|2.70|2.85|\n|Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties-6|1.93|2.17|2.33|2.53|2.62|2.81|2.87|3.10|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs-8|2.78|2.90|2.51|2.20|1.96|1.60|2.08|1.97|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs, excluding the PCI loan portfolio|2.38|2.42|2.04|1.76|1.51|1.17|1.46|1.43|\n|Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs and PCI write-offs-9|1.89|2.30|2.18|1.65|1.44|1.13|2.08|1.97|\n|Capital ratios at period end-10|||||||||\n|Risk-based capital:|||||||||\n|Tier 1 common capital|11.19%|11.08%|10.83%|10.49%|11.06%|11.41%|11.24%|10.78%|\n|Tier 1 capital|12.44|12.33|12.16|12.22|12.89|13.64|13.80|13.37|\n|Total capital|15.44|15.36|15.27|15.50|16.31|17.16|17.51|17.49|\n|Tier 1 leverage|7.86|7.79|7.49|7.49|7.37|7.84|7.84|7.79|\n|Tangible equity-3|7.86|7.73|7.67|7.78|7.62|7.85|7.73|7.48|\n|Tangible common equity-3|7.20|7.08|6.98|6.88|6.74|6.95|6.83|6.58|\n", + "For footnotes see page 134", + "ITEM 12.", + "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.", + "The information required by Item 12 is included under the heading \u201cSecurity Ownership of Management and Certain Beneficial Owners\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K. Equity Compensation Plan Information The following table provides information about our equity compensation plans that authorize the issuance of shares of Lockheed Martin common stock to employees and directors.", + "The information is provided as of December 31, 2016.", + "|Plan category|Number of securities to beissued upon exercise of outstanding options, warrants and rights (a)|Weighted-average exercise price of outstanding options, warrants and rights (b)|Number of securities remaining availablefor future issuance under equity compensation plans (excluding securities reflected in column (a)) (c)|\n|Equity compensation plans approved by securityholders-1|5,802,673|$85.82|6,216,471|\n|Equity compensation plans not approved bysecurity holders-2|1,082,347|\u2014|2,481,032|\n|Total|6,885,020|$85.82|8,697,503|\n", + "(1) Column (a) includes, as of December 31, 2016: 1,747,151 shares that have been granted as Restricted Stock Units (RSUs), 936,308 shares that could be earned pursuant to grants of Performance Stock Units (PSUs) (assuming the maximum number of PSUs are earned and payable at the end of the three-year performance period) and 2,967,046 shares granted as options under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (2011 IPA Plan) or predecessor plans prior to January 1, 2013 and 23,346 shares granted as options and 128,822 stock units payable in stock or cash under the Lockheed Martin Corporation 2009 Directors Equity Plan (Directors Equity Plan) or predecessor plans for members (or former members) of the Board of Directors.", + "Column (c) includes, as of December 31, 2016, 5,751,655 shares available for future issuance under the 2011 IPA Plan as options, stock appreciation rights (SARs), restricted stock awards (RSAs), RSUs or PSUs and 464,816 shares available for future issuance under the Directors Equity Plan as stock options and stock units.", + "Of the 5,751,655 shares available for grant under the 2011 IPA Plan on December 31, 2016, 516,653 and 236,654 shares are issuable pursuant to grants made on January 26, 2017, of RSUs and PSUs (assuming the maximum number of PSUs are earned and payable at the end of the three-year performance period), respectively.", + "The weighted average price does not take into account shares issued pursuant to RSUs or PSUs.", + "(2) The shares represent annual incentive bonuses and Long-Term Incentive Performance (LTIP) payments earned and voluntarily deferred by employees.", + "The deferred amounts are payable under the Deferred Management Incentive Compensation Plan (DMICP).", + "Deferred amounts are credited as phantom stock units at the closing price of our stock on the date the deferral is effective.", + "Amounts equal to our dividend are credited as stock units at the time we pay a dividend.", + "Following termination of employment, a number of shares of stock equal to the number of stock units credited to the employee\u2019s DMICP account are distributed to the employee.", + "There is no discount or value transfer on the stock distributed.", + "Distributions may be made from newly issued shares or shares purchased on the open market.", + "Historically, all distributions have come from shares held in a separate trust and, therefore, do not further dilute our common shares outstanding.", + "As a result, these shares also were not considered in calculating the total weighted average exercise price in the table.", + "Because the DMICP shares are outstanding, they should be included in the denominator (and not the numerator) of a dilution calculation.", + "ITEM 13.", + "Certain Relationships and Related Transactions and Director Independence.", + "The information required by this Item 13 is included under the captions \u201cCorporate Governance \u2013 Related Person Transaction Policy,\u201d \u201cCorporate Governance \u2013 Certain Relationships and Related Person Transactions of Directors, Executive Officers, and 5 Percent Stockholders,\u201d and \u201cCorporate Governance \u2013 Director Independence\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K.", + "ITEM 14.", + "Principal Accountant Fees and Services.", + "The information required by this Item 14 is included under the caption \u201cProposal 2 \u2013 Ratification of Appointment of Independent Auditors\u201d in the 2017 Proxy Statement, and that information is incorporated by reference in this Form 10-K.", + "Total debt at December 31 consisted of the following (in thousands):", + "||2017|2016|\n|2016 Facility|$1,270,000|$1,930,000|\n|$400 million 1.850% senior notes due 2017|\u2014|400,000|\n|$800 million 2.050% senior notes due 2018|800,000|800,000|\n|$500 million 6.250% senior notes due 2019|500,000|500,000|\n|$600 million 3.000% senior notes due 2020|600,000|600,000|\n|$500 million 2.800% senior notes due 2021|500,000|500,000|\n|$500 million 3.125% senior notes due 2022|500,000|500,000|\n|$300 million 3.850% senior notes due 2025|300,000|300,000|\n|$700 million 3.800% senior notes due 2026|700,000|700,000|\n|Other|3,149|2,989|\n|Less unamortized debt issuance costs|-17,594|-23,453|\n|Total debt|5,155,555|6,209,536|\n|Less current portion, net of issuance costs|800,944|400,975|\n|Long-term debt|$4,354,611|$5,808,561|\n", + "The 2016 Facility and Roper\u2019s $3.9 billion senior notes provide substantially all of Roper\u2019s daily external financing require\u0002ments.", + "The interest rate on the borrowings under the 2016 Facility is calculated based upon various recognized indices plus a margin as defined in the credit agreement.", + "At December 31, 2017, Roper\u2019s fixed debt consisted of $3.9 billion of senior notes, $3.1 million of other debt in the form of capital leases, several smaller facilities that allow for borrowings or the issuance of letters of credit in foreign locations to support Roper\u2019s non-U.", + "S. businesses and $75.9 million of outstanding letters of credit at December 31, 2017.", + "Future maturities of total debt during each of the next five years ending December 31 and thereafter were as follows", + "|2018|$801,503|\n|2019|501,061|\n|2020|600,529|\n|2021|1,770,047|\n|2022|500,009|\n|Thereafter|1,000,000|\n|Total|$5,173,149|\n", + "(9) FAIR VALUE Roper\u2019s debt at December 31, 2017 included $3.9 billion of fixed-rate senior notes with the following fair values (in millions):" + ], + "question_id": "simplong-test-395", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Notebooks/Mobile Devices in the years where Netcomm Products is greater than 1400? (in millions)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "ended December 31, 2015 and 2014, respectively.", + "The increase in cash provided by accounts payable-inventory financing was primarily due to a new vendor added to our previously existing inventory financing agreement.", + "For a description of the inventory financing transactions impacting each period, see Note 6 (Inventory Financing Agreements) to the accompanying Consolidated Financial Statements.", + "For a description of the debt transactions impacting each period, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "Net cash used in financing activities decreased $56.3 million in 2014 compared to 2013.", + "The decrease was primarily driven by several debt refinancing transactions during each period and our July 2013 IPO, which generated net proceeds of $424.7 million after deducting underwriting discounts, expenses and transaction costs.", + "The net impact of our debt transactions resulted in cash outflows of $145.9 million and $518.3 million during 2014 and 2013, respectively, as cash was used in each period to reduce our total long-term debt.", + "For a description of the debt transactions impacting each period, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "Long-Term Debt and Financing Arrangements As of December 31, 2015, we had total indebtedness of $3.3 billion, of which $1.6 billion was secured indebtedness.", + "At December 31, 2015, we were in compliance with the covenants under our various credit agreements and indentures.", + "The amount of CDW\u2019s restricted payment capacity under the Senior Secured Term Loan Facility was $679.7 million at December 31, 2015.", + "For further details regarding our debt and each of the transactions described below, see Note 8 (Long-Term Debt) to the accompanying Consolidated Financial Statements.", + "During the year ended December 31, 2015, the following events occurred with respect to our debt structure: ?", + "On August 1, 2015, we consolidated Kelway\u2019s Term Loan and Kelway\u2019s Revolving Credit Facility.", + "Kelway\u2019s Term Loan is denominated in British Pounds.", + "The Kelway Revolving Credit Facility is a multi-currency revolving credit facility under which Kelway is permitted to borrow an aggregate amount of \uffe150.0 million ($73.7 million) as of December 31, 2015. ?", + "On March 3, 2015, we completed the issuance of $525.0 million principal amount of 5.0% Senior Notes due 2023 which will mature on September 1, 2023. ?", + "On March 3, 2015, we redeemed the remaining $503.9 million aggregate principal amount of the 8.5% Senior Notes due 2019, plus accrued and unpaid interest through the date of redemption, April 2, 2015.", + "Inventory Financing Agreements We have entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions.", + "These amounts are classified separately as accounts payable-inventory financing on the Consolidated Balance Sheets.", + "We do not incur any interest expense associated with these agreements as balances are paid when they are due.", + "For further details, see Note 6 (Inventory Financing Agreements) to the accompanying Consolidated Financial Statements.", + "Contractual Obligations We have future obligations under various contracts relating to debt and interest payments, operating leases and asset retirement obligations.", + "Our estimated future payments, based on undiscounted amounts, under contractual obligations that existed as of December 31, 2015, are as follows:", + "||Payments Due by Period|\n|(in millions)|Total|< 1 year|1-3 years|4-5 years|> 5 years|\n|Term Loan-1|$1,703.4|$63.9|$126.3|$1,513.2|$\u2014|\n|Kelway Term Loan-1|90.9|13.5|77.4|\u2014|\u2014|\n|Senior Notes due 2022-2|852.0|36.0|72.0|72.0|672.0|\n|Senior Notes due 2023-2|735.1|26.3|52.5|52.5|603.8|\n|Senior Notes due 2024-2|859.7|31.6|63.3|63.3|701.5|\n|Operating leases-3|143.2|22.5|41.7|37.1|41.9|\n|Asset retirement obligations-4|1.8|0.8|0.5|0.3|0.2|\n|Total|$4,386.1|$194.6|$433.7|$1,738.4|$2,019.4|\n", + "ES TO CONSOLIDATED FINANCIAL STATEMENTS 90 Selected Segment Financial Information Information regarding the Company\u2019s segments for the years ended December 31, 2015, 2014 and 2013 is as follows:", + "|(in millions)|Corporate|Public|Other|Headquarters|Total|\n|2015:||||||\n|Net sales|$6,816.4|$5,125.5|$1,046.8|$\u2014|$12,988.7|\n|Income (loss) from operations|470.1|343.3|43.1|-114.5|742.0|\n|Depreciation and amortization expense|-96.0|-43.7|-24.4|-63.3|-227.4|\n|2014:||||||\n|Net sales|$6,475.5|$4,879.4|$719.6|$\u2014|$12,074.5|\n|Income (loss) from operations|439.8|313.2|32.9|-112.9|673.0|\n|Depreciation and amortization expense|-96.3|-43.8|-8.8|-59.0|-207.9|\n|2013:||||||\n|Net sales|$5,960.1|$4,164.5|$644.0|$\u2014|$10,768.6|\n|Income (loss) from operations(1)|363.3|246.5|27.2|-128.4|508.6|\n|Depreciation and amortization expense|-97.3|-44.0|-8.6|-58.3|-208.2|\n", + "(1) Includes $75.0 million of IPO- and secondary-offering related expenses, as follows: Corporate $26.4 million; Public $14.4 million; Other $3.6 million; and Headquarters $30.6 million.", + "For additional information relating to the IPO- and secondary-offering, see Note 10 (Stockholders\u2019 Equity).", + "Geographic Areas and Revenue Mix The Company does not have Net sales to customers outside of the U. S. exceeding 10% of the Company\u2019s total Net sales in 2015, 2014 and 2013.", + "The Company does not have long-lived assets located outside of the U. S. exceeding 10% of the Company\u2019s total long-lived assets as of December 31, 2015 and 2014, respectively.", + "The following table presents net sales by major category for the years ended December 31, 2015, 2014 and 2013.", + "Categories are based upon internal classifications.", + "Amounts for the years ended December 31, 2014 and 2013 have been reclassified for certain changes in individual product classifications to conform to the presentation for the year ended December 31, 2015.", + "||Year EndedDecember 31, 2015|Year EndedDecember 31, 2014|Year EndedDecember 31, 2013|\n||Dollars inMillions|Percentageof Total NetSales|Dollars inMillions|Percentageof Total NetSales|Dollars inMillions|Percentageof Total NetSales|\n|Notebooks/Mobile Devices|$2,539.4|19.6%|$2,354.0|19.5%|$1,696.5|15.8%|\n|Netcomm Products|1,914.9|14.7|1,613.3|13.4|1,482.7|13.8|\n|Enterprise and Data Storage (Including Drives)|1,065.2|8.2|1,024.2|8.5|999.3|9.3|\n|Other Hardware|4,756.4|36.6|4,551.1|37.6|4,184.1|38.8|\n|Software|2,163.6|16.7|2,064.1|17.1|1,982.4|18.4|\n|Services|478.0|3.7|371.9|3.1|332.7|3.1|\n|Other-1|71.2|0.5|95.9|0.8|90.9|0.8|\n|Total Net sales|$12,988.7|100.0%|$12,074.5|100.0%|$10,768.6|100.0%|\n", + "(1) Includes items such as delivery charges to customers and certain commission revenue.17.", + "Supplemental Guarantor Information The 2022 Senior Notes, the 2023 Senior Notes and the 2024 Senior Notes are, and, prior to being redeemed in full, the 2019 Senior Notes, the 12.535% Senior Subordinated Exchange Notes due 2017, and the 8.0% Senior Secured Notes due 2018 were guaranteed by Parent and each of CDW LLC\u2019s direct and indirect, 100% owned, domestic subsidiaries", + "PART II Item 5.", + "Market for Registrant\u2019s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Our common stock has been listed on the Nasdaq Global Select Market since June 27, 2013 under the symbol \u201cCDW.", + "\u201d The following table sets forth the ranges of high and low sales prices per share of our common stock as reported on the Nasdaq Global Select Market and the cash dividends per share of common stock declared for the two most recent fiscal years." + ], + "question_id": "simplong-test-396", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of the Net investment income and Total revenue in the sections where Required interest on net reserves is positive?", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Dollar amounts in thousands except per share data) Note 14\u2014Business Segments (continued) The measure of profitability for the Investment segment is excess investment income, which represents the income earned on the investment portfolio in excess of net policy requirements and financing costs associated with Torchmark\u2019s debt.", + "Other than the above-mentioned interest allocations and an intersegment commission, there are no other intersegment revenues or expenses.", + "Expenses directly attributable to corporate operations are included in the \u201cCorporate\u201d category.", + "Stock-based compensation expense is considered a corporate expense by Torchmark management and is included in this category.", + "All other unallocated revenues and expenses on a pretax basis, including insurance administrative expense, are included in the \u201cOther\u201d segment category.", + "The following tables set forth a reconciliation of Torchmark\u2019s revenues and operations by segment to its major income statement line items.", + "||For the Year 2011|\n||Life|Health|Annuity|Investment|Other|Corporate| Adjustments|Consolidated|\n|Revenue:|||||||||\n|Premium|$1,726,244|$930,493|$608||||$-1,027 (1)|$2,656,318|\n|Net investment income||||$707,041|||-14,013 ( 2,5)|693,028|\n|Other income|||||$2,507||-356 (4)|2,151|\n|Total revenue|1,726,244|930,493|608|707,041|2,507||-15,396|3,351,497|\n|Expenses:|||||||||\n|Policy benefits|1,118,909|632,847|42,547||||-1,027 (1)|1,793,276|\n|Required interest on net reserves|-458,029|-36,729|-57,040|551,798||||0|\n|Amortization of acquisition costs|503,649|123,442|12,688|-214,998||||424,781|\n|Commissions and premium tax|75,480|48,942|68||||-356 (4)|124,134|\n|Insurance administrative expense-3|||||159,109||19,880-6,7,8|178,989|\n|Parent expense||||||$7,693||7,693|\n|Stock-based compensation expense||||||14,954||14,954|\n|Interest expense||||77,644|||264-2|77,908|\n|Total expenses|1,240,009|768,502|-1,737|414,444|159,109|22,647|18,761|2,621,735|\n|Sub total|486,235|161,991|2,345|292,597|-156,602|-22,647|-34,157|729,762|\n|Non operating items|||||||19,880-6,7,8|19,880|\n|Amortization of low-income housing interests|||||||14,277-5|14,277|\n|Measure of segment profitability (pretax)|$486,235|$161,991|$2,345|$292,597|$-156,602|$-22,647|$0|763,919|\n|Deduct applicable income taxes|-249,495|\n|Segment profits after tax|514,424|\n|Add back income taxes applicable to segment profitability|249,495|\n|Add (deduct) realized investment gains (losses)|25,904|\n|Deduct amortization of low-incomehousing -5|-14,277|\n|Deduct state administrative settlementexpense -6|-6,901|\n|Deduct loss on sale of equipment -7|-979|\n|Deduct litigation expense -8|-12,000|\n|Pretax income per Consolidated Statement of Operations|$755,666|\n", + "(1) Medicare Part D items adjusted to GAAP from the segment analysis, which matches expected benefits with policy premium.", + "(2) Reclassification of interest amount due to accounting rule requiring deconsolidation of Trust Preferred Securities.", + "(3) Administrative expense is not allocated to insurance segments.", + "(4) Elimination of intersegment commission.", + "(5) Amortization of low-income housing interests.", + "(6) State administrative settlement expense.", + "(7) Loss on sale of equipment.", + "(8) Litigation expense.", + "a $197 million, or a 40%, net increase in non-comparable store sales on a constant currency basis, primarily driven by new store openings within the past twelve months, including store openings in Asia, new stores and concession shops assumed in connection with the Australia and New Zealand Licensed Operations Acquisition, other new global store openings, and the expansion of our e-commerce operations, which more than offset the impact of store closings, including those closed in connection with the Rugby Closure Plan.", + "These increases were partially offset by: ?", + "a $53 million net decrease in revenues due to unfavorable foreign currency effects, comprised of unfavorable effects of $43 million and $10 million related to our comparable and non-comparable store sales, respectively.", + "The unfavorable currency effects primarily related to the weakening of the Japanese Yen, partially offset by the strengthening of the Euro against the U. S. Dollar during Fiscal 2014 compared to the prior fiscal year.", + "Our global average store count increased by 47 stores and concession shops during Fiscal 2014 compared with the prior fiscal year, primarily due to new store and concession shop openings in Asia and Europe, and stores and concession shops assumed in connection with the Australia and New Zealand Licensed Operations Acquisition, partially offset by store closures, including those associated with the Rugby Closure Plan.", + "The following table details our retail store and e-commerce presence as of the periods presented:", + "||March 29,2014|March 30,2013|\n|Stores:|||\n|Freestanding stores|433|388|\n|Concession shops|503|494|\n|Total stores|936|882|\n|E-commerce Sites:|||\n|North American sites(a)|3|3|\n|European sites(b)|3|3|\n|Asian sites(c)|2|1|\n|Total e-commerce sites|8|7|\n", + "(a) Includes www.", + "RalphLauren.", + "com, www.", + "ClubMonaco.", + "com, and www.", + "ClubMonaco.", + "ca, which collectively service the U. S. and Canada.", + "(b) Includes www.", + "RalphLauren.", + "co. uk (servicing the United Kingdom), www.", + "RalphLauren.", + "fr (servicing Belgium, France, Italy, Luxembourg, the Netherlands, Portugal, and Spain), and www.", + "RalphLauren.", + "de (servicing Germany and Austria).", + "(c) Includes www.", + "RalphLauren.", + "co. jp, which services Japan and, as of March 29, 2014, our new e-commerce site at www.", + "RalphLauren.", + "co. kr, which services South Korea.", + "Licensing revenues \u2014 The $16 million net decrease in revenues primarily reflects the transition of certain licensing arrangements, including the Chaps Menswear Business and the Australia and New Zealand Business, to wholly-owned operations and the discontinuance of certain Home licensing arrangements, partially offset by higher apparel and fragrance-related royalties.", + "Gross Profit.", + "Gross profit increased by $154 million, or 3.7%, to $4.310 billion in Fiscal 2014 from $4.156 billion in Fiscal 2013.", + "Gross profit as a percentage of net revenues decreased by 190 basis points to 57.9% in Fiscal 2014 from 59.8% in Fiscal 2013.", + "The gross margin decline was primarily attributable to the inclusion of the Chaps Menswear Business and the unfavorable effects of foreign currency.", + "Gross profit as a percentage of net revenues is dependent upon a variety of factors, including changes in the relative sales mix among distribution channels, changes in the mix of products sold, the timing and level of promotional activities, foreign currency exchange rates, and fluctuations in material costs.", + "These factors, among others, may cause gross profit as a percentage of net revenues to fluctuate from year to year.", + "Selling, General, and Administrative Expenses.", + "SG&A expenses increased by $171 million, or 5.7%, to $3.142 billion in Fiscal 2014 from $2.971 billion in Fiscal 2013.", + "This increase included a net favorable foreign currency effect of approximately", + "The following table provides a reconciliation of the total amounts of unrecognized tax benefits (in millions):", + "||2019|2018|2017|\n|Balance at beginning of year|$456|$409|$269|\n|Gross increases related to tax positions in a prior period|33|123|151|\n|Gross decreases related to tax positions in a prior period|-53|-15|-36|\n|Gross increases related to tax positions in the current period|26|29|33|\n|Settlements with taxing authorities|-2|-87|-2|\n|Currency|\u2014|\u2014|-1|\n|Lapse of statute of limitations|-5|-3|-5|\n|Balance at end of year|$455|$456|$409|\n", + "At August 31, 2019, 2018 and 2017, $311 million, $331 million and $286 million, respectively, of unrecognized tax benefits would favorably impact the effective tax rate if recognized.", + "During the next twelve months, based on current knowledge, it is reasonably possible the amount of unrecognized tax benefits could decrease by up to $16 million due to anticipated tax audit settlements and the expirations of statutes of limitations associated with tax positions related to multiple tax jurisdictions.", + "The Company recognizes interest and penalties in the income tax provision in its Consolidated Statements of Earnings.", + "At August 31, 2019 and August 31, 2018, the Company had accrued interest and penalties of $47 million and $87 million, respectively.", + "For the year ended August 31, 2019, the amount reported in income tax expense related to interest and penalties was $40 million income tax benefit.", + "The Company files a consolidated U. S. federal income tax return as well as income tax returns in various states and multiple foreign jurisdictions.", + "It is generally no longer under audit examinations for U. S. federal income tax purposes for any years prior to fiscal 2014.", + "With few exceptions, it is no longer subject to state and local income tax examinations by tax authorities for years before fiscal 2007.", + "In foreign tax jurisdictions, the Company is generally no longer subject to examination by the tax authorities in the United Kingdom prior to 2015, Luxembourg prior to 2013, in Germany prior to 2014, in France prior to 2008 and in Turkey prior to 2014.", + "The Company has received tax holidays from Swiss cantonal income taxes relative to certain of its Swiss operations.", + "The income tax holidays are expected to extend through September 2022.", + "The holidays had a beneficial impact of $127 million and $127 million (inclusive of capital GILTI tax cost) during fiscal 2019 and 2018, respectively.", + "This benefit is primarily included as part of the foreign income taxed at non-U.", + "S. rates line in the effective tax rate reconciliation table above.", + "At August 31, 2019, it is not practicable for the Company to determine the amount of the unrecognized deferred tax liability it has with respect to temporary differences related to investments in foreign subsidiaries and foreign corporate joint ventures that are essentially permanent in duration.", + "Note 12.", + "Stock compensation plans The Walgreens Boots Alliance, Inc. 2013 Omnibus Incentive Plan (the \u201cOmnibus Plan\u201d), which became effective in fiscal 2013, provides for incentive compensation to the Company\u2019s non-employee directors, officers and employees and consolidates several previously existing equity compensation plans into a single plan.", + "The Company grants stock options, performance shares and restricted units under the Omnibus Plan.", + "Performance shares issued under the Omnibus Plan offer performance-based incentive awards and equity-based awards to key employees.", + "The fair value of each performance share granted assumes that performance goals will be achieved at 100 percent.", + "If such goals are not met, no compensation expense is recognized and any recognized compensation expense is reversed.", + "Restricted stock units are also equity-based awards with performance" + ], + "question_id": "simplong-test-397", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Interest rate and Foreign exchange in 2005 for Notional amounts(a? (in billion)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "Management\u2019s discussion and analysis JPMorgan Chase & Co The following table summarizes the aggregate notional amounts and the reported derivative receivables (i. e. , the MTM or fair value of the derivative contracts after taking into account the effects of legally enforceable master netting agreements) at each of the dates indicated: Notional amounts and derivative receivables marked to market (\u201cMTM\u201d)", + "|As of December 31,|Notional amounts(a)|Derivative receivables MTM|\n|(in billions)| 2005|2004|2005|2004|\n|Interest rate|$38,493|$37,022|$30|$46|\n|Foreign exchange|2,136|1,886|3|8|\n|Equity|458|434|6|6|\n|Credit derivatives|2,241|1,071|4|3|\n|Commodity|265|101|7|3|\n|Total|$43,593|$40,514|50|66|\n|Collateral held againstderivative receivables| NA|NA|-6|-9|\n|Exposure net of collateral| NA|NA|$44(b)|$57(c)|\n", + "(a) The notional amounts represent the gross sum of long and short third-party notional derivative contracts, excluding written options and foreign exchange spot contracts, which significantly exceed the possible credit losses that could arise from such transactions.", + "For most derivative transactions, the notional principal amount does not change hands; it is used simply as a reference to calculate payments.", + "(b) The Firm held $33 billion of collateral against derivative receivables as of December 31, 2005, consisting of $27 billion in net cash received under credit support annexes to legally enforceable master netting agreements, and $6 billion of other liquid securities collateral.", + "The benefit of the $27 billion is reflected within the $50 billion of derivative receivables MTM.", + "Excluded from the $33 billion of collateral is $10 billion of collateral delivered by clients at the initiation of transactions; this collateral secures exposure that could arise in the derivatives portfolio should the MTM of the client\u2019s transactions move in the Firm\u2019s favor.", + "Also excluded are credit enhancements in the form of letters of credit and surety receivables.", + "(c) The Firm held $41 billion of collateral against derivative receivables as of December 31, 2004, consisting of $32 billion in net cash received under credit support annexes to legally enforceable master netting agreements, and $9 billion of other liquid securities collateral.", + "The benefit of the $32 billion is reflected within the $66 billion of derivative receivables MTM.", + "Excluded from the $41 billion of collateral is $10 billion of collateral delivered by clients at the initiation of transactions; this collateral secures exposure that could arise in the derivatives portfolio should the MTM of the client\u2019s transactions move in the Firm\u2019s favor.", + "Also excluded are credit enhancements in the form of letters of credit and surety receivables.", + "The MTM of derivative receivables contracts represents the cost to replace the contracts at current market rates should the counterparty default.", + "When JPMorgan Chase has more than one transaction outstanding with a counter\u0002party, and a legally enforceable master netting agreement exists with that counterparty, the netted MTM exposure, less collateral held, represents, in the Firm\u2019s view, the appropriate measure of current credit risk.", + "While useful as a current view of credit exposure, the net MTM 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 (\u201cDRE\u201d) and Average exposure (\u201cAVG\u201d).", + "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% confidence level.", + "However, the total potential future credit risk embedded in the Firm\u2019s derivatives portfolio is not the simple sum of all Peak client credit risks.", + "This is because, at the portfolio level, credit risk is reduced by the fact that when offsetting transactions are done with separate counter\u0002parties, only one of the two trades can generate a credit loss, even if both counterparties were to default simultaneously.", + "The Firm refers to this effect as market diversification, and the Market-Diversified Peak (\u201cMDP\u201d) measure is a portfolio aggregation of counterparty Peak measures, representing the maximum losses at the 97.5% confidence level that would occur if all coun\u0002terparties defaulted under any one given market scenario and time frame.", + "Derivative Risk Equivalent (\u201cDRE\u201d) exposure is a measure that expresses the riskiness of derivative exposure on a basis intended to be equivalent to the riskiness 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, Average exposure (\u201cAVG\u201d) is a measure of the expected MTM value of the Firm\u2019s 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 Credit Valuation Adjustment (\u201cCVA\u201d), as further described below.", + "Average exposure was $36 billion and $38 billion at December 31, 2005 and 2004, respectively, compared with derivative receivables MTM net of other highly liquid collateral of $44 billion and $57 billion at December 31, 2005 and 2004, respectively.", + "The graph below shows exposure profiles to derivatives over the next 10 years as calculated by the MDP, DRE and AVG metrics.", + "All three measures generally show declining exposure after the first year, if no new trades were added to the portfolio.", + "Notes to consolidated financial statements 210 JPMorgan Chase & Co. /2010 Annual Report Estimated future benefit payments The following table presents benefit payments expected to be paid, which include the effect of expected future service, for the years indicated.", + "The OPEB medical and life insurance payments are net of expected retiree contributions.", + "|Year ended December 31,|U.S. defined benefit pension plans|Non-U.S. defined benefit pension plans|OPEB before Medicare Part D subsidy|Medicare Part D subsidy|\n|(in millions)|\n|2011|$1,001|$84|$99|$10|\n|2012|1,011|92|97|11|\n|2013|587|98|95|12|\n|2014|593|102|94|13|\n|2015|592|111|92|14|\n|Years 2016\u20142020|3,013|640|418|78|\n", + "Note 10 \u2013 Employee stock-based incentives Employee stock-based awards In 2010, 2009, and 2008, JPMorgan Chase granted long-term stock-based awards to certain key employees under the 2005 Long\u0002Term Incentive Plan (the \u201c2005 Plan\u201d).", + "The 2005 Plan became effective on May 17, 2005, and was amended in May 2008.", + "Under the terms of the amended 2005 plan, as of December 31, 2010, 113 million shares of common stock are available for issuance through May 2013.", + "The amended 2005 Plan is the only active plan under which the Firm is currently granting stock-based incentive awards.", + "In the following discussion, the 2005 Plan, plus prior Firm plans and plans assumed as the result of acquisitions, are referred to collectively as the \u201cLTI Plans,\u201d and such plans constitute the Firm\u2019s stock-based incentive plans.", + "Restricted stock units (\u201cRSUs\u201d) are awarded at no cost to the recipi\u0002ent upon their grant.", + "RSUs are generally granted annually and gener\u0002ally vest at a rate of 50% after two years and 50% after three years and convert into shares of common stock at the vesting date.", + "In addition, RSUs typically include full-career eligibility provisions, which allow employees to continue to vest upon voluntary termination, subject to post-employment and other restrictions based on age or service-related requirements.", + "All of these awards are subject to forfeiture until vested.", + "An RSU entitles the recipient to receive cash payments equivalent to any dividends paid on the underlying com\u0002mon stock during the period the RSU is outstanding and, as such, are considered participating securities as discussed in Note 25 on page 269 of this Annual Report.", + "Under the LTI Plans, stock options and stock appreciation rights (\u201cSARs\u201d) have generally been granted with an exercise price equal to the fair value of JPMorgan Chase\u2019s common stock on the grant date.", + "The Firm typically awards SARs to certain key employees once per year, and it also periodically grants discretionary stock-based incentive awards to individual employees, primarily in the form of both employee stock options and SARs.", + "The 2010, 2009 and 2008 grants of SARs to key employees vest ratably over five years (i. e. , 20% per year).", + "The 2010 grants of SARs contain full-career eligibil\u0002ity provisions; the 2009 and 2008 grants of SARs do not include any full-career eligibility provisions.", + "SARs generally expire 10 years after the grant date.", + "The Firm separately recognizes compensation expense for each tranche of each award as if it were a separate award with its own vesting date.", + "Generally, for each tranche granted, compensation expense is recognized on a straight-line basis from the grant date until the vesting date of the respective tranche, provided that the employees will not become full-career eligible during the vesting period.", + "For awards with full-career eligibility provisions and awards granted with no future substantive service requirement, the Firm accrues the estimated value of awards expected to be awarded to employees as of the grant date without giving consideration to the impact of post-employment restrictions.", + "For each tranche granted to employees who will become full-career eligible during the vest\u0002ing period, compensation expense is recognized on a straight-line basis from the grant date until the earlier of the employee\u2019s full\u0002career eligibility date or the vesting date of the respective tranche.", + "The Firm\u2019s policy for issuing shares upon settlement of employee stock-based incentive awards is to issue either new shares of com\u0002mon stock or treasury shares.", + "During 2010, 2009 and 2008, the Firm settled all of its employee stock-based awards by issuing treasury shares.", + "In January 2008, the Firm awarded to its Chairman and Chief Executive Officer up to 2 million SARs.", + "The terms of this award are distinct from, and more restrictive than, other equity grants regularly awarded by the Firm.", + "The SARs, which have a 10-year term, will become exercisable no earlier than January 22, 2013, and have an exercise price of $39.83.", + "The number of SARs that will become exercisable (ranging from none to the full 2 million) and their exercise date or dates may be determined by the Board of Directors based on an annual assessment of the performance of both the CEO and JPMorgan Chase.", + "The Firm recognizes this award ratably over an assumed five-year service period, subject to a requirement to recognize changes in the fair value of the award through the grant date.", + "The Firm recognized $4 million, $9 million and $1 million in compensation expense in 2010, 2009 and 2008, respectively, for this award.", + "Other-than-temporary impairment The following table presents credit losses that are included in the securities gains and losses table above.", + "|Year ended December 31, (in millions)|2010|2009|\n| Debt securities the Firm does not intend tosell that have credit losses|||\n|Total other-than-temporary impairmentlosses(a)|$-94|$-946|\n|Losses recorded in/(reclassified from)other comprehensive income|-6|368|\n| Credit losses recognized in income(b)(c)|$-100|$-578|\n", + "a) For initial OTTI, represents the excess of the amortized cost over the fair value of AFS debt securities.", + "For subsequent OTTI of the same security, represents addi\u0002tional declines in fair value subsequent to the previously recorded OTTI, if appli\u0002cable.", + "(b) Represents the credit loss component of certain prime mortgage-backed securities and obligations of U. S. states and municipalities for 2010, and cer\u0002tain prime and subprime mortgage-backed securities and obligations of U. S. states and municipalities for 2009 that the Firm does not intend to sell.", + "Sub\u0002sequent credit losses may be recorded on securities without a corresponding further decline in fair value if there has been a decline in expected cash flows.", + "(c) Excluded from this table are OTTI losses of $7 million that were recognized in income in 2009, related to subprime mortgage-backed debt securities the Firm in\u0002tended to sell.", + "These securities were sold in 2009, resulting in the recognition of a recovery of $1 million.", + "Changes in the credit loss component of credit-impaired debt securities The following table presents a rollforward for the years ended December 31, 2010 and 2009, of the credit loss component of OTTI losses that were recognized in income related to debt securi\u0002ties that the Firm does not intend to sell.", + "|Year ended December 31, (in millions)|2010|2009|\n|Balance, beginning of period|$578|$\u2014|\n|Additions:|||\n|Newly credit-impaired securities|\u2014|578|\n|Increase in losses on previously credit-impairedsecurities|94|\u2014|\n|Losses reclassified from other comprehensiveincome on previously credit-impaired securities|6|\u2014|\n|Reductions:|||\n|Sales of credit-impaired securities|-31|\u2014|\n|Impact of new accounting guidance relatedto VIEs|-15|\u2014|\n| Balance, end of period|$632|$578|\n", + "Gross unrealized losses Gross unrealized losses have generally decreased since December 31, 2009, due primarily to market spread improvement and increased liquidity, driving asset prices higher.", + "However, gross unrealized losses on certain securities have increased, including on certain corporate debt securities, which are primarily government-guaranteed positions that experienced credit spread widening.", + "As of December 31, 2010, the Firm does not intend to sell the securities with a loss position in AOCI, and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis.", + "Except for the securities reported in the table above for which credit losses have been recognized in income, the Firm believes that the securities with an unrealized loss in AOCI are not other-than-temporarily impaired as of December 31, 2010.", + "Following is a description of the Firm\u2019s principal security invest\u0002ments with the most significant unrealized losses as of December 31, 2010, and the key assumptions used in the Firm\u2019s estimate of the present value of the cash flows most likely to be collected from these investments.", + "Mortgage-backed securities \u2013 Prime and Alt-A nonagency As of December 31, 2010, gross unrealized losses related to prime and Alt-A residential mortgage-backed securities issued by private issuers were $250 million, all of which have been in an unrealized loss position for 12 months or more.", + "Approximately 70% of the total portfolio (by amortized cost) are currently rated below invest\u0002ment-grade; the Firm has recorded other-than-temporary impair\u0002ment losses on 55% of the below investment-grade positions.", + "In analyzing prime and Alt-A residential mortgage-backed securities for potential credit losses, the Firm utilizes a methodology that focuses on loan-level detail to estimate future cash flows, which are then allocated to the various tranches of the securities.", + "The loan\u0002level analysis primarily considers current home value, loan-to-value (\u201cLTV\u201d) ratio, loan type and geographical location of the underlying property to forecast prepayment, home price, default rate and loss severity.", + "The forecasted weighted average underlying default rate on the positions was 21% and the related weighted average loss severity was 50%.", + "Based on this analysis, an OTTI loss of $6 million was recognized in 2010 related to securities that experienced increased delinquency rates associated with specific collateral types and origination dates.", + "Overall losses have decreased since Decem\u0002ber 31, 2009, with the recovery in security prices resulting from increased demand for higher-yielding asset classes and a decelera\u0002tion in the pace of home price declines due in part to the U. S. government programs to facilitate financing and to spur home purchases.", + "The unrealized loss of $250 million is considered tempo\u0002rary, based on management\u2019s assessment that the estimated future cash flows together with the credit enhancement levels for those securities remain sufficient to support the Firm\u2019s investment.", + "The credit enhancements associated with the below investment-grade and investment-grade positions are 9% and 24%, respectively.", + "Asset-backed securities \u2013 Collateralized loan obligations As of December 31, 2010, gross unrealized losses related to CLOs were $210 million, of which $200 million related to securities that were in an unrealized loss position for 12 months or more.", + "Overall losses have decreased since December 31, 2009, mainly as a result of lower default forecasts and spread tightening across various asset classes.", + "Substantially all of these securities are rated \u201cAAA,\u201d \u201cAA\u201d and \u201cA\u201d and have an average credit enhancement of 30%.", + "Credit enhancement in CLOs is primarily in the form of subordina\u0002tion, which is a form of structural credit enhancement where real\u0002ized losses associated with assets held by an issuing vehicle are allocated to issued tranches considering their relative seniority.", + "The key assumptions considered in analyzing potential credit losses were underlying loan and debt security defaults and loss severity.", + "Based on current default trends, the Firm assumed collateral default rates of 2.1% for 2010 and 5% thereafter.", + "Further, loss severities were assumed to be 48% for loans and 78% for debt securities.", + "Losses on collateral were estimated to occur approximately 18 months after default.", + "Pledged assets At December 31, 2010, assets were pledged to collateralize repur\u0002chase agreements, other securities financing agreements, derivative transactions and for other purposes, including to secure borrowings and public deposits.", + "Certain of these pledged assets may be sold or repledged by the secured parties and are identified as financial instruments owned (pledged to various parties) on the Consoli\u0002dated Balance Sheets.", + "In addition, at December 31, 2010 and 2009, the Firm had pledged $288.7 billion and $344.6 billion, respectively, of financial instruments it owns that may not be sold or repledged by the secured parties.", + "The significant components of the Firm\u2019s pledged assets were as follows." + ], + "question_id": "simplong-test-398", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + }, + { + "question": "What is the sum of Total Deliveries In Franchise Area in 2010 ? (in million)", + "python_solution": "", + "ground_truth": 0, + "paragraphs": [ + "requirements relating to the Act.", + "The Companies\u2019 actuaries have determined that each prescription drug plan provides a benefit that is at least actuarially equivalent to the Medicare prescription drug plan and projections indicate that this will be the case for 20 years; therefore, the Companies are eligible to receive the benefit.", + "When the plans\u2019 benefits are no longer actuarially equivalent to the Medicare plan, 25% of the retirees in each plan are assumed to begin to decline participation in the Companies\u2019 prescription programs.", + "To reflect the effect of the Act on the plans, the accumulated postretirement benefit obligations were reduced for Con Edison, Con Edison of New York and O&R by $160 million, $139 million and $21 million, respectively, as of December 31, 2004.", + "The 2004 postretirement benefit costs were reduced by $29 million for Con Edison, $26 million for Con Edison of New York and $3 million for O&R.", + "The Companies will recognize the 28% subsidy (reflected as an unrecognized net gain to each plan) as an offset to plan costs.", + "The 28% subsidy is expected to reduce prescription drug plan costs by about 25% starting in 2006.", + "Note G \u2013 Environmental Matters Superfund Sites Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.", + "The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which includes costs of demolition, removal, disposal, storage, replacement, containment and monitoring) and environmental damages.", + "Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred.", + "The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas sites, are referred to herein as \u201cSuperfund Sites.", + "\u201d For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to discharge their related obligations.", + "For Superfund Sites (including the manufactured gas sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites in light of the information available, applicable remediation standards and experience with similar sites.", + "For the year ended December 31, 2004, Con Edison of New York and O&R incurred approximately $44 million and $3 million, respectively, for environmental remediation costs.", + "Insurance recoveries of $36 million were received by Con Edison of New York, $35 million of which reduced related regulatory assets, with the remainder credited to expense.", + "For the year ended December 31, 2003, Con Edison of New York and O&R incurred approximately $21 million and $5 million, respectively, for environmental remediation costs.", + "No insurance recoveries were received.", + "For the year ended December 31, 2002, Con Edison of New York and O&R incurred approximately $22 million and $2 million, respectively, for environmental remediation costs, and O&R received insurance recoveries of $7 million.", + "The accrued liabilities and regulatory assets related to Superfund Sites for each of the Companies at December 31, 2004 and December 31, 2003 were as follows:", + "||Con Edison|Con Edison ofNew York|O&R|\n|(Millions of Dollars)|2004|2003|2004|2003|2004|2003|\n|Accrued Liabilities:|||||||\n|Manufactured gas plant sites|$148|$145|$92|$106|$56|$39|\n|Other Superfund Sites|50|48|49|47|1|1|\n|Total|$198|$193|$141|$153|$57|$40|\n|Regulatory assets|$165|$155|$106|$116|$59|$39|\n", + "Most of the accrued Superfund Site liability relates to Superfund Sites that have been investigated, in whole or in part.", + "As investigations progress on these and other sites, the Companies expect that additional liability will be accrued, the amount of which is not presently determinable but may be material.", + "The Utilities are permitted under their current rate agreements to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.", + "Con Edison of New York estimated in 2002 that for its manufactured gas sites, many of which had not been investigated, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range from approximately $65 million to $1.1 billion.", + "O&R estimated in 2004 that for its manufactured gas sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range from approximately $31 million to $87 million.", + "These", + "Gas Supply O&R and CECONY have combined their gas requirements and purchase contracts to meet those requirements into a single portfolio.", + "See \u201cCECONY \u2013 Gas Operations \u2013 Gas Supply\u201d above.", + "Competitive Energy Businesses Con Edison pursues competitive energy opportunities through three wholly-owned subsidiaries: Con Edison Solutions, Con Edison Energy and Con Edison Development.", + "These businesses include the sales and related hedging of electricity to wholesale and retail customers, sales of certain energy\u0002related products and services, and participation in energy infrastructure projects.", + "At December 31, 2010, Con Edison\u2019s equity investment in its competitive energy businesses was $337 million and their assets amounted to $807 million.", + "The competitive energy businesses are pursuing opportunities to invest in renewable generation and energy-related infrastructure projects.", + "Con Edison Solutions Con Edison Solutions primarily sells electricity to industrial, commercial and governmental customers in the northeastern United States and Texas.", + "It also sells electricity to residential and small commercial customers in the northeastern United States.", + "Con Edison Solutions does not sell electricity to the Utilities.", + "Con Edison Solutions sells electricity to customers who are provided delivery service by the Utilities.", + "It also provides energy efficiency services, procurement and management services to companies and governmental entities throughout most of the United States.", + "Con Edison Solutions was reported by KEMA, Inc. in September 2010 to be the 9th largest non-residential retail electricity provider in the United States.", + "Most of the company\u2019s electricity sales volumes are to industrial, large commercial and government customers.", + "The company also sells to two retail aggregation entities in Massachusetts and to individual residential and small commercial (mass market) customers in the northeastern United States.", + "At December 31, 2010, it served approximately 115,000 customers, not including approximately 165,000 served under the two aggregation agreements.", + "Con Edison Solutions sold 15,993 million kWhs of electricity in 2010, a 26 percent increase from 2009 volumes.", + "|| 2006| 2007| 2008| 2009| 2010|\n|Retail electric volumes sold (millions of kWhs)|10,633|12,209|10,749|12,723|15,993|\n|Number of retail customers accounts:(a)||||||\n|Industrial and large commercial|10,957|14,335|14,491|26,009|29,561|\n|Mass market|31,725|33,979|39,976|49,094|85,191|\n", + "(a) Excludes aggregation agreement customers Con Edison Solutions seeks to serve customers in utility service territories that encourage retail competition through transparent pricing, purchase of receivables programs or utility-sponsored customer acquisition programs.", + "The company currently sells electricity in the service territories of 43 utilities in the states of New York, Massachusetts, Connecticut, New Hampshire, Maine, New Jersey, Delaware, Maryland, Illinois, Pennsylvania and Texas, as well as the District of Columbia.", + "Total peak load at the end of 2010 was 5,300 MWs.", + "Approximately 34 percent of the sales volumes were in New York, 27 percent in New England, 31 percent in PJM and the remainder in Texas.", + "Con Edison Solutions offers the choice of green power to customers.", + "In 2010, it sold approximately 233 million kWhs of green power, ending the year with almost 24,000 customers.", + "Green power is a term used by electricity suppliers to describe electricity produced from renewable energy sources, including wind, hydro and solar.", + "Con Edison Solutions also provides energy-efficiency services to government and commercial customers.", + "The services include the design and installation of lighting retrofits, high\u0002efficiency heating, ventilating and air conditioning equipment and other energy saving technologies.", + "The company is compensated for their services based primarily on the increased energy efficiency of the installed equipment over a multi-year period.", + "Con Edison Solutions has won competitive solicitations for energy savings contracts with the Department of Energy and the Department of Defense, and a shared energy savings contract with the United States Postal Service.", + "Electric Sales and Deliveries O&R delivers electricity to its full-service customers who purchase electricity from the company.", + "The company also delivers electricity to its customers who purchase electricity from other suppliers through the company\u2019s energy choice program.", + "The company charges all customers in its service area for the delivery of electricity.", + "O&R generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.", + "It does not make any margin or profit on the electricity it sells.", + "O&R\u2019s New York electric revenues (which accounted for 77.2 percent of O&R\u2019s electric revenues in 2014) are subject to a revenue decoupling mechanism.", + "As a result, O&R\u2019s New York electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.", + "O&R\u2019s electric sales in New Jersey and Pennsylvania are not subject to a decoupling mechanism.", + "O&R\u2019s electric sales and deliveries for the last five years were:", + "|| Year Ended December 31,|\n||2010|2011| 2012| 2013| 2014|\n| Electric Energy Delivered (millions of kWhs)||||||\n|Total deliveries to O&R full service customers|3,498|3,029|2,691|2,555|2,429|\n|Delivery service for energy choice customers|2,330|2,760|3,040|3,166|3,240|\n| Total Deliveries In Franchise Area|5,828|5,789|5,731|5,721|5,669|\n| Electric Energy Delivered ($ in millions)||||||\n|Total deliveries to O&R full service customers|$570|$486|$405|$427|$455|\n|Delivery service for energy choice customers|132|157|178|192|207|\n|Other operating revenues|-10|-2|9|9|18|\n| Total Deliveries In Franchise Area|$692|$641|$592|$628|$680|\n| Average Revenue Per kWh Sold (Cents)||||||\n|Residential|18.3|18.0|16.7|18.1|20.3|\n|Commercial and Industrial|14.1|13.7|13.0|14.8|16.8|\n", + "For further discussion of the company\u2019s electric operating revenues and its electric results, see \u201cResults of Operations\u201d in Item 7.", + "For additional segment information, see Note N to the financial statements in Item 8.", + "Electric Peak Demand The electric peak demand in O&R\u2019s service area occurs during the summer air conditioning season.", + "The weather during the summer of 2014 was cooler than design conditions.", + "O&R\u2019s 2014 service area peak demand was 1,370 MW, which occurred on July 2, 2014.", + "The 2014 peak demand included an estimated 697 MW for O&R\u2019s full-service customers and 673 MW for customers participating in its electric energy choice program.", + "\u201cDesign weather\u201d for the electric system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes.", + "Since the NYISO can invoke demand reduction programs under specific circumstances, design conditions do not include these programs\u2019 potential impact.", + "However, the O&R forecasted peak demand at design conditions does include the impact of permanent demand reduction programs.", + "The company estimates that, under design weather conditions, the 2015 service area peak demand will be 1,645 MW, including an estimated 819 MW for its full\u0002service customers and 826 MW for its electric energy choice customers.", + "The company forecasts average annual growth of the peak electric demand in the company\u2019s service area over the next five years at design conditions to be approximately 0.9 percent per year.", + "Electric Supply The electricity O&R sold to its full-service customers in 2014 was purchased under firm power contracts or through the wholesale electricity markets administered by the NYISO and PJM.", + "The company expects that these resources will again be adequate to meet the requirements of its customers in 2015.", + "O&R does not own any electric generating capacity.", + "The company plans to meet its continuing obligation to supply electricity to its customers through a combination of electricity purchased under contracts or purchased through the NYISO or PJM\u2019s wholesale electricity market.", + "To reduce the volatility of its customers\u2019 electric energy costs, the company has contracts to purchase electric energy and enters into derivative transactions to hedge the costs of a portion of its expected purchases under these contracts and through the NYISO and PJM\u2019s wholesale electricity market.", + "For information about the company\u2019s contracts, see Note O to the financial statements in Item 8.", + "In general, the Utilities recover their purchased power costs, including the cost of hedging purchase prices, pursuant to rate provisions approved by the state public utility regulatory authority having jurisdiction.", + "See \u201cFinancial and Commodity Market Risks \u2013 Commodity Price Risk,\u201d in Item 7 and \u201cRecoverable Energy Costs\u201d in Note A to the financial statements in Item 8.", + "From time to time, certain parties have petitioned the NYSPSC to review these provisions, the elimination of which could have a material adverse effect on the Companies\u2019 financial position, results of operations or liquidity", + "During 2014, 2013 and 2012, Netherland, Sewell & Associates, Inc. (\"NSAI\") prepared a certification of the prior year's reserves for the Alba field in E. G. The NSAI summary reports are filed as an exhibit to this Annual Report on Form 10-K. Members of the NSAI team have multiple years of industry experience, having worked for large, international oil and gas companies before joining NSAI.", + "The senior technical advisor has over 35 years of practical experience in petroleum geosciences, with over 15 years experience in the estimation and evaluation of reserves.", + "The second team member has over 10 years of practical experience in petroleum engineering, with 5 years experience in the estimation and evaluation of reserves.", + "Both are registered Professional Engineers in the State of Texas.", + "Ryder Scott Company (\"Ryder Scott\") also performed audits of the prior years' reserves of several of our fields in 2014, 2013 and 2012.", + "Their summary reports are filed as exhibits to this Annual Report on Form 10-K.", + "The team lead for Ryder Scott has over 20 years of industry experience, having worked for a major international oil and gas company before joining Ryder Scott.", + "He is a member of SPE, where he served on the Oil and Gas Reserves Committee, and is a registered Professional Engineer in the State of Texas.", + "Changes in Proved Undeveloped Reserves As of December 31, 2014, 728 mmboe of proved undeveloped reserves were reported, an increase of 101 mmboe from December 31, 2013.", + "The following table shows changes in total proved undeveloped reserves for 2014:", + "|Beginning of year|627|\n|Revisions of previous estimates|1|\n|Improved recovery|1|\n|Purchases of reserves in place|4|\n|Extensions, discoveries, and other additions|227|\n|Dispositions|-29|\n|Transfers to proved developed|-103|\n|End of year|728|\n", + "Significant additions to proved undeveloped reserves during 2014 included 121 mmboe in the Eagle Ford and 61 mmboe in the Bakken shale plays due to development drilling.", + "Transfers from proved undeveloped to proved developed reserves included 67 mmboe in the Eagle Ford, 26 mmboe in the Bakken and 1 mmboe in the Oklahoma Resource Basins due to development drilling and completions.", + "Costs incurred in 2014, 2013 and 2012 relating to the development of proved undeveloped reserves, were $3,149 million, $2,536 million and $1,995 million.", + "A total of 102 mmboe was booked as extensions, discoveries or other additions due to the application of reliable technology.", + "Technologies included statistical analysis of production performance, decline curve analysis, pressure and rate transient analysis, reservoir simulation and volumetric analysis.", + "The statistical nature of production performance coupled with highly certain reservoir continuity or quality within the reliable technology areas and sufficient proved undeveloped locations establish the reasonable certainty criteria required for booking proved reserves.", + "Projects can remain in proved undeveloped reserves for extended periods in certain situations such as large development projects which take more than five years to complete, or the timing of when additional gas compression is needed.", + "Of the 728 mmboe of proved undeveloped reserves at December 31, 2014, 19 percent of the volume is associated with projects that have been included in proved reserves for more than five years.", + "The majority of this volume is related to a compression project in E. G. that was sanctioned by our Board of Directors in 2004.", + "The timing of the installation of compression is being driven by the reservoir performance with this project intended to maintain maximum production levels.", + "Performance of this field since the Board sanctioned the project has far exceeded expectations.", + "Estimates of initial dry gas in place increased by roughly 10 percent between 2004 and 2010.", + "During 2012, the compression project received the approval of the E. G. government, allowing design and planning work to progress towards implementation, with completion expected by mid-2016.", + "The other component of Alba proved undeveloped reserves is an infill well approved in 2013 and to be drilled in the second quarter of 2015.", + "Proved undeveloped reserves for the North Gialo development, located in the Libyan Sahara desert, were booked for the first time in 2010.", + "This development, which is anticipated to take more than five years to develop, is executed by the operator and encompasses a multi-year drilling program including the design, fabrication and installation of extensive liquid handling and gas recycling facilities.", + "Anecdotal evidence from similar development projects in the region lead to an expected project execution time frame of more than five years from the time the reserves were initially booked.", + "Interruptions associated with the civil unrest in 2011 and third-party labor strikes and civil unrest in 2013-2014 have also extended the project duration.", + "As of December 31, 2014, future development costs estimated to be required for the development of proved undeveloped crude oil and condensate, NGLs, natural gas and synthetic crude oil reserves related to continuing operations for the years 2015 through 2019 are projected to be $2,915 million, $2,598 million, $2,493 million, $2,669 million and $2,745 million." + ], + "question_id": "simplong-test-399", + "table_evidence": [], + "paragraph_evidence": [], + "source": "multihiertt", + "original_question_id": "" + } +] \ No newline at end of file