what percent of total contractual obligations is comprised of long-term debt?
z i m m e r h o l d i n g s , i n c . a n d s u b s i d i a r i e s 2 0 0 3 f o r m 1 0 - k contractual obligations the company has entered into contracts with various third parties in the normal course of business which will require future payments . the following table illustrates the company 2019s contractual obligations : than 1 - 3 4 - 5 after contractual obligations total 1 year years years 5 years .

| Contractual Obligations | Total | Less Than 1 Year | 1 - 3 Years | 4 - 5 Years | After 5 Years |
| :--- | :--- | :--- | :--- | :--- | :--- |
| Long-term debt | $1,103.0 | $100.0 | $655.3 | $347.7 | $– |
| Capital leases | 6.1 | 1.3 | 3.7 | 1.1 | – |
| Operating leases | 77.2 | 23.0 | 32.3 | 9.2 | 12.7 |
| Purchase Obligations | 13.3 | 13.3 | – | – | – |
| Other long-term liabilities | 352.6 | – | 139.9 | 42.0 | 170.7 |
| Total contractual obligations | $1,552.2 | $137.6 | $831.2 | $400.0 | $183.4 |

critical accounting estimates the financial results of the company are affected by the income taxes 2013 the company estimates income selection and application of accounting policies and methods . tax expense and income tax liabilities and assets by taxable significant accounting policies which require management 2019s jurisdiction . realization of deferred tax assets in each taxable judgment are discussed below . jurisdiction is dependent on the company 2019s ability to generate future taxable income sufficient to realize the excess inventory and instruments 2013 the company benefits . the company evaluates deferred tax assets on must determine as of each balance sheet date how much , if an ongoing basis and provides valuation allowances if it is any , of its inventory may ultimately prove to be unsaleable or determined to be 2018 2018more likely than not 2019 2019 that the deferred unsaleable at its carrying cost . similarly , the company must tax benefit will not be realized . federal income taxes are also determine if instruments on hand will be put to provided on the portion of the income of foreign subsidiaries productive use or remain undeployed as a result of excess that is expected to be remitted to the u.s . the company supply . reserves are established to effectively adjust operates within numerous taxing jurisdictions . the company inventory and instruments to net realizable value . to is subject to regulatory review or audit in virtually all of determine the appropriate level of reserves , the company those jurisdictions and those reviews and audits may require evaluates current stock levels in relation to historical and extended periods of time to resolve . the company makes use expected patterns of demand for all of its products and of all available information and makes reasoned judgments instrument systems and components . the basis for the regarding matters requiring interpretation in establishing determination is generally the same for all inventory and tax expense , liabilities and reserves . the company believes instrument items and categories except for work-in-progress adequate provisions exist for income taxes for all periods inventory , which is recorded at cost . obsolete or and jurisdictions subject to review or audit . discontinued items are generally destroyed and completely written off . management evaluates the need for changes to commitments and contingencies 2013 accruals for valuation reserves based on market conditions , competitive product liability and other claims are established with offerings and other factors on a regular basis . centerpulse internal and external counsel based on current information historically applied a similar conceptual framework in and historical settlement information for claims , related fees estimating market value of excess inventory and instruments and for claims incurred but not reported . an actuarial model under international financial reporting standards and is used by the company to assist management in determining u.s . generally accepted accounting principles . within that an appropriate level of accruals for product liability claims . framework , zimmer and centerpulse differed however , in historical patterns of claim loss development over time are certain respects , to their approaches to such estimation . statistically analyzed to arrive at factors which are then following the acquisition , the company determined that a applied to loss estimates in the actuarial model . the amounts consistent approach is necessary to maintaining effective established represent management 2019s best estimate of the control over financial reporting . consideration was given to ultimate costs that it will incur under the various both approaches and the company established a common contingencies . estimation technique taking both prior approaches into account . this change in estimate resulted in a charge to earnings of $ 3.0 million after tax in the fourth quarter . such change is not considered material to the company 2019s financial position , results of operations or cash flows. .

long_term_debt = 1103.0
total_contractual_obligations = 1552.2
percent_long_term_debt = long_term_debt / total_contractual_obligations
answer = percent_long_term_debt * 100