what percent of total contractual cash obligations is due to long-term debt?
) increased net cash flows from receivables from improved days sales outstanding offsetting increased sales levels ; partially offset by reduced cash flows from increases in inventories to build new product lines and support increased sales levels . cash provided by operating activities in 2003 decreased $ 8.4 million from 2002 due primarily to : ) reduced cash inflows from accounts receivable securitization ; and ) reduced cash inflows from increases in inventories partially offset by : ) higher earnings in 2003 before non-cash charges and credits ; ) decreased net cash outflows from accounts and other receivables ; and ) decreased net cash outflows from accounts payable and accrued expenses . net cash used in investing activities in 2004 consisted primarily of the acquisition of pvt and the purchase of ev3 2019s technology of $ 137.7 million , and capital expenditures of $ 42.5 million . net cash used in investing activities in 2003 consisted primarily of the acquisition of jomed , whitland and embol-x , inc . of $ 33.2 million , and capital expenditures of $ 37.9 million . net cash used in financing activities in 2004 consisted primarily of purchases of treasury stock of $ 59.1 million , partially offset by proceeds from stock plans of $ 30.5 million and net proceeds from issuance of long-term debt of $ 7.1 million . cash used in financing activities in 2003 consisted primarily of purchases of treasury stock of $ 49.4 million and net payments on debt of $ 4.0 million , partially offset by proceeds from stock plans of $ 36.6 million . a summary of all of the company 2019s contractual obligations and commercial commitments as of december 31 , 2004 were as follows ( in millions ) : .

|  | Payments Due By Period |
| :--- | :--- |
| Contractual Obligations | Total | Less Than 1 Year | 1-3 Years | 4-5 Years | After 5 Years |
| Long-term debt | $267.1 | $— | $— | $— | $267.1 |
| Interest on long-term debt | 30.9 | 11.2 | 15.4 | 4.3 | — |
| Operating leases | 49.8 | 13.1 | 20.4 | 15.2 | 1.1 |
| Unconditional purchase obligations(a) | 15.1 | 7.5 | 7.6 | — | — |
| Contractual development obligations(b) | 31.9 | 4.3 | 3.6 | 4.0 | 20.0 |
| Total contractual cash obligations | $394.8 | $36.1 | $47.0 | $23.5 | $288.2 |

less than after contractual obligations total 1 year 1-3 years 4-5 years 5 years long-term debt *************************** $ 267.1 $ 2014 $ 2014 $ 2014 $ 267.1 interest on long-term debt ****************** 30.9 11.2 15.4 4.3 2014 operating leases*************************** 49.8 13.1 20.4 15.2 1.1 unconditional purchase obligations ( a ) ********* 15.1 7.5 7.6 2014 2014 contractual development obligations ( b ) ******** 31.9 4.3 3.6 4.0 20.0 total contractual cash obligations************* $ 394.8 $ 36.1 $ 47.0 $ 23.5 $ 288.2 ( a ) unconditional purchase obligations consist primarily of minimum purchase commitments of inventory . ( b ) contractual development obligations consist primarily of cash that edwards lifesciences is obligated to pay to unconsolidated affiliates upon their achievement of product development milestones . critical accounting policies and estimates the company 2019s results of operations and financial position are determined based upon the application of the company 2019s accounting policies , as discussed in the notes to the consolidated financial statements . certain of the company 2019s accounting policies represent a selection among acceptable alternatives under generally accepted .

debt_2014 = 267.1
debt_total = 394.8
percent_2014 = debt_2014 / debt_total
answer = percent_2014 * 100