what percentage of total contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 are due to operating leases?
approved by the board of directors on april 21 , 2004 and expired on april 30 , 2006 . sources and uses in financing activities during 2005 related primarily to uses for the payment of a dividend ( $ 54.0 million ) and stock repurchase ( $ 26.7 million ) , and a source of cash from the issuance of common shares related to the exercise of employee stock options , the related tax benefit , and the employee stock purchase plan ( $ 9.7 million ) . cash dividends paid to shareholders were $ 162.5 million , $ 107.9 million , and $ 54.0 million during fiscal years 2007 , 2006 , and 2005 , respectively . we believe that our existing cash balances and cash flow from operations will be sufficient to meet our projected capital expenditures , working capital and other cash requirements at least through the end of fiscal 2010 . contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 , aggregated by type of contractual obligation .

|  | Payments due by period |
| :--- | :--- |
| Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years |
| Operating Leases | $43,438 | $6,581 | $11,582 | $9,263 | $16,012 |
| Purchase Obligations | 5,078 | 422 | 2,251 | 2,405 | 0 |
| Total | $48,516 | $7,003 | $13,833 | $11,668 | $16,012 |

operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada . purchase obligations are the aggregate of those purchase orders that were outstanding on december 29 , 2007 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business . off-balance sheet arrangements we do not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials . product pricing and raw materials costs are both significantly influenced by semiconductor market conditions . historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs . inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations . if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases . our inability or failure to do so could adversely affect our business , financial condition and results of operations . foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates . we generally have not been significantly affected by foreign exchange fluctuations .

leases_2007 = 43438
leases_total = 48516
percent_leases = leases_2007 / leases_total
answer = percent_leases * 100