that benefit is larger -- the greater is the potential repat riation tax burden. so when we see firms maybing this designation, these will be firms that see a nontrivial tax cost of repatriated earnings. i will not get into the details, that's not my expertise. i think there seenlm to be lots of ways that foreign take overs to lock these earnings without triggering such a large tax burden. so i am going to look in the data does that appear to be true. it seems like there are ways to structure acquisitions and then reorganize the structure of the business to access these earnings. if that's true then what we should see is that u.s. target firms with more pre so more locked out earnings should be more likely acquired by foreign companies. in fact, that's what we find. so if we take a target firm with some pre so it's sort of recognized and it has some locked out earnings. we compare it to other similar u.s. target firm that doesn't have any locked out earnings, what we see is the locked out earnings target is 4.4%age points more likely to be acquired by a foreign co