The EMPLOYEE-RECORD record consists of the EMPLOYEE-NAME record and the HOURLY-RATE field. The numerals 01, 02, and 05 that begin the lines of the record declaration are level numbers, which indicate by their relative values the hierarchical structure of the record. Any line that is followed by a line with a higher-level number is itself a record. The PICTURE clauses show the formats of the field storage locations, with X(20) specifying 20 alphanumeric characters and 99V99 specifying four decimal digits with the decimal point in the middle.