Laptop Battery

I bought my Surface Laptop Studio (original version) when they first came out. Now it seems I only get 2 hours of battery life. I ran the battery report and here is what It says.

Design Capacity 56,310 mWh

Full Charge Capacity 47,820 mWh

Cycle Count 113

Does this mean after 113 charges my battery is only 85% of what it was new? And of course the warranty ended 17 days ago.