Answer: 2.0

Question: How many years does Euro sold for U.S. dollars stay higher than Japanese yen sold for U.S. dollars?

Context:
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) of certain of its assets and liabilities under its interest rate swap agreements held as of December 31, 2006 and entered into during the first half of 2007. In addition, the Company paid $8.0 million related to a treasury rate lock agreement entered into and settled during the year ended December 31, 2008. The cost of the treasury rate lock is being recognized as additional interest expense over the 10-year term of the 7.00% Notes. During the year ended December 31, 2007, the Company also received $3.1 million in cash upon settlement of the assets and liabilities under ten forward starting interest rate swap agreements with an aggregate notional amount of $1.4 billion, which were designated as cash flow hedges to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the Certificates issued in the Securitization in May 2007. The settlement is being recognized as a reduction in interest expense over the five-year period for which the interest rate swaps were designated as hedges. The Company also received $17.0 million in cash upon settlement of the assets and liabilities under thirteen additional interest rate swap agreements with an aggregate notional amount of $850.0 million that managed exposure to variability of interest rates under the credit facilities but were not considered cash flow hedges for accounting purposes. This gain is included in other income in the accompanying consolidated statement of operations for the year ended December 31, 2007. As of December 31, 2008 and 2007, other comprehensive (loss) income included the following items related to derivative financial instruments (in thousands):

	2008	2007

Deferred loss on the settlement of the treasury rate lock, net of tax	$-4,332	$-4,901

Deferred gain on the settlement of interest rate swap agreements entered into in connection with the Securitization, net oftax	1,238	1,636

Unrealized losses related to interest rate swap agreements, net of tax	-16,349	-486

 During the years ended December 31, 2008 and 2007, the Company recorded an aggregate net unrealized loss of approximately $15.8 million and $3.2 million, respectively (net of a tax provision of approximately $10.2 million and $2.0 million, respectively) in other comprehensive loss for the change in fair value of interest rate swaps designated as cash flow hedges and reclassified an aggregate of $0.1 million and $6.2 million, respectively (net of an income tax provision of $2.0 million and an income tax benefit of $3.3 million, respectively) into results of operations.9. FAIR VALUE MEASUREMENTS The Company determines the fair market values of its financial instruments based on the fair value hierarchy established in SFAS No.157, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. Level 1 Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The Company’s Level 1 assets consist of available-for-sale securities traded on active markets as well as certain Brazilian Treasury securities that are highly liquid and are actively traded in over-the-counter markets. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The Company issued 82,865, 93,367 and 105,239 of non-vested restricted stock units in 2017, 2016 and 2015, respectively, the majority of which provide for vesting as to all underlying shares on the third anniversary of the grant date. The weighted average grant-date fair value for non-vested restricted stock units granted during 2017, 2016 and 2015 was $187.85, $142.71 and $118.00, respectively. The Company recorded $11.2 million of expense related to restricted stock units during 2017, which is included in cost of goods sold or selling, general and administrative expenses. The unamortized share-based compensation cost related to non-vested restricted stock units, net of expected forfeitures, was $13.2 million, which is expected to be recognized over a weighted-average period of 1.8 years. The Company uses treasury stock to provide shares of common stock in connection with vesting of the restricted stock units. TELEFLEX INCORPORATED NOTES?TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) F-37 Note 13?— Income taxes The following table summarizes the components of the provision for income taxes from continuing operations:

	2017	2016	2015

	(Dollars in thousands)

Current:

Federal	$133,621	$2,344	$-4,700

State	5,213	5,230	2,377

Foreign	35,444	28,842	53,151

Deferred:

Federal	-258,247	-25,141	-35,750

State	1,459	-1,837	-5,012

Foreign	212,158	-1,364	-2,228

	$129,648	$8,074	$7,838

 The Tax Cuts and Jobs Act (the “TCJA”) was enacted on December 22, 2017. The legislation significantly changes U. S.  tax law by, among other things, permanently reducing corporate income tax rates from a maximum of 35% to 21%, effective January 1, 2018; implementing a territorial tax system, by generally providing for, among other things, a dividends received deduction on the foreign source portion of dividends received from a foreign corporation if specified conditions are met; and imposing a one-time repatriation tax on undistributed post-1986 foreign subsidiary earnings and profits, which are deemed repatriated for purposes of the tax. As a result of the TCJA, the Company reassessed and revalued its ending net deferred tax liabilities at December 31, 2017 and recognized a?$46.1 million?provisional tax benefit in the Company’s consolidated statement of income for the year ended December 31, 2017. As a result of the deemed repatriation tax under the TCJA, the Company recognized a $154.0 million provisional tax expense in the Company’s consolidated statement of income for the year ended December 31, 2017, and the Company expects to pay this tax over an eight-year period. While the TCJA provides for a territorial tax system, beginning in 2018, it includes?two?new U. S.  tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U. S.  income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company expects that it will be subject to incremental U. S.  tax on GILTI income beginning in 2018. Because of the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the TCJA and the application of Financial Accounting Standards Board Accounting Standards Codification Topic 740, "Income Taxes. " Under U. S.  GAAP, the Company may make an accounting policy election to either (1) treat future taxes with respect to the inclusion in U. S.  taxable income of amounts related to GILTI as current period expense when incurred (the “period cost method”) or (2) take such amounts into a company’s measurement of its deferred taxes (the “deferred method”). The Company’s selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on an analysis of the Company’s global income to determine whether the Company expects to have future U. S.  inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. The determination of whether the Company expects to have future U. S.  inclusions ? Miller Insurance Services LLP, which is a Pounds sterling functional entity, earns significant non-functional currency revenues, in which case the Company limits its exposure to exchange rate changes by the use of forward contracts matched to a percentage of forecast cash inflows in specific currencies and periods. However, where the foreign exchange risk relates to any Pounds sterling pension benefits assets or liability for pension benefits, we do not hedge the risk. Consequently, if our London market operations have a significant pension asset or liability, we may be exposed to accounting gains and losses, recognized in other comprehensive income or loss, if the U. S.  dollar and Pounds sterling exchange rates change. We do, however, hedge the Pounds sterling contributions into the pension plan. Translation risk Outside our U. S.  and London market operations, we predominantly earn revenues and incur expenses in the local currency. When we translate the results and net assets of these operations into U. S.  dollars for reporting purposes, movements in exchange rates will affect reported results and net assets. For example, if the U. S.  dollar strengthens against the Euro, the reported results of our Eurozone operations in U. S.  dollar terms will be lower. With the exception of foreign currency hedges for certain intercompany loans that are not designated as hedging instruments, we do not hedge translation risk. The table below provides information about our foreign currency forward exchange contracts, which are sensitive to exchange rate risk. The table summarizes the U. S.  dollar equivalent amounts of each currency bought and sold forward and the weighted average contractual exchange rates. All forward exchange contracts mature within three years.

	Settlement date before December 31,

	2017	2018	2019

December 31, 2016	Contract amount	Average contractual exchange rate	Contract amount	Average contractual exchange rate	Contract amount	Average contractual exchange rate

	(millions)		(millions)		(millions)

Foreign currency sold

U.S. dollars sold for Pounds sterling	$390	$1.51 = £1	$268	$1.46 = £1	$77	$1.39 = £1

Euro sold for U.S. dollars	74	€1 = $1.20	48	€1 = $1.19	14	€1 = $1.17

Japanese yen sold for U.S. dollars	21	¥110.85 = $1	13	¥110.90 - $1	5	¥98.63 = $1

Euro sold for Pounds sterling	22	€1 = £1.21	9	1 = £1.33	4	€1 = £1.24

Total	$507		$338		$100

Fair value(i)	$-65		$-40		$-5

 (i) Represents the difference between the contract amount and the cash flow in U. S.  dollars which would have been receivable had the foreign currency forward exchange contracts been entered into on December 31, 2016 at the forward exchange rates prevailing at that date.


Answer: 26.5

Question: What was the average value of the International Funds in the years where Federal Money Market Funds is positive for Total? (in million)

Context:
Entergy Texas, Inc.  Management's Financial Discussion and Analysis 361 Fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between Entergy Gulf States Louisiana and Entergy Texas and an increase in the average market prices of purchased power and natural gas, substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs. Other regulatory charges increased primarily due to an increase of $6.9 million in the recovery of bond expenses related to the securitization bonds. The recovery became effective July 2007. See Note 5 to the financial statements for additional information regarding the securitization bonds.2007 Compared to 2006 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges. Following is an analysis of the change in net revenue comparing 2007 to 2006.

	Amount (In Millions)

2006 net revenue	$403.3

Purchased power capacity	13.1

Securitization transition charge	9.9

Volume/weather	9.7

Transmission revenue	6.1

Base revenue	2.6

Other	-2.4

2007 net revenue	$442.3

 The purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between Entergy Texas and Entergy Gulf States Louisiana. The securitization transition charge variance is due to the issuance of securitization bonds. As discussed above, in June 2007, EGSRF I, a company wholly-owned and consolidated by Entergy Texas, issued securitization bonds and with the proceeds purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. See Note 5 to the financial statements herein for details of the securitization bond issuance. The volume/weather variance is due to increased electricity usage on billed retail sales, including the effects of more favorable weather in 2007 compared to the same period in 2006. The increase is also due to an increase in usage during the unbilled sales period. Retail electricity usage increased a total of 139 GWh in all sectors. See "Critical Accounting Estimates" below and Note 1 to the financial statements for further discussion of the accounting for unbilled revenues. The transmission revenue variance is due to an increase in rates effective June 2007 and new transmission customers in late 2006. The base revenue variance is due to the transition to competition rider that began in March 2006. Refer to Note 2 to the financial statements for further discussion of the rate increase. Gross operating revenues, fuel and purchased power expenses, and other regulatory charges Gross operating revenues decreased primarily due to a decrease of $179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds. The decrease was partially offset by the $39 million increase in net revenue described above and an increase of $44 million in wholesale revenues, including $30 million from the System Agreement cost equalization payments from Entergy Arkansas. The receipt of such payments is being Noble Energy, Inc.  Notes to Consolidated Financial Statements Additional fair value disclosures about plan assets are as follows:

	Fair Value Measurements Using

Asset Category	Quoted Prices inActive Markets forIdentical Assets(Level 1)(1)	SignificantObservable Inputs(Level 2)(1)	SignificantUnobservable Inputs(Level 3)(1)	Total

(millions)

December 31, 2011

Federal Money Market Funds	$1	$-	$-	$1

Mutual Funds

Large Cap Funds	66	-	-	66

Mid Cap Funds	10	-	-	10

Blended Funds	6	-	-	6

Emerging Markets Funds	6	-	-	6

Fixed Income Funds	77	-	-	77

Common Collective Trust Funds

Large Cap Funds	-	17	-	17

Small Cap Funds	-	12	-	12

International Funds	-	24	-	24

Total	$166	$53	$-	$219

December 31, 2010

Federal Money Market Funds	$2	$-	$-	$2

Mutual Funds

Large Cap Funds	69	-	-	69

Mid Cap Funds	10	-	-	10

Blended Funds	6	-	-	6

Emerging Markets Funds	7	-	-	7

Fixed Income Funds	55	-	-	55

Common Collective Trust Funds

Large Cap Funds	-	16	-	16

Small Cap Funds	-	12	-	12

International Funds	-	29	-	29

Total	$149	$57	$-	$206

 (1) See Note 1. Summary of Significant Accounting Policies - Fair Value Measurements for a description of the fair value hierarchy. Additional information about plan assets, including methods and assumptions used to estimate the fair values of plan assets, is as follows: Federal Money Market Funds Investments in federal money market funds consist of portfolios of high quality fixed income securities (such as US Treasury securities) which, generally, have maturities of less than one year. The fair value of these investments is based on quoted market prices for identical assets as of the measurement date. Mutual Funds Investments in mutual funds consist of diversified portfolios of common stocks and fixed income instruments. The common stock mutual funds are diversified by market capitalization and investment style as well as economic sector and industry. The fixed income mutual funds are diversified primarily in government bonds, mortgage backed securities, and corporate bonds, most of which are rated investment grade. The fair values of these investments are based on quoted market prices for identical assets as of the measurement date. Common Collective Trust Funds Investments in common collective trust funds consist of common stock investments in both US and non-US equity markets. Portfolios are diversified by market capitalization and investment style as well as economic sector and industry. The investments in the non-US equity markets are used to further enhance the plan’s overall equity diversification which is expected to moderate the plan’s overall risk volatility. In addition to the normal risk associated with stock market investing, investments in foreign equity markets may carry additional political, regulatory, and currency risk which is taken into account by the committee in its deliberations. The fair value of these investments is based on quoted prices for similar assets in active markets. All of the investments in common collective trust funds represent exchange-traded securities with readily observable prices. Risk Management The oil and gas business is subject to many significant risks, including operational, strategic, financial and compliance/ regulatory risks. We strive to maintain a proactive enterprise risk management (ERM) process to plan, organize, and control our activities in a manner which is intended to minimize the effects of risk on our capital, cash flows and earnings. ERM expands our process to include risks associated with accidental losses, as well as operational, strategic, financial, compliance/regulatory, and other risks. Our ERM process is designed to operate in an annual cycle, integrated with our long range plans, and supportive of our capital structure planning. Elements include, among others, cash flow at risk analysis, credit risk management, a commodity hedging program to reduce the impacts of commodity price volatility, an insurance program to protect against disruptions in our cash flows, a robust global compliance program, and government and community relations initiatives. We benchmark our program against our peers and other global organizations. See Item 1A. Risk Factors for a discussion of specific risks we face in our business. Available Information Our website address is www. nobleenergyinc. com. Available on this website under “Investors – SEC Filings,” free of charge, are our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements, Forms 3, 4 and 5 filed on behalf of directors and executive officers and amendments to those reports as soon as reasonably practicable after such materials are electronically filed with or furnished to the SEC. Alternatively, you may access these reports at the SEC’s website at www. sec. gov. Also posted on our website under “About Us – Corporate Governance”, and available in print upon request made by any stockholder to the Investor Relations Department, are charters for our Audit Committee, Compensation, Benefits and Stock Option Committee, Corporate Governance and Nominating Committee, and Environment, Health and Safety Committee. Copies of the Code of Conduct and the Code of Ethics for Chief Executive and Senior Financial Officers (the Codes) are also posted on our website under the “Corporate Governance” section. Within the time period required by the SEC and the NYSE, as applicable, we will post on our website any modifications to the Codes and any waivers applicable to senior officers as defined in the applicable Code, as required by the Sarbanes-Oxley Act of 2002. Item 1A. Risk Factors Described below are certain risks that we believe are applicable to our business and the oil and gas industry in which we operate. There may be additional risks that are not presently material or known. You should carefully consider each of the following risks and all other information set forth in this Annual Report on Form 10-K. If any of the events described below occur, our business, financial condition, results of operations, cash flows, liquidity or access to the capital markets could be materially adversely affected. In addition, the current global economic and political environment intensifies many of these risks. We are currently experiencing a severe downturn in the oil and gas business cycle, and an extended or more severe downturn could have material adverse effects on our operations, our liquidity, and the price of our common stock. Our ability to operate profitably, maintain adequate liquidity, grow our business and pay dividends on our common stock depend highly upon the prices we receive for our crude oil, natural gas, and NGL production. Commodity prices are volatile. Crude oil prices, in particular, began to decline significantly in the fourth quarter 2014, declined further in 2015 and have continued to trade at a low level or decline further thus far in 2016. High and low monthly daily average prices for crude oil and high and low contract expiration prices for natural gas for the last three years and into 2016 were as follows:

	Jan. 1 - Feb.12, 2016	Year Ended December 31,

	2015	2014	2013

NYMEX

Crude Oil - WTI (per Bbl) High(1)	$31.78	$59.83	$105.15	$110.53

Crude Oil - WTI (per Bbl) Low(1)	29.71	37.33	59.29	86.68

Natural Gas - HH (Per MMbtu) High	2.23	3.19	5.56	4.46

Natural Gas - HH (Per MMbtu) Low	2.05	2.03	3.73	3.11

Brent

Crude Oil - (per Bbl) High	32.80	64.32	111.76	118.90

Crude Oil - (per Bbl) Low	31.93	38.21	62.91	97.69


Answer: 2.0

Question: how many years did it take to close the pilgrim plant after after its last refueling?

Context:
Part I Item 1 Entergy Corporation, Utility operating companies, and System Energy 253 including the continued effectiveness of the Clean Energy Standards/Zero Emissions Credit program (CES/ZEC), the establishment of certain long-term agreements on acceptable terms with the Energy Research and Development Authority of the State of New York in connection with the CES/ZEC program, and NYPSC approval of the transaction on acceptable terms, Entergy refueled the FitzPatrick plant in January and February 2017. In October 2015, Entergy determined that it would close the Pilgrim plant. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. The Pilgrim plant is expected to cease operations on May 31, 2019, after refueling in the spring of 2017 and operating through the end of that fuel cycle. In December 2015, Entergy Wholesale Commodities closed on the sale of its 583 MW Rhode Island State Energy Center (RISEC), in Johnston, Rhode Island. The base sales price, excluding adjustments, was approximately $490 million. Entergy Wholesale Commodities purchased RISEC for $346 million in December 2011. In December 2016, Entergy announced that it reached an agreement with Consumers Energy to terminate the PPA for the Palisades plant on May 31, 2018. Pursuant to the PPA termination agreement, Consumers Energy will pay Entergy $172 million for the early termination of the PPA. The PPA termination agreement is subject to regulatory approvals. Separately, and assuming regulatory approvals are obtained for the PPA termination agreement, Entergy intends to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. Entergy expects to enter into a new PPA with Consumers Energy under which the plant would continue to operate through October 1, 2018. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State has agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also has agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. Even without opposition, the NRC license renewal process is expected to continue at least into 2018. With the settlement concerning Indian Point, Entergy now has announced plans for the disposition of all of the Entergy Wholesale Commodities nuclear power plants, including the sales of Vermont Yankee and FitzPatrick, and the earlier than previously expected shutdowns of Pilgrim, Palisades, Indian Point 2, and Indian Point 3. See “Entergy Wholesale Commodities Exit from the Merchant Power Business” for further discussion. Property Nuclear Generating Stations Entergy Wholesale Commodities includes the ownership of the following nuclear power plants:

Power Plant	Market	In Service Year	Acquired	Location	Capacity - Reactor Type	License Expiration Date

Pilgrim (a)	IS0-NE	1972	July 1999	Plymouth, MA	688 MW - Boiling Water	2032 (a)

FitzPatrick (b)	NYISO	1975	Nov. 2000	Oswego, NY	838 MW - Boiling Water	2034 (b)

Indian Point 3 (c)	NYISO	1976	Nov. 2000	Buchanan, NY	1,041 MW - Pressurized Water	2015 (c)

Indian Point 2 (c)	NYISO	1974	Sept. 2001	Buchanan, NY	1,028 MW - Pressurized Water	2013 (c)

Vermont Yankee (d)	IS0-NE	1972	July 2002	Vernon, VT	605 MW - Boiling Water	2032 (d)

Palisades (e)	MISO	1971	Apr. 2007	Covert, MI	811 MW - Pressurized Water	2031 (e)

Consolidated Balance Sheet Data	At July 31,

(In millions)	2014	2013	2012	2011	2010

Cash, cash equivalents and investments	$1,914	$1,661	$744	$1,421	$1,622

Long-term investments	31	83	75	63	91

Working capital	1,200	1,116	258	449	1,074

Total assets	5,201	5,486	4,684	5,110	5,198

Current portion of long-term debt	—	—	—	500	—

Long-term debt	499	499	499	499	998

Other long-term obligations	203	167	166	175	143

Total stockholders’ equity	3,078	3,531	2,744	2,616	2,821

 ITEM 7 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) includes the following sections: ? Executive Overview that discusses at a high level our operating results and some of the trends that affect our business.  ? Critical Accounting Policies and Estimates that we believe are important to understanding the assumptions and judgments underlying our financial statements.  ? Results of Operations that includes a more detailed discussion of our revenue and expenses.  ? Liquidity and Capital Resources which discusses key aspects of our statements of cash flows, changes in our balance sheets and our financial commitments. You should note that this MD&A discussion contains forward-looking statements that involve risks and uncertainties. Please see the section entitled “Forward-Looking Statements and Risk Factors” at the beginning of Item 1A for important information to consider when evaluating such statements. You should read this MD&A in conjunction with the financial statements and related notes in Item 8 of this Annual Report. In fiscal 2014 we acquired Check Inc.  and in fiscal 2012 we acquired Demandforce, Inc.  We have included their results of operations in our consolidated results of operations from the dates of acquisition. In fiscal 2013 we completed the sale of our Intuit Websites business and in fiscal 2014 we completed the sales of our Intuit Financial Services (IFS) and Intuit Health businesses. We accounted for all of these businesses as discontinued operations and have therefore reclassified our statements of operations for all periods presented to reflect them as such. We have also reclassified our balance sheets for all periods presented to reflect IFS as discontinued operations. The net assets of Intuit Websites and Intuit Health were not significant, so we have not reclassified our balance sheets for any period presented to reflect them as discontinued operations. Because the cash flows of our Intuit Websites, IFS, and Intuit Health discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses from continuing operations on our statements of cash flows. See “Results of Operations – Non-Operating Income and Expense – Discontinued Operations” later in this Item 7 for more information. Unless otherwise noted, the following discussion pertains to our continuing operations. Executive Overview This overview provides a high level discussion of our operating results and some of the trends that affect our business. We believe that an understanding of these trends is important in order to understand our financial results for fiscal 2014 as well as our future prospects. This summary is not intended to be exhaustive, nor is it intended to be a substitute for the detailed discussion and analysis provided elsewhere in this Annual Report on Form 10-K. See the table later in this Note 7 for more information on the IFS operating results. The carrying amounts of the major classes of assets and liabilities of IFS at July 31, 2013 were as shown in the following table. These carrying amounts approximated fair value.

(In millions)	July 31, 2013

Accounts receivable	$40

Other current assets	4

Property and equipment, net	31

Goodwill	914

Purchased intangible assets, net	4

Other assets	6

Total assets	999

Accounts payable	15

Accrued compensation	21

Deferred revenue	3

Long-term obligations	9

Total liabilities	48

Net assets	$951

 Intuit Health In July 2013 management having the authority to do so formally approved a plan to sell our Intuit Health business and on August 19, 2013 we completed the sale for cash consideration that was not significant. We recorded a $4 million pre-tax loss on the disposal of Intuit Health that was more than offset by a related income tax benefit of approximately $14 million, resulting in a net gain on disposal of approximately $10 million in the first quarter of fiscal 2014. The decision to sell the Intuit Health business was a result of management's desire to focus resources on its offerings for small businesses, consumers, and accounting professionals. Intuit Health was part of our former Other Businesses reportable segment. We determined that our Intuit Health business became a long-lived asset held for sale in the fourth quarter of fiscal 2013. A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell. Since the carrying value of Intuit Health at July 31, 2013 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date. We also classified our Intuit Health business as discontinued operations in the fourth quarter of fiscal 2013 and have segregated its operating results in our statements of operations for all periods presented. See the table later in this Note for more information. We have not segregated the net assets of Intuit Health on our balance sheets for any period presented. Net assets held for sale at July 31, 2013 consisted primarily of operating assets and liabilities that were not material. Because operating cash flows from the Intuit Health business were also not material for any period presented, we have not segregated them from continuing operations on our statements of cash flows. Intuit Websites In July 2012 management having the authority to do so formally approved a plan to sell our Intuit Websites business, which was a component of our Small Business reportable segment. The decision was the result of a shift in our strategy for helping small businesses to establish an online presence. On August 10, 2012 we signed a definitive agreement to sell our Intuit Websites business and on September 17, 2012 we completed the sale for approximately $60 million in cash. We recorded a gain on disposal of approximately $32 million, net of income taxes. We determined that our Intuit Websites business became a long-lived asset held for sale in the fourth quarter of fiscal 2012. A long-lived asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell. Since the carrying value of Intuit Websites at July 31, 2012 was less than the estimated fair value less cost to sell, no adjustment to the carrying value of this long-lived asset was necessary at that date.


Answer: -29.0

Question: What's the difference of New orders between 2013 and 2012? (in million)

Context:
Backlog Applied manufactures systems to meet demand represented by order backlog and customer commitments. Backlog consists of: (1) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months, or shipment has occurred but revenue has not been recognized; and (2) contractual service revenue and maintenance fees to be earned within the next 12 months. Backlog by reportable segment as of October 27, 2013 and October 28, 2012 was as follows:

	2013	2012		(In millions, except percentages)

Silicon Systems Group	$1,295	55%	$705	44%

Applied Global Services	591	25%	580	36%

Display	361	15%	206	13%

Energy and Environmental Solutions	125	5%	115	7%

Total	$2,372	100%	$1,606	100%

 Applied’s backlog on any particular date is not necessarily indicative of actual sales for any future periods, due to the potential for customer changes in delivery schedules or cancellation of orders. Customers may delay delivery of products or cancel orders prior to shipment, subject to possible cancellation penalties. Delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on Applied’s business and results of operations. Manufacturing, Raw Materials and Supplies Applied’s manufacturing activities consist primarily of assembly, test and integration of various proprietary and commercial parts, components and subassemblies (collectively, parts) that are used to manufacture systems. Applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries, including the United States, Europe, Israel, Singapore, Taiwan, and other countries in Asia, and assembly of some systems is completed at customer sites. Applied uses numerous vendors, including contract manufacturers, to supply parts and assembly services for the manufacture and support of its products. Although Applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers, this is not always possible. Accordingly, some key parts may be obtained from only a single supplier or a limited group of suppliers. Applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by: (1) selecting and qualifying alternate suppliers for key parts; (2) monitoring the financial condition of key suppliers; (3) maintaining appropriate inventories of key parts; (4) qualifying new parts on a timely basis; and (5) locating certain manufacturing operations in close proximity to suppliers and customers. Research, Development and Engineering Applied’s long-term growth strategy requires continued development of new products. The Company’s significant investment in research, development and engineering (RD&E) has generally enabled it to deliver new products and technologies before the emergence of strong demand, thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle. Applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements. Product development and engineering organizations are located primarily in the United States, as well as in Europe, Israel, Taiwan, and China. In addition, Applied outsources certain RD&E activities, some of which are performed outside the United States, primarily in India. Process support and customer demonstration laboratories are located in the United States, China, Taiwan, Europe, and Israel. Applied’s investments in RD&E for product development and engineering programs to create or improve products and technologies over the last three years were as follows: $1.3 billion (18 percent of net sales) in fiscal 2013, $1.2 billion (14 percent of net sales) in fiscal 2012, and $1.1 billion (11 percent of net sales) in fiscal 2011. Applied has spent an average of 14 percent of net sales in RD&E over the last five years. In addition to RD&E for specific product technologies, Applied maintains ongoing programs for automation control systems, materials research, and environmental control that are applicable to its products. Item 2: Properties Information concerning Applied’s principal properties at October 27, 2013 is set forth below:

Location	Type	Principal Use	SquareFootage	Ownership

Santa Clara, CA	Office, Plant & Warehouse	Headquarters; Marketing; Manufacturing; Distribution; Research, Development,Engineering; Customer Support	1,476,000150,000	OwnedLeased

Austin, TX	Office, Plant & Warehouse	Manufacturing	1,719,000145,000	OwnedLeased

Rehovot, Israel	Office, Plant & Warehouse	Manufacturing; Research,Development, Engineering;Customer Support	417,0005,000	OwnedLeased

Singapore	Office, Plant & Warehouse	Manufacturing andCustomer Support	392,00010,000	OwnedLeased

Gloucester, MA	Office, Plant & Warehouse	Manufacturing; Research,Development, Engineering;Customer Support	315,000131,000	OwnedLeased

Tainan, Taiwan	Office, Plant & Warehouse	Manufacturing andCustomer Support	320,000	Owned

 Because of the interrelation of Applied’s operations, properties within a country may be shared by the segments operating within that country. Products in the Silicon Systems Group are manufactured in Austin, Texas; Singapore; Gloucester, Massachusetts; and Rehovot, Israel. Remanufactured equipment products in the Applied Global Services segment are produced primarily in Austin, Texas. Products in the Display segment are manufactured in Tainan, Taiwan; Santa Clara, California; and Alzenau, Germany. Products in the Energy and Environmental Solutions segment are primarily manufactured in Alzenau, Germany; Treviso, Italy; and Cheseaux, Switzerland. In addition to the above properties, Applied also owns and leases offices, plants and/or warehouse locations in 78 locations throughout the world: 18 in Europe, 21 in Japan, 15 in North America (principally the United States), 8 in China, 7 in Korea, 6 in Southeast Asia, and 3 in Taiwan. These facilities are principally used for manufacturing; research, development and engineering; and marketing, sales and/or customer support. Applied also owns a total of approximately 139 acres of buildable land in Texas, California, Israel and Italy that could accommodate additional building space. Applied considers the properties that it owns or leases as adequate to meet its current and future requirements. Applied regularly assesses the size, capability and location of its global infrastructure and periodically makes adjustments based on these assessments. Fiscal 2013 operating results reflected a recovery in demand for TV manufacturing equipment and continued demand for advanced mobile display equipment, which resulted in increased new orders, net sales, operating income and non-GAAPadjusted operating income compared to fiscal 2012. In the fourth quarter of fiscal 2013, new orders were $114 million, down 55 percent from the prior quarter, and reflected customer push-outs of orders. Net sales in the fourth quarter of fiscal 2013 were $163 million, almost flat compared to the prior quarter. Two customers accounted for approximately 50 percent of net sales for the Display segment in fiscal 2013. Fiscal 2012 operating results reflected a continued overcapacity in the large substrate LCD TV equipment industry that resulted in decreased new orders and net sales in fiscal 2012. The downturn in the LCD TV equipment industry was partially offset by increased demand for advanced mobile display equipment. Four customers accounted for 60 percent of net sales for the Display segment in fiscal 2012. Energy and Environmental Solutions Segment The Energy and Environmental Solutions segment includes products for fabricating c-Si solar PVs, as well as high throughput roll-to-roll deposition equipment for flexible electronics, packaging and other applications. This business is focused on delivering solutions to generate and conserve energy, with an emphasis on lowering the cost to produce solar power and increasing conversion efficiency. While end-demand for solar PVs has been robust over the last several years, investment levels in capital equipment remain depressed. Global solar PV production capacity exceeds anticipated demand, which has caused solar PV manufacturers to significantly reduce or delay investments in manufacturing capacity and new technology, or in some instances to cease operations. Certain significant measures for the past three fiscal years were as follows:

				Change

2013	2012	2011	2013 over 2012	2012 over 2011

	(In millions, except percentages and ratios)

New orders	$166	$195	$1,684	$-29	-15%	$-1,489	-88%

Net sales	173	425	1,990	-252	-59%	-1,565	-79%

Book to bill ratio	1.0	0.5	0.8

Operating income (loss)	-433	-668	453	235	35%	-1,121	-247%

Operating margin	-250.3%	-157.2%	22.8%		-93.1 points		-180.0 points

Non-GAAP Adjusted Results

Non-GAAP adjusted operating income (loss)	-115	-184	444	69	38%	-628	-141%

Non-GAAP adjusted operating margin	-66.5%	-43.3%	22.3%		-23.2 points		-65.6 points

 Reconciliations of non-GAAP adjusted measures are presented under "Non-GAAP Adjusted Results" below. Net Operating Revenues by Operating Segment Information about our net operating revenues by operating segment as a percentage of Company net operating revenues is as follows:


Answer: 2092343.0

Question: What's the total amount of Subtotal analog signal processing without those Subtotal analog signal processing smaller than 500000, in 2014?

Context:
The year-to-year increase in communications end market revenue in fiscal 2014 was primarily a result of increased wireless base station deployment activity and, to a lesser extent, an increase in revenue as a result of the Acquisition. Industrial end market revenue increased year-over-year in fiscal 2014 as compared to fiscal 2013 as a result of an increase in demand in this end market, which was most significant for products sold into the instrumentation and automation sectors and, to a lesser extent, an increase in revenue as a result of the Acquisition. The year-to-year increase in automotive end market revenue in fiscal 2014 was primarily a result of increasing electronic content in vehicles and higher demand for new vehicles. The year-toyear decrease in revenue in the consumer end market in fiscal 2014 was primarily the result of the sale of our microphone product line in the fourth quarter of fiscal 2013. The year-to-year decrease in revenue in the industrial and consumer end markets in fiscal 2013 was primarily the result of a weak global economic environment and one less week of operations in fiscal 2013 as compared to fiscal 2012. Automotive end market revenue increased in fiscal 2013 primarily as a result of increasing electronic content in vehicles. Revenue Trends by Product Type The following table summarizes revenue by product categories. The categorization of our products into broad categories is based on the characteristics of the individual products, the specification of the products and in some cases the specific uses that certain products have within applications. The categorization of products into categories is therefore subject to judgment in some cases and can vary over time. In instances where products move between product categories, we reclassify the amounts in the product categories for all prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each product category

	2014	2013	2012

	Revenue	% ofTotalProductRevenue*	Y/Y%	Revenue	% ofTotalProductRevenue*	Revenue	% ofTotalProductRevenue*

Converters	$1,285,368	45%	9%	$1,180,072	45%	$1,192,064	44%

Amplifiers/Radio frequency	806,975	28%	18%	682,759	26%	697,687	26%

Other analog	356,406	12%	-4%	372,281	14%	397,376	15%

Subtotal analog signal processing	2,448,749	85%	10%	2,235,112	85%	2,287,127	85%

Power management & reference	174,483	6%	1%	172,920	7%	182,134	7%

Total analog products	$2,623,232	92%	9%	$2,408,032	91%	$2,469,261	91%

Digital signal processing	241,541	8%	7%	225,657	9%	231,881	9%

Total Revenue	$2,864,773	100%	9%	$2,633,689	100%	$2,701,142	100%

 The sum of the individual percentages does not equal the total due to rounding. The year-to-year increase in total revenue in fiscal 2014 as compared to fiscal 2013 was the result of improving demand across most product type categories and the result of the Acquisition, which was partially offset by declines in the other analog product category, primarily as a result of the sale of our microphone product line in the fourth quarter of fiscal 2013. The year-to-year decrease in total revenue in fiscal 2013 as compared to fiscal 2012 was the result of one less week of operations in fiscal 2013 as compared to fiscal 2012 and a broad-based decrease in demand across most product type categories. Revenue Trends by Geographic Region Revenue by geographic region, based upon the primary location of our customers' design activity for its products, for fiscal 2014, 2013 and 2012 was as follows. ANALOG DEVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

Stock Options	2014	2013	2012

Options granted (in thousands)	2,240	2,407	2,456

Weighted-average exercise price	$51.52	$46.40	$39.58

Weighted-average grant-date fair value	$8.74	$7.38	$7.37

Assumptions:

Weighted-average expected volatility	24.9%	24.6%	28.4%

Weighted-average expected term (in years)	5.3	5.4	5.3

Weighted-average risk-free interest rate	1.7%	1.0%	1.1%

Weighted-average expected dividend yield	2.9%	2.9%	3.0%

 As it relates to our market-based restricted stock units, the Company utilizes the Monte Carlo simulation valuation model to value these awards. The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the performance conditions stipulated in the award grant and calculates the fair market value for the market-based restricted stock units granted. The Monte Carlo simulation model also uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions, including the possibility that the market condition may not be satisfied, and the resulting fair value of the award. Information pertaining to the Company's market-based restricted stock units and the related estimated assumptions used to calculate the fair value of market-based restricted stock units granted using the Monte Carlo simulation model is as follows:

Market-based Restricted Stock Units	2014

Units granted (in thousands)	86

Grant-date fair value	$50.79

Assumptions:

Historical stock price volatility	23.2%

Risk-free interest rate	0.8%

Expected dividend yield	2.8%

 Market-based restricted stock units were not granted during fiscal 2013 or 2012. Expected volatility — The Company is responsible for estimating volatility and has considered a number of factors, including third-party estimates. The Company currently believes that the exclusive use of implied volatility results in the best estimate of the grant-date fair value of employee stock options because it reflects the market’s current expectations of future volatility. In evaluating the appropriateness of exclusively relying on implied volatility, the Company concluded that: (1) options in the Company’s common stock are actively traded with sufficient volume on several exchanges; (2) the market prices of both the traded options and the underlying shares are measured at a similar point in time to each other and on a date close to the grant date of the employee share options; (3) the traded options have exercise prices that are both near-the-money and close to the exercise price of the employee share options; and (4) the remaining maturities of the traded options used to estimate volatility are at least one year. Expected term — The Company uses historical employee exercise and option expiration data to estimate the expected term assumption for the Black-Scholes grant-date valuation. The Company believes that this historical data is currently the best estimate of the expected term of a new option, and that generally its employees exhibit similar exercise behavior. Risk-free interest rate — The yield on zero-coupon U. S.  Treasury securities for a period that is commensurate with the expected term assumption is used as the risk-free interest rate. Expected dividend yield — Expected dividend yield is calculated by annualizing the cash dividend declared by the Company’s Board of Directors for the current quarter and dividing that result by the closing stock price on the date of grant. Until such time as the Company’s Board of Directors declares a cash dividend for an amount that is different from the current quarter’s cash dividend, the current dividend will be used in deriving this assumption. Cash dividends are not paid on options, restricted stock or restricted stock units. an adverse development with respect to one claim in 2008 and favorable developments in three cases in 2009. Other costs were also lower in 2009 compared to 2008, driven by a decrease in expenses for freight and property damages, employee travel, and utilities. In addition, higher bad debt expense in 2008 due to the uncertain impact of the recessionary economy drove a favorable year-over-year comparison. Conversely, an additional expense of $30 million related to a transaction with Pacer International, Inc.  and higher property taxes partially offset lower costs in 2009. Other costs were higher in 2008 compared to 2007 due to an increase in bad debts, state and local taxes, loss and damage expenses, utility costs, and other miscellaneous expenses totaling $122 million. Conversely, personal injury costs (including asbestos-related claims) were $8 million lower in 2008 compared to 2007. The reduction reflects improvements in our safety experience and lower estimated costs to resolve claims as indicated in the actuarial studies of our personal injury expense and annual reviews of asbestos-related claims in both 2008 and 2007. The year-over-year comparison also includes the negative impact of adverse development associated with one claim in 2008. In addition, environmental and toxic tort expenses were $7 million lower in 2008 compared to 2007. Non-Operating Items


Answer: 8138.0

Question: What was the total amount of Total asset-backed the in the sections where Corporate and other bonds is greater than 100? (in million)

Context:
Notes to Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies – (Continued) CNA applies the same impairment model as described above for the majority of its non-redeemable preferred stock securities on the basis that these securities possess characteristics similar to debt securities and that the issuers maintain their ability to pay dividends. For all other equity securities, in determining whether the security is otherthan-temporarily impaired, the Impairment Committee considers a number of factors including, but not limited to: (i) the length of time and the extent to which the fair value has been less than amortized cost, (ii) the financial condition and near term prospects of the issuer, (iii) the intent and ability of CNA to retain its investment for a period of time sufficient to allow for an anticipated recovery in value and (iv) general market conditions and industry or sector specific outlook. Joint venture investments – The Company has 20% to 50% interests in operating joint ventures related to hotel properties and had joint venture interests in the former Bluegrass Project, as discussed in Note 2, that are accounted for under the equity method. The Company’s investment in these entities was $217 million and $234 million for the years ended December 31, 2016 and 2015 and reported in Other assets on the Company’s Consolidated Balance Sheets. Equity income (loss) for these investments was $41 million, $43 million and $(62) million for the years ended December 31, 2016, 2015 and 2014 and reported in Other operating expenses on the Company’s Consolidated Statements of Income. Some of these investments are variable interest entities (“VIE”) as defined in the accounting guidance because the entities will require additional funding from each equity owner throughout the development and construction phase and are accounted for under the equity method since the Company is not the primary beneficiary. The maximum exposure to loss for the VIE investments is $337 million, consisting of the amount of the investment and debt guarantees. The following tables present summarized financial information for these joint ventures:

 Year Ended December 31		 2016	2015

 (In millions)

Total assets		$1,749	$1,577

Total liabilities		1,444	1,231

 Year Ended December 31	 2016	2015	2014

Revenues	$693	$606	$491

Net income	80	71	32

 Hedging – The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedging transactions. The Company also formally assesses (both at the hedge’s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative for which hedge accounting has been designated is not (or ceases to be) highly effective, the Company discontinues hedge accounting prospectively. See Note 3 for additional information on the Company’s use of derivatives. Securities lending activities – The Company lends securities for the purpose of enhancing income or to finance positions to unrelated parties who have been designated as primary dealers by the Federal Reserve Bank of New York. Borrowers of these securities must deposit and maintain collateral with the Company of no less than 100% of the fair value of the securities loaned. U. S.  Government securities and cash are accepted as collateral. The Company maintains effective control over loaned securities and, therefore, continues to report such securities as investments on the Consolidated Balance Sheets. Securities lending is typically done on a matched-book basis where the collateral is invested to substantially match the term of the loan. This matching of terms tends to limit risk. In accordance with the Company’s lending agreements, securities on loan are returned immediately to the Company upon notice. Collateral is not reflected as an asset of the Company. There was no collateral held at December 31, 2016 and 2015. Notes to Consolidated Financial Statements Note 4. Fair Value – (Continued) x Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. x Level 3 – Valuations derived from valuation techniques in which one or more significant inputs are not observable. Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security. In general, the Company seeks to price securities using third party pricing services. Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets. Prices obtained from third-party pricing services or brokers are not adjusted by the Company. The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable. Procedures may include: (i) the review of pricing service methodologies or broker pricing qualifications, (ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, (iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, (iv) detailed analysis, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities and (v) pricing validation, where prices received are compared to prices independently estimated by the Company. The fair values of CNA’s life settlement contracts are included in Other assets on the Consolidated Balance Sheets. Equity options purchased are included in Equity securities, and all other derivative assets are included in Receivables. Derivative liabilities are included in Payable to brokers. Assets and liabilities measured at fair value on a recurring basis are summarized in the tables below:

 December 31, 2016	Level 1	 Level 2	 Level 3	 Total

 (In millions)

 Fixed maturity securities:

 Corporate and other bonds		$18,828	$130	$18,958

 States, municipalities and political subdivisions		13,239	1	13,240

 Asset-backed:

 Residential mortgage-backed		4,944	129	5,073

 Commercial mortgage-backed		2,027	13	2,040

 Other asset-backed		968	57	1,025

 Total asset-backed		7,939	199	8,138

 U.S. Treasury and obligations of government-sponsored enterprises	$93			93

 Foreign government		445		445

 Redeemable preferred stock	19			19

 Fixed maturitiesavailable-for-sale	112	40,451	330	40,893

 Fixed maturities trading		595	6	601

 Total fixed maturities	$112	$41,046	$336	$41,494

 Equity securitiesavailable-for-sale	$91		$19	$110

 Equity securities trading	438		1	439

 Total equity securities	$529	$-	$20	$549

 Short term investments	$3,833	$853		$4,686

 Other invested assets	55	5		60

 Receivables	1			1

 Life settlement contracts			$58	58

 Payable to brokers	-44			-44

 Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The following graph compares annual total return of our Common Stock, the Standard & Poor’s 500 Composite Stock Index (“S&P 500 Index”) and our Peer Group (“Loews Peer Group”) for the five years ended December 31, 2016. The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index and the Loews Peer Group was $100 on December 31, 2011 and that all dividends were reinvested.

	2011	2012	2013	2014	2015	2016

Loews Common Stock	100.0	108.91	129.64	113.59	104.47	128.19

S&P 500 Index	100.0	116.00	153.57	174.60	177.01	198.18

Loews Peer Group (a)	100.0	113.39	142.85	150.44	142.44	165.34

 (a) The Loews Peer Group consists of the following companies that are industry competitors of our principal operating subsidiaries: Chubb Limited (name change from ACE Limited after it acquired The Chubb Corporation on January 15, 2016), W. R.  Berkley Corporation, The Chubb Corporation (included through January 15, 2016 when it was acquired by ACE Limited), Energy Transfer Partners L. P. , Ensco plc, The Hartford Financial Services Group, Inc. , Kinder Morgan Energy Partners, L. P.  (included through November 26, 2014 when it was acquired by Kinder Morgan Inc. ), Noble Corporation, Spectra Energy Corp, Transocean Ltd.  and The Travelers Companies, Inc.  Dividend Information We have paid quarterly cash dividends in each year since 1967. Regular dividends of $0.0625 per share of Loews common stock were paid in each calendar quarter of 2016 and 2015.


Answer: 51484.0

Question: What was the average of the Operating Expenses in the years where Revenue is positive? (in million)

Context:
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations Overview U. S.  economic growth, retail sales and industrial production continued at a moderate pace in 2014, which resulted in growth in the small package delivery market. Continued strong growth in e-commerce and omni-channel retail sales has driven package volume increases in both commercial and residential products. Given these trends, overall volume growth was strong during the year, and products most aligned with business-to-consumer and retail industry shipments experienced the fastest growth. Economic conditions in Europe have deteriorated somewhat, as solid growth in the United Kingdom is being offset by slower growth in Germany and general economic weakness in France and Italy. Economic growth in Asia has continued, though growth in China has moderated. The uneven nature of economic growth worldwide, combined with a trend towards more intra-regional trade, has led to shifting trade patterns and resulted in overcapacity in certain trade lanes. These factors have created an environment in which customers are more likely to trade-down from premium express products to standard delivery products in both Europe and Asia. As a result of these circumstances, we have adjusted our air capacity and cost structure in our transportation network to better match the prevailing volume mix levels. Our broad portfolio of product offerings and the flexibilities inherent in our transportation network have helped us adapt to these changing trends. While the worldwide economic environment has remained challenging in 2014, we have continued to undertake several initiatives in the U. S.  and internationally to (1) improve the flexibility and capacity in our delivery network; (2) improve yield management; and (3) increase operational efficiency and contain costs across all segments. Most notably, the continued deployment of technology improvements (including several facility automation projects and the accelerated deployment of our On Road Integrated Optimization and Navigation system - "ORION") should increase our network capacity, and improve operational efficiency, flexibility and reliability. Additionally, we have continued to adjust our transportation network and utilize new or expanded operating facilities to improve time-in-transit for shipments in each region. Our consolidated results are presented in the table below:

	Year Ended December 31,	% Change

	2014	2013	2012	2014 / 2013	2013 / 2012

Revenue (in millions)	$58,232	$55,438	$54,127	5.0%	2.4%

Operating Expenses (in millions)	53,264	48,404	52,784	10.0%	-8.3%

Operating Profit (in millions)	$4,968	$7,034	$1,343	-29.4%	N/A

Operating Margin	8.5%	12.7%	2.5%

Average Daily Package Volume (in thousands)	18,016	16,938	16,295	6.4%	3.9%

Average Revenue Per Piece	$10.58	$10.76	$10.82	-1.7%	-0.6%

Net Income (in millions)	$3,032	$4,372	$807	-30.6%	N/A

Basic Earnings Per Share	$3.31	$4.65	$0.84	-28.8%	N/A

Diluted Earnings Per Share	$3.28	$4.61	$0.83	-28.9%	N/A

 UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30 Revenue The change in overall revenue was impacted by the following factors for the years ended December 31, 2014 and 2013, compared with the corresponding prior year periods:

	Volume	Rates /Product Mix	FuelSurcharge	TotalRevenueChange

Revenue Change Drivers:

2014 / 2013	6.8%	-1.6%	—%	5.2%

2013 / 2012	3.7%	0.5%	-0.5%	3.7%

 Volume 2014 compared to 2013 Our total volume increased in 2014, largely due to continued solid growth in e-commerce and overall retail sales. Business-to-consumer shipments, which represent more than 45% of total U. S.  Domestic Package volume, grew 12% for the year and drove increases in both air and ground shipments. UPS SurePost volume increased more than 45% in 2014, and accounted for approximately half of the overall volume growth for the segment. Business-to-business volume grew 3% in 2014, largely due to increased volume from the retail industry, including the use of our solutions for omni-channel (including ship-from-store and ship-to-store models) and returns shipping; additionally, business-to-business volume was positively impacted by growth in shipments from the industrial, automotive and government sectors. Among our air products, volume increased in 2014 for both our Next Day Air and deferred services. Solid air volume growth continued for those products most aligned with business-to-consumer shipping, particularly our residential Second Day Air package product. Our business-to-business air volume increased slightly as well, largely due to growth in the retail and industrial sectors. This growth was slightly offset by a decline in air letter volume, which was negatively impacted by some competitive losses and slowing growth in the financial services industry. The growth in premium and deferred air volume continues to be impacted by economic conditions and changes in our customers' supply chain networks; the combination of these factors influences their sensitivity towards the price and speed of shipments, and therefore favoring the use of our deferred air services. The increase in ground volume in 2014 was driven by our SurePost service offering, which had a volume increase of more than 45% for the year; additionally, we experienced moderate volume growth in our traditional residential and commercial ground services. Demand for SurePost and our traditional residential products continues to be driven by businessto-consumer shipping activity from e-commerce retailers and other large customers. The growth in business-to-business ground volume was largely due to growth in omni-channel retail volume, the increased use of our returns service offerings, and the growth in shipments from the industrial sector.2013 compared to 2012 Our overall volume increased in 2013 compared with 2012, largely due to continued solid growth in e-commerce and overall retail sales; however, the increase in volume was hindered by slow overall U. S.  economic and industrial production growth. Business-to-consumer shipments, which represent over 40% of total U. S.  Domestic Package volume, grew approximately 8% for the year and drove increases in both air and ground shipments. Growth accelerated during our peak holiday shipping season, as business-to-consumer volume grew over 11% in the fourth quarter of 2013, and business-toconsumer shipments exceeded 50% of total U. S.  Domestic Package volume for the first time. Business-to-business volume increased slightly in 2013, largely due to increased shipping activity by the retail industry; however, business-to-business volume was negatively impacted by slowing industrial production. UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 49 Issuances of debt in 2014 and 2013 consisted primarily of longer-maturity commercial paper. Issuances of debt in 2012 consisted primarily of senior fixed rate note offerings totaling $1.75 billion. Repayments of debt in 2014 and 2013 consisted primarily of the maturity of our $1.0 and $1.75 billion senior fixed rate notes that matured in April 2014 and January 2013, respectively. The remaining repayments of debt during the 2012 through 2014 time period included paydowns of commercial paper and scheduled principal payments on our capitalized lease obligations. We consider the overall fixed and floating interest rate mix of our portfolio and the related overall cost of borrowing when planning for future issuances and non-scheduled repayments of debt. We had $772 million of commercial paper outstanding at December 31, 2014, and no commercial paper outstanding at December 31, 2013 and 2012. The amount of commercial paper outstanding fluctuates throughout each year based on daily liquidity needs. The average commercial paper balance was $1.356 billion and the average interest rate paid was 0.10% in 2014 ($1.013 billion and 0.07% in 2013, and $962 million and 0.07% in 2012, respectively). The variation in cash received from common stock issuances to employees was primarily due to level of stock option exercises in the 2012 through 2014 period. The cash outflows in other financing activities were impacted by several factors. Cash inflows (outflows) from the premium payments and settlements of capped call options for the purchase of UPS class B shares were $(47), $(93) and $206 million for 2014, 2013 and 2012, respectively. Cash outflows related to the repurchase of shares to satisfy tax withholding obligations on vested employee stock awards were $224, $253 and $234 million for 2014, 2013 and 2012, respectively. In 2013, we paid $70 million to purchase the noncontrolling interest in a joint venture that operates in the Middle East, Turkey and portions of the Central Asia region. In 2012, we settled several interest rate derivatives that were designated as hedges of the senior fixed-rate debt offerings that year, which resulted in a cash outflow of $70 million. Sources of Credit See note 7 to the audited consolidated financial statements for a discussion of our available credit and debt covenants. Guarantees and Other Off-Balance Sheet Arrangements We do not have guarantees or other off-balance sheet financing arrangements, including variable interest entities, which we believe could have a material impact on financial condition or liquidity. Contractual Commitments We have contractual obligations and commitments in the form of capital leases, operating leases, debt obligations, purchase commitments, and certain other liabilities. We intend to satisfy these obligations through the use of cash flow from operations. The following table summarizes the expected cash outflow to satisfy our contractual obligations and commitments as of December 31, 2014 (in millions):

Commitment Type	2015	2016	2017	2018	2019	After 2019	Total

Capital Leases	$75	$74	$67	$62	$59	$435	$772

Operating Leases	323	257	210	150	90	274	1,304

Debt Principal	876	8	377	752	1,000	7,068	10,081

Debt Interest	295	293	293	282	260	4,259	5,682

Purchase Commitments	269	195	71	19	8	26	588

Pension Fundings	1,030	1,161	344	347	400	488	3,770

Other Liabilities	43	23	10	5	—	—	81

Total	$2,911	$2,011	$1,372	$1,617	$1,817	$12,550	$22,278


Answer: 4155.0

Question: What is the total value of Professional fees, Personnel, Data processing and telecommunications and Foreign exchange activity1 in 2018? (in million)

Context:
PART II ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our Class A common stock trades on the New York Stock Exchange under the symbol “MA”. At February 8, 2019, we had 73 stockholders of record for our Class A common stock. We believe that the number of beneficial owners is substantially greater than the number of record holders because a large portion of our Class A common stock is held in “street name” by brokers. There is currently no established public trading market for our Class B common stock. There were approximately 287 holders of record of our non-voting Class B common stock as of February 8, 2019, constituting approximately 1.1% of our total outstanding equity. Stock Performance Graph The graph and table below compare the cumulative total stockholder return of Mastercard’s Class A common stock, the S&P 500 Financials and the S&P 500 Index for the five-year period ended December 31, 2018. The graph assumes a $100 investment in our Class A common stock and both of the indices and the reinvestment of dividends. Mastercard’s Class B common stock is not publicly traded or listed on any exchange or dealer quotation system.

	Base period	Indexed Returns For the Years Ended December 31,

Company/Index	2013	2014	2015	2016	2017	2018

Mastercard	$100.00	$103.73	$118.05	$126.20	$186.37	$233.56

S&P 500 Financials	100.00	115.20	113.44	139.31	170.21	148.03

S&P 500 Index	100.00	113.69	115.26	129.05	157.22	150.33

 Total returns to stockholders for each of the years presented were as follows: General and Administrative The significant components of our general and administrative expenses were as follows:

	For the Years Ended December 31,	Percent Increase (Decrease)

	2018	2017	2016	2018	2017

	($ in millions)

Personnel	$3,214	$2,687	$2,225	20%	21%

Professional fees	377	355	337	6%	5%

Data processing and telecommunications	600	504	420	19%	20%

Foreign exchange activity1	-36	106	34	**	**

Other	1,019	1,001	811	2%	23%

General and administrative expenses	5,174	4,653	3,827	11%	22%

Special Item2	—	-167	—	**	**

Adjusted general and administrative expenses (excluding Special Item)2	$5,174	$4,486	$3,827	15%	17%

 Note: Table may not sum due to rounding. ** Not meaningful 1 Foreign exchange activity includes gains and losses on foreign exchange derivative contracts and the impact of remeasurement of assets and liabilities denominated in foreign currencies. See Note 22 (Foreign Exchange Risk Management) to the consolidated financial statements included in Part II, Item 8 for further discussion.2 See “Non-GAAP Financial Information” for further information on Special Items. The primary drivers of general and administrative expenses in 2018 and 2017, versus the prior year, were as follows: ? Personnel expenses increased 20% and 21%, or 19% and 20% on a currency-neutral basis, respectively. The 2018 and 2017 increases were driven by a higher number of employees to support our continued investment in the areas of real-time account-based payments, digital, services, data analytics and geographic expansion. The impact of acquisitions contributed 2 and 6 percentage points of growth for 2018 and 2017, respectively.  ? Data processing and telecommunication expenses increased 19% and 20%, respectively, both as reported and on a currency-neutral basis, due to capacity growth of our business. Acquisitions contributed 3 and 8 percentage points, respectively.  ? Foreign exchange activity contributed a benefit of 3 percentage points in 2018 related to gains from our foreign exchange activity for derivative contracts primarily due to the strengthening of the U. S.  dollar, partially offset by balance sheet remeasurement losses. In 2017, foreign exchange activity had a negative impact of 2 percentage points due to greater losses from foreign exchange derivative contracts.  ? Other expenses increased 2% and 23%, or 2% and 25% on a currency-neutral basis, respectively. In 2018, other expenses increased primarily due to the $100 million contribution to the Mastercard Impact Fund. The remaining increase was due to costs to support our strategic development efforts. These increases were primarily offset by the non-recurring Venezuela charge of $167 million recorded in 2017 which was the primary driver of growth for that period. Other expenses include costs to provide loyalty and rewards solutions, travel and meeting expenses and rental expense for our facilities and other costs associated with our business. Advertising and Marketing In 2018, advertising and marketing expenses increased 18% both as reported and on a currency-neutral basis versus 2017, primarily due to a change in accounting for certain marketing fund arrangements as a result of our adoption of the new revenue guidance, partially offset by a net decrease in spending on certain marketing campaigns. For a more detailed discussion on the impact of the new revenue guidance, refer to Note 1 (Summary of Significant Accounting Policies). In 2017, advertising and marketing expenses increased 11%, or 10% on a currency-neutral basis versus 2016, mainly due to higher marketing spend primarily related to certain marketing campaigns. The table below shows a summary of select balance sheet data at December 31:

	2018	2017

	(in millions)

Balance Sheet Data:

Current assets	$16,171	$13,797

Current liabilities	11,593	8,793

Long-term liabilities	7,778	6,968

Equity	5,418	5,497

 We believe that our existing cash, cash equivalents and investment securities balances, our cash flow generating capabilities, our borrowing capacity and our access to capital resources are sufficient to satisfy our future operating cash needs, capital asset purchases, outstanding commitments and other liquidity requirements associated with our existing operations and potential obligations. Debt and Credit Availability In February 2018, we issued $500 million principal amount of notes due in 2028 and an additional $500 million principal amount of notes due in 2048. Our total debt outstanding (including the current portion) was $6.3 billion and $5.4 billion at December 31, 2018 and 2017, respectively, with the earliest maturity of $500 million of principal occurring in April 2019. As of December 31, 2018, we have a commercial paper program (the “Commercial Paper Program”), under which we are authorized to issue up to $4.5 billion in outstanding notes, with maturities up to 397 days from the date of issuance. In conjunction with the Commercial Paper Program, we have a committed unsecured $4.5 billion revolving credit facility (the “Credit Facility”) which expires in November 2023. Borrowings under the Commercial Paper Program and the Credit Facility are to provide liquidity for general corporate purposes, including providing liquidity in the event of one or more settlement failures by our customers. In addition, we may borrow and repay amounts under these facilities for business continuity purposes. We had no borrowings outstanding under the Commercial Paper Program or the Credit Facility at December 31, 2018 and 2017. In March 2018, we filed a universal shelf registration statement (replacing a previously filed shelf registration statement that was set to expire) to provide additional access to capital, if needed. Pursuant to the shelf registration statement, we may from time to time offer to sell debt securities, guarantees of debt securities, preferred stock, Class A common stock, depository shares, purchase contracts, units or warrants in one or more offerings. See Note 14 (Debt) to the consolidated financial statements included in Part II, Item 8 for further discussion on our debt, the Commercial Paper Program and the Credit Facility. Dividends and Share Repurchases We have historically paid quarterly dividends on our outstanding Class A common stock and Class B common stock. Subject to legally available funds, we intend to continue to pay a quarterly cash dividend. However, the declaration and payment of future dividends is at the sole discretion of our Board of Directors after taking into account various factors, including our financial condition, operating results, available cash and current and anticipated cash needs. The following table summarizes the annual, per share dividends paid in the years reflected:


Answer: 21119.0

Question: The total amount of which section ranks first for AmortizedCost or Cost for Fixed maturities? (in million)

Context:
Shares of common stock issued, in treasury, and outstanding were (in thousands of shares):

	Shares Issued	Treasury Shares	Shares Outstanding

Balance at December 29, 2013	376,832	—	376,832

Exercise of stock options, issuance of other stock awards, and other	178	—	178

Balance at December 28, 2014	377,010	—	377,010

Exercise of warrants	20,480	—	20,480

Issuance of common stock to Sponsors	221,666	—	221,666

Acquisition of Kraft Foods Group, Inc.	592,898	—	592,898

Exercise of stock options, issuance of other stock awards, and other	2,338	-413	1,925

Balance at January 3, 2016	1,214,392	-413	1,213,979

Exercise of stock options, issuance of other stock awards, and other	4,555	-2,058	2,497

Balance at December 31, 2016	1,218,947	-2,471	1,216,476

 Note 13.  Financing Arrangements We routinely enter into accounts receivable securitization and factoring programs . We account for transfers of receivables pursuant to these programs as a sale and remove them from our consolidated balance sheet. At December 31, 2016 , our most significant program in place was the U. S.  securitization program, which was amended in May 2016 and originally entered into in October of 2015. Under the program, we are entitled to receive cash consideration of up to $800 million (which we elected to reduce to $500 million , effective February 21, 2017) and a receivable for the remainder of the purchase price (the “Deferred Purchase Price”). This securitization program utilizes a bankruptcyremote special-purpose entity (“SPE”). The SPE is wholly-owned by a subsidiary of Kraft Heinz and its sole business consists of the purchase or acceptance, through capital contributions of receivables and related assets, from a Kraft Heinz subsidiary and subsequent transfer of such receivables and related assets to a bank. Although the SPE is included in our consolidated financial statements, it is a separate legal entity with separate creditors who will be entitled, upon its liquidation, to be satisfied out of the SPE's assets prior to any assets or value in the SPE becoming available to Kraft Heinz or its subsidiaries. The assets of the SPE are not available to pay creditors of Kraft Heinz or its subsidiaries. This program expires in May 2017. In addition to the U. S.  securitization program, we have accounts receivable factoring programs denominated in Australian dollars, New Zealand dollars, British pound sterling, euros, and Japanese yen. Under these programs, we generally receive cash consideration up to a certain limit and a receivable for the Deferred Purchase Price. There is no Deferred Purchase Price associated with the Japanese yen contract. Related to these programs, our aggregate cash consideration limit, after applying applicable hold-backs, was $245 million U. S.  dollars at December 31, 2016. Generally, each of these programs automatically renews annually until terminated by either party. The cash consideration and carrying amount of receivables removed from the consolidated balance sheets in connection with the above programs were $904 million at December 31, 2016 and $267 million at January 3, 2016 . The fair value of the Deferred Purchase Price for the programs was $129 million at December 31, 2016 and $583 million at January 3, 2016 . The Deferred Purchase Price is included in sold receivables on the consolidated balance sheets and had a carrying value which approximated its fair value at December 31, 2016 and January 3, 2016 . The proceeds from these sales are recognized on the consolidated statements of cash flows as a component of operating activities. We act as servicer for these arrangements and have not recorded any servicing assets or liabilities for these arrangements as of December 31, 2016 and January 3, 2016 because they were not material to the financial statements. PRUDENTIAL FINANCIAL, INC.  Notes to Consolidated Financial Statements The following table sets forth a rollforward of pre-tax amounts remaining in OCI related to fixed maturity securities with credit loss impairments recognized in earnings, for the periods indicated:

	Years Ended December 31,

	2018	2017

	(in millions)

Credit loss impairments:

Balance, beginning of period	$319	$359

New credit loss impairments	1	10

Additional credit loss impairments on securities previously impaired	0	11

Increases due to the passage of time on previously recorded credit losses	10	15

Reductions for securities which matured, paid down, prepaid or were sold during the period	-162	-58

Reductions for securities impaired to fair value during the period-1	-24	-13

Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected	-4	-5

Balance, end of period	$140	$319

 (1) Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. Assets Supporting Experience-Rated Contractholder Liabilities The following table sets forth the composition of “Assets supporting experience-rated contractholder liabilities,” as of the dates indicated:

	December 31, 2018	December 31, 2017

	AmortizedCost or Cost	FairValue	AmortizedCost or Cost	FairValue

	(in millions)

Short-term investments and cash equivalents	$215	$215	$245	$245

Fixed maturities:

Corporate securities	13,258	13,119	13,816	14,073

Commercial mortgage-backed securities	2,346	2,324	2,294	2,311

Residential mortgage-backed securities-1	828	811	961	966

Asset-backed securities-2	1,649	1,665	1,363	1,392

Foreign government bonds	1,087	1,083	1,050	1,057

U.S. government authorities and agencies and obligations of U.S. states	538	577	357	410

Total fixed maturities-3	19,706	19,579	19,841	20,209

Equity securities	1,378	1,460	1,278	1,643

Total assets supporting experience-rated contractholder liabilities-4	$21,299	$21,254	$21,364	$22,097

 (1) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, auto loans, credit cards, education loans and other asset types. Includes collateralized loan obligations at fair value of $1,028 million and $943 million as of December 31, 2018 and 2017, respectively, all of which were rated AAA. (3) As a percentage of amortized cost, 93% and 92% of the portfolio was considered high or highest quality based on NAIC or equivalent ratings, as of December 31, 2018 and 2017, respectively. (4) As a percentage of amortized cost, 78% and 80% of the portfolio consisted of public securities as of December 31, 2018 and 2017, respectively. The net change in unrealized gains (losses) from assets supporting experience-rated contractholder liabilities still held at period end, recorded within “Other income (loss),” was $(778) million, $300 million and $75 million during the years ended December 31, 2018, 2017 and 2016, respectively. Equity Securities The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within “Other income (loss),” was $(1,157) million during the year ended December 31, 2018. The net change in unrealized gains (losses) from equity securities, still held at period end, recorded within “Other comprehensive income (loss),” was $(494) million and $760 million during the years ended December 31, 2017 and 2016, respectively. Benefits and expenses increased $735 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $709 million primarily driven by an increase in policyholders’ benefits, including the change in policy reserves, related to the increase in premiums discussed above. Account Values Account values are a significant driver of our operating results, and are primarily driven by net additions (withdrawals) and the impact of market changes. The income we earn on most of our fee-based products varies with the level of fee-based account values, since many policy fees are determined by these values. The investment income and interest we credit to policyholders on our spread-based products varies with the level of general account values. To a lesser extent, changes in account values impact our pattern of amortization of DAC and VOBA and general and administrative expenses. The following table shows the changes in the account values and net additions (withdrawals) of Retirement segment products for the periods indicated. Net additions (withdrawals) are plan sales and participant deposits or additions, as applicable, minus plan and participant withdrawals and benefits. Account values include both internally- and externallymanaged client balances as the total balances drive revenue for the Retirement segment. For more information on internally-managed balances, see “—PGIM. ”