AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS related contingent consideration, and any subsequent changes in fair value using a discounted probabilityweighted approach.
This approach takes into consideration Level 3 unobservable inputs including probability assessments of expected future cash flows over the period in which the obligation is expected to be settled and applies a discount factor that captures the uncertainties associated with the obligation.
Changes in these unobservable inputs could significantly impact the fair value of the liabilities recorded in the accompanying consolidated balance sheets and operating expenses in the consolidated statements of operations.
As of December 31, 2012, the Company estimates the value of all potential acquisition-related contingent consideration required payments to be between zero and $43.6 million.
During the years ended December 31, 2012 and 2011, the fair value of the contingent consideration changed as follows (in thousands):
## Table 0 ##
Items Measured at Fair Value on a Nonrecurring Basis—During the year ended December 31, 2012, certain long-lived assets held and used with a carrying value of $5,379.2 million were written down to their net realizable value of $5,357.7 million as a result of an asset impairment charge of $21.5 million, which was recorded in other operating expenses in the accompanying consolidated statements of operations.
During the year ended December 31, 2011, long-lived assets held and used with a carrying value of $4,280.8 million were written down to their net realizable value of $4,271.8 million, resulting in an asset impairment charge of $9.0 million.
These adjustments were determined by comparing the estimated proceeds from sale of assets or the projected future discounted cash flows to be provided from the long-lived assets (calculated using Level 3 inputs) to the asset’s carrying value.
There were no other items measured at fair value on a nonrecurring basis during the year ended December 31, 2012.
Fair Value of Financial Instruments—The carrying value of the Company’s financial instruments, with the exception of long-term obligations, including the current portion, reasonably approximate the related fair value as of December 31, 2012 and 2011.
The Company’s estimates of fair value of its long-term obligations, including the current portion, are based primarily upon reported market values.
For long-term debt not actively traded, fair value was estimated using a discounted cash flow analysis using rates for debt with similar terms and maturities.
As of December 31, 2012, the carrying value and fair value of long-term obligations, including the current portion, were $8.8 billion and $9.4 billion, respectively, of which $4.9 billion was measured using Level 1 inputs and $4.5 billion was measured using Level 2 inputs.
As of December 31, 2011, the carrying value and fair value of long-term obligations, including the current portion, were $7.2 billion and $7.5 billion, respectively, of which $3.8 billion was measured using Level 1 inputs and $3.7 billion was measured using Level 2 inputs.13.
INCOME TAXES The Company has filed, for prior taxable years through its taxable year ended December 31, 2011, a consolidated U. S.  federal tax return, which includes all of its wholly owned domestic subsidiaries.
For its taxable year commencing January 1, 2012, the Company intends to file as a REIT, and its domestic TRSs intend to file as C corporations.
The Company also files tax returns in various states and countries.
The Company’s state tax returns reflect different combinations of the Company’s subsidiaries and are dependent on the connection each subsidiary has with a particular state.
The following information pertains to the Company’s income taxes on a consolidated basis.
Fair value estimates consider the market in which the transactions are executed.
The market in which exchange-traded and over-the-counter transactions are executed is a factor in determining fair value.
We utilize third-party references for pricing points from NYMEX and third-party over-the-counter brokers to establish the commodity pricing and volatility curves.
We believe the reported transactions from these sources are the most reflective of current market prices.
The estimate of fair value includes an adjustment for the liquidation of the position in an orderly manner over a reasonable period of time under current market conditions.
The fair value estimate also considers the risk of nonperformance based on credit considerations of the counterparty.
Credit Risk - We maintain credit policies with regard to our counterparties that we believe minimize overall credit risk.
These policies include an evaluation of potential counterparties’ financial condition (including credit ratings), collateral requirements under certain circumstances and the use of standardized agreements which allow for netting of positive and negative exposures associated with a single counterparty.
Our counterparties consist primarily of financial institutions, major energy companies, LDCs, electric utilities and commercial and industrial end-users.
This concentration of counterparties may impact our overall exposure to credit risk, either positively or negatively, in that the counterparties may be similarly affected by changes in economic, regulatory or other conditions.
Based on our policies, exposures, credit and other reserves, we do not anticipate a material adverse effect on our financial position or results of operations as a result of counterparty nonperformance.
Financial Instruments - The following information represents the carrying amounts and estimated fair values of our financial instruments for the periods indicated, excluding energy marketing and risk management assets and liabilities, which are listed in the table above.
The approximate fair value of cash and cash equivalents, short-term investments, accounts and notes receivable and accounts and notes payable is equal to book value due to their short-term nature.
The estimated fair value of long-term debt has been determined using quoted market prices of the same or similar issues, discounted cash flows, and/or rates currently available to us for debt with similar terms and remaining maturities.
The book value of our long-term debt was $4.64 billion and $4.05 billion at December 31, 2007 and 2006, respectively.
The approximate fair value of our long-term debt was $4.75 billion and $4.09 billion at December 31, 2007 and 2006, respectively.
At December 31, 2007, our investment securities classified as available for sale had an aggregate fair value of $24.2 million.
We reported $13.7 million and $12.6 million in accumulated other comprehensive income (loss) for net unrealized holding gains on available-for-sale securities in 2007 and 2006, respectively.
For 2007 and 2006, no gains or losses related to available-for-sale securities were reclassified to earnings from other comprehensive income (loss).
We had no material securities classified as available for sale at December 31, 2005.
E.  GOODWILL AND INTANGIBLE ASSETS Goodwill Activity - There was no change in the carrying amounts of goodwill during 2007.
The following table reflects the changes in the carrying amount of goodwill for the period indicated.
## Table 1 ##
Goodwill additions for 2006 in our ONEOK Partners segment include $7.5 million related to the consolidation of Guardian Pipeline, of which $5.7 million relates to the purchase of the 66-2/3 percent interest not previously owned by ONEOK Partners, and $2.1 million related to the incremental 1 percent acquisition in an affiliate that was previously accounted for under the equity method.
Following ONEOK Partners’ acquisition of the additional 1 percent interest, we began consolidating the entity.
Table 1—Financial Highlights
## Table 2 ##

<table><tr><td></td><td>2012</td><td>2011</td></tr><tr><td>Balance as of January 1</td><td>$25,617</td><td>$5,809</td></tr><tr><td>Additions</td><td>6,653</td><td>19,853</td></tr><tr><td>Payments</td><td>-15,716</td><td>-5,742</td></tr><tr><td>Change in fair value</td><td>6,329</td><td>5,634</td></tr><tr><td>Foreign currency translation adjustment</td><td>828</td><td>63</td></tr><tr><td>Balance as of December 31</td><td>$23,711</td><td>$25,617</td></tr></table>
<table><tr><td></td><td> Balance December 31, 2005</td><td> Additions</td><td>Adjustments</td><td> Adoption of EITF 04-5</td><td> Balance December 31, 2006</td></tr><tr><td></td><td colspan="5"><i>(Thousands of dollars)</i></td></tr><tr><td>ONEOK Partners</td><td>$211,087</td><td>$37,489</td><td>$-2,001</td><td>$184,843</td><td>$431,418</td></tr><tr><td>Distribution</td><td>157,953</td><td>-</td><td>-</td><td>-</td><td>157,953</td></tr><tr><td>Energy Services</td><td>10,255</td><td>-</td><td>-</td><td>-</td><td>10,255</td></tr><tr><td>Other</td><td>1,099</td><td>-</td><td>-</td><td>-</td><td>1,099</td></tr><tr><td>Total Goodwill</td><td>$380,394</td><td>$37,489</td><td>$-2,001</td><td>$184,843</td><td>$600,725</td></tr></table>
<table><tr><td></td><td>2015</td><td>2014</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td></td><td colspan="5">(In millions, except per share data)</td></tr><tr><td>EARNINGS SUMMARY</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest income, including other financing income</td><td>$3,603</td><td>$3,589</td><td>$3,647</td><td>$3,904</td><td>$4,252</td></tr><tr><td>Interest expense and depreciation expense on operating lease assets</td><td>296</td><td>309</td><td>384</td><td>603</td><td>842</td></tr><tr><td>Net interest income and other financing income</td><td>3,307</td><td>3,280</td><td>3,263</td><td>3,301</td><td>3,410</td></tr><tr><td>Provision for loan losses</td><td>241</td><td>69</td><td>138</td><td>213</td><td>1,530</td></tr><tr><td>Net interest income and other financing income after provision for loan losses</td><td>3,066</td><td>3,211</td><td>3,125</td><td>3,088</td><td>1,880</td></tr><tr><td>Non-interest income</td><td>2,071</td><td>1,903</td><td>2,096</td><td>2,201</td><td>2,226</td></tr><tr><td>Non-interest expense</td><td>3,607</td><td>3,432</td><td>3,556</td><td>3,526</td><td>3,862</td></tr><tr><td>Income from continuing operations before income taxes</td><td>1,530</td><td>1,682</td><td>1,665</td><td>1,763</td><td>244</td></tr><tr><td>Income tax expense</td><td>455</td><td>548</td><td>561</td><td>583</td><td>72</td></tr><tr><td>Income from continuing operations</td><td>1,075</td><td>1,134</td><td>1,104</td><td>1,180</td><td>172</td></tr><tr><td>Income (loss) from discontinued operations before income taxes</td><td>-22</td><td>21</td><td>-24</td><td>-99</td><td>-408</td></tr><tr><td>Income tax expense (benefit)</td><td>-9</td><td>8</td><td>-11</td><td>-40</td><td>-4</td></tr><tr><td>Income (loss) from discontinued operations, net of tax</td><td>-13</td><td>13</td><td>-13</td><td>-59</td><td>-404</td></tr><tr><td>Net income (loss)</td><td>$1,062</td><td>$1,147</td><td>$1,091</td><td>$1,121</td><td>$-232</td></tr><tr><td>Net income (loss) from continuing operations available to common shareholders</td><td>$1,011</td><td>$1,082</td><td>$1,072</td><td>$1,051</td><td>$-42</td></tr><tr><td>Net income (loss) available to common shareholders</td><td>$998</td><td>$1,095</td><td>$1,059</td><td>$992</td><td>$-446</td></tr><tr><td>Earnings (loss) per common share from continuing operations – basic</td><td>$0.76</td><td>$0.79</td><td>$0.77</td><td>$0.76</td><td>$-0.03</td></tr><tr><td>Earnings (loss) per common share from continuing operations – diluted</td><td>0.76</td><td>0.78</td><td>0.76</td><td>0.76</td><td>-0.03</td></tr><tr><td>Earnings (loss) per common share – basic</td><td>0.75</td><td>0.80</td><td>0.76</td><td>0.72</td><td>-0.35</td></tr><tr><td>Earnings (loss) per common share – diluted</td><td>0.75</td><td>0.79</td><td>0.75</td><td>0.72</td><td>-0.35</td></tr><tr><td>Return on average tangible common stockholders’ equity (non-GAAP)<sup>(1)</sup></td><td>8.96%</td><td>10.00%</td><td>10.59%</td><td>10.79%</td><td>-5.78%</td></tr><tr><td>Return on average assets from continuing operations (GAAP)</td><td>0.83</td><td>0.91</td><td>0.91</td><td>0.86</td><td>-0.03</td></tr><tr><td>BALANCE SHEET SUMMARY</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>At year-end—Consolidated</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans, net of unearned income</td><td>$81,162</td><td>$77,307</td><td>$74,609</td><td>$73,995</td><td>$77,594</td></tr><tr><td>Allowance for loan losses</td><td>-1,106</td><td>-1,103</td><td>-1,341</td><td>-1,919</td><td>-2,745</td></tr><tr><td>Assets</td><td>126,050</td><td>119,563</td><td>117,288</td><td>121,270</td><td>126,972</td></tr><tr><td>Deposits</td><td>98,430</td><td>94,200</td><td>92,453</td><td>95,474</td><td>95,627</td></tr><tr><td>Long-term debt</td><td>8,349</td><td>3,462</td><td>4,830</td><td>5,861</td><td>8,110</td></tr><tr><td>Stockholders’ equity</td><td>16,844</td><td>16,873</td><td>15,660</td><td>15,422</td><td>16,421</td></tr><tr><td>Average balances—Continuing Operations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans, net of unearned income</td><td>$79,634</td><td>$76,253</td><td>$74,924</td><td>$76,035</td><td>$80,673</td></tr><tr><td>Assets</td><td>122,265</td><td>118,352</td><td>117,712</td><td>122,105</td><td>126,649</td></tr><tr><td>Deposits</td><td>96,890</td><td>93,481</td><td>92,646</td><td>95,330</td><td>95,671</td></tr><tr><td>Long-term debt</td><td>5,046</td><td>4,057</td><td>5,206</td><td>6,694</td><td>11,240</td></tr><tr><td>Stockholders’ equity</td><td>16,922</td><td>16,609</td><td>15,409</td><td>14,957</td><td>15,280</td></tr><tr><td>SELECTED RATIOS</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Allowance for loan losses as a percentage of loans, net of unearned income</td><td>1.36%</td><td>1.43%</td><td>1.80%</td><td>2.59%</td><td>3.54%</td></tr><tr><td>Basel I Tier 1 common regulatory capital (non-GAAP)<sup>(3)</sup></td><td>N/A</td><td>11.65</td><td>11.21</td><td>10.84</td><td>8.51</td></tr><tr><td>Basel III common equity Tier 1 ratio<sup>-2</sup></td><td>10.93</td><td>N/A</td><td>N/A</td><td>N/A</td><td>N/A</td></tr><tr><td>Basel III common equity Tier 1 ratio—Fully Phased-In Pro-Forma (non-GAAP)<sup>(1)(2)(3)</sup></td><td>10.69</td><td>11.00</td><td>10.58</td><td>8.87</td><td>N/A</td></tr><tr><td>Tier 1 capital<sup>-2(3)(4)</sup></td><td>11.65</td><td>12.54</td><td>11.68</td><td>12.00</td><td>13.28</td></tr><tr><td>Total capital<sup>-2(3)(4)</sup></td><td>13.88</td><td>15.26</td><td>14.73</td><td>15.38</td><td>16.99</td></tr><tr><td>Leverage capital<sup>-2(3)(4)</sup></td><td>10.25</td><td>10.86</td><td>10.03</td><td>9.65</td><td>9.91</td></tr><tr><td>Tangible common stockholders’ equity to tangible assets (non-GAAP)<sup>(1)</sup></td><td>9.13</td><td>9.66</td><td>9.15</td><td>8.57</td><td>6.51</td></tr><tr><td>Adjusted efficiency ratio (non-GAAP)<sup>(1)</sup></td><td>64.87</td><td>64.45</td><td>64.46</td><td>63.21</td><td>63.57</td></tr></table>

Question: What is the average growth rate of Provision for loan losses between 2014 and 2015?