CITIZENS FINANCIAL GROUP, INC.  MANAGEMENT'S DISCUSSION AND ANALYSIS 92 Noninterest expense of $2.5 billion decreased $169 million, or 6%, from 2012, which included the $138 million overdraft settlement.
Excluding this settlement charge, noninterest expense decreased $31 million driven by lower salaries and benefits and branch related costs partially offset by higher commissions expense.
Provision for credit losses of $308 million decreased $100 million, or 24%, from 2012, largely reflecting the benefit of decreased charge-offs in the residential real estate secured portfolio as well as general improvement in the credit environment.
Commercial Banking
## Table 0 ##
(1)  Loans held for sale include loans relating to the Chicago Divestiture.
(2)  These are non-GAAP financial measures.
For more information on the computation of these non-GAAP financial measures, see “—Principal Components of Operations and Key Performance Metrics Used By Management — Key Performance Metrics and Non-GAAP Financial Measures.
” (3)  Operating segments are allocated capital on a risk-adjusted basis considering economic and regulatory capital requirements.
We approximate that regulatory capital is equivalent to a sustainable target level for CET1 and then allocate that approximation to the segments based on economic capital.
Commercial Banking net income of $514 million in 2013 increased $61 million, or 13%, from $453 million in 2012 driven by growth in noninterest income and continued improvement in credit quality.
Total revenue rose 3% reflecting an 11% increase in noninterest income and relatively flat net interest income.
Net interest income of $1.0 billion in 2013 remained relatively flat with the prior year as the benefit of loan growth of 7%, largely in middle market, mid-corporate, and franchise lending, was offset by a 21 basis point decline in net interest margin given the relatively persistent low-rate environment.
Noninterest income of $389 million in 2013 increased $40 million, or 11%, from 2012, largely due to higher interest rate products and leasing income, which was partially offset by lower foreign exchange and trade finance fees.
Noninterest expense of $635 million in 2013 increased $10 million, driven by higher salary and benefits cost as well as continued investment in technology and risk management.
Average loans and leases increased $2.1 billion, or 7%, in 2013 due to strong new loan origination activity particularly in the second half of 2013 in commercial finance.
Average deposit balances were relatively flat at $17.5 billion despite a $256 million increase in noninterest-bearing demand deposits.
Entergy Corporation and Subsidiaries Notes to Financial Statements Reallocation Agreement (Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and System Energy) System Energy, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans entered into the Reallocation Agreement relating to the sale of capacity and energy from Grand Gulf and the related costs, in which Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans agreed to assume all of Entergy Arkansas’s responsibilities and obligations with respect to Grand Gulf under the Availability Agreement. ?
?The FERC’s decision allocating a portion of Grand Gulf capacity and energy to Entergy Arkansas supersedes the Reallocation Agreement as it relates to Grand Gulf. ?
?Responsibility for any Grand Gulf 2 amortization amounts has been individually allocated (Entergy Louisiana-26.23%, Entergy Mississippi-43.97%, and Entergy New Orleans-29.80%) under the terms of the Reallocation Agreement. ?
?However, the Reallocation Agreement does not affect Entergy Arkansas’s obligation to System Energy’s lenders under the assignments referred to in the preceding paragraph. ?
?Entergy Arkansas would be liable for its share of such amounts if Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans were unable to meet their contractual obligations. ?
?No payments of any amortization amounts will be required so long as amounts paid to System Energy under the Unit Power Sales Agreement, including other funds available to System Energy, exceed amounts required under the Availability Agreement, which is expected to be the case for the foreseeable future.
Entergy Corporation and Subsidiaries Notes to Financial Statements 150 NOTE 9.
ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the assets. ?
?For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants. ?
?In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets.  ?
These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the longlived asset. ?
?The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation. ?
?The accretion will continue through the completion of the asset retirement activity. ?
?The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets. ?
?The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries.
In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards. ?
?In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates:
## Table 1 ##
Impairment or Disposal of Long-Lived Assets (SFAS 144), and record an impairment charge against income as appropriate.
A detail of property and equipment is as follows:
## Table 2 ##
Software Development Costs.
Capitalization of software development costs begins upon the establishment of technological feasibility, which is generally the completion of a working prototype and ends upon general release of the product.
Capitalized software development costs were approximately $3.0 million, $2.7 million and $2.6 million in fiscal 2005, 2004 and 2003, respectively.
Amortization of software development costs is computed based on the straight-line method over the software’s estimated economic life of approximately two years.
The Company recorded software amortization costs of $2.7 million, $2.3 million and $1.6 million in fiscal 2005, 2004 and 2003, respectively.
Goodwill, Intangible Assets and Deferred Stock Compensation.
Goodwill represents the excess of the aggregate purchase price over the fair value of the tangible and identifiable intangible assets acquired by the Company.
The goodwill recorded as a result of the business combinations in the years presented is not deductible for tax purposes.
The Company evaluates aggregate goodwill on a quarterly basis for indications of impairment based on our fair value as determined by its market capitalization in accordance with Statement of Financial Accounting Standards No.142 (SFAS 142), Goodwill and Other Intangible Assets.
If this evaluation indicates that the value of the goodwill may be impaired, the Company assesses the impairment of the goodwill using the two-step method prescribed by SFAS 142.
Any such impairment charge could be significant and could have a material adverse effect on the Company’s reported financial statements.
The Company did not record any impairment charges on its goodwill during fiscal 2005.
As of October 31, 2005, the carrying amount of our goodwill was $729.0 million.
Intangible assets consist of purchased technology, contract rights intangibles, customer installed base/relationships, trademarks and tradenames, covenants not to compete, customer backlog, capitalized software and other intangibles.
Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from two to ten years.
Amortization of intangible assets was $116.1 million, $136.4 million and $124.8 million in fiscal 2005, 2004 and 2003, respectively.
The Company evaluates its intangible assets for indications of impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
If this evaluation indicates that the value of the intangible asset may be impaired, the Company makes an assessment of the recoverability of the net carrying value of the asset over its remaining useful life.
If this assessment indicates that the intangible asset is not recoverable, based on the estimated undiscounted future cash flows of the technology over the remaining amortization period, the Company reduces the net carrying value of the related intangible asset to fair value and may adjust the remaining amortization period.
Deferred stock compensation represents the intrinsic value of unvested stock options assumed in connection with acquisitions as well as the value of restricted stock issued to members of the Board of Directors.
The deferred stock compensation is amortized on a straight-line basis over the remaining
The following table summarizes the weighted average remaining contractual life of stock options outstanding as of December 31, 2003:

<table><tr><td></td><td colspan="2">As of and for the Year Ended December 31,</td><td></td><td></td></tr><tr><td>(dollars in millions)</td><td>2013</td><td>2012</td><td>Change</td><td>Percent</td></tr><tr><td>Net interest income</td><td>$1,031</td><td>$1,036</td><td>-$5</td><td>—%</td></tr><tr><td>Noninterest income</td><td>389</td><td>349</td><td>40</td><td>11</td></tr><tr><td>Total revenue</td><td>1,420</td><td>1,385</td><td>35</td><td>3</td></tr><tr><td>Noninterest expense</td><td>635</td><td>625</td><td>10</td><td>2</td></tr><tr><td>Profit before provision for credit losses</td><td>785</td><td>760</td><td>25</td><td>3</td></tr><tr><td>Provision for credit losses</td><td>-7</td><td>63</td><td>-70</td><td>-111</td></tr><tr><td>Income before income tax expense</td><td>792</td><td>697</td><td>95</td><td>14</td></tr><tr><td>Income tax expense</td><td>278</td><td>244</td><td>34</td><td>14</td></tr><tr><td>Net income</td><td>$514</td><td>$453</td><td>$61</td><td>13</td></tr><tr><td>Loans and leases and loans held for sale (year-end)<sup>(1)</sup></td><td>$36,155</td><td>$34,384</td><td>$1,771</td><td>5</td></tr><tr><td>Average Balances:</td><td></td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>$35,229</td><td>$33,474</td><td>$1,755</td><td>5</td></tr><tr><td>Loans and leases and loans held for sale<sup>-1</sup></td><td>34,647</td><td>32,499</td><td>2,148</td><td>7</td></tr><tr><td>Deposits and deposits held for sale</td><td>17,516</td><td>17,650</td><td>-134</td><td>-1</td></tr><tr><td>Interest-earning assets</td><td>34,771</td><td>32,600</td><td>2,171</td><td>7%</td></tr><tr><td>Key Metrics:</td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest margin</td><td>2.97%</td><td>3.18%</td><td>-21 bps</td><td></td></tr><tr><td>Efficiency ratio<sup>-2</sup></td><td>44.66</td><td>45.22</td><td>-56 bps</td><td></td></tr><tr><td>Average loans to average deposits ratio</td><td>197.80</td><td>184.13</td><td>1,367 bps</td><td></td></tr><tr><td>Return on average total tangible assets<sup>-2</sup></td><td>1.46</td><td>1.35</td><td>11 bps</td><td></td></tr><tr><td>Return on average tangible common equity<sup>-2 (3)</sup></td><td>13.20</td><td>12.45</td><td>75 bps</td><td></td></tr></table>
<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td></td><td>2017</td><td>2016</td></tr><tr><td></td><td colspan="2">(In Millions)</td></tr><tr><td>Entergy Arkansas</td><td>$176.9</td><td>$128.5</td></tr><tr><td>Entergy Louisiana</td><td>-$32.4</td><td>-$53.9</td></tr><tr><td>Entergy Mississippi</td><td>$91.6</td><td>$82.0</td></tr><tr><td>Entergy New Orleans</td><td>$44.8</td><td>$40.1</td></tr><tr><td>Entergy Texas</td><td>$55.2</td><td>$33.5</td></tr><tr><td>System Energy</td><td>$67.9</td><td>$69.7</td></tr></table>
<table><tr><td> </td><td colspan="2">October 31,</td></tr><tr><td> </td><td>2005</td><td>2004</td></tr><tr><td> </td><td colspan="2">(in thousands)</td></tr><tr><td>Computer and other equipment</td><td>$351,253</td><td>$336,815</td></tr><tr><td>Buildings</td><td>21,821</td><td>21,821</td></tr><tr><td>Furniture and fixtures</td><td>29,936</td><td>28,925</td></tr><tr><td>Land</td><td>42,754</td><td>42,754</td></tr><tr><td>Leasehold improvements</td><td>71,217</td><td>70,628</td></tr><tr><td></td><td>516,981</td><td>500,943</td></tr><tr><td>Less accumulated depreciation and amortization</td><td>-346,786</td><td>-322,788</td></tr><tr><td>Total property and equipment, net</td><td>$170,195</td><td>$178,155</td></tr></table>

Question: Does net interest income keeps increasing each year between 2012 and 2013?