THE INTERPUBLIC GROUP OF COMPANIES, INC.  AND SUBSIDIARIES MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (Continued) (Amounts in Millions, Except Per Share Amounts) Pension and Postretirement Benefits We use various actuarial assumptions in determining our net pension and postretirement benefit costs and obligations.
These assumptions include discount rates and expected returns on plan assets and are updated annually or more frequently with the occurrence of significant events.
Changes in the related pension and postretirement benefit costs may occur in the future due to changes in the assumptions.
The discount rate is one of the significant assumptions that impacts our net pension and postretirement costs and obligations.
The discount rates are determined at the beginning of the year based on prevailing interest rates as of the measurement date and are adjusted to match the duration of the underlying obligation.
For 2007, we plan to use weighted average discount rates of 5.68%, 4.82% and 5.75% for the domestic pension plans, foreign plans and the postretirement plan, respectively.
Changes in the discount rates are generally due to increases or decreases in long-term interest rates.
A higher discount rate will decrease our pension cost.
A 25 basis point increase or decrease in the discount rate would have decreased or increased the 2006 net pension and postretirement cost by $2.3 and $0.1, respectively.
In addition, a 25 basis point increase or decrease in the discount rate would have decreased or increased the December 31, 2006 benefit obligation by $31.4.
The expected rate of return on pension plan assets is another significant assumption that impacts our net pension cost and is determined at the beginning of the year.
Changes in the rates are due to lower or higher expected future returns based on the mix of assets held and studies performed by our external investment advisors.
For 2007, we plan to use weighted average expected rates of return of 8.16% and 7.57% for the domestic and foreign pension plans, respectively.
A lower expected rate of return will increase our net pension cost.
A 25 basis point increase or decrease in the expected return on plan assets would have decreased or increased the 2006 net pension cost by $1.1.
See Note 13 to the Consolidated Financial Statements for further information.
RESULTS OF OPERATIONS Consolidated Results of Operations REVENUE 2006 Compared to 2005
## Table 0 ##
Revenue decreased due to net divestitures partially offset by organic revenue increases and changes in foreign currency exchange rates.
Net divestitures primarily impacted the Integrated Agency Networks (“IAN”) segment, largely from Draftfcb and McCann during 2005.
There were net organic revenue increases in both our international and domestic locations.
The international organic increase was driven by higher revenue from existing clients primarily in the Asia Pacific and Latin America regions partially offset by net client losses, primarily in 2005, at IAN as well as decreases in the events marketing businesses at the Constituency Management Group (“CMG”) in the United Kingdom region.
The domestic organic increase was primarily driven by growth in the public relations and branding businesses at CMG as well as higher revenue from existing clients, partially offset by net client losses and decreased client spending at IAN.
THE INTERPUBLIC GROUP OF COMPANIES, INC.  AND SUBSIDIARIES MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (Continued) (Amounts in Millions, Except Per Share Amounts) businesses was due to revenue decreases due to client losses and increases in salaries and related expenses due to higher bonus awards related to improved domestic performance.
The decrease in other CMG agencies was due to decreased revenue for the reasons described in the revenue section.
Growth at the public relations businesses was driven by increased revenue, partially offset by higher salaries and related expenses from increased headcount to support the growth in the business.
The increase at the branding businesses was driven primarily by higher revenue from existing clients.2005 Compared to 2004 Operatingincomedecreased duetoanincreaseof$23.3insalaryandrelated expensesandanincreaseinoffice and general expenses of $15.8, partially offset by an increase in revenue of $8.4.
The organic operating income decrease was primarily driven by increases in salary expense across all businesses due to increased headcount to address weaknesses in our accounting and control environment.
The decrease was also attributable to increases in salary expenses in the public relations businesses to support revenue growth.
CORPORATE AND OTHER Certaincorporateandotherchargesarereportedasaseparate linewithintotal segmentoperatingincome(loss) and include corporate office expenses and shared services center expenses, as well as certain other centrally managed expenses that are not fully allocated to operating divisions, as shown in the table below.
The amounts allocated to operating divisions are calculated monthly based on a formula that uses the revenues of the operating unit.
Amounts allocated also include specific charges for information technology-related projects, which are allocated based on utilization.
See Note 15 to the Consolidated Financial Statements for further discussion of corporate and other charges.
The following expenses are included in corporate and other
## Table 1 ##
2006 Compared to 2005 Corporate and other expenses decreased primarily due to reduced professional fees and higher amounts allocated to operating divisions,partiallyoffset byhigher rent, depreciation and amortization and increased salaries and related expenses.
We incurred lower professional fees for accounting projects, which included those related to our prior-year restatement activities.
Higher rent, depreciation and amortization were due to software-related costs from our ongoing initiatives to consolidate and upgrade our financial systems, as well as to further develop our shared services.
Salaries and related expenses increased due to higher headcount, primarily related to our technology initiatives, and for larger incentive compensation and bonus awards related to performance.
Amounts allocated to operating divisions increased primarily due to the implementation of new information technology-related projects, the consolidation of information technology support staff, and the allocation of audit fees, which are now being allocated back to operating divisions.2005 Compared to 2004 Corporate and other expenses increased primarily due to higher salaries and related expenses and professional fees.
Salary expenses increased from additional staffing to address weaknesses in our accounting and control
THE INTERPUBLIC GROUP OF COMPANIES, INC.  AND SUBSIDIARIES MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (Continued) (Amounts in Millions, Except Per Share Amounts) CREDIT AGENCY RATINGS Our long-term debt credit ratings as of February 16, 2007 were Ba3 with negative outlook, B CreditWatch negative and B with negative outlook, as reported by Moody’s Investors Service, Standard & Poor’s and Fitch Ratings, respectively.
A downgrade in our credit ratings could adversely affect our ability to access capital and could result in more stringent covenants and higher interest rates under the terms of any new indebtedness.
CONTRACTUAL OBLIGATIONS The following summarizes our estimated contractual obligations at December 31, 2006, and their effect on our liquidity and cash flow in future periods:
## Table 2 ##
1 Holders of our $400.0 4.50% Notes may require us to repurchase their Notes for cash at par in March 2008.
These Notes will mature in 2023 if not converted or repurchased.2 We have structured certain acquisitions with additional contingent purchase price obligations in order to reduce the potential risk associated with negative future performance of the acquired entity.
All payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress.
See Note 18 to the Consolidated Financial Statements for further information.
We have not included obligations under our pension and postretirement benefit plans in the contractual obligations table.
Our funding policy regarding our funded pension plan is to contribute amounts necessary to satisfy minimum pension funding requirements plus such additional amounts from time to time as are determined to be appropriate to improve the plans’ funded status.
The funded status of our pension plans is dependent upon many factors, including returns on invested assets, level of market interest rates and levels of voluntary contributions to the plans.
Declines in long-term interest rates have had a negative impact on the funded status of the plans.
For 2007, we do not expect to contribute to our domestic pension plans, and expect to contribute $20.6 to our foreign pension plans.
We have not included our deferred tax obligations in the contractual obligations table as the timing of any future payments in relation to these obligations is uncertain.
DERIVATIVES AND HEDGING ACTIVITIES We periodically enter into interest rate swap agreements and forward contracts to manage exposure to interest rate fluctuations and to mitigate foreign exchange volatility.
In May of 2005, we terminated all of our long-term interest rate swap agreements covering the $350.0 6.25% Senior Unsecured Notes and $150.0 of the $500.0 7.25% Senior Unsecured Notes.
In connection with the interest rate swap termination, our net cash receipts were $1.1, which is recorded as an offset to interest expense over the remaining life of the related debt.
We have entered into foreign currency transactions in which various foreign currencies are bought or sold forward.
These contracts were entered into to meet currency requirements arising from specific transactions.
The changes in value of these forward contracts have been recorded in other income or expense.
As of December 31, 2006 and 2005, we had contracts covering $0.2 and $6.2, respectively, of notional amount of currency and the fair value of the forward contracts was negligible.
The terms of the 4.50% Notes include two embedded derivative instruments and the terms of our 4.25% Notes and our Series B Preferred Stock each include one embedded derivative instrument.
The fair value of these derivatives on December 31, 2006 was negligible.
ANALOG DEVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) Information pertaining to the Company’s stock option awards and the related estimated weighted-average assumptions to calculate the fair value of stock options granted is as follows:
## Table 3 ##
* Includes options granted under the stock option exchange program which is described below.
Expected volatility — The Company is responsible for estimating volatility and has considered a number of factors, including third-party estimates, when estimating volatility.
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.
Stock-Based Compensation Expense The amount of stock-based compensation expense recognized during a period is based on the value of the awards that are ultimately expected to vest.
Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock-based award.
Based on an analysis of its historical forfeitures, the Company has applied an annual forfeiture rate of 4.3% to all unvested stockbased awards as of October 29, 2011.
The rate of 4.3% represents the portion that is expected to be forfeited each year over the vesting period.
This analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary.
Ultimately, the actual expense recognized over the vesting period will only be for those options that vest.
that occur on or after January 1, 2009, except that presentation and disclosure requirements of SFAS 160 regarding noncontrolling interests will be applied retrospectively.
In June 2008, the FASB ratified EITF Issue No.07-5, “Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock” (“EITF 07-5”).
Equity-linked instruments (or embedded features) that otherwise meet the definition of a derivative as outlined in SFAS No.133, “Accounting for Derivative Instruments and Hedging Activities,” are not accounted for as derivatives if certain criteria are met, one of which is that the instrument (or embedded feature) must be indexed to the entity’s own stock.
EITF 07-5 provides guidance on how to determine if equity-linked instruments (or embedded features) such as warrants to purchase our stock, our convertible notes and convertible note hedges are considered indexed to our stock.
We will adopt EITF 07-5, effective January 1, 2009, and apply its provisions to outstanding instruments as of that date.
The adoption of EITF 07-5 will not have a material impact on our consolidated results of operations, financial position or cash flows.
In December 2007, the FASB ratified EITF No.07-1, “Accounting for Collaborative Agreements” (“EITF 07-1”).
EITF 07-1 provides guidance regarding financial statement presentation and disclosure of collaborative arrangements, as defined, which includes certain arrangements the Company has entered into regarding development and commercialization of products and product candidates.
EITF 07-1 is effective for the Company as of January 1, 2009, and its adoption will not have a material impact on our consolidated results of operations, financial position or cash flows.
Financial Condition, Liquidity and Capital Resources The following table summarizes selected financial data (in millions):
## Table 4 ##
We believe that existing funds, including those generated from our $2.0 billion debt offering in January 2009, cash generated from operations and existing sources of and access to financing are adequate to satisfy our working capital, capital expenditure and debt service requirements for the foreseeable future.
In addition, we plan to opportunistically pursue our stock repurchase programs and other business initiatives, including acquisitions and licensing activities.
Our liquidity needs can be met through a variety of sources, including: cash provided by operating activities, sale of marketable securities, borrowings through commercial paper and/or our syndicated credit facility and other debt markets and equity markets.
(See “Item 1A.
Risk Factors — Current levels of market volatility are unprecedented and adverse capital and credit market conditions may affect our ability to access cost-effective sources of funding and our investment in marketable securities may be subject to market, interest and credit risk that could reduce their value.
”) Cash, cash equivalents and marketable securities Of the total cash, cash equivalents and marketable securities at December 31, 2008, approximately $8.8 billion was generated from operations in foreign tax jurisdictions and is intended for use in our foreign operations.
If these funds were repatriated for use in the United States, we would be required to pay additional U. S.  and state income taxes at the applicable marginal tax rates.
The primary objectives for our marketable security investment portfolio are liquidity and safety of principal.
Investments are made with the objective of achieving the highest rate of return, consistent with these two objectives.
Our investment policy limits investments to certain types of debt and money market instruments issued by institutions primarily with investment grade credit ratings and places restrictions on maturities and concentration by type and issuer.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Dollar amounts in thousands except per share data) Note 14—Business Segments (continued) The measure of profitability for the Investment segment is excess investment income, which represents the income earned on the investment portfolio in excess of net policy requirements and financing costs associated with Torchmark’s debt.
Other than the above-mentioned interest allocations and an intersegment commission, there are no other intersegment revenues or expenses.
Expenses directly attributable to corporate operations are included in the “Corporate” category.
Stock-based compensation expense is considered a corporate expense by Torchmark management and is included in this category.
All other unallocated revenues and expenses on a pretax basis, including insurance administrative expense, are included in the “Other” segment category.
The following tables set forth a reconciliation of Torchmark’s revenues and operations by segment to its major income statement line items.
## Table 5 ##
(1) Medicare Part D items adjusted to GAAP from the segment analysis, which matches expected benefits with policy premium.
(2) Reclassification of interest amount due to accounting rule requiring deconsolidation of Trust Preferred Securities.
(3) Administrative expense is not allocated to insurance segments.
(4) Elimination of intersegment commission.
(5) Amortization of low-income housing expense.

<table><tr><td></td><td></td><td colspan="3"> Components of change during 2006</td><td></td><td colspan="4"> Change</td></tr><tr><td></td><td> 2005</td><td> Foreign   currency</td><td> Net   acquisitions/   (divestitures)</td><td> Organic</td><td> 2006</td><td> Foreign   currency</td><td> Net   acquisitions/   (divestitures)</td><td> Organic</td><td> Total</td></tr><tr><td> Total</td><td>$6,274.3</td><td>20.6</td><td>-165.4</td><td>61.3</td><td>$6,190.8</td><td>0.3%</td><td>-2.6%</td><td>1.0%</td><td>-1.3%</td></tr><tr><td> Domestic</td><td>3,461.1</td><td>—</td><td>-38.3</td><td>18.4</td><td>3,441.2</td><td>—</td><td>-1.1%</td><td>0.5%</td><td>-0.6%</td></tr><tr><td> International</td><td>2,813.2</td><td>20.6</td><td>-127.1</td><td>42.9</td><td>2,749.6</td><td>0.7%</td><td>-4.5%</td><td>1.5%</td><td>-2.3%</td></tr></table>
<table><tr><td></td><td colspan="3"> Years ended December 31,</td><td colspan="2"> Change</td></tr><tr><td></td><td> 2006</td><td> 2005</td><td> 2004</td><td> ’06 vs. ’05</td><td> ’05 vs. ’04</td></tr><tr><td>Salaries and related expenses</td><td>$214.1</td><td>$201.3</td><td>$151.2</td><td>6.4%</td><td>33.1%</td></tr><tr><td>Professional fees</td><td>139.7</td><td>199.3</td><td>145.3</td><td>-29.9%</td><td>37.2%</td></tr><tr><td>Rent, depreciation and amortization</td><td>65.4</td><td>45.3</td><td>38.4</td><td>44.4%</td><td>18.0%</td></tr><tr><td>Corporate insurance</td><td>21.7</td><td>26.0</td><td>29.7</td><td>-16.5%</td><td>-12.5%</td></tr><tr><td>Other</td><td>25.3</td><td>15.2</td><td>16.8</td><td>66.4%</td><td>-9.5%</td></tr><tr><td>Expenses allocated to operating divisions</td><td>-190.9</td><td>-170.8</td><td>-138.2</td><td>11.8%</td><td>23.6%</td></tr><tr><td>Total</td><td>$275.3</td><td>$316.3</td><td>$243.2</td><td>-13.0%</td><td>30.1%</td></tr></table>
<table><tr><td></td><td>2007</td><td>2008</td><td>2009</td><td>2010</td><td>2011</td><td>Thereafter</td><td>Total</td></tr><tr><td>Long-term debt<sup>1</sup></td><td>$2.6</td><td>$2.8</td><td>$257.0</td><td>$240.9</td><td>$500.0</td><td>$1,247.9</td><td>$2,251.2</td></tr><tr><td>Interest payments</td><td>122.0</td><td>116.1</td><td>107.1</td><td>93.6</td><td>75.1</td><td>74.1</td><td>588.0</td></tr><tr><td>Non-cancelable operating lease obligations</td><td>292.3</td><td>265.2</td><td>237.4</td><td>207.9</td><td>181.9</td><td>861.2</td><td>2,045.9</td></tr><tr><td>Contingent acquisition payments<sup>2</sup></td><td>47.2</td><td>34.2</td><td>20.8</td><td>2.5</td><td>2.0</td><td>3.1</td><td>109.8</td></tr></table>
<table><tr><td></td><td> 2011</td><td> 2010</td><td> 2009 Excluding   Option   Exchange   Program</td><td> 2009*</td></tr><tr><td>Options granted (in thousands)</td><td>1,990</td><td>1,866</td><td>5,675</td><td>20,873</td></tr><tr><td>Weighted-average exercise price-stock options</td><td>$37.59</td><td>$31.49</td><td>$19.63</td><td>$25.74</td></tr><tr><td>Weighted-average grant date fair value-stock options</td><td>$8.62</td><td>$7.77</td><td>$7.42</td><td>$5.97</td></tr><tr><td>Assumptions:</td><td></td><td></td><td></td><td></td></tr><tr><td>Weighted-average expected volatility</td><td>29.3%</td><td>31.4%</td><td>58.8%</td><td>41.3%</td></tr><tr><td>Weighted-average expected term (in years)</td><td>5.3</td><td>5.3</td><td>5.3</td><td>4.7</td></tr><tr><td>Risk-free interest rate</td><td>2.1%</td><td>2.5%</td><td>1.7%</td><td>1.4%</td></tr><tr><td>Expected dividend yield</td><td>2.4%</td><td>2.6%</td><td>4.1%</td><td>3.2%</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31,</td></tr><tr><td></td><td> 2008</td><td> 2007</td></tr><tr><td>Cash, cash equivalents and marketable securities</td><td>$9,552</td><td>$7,151</td></tr><tr><td>Total assets</td><td>36,443</td><td>34,639</td></tr><tr><td>Current debt</td><td>1,000</td><td>2,000</td></tr><tr><td>Non-current debt</td><td>9,176</td><td>9,177</td></tr><tr><td>Stockholders’ equity</td><td>20,386</td><td>17,869</td></tr></table>
<table><tr><td></td><td colspan="8">For the Year 2010</td></tr><tr><td></td><td>Life</td><td>Health</td><td>Annuity</td><td>Investment</td><td>Other</td><td>Corporate</td><td> Adjustments</td><td>Consolidated</td></tr><tr><td>Revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Premium</td><td>$1,663,699</td><td>$987,937</td><td>$638</td><td></td><td></td><td></td><td>$-516 (1)</td><td>$2,651,758</td></tr><tr><td>Net investment income</td><td></td><td></td><td></td><td>$685,253</td><td></td><td></td><td>-8,889 (2,5)</td><td>676,364</td></tr><tr><td>Other income</td><td></td><td></td><td></td><td></td><td>$2,834</td><td></td><td>-664 (4)</td><td>2,170</td></tr><tr><td>Total revenue</td><td>1,663,699</td><td>987,937</td><td>638</td><td>685,253</td><td>2,834</td><td></td><td>-10,069</td><td>3,330,292</td></tr><tr><td>Expenses:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Policy benefits</td><td>1,082,423</td><td>669,707</td><td>41,430</td><td></td><td></td><td></td><td>-516 (1)</td><td>1,793,044</td></tr><tr><td>Required interest on net reserves</td><td>-434,319</td><td>-35,368</td><td>-51,996</td><td>521,683</td><td></td><td></td><td></td><td>-0-</td></tr><tr><td>Amortization of acquisition costs</td><td>487,770</td><td>130,238</td><td>9,722</td><td>-208,840</td><td></td><td></td><td></td><td>418,890</td></tr><tr><td>Commissions and premium tax</td><td>72,559</td><td>53,301</td><td>134</td><td></td><td></td><td></td><td>-664 (4)</td><td>125,330</td></tr><tr><td>Insurance administrative expense<sup></sup>-3</td><td></td><td></td><td></td><td></td><td>155,615</td><td></td><td></td><td>155,615</td></tr><tr><td>Parent expense</td><td></td><td></td><td></td><td></td><td></td><td>$8,809</td><td></td><td>8,809</td></tr><tr><td>Stock-based compensation expense</td><td></td><td></td><td></td><td></td><td></td><td>11,848</td><td></td><td>11,848</td></tr><tr><td>Interest expense</td><td></td><td></td><td></td><td>75,265</td><td></td><td></td><td>264-2</td><td>75,529</td></tr><tr><td>Total expenses</td><td>1,208,433</td><td>817,878</td><td>-710</td><td>388,108</td><td>155,615</td><td>20,657</td><td>-916</td><td>2,589,065</td></tr><tr><td>Measure of segment profitability (pretax)</td><td>$455,266</td><td>$170,059</td><td>$1,348</td><td>$297,145</td><td>$-152,781</td><td>$-20,657</td><td>-9,153</td><td>741,227</td></tr><tr><td colspan="7">Deduct applicable income taxes</td><td>9,153-5</td><td>-243,204</td></tr><tr><td colspan="7">Segment profits after tax</td><td>$-0-</td><td>498,023</td></tr><tr><td colspan="8">Add back income taxes applicable to segment profitability</td><td>243,204</td></tr><tr><td colspan="8">Add (deduct) realized investment gains (losses) and impairments</td><td>37,340</td></tr><tr><td colspan="8">Pretax income per Consolidated Statement of Operations</td><td>$778,567</td></tr></table>

Question: In the year with the most Other, what is the growth rate of Corporate insurance?