Risks Related to Our Common Stock Our stock price is extremely volatile.
The trading price of our common stock has been extremely volatile and may continue to be volatile in the future.
Many factors could have an impact on our stock price, including fluctuations in our or our competitors’ operating results, clinical trial results or adverse events associated with our products, product development by us or our competitors, changes in laws, including healthcare, tax or intellectual property laws, intellectual property developments, changes in reimbursement or drug pricing, the existence or outcome of litigation or government proceedings, including the SEC/DOJ investigation, failure to resolve, delays in resolving or other developments with respect to the issues raised in the Warning Letter, acquisitions or other strategic transactions, and the perceptions of our investors that we are not performing or meeting expectations.
The trading price of the common stock of many biopharmaceutical companies, including ours, has experienced extreme price and volume fluctuations, which have at times been unrelated to the operating performance of the companies whose stocks were affected.
Anti-takeover provisions in our charter and bylaws and under Delaware law could make a third-party acquisition of us difficult and may frustrate any attempt to remove or replace our current management.
Our corporate charter and by-law provisions may discourage certain types of transactions involving an actual or potential change of control that might be beneficial to us or our stockholders.
Our bylaws provide that special meetings of our stockholders may be called only by the Chairman of the Board, the President, the Secretary, or a majority of the Board of Directors, or upon the written request of stockholders who together own of record 25% of the outstanding stock of all classes entitled to vote at such meeting.
Our bylaws also specify that the authorized number of directors may be changed only by resolution of the board of directors.
Our charter does not include a provision for cumulative voting for directors, which may have enabled a minority stockholder holding a sufficient percentage of a class of shares to elect one or more directors.
Under our charter, our board of directors has the authority, without further action by stockholders, to designate up to 5 shares of preferred stock in one or more series.
The rights of the holders of common stock will be subject to, and may be adversely affected by, the rights of the holders of any class or series of preferred stock that may be issued in the future.
Because we are a Delaware corporation, the anti-takeover provisions of Delaware law could make it more difficult for a third party to acquire control of us, even if the change in control would be beneficial to stockholders.
We are subject to the provisions of Section 203 of the Delaware General Laws, which prohibits a person who owns in excess of 15% of our outstanding voting stock from merging or combining with us for a period of three years after the date of the transaction in which the person acquired in excess of 15% of our outstanding voting stock, unless the merger or combination is approved in a prescribed manner.
Item 1B.
UNRESOLVED STAFF COMMENTS.
None.
Item 2.
PROPERTIES.
We conduct our primary operations at the owned and leased facilities described below.
## Table 0 ##
We believe that our administrative office space is adequate to meet our needs for the foreseeable future.
We also believe that our research and development facilities and our manufacturing facilities, together with third party manufacturing facilities, will be adequate for our on-going activities.
In addition to the locations above, we also lease space in other U. S.  locations and in foreign countries to support our operations as a global organization.
## Table 1 ##
(1) Presents reconciliations of non-GAAP measures to GAAP financial measures.
We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation.
Other companies may define or calculate non-GAAP measures differently.
For more information on non-GAAP measures and ratios we use in assessing the results of the Corporation, see Supplemental Financial Data beginning on page 40.
(2) On February 24, 2010, the common equivalent shares converted into common shares.
THE HARTFORD FINANCIAL SERVICES GROUP, INC.  Notes to Consolidated Financial Statements (continued) 18.
Employee Benefit Plans (CONTINUED) In 2016, the Company, at its discretion, made $300 in contributions to the U. S.  qualified defined benefit pension plan.
The Company does not have a 2017 required minimum funding contribution for the U. S.  qualified defined benefit pension plan.
The Company has not determined whether, and to what extent, contributions may be made to the U.  S.  qualified defined benefit pension plan in 2017.
The Company will monitor the funded status of the U. S.  qualified defined benefit pension plan during 2017 to make this determination.
Employer contributions in 2016 and 2015 were made in cash and did not include contributions of the Company’s common stock.
Benefit Payments Amounts of Benefits Expected to be Paid over the next Ten Years from Pension and other Postretirement Plans as of December 31, 2016
## Table 2 ##
19.
STOCK COMPENSATION PLANS The Company’s stock-based compensation plans are described below.
Shares issued in satisfaction of stock-based compensation may be made available from authorized but unissued shares, shares held by the Company in treasury or from shares purchased in the open market.
In 2016, 2015 and 2014, the Company issued shares from treasury in satisfaction of stock-based compensation.
Stock-Based Compensation Expense
## Table 3 ##
In 2014, the Company modified a former executive’s awards to receive retirement treatment.
The incremental compensation cost resulting from the modifications totaled $16 of which $11 was recognized at the modification date.
The remainder is recognized over the remaining service period.
The Company did not capitalize any cost of stock-based compensation.
As of December 31, 2016, the total compensation cost related to non-vested awards not yet recognized was $89, which is expected to be recognized over a weighted average period of 1.8 years Stock Plan On May 21, 2014, at the Company’s Annual Meeting of Shareholders, the shareholders approved The Hartford 2014 Incentive Stock Plan (the “Incentive Stock Plan”) which supersedes and replaces earlier incentive stock plans and as a result is currently the only plan pursuant to which future stock-based awards may be granted (other than the Subsidiary Stock Plan and the Employee Stock Purchase Plan described below).
The terms of the Incentive Stock Plan are substantially similar to the terms of the earlier incentive stock plans, with changes primarily to ensure alignment with market practices and simplify administration.
These changes did not result in incremental compensation cost for outstanding awards.
The Incentive Stock Plan provides for awards to be granted in the form of non-qualified or incentive stock options qualifying under Section 422 of the Internal Revenue Code, stock appreciation rights, performance shares, restricted stock or restricted stock units, or any other form of stock-based award.
The maximum number of shares, subject to adjustments set forth in the Incentive Stock Plan, that may be issued to Company employees and third party service providers during the 10-year duration of the Incentive Stock Plan is 12,000,000 shares.
If any award under an earlier incentive stock plan is forfeited, terminated, surrendered, exchanged, expires unexercised, or is settled in cash in lieu of stock (including to effect tax withholding) or for the net issuance of a lesser number of shares than the number subject to the award, the shares of stock subject to such award (or the relevant portion thereof) shall be available for awards under the Incentive Stock Plan and such shares shall be added to the maximum limit.
As of December 31, 2016, there were 8,535,500 shares available for future issuance.
Investment Activities Investment activities in 2009 were down significantly from 2008 reflecting reduced capital spending and no significant acquisitions.
Capital spending for continuing operations was $534 million in 2009, or 36% of depreciation and amortization, compared with $1.0 billion in 2008, or 74% of depreciation and amortization, and $1.3 billion, or 119% of depreciation and amortization in 2007.
The following table shows capital spending for continuing operations by business segment for the years ended December 31, 2009, 2008 and 2007.

<table><tr><td>Location</td><td>Operations Conducted</td><td>ApproximateSquare Feet</td><td>LeaseExpirationDates</td></tr><tr><td>New Haven, Connecticut</td><td>Corporate headquarters and executive, sales, research and development offices</td><td>514,000</td><td>2030</td></tr><tr><td>Dublin, Ireland</td><td>Global supply chain, distribution, and administration offices</td><td>160,000</td><td>Owned</td></tr><tr><td>Athlone, Ireland</td><td>Commercial, research and development manufacturing</td><td>80,000</td><td>Owned</td></tr><tr><td>Lexington, Massachusetts</td><td>Research and development offices</td><td>81,000</td><td>2019</td></tr><tr><td>Bogart, Georgia</td><td>Commercial, research and development manufacturing</td><td>70,000</td><td>Owned</td></tr><tr><td>Smithfield, Rhode Island</td><td>Commercial, research and development manufacturing</td><td>67,000</td><td>Owned</td></tr><tr><td>Zurich, Switzerland</td><td>Regional executive and sales offices</td><td>69,000</td><td>2025</td></tr></table>
<table><tr><td></td><td colspan="4">2010 Quarters</td><td colspan="4">2009 Quarters</td></tr><tr><td>(Dollars in millions, except per share information)</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td> Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest income</td><td>$12,439</td><td>$12,435</td><td>$12,900</td><td>$13,749</td><td>$11,559</td><td>$11,423</td><td>$11,630</td><td>$12,497</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>270</td><td>282</td><td>297</td><td>321</td><td>337</td><td>330</td><td>312</td><td>322</td></tr><tr><td> Net interest income on a fully taxable-equivalent basis</td><td>$12,709</td><td>$12,717</td><td>$13,197</td><td>$14,070</td><td>$11,896</td><td>$11,753</td><td>$11,942</td><td>$12,819</td></tr><tr><td> Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total revenue, net of interest expense</td><td>$22,398</td><td>$26,700</td><td>$29,153</td><td>$31,969</td><td>$25,076</td><td>$26,035</td><td>$32,774</td><td>$35,758</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>270</td><td>282</td><td>297</td><td>321</td><td>337</td><td>330</td><td>312</td><td>322</td></tr><tr><td> Total revenue, net of interest expense on a fully taxable-equivalent basis</td><td>$22,668</td><td>$26,982</td><td>$29,450</td><td>$32,290</td><td>$25,413</td><td>$26,365</td><td>$33,086</td><td>$36,080</td></tr><tr><td> Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total noninterest expense</td><td>$20,864</td><td>$27,216</td><td>$17,253</td><td>$17,775</td><td>$16,385</td><td>$16,306</td><td>$17,020</td><td>$17,002</td></tr><tr><td>Goodwill impairment charges</td><td>-2,000</td><td>-10,400</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td> Total noninterest expense, excluding goodwill impairment charges</td><td>$18,864</td><td>$16,816</td><td>$17,253</td><td>$17,775</td><td>$16,385</td><td>$16,306</td><td>$17,020</td><td>$17,002</td></tr><tr><td> Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax expense (benefit)</td><td>$-2,351</td><td>$1,387</td><td>$672</td><td>$1,207</td><td>$-1,225</td><td>$-975</td><td>$-845</td><td>$1,129</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>270</td><td>282</td><td>297</td><td>321</td><td>337</td><td>330</td><td>312</td><td>322</td></tr><tr><td> Income tax expense (benefit) on a fully taxable-equivalent basis</td><td>$-2,081</td><td>$1,669</td><td>$969</td><td>$1,528</td><td>$-888</td><td>$-645</td><td>$-533</td><td>$1,451</td></tr><tr><td> Reconciliation of net income (loss) to net income (loss), excluding goodwill impairment charges</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income (loss)</td><td>$-1,244</td><td>$-7,299</td><td>$3,123</td><td>$3,182</td><td>$-194</td><td>$-1,001</td><td>$3,224</td><td>$4,247</td></tr><tr><td>Goodwill impairment charges</td><td>2,000</td><td>10,400</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td> Net income (loss), excluding goodwill impairment charges</td><td>$756</td><td>$3,101</td><td>$3,123</td><td>$3,182</td><td>$-194</td><td>$-1,001</td><td>$3,224</td><td>$4,247</td></tr><tr><td> Reconciliation of net income (loss) applicable to common shareholders to net income (loss) applicable to common shareholders, excluding goodwill impairment charges</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income (loss) applicable to common shareholders</td><td>$-1,565</td><td>$-7,647</td><td>$2,783</td><td>$2,834</td><td>$-5,196</td><td>$-2,241</td><td>$2,419</td><td>$2,814</td></tr><tr><td>Goodwill impairment charges</td><td>2,000</td><td>10,400</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td> Net income (loss) applicable to common shareholders, excluding goodwill impairment charges</td><td>$435</td><td>$2,753</td><td>$2,783</td><td>$2,834</td><td>$-5,196</td><td>$-2,241</td><td>$2,419</td><td>$2,814</td></tr><tr><td> Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Common shareholders’ equity</td><td>$218,728</td><td>$215,911</td><td>$215,468</td><td>$200,380</td><td>$197,123</td><td>$197,230</td><td>$173,497</td><td>$160,739</td></tr><tr><td>Common Equivalent Securities</td><td>–</td><td>–</td><td>–</td><td>11,760</td><td>4,811</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Goodwill</td><td>-75,584</td><td>-82,484</td><td>-86,099</td><td>-86,334</td><td>-86,053</td><td>-86,170</td><td>-87,314</td><td>-84,584</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-10,211</td><td>-10,629</td><td>-11,216</td><td>-11,906</td><td>-12,556</td><td>-13,223</td><td>-13,595</td><td>-9,461</td></tr><tr><td>Related deferred tax liabilities</td><td>3,121</td><td>3,214</td><td>3,395</td><td>3,497</td><td>3,712</td><td>3,725</td><td>3,916</td><td>3,977</td></tr><tr><td> Tangible common shareholders’ equity</td><td>$136,054</td><td>$126,012</td><td>$121,548</td><td>$117,397</td><td>$107,037</td><td>$101,562</td><td>$76,504</td><td>$70,671</td></tr></table>
<table><tr><td></td><td>Pension Benefits</td><td>Other Postretirement Benefits</td></tr><tr><td>2017</td><td>$333</td><td>$33</td></tr><tr><td>2018</td><td>339</td><td>30</td></tr><tr><td>2019</td><td>346</td><td>27</td></tr><tr><td>2020</td><td>353</td><td>24</td></tr><tr><td>2021</td><td>352</td><td>22</td></tr><tr><td>2022 - 2026</td><td>1,748</td><td>82</td></tr><tr><td>Total</td><td>$3,471</td><td>$218</td></tr></table>
<table><tr><td></td><td colspan="3">For the years ended December 31,</td></tr><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Stock-based compensation plans expense</td><td>$81</td><td>$78</td><td>$98</td></tr><tr><td>Income tax benefit</td><td>-29</td><td>-27</td><td>-34</td></tr><tr><td>Total stock-based compensation plans expense, after-tax</td><td>$52</td><td>$51</td><td>$64</td></tr></table>

Question: In what year is net interest income greater than 50000?