For additional information about the development of our businesses, our business operations, and factors affecting our operations and financial position, see Management’s Discussion and Analysis of Financial Condition and Results of Operations under Part II, Item 7, of this report and Note 1 – Summary of Significant Accounting Policies under Part II, Item 8, of this report.
BUSINESS SEGMENTS Ameren has two reportable segments: Ameren Missouri and Ameren Illinois.
See Note 17 – Segment Information under Part II, Item 8, of this report for additional information on reporting segments.
RATES AND REGULATION Rates The rates that Ameren Missouri, Ameren Illinois and ATXI are allowed to charge for their utility services significantly influence the results of operations, financial position, and liquidity of these companies and Ameren.
The electric and natural gas utility industry is highly regulated.
The utility rates charged to customers are determined, in large part, by governmental entities, including the MoPSC, the ICC, and FERC.
Decisions by these entities are influenced by many factors, including the cost of providing service, the prudency of expenditures, the quality of service, regulatory staff knowledge and experience, customer intervention, economic conditions, public policy, and social and political views.
Decisions made by these governmental entities regarding rates are largely outside of our control.
These decisions, as well as the regulatory lag involved in filing and getting new rates approved, could have a material impact on the results of operations, financial position, and liquidity of Ameren, Ameren Missouri and Ameren Illinois.
The extent of the regulatory lag varies for each of Ameren’s electric and natural gas jurisdictions, with our FERCregulated electric jurisdictions experiencing the least amount of regulatory lag.
The effects of regulatory lag are mitigated through a variety of means including the use of a future test year, the implementation of trackers and riders, the deferral of depreciation for assets not yet included in rate base, and by regulatory frameworks that include annual revenue requirement reconciliations.
The ICC regulates rates and other matters for Ameren Illinois and the ICC regulates non-rate utility matters for ATXI.
ATXI does not have retail distribution customers, and therefore the ICC does not have authority to regulate its rates.
The MoPSC regulates rates and other matters for Ameren Missouri.
FERC regulates Ameren Missouri, Ameren Illinois and ATXI as to their ability to charge market-based rates for the wholesale sale and transmission of energy in interstate commerce and various other matters discussed below under General Regulatory Matters.
The following table summarizes, by rate jurisdiction, the rate orders in effect for customer billings for each of Ameren’s rate-regulated utilities as of January 1, 2014.
## Table 0 ##
(a) Includes pass-through costs recovered from customers, such as purchased power for electric distribution delivery service and gas purchased for resale for natural gas delivery service.
(b) Ameren Missouri electric generation, transmission, and delivery service rates are bundled together and charged to retail customers under a combined electric service rate.
(c) Based on MoPSC’s December 2012 rate order, which became effective on January 2, 2013.
(d) Based on MoPSC’s January 2011 rate order, which became effective on February 20, 2011.
(e) Ameren Missouri’s last natural gas rate order did not specify the allowed return on equity or rate base.
(f) Based on the ICC’s December 2013 rate order, which became effective on January 1, 2014.
The December 2013 rate order was based on 2012 recoverable costs, expected net plant additions for 2013, and the monthly yields during 2012 of the 30-year United States treasury bonds plus 580 basis points.
Ameren Illinois’ 2014 electric distribution delivery service revenues will be based on its 2014 actual recoverable costs, rate base, and return on common equity, as calculated under the IEIMA’s performance-based formula ratemaking framework.
(g) Based on the ICC’s December 2013 rate order, which became effective on January 1, 2014.
The rate order was based on a 2014 future test year.
(h) Transmission rates are updated and become effective each January using a company-specific, forward-looking rate formula framework, which is based on that year’s forecasted information.
(i) Less than 1%.
Table X Selected Quarterly Financial Data
## Table 1 ##
(1) The results for 2015 were impacted by the early adoption of new accounting guidance on recognition and measurement of financial instruments.
For additional information, see Executive Summary – Recent Events on page 20.
(2) The diluted earnings (loss) per common share excluded the effect of any equity instruments that are antidilutive to earnings per share.
There were no potential common shares that were dilutive in the third and first quarters of 2014 because of the net loss applicable to common shareholders.
(3) Calculated as total net income (loss) for four consecutive quarters divided by annualized average assets for four consecutive quarters.
(4) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.
Other companies may define or calculate these measures differently.
For more information on these ratios, see Supplemental Financial Data on page 28, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XV.
(5) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 64.
(6) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.
(7) Balances and ratios do not include loans accounted for under the fair value option.
For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio Credit Risk Management – Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 73 and corresponding Table 35, and Commercial Portfolio Credit Risk Management – Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 80 and corresponding Table 44.
(8) Primarily includes amounts allocated to the U. S.  credit card and unsecured consumer lending portfolios in Consumer Banking, PCI loans and the non-U.
S.  credit card portfolio in All Other.
(9) Net charge-offs exclude $82 million, $148 million, $290 million and $288 million of write-offs in the PCI loan portfolio in the fourth, third, second and first quarters of 2015, respectively, and $13 million, $246 million, $160 million and $391 million in the fourth, third, second and first quarters of 2014, respectively.
For more information on PCI write-offs, see Consumer Portfolio Credit Risk Management – Purchased Credit-impaired Loan Portfolio on page 71.
(10) Capital ratios reported under Advanced approaches in the fourth quarter of 2015.
Prior to fourth quarter of 2015, we were required to report regulatory capital ratios under the Standardized approach only.
For additional information, see Capital Management on page 51.  n/m = not meaningful
ENTERGY ARKANSAS, INC.  AND SUBSIDIARIES MANAGEMENT’S FINANCIAL DISCUSSION AND ANALYSIS Results of Operations Net Income 2017 Compared to 2016 Net income decreased $27.4 million primarily due to higher nuclear refueling outage expenses, higher depreciation and amortization expenses, higher taxes other than income taxes, and higher interest expense, partially offset by higher other income.2016 Compared to 2015 Net income increased $92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses, partially offset by a higher effective income tax rate and higher depreciation and amortization expenses.
Net Revenue 2017 Compared to 2016 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 (credits). ?
?Following is an analysis of the change in net revenue comparing 2017 to 2016.
## Table 2 ##
The retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of January 2017 and an increase in base rates effective February 24, 2016, each as approved by the APSC.
A significant portion of the base rate increase was related to the purchase of Power Block 2 of the Union Power Station in March 2016.
The increase was partially offset by decreases in the energy efficiency rider, as approved by the APSC, effective April 2016 and January 2017.
See Note 2 to the financial statements for further discussion of the rate case and formula rate plan filings.
See Note 14 to the financial statements for further discussion of the Union Power Station purchase.
The opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 FERC orders in the opportunity sales proceeding attributable to wholesale customers.
See Note 2 to the financial statements for further discussion of the opportunity sales proceeding.
Unaudited Pro Forma Results of Operations.
The following table presents pro forma results of operations and gives effect to the Numerical acquisition as if the acquisition was consummated at the beginning of fiscal 2002.
The Company has not included the effect of its other fiscal 2003 acquisitions as if the acquisitions were consummated at the beginning of fiscal 2002 because the effects of these acquisitions were not material.
The Company’s results of operations may have been different than those shown below if the Company had actually acquired Numerical at the beginning of fiscal 2002.
Pro forma results below do not necessarily indicate future operating results.

<table><tr><td></td><td>Regulator</td><td>Allowed Return on Equity</td><td>Percent of Common Equity</td><td>Rate Base (in billions)</td><td>Portion of Ameren's 2013 Operating Revenues(a)</td></tr><tr><td>Ameren Missouri</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric service<sup>(b)(c)</sup></td><td>MoPSC</td><td>9.8%</td><td>52.3%</td><td>$6.8</td><td>58%</td></tr><tr><td>Natural gas delivery service<sup>(d)</sup></td><td>MoPSC(e)</td><td></td><td>52.9%</td><td>$0.2<sup>(e)</sup></td><td>3%</td></tr><tr><td>Ameren Illinois</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric distribution delivery service<sup>(f)</sup></td><td>ICC</td><td>8.7%</td><td>51.0%</td><td>$2.0</td><td>23%</td></tr><tr><td>Natural gas delivery service<sup>(g)</sup></td><td>ICC</td><td>9.1%</td><td>51.7%</td><td>$1.1</td><td>14%</td></tr><tr><td>Electric transmission delivery service<sup>(h)</sup></td><td>FERC</td><td>12.38%</td><td>55.2%</td><td>$0.7</td><td>2%</td></tr><tr><td>ATXI</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric transmission delivery service<sup>(h)</sup></td><td>FERC</td><td>12.38%</td><td>56.0%</td><td>$0.2(i)</td><td></td></tr></table>
<table><tr><td></td><td colspan="4">2015 Quarters<sup>-1</sup></td><td colspan="4">2014 Quarters</td></tr><tr><td>(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>Income statement</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>$9,801</td><td>$9,511</td><td>$10,488</td><td>$9,451</td><td>$9,635</td><td>$10,219</td><td>$10,013</td><td>$10,085</td></tr><tr><td>Noninterest income</td><td>9,727</td><td>10,870</td><td>11,328</td><td>11,331</td><td>9,090</td><td>10,990</td><td>11,734</td><td>12,481</td></tr><tr><td>Total revenue, net of interest expense</td><td>19,528</td><td>20,381</td><td>21,816</td><td>20,782</td><td>18,725</td><td>21,209</td><td>21,747</td><td>22,566</td></tr><tr><td>Provision for credit losses</td><td>810</td><td>806</td><td>780</td><td>765</td><td>219</td><td>636</td><td>411</td><td>1,009</td></tr><tr><td>Noninterest expense</td><td>13,871</td><td>13,808</td><td>13,818</td><td>15,695</td><td>14,196</td><td>20,142</td><td>18,541</td><td>22,238</td></tr><tr><td>Income (loss) before income taxes</td><td>4,847</td><td>5,767</td><td>7,218</td><td>4,322</td><td>4,310</td><td>431</td><td>2,795</td><td>-681</td></tr><tr><td>Income tax expense (benefit)</td><td>1,511</td><td>1,446</td><td>2,084</td><td>1,225</td><td>1,260</td><td>663</td><td>504</td><td>-405</td></tr><tr><td>Net income (loss)</td><td>3,336</td><td>4,321</td><td>5,134</td><td>3,097</td><td>3,050</td><td>-232</td><td>2,291</td><td>-276</td></tr><tr><td>Net income (loss) applicable to common shareholders</td><td>3,006</td><td>3,880</td><td>4,804</td><td>2,715</td><td>2,738</td><td>-470</td><td>2,035</td><td>-514</td></tr><tr><td>Average common shares issued and outstanding</td><td>10,399</td><td>10,444</td><td>10,488</td><td>10,519</td><td>10,516</td><td>10,516</td><td>10,519</td><td>10,561</td></tr><tr><td>Average diluted common shares issued and outstanding<sup>-2</sup></td><td>11,153</td><td>11,197</td><td>11,238</td><td>11,267</td><td>11,274</td><td>10,516</td><td>11,265</td><td>10,561</td></tr><tr><td>Performance ratios</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Return on average assets</td><td>0.61%</td><td>0.79%</td><td>0.96%</td><td>0.59%</td><td>0.57%</td><td>n/m</td><td>0.42%</td><td>n/m</td></tr><tr><td>Four quarter trailing return on average assets<sup>-3</sup></td><td>0.74</td><td>0.73</td><td>0.52</td><td>0.38</td><td>0.23</td><td>0.24%</td><td>0.37</td><td>0.45%</td></tr><tr><td>Return on average common shareholders’ equity</td><td>5.08</td><td>6.65</td><td>8.42</td><td>4.88</td><td>4.84</td><td>n/m</td><td>3.68</td><td>n/m</td></tr><tr><td>Return on average tangible common shareholders’ equity<sup>-4</sup></td><td>7.32</td><td>9.65</td><td>12.31</td><td>7.19</td><td>7.15</td><td>n/m</td><td>5.47</td><td>n/m</td></tr><tr><td>Return on average tangible shareholders’ equity<sup>-4</sup></td><td>7.15</td><td>9.43</td><td>11.51</td><td>7.24</td><td>7.08</td><td>n/m</td><td>5.64</td><td>n/m</td></tr><tr><td>Total ending equity to total ending assets</td><td>11.95</td><td>11.89</td><td>11.71</td><td>11.67</td><td>11.57</td><td>11.24</td><td>10.94</td><td>10.79</td></tr><tr><td>Total average equity to total average assets</td><td>11.79</td><td>11.71</td><td>11.67</td><td>11.49</td><td>11.39</td><td>11.14</td><td>10.87</td><td>11.06</td></tr><tr><td>Dividend payout</td><td>17.27</td><td>13.43</td><td>10.90</td><td>19.38</td><td>19.21</td><td>n/m</td><td>5.16</td><td>n/m</td></tr><tr><td>Per common share data</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Earnings (loss)</td><td>$0.29</td><td>$0.37</td><td>$0.46</td><td>$0.26</td><td>$0.26</td><td>$-0.04</td><td>$0.19</td><td>$-0.05</td></tr><tr><td>Diluted earnings (loss)<sup>(2)</sup></td><td>0.28</td><td>0.35</td><td>0.43</td><td>0.25</td><td>0.25</td><td>-0.04</td><td>0.19</td><td>-0.05</td></tr><tr><td>Dividends paid</td><td>0.05</td><td>0.05</td><td>0.05</td><td>0.05</td><td>0.05</td><td>0.05</td><td>0.01</td><td>0.01</td></tr><tr><td>Book value</td><td>22.54</td><td>22.41</td><td>21.91</td><td>21.66</td><td>21.32</td><td>20.99</td><td>21.16</td><td>20.75</td></tr><tr><td>Tangible book value<sup>-4</sup></td><td>15.62</td><td>15.50</td><td>15.02</td><td>14.79</td><td>14.43</td><td>14.09</td><td>14.24</td><td>13.81</td></tr><tr><td>Market price per share of common stock</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Closing</td><td>$16.83</td><td>$15.58</td><td>$17.02</td><td>$15.39</td><td>$17.89</td><td>$17.05</td><td>$15.37</td><td>$17.20</td></tr><tr><td>High closing</td><td>17.95</td><td>18.45</td><td>17.67</td><td>17.90</td><td>18.13</td><td>17.18</td><td>17.34</td><td>17.92</td></tr><tr><td>Low closing</td><td>15.38</td><td>15.26</td><td>15.41</td><td>15.15</td><td>15.76</td><td>14.98</td><td>14.51</td><td>16.10</td></tr><tr><td>Market capitalization</td><td>$174,700</td><td>$162,457</td><td>$178,231</td><td>$161,909</td><td>$188,141</td><td>$179,296</td><td>$161,628</td><td>$181,117</td></tr></table>
<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2016 net revenue</td><td>$1,520.5</td></tr><tr><td>Retail electric price</td><td>33.8</td></tr><tr><td>Opportunity sales</td><td>5.6</td></tr><tr><td>Asset retirement obligation</td><td>-14.8</td></tr><tr><td>Volume/weather</td><td>-29.0</td></tr><tr><td>Other</td><td>6.5</td></tr><tr><td>2017 net revenue</td><td>$1,522.6</td></tr></table>

Question: Which year is Provision for credit losses the most?