Company Stock Performance The following graph shows a comparison of cumulative total shareholder return, calculated on a dividend reinvested basis, for the Company, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U. S.  Technology Supersector Index for the five years ended September 30, 2017.
The graph assumes $100 was invested in each of the Company’s common stock, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U. S.  Technology Supersector Index as of the market close on September 28, 2012.
Note that historic stock price performance is not necessarily indicative of future stock price performance.
## Table 0 ##
$100 invested on 9/28/12 in stock or index, including reinvestment of dividends.
Data points are the last day of each fiscal year for the Company’s common stock and September 30th for indexes.
Copyright?2017 S&P, a division of McGraw Hill Financial.
All rights reserved.
Copyright?2017 Dow Jones & Co.  All rights reserved.
The following table provides the change in income from continuing operations by segment, excluding Travelers, and certain transactions as mentioned above:
## Table 1 ##
The Institutional segment’s income from continuing operations decreased primarily due to an increase in net investment losses, a decline in interest margins, an increase in operating expenses, which included a charge associated with costs related to the sale of certain small market recordkeeping businesses, a charge associated with non-deferrable LTC commissions expense and a charge associated with costs related to a previously announced regulatory settlement, partially offset by the impact of integration costs in the prior year and favorable underwriting results.
The Individual segment’s income from continuing operations decreased as a result of an increase in net investment losses, a decline in interest margins, higher expenses and annuity benefits, as well as increases in interest credited to policyholder account balances (“PABs”) and policyholder dividends.
These decreases were partially offset by increased fee income related to the growth in separate account products, favorable underwriting results in life products, lower DAC amortization and a decrease in the closed block-related policyholder dividend obligation.
Income from continuing operations in Corporate & Other decreased primarily due to higher investment losses, higher interest expense on debt, corporate support expenses, interest credited to bankholder deposits and legal-related costs, partially offset by an increase in tax benefits, an increase in net investment income, lower integration costs and an increase in other revenues.
The decrease in income from continuing operations in the International segment was primarily the result of a decrease in Taiwan due to a loss recognition adjustment and a restructuring charge, partially offset by reserve refinements associated with the implementation of a new valuation system.
Income from continuing operations decreased in Canada primarily due to the realignment of economic capital in the prior year.
Income from continuing operations in Mexico decreased primarily due to an increase in amortization of DAC, higher operating expenses, the net impact of an adjustment to the liability for experience refunds on a block of business, a decrease in various one-time other revenue items in both periods, as well as an increase in income tax expense due to a tax benefit realized in the prior year.
These decreases in Mexico were partially offset by a decrease in certain policyholder liabilities caused by a decrease in unrealized investment gains on invested assets supporting those liabilities relative to the prior year, a decrease in policyholder benefits associated with a large group policy that was not renewed by the policyholder, a benefit in the current year from the release of liabilities for pending claims that were determined to be invalid following a review, and the unfavorable impact in the prior year of contingent liabilities.
In addition, a decrease in Brazil was primarily due to an increase in policyholder benefits and claims related to an increase in future policyholder benefit liabilities on specific blocks of business and an increase in litigation liabilities, as well as adverse claim experience in the current year.
The home office recorded higher infrastructure expenditures in support of segment growth, as well as a contingent tax liability.
Results of the Company’s investment in Japan decreased primarily due to variability in the hedging program.
In addition, expenses related to the Company’s start-up operations in Ireland reduced income from continuing operations.
A valuation allowance was established against the deferred tax benefit resulting from the Ireland losses.
Partially offsetting these decreases in income from continuing operations were increases in Chile and the United Kingdom due to continued growth of the in-force business, as well as an increase in Australia due to reserve strengthening on a block of business in the prior year.
South Korea’s income from continuing operations increased due to growth in the in-force business and the implementation of a more refined reserve valuation system.
Higher net investment income resulting from capital contributions, the release of liabilities for pending claims that were determined to be invalid following a review, the favorable impact of foreign currency exchange rates and inflation rates on certain contingent liabilities, the utilization of net operating losses for which a valuation allowance had been previously established, and an increase in the prior year period of a deferred income tax valuation allowance, as well as business growth, increased income from continuing operations in Argentina.
Changes in foreign currency exchange rates also contributed to the increase.
Partially offsetting the decreases in income from continuing operations was an increase in the Auto & Home segment primarily due to a loss in the third quarter of 2005 related to Hurricane Katrina, favorable development of prior year loss reserves, improvement in noncatastrophe loss experience and a reduction in loss adjustment expenses.
These increases were partially offset by higher catastrophe losses, excluding Hurricanes Katrina and Wilma, in the current year period, and decreases in net earned premiums, other revenues, and net investment income, as well as an increase in other expenses.
Income from continuing operations in the Reinsurance segment increased primarily due to added business in-force from facultative and automatic treaties and renewal premiums on existing blocks of business in the U. S.  and international operations, an increase in net investment income due to growth in the invested asset base and an increase in other revenues.
These items were partially offset by unfavorable mortality experience, an increase in liabilities associated with Reinsurance Group of America, Incorporated’s (“RGA”) Argentine pension business in the prior period and an increase in other expenses, primarily related to expenses associated with DAC, interest expense, minority interest expense and equity compensation costs.
December 31,
## Table 2 ##
## Table 3 ##
Years Ended December 31 @t@ (1) On July 1, 2005, the Holding Company acquired Travelers.
The 2005 selected financial data includes total revenues and total expenses of $1,009 million and $618 million, respectively, from the date of the acquisition.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Acquisitions and Dispositions.
” (2) Discontinued Operations: Real Estate In accordance with Statement of Financial Accounting Standards (“SFAS”) No.144, Accounting for the Impairment or Disposal of Long-Lived Assets (“SFAS 144”), income related to real estate sold or classified as held-for-sale for transactions initiated on or after

<table><tr><td></td><td>September2012</td><td>September2013</td><td>September2014</td><td>September2015</td><td>September2016</td><td>September2017</td></tr><tr><td>Apple Inc.</td><td>$100</td><td>$74</td><td>$111</td><td>$128</td><td>$129</td><td>$179</td></tr><tr><td>S&P 500 Index</td><td>$100</td><td>$119</td><td>$143</td><td>$142</td><td>$164</td><td>$194</td></tr><tr><td>S&P Information Technology Index</td><td>$100</td><td>$107</td><td>$138</td><td>$141</td><td>$173</td><td>$223</td></tr><tr><td>Dow Jones U.S. Technology Supersector Index</td><td>$100</td><td>$105</td><td>$137</td><td>$137</td><td>$167</td><td>$214</td></tr></table>
<table><tr><td></td><td>$ Change (In millions)</td><td>% Change</td></tr><tr><td>Institutional</td><td>$-318</td><td>-145%</td></tr><tr><td>Individual</td><td>-68</td><td>-31</td></tr><tr><td>Corporate & Other</td><td>-26</td><td>-12</td></tr><tr><td>International</td><td>-25</td><td>-12</td></tr><tr><td>Auto & Home</td><td>192</td><td>88</td></tr><tr><td>Reinsurance</td><td>26</td><td>12</td></tr><tr><td>Total change, net of income tax</td><td>$-219</td><td>-100%</td></tr></table>
<table><tr><td></td><td colspan="5">December 31,</td></tr><tr><td></td><td>2006</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td></tr><tr><td></td><td colspan="5">(In millions)</td></tr><tr><td> Balance Sheet Data-1</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>General account assets</td><td>$383,350</td><td>$353,776</td><td>$270,039</td><td>$251,085</td><td>$217,733</td></tr><tr><td>Separate account assets</td><td>144,365</td><td>127,869</td><td>86,769</td><td>75,756</td><td>59,693</td></tr><tr><td>Total assets-2</td><td>$527,715</td><td>$481,645</td><td>$356,808</td><td>$326,841</td><td>$277,426</td></tr><tr><td>Liabilities:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Life and health policyholder liabilities-7</td><td>$268,741</td><td>$258,881</td><td>$193,612</td><td>$177,947</td><td>$162,986</td></tr><tr><td>Property and casualty policyholder liabilities-7</td><td>3,453</td><td>3,490</td><td>3,180</td><td>2,943</td><td>2,673</td></tr><tr><td>Short-term debt</td><td>1,449</td><td>1,414</td><td>1,445</td><td>3,642</td><td>1,161</td></tr><tr><td>Long-term debt</td><td>9,979</td><td>9,489</td><td>7,412</td><td>5,703</td><td>4,411</td></tr><tr><td>Junior subordinated debt securities</td><td>3,780</td><td>2,533</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Payables for collateral under securities loaned and other transactions</td><td>45,846</td><td>34,515</td><td>28,678</td><td>27,083</td><td>17,862</td></tr><tr><td>Other</td><td>16,304</td><td>14,353</td><td>12,888</td><td>12,618</td><td>9,990</td></tr><tr><td>Separate account liabilities</td><td>144,365</td><td>127,869</td><td>86,769</td><td>75,756</td><td>59,693</td></tr><tr><td>Total liabilities-2</td><td>493,917</td><td>452,544</td><td>333,984</td><td>305,692</td><td>258,776</td></tr><tr><td>Company-obligated mandatorily redeemable securities of subsidiary trusts</td><td>—</td><td>—</td><td>—</td><td>—</td><td>1,265</td></tr><tr><td>Stockholders’ Equity</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Preferred stock, at par value</td><td>1</td><td>1</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Common stock, at par value</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Additional paid-in capital</td><td>17,454</td><td>17,274</td><td>15,037</td><td>14,991</td><td>14,968</td></tr><tr><td>Retained earnings</td><td>16,574</td><td>10,865</td><td>6,608</td><td>4,193</td><td>2,807</td></tr><tr><td>Treasury stock, at cost</td><td>-1,357</td><td>-959</td><td>-1,785</td><td>-835</td><td>-2,405</td></tr><tr><td>Accumulated other comprehensive income-8</td><td>1,118</td><td>1,912</td><td>2,956</td><td>2,792</td><td>2,007</td></tr><tr><td>Total stockholders’ equity</td><td>33,798</td><td>29,101</td><td>22,824</td><td>21,149</td><td>17,385</td></tr><tr><td>Total liabilities and stockholders’ equity</td><td>$527,715</td><td>$481,645</td><td>$356,808</td><td>$326,841</td><td>$277,426</td></tr></table>
<table><tr><td></td><td colspan="5"> Years Ended December 31,</td></tr><tr><td></td><td> 2006</td><td> 2005</td><td>2004</td><td>2003</td><td> 2002</td></tr><tr><td> Other Data-1</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income available to common shareholders</td><td>$6,159</td><td>$4,651</td><td>$2,758</td><td>$2,196</td><td>$1,605</td></tr><tr><td>Return on common equity-9</td><td>21.9%</td><td>18.5%</td><td>12.5%</td><td>11.4%</td><td>9.6%</td></tr><tr><td>Return on common equity, excluding accumulated other comprehensive income</td><td>22.6%</td><td>20.4%</td><td>14.4%</td><td>13.0%</td><td>10.8%</td></tr><tr><td> EPS Data-1</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Income from Continuing Operations Available to Common Shareholders Per Common Share</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$3.90</td><td>$4.03</td><td>$3.43</td><td>$2.38</td><td>$1.40</td></tr><tr><td>Diluted</td><td>$3.85</td><td>$3.99</td><td>$3.41</td><td>$2.34</td><td>$1.35</td></tr><tr><td> Income (loss) from Discontinued Operations Per Common Share</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$4.19</td><td>$2.18</td><td>$0.35</td><td>$0.63</td><td>$0.88</td></tr><tr><td>Diluted</td><td>$4.14</td><td>$2.17</td><td>$0.35</td><td>$0.63</td><td>$0.85</td></tr><tr><td> Cumulative Effect of a Change in Accounting Per Common Share-6</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$—</td><td>$—</td><td>$-0.11</td><td>$-0.04</td><td>$—</td></tr><tr><td>Diluted</td><td>$—</td><td>$—</td><td>$-0.11</td><td>$-0.03</td><td>$—</td></tr><tr><td> Net Income Available to Common Shareholders Per Common Share</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$8.09</td><td>$6.21</td><td>$3.67</td><td>$2.97</td><td>$2.28</td></tr><tr><td>Diluted</td><td>$7.99</td><td>$6.16</td><td>$3.65</td><td>$2.94</td><td>$2.20</td></tr><tr><td> Dividends Declared Per Common Share</td><td>$0.59</td><td>$0.52</td><td>$0.46</td><td>$0.23</td><td>$0.21</td></tr></table>

Question: What is the growing rate of Long-term debt in the year with the most Short-term debt?