CONSOLIDATED RESULTS OF OPERATIONS
## Table 0 ##
Note: Percentage changes may not compute directly as shown due to rounding of amounts presented above.
NM = not meaningful.
Net Sales 2017 compared with 2016 Net sales increased 1.0% in 2017 compared with 2016, reflecting favorable price realization of 0.7%, a benefit from acquisitions of 0.3%, and a favorable impact from foreign currency exchange rates of 0.2%, partially offset by a volume decrease of 0.2%.
Excluding foreign currency, our net sales increased 0.8% in 2017.
The favorable net price realization was attributed to lower levels of trade promotional spending in both the North America and International and Other segments versus the prior year.
Consolidated volume decreased as a result of lower sales volume in the International and Other segment, primarily attributed to our China business and the softness in the modern trade channel coupled with a focus on optimizing our product offerings.
These volume decreases were partially offset by higher sales volume in North America, specifically from 2017 innovation and new launches, including Hershey's Cookie Layer Crunch, Hershey's Gold and Hershey's and Reese's Popped Snack Mix and Chocolate Dipped Pretzels.2016 compared with 2015 Net sales increased 0.7% in 2016 compared with 2015, reflecting volume increases of 0.8% and a 0.6% benefit from net acquisitions and divestitures, partially offset by an unfavorable impact from foreign currency exchange rates of 0.7%.
Excluding foreign currency, our net sales increased 1.4% in 2016.
The volume improvement was primarily driven by new chocolate and snacking products in the United States, including Snack Mix, Snack Bites and Hershey's Cookie Layer Crunch bars.
While the North America segment had unfavorable price realization due to increased levels of trade promotional spending, this was essentially offset by favorable price realization in the International and Other segment, due to significantly lower levels of trade spending and returns, discounts and allowances.
THE HERSHEY COMPANY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) (amounts in thousands, except share data or if otherwise indicated)
## Table 1 ##
“Estimated values” means the fair value for the market-based total shareholder return component of each PSU at the date of grant using a Monte Carlo simulation model; “Dividend yields” means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods; “Expected volatility” means the historical volatility of our Common Stock over the expected term of each grant.
The fair value of shares vested totaled $29,981, $22,062 and $46,113 in 2017, 2016 and 2015, respectively.
Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 369,278 units as of December 31, 2017.
Each unit is equivalent to one share of the Company’s Common Stock.11.
SEGMENT INFORMATION Our organizational structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets.
Our business is organized around geographic regions, which enables us to build processes for repeatable success in our global markets.
As a result, we have defined our operating segments on a geographic basis, as this aligns with how our Chief Operating Decision Maker (“CODM”) manages our business, including resource allocation and performance assessment.
Our North America business, which generates approximately 88% of our consolidated revenue, is our only reportable segment.
None of our other operating segments meet the quantitative thresholds to qualify as reportable segments; therefore, these operating segments are combined and disclosed below as International and Other.  ?
North America - This segment is responsible for our traditional chocolate and non-chocolate confectionery market position, as well as our grocery and growing snacks market positions, in the United States and Canada.
This includes developing and growing our business in chocolate and non-chocolate confectionery, pantry, food service and other snacking product lines.  ?
International and Other - International and Other is a combination of all other operating segments that are not individually material, including those geographic regions where we operate outside of North America.
We currently have operations and manufacture product in China, Mexico, Brazil, India and Malaysia, primarily for consumers in these regions, and also distribute and sell confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions.
This segment also includes our global retail operations, including Hershey's Chocolate World stores in Hershey, Pennsylvania, New York City, Las Vegas, Niagara Falls (Ontario), Dubai, and Singapore, as well as operations associated with licensing the use of certain of the Company's trademarks and products to third parties around the world.
For segment reporting purposes, we use “segment income” to evaluate segment performance and allocate resources.
Segment income excludes unallocated general corporate administrative expenses, unallocated mark-to-market gains and losses on commodity derivatives, business realignment and impairment charges, acquisition integration costs, the non-service related portion of pension expense and other unusual gains or losses that are not part of our measurement of segment performance.
These items of our operating income are managed centrally at the corporate level and are excluded from the measure of segment income reviewed by the CODM as well the measure of segment performance used for incentive compensation purposes.
Accounting policies associated with our operating segments are generally the same as those described in Note 1.
Financial Statement Impact We believe that our accruals for sales returns, rebates, and discounts are reasonable and appropriate based on current facts and circumstances.
Our global rebate and discount liabilities are included in sales rebates and discounts on our consolidated balance sheet.
Our global sales return liability is included in other current liabilities and other noncurrent liabilities on our consolidated balance sheet.
As of December 31, 2018, a 5 percent change in our global sales return, rebate, and discount liability would have led to an approximate $275 million effect on our income before income taxes.
The portion of our global sales return, rebate, and discount liability resulting from sales of our products in the U. S.  was approximately 90 percent as of December 31, 2018 and December 31, 2017.
The following represents a roll-forward of our most significant U. S.  pharmaceutical sales return, rebate, and discount liability balances, including managed care, Medicare, and Medicaid:
## Table 2 ##
(1) Adjustments of the estimates for these returns, rebates, and discounts to actual results were approximately 1 percent of consolidated net sales for each of the years presented.
Product Litigation Liabilities and Other Contingencies Background and Uncertainties Product litigation liabilities and other contingencies are, by their nature, uncertain and based upon complex judgments and probabilities.
The factors we consider in developing our product litigation liability reserves and other contingent liability amounts include the merits and jurisdiction of the litigation, the nature and the number of other similar current and past matters, the nature of the product and the current assessment of the science subject to the litigation, and the likelihood of settlement and current state of settlement discussions, if any.
In addition, we accrue for certain product liability claims incurred, but not filed, to the extent we can formulate a reasonable estimate of their costs based primarily on historical claims experience and data regarding product usage.
We accrue legal defense costs expected to be incurred in connection with significant product liability contingencies when both probable and reasonably estimable.
We also consider the insurance coverage we have to diminish the exposure for periods covered by insurance.
In assessing our insurance coverage, we consider the policy coverage limits and exclusions, the potential for denial of coverage by the insurance company, the financial condition of the insurers, and the possibility of and length of time for collection.
Due to a very restrictive market for product liability insurance, we are self-insured for product liability losses for all our currently marketed products.
In addition to insurance coverage, we also consider any third-party indemnification to which we are entitled or under which we are obligated.
With respect to our third-party indemnification rights, these considerations include the nature of the indemnification, the financial condition of the indemnifying party, and the possibility of and length of time for collection.
The litigation accruals and environmental liabilities and the related estimated insurance recoverables have been reflected on a gross basis as liabilities and assets, respectively, on our consolidated balance sheets.
Impairment of Indefinite-Lived and Long-Lived Assets Background and Uncertainties We review the carrying value of long-lived assets (both intangible and tangible) for potential impairment on a periodic basis and whenever events or changes in circumstances indicate the carrying value of an asset (or asset group) may not be recoverable.
We identify impairment by comparing the projected undiscounted cash flows to be generated by the asset (or asset group) to its carrying value.
If an impairment is identified, a loss is recorded equal to the excess of the asset’s net book value over its fair value, and the cost basis is adjusted.
Goodwill and indefinite-lived intangible assets are reviewed for impairment at least annually and when certain impairment indicators are present.
When required, a comparison of fair value to the carrying amount of assets is performed to determine the amount of any impairment.

<table><tr><td></td><td></td><td></td><td></td><td colspan="2">Percent Change</td></tr><tr><td>For the years ended December 31,</td><td>2017</td><td>2016</td><td>2015</td><td>2017 vs 2016</td><td>2016 vs 2015</td></tr><tr><td>In millions of dollars except per share amounts</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net Sales</td><td>$7,515.4</td><td>$7,440.2</td><td>$7,386.6</td><td>1.0%</td><td>0.7%</td></tr><tr><td>Cost of Sales</td><td>4,070.9</td><td>4,282.3</td><td>4,003.9</td><td>-4.9%</td><td>7.0%</td></tr><tr><td>Gross Profit</td><td>3,444.5</td><td>3,157.9</td><td>3,382.7</td><td>9.1%</td><td>-6.6%</td></tr><tr><td>Gross Margin</td><td>45.8%</td><td>42.4%</td><td>45.8%</td><td></td><td></td></tr><tr><td>SM&A Expense</td><td>1,913.4</td><td>1,915.4</td><td>1,969.3</td><td>-0.1%</td><td>-2.7%</td></tr><tr><td>SM&A Expense as a percent of net sales</td><td>25.5%</td><td>25.7%</td><td>26.7%</td><td></td><td></td></tr><tr><td>Goodwill, Indefinite and Long-Lived Asset Impairment Charges</td><td>208.7</td><td>4.2</td><td>280.8</td><td>NM</td><td>NM</td></tr><tr><td>Business Realignment Costs</td><td>47.8</td><td>32.5</td><td>94.8</td><td>46.8%</td><td>-65.7%</td></tr><tr><td>Operating Profit</td><td>1,274.6</td><td>1,205.8</td><td>1,037.8</td><td>5.7%</td><td>16.2%</td></tr><tr><td>Operating Profit Margin</td><td>17.0%</td><td>16.2%</td><td>14.0%</td><td></td><td></td></tr><tr><td>Interest Expense, Net</td><td>98.3</td><td>90.2</td><td>105.8</td><td>9.0%</td><td>-14.8%</td></tr><tr><td>Other (Income) Expense, Net</td><td>65.7</td><td>16.2</td><td>30.1</td><td>306.5%</td><td>-46.4%</td></tr><tr><td>Provision for Income Taxes</td><td>354.1</td><td>379.4</td><td>388.9</td><td>-6.7%</td><td>-2.4%</td></tr><tr><td>Effective Income Tax Rate</td><td>31.9%</td><td>34.5%</td><td>43.1%</td><td></td><td></td></tr><tr><td>Net Income Including Noncontrolling Interest</td><td>756.5</td><td>720.0</td><td>513.0</td><td>5.1%</td><td>40.4%</td></tr><tr><td>Less: Net Loss Attributable to Noncontrolling Interest</td><td>-26.4</td><td>—</td><td>—</td><td>NM</td><td>NM</td></tr><tr><td>Net Income Attributable to The Hershey Company</td><td>$783.0</td><td>$720.0</td><td>$513.0</td><td>8.7%</td><td>40.4%</td></tr><tr><td>Net Income Per Share—Diluted</td><td>$3.66</td><td>$3.34</td><td>$2.32</td><td>9.6%</td><td>44.0%</td></tr></table>
<table><tr><td>For the years ended December 31,</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Units granted</td><td>478,044</td><td>545,750</td><td>381,407</td></tr><tr><td>Weighted-average fair value at date of grant</td><td>$110.97</td><td>$93.55</td><td>$104.68</td></tr><tr><td>Monte Carlo simulation assumptions:</td><td></td><td></td><td></td></tr><tr><td>Estimated values</td><td>$46.85</td><td>$38.02</td><td>$61.22</td></tr><tr><td>Dividend yields</td><td>2.3%</td><td>2.5%</td><td>2.0%</td></tr><tr><td>Expected volatility</td><td>20.4%</td><td>17.0%</td><td>14.9%</td></tr></table>
<table><tr><td>(Dollars in millions)</td><td>2018</td><td>2017</td></tr><tr><td>Sales return, rebate, and discount liabilities, beginning of year</td><td>$4,172.0</td><td>$3,601.8</td></tr><tr><td>Reduction of net sales due to sales returns, discounts, and rebates<sup>-1</sup></td><td>12,529.6</td><td>10,603.4</td></tr><tr><td>Cash payments of discounts and rebates</td><td>-12,023.4</td><td>-10,033.2</td></tr><tr><td>Sales return, rebate, and discount liabilities, end of year</td><td>$4,678.2</td><td>$4,172.0</td></tr></table>

Question: What's the average of Cash payments of discounts and rebates of 2017, and Net Sales of Percent Change 2017 ?