Table of Contents due to the low interest rate environment, appreciation in home values, an increasing percentage of the population purchasing homes and mortgage industry consolidation.
We have also experienced growth in our extended service contract and international businesses due to the acquisition of new clients as well as the expansion of our relationships with our existing clients.
The manufactured housing market has been more challenging because of a more restrictive lending environment with fewer lenders extending credit and increasingly strict underwriting standards being applied since the late 1990’s.
Finally, the domestic consumer credit insurance market has been contracting due to an adverse regulatory environment; however, this decline has been offset somewhat by growth in the debt protection market.
This adverse regulatory environment has included, in the last few years, many state regulatory interpretations that impose rigorous agent licensing requirements for employees of lenders who offer credit insurance products as well as federal legislation which dissuades, and various state laws that either dissuade or prohibit, financial institutions from financing single premium credit or other credit insurance on consumer or home loans secured by real estate.
In Assurant Solutions, we provide specialty property and consumer protection products and services.
In our specialty property solutions division, our strategy is to further develop our creditor-placed homeowners and manufactured housing homeowners insurance products and related services in order to maintain our leadership position or relationships with clients who are leaders and to gain market share in the mortgage and manufactured housing industries, as well as to develop our renters’ insurance product line.
Renters’ insurance generally provides coverage for the contents of a renter’s home or apartment and for liability.
In our consumer protection solutions division, we intend to continue to focus on being a low-cost provider of debt protection administration services, to leverage our administrative infrastructure with our large customer base clients and to manage the switch from credit insurance programs to debt protection programs in the United States.
In addition, our consumer protection solutions division offers a variety of warranties and extended service contracts on consumer electronics, personal computers, appliances and vehicles.
The following table provides net earned premiums and other considerations and fees and other income for Assurant Solutions for the periods indicated:
## Table 0 ##
Products and Services Specialty Property Solutions.
We underwrite a variety of creditor-placed and voluntary homeowners insurance as well as property coverages on manufactured housing, specialty automobiles, including antique automobiles, recreational vehicles, including motorcycles and watercraft, and leased and financed equipment.
We also offer complementary programs such as flood insurance, renters’ insurance and various other property coverages.
We are a leading provider of creditor-placed and other collateral protection insurance programs based on number of loans serviced.
These other collateral protection insurance programs may include those that protect a lender’s interest in homes, manufactured homes and automobiles.
We also offer administration services for some of the largest mortgage lenders and servicers, manufactured housing lenders, dealers and vertically integrated builders and equipment leasing institutions in the United States.
Many of our products and services are sold in conjunction with the sale or lease of the underlying property, vehicle or equipment by our clients.
Our market strategy is to establish relationships with institutions who are leaders in their chosen
In 2014 and 2013, we received cash dividends of $110 million and $122 million, respectively, from StoneRiver.
The portions of these dividends that represented returns on our investment, $110 million in 2014 and $6 million in 2013, are reported in cash flows from operating activities.
In the first quarter of 2013, we acquired Open Solutions for a cash purchase price of $16 million, net of cash acquired, along with the assumption of approximately $960 million of debt, and sold Club Solutions for approximately $35 million in cash.
Share Repurchases Cash outflows for repurchases of our common stock were $1.1 billion and $578 million in 2014 and 2013, respectively.
On each of August 5, 2013 and November 19, 2014, our board of directors authorized the purchase of up to 20.0 million shares of our common stock.
Purchases pursuant to the August 5, 2013 authorization have been completed.
As of December 31, 2014, we had approximately 19.8 million shares remaining under the November 19, 2014 authorization.
Shares repurchased are generally held for issuance in connection with our equity plans.
Indebtedness
## Table 1 ##
The acquisition of Open Solutions in January 2013 for a cash purchase price of $16 million, net of cash acquired, and repayment of assumed debt of approximately $960 million was funded utilizing a combination of available cash and existing availability under our revolving credit facility.
In October 2013, we obtained a $900 million term loan under a new loan agreement with a syndicate of banks and used the net proceeds from the term loan to repay outstanding borrowings under our revolving credit facility.
At December 31, 2014, our long-term debt consisted primarily of $2.95 billion of senior notes and $810 million of term loan borrowings.
We were in compliance with all financial debt covenants during 2014.
Term Loan On October 25, 2013, we obtained a $900 million term loan under a new loan agreement with a syndicate of banks.
This term loan bears interest at a variable rate based on LIBOR or the bank’s base rate, plus a specified margin based on our long-term debt rating in effect from time to time, and matures in October 2018.
The variable interest rate on the term loan borrowings was 1.4% at December 31, 2014.
Scheduled principal payments of $90 million commenced on December 31, 2014 and are due on the last business day of December of each year, with the remaining principal balance of $540 million due in October 2018.
The term loan facility contains various restrictions and covenants substantially similar to those contained in the revolving credit facility described below.
Revolving Credit Facility In connection with the term loan financing described above, on October 25, 2013, we entered into an amendment to our existing $2.0 billion revolving credit agreement with a syndicate of banks that conformed certain of its
SILICON VALLEY BANCSHARES AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 21.
Fair Value of Financial Instruments (Continued) Letters of credit generally expire in 90 days or less, therefore their fair value was estimated at $0 in 2003 and 2002 due to their short-term nature.
Commitments to extend credit and letters of credit typically result in loans with a market interest rate when funded.
Limitations The information presented herein is based on pertinent information available to the Company as of December 31, 2003 and 2002, respectively.
Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued since the most recent year-end and the estimated fair values of these financial instruments may have changed significantly since that point in time.
The estimated fair values of the Company’s financial instruments at December 31, 2003 and 2002 are presented below.
## Table 2 ##
22.
Legal Matters Certain lawsuits and claims arising in the ordinary course of business have been filed or are pending against the Company and/or the Bank.
Based upon information available to the Company, its review of such claims to date and consultation with its legal counsel, management believes the liability relating to these actions, if any, will not have a material adverse effect on the Company’s liquidity, consolidated financial position or results of operations.23.
Regulatory Matters The Bank is subject to certain restrictions on the amount of dividends that it may declare without the prior approval of the Federal Reserve Board and the California Department of Financial Institutions.
At December 31, 2003, approximately $2.8 million of the Bank’s retained earnings were available for dividend declaration to the Company without prior regulatory approval.
PART II Item 5.
Market for Registrant’s Common Equity and Related Stockholder Matters The table below sets forth information regarding repurchases of Synopsys common stock by Synopsys during the fiscal quarter ended October 31, 2003.
## Table 3 ##
All shares were purchased pursuant to a $500 million stock repurchase program approved by Synopsys’ Board of Directors on December 9, 2002.
Effective December 3, 2003, the Board of Directors renewed the program and increased the authorized funds to $500 million, not including amounts expended prior to such date.
Funds are available until expended or until the program is suspended by the Chief Financial Officer or the Board of Directors.
The remaining information required by Item 5 is set forth in Note 13 of our Notes to Consolidated Financial Statements in Part II, Item 8, Financial Statements and Supplementary Data.
Item 6.
Selected Financial Data Financial Summary
## Table 4 ##
(1) Synopsys has a fiscal year that ends on the Saturday nearest October 31.
Fiscal 2003, 2002, 2000 and 1999 were 52-week years while fiscal 2001 was a 53-week year.
For presentation purposes, the consolidated financial statements refer to the calendar month end.
Prior to fiscal 2000, Synopsys’ fiscal year ended on the Saturday nearest to September 30.
The period from October 1, 1999 through October 31, 1999 was a transition period.
During the transition period, revenue, loss before income taxes, benefit for income taxes and net loss were $23.2 million, $25.5 million, $9.9 million, and $15.5 million, respectively, and basic and diluted loss per share was $0.11.
The net loss during the transition period is due to the fact that sales in the first month following a quarter end are historically lower than in the second and third months.
As of October 31, 1999, working capital, total assets, long-term debt, and stockholders’ equity were $621.9 million, $1.2 billion, $11.3 million and $872.6 million, respectively.
(2) Includes charges of $19.9 million, $87.7 million, $1.7 million and $21.2 million for fiscal 2003, 2002, 2000, and 1999, respectively, for in-process research and development.
Fiscal 2002 includes merger-related and other costs of $128.5 million and insurance premium costs of $335.8 million related to the Avant!
merger.
(3) Per share data for all periods presented have been adjusted to reflect Synopsys’ two-for-one stock split completed on September 23, 2003.

<table><tr><td></td><td colspan="3"> For the Year Ended  December 31,</td></tr><tr><td></td><td> 2004</td><td> 2003</td><td> 2002</td></tr><tr><td></td><td colspan="3"> (In millions)</td></tr><tr><td>Net earned premiums and other considerations:</td><td></td><td></td><td></td></tr><tr><td>Specialty Property</td><td>$769</td><td>$733</td><td>$552</td></tr><tr><td>Consumer Protection</td><td>1,680</td><td>1,629</td><td>1,525</td></tr><tr><td>Total</td><td>2,449</td><td>2,362</td><td>2,077</td></tr><tr><td>Fees and other income</td><td>136</td><td>129</td><td>119</td></tr><tr><td>Total</td><td>$2,585</td><td>$2,491</td><td>$2,196</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31,</td></tr><tr><td> (In millions)</td><td> 2014</td><td> 2013</td></tr><tr><td>Term loan</td><td>$810</td><td>$900</td></tr><tr><td>Revolving credit facility</td><td>42</td><td>-</td></tr><tr><td>3.125% senior notes due 2015</td><td>300</td><td>300</td></tr><tr><td>3.125% senior notes due 2016</td><td>600</td><td>600</td></tr><tr><td>6.8% senior notes due 2017</td><td>500</td><td>500</td></tr><tr><td>4.625% senior notes due 2020</td><td>449</td><td>449</td></tr><tr><td>4.75% senior notes due 2021</td><td>399</td><td>399</td></tr><tr><td>3.5% senior notes due 2022</td><td>697</td><td>697</td></tr><tr><td>Other borrowings</td><td>6</td><td>3</td></tr><tr><td>Long-term debt (including current maturities)</td><td>$3,803</td><td>$3,848</td></tr></table>
<table><tr><td> </td><td colspan="4"> December 31,</td></tr><tr><td> </td><td colspan="2"> 2003</td><td colspan="2"> 2002</td></tr><tr><td> </td><td> Carrying Amount</td><td> Estimated Fair Value</td><td> Carrying Amount</td><td> Estimated Fair Value</td></tr><tr><td> </td><td colspan="4"> (Dollars in thousands)</td></tr><tr><td>Financial assets:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and due from banks</td><td>$252,521</td><td>$252,521</td><td>$239,927</td><td>$239,927</td></tr><tr><td>Federal funds sold and securities purchased under agreement to resell</td><td>542,475</td><td>542,475</td><td>202,662</td><td>202,662</td></tr><tr><td>Investment securities, at fair value</td><td>1,479,383</td><td>1,479,383</td><td>1,444,231</td><td>1,444,231</td></tr><tr><td>Non-marketable securities</td><td>96,051</td><td>90,654</td><td>91,463</td><td>87,542</td></tr><tr><td>Net loans</td><td>1,924,729</td><td>1,999,037</td><td>2,015,580</td><td>2,040,290</td></tr><tr><td>Financial liabilities:</td><td></td><td></td><td></td><td></td></tr><tr><td>Noninterest-bearing demand deposits</td><td>2,186,352</td><td>2,128,426</td><td>1,892,125</td><td>1,803,673</td></tr><tr><td>NOW deposits</td><td>20,897</td><td>20,060</td><td>21,531</td><td>18,675</td></tr><tr><td>Money market deposits</td><td>1,080,559</td><td>1,085,354</td><td>933,255</td><td>905,572</td></tr><tr><td>Time deposits</td><td>379,068</td><td>378,876</td><td>589,216</td><td>588,897</td></tr><tr><td>Short-term borrowings</td><td>9,124</td><td>9,070</td><td>9,127</td><td>9,140</td></tr><tr><td>Long-term debt</td><td>204,286</td><td>202,870</td><td>17,397</td><td>18,164</td></tr><tr><td>Off-balance sheet financial assets:</td><td></td><td></td><td></td><td></td></tr><tr><td>Commitments to extend credit</td><td>$6,819</td><td>$6,819</td><td>$5,878</td><td>$5,878</td></tr></table>
<table><tr><td> Period</td><td> Total Number of Shares Purchased </td><td> Average Price Paid per Share </td><td> Total Number of Shares Purchased as Part of Publicly Announced Programs </td><td> Maximum Dollar Value of Shares that May Yet Be Purchased Under the Programs </td></tr><tr><td>Month #1August 3, 2003 through September 6, 2003</td><td>1,088,610</td><td>$31.3214</td><td>1,088,610</td><td>$239,254,000</td></tr><tr><td>Month #2September 7, 2003 through October 4, 2003</td><td>—</td><td>$—</td><td>—</td><td>—</td></tr><tr><td>Month #3October 5, 2003 through November 1, 2003</td><td>—</td><td>$—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>1,088,610</td><td>$31.3214</td><td>1,088,610</td><td>$239,254,000</td></tr></table>
<table><tr><td></td><td colspan="5"> Fiscal Year Ended<sup>-1</sup> </td></tr><tr><td></td><td colspan="4"> October 31, </td><td> September 30, </td></tr><tr><td></td><td> 2003 </td><td>2002</td><td> 2001 </td><td> 2000 </td><td> 1999 </td></tr><tr><td></td><td colspan="5"> <i>(in thousands, except per share data)</i> </td></tr><tr><td>Revenue</td><td>$1,176,983</td><td>$906,534</td><td>$680,350</td><td>$783,778</td><td>$806,098</td></tr><tr><td>Income (loss) before income taxes and extraordinary items<sup>(2)</sup></td><td>218,989</td><td>-288,940</td><td>83,533</td><td>145,938</td><td>251,411</td></tr><tr><td>Provision (benefit) for income taxes</td><td>69,265</td><td>-88,947</td><td>26,731</td><td>48,160</td><td>90,049</td></tr><tr><td>Net income (loss)</td><td>149,724</td><td>-199,993</td><td>56,802</td><td>97,778</td><td>161,362</td></tr><tr><td>Earnings (loss) per share<sup>(3)</sup>:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>0.99</td><td>-1.50</td><td>0.47</td><td>0.71</td><td>1.15</td></tr><tr><td>Diluted</td><td>0.95</td><td>-1.50</td><td>0.44</td><td>0.69</td><td>1.10</td></tr><tr><td>Working capital</td><td>434,247</td><td>151,946</td><td>254,962</td><td>331,857</td><td>627,207</td></tr><tr><td>Total assets</td><td>2,307,353</td><td>1,978,714</td><td>1,128,907</td><td>1,050,993</td><td>1,173,918</td></tr><tr><td>Long-term debt</td><td>7,219</td><td>6,547</td><td>73</td><td>564</td><td>11,642</td></tr><tr><td>Stockholders’ equity</td><td>1,433,410</td><td>1,113,481</td><td>485,656</td><td>682,829</td><td>865,596</td></tr></table>

Question: In the year with largest amount of Provision (benefit) for income taxes, what's the increasing rate of Basic?