Engineered Products and Solutions
## Table 0 ##
This segment represents a portion of Alcoa’s downstream operations and produces products that are used mostly in the aerospace (commercial and defense), commercial transportation, and power generation end markets.
Such products include fastening systems (titanium, steel, and nickel alloys) and seamless rolled rings (mostly nickel alloys); and investment castings (nickel super alloys, titanium, and aluminum), including airfoils and forged jet engine components (e. g. , jet engine disks), all of which are sold directly to customers and through distributors.
More than 70% of the thirdparty sales in this segment are from the aerospace end market.
A small part of this segment also produces various forging and extrusion metal products for the oil and gas, industrial products, automotive, and land and sea defense end markets.
Seasonal decreases in sales are generally experienced in the third quarter of the year due to the European summer slowdown across all end markets.
Generally, the sales and costs and expenses of this segment are transacted in the local currency of the respective operations, which are mostly the U. S.  dollar and the euro.
In March 2015, Alcoa completed the acquisition of an aerospace castings company, TITAL, a privately held company with approximately 650 employees based in Germany.
TITAL produces aluminum and titanium investment casting products for the aerospace and defense end markets.
In 2014, TITAL generated sales of approximately $100.
The purpose of this acquisition is to capture increasing demand for advanced jet engine components made of titanium, establish titanium-casting capabilities in Europe, and expand existing aluminum casting capacity.
The operating results and assets and liabilities of TITAL were included within the Engineered Products and Solutions segment since the date of acquisition.
Also in March 2015, Alcoa signed a definitive agreement to acquire RTI International Metals, Inc.  (RTI), a global supplier of titanium and specialty metal products and services for the commercial aerospace, defense, energy, and medical device end markets.
On July 23, 2015, after satisfying all customary closing conditions and receiving the required regulatory and RTI shareholder approvals, Alcoa completed the acquisition of RTI.
The purpose of this acquisition is to expand Alcoa’s range of titanium offerings and add advanced technologies and materials, primarily related to the aerospace end market.
In 2014, RTI generated net sales of $794 and had approximately 2,600 employees.
Alcoa estimates that RTI will generate approximately $1,200 in Third-party sales by 2019.
In executing its integration plan for RTI, Alcoa expects to realize annual cost savings of approximately $100 by 2019 due to synergies derived from procurement and productivity improvements, leveraging Alcoa’s global shared services, and driving profitable growth.
The operating results and assets and liabilities of RTI were included within the Engineered Products and Solutions segment since the date of acquisition.
On November 19, 2014, after satisfying all customary closing conditions and receiving the required regulatory approvals, Alcoa completed the acquisition of Firth Rixson, a global leader in aerospace jet engine components.
Firth Rixson manufactures rings, forgings, and metal products for the aerospace end market, as well as other markets requiring highly engineered material applications.
The purpose of this acquisition is to strengthen Alcoa’s aerospace business and position the Company to capture additional aerospace growth with a broader range of high-growth, valueadd jet engine components.
This business generated sales of approximately $970 in 2014 and has 13 operating facilities in the United States, United Kingdom, Europe, and Asia employing approximately 2,400 people combined.
In executing its integration plan for Firth Rixson, Alcoa expects to realize annual cost savings of more than $100 by 2019 due to synergies derived from procurement and productivity improvements, optimizing internal metal supply, and leveraging Alcoa’s global shared services.
The operating results and assets and liabilities of Firth Rixson were included within the Engineered Products and Solutions segment since the date of acquisition.
Third-party sales for the Engineered Products and Solutions segment improved 27% in 2015 compared with 2014, largely attributable to the third-party sales ($1,310) of three acquired businesses (see above), primarily aerospacerelated, and higher volumes in this segment’s organic businesses, mostly related to the aerospace end market.
These positive impacts were slightly offset by unfavorable foreign currency movements, principally driven by a weaker euro.
On May 13, 2010, the shareholders of the Company approved the Regions Financial Corporation 2010 Long-Term Incentive Plan (“2010 LTIP”), which permits the Company to grant to employees and directors various forms of incentive compensation.
These forms of incentive compensation are similar to the types of compensation approved in prior plans.
The 2010 LTIP authorizes 100 million common share equivalents available for grant, where grants of options count as one share equivalent and grants of full value awards (e. g. , shares of restricted stock and restricted stock units) count as 2.25 share equivalents.
Unless otherwise determined by the Compensation Committee of the Board of Directors, grants of restricted stock and restricted stock units accrue dividends as they are declared by the Board of Directors, and the dividends are paid upon vesting of the award.
The 2010 LTIP closed all prior long-term incentive plans to new grants, and accordingly, prospective grants must be made under the 2010 LTIP or a successor plan.
All existing grants under prior long-term incentive plans were unaffected by this amendment.
The number of remaining share equivalents available for future issuance under the 2010 LTIP was approximately 84 million at December 31, 2011.
Grants of performance-based restricted stock typically have a one-year performance period, after which shares vest within three years after the grant date.
Restricted stock units, which were granted in 2008, have a vesting period of five years.
Generally, the terms of these plans stipulate that the exercise price of options may not be less than the fair market value of Regions’ common stock at the date the options are granted; however, under prior stock option plans, non-qualified options could be granted with a lower exercise price than the fair market value of Regions’ common stock on the date of grant.
The contractual life of options granted under these plans ranges from seven to ten years from the date of grant.
Regions issues new shares from authorized reserves upon exercise.
Grantees of restricted stock awards or units must either remain employed with the Company for certain periods from the date of grant in order for shares to be released or issued or retire after meeting the standards of a retiree, at which time shares would be prorated and released.
The following table summarizes the elements of compensation cost recognized in the consolidated statements of operations for the years ended December 31:
## Table 1 ##
Note: The table above includes compensation cost of share-based compensation awards from discontinued operations of approximately $1 million, net of tax, for years 2011, 2010 and 2009 (see Note 3 to the consolidated financial statements) .
STOCK OPTIONS During 2011 and 2010, Regions made stock option grants that vest based upon a service condition.
The fair value of these stock options was estimated on the date of the grant using a Black-Scholes option pricing model and related assumptions.
The stock options vest ratably over a three-year term.
During 2009, Regions made stock option grants from prior long-term incentive plans that vest based upon a service condition and a market condition in addition to awards that were similar to prior grants.
The fair value of these stock options was estimated on the date of the grant using a Monte-Carlo simulation method.
The simulation generates a defined number of stock price paths in order to develop a reasonable estimate of the range of future expected stock prices and minimize standard error.
numerator for the adjusted fee income ratio.
Net interest income and other financing income on a taxable-equivalent basis and noninterest income are added together to arrive at total revenue on a taxable-equivalent basis.
Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted efficiency and adjusted fee income ratios.
Tangible common stockholders’ equity ratios have become a focus of some investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock.
Traditionally, the Federal Reserve and other banking regulatory bodies have assessed a bank’s capital adequacy based on Tier 1 capital, the calculation of which is codified in federal banking regulations.
Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity measure.
Because tangible common stockholders’ equity is not formally defined by GAAP, this measure is considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations.
Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, Regions believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
The Basel Committee's Basel III framework will strengthen international capital and liquidity regulations.
When fully phased in, Basel III will increase capital requirements through higher minimum capital levels as well as through increases in risk-weights for certain exposures.
Additionally, the Basel III rules place greater emphasis on common equity.
The Federal Reserve released its final Basel III Rules detailing the U. S.  implementation of Basel III in 2013.
Regions, as a standardized approach bank, began transitioning to the Basel III framework in January 2015 subject to a phase-in period extending through January 2019.
Because the Basel III implementation regulations will not be fully phased in until 2019 and, are not formally defined by GAAP, these measures are considered to be non-GAAP financial measures.
Since analysts and banking regulators may assess Regions’ capital adequacy using the fully phased-in Basel III framework, Regions believes that it is useful to provide investors information enabling them to assess Regions’ capital adequacy on the same basis.
Non-GAAPfinancial measures have inherent limitations, are not required to be uniformly applied and are not audited.
Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP.
In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders.
The following tables provide: 1) a reconciliation of allowance for loan losses (GAAP) to adjusted allowance for loan losses (non-GAAP), 2) a reconciliation of non-accrual loans (GAAP) to adjusted non-accrual loans (non-GAAP), 3) a computation of adjusted allowance for loan losses to non-performing loans, excluding loans held for sale (non-GAAP), 4) a reconciliation of net income (GAAP) to net income available to common shareholders (GAAP), 5) a reconciliation of non-interest expense from continuing operations (GAAP) to adjusted non-interest expense (non-GAAP), 6) a reconciliation of non-interest income from continuing operations (GAAP) to adjusted non-interest income (non-GAAP), 7) a computation of adjusted total revenue (nonGAAP), 8) a computation of the adjusted efficiency ratio (non-GAAP), 9) a computation of the adjusted fee income ratio (nonGAAP), 10) a reconciliation of average and ending stockholders’ equity (GAAP) to average and ending tangible common stockholders’equity (non-GAAP) and calculations of related ratios (non-GAAP), 11) a reconciliation of stockholders’equity (GAAP) to Basel III CET1, on a fully phased-in basis (non-GAAP), and calculation of the related ratio based on Regions’current understanding of the Basel III requirements (non-GAAP).
Table 2—GAAP to Non-GAAP Reconciliation
## Table 2 ##

<table><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Third-party sales</td><td>$5,342</td><td>$4,217</td><td>$4,054</td></tr><tr><td>ATOI</td><td>$595</td><td>$579</td><td>$569</td></tr></table>
<table><tr><td></td><td>2011</td><td>2010</td><td>2009</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Compensation cost of share-based compensation awards:</td><td></td><td></td><td></td></tr><tr><td>Restricted stock awards</td><td>$10</td><td>$10</td><td>$33</td></tr><tr><td>Stock options</td><td>9</td><td>13</td><td>14</td></tr><tr><td>Cash-settled restricted stock units</td><td>3</td><td>7</td><td>3</td></tr><tr><td>Tax benefits related to compensation cost</td><td>-8</td><td>-11</td><td>-18</td></tr><tr><td>Compensation cost of share-based compensation awards, net of tax</td><td>$14</td><td>$19</td><td>$32</td></tr></table>
<table><tr><td></td><td></td><td colspan="5">Year Ended December 31</td></tr><tr><td></td><td></td><td>2016</td><td>2015</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td></td><td></td><td colspan="5">(Dollars in millions)</td></tr><tr><td>ADJUSTED NON-ACCRUAL LOANS AND SELECTED RATIOS</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Allowance for loan losses (GAAP)</td><td>A</td><td>$1,091</td><td>$1,106</td><td>$1,103</td><td>$1,341</td><td>$1,919</td></tr><tr><td>Less: Direct energy portion</td><td></td><td>147</td><td>151</td><td>28</td><td>15</td><td>24</td></tr><tr><td>Adjusted allowance for loan losses (non-GAAP)</td><td>B</td><td>$944</td><td>$955</td><td>$1,075</td><td>$1,326</td><td>$1,895</td></tr><tr><td>Total non-accrual loans (GAAP)</td><td>C</td><td>$995</td><td>$782</td><td>$829</td><td>$1,082</td><td>$1,681</td></tr><tr><td>Less: Direct energy non-accrual loans</td><td></td><td>311</td><td>83</td><td>37</td><td>—</td><td>20</td></tr><tr><td>Adjusted total non-accrual loans (non-GAAP)</td><td>D</td><td>$684</td><td>$699</td><td>$792</td><td>$1,082</td><td>$1,661</td></tr><tr><td>Allowance for loan losses to non-performing loans, excluding loans held for sale (GAAP)</td><td>A/C</td><td>1.10x</td><td>1.41x</td><td>1.33x</td><td>1.24x</td><td>1.14x</td></tr><tr><td>Adjusted allowance for loan losses to non-performing loans, excluding loans held for sale (non-GAAP)</td><td>B/D</td><td>1.38x</td><td>1.37x</td><td>1.36x</td><td>1.23x</td><td>1.14x</td></tr></table>

Question: As As the chart 2 shows,in which Year Ended December 31 is the value of Less: Direct energy non-accrual loans greater than 300 million?