Foreign Exchange Rates As a result of our international business presence, we are exposed to foreign currency exchange risks.
We transact business in foreign currencies and, as a result, our income experiences some volatility related to movements in foreign currency exchange rates.
To help manage our exposure to exchange rate volatility, we use foreign currency forward contracts on a regular basis to hedge forecasted intercompany and third-party sales and purchases denominated in non-functional currencies.
Our internal policy allows for managing anticipated foreign currency cash flows for up to one year.
These foreign currency forward contracts are designated and qualify as foreign currency cash flow hedges under GAAP.
The effective portion of the unrealized gain or loss on the forward contract is deferred and reported as a component of “Accumulated other comprehensive loss” (AOCL).
When the hedged forecasted transaction (sale or purchase) occurs, the unrealized gain or loss is reclassified into income in the same line item associated with the hedged transaction in the same period or periods during which the hedged transaction affects income.
The ineffective portion of the hedge, if any, is recognized in current income during the period of change.
As of December 31, 2013, the amount we expect to reclassify from AOCL to income over the next year is an unrealized net gain of $4 million.
For the years ended December 31, 2013 and 2012, there were no circumstances that would have resulted in the discontinuance of a foreign currency cash flow hedge.
To minimize the income volatility resulting from the remeasurement of net monetary assets and payables denominated in a currency other than the functional currency, we enter into foreign currency forward contracts, which are considered economic hedges.
The objective is to offset the gain or loss from remeasurement with the gain or loss from the fair market valuation of the forward contract.
These derivative instruments are not designated as hedges under GAAP.
The table below summarizes our outstanding foreign currency forward contracts.
Only the U. S.  dollar forward contracts are designated and qualify for hedge accounting as of each period presented below.
The currencies in this table represent 94 percent and 95 percent of the notional amounts of contracts outstanding as of December 31, 2013 and 2012.
## Table 0 ##
Commodity Price Risk We are exposed to fluctuations in commodity prices due to contractual agreements with component suppliers.
In order to protect ourselves against future price volatility and, consequently, fluctuations in gross margins, we periodically enter into commodity swap contracts with designated banks to fix the cost of certain raw material purchases with the objective of minimizing changes in inventory cost due to market price fluctuations.
Certain commodity swap contracts are derivative contracts that are designated as cash flow hedges under GAAP.
We also have commodity swap contracts that represent an economic hedge, but are not designated for hedge accounting and are marked to market through earnings.
For those contracts that qualify for hedge accounting, the effective portion of the unrealized gain or loss is deferred and reported as a component of AOCL.
When the hedged forecasted transaction (purchase) occurs, the unrealized gain or loss is reclassified into income in the same line item associated with the hedged transaction in the same period or periods during which the hedged transaction affects income.
The ineffective portion of the hedge, if any, is recognized in current income in the period in which the ineffectiveness occurs.
As of December 31, 2013, we expect to reclassify an unrealized net loss of $4 million from AOCL to income over the next year.
Our internal policy allows for managing these cash flow hedges for up to three years.
Fuel expenses decreased $14 million in 2016 compared with 2015 due to lower unit costs ($19 million), offset by higher sendout volumes from the company’s electric generating facilities ($5 million).
Other operations and maintenance expenses decreased $49 million in 2016 compared with 2015 due primarily to a decrease in the surcharges for assessments and fees that are collected in revenues from customers ($52 million) and lower uncollectible expense ($12 million), offset in part by higher costs for municipal infrastructure support ($8 million).
Depreciation and amortization increased $45 million in 2016 compared with 2015 due primarily to higher electric utility plant balances.
Taxes, other than income taxes increased $54 million in 2016 compared with 2015 due primarily to higher property taxes ($66 million), offset in part by lower state and local revenue taxes ($4 million), a favorable state audit settlement ($3 million), lower sales and use tax reserve based on a favorable audit settlement ($3 million) and lower payroll taxes ($2 million).
Gas CECONY’s results of gas operations for the year ended December 31, 2016 compared with the year ended December 31, 2015 is as follows
## Table 1 ##
CECONY’s gas sales and deliveries, excluding off-system sales, in 2016 compared with 2015 were:
## Table 2 ##
(a) Revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism, as a result of which, delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.
(b) After adjusting for variations, principally weather and billing days, firm gas sales and transportation volumes in the company’s service area increased 3.9 percent in 2016 compared with 2015, reflecting primarily increased volumes attributable to additional customers that have converted from oil-to-gas as heating fuel for their buildings.
(c) Includes 4,708 thousands and 1,229 thousands of Dt for 2016 and 2015, respectively, which are also reflected in firm transportation and other.
(d) Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s rate plans.
See Note B to the financial statements in Item 8.
Operating revenues decreased $19 million in 2016 compared with 2015 due primarily to lower gas purchased for resale expense ($18 million
LENNAR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) Goodwill Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in business combinations.
At November 30, 2006 and 2005, goodwill was $257.8 million and $253.1 million, respectively.
During fiscal 2006, the Company’s goodwill had a net increase of $4.7 million due to an acquisition by the Financial Services segment and payment of contingent consideration related to prior period acquisitions.
During fiscal 2005, the Company’s goodwill increased $13.8 million due to 2005 acquisitions and payment of contingent consideration related to prior period acquisitions.
Goodwill is included in the assets of the Homebuilding segments ($196.6 million and $195.2 million, respectively, at November 30, 2006 and 2005) and the assets of the Financial Services segment ($61.2 million and $58.0 million, respectively, at November 30, 2006 and 2005) in the consolidated balance sheets.
The Company reviews goodwill annually (or whenever indicators of impairment exist) for impairment in accordance with SFAS No.142, Goodwill and Other Intangible Assets.
The Company performed its annual impairment test of goodwill as of September 30, 2006 and determined that goodwill was not impaired.
No impairment was recorded during the years ended November 30, 2006, 2005 or 2004.
As of November 30, 2006 and 2005, there were no material identifiable intangible assets, other than goodwill.
Income Taxes Income taxes are accounted for in accordance with SFAS No.109, Accounting for Income Taxes, (“SFAS 109”).
Under SFAS 109, deferred tax assets and liabilities are determined based on temporary differences between financial reporting carrying values and tax bases of assets and liabilities, and are measured by using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to reverse.
Product Warranty Warranty and similar reserves for homes are established at an amount estimated to be adequate to cover potential costs for materials and labor with regard to warranty-type claims expected to be incurred subsequent to the delivery of a home.
Reserves are determined based on historical data and trends with respect to similar product types and geographical areas.
The Company constantly monitors the warranty reserve and makes adjustments to its pre-existing warranties in order to reflect changes in trends and historical data as information becomes available.
Warranty reserves are included in other liabilities in the consolidated balance sheets.
The activity in the Company’s warranty reserve was as follows:
## Table 3 ##
Self-Insurance Certain insurable risks such as general liability, medical and workers’ compensation are self-insured by the Company up to certain limits.
Undiscounted accruals for claims under the Company’s self-insurance program are based on claims filed and estimates for claims incurred but not yet reported.
Minority Interest The Company has consolidated certain joint ventures because the Company either was determined to be the primary beneficiary pursuant to Financial Accounting Standards Board (“FASB”) Interpretation No.46(R) (“FIN 46(R)”), Consolidation of Variable Interest Entities, or has a controlling interest in these joint ventures.
Therefore, the entities’ financial statements are consolidated in the Company’s consolidated financial statements and the other partners’ equity is recorded as minority interest.
At November 30, 2006 and 2005, minority interest was $55.4 million and $78.2 million, respectively.
Minority interest expense, net was $13.4 million, $45.0 million and $10.8 million, respectively, for the years ended November 30, 2006, 2005 and 2004.
for marketing.
There are several methods that can be used to determine the estimated fair value of the IPR&D acquired in a business combination.
We utilized the “income method,” which applies a probability weighting to the estimated future net cash fl ows that are derived from projected sales revenues and estimated costs.
These projections are based on factors such as relevant market size, patent protection, historical pricing of similar products, and expected industry trends.
The estimated future net cash fl ows are then discounted to the present value using an appropriate discount rate.
This analysis is performed for each project independently.
In accordance with FIN 4, Applicability of FASB Statement No.2 to Business Combinations Accounted for by the Purchase Method, these acquired IPR&D intangible assets totaling $4.71 billion and $340.5 million in 2008 and 2007, respectively, were expensed immediately subsequent to the acquisition because the products had no alternative future use.
The ongoing activities with respect to each of these products in development are not material to our research and development expenses.
In addition to the acquisitions of businesses, we also acquired several products in development.
The acquired IPR&D related to these products of $122.0 million and $405.1 million in 2008 and 2007, respectively, was also written off by a charge to income immediately upon acquisition because the products had no alternative future use.
ImClone Acquisition On November 24, 2008, we acquired all of the outstanding shares of ImClone Systems Inc.  (ImClone), a biopharmaceutical company focused on advancing oncology care, for a total purchase price of approximately $6.5 billion, which was fi nanced through borrowings.
This strategic combination will offer both targeted therapies and oncolytic agents along with a pipeline spanning all phases of clinical development.
The combination also expands our biotechnology capabilities.
The acquisition has been accounted for as a business combination under the purchase method of accounting, resulting in goodwill of $419.5 million.
No portion of this goodwill is expected to be deductible for tax purposes.
Allocation of Purchase Price We are currently determining the fair values of a signifi cant portion of these net assets.
The purchase price has been preliminarily allocated based on an estimate of the fair value of assets acquired and liabilities assumed as of the date of acquisition.
The fi nal determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date.
Although the fi nal determination may result in asset and liability fair values that are different than the preliminary estimates of these amounts included herein, it is not expected that those differences will be material to our fi nancial results.
## Table 4 ##
1 This intangible asset will be amortized on a straight-line basis through 2023 in the U. S.  and 2018 in the rest of the world.
All of the estimated fair value of the acquired IPR&D is attributable to oncology-related products in development, including $1.33 billion to line extensions for Erbitux.
A signifi cant portion (81 percent) of the remaining value of acquired IPR&D is attributable to two compounds in Phase III clinical testing and one compound in Phase II clinical testing, all targeted to treat various forms of cancers.
The discount rate we used in valuing the acquired IPR&D projects was 13.5 percent, and the charge for acquired IPR&D of $4.69 billion recorded in the fourth quarter of 2008, was not deductible for tax purposes.
Pro Forma Financial Information The following unaudited pro forma fi nancial information presents the combined results of our operations with

<table><tr><td></td><td colspan="2">Notional amount in millions</td></tr><tr><td>Currency denomination</td><td>December 31,2013</td><td>December 31,2012</td></tr><tr><td>United States Dollar (USD)</td><td>98</td><td>110</td></tr><tr><td>British Pound Sterling (GBP)</td><td>170</td><td>227</td></tr><tr><td>Euro (EUR)</td><td>32</td><td>28</td></tr><tr><td>Singapore Dollar (SGD)</td><td>—</td><td>3</td></tr><tr><td>Indian Rupee (INR)</td><td>3,118</td><td>1,943</td></tr><tr><td>Japanese Yen (JPY)</td><td>1,357</td><td>384</td></tr><tr><td>Canadian Dollar (CAD)</td><td>14</td><td>59</td></tr><tr><td>South Korea Won (KRW)</td><td>21,855</td><td>35,266</td></tr><tr><td>Chinese Renmimbi (CNY)</td><td>331</td><td>45</td></tr><tr><td>Brazilian Real (BRL)</td><td>79</td><td>—</td></tr></table>
<table><tr><td></td><td colspan="2">For the Years Ended December 31,</td><td></td></tr><tr><td>(Millions of Dollars)</td><td>2016</td><td>2015</td><td>Variation</td></tr><tr><td>Operating revenues</td><td>$1,508</td><td>$1,527</td><td>$-19</td></tr><tr><td>Gas purchased for resale</td><td>319</td><td>337</td><td>-18</td></tr><tr><td>Other operations and maintenance</td><td>408</td><td>440</td><td>-32</td></tr><tr><td>Depreciation and amortization</td><td>159</td><td>142</td><td>17</td></tr><tr><td>Taxes, other than income taxes</td><td>265</td><td>252</td><td>13</td></tr><tr><td>Gas operating income</td><td>$357</td><td>$356</td><td>$1</td></tr></table>
<table><tr><td></td><td colspan="4">Thousands of Dt Delivered</td><td colspan="4">Revenues in Millions (a)</td></tr><tr><td></td><td colspan="2">For the Years Ended</td><td colspan="2"></td><td colspan="2">For the Years Ended</td><td colspan="2"></td></tr><tr><td>Description</td><td>December 31, 2016</td><td>December 31, 2015</td><td>Variation</td><td>PercentVariation</td><td>December 31, 2016</td><td>December 31, 2015</td><td>Variation</td><td>PercentVariation</td></tr><tr><td>Residential</td><td>47,794</td><td>49,024</td><td>-1,230</td><td>-2.5%</td><td>$667</td><td>$682</td><td>$-15</td><td>-2.2%</td></tr><tr><td>General</td><td>28,098</td><td>28,173</td><td>-75</td><td>-0.3</td><td>266</td><td>274</td><td>-8</td><td>-2.9</td></tr><tr><td>Firm transportation</td><td>68,442</td><td>72,864</td><td>-4,422</td><td>-6.1</td><td>426</td><td>458</td><td>-32</td><td>-7.0</td></tr><tr><td>Total firm sales and transportation</td><td>144,334</td><td>150,061</td><td>-5,727</td><td>-3.8(b)</td><td>1,359</td><td>1,414</td><td>-55</td><td>-3.9</td></tr><tr><td>Interruptible sales (c)</td><td>8,957</td><td>6,332</td><td>2,625</td><td>41.5</td><td>34</td><td>46</td><td>-12</td><td>-26.1</td></tr><tr><td>NYPA</td><td>43,101</td><td>44,038</td><td>-937</td><td>-2.1</td><td>2</td><td>2</td><td>—</td><td>—</td></tr><tr><td>Generation plants</td><td>87,835</td><td>83,634</td><td>4,201</td><td>5.0</td><td>25</td><td>26</td><td>-1</td><td>-3.8</td></tr><tr><td>Other</td><td>21,165</td><td>21,223</td><td>-58</td><td>-0.3</td><td>32</td><td>28</td><td>4</td><td>14.3</td></tr><tr><td>Other operating revenues (d)</td><td>—</td><td>—</td><td>—</td><td>—</td><td>56</td><td>11</td><td>45</td><td>Large</td></tr><tr><td>Total</td><td>305,392</td><td>305,288</td><td>104</td><td>—%</td><td>$1,508</td><td>$1,527</td><td>$-19</td><td>-1.2%</td></tr></table>
<table><tr><td></td><td colspan="2">November 30,</td></tr><tr><td></td><td>2006</td><td>2005</td></tr><tr><td></td><td colspan="2">(In thousands)</td></tr><tr><td>Warranty reserve, beginning of year</td><td>$144,916</td><td>116,826</td></tr><tr><td>Warranties issued during the period</td><td>170,020</td><td>145,519</td></tr><tr><td>Adjustments to pre-existing warranties from changes in estimates</td><td>25,487</td><td>31,766</td></tr><tr><td>Payments</td><td>-167,852</td><td>-149,195</td></tr><tr><td>Warranty reserve, end of year</td><td>$172,571</td><td>144,916</td></tr></table>
<table><tr><td>Cash and short-term investments</td><td>$982.9</td></tr><tr><td>Inventories</td><td>136.2</td></tr><tr><td>Developed product technology (Erbitux)<sup>1</sup></td><td>1,057.9</td></tr><tr><td>Goodwill</td><td>419.5</td></tr><tr><td>Property and equipment</td><td>339.8</td></tr><tr><td>Debt assumed</td><td>-600.0</td></tr><tr><td>Deferred taxes</td><td>-315.0</td></tr><tr><td>Deferred income</td><td>-127.7</td></tr><tr><td>Other assets and liabilities — net</td><td>-72.1</td></tr><tr><td>Acquired in-process research and development</td><td>4,685.4</td></tr><tr><td>Total purchase price</td><td>$6,506.9</td></tr></table>

Question: what i the yearly amortization expense related to developed product technology?