The following table provides a reconciliation between the beginning and ending balances of items measured at fair value on a recurring basis in the tables above that used significant unobservable inputs (Level 3).
## Table 0 ##
The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Money Market Funds.
Our money market fund investments were classified as Level 1 or 2.
If a fund is not trading on a regular basis, and we have been unable to obtain pricing information on an ongoing basis, we classify the fund as Level 2.
U. S.  Treasury Bills.
Our U. S.  Treasury notes were classified as Level 1 as they trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis.
Derivative Instruments.
Comprised primarily of foreign currency forward contracts and foreign currency swap contracts, our derivative instruments were measured at fair value using readily observable market inputs, such as quotations on forward foreign exchange points and foreign interest rates.
Our derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market.
Auction-Rate Securities.
Our investments in ARS were classified as Level 3 as quoted prices were unavailable due to events described in Note 3, Investments.
Due to limited market information, we utilized a discounted cash flow (“DCF”) model to derive an estimate of fair value at February 27, 2010.
The assumptions used in preparing the DCF model included estimates with respect to the amount and timing of future interest and principal payments, forward projections of the interest rate benchmarks, the probability of full repayment of the principal considering the credit quality and guarantees in place, and the rate of return required by investors to own such securities given the current liquidity risk associated with ARS.
Marketable Equity Securities.
Our marketable equity securities were measured at fair value using quoted market prices.
They were classified as Level 1 as they trade in an active market for which closing stock prices are readily available.
Deferred Compensation.
Our deferred compensation liabilities and the assets that fund our deferred compensation consist of investments in mutual funds.
These investments were classified as Level 1 as the shares of these mutual funds trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis.
Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Beginning March 1, 2009, we were required to disclose prospectively nonfinancial assets and liabilities that are measured at fair value, but are recognized and disclosed at fair value on a nonrecurring basis.
During fiscal 2010, such measurements of fair value related primarily to our tangible fixed assets, goodwill and other intangible assets, and we had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition.
During fiscal 2009, we had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition, except as discussed in Note 1, Summary of Significant Accounting Policies, as it relates to our goodwill and other intangible assets and in Note 5, Restructuring Charges, as it relates to property and equipment write-downs.
Fair Value of Financial Instruments Our financial instruments, other than those presented in the disclosures above, include cash, receivables, other investments, accounts payable, accrued liabilities and short- and long-term debt.
The fair values of cash, receivables, accounts payable, accrued liabilities and
OTE 11.
STOCK COMPENSATION PLANS AND STOCK-BASED COMPENSATION Equity Incentive Plans Cadence’s 2000 Equity Incentive Plan, as amended, or 2000 Plan, provides for the issuance of non-qualified options, restricted stock awards, restricted stock units, stock bonuses and the rights to acquired restricted stock.
The total number of shares available for issuance under the 2000 Plan, as amended, is 57,500,000 plus any shares that were not subject to a grant or that are forfeited under prior plans that were terminated and incorporated into the 2000 Plan.
Options granted under the 2000 Plan have an exercise price not less than the fair market value of the stock on the date of grant.
Options and restricted stock generally vest over a three to four-year period.
Options granted under the 2000 Plan expire seven years from the date of grant.
Cadence’s 1987 Stock Incentive Plan, or the 1987 Plan, provides for the issuance of either incentive or nonqualified options and restricted stock awards.
The 1987 Plan is used to grant awards to certain executive officers.
The number of shares available for issuance under the 1987 Plan, as amended, is 79,370,100 shares, of which only 5,000,000 shares may be issued pursuant to restricted stock awards.
Options granted under the 1987 Plan have an exercise price not less than fair market value of the stock on the date of grant and become exercisable over periods of up to five years, and expire seven years from the date of grant.
Vesting of restricted stock awards granted under the 1987 Plan may require attainment of specified performance criteria.
Under the 1995 Directors Stock Incentive Plan, or the Directors Plan, Cadence may grant non-qualified options to its non-employee directors at an exercise price not less than the fair market value of the stock on the date of grant.
The maximum number of shares available for issuance under the Directors Plan is 3,550,000.
Options granted under the Directors Plan expire after ten years and vest one year from the date of grant.
Cadence has assumed certain options granted to employees of acquired companies, or Acquired Options.
The Acquired Options were assumed by Cadence outside of its stock option plans, and each option is administered under the terms of the respective original plans of the acquired companies.
All of the Acquired Options have been adjusted for the price conversion under the terms of the acquisition agreement between Cadence and the relevant acquired company.
If the Acquired Options are cancelled, forfeited or expire, they do not become available for future grant.
No additional options will be granted under any of the acquired companies’ plans.
Stock-based Compensation Stock-based compensation expense and the related income tax benefit recognized in connection with stock options, restricted stock and the Employee Stock Purchase Plan, or ESPP, during fiscal 2012, 2011 and 2010 were as follows:
## Table 1 ##
Notes to Consolidated Financial Statements—(Continued) (Amounts in Millions, Except Per Share Amounts) As required by SFAS No.109, Accounting for Income Tax (“SFAS 109”), we evaluate on a quarterly basis the realizability of our deferred tax assets.
SFAS 109 requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.
In circumstances where there is sufficient negative evidence, establishment of a valuation allowance must be considered.
We believe that cumulative losses in the most recent three-year period represent significant negative evidence under the provisions of SFAS 109, and as a result, we determined that certain of our deferred tax assets required the establishment of a valuation allowance.
The realization of our deferred tax assets is primarily dependent on future earnings.
The amount of the deferred tax assets considered realizable could be reduced in the near future if estimates of future taxable income are lower than anticipated.
The deferred tax assets for which an allowance was recognized relate primarily to tax credit carryforwards, foreign tax loss carryforwards and U. S.  capital loss carryforwards.
The change in the valuation allowance during the period is as follows:
## Table 2 ##
In 2008, amounts reversed to costs and expenses primarily relate to the reversal of valuation allowances in the UK, Spain and Germany where we believe that it is more likely than not that the corresponding tax losses will be utilized, based on sufficient positive evidence in the form of sustained profitability and projected taxable income.
We believe we have appropriately considered the current economic climate in relying on the level of projected taxable income.
Amounts reversed to gross tax assets and other accounts relate primarily to the effect of foreign currency translation.
In 2007, amounts reversed to costs and expenses primarily relate to a reversal from the write-down of deferred tax assets in certain jurisdictions with existing valuation allowances due to tax law changes.
The remainder relates to reversals of valuation allowances in various countries where we believe that it is now more likely than not that tax loss carryforwards will be utilized.
Amounts charged to gross tax assets and other accounts relate primarily to the effect of foreign currency translation.
The change during 2006 in the deferred tax valuation allowance relates to uncertainties regarding future utilization of tax loss carryforwards, offset primarily by reversals of $45.0 of valuation allowances in two European countries where we believed that it was more likely than not that the corresponding tax loss carryforwards will be utilized.
In addition, we believed that it was more likely than not that approximately $29.0 of U. S.  capital loss carryforwards and $17.0 of foreign tax credits would not be utilized.
We also wrote off previously reserved deferred tax assets that were deemed to be permanently unrealizable due to the expiration of tax loss carryforwards and sales of certain businesses.
As of December 31, 2008, there are $68.1 of tax credit carryforwards with expiration periods beginning in 2009 and ending in 2013.
There are also $1,401.6 of loss carryforwards, of which $397.7 are U. S.  capital and tax loss carryforwards that expire in the years 2009 through 2026.
The remaining $1,003.9 are non-U.
S.  tax loss carryforwards of which $742.9 have unlimited carryforward periods and $261.0 have expiration periods from 2009 through 2028.
As of December 31, 2008 and December 31, 2007, we had $1,561.0 and $1,260.6, respectively, of undistributed earnings attributable to foreign subsidiaries.
It is our intention to permanently reinvest undistributed earnings of our foreign subsidiaries.
We have not provided deferred U. S.  income taxes or foreign
People’s United Financial, Inc.  and Subsidiaries Notes to Consolidated Financial Statements The pre-tax amounts in AOCL that have not been recognized as components of net periodic benefit cost are as follows:
## Table 3 ##
The Company uses a corridor approach in the valuation of its defined benefit pension plans, which results in the deferral of actuarial gains and losses resulting from differences between actual results and actuarial assumptions.
Amortization of actuarial gains and losses occurs when the accumulated unrecognized gain or loss balance, as of the beginning of the year, exceeds 10% of the greater of the projected benefit obligation or the market-related value of plan assets.
The excess unrecognized gain or loss balance is amortized over the average remaining life expectancy of plan participants which, for the Qualified Plan, was approximately 30 years as of December 31, 2014.
In 2015, approximately $6.0 million in net actuarial losses is expected to be recognized as a component of net periodic benefit cost for the Pension Plans and approximately $0.3 million in net actuarial losses and $(0.2) million prior service credit are expected to be recognized as components of net periodic benefit cost for the other postretirement benefits plan.
The following assumptions were used in determining the benefit obligations and net periodic benefit (income) expense as of and for the periods indicated:

<table><tr><td></td><td colspan="4">Debt securities — Auction-rate securities only</td></tr><tr><td></td><td>Student loan bonds</td><td>Municipal revenue bonds</td><td>Auction preferred securities</td><td>Total</td></tr><tr><td>Balances at March 1, 2008</td><td>$297</td><td>$97</td><td>$23</td><td>$417</td></tr><tr><td>Changes in unrealized losses in other comprehensive income</td><td>-12</td><td>-2</td><td>-1</td><td>-15</td></tr><tr><td>Purchases, sales and settlements, net</td><td>-7</td><td>-71</td><td>-8</td><td>-86</td></tr><tr><td>Interest received, net</td><td>-2</td><td>—</td><td>—</td><td>-2</td></tr><tr><td>Balances at February 28, 2009</td><td>$276</td><td>$24</td><td>$14</td><td>$314</td></tr><tr><td>Changes in unrealized gains in other comprehensive income</td><td>8</td><td>1</td><td>1</td><td>10</td></tr><tr><td>Purchases, sales and settlements, net</td><td>-22</td><td>-6</td><td>-15</td><td>-43</td></tr><tr><td>Interest received, net</td><td>-1</td><td>—</td><td>—</td><td>-1</td></tr><tr><td>Balances at February 27, 2010</td><td>$261</td><td>$19</td><td>$—</td><td>$280</td></tr></table>
<table><tr><td></td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td></td><td colspan="3">(In thousands)</td></tr><tr><td>Stock options</td><td>$8,752</td><td>$8,685</td><td>$7,924</td></tr><tr><td>Restricted stock</td><td>34,838</td><td>30,815</td><td>31,725</td></tr><tr><td>ESPP</td><td>3,971</td><td>4,088</td><td>3,811</td></tr><tr><td>Total stock-based compensation expense</td><td>$47,561</td><td>$43,588</td><td>$43,460</td></tr><tr><td>Income tax benefit</td><td>$12,453</td><td>$1,406</td><td>$1,370</td></tr></table>
<table><tr><td></td><td colspan="3">Years ended December 31,</td></tr><tr><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Balance at beginning of period</td><td>$481.6</td><td>$504.0</td><td>$501.0</td></tr><tr><td>(Reversed) charged to costs and expenses</td><td>-68.1</td><td>-49.0</td><td>63.6</td></tr><tr><td>(Reversed) charged to gross tax assets and other accounts</td><td>-34.0</td><td>26.6</td><td>-60.6</td></tr><tr><td>Balance at end of period</td><td>$379.5</td><td>$481.6</td><td>$504.0</td></tr></table>
<table><tr><td></td><td colspan="2">Pension Benefits</td><td colspan="2">Other Postretirement Benefits</td></tr><tr><td>As of December 31 (in millions)</td><td>2014</td><td>2013</td><td>2014</td><td>2013</td></tr><tr><td>Net actuarial loss</td><td>$203.5</td><td>$123.4</td><td>$5.1</td><td>$0.3</td></tr><tr><td>Prior service credit</td><td>—</td><td>—</td><td>-0.2</td><td>-0.4</td></tr><tr><td>Total pre-tax amounts included in AOCL</td><td>$203.5</td><td>$123.4</td><td>$4.9</td><td>$-0.1</td></tr></table>

Question: What is the sum of Stock options in 2012 and Changes in unrealized losses in other comprehensive income for Student loan bonds in 2008?