ABIOMED, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Note 12.
Stock Award Plans and Stock Based Compensation (Continued) Prior to April 1, 2006, the Company accounted for stock-based compensation plans in accordance with the provisions of APB No.25.
The Company followed the disclosure-only alternative requirements of SFAS No.123, Accounting for Stock-Based Compensation.
Accordingly, we did not recognize compensation expense for the issuance of options with fixed exercise prices at least equal to the fair market value at the date of the grant.
Total stock-based compensation recognized in the Company’s consolidated statements of operations for the fiscal years ended March 31, 2008 and 2007 were as follows:
## Table 0 ##
For purposes of pro forma disclosures under SFAS 123 for the year ended March 31, 2006, the estimated fair value of the stock options was amortized to expense over the stock options’ vesting periods.
The pro forma effects of recognizing estimated compensation expense under the fair value method on net loss and loss per common share for the year ended March 31, 2006 were as follows:
## Table 1 ##
The $5.4 million in stock-based compensation expense for the year ended March 31, 2008 includes $5.0 million related to stock options and $0.4 million related to restricted stock and the Company’s Employee Stock Purchase Plan (“the Purchase Plan” or “ESPP”).
The $5.8 million in stock-based compensation expense for the year ended March 31, 2007 includes $5.6 related to stock options and $0.2 million related to restricted stock and the Company’s Employee Stock Purchase Plan (“the Purchase Plan” or “ESPP”).
The remaining unrecognized stock-based compensation expense for unvested stock option awards at March 31, 2008 was approximately $8.4 million, net of forfeitures, and the weighted-average time over which this cost will be recognized is 1.2 years.
SFAS No.123(R) also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow, rather than as an operating cash flow.
Because the Company does not recognize the benefit of tax deductions in excess of recognized compensation cost due to its net operating loss position, this had no impact on the Company’s consolidated statement of cash flows for the year ended March 31, 2008.
Stock Option Activity The following table summarized stock option activity for the year ended March 31, 2008:
## Table 2 ##
The following table presents the assignment of the allowance for loan and lease losses and the categories of loans as a percentage of total loans.
Changes in the allocation over time reflect the changes in loan portfolio composition, risk profile and refinements to reserve methodologies.
ALLOCATION OF ALLOWANCE FOR LOAN AND LEASE LOSSES
## Table 3 ##
TIME DEPOSITS The aggregate amount of time deposits with a denomination of $100,000 or more was $7.7 billion at December 31, 2016 and $9.4 billion at December 31, 2015.
Time deposits of $100,000 or more included time deposits in foreign offices of $1.7 billion at December 31, 2016.
Domestic time deposits of $100,000 or more were $6.0 billion at December 31, 2016 with the following maturities:
## Table 4 ##
SELECTED LOAN MATURITIES AND INTEREST SENSITIVITY
## Table 5 ##
At December 31, 2016, we had no pay-fixed interest rate swaps designated to commercial loans as part of fair value hedge strategies.
At December 31, 2016, $17.5 billion notional amount of receive-fixed interest rate swaps were designated as part of cash flow hedging strategies that converted the floating rate (1 month LIBOR) on the underlying commercial loans to a fixed rate as part of risk management strategies.
COMMON STOCK PRICES/DIVIDENDS DECLARED The table below sets forth by quarter the range of high and low sale and quarter-end closing prices for The PNC Financial Services Group, Inc.  common stock and the cash dividends declared per common share.
## Table 6 ##
(a) Our Board of Directors approved a first quarter 2017 cash dividend of $.55 per common share, which was payable on February 5, 2017.
brokered home equity lines of credit).
As part of our overall risk analysis and monitoring, we segment the home equity portfolio based upon the loan delinquency, modification status and bankruptcy status, as well as the delinquency, modification status and bankruptcy status of any mortgage loan with the same borrower (regardless of whether it is a first lien senior to our second lien).
In establishing our ALLL for non-impaired loans, we utilize a delinquency roll-rate methodology for pools of loans.
The roll-rate methodology estimates transition/roll of loan balances from one delinquency state to the next delinquency state and ultimately to charge-off.
The roll through to charge-off is based on our actual loss experience for each type of pool.
Each of our home equity pools contains both first and second liens.
Our experience has been that the ratio of first to second lien loans has been consistent over time and the charge-off amounts for the pools, used to establish our allowance, include losses on both first and second lien loans.
Generally, our variable-rate home equity lines of credit have either a seven or ten year draw period, followed by a 20-year amortization term.
During the draw period, we have home equity lines of credit where borrowers pay either interest only or principal and interest.
We view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only, as these borrowers have a demonstrated ability to make some level of principal and interest payments.
The risk associated with the borrower’s ability to satisfy the loan terms upon the draw period ending is considered in establishing our ALLL.
Based upon outstanding balances at December 31, 2016, the following table presents the periods when home equity lines of credit draw periods are scheduled to end.
Table 18: Home Equity Lines of Credit – Draw Period End Dates

<table><tr><td></td><td colspan="2"> March 31,</td></tr><tr><td></td><td> 2008</td><td> 2007</td></tr><tr><td></td><td colspan="2"> (in $000’s)</td></tr><tr><td>Cost of product revenue</td><td>$301</td><td>$255</td></tr><tr><td>Research and development</td><td>1,297</td><td>1,656</td></tr><tr><td>Selling, general and administrative</td><td>3,778</td><td>3,937</td></tr><tr><td></td><td>$5,376</td><td>$5,848</td></tr></table>
<table><tr><td></td><td>2006 (in $000’s)</td></tr><tr><td>Net loss, as reported</td><td>$-29,449</td></tr><tr><td>Add: Stock-based compensation included in reported net loss</td><td>340</td></tr><tr><td>Deduct: Total stock-based employee compensation expense determined underfair value based method for all awards</td><td>-6,307</td></tr><tr><td>Pro forma net loss</td><td>$-35,416</td></tr><tr><td>Basic and diluted loss per share</td><td></td></tr><tr><td>As reported</td><td>$-1.15</td></tr><tr><td>Pro forma</td><td>$-1.38</td></tr></table>
<table><tr><td></td><td>Options (in thousands)</td><td> Weighted  Average Exercise Price</td><td> Weighted Average Remaining Contractual Term (years)</td><td> Aggregate Intrinsic Value  (in thousands)</td></tr><tr><td>Outstanding at beginning of year</td><td>4,306</td><td>$11.04</td><td></td><td></td></tr><tr><td>Granted</td><td>846</td><td>12.60</td><td></td><td></td></tr><tr><td>Exercised</td><td>-355</td><td>7.92</td><td></td><td></td></tr><tr><td>Cancelled</td><td>-361</td><td>12.32</td><td></td><td></td></tr><tr><td>Outstanding at end of year</td><td>4,436</td><td>$11.49</td><td>6.65</td><td>$10,453</td></tr><tr><td>Exercisable at end of year</td><td>2,461</td><td>$11.08</td><td>5.42</td><td>$7,587</td></tr><tr><td>Vested and Unvested expected to vest at end of year</td><td>4,162</td><td>$11.45</td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="2">2016</td><td colspan="2">2015</td><td colspan="2">2014</td><td colspan="2">2013</td><td colspan="2">2012</td></tr><tr><td>December 31 Dollars in millions</td><td>Allowance</td><td>Loans to Total Loans</td><td>Allowance</td><td>Loans to Total Loans</td><td>Allowance</td><td>Loans to Total Loans</td><td>Allowance</td><td>Loans to Total Loans</td><td>Allowance</td><td>Loans toTotal Loans</td></tr><tr><td>Commercial</td><td>$1,179</td><td>48.1%</td><td>$1,286</td><td>47.7%</td><td>$1,209</td><td>47.6%</td><td>$1,100</td><td>45.2%</td><td>$1,131</td><td>44.7%</td></tr><tr><td>Commercial real estate</td><td>320</td><td>13.8</td><td>281</td><td>13.3</td><td>318</td><td>11.4</td><td>400</td><td>10.8</td><td>589</td><td>10.0</td></tr><tr><td>Equipment lease financing</td><td>35</td><td>3.6</td><td>38</td><td>3.6</td><td>44</td><td>3.7</td><td>47</td><td>3.9</td><td>54</td><td>3.9</td></tr><tr><td>Home equity</td><td>357</td><td>14.2</td><td>484</td><td>15.5</td><td>872</td><td>16.9</td><td>1,051</td><td>18.6</td><td>1,044</td><td>19.3</td></tr><tr><td>Residential real estate</td><td>332</td><td>7.4</td><td>307</td><td>7.0</td><td>561</td><td>7.0</td><td>642</td><td>7.7</td><td>847</td><td>8.2</td></tr><tr><td>Credit card</td><td>181</td><td>2.5</td><td>167</td><td>2.4</td><td>173</td><td>2.3</td><td>169</td><td>2.3</td><td>199</td><td>2.3</td></tr><tr><td>Other consumer</td><td>185</td><td>10.4</td><td>164</td><td>10.5</td><td>154</td><td>11.1</td><td>200</td><td>11.5</td><td>172</td><td>11.6</td></tr><tr><td>Total</td><td>$2,589</td><td>100.0%</td><td>$2,727</td><td>100.0%</td><td>$3,331</td><td>100.0%</td><td>$3,609</td><td>100.0%</td><td>$4,036</td><td>100.0%</td></tr></table>
<table><tr><td>December 31, 2016 – in billions</td><td>DomesticCertificatesof Deposit</td></tr><tr><td>Three months or less</td><td>$1.6</td></tr><tr><td>Over three through six months</td><td>1.0</td></tr><tr><td>Over six through twelve months</td><td>1.5</td></tr><tr><td>Over twelve months</td><td>1.9</td></tr><tr><td>Total</td><td>$6.0</td></tr></table>
<table><tr><td>December 31, 2016In millions</td><td>1 Year orLess</td><td>1 Through5 Years</td><td>After5 Years</td><td>GrossLoans</td></tr><tr><td>Commercial</td><td>$27,656</td><td>$64,109</td><td>$9,599</td><td>$101,364</td></tr><tr><td>Commercial real estate</td><td>7,404</td><td>15,658</td><td>5,948</td><td>29,010</td></tr><tr><td>Total</td><td>$35,060</td><td>$79,767</td><td>$15,547</td><td>$130,374</td></tr><tr><td>Loans with:</td><td></td><td></td><td></td><td></td></tr><tr><td>Predetermined rate</td><td>$5,902</td><td>$11,116</td><td>$6,392</td><td>$23,410</td></tr><tr><td>Floating or adjustable rate</td><td>29,158</td><td>68,651</td><td>9,155</td><td>106,964</td></tr><tr><td>Total</td><td>$35,060</td><td>$79,767</td><td>$15,547</td><td>$130,374</td></tr></table>
<table><tr><td></td><td>High</td><td>Low</td><td>Close</td><td>CashDividendsDeclared(a)</td></tr><tr><td>2016 Quarter</td><td></td><td></td><td></td><td></td></tr><tr><td>First</td><td>$94.26</td><td>$77.67</td><td>$84.57</td><td>$.51</td></tr><tr><td>Second</td><td>90.85</td><td>77.40</td><td>81.39</td><td>.51</td></tr><tr><td>Third</td><td>91.39</td><td>77.86</td><td>90.09</td><td>.55</td></tr><tr><td>Fourth</td><td>118.57</td><td>87.34</td><td>116.96</td><td>.55</td></tr><tr><td>Total</td><td></td><td></td><td></td><td>$2.12</td></tr><tr><td>2015 Quarter</td><td></td><td></td><td></td><td></td></tr><tr><td>First</td><td>$96.71</td><td>$81.84</td><td>$93.24</td><td>$.48</td></tr><tr><td>Second</td><td>99.61</td><td>90.42</td><td>95.65</td><td>.51</td></tr><tr><td>Third</td><td>100.52</td><td>82.77</td><td>89.20</td><td>.51</td></tr><tr><td>Fourth</td><td>97.50</td><td>84.93</td><td>95.31</td><td>.51</td></tr><tr><td>Total</td><td></td><td></td><td></td><td>$2.01</td></tr></table>

Question: In which year is Commercial real estate for Allowance greater than 400?