Our International Networks segment also owns and operates the following regional television networks, which reached the following number of subscribers and viewers via pay and FTA or broadcast networks, respectively, as of December 31, 2017:
## Table 0 ##
(a) Number of subscribers corresponds to the sum of the subscribers to each of the Nordic broadcast networks in Sweden, Norway, Finland and Denmark subject to retransmission agreements with pay-TV providers.
The Nordic broadcast networks include Kanal 5, Kanal 9, and Kanal 11 in Sweden, TV Norge, MAX, FEM and VOX in Norway, TV 5, Kutonen, and Frii in Finland, and Kanal 4, Kanal 5, 6'eren, and Canal 9 in Denmark.
Similar to U. S.  Networks, a significant source of revenue for International Networks relates to fees charged to operators who distribute our linear networks.
Such operators primarily include cable and DTH satellite service providers, internet protocol television ("IPTV") and over-the-top operators ("OTT").
International television markets vary in their stages of development.
Some markets, such as the U. K. , are more advanced digital television markets, while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies.
Common practice in international markets results in long-term contractual distribution relationships with terms generally shorter than similar customers in the U. S.  Distribution revenue for our International Networks segment is largely dependent on the number of subscribers that receive our networks or content, the rates negotiated in the distributor agreements, and the market demand for the content that we provide.
The other significant source of revenue for International Networks relates to advertising sold on our television networks and across other distribution platforms, similar to U. S.  Networks.
Advertising revenue is dependent upon a number of factors, including the development of pay and FTA television markets, the number of subscribers to and viewers of our channels, viewership demographics, the popularity of our programming, and our ability to sell commercial time over all media platforms.
In certain markets, our advertising sales business operates with in-house sales teams, while we rely on external sales representation services in other markets.
During 2017, distribution, advertising and other revenues were 57%, 41% and 2%, respectively, of total net revenues for this segment.
While the Company has traditionally operated cable networks, in recent years an increasing portion of the Company's international advertising revenue is generated by FTA or broadcast networks, unlike U. S.  Networks.
During 2017, FTA or broadcast networks generated 54% of International Networks' advertising revenue and pay-TV networks generated 46% of International Networks' advertising revenue.
International Networks' largest cost is content expense for localized programming disseminated via more than 400 unique distribution feeds.
While our International Networks segment maximizes the use of programming from U. S.  Networks, we also develop local programming that is tailored to individual market preferences and license the rights to air films, television series and
(b) Under the stock repurchase program, management was authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors.
The Company's authorization under the program expired on October 8, 2017 and we have not repurchased any shares of common stock since then.
We historically have funded and in the future may fund stock repurchases through a combination of cash on hand and cash generated by operations and the issuance of debt.
In the future, if further authorization is provided, we may also choose to fund stock repurchases through borrowings under our revolving credit facility or future financing transactions.
There were no repurchases of our Series A and B common stock during 2017 and no repurchases of Series C common stock during the three months ended December 31, 2017.
The Company first announced its stock repurchase program on August 3, 2010.
(c) We entered into an agreement with Advance/Newhouse to repurchase, on a quarterly basis, a number of shares of Series C-1 convertible preferred stock convertible into a number of shares of Series C common stock.
We did not convert any any shares of Series C-1 convertible preferred stock during the three months ended December 31, 2017.
There are no planned repurchases of Series C-1 convertible preferred stock for the first quarter of 2018 as there were no repurchases of Series A or Series C common stock during the three months ended December 31, 2017.
Stock Performance Graph The following graph sets forth the cumulative total shareholder return on our Series A common stock, Series B common stock and Series C common stock as compared with the cumulative total return of the companies listed in the Standard and Poor’s 500 Stock Index (“S&P 500 Index”) and a peer group of companies comprised of CBS Corporation Class B common stock, Scripps Network Interactive, Inc. , Time Warner, Inc. , Twenty-First Century Fox, Inc.  Class A common stock (News Corporation Class A Common Stock prior to June 2013), Viacom, Inc.  Class B common stock and The Walt Disney Company.
The graph assumes $100 originally invested on December 31, 2012 in each of our Series A common stock, Series B common stock and Series C common stock, the S&P 500 Index, and the stock of our peer group companies, including reinvestment of dividends, for the years ended December 31, 2013, 2014, 2015, 2016 and 2017.
## Table 1 ##
Income Taxes The following table reconciles the Company's effective income tax rate to the U. S.  federal statutory income tax rate.
## Table 2 ##
Income tax expense was $176 million and $453 million and our effective tax rate was (128)% and 27% for 2017 and 2016, respectively.
During 2017, the decrease in the effective tax rate was primarily attributable to the impact of non-cash goodwill impairment charges that are non-deductible for tax purposes.
Thereafter, the decrease in the effective tax rate was primarily due to investment tax credits that we receive related to our renewable energy investments, and to a lesser extent, the domestic production activity deduction benefit, the allocation and taxation of income among multiple foreign and domestic jurisdictions, and the impact of the 2017 Tax Act (see Note 16 to the accompanying consolidating financial statements).
The benefits were partially offset by an increase in reserves for uncertain tax positions in 2017.
In 2016, we favorably resolved multi-year state tax positions that resulted in a reduction of reserves related to uncertain tax positions that did not recur in 2017.
International Networks Year Ended December 31,
## Table 3 ##

<table><tr><td></td><td>Television Service</td><td>InternationalSubscribers/Viewers(millions)</td></tr><tr><td>Quest</td><td>FTA</td><td>66</td></tr><tr><td>Dsport</td><td>FTA</td><td>43</td></tr><tr><td>Nordic broadcast networks<sup>(a)</sup></td><td>Broadcast</td><td>34</td></tr><tr><td>Quest Red</td><td>FTA</td><td>27</td></tr><tr><td>Giallo</td><td>FTA</td><td>25</td></tr><tr><td>Frisbee</td><td>FTA</td><td>25</td></tr><tr><td>Focus</td><td>FTA</td><td>25</td></tr><tr><td>K2</td><td>FTA</td><td>25</td></tr><tr><td>Nove</td><td>FTA</td><td>25</td></tr><tr><td>Discovery HD World</td><td>Pay</td><td>17</td></tr><tr><td>DKISS</td><td>Pay</td><td>15</td></tr><tr><td>Shed</td><td>Pay</td><td>12</td></tr><tr><td>Discovery HD Theater</td><td>Pay</td><td>11</td></tr><tr><td>Discovery History</td><td>Pay</td><td>10</td></tr><tr><td>Discovery Civilization</td><td>Pay</td><td>8</td></tr><tr><td>Discovery World</td><td>Pay</td><td>6</td></tr><tr><td>Discovery en Espanol (U.S.)</td><td>Pay</td><td>6</td></tr><tr><td>Discovery Familia (U.S.)</td><td>Pay</td><td>6</td></tr><tr><td>Discovery Historia</td><td>Pay</td><td>6</td></tr></table>
<table><tr><td></td><td>December 31,2012</td><td>December 31,2013</td><td>December 31,2014</td><td>December 31,2015</td><td>December 31,2016</td><td>December 31,2017</td></tr><tr><td>DISCA</td><td>$100.00</td><td>$139.42</td><td>$106.23</td><td>$82.27</td><td>$84.53</td><td>$69.01</td></tr><tr><td>DISCB</td><td>$100.00</td><td>$144.61</td><td>$116.45</td><td>$85.03</td><td>$91.70</td><td>$78.01</td></tr><tr><td>DISCK</td><td>$100.00</td><td>$143.35</td><td>$115.28</td><td>$86.22</td><td>$91.56</td><td>$72.38</td></tr><tr><td>S&P 500</td><td>$100.00</td><td>$129.60</td><td>$144.36</td><td>$143.31</td><td>$156.98</td><td>$187.47</td></tr><tr><td>Peer Group</td><td>$100.00</td><td>$163.16</td><td>$186.87</td><td>$180.10</td><td>$200.65</td><td>$208.79</td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December 31,</td></tr><tr><td></td><td>2017</td><td>2016</td></tr><tr><td>U.S. federal statutory income tax rate</td><td>35%</td><td>35%</td></tr><tr><td>State and local income taxes, net of federal tax benefit</td><td>-18%</td><td>-2%</td></tr><tr><td>Effect of foreign operations</td><td>25%</td><td>-1%</td></tr><tr><td>Domestic production activity deductions</td><td>39%</td><td>-4%</td></tr><tr><td>Change in uncertain tax positions</td><td>-44%</td><td>—%</td></tr><tr><td>Goodwill impairment</td><td>-334%</td><td>—%</td></tr><tr><td>Renewable energy investments tax credits</td><td>142%</td><td>-1%</td></tr><tr><td>Preferred stock modification</td><td>-9%</td><td>—%</td></tr><tr><td>Impact of Tax Reform Act</td><td>32%</td><td>—%</td></tr><tr><td>Other, net</td><td>4%</td><td>—%</td></tr><tr><td>Effective income tax rate</td><td>-128%</td><td>27%</td></tr></table>
<table><tr><td>International Networks</td><td colspan="4">Year Ended December 31,</td></tr><tr><td></td><td>2017</td><td>2016</td><td>% Change(Reported)</td><td>% Change(ex-FX)</td></tr><tr><td>Revenues:</td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution</td><td>$1,862</td><td>$1,681</td><td>11%</td><td>9%</td></tr><tr><td>Advertising</td><td>1,332</td><td>1,279</td><td>4%</td><td>3%</td></tr><tr><td>Other</td><td>87</td><td>80</td><td>9%</td><td>8%</td></tr><tr><td>Total revenues</td><td>3,281</td><td>3,040</td><td>8%</td><td>7%</td></tr><tr><td>Costs of revenue, excluding depreciation and amortization</td><td>-1,677</td><td>-1,462</td><td>15%</td><td>12%</td></tr><tr><td>Selling, general and administrative expenses</td><td>-745</td><td>-743</td><td>—%</td><td>—%</td></tr><tr><td>Adjusted OIBDA</td><td>$859</td><td>$835</td><td>3%</td><td>3%</td></tr></table>

Question: what was the percentage cumulative total shareholder return on disca common stock for the five year period ended december 31 , 2017?