NOTES TO CONSOLIDATED FINANCIAL STATEMENTS of shares to be delivered at settlement of the accelerated share repurchase transaction was based on a discount to the average daily volume-weighted average price of the Bancorp’s common stock during the term of the Repurchase Agreements.
Each of the accelerated share repurchases was treated as two separate transactions (i) the acquisition of treasury shares on the acquisition date and (ii) a forward contract indexed to the Bancorp’s stock.
At settlement of the April 2012 forward contract on June 1, 2012, the Bancorp received an additional 631,986 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date.
On August 21, 2012, the Bancorp announced that the FRB did not object to its capital plan resubmitted under the CCAR process, which included the repurchases of common shares of up to $600 million through the first quarter of 2013, in addition to any incremental repurchase of common shares related to any after-tax gains realized by the Bancorp from the sale of Vantiv, Inc.  common shares by either the Bancorp or Vantiv, Inc.  As a result, on August 21, 2012, Fifth Third’s Board of Directors authorized the Bancorp to repurchase up to 100 million shares of its outstanding common stock in the open market or in privately negotiated transactions, and to utilize any derivative or similar instrument to affect share repurchase transactions.
This share repurchase authorization replaces the Board’s previous authorization pursuant to which approximately 14 million shares remained available for repurchase by the Bancorp.
On August 23, 2012, the Bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the Bancorp purchased 21,531,100 shares, or approximately $350 million, of its outstanding common stock on August 28, 2012.
At settlement of the forward contract on October 24, 2012, the Bancorp received an additional 1,444,047 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date.
On November 6, 2012, the Bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the Bancorp purchased 7,710,761 shares, or approximately $125 million, of its outstanding common stock on November 9, 2012.
At settlement of the forward contract on February 12, 2013, the Bancorp received an additional 657,917 shares which were recorded as an adjustment to the basis in the treasury shares purchased on the acquisition date.
Following the sale of a portion of the Bancorp’s shares of Class A Vantiv, Inc.  common stock, the Bancorp entered into an accelerated share repurchase transaction on December 14, 2012 with a counterparty pursuant to which the Bancorp purchased 6,267,410 shares, or approximately $100 million, of its outstanding common stock on December 19, 2012.
The Bancorp expects the settlement of the transaction to occur on or before March 14, 2013.
Additionally, on January 28, 2013, the Bancorp entered into an accelerated share repurchase transaction.
See Note 30 for additional information.
During 2011 and 2010, the Bancorp repurchased an immaterial amount of common stock.23.
STOCK-BASED COMPENSATION The Bancorp has historically emphasized employee stock ownership.
The following table provides detail of the number of shares to be issued upon exercise of outstanding stock-based awards and remaining shares available for future issuance under all of the Bancorp’s equity compensation plans as of December 31, 2012:
## Table 0 ##
(a) Under the 2011 Incentive Compensation Plan, 39 million shares plus up to 4.5 million shares from the 2008 Incentive Compensation Plan (the Predecessor Plan) of stock were authorized for issuance as incentive and nonqualified stock options, SARs, restricted stock and restricted stock units, performance units and performance restricted stock awards.
(b) The number of shares to be issued upon exercise will be determined at vesting based on the difference between the grant price and the market price at the date of exercise.
(c) Excludes 0.8 million outstanding options awarded under plans assumed by the Bancorp in connection with certain mergers and acquisitions.
The Bancorp has not made any awards under these plans and will make no additional awards under these plans.
The weighted-average exercise price of the outstanding options is $17.74 per share.
(d) Phantom stock units are settled in cash.
(e) The number of shares to be issued is dependent upon the Bancorp achieving certain predefined performance targets and ranges from zero shares to approximately 0.6 million shares.
(f) Represents remaining shares of Fifth Third common stock under the Bancorp’s 1993 Stock Purchase Plan, as amended and restated, including an additional 1.5 million shares approved by shareholders on March 28, 2007 and an additional 12 million shares approved by shareholders on April 21, 2009.
Stock-based awards are eligible for issuance under the Bancorp’s Incentive Compensation Plan to key employees and directors of the Bancorp and its subsidiaries.
The Incentive Compensation Plan was approved by shareholders on April 19, 2011, and authorized the issuance of up to 39 million shares plus up to 4.5 million shares under the Predecessor Plan for Full Value Awards as equity compensation and provides for incentive and nonqualified stock options, stock appreciation rights, restricted stock and restricted stock units, and performance share and restricted stock awards.
Full Value Awards are defined as awards with no cash outlay for the employee to obtain the full value.
Based on total stock-based awards outstanding (including stock options, stock appreciation rights, restricted stock and performance units) and shares remaining for future grants under the 2011 Incentive Compensation Plan, the potential dilution to which the Bancorp’s shareholders of common stock are exposed due to the potential that stock-based compensation will be awarded to executives, directors or key employees of the Bancorp is nine percent.
SARs, restricted stock, stock options and performance units outstanding represent six percent of the Bancorp’s issued shares at December 31, 2012.
CASH REQUIREMENTS – Dividends and Share Repurchase.
Returning capital to shareholders in the form of dividends and the repurchase of outstanding shares has historically been a significant component of our capital allocation plan.
We have consistently paid quarterly dividends.
Dividends paid totaled $200.5 million, $187.1 million and $201.7 million in fiscal years 2018, 2017 and 2016, respectively.
Although we have historically paid dividends and plan to continue to do so, there can be no assurances that circumstances will not change in the future that could affect our ability or decisions to pay dividends.
Capital Investment.
Capital expenditures totaled $98.6 million and $89.3 million in fiscal years 2018 and 2017, respectively.
In addition, we expended net cash totaling $42.5 million and $54.8 million in fiscal years 2018 and 2017, respectively, to acquire franchisee and competitor businesses.
Our capital expenditures relate primarily to recurring improvements to retail offices, as well as investments in computers, software and related assets; however, we are conducting an ongoing comprehensive strategy review.
Implementing the strategic and operating objectives resulting from such review will require capital investments.
FINANCING RESOURCES – On September 22, 2017, we entered into a Second Amended and Restated Credit and Guarantee Agreement (2017 CLOC), which further amended our First Amended and Restated Credit and Guarantee Agreement (2016 CLOC).
Our 2017 CLOC has capacity up to $2.0 billion, and is scheduled to expire in September 2022.
Other material terms remain unchanged from our 2016 CLOC.
Proceeds under the 2017 CLOC may be used for working capital needs or for other general corporate purposes.
We were in compliance with our 2017 CLOC covenants as of April 30, 2018.
As of April 30, 2018, amounts available to borrow under the 2017 CLOC were limited by the debt-to-EBITDA covenant to approximately $1.7 billion; however, our cash needs at April 30 generally do not require us to borrow on our CLOC at that time and we had no balance outstanding as of April 30, 2018.
See Item 8, note 6 to the consolidated financial statements for discussion of the Senior Notes and our 2017 CLOC.
The following table provides ratings for debt issued by Block Financial as of April 30, 2018 and 2017:
## Table 1 ##
(1) Outlook of Negative effective June 13, 2018.
CASH AND OTHER ASSETS – As of April 30, 2018, we held cash and cash equivalents, excluding restricted amounts, of $1.5 billion, including $111.1 million held by our foreign subsidiaries.
Foreign Operations.
Seasonal borrowing needs of our Canadian operations are typically funded by our U. S.  operations.
To mitigate foreign currency risk, we sometimes enter into foreign exchange forward contracts.
There were no forward contracts outstanding as of April 30, 2018.
We do not currently intend to repatriate non-borrowed funds held by our foreign subsidiaries.
The impact of changes in foreign exchange rates during the period on our international cash balances resulted in a decrease of $1.1 million during fiscal year 2018 compared to decreases of $4.5 million and $10.6 million in fiscal years 2017 and 2016, respectively.
the Company’s estimates of cash flows expected to be generated by acquired loans increased by $179 million, or approximately 3%.
That improvement reflected a lowering of estimated principal losses by approximately $173 million, primarily due to a $160 million decrease in expected principal losses in the acquired commercial real estate portfolios.
The increase in projected cash flows, including both the $173 million of principal referred to above and interest payments related thereto, resulted in a $181 million transfer from the nonaccretable balance to the accretable yield.
Similarly, in 2012 the estimates of cash flows expected to be generated by acquired loans increased by approximately 2%, or $178 million.
That improvement also reflected a lowering of estimated principal losses that amounted to approximately $175 million, largely driven by a $132 million decrease in expected principal losses in the acquired commercial real estate portfolios.
Including both the $175 million of principal referred to above and interest payments related thereto, the increases in projected cash flows resulted in a $200 million transfer from the nonaccretable balance to the accretable yield.
In the aggregate, approximately $109 million and $45 million of those transfers were recognized as interest income in 2013 and 2012, respectively.
The remainder will be recognized as interest income in subsequent years.
Table 11 NONACCRETABLE BALANCE — PRINCIPAL
## Table 2 ##
Nonaccrual loans totaled $874 million or 1.36% of outstanding loans and leases at December 31, 2013, compared with $1.01 billion or 1.52% at December 31, 2012 and $1.10 billion or 1.83% at December 31, 2011.
The decline in nonaccrual loans at the end of 2013 as compared with December 31, 2012 and 2011 was largely due to lower commercial loans and commercial real estate loans on nonaccrual status.
Since December 31, 2011, additions to nonaccrual loans were more than offset by the impact on such loans from payments received and charge-offs.
Nevertheless, conditions in the U. S.  economy have continued to result in generally higher levels of nonaccrual loans than historically experienced by the Company.
Accruing loans past due 90 days or more (excluding acquired loans) totaled $369 million or .58% of total loans and leases at December 31, 2013, compared with $358 million or .54% at December 31, 2012 and $288 million or .48% at December 31, 2011.
Those loans included loans guaranteed by government-related entities of $298 million, $316 million and $253 million at December 31, 2013, 2012 and 2011, respectively.
Such guaranteed loans included one-to-four family residential mortgage loans serviced by the Company that were repurchased to reduce servicing costs, including a requirement to advance principal and interest payments that had not been received from individual mortgagors.
Despite the loans being purchased by the Company, the insurance or guarantee by the applicable government-related entity remains in force.
The outstanding principal balances of the repurchased loans that are guaranteed by government-related entities aggregated $255 million at December 31, 2013, $294 million at December 31, 2012 and $241 million at December 31, 2011.
The remaining loans in this classification were loans considered to be with creditworthy borrowers that were in the process of collection or renewal.
A summary of nonperforming assets and certain past due, renegotiated and impaired loan data and credit quality ratios is presented in table 12.
New South Wales storms ($16.2 million).
The 2016 favorable development on prior years catastrophe losses related primarily to the 2015 Chilean earthquake.
Segment Expenses.
Commission and brokerage increased by 1.5% to $287.7 million in 2017 compared to $283.4 million in 2016.
Segment other underwriting expenses increased to $38.8 million in 2017 compared to $35.5 million in 2016.
The increases were mainly due to the impact of the increase in premiums earned.
Commission and brokerage decreased by 4.9% to $283.4 million in 2016 compared to $298.2 million in 2015.
The year over year decrease was mainly due to the impact of the decrease in premiums earned.
Segment other underwriting expenses increased slightly to $35.5 million in 2016 compared to $34.3 million in 2015.
Bermuda.
The following table presents the underwriting results and ratios for the Bermuda segment for the periods indicated.
## Table 3 ##
Premiums.
Gross written premiums increased by 35.3% to $1,205.0 million in 2017 compared to $890.4 million in 2016, primarily due to increased casualty and financial lines of business written through the Bermuda office and increased production from the U. K.  and Ireland offices, partially offset by a negative impact of $6.5 million from the movement of foreign exchange rates.
Net written premiums increased by 36.9% to $1,139.1 million in 2017 compared to $831.9 million in 2016, which is consistent with the change in gross written premiums.
Premiums earned increased 30.5% to $1,093.3 million in 2017 compared to $838.0 million in 2016.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.
Gross written premiums increased by 1.5% to $890.4 million in 2016 compared to $877.3 million in 2015, primarily due to an increased casualty writings through the Bermuda office, partially offset by lower casualty writings through the Ireland office and the negative impact of $31.1 million from the movement of foreign exchange rates.
Net written premiums increased by 5.1% to $831.9 million in 2016 compared to $791.6 million in 2015.
The difference between the change in gross written premiums compared to the change in net written premiums was due to varying utilization of reinsurance.
Premiums earned increased 1.9% to $838.0 million in 2016 compared to $822.4 million in 2015.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.

<table><tr><td>Plan Category (shares in thousands)</td><td colspan="2">Number of Shares tobe Issued UponExercise</td><td rowspan="4">Weighted-AverageExercisePrice N/A</td><td colspan="2">Shares Available for Future Issuance</td></tr><tr><td>Equity compensation plans approved by shareholders</td><td></td><td></td><td></td><td><i></i></td><td rowspan="3">23,215(a) (a) (a)</td></tr><tr><td>SARs</td><td><i></i></td><td rowspan="2"><i>(b)</i>(b) 6,379</td><td></td><td><i></i></td></tr><tr><td>Restricted stock</td><td></td><td><i></i></td></tr><tr><td>Stock options<i>(c)</i></td><td></td><td>3,108</td><td>$51.75</td><td><i></i></td><td>(a)</td></tr><tr><td>Phantom stock units</td><td><i></i></td><td><i>(d)</i></td><td>N/A</td><td></td><td>N/A</td></tr><tr><td>Performance units</td><td><i></i></td><td><i>(e)</i></td><td>N/A</td><td><i></i></td><td>(a)</td></tr><tr><td>Employee stock purchase plan</td><td></td><td></td><td></td><td><i></i></td><td>8,720(f)</td></tr><tr><td>Total shares</td><td></td><td>9,487</td><td></td><td></td><td>31,935</td></tr></table>
<table><tr><td>As of</td><td colspan="3">April 30, 2018</td><td colspan="3">April 30, 2017</td></tr><tr><td></td><td>Short-term</td><td>Long-term</td><td>Outlook</td><td>Short-term</td><td>Long-term</td><td>Outlook</td></tr><tr><td>Moody's<sup>-1</sup></td><td>P-3</td><td>Baa3</td><td>Stable</td><td>P-3</td><td>Baa3</td><td>Stable</td></tr><tr><td>S&P</td><td>A-2</td><td>BBB</td><td>Stable</td><td>A-2</td><td>BBB</td><td>Negative</td></tr></table>
<table><tr><td></td><td colspan="2"> Remaining Balance</td><td colspan="2"> Life-to-date Charges</td></tr><tr><td></td><td> December 31, 2013</td><td> December 31, 2012</td><td> December 31, 2013</td><td> December 31, 2012</td></tr><tr><td></td><td colspan="4"> (In thousands)</td></tr><tr><td>Commercial, financing, leasing, etc.</td><td>$31,931</td><td>$40,198</td><td>$69,772</td><td>$63,190</td></tr><tr><td>Commercial real estate</td><td>110,984</td><td>285,681</td><td>277,222</td><td>262,062</td></tr><tr><td>Residential real estate</td><td>23,201</td><td>36,471</td><td>54,177</td><td>46,842</td></tr><tr><td>Consumer</td><td>33,989</td><td>50,856</td><td>74,039</td><td>63,132</td></tr><tr><td>Total</td><td>$200,105</td><td>$413,206</td><td>$475,210</td><td>$435,226</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td><td colspan="2">2017/2016</td><td colspan="2">2016/2015</td></tr><tr><td>(Dollars in millions)</td><td>2017</td><td>2016</td><td>2015</td><td>Variance</td><td>% Change</td><td>Variance</td><td>% Change</td></tr><tr><td>Gross written premiums</td><td>$1,205.0</td><td>$890.4</td><td>$877.3</td><td>$314.6</td><td>35.3%</td><td>$13.0</td><td>1.5%</td></tr><tr><td>Net written premiums</td><td>1,139.1</td><td>831.9</td><td>791.6</td><td>307.2</td><td>36.9%</td><td>40.3</td><td>5.1%</td></tr><tr><td>Premiums earned</td><td>$1,093.3</td><td>$838.0</td><td>$822.4</td><td>$255.3</td><td>30.5%</td><td>$15.6</td><td>1.9%</td></tr><tr><td>Incurred losses and LAE</td><td>735.3</td><td>461.9</td><td>456.4</td><td>273.4</td><td>59.2%</td><td>5.5</td><td>1.2%</td></tr><tr><td>Commission and brokerage</td><td>303.7</td><td>234.0</td><td>216.0</td><td>69.7</td><td>29.8%</td><td>18.0</td><td>8.3%</td></tr><tr><td>Other underwriting expenses</td><td>38.0</td><td>36.3</td><td>36.0</td><td>1.7</td><td>4.6%</td><td>0.3</td><td>0.8%</td></tr><tr><td>Underwriting gain (loss)</td><td>$16.2</td><td>$105.7</td><td>$113.9</td><td>$-89.5</td><td>-84.6%</td><td>$-8.2</td><td>-7.2%</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Point Chg</td><td></td><td>Point Chg</td></tr><tr><td>Loss ratio</td><td>67.3%</td><td>55.1%</td><td>55.4%</td><td></td><td>12.2</td><td></td><td>-0.3</td></tr><tr><td>Commission and brokerage ratio</td><td>27.8%</td><td>27.9%</td><td>26.3%</td><td></td><td>-0.1</td><td></td><td>1.6</td></tr><tr><td>Other underwriting expense ratio</td><td>3.4%</td><td>4.4%</td><td>4.4%</td><td></td><td>-1.0</td><td></td><td>-</td></tr><tr><td>Combined ratio</td><td>98.5%</td><td>87.4%</td><td>86.1%</td><td></td><td>11.1</td><td></td><td>1.3</td></tr><tr><td>(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: What's the average of Amount of Years Ended December 31, in 2016 for Years Ended December 31,? (in million)