ITEM 6.
SELECTED FINANCIAL DATA The following Selected Financial Data should be read in conjunction with our consolidated financial statements and notes thereto as of December 31, 2008 and 2007 and for each of the three years in the period ended December 31, 2008 and Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this Annual Report on Form 10-K.  Our merger with Allied was effective December 5, 2008 and has been accounted for as an acquisition of Allied by Republic.
The consolidated financial statements include the operating results of Allied from the date of the acquisition, and have not been retroactively restated to include Allied’s historical financial position or results of operations.
In accordance with the purchase method of accounting, the purchase price paid has been allocated to the assets and liabilities acquired based upon their estimated fair values as of the acquisition date, with the excess of the purchase price over the net assets acquired being recorded as goodwill.
Our shares, per share data and weighted average common and common equivalent shares outstanding have been retroactively adjusted for all periods prior to 2007 to reflect a 3-for-2 stock split in the form of a stock dividend that was effective on March 16, 2007.
See Notes 1, 2, 3, 8, 9, 10 and 11 of the notes to our consolidated financial statements in Item 8 of this Form 10-K for a discussion of basis of presentation, significant accounting policies, business acquisitions and divestitures, assets held for sale, restructuring charges, landfill and environmental costs, debt, income taxes and stockholders’ equity and their effect on comparability of year-to-year data.
These historical results are not necessarily indicative of the results to be expected in the future (in millions, except per share amounts).
## Table 0 ##
associated with abandoned office space with non-cancellable lease terms.
During 2013, we incurred $8.6 million of restructuring charges, which consisted of severance and other employee termination benefits, relocation benefits, and the closure of offices with lease agreements with non-cancelable terms.
Interest Expense The following table provides the components of interest expense, including accretion of debt discounts and accretion of discounts primarily associated with environmental and risk insurance liabilities assumed in acquisitions (in millions of dollars):
## Table 1 ##
Total interest expense increased during 2015 due to the issuance of $500.0 million of 3.20% notes in March 2015, as well as borrowings under our Credit Facilities.
During the second half of 2013, we entered into various interest rate swap agreements relative to our 4.750% fixed rate senior notes due in May 2023.
These swap agreements, which were designated as fair value hedges, have a total notional value of $300.0 million and resulted in a $7.5 million reduction in interest expense during 2015, compared to a $7.7 million reduction in interest expense during 2014 and a $2.0 million reduction in interest expense during 2013.
Additionally, there were lower variable rates on our tax-exempt financings, which also contributed to the reduction in interest expense during 2014.
During 2015, 2014 and 2013, cash paid for interest was $327.6 million, $320.2 million and $324.0 million, respectively.
Loss on Extinguishment of Debt We refinanced our credit facilities and certain of our tax-exempt financings in 2014, resulting in non-cash charges for deferred issuance costs of $1.4 million.
During 2013, we refinanced certain of our tax-exempt financings that resulted in a $2.1 million non-cash charge for deferred issuance costs.
Income Taxes Our provision for income taxes was $445.5 million, $337.4 million and $262.1 million for 2015, 2014 and 2013, respectively.
Our effective income tax rate was 37.3%, 38.1% and 30.8% for 2015, 2014 and 2013, respectively.
Our 2015 effective tax rate was favorably impacted by $17.4 million due to the resolution of outstanding tax matters in various states and Puerto Rico.
Our 2014 effective tax rate was favorably impacted by $5.1 million due to the realization of tax credits and lower state rates due to changes in estimates.
Our 2013 effective tax rate was favorably impacted by approximately $42 million for adjustments to our valuation allowance, primarily due to the determination that it was more likely than not the Company would be able to realize certain state loss carryforwards.
In addition, our 2013 effective tax rate was favorably impacted by approximately $14 million due to a settlement for tax years 2009 to 2010 with the Internal Revenue Service appeals division and the Joint Committee of Taxation.
Lastly, our 2013 effective tax rate was favorably impacted by the realization of tax credits and lower state rates due to changes in estimates of $9.6 million.
We made income tax payments (net of refunds received) of approximately $321 million, $382 million and $288 million for 2015, 2014 and 2013, respectively
REPUBLIC SERVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) credit exposure, we continually monitor the credit worthiness of the financial institutions where we have deposits.
Concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services, as well as the dispersion of our operations across many geographic areas.
We provide services to small-container commercial, large-container industrial, municipal and residential customers in the United States and Puerto Rico.
We perform ongoing credit evaluations of our customers, but generally do not require collateral to support customer receivables.
We establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information.
Accounts Receivable, Net Accounts receivable represent receivables from customers for collection, transfer, recycling, disposal, energy services and other services.
Our receivables are recorded when billed or when the related revenue is earned, if earlier, and represent claims against third parties that will be settled in cash.
The carrying value of our receivables, net of the allowance for doubtful accounts and customer credits, represents their estimated net realizable value.
Provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience, the age of the receivables, specific customer information and economic conditions.
We also review outstanding balances on an account-specific basis.
In general, reserves are provided for accounts receivable in excess of 90 days outstanding.
Past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due.
The following table reflects the activity in our allowance for doubtful accounts for the years ended December 31:
## Table 2 ##
Restricted Cash and Marketable Securities As of December 31, 2015, we had $100.3 million of restricted cash and marketable securities.
We obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills, transfer stations, collection and recycling centers.
The funds are deposited directly into trust accounts by the bonding authorities at the time of issuance.
As the use of these funds is contractually restricted, and we do not have the ability to use these funds for general operating purposes, they are classified as restricted cash and marketable securities in our consolidated balance sheets.
In the normal course of business, we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts, closure or postclosure of landfills, environmental remediation, environmental permits, and business licenses and permits as a financial guarantee of our performance.
At several of our landfills, we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts.
Property and Equipment We record property and equipment at cost.
Expenditures for major additions and improvements to facilities are capitalized, while maintenance and repairs are charged to expense as incurred.
When property is retired or otherwise disposed, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income.

<table><tr><td></td><td colspan="5">Year Ended December 31,</td></tr><tr><td></td><td>2008</td><td>2007</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td> Statement of Operations Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenue</td><td>$3,685.1</td><td>$3,176.2</td><td>$3,070.6</td><td>$2,863.9</td><td>$2,708.1</td></tr><tr><td>Expenses:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of operations</td><td>2,416.7</td><td>2,003.9</td><td>1,924.4</td><td>1,803.9</td><td>1,714.4</td></tr><tr><td>Depreciation amortization and depletion</td><td>354.1</td><td>305.5</td><td>296.0</td><td>278.8</td><td>259.4</td></tr><tr><td>Accretion</td><td>23.9</td><td>17.1</td><td>15.7</td><td>14.5</td><td>13.7</td></tr><tr><td>Selling, general and administrative</td><td>434.7</td><td>313.7</td><td>315.0</td><td>289.5</td><td>268.3</td></tr><tr><td>Asset impairments</td><td>89.8</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Restructuring charges</td><td>82.7</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Operating income</td><td>283.2</td><td>536.0</td><td>519.5</td><td>477.2</td><td>452.3</td></tr><tr><td>Interest expense</td><td>-131.9</td><td>-94.8</td><td>-95.8</td><td>-81.0</td><td>-76.7</td></tr><tr><td>Interest income</td><td>9.6</td><td>12.8</td><td>15.8</td><td>11.4</td><td>6.9</td></tr><tr><td>Other income (expense), net</td><td>-1.6</td><td>14.1</td><td>4.2</td><td>1.6</td><td>1.2</td></tr><tr><td>Income before income taxes</td><td>159.3</td><td>468.1</td><td>443.7</td><td>409.2</td><td>383.7</td></tr><tr><td>Provision for income taxes</td><td>85.4</td><td>177.9</td><td>164.1</td><td>155.5</td><td>145.8</td></tr><tr><td>Minority interests</td><td>.1</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Net income</td><td>$73.8</td><td>$290.2</td><td>$279.6</td><td>$253.7</td><td>$237.9</td></tr><tr><td>Basic earnings per share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic earnings per share</td><td>$.38</td><td>$1.53</td><td>$1.41</td><td>$1.23</td><td>$1.10</td></tr><tr><td>Weighted average common shares outstanding</td><td>196.7</td><td>190.1</td><td>198.2</td><td>207.0</td><td>217.3</td></tr><tr><td>Diluted earnings per share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Diluted earnings per share</td><td>$.37</td><td>$1.51</td><td>$1.39</td><td>$1.20</td><td>$1.08</td></tr><tr><td>Weighted average common and common equivalent shares outstanding</td><td>198.4</td><td>192.0</td><td>200.6</td><td>210.8</td><td>221.1</td></tr><tr><td>Cash dividends per common share</td><td>$.7200</td><td>$.5534</td><td>$.4000</td><td>$.3466</td><td>$.2400</td></tr></table>
<table><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Interest expense on debt and capital lease obligations</td><td>$324.6</td><td>$310.3</td><td>$319.8</td></tr><tr><td>Accretion of debt discounts</td><td>7.4</td><td>6.6</td><td>6.9</td></tr><tr><td>Accretion of remediation liabilities and other</td><td>39.7</td><td>38.2</td><td>40.6</td></tr><tr><td>Less: capitalized interest</td><td>-6.8</td><td>-6.4</td><td>-7.3</td></tr><tr><td>Total interest expense</td><td>$364.9</td><td>$348.7</td><td>$360.0</td></tr></table>
<table><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Balance at beginning of year</td><td>$38.9</td><td>$38.3</td><td>$45.3</td></tr><tr><td>Additions charged to expense</td><td>22.7</td><td>22.6</td><td>16.1</td></tr><tr><td>Accounts written-off</td><td>-14.9</td><td>-22.0</td><td>-23.1</td></tr><tr><td>Balance at end of year</td><td>$46.7</td><td>$38.9</td><td>$38.3</td></tr></table>

Question: In the year with the most Revenue, what is the growth rate of Accretion of Expenses for Year Ended December 31,?
Answer: 0.28452