## Table 0 ##
The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable.
In addition, option valuation models require the input of highly subjective assumptions, including the expected stock price volatility.
Because the Company’s employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options.
The fair value of the RSUs was determined based on the market value at the date of grant.
The total fair value of awards vested during 2008, 2007, and 2006 was $35,384, $17,840, and $9,413, respectively.
The total stock based compensation expense calculated using the Black-Scholes option valuation model in 2008, 2007, and 2006 was $38,872, $22,164, and $11,913, respectively.
The aggregate intrinsic values of options outstanding and exercisable at December 27, 2008 were $8.2 million and $8.2 million, respectively.
The aggregate intrinsic value of options exercised during the year ended December 27, 2008 was $0.6 million.
Aggregate intrinsic value represents the positive difference between the Company’s closing stock price on the last trading day of the fiscal period, which was $19.39 on December 27, 2008, and the exercise price multiplied by the number of options exercised.
As of December 27, 2008, there was $141.7 million of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans.
That cost is expected to be recognized over a period of five years.
Employee Stock Purchase Plan The shareholders also adopted an employee stock purchase plan (ESPP).
Up to 2,000,000 shares of common stock have been reserved for the ESPP.
Shares will be offered to employees at a price equal to the lesser of 85% of the fair market value of the stock on the date of purchase or 85% of the fair market value on the enrollment date.
The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code.
During 2008, 2007, and 2006, 362,902, 120,230, and 124,693 shares, respectively were purchased under the plan for a total purchase price of $8,782, $5,730, and $3,569, respectively.
At December 27, 2008, approximately 663,679 shares were available for future issuance.10.
Earnings Per Share The following table sets forth the computation of basic and diluted net income per share:
Summarized financial information for AZLP is as follows:
## Table 1 ##
## Table 2 ##
Merial Limited In 1997, Old Merck and Rh?ne-Poulenc S. A.
(now sanofi-aventis) combined their animal health businesses to form Merial Limited (“Merial”), a fully integrated animal health company, which was a stand-alone joint venture, 50% owned by each party.
Merial provides a comprehensive range of pharmaceuticals and vaccines to enhance the health, well-being and performance of a wide range of animal species.
On September 17, 2009, Old Merck sold its 50% interest in Merial to sanofi-aventis for $4 billion in cash.
The sale resulted in the recognition of a $3.2 billion gain in 2009 reflected in Other income (expense), net.
Also, in connection with the sale of Merial, Old Merck, sanofi-aventis and Schering-Plough signed a call option agreement.
Under the terms of the call option agreement, following the closing of the Merger, sanofi-aventis has an option to require the Company to combine its Intervet/Schering-Plough Animal Health business with Merial to form an animal health joint venture that would be owned equally by the Company and sanofi-aventis.
As part of the call option agreement, the value of Merial has been fixed at $8 billion.
The minimum total value received by the Company for contributing Intervet/Schering-Plough to the combined entity would be $9.25 billion (subject to customary transaction adjustments), consisting of a floor valuation of Intervet/Schering-Plough which is fixed at a minimum of $8.5 billion (subject to potential upward revision based on a valuation exercise by the two parties) and an additional payment by sanofi-aventis of $750 million.
Based on the valuation exercise of Intervet/ScheringPlough and the customary transaction adjustments, if Merial and Intervet/Schering-Plough are combined, a payment may be required to be paid by either party to make the joint venture equally owned by the Company and sanofi-aventis.
This payment would true-up the value of the contributions so that they are equal.
Any formation of a new animal health joint venture with sanofi-aventis is subject to customary closing conditions including antitrust review in the United States and Europe.
Prior to the closing of the Merger, the agreements provided Old Merck with certain rights to terminate the call option for a fee of $400 million.
The recognition of the termination fee was deferred until the fourth quarter of 2009 when the conditions that could have triggered its payment lapsed.
The amount is reflected in Other (income) expense, net.
Merial sales were $1.8 billion for the period from January 1, 2009 until the September 17, 2009 divestiture date, $2.6 billion for 2008 and $2.4 billion for 2007.
Sanofi Pasteur MSD In 1994, Old Merck and Pasteur Mérieux Connaught (now Sanofi Pasteur S. A. )
established an equally-owned joint venture to market vaccines in Europe and to collaborate in the development of combination vaccines for distribution in Europe.
Joint venture vaccine sales were $1.6 billion for 2009, $1.9 billion for 2008 and $1.4 billion for 2007.
Johnson & Johnson?Merck Consumer Pharmaceuticals Company In 1989, Old Merck formed a joint venture with Johnson & Johnson to develop and market a broad range of nonprescription medicines for U. S.  consumers.
This 50% owned venture was subsequently expanded into Canada.
Significant joint venture products are Pepcid AC, an over-the-counter form of the Company’s ulcer
A summary of nonvested RSU and PSU activity (shares in thousands) is as follows:
## Table 3 ##
At December 31, 2009, there was $521.8 million of total pretax unrecognized compensation expense related to nonvested stock options, RSU and PSU awards which will be recognized over a weighted average period of 1.5 years.
For segment reporting, share-based compensation costs are unallocated expenses.15.
Pension and Other Postretirement Benefit Plans The Company has defined benefit pension plans covering eligible employees in the United States and in certain of its international subsidiaries.
Pension benefits in the United States are based on a formula that considers final average pay and years of credited service.
In addition, the Company provides medical, dental and life insurance benefits, principally to its eligible U. S.  retirees and similar benefits to their dependents, through its other postretirement benefit plans.
The Company uses December 31 as the year-end measurement date for all of its pension plans and other postretirement benefit plans.
The net cost for pension and other postretirement benefit plans consisted of the following components:
## Table 4 ##
Net pension and other postretirement benefit cost totaled $511.1 million in 2009, $376.6 million in 2008 and $489.3 million in 2007.
The increase in 2009 as compared with 2008 is primarily due to $118.2 million of costs associated with Schering-Plough benefit plans from the date of the Merger through December 31, 2009.
The net pension cost attributable to U. S.  plans included in the above table was $288.7 million in 2009, $226.4 million in 2008 and $302.2 million in 2007.
In connection with restructuring actions (see Note 4), termination charges were recorded in 2009, 2008 and 2007 on pension and other postretirement benefit plans related to expanded eligibility for certain employees exiting Merck.
Also, in connection with these restructuring activities, net curtailment gains were recorded in 2009 and curtailment losses were recorded in 2008 and 2007 on pension plans and net curtailment gains were recorded in 2009, 2008 and 2007 on other postretirement benefit plans.

<table><tr><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Weighted average fair value of options granted</td><td>$18.47</td><td>$33.81</td><td>$20.01</td></tr><tr><td>Expected volatility</td><td>0.3845</td><td>0.3677</td><td>0.3534</td></tr><tr><td>Dividend yield</td><td>3.75%</td><td>0.76%</td><td>1.00%</td></tr><tr><td>Expected life of options in years</td><td>6.0</td><td>6.0</td><td>6.3</td></tr><tr><td>Risk-free interest rate</td><td>2%</td><td>4%</td><td>5%</td></tr></table>
<table><tr><td><i>Years Ended December 31</i></td><td> 2009</td><td>2008</td><td>2007</td></tr><tr><td>Sales</td><td>$5,743.6</td><td>$5,450.4</td><td>$6,345.4</td></tr><tr><td>Materials and production costs</td><td>3,136.6</td><td>2,682.4</td><td>3,364.0</td></tr><tr><td>Other expense, net</td><td>1,194.2</td><td>1,408.1</td><td>1,090.1</td></tr><tr><td>Income before taxes</td><td>1,412.8</td><td>1,359.9</td><td>1,891.3</td></tr></table>
<table><tr><td><i>December 31</i></td><td> 2009</td><td>2008</td></tr><tr><td>Current assets</td><td>$2,956.2</td><td>$2,023.9</td></tr><tr><td>Noncurrent assets</td><td>294.5</td><td>359.0</td></tr><tr><td>Total liabilities (all current)</td><td>3,489.3</td><td>3,054.4</td></tr></table>
<table><tr><td></td><td colspan="2">RSUs</td><td colspan="2">PSUs</td></tr><tr><td></td><td>Number of Shares</td><td>Weighted  Average  Grant Date  Fair Value</td><td>Number of Shares</td><td>Weighted  Average  Grant Date  Fair Value</td></tr><tr><td>Nonvested as of January 1, 2009</td><td>6,292.2</td><td>$39.41</td><td>1,621.4</td><td>$41.86</td></tr><tr><td> Granted</td><td>2,818.5</td><td>26.78</td><td>726.4</td><td>24.20</td></tr><tr><td> Replacement awards</td><td>8,105.6</td><td>30.67</td><td>2,049.9</td><td>30.67</td></tr><tr><td> Vested</td><td>-1,896.6</td><td>34.18</td><td>-1,063.7</td><td>32.10</td></tr><tr><td> Forfeited</td><td>-201.0</td><td>36.81</td><td>-1,011.4</td><td>31.46</td></tr><tr><td> Nonvested at December 31, 2009</td><td>15,118.7</td><td>$33.06</td><td>2,322.6</td><td>$35.46</td></tr></table>
<table><tr><td></td><td colspan="3">Pension Benefits</td><td colspan="3">Other Postretirement Benefits</td></tr><tr><td><i>Years Ended December 31</i></td><td>2009</td><td>2008</td><td>2007</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>Service cost</td><td>$398.4</td><td>$344.1</td><td>$377.2</td><td>$75.3</td><td>$73.2</td><td>$90.8</td></tr><tr><td>Interest cost</td><td>449.7</td><td>414.2</td><td>379.9</td><td>108.3</td><td>113.8</td><td>107.7</td></tr><tr><td>Expected return on plan assets</td><td>-649.2</td><td>-559.4</td><td>-491.4</td><td>-98.0</td><td>-129.0</td><td>-130.5</td></tr><tr><td>Net amortization</td><td>122.8</td><td>70.4</td><td>149.4</td><td>18.9</td><td>-22.6</td><td>-16.8</td></tr><tr><td>Termination benefits</td><td>88.7</td><td>62.3</td><td>25.6</td><td>9.6</td><td>11.2</td><td>7.7</td></tr><tr><td>Curtailments</td><td>-6.2</td><td>5.7</td><td>1.1</td><td>-9.9</td><td>-15.9</td><td>-16.8</td></tr><tr><td>Settlements</td><td>2.7</td><td>8.6</td><td>5.4</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net pension and other postretirement cost</td><td>$406.9</td><td>$345.9</td><td>$447.2</td><td>$104.2</td><td>$30.7</td><td>$42.1</td></tr></table>

Question: Which year is Settlements the most for Pension Benefits?
Answer: 2008