Based on the foregoing evaluation of management performance, the Personnel Committee approved the following Annual Incentive Plan payouts to each Named Executive Officer for 2017:
## Table 0 ##
Nuclear Retention Plan Mr. ?Bakken participates in the Nuclear Retention Plan, a retention plan for officers and other leaders with expertise in the nuclear industry.
The Personnel Committee authorized this plan to attract and retain key management and employee talent in the nuclear power field, a field that requires unique technical and other expertise that is in great demand in the utility industry.
The plan provides for bonuses to be paid annually over a three-year employment period with the bonus opportunity dependent on the participant’s management level and continued employment.
Each annual payment is equal to an amount ranging from 15% to 30% of the employee’s base salary as of their date of enrollment in the plan.
Mr. ?Bakken’s participation in the plan commenced in May 2016 and in accordance with the terms and conditions of the plan, in May 2017, 2018, and 2019, subject to his continued employment, Mr. ?Bakken will receive a cash bonus equal to 30% of his base salary as of May?1, 2016.
This plan does not allow for accelerated or prorated payout upon termination of any kind.
The three-year coverage period and percentage of base salary payable under the plan are consistent with the terms of participation of other senior nuclear officers who participate in this plan.
In May 2017, Mr.  Bakken received a cash bonus of $181,500 which equaled 30% of his May?1, 2016, base salary of $605,000.
Long-Term Incentive Compensation Entergy Corporation’s goal for its long-term incentive compensation is to focus the executive officers on building shareholder value and to increase the executive officers’ ownership of Entergy Corporation’s common stock in order to more closely align their interest with those of Entergy Corporation’s shareholders.
In its long-term incentive compensation programs, Entergy Corporation uses a mix of performance units, restricted stock, and stock options.
Performance units are used to deliver more than a majority of the total target long-term incentive awards.
For periods through the end of 2017, performance units reward the Named Executive Officers on the basis of total shareholder return, which is a measure of stock price appreciation and dividend payments, in relation to the companies in the Philadelphia Utility Index.
Beginning with the 2018-2020 performance period, a cumulative utility earnings metric has been added to the Long-Term Performance Unit Program to supplement the relative total shareholder return measure that historically has been used in this program with each measure equally weighted.
Restricted stock ties the executive officers’ long-term financial interest to the long-term financial interests of Entergy Corporation’s shareholders.
Stock options provide a direct incentive to increase the value of Entergy Corporation’s common stock.
In general, Entergy Corporation seeks to allocate the total value of long-term incentive compensation 60% to performance units and 40% to a combination of stock options and restricted stock, equally divided in value, based on the value the compensation model seeks to deliver.
Awards for individual Named Executive Officers may vary from this target as a result of individual performance, promotions, and internal pay equity.
The performance units for the 2015-2017 performance period were awarded under the 2011 Equity Ownership Plan and Long-Term Cash Incentive Plan (the “2011 Equity Ownership Plan”) and the performance units for the
The NASDAQ OMX Group, Inc.  Notes to Consolidated Financial Statements—(Continued) Acquisition of the Philadelphia Stock Exchange In July 2008, we completed our acquisition of PHLX, expanding our presence in the derivatives market.
The acquisition of PHLX provided us with one of the largest options market in the U. S.  and with increased exposure to a fast growing asset class and diversification into an area adjacent to our core equity trading business.
PHLX, renamed NASDAQ OMX PHLX, operates as a distinct market alongside The NASDAQ Options Market, our options platform that was launched in March 2008.
With the acquisition of PHLX and the launch of The NASDAQ Options Market, we have substantially increased our footprint in global derivatives.
Acquisition of the Boston Stock Exchange We completed our acquisition of BSX in August 2008.
The BSX acquisition provided us with an additional license for trading both cash equities and options and a clearing license.
We used the BSX license to create a second U. S.  cash equities market, called NASDAQ OMX BX, which was launched in January 2009.
With NASDAQ OMX BX, we were able to offer an additional quote within the U. S.  cash equities marketplace, providing our customers enhanced trading choices and price flexibility.
We have been able to leverage our INET trading system, which runs The NASDAQ Stock Market, to operate NASDAQ OMX BX, providing customers an additional fast and efficient cash equities market.
Acquisition of Certain Businesses from Nord Pool In October 2008, we acquired Nord Pool’s clearing, international derivatives and consulting subsidiaries.
As a result of the acquisition, we launched NASDAQ OMX Commodities, which offers energy and carbon derivatives products.
NASDAQ OMX Commodities provides access to the world’s largest power derivatives markets and one of Europe’s largest carbon markets.
Acquisition of a Majority Interest in International Derivatives Clearing Group In December 2008, we acquired a majority interest in IDCG, and IDCG became an independently operated subsidiary of NASDAQ OMX.
IDCG provides CCP clearing for interest rate swap products through its clearinghouse subsidiary IDCH.
NFX is serving as the designated contract market for trading of certain of these interest rate swap products.
Investment in Agora-X, LLC As of December 31, 2008, we had a 20% aggregate equity interest in Agora-X and increased our ownership interest to 85% in December 2009, resulting in a majority stake.
In the second quarter of 2010, we made a strategic decision to close our Agora-X business and recorded a loss of $5 million.
This charge was included in loss on divestiture of businesses in the Consolidated Statements of Income for the year ended December 31, 2010.
The following table presents a summary of our acquisitions in 2008:
## Table 1 ##
The NASDAQ OMX Group, Inc.  Notes to Consolidated Financial Statements—(Continued) (1,523,325 shares) and other holders (39,175 shares).
The warrants became exercisable on April 22, 2006 and would have expired on December 8, 2008.
During 2007, H&F converted all of their 3.75% convertible notes into common stock and exercised all of their outstanding warrants prior to expiration.
During 2007 and 2008, SLP and other holders converted a portion of their 3.75% convertible notes into common stock and exercised all of their outstanding warrants prior to expiration.
In September 2009, SLP and another holder, or Holders, converted their remaining outstanding 3.75% convertible notes into common stock in accordance with the terms of the notes.
As an inducement for conversion, we agreed to pay the Holders and certain of their affiliates an aggregate amount of $9 million in cash and issue to the Holders shares of our series A convertible preferred stock, with an aggregate initial liquidation preference amount of $16 million.
See “Preferred Stock,” of Note 12, “NASDAQ OMX Stockholders’ Equity,” for further discussion.
As of December 31, 2010 and 2009, approximately $0.5 million aggregate principal amount of the 3.75% convertible notes remained outstanding.2.50% Convertible Senior Notes During the first quarter of 2008, in connection with the business combination with OMX AB, we completed the offering of $475 million aggregate principal amount of 2.50% convertible senior notes due 2013.
The interest rate on the notes is 2.50% per annum payable semi-annually in arrears on February 15 and August 15 and will mature on August 15, 2013.
The notes are convertible in certain circumstances specified in the indenture for the notes.
Upon conversion, holders will receive, at the election of NASDAQ OMX, cash, common stock or a combination of cash and common stock.
It is our current intent and policy to settle the principal amount of the notes in cash.
The conversion rate will initially be 18.1386 shares of common stock per $1,000 principal amount of notes, which is equivalent to a conversion price of approximately $55.13 per share of common stock.
At December 31, 2010, the 2.50% convertible senior notes are convertible into 7,757,283 shares of our common stock, subject to adjustment upon the occurrence of specified events.
Subject to certain exceptions, if we undergo a “fundamental change” as described in the indenture, holders may require us to purchase their notes at a price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest.
Since the settlement structure of our 2.50% convertible senior notes permits settlement in cash upon conversion, we are required to separately account for the liability and equity components of the convertible debt in a manner that reflects our nonconvertible debt borrowing rate when interest cost is recognized in subsequent periods.
This entails bifurcation of a component of the debt, classification of that component in equity and then accretion of the resulting discount on the debt being reflected in the income statement as part of interest expense.
The changes in the liability and equity components of our 2.50% convertible senior notes during the year ended December 31, 2010 and 2009 are as follows:
## Table 2 ##
ABIOMED, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Note 3.
Acquisitions (Continued) including the revenues of third-party licensees, or (ii) the Company’s sale of (A) ECP, (B) all or substantially all of ECP’s assets, or (C) certain of ECP’s patent rights, the Company will pay to Syscore the lesser of (x) one-half of the profits earned from such sale described in the foregoing item (ii), after accounting for the costs of acquiring and operating ECP, or (y) $15.0 million (less any previous milestone payment).
ECP’s Acquisition of AIS GmbH Aachen Innovative Solutions In connection with the Company’s acquisition of ECP, ECP acquired all of the share capital of AIS GmbH Aachen Innovative Solutions (“AIS”), a limited liability company incorporated in Germany, pursuant to a share purchase agreement dated as of June 30, 2014, by and among ECP and AIS’s four individual shareholders.
AIS, based in Aachen, Germany, holds certain intellectual property useful to ECP’s business, and, prior to being acquired by ECP, had licensed such intellectual property to ECP.
The purchase price for the acquisition of AIS’s share capital was approximately $2.8 million in cash, which was provided by the Company, and the acquisition closed immediately prior to Abiomed Europe’s acquisition of ECP.
The share purchase agreement contains representations, warranties and closing conditions customary for transactions of its size and nature.
Purchase Price Allocation The acquisition of ECP and AIS was accounted for as a business combination.
The purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values.
The acquisition-date fair value of the consideration transferred is as follows:
## Table 3 ##
We believe that these actions will provide us with a greater level of flexibility necessary to operate in the current market environment.
If market conditions warrant, we may take additional actions to enhance our liquidity position including: ● Continued retention of portfolio cash flows including approximately $4.85 billion of expected inflows from upcoming maturities, calls and interest receipts on investments over the next six months.
● The sale of fixed income (government, municipal and investment grade corporate bonds) and equity securities with unrealized capital gains at December 31, 2008.
With a focus on preserving capital, we consider investments which are convertible to cash without generating significant additional net realized capital losses as liquidity sources.
The following table presents cash and short-term positions easily convertible to cash, and certain other liquid investments meeting this criteria.
## Table 4 ##
(1) Other highly liquid investments are defined as assets that are generally saleable within one week, and primarily include common equity securities of $1.56 billion, municipal bonds of $1.08 billion, U. S.  government and agencies bonds of $652 million, short-term investments of $624 million and agency pass through securities of $552 million.
The amounts shown in the table above represent the amount of our holdings in these assets, excluding any holdings with restrictions.
(2) Other liquid investments are defined as assets that are saleable within one quarter, and primarily include municipal bonds of $5.20 billion, short-term investments of $1.87 billion, corporate bonds of $956 million and agency pass through securities of $774 million.
The amounts shown in the table above represent the amount that we believe could be sold during the first quarter of 2009, excluding any holdings with restrictions.
The above analysis identifies our access to internal sources of liquidity.
We believe we have sufficient liquidity to address current planned needs from investments other than those for which we have asserted the intent to hold until recovery combined with targeted sales of certain Allstate Financial products.
Additionally, we have existing intercompany agreements in place that facilitate liquidity management at an enterprise level and enhance flexibility across the Company.
To increase new money for investing, we have initiated actions to accelerate the recovery of approximately $1.29 billion of tax refunds from the overpayment of 2008 estimated taxes as well as the carryback of 2008 Allstate Financial ordinary losses and Property-Liability capital losses to prior tax years.
$320 million in refunds were received in February 2009 and we expect the remaining refunds to be received in the first half of 2009.
The carryback of the non-life companies’ 2008 capital losses will fully offset the capital gains from 2005 and 2006, resulting in a remaining capital loss carryback capacity of $1.50 billion from 2007.
The life companies do not have the ability to carry back any capital losses to prior tax years.
Parent Company Capital Capacity At the parent holding company level, we have deployable cash and investments totaling $3.64 billion as of December 31, 2008.
These assets include highly liquid securities that are generally saleable within one week totaling $2.29 billion, additional liquid investments that are saleable within one quarter totaling $972 million, and $381 million of investments that trade in illiquid markets.
The substantial earnings capacity of the operating subsidiaries is the primary source of capital generation for the Corporation.
In 2009, AIC will have the capacity to pay dividends currently estimated at $1.30 billion without prior regulatory approval.
We do not anticipate that ALIC will pay dividends to AIC in 2009.
In addition, we have access to $1.00 billion of funds from either commercial paper issuance or an unsecured revolving credit facility.
This provides capital for the parent company’s relatively low fixed charges, estimated at $650 million in 2009, and $750 million of debt maturing in December 2009, to the extent not refinanced prior to maturity.
In October 2008, the Corporation completed its previously approved capital contribution of $1.00 billion of invested assets to AIC.
In November 2008, AIC purchased a $400 million surplus note from ALIC and made a capital contribution of $600 million to ALIC.
An additional amount of approximately $250 million remains under the
The underground distribution lines represent the single longest underground electric delivery system in the United States.
Transmission Facilities The company’s transmission facilities are located in New York City and Westchester, Orange, Rockland, Putnam and Dutchess counties in New York State.
At December 31, 2018, CECONY owned or jointly owned 555 miles of overhead circuits operating at 138, 230, 345 and 500 kV and 749 miles of underground circuits operating at 69, 138 and 345 kV.
The company’s 39 transmission substations and 62 area stations are supplied by circuits operated at 69 kV and above.
For information about transmission projects to address, among other things, reliability concerns associated with the scheduled closure of the Indian Point Energy Center (which is owned by Entergy Corporation subsidiaries) see “CECONY – Electric Operations – Electric Supply” and “Con Edison Transmission,” below.
CECONY’s transmission facilities interconnect with those of National Grid, Central Hudson Gas & Electric Corporation, O&R, New York State Electric & Gas, Connecticut Light & Power Company, Long Island Power Authority, NYPA and Public Service Electric and Gas Company.
Generating Facilities CECONY’s electric generating facilities consist of plants located in Manhattan whose primary purpose is to produce steam for the company's steam business.
The facilities have an aggregate capacity of 720 MW.
The company expects to have sufficient amounts of gas and fuel oil available in 2019 for use in these facilities.
Electric Sales and Deliveries CECONY delivers electricity to its full-service customers who purchase electricity from the company.
The company also delivers electricity to its customers who choose to purchase electricity from other suppliers (retail choice program).
In addition, the company delivers electricity to state and municipal customers of NYPA.
The company charges all customers in its service area for the delivery of electricity.
The company generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.
It does not make any margin or profit on the electricity it sells.
CECONY’s electric revenues are subject to a revenue decoupling mechanism.
As a result, its electric delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.
CECONY’s electric sales and deliveries for the last five years were
## Table 5 ##
For further discussion of the company’s electric operating revenues and its electric results, see “Results of Operations” in Item 7.
For additional segment information, see Note N to the financial statements in Item 8.
Electric Peak Demand The electric peak demand in CECONY’s service area occurs during the summer air conditioning season.
The weather during the summer of 2018 was cooler than design weather conditions.
CECONY’s 2018 service area peak demand was 12,686 MW, which occurred on August 29, 2018.
“Design weather conditions” for the electric system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes.
Since NYISO

<table><tr><td>Named Executive Officer</td><td>Base Salary</td><td>Target as Percentage of Base Salary</td><td>Payout as Percentage of Target</td><td>2017 AnnualIncentive Award</td></tr><tr><td>A. Christopher Bakken, III</td><td>$620,125</td><td>70%</td><td>129%</td><td>$559,973</td></tr><tr><td>Marcus V. Brown</td><td>$630,000</td><td>70%</td><td>129%</td><td>$568,890</td></tr><tr><td>Leo P. Denault</td><td>$1,230,000</td><td>135%</td><td>129%</td><td>$2,142,045</td></tr><tr><td>Haley R. Fisackerly</td><td>$355,300</td><td>40%</td><td>119%</td><td>$169,123</td></tr><tr><td>Andrew S. Marsh</td><td>$600,000</td><td>70%</td><td>129%</td><td>$541,800</td></tr><tr><td>Phillip R. May, Jr.</td><td>$366,150</td><td>60%</td><td>137%</td><td>$300,000</td></tr><tr><td>Sallie T. Rainer</td><td>$328,275</td><td>40%</td><td>119%</td><td>$156,259</td></tr><tr><td>Charles L. Rice, Jr.</td><td>$286,424</td><td>40%</td><td>79%</td><td>$91,000</td></tr><tr><td>Richard C. Riley</td><td>$344,200</td><td>40%</td><td>204%</td><td>$280,661</td></tr><tr><td>Roderick K. West</td><td>$675,598</td><td>70%</td><td>129%</td><td>$610,065</td></tr></table>
<table><tr><td></td><td> Purchase Consideration<sup>-1</sup></td><td>Total Net (Liabilities) Assets Acquired (2)</td><td> Purchased Intangible Assets</td><td></td><td> Goodwill</td><td></td></tr><tr><td></td><td colspan="5"> (in millions)</td><td></td></tr><tr><td>2008</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>OMX AB</td><td>$4,371</td><td>$-340</td><td>$1,207</td><td></td><td>$3,504</td><td></td></tr><tr><td>PHLX</td><td>708</td><td>-99</td><td>337</td><td></td><td>470</td><td></td></tr><tr><td>BSX</td><td>43</td><td>-44</td><td>52</td><td></td><td>35</td><td></td></tr><tr><td>Nord Pool</td><td>317</td><td>68-3</td><td>81</td><td><sup>-3</sup></td><td>168</td><td><sup>-3</sup></td></tr><tr><td>IDCG</td><td>85</td><td>59</td><td>26</td><td></td><td>—</td><td></td></tr><tr><td>Total for 2008</td><td>$5,524</td><td>$-356</td><td>$1,703</td><td></td><td>$4,177</td><td></td></tr></table>
<table><tr><td></td><td colspan="3">Liability Component (in millions)</td><td colspan="3">Equity Component (in millions)</td></tr><tr><td></td><td>Principal Balance</td><td>Unamortized Debt Discount</td><td>Net Carrying Amount</td><td>Gross Equity Component</td><td>Deferred Taxes</td><td>Net Equity Component</td></tr><tr><td>January 1, 2009</td><td>$475</td><td>$74</td><td>$401</td><td>$85</td><td>$34</td><td>$51</td></tr><tr><td>Accretion of debt discount</td><td>—</td><td>-13</td><td>13</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Early extinguishment of debt</td><td>-47</td><td>-7</td><td>-40</td><td>-5</td><td>-2</td><td>-3</td></tr><tr><td>December 31, 2009</td><td>$428</td><td>$54</td><td>$374</td><td>$80</td><td>$32</td><td>$48</td></tr><tr><td>Accretion of debt discount</td><td>—</td><td>-14</td><td>14</td><td>—</td><td>—</td><td>—</td></tr><tr><td>December 31, 2010</td><td>$428</td><td>$40</td><td>$388</td><td>$80</td><td>$32</td><td>$48</td></tr></table>
<table><tr><td></td><td>Total Acquisition Date Fair Value (in thousands)</td></tr><tr><td>Cash consideration</td><td>$15,750</td></tr><tr><td>Contingent consideration</td><td>6,000</td></tr><tr><td>Total consideration transferred</td><td>$21,750</td></tr></table>
<table><tr><td> </td><td colspan="4"> As of December 31, 2008</td><td></td></tr><tr><td> ($ in millions) </td><td>Property- Liability</td><td>Allstate Financial</td><td>Corporate and Other</td><td> Consolidated</td><td></td></tr><tr><td>Cash and short-term positions easily convertible to cash available same day/next day</td><td>$1,577</td><td>$2,825</td><td>$1,993</td><td>$6,395</td><td></td></tr><tr><td>Other highly liquid investments<sup>-1</sup></td><td>3,292</td><td>1,320</td><td>295</td><td>4,907</td><td></td></tr><tr><td>Other liquid investments<sup>-2</sup></td><td>6,027</td><td>2,258</td><td>972</td><td>9,257</td><td></td></tr><tr><td>Total liquid</td><td>$10,896</td><td>$6,403</td><td>$3,260</td><td>$20,559</td><td></td></tr><tr><td>Percent of total consolidated cash and investments</td><td>11.3%</td><td>6.6%</td><td>3.4%</td><td>21.3</td><td> %</td></tr></table>
<table><tr><td></td><td colspan="5">Year Ended December 31,</td></tr><tr><td></td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>2018</td></tr><tr><td>Electric Energy Delivered(millions of kWh)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY full service customers</td><td>19,757</td><td>20,206</td><td>19,886</td><td>19,227</td><td>20,452</td></tr><tr><td>Delivery service for retail choice customers</td><td>26,221</td><td>26,662</td><td>26,813</td><td>26,136</td><td>26,266</td></tr><tr><td>Delivery service to NYPA customers and others</td><td>10,325</td><td>10,147</td><td>10,046</td><td>9,955</td><td>10,119</td></tr><tr><td>Total Deliveries in Franchise Area</td><td>56,303</td><td>57,015</td><td>56,745</td><td>55,318</td><td>56,837</td></tr><tr><td>Electric Energy Delivered($ in millions)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY full service customers</td><td>$5,023</td><td>$4,757</td><td>$4,404</td><td>$4,348</td><td>$4,706</td></tr><tr><td>Delivery service for retail choice customers</td><td>2,646</td><td>2,714</td><td>2,768</td><td>2,712</td><td>2,624</td></tr><tr><td>Delivery service to NYPA customers and others</td><td>625</td><td>600</td><td>610</td><td>623</td><td>652</td></tr><tr><td>Other operating revenues</td><td>143</td><td>101</td><td>324</td><td>289</td><td>-11</td></tr><tr><td>Total Deliveries in Franchise Area</td><td>$8,437</td><td>$8,172</td><td>$8,106</td><td>$7,972</td><td>$7,971</td></tr><tr><td>Average Revenue per kWh Sold(Cents)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential</td><td>28.9</td><td>26.3</td><td>24.9</td><td>25.3</td><td>26.4</td></tr><tr><td>Commercial and industrial</td><td>22.1</td><td>20.6</td><td>19.1</td><td>19.7</td><td>19.3</td></tr></table>

Question: What is the proportion of CECONY full service customers to the total in 2014?
Answer: 0.59535